The One 9/11 Documentary You Should Watch Today – The Falling Man


Every year since 9/11, on the anniversary of that tragic day, I take a little over an hour of my time and watch the documentary “9/11: The Falling Man.”

This is a non-politicized, non-wacky nut theory movie about the search for the identity of one lone victim of 9/11 who threw himself out of the towers, and was photographed as he fell to death.

As time goes on, though we remember the horror of that day, the emotional impact tends to lessen, which in my opinion is not a good thing.

Watching this poignant movie brings back to me how “real” that day was, and never lets me forget how it changed our country forever.

Watch “9/11: The Falling Man (via You Tube)

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The Solution To Spain’s Problem – EuroVegas

Somewhat quietly last week the news came out that Spain is set to give up it’s rank of the 12th biggest economy in the world to Australia.  From Bloomberg….

Australia’s $1.379 trillion economy will probably supplant Spain’s $1.386 trillion GDP this quarter, data compiled by Bloomberg from the national statistics agencies of both countries show. TheInternational Monetary Fund projected in January that Australia’s economy would be $3 billion smaller than Spain’s by the end of this year.

“This is a nice microcosm of the structural shifts in the global economy away from the old developed core to the emerging and peripheral part of the global economy, in Asia particularly,” said Richard Yetsenga, head of global markets research at Australia & New Zealand Banking Group Ltd. (ANZ)

And in my opinion it’s about damn time.  Not only is Australia about to kick Spain’s ass economically, but in a side by side comparison it wins on so many other important metrics.

Australia Spain
Climate X
Beer X
Female Hotness X
Food X
Lack of guys named “Quixote” X

What’s even worse is that the Spanish don’t have the common decency to speak ENGLISH….!!! (Steve Martin reference).

And a closer look at the actual numbers couldn’t show a starker contrast in economic health between the two counties.

Australia’s economy expanded 3.7% over the latest quarter in year over year comparisons, making it twenty-one consecutive years without a recession and unemployment is steady at 5%.

Meanwhile Spain struggles to keep itself going into a “Greece-style” default spiral, and has record unemployment of almost 25%.

So what do you do when you country is in peril to save it from an economic meltdown?

Gamble, baby, gamble….!!!

The Las Vegas Sands ($LVS) has chosen Madrid as the location of its massive super-casino project and the only real question is, are they providing Astroglide with their terms or will Spain have to take it “dry?”  Because basically when you get to such a bad economic state that you look to gambling as your savior, well, let’s just say you are not going to be able to negotiate from a position of strength.

I mean Sheldon Adelson isn’t even sugar-coating his terms.  Via The Washington Post….

Adelson has also said he wants Spanish laws changed to let gamblers smoke inside the casinos and new zoning regulations allowing him to send buildings soaring above the skyline.

Well at least he didn’t ask the Spanish Prime Minister greet customers at the entrance of the casino dressed as a matador.

Short-sightedness on Spain’s part will only go to fatten the wallet of the Sands, but I do think it would be cool to see customer yelling for “duro diez” and “roja flaco” on the craps table and trying to pick up  ”las mujeras trabajando” at the “Hemingway Bar” at 3:00am.

Spain Set to Surrender Rank of 12th-Biggest Economy to Australia (via Bloomberg)

Las Vegas Sands Picks Madrid over Barcelona for big Spain casino. (via The Washington Post)

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Why Mitt Romney May Be The Next Ronald Reagan

In the first episode of Jerry Seinfeld’s brilliant new show “Comedians In Cars Getting Coffee” Larry David laments about how switching from coffee to tea may have caused his divorce, explaining that his then wife became upset when hearing the news, complaining that they “couldn’t even talk over a cup of coffee anymore.”

David doesn’t understand her point, telling Seinfeld “Look [pointing at his tea], I’ve got it in a cup, you don’t know what it is.  So if this is tea rather than coffee, a person should find that so disturbing?”  The conversation continues….

Seinfeld: I’m sorry that you’re not going to like what I have to say, but I’m afraid your wife has a bit of a point.

David: Really?

Seinfeld: Yes!

David: There’s a point…? Look, I can talk just as well holding this cup [moving it up to his lips] as if there was coffee in it.  What’s the difference?

Seinfeld: You want to know the difference?

David: Yeah, I do.

Seinfeld: We got to an ice cream shop….  I get a cone, and you get a salad.  That’s the difference.  And you go “What?  I’m eating, you’re eating.”  It’s the mood.

Seinfeld goes on to explain that nobody know what creates mood.  Mood is just a thing that is there.  The only reason we know it’s there is because we feel it.  It can’t be quantified.

If you were around and old enough to remember 1980 (I was), then you know that the “mood” in America back then was terrible.

Mortgage rates were at 20%, gas prices adjusted for inflation were near all-time highs, unemployment was at historically record highs, and we were in a recession.

But worse than that, as Americans we felt pretty bad about ourselves.

The Soviet Union had built up its military as ours had declined and had used that power to spread its influence across the globe.  Cuba, Vietnam, Nicaragua, Eastern Europe, and numerous African countries were still in the midst of Stalinism.  And even worse than that, their “enhanced” athletes were kicking our butts in most international sporting competitions.

The ultimate humiliation of course was the taking of our embassy in Iran and the nightly parading of US hostages on the evening news.

To put it plainly, the mood in America was “shit.”

As individuals we know how hard it can be to get anything good going when we are in a bad mood, and the same dynamics apply for a country.

Then two things happened that almost overnight changed the mood.  The US Olympic Hockey Team beat the USSR and then won the gold and Ronald Reagan became our 40th President.


                                The final minute of the “Miracle on Ice”

I know that sitting here over 30 years later it is hard to understand, and sounds douchily cliché’ even to me when I say it, but it really was like the clouds parting after a long storm and the sun shinning through.

No matter what you may think about Reagan, the fact of the matter is he stepped up and said in no uncertain terms, in a time in which it was very unpopular to do so, that America was greatest country in the world.  That there were no limits to what we could do if we worked together.  And that he was ready to lead the country back to its former glory.

It may have seemed like rhetoric to some, but Reagan believed every word of it down to his core.  And though you may say the approach was jingoistic and nationalistic, there is no way you can argue that it didn’t work.

At the end of the day, in real terms, the things a President can do to affect the well-being of a country are limited.  Congress and macro forces, both social and economic, have far more impact than the policies of a President.  The President’s job is to be our titular leader, and for lack of a better word, be our country’s head “cheerleader.”  But in order for that to work, people have to believe in you.

They believe in you based upon your sincerity and your gravitas which is defined as “substance, weightiness, seriousness, solemnity, or importance.”

Like mood, it’s something you can’t quantify.  Some have it and some don’t.

George Bush Sr. had arguably the deepest resume’ of any President since Johnson when he took office, but he had no gravitas.  Bill Clinton who had only been the Governor of Arkansas did.

President Obama gave us the “hope and change” rhetoric when he took office, but he has shown that he doesn’t have the gravitas to back it up nor to make people really believe in him as a leader.

Mitt Romney may not be the ideal candidate for either the left or the right, but he has gravitas.  He is a serious man, who has accomplished serious things, and is a born leader. He is the type of President who like Reagan can command respect, engender loyalty, and change the mood of the populace so that we can get back to being the greatest country on earth.

Larry David on “Comedians In Cars Getting Coffee” via comediansincarsgettingcoffee.com

Why Mitt Romney Will Be The Next President (…And It’s Not Why You Think) via bclund.com

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Occupy Chalk Street

I know it may be hard to believe that the once mighty, uninformed, narcissistic, smelly, and unorganized movement that was Occupy Wall Street has fallen.  But the fact of the matter is, OWS has succumbed to the organizational form of Alzheimer’s.

On the surface the participants look the same, and can regale you with triumphs of the past, but ask them what they are doing today, and you get that sheepishly embarrassed look of a poor soul who can’t remember their own name.

Their sorry state was on display recently when remnants of the West Coast crusade showed up at Art Walk LA.  From the Los Angeles Times;

About a dozen activists from Occupy L.A. turned out too, scrawling slogans on the sidewalk to call attention to their campaign to pressure a downtown business group to scale back development that they say would limit options for low-income residents.

“We didn’t consider it a protest,” said Occupy L.A.’s Cheryl Aichele. “We were just passing out fliers and offering chalk to visitors,” she said. 

Now granted, I have been an outspoken critic of the movement ( see “R.I.P. Occupy Wall Street – What You Didn’t Learn From The Vietnam War” and “So You Want To Reform Wall Street? Okay, First Let’s Talk About The Real One Percenters”), but at first even I felt a bit sorry for these diehard revolutionairies.

Chalk….?  Really, that’s all you got left?  For months on end you had the full focus of every media outlet and politician in the country, if the not world, and now you are relegated to disrupting community events to draw chalk slogans on the street?

I mean have some self-respect and dignity and just join PETA or the ACLU for Christ sakes.

To illustrate how really “over” OWS actually is, read another except from the LA Times;

Patti Berman, a longtime downtown resident and ArtWalk board member, said the activists are on a mission to “de-gentrify” downtown.

“I’m a liberal, I don’t like talking like this,” she said. “But these people have no goals, they just seem to want to cause trouble…. The fact that they wanted to destroy ArtWalk, that’s very hurtful. ArtWalk has done a lot for my neighborhood, and I don’t know what’s going to happen now. I don’t know where it’s going to go.”

Brady Westwater, a longtime downtown resident and activist, was more blunt about Occupy. “It’s a dead movement — it saw its day in the sun — and now they can’t do anything but try and find the place to cause the most disruption at a real community event. Downtown is a real community.”

Rarely in my life have I seen such a great opportunity squandered as was done with the OWS movement; but a blind man without a cane could have seen it coming.

Youth, and protest, and activity gets people’s attention, but real world plans for change and the experience to execute on those plans is what makes them stick around.  Perhaps a lesson our current Commander In Chief will have time to reflect on four months from now.

Chalk protests at downtown L.A.’s ArtWalk draw a defiant new line via The Los Angeles Times.

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The Thing That I Fear Most

As I write this post I am traveling six hundred miles per hour, thirty-five thousand feet in the air.  And I am afraid.

The fact that I am in first class takes the edge off some as it is hard to reconcile the antiseptic luxury around me with a fiery ball of twisted wreckage strewn about a corn field. The Heineken and scotch help as well but only in a “Novocaine” type of way; a local numbness that doesn’t take my mind off the overall “procedure” that is going on.

It’s not worry that fills my mind.  Worry is wondering if you can pay all your bills this month. It’s questioning if your wife still loves you.  It’s hoping that the guy you went out with last night will call you.  Worry is to fear what pleasure is to happiness, a superficial and transitory state. What I am talking about is primal and pathological.

In the seminal book “1984″ by George Orwell, a key scene takes place where the protagonist Winston Smith is sent to Room 101 for his final interrogation.  Room 101 is designed as a place where one is confronted with their worst fear, which is designed to break them mentally and fully coerce them into blinding acceptance and loyalty to the State.

There is no “Big Brother” looming over me at present, but I’m in my own personal Room 101.

Fear is a part of the human condition, ebbing and flowing as we go through life, following an inverse bell curve type of pattern.

Fear first visits us when we are young and vulnerable.  Irrational fears of things like ghosts or that we might be adopted.  Sometimes that fear is about potential loss.

I often remember when I was very young, waking up in the dark of the night with a fear of losing my parents.  I would get out of bed, sneak down the hallway, and wait at their door, not returning to bed until I heard the oddly reassuring sound of my father snoring.

Fear takes a holiday as we get older and the zeal of adolescence courses through our veins. Childhood fears give way to a feeling of indestructibility and a sense of life-line that’s infinite. We fear nothing.  I feared nothing.

Only when we have broadened and built up our lives up, both with things and with people, do we start to revisit the idea of fear.  That’s when fear crept back into my life.

In-flight fear medicine.

I’m a overdramatic dick right? What do I have to fear?  I’m not sitting in a foxhole in Afghanistan.  I’m not some poor kid waiting to see if his abusive dad is coming home drunk tonight.  I’m not sitting in the waiting room of a hospital wondering if my results are going to come back “negative.”  What right do I have to be afraid?

But that’s the nature of fear.  It doesn’t make sense.  It’s the innocuous event that takes you to an irrational result.  The sharp twinge in your chest that turns out to be heartburn.  The midnight phone call that’s only a wrong number.  The ambulance you’re driving behind that turns down your street but passes your house.

As I write this post in the jet stream of a coast-to-coast red-eye, I am fully embracing the irrational: trying to cathartically outwit fate, hoping that somebody actually losing their life in a plane crash while writing about losing their life in a plane crash is too ironic even for the grim reaper to stomach.

But it’s not flying that I fear.  For the vast majority of my life I have flown without a second thought to my safety.  Nor is it death that I fear for myself personally.  Nobody wants to die, but I am of the pragmatic mindset that if I die, well, I won’t be around to worry about it anyway.

What I fear about death is leaving my two children at such a young age behind without me.  I specifically fear a “sudden” death.  A death that prevents a last loving and concentrated period of life lessons and memories to sustain them through their lives.

I spent the day I left with my children.  To them it was just a normal day with their daddy, but to me it was a possible last chance to see their sweet faces.  To hear the laughter in their voices.  To hold them tight.  To give them a kiss on the cheek at night as they dreamt.

I wondered what they would remember of me if I did not come back.  Would they think I left them?  Would they think that they did something wrong?  Had I shown them both through words and action just how important they were in my life?  Would they think back on me at graduations, and weddings, and births yet to come as somebody who gave them a foundation from which they thrived, or as a hazy figure like some distant relative whose name they could never remember?

I sat with them both at breakfast that day and we talked.  About princesses, pokemon, and the cat that was playing outside.  We went to the park and chased a squirrel and had a contest on the swings to see who could go higher.  We ate pizza for lunch and I made a point of having their slices cut into thirds so they would be “size appropriate” for them.  I let them both have ice cream, a double scoop in fact.

And at night before they went to bed I laid down beside them, looked in their eyes, and told them how special they were to me, and that I loved them with all my heart.

If I did not return I wondered what their lasting impression of me would be.  I was playing memory roulette and trying to rig the game.

Desperately trying to create memories.

You never know what memory will stand out for you of a lost loved one.  At twenty years old when my father died, I had the advantage my three and six year old would not.  I had decades of memories to draw from, and an adult mind with which to remember them.  Yet with all my advantages, the memory that sticks out for me most is one of the last, and one of the least likely.

As the tumor in my father’s head progressed, it slowly cut off his ability to speak, until he spoke no more.  He was still there and lucid, but the mechanisms that made speech no longer functioned.  It had been a month since he last talked, and I knew I had heard my father’s voice for the last time.

I would sit with him by his bed at home during the day while my mother was at work.  We would watch TV, or listen to the radio, or I would read to him.  Some times I just sat there and held his hand.

One day we were watching the Phil Donahue show, at the end of which they would roll a sixty-second promo of sponsors.  One of the spots went, “Guests of the Donahue show stay at the Drake hotel when in Chicago”……

To which my father turned to me and said out of the blue, “I stayed at that hotel once when I was in Chicago.”  Those were the last words he spoke and he died less than two months later.  That is what I remember.

If you are reading this post now, then you know I am alive.  I will have made it home to my children who only know that daddy had to “work a little extra,” and that he squeezed them a little bit harder and a little bit longer when he got home.

I don’t live my life in fear.  I am grateful for all I have and thank my lucky stars for it every God damn day.  But moments like now, when the fear takes hold remind me that I have to build memories for my children every day.

Each day that I leave them with a feeling of joy, and safety, and love, and support, and family, and self-worth, and confidence, and a belief in themselves, I get closer to killing that fear in me.  To leaving it slaughtered, dead by the side of the road like an unholy demon.

Every day that I survive and give something good and decent of myself to my children, they have more of me to carry with them when I eventually do leave this existence behind.

But for now at least I am home.  I am home.  I am home.

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Paul Tudor Jones Risks His Sex Life For Romney

It’s looking more and more like “Hope and Change” is a platform that will only get your so far with the electorate.  However, the stunning fall in popularity of President Obama is even more shocking given the weakness of the candidate he will in all likelihood lose to in November.

One of the most ominous signs to me that Obama will be “one and done”  is that the “smart money” has not only lined up behind that candidate, but is willing to risk sleeping the couch by doing so.

From Politico:

The race between President Obama and Mitt Romney is pitting one wealthy couple against each other.

Hedge fund magnate Paul Tudor Jones was an early Obama supporter and fundraiser in 2007 — but defected to Romney this cycle. Jones gave $200,000 to the super PAC backing Romney in December.

His wife Sonia Tudor Jones, however, is apparently still committed to Obama. She was spotted Thursday at an exclusive $40,000-per-person fundraiser with Obama at actress Sarah Jessica Parker’s New York City home.

If Tudor Jones was just making a political call here it would be bad enough for the President as he is known for hedging his political bets early and then cutting losers when he thinks the outcome is clear.

But for him to risk being “cut off” by Mrs. Tudor Jones, well, he must feel that Romney is a lock.

Obama-Romney matchup pits husband vs. wife via Politico

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Who Loaned Greece Money

Greece borrowed some money.  A lot of money.


To get a full rundown on all the bagholders, check out this cool Infographic via Demonocracy.

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A Poem For A Trader

Oh trader of the South you are so “Magical.”  You’re buys are never higher than the low tick, nor your sells less than the top….

Time and logic are no match for you, as you buy and sell in dimensions mere mortal traders long to access, silly fools that they are…

Like the angels, the “right” side of the trade you always find, slaying the demons of draw downs like the paper phantoms they are…

Though those who can’t be “fixed” vex you at every turn, you sail on to a golden river of profits, “resting” on your studious throne…

Many have beached themselves on the jagged rocks of trading, but you peel away the mysteries of the markets for your minions…..

From the tip of Alaska to the end of the keys, I do believe a soul as true and honest as yours nay shall be found…

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Why Gold Will Eventually Go To Zero

On Monday I was fortunate enough to appear on the “Business for Breakfast” radio show.  It was there that I repeated my long held and controversial prediction that gold will eventually become worthless.

Of course this is an ultra-macro call that won’t be proven or disproven until long after I am dead and buried, which coincidentally makes it the perfect type of call for the morning business shows.

Please keep in mind this was from Monday when you hear price and market action references.

(click image to start audio)

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10 Trading Terms That Sound Like Sex Acts

In no particular order….

  • Blowoff Top
  • Bottom Bounce
  • Shorting Against The Box
  • The Piledriver (Ooops, sorry.  Actual sex act)
  • Inverse Hammer
  • Kissing The Trendline
  • Rolling A Position Forward
  • Getting “Cramered”
  • Churning
  • Spread Trading

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What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in).