moneythoughts

Valentine's Day 2012

2012-02-14T10:59:00.004-05:00

Okay, so the heart isn't red. So what? Does everything have to be color coded before it means something? Perhaps I am just lazy, or, perhaps that's the way I felt at the time I painted on the envelope. Why an envelope? I have lots of free envelopes so I paint on them. This one I painted a heart and a butterfly. It is not just for Valentine's Day, it is for everyday. People, like the butterfly, should be free. What you do with your heart is your business, and what I do with mine is my business. Have a Happy Valentine's Day.

Butterfly in a Heart by F.D. Zigler, acrylic on paper envelope, 2011.

We Ain't Going Back To The Way It Was!

2012-02-11T08:22:00.005-05:00

Last night I watched a young man of Chinese ancestry, born in the United States, light up Madison Square Gardens in helping the New York Knicks beat the L.A. Lakers. This 6'3" point guard who was undrafted out of Harvard University has exploded onto the NBA scene this past week with a dramatic display of basketball talent. Last night he scored another personal high of 38 points. But, what is so remarkable about this? He is the first Chinese-American to play in the NBA.

I remember when blacks did not play quarterback in the NFL, and then that changed when the Washington Redskins behind Super
Bowl MVP Doug Williams won the Super Bowl XXII and put that piece of prejudice to rest for good.

I get excited when I see barriers come down! Walls come down, and ugly prejudice is shot out of the water! This says something very profound about our society, and some people are not going to like where I am going with this. We as a people are not going back to the ghetto, to the back of the bus, or any other place that ignorance and prejudice dwell. We are going to continue to change, yes I said change, and move forward to embrace a more inclusive society. Those that don't want to ride this train with us, will unfortunately, be left behind. Our society and the world is moving forward without them.

Tribute To Jackie Robinson - Leveling The Playing Field 1947, By F. D. Zigler, acrylic on paper envelope.

But, Why The Hate?

2012-01-24T10:20:00.008-05:00

On a warm June day in 1964, I hitch-hiked from Cincinnati to New Orleans by car. I went through Kentucky, Tennessee, Alabama and Mississippi before I arrived in New Orleans, Louisiana. I had gotten rides with many different people, and I heard many different stories. The Civil Rights Movement in America was on the minds of some of the white people that picked me up on my way to New Orleans. It was, I found out later, a very dangerous time to be traveling through the deep south, especially if you were perceived as being there to work on for the Civil Rights Movement and voter registration of black people in those southern states. It was during that month of June, 1964, that three young men were murdered for working with the Civil Rights Movement and their bodies were buried by a bridge in Mississippi.

Today, it is 2012. Almost 48 years from when I graduated from college and decided to spend my summer working on a ship out of New Orleans. Much time has pasted since those days of the Civil Rights Movement. Much has changed in the deep south, and yet there is, in my opinion and that of others of a like mind, that racism is still very much with us today. I guess I am a bit naive to think that an African-American elected President of these United States in 2008, would not be subjected to such bigotry and hate. What does it matter what is his religion? Why do people persist in saying he is a Muslim if he says he is a Christian? I wonder what they would say if he were a Jew? Why do some people use such language as he is not legally our president? What is that all about? President Obama won the election by a wide margin and was sworn into office by the Chief Justice of the United States Supreme Court! What sense does it make to call into question that he is legally our President?

People can have honest disagreement about how our country should be run. Honest disagreements about political philosophy. Honest disagreements about the role of the Federal Government in the 21st century. But, why the hate? That in my opinion, doesn't belong.

Saturday Is For Art: The Tabernacle Frame

2012-01-21T09:47:00.003-05:00

I got back to work on The Tabernacle Frame this past week. The piece is not finished. Perhaps it needs to be distressed a bit? I have worked on aging the frame a bit, so now I will just let it sit for awhile and move on to something else. This piece which is made from wood and painted in acrylics is about 25" by 25".

The weather here today is nothing but ice. Ice is everywhere and while it may be pretty to look at, it is not pretty to drive or walk on. All we need now is a little sunshine to warm the air to melt the ice and I can get on with my day.

Have a safe and nice weekend.

Mother & Child with 2 Butterflies in Tabernacle Frame by F.D. Zigler, acrylics on wood, 2011-12.

Exploding Flag No. 1

2012-01-16T16:01:00.002-05:00

This is a small piece made of wood and painted in acrylics. I think it is finished, but perhaps later I will make a few changes.

Exploding Flag by F.D. Zigler, acrylics on wood, 2011-12.

Saturday Is For Art: A Sunflower

2012-01-14T10:48:00.002-05:00

Since it is so cold here today, I am posting a sunflower to remind me that in a few months spring will be here. With spring comes flowers and warmer weather. We just need to get through 3 months of cold weather and then we will be in the middle of April.

Have a safe and pleasant weekend.

This post is sponsored by the nice people at Ski Cincinnati apparel. Have you got your Ski Cincinnati hoodie yet?

This photo is slightly out of focus, but I like that as it gives a certain painterly appearance.

Saturday Is For Art: Exploding Flag in Progress- II

2012-01-07T07:26:00.003-05:00

This painting is not finished. It needs more exploding. This has been a fun piece to work on and I might like to create a sister piece to go with it.

Have a safe and enjoyable weekend.

Exploding Flag by F. D. Zigler, acrylic on wood

Looking Back from 2012

2012-01-02T10:40:00.005-05:00

2012 is going to be an interesting year for me and those of my friends and classmates that will turn 70 sometime during the year.

I don't recall much of 1942 as I was probably just trying to get to 1943 and put on a few pounds. I do remember 1952 as I was one of two kids in my fifth grade class at Bond Hill School that was for Stevenson for President. The other kid in my class that shared my hopes that Stevenson would be elected in November 1952 was Marcia Wagner. She was a very bright girl, so I knew I could not be totally wrong in my championing Stevenson. All the other kids liked Eisenhower. As one of the few 5-star Generals during WWII, Ike as he was known, was a popular hero.

In 1962, I turned 20 and started my junior year at the University of Cincinnati. My summer of 1962 was special in that I travelled to California for the first time and spent my summer in LA. I lived in Westwood just off the UCLA campus in a frat house that rented beds for a dollar a day. LA was definitely not Cincinnati, and I loved going to the beach in Santa Monica as I worked from 6pm to 2 am six nights a week as a busboy at a restaurant named Truman's on the corner of Wilshire and Westwood Blvds. One morning in August I went outside to read the newspaper with some of the guys that lived in the house and was told Marilyn Monroe was found dead.

At the end of my summer in LA, I hitched hiked back to Cincinnati to start my junior year at UC. Perhaps later I will write about 1972, 1982, 1992 and 2002. But for now, I have to jump forward into 2012 and get on with painting and selling my t-shirts.

Stay tuned.

Saturday Is For Art: Exploding Flag in Progress

2011-12-31T09:14:00.003-05:00

This latest piece is on wood and it is my design. The piece is a work in progress, but I thought as it is the last day of 2011, I would post the piece of art I am now working on.

Wishing everyone that comes to my blog a Healthy and Happy New Year in 2012.

Take care and be well.

Exploding Flag by F.D. Zigler, acrylics on wood.

Say Nothing, Just Listen

2011-12-30T08:50:00.000-05:00

http://vimeo.com/6518109

Merry Christmas 2011

2011-12-25T09:27:00.002-05:00

And, A Happy New Year.

Mother & Child by F.D. Zigler, linoleum block print, 1996.

SKI CINCINNati Apparel Time Is HERE!

2011-12-24T09:46:00.005-05:00

Ski Cincinnati apparel is available at the following stores and gift shops, but call first to make sure they have the items and sizes you need.

Cincinnati Museum Center gift shop in Union Terminal, the old train station in downtown Cincinnati.

The Contemporary Arts Center gift shop on the corner of 6th & Walnut Streets in downtown Cincinnati. Also see their web store.

The Aquarius Star Cafe at 329 Ludlow Avenue in Clifton business district.

Benchmark Outfitters at 9525 Kenwood Road in Blue Ash.

The Joseph Beth Bookstore in Rookwood Plaza off Edwards & Madison Roads.

The Cincinnati Art Museum gift Shop in Eden Park.

New Work & Wood Icon Update

2011-12-23T10:23:00.006-05:00

Started another project the other day as the weather was very nice and I was able to run my table saw and makes some cuts. This wood piece is at the white stage and is painted with a coat of latex primer and a coat of gesso. In the next stage, I start putting on paint. This new piece I am calling Exploding Flag. I will have to see if it lives up to its name. Below is the Wood Icon Project which is still a work in progress, not nearly finished, but just an update. Here are a few photos reviewing the stages of progress.

Where Greedy SOBs Need to Go!

2011-12-19T13:01:00.005-05:00

I watched 60 MINUTES last night after the football game. There was a segment about houses that are being torn down in Cleveland, and what they are doing in Cleveland about trying to save neighborhoods from falling apart because of the financial crisis and the recession.

Earlier in the day, I watched THIS WEEK, and listened to George Will speak about the housing crisis. I try to like George Will. He is an intelligent person and while I don't always agree with his conservative positions on various topics, I usually think he has at least his facts straight. Sunday, George Will in my opinion did not know WTF he was talking about when he spoke about housing and why there were so many foreclosures.

Now, I am going to relate a personal story that happened to me almost 42 years ago when I went to get a mortgage on my first house in June 1970. I walked into Central Trust Bank at the corner of 4th and Vine Streets, their main office, and asked where I could apply for a home loan. I was instructed to walk through several sliding glass doors until I got to the mortgage department. A man at a desk asked if he could help me and I told him that I wanted to apply for a mortgage. He asked me where the house was located, and I told him Clifton. He then said to me, "north or south of Ludlow (Avenue)?" I said north of Ludlow Avenue, and he said have a seat.

The reason why the Federal Government got into the mortgage business in the first place is because people of color and other ethnic backgrounds were being denied home loans based on where they had to live or the color of their skin. You see, to fully understand why the government got involved in situations years ago, you must understand the history. Newt Gingrich is a big history buff, but he comes from Georgia where they make up their history to suit the situation.

Have you ever heard of REDLINING? Redlining can be defined as when financial institutions refuse to make loans in areas of a city that have people that don't look like the people running the bank. In other words, credit rating had little if anything to do with why the mortgage was not approved, and the lending institution did not have to say why they refused to give the loan. But, what caused this housing crisis, I have written about for the last several years, but you will not hear this explanation on TV because it is too complicated for the mass viewing audience to listen to.

The 3 large credit rating agencies permitted the housing bubble and fueled the financial crisis. Banks made mortgage loans and were able to sell these loans where they were bundled and broken up and sold as mortgage-backed bonds. These mortgage-backed bonds were sold to pension funds, endowments, foundations, large institutions, money mangers and investors around the world. The key to inflating the housing bubble was the TRIPLE-A ratings that the investment bankers were able to secure from the credit rating agencies. With the TRIPLE-A rating in hand, the bond salespeople were able to sell these mortgage-backed bonds around the world. The key element to keep this charade going was the originators of mortgages. With Wall Street investment bankers able to sell mortgage-backed bonds anywhere in the world with a TRIPLE-A rating, the table was set for greed to fill every plate. Wall Street packaged the mortgages regardless of quality because they knew that the credit rating agencies' growth in EPS was coming from the rating of mortgage-backed bonds. Eventually, these mortgage-backed bonds became suspect and the beginning of the end of the bubble was in sight when credit default swaps came on the scene.

So, don't be so quick to blame people for making liar loans if the originators were pushing people to buy homes they knew they could not afford. Regulations need to be put in place to discourage greed. Jail is where these greedy SOB need to go.

Stay tuned.

Wood Icon Project: Progress Report

2011-12-17T10:04:00.003-05:00

I have been dividing my time between picking up and delivering Ski Cincinnati apparel and working on my wood icon project. I have now painted the primer coat and the red oxide onto the frame. The center panel has received a coat of gesso. The frame has been painted with Golden's acrylic gold liquid paint. There is more to be done with the frame after the center panel is finished. The drawing for the center panel is not complete as I have more to add. But, since this Saturday and Saturday is for Art, I thought I would post another progress report. What else does an old artist have to do?

Have a safe and great weekend.

Mother & Child in Tabernacle Frame by F.D. Zigler, 25" x 25" x 3" wood and acrylic paint, 2011.

A Progress Report: Wood Icon Project

2011-12-15T08:10:00.005-05:00

This is a progress report on the wood icon project. This is a much smaller piece than The Altarpiece I constructed earlier this year. Actually, it feels like I made the piece last year, as I started it last winter. When it came time to enter the piece in The Golden Ticket Art Show at the Clifton Cultural Arts Center, I was told it was too big. There was a weight limit of 20 pounds and a square footage limit of 9 square feet. Whether The Altarpiece was rejected because it weighed too much, or, the judges did not think it was worthy of being accepted, I really don't know. So, the piece I am working on now is within the 9 square feet limit and weighs much less than 20 pounds. If they reduce the weight limit, I will just drill holes in the back and remove the excess weigh that way. This wood icon may be rejected, but it will definitely be within the legal limits of the exhibit. The wood structure is now covered in white primer paint. My next step is to give it a coat or two of gesso. Then the undercoat of red followed by the acrylic gold. After the wood structure is nearly completed, I will then paint the center panel. After the center panel is completed, it will be time to detail the wood frame. I have to confess that as I get to the end of a project that I am enjoying, I slow down. It is like getting to the end of a good book and you know there are only a few pages left and you wish it would not end so soon.

Wood Icon Project by F.D. Zigler, 25" x 25" x 3", wood and primer (work in progress)

This post is sponsored by Ski Cincinnati apparel which makes nice inexpensive gifts for all holidays year round.

Saturday Is For Art: A Wood Piece In Progress

2011-12-10T08:26:00.004-05:00

Here is a wood piece that I am working on and is in progress. If I get some nice weather Sunday I might be able to get a lot done. I don't know what it is going to look like until it is finished as I have no drawings and I am just doing it as I go. Try something and see how it looks, then glue and nail, and then move on to the next step is how I work.

The MacKenzie-Child Flag is also a work in progress and it may change quite a bit from the way it appears now. I posted an earlier photo of this piece last week, so it has changed a little.

Have a safe weekend.

This post is sponsored by SKI CINCINNATI apparel. SKI CINCINNATI t-shirts, long sleeve t-shirts and hooded sweatshirts "hoodies", baseball caps and coffee mugs can be found at Aquarius Star Cafe in Clifton on Ludlow; BENCHMARK OUTFITTERS in Blue Ash; Cincinnati Art Museum gift shop in Eden Park, Cincinnati Museum Center at Union Terminal, Contemporary Arts Center at 6th & Walnut Sts. and Joseph-Beth Bookstore in Rookwood Pavilion. These quality items make great gifts for the holidays!

Saturday Is For Art: A New Flag

2011-12-03T09:37:00.003-05:00

This piece is my latest work and it is a work in progress like me. Can anyone guess what designer inspired this piece? I got the idea for the painting during Thanksgiving, and thought I would give it a try. Who knows perhaps someone will like it. I will continue to paint next week. If the weather gets into the high 50s today, I hope to hook up my table saw and work on a wood icon for next year's Golden Ticket art show. I have scrounged some pieces of wood from my favorite lumberyard, and will get sawing later in the afternoon. I hope everyone has a nice and safe weekend.

A Little Splash of Colors

2011-11-26T09:19:00.002-05:00

This is a photo I took in San Francisco in September 2009. Someday I might try to paint this photo, but for now I have other ideas that I would rather give a shot. Don't forget about my SKI CINCINNATI t-shirts and hoodies that are for sale around Cincinnati as they make nice inexpensive gifts for young and old. Check out my earlier posts where SKI CINCINNATI apparel can be purchased. Also, if you are interested in buying a piece of original art, there is the Collector's Art Group gallery at 225 East 6th Street in downtown Cincinnati on the 2nd floor. I have a few small pieces hanging up down there.

Have a safe and enjoyable weekend.

Occupy Wall Street Is A Cry For Help & Not Much More

2011-11-25T10:27:00.004-05:00

To say that I am not happy with what passes as political debate in our country is an understatement. Each of us that does not have the millions of dollars to throw at our politicians to get the tax breaks like the upper one tenth of one percent, are feeling pretty helpless. Yes, we can vote, but what are our choices?

Even President Obama knows that he needs money from the big givers to win re-election, and that means Wall Street money is a must to win. So, given that even the most liberal man in the race takes huge contributions from Wall Street bankers, where does this leave the rest of us? Occupying Wall Street is a cry for help and nothing much more. People with no money can't bring about change when corporate money can drown out any appeal to fairness like in the level playing field.

So, what do we do? I am going to vote for Obama again even though I know I am not happy with his willingness to cater to the fat cats on Wall Street and the money they contribute to his re-election.

Perhaps after the GOP loses in 2012, the country can get moving again. Their platform is beat Obama in 2012 and make him a one term president. What kind of platform is that? Well, it isn't going to happen! The GOP does not have a candidate that can beat Obama now or in November 2012. What the GOP has displayed in the many TV debates is a party that is dysfunctional. And, it is my opinion that their many debates have only shown just how dysfunctional the GOP today is.

Change does not come about easily because those that pay for the tune don't give up their place in line when favorable treatment is handed out. Personally, I would like to see financial reform happen and be enforced, but with Wall Street paying for the tune, those changes are not going to happen right away.

Stay tuned.

3 Paintings For Sale By F.D. Zigler

2011-11-24T10:20:00.004-05:00

I have 3 new paintings for sale at Collector's Art Group, 225 East 6th Street, Cincinnati, OH on the 2nd floor. They are in acrylic on canvas board and were painted in 2011. These pieces are rather small in size. They will be in the Holiday Art Show.

Happy Thanksgiving 2011

2011-11-23T09:15:00.003-05:00

I just want to wish everyone a safe and Happy Thanksgiving. This has been a difficult year for many Americans. The sad part of this difficult year is that the difficulties they have faced in some cases came at no fault of their own. Yes, they were victims of a system that in essence cut their legs out from under them. Not all of us are smart and wealthy, some of us just have a job and try to keep a roof over our head and food on the kitchen table for our families. So this year, when you sit down to your Thanksgiving feast, take a second to remember that there are many less fortunate and that the playing field in this country is less than level for many that don't have the smarts to rise above and become part of the one percent or even the top two percent. For those greedy bastards that caused the financial crisis and walked away untouched and unmoved, I hope you choke.

Stay tuned.

Sunflowers in Vase by F.D. Zigler, Great American Artist, now on sale at Collector's Art Group along with others great paintings by F.D. Zigler.

Europe's Problems Are More Than Europe's Problem

2011-11-21T09:46:00.006-05:00

I wish I could offer something positive about the events unfolding in Europe and here in the United States as it pertains to governments dealing with their debts. I am not going to pretend to know a lot about what is happening in Europe, but it is quite obvious that getting one country, Greece, to do what is right by other European countries is not so easy and may not happen. Who should get the blame for Greece's problems? The people? The politicians? Goldman Sachs and the politicians that put them in the situation they find themselves? The bigger problem is that Greece's problems are now Europe's problem, and Europe's problems are our problem in the United States because all of our economies are connected. Forget for a moment that our Congress can't agree on how to trim the deficit and reduce the debt. Europe's problems are more than Europe's problem.

Stay Tuned.

Saturday Is For Art: A New Butterfly & Old Butterfly

2011-11-19T10:04:00.012-05:00

This little butterfly (top) came out of playing with a few different shapes for a Butterfly Flag. The original idea and design goes back to the mid 1990s when I made and gave a paper sculpture of the butterfly flag for a fund raiser at the Carnegie Arts Center. I even put one on a t-shirt. I wore my butterfly design t-shirt and I still do, but I guess not too many men would wear a butterfly on the front of their t-shirt. One of my favorite books is titled Papillon and was even made into a movie in 1973. Steve McQueen played the part of Henri Charriere, who at the age of 17 was convicted of murder in France and sent to the French Penal Colony known as Devil's Island. Charriere got the nickname Papillon because of the butterfly tattoo on his chest. Since his death in 1973, there has been much debate about whether all of the escape attempts were by Charriere or were stories he heard while on Devil's Island. Either way, the butterfly represents to me freedom, just as a butterfly is free to travel. The Monarch butterfly migrates between Mexico and the United States without a green card or passport, but please do not infer that I support illegal immigration. As the grandson of four Russian Jewish grandparents, I feel very fortunate to have been born here, and with my passport and a few dollars I can leave and come back like the Monarch butterfly.

Everyone have a nice and safe weekend, and visit an art museum.

Top: Butterfly Flag by F.D. Zigler, acrylic on carboard, 2011.
Bottom: Butterfly Flag on t-shirt by F.D. Zigler, mid 1990s.

The War On Terror Is Unconventional Warfare

2011-11-14T09:32:00.006-05:00

Almost 50 years ago I studied American Diplomatic History at the University of Cincinnati. And, right after I graduated in 1964, President Johnson, after his election in November, 1964, took the war in Vietnam to a new level. Before January 1965, the troops in Vietnam were called advisers. I was in basic training when word came out that President Johnson was going to send the 157Th Airborne Brigade to Vietnam as a combat unit. Then U.S. Army sent the 1st Cavalry as an air-mobile division and the bigger war was on. I remember that I read anything I could get my hands on about the fighting in Vietnam and guerrilla warfare. There were even a few books that came out about fighting in Vietnam in the mid 1960s, and I read those too. A lot of good men died fighting in Vietnam and to this day I don't believe our fighting there had anything to do with the National Security of the United States. There were scholars on the history of Vietnam that said the Vietnamese in the North hated the Chinese probably more than they hated the Americans, but our government went ahead and committed men and money at a perceived problem that in reality never existed. I know those are pretty harsh words to say. In 1964, I thought that we could win in Vietnam. I even volunteered to serve there, but the army in their infinite wisdom sent me to Korea.

Today the world is fighting a very different kind of threat. It is not a war in the conventional sense where two great armies meet on a battlefield. The world is the battlefield and their are no great armies. The new "war" is terror, and that is going to be the most difficult kind of war to fight. If we stop terrorist attacks 99 times, but fail to stop them on the 100th time, we lose. This is a type of war that is going to require the very best we have. Foreign aid and building relationships is just a piece of the puzzle to keep us safe. We will win the war on terror by being smarter, not by being louder.

Stay tuned.

Ski Cincinnati Apparel Time Is HERE!!!!

2011-11-13T08:28:00.005-05:00

Holiday shoppers:

Ski Cincinnati apparel is back for the winter and ski season!

Aquarius Star Cafe on Ludlow Avenue, Clifton Business District across from Graeter's

Benchmark Outfitter on 9525 Kenwood Rd. in Blue Ash, OH

Cincinnati Museum Center gift shop at Union Terminal in Cincinnati

Contemporary Arts Center gift shop at 6th & Walnut Sts. in Cincinnati

Joseph-Beth Bookstore in the Rookwood Pavilion off Edwards Rd at 2692 Madison Rd in Cincinnati

We thank you for your support of our products.

Fred Zigler,
Creative Director of Ski Cincinnati

Saturday Is For Art: 3 Paintings By Simeon Zigler

2011-11-12T08:52:00.005-05:00

I don't remember whether I posted these three watercolor paintings before, but if I have, they are worth seeing again. It is nice that I can use my father's art work to cover for me when I don't have any of my own new artwork to post. I don't think my father would mind sharing my blog with me. While I am not as accomplished a painter as he was, I nevertheless put an honest effort to create a piece that might cause people to stop, consider and think about what moved me to paint that picture. As someone who has enjoyed studying history, I have always been interested in the ways we express ourselves outside of the written word. Art and music are just two forms that come to mind that speaks to the human condition without using a spoken language.

Everyone have a safe and happy weekend.

11/11/11

2011-11-11T09:55:00.003-05:00

I know some people are making a lot of the date today. While it is only November 11, 2011, the numerical date can be written 11/11/11. Six ones! What is so special about that? Next year we will have December 12, 2012 and that numerical date will be written 12/12/12.

I remember sitting in 7th grade math and the teacher Mister Freese said today is 5/5/55, and the next time this will happen will be 6/6/66. So, when 6/6/66 came around, I thought of my old math teacher and track coach Ollie Freese. I was in Korea on June 6, 1966 working at 8th Army Headquarters, and I was probably reading The Stars & Stripes newspaper. I will not bore you with where I was on 7/7/77, or 8/8/88, or 9/9/99, but if you ask me where I was I can tell you where I was working then.

You see people that work with bonds have a thing for remembering dates. A bond and a bond transaction has several dates. First, there is the Trade Date, then there is the Settlement Date, next there is the Maturity Date of the bond and Dated Date of the bond. After that there is the First Interest Payment Date, and then there might even be a Call Date that the bond can be called before its maturity date.

But the important thing to remember is that today is Veteran's Day! Take a moment to remember all those men and women that served our country in uniform, and be appreciative that they did!

Stay tuned.

American Flag Makes The Scene by F.D. Zigler, oil and enamel on board.

The Wall Street Game Has Been Rigged, And Not In Your Favor

2011-11-09T08:32:00.008-05:00

Capitalism: A Love Story by Michael Moore is a film everyone should see and think about. Much of it was not new to me as I know about much of what is covered in the movie. I spent a number of years working with investment securities, traders, and portfolio managers for equities foreign and domestic, fixed income, hedge funds and private equity funds. I have followed the ups and downs of the markets and interest rates for many years. Michael Moore is entertaining and at times even funny, but the message he is trying to get across is very serious.

Everyone wants to be a winner. No one enters the markets to lose money. But, winning all the time is almost impossible. What some people have tried to do to win all the time is modify the rules or flat out cheat. The Federal Government was lobbied hard to modify the securities laws that helped our country avoid a serious financial crisis since the Great Depression. Laws were written in the 1930s to create the Securities & Exchange Commission and in 1940 the Investment Act to deal with mutual funds. Over the next 70 or so years Wall Street bankers have lobbied Congress that the old laws were no longer needed. Several members of Congress bought their story and even some took money and went to work for the banks after leaving government.

Those that did not try to change the laws that governed banking and the securities industry decided to cheat. Cheating by insider trading was just one of several ways that the cheaters cheated. Ponzi funds, like Bernie Madoff, was another form of cheating. Then there were those less understood methods such as "buying" a credit rating that was clearing not deserved. There are other ways to cheat, but they are too complicated to explain for our purposes here today, but they exist.

There is way too much closeness between the bankers on Wall Street and the people in the Federal Government that are charged with protecting investors, both institutional and individual, from fraud in the securities industry. Something needs to be done to correct this problem that clearly exists. But, nothing will be done until enough people understand that they have been cheated. There are those that cheated by going outside the laws and there are those that "cheated" by changing the laws that protected investors for over 70 years. Nothing is going to be changed by either Democrats or Republicans until the public understands that the Wall Street game has been rigged and not in their favor.

Stay tuned.

Level Playing Field Out The Window by F.D. Zigler, acrylics on paper envelope. This piece of political satire is framed and for sale for $850.

Election Day 2011

2011-11-08T07:21:00.003-05:00

Remember to vote!

As a citizen, it is your responsibility to vote. Naturally, I hope you vote the way I vote. As I am a flaming Liberal and believe in trying to create a level playing field for all people, I vote . I believe in capitalism, but I don't support crony capitalism. I believe that government has a role to play to prevent unscrupulous people from selling products or services that are harmful or injurious to adults and children. I support people's right to bargain collectively. I believe that women have the right to decide what happens to their bodies and that it is between them and their doctor, and it is not any business of the federal government. I believe that all children should have an opportunity for health care and a good education so they can grow up to be strong good citizens and productive adults that help our society strive for a better life for all.

Stay tuned.

Beware Greeks Accepting Gifts?

2011-11-02T09:19:00.004-04:00

Beware of Greece accepting a gift? Yes, beware of the Greek Prime Minister accepting a deal from France and Germany and then going home and asking for a vote on the deal that was agreed upon.

I don't know anything about the politics of Greece, but I do understand a little bit about bonds and debt service. The deal that was offered to Greece was a 50% "haircut" that those holding Greek bonds would take in exchange for Greece receiving financial assistance. There is a difference between finance, paying off your debts, and politics which is an entirely different ball game.

This latest move by the Prime Minister of Greece has created a great deal of uncertainty at a time when uncertainty is the last thing the world capital markets need. Capital markets around the world are going to suffer because of the vote purposed by the Prime Minister of Greece.

I sure hope that the vote can be done quickly and that the Greek people will accept the bailout. There are other weak countries hanging in the balance, and the last thing the world economy needs is a collapse of the capital markets.

I find it interesting how one relatively small country can cause so much damage to the world's economy and world confidence in the capital markets. I think someone needs to build a better financial system. The Euro is not working if Greece can take down not just Greece, but several other European countries as well. Cheating in any system of currencies will eventually fail. The Euro is about ready to go down for the count.

Stay tuned.

Somali Pirates Replace Goldman Sachs On Greek Bonds

2011-11-01T09:02:00.004-04:00

NEWS FLASH!!!!

It has been learned that the Somali Pirates have been hired to replace Goldman Sachs as underwriters of Greece's next debt issue. Greece is still under considerable pressure to find a way out of its huge debt service on outstanding Greek Bonds, and has decided to take a new course of action. Details have not been announced by the Greek government or the Somali Pirates as to how this will work, but at this point any ship in the sea is worth a look. No word from GS on how they are taking the news about being replaced by pirates.

Stay tuned.

Happy Halloween 2011: 3 Masks

2011-10-31T09:13:00.003-04:00

Here is something I was playing with a few years ago when I was working at the Contemporary Arts Center. While working on the 6th floor in the UNMUSEUM, I had time to make this little mask (the center mask). Then I made copies and created 3 Masks. I think it works best here for Halloween.

Happy Halloween to everyone and please watch for children running across the street.

Stay tuned.

3 Masks by F.D. Zigler

60 Minutes Tonight I Will Not Watch

2011-10-30T10:57:00.006-04:00

Today 60 Minutes that airs on CBS will have as one of its subjects an interview with Madoff's wife and son. I will not watch 60 Minutes this Sunday and this is why.

My personal opinion is that it is a joke to give Bernie Madoff a 150 year prison sentence. In my opinion, Bernie Madoff should have been executed for what he did. Interviews with Bernie Madoff, his wife and his son are not worth my time. This man ruined hundreds and perhaps thousands of lives by destroying their financial security. In today's world that is like giving someone a death sentence. To glorify this man Bernie Madoff is sick TV reporting. He is a criminal and deserves to be treated like the criminal that he is. Parading him on TV , or his family members, as if they are celebrities makes the wrong statement in my opinion. And, it is because the media continues to hold him up to the public as someone of interest that I believe he should have been executed for destroying the lives of so many. Madoff brags how well he is treated in prison and even has the nerve to say he is safer in prison than on the streets of New York City.

People like Madoff will continue to destroy peoples' financial lives and security as long as they know they don't have to pay with their life. Once our society analyzes the problem and comes to the conclusion that behavior like Madoff's can not be tolerated in our society, perhaps then a fitting punishment will be handed out. For Bernie Madoff to live the rest of his life at the expense of the society he devastated is hardly, in my mind, the right punishment.

So, while I usually watch 60 Minutes and have enjoyed their stories over the many years, I will not watch this program tonight. And, that is my opinion.

Saturday Is For Art: Si Zigler's Art Exhibit 2011

2011-10-29T09:10:00.005-04:00

Monday I am taking down my father's art exhibit at HUC-JIR. I am happy I had the opportunity to do the exhibit, and I want to thank everyone at HUC-JIR.

For more than 40 years, I have thought about doing an exhibit of my father's art work. Sam Hollingsworth and I were having lunch one day in January of this year at Park Chili in Northside, and I remarked to him that my father would have been 100 years old this year had he lived. I went on to say that I have wanted to have an exhibit of my father's art work, but wanted a place that would be safe and would protect the paintings. Sam came up with the idea to contact Rabbi Zola, who he knew, and from there we contacted Dr. Jonathan Cohen at HUC-JIR.

The Opening of the exhibit on Sunday, June 26, 2011 was only four days shy of what would have been Si's 100th birthday. The art show was his first solo art exhibit, and was attended by both of my brothers and many of my cousins that knew him. One thing I learned from our discussions with Dr. Cohen about some of the pieces is that Si Zigler had a greater and deeper knowledge of Jewish culture and religion than I ever knew. Yes, he could read and understand Yiddish, but I never knew that his knowledge of Hebrew may have been as equally developed. Here was a man that said little about his knowledge of Judaism, but expressed a greater knowledge through his art work than I ever realized.

My cousin Toby and I hope to produce a short video of the exhibit and share it with other Jewish museums around the country. Perhaps there are other cities that might like to enjoy Si Zigler's art work.

Simeon Zigler, self portrait, on paper.

The Fiddler, watercolor on paper by Si Zigler.

Goldman Sachs: A Cancer?

2011-10-27T09:07:00.004-04:00

The big news today is that a deal was reached in Europe to work through the debt of Greece. If Greece had gone down the tube, Greece would probably have taken other European countries down with them. But, which American Wall Street banker helped put Greece in the position they found themselves in? Can you say Goldman Sachs? Below is an article that gives you a picture in words just what Goldman Sachs did to "help" Greece with their finances.

Goldman Sachs may have helped fool Greek bond buyers
Submitted by cpowell on Wed, 2010-02-17 13:32. Section: Daily Dispatches
By Elisa Martinuzzi
Bloomberg News
Wednesday, February 17, 2010

http://www.bloomberg.com/apps/news?pid=20601087&sid=asBNXSLtlN9E&pos=1

Goldman Sachs Group Inc. managed $15 billion of bond sales for Greece after arranging a currency swap that allowed the government to hide the extent of its deficit.

No mention was made of the swap in sales documents for the securities in at least six of the 10 sales the bank arranged for Greece since the transaction, according to a review of the prospectuses by Bloomberg. The New York-based firm helped Greece raise $1 billion of off-balance-sheet funding in 2002 through the swap, which European Union regulators said they knew nothing about until recent days.

Failing to disclose the swap may have allowed Goldman, a co-lead manager on many of the sales, other underwriters, and Greece to get a better price for the securities, said Bill Blain, co-head of fixed income at Matrix Corporate Capital LLP, a London-based broker and fund manager.

"The price of bonds should reflect the reality of Greece's finances," Blain said. "If a bank was selling them to investors on the basis of publicly available information, and they were aware that information was incorrect, then investors have been fooled."

Michael DuVally, a spokesman at Goldman Sachs in New York, declined to comment.

Goldman Sachs, Wall Street's most profitable securities firm, is being criticized by European politicians, including Germany's ruling Christian Democrats, who have questioned whether the firm helped Greece hide its deficit to comply with the currency's membership criteria. Greece is also being faulted by fellow euro-region countries for failing to disclose the swaps to EU regulators.

The swaps used by Greece to manage debt were "at the time legal," Greek Finance Minister George Papaconstantinou said on Feb. 15. The government doesn't use the swaps now, he said.

Eurostat, the EU's statistics office, this week ordered Greece to hand over information on the swaps transactions by the end of this week in an investigation that may extend to other EU countries.

Goldman Sachs earned about 735 million euros ($1 billion) underwriting Greek government bonds since 2002, data compiled by Bloomberg show. Goldman Sachs underwrote 10 bond sales. Prospectuses for six of them, obtained by Bloomberg, contain no mention of the swaps. The other four couldn't be obtained.

The yield on Greek 10-year government bonds jumped to as much as 7.2 percent on Jan. 28 amid the worst crisis in the euro's 11-year history. The premium, or spread, investors demand to hold Greek 10-year notes instead of German bunds, Europe's benchmark government securities, widened yesterday by 18 basis points to 323 basis points.

The spread reached 396 basis points last month, the most since the year before the euro’s debut in 1999, compared with an average of 57 basis points in the past decade. A basis point is 0.01 percentage point.

"When people start to fear that the numbers aren't accurate, they fear the worst," said Simon Johnson, a former International Monetary Fund chief economist who is now a professor at the Massachusetts Institute of Technology's Sloan School of Management in Cambridge, Massachusetts.

Goldman could face legal liability "if it could be established that they were knowingly hiding risk, and therefore knew or had reason to know that the bond disclosure documents were misleading," said Thomas Hazen, a law professor at the University of North Carolina at Chapel Hill. "But that would be a tough hill to climb, in terms of burden of proof. There'd have to be some sort of smoking-gun memo."

The swap enabled Greece to improve its budget and deficit and meet a target needed to remain within the region’s single currency. Knowledge of their existence may have changed investors' perception of the risk associated with Greece, and the price they may have been willing to pay for the country's securities.

"From what we know, this is an egregious example of a conflict of interest" for Goldman Sachs, MIT's Johnson said. "Even if the deal had been authorized, it doesn't let them off the hook."

A Greek government inquiry this month identified a series of swaps agreements with securities firms that allowed the country to hide its mounting deficit. Greece used the swaps to defer interest payments, causing "long-term damage" to the Greek state, according to the Feb. 1 document, commissioned by the Finance Ministry.

European Union officials said this week they only recently became aware of the transaction with Goldman. The swaps don't necessarily break EU rules, European Commission spokesman Amadeu Altafaj told reporters in Brussels on Feb. 15.

The transaction with Goldman consisted of a cross-currency swap of about $10 billion of debt issued by Greece in dollars and yen, according to Christoforos Sardelis, head of Greece’s Public Debt Management Agency at the time.

That was swapped into euros using a historical exchange rate, a mechanism that implied a reduction in debt and generated about $1 billion in an up-front payment from Goldman to Greece, Sardelis said. He declined to give specifics on how the swap affected the country's deficit or debt.

European politicians such as Luxembourg Treasury Minister Jean-Claude Juncker this week criticized Goldman Sachs for arranging the Greek swap and are pressing the firm and Greece for more disclosure. Chancellor Angela Merkel’s Christian Democrats aim to push for new rules that will force euro-region nations and banks to disclose bond swaps that have an impact on public finances, financial affairs spokesman Michael Meister said.

"Investment banks are guilty of being part of a wider collusion that fudged the numbers to make the euro look like a working currency union," said Matrix's Blain. "The bottom line is foreign exchange and bond investors bought something sellers knew not to be the case."

Does this mean everyone that works at Goldman Sachs is bad? No! But, Goldman Sachs has some bad people that should not be advising people, countries or dogs.

Stay tuned.

Infotainment?

2011-10-24T09:16:00.004-04:00

Infotainment
television programming that presents information (such as news) in a way that is meant to be entertaining

Infotainment is my new word for today. Everyday I receive an email with a word and its definition. Some of the words I already know, and some are completely new to me. But, this word infotainment is one of those new words that brings together two old words information and entertainment. So now we have something called infotainment, and that pretty much sums up many peoples' opinion of TV news. Some have even referred to it as sugarcoated news. Now FOX news is a whole different story. To be completely honest, I don't watch FOX news. The little bits and pieces that I see from time to time leaves me with the idea that primary and secondary sources of information, and opinions in the studio, are one in the same.

Now this infotainment word I think could be used also to describe some of my political satire artwork. Given my limited artistic abilities, my artwork that is suppose to carry a message and at the same time be atheistically pleasing perhaps falls short. While I give it my best effort, my limited ability to take an idea in my head and put it on paper or canvas sometimes does not live up to my expectations. But, I just chalk those up and move on to the next idea. Not every idea for a piece of political satire strikes a cord with people. And, since I have had a ringing in my ears for the last 30 years, my perception of what is good political satire may be off key to some people. I am definitely in a liberal key, but I would like to think that the key that resonants with me most is the key of justice. Justice for all people, not just the wealthy and well connected.

Stay tuned.

Saturday Is For Art: Butterflies, A Heart & Superman

2011-10-22T09:58:00.007-04:00

A few words about making art.

First, I am not a trained artist. Painting is something I wanted to do, so I went to the public library and got books about painting and read them. At first I painted in oil, but that requires too much work when cleaning up, and oils take much longer to dry. Acrylics clean up with a little soap and water and they dry much quicker than oils. So, because of convenience, I decided to paint in acrylics for now. Maybe someday I will go back and paint in oils, but I haven't seen the need to as I like to paint on envelopes and acrylics work better when painting on paper. Twenty years ago I painted a series of 6 postage stamps on large pieces of paper (30x22) in oil, but I first had to cover both sides of the paper with gesso so the oil paint would not eat the paper fiber. Today, that seems like a lot work.

Second, I paint because I have something I want to say. I wasn't interested in painting the so called "pretty picture" for over the sofa. My interest in politics, economics and whatever else interests me has been the subject matter for my paintings. I have used symbols repeatedly in my paintings and I call them my icons. I have even painted my own icons. Some people like my paintings and others don't care for them. But, this is what I do. I try to paint what is on my mind.

The 3 paintings today I have done recently. Obama As Superman is now complete. I have already written a little about this piece in earlier postings (see below). The 6 butterflies are painted on a small envelope in acrylics. The Black heart & Butterfly is painted on a larger envelope in acrylics.

Have a nice and safe weekend.

The Concept of A Superman

2011-10-17T11:56:00.003-04:00

The concept of a Superman goes far back into our earliest written history and literature. Even in the United States, every four years, we elect someone that we want to be Superman. Is it possible for one man, regardless of his strong moral character and intellectual acumen to lead a nation of 300 million people? With people, each trying to avoid pain from several different sources, is it possible for one man, even as president to be responsible to correct everything that has been broken or is unfair, unjust or just plain wrong.

Is politics no more than a sport? Do the winners pay back their big financial supporters with special contracts, tax loopholes and a Christmas Party at the White House? Does it even make any difference who wins if the winners always take care of their financial backers first?

I don't have any answers, but I don't believe even a Superman can fix some of the messes we are in.

Stay tuned.

Obama As Superman: Why Not?

2011-10-14T08:17:00.004-04:00

This is Saturday's post. I am posting it on Friday since I might not remember to do it on Saturday. That doesn't have to make any sense because there are so many things today that don't make any sense that one more will not hurt anything.

"Obama As Superman: Why Not?" is just another piece of my political satire. The Superman comic book cover is from a 1942 issue No. 24. It is my opinion that everyone expects for this one man to turn our economy around in a very short time even though it took years for the bubble to burst. The mess that President Obama inherited can not be fixed in just a few short years. But, people for whatever reason will blame him for the mess we find ourselves after the financial system was given free reign for years. Even a black Superman can not fix our economy as fast as everyone would like. The economy must first process lots of waste before it can get moving towards full employment again.

This painting is not completed. I have a few more things to finish before it is done.

Obama As Superman, acrylic on canvas board, by F.D. Zigler 2011

Cincinnati: Comes From The Roman General Cincinnatus, But Our Roads Are Not Roman Roads

2011-10-13T12:17:00.008-04:00

Since so many people are protesting, I thought I would put in my 2 cents about the condition of the roads in Cincinnati. Perhaps I just drive on all the wrong roads! But the roads I drive on, their surfaces are just plain crap. Holes and uncalled for speed bumps make up so much of the surface, I wonder why anyone with a choice would want to locate in Cincinnati for a business. And, the expressways I-75 & I-71 are no better. Have you ever driven into Detroit from the south on I-75? Wow! Is that a nice concrete drive or what? Take a drive downtown on I-75 or I-71 and it is almost Third World. I drive Montana Avenue to go the YMCA on Montana & Cheviot Avenues and the surface of Montana Avenue is a mess. They fix things under the road, but when it comes to putting down a decent surface, it seems the technology has been lost. I sure hope someone is making some good money doing our roads because they don't deserve what they are being paid. How about some quality workmanship? Damn, the Romans made better roads 2,000 years ago!

Stay tuned.

Free Markets & Traffic Lights

2011-10-11T09:09:00.006-04:00

There is a lot of talk about free markets in our economic debates, but free markets doesn't mean that individual or institutional investors should be losers.

Not far from where I live is an intersection called Knowlton's Corner. The main road that leads downhill into Knowlton's Corner is a heavily trafficked 4 lane road called the Ludlow Viaduct. The Ludlow Viaduct brings a heavy stream of traffic down to this intersection where it is one of six roads that converge to form Knowlton's Corner. No traffic engineer or motorist would suggest that this intersection with 6 roads coming together from 6 different directions could function without traffic lights. Common sense would dictate that with 6 roads crossing a common space that some formal apparatus is necessary to help move the traffic without causing accidents and the possible loss of life.

Free markets need "traffic lights" too. Without rules there would be no markets because individual and institutional investors would not feel safe. The recent financial crisis demonstrates for me that free markets need regulations. For many years, the markets operated within a framework of regulations and people on both sides made money. When one side games the system, the resulting fallout not only destroys the trust of the investing public, but it also causes real economic dislocations that will take years to work out. The mortgage-bond meltdown has wrecked the housing market and has caused foreclosures and a decline in the housing market. This is the direct result of the housing bubble created by the fraudulent issuance of triple-A mortgage-backed bonds that in no way deserved the highest credit rating that was awarded to them by the three credit rating agencies.

Everyone wants the other guy to work hard for his money. Why would we want any less from those operating the capital markets?

Stay tuned.

Commander-in-Christian?

2011-10-10T09:52:00.003-04:00

Should a person's religion be a criteria for being president of the United States? Should the fact that Mitt Romney is of the Mormon faith be a factor as to whether he is qualified to be president? What if Mitt Romney was a Jew? Would he be any less qualified than he is as a Mormon?

I have listened to the Religious Right for over 25 years and I can't say I understand their fixation with a person's religion to hold political office. Back in the 1980s I listened as leaders of the Christian Right spoke about how you couldn't be a good American unless you were first a good Christian. Being Jewish, born to two Jewish parents and having four Jewish grandparents, I wondered why I couldn't be a good American regardless of my religion. I served my country for two years in the U.S. Army and spent a year in Korea. I thought of myself as a model citizen that voted, did volunteer work in my community, and helped my older neighbors when they needed a hand. I never spent a night in jail and at that time the most trouble I had gotten into was a speeding ticket. So, I asked myself, why couldn't I be a good American even if I wasn't a Christian? Eventually, I came around to putting together my own "Mother & Child", my own "religious icon", as I do not accept Jesus as my Lord and Savior, I needed to create something that was mine. The above painting in oil on board framed in a wood frame covered in gold metal leaf was my way of dealing with the question: Why can't I be a good American if I am not a Christian?

Mother & Child: An American Icon oil on board 72" x 48", 1988-92.

Too Big To Fail Is No Way To Run An Economy

2011-10-09T08:03:00.005-04:00

The capital markets have an important role to play in our economy. The movement of capital from individuals and institutions to corporations has permitted our economy to grow. Most of what the people on Wall Street do aids in building the nation and growing the economy. The problems begin when ethics are placed aside and greed for huge profits takes over. There were a number of regulations that were relaxed over the years by the congress that gave rise to the financial crisis of 2007-08. People with the responsibility for doing their job correctly were told that the profitability of their corporation came before doing the right thing. Regulations are needed. The laws that regulated the banks and the capital markets worked for several generations before they were removed or watered down. Greed is something that will always be a problem. Regulations, enforcement, accountability and transparency help to keep the game on the up and up. The capital markets provide a valuable service to the country when they are run on the up and up just like anything else that is run correctly can help grow the economy. The economy grew under the Glass-Steagall Act for generations, and it needs to be put in place again. Too big to fail is no way to run our economy.

No One Likes To Be Made A Mark

2011-10-08T11:50:00.005-04:00

No one likes to be made a mark. Whether you are buying a hot dog at a game or investing for your children's education or your own retirement, no one likes to be taken advantage of.

The investment securities business has a long history going back over 100 years. Brokers and investment bankers have sold the public worthless securities for generations. In the 19th century, stocks were sold, money was collected and pocketed and no railroads were built. After the Stock Market Crash of 1929, the Federal Government created the Securities & Exchange Commission (SEC) and Congress wrote laws aimed at protecting the public from fraud. The SEC did a fair job and a major financial fiasco was averted. But, Wall Street got greedy. Making money the honest way meant that you could not shoot fish in a barrel. In simple language, making a mark of someone became a lot harder to do.

But, money changed the rules as politicians were told that the old rules, the securities laws of the 1930s and 1940s, were no longer needed. Changes were made and more risk became the norm.

The final straw that lead to the financial crisis, in my opinion, was the breakdown and corruption of the credit rating agencies. To understand the importance of the lettered grade that the credit rating agencies gave to new issues is to understand how important the lettered grade on a bond issue was to the placement of the new issue by the sales people working on the desks of the investment bankers. Sales people as a rule knew very little about the credit behind any new bond issue. They knew the interest rate, maturity, re-offering price and finally they knew the lettered credit rating issued by the credit rating agency. Bottom line, the sales people that sold the mortgage-backed bonds knew just enough to sell their bonds and not much more.

When the credit rating agencies gave the mortgage-backed bond issues their triple-A credit rating, sales people included that key piece of information in their sales pitch. Unfortunately, many of the mortgage-backed bond issues that received the triple-A rating were not worthy of the rating.

Lots of people that never heard of a mortgage-backed bond got hurt by the credit rating fiasco. Pension funds and institutional buyers got killed when the house of cards fell.

As I said, no one like to be made a mark. Congress needs to learn that lesson as much as Wall Street bankers.

Saturday Is For Art: 2 Sunflowers In Vase

2011-10-08T08:27:00.003-04:00

I planted sunflower seeds again this year, but unfortunately, after I tore the tendon in my left leg, my garden of flowers were on their own. I finally got around to cutting the sunflowers down. I took 2 sunflowers and put them in a vase and a day later decided to take a photo of them. After looking at the photo, I decided that I would paint the sunflowers as part of a still life. The painting above is what I came out with. It is on canvas board in acrylics, but it is not finished. It is resting while I am doing another painting.

October Is Breast Cancer Awareness Month

2011-10-03T08:20:00.004-04:00

Squish a boob... save a life!

Pass it On!

Saturday Is For Art: October 1, 2011

2011-09-30T16:51:00.004-04:00

This piece I painted in 2010. The title is: Washington, D.C. - It is All Politics? The 4 paintings are in acrylic on MDO plywood and then glued and nailed into the wood window frame. I like to recycle old stuff especially old wood window frames. This piece is for sale at Aquarius Star Cafe on Ludlow Avenue in the neighborhood of Clifton just across the street from the Esquire Theater in Cincinnati, Ohio. Aquarius Star Cafe has Ski Cincinnati t-shirts - long sleeve too.

Everyone have a nice weekend. Go Bearcats!

Saturday Is For Art: 2 Paintings On Envelopes

2011-09-24T07:35:00.004-04:00

Two paintings on paper envelopes in acrylic, September, 2011.

You Can Not Push On A String

2011-09-21T12:13:00.004-04:00

The Federal Reserve Bank can use monetary policy to raise or lower interest rates, but they can't put more money in your pocket. If Saudi Arabia wanted to help our economy and the world's economy, they could sell more oil and bring down the cost of gasoline, diesel and jet fuel. This would leave more money in people's pockets to buy goods and services, and in so doing, raise demand. Greater demand leads to hiring and lower unemployment. The price of energy is cutting deeply into the consumer's ability to purchase the extra items they need or would like to have. The only thing that would make matters worse would be if water went up in price to the point where people would have to choose between water and gas. Economics may not be straight forward enough for everyone to understand, but it should be straight forward enough for the majority of the American people to understand that the price of energy in the 21st century has more to do with full employment than monetary policy can ever hope to. There is an old expression among people that work with interest rates and the capital markets (the bond market), "you can't push on a string." Interest rates can be dropped to next to nothing, but without demand, no one is going to borrow money. High energy prices is sucking demand for consumer durables and even consumer non-durables from our domestic economy. While infrastructure spending will put people to work on needed repairs and new structures, unless the cost of energy, spell that O-I-L, goes down in price, the demand will not sustain itself for very long. I am talking straight economics, not politics.

Stay tuned.

Towards A Sounder Domestic Economy

2011-09-20T12:25:00.010-04:00

There are a number of things that need to be fixed before the U.S. economy will move in the direction of full employment. But, with politics as a backdrop, the reality is quite different than what a group of economists could agree upon. Our domestic economy buys too much outside the United States. You can start with oil and work down from there. I have written about our dependency upon foreign oil and how oil is priced around the world in U.S. dollars and that coupled with the amount of merchandise we buy from countries like China, India etc., creates the economic situation where the United States is importing way more than it is exporting, and this has a negative effect on the value of the U.S. dollar. The "weaker" U.S. dollar is good for U.S. companies exporting their products or services, but a "weaker" U.S. dollar also means that oil prices will go up. While a barrel of oil is priced in U.S. dollars, oil exporting countries are not going to accept less for their oil when they convert those U.S. dollars into other stronger currencies. As a result, oil prices in U.S. dollars will continue to rise because the U.S. will not break its dependency on foreign oil. If the United States could convert to natural gas more, make affordable electric cars and produce more oil, perhaps the United States could begin to reduce the number of barrels of oil it is importing each year.

The policies of the last 66 years with regards to oil and our national security was never taken seriously and as a result, we find ourselves 66 years later using more foreign oil and importing far too many goods given the total dollar value of the goods that we export. Raising taxes for the wealthiest people in the United States may bring in more revenue, but it will not do anything to lower our dependency on foreign oil. Eliminating tax loopholes for corporations will not reduce the vast quantities of imported oil, but it may bring in more revenue.

The situation we find ourselves in, and given the political backdrop, will only make it more difficult for Americans to move towards full employment and a sounder domestic economy. These are the kind of big changes that need to be made to correct the weaknesses in our domestic economy.

Ski Cincinnati Apparel Time Is Coming

2011-09-19T11:49:00.003-04:00

It has been a few days since I have posted anything. I have nothing to say old or new at this moment. Just watching and listening and thinking about all the stuff that is going on. The cooler weather is coming soon and with it, Ski Cincinnati weather. Soon I will hopeful be filling orders for Ski Cincinnati apparel for a few local gift shops and stores. Saturday I will have a few new pieces of artwork to post. Everyone have a nice and safe week.

Stay tuned.

A Must Read For All People

2011-09-12T11:03:00.001-04:00

https://www.facebook.com/notes/arnie-taragin/finally-an-incredible-letter-written-by-a-non-jewish-scottish-professor-to-his-s/10150297015783610

Finally, an incredible letter written by a non - Jewish Scottish professor to his students who voted to boycott Israel.
by Arnie Taragin on Wednesday, August 31, 2011 at 3:02pm
Scottish boycott of Israel.
Finally, an incredible letter written by a non - Jewish Scottish professor to his students who voted to boycott Israel.
This is a MUST READ article that needs to be disseminated in every university. If you have children or grandchildren in university please make sure they publish this important letter in the students' rag or post it on the university bulletin board.
A Scottish professor responds to campus boycott. The Edinburgh Student's Association made a motion to
boycott all things Israeli since they claim Israel is under an apartheid regime. Dr. Denis Maceoin (a non-Jew) is an expert in Middle Eastern affairs. Here is his letter to those students. AN EDUCATED NON-JEWISH TAKE ON ISRAEL.
PLEASE READ IT.
Dr. Denis MacEoin, a senior editor of the Middle East Quarterly, addresses The Committee of the Edinburgh University Student Association.
Received by e-mail from the author, Dr. Denis MacEoin, a senior editor of the Middle East Quarterly,
TO: The Committee Edinburgh University Student Association. May I be permitted to say a few words to members of the EUSA? I am an Edinburgh graduate (MA 1975) who studied Persian, Arabic and Islamic History in Buccleuch Place under William Montgomery Watt and Laurence Elwell Sutton, two of Britain's great Middle East experts in their day.
I later went on to do a PhD at Cambridge and to teach Arabic and Islamic Studies at Newcastle University. Naturally, I am the author of several books and hundreds of articles in this field. I say all that to show that I am well informed in Middle Eastern affairs and that, for that reason, I am shocked and disheartened by the EUSA motion and vote.
I am shocked for a simple reason: there is not and has never been a system of apartheid in Israel. That is not my opinion, that is fact that can be tested against reality by any Edinburgh student, should he or she choose to visit Israel to see for themselves. Let me spell this out, since I have the impression that those members of EUSA who voted for this motion are absolutely clueless in matters concerning Israel, and that they are, in all likelihood, the victims of extremely biased propaganda coming from the anti-Israel lobby.
Being anti-Israel is not in itself objectionable. But I'm not talking about ordinary criticism of Israel. I'm speaking of a hatred that permits itself no boundaries in the lies and myths it pours out. Thus, Israel is repeatedly referred to as a "Nazi" state. In what sense is this true, even as a metaphor? Where are the Israeli concentration camps? The einzatsgruppen? The SS? The Nuremberg Laws? The Final Solution? None of these things nor anything remotely resembling them exists in Israel, precisely because the Jews, more than anyone on earth, understand what Nazism stood for.
It is claimed that there has been an Israeli Holocaust in Gaza (or elsewhere). Where? When? No honest historian would treat that claim with anything but the contempt it deserves. But calling Jews Nazis and saying they have committed a Holocaust is as basic a way to subvert historical fact as anything I can think of.
Likewise apartheid. For apartheid to exist, there would have to be a situation that closely resembled how things were in South Africa under the apartheid regime. Unfortunately for those who believe this, a weekend in any part of Israel would be enough to show how ridiculous the claim is.
That a body of university students actually fell for this and voted on it is a sad comment on the state of modern education. The most obvious focus for apartheid would be the country's 20% Arab population. Under Israeli law, Arab Israelis have exactly the same rights as Jews or anyone else; Muslims have the same rights as Jews or Christians; Baha'is, severely persecuted in Iran, flourish in Israel, where they have their world center; Ahmadi Muslims, severely persecuted in Pakistan and elsewhere, are kept safe by Israel; the holy places of all religions are protected under a specific Israeli law. Arabs form 20% of the university population (an exact echo of their percentage in the general population). In Iran, the Bahai's (the largest religious minority) are forbidden to study in any university or to run their own universities: why aren't your members boycotting Iran? Arabs in Israel can go anywhere they want, unlike blacks in apartheid South Africa. They use public transport, they eat in restaurants, they go to swimming pools, they use libraries, they go to cinemas alongside Jews - something no blacks were able to do in South Africa.
Israeli hospitals not only treat Jews and Arabs, they also treat Palestinians from Gaza or the West Bank. On the same wards, in the same operating theatres.
In Israel, women have the same rights as men: there is no gender apartheid. Gay men and women face no restrictions, and Palestinian gays often escape into Israel, knowing they may be killed at home.
It seems bizarre to me that LGBT groups call for a boycott of Israel and say nothing about countries like Iran, where gay men are hanged or stoned to death. That illustrates a mindset that beggars belief.
Intelligent students thinking it's better to be silent about regimes that kill gay people, but good to condemn the only country in the Middle East that rescues and protects gay people. Is that supposed to be a sick joke?
University is supposed to be about learning to use your brain, to think rationally, to examine evidence, to reach conclusions based on solid evidence, to compare sources, to weigh up one view against one or more others. If the best Edinburgh can now produce are students who have no idea how to do any of these things, then the future is bleak.
I do not object to well-documented criticism of Israel. I do object when supposedly intelligent people single the Jewish state out above states that are horrific in their treatment of their populations. We are going through the biggest upheaval in the Middle East since the 7th and 8th centuries, and it's clear that Arabs and Iranians are rebelling against terrifying regimes that fight back by killing their own citizens.
Israeli citizens, Jews and Arabs alike, do not rebel (though they are free to protest). Yet Edinburgh students mount no demonstrations and call for no boycotts against Libya, Bahrain, Saudi Arabia, Yemen, and Iran. They prefer to make false accusations against one of the world's freest countries, the only country in the Middle East that has taken in Darfur refugees, the only country in the Middle East that gives refuge
to gay men and women, the only country in the Middle East that protects the Bahai's.... Need I go on?
The imbalance is perceptible, and it sheds no credit on anyone who voted for this boycott. I ask you to show some common sense. Get information from the Israeli embassy. Ask for some speakers. Listen to more than one side. Do not make your minds up until you have given a fair hearing to both parties. You have a duty to your students, and that is to protect them from one-sided argument.
They are not at university to be propagandized. And they are certainly not there to be tricked into anti-Semitism by punishing one country among all the countries of the world, which happens to be the only Jewish state. If there had been a single Jewish state in the 1930's (which, sadly, there was not), don't you think Adolf Hitler would have decided to boycott it?
Your generation has a duty to ensure that the perennial racism of anti-Semitism never sets down roots among you. Today, however, there are clear signs that it has done so and is putting down more. You have a chance to avert a very great evil, simply by using reason and a sense of fair play. Please tell me that this makes sense. I have given you some of the evidence. It's up to you to find out more.
Yours sincerely,Denis MacEoin

9-11: A Day We Will All Remember

2011-09-11T00:32:00.002-04:00

9-11 is a day we will all remember for the rest of our lives, especially those of us who were alive on that day.

Perhaps it was just as well George W. Bush was President, because if I had been President things might have been very different. First, no Saudi nationals would have been permitted to leave the United States until I personally read each and every FBI report on every Saudi national that would be interviewed by the FBI following the 9-11 attack. In that 15 of the 19 terrorists were Saudi nationals, I would have informed the Saudi ambassador to the United States that the government of Saudi Arabia's cooperation into the investigation is of paramount importance, and if we did not receive their complete and full cooperation, that a state of war against Saudi Arabia could be declared. Saudi Arabia would also be asked to show their good faith by offering to assume financial liability for all deaths and damages done to properties in the United States as a result of the terrorist attacks.

Second, I would not have looked for an excuse to go to war with Iraq. It is my opinion, that the Bush administration went to war against Iraq to divert the country's attention away from Saudi Arabia, the home of 15 of the 19 terrorists. With pressure brought to bare on Saudi Arabia, the act of financially supporting terrorists by Saudi citizens would be further investigated by the FBI.

Taking such actions might strain the relationship between the United States and Saudi Arabia, but their kingdom would know that the United States will not tolerate another attack.

Remembering 9-11 Ten Years Later

2011-09-09T08:08:00.004-04:00

Ten years ago I was in Washington, D.C. on the morning of 9-11-2001. I was attending an annual meeting of a private equity fund that OBWC had invested. I was sitting in a large conference room in the basement of the Ritz Carlton Hotel when two screens came on showing the first of the World Trader Center Towers that was hit. I sat there and watched as the second plane crashed into the second tower. Within a few minutes the screens showed the local news coverage of the plane that hit the Pentagon just a few miles away from the hotel. That single day changed everything in the United States when it came to how secure we felt in our own country.

The above 2 paintings are to be viewed as a single painting, a vertical diptych. The 2 paintings just came to me as I just sat down one morning and painted these 2 pieces earlier this week. I read an article in the Sunday New York Times about the architect of the 9-11 Memorial and I was inspired by the simplicity of his sketch that was included with the article. At some point, I will have these 2 pieces framed together to express my remembrance of that morning that changed our country, September 11, 2001.

Remembering 9-11: A Tribute, acrylics on paper envelopes, 9-2011.

Labor Day 2011

2011-09-05T09:21:00.004-04:00

Twenty Eleven has been a year of hardship for millions of people and families that are out of work. Millions of people want to work, but no jobs are available, and yet there are politicians that would rather defeat President Obama in 2012, than to bring forth a jobs program directed at rebuilding the infrastructure of the United States. Such callousness in the face of the pain that millions of out-of-work workers are enduring is difficult to understand. Given the natural disasters that have hit the country in recent weeks, perhaps there will be an overwhelming awakening to the need to build and repair infrastructure that is directly related to the well being of the nation.

Stay tuned.

Saturday Is For Art: A Self Portrait for The Envelope Collection

2011-09-03T09:00:00.005-04:00

My first commemorative postage stamps were painted before 1992, probably around 1990 and 1991. They were done on paper that measured 30" by 22", and they were painted in oil after I covered both sides of the Stonehedge sheets with healthy coat of gesso. So, now 20 years later I decided it was time to put myself on one of my commemorative postage stamps. No one thinks I am a Great American Artist, so I thought people need to know this even if my political satire paintings are on occasion rejected by the all powerful judges of the juried art shows that I submit my work. This portrait in part is painted from left over paint from other projects that I was working. Those who really know me will understand how this fits perfectly into who I am. Below the self portrait stamp of F.D. ZIGLER are a few of my favorite commemorative postage stamps.

Everyone have a safe and fun holiday weekend.

Stay tuned.

History, Lies And The Attacks Upon Science: Where Is This Leading?

2011-08-31T08:10:00.005-04:00

Long before I knew anything about municipal bonds, the Fed or the capital markets, I was interested in world history. For some reason, I was curious about the past. When I was only 8 or 9 years old, I would ask my father questions about the history of humankind. Perhaps some of my interest may have been sparked by the adventure movies I would see on Saturday afternoons at the Forest Theater. By June 1950, the United States was involved in a war on the Korean peninsula. I knew from the bubble gum cards that I bought and LIFE magazine's photographs that the United States was not the only country fighting against the North Koreans and the Chinese. I didn't understand why it was not called World War III as so many other countries were helping us battle the enemy. Years later, I was stationed in Korea and had the opportunity to see where we were fighting and learn more about what became known as the Korean War or Korean Conflict.

But today, 45 years later, from the time I left Korea, American history and the facts of American history are under attack. I am not talking about the interpretation of the facts. Simple things like dates and places are being misrepresented on the national stage. But, why? When a historian assembles facts such as dates, locations and documents, both primary and secondary sources of information, and then gives an interpretation to those facts, there is room for more than one interpretation. Each historian may weigh the facts differently, but at least they will, in the case of American history, agree on dates and places.

The recent trend on the national political stage with regards to misrepresenting the essential facts of American history, I find very troublesome. To make such claims as the Founding Fathers worked tirelessly to end slavery in the United States is just plain wrong. But why would some one say such a thing on the National stage? If lies can be told about the reasons behind the Civil War that was fought in the United States in the mid 19th century, what other lies can be told to the American people?

I am very concerned about the attacks on historical truths as I am very concerned about the attacks on science, the scientific method and scientists. Countries that have rounded up their intellectuals to silence them, or have quietly executed them, has never spoken well for the liberty and freedom of their people. These attacks against hard facts, primary sources of history and science and scientists can have no good ending, in my opinion.

Have we Americans been so dumbed down that we don't care about these attacks? I wish I knew where this was headed.

Stay tuned.

The Last Sunflowers of Summer

2011-08-27T08:59:00.003-04:00

Before I tore my tendon in my left leg, I planted sunflower seeds that I saved from two years ago. I did not water them much this year; however, they managed to get enough moisture from the summer rains. I also did not tie them back so they would not fall over the driveway. Last week I had to cut them down, but I saved 2 sunflowers and brought them into the house and stuck them in a vase. The following day I took their picture. I like this composition of color and I am likely to do something with it. Perhaps another sunflower painting to remember my summer of 2011.

Everyone have a safe and nice weekend. And, hopefully Donald Trumps' hair can cause hurricane Irene to turn out to sea and not hit the east coast.

Our Domestic Economy Is A Hostage of Imported Oil

2011-08-23T10:14:00.005-04:00

I am old enough to remember the 1973 oil embargo pretty well. At that time, the Congress and President Nixon could have sat down together and worked out a plan whereby the United States would reduce its dependency on foreign oil by a small percent each year, with the final objective to be free totally of importing oil, or, for imports to be of such a small percent of the oil used in the United States that oil could never again be used as a weapon against our domestic economy. Unfortunately, President Nixon had other matters more pressing to deal with, such as the Watergate investigation, the Vietnam war and fighting all of his enemies imagined and real in the press. Nixon resigns the presidency in August 1974, and President Ford pardons former President Nixon and seals his fate of any chances of wining in 1976. President Carter came to office just as the inflation of the 1970s was just heating up and the American consumer was caught in a period of falling stock prices and rising costs. While President Carter was prepared to work on the issue of oil imports, the majority of the people were not. And so it has gone on like this for the last 38 years!

Oil is so dominate to the running of our economy that any movement in the price of a barrel of oil directly effects our domestic economy. Everything and everyone is transported by oil and the fuels that are derived from its production. There is not a segment of our society that is not dependent on oil. And, because the money we all spend on gasoline and diesel wind up leaving the country because the majority of the oil we use is imported, the amount of money in circulation is reduced more efficiently than any tax imposed on the American consumer. Money leaving our domestic economy removes purchasing power that otherwise would have been available for the purchase of goods and services. Add to this fact that many goods are produced overseas and are imported, only takes more money out of our economy.

Our domestic economy is tied to the price of a barrel of oil, and until that connection can be broken, our domestic economy will remain a hostage of imported oil.

Stay tuned.

What Makes Our Economy Run?

2011-08-22T08:40:00.004-04:00

Understanding what makes our economy run is really not very difficult, and you don't have to have a PhD in economics to understand that the cost of energy is a huge factor for millions of consumers. The shift upwards in the cost of fuel derived from petroleum, such as gasoline, diesel and jet fuel, acts in the same way as a tax increase that takes purchasing power away from the consumer. Bring down the cost of all energy will lead to a greater demand by consumers for goods and services and thus necessitate hiring by corporations and small businesses to meet the increased demand.

There is a balance that must be struck between drilling and the destruction of the environment. We need to drill more here within the boundaries of the United States because purchasing huge quantities of oil for foreign countries is bleeding our economy of much needed purchasing power as well.

While our politicians talk about jobs, jobs jobs, the truth is that jobs come from demand and demand comes from consumers with money in their pockets to spend. As I said, what makes our economy run is not very difficult to understand. Demand and money are the two main ingredients.

Stay tuned.

Saturday is For Art: 4 From My Envelope Collection

2011-08-20T09:55:00.006-04:00

These four acrylic paintings are on paper envelopes that I once received monthly investment reports from a rather small money management firm in NYC. The texture of the paper is what I liked and while the envelopes were made from black paper, I was determined to figure out a way to use them. At first, I would spread a thin coat of white acrylic paint across the backs of the envelopes and then draw on them with a ballpoint pen and pencil. Finally, I asked myself why don't I just buy some acrylic paints and just paint what I want right on them. I still like to cover the envelope with some color ground and then draw before painting. The top piece is AMERICAN PIE, then LEVEL PLAYING FIELD, the third piece is a postage stamp made in China, as even our postage stamps are no longer being printed in the USA (this is not true as we still print our own postage stamps), and the fourth envelope is a pattern of hex shaped tiles with no political content, just a simple design and having fun. I hope you enjoy my artwork and have a nice safe weekend.

The Good People of America Will Have to Ask Themselves That Question

2011-08-18T12:54:00.004-04:00

What if I told you that the recession is being caused by a lack of purchasing power? Would you ask what does purchasing power have to do with a recession? If people are placing more money into the operation of their vehicles, then how can the consumer maintain previous levels of demand for goods and services if incomes have remained stagnant? There are only so many months that the consumer can continue to spend discretionary income on goods and services, and the high price of gasoline, and still not drive his personal finances into the ground. How much debt can we bare?

Now to compare the debt of a country like the United States to the budget of a family of four is just plain stupid. Governments during periods of recession or depression can borrow and put people to work building infrastructure. This places cash money into the economy and creates demand for goods and services. This concept should not be too hard to grasp. The history of the United States includes periods where the Federal Government put people to work by building and replacing worn out infrastructure. The only thing stopping the country from doing this today is politics. The economics of this enterprise is sound. What remains is the political fight to destroy the first black president, and try to turn him out of office in the 2012 elections. This may happen, but his replacement will be looking at a recession or depression and the economics will not have changed. The only difference between doing it now or in 2013 is that more people will have suffered needlessly and more people will fall from the ranks of the middle class. Is it worth hurting so many people and making so many children suffer to defeat one black president? The good people of America will have to ask themselves that question.

What Does Governor Perry Know About Monetary Policy?

2011-08-17T09:15:00.005-04:00

Did I hear someone using the Federal Reserve Bank Chairman's name in vain? Oh, that was that Texas Governor Rick Perry, talking about what they would do to the Fed Chairman, Ben S. Bernanke if he printed more money. You all know it is important to get the history right even if it is recent history we are talking about. Just for the record, Ben S. Bernanke, the current Chairman of the Federal Reserve Bank in Washington, D.C. was appointed by President George W. Bush. This all occurred during the Bush presidency as Bernanke replaced Alan Greenspan as Fed Chairman. One more thing, Ben S. Bernanke is a Republican and a former economics professor that specialized in studying the Great Depression and how the Federal Reserve's monetary policy prolonged the depression. Bernanke is known to have written about this period, and hopefully has avoided making the same mistakes that were made in the 1930s.

What does the Federal Reserve Bank do? Well, if you will take a look at your paper money, you will see that at the top of our paper money are the words FEDERAL RESERVE NOTE. That's right, the Federal Reserve Bank issues our money. Now besides printing paper money for circulation, the Fed regulates banking through setting MONETARY POLICY. Monetary Policy works like this:

The Fed traditionally had 3 levers to influence interest rates and thus influence economic activity. Interest rates are thrown into the internal rate of rate formula by corporations, and businesses decide whether projects will fly at a given rate of interest if the money is borrowed from a commercial bank. And, if interest rates are low, economic activity will build and that leads to a higher velocity of money which makes the economy go round.

But, if the economy is moving too fast, the Fed can try to slow the economy by doing one, two or three things. First, the Fed can influence the amount of money in the banking system by buying or selling U.S. Government notes and bonds in the open market. These trades are called Open Market Operations, and if the Fed sells Treasuries, they take money out of the banking system. Second, the Fed can change the Fed Funds rate of interest. Fed Funds are what banks purchase from the Fed at the Fed window. If the Fed wants to slow the economy down, the Fed can raise the Fed Funds rate. The third lever is the reserve requirement and that too the Fed can raise and lower depending upon whether the Fed wants to slow down, or, try and speed up economic activity.

Now why would a Governor from Texas want to get ugly with a Republican Fed Chairman appointed by a Republican President? The only answer I can come up with is that this Republican Governor from Texas doesn't understand central banking or how monetary policy works to help grow the economy and speed up economic activity. Perhaps, some where along the line, someone can explain to him what monetary policy is and how it works.

Stay tuned, it has to get better.

Another Texas Gov For Pres

2011-08-14T09:48:00.002-04:00

Rick Perry is now in the race. A new level of nonsense is on the way.

A New Dark Age For Western Civilization?

2011-08-13T09:52:00.005-04:00

Some liberals probably did not watch the Republican Presidential candidates' debate the other night on FOX TV from Iowa; however, I tuned in and watched the whole thing. The dumbing down of America is almost complete as all we need is a Republican President that would turn down a 10:1 ratio of budget cuts to tax increases! As if the word compromise had been removed from the English language!

The men and one woman that were on stage the other night in the debate are not dumb people, but they know how dumb the electorate has become. The only question left to ask is: are there more idiots out there voting Republican in 2012 than voting Democrat? The Democrats have shown an unwillingness to fight for what they believe, and that then leads to the question: what do Democrats believe in?

Every one of these 8 presidential candidates raised their hand when one of the questioners asked who would not support a 10:1 ratio of budget cuts to tax increases if they were president. When this country gets to gridlock politically, I think we are finished as a Super Power.

What this means is that the science of economics has been thrown out the window, and the flat earth people now rule the country! At this point, those Republicans, Democrats and independents with financial resources that are liquid and a brain and education will pick up and leave the country. There are several countries where English is spoken as either the primary or secondary language, and many who will leave are smart enough to learn another language. The United States will be left to the religious right that denies the role that science and logic plays in the formation of civilization. A new Dark Age will be upon this land.

New Bush 43 Stamp T-shirts

2011-08-10T23:20:00.002-04:00

Link for new George W. Bush t-shirts for sale on eBay.

http://cgi.ebay.com/GEORGE-W-BUSH-43-T-SHIRTS-Sizes-S-2XL-100-Cotton-/110728478122?_trksid=p3286.m7&_trkparms=algo%3DLVI%26itu%3DUCI%26otn%3D3%26po%3DLVI%26ps%3D63%26clkid%3D1986657992576072271#ht_500wt_1116

The art work was inspired from the article in the August 2011 issue of VANITY FAIR magazine titled The Kingdom and The Towers. The idea for the t-shirt came from the comments and photographs contained in the article. Most will not connect the dots, but for those that do, they will understand the graphics.

Take a look and if you like it pass the link along.

Artwork by F.D. Zigler copyright 2011.

Blazing Saddles: Where's The 2011 Rewrite?

2011-08-09T11:36:00.003-04:00

Last night I watched Blazing Saddles on TV. The film was made in 1974, and if you have never seen it, I recommend you take the time and watch this movie. The basic story is that a black sheriff, Cleavon Little, is appointed by a corrupt politician and becomes his adversary as he successfully protects the town that the corrupt politician is attempting to destroy. This is Mel Brooks at his best. Cleavon White does a tremendous job with his role as sheriff as he was a great talent.

Perhaps it is time for Mel Brooks to update the story. The sheriff's great great grandson becomes President and tries to save the economy of the country, but he encounters corrupt politicians that are hell bent on destroying the country before they would give the black president a fair chance.

Where are you Mel Brooks when we need you?

Increase Economic Activity in The USA Now

2011-08-08T12:17:00.006-04:00

With so many people in a panic as a result of the S&P downgrade of U.S. Treasuries obligations to a double-A plus, I feel I should make a few comments.

Short term the United States is worthy of a triple-A credit rating, but long term, the way Congress failed to act by not raising revenues (taxes) while only cutting spending was deplorable. When politics get so acrimonious that the long term economic viability of the country is put into question, then the credit rating agencies are right to slap the USA with a downgrade, in my opinion.

A Little Economics.

The velocity of money and its relationship to economic growth can be connected by more than just dots. If the velocity of money within the United States slows down, then economic growth will slow with it. If people hold on their money and don't spend it out of fear of the future, economic activity dries up and velocity of money, in theory, could almost go to zero. Given the high unemployment number, the number of workers out of work, the smart economic thing to do is for the central government to take this opportunity to replace and repair and build new infrastructure. This infusion of money into the economy will lead to higher levels of employment and higher levels of employment will result in a higher velocity of money. In other words, money will change hands as people will create a greater demand for goods and services. This economic activity will also result in more tax revenues at the city, state and central government levels. This is pure economics. This is not politics.

The refusal of the Republican Party to do what is in the best interest of the country at a time of difficult economic times is, in my opinion inexcusable. But, enough people have to realize this before a change in direction can occur.

There is a lot of talk about how important it is to create jobs. Jobs are created when governments at the city, state and federal levels put people to work. The additional demand for goods and services from the private sector will result in a higher velocity of money and will take this country in the direction of full employment.

It is that simple!!!

Saturday is For Art: The Golden Ticket Art Show of 2011

2011-08-06T11:32:00.004-04:00

Since I have been sidelined with my torn tendon, I decide to do the Bush 43 Stamp after viewing the photographs in the VANITY FAIR issue of August 2011, and reading the article titled The Kingdom and The Towers. I bought a frame for Bush 43 from Suder's Art Store that was a standard 16" by 20" this past week. I was able to buy a nice wood frame that I liked and worked for the colors in this painting. But, I was still reluctant to give up on the idea of entering The Altarpiece even though with the 2 doors it is too big in square feet by the rules of the show. If I took the 2 doors off, the case of The Altarpiece would be just under the 9 square feet limit. I am thinking about going ahead and rigging the case to be hung on the wall without the doors, and entering it with the Bush 43 Stamp. They might both be rejected, but that is the chance you take when you enter a juried art show. Although I have had my artwork rejected several times, I nevertheless, don't like it when my work is rejected. I am now working on a new painting. It is going to be a postage stamp and self portrait. But, that is another story for another time.

U.S.A. Credit Rating Downgraded To Double-A Plus By S&P

2011-08-06T10:26:00.004-04:00

Credit ratings issued by the credit rating agencies have an interesting history for me. I remember when I was first introduced to the whole credit rating system over 40 years ago. My first experience with credit ratings was in the municipal bond arena. Back then there was just the two big credit rating agencies that mattered, Moody's and Standard & Poor's (S&P). Moody's was considered the better rating for municipal debt and S&P was considered the better judge of corporate debt. There were also some smaller bond dealers that gave their own credit rating on municipal debt that they underwrote. I remember reading these credit rating reports and how one of the items mentioned was the percentage of white people and the percentage of black people that lived in the municipality under review. Later when I became a municipal bond investment officer with the trust department of one of the banks in Cincinnati, I would read credit rating reports on the debt offerings coming to market for the coming week. In reading about the debt coverage of the Puerto Rico Highway Authority bonds, I discovered that they had over 6 times coverage on their outstanding debt. One would think that 6 times coverage would certainly call for a rating higher than a single-A rating. To say that race played a role in determining credit worthiness of a debt issuer, in my opinion, is an understatement.

The downgrade by S&P for me and I am sure many others is suspect. The first question that comes to mind is: How influential were Republican Party operatives in pushing S&P to this conclusion? Credit ratings do not exist in a vacuum. There is always a lot of discussion, and, who was driving that discussion? Were people inside S&P pushing for this downgrade, or, was this downgrade politically motivated from outside the agency?

S&P has a history of being behind the curve on changing their credit ratings as well as giving higher credit ratings than deserved in the case of the mortgage-backed bond ratings which they so charitably gave triple-A. As the investment bankers would shop a rating from the credit rating agencies, the rating agencies knew where the growth in earnings was coming from in their business.

Yes, this downgrade will hurt the credit of the United States and our whole economy. It will mean higher interest rates for everyone. Lenders will jump on this like white on rice, and see it as an opportunity to raise their earnings too. Savers on the other hand should most likely see the interest rates on savings accounts, money market funds and certificate of deposits go higher. But, higher rates may discourage investments where the internal rate of return will not warrant the risks associated with new construction. That is a downside for our whole economy as well as the world's economy too.

This is not the end. The Congress could take action to raise revenues and that would certainly put us facing the right direction. Debt is rated not only by the issuer's ability to pay, which in the case of the United States is not in question, but also the willingness to pay, and here is the rub. Congress is viewed by their recent theatrics as not graciously willing to meet our fiscal obligations. Attitude plays a role in how we are viewed around the world also.

A Two Part Solution To Our Economic Problems

2011-08-04T16:11:00.008-04:00

The economy of the United States can be fixed, and it can be done probably without firing a single shot.

My Economic Plan.

Inform Saudi Arabia that they will start pumping more oil. They will continue to pump oil until the price of a barrel of oil is below $50 a barrel. Then with the planet awash in oil, the price of gasoline, diesel and jet fuel will go down. It will no longer cost $70 to buy 20 gallons of gas. The "savings" that millions of motorists will have will go to buy goods and services. This will create a demand for more products and services.

The second part of My Economic Plan is to talk with China about spending money in the United States to educate our children. This money is needed to hire teachers, buy school supplies and fill up our universities.

I do not expect American consumers to stop buying cheaper Chinese made goods, but I do expect China to take an interest in keeping our demand so their economy does not go into the tank.

So, in review, My Economic Plan has 2 Parts: Part One is to tell Saudi Arabia to pump more oil and flood the world markets with oil or else we will pump the oil for them, and then the U.S. Government will keep the proceeds. Saudi Arabia should be happy to accept this generous offer, and it should only be made once.

Part Two is to ask the Chinese Government to invest in the education of America's children. Their education is future demand for Chinese made products. This is a better investment in the future than buying U.S. Treasury debt certificates.

Within a few months the U.S. economy will come around, and as our economy improves, so will the economies of the rest of the world.

Dr. Franklin Is Spinning In His Grave

2011-08-03T10:47:00.003-04:00

You know, you don't have to be a trained economist or win a Nobel Prize in Economics to understand supply and demand. To watch and listen to the politicians on both sides of the political spectrum you would think that a few of them would have taken or even remembered something from Econ 101. The Federal Government is a legitimate piece of our domestic economy. In fact, for a very long time, citizens of the United States understood this. Some people now think that the Federal Government has no place in our domestic economy, and that is a piece of fatal and erroneous reasoning. The Federal Government in 2011 has a legitimate role to play in our domestic economy and it is more than just spending for defense.

This country has not kept up with its internal physical maintenance. The more enlightened among us have spoken and written about the need to replace and repair our infrastructure. But, there is in the United States today a movement away from reason and scientific thinking. The country has been dumbed down to the point that this country's decline and defeat will not come from an enemy abroad, but from the enemy within. As the saying goes, "we have met the enemy, and it is us!" Yes, the American people are their own worst enemy. Serious thought and analysis are no longer held in high regard, as craziness with no analysis is the new Einstein. The 1960s, a time of reason, thinking and discovery is no more. The scientists of tomorrow will be leaving our country to travel to lands where science and reason are held in high regard, and foolishness is for entertainment and fun.

The Federal Government has a legitimate role to play in the economic cycle. To deny this is to run a race on one leg of a four legged animal. So much needs to be done, such as the FAA building projects that have been furloughed because Congress has failed to act. By the time the middle class wakes up and discovers that there is no middle class it will be too late. The present day Republican Party is succeeding in returning the United States to the 19th century. The body of knowledge that was produced during the 20th century is being systematically denounced, and we are soon to enter a new Dark Age. Even Dr. Franklin would be spinning in his gave if he knew the direction we are headed.

Are Your Shoes Wet?

2011-07-31T10:58:00.004-04:00

Just 2 days left before the Federal Government's debt ceiling hits the wall. Talking about walls, there is a lot of shit thrown against the wall by the Republican Party, but that is to be expected. What I marvel at is that the Republican Party has so many followers. This party does not have the interest of 99% of the American people. Their policies take care of only 1% or possibly 2% of the population. The interesting thing is that they are able to convince a much larger percentage of the population, to think, they are trying to help them to a better life. Is it even possible for these Americans that have nothing to be gained from voting for the Republican Party, to wake up some morning and realize on what side of the bread their bread is buttered? When will people ask themselves why large corporations can pay no taxes and other large corporations receive tax breaks that the ordinary worker does not receive? I admit the Republican Party does a great job of presenting a plethora of social issues that distract people from the key economic issues that would give them and their children a better life. And yet they, the Republican Party, claims to want to reduce the size and reach of the Federal Government except when it is reaching into those homes and families that don't mirror their righteous leaders. Education is hardly enough, people need to be able to think and analyze what is being said. If someone is pissing on your shoe, don't let them tell you it is raining. For God's sakes, Wake up!

President Obama And A Lincoln Moment

2011-07-30T09:38:00.003-04:00

I find it hard to believe that idiots are running the country. The debt ceiling crisis besides being a manufactured crisis is also not the big deal the peanut brain idiots of the Republican Party believe it is. Governments do 2 things: they collect taxes and they spend revenue. Raising a little more revenue is such a bitter pill that the idiots will in effect raise the cost of borrowing which of itself will be like a higher tax by putting the country into default. So, people that don't understand economics or the capital markets for that matter, or how to govern, are making decisions based on false assumptions. Yes, if I was a single old man, with no other responsibilities to anyone else, I would look into leaving and living in another country. The bird size brain idiots in Congress, with their faith based reasoning, has put western civilization back at least 500 years. In my opinion, I think in the end it will be up to President Obama to raise the debt ceiling by executive order and let the Supreme Court decide if he has the power to do so under the 14th amendment. I hope he has the courage to take the action if it is necessary.

Stay tuned. This is just the beginning.

Speaker Bonehead And The Debt Ceiling

2011-07-28T09:24:00.006-04:00

Like many of you, I have been following this manufactured crisis over raising the debt limit. The misinformation that the Republicans have been throwing around along with their lies and distortions of historical facts is unfortunate. Raising the debt ceiling was no big deal under Presidents Reagan, Bush and Clinton, so why is it such a crisis for President Obama. My answer is that the Republicans on the extreme right believe that the election of our first black president was a fluke and that if enough shit is thrown at him the electorate will not elect him for a second term. Senator Mitch McConnell (R-KY) has said from the beginning that his number one job is to see to it that President Obama is a one term president. But, the President isn't without his own party, as surely will be seen by the stupid exercise going on in the House of Representatives. Speaker Bonehead and Cantor think the American people will place all the blame for the debt raising fiasco on the President. I think the majority of American's sense of fair play will lead them to the correct conclusion about the debt ceiling debate. The Republicans, that control the House, have squandered valuable time by refusing to compromise, and thus placing the United States' triple-A credit rating at risk. Remember, credit ratings are based on two primary factors: the ability to pay interest on the debt and retire principal in a timely manner, and, the willingness to pay. The Republicans, by their refusal to raise the debt ceiling for this president, has placed our willingness to pay on past debt the main question. I would like to make mention of the fact that had President George W. Bush not taken us into Iraq based on the bogus claim of WMD, the United States would not have the debt that we are dealing with. Also, had the war in Iraq been paid for by not lowering taxes, the debt situation would not be where it is today. I certainly hope we get through this debt ceiling crisis before August 2, 2011, as 70 million Americans not receiving their checks could cause a break down in our society's willingness to live within the law. Think about it.

Stamp Update

2011-07-25T14:01:00.002-04:00

This may be how the stamp will appear on a white t-shirt. Maybe.

Saturday Is For Art: Bush 43 Postage Stamp

2011-07-23T08:31:00.003-04:00

Artists get their ideas from many places. I get a lot of my ideas for political satire from reading magazine articles and books. A few weeks ago I suggested that anyone interested in Bush 43 and the Saudi relationship surrounding 9/11 might like to read an article in the August issue of VANITY FAIR titled THE KINGDOM AND THE TOWERS. After reading the article and looking at the photos accompanying the article, this postage stamp came to me. The graphics I borrowed from a beautiful 1923, 14 cent U.S. postage stamp of an American Indian in blue. My Bush 43 stamp is still a work in progress as there is much yet to do before it has my seal of approval. But since I am not moving around very much these days with a leg brace strapped to my left leg, I thought I would share my progress report with my many fans of MONEYTHOUGHTS.

Take care and be well and drink plenty of liquids during this heat dome we are having in eastern half of the United States.

Bush 43 Postage Stamp by F.D. Zigler, in acrylic on canvas board, 2011.

Saturday Is For Art: New Political Satire Stamp

2011-07-16T09:48:00.003-04:00

This week I have been working on a new stamp. (See last post.) I am enjoying working on this piece as there is little else I can do with my left leg in a brace. I enjoy creating my political satire stamps. Can you guess what this one is about? When I complete the drawing phase, I can beginning painting.

New Project: Postage Stamp

2011-07-14T09:51:00.003-04:00

While I am healing from leg surgery, I came across an idea for another of my political satire postage stamps. Tuesday I was out and about with the help of my friend Stertmeyer, and I bought a piece of canvas board. I like to use canvas board or any other kind of board or plywood especially when I am doing a lot of mechanical drawing on my artwork. I also use cereal boxes to make patterns where I need to use a design more than once. When the drawing is complete, I will start painting with acrylics. So, besides sleeping in front of the TV while I am waiting for my left quad tendon to heal, I can do a little drawing. Here is what it looks like after one day's work. I got tired standing all morning and quit drawing and cutting patterns in the early afternoon. This old man got tired. The brace on my leg after a while feels like it weighs 50 pounds, so I took a nap. For the graphics of this postage stamp, I went back to an early 20TH century postage stamp design. More pics latter when the details are filled in.

Raise the Debt Ceiling & Meet Our Obligations Now

2011-07-13T07:52:00.005-04:00

Since I am not an economist by training or profession, let me give you some of my "junk economics".

The credit rating agencies measure 2 things when assigning a credit rating to a country, state or political sub-division. The first is the ability to pay! That is the debt, sometimes referred to as debt service or interest on the debt. Can the country meet its obligation to pay principal and interest on its debt. The second criteria is the willingness of the borrower to pay that debt. In other words, a political entity could have the financial resources to pay their debt, principal and interest, but not the inclination to do so. The United States Government should raise our debt ceiling and make good on obligations that it has assumed. The alternative to paying our debts in a timely manner is undercutting our ability to borrow in the capital markets around the world. This in my opinion and quite a few trained economists is what the government should be doing. This is not something that should become a political football to be kicked around our not so level economic playing field.

New Subject:

There is a huge need in the United States to repair and build new infrastructure. Only the Federal Government has the resources to under take such large projects, much like pursuing a war where the nations Armed Services are called into action. When investment is made domestically and resources in the ground are used from within, the domestic economy of the United States grows at a faster rate. Money is paid out and taxes on income are collected. But, there is one more thing that takes place. There is the expansion of the money supply that accompanies this economic growth. This then leads to more economic growth and more tax revenue to pay for the infrastructure. The infrastructure also delivers an economic good in and of itself. That economic good being in the form of greater productivity of the whole economy. This greater productivity produces greater demand and greater demand produces jobs! The above is not junk economics. It works. Check the political and economic history of the United States for the years 1941 to 1945, to see how this has worked in the past. Basic economics is not that complicated, except for the expansion of the money supply that takes place during economic growth, the rest is very much straight forward and understandable.

Note. That is me looking like an economist wearing a bow tie in 2006.

They Think They Can Beat The Negro President

2011-07-12T07:12:00.005-04:00

After listening to what is going on in Congress, it is my opinion that we have finally reached that point where the dumber are running the show. The right wing of the Republican Party is so fucking dumb that they have no comprehension of what a default will mean to our domestic economy. Also, it is my opinion that they think they can beat this negro president. It is also my opinion from evidence such as the recent marriage piece out of Iowa about slave babies had it better in 1860, than African-American babies growing up in the United States under President Obama's administration in 2011, that lead me to this conclusion. Senator McConnell said from the get go that he wants to make Obama a one term president. I don't think they would take this thing to the brink (and what now appears to be past the brink) on the default of the government, if the president was white. I think, that they really believe they will win in 2012 if the country defaults under the negro president. Every level headed adult has said the default is something we should not play with. Unfortunately, there are not enough level headed adults in the Republican Party in congress. The days of liberal or even conservative Republicans is past. The Southern Strategy that the Republican Party has pursued since Senator Strum Thurmond became a Republican in the early 1960s is still alive. One only has to listen to the twisted fabrications of American Political History that comes out of the mouths of the Republican presidential candidates to understand that the foundation of their arguments are rooted in distortions and racism. How can any intelligent person accept this behavior from a major political party in the United States in 2011?

Obama 44 Cent Stamp by F.D. Zigler, acrylic on MDO plywood, 2009.

Let's Go Back To The 14th Century And No Big Government

2011-07-11T09:09:00.005-04:00

Let's go back to the 14Th century and no big governments. We could all live around castles and pay our lord in crops for his protection in case of war. That way we pay no new taxes, except if the duke decides he needs more money to run the castle. Yes, let us go back to a simple time when everyone knew their place and the world was at peace. For those of you who know your European history from the 14Th century forward and don't care to repeat the lessons of history, it might serve us all well to enlighten those among us who think that life as we know it now has always been like this and that to go back would be a huge improvement. Why stop at the Tea Party Rebellion of the 18Th century, let us go back to even Roman times when Caesars decided what our taxes will be and who will pay and who will be slave. I get a kick out of listening to the those that don't know the history of western civilization. For the Republican Party, history is just more propaganda and it is to be used to manipulate the masses. So masses, be manipulated by the false history that comes forth from the mouths of Palin and Bachman, for ignorance is surely the new way to go. Can someone tell me when the NFL lockout will end so the gladiators will be able to fight? The coliseums are waiting.

Saturday Is For Art: Simeon Zigler's Art Continued

2011-07-09T09:24:00.005-04:00

Here are three pieces in watercolor that are not in the art exhibit of Simeon Zigler's artwork at the Skirball Museum. While these three pieces are a bit different and would have shown another dimension of his work, space was a real factor that limited what could be seen.

The 2012 Presidential Election Will Decide How Stupid The Middle Class Has Become

2011-07-08T15:54:00.004-04:00

The political economy remains in the toilet, and millions suffer. The unemployment is right around 9.2% and that doesn't even count those that gave up looking for work, or those working at wages far below their earning power just a short time ago. The changes that I wrote about that needed to me made in the capital markets never took place. While the investment game goes on, there is much damage that has not been repaired. When you take away all the fancy words and phrases from the economic pie, we are left with one word that means everything: confidence. Without confidence in the game people don't bet, and they take their money off the table. Every gamble that we make, we make because we feel there is a chase we may win. Whether we play the ponies or the slots or blackjack, we feel at least that the game is on the up and up and we have a chance. Unfortunately, when it comes to Wall Street, the investment bankers don't really care if people have a chance to win. Shooting fish in a barrel, a guaranteed win is what they are after. What is insider trading if not an attempt at knowing you are going to win before the game is even played. Unfortunately, The Wall Street & Washington Alliance controls the economy of the United States. As long as the people permit this situation to exist, unemployment and the recovery will linger. The fact that government spending to rebuild and repair the infrastructure of the United States is not happening is a testament to the fact that even solid economic principles can be buried over by bullshit from the Republican Party. The Republican Party stands for the destruction of the middle class. The middle class in many parts of the country are dumb enough to swallow their economic nonsense. The 2012 presidential election will be the year that we find out just how stupid the middle class is in America. Economics is not that difficult to understand, but it has been perverted to a point by the Republican Party beyond recognition. Has anyone seen a Nobel Prize winning economist buy into the Republican economic nonsense?

Saturday Night

2011-07-02T22:39:00.002-04:00

The painkillers work, but this operation has taken a lot out of me. Glad I have a long weekend with the 4th to get some rest.

Surgery Over - Healing Begins

2011-06-30T19:29:00.005-04:00

The tendon hadn't pulled away from the knee cap completely. The tear was repaired. Now my left leg is wrapped up and a brace is holding my leg straight. The long road begins - healing and then rehab. With the help of family and friends, I will heal.

The watercolor painting above was possibly the last watercolor painted by my father Simeon Zigler in 1968. Today, June 30, 2011 is the 100th anniversary of his birth, June 30, 1911. This painting speaks to healing for me and so I thought it appropriate for this occasion.

Out of Commission For A While

2011-06-29T07:50:00.004-04:00

Tomorrow I am having my tendon reattached to my knee cap on my left leg. I torn the tendon on June 17th. They say it will take 3 months to complete the rehab. My golf clubs will get a rest until October 1st. I probably will not be writing much for a while.

You all take care and be well.

Simeon Zigler's First Art Show is Today - 6/26/11

2011-06-26T08:37:00.003-04:00

Skirball Museum 3101 Clifton Avenue, Cincinnati, Ohio. 4 to 7:30 pm.

Eye will see you there.

Mature Pupil by Simeon Zigler, watercolor on paper.

Saturday Is For Art: Simeon Zigler's Show is Sunday

2011-06-25T07:27:00.002-04:00

Sunday, June 26 at the Skirball Museum on the campus of HUC-JIR, 3101 Clifton Avenue, Cincinnati, OH 45220. 39 pieces of Simeon's art work from the early 1930s to the end of the 1960s.

Self portrait of Simeon Zigler, black crayon.

Too Big To Fail Is An Ever Present Danger

2011-06-21T11:01:00.004-04:00

There is an article on the Internet about banks and the reserve requirement. What is a reserve requirement? Quite simply a reserve requirement is a percentage of money that a bank must keep on hand in cash or free reserves. This simply means that a bank must at all times hold some on it money, money that is on deposit, back and that that money can not be loaned out. The Basel III Agreement wants banks to hold on to 14% in reserve, but the banks want to only hold 7%. Naturally, the less money the bank keeps in reserve the more they can lend and the more money the bank can earn. Banks must make money otherwise they can not operate and they go under or they are sold to a larger bank that then assumes their deposits and loans (assets and liabilities). The CEOs of banks get a bonus based on the earnings of the bank or perhaps on growing their earnings. The strong incentive to make more money is the carrot they all chase. Unfortunately, there are ways to game the system and not even hold the 7% reserve requirement. It is also unfortunate, in my opinion, that the death penalty is off the table for what I like to refer to as "economic treason". Destroying our domestic economy and taking millions of families down to poverty because a select few want to be super rich is no way to run a railroad. But, the super rich influence the politicians who make the laws and so unless there is overwhelming public outcry for reform, nothing will be done to overt the next financial crisis. People that hold cash in the present banking environment are not stupid. The super rich that collect art that sells for millions of dollars are in essence putting cash under the mattress. The only difference is that there cash is on their walls and not under their mattress. Liquid assets is something more people need to give some thought to because the banking system in the United States is being run for the benefit of senior bank management and not the good of the shareholders or their depositors. The geniuses that did away with the Glass-Steagall Act of the 1930s, surgically removed the protections that prevented a major financial crisis as we experienced in 2007-08. With the end of Glass-Steagall, everyone is on their own now. The banking laws are a bad joke. Too Big To Fail is an ever present danger!!!

Simeon Zigler Art Exhibition For June 26, 2011: Is Up!

2011-06-18T06:57:00.004-04:00

Thursday, Sam Hollingsworth, the curator of the exhibition, and I hung the pieces for the Simeon Zigler Art Show that will open Sunday, June 26, 2011 at the Skirball Museum on the HUC-JIR campus at 3101 Clifton Avenue in Cincinnati, Ohio. Here are a few photos of Sam at work. This exhibit would not have happened if it was not for my friend Sam Hollingsworth's help from the very start of this project.

The Price of Gas is Holding Back Our Domestic Economy

2011-06-16T08:13:00.005-04:00

Our country runs on petroleum. Whether it is gasoline, diesel or jet fuel, it is all petroleum base. The high cost of all these fuels mean that consumers must pay a higher price for the fuel they buy, but also a higher price (or get less product for the same money) for the products they buy that are either manufactured with petroleum or have petroleum in their content. Oil is removing billions of dollars of discretionary income from the domestic economy. The affect is the same as a tax on consumers very much like a consumption tax. Until the United States controls its supply of oil, or is able to change the mix from petroleum, as the key ingredient for our economic survival, we are going to continue to export dollars to oil producing nations and not control where our dollars are spent. At this point, we do not control our own economy. The price of a barrel of oil is influencing our domestic economy and making discretionary spending for far too many people unaffordable.

Hanging The Show

2011-06-15T08:50:00.003-04:00

Today we are hanging the pieces for the Simeon Zigler art exhibition. Everything is ready. The pieces will be spaced. This show is something I have wanted to do for my father for over 40 years. Nice that it is happening in what would have been his 100th year. I am looking forward to the opening Sunday, June 26th at the Skirball Museum.

After The Ride 2011

2011-06-13T07:33:00.004-04:00

Sunday I rode in my 5th RIDE CINCINNATI. The weather cooperated in that it was on the cooler side for a June morning in Northern Kentucky. The workouts paid off as I knocked off the 26 miles without breaking a sweat. After I cooled down, I felt pretty exhausted as I rode hard and kept moving at the best pace I could manage. Riding along the Ohio River is a relatively flat route with an occasional hill, but nothing like cycling through Cincinnati where the hills can eat you up. Hopefully, I will ride next year too. The challenge now is to keep riding the rest of the summer and build on what I have developed. Above is a photo of me after the ride in the park by the Ohio River. I know, I look like an old man, but I can still pedal.

Memorial Day 2011

2011-05-30T09:15:00.002-04:00

Stolen Italian Art Found in Kentucky (of all places)

2011-05-29T08:46:00.002-04:00

This 14th century altarpiece was stolen from a villa in Italy in 1971 and sold to the Speed Art Museum in Louisville, KY in 1973. It is going to be returned to its rightful owner, the Italian authorities. I may have worked on this piece in a previous life in 14th century Italy when I went by the name of Frederico da Vidi. Sure looks a lot like the altarpiece I just built in the 21st century America.

Up Coming Art Show: Opening June 26, 2011

2011-05-28T09:11:00.002-04:00

I thought several of my friends and bloggers might be interested in knowing about this art show to commemorate my father's life and his artwork. There will be drawings, pen & India ink pieces from the 1930s, watercolor paintings from the late 1950s and 1960s. The show is free and open to the public. The Skirball Museum is on Clifton Avenue just north of the University of Cincinnati.

The Altarpiece: 5/24/2011

2011-05-24T10:36:00.004-04:00

This is about as finished as it is going to get. The juried art show that I was going to submit this piece to came out with their square feet and weight limitations, and my piece is too heavy and too big. So, it was fun making this piece, but for now there is no show to enter. I guess I will find a wall somewhere to hang it. I will be making smaller altarpieces in the future. As I get older 30 pounds starts to feel more like 50 pounds.

THE ALTARPIECE: M&C: LPFOTW 43.5" x 31"(closed) 43.5" x 59" (open) wood and acrylic paint w/brass hinges, 2011. From the workshop of Frederico da Vidi.

The Altarpiece Doors: The Inside & reversed

2011-05-16T13:16:00.003-04:00

I have been working on painting the inside of the 2 doors for the altarpiece. I think they need a little more work, but then I hope to be done with painting them. The are in the reverse positions in this photo as they will start with the sunflowers on the left and end with the winter view of the sunflowers and cone flowers on the right. Pretty soon it will be time to put the hinges back on the doors and then prepare the back of the case to be hanged on the wall.