Category Archives: The Economy and its effects

Mr. President, please let me see you sweat

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Mr. President, I am sweating.  I am sweating the outcome of the healthcare reform votes.  I am sweating the outcome of financial system reform.  I am sweating the recession.  I am sweating Iranian nuclear proliferation.  I am sweating global warming.  I am sweating more troops in Afghanistan, which just seems to be a quagmire.  In short, everything on the micro-level of my life seems still as precarious as it was when you were elected. 

We elected you in part for your No Drama Obama comportment and you words of empowerment and calm assurance.  But now I want to see you sweat, too, Mr. President, in a take charge way.  Twist some arms to get the reform you promised.  Support the process of stripping health care insurers of the anti-trust immunity if they are bad players. 

LBJ was not Mr. Nice Guy when it came to getting Medicare passed.  And generations of Americans are in his debt.

Mr. President, be principled, be honorable and please be ready to rumble in order to get things done.

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It is time for us to make things again in this country

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Toxic drywall?  Lead in children’s toys?  Poison in toothpaste? US souvenir shop trinkets “made in China”?  Disposable furniture?

This is not economic protectionism.  This is health protection and consumer protection (Ok, not the trinkets in the souvenir shops or the furniture.)  These are valid reasons to make the products here, subject to our health and safety standards.  (Which could use some updating — new recall of beef today.)

Yeah it is cheaper to import the stuff, until the first child died, and then the price was too high.  And that was years ago and still we import this stuff.

I am not advocating tariffs, because that is not the point. 

Let’s make things again in this country.  If it costs a little more then we will think twice before we toss it out for the new model.  We will actually save money by investing in quality things that last awhile.  And it is good for the economy and environment, too.

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Insurers dropping Chinese drywall policies

By BRIAN SKOLOFF, Associated Press Writer – Thu Oct 15, 10:45 am ET

WEST PALM BEACH, Fla. – James and Maria Ivory’s dreams of a relaxing retirement on Florida’s Gulf Coast were put on hold when they discovered their new home had been built with Chinese drywall that emits sulfuric fumes and corrodes pipes. It got worse when they asked their insurer for help — and not only was their claim denied, but they’ve been told their entire policy won’t be renewed.

Thousands of homeowners nationwide who bought new houses constructed from the defective building materials are finding their hopes dashed, their lives in limbo. And experts warn that cases like the Ivorys’, in which insurers drop policies or send notices of non-renewal based on the presence of the Chinese drywall, will become rampant as insurance companies process the hundreds of claims currently in the pipeline.

[rest of article omitted]

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Out of the mouths of babes come truths

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At a town hall meeting, a fourth grader asked President Obama why everyone hated him.

I think we should stop wondering about the kid who was NOT aloft in a hot air balloon and we should think about what this fourth grader asked the President. It is easier to wonder about hot air balloon boy, his family’s interest in science experiments and their appearance as contestants on “Wife Swap”.  Putting this family under a microscope helps us avoid bigger and, dare I say, more important, issues.

Focusing on the fourth grader’s question requires us to look at how we behave.

We have to examine the tenor of our disagreements, the personal nature of the attacks, our fears for the future of our way of life and our desperate anxiety about not being all powerful on the international stage.

From the simplicity of his question, the following things came to mind:

1. We need to disengage from the-ends-justify-the-means view.  There is another word for “means” and that word is “barbarism” — i.e., torture, character assassination, lies, bribes, etc.

2. Passion for one’s cause not require person attacks, lies and defamation.  Passion is evident in the force of one’s argument and tireless efforts promoting the cause.

3. There is room for the loyal opposition.  When did we forget the phrase, “my country, right or wrong”?

The goal should be fair and open, vigorous and informative debate, “deciders” act for the common welfare and everyone abides by the result.  If losing means you make up lies and propaganda and continually do things disrespectful of the government, then you don’t deserve to be a citizen.    I was pretty unhappy when GW Bush was declared winner in 2000 and elected in 2004 and every time he did something with which I disagreed, I always hoped that his decisions were right.  Because if he were, the country would suffer.

4.  We must be willing to see the flaws in our own arguments.

I’ll start.  I believe that the public option insurance is necessary, but no one can predict the price tag and it really could be too costly right now.  Maybe in five years, we could afford it.

Also, Afghanistan is a quagmire with a corrupt government.  Nation-building is always a disaster.  I don’t believe that President Obama should send more troops.  In fact, we should remove our troops and seek a relationship with a fairly elected government.  But we should continue to bomb out Al-Qaeda.  (I’m feeling pretty extreme this afternoon.)

Now, let’s look at the GOP who use the slogan, “America First”.  WAIT, do you think Democrats don’t put America first?  Are you delusional?

Let’s look at the facts of the GOP’s putting America first:

  1. Under GOP leadership, manufacturing jobs went overseas in astounding numbers, and promoted the burgeoning economies of India and China.
  2. Refusal to meet with Iran (and GWB’s botching of several opportunities for some sort of freeze) only increased its determination to build nuclear weapons.
  3. The war in Iraq made us indebted to the Chinese government in an insane amount.
  4. Our armies cannot continue another war without a DRAFT.
  5. Our need for fossil fuels has made Russia a necessary player.
  6. De-regulation almost brought this mighty nation to its knees and then the small government politicians had to bailout the banks (SOCIALISM, anyone?)

Now, explain to me again why the GOP blames President Obama for having to forge new diplomatic relationships and alliances?

(Now tell me the truth.  Was I ranting?)

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Run home. Run like the wind.

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This was my sister’s plea to me while I was away on my business trip to Texas.  Run home.  Run like the wind.

That was after I told her about the sign prohibiting weapons in the bar/lounge.  (Why do people need to be reminded that weapons don’t belong in a bar/lounge.

Renting a car in a city of freeways invites problems, especially for me, someone born and bred on the Island of Manhattan, amd driving in the Big Country.  But it is ok to have lapses of judgment on the little things.  I just hate having to ask people to call taxis for me everywhere.  I thought I would feel more in control having a car.  Also, I had a few different meetings scheduled during my trip. 

I had a GPS gizmo.  I kept typing in LBJ Freeway which, by the way, is the largest vehicular artery into Dallas, and the GPS gizmo didn’t recognize it.  Everyone calls it LBJ Freeway, so it never occurred to me to type in Lyndon Baines Johnson Freeway.  Doesn’t GPS recognize “JFK Airport”?  So I was driving blind, knowing only that LBJ Freeway is 635 and I wanted to go east.  Dallas is sprawling so I was driving for what felt like hours and seemed not any closer to anything looking like a business district.  I did make it finally, with my brother’s help in the last few minutes, so I could meet him for lunch.  GPS worked after that. 

It was a good trip and I saw friends and family and did a little business.  But, I missed my family and was ready to come home. 

I tried to get an earlier flight, which was already delayed 3 hours.  Sometimes I was No. 2 on standby and sometimes I was kicked to No. 10.  No one could tell me why.  The attendants wouldn’t let a husband and wife fly together, but they bumped me as I was about to get on the plane because a 20-something woman needed to connect in NY for a flight to VT for a wedding weekend that started the next day (with wedding probably on Sunday).  No one asked if it was ok with me. I would have said, “sure” but I would have insisted on priority standby status in return. So, of course, the airline staff knew better than to ask me or make eye contact with me. That enraged me but I kept it in check, since I don’t break FAA or TSA rules because Homeland Security still makes me think of Dick Cheney and so it freaks me out. And I dropped to 22 on standby for the next oversubscribed plane that was also delayed.

So I just went to the counter of the NEXT flight and met a perky customer assistant who told me there were 20 unsold seats on the flight.  I knew that all the people ahead of me on the new standby list would fill those seats, so I paid a transfer fee and got a seat with a seat assignment and everything.  Then all the angry people who didn’t get on the second flight came storming through the airport to get on my flight.  Cost of transfer ticket: $50; the smug feeling that you’ve outsmarted the hoards: priceless.

All of this so, as a result of delays, I could leave LATER than my original departure. But I think my scheduled flight was canceled because after awhile, LaGuardia shuts down. The thoughts of being trapped in the Republic another night and staying at an airport hotel were more than I could handle.

My earlier smugness had a karmatic boomerang effect.  The man across the aisle on the plane was really loud and was the kind of guy who acts as if all the world’s his stage and every comment is for his benefit and requires his response. Then he had two gin and tonics. The perfunctory handing out of the ear phones was cause for a lively (no, actually, deadly, deadly boring and exasperating) exchange between this guy and the flight attendant. I put my ear plugs in just to close out the noise.

All in 9 hours either in an airport or on a plane.

So while I wanted to run, run like the wind, I schlepped in a glorified cargo pit. G-d, I love this City, even the gross cab air freshener.

 

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School days

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Today was our parent-teacher conference.  Our son is blossoming at his new school.  The feedback is that, although he has some areas that require work, he is smart, well-liked and presents as a kind, warm-hearted kid. (Note to self: confirm we are really talking about the same child.)  That is great news.

After the conference, we wait because he wants to come out and greet us.  He runs into our arms and then runs away because he is in the middle of something he finds fun. (Note to self: wait until later to cry over how independent he is.)

After last year’s terrible experience in a large public school, my son who needs some extra attention, is finding his place in his new school.  And we, his moms, are slowly shedding the stress of last year and enjoying the re-kindled love of school and learning.  (Note to self: approach networks about a made-for-TV movie.)

It is true that a parent is only as happy as his/her saddest child.  Today, my son is happy.  And if my son is happy, then the economy can stink (but not for much longer).  Life is good today.

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Fighting the Hopelessness

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I come from strong stock. My parents were born in the 1920s to immigrant, semi-literate parents.  My parents were in their late 30s and early 40s when they had us.

They lived through the depression, the wars and made the galactic leap beyond the Lower East Side and Pelham Parkway (in the Bronx) to settle down in midtown Manhattan. We had all of the advantages and none of the handicaps of my parents’ and grandparents’ generations. My grandfather would shake his head — anything is possible in America.

We were raised to expect to work hard and succeed. Success was the inevitable end of hard work. You could miss Mother’s Day or a family celebration — even great uncle Lou’s retirement party — if you were working. (But you couldn’t miss a funeral or a shiva because even if you didn’t like the person alive, G-d forbid you wouldn’t pay your respects after the end. But I digress.)

Success was measured by your ability to give more to your children and community than your parents did. A Nobel Prize was not required but not off the table either, so to speak.

I can’t live up to my heritage. Why?  I am a formerly successful lawyer, whose practice continues to crater in the aftermath of the greatest economic meltdown since the Great Depression.

But failure is not an option. No matter what, we are responsible for our lives and fear of homelessness is good.

Fear is a motivator but hopelessness is the enemy. I try to imagine that I am the protagonist in a Robert Ludlum novel about an anemic looking, gray-haired, 40-something desk jockey — ok, work with me — who fights against the great evil of NO HOPE.  So call me Joan Bourne (Jason would be too butch).

I want my family to live in comfort and I want this world to be a better place for my having been born into it. But fighting the hopelessness is overwhelming.

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Health Care Debate — in diagram form

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Whether or not to reform the health care industry comes down to some basic ideas:  what is our collective expectation of our health care options, and how can we lower costs and increase caliber of service over the long term?

1.  Do you think health care is (a) a privilege, (b) a right or (c) regardless of whether it is a right or a privilege, it is a broken system that needs fixing?  If (a), then skip to the bottom.  If (b) or (c), then go to the next question.

2.  Do you think AFFORDABLE, adequate, health care is (a) a privilege or (b) a right or (c) regardless of whether it is a right or a privilege, it is a broken system that needs fixing so those who have it can benefit from it?  If (a), then skip to the bottom.  If (b) or (c), then go to the next question.

3. Do you view health care reform as essentially a political issue?  If yes, then skip to the bottom.  If no, then go to the next question.

4.  Do you agree or disagree: companies should not be able to deny coverage for pre-existing conditions, impose annual or life time limits, or drop coverage for those who develop illness? If you disagree with all or part of the statement, then skip to the bottom.  If you agree with the statement, then go to the next question.

5.  How do you think it is best to keep premiums down? (a) a best practices safe harbor from malpractice claims; (b) cooperatives; and/or (c) public option.  If none of the above, then skip to the bottom.  If any of the above, go to the next question.

6.  How do you reduce the costs to the taxpayers of uninsured people? (a) refuse medical attention to anyone without proof of insurance; (b) require all persons residing in this country to have insurance, (c) tax those who don’t get coverage and/or (d) some other option that induces people to get coverage or at least takes the burden off of taxpayers for those who cheat the system.  If (a), then skip to the bottom.  If (b), (c) or (d), go to the next question.

7.  If you are at this question, then grab a seat at the table and start negotiating.  Let’s assume that the polls are correct and that the overwhelming majority of Americans want some kind of reform.  FAILURE IS NOT AN OPTION. LIBERALS AND CONSERVATIVES, ARE YOU LISTENING? 

 Bottom:  Here you are at the bottom.  It is a dog-eat-dog world, huh?  Just some follow-up questions: 

  1. Did you ever see Glenn Beck’s iReporting after his botched hemorrhoids surgery?  (Now he is a raging you-know-what.)  You might not trust his currently analysis after viewing the video. 
  2. Or maybe you are invincible, lucky or just too rich and selfish? 
  3. Or maybe you are delusional, like the actor Craig T. Nelson, who said no one helped him when he was on food stamps and welfare (yes, idiots can be actors). 
  4. You are a patriot, right?  So you aren’t going to leave the country when the deficit rages out of control because health care costs are ballooning out of control and the taxpayers will have to pay a large percentage of their incomes just to meet interest payments on the deficit?   
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Why I should run a major bank

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Why should I run a major bank?

  1. I have no pre-existing alliances to the current regimes. 
  2. I will learn how things ought to be run and make that the way things are done, instead of cleaving to entrenched viewpoints or defending previous stupid acts. 
  3. I don’t need to earn as much as the current big guys because that is not how I measure my worth. 
  4. I believe that there should be nothing in the fine print that undoes the agreement in the big print. 
  5. I believe that bonuses should depend on a banker’s track record of success. 
  6. I believe that common sense must prevail and paper profits are meaningless unless they reflect real profits. 
  7. The bank’s portfolio should be a healthy mix of low, moderate and high risk deals. 
  8. Kick me out in 3 years, even if I do a good job.  And give me a nice cake at my going-away party.
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Karma is a boomerang

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When all financial hell started breaking loose last year, fear was the prevalent mood.  Then, fear turned to despair, turned to anger, turned to dog-eat-dog mentality.  It seems to me, unencumbered by knowledge, information or expertise, that instead of working together toward the common good, we are scrambling to get ahead of the pack. 

Now, it is acceptable to demand unconscionable discounts on things because vendors and service providers are struggling financiallyand will make the deal even at a loss because they are cash-strapped.  There is a word for this behavior: stealing.  Shame on those who do this. 

And for those of you who do this, be forewarned, Karma is a . . . .

boooomeraaaaaaang! 

 

 

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The Go-Gos

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“Vacation is all I’ve ever wanted, vacation . . . . ”  We used to sing this Go-Gos song in college.  What did we know about needing a vacation?  We LIVED vacation (especially if you saw my GPA).

Today, at this time, in this place, at this hour, I start my vacation.  You may think that I am mocking President Obama by paraphrasing his words and using them to describe my vacation.  But I am not.  I am giddy with excitement and anticipation, even though I know that, on Monday, I will get calls from the office and have to negotiate a work-out.  Even though I know we are spending a week at the beach, sullied with a hurricane’s detritus.  Even though I know that we are in the mother of all recessions (sorry, Ben Bernanke, but we are only technically on the cusp of possibly exiting the recession) and what am I doing spending money on a beach house?  It is an achievement to make it through the Great Recession (at least so far) and live to enjoy a vacation.  A greedy little pleasure that seems a necessary escape from the world’s currently bleak landscape.

I don’t care if it rains.  I just don’t.  I will be happy to be huddled on the couch with my partner and our son, watching Charlotte’s Web, which we’ve seen innumerable times and I cry every time.  And it’s about a pig.  And I am Jewish. And there is no such thing as a kosher pig.  Let’s let THAT urban legend die.

My sister (who, you might have read, is my hero) and her husband can’t join us for the weekend because she is busy being a superhero to a former colleague in need. I wish my sister and brother-in-law could come because it would make for a wonderful family tableau of our generation, except for the absence of my brother and his family.  I don’t write often about him because we don’t have a day-to-day relationship, but he is a good man. I think we get along now better than before.

When we were kids, he used to tease me that I covered up my homework to keep him from copying (he is three years older).  The truth was that I was scared he would catch a stupid mistake and tease me until I was in tears.  It is interesting how these miscues carry through the years.  I was appalled by something he said, only to realize that I didn’t understand the reference and that I had jumped to a conclusion based on my life experience.  He has a totally different life experience now and an entirely different frame of reference than do I.  As I get older, I want more than ever to bridge that gap.  His kids are wonderful and, well, I wish his wife would like us New York family branch members more.  I wish I knew what makes her uncomfortable.  Well, we ARE loud, opinionated, bossy, sardonic, neurotic, urban dwellers, so I get her point.  But I just wish that we could get past any bad first steps and forge a meaningful bond.

Anyway, vacation and family.  Two fabulous word and fabulous together.  Am I blessed or what?

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