I can still retire at 100 if I play it right
I guess it just comes down to whether you like the blog or you don't, because if you like the blog, you're going to be reading it -- and hopefully joining in the fun -- for a long, long time now that I can fit my retirement savings into a small gym bag.
The Dow Jones Industrial Average crashed 777 points today, which is the biggest single-day loss in the history of rich guys screwing up. Of course, the rest of us went down with them, so we'll all have a story to tell our grandkids while they're feeding us chicken broth with a spoon. Hopefully, the Orioles will have won something by then.
If that wasn't bad enough, the makeup game between the Chicago White Sox and the Detroit Tigers was delayed several hours by rain, which means that I probably won't have time to go out and eat before the Ravens/Steelers game kicks off. That might not sound like much of a problem to you, but you can probably tell by my full-body picture in the paper that I have to fill my body frequently to remain conscious.
That means a Ravens loss tonight could leave me deflated on so many levels (physically, financially, emotionally) that I'm keeping a bicycle pump handy in the big-screen basement just in case. Never mind that I predicted a 10-point Ravens loss when I was a little more lucid the other day. This has become a personal must-win situation.
Comments
While we are talking of crashing and burning, out here in Colorado the talking heads are saying they expect USC to get to the BCS since they lost so early in the season. What is your opinion?
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Pete's reply: Well, it certainly helped that Georgia and Florida also went down, since those were three of the four teams I thought could go undefeated. Two top-flight teams probably have to go undefeated to keep USC out of the final game, so there's a chance. Of course, I can't rule out them laying another egg like they did against Oregon State. Pete Carroll seems to have gaps in his motivational skills, and they show up at some curious times.
Posted by: Rusty | September 29, 2008 6:31 PM
Payrolls usually take a few years to filter through. Contracts are generally back loaded so teams may go out after a couple of players for a title run in, say 2009, the top end of the salaries may not kick in until a couple of years later. Also teams are more likely to reward players after they win a series so salaries go up after the series is won.
Attendance often works the same way. The year or two AFTER a series is won, attendance is higher than the year they had won a series. People jump on the bandwagon and going to games is the "thing" to do.
Posted by: Rich | September 29, 2008 6:50 PM
Saying it was the biggest is misleading, in 1987 the Dow Jones lost 22.6% of its value, in 1929 it dropped 13% one day and 12% another. This was only a 7% drop, in fact it is not in the top 10 all time percentage declines.
Saying this was the biggest drop is akin to saying a movie had the largest opening ever when tickets cost 3 times as much as when Star Wars came out.
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Pete's reply: It's definitely deceptive, because it was just the largest point drop, but I'm not writing for the economics crowd, so it served my purposes just fine.
Posted by: Jeff V. | September 29, 2008 6:54 PM
Hey Pete.... Papa John's deliver...
Posted by: a fan with delusions of grandeur | September 29, 2008 7:54 PM
Regarding awards, especially the Cy Young award in the NL, I'd reluctantly would have to give it to Sabathia.
I don't like giving awards to someone playing half the season but in 17 starts he is 11-2, 1.65 era, with 128 strikeouts and only 25 walks in 130 innings.
And he AVERAGED over 8 innings per start! He also started 4 games in 13 days down the stretch. That nearly falls into old school baseball.
Posted by: Rich | September 29, 2008 8:27 PM
Regarding awards, especially the Cy Young award in the NL, I'd reluctantly would have to give it to Sabathia.
I don't like giving awards to someone playing half the season but in 17 starts he is 11-2, 1.65 era, with 128 strikeouts and only 25 walks in 130 innings.
And he AVERAGED over 8 innings per start! He also started 4 games in 13 days down the stretch. That nearly falls into old school baseball.
Posted by: Rich | September 29, 2008 8:27 PM
I especially love seeing that BBF "Blowhard Barney Frank" blaming everybody but himself when he and his committee blocked reforms several years ago to straighten out Fannie Mae and Mac. Things are just fine he said.
Posted by: Paul B Towson | September 30, 2008 9:17 AM
Peter, the Gov called with a reprieve today. You'll be able to retire in double-digit land because the DJI was up 485 today.
Thought it was funny that yesterday's net change was 777 - a slot machine #.
I'll be buying put options in your honor.
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Pete's reply: Just as long as you send me my share.
Posted by: dave | September 30, 2008 7:27 PM
Wow, that's so encouraging, being fed chicken broth with a spoon. I always assumed it would be with a straw and an air compressor.
"OK class, it's lunch time, let's flip him onto his tum and shoot 'im up."
Posted by: jl | September 30, 2008 9:51 PM
Publicans will mess it up ..... again...if they win the WH.....economics and publicans do not mix....so, do you want a war or a solid economy?
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Pete's reply: When did we start electioneering? I'm not feeling great about the economic savvy or either party right now.
Posted by: jon germany | September 30, 2008 11:22 PM