Assets are called “safe” when they’re free of default risk. But that doesn’t mean their prices can’t drop, or that the financial system is safe if systemically important institutions buy them on margin.
What appears to be a liquidity issue will ultimately become a financial stability issue as investors discover their “safe assets” are not safe.
Very occasionally I wish I were the sort of person who kept lists.
It’s most common that I regret not being a list-keeper when someone asks for book recommendations, especially when they want something in a particular scope—the 10 best books I read this year, or three books that I’ve given as gifts.
I’m always daunted by a request like that, because I have no idea what books I read this year.
Some of my tools—in particular, Amazon and my Kindle—do some amount of list-keeping for me. The public library could, but by default it doesn’t. (For very legitimate historical reasons, librarians worry about their patrons’ privacy, and since they don’t need to keep track of what books you’ve checked out once you’ve returned them, they default to forgetting about them.)
I played around with using a little toy tool called IndieBookClub, which posts the books you enter to your site, but it didn’t do most of the things you’d actually want such a tool to do (associate the books you’re meaning to read, books you’re reading, books you’ve read, and your thoughts about them), so I didn’t find it very useful.
Some people really enjoy the process of keeping lists, but that’s not me. Basically, I don’t want to keep lists, I sometimes want to have kept lists. I sometimes regret not having a list of something, but not in a way that makes me think I should start keeping such a list.
I do track some things—money, exercise, sleep—when experience has shown me that doing so is of great value, but in most areas of life I don’t keep track of anything at all.
Just today—after a year of having this post hanging around in my drafts folder—I saw plans for folks working on IndieWeb stuff to talk about how to do personal libraries in a way that would produce decentralized Goodreads-like functionality. That would really appeal to me.
In the meantime maybe I’ll look around at some list-keeping tools (or maybe start using a few pages in my bullet journal to keep track of books and other things worth tracking).
I’ll keep you posted. Maybe next year will be the year I keep a list of one more thing!
Here’s an app that would have been worth a low-key post on @wisebread. It has a “Denomination Detector” (maybe for people with impaired vision?) and highlights security features you can use to check that the note is genuine, including a “Tilt Check Simulator” that reveals how the security features of banknotes function when in motion.
“Requiring demonstration of inadequate means up-front, rather than on the back-end, creates at best a delay between when a shock is experienced and when it can be ameliorated. “Delay” can mean your kid skips meals, you start rationing your insulin, or your family is evicted from its home. It’s a big deal.”
It’s a little hard for me to settle on a start date for my personal social distancing. The formal stay-at-home order from the governor didn’t go into effect until March 21st, but the last thing I did that was really inconstant with proper distancing was on March 12th when I attended an aikido class (you really can’t remain distant and practice aikido). So, I’m calling it a month-ish of distancing.
I think of myself as semi-retired (because I am still writing and was still teaching my taiji class), but as a practical matter, I’m really actually retired. I’ve been drawing my pension for something like 5 years now, and Jackie has started drawing her social security.
So our financial circumstances as far as income goes are pretty much just as they were. (It may be that I won’t get paid for the last session of teaching taiji, since I only taught two of the planned eight weeks, but the actual dollar amount in question is pretty small.)
I assume my stock investments got crushed in the early reaction to the pandemic and have since recovered some, but to be honest I’ve not paid much attention. I had lightened up on stocks a couple of times in the past couple of years, and am pretty comfortable with my asset allocation. (I actually checked with Wise Bread to see if they wanted me to pitch them an article on “Investing in Plague Time,” but they said they’d completely shut down commissioning articles due to how the pandemic was hitting their income. I’ll recast the article as a blog post and put it up here pretty soon.)
As far as spending goes, we’re spending quite a bit less. We’re still trying to support local businesses—we’ve been buying groceries during geezer hour at Schnucks, and we restocked our liquor cabinet at Friar Tuck’s, taking advantage of their curb-side pickup scheme—but I’ve stuck to my new policy of only buying prepared food or drinks from businesses that provide paid sick time to everyone who might come into contact with my food, and so far I haven’t heard of any local restaurants or bars that do that. (If you know of any, let me know!) The upshot is that 100% of the food we’ve eaten this month has been prepared by Jackie or by me, which means it’s been both delicious and healthy.
I don’t have many pictures of the great dishes that Jackie has cooked—most recently khema made with grass-fed beef and served with chapatis—and it seems that I failed to get a picture of the lingcod seasoned after the fashion of Kerala roadside chicken (garlic, ginger, fennel, garam masala, turmeric) that I fried in coconut oil in my big cast iron skillet. However, here’s a few recent dishes:
Besides all the great food, we’re also enjoying (perhaps a little too much) our daily cocktail hour—often on-line with my brother and our mom. The folks I meet for coffee on Tuesday morning have been keeping things going by doing that on-line as well.
I do my workouts outdoors to the greatest extent possible—runs around the neighborhood, setting the rings up in Winfield Village’s basketball court, jumping rope and swinging the kettlebell in our little patio. Our neighbors all seem to be pretty good about respecting proper distancing practices, so it’s working okay so far.
While I’m on the subject of exercise, I wanted to mention in passing this hilarious tweet:
Just to say that, although getting ripped is perhaps not in the cards, I’m having a great time making the attempt.
Finally, I’m meaning to get back to getting some writing done, and to that end I spent all morning tidying up my desk:
At this moment (a couple of hours later), it is still just about that tidy, and I’ve used it to write this blog post. This afternoon I’ll use it to write a letter to my congressman and senators, urging them to support the post office. And then, I’ll see if I can’t get to work on some fiction.
Always nice to see the workers leveraging circumstances to their advantage, as I expect them to do over the next year or two.
emperor Justinian railed against scarce workers who “demand double and triple wages and salaries, in violation of ancient customs” and forbade them “to yield to the detestable passion of avarice” — to charge market wages for their labor…