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Friday, December 26, 2008
This morning I happened to catch a little of Morning Joe
the MSNBC morning, early morning show with conservative Joe Scarborough
and semi liberal Mika Brzezinsk. They and liberal Mike Barnicle and
conservative Pat Buchanan were talking about how younger people are not
equipped to deal with the current economic situation. In fact, many of
the younger people don't even know what it's like not to get everything
they need and more ludicrous, want instantaneously. People who lived
through the Great Depression know exactly what it's all about. There are
some younger people who know what it's like not to be able to go to the
store or online and purchase anything and everything that they want now.
These young people were taught that money didn't come easy. And more
importantly they were taught the value of money, saving for the future
and financial responsibility. These young people will be just fine.
However, I feel bad and sympathize for those people, of any age, who
have not learned the value of money. I don't know how the people who
must fulfill their every financial desire now, immediately and feel it's
their right, will cope. How will they deal? I give Kudos to those wise
parents who instilled in their children the importance of hard work,
saving for wants and financial responsibility. By the way, parents of
all levels of income can produced children who are financially
irresponsible as well as those who are financially prudent. It is in the
upbringing and the parents attitude towards money and immediate
satisfaction. Happy the person who knows the value of money, hard work
and financial prudence. Happy the person who is financially responsible
and practices restraint.
One
of my favorite entertainers, Eartha Kitt died on Christmas Day. She was
81 with a history of colon cancer. She was simply fabulous. She had an
interesting story to tell and a life filled with hardship, contentment,
success and satisfaction. Years ago she recorded the popular, Santa
Baby and it is still played during the Christmas season. Her stage
persona was one of style, elegance and sexuality. Her famous
"R"-rolling cat growl: "Wrrrrrrrrow will remain
her trademark. She was a star, especially in the gay clubs and loved and
respected for being herself and living her life. We will miss you Ms.
Kitt. Tuesday, December 23, 2008
Should Caroline Kennedy Schlossberg be selected by the governor of New
York to fill Hillary Clinton's senate seat? I don't think so. I love the
Kennedy's, but Caroline as Senator Kennedy? She is not the best choice
for the job. I don't know why she would want the aggravation. She has
been apolitical for such a long time. She has shunned the media. She has
lived her life shielded from media scrutiny. Why give that up?
President-elect Obama, that's why. Obama has excited many Americans
about public service. Caroline Kennedy is no exception. However, in
these turbulent and crucial times we must have the best qualified people
in Congress. She is qualified for the job, but she is not the most
qualified. I think the Attorney General from New York, Andrew M. Cuomo
is the best person for the job. He has the governmental and political
experience to get the job done. In my opinion, he should be selected to
fill the senate seat in 2009. In 2010, whoever is selected will have to
go before the voters and formally be elected to the senate. At that
time, any New Yorker who wants to run for the senate seat will have the
opportunity. But for now, Andrew Cuomo is my choice. A
little more holiday talk. I believe the sales for this holiday season
will be dismal. I don't see many people buying extensively for the
season. There are shoppers, some are buying, but they are buying necessities,
spending less money on gifts and are being more prudent. They must be.
They have no other choice. The economy is in a downward tailspin with no
signs of stopping. Members of the American labor force can not be sure
about their job standings. Jobs are being eliminated, salary and
benefits are being cut and the worse is yet to come. During this holiday
shopping season I have witness countless numbers of shoppers browsing in
stores with little or no purchases in their hands. I have seen many
people leaving stores empty handed. Some may be waiting for even more
drastic price reductions, but I think the majority will not be
purchasing much this holiday season. As I've stated, what else are they
to do? We all must be concerned, prepared and optimistic about the
future. We must face the facts, whether the storm and hope for the best.
This too will pass. I think this is the calm before the storm. Right now
it's Christmas, but wait till January and the months beyond. Economists
are predicting more financial bad news ahead in 2009. Personally, I feel
that things will get worse, but will improve significantly by the end of
2009. We must be optimistic, but even more important, we must be
realistic and deal proactively with our situations. We have no other
choice. This is a bad time for many, but a great time those who have
money to spend. Many, many fantastic bargains are to be had. Prices are
falling for everything. Entertainment, travel, household products, cars,
homes, literally everything is on sale right now. I've taken advantage
of many of these deals.
If you need the product or service anyway, why not purchase it now when
the price is right? I would caution people to stop waiting and start
buying, if this is in your economic plan. If it's right for you, if you
have the CASH, then spend, buy and help the economy. It's a mixed bag
right now. Remember, only you and you only in coordination with family
and loved ones can make the decision that is the right and appropriate
one for you.
Monday, December 22, 2008
Some more Christmas talk. After all, it is the season. Bill O'Reilly
of Fox News, The O'Reilly Report and conservative talk radio, has
this campaign going on to save Christmas. I mean really. The campaign is
called, "I say Merry Christmas." It is a movement to keep the
celebration of Christmas as the birth of Jesus. Followers want seasonal
well wishers to say "Merry Christmas" to one another instead
of the popular expression, "Happy Holidays" or the like. Yes,
I agree that Christmas is the birth of Christ, but many people do not
believe that Jesus is the Son of God. Christmas was declared a national
holiday in the 1860's by the then President Grant. I don't think a
national holiday should have a religious significance. Hence, Happy
Holidays. Also, there are many, many people of different religious
beliefs who celebrate their religious holidays in December and various
times of the year. Some even celebrate Christmas as a public,
nonreligious holiday. Once again, Happy Holidays. Simple charitable
goodwill would seem to suggest a generic holiday greeting so everyone,
all people regardless of religious beliefs, could offer the holiday
sentiment. W.A.S.P. (White Anglo-Saxon Protestants) must realize
that there are people of all religions, races, sex, sexual orientation,
etc. living in the United States. There should be no national religion
in America. Religious holidays should be celebrated on an individual
basis by people who subscribe to the religious significance of the
holiday. Anything less or more would be un-American. Agree with me or
disagree with me, it doesn't matter. In America the civil rights of all
people are guaranteed and protected under penalty of law. All people
should and do have the right of freedom of religion, etc. All people
should be protected from the imposition of the beliefs of the majority
on any minority. I think that it is more important to act in a nonjudgmental,
united way in order to achieve unity and mutual respect. This is the
Obama way, it is the American way and it should be each persons way.
Merry Christmas to the Christians. Happy Hanukkah
to the Jewish people. Etc., etc. Or simply, Happy Holidays.
Saturday, December 20, 2008
President Bush finally gave GM
and Chrysler their bailout, although not as much as they requested and
with strings attached. They have three months to prove that the
companies are viable and able to sustain in this economy. The money came
from the Troubled Asset Relief
Program, the original $700 billion bailout. The president wasn't going
to leave office in the midst of the demise of GM and the other auto
companies. This action is viewed as a stopgap measure until the Obama
administration and the new Democratic congress takes over. I hope
President-elect Obama is just as diligent about any further bailouts as
President Bush has been. I still think controlled, measured bankruptcy
is a better option. Personally, I don't want to be an auto company
owner. In other words, I don't think that the American taxpayer should
be involved in the bailout of any companies - private or public. America
is a capitalism state. We believe in free enterprise. Just as it comes a
time when parents must stand aside and let their children make their own
decisions, government must stand aside and let free enterprise exist and
function. I will say that I am empathetic to the conditions of the
millions of people who are being affected by the troubles of the auto
industry. However, I am just as empathetic with the plight of countless
other Americans who have experience the economic roller coaster of many
other businesses who did not get a bailout. I do not believe in reward
for failure. I believe in the original American system of capitalism. Hanukkah
and Christmas are
upon us. It is a difficult time for many people. However, we must
remember the true meaning of each holiday. We must remember the
significance of this holiday season. Regardless of ones religious
beliefs, this is the time for love, peace and goodwill towards all
people. We must be aware of this and practice it in our daily lives. The
materialistic celebration of the holidays is overrated. We must take the
commercialism of the season and replace it with the true sentiments of
the season. Prudent, responsible and measured materialistic celebration
is fine, but it must not be the priority or the objective of the season.
I am sure that the season can be fully celebrated with less of the
commercialism and more of the real meaning of the season. Families,
parents as well as children, must recognize and share the conditions of
the time. Families must be honest, truthful and realistic in discussing
the family situation when celebrating the holidays. Children are very
resilient. They really don't care about the toys, the money, the things.
Rather they care about being loved and sharing love. I think it would be
a great idea for all of us to keep the materialistic aspects of the
season at bay. Perhaps we all should tone down the commercialism of the
season and share the family, human love and concern that comprise the authentic
celebration of the season. In the end, money has very little to do with
celebrating this wondrous season. As
for the economic recession, ask your grandparents about getting through
economic bad times. They have been there. They have lived through many
recessions and maybe many private, personal financial downturns. They
know what it's all about. I am confident that they will tell you,
"We will survive." and, "This too will pass." The
secret to getting through life's difficult times is finding the hope and
joy of life in oneself and those people who love and surround us.
Saturday, December 13, 2008
There are only a few days left in December. The new year is approaching
fast. I would be remiss if I didn't mention a few last minute tax
preparations for 2008. This is the time to look over your deductions for
2008. Are there any potential deductions that you are overlooking. Also,
it's time to begin to finalize your 2008 tax year information. An
individual, family or household budget accounting mechanism is very
important. It is just as important as a business accounting record. You
work hard for your money. You are entitled to keep as much of it as
possible. Why give Uncle Sam any more tax revenue than necessary? Unless
you do have a real Uncle Sam and he does indeed need the financial
support, then you should account for the money and support you have been
charitably giving him and appropriately deduct it from your 2008 tax
record. Of course I jest about that Uncle Sam. The Uncle Sam that I am
referring to is the United States Internal Revenue Service, a.k.a. the
IRS. Getting ready for the IRS should be an ongoing task. It should
start on January 1 of the new year and continue all year and end with
the filing of your income tax for that year. In other words, you should
be preparing, reviewing and fine tuning your financial records
concurrently with your daily living. Personally, I use Quicken for my
financial records. At anytime during the year I can log on to Quicken,
click on Tax and then Tax Planner and
project my entire income tax account record for the current tax year.
Yes, it takes some work and preparation, but isn't my financial health important
to me? Hell, yes. And your financial health should be just as important
to you and yours. You really can't expect to start an initial formal
financial record on December 13 for the current tax year, but you can
think about it for 2009. It not only helps in your income tax
preparation, but it is extremely practical in maintaining your daily
financial information. Financial health doesn't just happen. One must
work on it. Let's talk about some of the steps your can take right now
to help ease your tax responsibility for 2008. In a word - deductions.
Look for any missed deductions. I'm not going to review the United
States tax forms with you, that's your job. I will recommend that you
review your projected tax responsibility and determine if it can be
lowered by taking advantage of any missed legal deductions. If your tax
burden is covered for 2008, maybe you should hold off on any more
deductions until January 2009. If you are looking for more deductions
for 2008, then look towards your tax-exempt savings plans, IRA,
retirement, 401 etc. If you haven't made the maximum contribution, do
so. How about charitable contributions. Maybe you could contribute a
lump sum to you church, temple or mosque. Are there any purchases that
you need to make anyway that are tax deductible? This is a good time to
gather all related income tax documentation. A family, individual or
household budget, financial record and the like are important parts of
one's financial health. Make it a priority and do better next year. No,
not just for income tax purposes. Do it for your own financial
well-being. Especially in light of our current national economic
recession, all financially responsible people should and must become
more diligent concerning finances and economic matters.
Friday, December 12, 2008
The US automakers bailout was put to rest last night by the senate
Republicans. That's fine with me. I think regular free marketing
practices should be followed, even bankruptcy if necessary, for all
companies. It sounds like the $14 billion will come from the October
$700 billion bailout. To my way of thinking this is no more than a band-aid
approach until the Obama administration takes office. I still think a
bailout is not the way to go. The financial institutions needed to be
secured, money and credit needed to be opened and made available so
businesses could once again secure credit and continue operations. The
economy needed an infusion of usable money. Over half of the $700
billion has not been allocated. The money that has been allocated is not
being utilized per the agreement. I don't think it's working. Now the
automakers are getting a shot in the arm via the unused funds of the
original bailout. What is happening? Greed, selfishness and incompetence
are still the rule of thumb in the operation of the American economy.
This is not 1932, it is not the Great Depression, we must find a 21st
century solution to our pending disastrous economic situation in
America. There is another point I feel compelled to make concerning the
automakers mess. The point is this, why are the union workers getting
such a slam. The failure of GM, Ford and Chrysler is not the fault of
the American worker. It is the fault of management. Why do the
Republican senators as well as the conservative right in general blame
the workers? Why are these parties demanding that the auto workers take
a drop in salary and benefits? This seems to be contrary to the American
way and the American dream. If the unions have secured outstanding
salary deals and benefit packages for the workers, then why should the
workers give up those deals? By the way, the unions have negotiated and
have compromised with management over the last 10 to 20 years.
Management has not "managed" the business in a profitable
manner. I can not understand the reason Republicans want to prevent the
American labor force from making a descent wage. The will say,
"non-union workers in non-union states make much less than union
workers in union states." I say, "more power to the union
workers". Since when must competitive workers be held at a
comparable rate of earnings. This does not make sense to me. The unions
are not perfect. They have made mistakes. Yes, they have been guilty of
excessive demands, but over history the unions have made the middle
class. Now conservative, pro-business politicians want to break the
unions and the middle class. We do have a problem. It is much bigger
than the economic recession. It has to do with equitable treatment of
all members of the American economic system. We better solve it. Or at
least, make it more equitable and fair. Do we believe in the free market
system, competition and capitalism or not?
Wednesday, December 10, 2008
Never a dull moment in American politics. I can not believe the
corruption in Illinois politics. The governor is definitely an American villain.
He seems to be a real "bad guy" according to the news of the
day. Apparently he has been under FBI surveillance for awhile for a
number of illegal activities. I do wonder why the FBI acted so swiftly
concerning the alleged "pay to play" scheme concerning the
selling of President-elect Obama's former senate seat. Maybe the FBI and
the powers that be wanted to thwart any action by the governor in
naming the senate successor. If that is true, then it was a prudent
move. The Obama replacement would be tainted if the governor did make
the selection. Perhaps this Illinois corruption will affect the start of
the Obama presidency. I hope not. The country has too many problems that
need immediate attention. The President-elect and more importantly the
American people deserve better. Time will tell. I have a feeling that
this story will grow and there will be more to be discovered or should I
say uncovered. The Republicans are probably grinning right now. They may
see this situation as an opening to discredit the next administration.
This is American politics at it's worse. However, we must get to the
bottom of this mess, those involved must be held accountable and then we
must move on. Move on to the next political scandal - Democratic or
Republican. Now, I
am totally against the so-called bailouts. I was reluctantly in favor of
the bailouts a few weeks ago, but now I believe that they are being used
as a scapegoat. Maybe the businesses and financial institutions involved
should go bankrupt and take the consequences. I think that is the
American way. It is the way of capitalism and the free market system.
School districts are getting involved in the bailout request. The
Broward School Board, Ft. Lauderdale, Florida has voted to request a
bailout to the tune of millions of dollars. In my opinion, this is
stupid. Just plain and simply stupid. There is no other word for it.
Number one, school districts are a local matter. The federal government
should definitely stay our of local, state concerns. Yes, economic times
are hard, but the state in conjunction with local municipalities should
solve school funding problems. We must not allow the federal government
to assume the status of the nation's ATM at the expense of the security
and credibility of the American way of life. People, business and
financial institutions must be held accountable for their actions. We
must learn to live within our means free of selfishness, greed,
corruption and incompetence.
Saturday, December 6, 2008
According to The Pulse of Equality survey, which was commissioned by the
Gay & Lesbian Alliance Against Defamation (GLADD), a majority of
Americans (75%) favor gay rights, gay marriage and gay adoptive parents.
The percentage is uncharacteristically high, in my opinion. The survey
showed that an overwhelming majority of Americans in different demographical
categories support full and complete civil rights and full protection as
stated in the Constitution including marriage, domestic partnerships or
civil unions as well as the adoptive parent issue for gays and lesbians.
Although the percentages for some of these groups were not as high as
75%, but well over the 50% criteria. The group of Americans who showed
the least support for gay rights was the Evangelical Christian group.
The very group that purportedly says that we are all God's children and
enthusiastically spreads the message of the gospels - love. Now is this
hypocritical or not? Well, that's another story in and of it's own. I've
commented many times on the hypocrisy of the Evangelicals as well as
many of the other organized religions. If this survey is accurate, then
why do most gay rights ballot issues fail? First, I would take issue
with the fact that this survey was "commissioned by GLADD". I
would always be a little suspicious of the results of any survey
commissioned by any group that stands to benefit from the results. Was
this a fair, independent and unbiased survey? I do believe that the
majority of Americans support complete constitutional civil rights for
gays and lesbians, but not 75%. That seems a little high to me. As far
as the ballot initiatives not passing, all elections are a function of
the turnout. When it comes to gay rights, the evangelical conservative
base considers it an occasion for martyrdom, so to speak. They flock to
the polls in order to spread their gospel of hypocrisy and hate. What is
the problem with these people? Why are they so distressed by gay and
lesbian people? The answer is simple. It stems from a combination of
arrogance, ignorance and misguided self-righteousness. Jesus Christ was
a man who spread love, love for all people. He even chastised the people
of the day in the gospels for their lack of love and respect of one
another. He even chastised them for being judgmental and for not
maintaining the separation of "the things that are Caesar's and the
things that are God's". As I've said before in this blog, the next
civil rights fight is that of gay rights. Again, they are here, they
aren't going away, get use to it. As far as the ballot issues, many more
Americans must vote. The results of American elections are skewed in
favor of the politically connected conservative base. Conservatives do
get out to vote. What a true democratic society must maintain is a
strong electorate in all elections composed of a distinct cross-section
of all American demographics. Anything less will produce election
results that are unreflective of the real American citizenry. Americans
must flood the polls in each and every election much like they did on
November 4, 2008. The vote must represent all facets of American life.
Our election results must be representative of the American landscape.
Now that is true democracy.
Friday, December 5, 2008
I saw the movie Role Models the other day. Not bad. A nice
light comedy. It was just what I needed. I laughed and laughed all
through the movie. Paul Rudd and Seann William Scott were definitely
funny. The boys who were the beneficiaries of their so-called role
modeling did outstanding jobs, too. It seems that most comedies these
days don't just provide an escape for their patrons, but a lesson is
usually contained in the plot. I think the lesson in this movie was, be
yourself and do the things in life that interest you. Makes sense. It
makes more sense in the context of the movie.
Tuesday, December 2, 2008
Black Friday and Cyber Monday were great successes. The sales
rate was up around 3% from last year. According to a retail spending
report, sales were only up a little more than 1% from the previous week
in November this year. Sales may be up, but profit margins are almost
flat. The drastic drop in prices, some more than 75%, doesn't leave too
much room for the profit margins for the retailers. One optimistic sign
of the times, many shoppers purchased household items and other things
needed for daily living. The price reductions allowed many people to
make those vital purchases. I think Christmas gift giving this year will
have a theme of practicality. In any case, I hope that Americans
re-evaluate their financial situations and spend accordingly. Families
must approach this financial situation as a family. Realistic, prudent
spending within ones means must be the rule of thumb for individuals,
families and all Americans. If you do not have the cash for Christmas
spending this year, then discuss the situation with your family or
significant others and act accordingly. Small children will understand.
Yes, they may be disappointed, but they will not only understand, but
will gain a valuable lesson in household financial spending. Even if you
have the cash, you may want to curtail the extra expenses this holiday
season. The now official recession may last several years. This point in
time, may be a defining moment for the United States spending practices
as well as for individuals and family attitudes towards spending. We
must revise the so-called American dream. Isn't happiness, freedom and
being in the presence of loved ones the real American dream? I think so.
We must be vigilant with holiday spending and spending forever. Cash not
credit must be the mode of financial transactions in today's world.
Credit does have a vital place in our individual spending, but it must
not be used as a cure-all in order to purchase whimsically. Cash may
become the standard for American economics. Unscrupulous credit spending
is tightening in our financial affairs. People who abuse credit, buy on
impulse and thus usually carrying a debt standing will see their credit
resources drying up. Credit, even real estate line of credit will be
nonexistent for the person who abuses credit. Yes, these are hard times.
Yes, sometimes we may need to use credit. But credit can not and will
not be our scapegoat any longer. We must be held accountable for our
individual and family economic dealings. The next few months will be
devastating for many American workers. Many will lose their jobs. In the
foreseeable future, maybe several years, many more Americans will suffer
job loss among other economic liabilities. Many Americans will suffer.
However, some may turn the suffering into lessons to be learned. Some
may view this economic dilemma with the same optimism that defines
America. Learn from this situation. I don't have all the answers,
especially for the people who are currently cash strapped, unemployed or
soon to be and losing their homes. I don't know what to tell these
people. Maybe they should be told that now is the time to align with
family and friends. Families and friends must support each other, now
more than ever. One point I am confident about, don't turn to drugs,
alcohol or any other form of momentary pleasure which will definitely
cause permanent disaster. We will get through this recession. I do caution
people to not feel overwhelmed and overly pessimistic by the national
economic problem. It is much more important to deal with our individual
and family financial hand dealt. It is much more prudent to try to solve
our individual and family problems and leave the politics of the
national recovery to the politicians, economists and heads of
government. I will emphasize, in the midst of these troubling times, it
is possible to be happy and optimistic especially at the holiday season.
If you are alive, in reasonably good health and surrounded by loved ones
(related or otherwise) celebrate and give thanks. It is still a
wonderful life.
Monday, December 1, 2008
It's beginning to look a lot like Christmas...to say the least.
Every year it seems like the Christmas season just springs on us without
notice. It just seems that way because most people are so time
challenged that they hardly know what day it is let alone enjoying that
day. That might be the problem. People just don't appreciate and enjoy
each minute of each day. That's a shame. The solution: slow down, enjoy
the moment, it may be your last moment in time. I know you're busy, you
have things to do. Well, so do I. Get over it and slow down. Make the
time for the little things in life. The inconsequential things in life
are sometimes the most remembered and heartfelt experiences that will
remain with you forever. You owe it to yourself and you owe it to those
people in your life who you call special. If we can't enjoy life now
during the holidays, the most wonderful time of the year, then we will
never make the time for the memories. In the end, it's the memories that
will sustain us.
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