Reflections on the stock market
The stock market partially recovers today, then drops again:
The Dow Jones Industrial Average dropped 320 points after giving up an earlier surge of 1,460, while the Nasdaq composite lost 2.1%. Uncertainty is still high about what President Donald Trump will do with his trade war. The latest set of tariffs, including a massive 104% levy on Chinese imports, are scheduled to kick in after midnight.
What does it all mean? It means that people are nervous and that change is in the air.
I watched a good podcast discussing tariffs yesterday. Here it is in its entirety, but it’s not necessary to watch the whole thing to get the gist of it:
The other thing I need to say is that my sense of the stock market has always been that it is risky. Even bonds can be risky; my very first experience with investing came when I was 21 years old and my father gifted me with three thousand dollars and told me to buy a New York City bond with it. My father was ordinarily very good with money, but New York almost went bankrupt while I held that bond and there was a lot of stress involved.
Then, as young parents, my then-husband and I lost an enormous percentage of our still-meager holdings in 1987. I wasn’t the one who had decided to invest the money; my husband was. But it never occurred to me to blame him because without his investing our money would never have grown in the first place.
Then, as a newly-divorced person, in 2008 I lost over half my still-not-enormous worth in the 2008 crash. It came back, but it took a long long time and much angst. I had so many other difficult things on my mind back then that I didn’t stress out too much.
Will this be different? Will this be better or worse? I certainly don’t know. But at the moment I’m philosophical.
I Know Why the Caged Bird Sings is in the news again [see UPDATE]
I read about it at Althouse:
I don’t know if Kristol knows what he’s telling us we need to “be,” but he’s upset that “pursuant to Defense Secretary Pete Hegseth’s order to purge so-called DEI content from military libraries and classrooms, I Know Why the Caged Bird Sings was removed, along with 380 other books, from the U.S. Naval Academy’s Nimitz Library.”
Kristol asserts, despite not having read the book, that “‘I Know Why the Caged Bird Sings’ is not ‘DEI content.’ It’s a quintessentially American autobiography—a popular and important one. It’s a book a student at the Academy might want to read for his or her education, or for pleasure.”
Why would the story of a particular individual represent the promotion of the DEI agenda?
Althouse goes on to add that a commenter of hers observed that perhaps this was a case of malicious compliance from some anti-Trump holdover. That’s certainly possible. It’s also possible that in general books that aren’t especially related to naval or military matters are being pulled.
The reason I’m writing about this is twofold, however. The first is that pulling a book from a library or a school isn’t “banning” it or making it so that students can’t or shouldn’t read it, but stories in the MSM about Republicans doing that are common in order to depict them as racist troglodytes. The second is a point about the book itself, which is certainly not a DEI polemic or a polemic of any sort: it’s a coming-of-age story. Because the protagonist, Angelou, was born in 1928 and raised mostly in a small segregated town in Arkansas, of course racism is part of the story. But to me – and I read the book when it first came out in 1969, and even own it – it wasn’t the main part at all.
I was going to write a description of the book here, and then I realized – as often happens – that I’ve passed this way before. Here’s the post I wrote about it in 2014, on the occasion of Angelou’s death. Summary version: it’s a great book. Some people don’t like memoirs, but I happen to like them and this one is excellent, touching, and well-written, and was especially powerful if read when it first came out. It also has the single most compelling and sensitive description of child sexual abuse I’ve ever read. Here’s what I wrote about that in 2014:
The rape that occurs [to the author] later, at the hands of Angelou’s mother’s live-in boyfriend when 8-year-old Maya and her brother have been sent back to St. Louis to live with her, is heartbreakingly rendered. Described from the child’s viewpoint, it somehow manages to depict something that has rarely been conveyed so well: how the child’s starvation for paternal affection can set up the neediness that makes him/her vulnerable, how wily and then how brutal the rapist can be, and how a sensitive child might react. In Angelou’s case, when her uncles took revenge and murdered the rapist, she felt that her talking about the rape had caused his death, and so she decided to stop talking entirely …
Angelou wrote many more memoirs besides Caged, and over the years I’ve read quite a few of them. They’re of interest to anyone interested in Angelou’s life, and they constitute a story of overcoming great odds. But none of them even remotely touches the heights of her first book. I’ve often thought that many writers have one book in them that they must write, are driven to write, and that for Angelou that book was Caged. The rest was commentary.
UPDATE 10 PM:
Apparently Kristol got his facts wrong. See this:
I looked at the list. It is NOT Maya Angelou’s book that is being pulled. It is a collection of “critical essays” about her book. The full title is “I Know Why The Caged Bird Sings – Critical Essays.” edited by Mildred Mickle. It’s was the “edited by…” That clued me in. Because I KNOW that Angelou’s book didn’t credit an editor. That, and the 2010 publication date. I looked it up. It’s academic critical essay crap.
If the idiots at the New York Times would bother to actually look up what was being pulled…
I also suspect a little “malicious compliance” by whomever typed up the list. They were sly about not including the full, correct title of the ACTUAL book. (The only thing Mildred edited about “caged birds” is this collection of essays.)
Open thread 4/8/2025
I’m not quite sure what to say about this:
Tariffs: everybody’s scrambling, and the EU makes an offer
European Commission President Ursula von der Leyen announced that the bloc offered President Donald Trump a deal concerning tariffs on industrial goods.
Von der Leyen said at a press conference (emphasis the LI author’s):
“These tariffs come first and foremost at immense costs for US consumers and businesses. But at the same time, they have a massive impact on the global economy. Developing countries are hit especially hard. This is a major turning point for the United States. Nonetheless, we stand ready to negotiate with the US. Indeed, we have offered zero-for-zero tariffs for industrial goods as we have successfully done with many other trading partners. Because Europe is always ready for a good deal. So we keep it on the table. But we are also prepared to respond through countermeasures and defend our interests. And in addition, we will also protect ourselves against indirect effects through trade diversion. For this purpose, we will set up an ‘Import Surveillance Task Force’. We will work with industry to make sure we have the necessary evidence base for our policy measures. We will stay in very close contact to minimise effects of our actions on each other.”
Also, there’s this:
President Donald Trump threatened China with an additional 50% tariff if the communist country did not drop its 34% retaliatory tariffs.
Trump has also coined a new word: “Panican,” which he defines as “A new party based on Weak and Stupid people.”
Leftists want to murder Trump, according to polls
This news is unsurprising. I noticed the phenomenon among some people I know even in Trump’s first term, and not all of them would even define themselves as leftists. And it’s only gotten worse – plus, as the report describes, Musk is now the recipient of the same sentiment.
Some findings:
Here are some of the troubling numbers, according to the report:
Murder Justification: 31% and 38% of respondents stated it would be at least somewhat justified to murder Elon Musk and President Trump, respectively. (These effects were largely driven by respondents that self-identified as left of center, with 48% and 55% at least somewhat justifying murder for Elon Musk and President Trump, respectively, indicating significantly higher justification for violence against these figures.)
Property Destruction: Nearly 40% of respondents (39.8%) stated it is at least somewhat acceptable (or more) to destroy a Tesla dealership in protest.
Psychological/Ideological Correlations with Assassination Culture: These beliefs are highly correlated with one another, as well as with the justification of the murder of the United Healthcare CEO and hyper-partisan left-wing ideology. (This suggests that support for violence is part of a broader assassination culture, underpinned by psychological and ideological factors.)
Interestingly, the report finds liberal social media platform BlueSky “plays a significant and predictive role in amplifying radical ideation.” BlueSky has seen its new user numbers surge since November’s election, according to the leftist publication The Guardian. Curiously, the “great X-odus” has been driven by liberals “seeking to escape Elon Musk’s X amid warnings from anti-hate speech campaign groups and the EU about misinformation and extremism on the platform,” The Guardian asserts.
In my experience it’s hardly limited to leftists or young people or BlueSky users, and the people I know who have talked of wanting Trump dead don’t really speak much about Mangione. But I know a somewhat different – and generally older – group.
It is of note that they say these things about Trump in front of me although they already know my politics; I think they are just so very in the habit of speaking this way among like-minded people that they temporarily forget I’m not of the same opinion. In a way, that’s the most frightening part of it – that these not-so-leftist and no-longer-young people feel it’s not only socially acceptable but a form of virtue-signaling to talk about having murderous rage towards Trump.
Personally, although I’ve heard people say they hate Musk – people who used to admire him, by the way – I haven’t heard anyone express murderous rage towards him.
And by the way, no one I know is intent on actually killing Trump. The talk is of wanting him killed or at least dead, as a testament to the intensity of the speaker’s hatred towards this Hitlerian figure. And no, not all the Trump-haters I know speak this way. But a significant number do.
The “allow trans women” (that is, biological men) movement in women’s sports has reached its apogee as two biological men compete against each other in the finals of a pool tournament
If you believe that all a person has to do to be a woman is to declare oneself a woman, then it follows as day follow night (or is it night follows day?) that you must support the absurdity of post-pubescent biological men in women’s sports. There’s really no way around that, and therefore many people have chosen that ideology over their support for women’s sports.
My experience with pool being mostly limited to the old movie The Hustler, I never really thought about whether pool is a sport or not. But whatever it is – and I guess it is – men have the upper-body advantage in reach and power.
And so we have this:
Harriet Haynes and Lucy Smith, who were both assigned male at birth, fought for the title at the Ultimate Pool Women’s Pro Series Event 2 in Wigan in the UK this weekend.
Haynes went on to defeat Smith 8-6, but vocal critics on both sides of the Atlantic claimed the real loser in the battle was women’s sport. British former Olympics swimmer Sharron Davies and American former college swimmer Riley Gaines were among those speaking out.
However, others celebrated the achievement and claimed being trans had not given the players any unfair benefits during the game.
Yeah, right. It’s just chance that of all the women on the circuit, two biological men were the finalists:
Opponents of trans players in pool suggest they benefit from various advantages, such as being able to smash their break shot with more speed. While one British pool group, the English Blackball Pool Federation (EBPF), has claimed that trans women benefit from a greater hand span, stronger fingers, and longer limbs enabling a greater reach across the table, according to The Independent.
If you look at the photo of the two finalists here, I think it’s interesting that they resemble each other enough to be siblings.
Open thread 4/7/2025
A personal note: I was a dance extra (“silent bit”) in the movie. I wrote about the experience in this post.
Open threads and the scrolling days
I’ve been doing open threads every day except Sunday for quite some time. I think they’re a nice addition to the blog and people seem to like them and enjoy the open-ended commenting.
But I’ve noticed an unforeseen side effect for me: a focus on the passage of time. It seems to go more quickly than ever anyway, as we get older. But having to put the date down every day highlights it for more. One day it’s the first of the month; a nice clean slate. Then suddenly, two weeks have passed and it’s mid-month. How on earth did that happen? And then, the end of the month comes all too swiftly.
As my ex-husband said the other day, “a year is not very long.”
It reminds me of this song:
Tariffs again
Here’s another post on tariffs, because they’re a big deal right now.
As I’ve said several times, I haven’t decided what I think about them and am willing to adopt a “wait and see” attitude. But in the meantime, they make me very uneasy.
Because it’s a topic of great interest, here’s a link to an article criticizing the tariffs. An excerpt:
President Trump imposed hundreds of billions of dollars in tariffs on the countries of the world, that vary enormously from nation to nation. He calls them “reciprocal” tariffs, but they aren’t reciprocal at all. Trump increased tariffs even on friendly countries that had lower tariffs than we do, which is the very opposite of reciprocity. He imposed 10% tariffs even on countries that we have a trade surplus with, like Australia — which has fewer trade barriers than America does, and has some of the lowest tariffs on Earth.
In all this reading about tariffs and thinking about tariffs I became curious to know what another outside-the-box thinker, Javier Milei of Argentina, thinks of Trump’s tariffs. Here’s what I found:
Speaking at an event at Trump’s Mar-a-Lago residence and resort in Florida, Milei delivered a brief speech as he received an award for his defence of free markets and conservative values.
Declaring he is ready to work side-by-side with the United States and Trump, Milei praised the US president and ruled out retaliatory measures.
“Argentina is going to move forward to readjust the regulations so that we meet the requirements of the reciprocal tariffs proposal developed” by Trump, Milei said, according to remarks briefed by his office. …
“As you can see, we make policies with actions, not mere words, and on that, we agree with President Trump: it is time to act, and we are committed to taking the necessary measures,” he added.
Milei said that he had given instructions to ensure Argentina complies with Washington’s remaining requirements and vowed to “resolve the asymmetries with the United States in a short period of time.”
Milei is an iconoclastic thinker who has done a lot of things in Argentina that had people very worried about the outcome, but the results have been generally good for that country, considering how things stood before he took office. I’m not saying that Milei and Trump are identical – they most definitely are not – but there are certain resonances.
More on Milei at Mar-a-Lago:
“Make Argentina Great Again!” Milei bellowed from the ballroom stage at at Mar-a-Lago late Thursday.
It would have been the fourth face-to-face meeting between the leaders since Mr. Trump’s election victory last November as President Milei, who has imposed a sweeping austerity program to fix Argentina’s long troubled economy, offers himself as one of Mr. Trump’s strongest allies in the global culture war against the “woke” left.
Also, here’s a link to quotes from Bill Ackman on the tariffs. Interesting.
So you can use this thread for more discussion of Trump’s tariffs.
Erdogan had plans for Syria …
… but Israel has apparently thwarted them, at least for now:
Turkey scoped out at least three airbases in Syria where it could deploy forces as part of a planned joint defense pact before Israel hit the sites with airstrikes this week, four people familiar with the matter said. …
The Israeli strikes on the three sites Turkey was assessing, including a heavy barrage on Wednesday night, came despite Ankara’s efforts to reassure Washington that a deeper military presence in Syria was not intended to threaten Israel.
I wouldn’t trust Turkey’s reassurances of much of anything.
It’s always interesting when Israel shows what it is capable of doing in the region. I think it has been clear for a long long time that if Israel was intent on anything resembling genocide it could have accomplished that a long long time ago. The charges of “genocide” are both ridiculous and illogical, but that doesn’t stop “Israel is committing genocide” propaganda from succeeding nor does it stop nations like South Africa or entities like international courts from labeling just about anything Israel does to defend itself as “genocide.”
Meanwhile, the Never-Netanyahus have created a Russiagate-type narrative about Netanyahu that involves Qatar. It’s rather convoluted, but – as with so much of Netanyahu’s enemies’ effort to destroy him – it resembles some of the tactics of those who tried to destroy Trump. I’ve cued up this video for the part where they discuss what they call “Qatar-gate”, including how it resembles many attacks on Trump:
If you want to know how the “Qatar-gate” story is being used, here’s an example:
Merav Svirsky, sister of slain hostage Itay Svirsky, tells some 1,000 anti-government protesters at the Begin Road entrance to the IDF headquarters that it’s “insane and insufferable, and painful to the spirit and soul and body, that I paid the dearest price because of this government of destruction and its head,” Prime Minister Benjamin Netanyahu.
“He’ll do anything to preserve his rule,” she says. “And if that’s not enough, today we also know that ‘diplomatic source’” — reportedly Netanyahu’s pseudonym in press statements from his office — “is sometimes Qatari public relations posing as a diplomatic source,” adds Svirsky, alluding to recent revelations from the criminal investigation of alleged criminal ties between Hamas-backer Qatar and top aides to Netanyahu.
Much of the carnage on October 7 was targeted at Israelis on the left, who already detested Netanyahu. It is natural for many (not all) of the hostage families to blame Netanyahu first and foremost, as though Hamas is barely involved and/or more than willing to have peace and it’s merely Netanyahu and his evil ambitions that stand in the way of the hostages’ freedom. And the anti-Netanyahu forces in the press and in public life play on that already-existent hatred of Netanyahu, fanning the flames.
In other news in Israel, the IDF claims it killed the terrorist involved in the Bibas kidnappings and probably in their murders as well.
Open thread 4/5/2025
The video I chose for today has embedding disabled. It’s about how people used to preserve food before refrigerators. That may not sound all that interesting to you, but I found it quite fascinating. So if you want to watch it, click here.