Sam Harris makes a great point...

I particularly like this quote: "And just imagine if, instead of the Palins, the Obama family had a pregnant, underage daughter on display at their convention, flanked by her black boyfriend who "intends" to marry her."

http://www.newsweek.com/id/160080/page/2

It is easy to see what many people, women especially, admire about Sarah Palin. Here is a mother of five who can see the bright side of having a child with Down syndrome and still find the time and energy to govern the state of Alaska. But we cannot ignore the fact that Palin's impressive family further testifies to her dogmatic religious beliefs. Many writers have noted the many shades of conservative hypocrisy on view here: when Jamie Lynn Spears gets pregnant, it is considered a symptom of liberal decadence and the breakdown of family values; in the case of one of Palin's daughters, however, teen pregnancy gets reinterpreted as a sign of immaculate, small-town fecundity. And just imagine if, instead of the Palins, the Obama family had a pregnant, underage daughter on display at their convention, flanked by her black boyfriend who "intends" to marry her. Who among conservatives would have resisted the temptation to speak of "the dysfunction in the black community"?

Teen pregnancy is a misfortune, plain and simple. At best, it represents bad luck (both for the mother and for the child); at worst, as in the Palins' case, it is a symptom of religious dogmatism. Governor Palin opposes sex education in schools on religious grounds. She has also fought vigorously for a "parental consent law" in the state of Alaska, seeking full parental dominion over the reproductive decisions of minors. We know, therefore, that Palin believes that she should be the one to decide whether her daughter carries her baby to term. Based on her stated position, we know that she would deny her daughter an abortion even if she had been raped. One can be forgiven for doubting whether Bristol Palin had all the advantages of 21st-century family planning—or, indeed, of the 21st century.

A note from our prime brokerage

The prime broker for our hedge fund, Interactive Brokers, is awesome. Amidst the chaos on Wall Street, it is nice to know I'm doing business with a group that doesn't stink. I especially love the humor of the message. Below is what I received in my email.
September 17, 2008
Dear IB Customer:

In these stressful financial times, we thought it would be helpful to remind you of our conservative risk systems and policies that make Interactive Brokers a safe haven for your money. Below please find a reproduction of an ad that we are running in the Wall Street Journal that summarizes our position.

Conservative
defined

in·ter·ac·tive bro·kers
[in-ter-ak-tiv bro-kərs] – noun
1. No CDOs, Subprime Debt or Credit Default Swaps.
2. $4 Billion in Equity Capital*.
3. 31 Years in the Trading Business.
4. Automated Pre-trade Credit Vetting.
5. Real-time Margin System Automatically Enforces Limits.
Investors concerned about deteriorating credit markets, broker failures, rumors of hedge fund liquidations and counter party credit risk should consider moving their accounts to Interactive Brokers.

For over 30 years, controlling and avoiding risk has been the primary consideration in building our automated dealing and brokerage systems.

Our company's sole focus is on exchange listed products that are cleared through central clearing houses and are marked daily to external closing prices disseminated by the exchanges.

Our proprietary positions and resulting payables and receivables are reconciled against external sources daily. Our real-time margin system prevents the execution of orders for accounts with insufficient margin by continuously enforcing limits for each account, and it automatically liquidates positions if any individual account violates its limits at any time.

A safe haven for investors and institutions, Interactive Brokers is ready to serve.

Options, futures, commodities, stocks, forex, bonds and funds
on over 70 markets worldwide from one account.

www.interactivebrokers.com

For additional information and FAQs, see our Strength and Security page.

We look forward to serving you over the coming years.

Sincerely,

Thomas Peterffy
Interactive Brokers, Chairman & CEO
Interactive Brokers LLC, member NYSE, FINRA, SIPC
*Interactive Brokers LLC and affiliates.

George W. did it?

http://www.memritv.org/clip/en/1846.htm
Indian Muslim Cleric Zakir Naik: 9/11 Was Carried Out by George Bush Himself

In addition, there are polls out there suggesting many around the world believe 9/11 was not carried out by Al Queda

the chaos that came...

The latest news as collected on Drudgereport...

SUNDAY[!]: One of the most dramatic days in Wall Street history... 
LIQUIDATE: Banks, Brokerages Prepare for Possible LEHMAN Bankruptcy...
ON THE BRINK...
BARCLAYS Abandons Talks... 
Feds Balk at putting up taxpayer money...
CEO hubris contributed to meltdown...
BANK OF AMERICA reaches deal to buy MERRILL LYNCH for $44B.... 

...my blog post on March 18, 2008 predicting complete chaos ahead

http://www.welcometotheadventure.com/2008/03/picture-is-worth-1000-words.html

I used to be one of the few bears in the room last year and unfortunately for most (fortunate for me) all the dire predictions came through; however, now that the 'world is falling' and as my friends on Wall Street have suggested, "the greatest depression is coming our way," I've decided that things are looking up...and here's why:

1. We have a new administration coming in...regardless of who it is, change is-a-coming. My sense is this will be the start of the "new beginning" for many of those who have lost it all in the latest chaos. It will be a lot like going into a new semester after bombing the prior semester--you get a clean slate and a new round of motivation. So while there may not be much in regard to actual change, the psychologically refreshing feel of 'starting with a blank piece of paper' will be helpful.

2. It is in the interest of very few 'division 1' countries to see America to to hell in a handbasket--I predict we get some help or some consoling from our worldly friends (send in new capital, forgive loans, relieve pressure on currency, etc.) The division 3 countries in the middle east, north korea, and some of our communist buddies in Europe/Latin America will be happy to see us crash and burn--but their division 3--their football games aren't even televised.

3. We still got one of the best atmospheres for business, education, entrepreneurs, and the "American Dream." If we can turn around things after this 'slap in the face,' and get our capital markets stronger and less prone to 'animal spirits' that drove it insane in the first place--we'll be good to go. If this doesn't cause us to change our ways--we're done for...but I'm optimistic.

My latest prediction: recession will be verified by the end of 2008, last through 2009, and by 2010 we'll slowly emerge stronger, leaner, and ready to tighten our spending habits, roll up our sleeves, set the foundations to crush our masochistic reliance on oil, pay down some debt, rebalance the incentive schemes in the capital markets, and capitalize on some great opportunities to trade with the future's world power--China.

Some pictures on recent activity

Sorry for the short post, but here are some links to pictures from recent outings

Kevin and Natalie Wedding pictures

Eric Earnhardt's return from Iraq/Gabe Ledeen's exodus from the USMC...we threw them a little party

Katie and I jammed the Honda Civic to the gils in preparation for our move to Philly, then on to Chicago.

Both parties have lost it...

Why can't we all just get along and vote for Ron Paul? He is right...Obama and McCain are not much different on many issues.

Captain Gray?

Sadly, I have left the rank of 1stLt and am now officially a captain in the USMC inactive reserve. I always thought it would be cool to retire as a lieutenant, but I guess all good things must come to an end :(

http://www.marines.mil/news/messages/Pages/OFFICERPROMOTIONSFORSEPTEMBER2008ANDPROJECTEDOFFICER.aspx