"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
I recently went to Los Angeles as an invited participant/speaker at a conference on the Great Depression. The conference was over Sunday March 13 and rather than fly right home, I decided to stay an extra day and go to Santa Anita Park. It was beautiful and for once I walked out of the track a winner! I went with the Class of 1997 ECU Econ Alumni Hall of Fame member Phil McPherson who resides in Newport Beach, CA. From the top left:
1. I saw my brother again who asked me for $50 bucks. 2. Me at the gates of Santa Anita Park. 3. Class of 1997 ECU Econ Hall of Fame Member Phil McPherson studying the form. 4. Horse racing Icon "Jimmie the Hat" walked right by me. I yelled at him and took his picture. 5. A short video on the beauty of Santa Anita.
Yes, can't you see the family resemblance? My brother has been a bum at the track for the last 40 years and every time I see him it is always the same. "Hey buy me a drink" or "Hey who you got today in the feature?" or "Can I borrow $50? I got the winner, I swear it. I'll pay you back when the race is over. You gotta let me have a stake for my bets today!" So it is always the same crap. I ask him to come home and clean up and get on the straight path in life and he tells me to pound sand. It's tragic really. But if you don't know how to gamble, this is the result. I went to the Fairgrounds in New Orleans and he was there. I saw him all the way out in L.A. How he gets around I do not know. He was at Churchill Downs for the Breeder's Cup last November. My mother still cries over him. I still love him, but it is sad when I see him.
I am a Professor of Economics at East Carolina University in Greenville, NC.
My research focuses on macroeconomics and economic history in general and the economics of the Great Depression in particular. I have authored two books, Reflections on the Great Depression and The Economics of the Great Depression: A Twenty-First Century Look Back at the Economics of the Interwar Era and edited The Seminal Works of the Great Depression. I am currently working on my fourth book Interwar Historical Antecedents of Modern Inflation Targeting and I am the co-editor (with Robert Whaples) of The Handbook of Major Events in Economic History and The Handbook of Modern Economic History.
I have also traveled the country giving speeches on the state of the macroeconomy and other economic issues to many trade and business associations. When I am not thinking about the economy I am either chasing ducks, handicapping horses or arranging a fine dining experience.
Lastly, the opinions expressed on this blog are mine alone and do not reflect upon East Carolina University in any way or manner, in whole or in part, now and forever more under the canopy of heaven.
2 comments:
What do you exactly mean by your brother asking you $50 bucks? Your real brother by genes?
Yes, can't you see the family resemblance? My brother has been a bum at the track for the last 40 years and every time I see him it is always the same. "Hey buy me a drink" or "Hey who you got today in the feature?" or "Can I borrow $50? I got the winner, I swear it. I'll pay you back when the race is over. You gotta let me have a stake for my bets today!" So it is always the same crap. I ask him to come home and clean up and get on the straight path in life and he tells me to pound sand. It's tragic really. But if you don't know how to gamble, this is the result. I went to the Fairgrounds in New Orleans and he was there. I saw him all the way out in L.A. How he gets around I do not know. He was at Churchill Downs for the Breeder's Cup last November. My mother still cries over him. I still love him, but it is sad when I see him.
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