Wondering on Wednesday 4/3/24

Ready... Set... Wonder!

I saw an article in The Week about 'passive investing' - using index funds to do the work for you, or for your 401(k). The Week, if you aren't familiar with it, presents news items with multiple viewpoints from different media outlets. Here's a bit of the piece on index funds, with my emphasis added.

A market doesn’t work if everyone just “sits back and watches their money grow,” said Katie Martin in the Financial Times. It sounds “a little snobbish” to rail against passive investing, “which has unlocked wealth for millions of people who otherwise might not be active in financial markets at all.” But several recent studies have found that indexed stocks have begun to “show lower sensitivity” even to major economic shocks than their non-indexed counterparts. That turns investing from a process of “seeking out, rewarding, and profiting from successful companies” to a “circular bet” on more money flowing into the market.

The article came out before Trump Media and Technology Group (DJT on the Nasdaq)  went public with a value of some $8B, even though the company has ridiculously poor financial performance.

Is this the kind of company you'd 'seek out and reward,' I wonder?

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Perhaps as many as half a million folks in California got a raise this week, as the minimum wage for most fast-food workers - and only those workers - increased from $16/hour to $20/hour. The raise stems from a bill signed by Gov. Gavin Newsom last fall, and comes a few weeks after workers formed the California Fast Food Workers Union.

Generally, I'm not a fan of politicians singling out a category of workers and changing their minimum wage without adjusting the minimum wages for other low-paid workers, but I don't wonder why politicians do it.

What I do wonder is why so many people think it's OK for the government to make a random distinction between a fast-food worker and a day-care worker, a home health aide, or a janitorial staffer. And I wonder why, when the politicians do this for some but not for all, people are so comfortable telling the other workers to 'just go ask for a raise,' or 'organize and fight for themselves.'

And, of course, I wonder how the pols come up with the convoluted rules they apply. This law applies to "restaurants offering limited or no table service and which are part of a national chain with at least 60 establishments nationwide. Restaurants operating inside a grocery establishment are exempt, as are restaurants producing and selling bread as a stand-alone menu item."  

A shoutout to anyone who can make this make sense. I sure can't.

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This one has me scratching my head with wonder. I was not aware that there's a thing out in the Interwebs asking, "Who actually eats at Arby's?" And, until this morning when I saw this article that Arby's is going to give "skeptics" four free sandwiches this month, to try and convince them how good the food is. According to the company's Chief Marketing Officer, the chain is "putting our money where our mouth is," and that April is

the perfect opportunity for any skeptics out there to try any of the sandwiches they've been eyeing.

There's just one catch: the 'skeptics' who have been "eyeing" the sandwiches have to be enrolled in the company's rewards program to get the free sandwiches. Call me skeptical, but I wonder how many of the free sammies are going to go to existing rewards members, not to new customers?

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It seems 'the right' found itself in a bit of a snit over Easter Sunday. It seems that 'the left' has attacked Easter with the same zeal as it fights the war on Christmas. First, President Biden dared recognize the annual Transgender Day of Visibility, celebrated annually on March 31st. That's a bad thing, it would appear, when Easter also falls on March 31st - at least according to House Speaker Mike Johnson and the other usual suspects. But that's only half of the problem. 

The other issue? A ban on religious Easter eggs at the Biden White House. I kid you not.

...guidelines for the contest in which kids submit decorated eggs for a White House display specify that the art "must not include any questionable content, religious symbols, overtly religious themes, or partisan political statements. 

There's only one problem: the guidelines don't belong to 'the left' and they don't come from the Bidens. They come from the American Egg Board, which has had the same rules since the 70s. And that means former president Donald Trump attacked Easter using one of the exact same weapons as President Biden used.

So, what am I wondering here? With all the effort 'the right' puts into manufacturing wars by 'the left' against Christian holidays, I wonder why they don't put even one iota of effort into attacking the very un-Christian, unreligious, unpleasant, unpatriotic Easter 'truth' posted by their fearless leader. 

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Louisiana Gov. Jeff Landry (R-MAGA) is unhappy that LSU's women's basketball team wasn't on the floor for the playing of our country's National Anthem (not to be confused with "America's most recognized patriotic anthem," Lee Greenwood's God Bless the USA) at their Elite Eight appearance in Albany on Sunday. 

So unhappy, in fact, that he wants the state's Board of Regents to create a policy requiring student-athletes "be present for the National Anthem or lose their scholarships." He even managed to bring his mother into the mix with his tweet on the subject, which said, in part,

My mother coached women's high school basketball during the height of desegregation, no one has a greater respect for the sport and for Coach Mulkey. However, above respect for the game is a deeper respect for those that serve to protect us and unite us under one flag !

Landry apparently doesn't know that college athletes in his state, and others, typically aren't on the court or field for the anthem, which is played several minutes before the game starts. And he apparently doesn't know that they haven't been, for many years. And he apparently doesn't know that the Regents have nothing to do with scholarships. 

It kind of makes me wonder whether he gave this whole thing any thought at all, or if he just shoots from the lip like the guy who endorsed him for governor.

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Oh - in case you're wondering, here's the current status of the GoFundMe to raise money to help the former president pay his judgments. I'll continue to report on this each week, but for now, it looks like it's gonna take a while.

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What's on your wondering mind tonight?

Sunday School 3/31/24: Extra Credit

For your Extra Credit this week, I've opted to highlight a conversation with two religious leaders from Washington, DC: Wilton Cardinal Gregory, the Catholic Archbishop, and the Right Reverand Marianna Budde, the Episcopal Bishop. They spoke with Ed O'Keefe last Thursday, and the interview was shared in the Face the Nation classroom. Here are some excerpts from their conversation.

O'Keefe talked about presidential candidates Donald Trump and Joe Biden, and compared how they 'invoke Christianity."

I know this gets a little tricky. But we have one who is now selling Bibles that also have copies of the Constitution and a Bill of Rights in them. But the other is the second Catholic president, who goes to church every Sunday, who observes the holy days of obligation, and builds his schedule around them, but doesn't talk at all publicly and is uncomfortable speaking about his own faith. Are you comfortable with the role and the level of Christianity in our politics today?

Cardinal Gregory said that faith used to be "the moral voice" that political people would turn to, as the "moral compass." And now?

...I think in some cases it's the political world that's beginning to set or claiming to set the moral voice. We've switched positions. There is a great need, I believe, to place faith in its proper position, which is not necessarily antagonistic to the political arena. But to seize the responsibility of being that guiding principle, that moral light for our people to turn to.

Bishop Budde expressed concern about how the "message of Christianity is being distorted" in the country, calling it a "cause for deep concern," and more.

I feel it's a – it's an abuse of the faith. And I have to be very careful because I'm not perfect in my understanding of what it means, A, to be a perfect Christian, I'm not a perfect Christian and I'm not a perfect American, but I think we are walking on very thin ice now. I would encourage anyone who buys a Bible to read the Bible and in particular to read the teachings of Jesus, and then to set our policies if we're going to call ourselves a Christian nation against the highest aspirations that Jesus calls us to.

The two faith leaders disagreed a bit on what kind of Catholic President Biden is; Cardinal Gregory said "he could say he's very sincere about his faith," but referenced the term "cafeteria Catholic," one who chooses "that which is attractive" while dismissing "that which is challenging." Budde said, "Or, as Thomas Aquinas would say, you allow your conscience to guide you."

O'Keefe wondered if there's "something on the menu he's not ordering," in Cardinal Gregory's view.

Well, I would say there are things, especially in terms of the life issues, there are things that he chooses to ignore or he uses the current situation as a political pawn rather than saying, look, my church believes this.

 Again, Bishop Budde countered with what I think is a more balanced view.

It's also possible to be a practitioner of the faith as a public leader and not require everyone that you lead in your country to be guided by all of the precepts of your faith, right?

O'Keefe said that seems to be what Biden believes, and Budde concurred, saying that's how she interprets it. She also spoke from her experiences worshipping with Biden at Washington's National Cathedral.

I will say the one thing about him that I admire tremendously - there is not a funeral of a state's person or a state person's spouse that he does not attend, stay through the entire service, and speak from the pulpit as in eulogy, and I find that example to be an expression of authentic faith.

When asked, Cardinal Gregory said he "would not put a lot of emphasis" on any sort of "Biden impact on the pews," and he added some not unexpected perspective on the 'cafeteria Catholic' comment.

He does attend church regularly with great, you know, devotion. But he also steps aside some of the hot-button issues or uses the hot-button issues as a political tool, which it's not – it is not the way I think we would want our faith to be used. The issues of life begin at the very beginning and they conclude at natural death. And you can't – you can't pick and choose. You're either one who respects life, and all of its dimensions, or you have to step aside and say, I'm not pro-life, I'm, you know, on one side of the equation I feel that I could support this dimension of life, but in others, I would step aside.

In response, Bishop Budde offered this.

I love the spectrum of life. I think you can be in adherence of the spectrum of life and still respect a woman's right to choose in reproductive health and including when to have an abortion in the early stages of pregnancy. So I'll just say that as a Christian I believe that that's possible and still hold to the full spectrum of life.

I appreciated how the two faith leaders spoke about their positions, but I'm surprised that the bulk of the conversation focused on how President Biden lives his faith, and nothing about president Trump and his faith. I'm not sure whether O'Keefe opted to lead the conversation towards Biden, or if his guests didn't want to talk about it. 

I think it was a disservice not to delve into how the guy who makes money selling Bibles commands so much respect from people who self-identify as 'religious.'  Maybe next time, I guess...

FYI, here's my Easter message from several years ago. Like Bishop Budde, I'm not a perfect American, or a perfect anything else, for that matter, but I appreciate the value in making an effort to be a better person, regardless of whether or not I check a 'religion' box on a form somewhere.

See you around campus.

An Easter Message

Easter sunrise, 2015/veritablepastiche

Today is a day of celebration for some, a deeply religious holiday for those who celebrate that The Son is risen. For others, it's a 'normal' day, filled with content that the sun has risen.

For me, being in the latter half of that equation, Easter Sunday has always been a day of family, food and laughter, with heavy emphasis on the laughter part, certainly while my Dad was alive, and we have done well to keep that going since he's been gone.

When we were kids, we colored eggs, and had our Easter egg hunts, searching high and low for the ones we had colored and the coveted plastic ones with coins or jelly beans inside them.  I can picture my brothers, one and two years older than me, and taller, wandering around the house on Easter morning, checking things out, making mental notes of where the good ones were. My oldest brother had a way of tilting his head and raising an eyebrow when he saw a treasure waiting in what I'm sure Mom and Dad thought was a particularly good hiding place.

I also remember us getting chided by my Dad, for doing reconnaissance before he and Mom got up, for trying to take more than our fair share, not playing well together, and so on.

Even though we stopped going to church when we were young, around nine or ten I think, there was always an expectation  that we would 'behave' appropriately.  Not just from a discipline perspective, such as riding your bike into the charcoal grill (me), or succumbing to peer pressure and shoplifting (me), or playing with matches (NOT me), or a classic, 'spelling' bad words by writing 7734 upside-down (yeah that was me again), but from the larger perspective too.

You did not need to go to church, you did not need to believe that Christ died on the cross, or in the Resurrection, or in the rest of it, to understand that treating people fairly and with respect was the right thing to do, that taking everything you saw or could get your hands on and leaving others with nothing was the wrong thing to do, that being mean and calling people names or picking on people who were 'different' was not acceptable, or that being charitable, even to your annoying little sister, was the better path to take.

Surely, we did not learn these lessons perfectly, sometimes to the chagrin of my Methodist mom and my non-religious Dad, but I suspect they hadn't learned the lessons perfectly either. My Dad never met a dumb blond joke he didn't like, for example, and never missed an episode of All in the Family, but made sure that 'Polack' jokes became 'Peter, Andy and Susan' jokes.  They never stopped trying - and never stopped encouraging us, through word and deed, to keep trying as well, not because there'll be a place for us in Heaven if we do, but because our place on Earth can be better for the effort.

And that's where we are today, some 45 or 50 years later. Our collective place on Earth can be better for the effort, for the simple wisdom that we were taught when we were kids:

Do unto others as you would have them do unto you. 

Let's not do things to others in the name of our religious beliefs or our politics that we would not willingly accept if done to us by others in the name of their religious beliefs or their politics.

Let's not be the reason why, in what is arguably the greatest democracy in the history of the world, we need to have laws on the books reminding us that we cannot discriminate against others based on their

race, color, religion, ancestry, age, national origin, disability, sex, sexual orientation, gender identify, or United States military service

This doesn't mean that we can't find things distasteful, or that we have to like everyone, or that our circle of friends needs to look like a Target ad or an Applebee's commercial or the stock photos we see in our company's publications, or that we have to agree with everyone on everything, or even that we have to understand everyone else.

After all, we are not perfect, and I don't think (for believers or non-believers) that perfection is the expectation. But can we strive to do better, be more accepting, more tolerant, more forgiving, more understanding?

Make room. Do unto others.

Happy Easter.