Weekly Musings © – “Snow Day”
It’s a cold sunny day in early December. The students remind me of quantum particles or theoretical strings vibrating too quickly and in too many directions. Soon St. Nicholas will be here and the school will release these energized particles on their overworked parents. But, still there are 6 days left before the break, and so there is one dream that remains to be fulfilled before the great prison break; a snow day.
For eleven years I worked in industry before moving to academia and during that time of aggressive goals, bonus checks, and potential layoffs the one great hole in my work life was the small chance of a free day due to semi-solid water, captured in fractal elegance, dancing from the heavens; snow.
Tomorrow is the first snow day of the year. And while I will be busy pulling out my remaining hair while working on a Linear Algebra take-home final, there will still be hot chocolate, a warm gray sweater (yes, with the leather elbow patches), and hopefully a chance to stand with my beautiful wife and watch our daughter sled down the little hill (all by her big self).
Thursday, December 08, 2005
Monday, March 28, 2005
A Circle Forming
Weekly Musings© – “A Circle Forming”
J Sweeney
3/28/05
“Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capitol, and deserves much the higher consideration.”
– Abraham Lincoln
“Their Authority is only the Esteem of the People, and ceases the Moment that Esteem is lost…here we see the natural Origin of all Power and Authority among a free People”
. – Lt. Governor Cadwallader Colden of New York in 17127, speaking about the Five Nations
There is a veil lifting, a fog dissipating and what shines forth from behind the shroud of ignorance is the truth that we are not the apex of history, that we are not the natural conclusion of all cultures, civilizations, and peoples before us. Indeed we slowly recognize that we are children of a thousand choices and those choices were not predestined, fated, or obvious. They were frequently agonized over but far too often surrendered to those with the means to endure a fight, the prize of which we knew not the value.
Do you feel empowered? Do you feel represented?
Asked another way, if this society of ours had a great circle around the fire where the braves sat and discussed the choices of the tribe, would you be seated among them?
Do you have a voice that is heard?
It has been several weeks now since my letter to Senator Santorum. His office responded with a form letter detailing the White House administration’s position. I have no doubt he will never read my letter or respond thoughtfully. And why should?
In 2004 my candidate of choice was committed to balancing the budget, preserving social security as the safety net of the elderly in our society, improving education, returning strength to the working class, decreasing abortions, and promoting a foreign policy that focused on the United States of America as good neighbor and servant to other nations.
Of course my candidate didn’t exist.
Did yours?
Did you vote for someone that you felt had studied the issues and understood the long-term implications to our people? Did you vote for someone with wisdom?
Did you vote for someone that appreciated the impact of health care costs on the middle class or did you vote for a millionaire son of a millionaire?
Did you vote for someone that chose to tax labor more than investment income?
Once again we had the choice of no choice. The circle around the fire only has so many seats in a two-party system, only so many voices. Perhaps it is time that we demanded more…
J Sweeney
3/28/05
“Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capitol, and deserves much the higher consideration.”
– Abraham Lincoln
“Their Authority is only the Esteem of the People, and ceases the Moment that Esteem is lost…here we see the natural Origin of all Power and Authority among a free People”
. – Lt. Governor Cadwallader Colden of New York in 17127, speaking about the Five Nations
There is a veil lifting, a fog dissipating and what shines forth from behind the shroud of ignorance is the truth that we are not the apex of history, that we are not the natural conclusion of all cultures, civilizations, and peoples before us. Indeed we slowly recognize that we are children of a thousand choices and those choices were not predestined, fated, or obvious. They were frequently agonized over but far too often surrendered to those with the means to endure a fight, the prize of which we knew not the value.
Do you feel empowered? Do you feel represented?
Asked another way, if this society of ours had a great circle around the fire where the braves sat and discussed the choices of the tribe, would you be seated among them?
Do you have a voice that is heard?
It has been several weeks now since my letter to Senator Santorum. His office responded with a form letter detailing the White House administration’s position. I have no doubt he will never read my letter or respond thoughtfully. And why should?
In 2004 my candidate of choice was committed to balancing the budget, preserving social security as the safety net of the elderly in our society, improving education, returning strength to the working class, decreasing abortions, and promoting a foreign policy that focused on the United States of America as good neighbor and servant to other nations.
Of course my candidate didn’t exist.
Did yours?
Did you vote for someone that you felt had studied the issues and understood the long-term implications to our people? Did you vote for someone with wisdom?
Did you vote for someone that appreciated the impact of health care costs on the middle class or did you vote for a millionaire son of a millionaire?
Did you vote for someone that chose to tax labor more than investment income?
Once again we had the choice of no choice. The circle around the fire only has so many seats in a two-party system, only so many voices. Perhaps it is time that we demanded more…
A Circle Forming
Weekly Musings© – “A Circle Forming”
J Sweeney
3/28/05
“Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capitol, and deserves much the higher consideration.”
– Abraham Lincoln
“Their Authority is only the Esteem of the People, and ceases the Moment that Esteem is lost…here we see the natural Origin of all Power and Authority among a free People”
. – Lt. Governor Cadwallader Colden of New York in 17127, speaking about the Five Nations
There is a veil lifting, a fog dissipating and what shines forth from behind the shroud of ignorance is the truth that we are not the apex of history, that we are not the natural conclusion of all cultures, civilizations, and peoples before us. Indeed we slowly recognize that we are children of a thousand choices and those choices were not predestined, fated, or obvious. They were frequently agonized over but far too often surrendered to those with the means to endure a fight, the prize of which we knew not the value.
Do you feel empowered? Do you feel represented?
Asked another way, if this society of ours had a great circle around the fire where the braves sat and discussed the choices of the tribe, would you be seated among them?
Do you have a voice that is heard?
It has been several weeks now since my letter to Senator Santorum. His office responded with a form letter detailing the White House administration’s position. I have no doubt he will never read my letter or respond thoughtfully. And why should?
In 2004 my candidate of choice was committed to balancing the budget, preserving social security as the safety net of the elderly in our society, improving education, returning strength to the working class, decreasing abortions, and promoting a foreign policy that focused on the United States of America as good neighbor and servant to other nations.
Of course my candidate didn’t exist.
Did yours?
Did you vote for someone that you felt had studied the issues and understood the long-term implications to our people? Did you vote for someone with wisdom?
Did you vote for someone that appreciated the impact of health care costs on the middle class or did you vote for a millionaire son of a millionaire?
Did you vote for someone that chose to tax labor more than investment income?
Once again we had the choice of no choice. The circle around the fire only has so many seats in a two-party system, only so many voices. Perhaps it is time that we demanded more…
J Sweeney
3/28/05
“Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capitol, and deserves much the higher consideration.”
– Abraham Lincoln
“Their Authority is only the Esteem of the People, and ceases the Moment that Esteem is lost…here we see the natural Origin of all Power and Authority among a free People”
. – Lt. Governor Cadwallader Colden of New York in 17127, speaking about the Five Nations
There is a veil lifting, a fog dissipating and what shines forth from behind the shroud of ignorance is the truth that we are not the apex of history, that we are not the natural conclusion of all cultures, civilizations, and peoples before us. Indeed we slowly recognize that we are children of a thousand choices and those choices were not predestined, fated, or obvious. They were frequently agonized over but far too often surrendered to those with the means to endure a fight, the prize of which we knew not the value.
Do you feel empowered? Do you feel represented?
Asked another way, if this society of ours had a great circle around the fire where the braves sat and discussed the choices of the tribe, would you be seated among them?
Do you have a voice that is heard?
It has been several weeks now since my letter to Senator Santorum. His office responded with a form letter detailing the White House administration’s position. I have no doubt he will never read my letter or respond thoughtfully. And why should?
In 2004 my candidate of choice was committed to balancing the budget, preserving social security as the safety net of the elderly in our society, improving education, returning strength to the working class, decreasing abortions, and promoting a foreign policy that focused on the United States of America as good neighbor and servant to other nations.
Of course my candidate didn’t exist.
Did yours?
Did you vote for someone that you felt had studied the issues and understood the long-term implications to our people? Did you vote for someone with wisdom?
Did you vote for someone that appreciated the impact of health care costs on the middle class or did you vote for a millionaire son of a millionaire?
Did you vote for someone that chose to tax labor more than investment income?
Once again we had the choice of no choice. The circle around the fire only has so many seats in a two-party system, only so many voices. Perhaps it is time that we demanded more…
Tuesday, March 01, 2005
Open Letter to Senator Santorum
Dear Senator Santorum,
Thank you for appearing on the Sunday talk shows this week. You and Senator Biden both expressed your points of view well and I appreciate the opportunity to learn more about the issues and politics you are currently working on in the nation’s capital. It was also gratifying to hear you mention Pennsylvania's interests and clarify any differences that might exist between them and the current administration’s plans.
I am writing to ask you to carefully consider the long-term impact on Pennsylvania if Social Security is treated as an investment vehicle instead of a safety net protecting the elderly from poverty in retirement. Different strategies are appropriate depending on the role we envision Social Security serving in our community.
Social Security was never intended as a means for creating prosperity. Indeed relatively simple mathematics will show that such a system would be significantly more expensive and still require a safety net like the current social security system to protect individuals who fail to prosper.
You will be told by the investment community that average returns on investments will mean that each dollar contributed today will be worth more in the long-term if it is invested by the individual rather than spent on today’s beneficiaries. That is factually correct but leaves out very important information.
First, today’s beneficiaries will still need to be covered while transitioning to the new system. That means we will pay all of the costs of today’s benefits with less revenue from the current plan or need to increase revenues from some other source.
Second, when a beneficiary stops receiving funds today (due to death) the monies are re-directed to cover the costs of other beneficiaries. Private accounts would curtail this practice and thereby further reduce revenues in the system.
Thirdly, the projections for investment returns are on the average, and based on historical models. The models are beginning to fail due to global economics and the new higher level of private investment in the market. Meanwhile, the average is only that, an average. People with small accounts may not be able to afford the average when one or two significant investment losses can seriously erode their long-term prospects. Someone with a large account can better manage the highs and lows than someone in the lower quartile. This is why in any free market system the wealthy get wealthier than the poor even when presented the same investment opportunities.
Further, I remind you that it is not the government’s job to make people wealthy. We as individuals are blessed with the freedom to start businesses, use tax sheltered 401k and 403B plans, IRA's, Roth IRA's, etc along with other investments to build wealth and non-labor incomes.
In Pennsylvania our tax dollars taken for Social Security are best spent by applying them to offering relief to seniors who's life circumstances, choices, and health leave them with less money than they require in order to live securely during their retirement.
I don’t need to remind you that Pennsylvania has the second largest population of senior citizens in the country. We are a strong state in part because manufacturing pensions and social security benefits allow our seniors to participate actively in the local economy.
The pension system is eroding quickly as more workers are given responsibility over their own retirement investments through employer sponsored 401k plans. These plans are calculated to work in part on the assumption that social security will preserve those whose investments do not fair as well as the average.
I recognize that you are in a political environment and that our commonwealth’s interests may best be served by compromising on issues in order to achieve more important points on some other matter. I submit that this issue is one where Pennsylvania cannot afford to be on the losing side of any compromise. You and Senator Specter are our best advocates in the national government and we rely on you to preserve the fiscal security of our state by aggressively pursuing the interests of our citizens. Please preserve the safety net of social security and turn back the administration’s policy of privatization.
Thank you for your continued service to our community,
Joseph Sweeney
Thank you for appearing on the Sunday talk shows this week. You and Senator Biden both expressed your points of view well and I appreciate the opportunity to learn more about the issues and politics you are currently working on in the nation’s capital. It was also gratifying to hear you mention Pennsylvania's interests and clarify any differences that might exist between them and the current administration’s plans.
I am writing to ask you to carefully consider the long-term impact on Pennsylvania if Social Security is treated as an investment vehicle instead of a safety net protecting the elderly from poverty in retirement. Different strategies are appropriate depending on the role we envision Social Security serving in our community.
Social Security was never intended as a means for creating prosperity. Indeed relatively simple mathematics will show that such a system would be significantly more expensive and still require a safety net like the current social security system to protect individuals who fail to prosper.
You will be told by the investment community that average returns on investments will mean that each dollar contributed today will be worth more in the long-term if it is invested by the individual rather than spent on today’s beneficiaries. That is factually correct but leaves out very important information.
First, today’s beneficiaries will still need to be covered while transitioning to the new system. That means we will pay all of the costs of today’s benefits with less revenue from the current plan or need to increase revenues from some other source.
Second, when a beneficiary stops receiving funds today (due to death) the monies are re-directed to cover the costs of other beneficiaries. Private accounts would curtail this practice and thereby further reduce revenues in the system.
Thirdly, the projections for investment returns are on the average, and based on historical models. The models are beginning to fail due to global economics and the new higher level of private investment in the market. Meanwhile, the average is only that, an average. People with small accounts may not be able to afford the average when one or two significant investment losses can seriously erode their long-term prospects. Someone with a large account can better manage the highs and lows than someone in the lower quartile. This is why in any free market system the wealthy get wealthier than the poor even when presented the same investment opportunities.
Further, I remind you that it is not the government’s job to make people wealthy. We as individuals are blessed with the freedom to start businesses, use tax sheltered 401k and 403B plans, IRA's, Roth IRA's, etc along with other investments to build wealth and non-labor incomes.
In Pennsylvania our tax dollars taken for Social Security are best spent by applying them to offering relief to seniors who's life circumstances, choices, and health leave them with less money than they require in order to live securely during their retirement.
I don’t need to remind you that Pennsylvania has the second largest population of senior citizens in the country. We are a strong state in part because manufacturing pensions and social security benefits allow our seniors to participate actively in the local economy.
The pension system is eroding quickly as more workers are given responsibility over their own retirement investments through employer sponsored 401k plans. These plans are calculated to work in part on the assumption that social security will preserve those whose investments do not fair as well as the average.
I recognize that you are in a political environment and that our commonwealth’s interests may best be served by compromising on issues in order to achieve more important points on some other matter. I submit that this issue is one where Pennsylvania cannot afford to be on the losing side of any compromise. You and Senator Specter are our best advocates in the national government and we rely on you to preserve the fiscal security of our state by aggressively pursuing the interests of our citizens. Please preserve the safety net of social security and turn back the administration’s policy of privatization.
Thank you for your continued service to our community,
Joseph Sweeney
Thursday, February 24, 2005
Recent Reading
Weekly Musings© -Recent Reading
J Sweeney
2/24/05
I was laid up last week after a minor operation and had more than my regular share of time to read. After completing Tom Wolf’s new novel “I Am Charlotte Simmons” and then Emmanuel Derman’s autobiographical account, “My Life As A Quant: Reflections on Physics and Finance”, I greedily began an exploration of game theory.
I purchased three highly acclaimed books on game theory from the online retailer Amazon. Selected to provide a gradually increasing level of technical detail they are “Game Theory: A Nontechnical Introduction”, by Morton D. Davis, “The Complete Strategyst: Being a Primer on the Theory of Games of Strategy”, by J.D. Williams, and finally “The Mathematics of Games of Strategy; Theory and Applications” by Melvin Dresher.
A quick review:
Unless you have teenage children about to enter college or your work requires insight into the youth culture of our county, I suggest you avoid Mr. Wolf’s book. It is sloppily written, un-ambitious, and lacks any new information about the modern college experience. If you don’t already know that students are engaged in historically high levels of immoral and imprudent behavior, and that a culture of decadence is actively promoted to our young people, you are wildly out of touch with our society and should stop voting immediately.
Dr. Derman’s book about the Wall Street intersection of financial derivatives, computer science, and stochastic mathematics is a jaunty ride through a world that many of us (especially Catholics according to Harvard’s President Lawrence Summers) will likely never experience. He relates his movement from academia to investment banking and back. It has the merit of not only offering interesting details but is a great source for answering that timeless question from students, “When will I ever use this stuff?”
It seems some of them think they will graduate and immediately be free from ever thinking, speaking, or estimating the fair value of anything ever again.
Save the best for last is the truism of ice cream and in this case it was true. Morton Davis’ little book on game theory should be required reading for business people and citizens of a democracy. It is a wonderful read.
Incorporating examples from fields as diverse as marketing, defense, to genetic evolution Davis cites the theoretical work of notables like John Nash and Von Neumann. Each chapter begins with a series of situational puzzles and the reader is encouraged to choose their winning strategy before reading the chapter related to that type of game. After carefully explaining the concepts of the chapter and sharing several examples to illustrate the concepts, Davis provides mathematically sound but very accessible solutions to each of the opening questions.
You’ll be amazed at the number of parallels to daily life game theory provides a framework for thinking about. I intend to make it required reading in my high school math class during the fourth quarter. I am already using examples drawn from the book to write more interesting word problems and tie classroom topics to non-traditional applications.
Well, this musing was originally going to be about US strategic dominance and the risk of decline as the EU begins selling advanced weapons to China, but I need to complete more research and thinking before committing anything to paper…oops, paper, yeah right.
J Sweeney
2/24/05
I was laid up last week after a minor operation and had more than my regular share of time to read. After completing Tom Wolf’s new novel “I Am Charlotte Simmons” and then Emmanuel Derman’s autobiographical account, “My Life As A Quant: Reflections on Physics and Finance”, I greedily began an exploration of game theory.
I purchased three highly acclaimed books on game theory from the online retailer Amazon. Selected to provide a gradually increasing level of technical detail they are “Game Theory: A Nontechnical Introduction”, by Morton D. Davis, “The Complete Strategyst: Being a Primer on the Theory of Games of Strategy”, by J.D. Williams, and finally “The Mathematics of Games of Strategy; Theory and Applications” by Melvin Dresher.
A quick review:
Unless you have teenage children about to enter college or your work requires insight into the youth culture of our county, I suggest you avoid Mr. Wolf’s book. It is sloppily written, un-ambitious, and lacks any new information about the modern college experience. If you don’t already know that students are engaged in historically high levels of immoral and imprudent behavior, and that a culture of decadence is actively promoted to our young people, you are wildly out of touch with our society and should stop voting immediately.
Dr. Derman’s book about the Wall Street intersection of financial derivatives, computer science, and stochastic mathematics is a jaunty ride through a world that many of us (especially Catholics according to Harvard’s President Lawrence Summers) will likely never experience. He relates his movement from academia to investment banking and back. It has the merit of not only offering interesting details but is a great source for answering that timeless question from students, “When will I ever use this stuff?”
It seems some of them think they will graduate and immediately be free from ever thinking, speaking, or estimating the fair value of anything ever again.
Save the best for last is the truism of ice cream and in this case it was true. Morton Davis’ little book on game theory should be required reading for business people and citizens of a democracy. It is a wonderful read.
Incorporating examples from fields as diverse as marketing, defense, to genetic evolution Davis cites the theoretical work of notables like John Nash and Von Neumann. Each chapter begins with a series of situational puzzles and the reader is encouraged to choose their winning strategy before reading the chapter related to that type of game. After carefully explaining the concepts of the chapter and sharing several examples to illustrate the concepts, Davis provides mathematically sound but very accessible solutions to each of the opening questions.
You’ll be amazed at the number of parallels to daily life game theory provides a framework for thinking about. I intend to make it required reading in my high school math class during the fourth quarter. I am already using examples drawn from the book to write more interesting word problems and tie classroom topics to non-traditional applications.
Well, this musing was originally going to be about US strategic dominance and the risk of decline as the EU begins selling advanced weapons to China, but I need to complete more research and thinking before committing anything to paper…oops, paper, yeah right.
Snow Day!
There are few sounds more welcome at 5:30 AM than the phone ringing on a day when snow is forcasted. An unexpected day off is a special gift of time to my way of thinking. We all seem to fill our days to the brim, leaving little room for the multitude of little things we wish to do but seldom find space in our lives to actually address. So it has been that I have mused and considered a multitude of topics on my daily commute but not composed a single missive to you in so long.
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