Currency Wars

The Making of the Next Global Crisis


(2011)
James Rickards

Finished Reading: 03.2012

While not as well known as the World Wars, James Rickards sheds light on the very real and very serious Currency Wars - the third of which is underway. For a long time the dollar has been the supreme uncontested leader of the economic markets. Other lesser currencies were subject to its whims. Now lead by the euro, the yuan and possibly the ruble, a slow siege is underway against the mighty dollar. Though the outcome is unknown, Rickards gives a few plausible expectations.

He begins by recounting a war games exercise he participated in a few years ago with high level government and military officials at the Pentagon. The object of the game, as always, was to play out possible war scenarios in one form or another, and learn something useful that can be implemented in real future combat. This particular war games exercise was different for its use of economic warfare which includes the potential destruction of financial markets and currencies by foreign powers.

Rickards, an investor / banker, tried to open the eyes of the government brains and military muscles to show that what could really happen is far beyond what anyone in Washington imagines, let alone has made plans for, and he came away from the exercise convinced that they still don't get it. American overconfidence in its great strength, cunning, and exceptionalism could leave it in a vulnerable position when a different kind of bomb is dropped in this or another currency war.

Explaining the weapons of devaluation, quantitative easing, exchange rates, and others arrows in the economic quiver, Rickards takes a look at the previous currency wars this past century and the more peaceful times before. He forms a reasonable explanation of what we face today as countries battle to establish the lowest exchange rate for their currency, some fighting with gold while most battle with paper. In the age globalization, this is a war fought in every country, in every city, in every wallet. Money is now fully global, despite the remaining distinct currencies, and should it suffer a lethal blow few will stand unscathed.

Unbroken

A World War II Story of Survival, Resilience and Redemption

(2010)
Laura Hillenbrand

Finished Reading: 02.2012
Read on the Nook



As if clinging to a deflating rubber raft for a month with two other grown men, after crashing a plane into the middle of shark infested waters in the Pacific Ocean (near enemy territory) isn't bad enough, how about mentioning that there's nothing to eat, nothing to drink and no way to move the raft in a sensible direction?

Louie Zamperini was born to cause trouble but learned to run his way out of it, escaping childhood scrapes and difficulties, growing up to be a dedicated runner and moving as fast as he could. He ran faster than almost anyone and found himself running all the way to the finish line at the 1936 Olympics hosted by Adolph Hitler. It would have been a great story if it ended there. A triumphant rise from a dusty childhood to shining Olympic gold!

Well we can't have that, ending the book in a reasonable place! Golly, we've got to go after Hitler. With the onset of war Louie was reinvented as a bomber crewman, flipping a switch of destruction, dropping bombs on the enemies of his country. Inevitably, he and his flying comrades fell victim to similar firepower from their Japanese counterparts in the Pacific theater, and the great runner who had gotten out of great trouble, found himself on a little yellow pin prick of a raft in the great blue expanse of infinity. He couldn't run away from the Japanese pilots who shot up his plane with hundreds of little sun punched holes, or the circling dark shadowy sharks.

The surviving airmen clung to life aboard their ill-equipped floatation device, striving only to live. Their amazing resilience and the epic tale of their survival is only half the story - literally only half the story. I thought this would be a nice place to say it's over! Maybe Louie and his buddies get picked up by a search and rescue helicopter after a month fighting sea sharks. Yeah! And there would be great patriotic music blaring through my mind as he goes home to kiss his mother and shake hands with a Senator or even the President. No, of course not.

I could not believe where the story turned next, a direction I won't say, because the constant surprise at every turn is astonishing! Surprise is an integral component to the workings of this story. You really have to experience it. Sometimes I can tell where a story is going, but I enjoy it despite the predictability because it's a good story and well told. This was completely unpredictable and as good a story of survival, over and over, as as has ever been told.

A final note to all sharks: stop tormenting poor floating humans and just eat them already! It will be a better outcome for you because we won't write bad things about you in our books.

Shattered

Struck Down, But Not Destroyed

(2010)
Frank Pastore


Finished Reading: 12.2011

A successful Major League Baseball pitcher in the 1980's, Frank Pastore tells of his ascent to glorious riches and fame with the Cincinnati Reds and his subsequent identity failure following an accident involving a baseball and his right elbow. The dreams that defined his life were shattered in less than a second. Picking up the pieces, he finds out who he really is. He no longer can define himself solely as a baseball player. Pastore gives his life to Jesus and begins a new journey driven by faith in someone greater than himself. Baseball is now just along for the ride. As the years go by, Christianity is nothing like he thought it would be and his new identity in Christ brings difficulties and challenges, but grace as well.

As a baseball story, Frank Pastore's is not unique. Many players get injured and end their careers just as they think they're getting to where they want to be. Many make the big leagues after a difficult childhood and struggle with their new found fame and the excess of money that is the payoff. Pastore does a great job describing his life before and after the pitching mound.

Though very well written and engaging, and quite humorous throughout, I did not enjoy the censored language. "F---!" for example. If you don't want to publish curse words, that's fine (this is published by Focus On The Family, so I would expect nothing else), but I would prefer a more imaginative approach to the words that are used. Use a creative word that you can publish, rather than censoring the dirty mouths of baseball players with dashed lines.

Liberty Defined

50 Essential Issues That Affect Our Freedom

(2011)
Ron Paul

Finished Reading: 12.2011

Ron Paul is the cure for apathetic non-partisan Independents. I appreciate that this collection of issues identifies many different topics which are now served on the table of American politics. Unfortunately, some of these topics had been swept under the table only to be rediscovered here. Listed in alphabetical order, Ron Paul succinctly states his opinion on each and moves on to the next in a sort of primer for fidgety open minds.

A few of these issues are the standard talking points that were boring in the last election cycle, and are still boring this time around because the Democrats and Republicans never really come to any new conclusions: Abortion, education, gun control, and taxes. And more! Other topics are specifically Ron Paulisms, those topics that no one else dares talk about but which Congressman Paul likes to frequently remind us about as issues that need to be discussed rather than blindly accepted: Austrian Economics, Empire, Foreign Aid, and Monetary Policy.

Maintaining Libertarian principles throughout, Ron Paul defends Liberty from the point of view that the rights of the individual are foremost and the government, whatever its form, has no right to take away those individual rights. Since governments should stay out of most issues, they should also leave their opinions and their money out of most issues.  "...Governments have nothing to pass out, since they produce nothing. Anytime government provides a benefit, it must first steal it from someone else who is producing it, thus violating the rights of the individual."

Essentially, denying the rights of one person to help another person is decreasing the freedom of both. The first person has lost his freedom to choose who to help, and the second person has possibly lost his freedom to rise above the monopoly provided by a certain type of help. "Foreign aid can best be described as taking money from the poor in a rich country and giving it to the rich and powerful in a poor country."

Progressives would of course disagree because they, "hold that any law or regulation that is created in the name of something like civil rights is in itself the very essence of those rights," according to Paul Krugman in this article by William L. Anderson. Whereas Libertarians desire fewer laws so that individuals can make their own choices, including poor choices, progressives desire more laws so that no one is allowed to make a poor choice - which could bring us all down. Ron Paul and other Libertarians offer that our national inclination towards legislating everything needs  reconsideration. Anderson quotes Frederic Bastiat as saying, "Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its being done at all."

My agreement with Ron Paul's ideas is fairly universal, but of course we can't agree on everything so I enjoyed this book. There are a few of these issues that I find to be secondary at best and are not worth an argument over whether or not they are true, but provide food for thought. Mainstream Republicans should consider whether their undying party allegiance should entertain some healthy deviations and give Congressman Paul another look. He draws support from Democrats, Republicans, Independents, and a wide range of preconceived notions that make for strange bedfellows.

Bossypants

(2011)
Tina Fey

Finished Reading: 11.2011

Tina Fey is a funny female comedian because she doesn't care that you don't like funny female comedians. Starting on the Chicago improv circuit, she moved on to star in Saturday Night Live in New York, create the hit NBC television comedy 30 Rock, and then try to convince anyone who would listen that two Sarah Palins are better than one, but maybe not better than none.

The Rules of Improvisation, as related by Tina Fey, can be applicable to everyday conversations, even if she didn't intend this. You don't have to be an actor to utilize improve. At the very least, improvisation makes conversation more interesting, and goes something like this: Agree with the person you're speaking with; add to what they're saying to deepen the dialog; make statements rather than ask questions; and go with your mistakes. You never know where mistakes will lead you.

It's nice to know that someone is the showbiz has a strong father figure. Tina loves and fears her father and credits him with her having turned out halfway decent. "That's Don Fey," says everyone as he walks by. Everyone knows who he is and admires him. Don Fey dresses well and looks good. Don Fey did this. Don Fey did that.

My favorite of Tina Fey's characters is Jack Donaghy on 30 Rock. "(She) liked the idea of writing Alec Baldwin as a powerful conservative, having him articulate passionately the opposite of everything he believed in real life."

Sometimes the reasons for a joke are just as funny as the joke itself. There's a lot of that in here.

Above Portland

(2010)
Bruce Forster
Chet Orloff

Finished Reading: 03.2010

PORTLAND - AS YOU'VE NEVER SEEN IT BEFORE! From the clear blue sky! A view straight down from the heavens! Bask in the glorious sunlight reflecting gallantly from boxy glass towers and shimmering gray rivers! Question the absence of clouds! Embrace the urbanity! Look for your house!

To be elevated above the concrete, brick and storefront at grade to the lofty arms of thinning stratosphere, is pretty exciting. Aerial views are the mix of map and elevation. We look down again at the small blocks from where we hover, and are left breathless to learn of historical and contemporary urbanity, nature, and a desperate search for our own apartment building in the huddled masses below.

This is mostly a picture book containing descriptions, history and commentary. The focus revolves around downtown Portland (since that's where there are things to see), but snapshots of the outlying areas are pleasant as well. The images are clear and beautiful.

There are a number of historical aerial photos, mostly from mid-century, that display the change that has occurred between then and now. One in particular struck me. As we know, Portland and Vancouver are two large cities divided by the great Columbia River. Many stunning views from both are laid out in this book. But I learned here that there was once a city in between (gasp!) No, this city was not in the river itself (not originally anyway), nor is it the lost city of Atlantis. What is now a swampy golf course and race track was once the city of Vanport - epically destroyed in a 1948 flood. I had never heard of Vanport, so I looked it up to learn more. It was a military town constructed during the second world war. The city grew quickly and became the second largest in the state (after adjacent Portland). Five years later it was gone; a small number were killed in the flood and the rest displaced to the surrounding neighborhoods (racial tensions included).

Portland boasts a few instances of pioneering public policy - decisions that shape the city of today. A few decades ago an Urban Growth Boundary was established to help stop the spread of sprawl around the periphery of the city and to protect natural areas and farm lands. While this helped shape the edge of the city, another decision to redirect federal highway funds from a automotive freeway expansion instead to the building of the first line of the MAX light rail train, has shaped the center of the city and the diversity of our transportation modes. The sprawl has an end, and old neighborhoods are intact.

The city marches slowly forward - though it seems like a slow crawl from the air.

The Eco-Nomical Baby Guide

Down-to-Earth Ways for Parents to Save Money and the Planet

(2010)
Joy Hatch
Rebecca Kelley

Finished Reading: 05.2010

Besides the cute owl on the cover, this book contains some great ideas and methods for raising a child in an environmentally friendly way. Greener living doesn't always mean more expensive - even with a baby. With a little effort in doing things a little differently, parents can be satisfied with some level of a greener beginning for their child's life. Options are presented for the significant purchases of baby furniture, diapers, food and more. The pros and cons are detailed to promote informed choice and hopefully convince the parents that they don't need all the baby gear that is marketed to the American consumer. Some things can be found second-hand, more earth-friendly options are available, and with many things - we can do without. The parents are at liberty to decide which things work best for their family, as even the two authors diverge on what works best for them. This book is important for all adults who think of themselves as some sort of green parent, and maybe those who don't should check it out to see why. You may simply change your light bulbs to compact fluorescent and separate the recycling, you might live in a car-free urban situation, or possibly you believe in a one-child, no meat-eating lifestyle or find yourself somewhere in between.

Mixing humor with practicality, the authors have put together an extensive and easy to read guide to prepare you for the new baby. It was easy to skip over some sections which were completely non-applicable to my anticipated situation - such as bottle feeding tips and the best childcare options for working parents. Helpful diagrams are included, such as how to change a diaper and the cost comparison of various types of cloth diapers to disposables, alongside the environmental impacts.

The authors stress the first, and often forgotten of the Three R's - Reduce. Parents can save a lot of money by purchasing less stuff, and they do a good job of explaining why all that extra baby stuff isn't necessary. Far from an dictatorial Eco-manifesto on the best way to raise children, the Eco-nomical Baby Guide describes a range of options available for both the Extraordinarily Green and the Jaded Green parent. The book ends with Ten Simple Things You Can Do for the Planet Right Now (and Four Difficult Ones), challenging readers to see where their commitment to green parenting lies and to set goals for the future and their children's future.

Green Building Fundamentals

A Practical Guide to Understanding and Applying Fundamental Sustainable Construction Practices and the LEED Green Building Rating System

(2010)
Michael Montoya

Finished Reading: 03.2010

LEED sounds really cool, but I have been unfortunate in my lack of involvement and influence by this green building standard. Though I have been in the architectural field for a number of years, I have not had the opportunity to work directly with anyone who is really interested in building a LEED building, nor have I worked with a LEED building in anyway. So I picked up this book to do a little research and hopefully learn something.

I found this to be a very significant guide to green building, and not intimidating at all. In addition to general, practical information, this book includes a section on preparing for the LEED accreditation exam. Various green building practices and methods are described in clear, concise detail, serving as a good introduction to the uninitiated and as a valuable brush-up for those who are familiar with this sort of environmental stewardship (me), but have not committed it fully to heart. The overtly LEED portion of the publication appears only at the end, so someone wanting to gain knowledge in general sustainable building practices who isn't preparing to take the test will find this text accessible.

Major green building fundamentals addressed include site development, managing water runoff, energy efficiency, renewable resources, and indoor air quality to name a few. Each building fundamental is presented clearly and the possibilities are explained with examples of project implementation.

Upon completion of this book, my interest in becoming a LEED accredited professional has increased, more than my skeptical inclinations previously allowed. The process is now clearer. I feel the greatest benefit of LEED is in the accreditation of individuals responsible for the designing and building of structures, providing structured access to knowledge, technology and common sense that can be used in every project - whether the project achieves LEED certification or not. I am still skeptical of the value in actually assigning these points to particular projects by adhering to a checklist of green accomplishments, but I have yet to experience that first-hand.

There is nothing worse than trying to learn something by pasting bits of knowledge together from many sources, only hoping that you have found the relevant pieces and have them in place before the glue drys. This publication, while not containing all knowledge on the subject, brings together much of what we need to know.