Profile

Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa
27 June 2017 | Pago Pago, American Samoa

The Rise of Wall Street

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
In a short period of time, the financial sector has gone from 2% of the economy to over 15%, while its financial intermediation function has not materially changed.

In my view, a principal explanation for the growth of the financial sector is their development and sale of economic rent or passive income acquisition opportunities to the rich and wealthy. But the rich and wealthy are no longer their sole bread and butter. They keep some for themselves.

Even as national banks, they aggressively participate in the economic rent or passive income opportunities they develop for themselves and others, often with our money. It generates big money, but it is all bogus and comes at the expense of real productive economic and investment activity. Money is diverted from consumption and real investment. America decays and withers, especially the bottom 50%, in significant part because of it.

The bulk of income of the very rich and super rich is in the form of economic rents and passive incomes. Almost 80 % percent of it, with the rest from business income and salaries, also inflated.

The Street lives like leeches on passive income and rents. So do the rich and super rich. Intermediation is now the least of what Wall Street does.

Core Republican and Conservative Economic Ignorance

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
A) Republicans and conservatives are genetically it seems incapable of understanding:

1) the circular flow of expenditures and receipts, or that

2) yesterday's expenditures become tomorrow's income, or that

3) government expenditures likewise lead to tomorrow's income, or that

4) cutting government expenditures causes national income to fall.

B) They are too caught up with their mantras of

1) "cut taxes and spending,"
2) "shrink government" and
3) "stop government interference"

And they do not understand that --

Big Government Leads to Greater Growth and More Personal and Economic Freedom.

This is an awful lot to get wrong economically.


The Koch Brothers and Their Friends

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
Query: The Koch brothers are old, what is it they really want?

Answer: They want to pay no taxes, have no government interference with the pollution and other problems they generate with and by their industries, and they want government gone, so they can do what they want (with and to the rest of us). Together they are worth about $100 billion and their friends together, much much, more. Both hold advanced degrees from MIT.

They are arch libertarians and have spent over $3.5 billion since about 1975 (or about $9 billion if their friends are included) generating libertarian economic propaganda to sway the American public to their views (lower taxes; smaller government; and no government interference -- deregulation).

This is done mostly through their bogus think tanks, some with political action arms, which they fund annually, but they also heavily fund research in several lesser universities.

More than anything they and their friends account for the swing to the hard far right of so many Americans, who do not even know, and will not believe their views are the result of propaganda. But if we go back to the 50's, 60's and early 70's, they barely existed and were a very tiny band. I know because I was around and aware then. I have watch the impact, the propaganda and the rise of the hard far right.

It has been the world's greatest propaganda effort, far surpassing anything Goebbels did in Germany.

People Have Trouble Understanding Hoarding

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
Money not being idle or not stuck under a mattress DOES NOT MEAN it is spent on current consumption or real investment in productive capacity, the only two options for money to be used in the manner of Say's law or in the real economy. That is the test. All other uses and activity are a variety of hoarding, often just pushing up prices of secondary assets -- issued stocks, issued bonds, the existing housing stock, existing art, land, etc., ad nauseum. This is how and why the financial economy grows and has become a parasitic distraction and diversion from the real economy

This the best way to look at the matter as well because it is focused on what is going on in the Say's or the real economy and what rests or circulates outside of it, most often in the financial economy, not contributing to the circular flow of money against the flow of new goods and services and new productive capacity in the real economy.

Everyone ever and always loses sight of the real, productive economy and becomes bogged down in the machinations of the financial economy and the hoarding that goes on within it. They lose sight and economic perspective. Many think, from the financial press, that is the real economy. Actually the real economy is much better reflected in the Fed's Beige Book quarterly reports by Fed district.

That is why the alternative perspectives suggested by many lose out. They literally cannot see what is real and what is not in regard to the economy and make silly arguments like investing in the stock market is real investment, not realizing it is a casino shuffle of hoarded money with prices likely to rise as more money joins in with their hoarded money. The real economy is no part of this foolishness.

The perspective is also useful because it lets you understand how the financial sector has grown from 2 percent of the real economy (when it mostly just financial intermediation) to 15% of the combined real and financial economy. Wall street is very busy developing new ways "to invest" your hoarded money from packaged debt backed ETFs to synthetic derivatives, all with clever sounding names and all designed with a noteworthy "house take."

It resembles a casino operation in more ways than one. Pieces of it are a part of the real economy, but most activity in it is just different varieties of hoarding with money going in, money going out, delays along each way, but a huge pile in the middle, just and simply hoarded. That is, not engaged or a part of the real consumption of goods and services and not engaged in real investment in new productive capacity. It is a huge financial superstructure imposed on top of the real economy for the sharks of Wall Street to snare or chisel at your hoarded money and make their living. It is substantially parasitic. Their fees, are also substantial.

Meanwhile, people struggle and quibble with the basics, like an airplane unable to get off the ground, precluding a more sophisticated and complex analysis that would be more interesting, at least to me.

People Have Trouble Understanding Hoarding

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
Money not being idle or not stuck under a mattress DOES NOT MEAN it is spent on current consumption or real investment in productive capacity, the only two options for money to be used in the manner of Say's law or in the real economy. That is the test. All other uses and activity are a variety of hoarding, often just pushing up prices of secondary assets -- issued stocks, issued bonds, the existing housing stock, existing art, land, etc., ad nauseum. This is how and why the financial economy grows and has become a parasitic distraction and diversion from the real economy

This the best way to look at the matter as well because it is focused on what is going on in the Say's or the real economy and what rests or circulates outside of it, most often in the financial economy, not contributing to the circular flow of money against the flow of new goods and services and new productive capacity in the real economy.

Everyone ever and always loses sight of the real, productive economy and becomes bogged down in the machinations of the financial economy and the hoarding that goes on within it. They lose sight and economic perspective. Many think, from the financial press, that is the real economy. Actually the real economy is much better reflected in the Fed's Beige Book quarterly reports by Fed district.

That is why the alternative perspectives suggested by many lose out. They literally cannot see what is real and what is not in regard to the economy and make silly arguments like investing in the stock market is real investment, not realizing it is a casino shuffle of hoarded money with prices likely to rise as more money joins in with their hoarded money. The real economy is no part of this foolishness.

The perspective is also useful because it lets you understand how the financial sector has grown from 2 percent of the real economy (when it mostly just financial intermediation) to 15% of the combined real and financial economy. Wall street is very busy developing new ways "to invest" your hoarded money from packaged debt backed ETFs to synthetic derivatives, all with clever sounding names and all designed with a noteworthy "house take."

It resembles a casino operation in more ways than one. Pieces of it are a part of the real economy, but most activity in it is just different varieties of hoarding with money going in, money going out, delays along each way, but a huge pile in the middle, just and simply hoarded. That is, not engaged or a part of the real consumption of goods and services and not engaged in real investment in new productive capacity. It is a huge financial superstructure imposed on top of the real economy for the sharks of Wall Street to snare or chisel at your hoarded money and make their living. It is substantially parasitic. Their fees, are also substantial.

Meanwhile, people struggle and quibble with the basics, like an airplane unable to get off the ground, precluding a more sophisticated and complex analysis that would be more interesting, at least to me.

The Causes of the 2008 Crashes (an Accurate Outline)

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
The Community Reinvestment Act, Fannie Mae, Freddie Mac, and the federal government played minimal roles in the housing and financial crashes and the ensuing Great Recession.The government did not mandate or induce a housing bubble any more than at any other time, as some claim. The government did, however, allow the financial crisis by removing financial regulations that had successfully prevented it earlier.

Greedy private mortgage brokers nationwide and their equally greedy private lenders caused the bubble for the most part, along with Wall Street, when those brokers and lenders discovered and realized they could abandon their lending standards and sell even their questionable mortgage loans to Wall Street, grabbing and splitting the huge up front mortgage fees involved.

Wall Street in turn became a big buyer of many new bad or questionable mortgages when it found out it could bundle them with with good mortgages into mortgage backed securities (MBS) that it could sell off as investment grade assets to the larger financial community, including pension funds. Goldman Sachs' bogus risk modeling was confirmed as legit by the rating agencies seeking additional fees without review.

This huge and new channel for the creation, sale and purchase of bad and marginal mortgages is what drove housing prices through the roof, along with the bandwagon effect of others jumping in to seek capital gains in the market as well, when they saw prices rise.

When housing prices eventually crashed, Wall Street held a large quantity of bad mortgages off their books that they were going to package into MBS that suddenly became almost worthless and because their books were consequentially bogus no one would loan to them, they would not loan to each other, and all faced a huge liquidity crises, Lehman Bros. went billy up; others, when the government intervened, were acquired, almost by force, by bigger entities, in some instances as a condition for receiving bailout monies. The entire shadow investment banking industry collapsed and disappeared. The government also bailed out the big banks that would have otherwise gone under, too.

The Justice Department and the FBI, after a huge investigation, said it had never seen such massive fraud on a nationwide scale among brokers, lenders and on Wall Street they and they were preparing for nationwide litigation against thousands, but the SEC stepped in and blocked the FBI and Justice Department from acting, by sucessfully claiming exclusive jurisdiction, and then never itself acting. At one point, before the plug was pulled, the FBI had over 400 agents in the field nationwide and in New York investigating and putting cases together with over 150 working in the subprime market alone.

Too many don't understand this and harbor all sorts of silly notions on causation. Libertarians of course blamed government interference, although many were among those earlier pushing for the deregulation that allowed it to happen. Republicans also blamed the government, claiming it encouraged mortgage lending and allowed for easy money by the Fed, although almost 70 percent of the funds were private monies from lenders like Countrywide.

No one was tried, sentenced and went to jail -- no lender, no broker, no Wall Street executive and no rating agency official. Wall Street survivors gave their senior executives big bonuses the next year for what they did.

On Government Intervention in the Economy

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
Socialism has no good defense, theoretically or practically and neither does capitalism. For that reason, all the advanced economies of the world are mixed economies which use government for collective action where markets fail or are dysfunctional and markets everywhere else. Only fundamentalists or libertarians argue for pure capitalism and no government interference in the markets which they deem holy as a matter of dogma. Economists know better.

Economists focus on where and why markets are dysfunctional or fail and then attempt to engineer systems which emulate to the extent practicable the results of markets if they could operate well and were not dysfunctional. (Libertarians reverse this and claim any problems are due to prior government interference, a fallacy and a real tell on being a libertarian.) National single payor health care is a good example.

Of the 34 advanced OCED nations, all have single payer national system EXCEPT the US. As a consequence, the US population pays double on average, gets far fewer doctor hours of attention and has worse treatment outcomes in all areas except cancer -- all as compared to the other 33 OCED advanced nations. It is only because of Libertarians, economic ignorance and the campaign contributions that healthcare insurers make to our corrupt congress, that we too do not have a national single payor healthcare system. As I point out, we pay big time for our bad results.

But this is just one example. There are many others. Our whole social safety net is an effort to ameliorate the inequities resulting from our seriously skewed distribution of income where the top 10 percent get most of the nation's income. Excessive inequality of income and wealth are problems our nation won't address again because of Libertarians, economic ignorance and the campaign contributions that the rich and wealthy make to our corrupt congress.

Other advanced OCED nations, but not all, have solved this problem well, especially those of north Europe and the Scandinavian countries which have excellent mixed economies and much less income inequality, high standards of living, good infrastructures, free or low cost education, great healthcare systems and, according to many surveys, have happier people than in other nations.

We are very arrogant not to learn from them

The Brilliance of Keynes Again

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
If Keynes had continued to live he would have written the book Piketty did, Capital in the 21st Century. In his 1930 essay, "Economic Possibilities of Our Grandchildren," he said:

"From the sixteenth century, with a cumulative crescendo after the eighteenth, the great age of science and technical inventions began, which since the beginning of the nineteenth century has been in full flood--coal, steam, electricity, petrol, steel, rubber, cotton, the chemical industries, automatic machinery and the methods of mass production, wireless, printing, Newton, Darwin, and Einstein, and thousands of other things and men too famous and familiar to catalogue.

"What is the result? In spite of an enormous growth in the population of the world, which it has been necessary to equip with houses and machines, the average standard of life in Europe and the United States has been raised, I think, about fourfold. The growth of capital has been on a scale which is far beyond a hundredfold of what any previous age had known. And from now on we need not expect so great an increase of population.

"If capital increases, say, 2 per cent per annum, the capital equipment of the world will have increased by a half in twenty years, and seven and a half times in a hundred years. Think of this in terms of material things--houses, transport, and the like. . . .
______

Observe how well Keynes focused on the real economy and we don't. We spend all our time looking at finance and barely know what capital is. Note, too, how he focused on real capital accumulation per annum. He would surely have reached Piketty's conclusions had he just lived long enough.
______

In the same little essay, Keynes also made a forecast, as Sam Costanzo reminds us and goes on about. I quote Sam (also a serious and well trained economist):

His forecast of an eight fold increase in income and great increase in leisure time by 2030 was based on avoiding bouts of depression like the one that developing as he wrote the essay, but despite the Great Depression, a world war, and a string of recessions and financial disruption in the meantime, we are still on track to fulfill his prediction because science and technology have advanced much faster than he had imagined.

There will obviously not be enough jobs after artificial intelligence, automation and robotics become more fully developed. Driverless vehicles alone will eliminate 13,000,000 jobs (about 10% of the workforce). We have three choices:

1. Pay half the population not to work.
2. Reduce the std workweek to 3 days or less with no reduction of income.
3. Employ the bottom half of the population as domestic servants for the top half.

Number 3 will occur naturally if we do nothing, but is too akin to slavery to last, and a sure recipe for violent revolution.

Enormous societal changes are inevitable though we hear virtually no discussion of the shape it should take.
_____

I add our political leadership fight for austerity and a balanced budget. That is how far behind and unready they are for these developments. It is a sad state for our affairs.

Progressive Sketches for Memorial Day

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
1) "Damn, George, Isn't today some kinda Holiday? Let's go fishing."

2) "Clara, It's Veterans' Day. We celebrate all those veterans who served in the Army."

3) "Mildred, it's a day we remember the war dead: you know that."

4) "Dad, imagine all those people dying and what they went through."

5) "That is a lot of suffering many went through before they died in our wars, Mike. Was it worth it?"

6) "Sue, I watched my childhood buddy suffer such pain in my arms before he died in Vietnam with me. This day has special meaning for me."

7) "Imagine all those veterans, Sam, were each somehow an old friend of yours and you had to watch each one die and feel the pain he suffered before he died and had his life cut short. It would be unimaginable and totally unbearable. But that is what happened, Sam, whether you really know it or not."

The Confusing Nature of Capital

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
Capital is first off not labor. It is also not the materials used in manufacture. It is the durable goods used in manufacture. The physical plants and equipment used to produce goods The machines to form tires. The molds to form castings. The stamping machines to stamp and shape metals.

It is also the value of that equipment, but not the value of other things or of cash per se. Cash can simply be hoarded as cash or near cash and has nothing to do with capital. These are hard concepts for most people who very much confuse things. And the problem is compounded these days because capital can be so much more in the modern age.

A patent is now a capital good. It allows its inventor the exclusive use of the invention or process. The owner (a patent may be sold, like a piece of plant and equipment) can license the non-exclusive use of the patent to others over and over again to the extent the market will bear. Unlike physical equipment, one user does not precluded another. when the patent expires, anyone may use the invention or process.

The same is true of a copywrite, trade dress protection (goes forward indefinitely), a trademark (an aid to sales), trade secrets, and other modern forms of capital. The value of these intangible rights is also capital, but again, it is not the same as just cash in hand of from stocks sold. These are modern developments in the concept of capital that are including as such in national income accounting and analysis, but most people are simply lost here and don't know what is what.

Hence this note.

A Path to Improved Economic Growth

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
The Fed has put the economy in a box. Its expansionary policies have pushed interest rates to zero but that creates problems. It generates excessive cash and near cash hoarding. It pushes leverage ratios up in pursuit of reasonable yields. It destroys saving. It exacerbates capital flow variability. Finally, and worst of all it renders customary monetary policy largely useless.

Fine, you say. Just raise interest rate to usual or historical levels and go from there. But that creates a problem. The interest burden on the national debt skyrockets and eats an impossible chunk out of the federal budget. MMTers don't much consider that, but we do, staying within the politically imposed federal budget restraint. So the question becomes how can matters be repaired.

Nobel Laureate Michael Spence has the right idea. For central banks to exit the low interest rate boxes they are in, the federal debt must be restructured, banks capitalizations must be improved and every fiscal effort must be made to restore aggregate demand and real investment. A coordinated fiscal policy push is being called for, along with debt restructuring, to restart the economy and raise interest rates to normal levels.

But how can the federal debt be restructured so higher interest rates are not a budgetary burden? First, much such debt is held by the federal government itself. It can just stop paying interest on that debt and reallocate budgets internally to the government so receipts are the same. They net out to zero anyway on this part of the national debt. Of course, that portion of the debt cannot be sold, but it isn't normally anyway.

Second, still staying within budgetary restraints, the Fed has the capacity to buy any quantity of federal bonds it choses on the open market and it does not need to be paid interest on those it buys. The Fed could, for example buy 1/3 of the rest of all bonds outstanding and not held by the government.and do it along any timeline profile it thought prudent.The inflationary consequences are likely to be zip because of huge income inequality and the propensity to hoard of the rich. Monetary policy does much work now anyway, right? There's the proof. Doubters would have tax hikes to pull liquidity out of the system if inflation came to be a problem.

These two steps alone could reduce the interest burden to the government massively, all staying with the federal budget restraint. Now, if additionally we abandoned that restraint and listened to the MMTers, we could simply use federal credit to buy back or call federal bonds and debt, to any extent we wanted. and to pay any interest load on any amount of debt we wanted, all subject to the limitation of inflation, of course. The real question becomes, what is the optimal amount of debt, all things considered, including the demand for it.

Now, out from under the burden of interest payments on the federal debt, the Fed could allow interest rates to rise to their natural levels, largely by getting out of the business of trying to fix rates and focusing on other means to regulate reserves and target the money supply. Friedman wasn't wrong here.

Now with debt restructured, we can focus on the rest of Spence's recommendation which is to make every fiscal effort to stabilize the economy and restore aggregate demand and real investment at the same time.

The point is we are not even trying.

A Star Has Risen: Ballerina Soloist Devon Teuscher

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
"It doesn't feel long ago that I watched and dreamt, from the back line of the corps, to one day take this final bow. Tonight I am overcome by love, gratitude, and humility from the journey that has lead to this evening. Thank you @abtofficial for supporting me and for giving me the honor of being your queen. #swanlake #dreamscometrue #ballet"

Ms. Teuscher is the complete package, a mixture of astonishing technique, grandeur and ease. She doesn’t show you how she’s dancing a role; rather, she embodies it with a natural vivacity of breathtaking coordination and elegant strength.

After her second performance — Ms. Teuscher having taken over as the understudy for an injured Gillian Murphy — she had more control over her emotions. But Kevin McKenzie, American Ballet Theater’s artistic director, didn’t. “He told me, ‘The first show you cried,’” she recalled. “‘The second show you made me cry.’”

The Bottom 90% in the US Have an Average Real Income Just Better than the Average Real Income In Greece

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
Amanda Perry and I just had an exchange from which we both concluded the US is the richest advanced nation in the world in terms of average per capita income, just behind Luxembourg on the OECD list of the 32 most advanced nations of the world The problem is all that income or money is in too few hands so the rest do not have enough and are much poorer.

So how much poorer is say the bottom 90% of the US? The bottom 90% -- if they were a nation unto themselves -- would be in the bottom 1/3 of the 32 advanced OECD nations in terms of real per capita income, just above Greece and just below Slovenia. That is how bad it is in the US -- how bad income inequality is in the US.

(If we were to look at the bottom 50% in the US, instead of the bottom 90%, the results would place this group near Mexico, which is at the bottom of the 32 OECD advanced nations. Average real income for US bottom 50% = $16,200. Average real income for Mexico $14,867, the lowest of the 32 advanced OECD countries. Next lowest OECD nation is Hungary with average real income of $19,999.)

Adjusted for inflation, the top 10 percent of earners in the United States made, on average, $144,418 in 1979 and $254,449 in 2012. That’s about 76 percent growth.

The bottom 90 percent of earners, on the other hand, made $33,526 in 1979 and $30,438 in 2012. That’s a decrease of about 9 percent.

Now is this a fucked up country or what? And who is doing anything about it? Republicans want tax CUTS for the rich.

The Bottom 90% in the US Have an Average Real Income Just Better than the Average Real Income In Greece

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
Amanda Perry and I just had an exchange from which we both concluded the US is the richest advanced nation in the world in terms of average per capita income, just behind Luxembourg on the OECD list of the 32 most advanced nations of the world The problem is all that income or money is in too few hands so the rest do not have enough and are much poorer.

So how much poorer is say the bottom 90% of the US? The bottom 90% -- if they were a nation unto themselves -- would be in the bottom 1/3 of the 32 advanced OECD nations in terms of real per capita income, just above Greece and just below Slovenia. That is how bad it is in the US -- how bad income inequality is in the US.

(If we were to look at the bottom 50% in the US, instead of the bottom 90%, the results would place this group near Mexico, which is at the bottom of the 32 OECD advanced nations. Average real income for US bottom 50% = $16,200. Average real income for Mexico $14,867, the lowest of the 32 advanced OECD countries. Next lowest OECD nation is Hungary with average real income of $19,999.)

Adjusted for inflation, the top 10 percent of earners in the United States made, on average, $144,418 in 1979 and $254,449 in 2012. That’s about 76 percent growth.

The bottom 90 percent of earners, on the other hand, made $33,526 in 1979 and $30,438 in 2012. That’s a decrease of about 9 percent.

Now is this a fucked up country or what? And who is doing anything about it? Republicans want tax CUTS for the rich.

The Plight of America's Bottom 50%

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
Average annual real income for bottom 50% of Americans is $16,200, compared to $14,867 for Mexico, the lowest of the OECD 32 advanced nations of the world and $19,999 for Hungary, the next lowest OECD advanced nation.

"This group — the approximately 117 million adults stuck on the lower half of the income ladder — “has been completely shut off from economic growth since the 1970s,” a team of economists found. “Even after taxes and transfers, there has been close to zero growth for working-age adults in the bottom 50 percent.” NY Times
Vessel Name: Altaira
Vessel Make/Model: A Fair Weather Mariner 39 is a fast (PHRF 132), heavily ballasted (43%), high-aspect (6:1), stiff, comfortable, offshore performance cruiser by Bob Perry that goes to wind well (30 deg w/ good headway) and is also good up and down the Beaufort scale.
Hailing Port: Lake Pleasant, AZ
Crew: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
About:
Kimball Corson: I am a 75 year old solo sailor, by choice. However, I did take on a personable, but high maintenance female kitten, now a full grown cat, named KiKiPoo when she is sweet, or KatKatPo after she has just killed something like a bird or bat. [...]
Extra:
Although I was a lawyer and practiced law with good success for thirty years, creating significant new law, I never really believed in the law, the politics of law or in the over reaching self-interest of most lawyers I met. Too much exposure to Nietzsche and other good and seriously thoughtful [...]
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Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ