Hello again… our landscape… [such as it is] is wet… yours? We’re thankful!
I was scratchin’ around for something to pack into sixty seconds (No it’s CBS that does the Sixty Minutes… I’m still working on Sixty Seconds… which is *far* harder… I think!) And I ran across an article in the Weekend Edition of the Wall St. Journal (Sec W1) entitled “From Bear to Bull” with colorful and interesting illustrations and a most encouraging and enlightening article from Mr. James Grant, who edits a publication called (originally enough) “Grant’s Interest Rate Observer.” I don’t know Mr. Grant, and presume he knows me not also… (although he works for a far larger organization than I do.) If you can lay hands on a copy I suggest you do so if you wish to get out of the economic doldrums.
He does a very good job from my non-expert point of view – of laying out the case for too much pessimism in the economic opinion market-place. Essentially he cites history and various historical economic figures who support the idea that the more severe and sudden the economic down-turn, the “zippier” the rebound. Now that’s the kind of info I like to get!
I’m certainly not expert enough in my field… [and economics -- especially financial-market economics – ain’t my field or I’d be rich] to pass judgment upon his piece. I found it informative… however, occasionally I’d step off in a hole. But I understand what he’s saying… and I’ve heard it before in different times and situations. Back in the ‘60s somewhere when we were running through some economic rough patches… I recall one or more of the radio commentators of that day reciting economic lore from the 20’s and before… in which he said we had drastic losses…but before FDR and the New Deal folks took over the platform there wasn’t so much gov’t interference and things bounced back rather smartly and shortly. [Now see I have no data other than my memory to back that up. But I’m reasonably sure a case can be made.]
Anyway… I’ve just spent a pleasant cloudy afternoon ‘lookin’ for the rainbow.’ It’s a lot more fun than checking the stats on your favorite college football team or regretting how you didn’t pull for the Chicago Cubs this year – again. (Sorry about that George Will. It just doesn’t seem like it’s gonna happen in your lifetime.)
My take anyway… although I do like to look at facts and see if I can see a pattern developing – sometimes I’m right! My take is for the really important stuff I’m more than willing to leave it to the Lord. I can pray and do… I don’t think Pat R. is foolish to pray for a Hurricane to blow itself out to sea. At the same time I know I’m looking at things down here – whereas my Heavenly Father sees things from the end to the beginning… and made all things and controls all things. I’ll let the small gang at our Gideon Camp’s picnic out in the Paris Mt. State Park tell you how accurate a weather forecaster I am. But we had a good time of fellowship, anyway and the hamburgers were *fantastic* thank you Bobby!.
Folks… let me know what you think here on the blog and we’ll all have a great discussion.
Cordially, IN HIM
Jack
PS – We had some glad news and sad news over the weekend. One new baby “Molly Grace Blackburn” joined the family over in
http://www.jebcovoice.net/audio/jama09-21-09.mp3
http://www.jebcovoice.net/scripts/jamt09-21-09.doc
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“JUST A MINUTE”
WHERE ARE WE GOING?
Just A Minute – Last year I asked: Where are we going? Saturday, read a Dow Jones article by James Grant – Editor of Grant’s Interest Rate Observer – it changed my outlook.
Grant says, Arthur C. Pigou, who died 1946 --
Do you agree or disagree? Let me know.
<> I’m
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