Sunday Book Review Discussion (almost)

First, I have to comment on a few news items.  So Hong Kong is letting Edward Snowden leave some as yet to be determined bastion of freedom such as Russia or Cuba.  This high school drop out seems to have realized he done wrong (but still feels justified he did right) and wants to avoid paying the piper while enjoying his 15 minutes of celebrity.  He clearly has a problem with his value system and again offers a prime example of why high school dropouts should not be given work that requires a value system.  This is why college educations exist.  After you get a basic grounding in reading,writing, history, science and math, you go to college to learn philosophy, social sciences, and advanced training in science and math.

Along the way, you might have a few too many parties and other extracurricular activities, but somehow, with real academic standards, you will be taught values.  Some of my readers might be wondering if the current Congress has any values.  I think both the GOP and Democratic legislators are sticking to a calculus of reelection and power politics and there is nothing to indict college education  in their dysfunction.

I bring that up because there were two books reviewed in today's paper highlighting the problems with college education.   Book Review  The review discusses the unsustainabilty of the increasing cost of college and that is certainly an issue the education system must conquer, but as one who clearly benefited from college and graduate school education, I treasure the system that creates a path for an individual to find their way in life with a system of values.

Yes, college costs money and should have an economic return.  Yes, some people should not go to State U and instead go to Community College and learn a skill.  A capitalist system will figure all this out (and thankfully D.C. has bigger issues to argue about and won't be dealing with this for which they cannot have an answer).

I am finally reading Rick Atkinson's last book of his trilogy on WWII.  I recently read another very long book on the politics of WWII.  Stalin was an evil 2 timer who Hitler pissed off so thoroughly, that Stalin could not 2 time England and the U.S., which he might otherwise have done.  The inconsistency at high politics led to the U.S. being able to ship supplies to Vladivostok for Russian use against Germany without Japanese interference because Japan did not want the USSR to conduct or allow the US to conduct military action against Japan from the North.  Anyway, the seeds of Hitler's military demise were always his belief that he needed the land and resources of the Ukraine and the Caucasus's for Germany's ever expanding population.  Well he took care of that problem by killing millions of his own citizens.  I think when I am done with the current book, I will be done with WWII books.  I have an urge to read a good novel and escape from serious issues.

I had a nightmare about rising interest rates last night and how it would destroy the lives of my co-workers at my last firm.  Then I woke up and realized management had already done that and rising interest rates won't make it any worse.

The Fed is doing what it must and the markets just have to work through their reaction to find a new equilibrium.

Finally, there was an article in the paper on how it is cheaper for companies to pay a fine rather than provide health insurance.  Well yes it is.  It is also cheaper to not buy workers health insurance then it is to buy health insurance.  Companies provide health insurance because good workers want health insurance.  Bad workers probably want health insurance too, but no company is going to get 100% good workers if they do not provide health insurance.  And I would not hire a company that did not provide health insurance.  I might eat a restaurant as I will not check this out when I make a reservation.  The uninsured need a robust market for individual health insurance policies or, my preference, a transition needs to start to universal health insurance.