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Archive for the ‘economy’ Category

RetirementLane-main_FullJust when you thought you heard it all.  What do you think?  Thanks LG for sending me this article.

When I hear my fellow baby boomers gleefully talk about their elaborate plans to retire ASAP, head for the Tuscan hills or otherwise continue their lifelong quest for self-actualization, I have to bite my tongue.

It’s not that I’m all work and no play. But there’s just something — make that lots of things — wrong, in general, with retiring at 55, 62 or even 65. I would go so far as to call it selfish and unpatriotic.

Dropping out of the workforce while still in one’s prime means ending one’s contributions to America’s strength, mortgaging our children’s and grandchildren’s future and leeching trillions of taxpayer dollars from the economy. An exaggeration? Perhaps. Some people, it is true, do not have the good health to continue working. And, yes, many jobs are pretty miserable; it’s easy to understand the desire to say, “Arrivederci, 9 to 5.”

However, if Americans retired later, either staying in their current jobs or taking up “encore careers” — what Marc Freedman of Civic Ventures calls do-good, later-life jobs — we significantly could slow the growth of our multitrillion-dollar national debt, which largely is driven by rising Medicare and Social Security costs (as the latest Social Security trustees’ report makes abundantly clear). We also could keep more people in a labor force that no longer would be growing appreciably if not for immigrants.

Thus, working longer would increase national output and personal wealth. And given our nation’s crying need for teachers, social-service workers and public servants, millions of seasoned citizens could serve our communities while giving meaning and money to people with decades of life and activity left in them. (more…)

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Bigger isn’t always better

I clipped this from a blog site called “unclutter.”

New homes, after doubling in size since 1960, are shrinking. Last year, for the first time in at least 10 years, the average square footage of single-family homes under construction fell dramatically, from 2,629 in the second quarter to 2,343 in the fourth quarter, Census data show.

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Economy not so bad??

Today I found more proof that the economy is not so bad.  On the TV program “Your World with Neil Cavuto” there was a segment featuring Ted Gibson, a hairstylist in Manhattan.   He charges $950 for a haircut.  That’s right, you read that correctly – $950 for a haircut.  Ted says that women today recognize service and value.  Value?  You mean others charge more than $950?  Ted says that his business understands what women want.  I guess he does.  He said that business has been great despite the downturn.  

Click here to watch a video clip.

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artdoddcnnI could smell a dirty rat a mile away.  I knew there was more to these AIG bonuses.  Don’t tell me no one knew they were receiving them.  Well today we learn that Senator Dodd authorized them.  This means Obama knew and certainly Fed Treasury Secretary Timothy Geinthner.  

WASHINGTON (CNN) – Senate Banking committee Chairman Christopher Dodd told CNN’s Dana Bash and Wolf Blitzer Wednesday that he was responsible for adding the bonus loophole into the stimulus package that permitted AIG and other companies that received bailout funds to pay bonuses.

Watch: I’m responsible for bonus loophole, Dodd says

On Tuesday, Dodd denied to CNN that he had anything to do with the adding of that provision.

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Why all the fuss about AIG giving $165 Million in bonuses?  What we have is a case of selective rage.  Both democrats and republicans pick and choose what to make a fuss about.  The AIG bonuses amount to less that one tenth of one percent of the total money given to AIG.  

Let’s compare this to Obama’s spending bill.  In this bill he had 8 billion in earmarks, and other related pork projects.  So let me try to do the math.  We should be upset at 165 Million in bonuses, but not at 8 BILLION wasted in pork projects?  

The hypocrisy continues…

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cokeWhat’s next?  Taxing us for the amount of air we breathe?  

 

A Utah legislator has asked his colleagues to study the potential for taxing caffeine as a new stream of revenue for the state, the Salt Lake City Tribune reported.

Rep. Craig Frank told the newspaper he had initially wanted to target caffeinated sodas and other cold beverages, but decided to look at the substance more broadly.

Frank’s proposal comes in response to failed attempts to raise the state’s cigarette taxes, the Tribune reported.

Frank told the newspaper he had seen research that caffeine can cause spontaneous abortion and psychological abnormalities, among other disorders.

States across the country are considering new fees and taxes to fill growing budget gaps. In New York, for example, Gov. David Paterson had proposed $1.3 billion in next taxes on some goods and services, including music downloads and sugar-filled drinks. He later said he would use federal stimulus money instead.

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Romney's Ski Villa in Utah

Romney's Ski Villa in Utah

With our difficult economic times, many Americans are being faced to cut back and downsize.  Lately I’m facinated with how the rich cope with these economic times.  How do they downsize?  Well today I read that Former Massachusetts Governor Mitt Romney is selling his ski villa in Utah and a home in Massachusetts.  He’s downsizing from four properties to two.

 

“The Romney children are all grown up with families of their own, and Mitt and [his wife] Ann have more space than they need,” spokesman Eric Fehrnstrom said Monday. “So they are simplifying and downsizing.”

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