Baseball91's Weblog

July 26, 2008

Gopher State One Call


When I was a young boy, below the age of 7, I learned the first rule of holes.  It was probably in the next 7 or 8 years that I started discovering the other rules.  But I still go back to the first rule of holes to help me understand finances. 


This week Ford reported a quarterly loss of 8 billion dollars.  I heard it on the radio, so I still do not believe it.  There was something more about veracity when you read something.  I always thought the written word had more holiness.  But based on the rule of holes, they had a big one in their balance sheet. 


Politics was a lot like romance in the old days, when a man tried to impress a woman.  I am not sure if that is how it was still done today when two lovers woo.  But according to the U.S. Government Accountability Office, in 2000, the government’s liabilities were just $20 trillion or two times the size of the economy.  Six years later government’s liabilities came to $50 trillion. The present value of all the major reported liabilities at that point was about four times the size of the U.S. economy in 2006, up a mind-boggling $30 trillion from fiscal 2000, or roughly $440,000 per U.S. household.  I had missed much financial reporting on these issues in the last 4 years.  I wonder if political reporters might start asking the candidates of both political parties questions on the state of the economy. 

And all of this was two years ago, before Fannie Mae, before oil increased 70% just in 2008.  In the wooing of 2008, see how many congressional or presidential candidates speak of the real world of finance.  It took a lot of unconditional love to vote for these people.    


In the meantime, in Minnesota we are watching nightly newscast sponsored by Franken and Coleman, the way Gillette used to sponsor the World Series.  What did these ads tell us about the sense of money of either Franken and Coleman?  What did these ads tell us about anything, except their concept about how to spend money? And why would you vote for any politician who spent money on ads from June through November.  Politicians it seemed, especially like a lot of men, tried to focus on other rules of holes beyond the first one.   


Even though those other rules are a lot more fun, the first rule of holes, which I learned about 4 feet under, is when you’re in one, stop digging. 

Now I know to call Gopher State One Call, to have them identify the hazards. 







1 Comment »

  1. Comment by baseball91 — October 22, 2016 @ 12:44 AM | Reply

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