Four stray thoughts from a quiet Sunday morning

1). It seems that the Gramscian surge through the educational system has left young Americans with virtually no knowledge of the foundation of their country. So it is only the old guys these days that know anything about that. I wonder if even the old guys know enough, however. How many people know, for instance, how "created equal" got into the Declaration of Independence? It sounds emabarrassingly socialist, does it not? And how come Jefferson, who admired Christ but didn't think Christ was God (which makes me a Jeffersonian, I guess) put something so religious into the Declaration? Did Jefferson just have a brainwave one day, write it all down and everyone promptly said "Great"?

I think you can guess the answer. The Declaration was the endpoint of a LOT of debate and controversy. The original draft had "born free" where Jefferson put "created equal". So why the change? "Born free" sounds a heap better to me: Conservative rather than socialist. The Jeffersonian version was in fact a stroke of genius. The slave States would NOT allow "born free", as that would be a clear condemnation of their own practices. So a compromise would have to be found that kept the South onside. Various clumsy compromise wordings were tried but Jefferson's version was greeted as a triumph. It was vague enough to suit everybody and sounded really good.

One book that gives a very detailed account, with documentation, of the whole pre-Declaration discussions is Slave Nation but the authors are Left-leaning so they get carried away in the end and claim that the revolution was fought to defend slavery! Balance seems to be just too hard for Leftists. The fact that a right to "liberty" was included in the next sentence of the Declaration doesn't seem to give them any trouble at all. It didn't give the slaveowners any trouble either. Strange company they find themselves in.

2). I am amazed that so many stockmarket investors are being so foolish at the moment. Selling when the market is way down is just about the most foolish thing imaginable. Yet people seem to be doing it in droves. My portfolio is down by a third in value but if I had any loose cash I would be buying now, not selling. The new high is always higher than the old high. You just have to be a bit patient. And my dividends are still coming in much as usual so why should I worry?

3). Australian banks have been only marginally affected by the financial crisis. Australia has a large minority population too but most of ours are Han Chinese. And I doubt that any Chinese has ever walked away from a mortgage. They just work harder. I am a great fan of the Han! My son has similar views -- as you will see from the photo of him below:

OK. I guess it is a bit gratuitous to put up a picture of my son but if a father cannot be proud of his son, it's not much of a life, is it?

4). Did you know that there are no Chinese in China (sort of)? "China" means the land of the Chin and the Chin dynasty is long gone. Chinese usually refer to their country as "The middle kingdom" and the majority race in China is the Han (Yes. China has minorities too). But you find Han people throughout Asia: Thailand, Malaysia etc. There are even Chinese restaurants in India! I went to one there once.