Weekend Economists Ask: R WEE Donne? January 8-10, 2016
It's been an interesting week in the markets. When China's ricky-ticky stock markets started to go crazy, all the other markets (and the hot money and the shadow banksters) went into full panic attack mode. The hordes and their hoards were violently upheaved.
http://finance.yahoo.com/news/us-stocks-rise-day-sharp-153623143.html
A wave of late selling pummeled U.S. stocks Friday and pushed the market to its worst week in four years. The dismal start to the new year comes as investors worry that China's huge economy is slowing down. That has helped send the price of oil plunging to its lowest level since 2004, the latest blow to U.S. energy companies. Industrial and technology companies such as Boeing and Apple that do a lot of business in China have also fallen sharply this week. Mining companies such as Freeport-McMoRan plunged as copper prices have fallen. China is a major importer of copper.
Stocks started the day higher, driven in part by news of an encouraging burst in hiring last month by U.S. employers. China's stock market also rose 2 percent overnight, recovering somewhat after steep drops earlier in the week triggered trading halts. Indexes wavered between small gains and losses for most of the day, but took a decisive turn lower in the last hour of trading. That made this the worst week since September 2011, when the market was roiled by the fight over the U.S. debt ceiling and Standard & Poor's move to cut the credit rating of the U.S. government.
The Dow Jones industrial average dropped 167.65 points, or 1 percent, to 16,346.45.
The Standard & Poor's 500 index fell 21.06 points, or 1.1 percent, to 1,922.03.
The Nasdaq composite index shed 45.80 points, or 1 percent, to 4,643.63.
The Dow and S&P 500 are each down about 6 percent for the week. The Nasdaq composite fell even more, 7.3 percent. That index is heavily weighted with technology and biotech companies, both of which were high-fliers last year. The largest losses on Friday went to financial stocks. JPMorgan Chase lost $1.35, or 2.2 percent, to $58.92 and Citigroup fell $1.43, or 3 percent, to $46.13. Health care stocks slumped, led by drug companies. Energy stocks also skidded as the price of oil, already at decade lows, continued to fall.
European stocks also rose early in the day, but couldn't hang on. The FTSE 100 index of leading British shares declined 0.7 percent while Germany's DAX lost 1.3 percent. The CAC-40 in France slid 1.6 percent.
The same pattern held in the U.S. In its monthly jobs report, released before the stock market opened, the Labor Department said U.S. employers added 292,000 jobs in December, far more than economists had forecast. That's the latest sign the U.S. economy is still growing. On average employers added 284,000 jobs per month in the fourth quarter, the best rate in a year...Throughout the week, worries about China's economy and shocks to its markets have canceled out positive news from the U.S. and Europe. While China's economy is still growing, that growth isn't as fast as it has been. That could hurt sales of everything from iPhones to oil and heavy machinery.
Oil prices also lost ground. U.S. crude fell 11 cents to close at $33.16 a barrel in New York and Brent crude, a benchmark for international oils, declined 20 cents to $33.55 a barrel in London. Exxon Mobil lost $1.54, or 2 percent, to $74.69 and Tesoro fell $5.41, or 5 percent, to $101.62.
This week retailers started disclosing their holiday-season results. Gap and American Eagle both reported disappointing sales. Gap stock dropped $3.83, or 14.3 percent, to $22.91, its lowest in almost four years. American Eagle tumbled $2.64, or 16.6 percent, to $13.24. Department stores were among the biggest losers on the S&P 500. Their holiday sales have been hurt by the unusually warm winter weather. Kohl's fell $2.98, or 5.9 percent, to $47.88 and Macy's lost $1, or 2.7 percent, to $35.89. The Container Store reported a surprise third-quarter loss and disappointing sales, and its stock plunged $2.96, or 41.2 percent, to $4.22. The company went public in November 2013 with an IPO that priced at $18 per share and it finished its first trading day at $36.20.
The price of gold fell $9.90, or 0.9 percent, to $1,097.90 an ounce. Silver declined 42.6 cents, or 3 percent, to $13.918 an ounce. Copper was unchanged at $2.022 a pound.
The euro fell to $1.0903 from $1.0927 and the dollar edged up to 117.67 yen from 117.50 yen late Thursday. Bond prices rose. The yield on the 10-year Treasury note edged down to 2.12 percent from 2.15 percent.
In other energy trading, wholesale gasoline fell 1.8 cents to $1.128 a gallon, heating oil fell 1.4 cents to $1.052 a gallon and natural gas rose 9 cents to $2.472 per 1,000 feet.
So, is this the beginning of the end of the Capitalist Complacency? Will the 1% sink back into the middle of the pack, as their paper assets go up in smoke? Will the Great Hegemon of the West dissipate like smoke on the water? Will the 3rd World be allowed to proceed without the Crazy Uncle sticking his nose into their every affair?
Let's find out what John Donne would say. This English poet and cleric would be able to deal with the metaphysical aspects of it all:
Death, be not proud, though some have called thee
Mighty and dreadful, for thou art not so;
For those whom thou think'st thou dost overthrow
Die not, poor Death, nor yet canst thou kill me.
From rest and sleep, which but thy pictures be,
Much pleasure; then from thee much more must flow,
And soonest our best men with thee do go,
Rest of their bones, and soul's delivery.
Thou art slave to fate, chance, kings, and desperate men,
And dost with poison, war, and sickness dwell,
And poppy or charms can make us sleep as well
And better than thy stroke; why swell'st thou then?
One short sleep past, we wake eternally
And death shall be no more; Death, thou shalt die.
or as others have remarked: sic transit gloria mundi
= new reply since forum marked as read
Is absolutely spot on in her comments here. There are no good solutions.
All I can recommend is try to develop a skill that would be valuable in a less modern world, say wood working with hand tools, or being able to spin yarn or sew.
Sadly, way, way to many psychopaths among us. 
John Donne (22 January 1572 – 31 March 1631) was an English poet and a cleric in the Church of England.
He is considered the pre-eminent representative of the metaphysical poets. His works are noted for their strong, sensual style and include sonnets, love poems, religious poems, Latin translations, epigrams, elegies, songs, satires and sermons. His poetry is noted for its vibrancy of language and inventiveness of metaphor, especially compared to that of his contemporaries. Donne's style is characterised by abrupt openings and various paradoxes, ironies and dislocations. These features, along with his frequent dramatic or everyday speech rhythms, his tense syntax and his tough eloquence, were both a reaction against the smoothness of conventional Elizabethan poetry and an adaptation into English of European baroque and mannerist techniques.
His early career was marked by poetry that bore immense knowledge of English society and he met that knowledge with sharp criticism. Another important theme in Donne's poetry is the idea of true religion, something that he spent much time considering and about which he often theorized. He wrote secular poems as well as erotic and love poems. He is particularly famous for his mastery of metaphysical conceits.
Despite his great education and poetic talents, Donne lived in poverty for several years, relying heavily on wealthy friends. He spent much of the money he inherited during and after his education on womanising, literature, pastimes, and travel.
In 1601, Donne secretly married Anne More, with whom he had twelve children.
In 1615, he became an Anglican priest, although he did not want to take Anglican orders. He did so because King James I persistently ordered it. In 1621, he was appointed the Dean of St Paul's Cathedral in London. He also served as a member of Parliament in 1601 and in 1614.
Early life
A portrait of Donne as a young man, c. 1595, artist unknown, in the collection of the National Portrait Gallery, London
Donne was born in London, into a recusant (a person who refuses to submit to an authority or to comply with a regulation) Roman Catholic family when practice of that religion was illegal in England.
Donne was the third of six children. His father, also named John Donne, was of Welsh descent and a warden of the Ironmongers Company in the City of London. Donne's father was a respected Roman Catholic who avoided unwelcome government attention out of fear of persecution.
His father died in 1576, when Donne was four years old, leaving his son fatherless and his widow, Elizabeth Heywood, with the responsibility of raising their children alone. Heywood was also from a recusant Roman Catholic family, the daughter of John Heywood, the playwright, and sister of the Reverend Jasper Heywood, a Jesuit priest and translator. She was a great-niece of the Roman Catholic martyr Thomas More.
This tradition of martyrdom would continue among Donne's closer relatives, many of whom were executed or exiled for religious reasons. Donne was educated privately; however, there is no evidence to support the popular claim that he was taught by Jesuits. Donne's mother married Dr. John Syminges, a wealthy widower with three children, a few months after Donne's father died. Donne thus acquired a stepfather. Two more of his sisters, Mary and Katherine, died in 1581. Donne's mother lived her last years in the Deanery after Donne became Dean of St Paul's, and died just two months before Donne, in January 1631.
In 1583, the 11-year-old Donne began studies at Hart Hall, now Hertford College, Oxford. After three years of studies there, Donne was admitted to the University of Cambridge, where he studied for another three years. However, Donne could not obtain a degree from either institution because of his Catholicism, since he refused to take the Oath of Supremacy required to graduate.
In 1591 Donne was accepted as a student at the Thavies Inn legal school, one of the Inns of Chancery in London. On 6 May 1592 he was admitted to Lincoln's Inn, one of the Inns of Court.
In 1593, five years after the defeat of the Spanish Armada and during the intermittent Anglo-Spanish War (1585–1604), Queen Elizabeth issued the first English statute against sectarian dissent from the Church of England, titled "An Act for restraining Popish recusants". It defined "Popish recusants" as those "convicted for not repairing to some Church, Chapel, or usual place of Common Prayer to hear Divine Service there, but forbearing the same contrary to the tenor of the laws and statutes heretofore made and provided in that behalf".
Donne's brother Henry was also a university student prior to his arrest in 1593 for harbouring a Catholic priest, William Harrington, whom he betrayed under torture. Harrington was tortured on the rack, hanged until not quite dead, and then subjected to disembowelment. Henry Donne died in Newgate prison of bubonic plague, leading Donne to begin questioning his Catholic faith.
During and after his education, Donne spent much of his considerable inheritance on women, literature, pastimes and travel. Although no record details precisely where Donne travelled, he did cross Europe and later fought with the Earl of Essex and Sir Walter Raleigh against the Spanish at Cadiz (1596) and the Azores (1597), and witnessed the loss of the Spanish flagship, the San Felipe. According to Izaak Walton, who wrote a biography of Donne in 1658:
—?Izaak Walton
By the age of 25 he was well prepared for the diplomatic career he appeared to be seeking. He was appointed chief secretary to the Lord Keeper of the Great Seal, Sir Thomas Egerton, and was established at Egerton's London home, York House, Strand close to the Palace of Whitehall, then the most influential social centre in England.
Marriage to Anne More
During the next four years Donne fell in love with Egerton's niece Anne More, and they were secretly married just before Christmas in 1601, against the wishes of both Egerton and George More, who was Lieutenant of the Tower and Anne's father.
Upon discovery, this wedding ruined Donne's career, getting him fired and put in Fleet Prison, along with minister Samuel Brooke, who married them, and the man who acted as a witness to the wedding. Donne was released shortly thereafter when the marriage was proven valid, and he soon secured the release of the other two. Walton tells us that when Donne wrote to his wife to tell her about losing his post, he wrote after his name: John Donne, Anne Donne, Un-done. It was not until 1609 that Donne was reconciled with his father-in-law and received his wife's dowry.
After his release, Donne had to accept a retired country life in a small house in Pyrford, Surrey, owned by Anne's cousin, Sir Francis Wooley, where they resided until the end of 1604. In spring 1605 they moved to another small house in Mitcham, London, where he scraped a meager living as a lawyer, while Anne Donne bore a new baby almost every year. Though he also worked as an assistant pamphleteer to Thomas Morton writing anti-Catholic pamphlets, Donne was in a constant state of financial insecurity.
Anne bore John 12 children in 16 years of marriage, a record at that time, (including two stillbirths — their eighth and then, in 1617, their last child); indeed, she spent most of her married life either pregnant or nursing. The 10 surviving children were Constance, John, George, Francis, Lucy (named after Donne's patroness Lucy, Countess of Bedford, her godmother), Bridget, Mary, Nicholas, Margaret, and Elizabeth.
Three (Francis, Nicholas, and Mary) died before they were ten. In a state of despair that almost drove him to kill himself, Donne noted that the death of a child would mean one mouth fewer to feed, but he could not afford the burial expenses.
During this time, Donne wrote but did not publish Biathanatos, his defense of suicide. His wife died on 15 August 1617, five days after giving birth to their twelfth child, a still-born baby. Donne mourned her deeply, and wrote of his love and loss in his 17th Holy Sonnet.
Career and later life
A few months before his death, Donne commissioned this portrait of himself as he expected to appear when he rose from the grave at the Apocalypse. He hung the portrait on his wall as a reminder of the transience of life.
In 1602 John Donne was elected as Member of Parliament for the constituency of Brackley, but this was not a paid position. Queen Elizabeth I died in 1603, being succeeded by King James I of Scotland. The fashion for coterie poetry of the period gave Donne a means to seek patronage, and many of his poems were written for wealthy friends or patrons, especially MP Sir Robert Drury of Hawsted (1575–1615), whom he met in 1610 and became Donne's chief patron, furnishing him and his family an apartment in his large house in Drury Lane.
In 1610 and 1611 Donne wrote two anti-Catholic polemics: Pseudo-Martyr and Ignatius his Conclave for Morton. He then wrote two Anniversaries, An Anatomy of the World (1611) and Of the Progress of the Soul (1612) for Drury. Although James was pleased with Donne's work, he refused to reinstate him at court and instead urged him to take holy orders. At length, Donne acceded to the king's wishes, and in 1615 was ordained into the Church of England.
In 1615 Donne was awarded an honorary doctorate in divinity from Cambridge University, and became a Royal Chaplain in the same year, and a Reader of Divinity at Lincoln's Inn in 1616, where he served in the chapel as minister until 1622.
In 1618 he became chaplain to Viscount Doncaster, who was on an embassy to the princes of Germany. Donne did not return to England until 1620.
In 1621 Donne was made Dean of St Paul's, a leading and well-paid position in the Church of England, which he held until his death in 1631.
During his period as dean his daughter Lucy died, aged eighteen. In late November and early December 1623 he suffered a nearly fatal illness, thought to be either typhus or a combination of a cold followed by a period of fever. During his convalescence he wrote a series of meditations and prayers on health, pain, and sickness that were published as a book in 1624 under the title of Devotions upon Emergent Occasions. One of these meditations, Meditation XVII, later became well known for its phrases "No man is an Iland" (often modernised as "No man is an island"
and "...for whom the bell tolls". In 1624 he became vicar of St Dunstan-in-the-West, and 1625 a prolocutor to Charles I.
He earned a reputation as an eloquent preacher and 160 of his sermons have survived, including the famous Death’s Duel sermon delivered at the Palace of Whitehall before King Charles I in February 1631.
Death
It is thought that Donne's final illness was stomach cancer, although this has not been proven. He died on 31 March 1631 having written many poems, most of which were circulated in manuscript during his lifetime. Donne was buried in old St Paul's Cathedral, where a memorial statue of him was erected (carved from a drawing of him in his shroud), with a Latin epigraph probably composed by himself. Donne's monument survived the 1666 fire, and is on display in the present building.
Writings
Early poetry
Donne's earliest poems showed a developed knowledge of English society coupled with sharp criticism of its problems. His satires dealt with common Elizabethan topics, such as corruption in the legal system, mediocre poets, and pompous courtiers. His images of sickness, vomit, manure, and plague reflected his strongly satiric view of a world populated by all the fools and knaves of England. His third satire, however, deals with the problem of true religion, a matter of great importance to Donne. He argued that it was better to examine carefully one's religious convictions than blindly to follow any established tradition, for none would be saved at the Final Judgment, by claiming "A Harry, or a Martin taught them this."
Donne's early career was also notable for his erotic poetry, especially his elegies, in which he employed unconventional metaphors, such as a flea biting two lovers being compared to sex. In "Elegy XIX: To His Mistris Going to Bed" he poetically undressed his mistress and compared the act of fondling to the exploration of America. In "Elegy XVIII" he compared the gap between his lover's breasts to the Hellespont. Donne did not publish these poems, although he did allow them to circulate widely in manuscript form.
Some have speculated that Donne's numerous illnesses, financial strain, and the deaths of his friends all contributed to the development of a more somber and pious tone in his later poems. The change can be clearly seen in "An Anatomy of the World" (1611), a poem that Donne wrote in memory of Elizabeth Drury, daughter of his patron, Sir Robert Drury of Hawstead, Suffolk. This poem treats Elizabeth's demise with extreme gloominess, using it as a symbol for the Fall of Man and the destruction of the universe.
The poem "A Nocturnal upon S. Lucy's Day, Being the Shortest Day", concerns the poet's despair at the death of a loved one. In it Donne expresses a feeling of utter negation and hopelessness, saying that "I am every dead thing ... re-begot / Of absence, darkness, death." This famous work was probably written in 1627 when both Donne's friend Lucy, Countess of Bedford, and his daughter Lucy Donne died. Three years later, in 1630, Donne wrote his will on Saint Lucy's day (13 December), the date the poem describes as "Both the year's, and the day's deep midnight".
The increasing gloominess of Donne's tone may also be observed in the religious works that he began writing during the same period. His early belief in the value of scepticism now gave way to a firm faith in the traditional teachings of the Bible.
Having converted to the Anglican Church, Donne focused his literary career on religious literature. He quickly became noted for his sermons and religious poems. The lines of these sermons and devotional works would come to influence future works of English literature, such as Ernest Hemingway's For Whom the Bell Tolls, which took its title from a passage in Meditation XVII of Devotions upon Emergent Occasions, and Thomas Merton's No Man is an Island, which took its title from the same source.
Towards the end of his life Donne wrote works that challenged death, and the fear that it inspired in many men, on the grounds of his belief that those who die are sent to Heaven to live eternally. One example of this challenge is his Holy Sonnet X, "Death Be Not Proud", from which come the famous lines "Death, be not proud, though some have called thee / Mighty and dreadful, for thou art not so." Even as he lay dying during Lent in 1631, he rose from his sickbed and delivered the Death's Duel sermon, which was later described as his own funeral sermon. Death's Duel portrays life as a steady descent to suffering and death, yet sees hope in salvation and immortality through an embrace of God, Christ and the Resurrection.
Style
His work has received much criticism over the years, especially concerning his metaphysical form. Donne is generally considered the most prominent member of the metaphysical poets, a phrase coined in 1781 by Samuel Johnson, following a comment on Donne by John Dryden. Dryden had written of Donne in 1693: "He affects the metaphysics, not only in his satires, but in his amorous verses, where nature only should reign; and perplexes the minds of the fair sex with nice speculations of philosophy, when he should engage their hearts, and entertain them with the softnesses of love."
In Life of Cowley (from Samuel Johnson's 1781 work of biography and criticism Lives of the Most Eminent English Poets), Johnson refers to the beginning of the seventeenth century in which there "appeared a race of writers that may be termed the metaphysical poets". Donne's immediate successors in poetry therefore tended to regard his works with ambivalence, with the Neoclassical poets regarding his conceits as abuse of the metaphor. However he was revived by Romantic poets such as Coleridge and Browning, though his more recent revival in the early twentieth century by poets such as T. S. Eliot and critics like F R Leavis tended to portray him, with approval, as an anti-Romantic.
Donne is considered a master of the metaphysical conceit, an extended metaphor that combines two vastly different ideas into a single idea, often using imagery. An example of this is his equation of lovers with saints in "The Canonization". Unlike the conceits found in other Elizabethan poetry, most notably Petrarchan conceits, which formed clichéd comparisons between more closely related objects (such as a rose and love), metaphysical conceits go to a greater depth in comparing two completely unlike objects. One of the most famous of Donne's conceits is found in "A Valediction: Forbidding Mourning" where he compares two lovers who are separated to the two legs of a compass.
Donne's works are also witty, employing paradoxes, puns, and subtle yet remarkable analogies. His pieces are often ironic and cynical, especially regarding love and human motives. Common subjects of Donne's poems are love (especially in his early life), death (especially after his wife's death), and religion.
John Donne's poetry represented a shift from classical forms to more personal poetry. Donne is noted for his poetic metre, which was structured with changing and jagged rhythms that closely resemble casual speech (it was for this that the more classical-minded Ben Jonson commented that "Donne, for not keeping of accent, deserved hanging"
.
Some scholars believe that Donne's literary works reflect the changing trends of his life, with love poetry and satires from his youth and religious sermons during his later years. Other scholars, such as Helen Gardner, question the validity of this dating—most of his poems were published posthumously (1633). The exception to these is his Anniversaries, which were published in 1612 and Devotions upon Emergent Occasions published in 1624. His sermons are also dated, sometimes specifically by date and year.
The world’s 400 richest people lost almost $194 billion this week as world stock markets began the year with a shudder on poor economic data in China and falling oil prices.
Forty-seven billionaires lost $1 billion or more during the worst week for U.S. stocks since 2011, according to the Bloomberg Billionaires Index. The combined drop was almost seven times the $29 billion lost in the first five trading days of 2015. The 400 people on the index had a combined $3.7 trillion at the end of the week, compared with more than $4 trillion a year ago.
Amazon.com founder Jeff Bezos, the best-performing billionaire in 2015, lost the most, his fortune dropping $5.9 billion this week as shares of the world’s largest online retailer fell more than 10 percent. Bezos is the world’s fourth-richest person with $53.7 billion and more than doubled his net worth in 2015 as investors cheered profits at Amazon...
http://www.bloomberg.com/news/articles/2016-01-08/world-s-richest-lose-194-billion-in-first-trading-week-of-2016
I tmust of been my comment about needing thicker skin. Again 