Dr. Riedy's Random Thoughts

  PANDEMIC SERIES, THIRD ESSAY (Bitcoin and stocks, ports in a storm or storms in a port?) We face a national overload of major socio-economic, medical and political issues.   Yet despite such a negative environment, and as counter-intuitive as it seems, Bitcoin and stock market prices are flirting with and occasionally surging to record highs-- indicators of a healthy economy with strong growth prospects. Are they for real? Here is my “take” on whether these high price levels are sustainable. First, Bitcoin: Storms in a port. Other than someone being willing to accept them in payment for purchases (as a “medium of exchange”), I believe Bitcoin have less inherent value than tulips in Holland. Moreover, the U.S. Government does not offer “backing” to Bitcoin, whereas it does “back” the American dollar* underlying our stock markets. Nonetheless, believers in cybercurrency will argue that the incredible run-up in prices of Bitcoin proves their inherent “value”.   (Non-believers alle

  PANDEMIC SERIES, ESSAY 2 (Gaining control over our lives as best we could) Whether in mid-pandemic or not, as individuals we have precious little control or influence over events, policies and outcomes at the macro (international, national, state) levels, even though they have significant implications for and impacts on our daily lives. We must look to civic, business and political leaders and expect them to act in good faith to honor America’s constitution and laws, reflect its values and advance economic and societal progress for the common good. Whether or not they live up to these ideals, however, our macro environment can still go to hell due to causes like the current pandemic, foreign terrorism or hacking of intelligence and other vital systems, espionage and war. Living within a macro environment beyond our ability to exert control can be frustrating, terrifying, thrilling or satisfying, depending upon how that environment affects us individually at the micro level in t

  PANDEMIC SERIES, ESSAY 1 On March 22, 2020, I wrote one of my first essays on what was at that time the “new” or “novel” coronavirus.   Like most, I was completely naïve, and mused about its expected duration, using terms like “heaven forbid that it lasts a month, much less two”.   Having had to gut it out for the better part of a year, however, when last year drew to a close the consensus view was “good riddance to 2020”. We welcomed 2021 with cautious optimism. Yet before we could even catch our breath after the holidays, on January 6, this Nation’s constitution, its highest ideals and one of our most symbolic and inspirational institutions, the U.S. Capitol, were attacked by domestic terrorists. As I write this Americans collectively are holding their breath in fearful anticipation of a second round of assaults, only this time not solely in Washington, D.C. Most of us experienced all that transpired over the last nine-to-ten months on two different levels, one macro (observing