More Davos Crap

It's endless on Babblevision and Blabberg. Davos drivel. I wonder why the snow doesn't melt with all that hot air being pumped out ?

Yesterday the Chinese leader, Wen, and the Russian leader, Putin, lectured the US and criticised the western system. Uh ... those are the leaders of two corrupt gangocracies. That's like Al Capone lecturing Roosevelt on how to run a nation. Or Carlo Gambino lecturing John Kennedy. Sheesh. I suppose one should just politely ignore them, but "stuff it" comes more to mind.

The system of freedom and private property works superbly, but the tendency for excess accumulations of wealth and power by a few needs to be somehow properly directed - social pressure would be best - and their tendencies to create aristocracies stopped. And their raiding parties need to be squashed.

For example, what philanthropist funds artists or mathematicians or writers or philosophers to increase human knowledge ? Mostly they pay big $ to museums to buy old masters or build new wings. Nothing new is created. Davos is full of them - those wanting a big monument to themselves. A few do good things to increase human knowledge. But just a few.

For example, a program to teach young children foreign languages would be incredibly valuable. The young can learn languages so easily. But is that done ? No.

I again reproduce the quote from Thucydides that sparked my thinking on this matter - I first read it referenced in Erasmus' "Praise of Folly". The quote is from the famous oration of Pericles.

"We cultivate refinement without extravagance and knowledge without effeminacy; wealth we employ more for use than for show, and place the real disgrace of poverty not in owning to the fact but in declining the struggle against it."

Unfortunately, too much wealth has been used to buy estates in the Hamptons or invested in hedge fund speculations. And not enough has been productively invested or used to increase human knowledge. That is the real problem.

Markets

A good day yesterday. Today is starting weak. The bears are sure to attack. Obama Fund and Fido Fund are fully invested now. Waiting.

Word of the Day

"Zaftig" - adjective [$100] slang, from Yiddish
Zaftig means 1. (of a woman) having a pleasantly plump figure; 2. full bodied, well-proportioned.
Sentence: Famous zaftig women of the 20th century include Marilyn Monroe and Sofia Loren. Before that, Lillian Russell and Josie Mansfield were zaftig femme fatales.