Jan

1

Television, Mortgage Crisis, Recession?

Filed Under California, Economy, United States | Leave a Comment

This year, I am going to spend more time synthesizing and sharing my thoughts through my blog.

Frankly, I am disenchanted with television and how it repeats the same news story over and over. The news at 6, 7, 8, 9, 10 and 11 is nearly the same; new information is rarely presented within that six hour window and arguably a person can read more in one hour than they can watch in six.

Normally, when I return to Bellflower to spend time with my family, the television is on. I remember a few years ago I came home from school and I became extremely frustrated with the news cycle. I did not go so far as to hurl the remote at the television, though the thought did cross my mind and I laughed, that was a defining moment for me: I turned off the tube.

This winter break, I got my toxic dose of television. Each newscast mentions the holiday cheer, the seemingly excessive mall shopping and what looms ahead in 2008. The topic that taints the hourly news is the sub-prime mortgage crisis.

I first heard of the impending sub-prime mortgage crisis from Professor Gary Dymski at the UC Center at Sacramento in early summer 2007. An unfamiliar topic of seemingly import garnered my undivided attention. As Professor Dymski described the crisis, I became intrigued, although somewhat confused, with the topic. As time passed, the sub-prime mortgage was mentioned more and more in the print press and I have been following it every since.

My understanding of sub-prime mortgage is limited but basically how I understand it is that a whole bunch of people sold a whole bunch of loans to other people (we are talking hundreds of thousands if not millions of folks) whose rates would increase like the face of a cliff in a few years. In other words, as you walked through desert flats, another traveler encouraged you to continue walking knowing that you would face a vertical climb in the near future and neglected to make that abundantly clear.

Now, a whole bunch of people are starting to reach the base of the cliff and have no idea how to climb it. The government (both federal and states) are trying to help by throwing ropes down but only a few folks have the gloves to hold on; the others are out of luck.

Some argue that the government should do more to help those in need, others contend that that is the nature of markets: some win, some lose. Others argue that the government should work towards ensuring that those who point people to continue to walk through the desert should make it very clear that they will have a cliff to climb; and still others emphasize that travelers should be weary of advice given from strangers.

In sum, the range of options is from action to no action, strong action (punish companies) to weak action (individually responsibility next time), strong-independent action (individual should empower self with knowledge) to weak-dependent action (seller should empower buyer with knowledge) and so on and so forth. We can break it down into a million options.

The main argument being advanced by mainstream media is that the sub-prime mortgage crisis may lead to a recession of the economy.

The logic appears to be as follows: people can’t afford to pay for their homes, so they spend less elsewhere (like on goods and services); less people can afford homes, so the demand for (too costly) homes decreases; as demand for homes decreases, those who build homes layoff workers and those workers are now unemployed. As unemployment increases, consumer spending decreases, and less money is exchanged throughout the economy and this results in a slow down and may eventually lead to a recession or a prolonged period of slower-than-average economic growth.

I believe our economy will not enter a recession.

The sub-prime mortgage crisis is being way overblown in the mainstream media and there are several mitigating factors that weaken the perceived strength of the crisis.

For one, more people participate directly in the economy through the Internet. People are making/saving pennies, nickels and so on from selling/buying through the Internet. Our economy is becoming less representative meaning that there are less firms that employ a significant segment of the population. Thus, if a firm performs below expectations, then the ensuing shock in confidence does not reverberate as strongly because people are not as close to the firm (employed, a family member is employed, or a close friend is employed). In other words, our economy is diversifying and the Internet is helping promote such diversification.

The second mitigating factor is the amount of information available. As the mainstream media continually reinforces and seemingly increasing weakness of the economy, people have look to other sources of information that argue otherwise. On the world wide web, there is a healthy debate over the impacts of the sub-prime mortgages. Some argue doom and gloom and others argue that we will weather the storm. Somewhere in between lies the truth and I think there are more and more people who seek more credible sources of information to help them determine whether or not one source of information is true or not true.

The final mitigating factor is our increasingly educated society. As more and more people obtain higher levels of education, whether formal or informal, their critical thinking, information collection and analysis abilities, and overall understanding of the world is more complete than it was in the past. The idea is that in no other time in human history has society had as much information available to it so readily. Access to information has increased, production of information has increased and ultimately our capacity to effectively process mass amounts of information has increased. This is an idea to really be in awe of. Each time I think about it, I say “Wow� and ponder the future.

Oct

29

“For President” or “For America”

Filed Under Barack Obama, United States | Leave a Comment

Today marks 100 days (99 now) until the first presidential primary. Over the next one hundred days people will pay closer attention to the candidates, their policy positions and their vision for the future. Essentially, these next 100 days will determine, to a significant degree, which Democrat and Republican will be vying to represent our nation; the enormity and importance of these next one hundred days should not be discounted.

The tip of the iceberg gives some sense of what is beneath the surface and for me the tip of the iceberg is the name of the candidate’s campaign committee. According to the Federal Election Commission (http://www.fec.gov/) the following are the names of the major candidates’ campaign committees:

  • BIDEN FOR PRESIDENT INC
  • BROWNBACK FOR PRESIDENT INC
  • CHRIS DODD FOR PRESIDENT INC
  • COX 2008 COMMITTEE INC
  • FRIENDS OF FRED THOMPSON INC
  • HILLARY CLINTON FOR PRESIDENT
  • HUCKABEE FOR PRESIDENT INC.
  • HUNTER FOR PRESIDENT INC.
  • JIM GILMORE FOR PRESIDENT
  • JOHN EDWARDS FOR PRESIDENT
  • JOHN MCCAIN 2008 INC.
  • KUCINICH FOR PRESIDENT 2008 INC
  • MIKE GRAVEL FOR PRESIDENT 2008
  • OBAMA FOR AMERICA
  • RICHARDSON FOR PRESIDENT INC.
  • ROMNEY FOR PRESIDENT INC.
  • RON PAUL 2008 PRESIDENTIAL CAMPAIGN COMMITTEE
  • RUDY GIULIANI PRESIDENTIAL COMMITTEE INC
  • TANCREDO FOR A SECURE AMERICA
  • TOMMY THOMPSON FOR PRESIDENT (TOMMY 2008)

Please note that the ONLY candidate who is “For America” is Senator Barack Obama. (Actually, Congressman Tancredo is “For a Secure America” but his website (http://teamtancredo.org/) is titled “Tancredo for President”).

Some would argue that the name of a campaign committee has absolutely no relevance to anything whatsoever.I strongly disagree.The name of a campaign committee reflects the candidate’s thinking, the candidate’s relationship with the people he or she is wants to represent and from where power derives.

On the notion of the candidates thinking, let’s consider what being “for” something means. To me, to be “for” something is to support a position, uphold an ideal and believe in a principle. Thus, to be “for President” means that one supports the position of President (the constitutional, statutory authority it affords), upholds the ideal of being President (the leader of the free nation and free world) and believes in the principles of the position of President on both a formal and informal level. However, to be “for America” is quite different. To be “for America” means that one supports a nation of diverse people, upholds the ideal of America of a being a beacon of freedom and hope throughout the world, and believes in the principles of America of life, liberty and the pursuit of happiness. I am of the strong opinion that I rather have someone who is “for America” rather than “for President” because the former is more concerned about the history and the people while the latter is more concerned with the position for its own sake.

Next, let’s consider how the name of the campaign committee provides insight into the candidate’s relationship with the people he or she wants to represent. “For President” means that a person’s relationship with the people is through an intermediary, the position of President, while “For America” means that a person’s relationship is directly with the people. This is a fundamental difference that should not be overlooked. The question we must ask ourselves is do we want someone who leads us as president because they are president or do we want someone who leads us as a person who happens to be president? A leader is not created because they serve in a particular position; a leader is created because they recognize the inherent power in others to enact fundamental change.We must elect someone who is “For America” not “For President” because the former has a deeper connection, relationship and understanding of the people while the latter is preoccupied with the gears and levers of the machinations of President.

In the final analysis, only one candidate is fundamentally concerned with and believes in the people of this nation and that is Barack Obama. Barack Obama is not for President; Barack Obama is for America and last time I checked, I live, work and love America, not the President.

Oct

7

The Future of the Democratic Party

Filed Under Barack Obama, Election 2008, Links, United States | Leave a Comment

The Future of the Democratic Party is at stake with the 2008 Presidential Election. Our system of politics is one of parties and the two predominate parties are the Democrats and Republicans. As the Republican Party continues on a path leading to its redefinition, recomposition and reorganization, the Democratic Party is nearing the pinnacle of its preeminence. The Democratic Party is considered more inclusive, tremendously diverse geographically, linguistically, ethnically, racially and philosophically speaking, and ultimately the Party that will provide the change American society is looking for and considered by some, desperately, in need of.

Given the assertions above, the argument I intend to advance is that for the Democratic Party to have a viable, long-lasting future, some fundamental changes in the political, policy and philosophical structure of the party need to be made.

First, the selection of a presidential candidate is by and large the most defining component of the party because the candidate is considered the de facto leader of the party. The leader is granted the power to redefine the party’s platform, composition and organization at a macro level. Therefore, the question is which presidential candidate will be able to positively affect the party and the society as a whole? I believe the answer is Barack Obama.

Without a doubt, Senator Obama brings new energy, new ideas and a new generation into the political world. No other candidate can argue persuasively of such a stake. The current guard of the Democratic Party must recognize the need to replenish its ranks with new people. By selecting Senator Obama as the Democratic Party’s candidate for President, a massive wave of young and old, novice and seasoned political beings will come into the throws of influence. Over 350,000 people have given 500,000 contributions to Senator Obama’s campaign: this is more than any other candidate, Democrat or Republican. These numbers cannot be ignored nor denied their importance in highlighting the Senator’s ability to inspire people in ways that has not be experience since the 1960s.

Secondly, Senator Obama’s policy positions offer a new direction in many realms, but especially in foreign policy. Willingness to engage others of an unlike mind is a prerequisite to being president of the United States, plain and simple. To think that by ignoring the problems or the so-called problem people of the world is going to result in a solution is unexplainable and leads to the kinds of disasters that my generation and several generations after me will have to endure. In other words, communication is a powerful tool at the disposal of a leader and to think that we should not communicate directly, engage in a healthy discussion and ultimately establish a connection with another person who wields tremendous influence over their particular portion of the global community is the type of thinking that leads to wars, to death and to the breakdown in the exchange of information and knowledge.

Speaking in broad terms, this is the first time in our society were generation old truly meets generation new. In times past, the current generation was able to maintain its power because it would needlessly send the generation following it into conflict-ridden regions that would result in the loss of a significant portion of the generation following population. Fortunately, we will not repeat the error of the Vietnam in creating a lost generation. The Internet Generation is alive, it is well, and it is seeking what we all seek, a greater ability to affect positive change in society for the immediate, short and long-term.

I am of the opinion that for the Democratic Party to solidify its standing as a Party of the People and its long-term viability, it must ensure that the up and coming generation has a seat the table and the way to do that is to seat the next generation at the head of it.

Jul

4

Happy 4th of July!

Filed Under United States | Leave a Comment

Greetings! A quick happy 4th of July to everyone! I hear fireworks exploding outside. Quite warm, to say the least, in Sacramento today. I spent most of the day, relaxing, watching tv and pondering the days ahead.

Jan

4

110th Congress: An Opportunity For You to Make a Difference

Filed Under Election 2006, United States | 1 Comment

Today, Members of the 110th Congress of the United States were sworn in for a two-year stint. Their goal, I would very much hope, is to change America and, by virtue, the world.

I believe anyone can change the world, whether a mother in Mexico or father in Japan, whether a farm worker in California or a CEO in New York, whether a miner in Kentucky or a teacher in Alaska, and whether you, me, or anyone else who is willing and inclined to do so.

The 110th Congress will forever go down in history as the first Congress to elect a woman Speaker of the House, Nancy Pelosi. This should not be taken lightly.

The change the 110th Congress represents is unlike any change ever before experienced in American politics and this is just the beginning of a wave of change that the United States is going to experience. From demographic, economic, political, social and technological changes, the country and our world is rapidly evolving.

The next two years, and arguably the rest of your life, represents a prime opportunity for you to engage your federal representatives, to let them know what you think about a particular issue, whether local, national or global, and to help change America.

If you care about education, write or call your Congressional Representative and Senators.

If you care about military efforts overseas, write or call your Congressional Representative and Senators.

If you care about the environment, write or call your Congressional Representative and Senators.

If you care about your future, the future of America, and the future of this planet, then write or call your Congressional Representative and Senators.

And if you care not about anything, then find something to care about.

And remember, you have people representing you at the local, county, and state level too. Find them, contact them, and let them know what you think.

To Find Out Who Your Congressional Representative is visit http://www.house.gov/.

To Find Out Who Your Senators are visit http://www.senate.gov/.

Mar

7

2008: The Shift, A Call to Act

Filed Under Election 2006, United States | Leave a Comment

2008 will represent a fundamental shift in American politics. For the first time in over 50 years, no incumbent president or vice president will seek the Office of the President.

The historical significance of the 2008 election should not be lost on the world, the American people or the parties which seek to assert their philosophy, policies and power. For sure, this fact is not lost on me.

The 2006 election, a precursor to 2008, will serve to establish the national agenda and the time for action is now.

A power exercised is a power utilized. I encourage everyone to exercise their power to envision the future, to identify problems and potential solutions, to discuss their thoughts about the future with others, to actively and continuously engage those who vie for their vote to shape the future, and, most importantly, to make a commitment to their fellow human to work together for a better future.

Make no mistake, the future is of the utmost concern to me.

I believe each person has the power to shape the national agenda and shape the agenda we must.

———-

Important events that led me to write this post:

  • 2/25/06: IDEAL seminar, hotel room discussion with Fellows about the future of the country
  • 3/2/06: HIST 150, Vietnam War discussion, being labeled a “terrible populistâ€? and not recognizing the “failings of democracyâ€?
  • 3/3/06: Housing Office, discussion with co-workers about the shortcomings of society

Jan

16

MLK Jr. Day

Filed Under United States | Leave a Comment

A brief post to recognize that today is Dr. Martin Luther King Jr. Day.

Society has dramatically changed and it is vitally important to continue the work of this great man.

The future holds tremendous promise for our nation and we must continue to strive for excellence in all that we do.

MLK Jr. Online Resources:

Jan

10

39 Cent Stamps Now Available

Filed Under United States | Leave a Comment

I’d like to remind everyone that 39 cent stamps are now available at your local post office or online at http://www.usps.com/. ;-)

A rather mundane post? I think not. If you don’t like talking on the phone or using email to communicate, then why not return to the old-fashion way of communication: writing letters?

For only a sheet of paper, an envelope and a 39 cent stamp, you can send your family members, friends or significant other a letter they’ll remember. ;-)

Dec

28

“Wagons East!”

Filed Under Links, United States | Leave a Comment

Today, I am heading east on the highways of America with my friend Saul.

Our destination is the Grand Canyon in northern Arizona. I have not been to the Grand Canyon for at least 10 years.

The primary reason for the journey is to go out and experience what this world has to offer. Southwest America appeals to me, therefore I want to explore it.

I will take a lot of pictures and keep a journal of my travels.

You only live life once so live it up! As mentioned in John Candy’s last movie, “Wagons East!�

Nov

12

Happy Veterans Day!

Filed Under United States | Leave a Comment

A quick post to honor those individuals who have served and died for the United States. Salute.

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