The Stock Market, Super Bowl and Survivor

Krikor Daglian
January 05, 2001

I had hoped that the New Year would see a rebound in the stock market, at least to the extent that everything in my portfolio wouldnt be in the red. Checking in periodically at Yahoo on January 2nd confirmed that the imagined turnaround isnt going to happen, at least not right away. Its really amazing how much faster I seem to be able to lose money with my stocks than gain it. As I was sitting there, checking the balance of my portfolio with Yahoos handy portfolio feature in My Yahoo, I could count on the amount of money I have lost since purchase to decrease by a buck or two with every reload. And keep in mind I was checking back about every two minutes, sometimes less (the fact that I have this habit is a whole nother column). I remember a time  it seems so distant now  that I was actually making some money on my securities. Even then, I never saw monetary increases come so quickly.

You may be reading this and be saying Well, what about on Wednesday, when the Fed lowered interest rates and the market went crazy? Well, on Wednesday around 1, my shares of E-Bay did indeed suddenly become a lot more valuable as its stock price jumped about 7 points in 5 minutes. Even then, though, my inner Eeyore couldnt help think of how much more money I have to lose now. This feeling proved right, as, once again, a rally was negated by sell-offs over the next few days. It seems like nobody believes that a rebound is possible (I cant imagine why, what with the media and prominent political leaders talking recession all the time), and they all want to make some quick money while they can. I suppose there are a lot of people who lost a lot of money when the market began melting down last year, so this is expected.

What is with this gambit recently by Republicans to lure black voters over to their party? Every week, I see another right winger talking about how the Democrats take blacks for granted, and how they arent doing anything for them. Instead, they reason, blacks should support the GOP, so that both the GOP and the Dems fight to get their vote. This implies that the Republicans care at all about the plight of blacks. How can a party with a majority of members who oppose Affirmative Action claim to be interested in helping minorities? On a similar subject, albeit a slightly old one, I was watching an interview with George Bush the Elder the other day. He became visibly angry when questioned about the NAACP ad that attacked his son, giving the impression that he found it unbelievably unethical and dirty. The now infamous ad described the death of James Byrd Jr., an African-American in Texas, from being dragged off the back of a truck by chains. The ad implicitly criticized G.W. Bush by noting that, as governor, he failed to pass a hate crime bill which would have punished the offenders in this case more strongly. Whether or not the ad was inappropriate, it boggles me that George Bush Sr. would have such strong words of disgust about this ad. Does the name Willy Horton ring a bell? Was it not George Bush who played the race card and the violence card in blaming Michael Dukakis for being too soft on a convicted killer and letting him kill more people?

Like father like son, I guess. Dubya is once again showing how shallow his views are and how much of a hypocrite he can be. His actions during the recounts in Florida clearly demonstrated that his beliefs only applied in the circumstances he wanted them to, namely, the ones advantageous to him and his side. He pledged that he trusted the people, not the government, yet when it looked like a full recount might reveal that he did not win the state of Florida, his team and his party began calling into question how trustworthy the ballot-counting people were, and then promptly ran to the federal government to get the process halted. And arent the Republicans the ones who stand up for states rights?

So now, as a letter in the January 4^th issue of the NY Times ingeniously pointed out, Bush is being a hypocrite again. His diverse cabinet, one that has been praised by some as more diverse than Clintons, is indeed an achievement, even if the opinions of the minorities in the cabinet dont reflect those of the majority of their race. But, it is clear that Mr. Bush, believing that his cabinet and administration will benefit politically and functionally from such diversity, acted affirmatively to select competent individuals who represent a variety of backgrounds. In light of his obvious inclusion of race, ethnicity and gender in his appointment decisions, I find it remarkable that he and so many of his designees can be so very hostile toward similar practices in public sector hiring, college admissions and other decisions that may take the backgrounds of applicants into account.

People who dislike Gore, recalling his conduct during the first debate and the perception of him as trying to steal the election in Florida, might ask pointedly whether youd rather have someone like Gore in office. Even if I were to agree with this characterization of Gore, Id rather have someone who is personally annoying than someone who is just dumb. After all, its possible to avoid hearing or seeing the President, but its impossible to avoid the changes that take place as a result of his administration without leaving the country.

On a lighter note, it looks to be another interesting Super Bowl this year, with no powerhouse team set to dominate. Many people are also no doubt just as excited by the premier of Survivor II just after the Super Bowl. I was never a big Survivor fan the first time around. In fact, I didnt see a single episode until the final one. I might give it a chance this time, though, especially since my cable plan currently only provides me with the networks, a few local access stations, and the cable rejects. Survivor II will undoubtedly be a big hit, but the future of the series depends greatly on whether the shows creators have picked another cast that will produce the drama of the original. Will there be another off-putting but intriguing schemer with a master plan, more betrayals and dramatic denouncements, more rumored romances? If not, well, Survivor III may not be in the cards. But for now, I welcome the new season, especially after viewing the pictures of the new participants on the CBS web site. If nothing else, this season will be easy on the eyes.