Saturday I took a nice break from the routine and went down to Torrey Pines (just north of La Jolla in San Diego County) to try paragliding for the first time ever. It was a very nice present from my brother Dick, and one of the highlights of my life. This is a picture of me sitting in front of an experienced pilot. The views were breathtaking, and I won't even try to describe it. I'm told that the Torrey Pines gliderport is one of the best—and safest—places in the world to do this sort of thing, and I don't doubt it for a second.
My wife and I tried it once in Switzerland. Like you, each of us sat in front of the 'pilot'. We ran directly down a grassy slope toward a cliff (seriously!) trailing the parachute. Fortunately we were airborne well before the dropoff. It was a terrific experience. The sun heated the side of a mountain and we rode the heat currents upward. You could literally stay up all day if you chose to, circling away from the mountain to glide down and closer to go back up. Pretty neat. We both loved it.
ReplyDeleteYour picture is really spectacular. The view down the coast must have been breathtaking.
Scott,
ReplyDeleteFrom your magnificent vantage point did you happen to spot Obama playing golf? :)
Scott-
ReplyDeleteWhile you were soaring, 10-years Treasuries fell to 3 percent.
You think the Fed can ease up now?
Scott,
ReplyDeleteAll riiiight!
While you escaped, for a time, politics and economics, some don't seem to have picked up the memo...
Benjamin: If I were a voting member of the Fed I would be arguing in favor of higher rates, not lower rates. My arguments would center around the evidence in market-based prices that there is an excess of dollar liquidity in the world that will eventually prove inflationary.
ReplyDeleteScott,
ReplyDeleteThose excess dollars of liquidity are apparantly being hoarded by a fearful investment community. All the 'coming storm' followers sound smart, seeing the snake most people missed in 2008. Everyone wants to either make 'fast money' with quick flips or sit in treasuries until after the 'debacle' passes (if it ever does). Optimistic forcasts are dismissed as naive and 'double dip' is the phrase-of-the-month instead of 'euro meltdown' (last month's apocolyptic scenario).
Until the fear subsides demand for liquidity looks to remain high, soaking up the dollars provided by an accomodative fed. Not much inflation either until this condition abates.
Any ideas on July's 'meltdown of the month' candidate?
Scott-
ReplyDeleteYou may wish to drop in on Money Illusion, written by a right-winger.
Low interest rates are a sign of tight money policy, not loose. And low inflationary expectations.
We also have low interest rates as there is plenty of global capital, everywhere. Global savings rates are high, meaning we have capital galore. Supply and demand, means lower rates.
At Money Illusion, the word is we need qualitative easing.