This might be an example of a "Veblen curve" product that I will buy: I have seen on social media numerous videos of huge brawls on Carnival Cruise ships. This is almost certainly because Carnival is one of the cheapest, maybe THE cheapest cruise line available. I will never go on a Carnival Cruise because of this. I gladly pay for one of the most expensive cruise lines---Viking. A number of months ago, the WSJ had an article on the success of Viking. The article was mostly a list of things that Viking does NOT have on it's ships, starting with kids. The people who cruise with Viking are civilized, learned, and cultured. Plus everything about their tours are perfect: the ships, food, drinks, service, and the off-ship excursions. I'm willing to pay more in order to enjoy a vacation with people like that.
Honestly Washington D.C. and all of its debt scares me to death. Both parties are wrecking this country with all of the deficit spending at a time when we are NOT in a recession (not even close) and we are generally NOT at war. If we would've elected Ross Perot in 1992, we might now have a balanced budget amendment which I think would be an extremely good thing. Since I sat on a city council for 6 years, I have experience with the requirement of a balanced budget for a government.
The missing $2 billion causes me to think that this was just fraud, not a canary in the coal mine. If it were just a case of a failing company the financials and other records should reveal the losses and the causes of the losses. Thanks for this article. As a commercial credit officer, I'm very interested in post mortem analyses like this.
I am very, very concerned about the foolishness of the Republicans and their tax cuts (and I always vote Republican because I thought we were the party of values and responsibility!). When they cut taxes in 2017 I didn't need the tax cut, and I don't need it now. No one should even be thinking about tax cuts until there is a budget surplus. Just as I am on the cusp of retiring, I'm very concerned that the fools in Washington are going to wreck my portfolio. Unbelievable!
I'm not a fan of gold at all. I'm very disappointed when some of my favorite talk radio hosts get on the air and give their best snake oil pitch for gold.
A comment about the "hedonic treadmill". My goal, for decades, was to have $1 million saved up in my retirement accounts. After my divorce 11 years ago, my balances got cut in half to $250,000, which made achieving the goal all the more difficult. However, I started plowing the maximum allowed by the IRS into my 401k and shortly afterwards, tightened my belt even more and put all contributions into the Roth 401k. I DID achieve my goal on 12/13/23 and am now about 20% above it. However, the satisfaction/joy/happiness/relief/whatever lasted only a couple of days. But after that, what happened? It's not that I became DISSATISFIED with the achievement. But it's just not that big of a deal now. Now I've moved onto worrying about something I have zero control over: the idiots in Washington wrecking the economy with the $36 trillion of debt that we have and putting a HUGE dent in my savings when I'm retired. "Vanity, vanity, all is vanity."
Thank you Jonathan. I love that you care so much for Elaine. There are those of us who do not ever expect to find that kind of love again in this lifetime.
Comments
This might be an example of a "Veblen curve" product that I will buy: I have seen on social media numerous videos of huge brawls on Carnival Cruise ships. This is almost certainly because Carnival is one of the cheapest, maybe THE cheapest cruise line available. I will never go on a Carnival Cruise because of this. I gladly pay for one of the most expensive cruise lines---Viking. A number of months ago, the WSJ had an article on the success of Viking. The article was mostly a list of things that Viking does NOT have on it's ships, starting with kids. The people who cruise with Viking are civilized, learned, and cultured. Plus everything about their tours are perfect: the ships, food, drinks, service, and the off-ship excursions. I'm willing to pay more in order to enjoy a vacation with people like that.
Post: Investment Wisdom
Link to comment from June 27, 2026
Honestly Washington D.C. and all of its debt scares me to death. Both parties are wrecking this country with all of the deficit spending at a time when we are NOT in a recession (not even close) and we are generally NOT at war. If we would've elected Ross Perot in 1992, we might now have a balanced budget amendment which I think would be an extremely good thing. Since I sat on a city council for 6 years, I have experience with the requirement of a balanced budget for a government.
Post: Inflation and Innovation
Link to comment from May 23, 2026
The missing $2 billion causes me to think that this was just fraud, not a canary in the coal mine. If it were just a case of a failing company the financials and other records should reveal the losses and the causes of the losses. Thanks for this article. As a commercial credit officer, I'm very interested in post mortem analyses like this.
Post: Lessons from First Brands
Link to comment from November 1, 2025
Thanks for the clear explanation. I'm a banker and I still struggled to understand what "Stablecoin" and what good is it?
Post: Smart Move?
Link to comment from August 9, 2025
I am very, very concerned about the foolishness of the Republicans and their tax cuts (and I always vote Republican because I thought we were the party of values and responsibility!). When they cut taxes in 2017 I didn't need the tax cut, and I don't need it now. No one should even be thinking about tax cuts until there is a budget surplus. Just as I am on the cusp of retiring, I'm very concerned that the fools in Washington are going to wreck my portfolio. Unbelievable!
Post: Feeling Moody
Link to comment from May 24, 2025
I'm not a fan of gold at all. I'm very disappointed when some of my favorite talk radio hosts get on the air and give their best snake oil pitch for gold.
Post: Go for the Gold?
Link to comment from May 10, 2025
Jonathon, Thank you for sharing your wisdom, financial and otherwise. I'm sure that you have helped many in their lives. All the best to you!
Post: Four Thoughts
Link to comment from March 1, 2025
A comment about the "hedonic treadmill". My goal, for decades, was to have $1 million saved up in my retirement accounts. After my divorce 11 years ago, my balances got cut in half to $250,000, which made achieving the goal all the more difficult. However, I started plowing the maximum allowed by the IRS into my 401k and shortly afterwards, tightened my belt even more and put all contributions into the Roth 401k. I DID achieve my goal on 12/13/23 and am now about 20% above it. However, the satisfaction/joy/happiness/relief/whatever lasted only a couple of days. But after that, what happened? It's not that I became DISSATISFIED with the achievement. But it's just not that big of a deal now. Now I've moved onto worrying about something I have zero control over: the idiots in Washington wrecking the economy with the $36 trillion of debt that we have and putting a HUGE dent in my savings when I'm retired. "Vanity, vanity, all is vanity."
Post: Why We Struggle
Link to comment from January 4, 2025
Thank you Jonathan. I love that you care so much for Elaine. There are those of us who do not ever expect to find that kind of love again in this lifetime.
Post: Model Behavior
Link to comment from December 21, 2024
After posting this I felt I needed to give credit to the Amish builders who built our home. They really do their work perfectly.
Post: On the Clock
Link to comment from August 17, 2024