Tag: Striking a Balance

ECONOGAL > Striking a Balance

Vail Valley Escape

Posted on by Econogal

Last week we escaped the triple digit heat with a retreat into Vail Valley of the Colorado Mountains. We did as much as we could to mitigate the chances of catching Covid-19. Only time will tell if we were successful. But it was a much needed break from the past few months.

Vail Valley House Rental

There were several pieces to our mitigation strategy. First, we rented a house from Gore Creek Properties. This actually turned out to be an economical decision as well. Because we had four generations, we would have needed three motel rooms. Our rental price was about half of the motel cost.

Perhaps the owners had the three story home backing onto Gore Creek priced at a discount since the Vail Valley area had just re-opened days before. Or, the cost was lower because the location was in East Vail. Whatever the reason, we benefited.

The house itself dated to about the 1980s. Since there were three levels, the generations each had their own floor. (The fourth generation having recently reached the ripe old age of one, had to share with her parents!) I believe this spacing along with the multiple outdoor spaces offered many beneficial health benefits: Both physical and mental.

Packing In and Out

A second piece of our strategy was packing in our food. Four coolers of food sustained us through the stay. It helped to have both a spacious kitchen and an outdoor grill. Of course cultural differences popped up. As “Westerners” our bar-b-que night consisted of burgers, grilled sliced herb potatoes, and hot dogs. The lone Southerner was surprised. In the southern part of the United States, bar-b-que means pulled pork and brisket along with slaw and potato salad. We muddled through.

We did have to pack out a few items as a result of one of two trips into the town of Vail. Our first outing was a Sunday morning Farmer’s Market. Even though we went early, we did encounter some crowded situations. However, in Vail Valley the majority of individuals wore masks.

Our best buy at the market in terms of taste was a delicious, if pricey, blueberry pie. One of the best I have ever tasted. Sometimes you do need to pay up for quality.

Most of the pictures in the slide show come from this foray into town. The second visit to the more populated part of Vail Valley was a trip to the Betty Ford Alpine Gardens. Again, a majority, but not all, had masks on. Even the kids.

Mountain Air

There is something to be said for the pureness of air at elevation. The altitude is in the 8000 foot range. Fortunately, everyone from the toddler to the octogenarian fared well. The adults enjoyed biking, hiking and running while the youngster ruled from her stroller. I have fond memories of the area from the Extreme Hike fundraiser for Cystic Fibrosis a few falls ago.

While I do not plan to participate this year, the fundraiser is ongoing. You may click here for more information. Hopefully, important organizations like the Cystic Fibrosis Foundation will be able to survive Covid-19.

Taking Risks in Everyday Life

Granted, taking this trip to Vail Valley was a risk. We did our best to limit the danger. As I discussed in May in the blog post ‘Striking A Balance’, individuals need to be responsible; Every day and especially during this pandemic.

We wear masks in public. As individuals, we practice social distancing. And we strive to keep healthy with an appropriate level of exercise.  Most importantly, we are striking a balance between total isolation and ignorance of how quickly this virus can spread. Family gatherings can be dangerous.

In our case, three of the attendees had recent negative tests for Covid-19. Two live in an area where testing is limited. But they actively practice social distancing and good hygiene.

I hope those who don’t believe in this virus change their minds. Currently, we just have one family member fighting the disease. She picked up the virus working as a camp counselor at a summer camp for kids. Others we have known with the virus have recovered. Unfortunately, one did not.

Apparently we are too early in this pandemic for everyone to know someone who has either survived or died from Covid-19. I still am questioned on whether I “actually” know someone who has caught the virus. I tell them I not only know individuals who have it, I know someone who died from it.

Rest in peace April.

 

 

 

 

 

 

Striking A Balance

Posted on by Econogal

Striking a balance is a key to life. One that seems to be sorely missing at this moment in time. In economics we call this balance an equilibrium. If you believe in the philosophy of Adam Smith you think a system which is out of whack will correct itself. Eventually. If you are a fan of John Maynard Keynes, your belief runs toward giving nature a helping hand through intervention. Usually government intervention.

To be honest, I tend to favor Smith over Keynes. (Although neither is my favorite.) The biggest problem with Smith is that nature can take a long while to correct itself. The biggest problem with Keynes is thinking man has the discipline, and the knowledge to strike and maintain a balance. Striking a balance is quite difficult. Maintaining one, perhaps impossible.

Debt

From time to time I link to the Debt Clock. I have already asked you to click here once this year but please do it again. The overall number is eye-popping. Over 25 trillion as I type this. But dig down deeper. Look at family savings, student and credit debt. Take a further look at household and national debt. Finally take a look at the M2 money creation.

The Federal Reserve is following a Keynesian path and pumping money into the monetary system. This chart from the St. Louis Federal Reserve office shows the steep increase in M2 since the start of the year. The Federal Reserve has deeply cut the interest rate on the funds loaned out. The rate currently stands at .25 down from 1.75 earlier this year.

From both the Debt Clock and the M2 chart one can discern the attempt at striking a balance the Federal Reserve is trying to make. It is not this action I disagree with. Instead I worry about the unwillingness for re-balance in good times. Why, were interest rates low to begin with when we were at all time market highs the first months of the year? Shouldn’t the rates have been at 3, 4, or even 5 %?

My fear is the inability of governmental entities in striking a balance. Keynes’ basic philosophy will work but only if humans can put aside for a rainy day. I have seen little of this in my lifetime.

Managing a Pandemic

Public service is difficult. I have had some personal experience on a local level and the job is tough. Making decisions for the public is not easy. A crisis makes it even harder. Dealing with Covid-19, while not unprecedented, is proving to be the greatest challenge many will ever face. This holds true on a personal as well as public level.

I think the problem will be most apparent in countries that have enjoyed more freedom for citizens. But I think people everywhere will struggle with striking a balance in fighting this pandemic. Individuals in countries that practice preparedness will do better than those who live in places where a just-in-time philosophy extends to households as well as production facilities.

There have been a multitude of agencies as well as people that have not responded as effectively as one would hope. Additionally, political leadership has not been on an even keel. But perhaps what disappoints me the most is the divisiveness of the human population. Although, I feel a little better about the split since reading Gina Kolata’s Flu. Apparently a similar split has happened in the past on the best way to deal with an epidemic.

Personal Responsibility in Striking a Balance

Nonetheless, I urge everyone out there to consider the needs of others. A person can look healthy and young on the outside, but suffer from lung conditions such as asthma or cystic fibrosis. Pacemakers are not just operating in the elderly. So for once I am asking you to “assume” something. Please assume anyone you meet, young or old, may have an underlying condition. Give people some space. Further, assume you could be asymptomatic, spreading disease unknowingly. And by all means, if you do have symptoms of Covid-19 take responsible actions.

Striking a balance between public health and public wealth is difficult. We all have a responsibility. As humans, we need to show respect for each other. At some point in the future we will reach an equilibrium. Let’s just hope we remember to repay the funding mechanisms. Otherwise, the difficulties of living through this pandemic will pale in comparison to a future of financial instability.