a99kitten's Musings

I blog about a WHOLE LOT of stuff :)

From the Berkshire Hathaway Annual Meeting. Being live blogged by the WSJ: http://blogs.wsj.com/deals/2011/04/30/live-blog-the-berkshire-hathaway-annual-meeting/#

“Gold bugs, don’t read this:

Buffett harps on and on about gold. He says it has no utility, and about how silly people are who are getting in now — when gold prices are near nominal highs. “There’s no question that rising prices…can start affecting behavior,” Buffett said. “People like to get in on things that are rising in prices. Over time, it has not been the way to get rich.”

He’s listing all the things he’d rather have than all the gold in the world, because all you can do with gold is admire it or, as he says, “fondle it.”

Munger repeats what he’s said previously that gold investors are preying on fears. Gold is considered a safe haven investment, because investors tend to flock to buying gold assets when they’re freaked out about the health of other assets and the economy.”

Umm…duh! :) I love you Warren but I want my gold and silver exactly so that I can fondle it on demand! And keep the value safely in a lock box and not a company’s balance sheet. It’s called a hedge for a reason. Also I want to do this someday:

Another hero :)

But yes, it is at an all-time high (well, not if adjusted for inflation – we are still way off of that number which is something to keep in mind) so it does seem silly to jump in with 2 feet now. Except that financial experts and the media have been saying that since gold hit $1000 (2009.) So who knows. It’s called speculation for a reason. And I happily did not sell any after all the “experts” said it will go down from here last summer (when it hit $1250.) It’s now over the big $1500 mark. Plus I do think that China especially is playing a huge role in its run up so it’s not just a bunch of crazed gold bugs stocking their underground bunkers with gold coins, guns and MREs (not that there’s anything wrong with that.) Between China and India, you have a lot of new money going into the purchase of it. And both cultures value it highly. So it’s not quite the same market conditions as when it went crazy in the late 70s only to crash (ish).

And yes, most of the ads for it are definitley aimed at cashing in on people’s fears. Kinda like the earthquake & flood insurers advertising after a disaster (cough *Geico*) or oil traders after some backwards Middle Eastern country has an uprising. Or flu shot ads at the drugstore right before flu season. As long as investors (buyers) understand that, it’s not a bad thing. And if they don’t understand it, they should keep their money safely in a barely-interest paying CD.

So Mr. Buffett, I love you and trust you. But I will happily disagree with you on this. I believe you don’t like technology companies much either (you and Bill must argue about that one!) So that’s why you are ONE of my investments but not all.

But please…stay alive for 50 more years. We do need you!!!

This op-ed is an example of why this issue is not a simple one. This was in today’s Wall Street Journal 8/3/09.

http://online.wsj.com/article/SB10001424052970204619004574322084279548434.html

Gay Marriage, Democracy, and the Courts

The culture war will never end if judges invalidate the choices of voters.

We are in the midst of a showdown over the legal definition of marriage. Though some state courts have interfered, the battle is mainly being fought in referenda around the country, where “same-sex marriage” has uniformly been rejected, and in legislatures, where some states have adopted it. It’s a raucous battle, but democracy is working.

Now the fight may head to the U.S. Supreme Court. Following California’s Proposition 8, which restored the historic definition of marriage in that state as the union of husband and wife, a federal lawsuit has been filed to invalidate traditional marriage laws.

It would be disastrous for the justices to do so. They would repeat the error in Roe v. Wade: namely, trying to remove a morally charged policy issue from the forums of democratic deliberation and resolve it according to their personal lights.

Even many supporters of legal abortion now consider Roe a mistake. Lacking any basis in the text, logic or original understanding of the Constitution, the decision became a symbol of the judicial usurpation of authority vested in the people and their representatives. It sent the message that judges need not be impartial umpires—as both John Roberts and Sonia Sotomayor say they should be—but that judges can impose their policy preferences under the pretext of enforcing constitutional guarantees.

By short-circuiting the democratic process, Roe inflamed the culture war that has divided our nation and polarized our politics. Abortion, which the Court purported to settle in 1973, remains the most unsettled issue in American politics—and the most unsettling. Another Roe would deepen the culture war and prolong it indefinitely.

Some insist that the Supreme Court must invalidate traditional marriage laws because “rights” are at stake. But as in Roe, they are forced to peddle a strained and contentious reading of the Constitution—one whose dubiousness would undermine any ruling’s legitimacy.

Lawyers challenging traditional marriage laws liken their cause to Loving v. Virginia (which invalidated laws against interracial marriages), insinuating that conjugal-marriage supporters are bigots. This is ludicrous and offensive, and no one should hesitate to say so.

The definition of marriage was not at stake in Loving. Everyone agreed that interracial marriages were marriages. Racists just wanted to ban them as part of the evil regime of white supremacy that the equal protection clause was designed to destroy.

Opponents of racist laws in Loving did not question the idea, deeply embodied in our law and its shaping philosophical tradition, of marriage as a union that takes its distinctive character from being founded, unlike other friendships, on bodily unity of the kind that sometimes generates new life. This unity is why marriage, in our legal tradition, is consummated only by acts that are generative in kind. Such acts unite husband and wife at the most fundamental level and thus legally consummate marriage whether or not they are generative in effect, and even when conception is not sought.

Of course, marital intercourse often does produce babies, and marriage is the form of relationship that is uniquely apt for childrearing (which is why, unlike baptisms and bar mitzvahs, it is a matter of vital public concern). But as a comprehensive sharing of life—an emotional and biological union—marriage has value in itself and not merely as a means to procreation. This explains why our law has historically permitted annulment of marriage for non-consummation, but not for infertility; and why acts of sodomy, even between legally wed spouses, have never been recognized as consummating marriages.

Only this understanding makes sense of all the norms—annulability for non-consummation, the pledge of permanence, monogamy, sexual exclusivity—that shape marriage as we know it and that our law reflects. And only this view can explain why the state should regulate marriage (as opposed to ordinary friendships) at all—to make it more likely that, wherever possible, children are reared in the context of the bond between the parents whose sexual union gave them life.

If marriage is redefined, its connection to organic bodily union—and thus to procreation—will be undermined. It will increasingly be understood as an emotional union for the sake of adult satisfaction that is served by mutually agreeable sexual play. But there is no reason that primarily emotional unions like friendships should be permanent, exclusive, limited to two, or legally regulated at all. Thus, there will remain no principled basis for upholding marital norms like monogamy.

A veneer of sentiment may prevent these norms from collapsing—but only temporarily. The marriage culture, already wounded by widespread divorce, nonmarital cohabitation and out-of-wedlock childbearing will fare no better than it has in those European societies that were in the vanguard of sexual “enlightenment.” And the primary victims of a weakened marriage culture are always children and those in the poorest, most vulnerable sectors of society.

Candid and clear-thinking advocates of redefining marriage recognize that doing so entails abandoning norms such as monogamy. In a 2006 statement entitled “Beyond Same-Sex Marriage,” over 300 lesbian, gay, and allied activists, educators, lawyers, and community organizers—including Gloria Steinem, Barbara Ehrenreich, and prominent Yale, Columbia and Georgetown professors—call for legally recognizing multiple sex partner (“polyamorous”) relationships. Their logic is unassailable once the historic definition of marriage is overthrown.

Is this a red herring? This week’s Newsweek reports more than 500,000 polyamorous households in the U.S.

So, before judging whether traditional marriage laws should be junked, we must decide what marriage is. It is this crucial and logically prior question that some want to shuffle off stage.

Because marriage has already been deeply wounded, some say that redefining it will do no additional harm. I disagree. We should strengthen, not redefine, marriage. But whatever one’s view, surely it is the people, not the courts, who should debate and decide. For reasons of both principle and prudence, the issue should be settled by democratic means, not by what Justice Byron White, in his dissent in Roe, called an “act of raw judicial power.”

Author:

Mr. George is professor of Jurisprudence at Princeton University and founder of the American Principles Project (www.americanprinciplesproject.org).Robert P. George, J.D., D.Phil. is one of America’s foremost scholars in the fields of constitutional law, ethics, and political philosophy.

Dr. George has won numerous awards for his academic and civic work, including the Presidential Citizens Medal.

He has served on the President’s Council on Bioethics and as a presidential appointee to the United States Commission on Civil Rights. He is a former Judicial Fellow at the Supreme Court of the United States, where he received the Justice Tom C. Clark Award.

Robert P. George, J.D., D.Phil. is one of America’s foremost scholars in the fields of constitutional law, ethics, and political philosophy.

Dr. George has won numerous awards for his academic and civic work, including the Presidential Citizens Medal.

He has served on the President’s Council on Bioethics and as a presidential appointee to the United States Commission on Civil Rights. He is a former Judicial Fellow at the Supreme Court of the United States, where he received the Justice Tom C. Clark Award.