Self-delusion

The Stanford Daily


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Wednesday October 3, 2007






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Endowment grows again





Despite volatile economy, endowment continues decade of steady increase

October 3, 2007
By James Hohmann
"It was another red letter year for Stanford’s endowment fund, which grew about 23 percent to $17.2 billion, as of Aug. 31.
The net gain alone amounted to $3.1 billion, a figure larger than the gross domestic product of Barbados. And over the last decade, Stanford’s pool of money has grown an average of 15.1 percent every year.--The potential for further market declines and volatility concerns Powers and his team of investment gurus, so they are being cautious and have taken a dim view on the credit markets.“We don’t believe the shocks of July and August have worked their way completely though the system,” he said. “We still think risks in the domestic and global economies aren’t fully represented in the credit markets.”-----
Ted Rudow III,MA
The world is headed back toward the days of the Great Depression in more ways than one. In the U.S., the difference between the immense wealth of the rich and the poverty of the poor led to the election of FDR, who said he'd see that the poor were treated more fairly.
More self-delusion. More danger of a sudden bust. The more money it has made, the more it has borrowed, and the harder and more devastating the fall will be in the end. There is a crash coming, no matter how often the feel-good economists predict that all things will continue as they are, just because they have been for the last several decades. The world's economy is a house built on the sand of debt, and a storm is coming, and great will be the fall of that house (Matthew 7:24-27).