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Question of the Week

(Yesterday's replies were so amazing I would like to continue to hear your voice.)

What would you consider paradise on earth?
Post your answer below.

Morning Commentary

Mark Your Calendar...Again

By Charles Payne, CEO & Principal Analyst
12/24/2013 6:14 AM

Hosting Varney & Co on Fox Business Network 9:15 EST

"... There were three main schools, the Chaldean, the Egyptian, and the Greek; and to these a fourth was added in our country by Caesar during his dictatorship, who with the assistance of the learned astronomer Sosigenes (Sosigene perito scientiae eius adhibito) brought the separate years back into conformity with the course of the sun."  ~Pliny's Natural History

Despite being the most powerful empire on earth to date, the old Roman calendar had enormous shortfalls, which caused innumerous problems.  Enter Julius Caesar, who introduced a new calendar of 365 days instead of 355, and the inclusion of leap day (the last day of February, every four years).   As Emperor, Julius Caesar could more or less do as he pleased (until he pushed too hard...but that's another story.)  The crafting of a new calendar was no frivolous undertaking.   After considerable thought and with the assistance of Sosigenes, the Julian calendar made its debut January 1, 45 B.C. (also known as January 1, 709 A.U.C (ab urbe condita- "from the founding of the city [Rome]").

Fast-forward to December 2013, and we find a would-be emperor, who does not quite have the power to change the calendar, but with carte blanche to alter laws shifting the deadline for his new healthcare law once again.  The grand scheme to insure all Americans pushed through with dictatorial determination, against the wishes of at least half the citizens, has been easier to conceive than to implement.   The problem is the law and its myriad of changing rules that seem more akin to going from the Julian calendar to the Roman calendar.  In other words, it is a step backwards.   Be that as it may, we are told there will be conformity; not with the course of the sun, but the whims of the president.

So, today is the deadline for enrolling in ObamaCare for those seeking healthcare coverage at the start of 2014?  This is the third deadline and more than likely, it will be followed by  additional deadlines for hardship and goodwill exceptions, among other categories yet to be named.   As for rule changes to the law itself, I've lost count, which isn't a big deal since this sloppy patchwork of corrections only weighs down this disaster more-making it sink faster.   Yet I can see why delusions of grandeur are so attractive.  Julius Caesar's name will live on forever, as part of the western calendar and as long as mankind marvels at his reign.

Hail Caesar

Not to be outdone, Augustus Caesar, Julius' grandnephew and heir, was awarded his own month after defeating Marc Anthony and Cleopatra.   Months in the original calendar alternated between 30 and 31 days; but one less day wouldn't due for Augustus, so a day was snatched from February, while other months saw their lengths adjusted as well.

By the way, Claudius and Nero attempted to have months named in their honor as well, but those changes were short-lived.

Gregorian calendar

Crazy Tales of Implementation

England implementation of the Gregorian calendar resulted in the omission of eleven days between September 2 and September 14 which caused considerable up roared captured in William Hogarth's "An Election Entertainment."

For all its strengths -there were still faults with the calendar presented by Julius Caesar; so enter Pope Gregory XIII, whose additional reforms ushered in a calendar named in his honor in 1582.  The calendar didn't meet with universal acceptance, with Russia waiting until 1917 and China waiting until 1948 to make the switch.

The implementation in the UK and its colonies was met with some resistance, (see sidebar) although stories of riots were probably exaggerated.

The calendar is still used by the Eastern Orthodox Church and the Berbers of North Africa.

In addition to more changes, we should brace for the ultimate sales pitch; to not allow the perfect to be the enemy of the good.   As great as the Gregorian calendar is it’s not perfect losing a day every 3,236 years.   Of course, ObamaCare is not the Gregorian calendar or the Julian calendar, or even the Roman calendar.  In fact, maybe its closest comparison would be the disastrous end of the Mayan calendar.  The plan is rapidly collapsing before our very eyes.  It seeks to make laws of nature and math, conform to ideology, and the ego of a president.  It's not going to happen; the longer it exists the more difficult it will be to repair the damage.

Even the most famous dictator in history understood that there were certain things imperial powers were limited in being able to control.  When that realization hits home, maybe President Obama will turn back the clock, maybe.

Durable Goods

Durable goods orders for November were the latest in a growing list of good economic data. New orders for durable goods were up 3.5% month to month, well above the consensus estimate calling for a 1.5% increase. Also, excluding the volatile transportation readings, orders were up 1.2% which beat the 0.8% consensus. The results were driven by solid increases in machinery (+3.8%), computers (+5.3%) and communication equipment (+13.0%), among other things.

 There was also a strong reading out of non-defense capital goods orders (ex. aircraft), which investors like to look at as an indicator of capital spending. Those orders showed a 4.5% increase, or $2.97 billion. That was a big boost following a few months of weakness starting in the summer.

Yesterday’s personal income and spending data showed a 0.2% gain month to month in income and a 0.5% gain in spending. That translates into a 2.3% increase in incomes and a 3.5% increase in spending versus consensus estimates for 3.4% and 3.1%, respectively. Incomes could have been better, but along with that, the savings rate also declined to 4.2% -- the lowest since February -- indicating consumers are opening their wallets again. Thus, there appear to be opportunities in retail heading into 2014.

Note: There will not be an afternoon update...

Merry Christmas and God Bless


Comments
I learned something today. I thought that year one of our calender began as year one on the birth of Jesus The comparisons between ancient Rome and us are disconcerting, as Rome fell from within, and with Obama in power, we might be next? Merry Christmas Charles!

Ed Schneider on 12/24/2013 10:24:48 AM
I am constantly amazed by the stupidity of the mass media people. It is not that they are ignorant (without knowledge), but that they are stupid (lacking ability to reason). They have finally caught on that Obama intends to fund the massive excesses of Obamadontcare on the backs of the youth who voted him in. His intent is to charge those young adults who work several times their payback in order to cover the costs of his target groups like homosexuals, druggies, and sloths who have extremely high health costs. And the stupid media think this will work. What they do not realize is that health care industry and young working adults will find a way have appropriately priced health packages under the free market system. They will NEVER become part of the funding for his target group until health care is fully federalized. And if it is federalized, it will be repealed because Medicare is proof that no federal health care program is capable of satisfying the electorate. King Obama and his debacle are both destined to failure.

As far as paradise, Obama pretends that his view of paradise includes virtually free health care for all. But, if people don't have to work for what they get, their health is significantly worse, so that pipe dream is a self-destroying vision.

Bob G on 12/24/2013 11:01:21 AM
Christ returning. ( That would cure everything) Merry Christmas to you and yours. :)

Jan Morris on 12/24/2013 11:20:04 AM
An earth without dictators and despots who murder their own people and steal/rape their countries financially to put into their private bank accounts. An earth without Obama and his ultra-left ilk.

Diane Gorin on 12/24/2013 12:50:59 PM
WE armed, fought, and won WWII in the same time period that the ACA Internet Portal has failed.

Art Schmidt on 12/24/2013 1:58:38 PM
San Francisco in the late '60s, while it was still innocent.

Patricia Flynn on 12/24/2013 3:45:35 PM
I live in it - the Big Island of Hawaii. Great weather; friends and neighbors full of the aloha spirit; golf every day; interesting visitors from all over the world; beauty as far as the eye can see. Can't beat it with a stick.

Kerry on 12/24/2013 5:37:05 PM
Utopian dreams, like the Garden of Eden, are probably rooted in our prenatal experience in the womb where all our needs were met, we lived in perfect comfort, and our only music was the comforting sound of our mother's voice and the reassuring throb of her heartbeat. As long as that continued, we were safe. However, having been cruelly ejected into the real world with its constant threat of trauma, it's not surprising that so many of us are tempted to try to recreate what was once so comforting. So far, nobody has been able to do it, not even free market capitalism with its constant search for equilibrium between supply and demand. The flaw in every system is the same: greedy, selfish, power-hungry human nature. The only hope is turning to a power greater than oneself and humbly accepting that as the only workable solution to the human dilemma. To believe in God is to know that all the rules will be fair. That's been affirmed by millions of folks in recovery programs like AA. Even they didn't work until they embraced the concept of surrender to a higher power. Look at Bernie Madoff. He had the perfect system until they caught him.

Dennis Howard on 12/24/2013 6:55:36 PM
My vision of a perfect world is that each individual would follow "The Golden Rule" and " The Ten Commandments". Each individual's heart would be filled with loving kindness for all mankind.

Charlene Voss on 12/25/2013 12:45:58 PM
 

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