The Twelve Days of Christmas (Rink Rats Style)

On The First Day of Christmas – The Christmas Party (sorry, Holiday Party) circuit has concluded for another year, here are some debriefing notes:

Best drink – Red Rooster Punch.

Best Party Snack – Lamb Meat Balls

Lamest Holiday Party Song – “We Are Family” by Sister Sledge

Biggest Rip Off - $12.00 ($15.30 Canadian) for a half shot drink at the Pomona Fairplex, the Pomona Fairplex, really!

Comings and Goings Gossip – POTUS Trump is still a weirdo, but wait and see what happens in the 2018 mid-term elections. Then it will be interesting.  Susan Collins will be the next President of The St. Lawrence University, Mark Morris will not return for the 2018-19 St. Lawrence University Hockey Season. Ken Holland will retire at the end of the current National Hockey League season from the Detroit Red Wings. Two members of the management team at a local University will be gone on July 1, 2018. On the recommendation of her Doctor, Hilary Clinton will not be seeking the 2020 Democratic Presidential nomination; she and Bill will be getting a divorce in 2018. Thank you Dr. Frankenstein.

Fox News, CNN, MSNBC, NPR are all hypocrites and pathetic news organizations.

On the Second Day of Christmas – Mike Francesa (63), The Godfather of sports’ talk radio, had his final broadcast at WFAN in New York. He is stepping down after thirty years at WFAN. Christopher Russo (58), Sirius Channel 82, is now the undisputed ruler of daily sports’ talk radio.

On the Third Day of Christmas – I received a call from my CPA from the accounting firm Dewey, Cheatum and Howe. He explained the new Republican Tax bill as follows:

The child tax credit has been made more refundable than in the Senate bill. It's now $2,000 per child, with $1,400 of this refundable for families who have no income tax liability.

The corporate rate will be 21% beginning in 2018.

The top individual rate is 37%. There are seven brackets, and the lowest rate is 10%.

Most of us are getting a tax cut, but not all of us and not forever. And if you're rich, the tax bill benefits you much more.

According to the Joint Committee on Taxation, taxes overall would fall by 8 percent in 2019, with every bracket seeing a decline, on average. But while people earning between $20,000 and $30,000 would see their taxes fall by 13.5 percent, by 2021, people earning that same amount would see their tax bills go up by 8.6 percent.

Separately, a Tax Policy Center analysis finds that 80 percent of taxpayers would see a tax cut next year - averaging $2,100 a year. But 5 percent would face a tax increase averaging $2,800, while the rest would see essentially no change. 

On the Fourth Day of Christmas – Key issues involving Higher Education at this years’ end - 

ANIMAL HOUSE NO MORE: Amid worries about endemic binge drinking, sexual assault and a startling spate of deaths, schools are going beyond the old practice of shutting down individual [fraternity] houses to imposing broad restrictions on all Greek life.

Activities like fraternity parties and initiations have been suspended or curtailed at colleges including Ball State, Indiana University, Ohio State and the University of Michigan, as well as at least five where deaths have occurred this year: Florida State, Louisiana State, Penn State, Texas State and Iowa.

Why it matters ... There is definitely this moment in time where society is not willing to accept behavior that in the past has been acceptable. Sorry Sig Pi and Beta.

COLLEGE PRESIDENTS: POLITICAL BACKLASH 'A WAKE-UP CALL': Higher education leaders say they need to do more to combat charges of elitism that have fueled a public and

political backlash. There is an attempt to build a narrative of colleges and universities as out of touch and not politically diverse.

They fear higher education is becoming a political punching bag. The GOP's tax plan is the clearest and most recent example. The sweeping changes to the tax code will likely target universities in a way they've never been targeted before - including likely taxing the richest private schools' endowments. But charges of elitism have come from both sides of the political spectrum. Republicans, including the Trump administration, have complained that free speech is being stifled on campuses and have questioned the value of a four-year degree for some students. Republicans and Democrats alike have blasted rapidly rising tuition costs.

COLLEGE ENROLLMENT DIPS: Undergraduate college enrollment is down among U.S. adults, including traditional-age first-year students, according to a new report from the National Student Clearinghouse Research Center. Enrollment in undergraduate programs has been falling since the end of the recession, following a boom during the economic downturn among older adults. The 1.4 percent decline over last year can largely be attributed to declines in enrollment among adults in this group - people 24 and older seeking to enroll in undergraduate programs - and among those not seeking bachelor's degrees.

This year's dip is notable because the decrease among adults 18-24 who are enrolling in college for the first time is accelerating. Last year's 0.7 percent decline is now 1 percent. This suggests further declines to come overall in the years ahead, which will continue to present planning challenges for institutions and policymakers seeking to adapt to new economic and demographic realities.

On the Fifth Day of Christmas - FINANCIAL CRISIS: on this day marks the 10-year anniversary of the start of the Great Recession. To mark the occasion, the Cleveland Fed and the FDIC on Monday each released first-hand accounts of the financial crisis.

From the Cleveland Fed: "Bank loans were going sour. Bank stock prices were in free fall. Big-name firms were outright failing or on the brink. As the housing bubble popped and the most severe financial crisis since the Great Depression tightened its grip on the US economy, the situation swiftly became an all-hands-on-deck state of affairs for the Federal Reserve. ... 'Things were moving at lightning speed,' says Jenni Frazer, who at the time was leading a team to supervise one of the largest banks in the region."

From the FDIC: "The nationwide housing expansion of the early 2000s was rooted in a combination of factors, including an extended period of low interest rates. By mid-2003, both long-term mortgage rates and the federal funds rate ... had declined to levels not seen in at least a generation. ... Other factors were in play as well in the years leading up to and during the housing market expansion. Financial innovation and deregulation contributed to an environment in which the U.S. and global financial systems became far more concentrated, more interconnected, and, in retrospect, far less stable than they had been in previous decades.

On the Sixth Day of Christmas – We celebrate birthdays of this week; Ramsey Clark (90) Bethesda, Maryland; Kirk Douglas (101) St. Lawrence University ’39; Pope Francis (91) Rome, Italy; Peter Hewitt ….entrepreneur, great husband, great friend, and father of Joey Hewitt. Nancy Newman …our favorite photographer.

On the Seventh Day of Christmas – A review of the Markets:

In the first 11 Months:  Dow Jones Industrial Index -           Obama +29.9%

                                                                                                                     Trump +25.0%

                                             S&P 500 -                                               Obama +36.9%

                                                                                                                       Trump +20.4%

The Dow Jones Industrial Average added 140 points Monday to notch its 70th record close this year. That tops the 69 Dow records set in 1995 and crowns 2017 as the most record-setting year in the 121-year history of the blue-chip benchmark.

Stocks are one good day away from the Dow topping 25000 for the first time; the technology-heavy Nasdaq Composite Index is knocking on the door of its first-ever finish above 7000.

Amid the breakthroughs, some analysts warn that the tax package lawmakers have passed could mark a short-term top in the rally. Few are willing to wager that the nearly nine-year bull market is on its last legs, however.

The likelihood for profit-boosting corporate tax cuts have been among the key drivers for U.S. stock gains this year, alongside improving economic conditions and ultra-low interest rates that leave investors little choice but to buy risky assets in hopes of meaningful returns.

The passage of the tax overhaul could mark a pivot in the stock market, the day President Donald Trump signs a tax bill into law will mark the market top, a sort of “sell the news” event as investors contemplate the new year.

Even if the stock market is up next year, it's highly unlikely do as well as it’s done this year.

That's because 2017 has been pretty flawless on multiple fronts. Strong returns and almost no volatility are tough to come by -- and tough to repeat -- but this year brought both.

The S&P 500 is up 20% with just seven sessions to go. Including dividends, it's returned 23%. Meanwhile, the Cboe Volatility Index, one measure of expected stock swings over the next 30 days, hasn't topped its long-term average of just over 19 once this year. On Tuesday, it finished at just over 10.

The S&P 500, already up 1.7% this month on a total return basis, is poised to have 12 straight months of positive returns in 2017, including dividends. It would be the first year since at least 1970 that's happened, according to The Wall Street Journal's Market Data Group.

That may not sound like much compared to the dramatic rise of bitcoin, which has multiplied in value many times over. One unit of the crypto-currency, worth less than $1,000 at the end of last year, was recently trading around $17,000.

But unlike bitcoin, it's been easy to own the stocks in the S&P 500 this year without your portfolio keeping you up at night. It’s the kind of smooth returns that typically come with hefty management fees. Instead, it's been available on any old index-tracking fund.

One way to see that is to look at the Sharpe ratio, which measures how much reward an investor gets for the amount of risk they take. A high ratio means investors are getting top-notch returns relative to risk. That ratio, at more than 5 this year for the S&P 500, is better than 99% of readings going back to 1926.

As it happens, many predict another year of stock market gains. Analysts tracked by Birinyi Associates forecast, on average, that the S&P 500 will rise 6.3% from Tuesday's closing level by the end of 2018.

On the Eighth Day of Christmas – OUT AND ABOUT were some boys from St. Lawrence University on both coasts sharing bottles of wine, and a pint or two.

Below L-R; Val Ireland, John Reinman, Jay Ireland, Bob Kirschner, Gene Golden, Hugh & Vickie Lappe, Teb Barnard (Franklin, Michigan) celebrate in NYC.

Below L-R; Reggie Dunlop and Peter Hewitt celebrate at Heroes in Claremont, CA the #1 nationally ranked D-III men’s basketball Whitman College Missionaries, sorry Blues, 96 to 67 victory over the University of La Verne Leopards. Joey Hewitt ’19 scored nineteen points for the Blues. Rink Rats also commends Windsor, California’s Cardinal Newman High School graduate Connor Head ’18 who scored twenty two points to lead the Leopards. Connor is a Business Administration Major.

Note: Plenty of lies were abundant on both coasts.

On the Ninth Day of Christmas – The National Hockey League celebrated the league’s One Hundredth Anniversary; Hockey looked very different when the N.H.L. played its first games 100 years ago. Arenas were smaller and darker. The players were also smaller, averaging about 5-foot-9 and 160 pounds. Even so, the best of them played close to 60 minutes a game.

Small rosters and few substitutions meant the game was slower. Equipment was limited and rather primitive, providing only minimal protection. Players did not hit nearly as hard as they do today. The rules were different too. Forward passing was not yet permitted in the N.H.L.; it would begin to be phased in during the 1918-19 season. When play began with two games on Dec. 19, 1917, goalies were not even allowed to drop to the ice to make a save.

That night, the Montreal Wanderers beat Toronto, 10-9, while the Montreal Canadiens beat the Ottawa Senators, 7-4. Joe Malone, who would score 44 goals in just 20 games played in 1917-18, had five goals for the Canadiens. Harry Hyland netted five for the Wanderers, while Reg Noble notched four for Toronto in a losing cause. Three nights later, the Canadiens scored an 11-2 victory over the Wanderers, while Toronto beat Ottawa, 11-4.

On the Tenth Day of Christmas – POTUS 2017; In fact, it's striking how little President Trump — and perceptions of President Trump — have changed as 2017 comes to a close:

He started 2017 with about 40% of the country with him, and ends 2017 with about 40% of the country with him.

He started 2017 haunted by Russian interference in the election, and ends 2017 haunted by Russian interference in the election.

He started 2017 with elected Republicans skeptical but compliant, and ends 2017 with elected Republicans skeptical but compliant.

He started 2017 with virtually every elected Democrat disliking him, and ends 2017 with virtually every elected Democrat disliking him.

He started 2017 at war with the mainstream media, and ends 2017 at odds with the mainstream media.

He started 2017 with accusations that he sexually harassed women, and ends 2017 with accusations that he sexually harassed women.

He started 2017 talking tough but doing little to China, and ends 2017 talking tough but doing little to China.

He started 2017 with a lot of top Republican talent not wanting to work for him, and ends 2017 with a lot of Republican top talent not wanting to work for him.

He started 2017 on Twitter, and most certainly will end 2017 on Twitter.

This is the rerun presidency: Every day feels like the last day. So it's safe to assume that 2018 will feel a lot like — wait for it — 2017.

On the Eleventh Day of Christmas – We determined our HOLIDAY READING; “Manias, Panics, and Crashes: A History of Financial Crises” by Robert Z. Aliber and Charles P. Kindleberger. Thinking of buying some bitcoin? A reread of this classic on what was behind past financial crises is a good refresher before you do. It’s the top of my reading list this holiday season. And after finishing it, I’ll be brushing up on my bitcoin “mining” skills by reading about the Secure Hash Algorithm-256.

“The Art of Thinking Clearly” by Rolf Dobelli. This book describes the most common cognitive biases, or thinking errors, people make, and is essential reading for improving investing decision making AND managing people.

On the Twelfth Day of Christmas - THE SWAMI MADE HIS PICKS:

NFL Football Pick of the Week – Sunday 12/24, 4:25 EDT, Fox: Seattle Seahawks (8-6) vs. Dallas Cowboys (8-6). The winner of this NFC game is still in the playoff hunt, the loser is fini. Dallas wins: 24 – 17.  (Season to date 9-6).

College Football Pick of the Week – Saturday 12/23, 3:30 PM EDT, ESPN: Bowl Season, Armed Forces Bowl from Ft. Worth Texas: San Diego State Aztecs (10-2) vs. Army Black Knights (9-3). Most bowl games this season are yawners , this is a good one; Aztecs win 38 – 30.   (Season to date 9-6)

NHL Pick of the Week – Saturday 12/23, 8:00 PM PDT, CSHB: Two Division leaders; Washington Capitals (22-12-1) vs. Vegas Golden Knights (22-9-2). Knights win 5 - 3.  Season to date (7-2).

NBA Pick of the Week – Monday 12/25 Noon PST, ABC: The annual Christmas Day NBA showcase, Cleveland Cavaliers (23-9) vs. Golden State Warriors (24-6), Huey says go with the Warriors, will do, 98 – 92. (season to date 0-0)

Season to Date (96 - 70)

Next Blog: 2017 Year in Review.

Until next time, Feliz Navidad

Claremont, California

December 21, 2017

#VIII-20-362

CARTOON OF THE WEEK – Merry Richness

The Christmas Party Circuit

I feel like I have a Christmas party to attend every week this month. Oh wait. That's because I do. It's easy to suffer from fatigue and lack of enthusiasm around this time of year as you try to accomplish all of your shopping, go to work, have some me time, and on top of all that try to look good in social settings.

Holiday parties are the perfect way to get everyone together for some fun festivities. This year I am staying away from the Ugly Snowman and Secret Santa parties.

Here are some Christmas (excuse me, Holiday) theme parties I would like to attend:

The Worst Present Party – Instead of spending money to outdo your friends on the best present in a gift exchange, aim to have the worst. The problem, what to do with them after.

Scrooge Party – Sick of all the holiday music playing since October 1, 24/7? Take a break with a holiday party fit for a Scrooge with Chinese takeout, top forty songs, and no sparkling lights in sight.

Christmas in Vegas Party – Bring sin city to the holiday party with some poker and black jack games. And remember. What happens at a Vegas-themed party stays at a Vegas-themed party.

A Sexual Harassment Training Christmas Party – Perfect for this time of year, enough said.

COLLEGE CHRONICLES – The proposed Republican tax plan passed in both the Senate and the House of Representatives this past weekend. Analysis from the Joint Committee on Taxation found that the plan benefits the wealthy the most.

Ninety-one percent of households that make between $500,000 and $1 million a year would see a tax cut of at least $500 a year. In addition, households that make between $100,000 and $200,000 a year would see the largest decrease in taxes. The tax plan has all sorts of provisions that can and will negatively impact students and their families.

Families who work at colleges or universities are often able to send their children to those institutions for reduced fees, sometimes with no tuition charge at all. But under the new tax plan, that tuition waiver or reduction could be taxed as income. In addition, families that earn below a certain income level can claim a tax credit for their children who attend college, but the Republican tax plan would reduce the value of this tax credit.

There are also the changes that could affect graduate students. A Ph.D. candidate at Massachusetts Institute of Technology estimated that taxes on graduate students could increase by nearly 400 percent. Graduate students typically do research for faculty members or teach undergraduate students in exchange for free tuition and a living stipend. But the Republican tax plan proposes a tax on the tuition waiver and the stipend that graduate students receive.

The Republican tax plan is taxing people for money that they will never see. It is hard enough for low-income families to send their children to college, even with scholarships and stipends. Introducing these taxes basically erases any relief that these scholarships may provide and introduces additional financial burdens for students and their families to shoulder.

The tax plan perpetuates the notion that college is for rich people who can afford to go, instead of a place where people from all backgrounds can come together and learn from one another. By introducing these tax plans, Republicans will gravely harm the way that colleges foster an intellectual environment for people from all backgrounds.

New tax bill in a nutshell:

Jet owners can write off jets.

Teachers can’t write off school supplies.

INTERNATIONAL STUDENT ENROLLMENT DOUBLED SINCE 2008 RECESSION - A new report from the Pew Research Center finds that international student enrollment has skyrocketed since the 2008 economic downturn. Per the report, from 2008 to 2016, the number of new foreign students at U.S. colleges and universities increased 104 percent - "far outpacing overall college enrollment growth, which was 3.4 percent during the same period, according to U.S. Census Bureau.

FINANCE FACT - Number of people who go bankrupt every year because of medical bills:

Britain: 0

France: 0

Japan: 0

Germany: 0

Canada: 0

USA: 643,000

HOLIDAY SEASON BUCKET LIST - This holiday season, stuff your 401(k) as well as your turkey.

It’s a good idea to take a look at your retirement plan during the holidays. 2017 is drawing to a close and that means holidays, parties, turkey dinners, friends and family. It also means being busy making lists, juggling schedules and maybe even fitting in some holiday travel.

It may seem like we’re asking a lot to add thinking about your retirement to your year-end activities, but we believe there are some easy items to check off your 401(k) to-do list that will get you ready for the New Year.

1. Markets are up, check your risk levels

Stock markets have hit all-time highs this year. Good news, right? We agree, but make sure to review your holdings, especially if you’re invested in stand-alone stock funds. All-time highs may mean you may now be taking on more market risk than you’re comfortable with. If so, consider rebalancing your holdings by moving some of your money from stocks to bonds, or, to keep it even simpler, consider moving to a target date fund, which takes care of the rebalancing for you.

2. Look out for your loved ones

Holiday cheer is in the air, kids are home from school and the office is the last thing on your mind, for good reason. That said, year-end is a great time to review and update your account beneficiaries, especially if you’ve had a major life event like a marriage or a newborn child. It may also be an ideal time to check in with parents to make sure they’re on track with their retirement savings or spending.

3. Whip out the calculator

Not sure if you’re on track for retirement? Consider using an online calculator to give yourself a check-up. Retirement may seem far off, but it’s a good idea to make sure the road ahead is well-paved. Surprises are meant for gift boxes; we want to avoid them, when we can, in terms of retirement preparedness. And if you are close to retirement, you might want to do an extra check to see the potential income your savings could generate.

4. Take what you can get

Make sure to max out any 401(k) contribution that your employer offers to match. Taking advantage of this corporate perk is often a big part of your final retirement savings balance. What’s to lose when there is free money on the table? If you’re falling short, consider boosting your final retirement contributions of the year to meet the match level, if possible.

5. Add 1%, and pat yourself on the back

If you anticipate a salary bump next year, consider putting part of it aside by signing up for a future contribution increase. If you time it to coincide with a raise, you probably won’t even notice the difference in your take-home pay. And, when invested and compounded over time, those extra savings can get you to the finish line faster.

So this season, add yourself and your loved ones to your list and give your retirement a financial boost. Because who needs New Year’s resolutions when you’ve got a great retirement savings plan in place!

SHUTDOWN AVERTED ... FOR NOW - The House and Senate cleared a short-term spending bill that will keep the government funded through Dec. 22nd but a White House meeting between Trump and congressional leadership produced no break-through on a two-year deal, setting up a big fiscal cliff just before Christmas.

Democrats want a DACA extension, Republicans want wall funding. Democrats want domestic spending parity for any military spending increase. Republicans don't. The ingredients are there for a significant fight and potential Christmas season shutdown.

UP AND AWAY - The U.S. economy is headed into the final stretch of 2017 powered by one of the sturdiest periods of growth in its nine-year expansion, helping drive stock-market indexes to new highs. The Dow Jones Industrial Average crossed the 24000 threshold, just 30 trading days after passing 23000. Consumer spending, home sales and business investment are among several recent indicators exhibiting strength, and investors are also cheering the prospect of more economic fuel in the form of tax cuts. The last two economic expansions derailed when asset prices overheated—tech stocks in the late 1990s and real estate in the mid-2000s. But investors aren’t fretting about that at this point.

BIRTHDAYS THIS WEEK – Birthday wishes and thoughts this week to Sen. Susan Collins (R-Maine) St. Lawrence ’74 (65); N.Y. Gov. Andrew Cuomo (60); Rep. Grace Napolitano (D-Calif.) (81).

HOMELESS - Top homeless populations in US, source: U.S. Dept. of Housing and Urban Development.

1. New York: homeless population, 76,501; unsheltered homeless, 5.1 percent

2. Los Angeles: homeless population: 55,188, unsheltered homeless: 74.7 percent.

3. Seattle: homeless population, 11.643, unsheltered homeless, 47.1 percent.

4. San Jose/Santa Clara: homeless population: 7,394; unsheltered homeless 73.7 percent

5. San Diego: homeless population, 9,160: unsheltered homeless, 61.4 percent

6. District of Columbia: homeless population, 7,394: unsheltered homeless, 12 percent

7. San Francisco: homeless population: 6,858, unsheltered homeless, 63.5 percent

MARKET WEEK - The Dow industrials may have hit a new milestone but shares of U.S. industrial companies continue to lag behind in the stock market’s rally.

That may be poised to change. Analysts see a turnaround for industrials next year as a firming economy stokes activity on the factory floor and prompts businesses to ramp up investment spending.

S&P 500 industrial stocks are up 15% over the past 12 months, a robust advance but one that is six percentage points behind the benchmark.

Some weakness can be explained by a single stock, General Electric Co., which dropped 43% over the past year. The conglomerate will continue to grapple with its slowing turbine business and a broad restructuring effort. Throw out GE, however, and the group is still a full three percentage points behind, notes Thomas Lee, U.S. portfolio strategist at Fundstrat Global Advisors.

Mr. Lee endorsed industrial stocks Friday, citing among other things economic data that show corporate expenditures are poised to rise. Federal Reserve Banks in Philadelphia, New York and Dallas all show brightening forecasts for future business spending by manufacturers. A Friday reading on manufacturing activity remained sturdy in November.

The dollar is another big-picture reason to expect industrials to fare better. Industrial stocks tend to outpace the S&P 500 when the U.S. dollar is weak, since manufactured goods priced in dollars get cheaper for overseas buyers; this year the opposite has been true. For Mr. Lee, the discrepancy should revert, meaning industrial stocks could be overdue to bounce.

A wild card is the tax overhaul circulating in Congress. The Senate bill would lower the corporate tax rate starting in 2019. That time frame could prompt companies to boost investment next year, since such spending could be deducted against a higher marginal tax rate, according to economists at Barclays. The flip side is that capital expenditure implications might be less pronounced depending on the law’s final contours.

BUBBLE OR REAL? - The price of bitcoin reached new highs Thursday, jumping about 40% in around 40 hours and smashing through five separate $1,000-barriers to surge past the $16,000 mark. Even for the notoriously volatile virtual currency, the upward lurch was jarring, astounding outsiders and thrilling those who have piled in. The rally has been sparked by the collision of bitcoin’s sudden faddish reputation and the anticipation of institutional investors entering the market. That momentum persists in the face of ever-present hurdles. A hack that led to $70 million in stolen bitcoin raises security questions, while some big Wall Street banks are hitting the brakes ahead of the debut of the first bitcoin futures market on Sunday.

Bitcoin was the first cryptocoin currency ever invented. No one knows exactly who created it – cryptocurrencies are designed for maximum anonymity – but bitcoins first appeared in 2009 from a developer supposedly named Satoshi Nakamoto.

Because Bitcoin was the first cryptocurrency to exist, all digital currencies created since then are called Altcoins, or alternative coins. Litecoin, Peercoin, Feathercoin, Ethereum and hundreds of other coins are all Altcoins because they are not Bitcoin.

One of the advantages of Bitcoin is that it can be stored offline on a person's local hardware. That process is called cold storage and it protects the currency from being taken by others. When the currency is stored on the internet somewhere (hot storage), there is high risk of it being stolen.

On the flip side, if a person loses access to the hardware that contains the bitcoins, the currency is simply gone forever. It's estimated that as much as $30 billion in bitcoins have been lost or misplaced by miners and investors. Nonetheless, Bitcoins remain incredibly popular as the most famous cryptocurrency over time.

Cryptocurrencies are just lines of computer code that hold monetary value. Those lines of code are created by electricity and high-performance computers.

Cryptocurrency is also known as digital currency. Either way, it is a form of digital public money that is created by painstaking mathematical computations and policed by millions of computer users called 'miners'. Physically, there is nothing to hold.

'Crypto' comes from the word cryptography, the security process used to protect transactions that send the lines of code out for purchases. Cryptography also controls the creation of new 'coins', the term used to describe specific amounts of code.

Governments have no control over the creation of cryptocurrencies, which is what initially made them so popular. Most cryptocurrencies begin with a market cap in mind, which means that their production will decrease over time thus, ideally, making any particular coin more valuable in the future.

SIGN OF THE TIMES - I understand that in 39 states the highest paid public employee is either an NCAA college football or basketball coach. The only thing crazier, is how much they're paid when they get fired!

GREAT BARNS - Legendary Appleton Arena, 130 Miner Street at St. Lawrence University. Great place, great history, don’t change it!

SWAMI’S WEEK TOP PICKS –

NFL Football Pick of the Week – Sunday 12/10, 1:25 PDT, Fox: Philadelphia Eagles (10-2) vs. Los Angeles Rams (9-3), perhaps a preview of the NFC title game. We like the upstart Rams to win 27 – 24.  (Season to date 7-6).

College Football Pick of the Week – Saturday 12/9, 9:00 AM PDT, CBS: Army (8-3) vs. Navy (6-5), loser of this one gets to go to North Korea first. Army wins in a wild one 40 – 38.   (Season to date 8-5)

D-III Football Pick of the Week – Saturday 12/9, 3:30 PM EDT: NCAA D-III National Semi-Final, #10 Brockport Golden Eagles (13-0) vs. #1 Mary Hardin-Baylor Crusaders (13-0). An upstate New York surprise in this years’ tournament, can they beat the powerful Crusaders. No, 45 – 30.  (Season to date 8-4)

College Hockey Pick of the Week – Saturday 12/9, 7:00 PM EDT: #3 Clarkson University Golden Knights (13-3-1) vs. St. Lawrence University Saints (1-12-1). All is not well in Larry Land, Coach Mark Morris is coming under attack from alumni and local fans, NCAA is investigating the hockey program, stay tuned. On the ice they battle hard but Clarkson prevails 4 – 3.   (Season to date 5-4)

NHL Pick of the Week – Saturday 12/9, 7:00 PM EDT (CBC): Toronto Maple Leafs (18-10-1) vs. Pittsburgh Penguins (16-11-3), Hockey Night in Canada is in Pittsburgh this week, Pens win 3 – 2.   (Season to date 5-2).

Season to Date (91 - 67)

ON THIS DAY - Former President George H.W. Bush is now the longest-living president in U.S. history at the age of 93 years and 166 days.

Bush on Saturday November 25 surpassed the previous record held by Gerald Ford, who lived to be 93 years and 165 days old before he died in December 2006.

Ronald Reagan, the third-oldest living president, lived to be 93 and 120 days, 46 days less than H.W. Bush.

Next Blog: Dear Rink Rats, Jack Ass of the Month and it is that time of year again, student recommendation letters.

Until next time, Adios

Claremont, California

December 8, 2017

#VIII-19-361

CARTOON OF THE WEEK – Peanuts, by Charles Shultz

Thankful

Thanksgiving week here in Southern California, temperature is forecasted to reach 91 degrees on Thanksgiving.

I excuse my theme of this blog to my Canadian readers who celebrated Thanksgiving in October.

What am I thankful for this Thanksgiving of 2017?

I am thankful for my family, friends and good health.

I am thankful for having the opportunity to play golf on November 22 in shorts and not snow mobile gear.

I am thankful for my students in ACCT 201, BUS 330, BUS 390, BUS 500D, and BUS 635 who provide me with challenges and rewards every day.

I am thankful for my colleagues associated with these classes, though sometimes seem very strange, who are totally committed to education and their students.

I am thankful for Big Red.

I am thankful for the California Legislature writing legislation to outlaw “reply all email” in the State of California….if this were only true.

I am thankful for my father and step mother whose spirit and love of life are a constant wonder to me day in and day out.

I am thankful for not working for Darth Vader.

I am thankful to Spectrum Cable for having NHL Centre Ice.

I am thankful for teaching assistants.

I am thankful for rhubarb pie.

I am thankful for still being a Detroit Lions fan, football fans know what I mean by this.

I am thankful for Mozart and Frank Sinatra.

I am thankful for not being a banker.

Finally, I am thankful for having limited writing ability, but still able to share Rink Rats with my small community of readers.

OUT AND ABOUT – Rink Rats reader Joe Zanetta, recently returned from a visit to Vietnam, where he reports a wonderful trip and he is sure to return in the near future.

OUT AND ABOUT PART DEUX – Nephew Patrick Pugliese recently had a sit down with former Secretary of State (1982-1989) George Schultz (96).

COLLEGE CHRONICLES – Top Five World’s Best Universities:

1). University of Oxford

2). University of Cambridge

3). (tie) California Institute of Technology, Stanford University

5). Massachusetts Institute of Technology

HARVARD YARD - The U.S. Department of Justice has opened an investigation into the use of race in Harvard University's admissions practices and has accused the university of failing to cooperate with the probe.

The Justice Department is investigating complaints that formed the basis of a federal civil lawsuit filed in 2014 in Boston, according to the documents. That suit alleges Harvard intentionally discriminates against Asian-Americans by limiting the number of Asian students who are admitted.

The lawsuit, brought by a nonprofit called Students for Fair Admissions, said the practices violate federal civil-rights law and asks a federal judge to prohibit Harvard from using race as a factor in future undergraduate admissions decisions. The suit is pending.

STUDENT LOANS SAGA - Fall behind on your student loan payments, lose your job.

Few people realize that the loans they take out to pay for their education could eventually derail their careers. But in 19 states, government agencies can seize state-issued professional licenses from residents who default on their educational debts. Another state, South Dakota, suspends driver’s licenses, making it nearly impossible for people to get to work.

As debt levels rise, creditors are taking increasingly tough actions to chase people who fall behind on student loans. Going after professional licenses stands out as especially punitive.

Firefighters, nurses, teachers, lawyers, massage therapists, barbers, psychologists and real estate brokers have all had their credentials suspended or revoked.

NO DEAL - Negotiations to form a government in Germany broke down, dealing a blow to Chancellor Angela Merkel and throwing the leadership and direction of Europe’s largest economy into doubt. Late Sunday, the small, pro-business Free Democratic Party broke off talks with Ms. Merkel’s conservative camp and the center-left Greens after four weeks, saying they had failed to produce the vision and trust needed to build a government among the three partners. The collapse leaves Germany with a caretaker government and Ms. Merkel without a majority in Parliament almost two months after her party’s worst general-election showing since 1949. The political gridlock—a novelty in a country long used to ruling coalitions, compromise and consensus—has thrown Ms. Merkel’s fourth term into question. The euro fell sharply in early trading Monday but later recovered.

BIRTHDAYS THIS WEEK – Birthday wishes and thoughts this week to Traci Attman ….famous San Francisco 49er fan; Joe Biden (75) Dover, Delaware; Tucker Lewis …..a wonderful heart and soul; Howie Meeker (94), Montreal, Quebec; Bill Walton (65) San Diego, CA.

MARKET WEEK - Don’t look now, but U.S. growth forecasts are moving higher. That’s helping to support U.S. stocks.

Projections for U.S. economic growth from two Federal Reserve banks have risen in recent weeks. The Federal Reserve Bank of New York on Friday forecast that gross domestic product will rise 3.8% in the fourth quarter, up from a forecast of 3.2% a week earlier.

A separate measure from the Federal Reserve Bank of Atlanta forecast 3.4% growth last week. Research firm DataTrek noted that the rival forecasts are outpacing projections from human economists, who on average expect 2.7% growth for the quarter.

Even if the less optimistic Atlanta Fed model is correct, it would be the best quarter for the U.S. economy in more than three years.

The central banks’ forecasts are derived from statistical models that track incoming economic data, and are used by traders to gauge the health of the economy.

This should be a positive for U.S. stocks. Behind the rising economic growth projections has been better-than-expected data on the U.S. housing market and industrial production. Stronger economic growth has helped fuel the record run for U.S. indexes as companies benefit from stronger demand.

DRIVING THE WEEK - Trump holds a cabinet meeting Monday, which is expected to include a tax cut update from Treasury Secretary Mnuchin. He pardons the Thanksgiving turkey on Tuesday and spends Thanksgiving at Mar-a-Lago ... Senate Finance has a NAFTA field hearing on Monday at 10:30 a.m. in San Antonio ... Index of leading indicators on Monday at 10:00 a.m. expected to show a gain of 0.6 percent.

NYC MARATHON - For the first time in 40 years (1977), an American woman won the New York City Marathon: 36-year-old Olympic medalist Shalane Flanagan broke the tape at 2 hours, 26 minutes and 53 seconds, beating three-time defending champion Mary Keitany of Kenya by a minute and one second.

Flanagan made her debut at the NYC Marathon in 2010, finishing second with a time of 2 hours, 28 minutes and 40 seconds — at the time, the best finish by an American woman in 20 years. Before this year, she hadn't competed in the race since 2010.

But, the big news coming out of this years’ NYC Marathon was the successful completion of the race by Claire Marshall, La Verne MBA ‘16. Congrats to Claire for finishing the marathon in under five hours! We are proud of you.

SWAMI’S WEEK TOP PICKS –

NFL Football Pick of the Week – Thursday 11/23, 9:30 AM PDT, Fox: Minnesota Vikings (8-2) vs. Detroit Lions (6-4), last chance for the Lions to stay in the playoff hunt, we think they will. Detroit wins 27 – 20.  (Season to date 6-5).

College Football Pick of the Week – Saturday 11/25, 9:00 AM PDT, Fox: #8 Ohio State University Buckeyes (9-2) at University of Michigan Wolverines (8-3), Harbaughs frustration continues, Ohio wins 32 – 24.   (Season to date 7-5)

D-III Football Pick of the Week – Saturday 11/25, 1:00 PM EDT: NCAA D-III Round Two Playoffs, #8 Linfield Wildcats (9-1) vs. #1 Mary Hardin-Baylor Crusaders (11-0), Linfield has a second chance against the Crusaders, no such luck, Hardin Baylor moves on 40 – 30.  (Season to date 7-4)

SCIAC Congratulations – To the Claremont-Mudd-Scripps Women Volleyball Athenas (31-5) for winning the D-III National Championship this past weekend against Wittenburg (27-3).

College Hockey Pick of the Week – Saturday 11/25, 7:00 PM CT (NBCSN): #6 Minnesota Golden Gophers (9-4-1) vs. #4 Notre Dame Fighting Irish (10-3-1), Irish win this one 4 – 3. Season to date (4-4)

NHL Pick of the Week – Saturday 11/25, 7:30 PM PDT (Prime): Anaheim Ducks (9-7-3) vs. Los Angeles Kings (12-7-2), another brawl in La La Land, Kings win this one 3 – 2. Season to date (4-2).

Season to Date (86 - 62)

Next Blog: The questions students ask, Dear Rink Rats and Jack Ass of the Month

Until next time, Adios

Claremont, California

November 21, 2017

#VIII-18-360

CARTOON OF THE WEEK – Spaulding, The New Yorker