Daily Update: Tuesday, October 20th, 2015

Paul of the Cross

Today is the Memorial of Saint Paul of the Cross (died 1775). And today is the birthday of Rob, the eldest son of Richard’s sister Bonnie in Texas (1965), and of Ted, the second son of Richard’s sister Susan in Iowa (1970).

Born in 1694 at Ovada, Piedmont (northern Italy) as Paolo Francesco Danei, today’s Saint was the son of a merchant. After receiving a vision, and while still a layman, he founded the Congregation of Discalced Clerks of the Most Holy Cross and Passion (Passionists) in 1721 to preach about Jesus Crucified. Ordained in 1727 by Pope Benedict XIII, he became a missionary, and was a preacher of such power that hardened soldiers and bandits were seen to weep. At one point all the brothers in the Order deserted him, but in 1741 his rule was approved by Pope Benedict XIV, and the community began to grow again. During his lifetime he was best known as a popular preacher and a spiritual director. More than two thousand of his letters, most of them letters of spiritual direction, have been preserved. He is considered to be among the greatest Catholic mystics of the eighteenth century. In the Universal Church his feast is on October 19, but in the United States his feast is held on October 20 so as not to conflict with that of the North American Martyrs. He is the Patron Saint of the Passionists order. (For the Universal Church, his Memorial is on October 19th; but as that date is the feast of the North American Martyrs, Saint John of the Cross’s Memorial in the United States is celebrated on October 20th, or the day after.) And today is  the birthday of Rob, the eldest son of Richard’s sister Bonnie in Texas (1965), and of Ted, the second son of Richard’s sister Susan in Iowa (1970).

I did my Bathroom Devotional Reading, and once we got to work we ate breakfast in ADR using my $10.00 Meal Comp I had won a few Saturdays ago at the Pre-Shift Meeting. When we clocked in Richard was first on the second Three Card Poker Table, then on the regular Three Card Poker table for the rest of the day. I was the Relief Dealer for Pai Gow and Mini Baccarat, and for my first two rotations I broke a Blackjack table (on my second rotation we closed it.) On my breaks I did my Internet Devotional Reading, did my Book Review for this weblog via WordPress for Android and for my Goodreads and Facebook accounts for All The Light We Cannot See by Anthony Doerr, and on our way home from work I finished doing my Daily Update for yesterday, Monday, October 19th, 2015 via WordPress for Android.

When we got home from work I read the morning paper while Richard cut down chicken trees (also known as Chinese Tallow trees; they grow like weeds, literally) out back. I left the house at 12:30 pm for Lafayette, with my shopping goals for the afternoon being buying a new hat and buying a new LSU hoodie. At 3:32 pm the First Quarter Moon arrived. By 4:00 pm, when I arrived at Piccadilly Cafeteria to eat a late lunch / early dinner, I was very tired and very disgusted; I had gone to four separate stores in Lafayette in search of Tilley hats (using the Find a Store feature on the Tilley website), and three of the four stores had either one hat or only two hats. The fourth store actually had a Tilley Hat display, but they only had the Air-Weave hats, which I did not want. (I want the T3, size 7, white with white underneath.) Meanwhile I had stopped at Academy Sports and the Wal-Mart on Ambassador Caffrey in search of a 2x purple classy LSU hoodie, again without success. So I ate my meal at Piccadilly while continuing to read The Fortune of War by Patrick O’Brian. I then went to Barnes and Noble; I was able to find only one of the Clovis Crawfish books on Richard’s list for our granddaughter (Clovis Crawfish and Petit Papillon, by Mary Alice Fontenot), but I also got Goodnight Tiger Stadium by Neal Ashby, Paige Ashby, and Kathy Bradford, Illustrated by Tim Williams. I then attended the Third Tuesday Book Club meeting to discuss All The Light We Cannot See by Anthony Doerr. I got home at 9:30 pm and went straight to bed, not doing my Daily Update.

We have no Saints to honor tomorrow, so we will instead note that tomorrow is Back to the Future Day, or the day to which, in Back to the Future Part II (1989), Dr. Emmett “Doc” Brown and Marty McFly travel into the future. (So tomorrow, the future will be today). Also, the Orionid Meteor Shower is tomorrow morning. Richard will get up early and go to Baton Rouge to see Butch at his new place; he will also look for a Tilley hat for me and an LSU Hoodie. Meanwhile, I will do my Weekly Computer Maintenance, do my laundry, do my Daily Update for yesterday, Tuesday, October 20th, 2015, go get my hair cut, and get busy with my packing for vacation. And our New Orleans Pelicans will play an away Preseason Professional Basketball Game with the Orlando Magic.

Our Parting Quote this Tuesday evening comes to us from Lawrence Klein, American economist. Born in 1920 in Omaha, Nebraska, after high school he went on to graduate from Los Angeles City College, where he learned calculus, and the University of California, Berkeley, where he began his computer modeling and earned a B.A. in Economics in 1942. He earned his Ph.D. in Economics at the Massachusetts Institute of Technology (MIT) in 1944. Klein then moved to the Cowles Commission for Research in Economics, which was then at the University of Chicago, now the Cowles Foundation. There he built a model of the United States economy to forecast the development of business fluctuations and to study the effects of government economic-political policy. After World War II Klein used his model to correctly predict, against the prevailing expectation, that there would be an economic upturn rather than a depression due to increasing consumer demand from returning servicemen. Similarly, he correctly predicted a mild recession at the end of the Korean War. Klein briefly joined the Communist Party during the 1940s, which led to trouble years later. At the University of Michigan Klein developed enhanced macroeconomic models, in particular the famous Klein–Goldberger model with Arthur Goldberger, which was based on foundations laid by Jan Tinbergen of the Netherlands, later winner of the first economics prize in 1969. Klein differed from Tinbergen in using an alternative economic theory and a different statistical technique. In 1954 Klein’s brief membership in the Communist Party was made public and he was denied tenure at the University of Michigan, in the wake of the McCarthy era. Klein moved to the University of Oxford and developed an economic model of the United Kingdom known as the Oxford model with Sir James Ball. Additionally, at the Institute of Statistics Klein assisted with the creation of the British Savings Surveys, based upon the Michigan Surveys. In 1958 Klein returned to the United States to join the Department of Economics at the University of Pennsylvania. In 1959 he was awarded the John Bates Clark Medal, one of the two most prestigious awards in the field of economics. In the early 1960s Klein became the leader of the major “Brookings-SSRC Project” to construct a detailed econometric model to forecast the short-term development of the U.S. economy. Later in the ’60s Klein constructed the Wharton Econometric Forecasting Model. This model, considerably smaller than the Brookings model, achieved a very good reputation for its analysis of business conditions, used to forecast fluctuations including national product, exports, investments, and consumption, and to study the effect on them of changes in taxation, public expenditure, oil price, etc. Klein served as a thesis advisor for numerous well-known economists including E. Roy Weintraub in the late 1960s. In 1968 he became the Benjamin Franklin Professor of Economics and Finance at Penn. In 1969 Klein founded Wharton Econometric Forecasting Associates or WEFA (now IHS Global Insight), launching the econometric forecasting industry in the United States. Among his clients were General Electric Company, IBM, and Bethlehem Steel Corporation. He was the initiator of, and an active research leader in their LINK project, a consortium of model builders from many countries, which was also mentioned in his Nobel citation. The aim was to produce the world’s first global economic model, linking models of many of the world’s countries so that the effect of changes in the economy of one country are reflected in the other. LINK, which is now operated by the United Nations, is still meeting regularly, most recently in October 2009 in Bangkok. During the United States presidential election in 1976, Klein coordinated Jimmy Carter’s economic task force. He declined an invitation to join Carter’s administration. Klein was president of the Econometric Society and the American Economic Association in 1977. For his work in creating computer models to forecast economic trends in the field of econometrics in the Department of Economics at the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980 specifically “for the creation of econometric models and their application to the analysis of economic fluctuations and economic policies.” His Nobel citation concludes that “few, if any, research workers in the empirical field of economic science, have had so many successors and such a large impact as Lawrence Klein”. In his final years he was engaged in macro econometric model building high-frequency models that projected the economy in a monthly, quarterly frame, as opposed to a long-term projection (died 2013): “At the beginning of a decade it is tempting to look ahead for the next ten years.”

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