Love and Money
I love this article, from the July 13 Business Section of the New York Times. The author looks at love from an analytic point of view. Good reading, interesting ideas. Altogether, a delightful and intriguing read.
By BEN STEIN
Published: July 13, 2008
AS my fine professor of economics at Columbia, C. Lowell Harriss (who just celebrated his 96th birthday) used to tell us, economics is the study of the allocation of scarce goods and services. What could be scarcer or more precious than love? It is rare, hard to come by and often fragile.
My primary life study has been about love. Second comes economics, so here, in the form of a few rules, is a little amalgam of the two fields: the economics of love. (I last wrote about this subject 20 years or so ago, and it’s time to update it.)
•
In general, and with rare exceptions, the returns in love situations are roughly proportional to the amount of time and devotion invested. The amount of love you get from an investment in love is correlated, if only roughly, to the amount of yourself you invest in the relationship.
If you invest caring, patience and unselfishness, you get those things back. (This assumes, of course, that you are having a relationship with someone who loves you, and not a one-sided love affair with someone who isn’t interested.)
•
High-quality bonds consistently yield more return than junk, and so it is with high-quality love. As for the returns on bonds, I know that my comment will come as a surprise to people who have been brainwashed into thinking that junk bonds are free money. They aren’t. The data from the maven of bond research, W. Braddock Hickman, shows that junk debt outperforms high quality only in rare situations, because of the default risk.
In love, the data is even clearer. Stay with high-quality human beings. And once you find that you are in a junk relationship, sell immediately. Junk situations can look appealing and seductive, but junk is junk. Be wary of it unless you control the market.
(Or, as I like to tell college students, the absolutely surest way to ruin your life is to have a relationship with someone with many serious problems, and to think that you can change this person.)
•
Research pays off. The most appealing and seductive (that word again) exterior can hide the most danger and chance of loss. For most of us, diversification in love, at least beyond a very small number, is impossible, so it’s necessary to do a lot of research on the choice you make. It is a rare man or woman who can resist the outward and the surface. But exteriors can hide far too much.
•
In every long-term romantic situation, returns are greater when there is a monopoly. If you have to share your love with others, if you have to compete even after a brief while with others, forget the whole thing. You want to have monopoly bonds with your long-term lover. At least most situations work out better this way. ( I am too old to consider short-term romantic events. Those were my life when Lyndon Johnson and Richard Nixon were in the White House.)
•
The returns on your investment should at least equal the cost of the investment. If you are getting less back than you put in over a considerable period of time, back off.
•
Long-term investment pays off. The impatient day player will fare poorly without inside information or market-controlling power. He or she will have a few good days but years of agony in the world of love.
To coin a phrase: Fall in love in haste, repent at leisure.
•
Realistic expectations are everything. If you have unrealistic expectations, they will rarely be met. If you think that you can go from nowhere to having someone wonderful in love with you, you are probably wrong.
You need expectations that match reality before you can make some progress. There may be exceptions, but they are rare.
•
When you have a winner, stick with your winner. Whether in love or in the stock market, winners are to be prized.
•
Have a dog or many dogs or cats in your life. These are your anchors to windward and your unfailing source of love.
Ben Franklin summed it up well. In times of stress, the three best things to have are an old dog, an old wife and ready money. How right he was.
THERE is more that could be said about the economics of love, but these thoughts may divert you while you are thinking about your future.
And let me close with another thought. I am far from glib about the economy. It has a lot of pitfalls facing it. As workers and investors, we know that many dangers lurk in our paths.
But so far, these things have always worked themselves out and this one will, too. In the meantime, they say that falling in love is wonderful, and that the best is falling in love with what you have.
Ben Stein is a lawyer, writer, actor and economist. E-mail: ebiz@nytimes.com.
Strange Bird
It’s the strangest bird. He settles on the balcony off my kitchen around dusk. It doesn’t bother him that I am inside moving around, preparing dinner. It doesn’t bother him in the least that the Qatteri Cat is jumping at the window and miow-ing wildly. When I bribe the Qatteri Cat to leave the kitchen, and I shut the door and take some bread pieces out to the bird, he doesn’t fly away.
He’s still there when I go to bed. He is there at 4 in the morning, when I can’t stand not knowing if he is there or not. When I get up – after dawn – he is gone.
I am glad he felt safe enough to spend the night on the balcony. I am also glad he was able to fly away the next morning – I was afraid he wasn’t well. Maybe stunned from flying into a window or something. Maybe (gasp) bird flu. It was a relief to know he flew away on his own power, and that he he was just spending the night on my balcony.
Fresh Orange Souffle
This recipe is a little more complicated than most, because of the collar, but once you’ve done it – and it isn’t that hard – it is a piece of cake. You can leave out the Grand Marnier and it still tastes just fine. Delicious and cooling, light on a hot hot hot summer’s eve in Kuwait – or anywhere else. 🙂
Fresh Orange Souffle
This is another recipe from our time in Tunis, where oranges are so good and so sweet!
2 small naval oranges
2 envelopes unflavored gelatine
6 eggs
1 cup sugar
1 can frozen concentrate for orange juice, thawed
2 Tablespoons lemon juice
1 pint heavy cream
1/4 cup Grand Marnier or other orange flavored liquer
1. Prepare six cup clear souffle dish, or other clear straight sided glass dish with a collar – here’s how. Fold a 24” length of waxed paper in half lengthwise, wrap around dish to make a 3 “ extension of dish. Tape or use string to hold in place. (You use a clear glass dish so that the sliced oranges show around the sides)
2. Cut one orange into thin slices, arrange slices against side of souffle dish, chill.
3. Grate rind from remaining orange, measure 4 teaspoons.
Squeeze the juice of the oranges; measure into 1 cup measure adding water, if necessary, to equal 1/2 cup. Sprinkle gelatin over the orange juice, let stand 5 minutes to soften.
Set cup in a saucepan of simmering water, stirring until gelatin is completely dissolved. Remove from heat.
4. Beat eggs and sugar in a large bowl with electric mixer at high speed until thick and light. (10 – 20 minutes)
5. While eggs are beating, whip 1 1/2 cups of the cream in a small bowl until soft peaks form, refrigerate.
6. Combine orange rind, orange juice concentrate, lemon juice, orange liquer and dissolved gelatin; pour into egg mixture. Continue beating the mixture until it is well blended. Remove bowl from mixer, chill about 5 minutes by placing in larger bowl lined with ice cubes. Stir often, just until mixture mounds slightly when spooned.
Fold whipped cream into chilled mixture until no streaks of white remain. Pour into prepared dish, taking care not to disturb the orange slices. Refrigerate until firm, about 4 hours.
9. To serve, gently remove collar. Beat remaining cream in a small bowl until stiff. Garnish with chopped pistachio nuts.
Warning: Ummm, I just remembered, this is an old fashioned recipe that uses raw eggs. People with immune system difficulties, pregnant women, anyone worried about raw egg issues should not eat this souffle.
Ministry Conducts Demographics Study
This is from today’s Kuwait Times. I LOVE demographics. I love tagging factors, loading them all into a data base and seeing where the stats fall. You learn so much.
The Ministry of Social Affairs and Labor is studying effective means to rectify the country’s demographic imbalance. The ministry has reportedly reached the conclusion that the blend of different nationalities in Kuwait has proved detrimental to its societal fabric. One Arab nation’s expatriate population in the country has exceeded 300,000, sources say, which puts the states economic and political stability at great risk. Sources said that the matter is complicated and needs all the ministries’ undivided support.
Expatriates, it is felt, bring with them their own modern culture and customs which are alien to the local citizens, most of whom follow archaic customs deeply rooted in tribal practices. Expatriates are also accused of taking the law into their own hands without approaching the concerned authorities whenever they are confronted with a problem. It has also been observed that expatriates belonging to a certain nationality inhabit certain areas in droves, leaving security officials at a loss to change the situation.
As a move towards controlling the situation, the ministry is to form a permanent committee comprising officials from different ministries to scrutinize all the expatriates who arrive at Kuwait.
It will issue a fitness certificate to eligible expatriates on the lines of medical fitness test. Employers will then be able to decide whether to appoint those workers or repatriate them. The ministry also plans to come down heavily on expats who obtain jobs using illegal residence permits.
Hmmm. Rectifying the population imbalance might require giving up expatriate labor. What laborers do you want to give up? The largest number are probably doing low-skill level work – cleaning houses, cleaning the streets . . .Or do you want to give up those who are managing your stores, taking your orders in all the restaurants, cooking, taking care of the office chores?
I can guess which expatriates are bringing in alien modern customs and practices, but unless you are going to give up television, cable, the internet and travel . . . that train has probably left the station.
So which nationality has over 300,000 expats in Kuwait? And which nationalities “inhabit certain areas in droves?”
Who takes the law into their own hands?
First Dates
There are some advantages to being in Kuwait in the dead heat of summer. One is that even in peak driving time, the roads are far less crowded. Restaurants are less crowded. Shops are full of all the things that go missing when the entire population is in town.
And – if you are here in July, and if you have good Kuwaiti friends with date trees – you get a big bowl of fresh, sweet DATES!
These are unbelievably yummy. I always liked dates, but until we moved to Tunisia, I didn’t know the pure joy of fresh dates. Living in Kuwait when the first dates of the season start ripening – pure bliss.
No, my Kuwaiti friends are very generous, they gave me a great big plate of dates, it’s just I’ve already eaten most of them! I had to take a photo quickly, before I ate the few remaining!
I went to Wikipedia on Date Palms to discover there are countless varieties of dates. They give this lengthy list of dates, and then say that in Iraq there are more than 100 different dates cultivated:
Aabel – common in Libya
Ajwah – from the town of ‘Ajwah in Saudi Arabia, it is the subject of a famous hadith of the prophet Muhammad.
Al-Barakah – from Saudi Arabia
Amir Hajj or ‘Amer Hajj’ – from Iraq, these are soft with a thin skin and thick flesh, sometimes called “the visitor’s date” because it is a delicacy served to guests.
‘Abid Rahim (Arabic: عبد رحيم), from Sudan
Barakawi (Arabic: بركاوي), from Sudan
Barhee or (barhi) (from Arabic barh, a hot wind) – these are nearly cylindrical, light amber to dark brown when ripe; soft, with thick flesh and rich flavour. One of the few varieties which are good in the khalal stage when they are yellow (like a fresh grape as opposed to dry, like a raisin).
Bireir (Arabic: برير) – from Sudan
Deglet Noor (Arabic: ‘translucent’ or ‘date of light’) – so named because the centre appears light or golden when held up to the sun. This is a leading date in Algeria, the USA, and Tunisia, and in the latter country it is grown in inland oases and is the chief export cultivar. It is semi-dry and not very sweet.
Derrie or ‘Dayri’ (the ‘Monastery’ date) – from southern Iraq – these are long, slender, nearly black, and soft.
Empress – developed by the Deval Family in Indio California USA from a seedling of ‘Deglet Noor’. It is larger than ‘Deglet Noor’, somewhat softer and sweeter. It generally has a light tan top half and brown bottom half.
Ftimi or ‘Alligue’ – these are grown in inland oases of Tunisia.
Holwah (Halawi) (Arabic: ‘sweet’) – these are soft, and extremely sweet, small to medium in size.
Haleema – in Hoon, Libya (Haleema is a woman’s name)
Hayany – from Egypt (Hayani) (Hayany is a man’s name) – these dates are dark-red to nearly black and soft.
Iteema – common in Algeria
Kajur – common in Pakistan / India
Kenta – common in Tunisia
Khadrawi date / Khadrawy (Arabic: ‘green’) – a cultivar favoured by many Arabs, it is a soft, very dark date.
Khalasah (Arabic: ‘quintessence’) – one of the most famous palm cultivars in Saudi Arabia, famous for its sweetness level that is not high nor low, thus, suits most people. Its fruit is called ‘Khlas’. Its famous place is ‘Huffuf’ (Al-Ahsa) in the Eastern Province of Saudi Arabia (Al-Sharqheyah).
Khastawi (Khusatawi, Kustawy) – this is the leading soft date in Iraq; it is syrupy and small in size, prized for dessert.
Maktoom (Arabic: ‘hidden’) – this is a large, red-brown, thick-skinned, soft, medium-sweet date.
Manakbir – a large fruit which ripens early.
Medjool date
Medjool or (Mujhoolah) (Arabic: ‘unknown’) – from Morocco, also grown in the USA, Saudi Arabia, Jordan and Israel; a large, sweet and succulent date. It is named unknown because who owned it at first didn’t know its specie and thus called it unknown.
Migraf (Mejraf) – very popular in Southern Yemen, these are large, golden-amber dates.
Mgmaget Ayuob – from Hoon, Libya
Mishriq (Arabic: ‘East’ – مشرق) – from Sudan and Saudi Arabia
Nabtat-seyf – in Saudi Arabia.
Rodab – from Iran, they are dark and soft.
Sag‘ai – from Saudi Arabia.
Saidy (Saidi) – soft, very sweet, these are popular in Libya.
Sayer (Sayir) (Arabic: ‘common’) – these dates are dark orange-brown, of medium size, soft and syrupy.
Sekkeri – (lit. sugary) Dark brown skin; distinctly sweet and soft flesh, from Saudi Arabia.
Sellaj – in Saudi Arabia.
Tagyat – common in Libya.
Tamej – in Libya.
Thoory (Thuri) – popular in Algeria, this dry date is brown-red when cured with a bluish bloom and very wrinkled skin. Its flesh is sometimes hard and brittle but the flavour described as sweet and nutty.
Umeljwary – in Libya.
Umelkhashab – Brilliant red skin; bittersweet, hard white flesh (Saudi Arabia).
Zahidi (Arabic: ‘[Of the] ascetic’) – these medium size, cylindrical, light golden-brown semi-dry dates are very sugary, and sold as soft, medium-hard and hard.
Morning Reflections
I am sure you have noticed that I have not been taking any sunrise photos lately; one problem with summer is that the sunrises tend to go flat. There may be no horizon, there may be dust and haze, or one sunrise just looks exactly like the day before.
Not this morning! This morning, the Gulf had alternate patches of glass and wave activity, making for an unusually reflective and glorious sunrise:
Weight Loss: Fat Burning Beads
I could not believe my eyes. Would you buy these beads? You can read the entire story at BBC Health News.
‘Fat-burning’ bead marketing ends
A company that said its “fat-burning” beads triggered “automatic weight loss” has agreed to stop marketing in the UK.
One claim suggested that Accu-Slim Beads worked “faster than total starvation” by placing one bead behind each ear.
The Office of Fair Trading (OFT) sought assurances from Global DM Licensing, based in Hong Kong, that it would stop mailings being sent to UK consumers.
The OFT says thousands fall victim to claims about weight loss products.
Misleading claims
The company, using the name The AccuSlim Centre, claimed the beads were “fat burning acupuncture without needles, diets, exercise or effort”.
It claimed that users could eat as much as they liked but still lose 30lbs in 30 days, as the bead stimulated acupressure points that led to automatic weight loss.
The company claimed guaranteed results and charged £65 for a package of up to 120 beads.
OOps – I just noticed that they only have to stop marketing these beads in the UK. So if someone approaches you on the streets of Kuwait offering to sell you fat-burning beads (wouldn’t you feel like punching someone who thought you needed fat burning beads?) DON’T BUY THEM! THEY DON’T WORK!
More Three Cups of Tea
The timing couldn’t be better. Thank you, Phantom Man, for sending a link to this New York Times article on Three Cups of Tea, from the July 13th New York Times.
By NICHOLAS D. KRISTOF
Published: July 13, 2008
Since 9/11, Westerners have tried two approaches to fight terrorism in Pakistan, President Bush’s and Greg Mortenson’s.
Greg Mortenson with Sitara “Star” schoolchildren. Photo: Fred R. Conrad/The New York Times
Mr. Bush has focused on military force and provided more than $10 billion — an extraordinary sum in the foreign-aid world — to the highly unpopular government of President Pervez Musharraf. This approach has failed: the backlash has radicalized Pakistan’s tribal areas so that they now nurture terrorists in ways that they never did before 9/11.
Mr. Mortenson, a frumpy, genial man from Montana, takes a diametrically opposite approach, and he has spent less than one-ten-thousandth as much as the Bush administration. He builds schools in isolated parts of Pakistan and Afghanistan, working closely with Muslim clerics and even praying with them at times.
The only thing that Mr. Mortenson blows up are boulders that fall onto remote roads and block access to his schools.
Mr. Mortenson has become a legend in the region, his picture sometimes dangling like a talisman from rearview mirrors, and his work has struck a chord in America as well. His superb book about his schools, “Three Cups of Tea,” came out in 2006 and initially wasn’t reviewed by most major newspapers. Yet propelled by word of mouth, the book became a publishing sensation: it has spent the last 74 weeks on the paperback best-seller list, regularly in the No. 1 spot.
Now Mr. Mortenson is fending off several dozen film offers. “My concern is that a movie might endanger the well-being of our students,” he explains.
Mr. Mortenson found his calling in 1993 after he failed in an attempt to climb K2, a Himalayan peak, and stumbled weakly into a poor Muslim village. The peasants nursed him back to health, and he promised to repay them by building the village a school.
Scrounging the money was a nightmare — his 580 fund-raising letters to prominent people generated one check, from Tom Brokaw — and Mr. Mortenson ended up selling his beloved climbing equipment and car. But when the school was built, he kept going. Now his aid group, the Central Asia Institute, has 74 schools in operation. His focus is educating girls.
To get a school, villagers must provide the land and the labor to assure a local “buy-in,” and so far the Taliban have not bothered his schools. One anti-American mob rampaged through Baharak, Afghanistan, attacking aid groups — but stopped at the school that local people had just built with Mr. Mortenson. “This is our school,” the mob leaders decided, and they left it intact.
You can read the entire article in the New York Times by clicking on the blue type.
Cat Quotes (Only for Cat People!)
Cat Quotes:
“Managing senior programmers is like herding cats.” –Dave Platt
“Do not meddle in the affairs of cats, for they are subtle and will piss
on your computer.” –Bruce Graham
“There is no snooze button on a cat who wants breakfast.” –Unknown
“Thousands of years ago, cats were worshipped as gods. Cats have never
forgotten this.” –Anonymous
“Cats are smarter than dogs. You can’t get eight cats to pull a sled
through snow.” –Jeff Valdez
“In a cat’s eye, all things belong to cats.” –English proverb
“As every cat owner knows, nobody owns a cat.” –Ellen Perry Berkeley
“One cat just leads to another.” –Ernest Hemingway
“Dogs come when they’re called; cats take a message and get back to you
later.” –Mary Bly
“Cats are rather delicate creatures and they are subject to a good many
ailments, but I never heard of one who suffered from insomnia.”
–Joseph Wood Krutch
“People that hate cats, will come back as mice in their next life.”
–Faith Resnick
“There are many intelligent species in the universe. They are all owned
by cats.” –Anonymous
“I have studied many philosophers and many cats. The wisdom of cats is
infinitely superior.” –Hippolyte Taine
“No heaven will not ever Heaven be; Unless my cats are there to welcome
me.” –Unknown
“There are two means of refuge from the miseries of life: music and
cats.” –Albert Schweitzer
“The cat has too much spirit to have no heart.” –Ernest Menaul
“Dogs believe they are human. Cats believe they are God.”
“Time spent with cats is never wasted.” –Colette
“Some people say that cats are sneaky, evil, and cruel. True, and they
have many other fine qualities as well.” –Missy Dizick
“You will always be lucky if you know how to make friends with strange
cats.” –Colonial American proverb
“Cats seem to go on the principle that it never does any harm to ask for
what you want.” –Joseph Wood Krutch
more cat pictures
“I got rid of my husband. The cat was allergic.”
“My husband said it was him or the cat… I miss him sometimes.”
“Cats aren’t clean, they’re just covered with cat spit.
>>^,,^^,,^^,,^^,,^<
Cats don’t like being baptized.
A cat is always on the wrong side of the door.
A cat will always sit on whatever you’re trying to read.
A cat’s purr: The most effective stress medicine known.
Cats are quite good at domesticating humans.
Anything not nailed down is a cat toy.
Cats know Mom’s black suede gloves are giant tarantulas that need to be
killed.
Cats must attack their human’s shoelaces when they are tying them.
Cats must crawl into the dishwasher when it is full of clean dishes.
It’s always darkest before you step on the cat.
Cats must rub against your legs while you’re carrying two bags of
grocieries.
You’re not a real person until you’re ignored by a cat.
A Question of Balances
This made me laugh out loud – send to me by a good friend in, of course, Washington State:
God was missing for six days.. Eventually, Michael, the archangel, found him, resting on the seventh day.
He inquired, ‘Where have you been?’
God smiled deeply and proudly pointed downwards through the clouds, ‘Look, Michael. Look what I’ve made.’
Archangel Michael looked puzzled, and said, ‘What is it?’
‘It’s a planet,’ replied God, ‘and I’ve put life on it.. I’m going to call it Earth and it’s going to be a place to test Balance.’
‘Balance?’ inquired Michael, ‘I’m still confused.’
God explained, pointing to different parts of earth. ‘For example, northern Europe will be a place of great opportunity and wealth, while southern Europe is going to be poor. Over here I’ve placed a continent of white people, and over there is a continent of black people. Balance in all things.’
God continued pointing to different countries. ‘This one will be extremely hot, while this one will be very cold and covered in ice.’
The Archangel , impressed by God’s work, then pointed to a land area and said, ‘What’s that one?’
‘That’s Washington State, one of the most glorious places on earth. There are beautiful mountains, rivers and streams, lakes, forests, hills, and plains. The people from Washington State are going to be handsome, modest, intelligent, and humorous, and they are going to travel the world. They will be extremely sociable, hardworking, high achieving, carriers of peace, and producers of software.’
Michael gasped in wonder and admiration, but then asked, ‘But what about balance, God? You said there would be balance.’
God smiled, ‘There’s another Washington. Wait till you see the idiots I put there.
Recent Comments
intlxpatr on Give to Those Who Ask ExpatAlien on What Country am I Living … intlxpatr on Yellowstone: Old Faithful to C… Michelle on Yellowstone: Old Faithful to C… Cathy on No Grown-Ups in Charge Wikipedia Donate Button
Amazina
Early Voting in Florida
Here There and Everywhere 