A.M. Both Jeff and I slept in. So I ran alone. 10.18 in 1:12:39 with 1.5 in the middle in 8:42. It felt harder than it should have.
P.M. 3.2 with Benjamin, Jenny, and Julia in 27:06 to Walgreens to get them new clogs and back. 0.5 with Joseph in 4:38. 0.25 with Jacob in 2:35.
Sarah had the ultrasound today. This is going to be a boy. We decided to name him Stephen. There were two Stephens in my family who died at the age of 3 back in the 1920s in the Soviet Union. A disciple of Christ by the same name was one of the few people in the recorded history of mankind to have seen God the Father and the Son (the story is Acts 7 in the New Testament). We also hope that our Steve will have the talent and the work ethic of three great British Steves: Steve Cram, Steve Ovett, and Steve Jones. If you run and do not know how they are, I would encourage some search-engine aided enlightenment. And of course, we are not forgetting our long time family friend Steve Ashbaker.
Sarah went to the Pennies by the Inch dinner yesterday and heard a story about a blind man who worked menial jobs all his life, saved $1 million and donated all of it to Pennies by the Inch in his will. I found that story fascinating and did a bit of math. Suppose somebody with low income wants to do a similar feat. Let's say he is able to save $200 a month over 40 years. Let's say he does not want to play any games with the stock market and risky investments and just uses CDs and money market. With the current economy he will be lucky to get 3% interest this way. At 3% interest he will have about $185,000 when he retires. He will not be donating $1 million to any causes when he dies. At 10% interest he will have about $1.2 million.
The question I have is why we clamor for lower interest rates. What do we accomplish with that? We in essence rob the folks that have been working hard and saving their entire life to enable those who currently have a source of income to buy a house that is two times the size they need for four times its worth. Do we really understand that?