When an event occurs that no one could have predicted nor saw coming that ends up having a significantly negative effect on the stock market, it is often referred to as a “Black Swan Event.” Such events almost always cause massive damage and leave the average investor in a state of fear and panic. The term was made popular by Nassim Taleb, who wrote about these events in his book, “Fooled by Randomness.” In it, he attributes three constant factors that must be maintained in a so-called “Black Swan Event.” They are:
Twenty-million jobs were lost in April due to the shutdown, representing 20 years of job gains. There was a solid recovery early this summer, with 2.7 million jobs created in May and 4.8 million jobs created in June. However, the rate of job creation has steadily declined since then, so that only 245,000 jobs were created in November.
I’m sure I am not the only one happy to say goodbye to the year 2020. Goodbye and good riddance! Now it is time to concentrate on a fresh, new year and look for better times on the horizon. My goals for 2021 are a little different than years past. They are usually pretty boring – you know, like losing weight and exercising more. Instead, what I plan to do this year is to only concentrate on what is positive in my life and to make a few changes. So, here are my New Year’s Resolutions.
The No. 1 New Year’s Resolution for 2020 was to eat healthier. Getting more exercise was second on the list.
When I was introduced to “Cat’s in the Cradle” over the Top 40 airwaves in 1974, I was a teenager who was attracted to Harry Chapin’s wistful song about father-son relationships. When I listen to it now on satellite oldies radio, I connect with it from the other end of the age spectrum, as a dad who wonders where all the years went.
Confession time: My Christmas decorations have been up since November 1, and I am not ashamed.
The year 2020 is coming to an end – a year of forced change, unwanted adjustments and re-learning many different aspects of our lives. Americans know how to work hard and we also know how to play hard. In fact, one of the most difficult aspects of the global pandemic has been our inability to do whatever we can afford to do, whenever we want to do it. One of the upsides of the inability to travel and spend money has been that many families who were blessed to stay employed have experienced significant adjustments to their leisure spending. These reduced expenditures have created an opportunity for us to view these unfortunate lifestyle changes as a chance to beef up our retirement savings.
To mitigate COVID in the winter months, there will likely be calls for another economic shutdown. However, a second shutdown could be catastrophic for our economy and thus, should be avoided at almost all cost.
Listening to violin music always makes me think about my dad who was a talented violinist and luthier – a maker of violins. As I wrote this month’s feature about Flint Symphony Orchestra violinist, Alesia Byrd Johnson, I thought of him.
With COVID-19 showing no signs of letting up any time soon, my family was recently overcome with cabin fever. Our toddler stoutly refuses a mask, a gaiter, bandana or face covering of any kind, (heck, he won’t even wear a hat), so our options for a getaway were pretty limited. No air travel, since our little guy won’t comply with a mask mandate, no flight to Europe in any case (since Americans aren’t exactly welcome) and a long drive wasn’t happening (toddler, as I mentioned) … so, what were we to do?
Both a holiday treat and staple Christmas decoration, the candy cane is synonymous with falling snow, colorful lights, beaming kids and good, ol’ fashioned yuletide cheer. The candy cane is the No. 1 selling non-chocolate candy during the month of the December (and has been since it began being mass produced in the 1950s) with 90 percent of annual sales made between Thanksgiving and Christmas.
