Get busy living, or get busy dying...

On that morning, when this life is over, I know, I'll see your face.... Rest in Peace my lifelong and great friend, Greg Martucci. I miss you already brother! God Speed.

"Even though I walk through the valley in the shadow of death, I shall fear no evil, for thou are with me." - Psalm 23

http://www.silive.com/obituaries/advance/index.ssf?/base/news/1225717222157610.xml&coll=1

Jesus!

Last I checked I do not live in Israel. So why then is so much attention given to a candidates stance on policies relating to Israel? I know the an$wer to that que$tion. I wa$ ju$t being hypothetical. Anyway, if you care so much about Israel, move there and stay there. This is America. This election is about America. The focus should be on the issues concerning security and economic stability on our soil, not some land thousands of miles away with little or no economic and diplomatic benefit to us. Let's worry about them and everyone else for that matter, later.

Market

I am expecting a 350 point or more drop in the Dow tomorrow, September 15th. I can even see the drop go as high as 500 points during the session. Let's see how good I am.....

My Summer so far...

Well, it has been quite some time since I have written so instead of discussing world issues I'm going to discuss me and what I have done this summer. I graduated with honors from NYU at the hallowed, soon to be demolished Yankee Stadium. I walked the Seine and shopped at Louis Vuitton on the Champs Elysee. I looked into the eyes of the Mona Lisa in all her glory. I hung out with Picasso, Monet, Manet, Rodin and DaVinci at the Louvre and Musee D'orsay with the Eiffel Tower as our backdrop. I visited Normandy Beach, walked down bloody Omaha, viewed the cliffs at Point Du Hoc, spent some time in a German Bunker and paid homage to the fallen soldiers at the American Cemetery in Caen, particularly one great American hero and medal of honor recipient for his actions on D-Day, Teddy Roosevelt Jr. I prayed to the almighty at the the grandeoise cathedral that is Notre Dame de Paris and rested my head in the evening at L'Opera on the right bank in the 9th arrondissement. I went to Kate Moss lingerie launch party for Agent Provacateur at Milk studios high above the Manhattan skyline as a guest of the most beautiful women at the party and continued the relationship with that gorgeous woman for two months until its recent demise All god things must come to an end. I traveled up to Boston, shopped and dined in upscale establishments on Newbury Street and caught two Sox games at Fenway. I sung "Sweet Caroline" at the end of the eighth inning with the "Nation", much to my dismay as a Yankee fan. I partied in a multi-million dollar mansion on Dune Road in the Hamptons and laughed with my friends at the lunacy we cause and participate in. I saw the Brazilian Girls play a free concert in Prospect Park and "danced" the night away at a secret, warehouse after party in Williamsburg, Brooklyn. I took a few trips to the Jersey Shore to enjoy the beach and mock the ridiculous, Ed Hardy wearing goof balls that inhabit that pathetic scene. I cringe at the thought of it. I turned Thirty and celebrated with friends at Dos Caminos , Park Avenue South, NYC. I've argued and discussed politics and finance amongst my friends and spent time with my family at our pool. I did extensive research for my final assignment at NYU on carbon taxation or a carbon cap & trade scheme and found, in my eyes, that the cap and trade is the way to go. I got a tattoo on my right rib cage that reads: PERGE•FIDENTER•QVO•CONSILIA•TE•DVCVNT VIVE•VITAM•QVAM•IMAGINATVS•ES or for all of you non-Latin speakers "Go confidently in the direction of your dreams, live the life you've imagined." An uplifting quote by the famous American author Henry David Thoreau. So far this Summer, bear in mind theres still two months left, all in all I am living the life I've imagined. Now if only I can start making some money!

The Party's Over

Hillary, seriously, the party's over (pun intended). Concede.

Who is he?

A sign posted in N.Y.C.'s East Village circa 2005 begs the question:



From Atlas Shrugged:

"John Galt is Prometheus who changed his mind. After centuries of being torn by vultures in payment for having brought to men the fire of the gods, he broke his chains--and he withdrew his fire--until the day men withdraw their vultures." -Francisco d'Aconia

"The world will change when you are ready to pronounce this oath:
I swear by my life and my love of it that I will never live for the sake of another man,
nor ask another man to live for the sake of mine."- John Galt

NYU

Goodbye NYU.... Thanks for a phenomenol education and a fantastic commencement at Yankee Stadium.

Bring back communism?...

... the trend, according to WorldPublicOpinion.org, is that more and more people are becoming disenchanted with the free market system. I can understand why your average Brazilian would feel that way, as the income disparity in that country is highly visible and amongst the worst in the world. Only 70% of Americans believe that a free market economy is the most efficient. I'd argue in the next few years that that number will decrease as we head into a recession and the inequality of income distribution continues to rise in favor of the wealthy (See: Gini coefficient).

Here is a snippet from the survey:

"majorities in most countries continue to support the free market system, but over the last two years support has eroded in 10 of 18 countries regularly polled by GlobeScan. In several countries this drop in support has been quite sharp."

Here is a link to the full article.

Atlas Shrugged

I have recently been reading Atlas Shrugged by the great Ayn Rand and came across this wonderful portion of text amongst the 1075 or so pages of the book:

" Don't believe the dreams they pump you full of, and you won't get hurt."

"What dreams?"

"The stories they tell you when you're young- about the human spirit. There isn't any human spirit. Man is just a low-grade animal without intellect, without soul, without virtues or moral values. An animal with only two capacities: to eat and to reproduce."

Rawls on balls.

Philosopher John Rawls writings on Baseball.

I love his second point:

"the game does not give unusual preference or advantage to special physical types, e.g., to tall men as in basketball. All sorts of abilities can find a place somewhere, the tall and the short etc. can enjoy the game together in different positions."

Time to go.

From The New Republic:

"The persistent weakness of American liberalism is its fixation with rights and procedures at any cost to efficiency and common sense. Democrats' reluctance to push Clinton out of the race is the perfect expression of that delicate sensibility.

There is some point at which a candidate's chance of winning becomes so low that her right to continue is outweighed by the party's interest in preparing for the general election. Does Clinton have a chance to become president? Sure. So does Ralph Nader. Clinton's chances are far closer to Nader's than to either Obama's or John McCain's."

Citation du jour...

...or in English, the quote of the day. Going forward I will post one quote that I have come across in my daily reading, old or new, that I think you will find amusing, interesting, outrageous etc. Being that today is the first day, I will post two.

"There is nothing more uncommon than common sense" - Frank Lloyd Wright

"He looks like the guy who always has wiry hair growing out of new places."-David Letterman riffing on John McCain.

The death of the American dream.

For generations our society, culture, the media and our government have propagated the idea that America is the land of opportunity. A place where the hungry can come from around the world and with hard work and some luck live the American dream. My idea of the American dream is fairly simple. Living a life without government interference of your individual "pursuit of happiness", education, home ownership and giving your children a better life than you had with the hope that trend continues onward to the generations that follow. New York once was a haven for those immigrants with the hunger and drive to succeed, it is now a place for those who are already well fed. Unfortunately, our government and society are responsible for the death of the American dream.

When my Grandfather’s family came here from Italy decades ago he believed in the American dream. He came here with the clothes on his back and believed that with hard work he could make a better life for himself. He made a low income, noble living through hard, honest work, all the while holding on to the idea that this was America and he would be rewarded for his efforts. When my Father was born my Grandfather struggled to keep his head afloat financially but he held on tight to that dream, eventually renting a modest apartment in a nice area of Brooklyn and giving my father a decent life, all the while instilling the American dream in my father. My Father graduated high school, started a career, purchased a home, allowed my Grandfather to move in and raised two college educated children in myself and my brother. American dream achieved. My Father always told me about our humble beginnings, the struggles my family went through and instilled in myself the idea that this is America, anything is possible. I can do and be whatever I want to. I too can achieve the American dream. I do believe in their time the American dream was alive and breathing. Unfortunately today, the more and more I ponder this dream that drove millions to come here in search of a better life, I realize that "the system" and the odds are very much against me. The idea of achieving the American dream, while still alive in the hearts and minds of people, is dead in reality.

The media always takes a liking to "rags to riches" stories. We always hear about the hopeless subway entertainer who gets discovered by a record producer, the computer whiz who builds a garage based business into the largest company in the world and so on. But let’s be realistic. These stories of grand success from nothing are few and far between. Reality is most people do not, in the words of Thoreau “go confidently in the direction of their dreams and live the life they’ve imagined.” Most fail at achieving the American dream. And reality shows this hidden truth.

I believe there is truth in numbers. The rich are getting richer and the poor are getting poorer. According to the Cato Institute "the top 1% now takes in an astounding 16% of national income, up from 8% in 1980." These wealthy people lobby, donate and influence our politics to ensure that our government representatives are working with the best interests of the affluent in mind. Money buys power, status, political influence and makes more money. The class struggle is no longer a struggle but a battle that has been lost by the middle class, a class which is quickly becoming non-existent.

Our higher education system is somewhat to blame. Hiding behind the guise of the old adage of better education equals higher earnings potential is the true story of admissions. There have been numerous studies that show a significant amount of Ivy league attendants are only there because of their parents ability to donate to the institution or because they are a legacy entry, not because of their ability. The child’s whose parents attended Harvard or whose parents have the ability to make a significant endowment take precedence in placement over the middle class child with sometimes far superior academic credentials. George Bush, our current President, attended Yale, so did his wealthy Father. Point taken. Even if you are fortunate enough to be someone who is admitted from a lower income class, upon graduation you are entering the real world with one strike against you, severe debt. Severe debt leads to a hindrance toward the next step of the American dream, home ownership.

Home ownership for young people today is also a far fetched aspect of the American dream. With the credit crunch (caused by those top 1% earning business executives might I add) coupled with unbelievably high home prices is causation of the basic foundation of the American dream, owning a home, becoming just that, a dream. Social mobility, at least upward, is virtually non-existent. I would argue that with the hand I am holding it will be very hard for me not only to move socially upward but to keep an even keel with my parents. That's not what we think of when we contemplate the American dream. We think everyone starting at the same starting line. Not the case.

With that said, I believe the workplace is perhaps the best example of the death of the American dream. When it comes to acquiring a new, prestigious job it is not necessarily what you know, it is who you know. The prestigious, well paying positions are occupied by men of wealth, good educations (most likely received again, through their family’s ability to donate) and prestige. If you come from a family of wealth, chances are they associate with those who are in the wealthy class. In turn, when it comes time for you to enter the workforce, more often than not nepotism will take over, strings will be pulled and just by familial association with wealthy circles you will garner a prestigious position. Hence, the rich stay rich and the lower class is forced to work toward that dream which may never be realized but instead just handed to someone of privilege. It is a vicious cycle in which I see no end.

The volumes of data out there has harkened me to the belief that the American dream is dead. By no means am I insinuating that I am hopeless from ever living the life I would like. I like to think of myself as becoming one of those very, very few exceptions. However, the chips are not stacked in my favor. Perhaps the term American dream needs to be removed from our lexicon and adjusted to better describe what it has become, an un-graspable idea and false hope for so many.

Is it really a risk if you know you can't fail?

Is it really a risk if you know you can't fail? Kevin Phillips of the Wall Street Journal writes:

"risk has been off-loaded by wealthy Wall Streeters onto taxpayers. He says the government’s actions in the recent financial crisis — especially the Fed’s backing of $29 billion of Bear Stearns assets and lending directly to Wall Street firms — show government will bail out financial players when they get into serious trouble. Risk, he says, has become “socialized,” while rewards have been privatized."- WSJ

If the government continues to reward firms who assume too much risk by "bailing them out" where is the incentive for them not to take on so much risk? There isn't. If every time I decided to take a chance and knew in the back of my mind that if things did not come to pass I would be helped back on my feet by an outside party then is it really a risk? Thats what businesses do, they succeed or they fail. Stop interfering and let free markets take their course. Further down the "Road to Serfdom." Here is the link to the entire article.

4,000

Here is a link to a mosaic made from the photos of the 4,000 U.S. service men and women killed in Iraq. It depicts the man who is responsible for sending these people to their deaths and the man who has been quoted as saying that he has no problem keeping our troops there for another "100 years" if he is elected president. Another 100 years? We have lost on average 800 troops per year for the last five years. With that said, another one hundred years would bring, using history as a guideline, another 80,000 American deaths. That brings the total to 84,000 deaths assuming consistency. Sounds like a great idea. I bet you can make a pretty large mosaic with 84,000 faces. See here.

Jim Cramer or Cosmo Kramer on Bear?

3-11-08: "Bear Stearns is fine."

Hurry up in the there!

"Honey, I know you have to go. I'll be right out..." and then two years passed.

Shortcomings of curricula.

In my numerous years of education starting in the New York City public schools, continuing onward to a private catholic High School and closed out by attending arguably one of the best universities in the country, how on earth have I never come across this masterfully presented, history making, ode to the written word that is Martin Luther King's Letter From A Birmingham Jail? Shame on you teachers, professors and institutions who I am still financially indebted to! I believe a refund is in order.

A quarter of a century

If Hillary Clinton goes on to win the election this coming November and remains in power pending some unforeseeable circumstance through 2013, that will mean that 2 families will have held the highest seat of power in our government for 24 consecutive years, beginning with G.H.W. Bush in 1989. Anyone with half of a brain can recognize that fact with some simple arithmetic but what does this say about our nation on so many different levels of thought? I can spend the rest of my week analyzing that simple idea from every angle: culturally, socially, democratically, politically, economically and so on but I'll leave it up to you to contemplate this disturbing realization about the state of our nation.

WikiWhyNot?

There have been numerous articles published by the press, most often citing college professors and other academics, stating that Wikipedia is not a reliable source of information. Therefore, it should not be used by students when conducting research. I have experienced this first hand on the NYU campus where some professors clearly state in the course syllabi that any information obtained via Wikipedia will be considered useless and thus graded accordingly. Here is a new study out published in Slate that argues Wikipedia can "hold its own" when measured against The Encyclopedia Britannica.

"The Audacity of Data"

Check out this post from The New Republic. It is by far the best, in depth article I have yet to read detailing the behind the scenes intellects who are assisting Senator Obama in formulating his economic policies. I'd be curious to view a similar article regarding McCain and Clinton's staffers. It is unfortunate that information like this does not get much air or web time. The main stream media would rather show us photos of Obama in a turban or some other nonsense. If anyone knows of any similar type publication where I can get detailed info as to who is in whose camp and what they stand for, send me a link. Thanks.

Where do I stand?

Most of the time in the morning I am standing on the Rector Street "R" train uptown platform. In the afternoons you can usually find me standing on line at Joe's Pizza for lunch and in the evening hours various places throughout New York City will suffice including, but not limited to, L.A. Fitness. But when it comes to where I stand on the election and political views, It's not as easy as finding me standing, waiting, hoping that over aged skateboarder hurries up and hands me the hot pepper shaker so I can get myself and my pizza out of that shoe box that is Joe's. For someone like me, its a little more complicated.

Economics is in my blood, but politics is something new. One can make the argument that the two go together like Ike and Tina, and I'd agree.

When it comes to the economy I have always been a conservative. Not a conservative in the social sense (i.e. pro-life, don't ask don't tell etc.) but a conservative in the "laissez-fare", limited government sense. The belief that government should keep its hands out of the economy and business and let the "invisible hand" do its thing. Milton Friedman and Friedrich Hayek , both Nobel Prize winners are the most notable voices of this idea. Hayek's "The Road to Serfdom", arguably the most influential book written in the 20th century, is my bible much like it was the economic bible of low tax, small government leaders like Ronald Reagan, Margaret Thatcher and now Arnold Schwarzenegger. Free markets, capitalism and economic freedom without government interference will lead to absolute political and social freedom for the individual. What a beautiful idea in concept. Many theorists, economists and politicians agree that the fundamentals of this idea are concrete. These ideas are most prevalent in the campaign of candidate Ron Paul.

Perhaps the best way to test this idea of total economic freedom is to look at its antithesis, the planned economy. In a planned economy, the central planning unit, the government, manages the economy making all decisions on pricing, production, distribution etc. We call this socialism or communism. When Germany was divided after World War II into East (socialist) and West (democratic) Berlin, were Berliners risking their lives to flee democratized West Berlin to get into the socialized East Berlin? Are South Koreans flooding the 38th parallel to get into the communized North? Are Floridians desperately trying to flee from Miami in makeshift watercraft to a better life in Cuba? You get the point. Socialism negates freedom, individual liberties and happiness. So what I'm trying to get at here is that as far as economics goes, I'm with the "little government" policies of the Republicans. Why? We'll lets throw it out there. What is the Democrats proposal for health care reform? It is SOCIALIZED medicine.

Let's not mask this proposal by calling it "national health insurance" Lets call it what it is, Socialized. Much like when FDR and his New Deal moved us toward a welfare state post-WWII with "Social Security", this is doing the same. Socialized health care is a government run agency which oversees arguably the most important aspect of American life, our damn health! When has the government EVER run anything smoothly and effectively? Think of the I.R.S, the budget deficit, the Iraq War etc. The government has a lackluster track record of being effective. Now, with socialized medicine, we are taking away the most important aspect that makes products and services in the free market so much better, competition. Without competition there is less incentive to produce a quality product or keep prices down. Next, doctors will be told what type of medicine to practice, where they are needed to practice that medicine and many will be relocated against their will to areas of need, depriving them of their basic freedoms. Also, certain medicines will only be available under the government plan, giving the consumer a lack of alternatives if one medicine should not be effective. The list goes on and on showing more restrictions of individual liberties. This step in policy is a fairly large leap to a welfare/socialist state. The question is what policy, like "national health care", under the guise of being beneficial to the American people, will the government institute next to further our journey down "The Road to Serfdom?" What starts with health care ends with totalitarianism. Sound extreme? Tell that to the people of Germany in the early to mid 1930's.

With that said there are many fantastic principles coming out of the Democratic camp. Barack Obama, a fantastic orator, has captivated me. On the social issues, I'm totally liberal. So what if the homosexual couple in Chelsea, who have been together for 30 years wants to marry. More power to you. Fund stem cell research so that hopeless 15 year old boy injured in a diving accident can at least have a chance to walk again. And most importantly, get us out of that god awful mess that is Iraq. But I will caution not to be too hasty as we do not want it to become a bigger problem than when we had first arrived. I fear it may be too late for that already, but lets at least think it through this time around.

I agree it is time for some changes, and somethings are better left untouched. To find one candidate who encompasses all of what I believe is an impossibility. In this dual-ocracy we have created that might never come to pass. So where do I stand? Somewhere in the middle of the road with my hands raised up, eyes to the sky, asking myself the same question.

Prediction Markets (Oui, nous pouvons!)

According to the prediction markets (www.intrade.com) Barack Obama is now around an 82% favorite to win the Democratic nomination and around a 55% favorite to win the 2008 elections. Oui, nous pouvons!

"and if you're head explodes with dark forebodings too..."

The wheels in my head in a constant revolution
a cognitive spindle on an infinite spun
I don't know when I am leaving
don't even know if I have come. - unknown

I've felt like this alot lately. So much going on in my head that I don't even know if I am coming or going! Kudos to the author. I'll see you on the dark side of the moon.

Is justice too long delayed justice denied?

In the words of Thurgood Marshall "justice too long delayed is justice denied." Is thirty years too long delayed? Click here to read about the murder of the man whom I am named after (Michael) and the arrest of the men who killed him thirty years after his murder.

Yes we can.

"We've been warned against offering the people of this nation false hope. But in the unlikely story that is America, there has never been anything false about hope."

A certainty "in these uncertain times"

Why is it that the media, while endorsing a politician, and more specifically, the candidates themselves, all have staked claim that they are the best person to lead us "in these uncertain times?" Are any times ever certain? Was there ever an election year where everyone was confident in where the markets were going, the condition of the environment, political stability in foreign nations etc.? To make claims that these times are more uncertain than any other is incorrect. I am no oracle, but one thing is certain, every four years around election time, we will be inundated with claims that these times are more uncertain those prior.

Super Bowl Box Pool

I was wondering what the best (most frequently appearing) numbers were, by quarter, in Super Bowls past. Here is a link that shows how your numbers have fared in previous bowls. Not suprisingly, 7-0, 3-0 and 0-0 appear the most frequently. With that, there are numerous combinations that have never appeared at all in the games 41 year history.

Books that make you dumber

Books that make you dumber.
This is an interesting "scientific" study that correlates S.A.T. scores, college reading etc. and uses these statistics to decipher, well, books that make people dumber. In a nutshell, if you're reading The Bible it might be time to grab your license, go to the local library and check out a new book before the men in the white coats come for you. For starters, "100 Years of Solitude" is a great read.

One book that is not on this list is "The Secret" by Rhonda Byrne. Arguably, this book makes people dumber than any other out there. I am a huge proponent of the power of positive thinking and have read some works on it, my favorite being "Succeed & Grow Rich Through Persuasion" by Napoleon Hill. However, unlike Byrne, Hills methodology requires much, much, more action and much less wishful thinking. Action, with a positive mindset while performing, coupled with visions of successful results during performance is my mantra. Is she claiming that through the "Law of Attraction", while laying on my couch, I can manifest myself money, success or even Scarlett Johansson? I don't think so. Truly one that will outlast the ages of dumbness.

Below is the official list and study, minus "The Secret." Hopefully reading about books that make you dumber won't actually make you any dumber than you already are.
Books that make you dumber.

Fiscal Stimulus Plan

Explain to me why the top two quintiles are receiving 58.1% of the rebates. Frankly, their the ones who need it the least and studies show they won't inject that money back into the economy through spending, instead they will save it. Am I wrong?

Trust my taste

Ultra Orange and Emmanuelle- a French band whose track "Don't Kiss Me Good Bye" is featured in the film "The Diving Bell and the Butterfly" With that, also check out their other songs, particularly "Les Mots Simples." As far as the movie is concerned, I enjoyed it even though it was not what I expected. Subtitles do not bother me and I can use some practice with my French ("Persepolis" was subtitled in French as well... see posting below) so that was fine. I hate to use these cliche words but it truly was "inspirational" and a testament to the "human spirit" mixed with sadness and an abundance of frustration to say the least. A high point was the unbelievably gorgeous French women, nurses and speech therapists, one of which is Emmanuelle from Ultra Orange who sings on the soundtrack and is noted above.

"Illusions: The Adventures of a Reluctant Messiah" -Richard Bach. One of my all-time favorites that I am currently re-reading. Who better to unlock the secrets and illusions of life than the barn storming pilot Donald Shimoda. Here are some philosophical quotes from the book.

Juno- And I thought I possessed an all dominating wit. Fantastic film.

Free Markets, Free Choice

If you haven't seen either of these, make it your business to. The links are below.

Free to Choose (1980) with Milton Friedman

The Road to Serfdom explained through film.

Persepolis

Yesterday I attended a showing of the French film "Persepolis" at the Angelika Theater in Manhattan. The film, which is animated, shows the plight of a young Iranian girl struggling to find her place in the world during the Islamic revolution. Marjane Satrapi , who's autobiography the movie is based on, does a fantastic job of using her personal relationships to highlight the political, social and historical points of the revolution. In order to fully understand a people or culture, we must first understand the situations and experiences that have molded them. This movie is a great starting point for those who want to fully comprehend the Iranian plight without the politically skewed undertones usually found in our medias reporting.

A dime a dozen

I have been saying all the while that lawyers today are a dime a dozen. Almost 11,000 people sat for the New York State bar exam in July of 2007. Around 70% passed, adding to the 91,000 attorneys already practicing in the five boroughs. (see here) The flooding of the market is leading to diminishing wages and the prestige once associated with practicing law is also decreasing. Finally an article that complies with my thoughts.
N.Y. Times Article

Quotes

I recently came across a fantastic quote. Just wanted to share it:

"Oh, life is a glorious cycle of song,
A medley of extemporanea;
And love is a thing that can never go wrong;
And I am Marie of Romania."

Dorothy Parker, Not So Deep as a Well (1937), "Comment"
US author, humorist, poet, & wit (1893 - 1967)

I love the sarcasm. Thanks to Paul Krugman for having a link to it on his blog.