Gambler's Love

I doubt most people ask the sorts of questions that persistently nag me. I want to be assured that whatever I do is worth the trouble. I want to have some significance beyond merely being there, a lump of clay on the ground. Yet, it appears whatever I do is without value to the rest of the world. In that, I am probably like most people.

What are my latest persistent nags? For starters, it's how others are finally and belatedly coming around to my point of view, but I don't get credit for priority. Examples: I was plugging for an International Middle East Conference long before Kofi Annan and others got on that bandwagon. I advocated partition of Iraq before Sen. Biden took up the cause. I really don't mind people taking up my causes; in  fact, I approve them doing so. But I would like some credit, or at least wider recognition, for having thought up something long before others.

I hope everyone noticed the latest wave of violence in the Middle East. Things continue to get worse in Iraq, not better. The continuing American involvement there can only be justified by gambler's love. I have had that happen to me, when I refuse to buy or sell a stock because of the emotion generated by investment. Of course things will get better! Of course they will go my way! I lost an incredible amount of money that way, hoping against hope that technology or other stocks would come back. All of us are afflicted with gambler's love - the emotional attachment to our investments. It's one of the things what keeps families, cultures and societies together even when the original reasons for their formation are long gone. I think the Bandit is stubborn about keeping troops in Iraq on account of that emotion.

The answer to gambler's love is iron discipline. Iron is needed because it's not easy giving up an investment. It's not easy giving up addictions. I know about giving up, because it took me nearly 20 years to quit smoking. In the end, I just quit. It's the same with equities: I am still learning and training myself to dump things that don't work out before I am badly burned. This means I am learning to accept the pain of loss of ending addictive behavior. What I tell myself it this: it is better to accept a loss at a time of my choosing than have it imposed on me. The consolation prize is that I am in control.

I don't think most Americans have faced the music. Iraq keeps getting worse and worse. The answer is get out ASAP, because there's no reason to believe that tomorrow will be any better than today. It's a quagmire, and it has been a quagmire since Day 1 (even before 2003). While I am pleased that a majority of our Congressional representatives are coming around to my position in their words, what's still lacking is any discipline to do deeds. The deeds are these: cut off the money and impeach the President. The American people need to start biting those bullets and demanding action.

There are other merry-go-rounds operating in the United States. While this Congress has enacted a huge amount of legislation, apparently the Bandit will veto a lot of it. The Democrats are just as happy to receive a veto, rather than try for override or get as much as they can in a compromise. Thus, for example, prescription drugs probably will continue to be exorbitantly priced because Medicare won't be ordered to negotiate more favorable terms. In the next election, Democrats will use this issue as a carrot, while the Republicans will use it as a stick. Either way, we won't get price relief. The answer is, of course, get off the merry-go-round and do something, or else! Americans have to get it in their head that representatives who play games with them will get booted. This is a discipline not yet learned: it doesn't matter about Democrats and Republicans, two party system and all that baloney. What matters is whether elected officials will actually respond to the needs and wishes of the people. So, if your representative is a weasel, throw the bum out, and get someone else. In most States, Americans should notice the large selection of third party and independent candidates who should be given a shot at the job. If they don't work, throw them out, too, and try another.

We should have a probationary period for elected officials - maybe 6 months or a year - during which they can be fired (recalled) for any reason. No more 'elect me and I'll get it done next time.' Results, or else! That's it, and that's that.

Americans need to have the same sort of discipline that keeps wealthy and influential investors in chips.