One problem of sending one's kids to a private school in CA is that a lot of the folks in your adult social group will be part of the high-risk financial world. (Full disclosure: my wife works for Capital Group, a much lower risk mutual fund company.)
Twice I have become very friendly with former employees of Goldman Sachs with whom I have much in common, like outdoor activiites including golf, only to largely lose those friendships because of my objection to the GS role in the subprime crisis. Both people deny GS had anything to do it. And the male friend fairly recently said that it was caused by the "guvment."
Well, here's Paul Krugman's piece today about the new movie that he likes and says is accurate, "The Big Short":
http://www.nytimes.com/2015/12/18/opinion/the-big-short-housing-bubbles-and-retold-lies.html?action=click&pgtype=Homepage&clickSource=story-heading&module=opinion-c-col-left-region®ion=opinion-c-col-left-region&WT.nav=opinion-c-col-left-region
Krugman references this piece by Mike Konczal:
https://www.washingtonpost.com/news/wonk/wp/2013/02/13/no-marco-rubio-government-did-not-cause-the-housing-crisis/
They completely debunk the blame the government for the crisis line of attack: basically, Fannie and Freddie bought very few high-risk sub-prime loans, the private label companies did this.
The article also debunks the idea that the government's attempt to reverse discrimination in home lending contributed to the creation of poorly underwritten home loans, which also turns out not to be true. Most of theses loans did not possess the garbage qualities of true sub-prime, such as no docs, ballon payments, sudden interest rate jumps, etc.
So don't believe your bank- or shadow-banking friends or folks like Marco Rubio when they try to blame the 2008 financial crisis on the government.
Friday, December 18, 2015
Tuesday, November 10, 2015
California Memory
LA Times and NYTimes have a daily blog that includes "California Memories."
Here are some of my earliest CA memories:
In the fall of 1992 my two buddies and I had just driven from NH and were now moving into the cheapest "3" bedroom apartment we could find at Melrose and Normandy, not a nice place. We should have rented near the beach. But anyway we got restaurants jobs. Mine was at the Magic Pan in Beverly Hills. A few stars like Angie Dickinson and Linsey Wagner complimented me on my cooking. That was kind of cool. Mostly though being low-income and new to LA was hard. I got paid about $5/hour as cook. I bought an old Fiat that constantly broke down, and I had way more dating opportunities from guys than girls. After a couple months my buddies went back. I stayed and enjoyed taking Public Speaking and Shakespeare classes at LA Community College. Another highlight of this LA experience was hanging out with my new pals at clubs like the Odyssey and Seven Seas and at the beach in Santa Monica. I loved that my friends seemed very international to me and all had names that I had not heard before: Ezra, Ramin and Chema. The "US" festival was a great time. The only day I went I got to see the Clash and Men from Down Under. I lasted nine months in LA. I then moved up to Berkeley where I eventually earned my BA in Latin American Studies in December 1988.
Condensed Version:
In the fall of 1992 my two buddies and I had just driven from NH and were now moving into the cheapest "3" bedroom apartment we could find on Melrose near Normandy, not a nice place. We got restaurants jobs. Mine was at the Magic Pan in Beverly Hills. A few stars like Angie Dickinson and Linsey Wagner complimented me on my cooking. That was kind of cool. Mostly though, being low-income and new to LA was hard. I bought an old Fiat that constantly broke down, and I had way more dating opportunities from guys than girls.
Here's what I submitted to alice@latimes.com
It's about 94 words. I doubt it'll get published because after writing it I noticed that they wanted memories that are "fondly remembered or love about CA."
My two buddies and I had just driven from NH and were now moving into the cheapest "3" bedroom apartment we could find on Melrose near Normandy, not a nice place. We got restaurants jobs. Mine was at the Magic Pan in Beverly Hills. A few stars like Angie Dickinson and Linsey Wagner complimented me on my cooking. That was kind of cool. Mostly though, being low-income and new to LA was hard. I bought an old Fiat that constantly broke down, and I had way more dating opportunities from guys than girls.
Here are some of my earliest CA memories:
In the fall of 1992 my two buddies and I had just driven from NH and were now moving into the cheapest "3" bedroom apartment we could find at Melrose and Normandy, not a nice place. We should have rented near the beach. But anyway we got restaurants jobs. Mine was at the Magic Pan in Beverly Hills. A few stars like Angie Dickinson and Linsey Wagner complimented me on my cooking. That was kind of cool. Mostly though being low-income and new to LA was hard. I got paid about $5/hour as cook. I bought an old Fiat that constantly broke down, and I had way more dating opportunities from guys than girls. After a couple months my buddies went back. I stayed and enjoyed taking Public Speaking and Shakespeare classes at LA Community College. Another highlight of this LA experience was hanging out with my new pals at clubs like the Odyssey and Seven Seas and at the beach in Santa Monica. I loved that my friends seemed very international to me and all had names that I had not heard before: Ezra, Ramin and Chema. The "US" festival was a great time. The only day I went I got to see the Clash and Men from Down Under. I lasted nine months in LA. I then moved up to Berkeley where I eventually earned my BA in Latin American Studies in December 1988.
Condensed Version:
In the fall of 1992 my two buddies and I had just driven from NH and were now moving into the cheapest "3" bedroom apartment we could find on Melrose near Normandy, not a nice place. We got restaurants jobs. Mine was at the Magic Pan in Beverly Hills. A few stars like Angie Dickinson and Linsey Wagner complimented me on my cooking. That was kind of cool. Mostly though, being low-income and new to LA was hard. I bought an old Fiat that constantly broke down, and I had way more dating opportunities from guys than girls.
Here's what I submitted to alice@latimes.com
It's about 94 words. I doubt it'll get published because after writing it I noticed that they wanted memories that are "fondly remembered or love about CA."
My two buddies and I had just driven from NH and were now moving into the cheapest "3" bedroom apartment we could find on Melrose near Normandy, not a nice place. We got restaurants jobs. Mine was at the Magic Pan in Beverly Hills. A few stars like Angie Dickinson and Linsey Wagner complimented me on my cooking. That was kind of cool. Mostly though, being low-income and new to LA was hard. I bought an old Fiat that constantly broke down, and I had way more dating opportunities from guys than girls.
Sunday, November 8, 2015
Bike Path Thru MVGC
Proposed path through the Mill Valley Golf Course, November 2015
Share the course, like they do in Scotland and Ireland.
Scott Highlands Neighborhood Association will help pay for it, maybe up to $40k
133 homes, half have kids.
New signage would ask users to stay on path, move quickly past fenced areas (for safety), dogs on leash, please curb your dog, etc.
Paul Chuljian, Scott Highlands NA co-president, draft presentation:
https://us-mg6.mail.yahoo.com/neo/launch?.rand=c2nt03kjqsiu3#3035151805
This is a good perspective of holes 2 and 6 from Google Maps:
https://www.google.com/maps/@37.9123253,-122.5317346,389a,20y,270h,41.63t/data=!3m1!1e3
Wednesday, October 28, 2015
New crappy (mostly) Comcast Equipment
Lots of reasonable complaints about Comcast on ConsumerAffairs.com.
I'd like to be specific here: The new Comcast equipment, the Xfinity Modem/Router and the new X1 DVR/cable box are full of problems. Yes, the cable box has some nice new features like you can see sports scores at the same time as watching and there's a Pandora App to listen to.
But watch out because setting up a new modem/router causes lots of problems like incompatability with SONOS.
The new DVR/cable box and new remote do not have same easy functions as my universal remote that I used just fine with the old Comcast DVR/cable box.
Comcast phone support will not help you set-up your stereo system to your TV and DVR. What the heck?!! Don't most people have this?!
All the new equipment Comcast sent me has had problems: the first DVR/cable box and remote were defective. I spent hours trying to get them to work.
Advice: the new DVR/cable box is pretty cool but if you have an universal remote and an attached stereo system, your new TV arrangement will not work the same or as easily as before.
DO NOT get the new Xfinity modem/router combo!
I'd like to be specific here: The new Comcast equipment, the Xfinity Modem/Router and the new X1 DVR/cable box are full of problems. Yes, the cable box has some nice new features like you can see sports scores at the same time as watching and there's a Pandora App to listen to.
But watch out because setting up a new modem/router causes lots of problems like incompatability with SONOS.
The new DVR/cable box and new remote do not have same easy functions as my universal remote that I used just fine with the old Comcast DVR/cable box.
Comcast phone support will not help you set-up your stereo system to your TV and DVR. What the heck?!! Don't most people have this?!
All the new equipment Comcast sent me has had problems: the first DVR/cable box and remote were defective. I spent hours trying to get them to work.
Advice: the new DVR/cable box is pretty cool but if you have an universal remote and an attached stereo system, your new TV arrangement will not work the same or as easily as before.
DO NOT get the new Xfinity modem/router combo!
My Phantom (and first) Hole in One!
My dad, Bob, got his first hole-in-one a year or so ago at Laconia Country Club, NH on the par 3, 5th hole during an unusual round of golf by himself. He sure got a lot of guff when he told the boys back at the 19th!
Anyway, my brother calls that his "Phantom Hole-in-one."
Well, as my dad said, "I guess it runs in the family", because the same happened to me yesterday, four days before Halloween, and three days before my 52nd birthday.
I got my phantom hole-in-one on the175 yard, par 3, 2nd hole at Mill Valley Golf Club, CA playing by myself.
Here's the story:
I thought I had used too much club,a 19 degree hybrid, but I knew I hit it well. I think I took my eye off it for a second and then happened to notice that it had landed right in front of the hole. Then the ball rolled a bit and seemed to disappear. It was 175-180 yards away so I had to do a double-take and there was no ball on the green, so I knew then that it had gone in.
I yelled "Hole in one!" And various hooting and hollering. Later the pro asked me what I was yelling about and he kind of had guessed it. I took pictures of the hole from the tee-box.
I was very excited.
Later I felt very satisfied that I had achieved this milestone. It's a bit strange that I had done it by myself without any witnesses, but it doesn't matter much. Golf is such a personal, individual experience. I actually like playing by myself a lot of the time, especially at MV because it's a special, beautiful place.
Anyway, my brother calls that his "Phantom Hole-in-one."
Well, as my dad said, "I guess it runs in the family", because the same happened to me yesterday, four days before Halloween, and three days before my 52nd birthday.
I got my phantom hole-in-one on the175 yard, par 3, 2nd hole at Mill Valley Golf Club, CA playing by myself.
Here's the story:
I thought I had used too much club,a 19 degree hybrid, but I knew I hit it well. I think I took my eye off it for a second and then happened to notice that it had landed right in front of the hole. Then the ball rolled a bit and seemed to disappear. It was 175-180 yards away so I had to do a double-take and there was no ball on the green, so I knew then that it had gone in.
I yelled "Hole in one!" And various hooting and hollering. Later the pro asked me what I was yelling about and he kind of had guessed it. I took pictures of the hole from the tee-box.
I was very excited.
Later I felt very satisfied that I had achieved this milestone. It's a bit strange that I had done it by myself without any witnesses, but it doesn't matter much. Golf is such a personal, individual experience. I actually like playing by myself a lot of the time, especially at MV because it's a special, beautiful place.
October 27, 2015 10am
Thursday, April 24, 2014
Even more on India
April 24, 2013Today's NYT has an article about suicide among farmers in India. It discusses how globalization in the ag sector, as well as the higher costs associated with GMO seeds have put a lot of pressure on small farmers.
http://www.nytimes.com/2014/04/25/opinion/how-suicide-and-politics-mix-in-india.html?hp&rref=opinion
I really enjoyed reading "Behind the beautiful forever", by Katherine Boo. Like the movie "Slumdog Millionaire" the poverty and injustice depicted are devastating. The amazing thing about Boo's book is that it's all non-fiction, a true story. It's a must read for anyone interested in India.
Monday, March 17, 2014
India: two weeks after the trip
St. Patrick's Day, 2014
More thoughts on India
Modi, "Slumdog Millionaire", and India's Rural SectorModi
Narendra Modi is likely to soon to become India's next Prime Minister. Foreign investment and domestic economic activity are on a rise due to this news. There seems to be hope that Modi will help rid India of its patronage systems whereby at every level of government there's an official who requires a payoff in order to allow a deal or project to go forward. Just how Modi plans on changing this is my big question. I hoe that he does.But there are several India experts who have serious doubt about this guy.
This piece, "Banned in Bangalore" talks about how he is a Hindu Nationalist that rejects the erotic aspect of Hinduism's true nature and more:
http://www.nytimes.com/2014/03/06/opinion/banned-in-bangalore.html?action=click&module=Search®ion=searchResults%230&version=&url=http%3A%2F%2Fquery.nytimes.com%2Fsearch%2Fsitesearch%2F%3Faction%3Dclick%26contentCollection%3DOpinion%26region%3DTopBar%26module%3DSearchSubmit%26pgtype%3DBlogs%23%2Fmodi%2Fsince1851%2Fallresults%2F1%2Fallauthors%2Frelevance%2Fopinion%2F
This is piece in "The Guardian"that I haven't read yet:
http://www.theguardian.com/world/2014/mar/06/narendra-modi-india-bjp-leader-elections
Here's the NYTimes collection of articles about him:
http://topics.nytimes.com/top/reference/timestopics/people/m/narendra_modi/?action=click&module=Search®ion=searchResults%230&version=&url=http%3A%2F%2Fquery.nytimes.com%2Fsearch%2Fsitesearch%2F%3Faction%3Dclick%26contentCollection%3DOpinion%26region%3DTopBar%26module%3DSearchSubmit%26pgtype%3Darticle%23%2Fmodi
Slumdog
Just watched for the second time "Slumdog". It's brutal! Wish I had seen it again before going to India (I think? Maybe it would have negatively colored my whole experience there; or opened my eyes more...) The poverty is devastating.Final thought for this post: India's Rural Sector
India is about 80% rural. Seems to me that India needs to direct a lot aid and interest to the small rural farmers in order to prevent a complete flooding of people into its already heavily over-crowded cities. Preventing predatory lending practices may be one important step.Here's a good piece on this:
http://www.nytimes.com/2014/02/23/world/asia/after-farmers-commit-suicide-debts-fall-on-families-in-india.html?action=click&module=Search®ion=searchResults%230&version=&url=http%3A%2F%2Fquery.nytimes.com%2Fsearch%2Fsitesearch%2F%23%2Findia%2Bfarmers%2F
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