To have a recession during a presidential year is not unusual. To have a bank crisis isn't so unusual (remember the 1980's saving and loan crisis). It seems to always to evidence itself in the real estate market most dramatically. The real estate market is driven primarily by the ability to acquire loans and optimism; both of which are lacking at this time. How do we remedy those problems? We make money more available to the banks and we focus on the good news and not the bad. President Obama should give equal billing to good things that are happening in our economy and not just the things that are going wrong and need fixing.
When there are scientific breakthroughs we need to hear about it and celebrate it. When there are inovative ideas being implemented we need to know about it. We need to know about the personal successes of people who have overcome great odds and obstacles. We need to know about great companies and organizations who are doing great and wonderful things.
Let us hear about those who have given of their time, talents and money to help others in need.
I'm a great believer in the Law of Attraction. I believe if we truly believe we can do something and visualize it, write it out, make a dream board, and assure ourselves each day that it is happening then it will happen.
So can we get some positive news? Can we dream of a great country and world where we all are working to help each other? Can we affirm that this is a world of plenty and we have enough?
Let's concentrate on being thankful each day for what we have and not what we do not have. Let us greet each day with optimism and thankfulness; not fear and dispair. Make someone smile each day; reach out!
Monday, February 23, 2009
Monday, February 16, 2009
What will change as a result of the economic meltdown?
I just finished reading an article in this month's Atlantic Monthly discussing the economic recession and the likely results we'll see in America and the world.
It seems we may not be the big players in the international financial markets in the future due to the crash of Wall Street and the lack of credit which has resulted from that event. We have allowed the cost of two wars that were started with no exit plan in place. It was almost like we were suffering from A.D.D. We started in Afghanastan with a stated purpose of taking down the Taliban, but as soon as we scattered them from the cities and towns we directed our attention on Iraq and forgot about Afghanastan.
The people responsible for 9/11 may have been trained in Afghanastan by the Taliban, but they were all from Saudia Arabia. We failed in capturing the leaders of the Taliban; we failed in Iraq by not planning beyond the fall of Hussian.
We have additionally spent billions on Homeland Security and hundreds of billions on the military, not including the longterm costs of the wounded and battle scared soldiers.
These decisions have caused us to borrow far beyond our means and allowed this country to recede into a financial hole that could reasonably cause our country to crumble.
So how does the future look? Without drastic spending cuts and the ending of our occupation of Iraq and Afghanastan we're likely to find our financial markets crashing even further Maybe the stimulus package will work, but I don't have much confidence in it doing anything but driving the value of the dollar lower.
Look for more bankruptcies, more layoffs, more pain. I hope I'm wrong.
It seems we may not be the big players in the international financial markets in the future due to the crash of Wall Street and the lack of credit which has resulted from that event. We have allowed the cost of two wars that were started with no exit plan in place. It was almost like we were suffering from A.D.D. We started in Afghanastan with a stated purpose of taking down the Taliban, but as soon as we scattered them from the cities and towns we directed our attention on Iraq and forgot about Afghanastan.
The people responsible for 9/11 may have been trained in Afghanastan by the Taliban, but they were all from Saudia Arabia. We failed in capturing the leaders of the Taliban; we failed in Iraq by not planning beyond the fall of Hussian.
We have additionally spent billions on Homeland Security and hundreds of billions on the military, not including the longterm costs of the wounded and battle scared soldiers.
These decisions have caused us to borrow far beyond our means and allowed this country to recede into a financial hole that could reasonably cause our country to crumble.
So how does the future look? Without drastic spending cuts and the ending of our occupation of Iraq and Afghanastan we're likely to find our financial markets crashing even further Maybe the stimulus package will work, but I don't have much confidence in it doing anything but driving the value of the dollar lower.
Look for more bankruptcies, more layoffs, more pain. I hope I'm wrong.
Saturday, February 7, 2009
Reconnecting with friends
This has been a great week for me. I have been able to connect with friends I haven't seen in a few years and learn about things going on in their lives and hearing about their quests.
My first visit was with a couple whose son grew up with my son and they were pals until my son's death. We were able to visit about their getting acclaimated to new surroundings since they have now moved to Austin. The challenge is finding things to do that they love that will keep them active. We agreed we would work on getting together more and find things to do together.
My second encounter was with and old friend I haven't seen in several years. Her son, Bryan Burroughs, is an author. He has a new book just out that will make the NY Times Best Seller List next week at number 11; the book is The Big Rich. His previous book has been made into a movie that is due out this summer entitled: Public Enemies. I went to Book People Bookstore last evening to hear him discuss the book and visit with he and his mother. I purchased the book, he signed it and we discussed how he might become involved with The Busby Foundation.
I'm excited about the prospects of continuing this renewed friendship.
I have determined there are no accidental meetings in our lives. People who come into our lives are there for a reason; they help form who we are and how we view our purpose in life. I'm determined to continue my quest to reconnect with those whose lives have crossed my path in my life and to thank them.
My first visit was with a couple whose son grew up with my son and they were pals until my son's death. We were able to visit about their getting acclaimated to new surroundings since they have now moved to Austin. The challenge is finding things to do that they love that will keep them active. We agreed we would work on getting together more and find things to do together.
My second encounter was with and old friend I haven't seen in several years. Her son, Bryan Burroughs, is an author. He has a new book just out that will make the NY Times Best Seller List next week at number 11; the book is The Big Rich. His previous book has been made into a movie that is due out this summer entitled: Public Enemies. I went to Book People Bookstore last evening to hear him discuss the book and visit with he and his mother. I purchased the book, he signed it and we discussed how he might become involved with The Busby Foundation.
I'm excited about the prospects of continuing this renewed friendship.
I have determined there are no accidental meetings in our lives. People who come into our lives are there for a reason; they help form who we are and how we view our purpose in life. I'm determined to continue my quest to reconnect with those whose lives have crossed my path in my life and to thank them.
Wednesday, February 4, 2009
What would stimulate this economy?
I have been wondering what the big deal is about trying to decide what will make this economy get back on track. What has caused the economy to stall? Lack of spending seems to be the answer. So if businesses were able to sell and the market was allowed to begin moving again we should be able to get back on track.
Let's spend as much as possible on infrastructure projects that are already designed and ready to begin work; build the energy grid; purchase heavy equipment needed for the military and infrastructure projects, build and repair schools and public buildings; build tourist centers in national and state parks, repair and rebuild the Gulf Coast damaged by hurricanes, develop electronic medical records, research on energy efficiency and alternate energy sources. Build public transportation systems, rebuild sewer and water systems that are in critical need.
Tax stimulus: No income taxes or alternate taxes on individuals incomes less than $50,000 annually and couples less than $75,000 annually; tax credits for equipment purchases to be written off first year at 150% of cost; tax credits of 175% for employee insurance expenses; lower corporate income taxes to 28%; tax credit of 50% for purchase of a vehicle during 2008.
130% tax credit for charitable donations during 2008.
Accelerate the depreciation schedule for real estate (commercial) to 12 years; Provide 3% interest on loans on real estate, family housing up to 4 units, on amounts up to $400,000 with 30 year amortization;
Purchase up to $350B to buy mortgages and provide the ability to rework the terms of those loans. Holders of loans that rework home loans at least two months in arrears will be provided a tax credit of one-third of the principal amount of the loan.
Let's spend as much as possible on infrastructure projects that are already designed and ready to begin work; build the energy grid; purchase heavy equipment needed for the military and infrastructure projects, build and repair schools and public buildings; build tourist centers in national and state parks, repair and rebuild the Gulf Coast damaged by hurricanes, develop electronic medical records, research on energy efficiency and alternate energy sources. Build public transportation systems, rebuild sewer and water systems that are in critical need.
Tax stimulus: No income taxes or alternate taxes on individuals incomes less than $50,000 annually and couples less than $75,000 annually; tax credits for equipment purchases to be written off first year at 150% of cost; tax credits of 175% for employee insurance expenses; lower corporate income taxes to 28%; tax credit of 50% for purchase of a vehicle during 2008.
130% tax credit for charitable donations during 2008.
Accelerate the depreciation schedule for real estate (commercial) to 12 years; Provide 3% interest on loans on real estate, family housing up to 4 units, on amounts up to $400,000 with 30 year amortization;
Purchase up to $350B to buy mortgages and provide the ability to rework the terms of those loans. Holders of loans that rework home loans at least two months in arrears will be provided a tax credit of one-third of the principal amount of the loan.
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