Chatarra

 

Scrap metal (chatarra) in an Air Force installation in the South. These are the rests of an Iranian ballistic missile that fell in the Dead Sea. On my basis, we too had a collection of Iraqi missiles sent to us free of charge by Saddam Hussein.  They have grown impressively since then...

BTW, there were no such girls in our place. Everybody had to wear military hide boots. Some things have improved. 

Trauma Society

 

I read that 50 survivors of the Nova massacre - killed themselves. That others are in closed mental hospitals. This surprised me as I grew up among Auschwitz survivors, most of them having lost their families and husbands and children, and they had remade their lives quite normally. My uncle Joshka remarried, moved to Buenos Aires, and had no more children because of his luxury-loving wife Etha. Why does a simple massacre - a seven-hour event - cause them such mental harm? I am really astonished that the day after having been targeted by 300 missiles, everything here continues as always, and the children go to school and people continue working like nothing. Today, the war cabinet is deciding how and when to attack Iran. The streets are full and I am going to the Rami Levi supermarket because today is Tuesday - יום שוק

I may be depressed or what

 

In the last three days, I have been unable to do any work on my projects. Why? Possibly, the Iranian attack and today, the preparations for the counterattack. Wifey is also at home, and we talk a little. Nothing is happening in Kfar Saba, children are in school, and no queues at the supermarket. Yet it does affect me. 

Hope that tomorrow my working spirit will be back. I want to help my youngest daughter to buy an apartment. Could be in Harish. I shall need money. 

Israel is part of the West

 

Yesternight we were in danger and the West came to our assistance. It really is an ironclad alliance. We love the generous Anglo-Saxon people and their friends. 

Last Night's Victory

 

Pic of one of the ballistic missiles that fell near the Dead Sea. Of the 300-something missiles fired last night at Israel, all were neutralized and caused no damage. It is a fantastic achievement, a large victory. 

Mala tempora currunt, sed peiora parantur

Craig says we own nothing and that regulatory changes can erase even the illusion of owning financial goods.  True, there is no safety in financial property. In fact, there is no safety in any kind of property, not even your knowledge or prestige. 

Prestige used to be safe, but now the most famous scientists are being disinvited from meetings because they are Israelis or Jews or politically incorrect. The Haaretz supplement brings a psychologist who wrote a professional article on his treatment of Jewish refugees from the Gazan border and was refused because he had been treating people who were a potential danger to the Palestinians. 

I always knew that nothing is safe and money is nothing since Hungarian Jews - my grandparents - had to give up first their jewelry, then their businesses, and in the end their very lives. This is the unstable, unsafe environment we have to carry out our lives. 

More on Thames Water

Financial Times:  At the end of 2022, a group of large pension plans, including funds from Canada, Japan and the UK, discovered that they had lost a large part of the £5bn investment in Thames Water that they had recorded on their books. This Easter, they learnt that they had probably lost all of it. There is only one way for a water utility serving the capital of a G7 country to lose so much value so fast: it was never worth £5bn to begin with.  Yet its owners denied this reality for years. The signs that Thames Water and its parent Kemble Water Finance constituted a high-risk, low-profit business were there all along. The cost of capital in this investment should have been considered quite high (and increasing over the years) and its value much lower. 

For twenty years it was generally supposed that infrastructure investment was low-risk and producing steady, reliable cash flow. An ideal investment vehicle for a pension fund that has to pay out regular benefits. Thames Water is simply not that. Nothing that relies on regulation and political situation can be ever low risk. Nobody can know what the all-powerful regulators will dream up and impose on businesses. In the public mind and for left-wing regulators, business is intrinsically dirty and businessmen are all pigs. Profits are stealing from people, so there must be no pity for them.