Headline News: Recession fear batters Wall Street

So, the market closed down today because people are afraid we might be heading for a recession?... I don't get it... Seriously... We ARE in a recession - HELLO!!! Am I the only person on the planet that believes we are already in a recession? I think the markets are just whacked out and nobody is able to think rationally. How many times do we have to take a hit to our portfolios for the same bad news?

Let's review some of the facts:

1. We've had several bank failures over the last 2 months including Bear Stearns and Lehman Brothers....
2. The home mortgage institutions have undergone a $200 billion infusion of capital to keep them operational.
3. The mortgage insurance firm, AIG, is now 80% owned by the government due to the fact that it no longer had the funds to operate and it was moving towards insolvency. AIG has since been thrown out of the Dow Jones Industrials and replaced with Kraft Foods.
4. Home foreclosures are at the highest rate in the last 70 years.
5. The federal government has passed a $700 billion dollar stimulus package to help out the financial institutions and get the credit markets healthy again. Depending on who you listen to, this is just the tip of the ice berg - the total bill could reach over $3 trillion.
6. The US automakers are in a total state of collape and are looking to the federal government for a $50 billion relief package to get them through this period. Production of many car models has been stopped until the buying continues.
7. US retailers are reporting the worst start to the Christmas season that they have seen in a long time.
   
8. Unemployment is at the highest rate in the last 15 years.
9. The markets are down by 40% from the beginning of the year with huge swings in investor confidence.
10. Oil has just come off a record high of over $140 / barrel. The ripple effect that this has had throughout our economy has been tremendous. Although oil prices are down below $70 / barrel at the present, the effects of the price hikes due to the higher oil prices have not subsided.

I could go on and on about how screwed up everything is right now but I think that you all get the picture. With this all said, am I still the only one that thinks we are already in a recession?

Hello, wake up and smell the toast burning folks!

Back in the Peloton... for a little bit :-)

Well, folks, I'm back on my bike and back in the peloton, again. Or maybe it would be more correct to say "I'm back on my bike and in the back of the Peloton, again" :-) At any rate, both are true because I did joined the noon ride yesterday, Thursday, Nov 6th for the first time ever. HammerSchlagen actually talked me into it against my better judgment but in the end it came down to my old philosophy of "you have to do the rides to do the rides".

Before the ride I pounded down a chicken pot pie for lunch, dawned all of my cycling gear and headed out into the garage to get my trusty steed ready to ride. I pulled out of the garage around 11:40pm which gives me 20 minutes to get to Old Page Mill Rd. I figured I'd have 5 minutes or so to rest before the fun begins. The day was sunny and crisp with a temperature of around 65F and there was very little wind. I picked up HammerSchlagen at the corner of Page Mill and Foothill and we rode up to the start of the ride and chatted a bit. I was warmed up and ready to go and my goal for the day was to stick with the group as long as I could and then let go - I don't get paid enough to knock myself out on my bicycle anymore.

I was looking for Janet at the start. I know she usually does these rides but I didn't see her here today. Too bad. I wanted to congratulate her on joining the Kalyra Cycling Team in Santa Barbara - she is a super strong cyclist and she will do well. I talked to HammerSchlagen as we snaked our way up Old Page Mill, crossed over into the center divide on Page Mill and made the right hand turn onto Arastradero. Where are going today anyway? HS didn't know... I guess "who cares".... just follow the wheel in front of you.... if you can :-) As we pedaled along Arastradero I was mid pack feeling pretty good. Then we hit the three step ups to the top of the hill and that is where I lost HammerSchlagen. I moved to the back of the pack but hung on to the top and was able to rest on the downhill section. I moved back up in the pack as we headed for Alpine but never caught back up to HS.

Going up Alpine I knew I was going to get taxed and I figured this would be where I say good bye. The pace was quick but not too bad. I could feel my heart rate climbing on the long steady hill. As we headed up the last stretch before the Portola Valley intersection, I could feel myself moving into the red zone. I started to slow, riders were passing me on the left and the rubber band was stretched pretty thin. Then I sat up - I'm done! With 100 yards to go to the top, I watched the last of the peloton pedal away... OK, I feel better now... and they aren't that far up in front... I can bridge this... time to sprint! And away I went. I caught back on just as we made the right turn onto Portola and I got to rest as we headed down the hill.

Lesson 1: Never give up in cycling. Hang on until you face is blue and you are seeing double. Things always change and that could mean new life for you. The minute you give up, the ride gets twice as hard because you are by yourself.

As I head down Portola, I am noticeably winded, my kit is pretty wet from the effort I put in to hang onto the back (I am also just a tad overdressed for the occaision) but I'm definitely starting to recover. Not sure if I can do one of those again very soon! I look down the row of bikes and see another MVV jersey - hey! It's Janet! She must have joined the pack at the last corner. I move up but so does she. I sit there looking for an opportunity to ride up next to her. We continue our descent of Portola... still no openings for me to squeeze thourgh... as we near Old La Honda, I figured I'd better make my opportunity so I'd get a chance to say hello before I got dropped. I looked to my left, moved to the outside and started pedaling hard. I bridged up to Janet and pulled up next to her - "Well how the hell are you doing?" She was surprised and before you know it we are caught up in a conversation - it's been a while since we've been on a club ride together. My bad!

As we neared the junction of Portola and 84 (heading towards Tripp), I realized that I was under stress again and the heart rate was climbing... damn this hurts!... say good-bye to Janet... people are passing me again... SNAP! I'm off the back. This time I had company because another guy broke 10 yards up the road. That is always a dangerous situation since now you have company and there is no way you can climb back into it. I rode up to the guy. "From here on out it is just a sight seeing tour" I said. He agreed and wondered what had gotten into the group that they were riding so hard this late in the season... we rode together for a bit but split up when I went down trip and he continued on 84.

I did Tripp road and the Olive Hill maze. What a beautiful day it was. The middle of November, sunny and warm for this time of year and everything green from the recent rain. I love cycling in the bay area! There can be no place better anywhere as far as I'm concerned. Onward, down Canada, across 84, onto Mountain Home and a left onto Manzanita. Manzanita is one of my favorite backroads to ride. Too bad it is only a few miles long. Tree-lined, narrow European style road and when you are in shape, you can generate some significant speed around a couple of the sweeping turns... Today I just take it easy and enjoy the moment. Soon enough I make the left turn onto Sand Hill and the long out-of-the-saddle grind up the hill before the freeway. I always do this section standing on the pedals just to get my endurance up for out-of-the-saddle climbing. You get more power but it takes more endurance and you have a limited amount of time you can ride that way. I've burried many an opponent on this grind. When you get to the "BIKE LANE" paint on the long straight, you know you have about 200 yards of uphill to go and this is where the gloves come off for an uphill finish. The top crests slowly and can be very deceiving so you have to have some juice left to get over it once you think you have arrived. Then a long, fast downhill to the freeway. I love the wind in my face :-)

I pedaled my way down Foothill Expressway and stopped at Peet's for an ice tea. I felt good that I'd done the ride, not entirely disappointed with the outcome but glad that I was on my bike. I guess winter training has started... Ready or not, here I come boys!

Race of Champions

Well, Dalezilla can add another accomplishment to his growing list for 2008. The accompanying picture is his invatation to the 2008 Race of Champions that will be held as a pre-race to the Grand Nationals. While the nationals are through general registration, the Race of Champions is by invitation only and the top riders in their catagory from each state in the USA are invited to compete against each other. This is the good news....

Unfortunately, at this time, Dalezilla does not want to compete in the ROC! I think that it is just a little overwhelming for a 7 year old to grock the importance of this. He is more afraid that it is going to be too hard and that he won't do well. While I've tried to explain to him that, in my book, he is already a winner, he's not buying it and is pretty committed to skipping the race. Too bad, he may never get another chance like this in his life. Then again, this is really his first year of racing - maybe this will be something that happens again and again.

I haven't finished working on him yet. There is still time to get him to change his mind. However, I do respect his judgement and opinion on these matters and we will not go if he is not excited about racing in the ROC. Wish me luck and I'll keep everyone posted on what we finally decide to do.

The 2008 BMX Season... So Far....

With still 6 weeks left in the 2008 BMX season, I thought it would be a great opportunity to just let everyone know that Dalezilla is doing great and winning lots of races. The trophy wall in his room is filled with bling from this years spoils - check it out in the picture. Besides becoming one of the kids to beat at the Santa Clara BMX track around the June timeframe and extending to now, Dalezilla has had several other noteworthy accomplishments:

1. 2nd place at the Silver Dollar Nationals in January.
2. Dalezilla turns Intermediate in February
3. A bunch of trophies at the Black Jack Nationals in Aug.
   
4. 3rd Place in the California State Championships in Sept.
5. 2nd place at the Golden State Nationals in Oct.

I'll cover more of the highlights of the year once the season has closed down. For the time being, enjoy this shot of his trophies and wish him the best of luck in the remaining 6 weeks of the season.