Wednesday, August 17, 2011

Why Me?

Today I will meet my parents at their bank to do the necessary paperwork allowing me to start paying their bills every month. From there I will drive across town to attend the funeral of the mother of one of my good friends and business partners. Then I will plunge further into the murkiness inherent in the process of changing Broker-Dealer affiliations, with the mountains of paperwork and the Byzantine complexities that await me in that unhappy place. Then I will pay the bills at work, transfer money from one of my checking accounts to three other checking accounts that require attention. When, in the name of all that is holy, did I become an adult?

For most of my life after age 40 I have looked around at my contemporaries with a mixture of confusion and pride and confidently told myself that I wasn’t like them. I was different. They were older somehow. They had surrendered to middle age and the muddled thinking that goes with it. They were stuck on the upwardly mobile treadmill that is America in the 21st century with its quest for bigger homes, flashier cars, nicer stuff. They were all into country clubs and beach houses and the tyranny of keeping up with it all. But not me. Instead of becoming chairman of the deacons at church, I worked with the kids in the youth department. Instead of networking with like-minded professionals, I preferred the company of pimple-faced teenagers at summer camp. Instead of reading business magazines and trade publications, I read everything else , from PJ O’Rourke to Dostoevsky. Instead of falling in line and becoming a Republican, I somehow became weirdly libertarian. All of this, I convinced myself, was good because I never wanted to become a boring conformist. Its not that I disliked my contemporaries or even that I felt superior to them. I was just determined not to end up like everyone else, living a life sucked empty of joy and spontaneity by the demands of abundance. I didn’t want to wake up one day and find myself consumed by the plodding details of middle age….but wake up I have.

Another thing, when most of my Christian friends read the New Testament it brings them comfort. They find in the life of Christ validation of their view of the world. For me, the New Testament troubles me and the life of Jesus feels like a stunning rebuke. The strength of my belief in him has, if anything, increased. But my understanding of what my life should look like in light of his teachings has taken a few blows. How does my increasing prosperity square with his admonition to provide for the “least of these”? What cross do I take up every day? If Jesus founded the church and we worship a risen savior why does church bore me so? Why can I not shake the feeling that the couple of hours I spend in church are the most inconsequential hours of the week?

For me, age has not brought clarity. It has brought only more questions. Any wisdom that has fallen on me through the passage of time has been the wisdom of greater humility. With many people age and a measure of success brings the bad seed of pride. For me, it has brought questions. Primarily…why me??






Monday, August 15, 2011

Empty Nest II

The living room of my house is packed full of my daughter’s new life. There are boxes of shiny new appliances. There’s color coordinated art work for the bare walls that await her. There’s her old day bed from high school that has been hauled down from the attic and festooned with a red, white and black comforter and matching bed skirt, pillow cases, throw pillows, high thread count cotton sheets and something called a “valance”. There’s also the chest of drawers from the attic that was in her nursery when we brought her home from the hospital 24 years ago. It’s covered in dust and a couple of the drawers were inexplicably filled with very short shorts with a 34 waist that I am ashamed to say don’t fit me anymore. Anyway, its all there in our living room. She is excited to be heading off to graduate school. I am excited that she’s paying for it herself with money she worked hard for this past year while she’s been living with us. So, next Wednesday we will pack it all in a 10’ U-Haul truck and make the 4 hour drive to her rental house in Winston-Salem near the campus of Wake Forest University. We will spend two days putting everything together and getting her settled in her exciting new place. Then maybe Pam and I will continue on down the road another 7 hours to Nashville to check on our son. He’s been in a new apartment for a few months now. When we moved him in and put all of his stuff together it looked great, but I’m sure its like something from Dante’s Inferno by now. After a couple of days visiting him Pam and I will make the long 9 hour drive back to Richmond for the second time to an empty nest.

The first time was truly awful, long grueling hours of tears and more tears. Then we actually left the parking lot and began the drive home! For a few weeks it was like we lived in a museum or some kind of depressing warehouse for used memories. But after awhile it dawned on us that we had the entire house to ourselves and since we were all out of tears we began in earnest to take full advantage of all that privacy. It was liberating. We discovered that we both actually really did love each other. What a bonus!! This time I’m sure there will be more tears and we will mourn a little the relentless march of time. But we know that what awaits us back here in Richmond is our home and the rest of our life together. It’s a life I wouldn’t trade with anyone, with the most beautiful, gifted, and tender-hearted woman in the world. Bring it on.

Thursday, August 11, 2011

Stuff I Actually DO Know

There are a thousand things about the global financial crisis now occurring about which I am completely in the dark. The level of interconnected complexities inherent in this system is beyond my pay grade. However, there are several things about this mess that I know, without a doubt to be certifiably true. The first step in understanding the complex is to clearly state what is known. So, in the spirit of discovery, and for personal therapeutic reasons, I offer the following certainties:

1. American banks, large and small, have on their balance sheets millions of underwater mortgages. These were ill-advised loans made to unqualified borrowers with insufficient equity stakes in property which has dropped precipitously in value. Now the banks “own” homes that are worth far less than what the bank is owed. There are many villains in this stupid tale, banker greed, home-owner vanity, government malfeasance etc.. but at this point it doesn’t matter. The problem is primarily this, how does the bank put a value on this huge section of their balance sheet? Exactly how much is all of that real estate worth..today? They don’t know. How long will it take for real estate prices to recover so as to remove this albatross from their future profitability? Nobody knows. If nobody knows the answers to these vexing questions, then how can a reasonable investor make an informed decision about the health and safety of banks? This explains everything I need to know about why banks are so reluctant to lend money these days.

2. American banks and huge brokerage firms like Goldman-Sachs have always loved buying the stock of other banks and brokerage firms, especially those in Europe. Even better, they love buying the sovereign debts of those countries. So, if Greece or Italy, Spain, Portugal, or even France were to default, then that would mean that American banks would hold even MORE worthless stuff than they do now! Who knows, maybe their holdings of sovereign debt would be so awful, it would make everyone stop worrying about all the worthless real estate they own!

3. America is filled with men and women who don’t participate in recessions. These hardy business owners are so busy producing goods and services at a fair value, they don’t have time to watch CNBC and listen to all the experts tell us how terrible things are. They spend most of their spare time trying to figure ways to get better. It’s these people who keep this country afloat and I thank God every day for each and every one of them. But these men and women, who pay this country’s’ bills are not indestructible. They have been taxed, regulated, impugned and harassed to within an inch of their lives over the past twenty years or so, and my biggest fear is that one day they are going to tell the rest of us to take a hike. One day the entrepreneurial class in America just might say…”Let me up, I’ve had enough”. If that day ever comes, we are screwed.

Tuesday, August 9, 2011

Stuff I Thought I Knew

The list of things that I thought I understood but now realize that I’m clueless about continues to get longer. They include but are not limited to the following:

1. The assumption that under girds all of Western Civilization that in times of great crisis, the cream rises to the top. The notion that great leaders evolve out of the stress and tumult of great events providing steadiness and visionary leadership. Just a few examples would include Queen Elizabeth, and Winston Churchill from Great Britain, Charlemagne, Otto Von Bismarck and Martin Luther from Germany, and even (although I know this is a stretch) Charles De Gaulle from France. In our own country, in just 235 short years, our turbulent seas have brought forth Washington, Jefferson, Madison, Abe Lincoln, two Roosevelts etc..etc.. But in 2011 we are being governed by the three little pigs ( Obama, Geithner, and Bernanke ) and a host of incompetent boobs in Congress from the shrill and inept Harry Reid and Nancy Pelosi to the blandly uninspiring Republican trio of Eric Cantor, Mitch McConnell and the creepy tan-in-a-can John Boehnor. Add to this the prospect of a 2012 presidential campaign of Obama vs. Snow White and the Seven Dwarfs and well, so much for assumption number 1.

2. I invest money for a living so I know all about the volatility of the stock market. I’m totally aware of the random walk theory of equity prices. I completely get the short term insanity that can sometimes grip investors. But when I see in one trading day the Dow go up 200 points, stay in that general range most of the day, then tank into negative territory in a matter of minutes after one of the Three Little Pigs referenced above opens their pie-holes, then in less than an hour skyrocket to finish up 429 points on the day I can only conclude that…somebody is screwing with us. There’s just something not quite random about this walk and it has me watching the skies for black helicopters.

3. As a Christian I have always believed that our faith was what made the ultimate difference in how we handled adversity. While certainly not exempting us from the vagaries of life, faith in Christ would allow us to accept any cruelty of circumstance that might one day come our way with grace and good cheer. As I have gotten older however I am increasingly seeing that ultimately it hasn’t made a measurable difference. We all get old and infirm and we all rail against the ravages of time with far less grace than many non-believers. For this reason I wish to die in a plane crash or some sky-diving accident or unfortunate bathroom incident before the anger and bitterness of growing old lays bare my lack of faith to my children.

4. Even though here in the West we like to indulge the sociologists among us with their dopey excuse making when it comes to violence and mischief-making by the underclass, I have always believed that this was simply an indulgence that could only thrive in times of relative peace. Surely if hoodlums actually went wild in the inner cities and started pillaging entire cities the grownups would wake up and impose order out of the chaos. But the past three days has seen bands of hooded punks literally burning down the great city of London and the ruling elites of that once great country have spent three days debating whether to deploy the “water-canon” to restore order, debating whether it was moral to fire rubber bullets at the mob. Politician after politician has risen up in Parliament to blame “budget cuts “ for the mayhem while the rest of England has watched gleeful teenagers balancing big screen TV’s on their shoulders stolen from burning stores with no police in sight. Have we actually come to the place where we lack even enough confidence to defend society from lawlessness?? Apparently so.

Thursday, July 28, 2011

And Now For Something Completely Different...

And now for something completely different…truth in politics. Wouldn’t it be great if politicians felt secure enough to tell us what they really think? Suppose there were no polls or focus groups and the two parties could just come out with it. Because we are Americans this concept seems incomprehensible. We are conditioned to spin-meisters. All of us instinctively know that whatever our elected officials say is carefully field-tested to appeal to the widest demographic possible. Consequently, we sorta know that we’re being lied to and we accept it as a political fact of life. But, how cool would it be if they just threw caution to the wind and let fire with what all of them wish they could say?

For Democrats it would be liberating. They could stop pretending to like the private sector. They could just come out and say that business is evil and it’s the job of government to take as much money from the rich as humanly possible. See, the problem isn’t that we have too many entitlement programs that cost too much, the problem is that we don’t have enough welfare and the only reason we have budget shortfalls is because the American people don’t pay enough in taxes. Democrats know that the average American is too stupid and too lazy to take care of himself. Besides, even if he can, the odds are stacked against him because this country is irretrievably racist, homophobic, and misogynistic. Those who have succeeded have done so through no personal ingenuity, but rather on the backs of others. Therefore the government has an obligation to step in and level the playing field by eliminating the class and economic disparities that unfairly exist in our society. For Democrats history is simply the story of mankind evolving away from the greed and self-interest of the individual to the utopian paradise of the collective. Each of us needs to give up our personal ambitions and desires and let the government have more and more of our money so that all of the ambitions and desires of everyone can be achieved. They could just cut all the crap about tax rates and fairness and just go ahead and say that the rich should pay a minimum of 75% of their income in taxes and be grateful that it isn’t 90%. With the new-found revenue that would flow into Washington, the great society would finally be in reach. Everyone would have free health care. College education would be free to all. People who lose their jobs would get 100% of their pay for as long as it took until they found a job. Housing would be free. Food would be free. It would be a beautiful world.

For Republicans it would be equally liberating. They could stop pretending to support Social Security and Medicare. They could just admit that the only reason they say that they do support these things is that they realize that the American people do by huge margins and to say otherwise would destroy their careers. They could unburden themselves of their core belief that all of the welfare legislation that has been passed from FDR through LBJ is in the process of destroying the fabric of the country by turning us into a nation of dependant slobs. The type of Americans who established the 13 colonies, tamed the West, and won WWII no longer exist because the modern welfare state has destroyed the epic American spirit of rugged individuality and self reliance. The modern nanny state has made pussies of us all. The real problem with the debt ceiling is that it should be lowered, not raised and we should be talking about scaling back government spending, not just slowing its growth. For Republicans, it would be such fun to just look out at a rally and say something like…”If you people expect the government to take care of you, then move to Norway! This is America. The sky is the limit here and if you want a big slice of it, its yours for the taking. Elect me and I’ll fight to help you keep as much of your own money as possible. But don’t even think of asking me to trim the defense budget because we republicans love the concept of Empire and we like to be able to kick ass every once in awhile. Oh, and if you lose your job, don’t come running to us to pay you a bunch of money for sitting on your assets for two years looking for work. That’s what a savings account is for! Want health care?…buy insurance. Can’t get insurance because youre sick? Sorry. Life is and always has been unfair. Think the government should pay all of your medical bills?…then move to Cuba. I mean really…you think we can provide health insurance for 300 million people? Have you been to the DMV or tried to mail a package at the Post Office lately? You’re on your own out there, like its been for 5000 years of recorded history…deal with it!”

The truth is this. There are more Americans who want the government to take care of them than there are Americans who want the government to leave them alone. Which is why we have a debt ceiling crisis. Ultimetely, the Democrats will win and before too much longer they won’t have to lie about it anymore.

Sunday, July 24, 2011

Dummers Beach Journal...Part Five

Our last day at Dummers dawned clear and bright and I felt like my old self. I slept all the way through the night and awoke without a headache. I drove up to Morning Glory bakery, bought 4 muffins and a paper and returned to camp to drink my coffee on the beach. The mountains looked bigger somehow and closer. The sky was filled with thin feathery clouds with a soft half-moon still visable against the pale blue. The forecast was for hot temperatures today but just as I headed back to camp for breakfast a wind had started to blow, raising waves from west to east across the lake, a good sign.

Breakfast was typical Webb Lake cuisine. Bacon and ham, French toast, muffins and juice, and for the first time all week I could actually taste it. Wonderful. By this time a steady wind was blowing, the thin high clouds were thinning further and the sun was getting hotter. We made it to the beach by 10 or so and immediately went for a swim. The water was surprisingly warm and the slow agony of walking a half an hour in thirty minutes before we could jinn up the courage to go under was replaced by going under right away and doing the Dummers Beach crawl in reverse. All morning the view across the lake was stunning. At one point a float plane circled overhead, landed about a mile to the north then took off again soaring up towards Tumbledown mountain. The dude was clearly showing off and I was insanely jealous. Pam suggested that the four of us head to the canteen for a snack. All the very best candy was available, cow tails, Snickers, and the most delicious Nutty Buddy ever! Upon returning to our favorite spot on the beach and after an hour or so of reading, Pam and Kaitlin decided that it was time for lunch. Flashing their best 19th century feminine wiles they offered to serve us on the beach! There would be fluffer-nutter sandwiches, finely sliced chunks of watermelon, our choice of chips, and cold iced tea. Clearly, this place has magical powers.

The rest of the day was spent swimming, floating on rafts, and engaging each other in relaxed conversation. Surprisingly, no tears were shed. Because this would be the last day, Pam was determined to stay in the moment and enjoy every second. After a delicious dinner of Italian grilled chicken, we all loaded up in two cars and made the pilgrimage all the way to Farmington for Gifford’s Ice Cream. The night was perfect with not a trace of humidity, a fine breeze blowing. Heading back to camp we could see the fiery western sky in the distance. The sunset at camp would be incredible if only we could make it there in time. Although we missed the best of it, we all gathered in chairs by the lake to watch the dying embers of this perfect day in Maine. The camp fire later was quiet and soothing, but the smoke kept drifting to where Russ sat. He pointed out that this simply proved the old adage that smoke follows the “most beautiful” person!

We awoke to dark skies and a light mournful rain. It seems that every year we pack up in the rain. Sharon thought that the Lake was crying with us. It was a very sad morning. After saying our good-byes we began the 14 hour trip home. For Pam the tears didn’t slow until we made it to the Maine Turnpike. We arrived home at 11:15 last night to a rapturous welcome from Molly. Now I face the tyrannies that await me at the office, the demands that the real world makes upon me. Today I will rest, prepare for the hectic week ahead, and do my chores. But in a quiet corner of my mind I will linger on that beach and listen for the Loons.

Friday, July 22, 2011

Dummers Beach Journal...Part Four

Of all of the most dreaded contingencies of life, being ill while on vacation isn’t the worse thing that can happen to someone, I suppose. I mean, it’s certainly not as bad as being told by a doctor that you have a rare disease that will prohibit you from ever eating cheese again. It’s not as bad as being forced to watch reality TV all day, or even worse...C-SPAN. But as someone who has been sick almost from the day that I arrived on the sun-splashed shores of Webb Lake, I am here to tell you that it IS worse than most things.

Yesterday it got so bad I had to drive myself to the Farmington Medical Center. I was prepared to write a snarky piece about my experiences in what I was sure would be some rundown backwoods hospital. I had even come up with a name for the place…the Farmington Medical Center/ Book-Emporium/ Late-Night Car Wash, etc.. But I was pleasantly surprised to find the place to be a first-class facility with courteous, competent employees who all seemed devastated that I was here on vacation and had gotten sick. They were even more devastated to tell me that I had the mother of all colds, a venomous brew of bronchitis and sinusitis that would require high powered antibiotics and strong cough medicines. Today I sleep-walked through the day. But tonight I’m screwing on a happy face and taking the family to the Kawanhee Inn for a lovely dinner which for me will be tasteless. Afterwards, as is our tradition, we will pose for a photograph on the beautiful deck that overlooks this great lake. When you see it, you will not be able to tell that I am sick. But every time I look at it for the rest of my life, I will remember the endless coughing, no appetite, sleep-deprived, getting up to pee 5 times a night because of the stupid medicine I was taking ordeal that this week has been.

Today at lunch Vi walked up to the table all excited to tell us that they had in fact sold the camper for full price to a couple of real nice Christian ladies who were just thrilled to have it. Pam instantaneously burst into tears. Even though she understands what good news this was for them, my wife is a person of huge heart and immense loyalties. When the finality of the transaction was announced, she just was overwhelmed with loss. I feel for her and admire the intensity of her emotion. The next few days will be tough last days, as all “last days” are but we will get through it as a family. It’s what families do. It will be my job for the rest of my life to find a place that will, over time, take up residence in her heart. Nothing will ever replace Dummers for Pam, but a new place that we can call home in July will help us build new memories. Family is all about place, and for Pam this was that place for over 45 years. A new place is waiting for all of us out there somewhere. It’s my job to find it.