Upon hearing the name Abraham Lincoln, many images may come to mind: rail-splitter, country lawyer, young congressman, embattled president, Great Emancipator, assassin’s victim, even the colossal face carved into Mount Rushmore. One aspect of this multidimensional man that probably doesn’t occur to anyone other than avid readers of Lincoln biographies (and Smithsonian) is that of inventor. Yet before he became the 16th president of the United States, Lincoln, who had a long fascination with how things worked, invented a flotation system for lifting riverboats stuck on sandbars.
Though his invention was never manufactured, it serves to give Lincoln yet another honor: he remains the only U.S. president to have a patent in his name. According to Paul Johnston, curator of maritime history at the National Museum of American History (NMAH), Lincoln’s eminence and the historical rarity of his patent make the wooden model he submitted to the Patent Office “one of the half dozen or so most valuable things in our collection.”
Inventive Abe | History & Archaeology | Smithsonian Magazine.
rePost–wronging rights: Should You Go to Law School? Not Unless You Want To Be a Lawyer.
Excellent point of view! People sometimes complicate things too much, this sets them straight because you can just about say this with most career’s , probably except the hard science that are more focused on math.
Should You Go to Law School? Not Unless You Want To Be a Lawyer.
I loved law school, and I am incredibly glad that I decided to go. I am happy with where my career is, and excited about where it appears to be going. In short, my life is good: I am a lucky girl.
wronging rights: Should You Go to Law School? Not Unless You Want To Be a Lawyer..
inspiring story on true wealth–The Razor’s Edge: Lessons in True Wealth ∞ Get Rich Slowly
Great story of personal choice and true wealth!
The razor’s edge
During the summer of 1997, Sparky and I went for a hike. As we walked, we talked. He told me about his plans and his goals. He was living in a small town in northern Washington, working two full-time jobs, a part-time job, and getting free rent in exchange for housesitting with an elderly homeowner. “I’ve only had five or six days off in the past eight months,” he said.
“That seems crazy,” I said. “Why are you working so hard?”
“I want to travel around the world,” he said. “You know that I don’t have a lot of Stuff. There’s a reason for that. Material possessions tie a person down to one place. I can’t travel if I have a house and a car and all of that other Stuff.”
He told me about the trip he had planned. He had a one-way ticket to Thailand. From there, he hoped to travel to India and then Israel, but he didn’t have any sort of agenda. “I’m just going to go,” he said. “I’m going to travel as long as my money holds out.”
The Razor’s Edge: Lessons in True Wealth ∞ Get Rich Slowly.
-The Bayesian Heresy is MTEF: What it takes for a girl to go to school in Afghanistan
just had to pass this on!
here is the link to the nytimes article.
“My parents told me to keep coming to school even if I am killed,” said Shamsia, 17, in a moment after class. Shamsia’s mother, like nearly all of the adult women in the area, is unable to read or write. “The people who did this to me don’t want women to be educated. They want us to be stupid things.”
The Bayesian Heresy is MTEF: What it takes for a girl to go to school in Afghanistan.
Enormous Happiness– All by ourselves alone – Roger Ebert's Journal
This made me remember how i text myself whenever I am truly happy. I haven’t for a while. This made me realize how rare being truly happy is. What I mean is that the peaks, being enormously happy in the words of Roger Ebert, Is not something we have control over.
To complete the thought. It is entirely out of your control to be enormously happy but to be happy is totally within your power. Cherish the rare moments and work for the happiness.
Suddenly I was filled with an enormous happiness, such a feeling as comes only once or twice a year, and focused all my attention inward on the most momentous feeling of joy, on the sense that in this moment everything is in harmony. I sat very still. I was alone at a table in a square where no one I knew was likely to come, in a land where I did not speak the language, in a place where, for the moment, I could not be found. I was like a spirit returned from another world. All the people around me carried on their lives, sold their strawberries and called for their children, and my presence there made not the slightest difference to them. I was invisible. I would leave no track in this square, except for the few francs I would give to the cafe owner, who would throw them in a dish with hundreds of other coins.
All by ourselves alone – Roger Ebert’s Journal.
CSIS Reports – The War in Gaza – Center for Strategic and International Studies
Thanks To ForeignPolicy blog for the pointer here
This raises a question that every Israeli and its supporters now needs to ask. What is the strategic purpose behind the present fighting? After two weeks of combat Olmert, Livni, and Barak have still not said a word that indicates that Israel will gain strategic or grand strategic benefits, or tactical benefits much larger than the gains it made from selectively striking key Hamas facilities early in the war. In fact, their silence raises haunting questions about whether they will repeat the same massive failures made by Israel’s top political leadership during the Israeli-Hezbollah War in 2006. Has Israel somehow blundered into a steadily escalating war without a clear strategic goal or at least one it can credibly achieve? Will Israel end in empowering an enemy in political terms that it defeated in tactical terms? Will Israel’s actions seriously damage the US position in the region, any hope of peace, as well as moderate Arab regimes and voices in the process?
To blunt, the answer so far seems to be yes. To paraphrase a comment about the British government’s management of the British Army in World War I, lions seem to be led by donkeys. If Israel has a credible ceasefire plan that could really secure Gaza, it is not apparent. If Israel has a plan that could credibly destroy and replace Hamas, it is not apparent. If Israel has any plan to help the Gazans and move them back towards peace, it is not apparent. If Israel has any plan to use US or other friendly influence productively, it not apparent.
As we have seen all too clearly from US mistakes, any leader can take a tough stand and claim that tactical gains are a meaningful victory. If this is all that Olmert, Livni, and Barak have for an answer, then they have disgraced themselves and damaged their country and their friends. If there is more, it is time to make such goals public and demonstrate how they can be achieved. The question is not whether the IDF learned the tactical lessons of the fighting in 2006. It is whether Israel’s top political leadership has even minimal competence to lead them.
CSIS Reports – The War in Gaza – Center for Strategic and International Studies .
Tim Harford: Borrow Money to fund Stock Market Investments
Tim Harford, author of ‘The Logic of Life‘ and ‘The Undercover Economist‘, advocates borrowing money to start investing in the stock market.
Here are the chief investment lessons of the financial crisis for today’s young people: they should be buying more shares and running up debts to do so. I’m not saying that the market is undervalued… I am merely suggesting a way of reducing risks.
Arguing that holding stocks in the long term is not guaranteed to be particularly safe, he goes on to describe the effect of “generational risk”:
…stocks can be very volatile. We also know that some generations have been luckier than others when it comes to the performance of the stock market. The baby boomer who started regular purchases of US stocks in 1970 and sold up in 2000 would have felt pretty sick after the awful bear market of 1974, but in retrospect his timing would have been perfect, filling his boots with bargain late 1970s and early 1980s shares, and selling out right at the top. His daughter, entering the stock market in 1995 and aiming to retire in 2025, would have spent the past 13 years buying shares at prices that now seem to range from high to extortionate. We could call this “generational risk”.
Now, think about the current prevailing wisdom on investing in shares, which reflects the fact that shares tend to produce high but risky returns. It is to start by putting most of one’s savings into the stock market, and as retirement approaches, increasingly shifting one’s portfolio to bonds and other less volatile investments. That seems to make sense. In fact, it is nonsense…
…The logical way to fight generational risk is to borrow money to make large, regular investments in shares while young, then use a proportion of later savings to pay back the loan rather than to pile into the stock market in middle age. That sounds risky, but it is in fact exactly what people do in the housing market. Knowing that they will need a place to live all their lives, they tend to buy a small house and gradually trade up to a bigger one, only paying off their mortgages late in life.
Most of us need a retirement fund as well as a place to live; there is nothing intrinsically risky about regular borrowing to get that fund off to an early start.
Not only does the concept make sense, it has paid off in the past. The Yale academics who proposed it, Ian Ayres and Barry Nalebuff, have looked at historical stock market data covering 94 cohorts who retired between 1913 and 2004. For every single cohort, the early leverage strategy beat the conventional wisdom; it also almost always beat the gambler’s strategy of investing every penny in stocks until the moment of retirement. Only the blessed cohorts who retired in 1998 and 1999 did better. Such gambles rarely pay off, so if you’re 20 years old and want to spread your risks, mortgage your retirement today.
It makes sense in a way that I’d rather invest a large position (funded by debt) in stocks while young and ‘throw the key away for 20 years ‘ (like Warren Buffett‘s long-term value investing. This is better than starting with a small position then personally trading up to have a large position in 20 years. Think of the time and energy this will entail! I don’t want my mind usually thinking of the stock market, with all of its ups and downs.
On another thought: Does anyone know how this is possible in the Philippine banking industry? If I can fund stock market purchases via credit card, I MIGHT consider getting a credit card (which I have no plan of getting ever).
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-rePost-Here where I am at Paulo Coelho’s Blog
Got This Great Story From Paulo Coelho’s blog!
The sheate is almost as important as the sword, it allows the samurai to not think about the sword most of the times, like during trying to run from enemies, or jumping etc.
Here where I am
Published by Paulo Coelho on October 3, 2008 in Stories
– That is why the discipline of meditation was worthwhile – concluded the master, when the young man returned to him. – You may have great skill with the instrument you choose for your livelihood, but it us useless, if you cannot command the mind which uses that instrument.
Here where I am at Paulo Coelho’s Blog.
rePost – – Cool -Wild White House meeting sets back deal – David Rogers – Politico.com
Remind me of the West Wing!
Need to get this thing down, I believe looking back the heroes , villains and heroes of this crisis must be remembered, villified and villified.
Wild White House meeting sets back deal
By DAVID ROGERS | 9/25/08 9:58 PM EDT Updated: 9/25/08 9:58 PM EDT
After White House meeting, Dems complain of being “blindsided” by a new conservative alternative.
A high-profile White House meeting on Treasury’s $700 billion Wall Street rescue plan ended on a sour, contentious note Thursday after animated exchanges among lawmakers laced with presidential politics just weeks before the November elections.
“I can’t invent votes,” House Republican Leader John Boehner warned the administration about the lack of support in his conference for the massive government intervention. And House Financial Services Committee Chairman Barney Frank (D-Mass.) angrily accused House Republicans — with the tacit support of Republican presidential candidate John McCain — of crafting an alternative to undercut Treasury Secretary Henry Paulson.
Both McCain and his Democrat rival, Sen. Barack Obama, left without any joint endorsement. A beleaguered President Bush had to struggle to maintain order and reassert himself. And when Democrats left after the meeting to caucus in the Roosevelt Room, Paulson pursued them, begging that they not “blow up” the legislation.
The former Goldman Sachs CEO even went down on one knee as if genuflecting, to which Speaker Nancy Pelosi (D-Cal.) is said to have joked, “I didn’t know you were Catholic.”
The White House meeting had been called at the urging of McCain, but Democrats made sure Obama had a prominent part. And much as they complained later of being blindsided, the whole meeting turned out to be something of an ambush on their part—aimed at McCain and House Republicans.
“Speaking professionally,” said one Republican aide, “They did a very good job.”
When Bush yielded early to Pelosi and Senate Majority Leader Harry Reid (D- Nev.) to speak, they yielded to Obama to speak for the assembled Democrats. And it was Obama who raised the subject of the conservative alternative and pressed Paulson on what he thought of the idea.
Wild White House meeting sets back deal – David Rogers – Politico.com.
rePost-Op-Ed Columnist – Aaron Sorkin Conjures a Meeting of Obama and Bartlet – Op-Ed – NYTimes.com
This quote was a gem:
BARTLET Because the idea of American exceptionalism doesn’t extend to Americans being exceptional. If you excelled academically and are able to casually use 690 SAT words then you might as well have the press shoot video of you giving the finger to the Statue of Liberty while the Dixie Chicks sing the University of the Taliban fight song. The people who want English to be the official language of the United States are uncomfortable with their leaders being fluent in it.
Op-Ed Columnist – Aaron Sorkin Conjures a Meeting of Obama and Bartlet – Op-Ed – NYTimes.com.