This week we remember the 508-point, 22.6% stock market crash of October 19, 1987
In the summer of 1987 I had levered up, borrowing to buy a house and also committed to purchase a business. Watching TV that night my thoughts turned to my grandfather who, though an orphan, had worked himself into a position to buy a farm in the late 1920’s. Only to lose it in the Great Depression which was triggered by the stock market crash of October 1929. Obviously, he had borrowed lots of money and when the farm was repossessed his equity was wiped out. My thought that night was: “Are the Miller’s just unlucky?”
Last year for one reason or another (I cannot recall why) I picked up a copy of Peter Drucker’s book Innovation and Entrepreneurship. I was amazed when I found this title to the second chapter, “Purposeful Innovation and the Seven Sources for Innovative Opportunity”.
Is it plausible that 50th Year Jubilee and Year 6,000 converged in 1980?
Surely the Lord GOD does nothing Unless He reveals His secret counsel To His servants the prophets. (Amos 3:7)
The words of the Prophet Amos are undoubtedly true, yet we who try to discern prophetic words for events upcoming are most often found guessing at details and often guessing badly.
As the sub heading of this blog says “This is where I write to figure out what I think”. This post may be more about the “What do I think?” exercise than usual so please bear with me. It is not my purpose to stray too deep into this subject but there are some very interesting quirks that exist in our world. When I am done my hope is that the reader will be all the more convinced of the wisdom of considering the 7 and 50 rhymes (i.e. the biblical moedim) in their decision making.
For two years now negativity has seemed to be truth. Those who speak negativity are often seen as smarter than those who are optimistic. None-the-less for these two years we have had our instruction “be creative” – “work”. At times we optimistic souls have been told that our efforts will be for naught .
For some time, I have proposed that the modern 24/7/365 culture we live is damaging us. Our modern world has eliminated even the natural order of sleep time with our electric lights and electronic devices of entertainment and communication. Our consumer society wants 24-hour service and our businesses advertise their availability 24 hours a day – seven days a week, with the certainty that such service is a virtue. Is 24 hours a day – seven days a week service a virtue? Consider this instruction out of Deuteronomy.
“And beware not to lift up your eyes to heaven and see the sun and the moon and the stars, all the host of heaven, and be drawn away and worship them and serve them, those which the Lord your God has allotted to all the peoples under the whole heaven.” Deuteronomy 4:19
What did the ancient worshipers of the sun, moon and the stars see when they worshiped all the host of heaven? What was it that intrigued them and made them think of the sun and the moon and the stars as “gods”? As this picture demonstrates, when the shutter of a camera is opened at night, the stars in their courses are always moving.
Knowing that the human body needs sleep could it be that the ancients thought of these celestial beings as “gods”, because they were always moving, never stopping? Did they think of these always moving “gods” as an ideal to be copied?
Those on this journey of 6 days and a rest, might want to read The Undoing Project: A Friendship That Changed Our Minds, by Michael Lewis. Here is how the book is pitched on Amazon: How a Nobel Prize–winning theory of the mind altered our perception of reality.
Forty years ago, Israeli psychologists Daniel Kahneman and Amos Tversky wrote a series of breathtakingly original studies undoing our assumptions about the decision-making process. Their papers showed the ways in which the human mind erred, systematically, when forced to make judgments in uncertain situations. Their work created the field of behavioral economics, revolutionized Big Data studies, advanced evidence-based medicine, led to a new approach to government regulation, and made much of Michael Lewis’s own work possible. Kahneman and Tversky are more responsible than anybody for the powerful trend to mistrust human intuition and defer to algorithms.
Day Two Takes a Toll
Day Two: Separation of Waters
God said: Let there be a dome amid the waters, And let it separate waters from waters!
—Genesis 1:6, Schocken
Michael Lewis’ book, The Big Short, depicts the culture inside the world’s financial markets in the years leading up to the market crash of 2008 and the Great Recession that followed.
Here is a transcript of the comments I made at the Barnes and Noble book signing on Tuesday evening, September 29th, the official release date of “Know the Time, Change Your World”.