It may come as no surprise that one of my favorite comics of all time is Calvin and Hobbes. As the holiday season begins, I found one particularly good series of C&H strips that really speaks to what's going on right now in our economy, and really reminds me why I love this boy and his tiger so much.
http://www.lovine.com/hobbes/wonderland.html
Wednesday, November 26, 2008
The Great Depression
It's nearly Thanksgiving Day 2008.
Thanksgiving always has been my favorite holiday; it's not just because of the food. I adhere to "family and togetherness," rather than the focus on gift-giving that surrounds Christmas. I think it's soul-stealing and menial to focus on how much "stuff" can be stuffed under the tree; I have my Nana, aged 91, and my father, deceased since 1983, to thank for the marks they made on my soul about togetherness and family and the meaning of holidays.
Nana still is going strong this Thanksgiving, and for that, I am thankful. She has shrunk to about 5 feet tall, maybe less, and runs around in her tennis shoes, still able to stretch a dollar bill further than anyone I know.
And it's because she was raised during the Great Depression. Nana quit school in the sixth grade to go to work for her family; she still has her union membership book from all her years in the restaurant industry.
She waited tables nearly all her life. I remember when she would come home from the Youngstown Country Club, with her tips and leftover food that would be our meal that night.
She taught me to count money and save a penny. Never toss a penny aside like it doesn't matter. Every penny matters.
Nana owned homes and owned rental property, not only in Ohio but in New Jersey; she ran a delicatessan in East Orange, N.J., and is one of the savviest business people I know who stuck with the principles she learned in the Catholic church. You never take more than you need, and you always share what you have. Charging interest, by the way, is a sin.
She learned all that she needed to know about money from surviving the Great Depression, and she didn't realize it all those years that she reared me, but I paid close attention and I internalized everything she taught me.
As an adult, I appreciate her lessons more than she'll ever know. She used to have to eat lard bread, and make clothes out of potato sacks. In my childhood, you never went without, not under Nana's watch. In our poorest years as I was growing up, she taught me how to wash clothes on a wash board; to get them really clean, you used a plunger; we survived oftentimes on the barest of necessecities, and I can see its value now, as an adult, and as our country is in the midst of its own economic crisis.
At the University of Oklahoma, we study sophisticated models of economic prediction and theories in order to understand the performance of markets and why certain countries are mired in poverty.
While I appreciate and adore my education, at the end of the day, I follow my intuition and remember everything Nana taught me. There always are sacrifices that have to be made; you can make a meal out of can of beans; and no matter how much you don't have monetarily, you better iron your clothes before you step out of the house.
Not having money is no excuse to look like a slob. And you can always find a thrift store where you can buy a bag of shoes for $1, Nana's own version of a brown bag special.
I was reminded again of Nana's powerful lessons as I read the column I've linked to below in Fortune magazine, which is written by Walter Stoiber, aged 91, who is from Boardman, Ohio, near Youngstown, which is my hometown and where Nana and my mother reared me.
Stoiber talks about the simplicity of the time and how creative kids were forced to be; in my childhood, we had to do the same things. We could make a box into the best playhouse and garbage bags became make-shift sleds in the snow; when you did get a dollar, it went under the mattress or into a savings account. You always gave extra long, hard thought to how it would be spent, or if it would be spent at all, and this was the other lesson from Nana: You will never regret saving your money, although you will regret spending it.
Yesterday, my sister amazed me with her stories of how crafty she's gotten with coupons. She lives in Phoenix and she has managed this month alone to save 30 percent on her grocery bill overall, just by clipping coupons.
A run to the grocery store yesterday (in preparation for Thanksgiving) cost her $36 for what would have been nearly $80 worth of groceries.
That's impressive, but that's what we've been taught all these years, and now, my sister's co-workers are seeking her advice for how to save on groceries.
Read the story below. It reminds me of Nana, and it reminds me of why we DeRosa kids as adults have so much to be grateful for this Thanksgiving.
http://postcards.blogs.fortune.cnn.com/2008/11/20/guest-post-the-great-depression-as-i-remember/
Thanksgiving always has been my favorite holiday; it's not just because of the food. I adhere to "family and togetherness," rather than the focus on gift-giving that surrounds Christmas. I think it's soul-stealing and menial to focus on how much "stuff" can be stuffed under the tree; I have my Nana, aged 91, and my father, deceased since 1983, to thank for the marks they made on my soul about togetherness and family and the meaning of holidays.
Nana still is going strong this Thanksgiving, and for that, I am thankful. She has shrunk to about 5 feet tall, maybe less, and runs around in her tennis shoes, still able to stretch a dollar bill further than anyone I know.
And it's because she was raised during the Great Depression. Nana quit school in the sixth grade to go to work for her family; she still has her union membership book from all her years in the restaurant industry.
She waited tables nearly all her life. I remember when she would come home from the Youngstown Country Club, with her tips and leftover food that would be our meal that night.
She taught me to count money and save a penny. Never toss a penny aside like it doesn't matter. Every penny matters.
Nana owned homes and owned rental property, not only in Ohio but in New Jersey; she ran a delicatessan in East Orange, N.J., and is one of the savviest business people I know who stuck with the principles she learned in the Catholic church. You never take more than you need, and you always share what you have. Charging interest, by the way, is a sin.
She learned all that she needed to know about money from surviving the Great Depression, and she didn't realize it all those years that she reared me, but I paid close attention and I internalized everything she taught me.
As an adult, I appreciate her lessons more than she'll ever know. She used to have to eat lard bread, and make clothes out of potato sacks. In my childhood, you never went without, not under Nana's watch. In our poorest years as I was growing up, she taught me how to wash clothes on a wash board; to get them really clean, you used a plunger; we survived oftentimes on the barest of necessecities, and I can see its value now, as an adult, and as our country is in the midst of its own economic crisis.
At the University of Oklahoma, we study sophisticated models of economic prediction and theories in order to understand the performance of markets and why certain countries are mired in poverty.
While I appreciate and adore my education, at the end of the day, I follow my intuition and remember everything Nana taught me. There always are sacrifices that have to be made; you can make a meal out of can of beans; and no matter how much you don't have monetarily, you better iron your clothes before you step out of the house.
Not having money is no excuse to look like a slob. And you can always find a thrift store where you can buy a bag of shoes for $1, Nana's own version of a brown bag special.
I was reminded again of Nana's powerful lessons as I read the column I've linked to below in Fortune magazine, which is written by Walter Stoiber, aged 91, who is from Boardman, Ohio, near Youngstown, which is my hometown and where Nana and my mother reared me.
Stoiber talks about the simplicity of the time and how creative kids were forced to be; in my childhood, we had to do the same things. We could make a box into the best playhouse and garbage bags became make-shift sleds in the snow; when you did get a dollar, it went under the mattress or into a savings account. You always gave extra long, hard thought to how it would be spent, or if it would be spent at all, and this was the other lesson from Nana: You will never regret saving your money, although you will regret spending it.
Yesterday, my sister amazed me with her stories of how crafty she's gotten with coupons. She lives in Phoenix and she has managed this month alone to save 30 percent on her grocery bill overall, just by clipping coupons.
A run to the grocery store yesterday (in preparation for Thanksgiving) cost her $36 for what would have been nearly $80 worth of groceries.
That's impressive, but that's what we've been taught all these years, and now, my sister's co-workers are seeking her advice for how to save on groceries.
Read the story below. It reminds me of Nana, and it reminds me of why we DeRosa kids as adults have so much to be grateful for this Thanksgiving.
http://postcards.blogs.fortune.cnn.com/2008/11/20/guest-post-the-great-depression-as-i-remember/
Monday, November 24, 2008
Obama's Economic Team
This is important news.
President-elect Obama has announced his economic team.
New York Federal Reserve President Tim Geithner is replacing Henry Paulson as Treasury Secretary; Larry Summers (former treasury secretary) will lead the National Economic Council; Economist Christina Romer will lead the Council of Economic Advisers; Melody Barnes will serve as director of the Domestic Policy Council; and Peter Orszag will be the director of Office of Management & Budget.
President-elect Obama has announced his economic team.
New York Federal Reserve President Tim Geithner is replacing Henry Paulson as Treasury Secretary; Larry Summers (former treasury secretary) will lead the National Economic Council; Economist Christina Romer will lead the Council of Economic Advisers; Melody Barnes will serve as director of the Domestic Policy Council; and Peter Orszag will be the director of Office of Management & Budget.
What is a recession?
This is the most common question I've heard from people. What is a recession? Then there is the brave soul who asks, "What is a Depression?"
I could give you the technical definition ... if you want to call it technical. A recession is two consecutive quarters of NEGATIVE GDP (gross domestic product). I am always sensitive to insulting anyone's intelligence, so keep in mind that the audience for this here blog ranges greatly. I'm not going to assume that everyone knows what GDP stands for.
A depression is a deepened, protracted recession.
Or, to put it in the terms of a prof at OU: A recession is when your neighbor loses his or her job. A depression is when you lose your job.
I could give you the technical definition ... if you want to call it technical. A recession is two consecutive quarters of NEGATIVE GDP (gross domestic product). I am always sensitive to insulting anyone's intelligence, so keep in mind that the audience for this here blog ranges greatly. I'm not going to assume that everyone knows what GDP stands for.
A depression is a deepened, protracted recession.
Or, to put it in the terms of a prof at OU: A recession is when your neighbor loses his or her job. A depression is when you lose your job.
Thursday, November 20, 2008
Cartoonish Al-Qaeda
Did anybody expect a positive response from Al-Qaeda to United States President-elect Obama?
http://online.wsj.com/article/SB122714961130043621.html
http://online.wsj.com/article/SB122714961130043621.html
Wednesday, November 19, 2008
Those Pirates
So a tanker is floating in some of the most dangerous waters in the world with one-quarter of one day's total oil production from one of the most oil-rich regions in the world.
What do we know about oil, friends? We know it's the most sought-after resource, don't we?
How big is our tanker, friends?
Look at the picture at the link here
http://www.guardian.co.uk/world/2008/nov/18/somalia-oil
Just check it out.
Then, look at this link. Check out the photo of the boats the pirates use. (And pay attention, because that's not sophisticated weaponry).
http://www.guardian.co.uk/world/gallery/2008/nov/18/piracy-somalia-gallery?picture=339805476
Now, call me silly, but if I was sending a tanker with such a sought-after resource into the most dangerous waters in the world, I would anticipate the danger of pirates.
(Hint: These waters are not the most dangerous waters because of the shark population or rogue waves).
I would also laugh at the size of their boat, and I would blow those pirates out of the water. And I would have armed, trained folks on board my tanker to kick the crap out of the pirates.
Bomb those suckers back to Somalia.
In fact, I would look forward to the challenge, but that's Rambo Angie.
I know there were 18 pirates, so perhaps they had several boats. But come on. Seriously.
I'm assuming they weren't all piled onto one boat, for example, although life surprises me sometimes.
And if they were, that puts you as Tanker Master in an even better position. Use your noggin and your resources and CHARGE!
What do we know about oil, friends? We know it's the most sought-after resource, don't we?
How big is our tanker, friends?
Look at the picture at the link here
http://www.guardian.co.uk/world/2008/nov/18/somalia-oil
Just check it out.
Then, look at this link. Check out the photo of the boats the pirates use. (And pay attention, because that's not sophisticated weaponry).
http://www.guardian.co.uk/world/gallery/2008/nov/18/piracy-somalia-gallery?picture=339805476
Now, call me silly, but if I was sending a tanker with such a sought-after resource into the most dangerous waters in the world, I would anticipate the danger of pirates.
(Hint: These waters are not the most dangerous waters because of the shark population or rogue waves).
I would also laugh at the size of their boat, and I would blow those pirates out of the water. And I would have armed, trained folks on board my tanker to kick the crap out of the pirates.
Bomb those suckers back to Somalia.
In fact, I would look forward to the challenge, but that's Rambo Angie.
I know there were 18 pirates, so perhaps they had several boats. But come on. Seriously.
I'm assuming they weren't all piled onto one boat, for example, although life surprises me sometimes.
And if they were, that puts you as Tanker Master in an even better position. Use your noggin and your resources and CHARGE!
Tuesday, November 18, 2008
The Life Insurance Lecture
This evening, a friend of mine in Oklahoma went to visit her father's grave. I went along, willing to accompany someone to their parent's grave because I understand the sheer isolation of going to a cemetery by yourself, searching for the grave of your parent, and being sure that you're never going to find it.
It's one of those pesky side effects of grief: knowing that you stood at the grave site just months ago, but swearing you don't remember this particular location.
Marilyn didn't want to go alone. She's an only child, and she'll be coping with the loss of her father for a while.
This whole death thing is a fact of life; funerals are expensive; and I've experienced all this more than I've wanted to this year.
The funerals I've seen this year (five in total) have ranged in price from $6,500-$15,000.
Earlier in the day, I helped my father-in-law (Dante's stepfather, Tony), walk through some details of planning his sister's funeral. His sister, Antoinette, died unexpectedly yesterday (Monday, Nov. 17).
Tony stood by my side in Parma Hospital as we watched my mother die in March; he raced to get Father Breck and made sure that some of the final details were perfectly in place; he went door to door to funeral homes with me. I have a fierce loyalty to the people who have stood by me, and I hate that Tony is left with planning his sister's funeral.
And Antoinette didn't have life insurance.
The mother of my half brothers died months ago, and she was without life insurance. My brothers are left to foot that bill, which was right around $10,000.
I had an angel watching over me about nine years ago in the form of my Aunt Mae, who pulled me aside and said, "Your mom lives on a fixed income. Find out how much life insurance she has, and then see if you need an additional policy."
It just so happens that Aunt Mae owns her own insurance company; although it's for commercial businesses, she understands the implications of not having life insurance. Her own father had died without life insurance; in her situation, she had 10 brothers and sisters who could pitch in and they also were able to sell his house and use the profits for the burial expenses.
I don't mean to be going off on a tangent, but back to my mother, she did have a life insurance policy of $10,000, but after additional research, I found out that she and my father had borrowed against it. So its value was not $10,000 upon death. It was more like $2,000.
I took out an additional policy, and I paid the premiums. It was deducted every month from my checking account, and it covered a nice funeral for her upon her death.
This isn't very well written, but I'm tired and it's been a long day. My point is: If your parents are still living, find out if they have life insurance, and how much those policies are worth; also, make sure that you have life insurance.
You don't want to put that burden on your loved ones.
Also, check out this story below about a woman who was stuck paying for her mother's final arrangements. At the very, very low end, this funeral was $3,300.
http://www.cnn.com/2008/LIVING/wayoflife/11/14/funerals.in.recession.ap/index.html
It's one of those pesky side effects of grief: knowing that you stood at the grave site just months ago, but swearing you don't remember this particular location.
Marilyn didn't want to go alone. She's an only child, and she'll be coping with the loss of her father for a while.
This whole death thing is a fact of life; funerals are expensive; and I've experienced all this more than I've wanted to this year.
The funerals I've seen this year (five in total) have ranged in price from $6,500-$15,000.
Earlier in the day, I helped my father-in-law (Dante's stepfather, Tony), walk through some details of planning his sister's funeral. His sister, Antoinette, died unexpectedly yesterday (Monday, Nov. 17).
Tony stood by my side in Parma Hospital as we watched my mother die in March; he raced to get Father Breck and made sure that some of the final details were perfectly in place; he went door to door to funeral homes with me. I have a fierce loyalty to the people who have stood by me, and I hate that Tony is left with planning his sister's funeral.
And Antoinette didn't have life insurance.
The mother of my half brothers died months ago, and she was without life insurance. My brothers are left to foot that bill, which was right around $10,000.
I had an angel watching over me about nine years ago in the form of my Aunt Mae, who pulled me aside and said, "Your mom lives on a fixed income. Find out how much life insurance she has, and then see if you need an additional policy."
It just so happens that Aunt Mae owns her own insurance company; although it's for commercial businesses, she understands the implications of not having life insurance. Her own father had died without life insurance; in her situation, she had 10 brothers and sisters who could pitch in and they also were able to sell his house and use the profits for the burial expenses.
I don't mean to be going off on a tangent, but back to my mother, she did have a life insurance policy of $10,000, but after additional research, I found out that she and my father had borrowed against it. So its value was not $10,000 upon death. It was more like $2,000.
I took out an additional policy, and I paid the premiums. It was deducted every month from my checking account, and it covered a nice funeral for her upon her death.
This isn't very well written, but I'm tired and it's been a long day. My point is: If your parents are still living, find out if they have life insurance, and how much those policies are worth; also, make sure that you have life insurance.
You don't want to put that burden on your loved ones.
Also, check out this story below about a woman who was stuck paying for her mother's final arrangements. At the very, very low end, this funeral was $3,300.
http://www.cnn.com/2008/LIVING/wayoflife/11/14/funerals.in.recession.ap/index.html
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