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Tuesday, December 6, 2016

The Writer's Life 12/6 - Money

In an article in today's NY Post Nicole Gelinas warns of a financial crisis. In 2008 U.S. debt was $39.4 trillion. Today it is 46.3 trillion. NYC owes $83.4 billion, up from $64.4 billion 10 years ago. The state owes $158.7 billion, up from $143.2 billion in 2008. Will borrowing to finance debt eventually prove catastrophic, especially if interest rates rise? I have no idea, but it does seem madness. This has me questioning president-elect Trump's determination to make a massive investment in infrastructure, although it is sorely needed. It may be wise to wait two years to see what revenue is after all the tax cuts. A significant windfall will go a long way toward solving the problems. And let's hope our leaders resist the temptation of bidding to host the Olympics. Three months after the most recent games, Rio de Janeiro is $31 billion in debt. The wages and pensions of government workers have been slashed 30%. Ouch. The Games do not provide the promised boon. They are more often a boondoggle financially.

Here's a great tech story. A BMW was stolen in Seattle. GPS located it and remotely locked the doors, trapping the thief inside. Cops found crystal meth in his possession. Now that's poetic justice. The Beemer's owner certainly got his money's worth.

Last night in Oakland the Warriors' Klay Thompson went on one of his incredible shooting jags, scoring 60 points in under 30 minutes, an NBA record. He was 21-33 from the field, including eight three-pointers, and 10-11 from the free throw line. He didn't play in the fourth quarter. How many points would he have scored if the game had been close? His salary is $15.5 million this season. Kudos.

NFL: Is anyone surprised the Giants lost in Pittsburgh? Unfortunately, the bad Eli Manning, as opposed to the good, showed up... Nothing changed much in terms of playoff contention... I'm happy that Matt Barkley turned in a second straight solid performance for the woeful Bears. He was a great college QB. I hope he gets a full shot at proving himself... The best story of the weekend was Eric Berry's heroics in the Chiefs win at Atlanta. The cancer survivor returned an interception for a TD, and also a two-point conversion attempt that provided the margin of victory, 29-28, ripping the heart out of Falcons' fans. Kudos... Looks like another Jets coach will bite the dust.  

The floating book shop was very active this cloudy, brisk December day. My thanks to the gentleman who bought James Patterson's Cross Kill and David Cay Johnson's The Making of Donald Trump, and to the gentleman who bought a collection of Voltaire's works and The Human Zoo by Desmond Morris; and to the woman who bought a Mary Higgins Clarke mystery; and to Al the Mensch, who bought AMERICAN LION: Andrew Jackson in the White House by Jon Meacham; and to the woman who bought a work of non-fiction; and to Cabbie, who swapped five of his paperbacks for four of mine; and to Herbie, who donated two hardcover thrillers; and to Marie, who donated three books and CD's by Annie Lennox and Andrea Bocelli.
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