Monday, January 10, 2011

Making Money Your

Weekly Pulse: GOP Plays Chicken with the Debt Ceiling

By Lindsay Beyerstein, Media Consortium blogger

Sen. Jim DeMint (R-SC) is calling for a "big showdown" over the upcoming vote to raise the nation's debt ceiling to $14.3 trillion from $13.9 trillion. The debt ceiling is simply the maximum amount the government can borrow.

Congress routinely raises the debt ceiling every year. It's common sense: Since the government has already pledged to increase spending, Congress must authorize additional borrowing. (Remember that the government is now forced to borrow billions of extra dollars to pay for tax cuts for the wealthy, which Republicans insisted on.) If the ceiling isn't raised, the United States will be forced to default on its debts, with catastrophic consequences.

Why would default be catastrophic? The principle is the same for countries and consumers alike: If you have a good track record of paying your bills, lenders will lend you money at lower interest rates. If you don't pay your bills on time, or default on your obligations altogether, lenders will demand higher interest rates.

Congressional Republicans say they oppose raising the debt ceiling because they favor fiscal responsibility. This kind of rhetoric is the height of recklessness. The interest on our debts is a big part of government spending. Even idle talk about defaults could spook some creditors into raising interest rates on U.S. debt and cost taxpayers dearly.

Steve Benen of the Washington Monthly quotes Austan Goolsbee, chair of the White House's Council of Economic Advisers, who says that congressional GOP members are flirting with the "the first default in history caused purely by insanity."

Making work pay (for real)

An astonishing 80% of full-time minimum wage workers can't afford the necessities of life, according to new research by labor economist Jeannette Wicks-Lim of the Political Economy Research Institute, featured on the Real News Network.

Wicks-Lim argues for a two-part solution to the crisis of working poverty in America: i) raising the federal minimum wage to $12.30/hr from $7.50/hr; ii) Increasing the earned income tax credit to 40% of income. She estimates that these two policy changes would raise the income of a minimum wage worker from $15,000 to about $36,000 at a manageable cost to employers and taxpayers.

Her proposal is a revamp of President Bill Clinton's attempt to "reform" welfare by cutting social service benefits and shifting government spending to tax credits. Currently, the Earned Income Tax Credit is a subsidy for the working poor that is designed to "make work pay"--i.e., if workers aren't making enough in wages to secure a decent standard of living, the government provides an income subsidy to reward them for working.

However, if a decent standard of living remains out of reach for 80% of full-time minimum wage workers, Wicks-Lim argues that the minimum wage is too low and the subsidies are too modest to achieve the stated goal of making work pay.

Colorado minimum wage inches up

Speaking of minimum wage issues, Scot Kersgaard of the Colorado Independent reports that the minimum wage in the state ticked up from $7.25 an hour to $7.36 on January 1. The modest increase represents the annual adjustment for inflation. Every bit counts, but Colorado families are falling further behind. According to a new report by the Denver-based Bell Policy Center, 8.3% of working families in Colorado live below the federal poverty line, which is $22,050 for a family of four. Fully one-fourth of Colorado families do not earn enough to meet their basic needs, which requires an income approximately twice the FPL, according to the report.

Colorado is one of only 10 states that automatically adjust their minimum wages for inflation.

Wage theft epidemic

Unscrupulous employers are stealing untold millions of dollars from hardworking Americans, Dick Meister reports in AlterNet:

The cheating bosses don't take the money directly from their employees. No, nothing as obvious as that. The employers practice their thievery by underpaying workers, sometimes by paying them less than the legal minimum wage. Or they fail to pay employees extra for overtime work, or even force them to work for nothing before or after their regular work shifts or at other times. Some employers make illegal deductions from employee wages. And some withhold the final paycheck due employees who quit.

In New York City alone, an estimated $18 million worth of wages is stolen every week. Workers in the restaurant, construction, and retail sectors are at increased risk of wage theft. Wage thieves disproportionately target undocumented workers because they assume that these employees will be less likely to report the crime.

Debt collection from beyond the grave

The dead don't tell tales, but they have been known to sign debt collection papers, Andy Kroll reports in Mother Jones. Martha Kunkle died in 1995, but her printed name and signature appear on paperwork filed by the debt collection agency Portfolio Recovery Associates as late as 2006 and 2007. The ruse was discovered and PRA, facing a fraud lawsuit, agreed in 2008 that the "Kunkle's" documents couldn't be used in court. That didn't stop the agency from trying to use them again in 2009.

The attorney general of Missouri has announced that he will investigate whether any of Kunkle's handiwork was used to support debt collection in his state. The attorney general of Minnesota is already investigating whether debt collectors have used fraudulent paperwork in court.

This post features links to the best independent, progressive reporting about the economy by members of The Media Consortium. It is free to reprint. Visit the Audit for a complete list of articles on economic issues, or follow us on Twitter. And for the best progressive reporting on critical economy, environment, health care and immigration issues, check out The Mulch, The Pulse and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.

What made this project so successful? After all, there are other iPod Nano projects. And it's a wristwatch, which even with the addition of a Nano, might not be the coolest or most necessary of accessories.

Bryce Roberts, the Managing Director of O'Reilly AlphaTech Ventures, points to some reasons he's identified that contributed to the success of the Lunatik/TikTok fundraising endeavor. These lessons that can be seen in other successful Kickstarter projects (such as Diaspora), but they're also applicable in many ways to more "traditional" funding efforts.

Tell a personal story

The Lunatik/TikTok "pitch" wasn't a bulleted list of qualifications or clients. Rather, the members of the team "told personal stories that created a connection to the project that had nothing to do with their professional pedigree." While this sort of storytelling doesn't boost their professional credentials, Roberts argues, it does give the entrepreneurs a certain personal authority and helps to connect them to funders and potential funders in a different way.

Roberts argues that the best fundraising pitches always emphasize this personal aspect. "It's a given," he writes, "that if I chose to invest in you I believe I can make money, but there are the intangibles around personality, perspectives, and life experiences that will make a potential funder more likely to want to believe you."

Tell the product's story

If you watch the TikTok video (below), you'll see the product is featured throughout. This demonstrates what the product can do - and that it can do what the startup promises. The video also demonstrates the larger potential of the product. These might be "small, nice little features" that some investors would dismiss. But with the crowdfunding model, the right storytelling around this seems crucial. "The difference between a nano strapped to a wristband and a premium quality, highly designed, customizable piece of wearable technology is simply a matter of how you tell the story."

But even when you aren't using a site like Kickstarter to raise money, it's crucial that your product be front-and-center in your presentations.

Give rewards and issue progress reports

Investors, by definition, invest in order to make a financial return. Nonetheless, argues Roberts, you should offer more than simply the promise of "making money." These sorts of non-financial rewards can be personal and personalized. By design, Kickstarter tells its users, "the best way to inspire support is to offer people great rewards. Everyone loves limited editions, one-of-a-kinds, and fun experiences (parties, screenings, balloon rides!). Spend some time brainstorming your rewards and people will respond. No one needs another coffee mug."

And as your project and your company are constantly evolving, it's good to keep investors and potential investors up-to-date on your progress. In the case of TikTok, the creators even filmed themselves in China when they traveled to the factory where the watch kits were being made. But the same could be said for all funding relationships; keep your investors apprised of "how you're making progress and how your story is continuing to unfold in a big and important way."

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

It pretty clearly seems to be a sarcastic remark about the large volume of Verizon iPhone stories. This one seems pretty redundant, of course Verizon plans to make news, why else would they call a press announcement? ...

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Fashion Industry News, Designers, Runway Shows, Style Advice. Send Tips � Advertise � About Us � Network � Above the Law � AltTransport � Breaking Media � Fashionista. Search for: Home � Fashion Shows ... Posted in: News ...

Carolyn McCarthy readies gun control bill - Shira Toeplitz ...

Joseph and Vlad, the victims in the violent home invasion earlier this week, spoke to the Mercury News on Friday on the condition that their last names not be used. They told publicly for the first time their terrified, ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

Grading the Spring 2011 Campaigns, Part 1 – Fashionista: Fashion ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

Grading the Spring 2011 Campaigns, Part 1 – Fashionista: Fashion ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

Grading the Spring 2011 Campaigns, Part 1 – Fashionista: Fashion ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

Grading the Spring 2011 Campaigns, Part 1 – Fashionista: Fashion ...

Carolyn McCarthy readies gun control bill - Shira Toeplitz ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

Grading the Spring 2011 Campaigns, Part 1 – Fashionista: Fashion ...

Carolyn McCarthy readies gun control bill - Shira Toeplitz ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

Grading the Spring 2011 Campaigns, Part 1 – Fashionista: Fashion ...

Carolyn McCarthy readies gun control bill - Shira Toeplitz ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

Grading the Spring 2011 Campaigns, Part 1 – Fashionista: Fashion ...

Carolyn McCarthy readies gun control bill - Shira Toeplitz ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

Grading the Spring 2011 Campaigns, Part 1 – Fashionista: Fashion ...

Carolyn McCarthy readies gun control bill - Shira Toeplitz ...

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Verizon Wireless is ready to make news on Tuesday | 9 to 5 Mac ...

Grading the Spring 2011 Campaigns, Part 1 – Fashionista: Fashion ...

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Friday, January 7, 2011

Making Money on Line

Values, Value and Valuation — The money is all relative

Oh how timing sometimes works out to be funny. I was driving home tonight and started thinking about the value of products, the valuation of companies and how the values that a company portrays can change the rest. No sooner had I sat down to write this piece than the news of Goldman Sachs investing $500 million into Facebook broke and refreshed the entire thing in my mind. So let’s look at these three things, and try to see if one manages to sway the rest.

Values

Do you, like me, find yourself more inclined to use or purchase something that comes from a company that you can believe in? The ethos of a company can — for me at least — completely break me away from the product. That very fact, because I feel that I’m likely not alone in my actions (or lack thereof) can have a serious impact on the bottom line of a company.

Look at Facebook, for instance. When the Social Graph was announced and the new privacy changes went into effect, many people threw up their hands in disgust. But many others continued with life as usual, even if a bit annoyed. Why? Because Facebook has this outward appearance of a company that’s simply trying to do cool things, and it needs information in order to do them. The company’s values seem, for the most part, to be in line with the things that we Internet users want. As such, there was a lot more wagging and a lot less barking from the angry dogs crowd.

You’re starting a company? There’s likely something to be said for developing an ethos ahead of time, making it known and then sticking to it. Would Google be where it is today if not for the “don’t be evil” tag line? Even if you don’t fully believe that the company runs that way, you still remember it. Point made.

Value

When value exceeds cost, even by a single cent, the purchase will be made – Grant Cardone

That quote is one that has stuck with me for some time now. A few years ago I was making my living selling cars and it is sometimes exceedingly difficult to overcome the objection of price. In the technology world, we’re constantly being offered products for “free”. The only cost? A bit of information, a slice of our privacy or somethings similar. But then, after using those “free” products, we start to build our own value for them.

Don’t believe me? Just look at some of the things that you likely use every day. Gmail? You’d pay for that. Twitter? You don’t want to admit it, but it’s likely become a valuable asset to your daily Internet life. The same can be said for so many things and yet we get them for “free”. But there’s a down side to this issue as well — it becomes very difficult for a maker to charge for a product when there are free alternatives. Don’t believe that? When was the last time that a box office movie didn’t get a torrent version?

And yet, even as companies try to build value in their products, still others think that the economy allows for them to set their own values and tell us what something is worth. TV networks are probably the most well-known perpetrators of this heresy. Apple TV launched, ABC and Fox decided to jump on board and see what would happen. Some of the rest? They decided that $.99 was devaluing the product and yet as the provider of the product, there is no one entity that is more unqualified to name the value.

Consider it a lesson in business, I suppose. The potential buyer will determine the value of your product. Always.

Valuation

Now here’s a sticky one. Valuation is one of those strange things because it means so many different things to different people. To the potential investors, it’s a measure of how much money can be made. To the business owner it’s a gauge of how well the business has done. To the end user? It’s…honestly not much.

As a case in point, around TNW we love Twitter. We want to see it succeed and we are sure that it will. The valuation continues to climb prior to any IPO and yet, as users of the service, it really doesn’t matter much to us. Sure, it would matter if the site closed its doors, but beyond that there simply isn’t anything about the valuation number that matters.

And so, as an entrepreneur you have to ask yourself where the balance lies. Do your company values allow you to build value in your product? If so, then the chances are that your valuation will end up right where it needs to be. There’s a fair amount of truth in the thought that, if you handle the small stuff, the big stuff will fall into place.

So with that, I offer you a thought going into the new year — start with your values. The rest will fall into place.

There's already a company trying to plant solar panels in highway cloverleafs.

-----------------------

http://republicpropertiescorp.com/about/solar

http://www.cloverleafsolarhighways.com/

Introducing Solar Highways

Republic Cloverleaf Solar is proud to announce its plans to bring a new approach to solar energy in Santa Clara County. Called the Solar Highways, this exciting project will bring solar farms to currently vacant Caltrans land along US Highway 101.

Proposed for seven Caltrans interchanges, the Solar Highways would intermittently stretch 20 miles from Gilroy to San Jose. The solar installations will consist of a 15-megawatt system located on 65 acres of property that will offset over 15,500 metric tons of carbon per year.

The first project of its kind, the Solar Highways will contribute numerous benefits to the community including a new viable renewable energy source, green jobs, revenue for the State of California and significant carbon emission offsets. In fact, this project will offset over two million car miles traveled per year.

The Solar Highways project will become a model for solar energy collection upon its completion. With solar energy a high priority for many key local and state agencies, this project has broad based support from many elected leaders and community organizations.

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Thursday, January 6, 2011

personal finance money management

Best Mobile Personal Finance Tool?

Earlier this year we took a look at best money management web sites, but often, tracking money on-the-go is just as important. What's your favorite tool for managing your money on the go?

Photo by Erik Hersman.

Whether you're using a mobile-optimized web site or an application specific to the iOS, Android, BlackBerry, and so on, we want to hear from you. What mobile money management tool makes it easy to manage your money when you're away from your computer?

Hive Five nominations take place in the comments, where you post your favorite tool for the job. We get hundreds of comments, so to make your nomination clear, please include it at the top of your comment like so: VOTE: Mobile Personal Finance Tool. Please don't include your vote in a reply to another commenter. Instead, make your vote and reply separate comments. If you don't follow this format, we may not count your vote. To prevent tampering with the results, votes from first-time commenters may not be counted. After you've made your nomination, let us know what makes it stand out from the competition.

About the Hive Five: The Hive Five feature series asks readers to answer the most frequently asked question we get: "Which tool is the best?" Once a week we'll put out a call for contenders looking for the best solution to a certain problem, then YOU tell us your favorite tools to get the job done. Every weekend, we'll report back with the top five recommendations and give you a chance to vote on which is best. For an example, check out last week's Five Best Resources for Free Games.

Send an email to Jason Fitzpatrick, the author of this post, at jason@lifehacker.com.

There are a few different ways to measure the power of a meme in the tech industry. You can run powerful sentiment analysis on blog posts and message boards, scour trending topics on Twitter, or just follow the money. While it’s no absolute indicator, the appearance of well-respected venture capitalists and angels in a sector is usually regarded as a serious market signal.

And “gamification,” or the use of game mechanics to boost interest in non-game applications, is no exception. The notion of engaging consumers using game thinking and game mechanics has transformed both startup pitches and later-stage company strategies. Investors have taken notice and are ramping up their funding in what they perceive as a major, multi-billion-dollar market opportunity.

In the last twelve months alone, over $10 million in seed capital has flowed into a series of disruptive, gamification-centric startups, over $25 million additional capital has gone to businesses betting big on gamification as a core customer strategy, and at least one $100 million fund dedicated in part to gamification has been launched. (Last year, more than $600 million was invested in game companies).

We interviewed key investors and companies they’ve funded to figure out what assumptions are driving their investments. They identified three distinct (but overlapping) theses about gamification’s future: It will transform people, it will transform industries and it will transform everything.

One of the believers in the transformative people power of gamification is Brad Feld, famous blogger and Foundry Group partner. As an early investor in Zynga, he saw the power of games first-hand saying in an interview that “How we interact with computers today is crazy.” Feld has a strong interest in new human-computer interactions, and his portfolio includes gamified startups like Fitbit and Oblong, as well as a lead in the $5 million-plus investment in Seattle-based gamification platform BigDoor Media.

When it comes to transforming industries, Glenn Entis knows a thing or two. He’s one of the co-founders of PDI, and a former CEO and CTO of Dreamworks and Electronic Arts. So when he and his business partner launched VanEdge Capital this spring with a $100 million fund dedicated in part to gamification, the market took notice. In explaining his thesis, Entis said that “gamification is about applying the insights and tools of game design to raise engagement,” continuing that they see “opportunities for disruptively gamified businesses everywhere – personal health care, financial management, retail, education, and more.”

Entis is on to something. Finance, education and health care are each trillion-dollar markets with 20+ years of history experimenting with games and game thinking. Whether it was the runaway success of Mint.com, the blockbuster effect of the Obama administration’s “Reach for the Top” program in education or the consumer behavior changes wrought by the Wii and Brain Age, many experts believe these markets are ripe for gamification investment. The common thread: Finance, education and health affect everyone, are cash rich, have few payers and small behavior changes can yield outsized financial benefits.

For years, major investors like Granite Ventures and Adobe have been putting money into gamification through investments in companies like BunchBall – a service and platform provider. More recently, a number of VCs have made a name for themselves in the space, including outspoken veterans Tim Chang and Josh Goldman of Norwest Venture Partners. In candid discussions, they revealed a belief that major verticals, including healthcare and retail would be transformed most, adding that in order to gain their attention, startups must design gamification “from the ground-up, based on a deep understanding of mechanics and engagement loops.” Chang’s passion for so-called smart gamification has led him to volunteer his expertise, shaping the discussion online and at events like the upcoming Gamification Summit (of which I am conference chair).

Leading the vanguard for companies that believe in gamification everywhere is recent TechCrunch Disrupt audience award winner Badgeville. The six-month-old startup’s CEO, Kris Duggan recently revealed a stellar lineup of investors behind their $3 million initial raise. The company’s early partners include Comcast and TechCrunch, and Kris says “The message is clear: [good] loyalty rewards are sorely missing on the web and mobile, and we’ve met with thousands of companies around the world looking to engage their users, customers, employees, and partners.”

Like Badgeville, Utah-based startup iActionable has raised a seed round from notable angels to transform the world into a more fun place. CEO Ryan Elkins says what makes the market a huge opportunity is that it’s about “instant feedback to consumers that is encouraging, motivating and meaningful, while giving companies data that drives better understanding.” Like Badgeville’s Duggan, Elkins’ success doesn’t hinge on a specific vertical (like healthcare) becoming an early adopter, but rather on the long tail of web and mobile content becoming gamified.

Some investors are notably skeptical of the long-tail philosophy and gamification in general. Others, such as Dave McClure, have skewered gamification in at least one expletive-laden tirade (though he’s invested in gamified companies). And even major proponents like Tim Chang have their concerns, saying, “Every entrepreneur has added game mechanics to their business model slide hoping to jump on the buzz bandwagon.” Notably, Chang and other well-known game-y VCs, such as Bing Gordon, have thus far eschewed investing in gamification platforms.

But in perhaps the most telling anecdote, during coffee on a recent Thursday, Charlie O’Donnell of First Round Capital noted “Now, when a consumer internet startup comes to pitch without game mechanics in their plan, I always ask ‘Why Not?’”

If the standard Silicon Valley hype cycle holds true for gamification, there will be some winners and some losers. A multi-billion dollar company or two (three?) will clearly emerge to dominate their sector, while the concept permeates into society. Much like Facebook/social media or Google/search before it, we come to view the underlying concept as a core part of marketing, product design and strategy long after the “startups” are no longer so small.

Perhaps the best (and last) word on gamification as an investment thesis goes to Brad Feld: “Life is one big game that machines are making us play. Therefore, I want to make sure I invest in the technology enabling the machines. I want that edge.”

Sounds sharp to me.

Gabe Zichermann is the author of the book, Game-Based Marketing (Wiley, 2010), the upcoming “Gamification by Design” (O’Reilly, 2011) and blogger at Gamification.Co. He’s also chair of the Gamification Summit coming up in January. He wrote this piece for VentureBeat. [photo source: gamification.org]

Next Story: Forrester reveals who uses location-based services the most Previous Story: Bill Clinton: Cloud computing will lead to a smarter, better world

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Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

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Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

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Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

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Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

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surface encounters michigan

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters noblesville
surface encounters rock tops

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters
surface encounters rock tops

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters macomb
surface encounters

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters rock tops
surface encounters michigan

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters macomb
surface encounters macomb
surface encounters

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters macomb
surface encounters

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters noblesville
surface encounters rock tops

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters rock tops
surface encounters macomb

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters michigan
surface encounters

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters noblesville

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters noblesville
surface encounters noblesville

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters macomb mi
surface encounters noblesville

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters rock tops
surface encounters macomb mi

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters noblesville
surface encounters rock tops

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters
surface encounters noblesville

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters michigan
surface encounters macomb mi

Helen Thomas Joins Falls Church News-Press | ARLnow.com

Former White House correspondent Helen Thomas has come out of a seven-month retirement to write a column for the Falls Church News-Press. Thomas was a.

Star Wars Complete Saga Blu-ray news: release in September, 30 ...

This might not be the 'most impressive' Star Wars announcement you were looking for. Not that it's a bad thing the complete saga will be.

Google News et Al: More Popular News Source than TV | Search ...

Where do you get your news? Certainly, newspapers have faded out as a top resource. However, if you answered from TV news programs, you're part of a group.

surface encounters macomb mi

Wednesday, January 5, 2011

how to manage personal finances

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Small Business News: Your Legal Brief

A big part of running a small business these days involves understanding legal issues, both those that could impact your business directly and those that could.

Profs Tell Fox News: Stop Making Viewers Dumber | Education ...

Need any more proof that Fox News is actually making its viewers dumber? Look no further than the latest study out of the University of Maryland. Fox's fake news program has actually managed to con... Read more of this post, Profs Tell ...

The News from Norway : CJR

Behind the News The Media. The News from Norway A comprehensive look at the history of the Norwegian American press � NYT Sports Editor Apologizes for Column Switcheroo Piece on Patriots' decline was altered after a 45-3 win ...

Tuesday, January 4, 2011

personal finance programs

On Monday, I linked to this op-ed from Tom Esvlin, Vermont's "stimulus czar," lamenting the way the money got spent. "Although I'd like to think Vermont did better than many states, much of the money ended up continuing bloated programs rather than providing a transition to a sustainable future," he wrote. That same day, Brookings' Gary Burtless e-mailed in a rebuttal that's worth quoting at length, as it's a very clear description of where the stimulus funds actually went, and why such a small percentage was directly devoted to building things. So here it is, with some edits for space:

The main problem with that silly op-ed is that it refers to only a small slice of the actual federal spending on stimulus authorized by the Feb. 2009 legislation. So far, the overwhelming share of that stimulus has been devoted to three items: Tax cuts for households; direct benefits to people adversely affected by the severe recession, mostly the unemployed or poor; and fiscal relief to state and local governments. Vermont did not need any "Czar" to receive or administer funds under these programs. The money for them quickly left the U.S. Treasury without any effort on the part of the Czar who penned this highly misleading op-ed piece. People in Vermont *directly* received benefits from the stimulus as: (1) lower federal tax withholding from their paychecks; (2) extended unemployment benefits; (3) premium subsidies so they could maintain their health insurance after they were laid off from a job in which they received health protection; (4) miscellaneous benefits (e.g., for college costs) under one provision or another; and (5) aid from the Treasury that permitted Vermont and its localities to finance their Medicaid and K-12 education programs without hiking taxes or lowering other public spending. The kinds of infrastructure spending for which the WSJ's "Czar" had some responsibility constituted a small percentage of the stimulus the Congress authorized for 2009 and 2010.

In FY 2009 and 2010, the EXPECTED spending on infrastructure and other items for which the Vermont “Czar” may have had partial responsibility accounted for just 11% of anticipated spending under the stimulus legislation. The other 89% had nothing to do with the programs criticized by Vermont’s supposed Czar. Thus, all of his complaints – even if justified – are essentially irrelevant to the programs mainly supported by the stimulus law … at least so far. Obviously, in the years 2011-2019, that kind of stimulus spending would have accounted for a vastly larger share of outlays. But (and perhaps Vermont’s Czar has not kept up with this because he does not read a daily paper) the Congress just passed and the President just signed ANOTHER stimulus program consisting of more than 90% personal and business tax cuts and less than 10% extensions in unemployment benefits. So far as I know, very little additional spending has been authorized for those hated infrastructure / technology investment projects. Below is the CBO’s year-by-year analysis of the spending authorized under the Feb. 2009 stimulus law:

My own private view is that the country would probably have been better off if *MORE* of the original stimulus had been devoted to infrastructure / technology investment (more of it would have been spent on goods and services produced in the U.S. rather than China, East Asia, and Europe). Setting aside that consideration for a minute, what infuriates me about the piece cited in your blog is that it reinforces the very widespread but totally erroneous impression that Congress and the Administration were unaware of the administrative hurdles to fast spending that the “Czar” points out in his op-ed. Those hurdles were understood from the very beginning, which is precisely the reason that infrastructure/technology investment projects constituted such a small percentage of the total package. It is perfectly legitimate to criticize the pace of spending on these projects, but it is utterly deranged to think that the slow rate of spending on the projects constitutes a serious indictment of the spending authorized under the Feb. 2009 stimulus program. Very little of the expected spending under the stimulus program (at least so far) was supposed to be devoted to those projects.

In a powerful and well-reasoned speech, economist James Galbraith (son of John Kenneth Galbraith, by the way) has strong words for President Obama. He also offers his thoughts on "where progressives go from here" (h/t Digby). It's a strong piece, well worth your careful read (my emphasis throughout).

On Obama, he says "one could say he has betrayed [our] hopes." Please check the paragraphs that lead to that sentence; they don't contain a rant, but a list.

On the future and the Democratic Party, his analysis is excellent:

What happens next? Let's again not kid ourselves, we have lost a great many seats in the House of Representatives and the House of Representatives isn't coming back into a Democratic majority in the near future. Simply because of the balance of exposures -- the larger numbers of Democratic Senators exposed to reelection in the next cycle, the greatest likelihood is that the Senate will also go Republican in two years time. President Obama has set his course. He has surrounded himself with the advisers of his choice and as he moves to replace President Summers we hear from the press that the priority is to "repair the rift with his investors on Wall Street." What does that tell you? It tells me that he does not have President Clinton's fighting and survival instincts. I've not heard one good reason all day to believe that we are going to see from this White House the fight that we want, that he could win in two years, or any reason we should be backing him now.

The Democratic Party has become too associated with Wall Street. This is a fact. It is a structural problem. It seems to me that we as progressives need -- this is my personal position -- we need to draw a line and decide that we would be better off with an under-funded, fighting progressive minority party than a party marked by obvious duplicity and constant losses on every policy front as a result of the reversals in our own leadership.

What should progressives do? He offers a list, including:

it seems to me that we as progressives need to make an honorable defense of the great legacies of the New Deal and Great Society -- programs and institutions that brought America out of the Great Depression and bought us through the Second World War, brought us to our period of greatest prosperity, and the greatest advances in social justice. Social Security, Medicare, housing finance -- the front-line right now is the foreclosure crisis, the crisis, I should say, of foreclosure fraud -- the progressive tax code, anti-poverty policy, public investment, public safety, and human and civil rights. We are going to lose these battles– get used to it. But we need to make an honorable fight, to state clearly what our principles are and to lay down a record which is trustworthy for the future. ... We are not going to get these things, but we should have a clearly defined program so that people know what they are.

Why work to do all this? Because "in the long run we need to recognize that the fate of the entire country is at stake. Its governance can't be entrusted indefinitely to incompetents, hacks, and lobbyists. Large countries can and do fail, they have done so in our own time."

And finally, about hope (a concern I hear constantly):

We need to lose our fear, our hesitation, and our unwillingness to face the facts. If we thereby lose some of our hopes, let's remember the dictum of William of Orange that "it is not necessary to hope in order to persevere."

The president should know that, as Lincoln said to the Congress in the dark winter of 1862, he "cannot escape history." And we are heading now into a very dark time, so let's face it with eyes open. And if we must, let's seek leadership that shares our values, fights for our principles, and deserves our trust.

I present this as one well-reasoned contribution to a discussion we must be having, starting now, if we are ever climb our way — together — out of this mess.

I understand that Iowa is 14 months away, give or take. That's not much time. I'm not making a recommendation yet; but I am saying that whatever progressives decide to do, we need to decide it soon. I offer this speech as one voice in that discussion.

Yours in perseverance,

GP

robert shumake detroit

Social News Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL News

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.

robert shumake detroit

Social News Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL News

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.

robert shumake

What happens next? Let's again not kid ourselves, we have lost a great many seats in the House of Representatives and the House of Representatives isn't coming back into a Democratic majority in the near future. Simply because of the balance of exposures -- the larger numbers of Democratic Senators exposed to reelection in the next cycle, the greatest likelihood is that the Senate will also go Republican in two years time. President Obama has set his course. He has surrounded himself with the advisers of his choice and as he moves to replace President Summers we hear from the press that the priority is to "repair the rift with his investors on Wall Street." What does that tell you? It tells me that he does not have President Clinton's fighting and survival instincts. I've not heard one good reason all day to believe that we are going to see from this White House the fight that we want, that he could win in two years, or any reason we should be backing him now.

The Democratic Party has become too associated with Wall Street. This is a fact. It is a structural problem. It seems to me that we as progressives need -- this is my personal position -- we need to draw a line and decide that we would be better off with an under-funded, fighting progressive minority party than a party marked by obvious duplicity and constant losses on every policy front as a result of the reversals in our own leadership.

What should progressives do? He offers a list, including:

it seems to me that we as progressives need to make an honorable defense of the great legacies of the New Deal and Great Society -- programs and institutions that brought America out of the Great Depression and bought us through the Second World War, brought us to our period of greatest prosperity, and the greatest advances in social justice. Social Security, Medicare, housing finance -- the front-line right now is the foreclosure crisis, the crisis, I should say, of foreclosure fraud -- the progressive tax code, anti-poverty policy, public investment, public safety, and human and civil rights. We are going to lose these battles– get used to it. But we need to make an honorable fight, to state clearly what our principles are and to lay down a record which is trustworthy for the future. ... We are not going to get these things, but we should have a clearly defined program so that people know what they are.

We need to lose our fear, our hesitation, and our unwillingness to face the facts. If we thereby lose some of our hopes, let's remember the dictum of William of Orange that "it is not necessary to hope in order to persevere."

The president should know that, as Lincoln said to the Congress in the dark winter of 1862, he "cannot escape history." And we are heading now into a very dark time, so let's face it with eyes open. And if we must, let's seek leadership that shares our values, fights for our principles, and deserves our trust.

robert shumake detroit

robert shumake

Social News Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL News

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.

robert shumake

Social News Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL News

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.

robert shumake

The personal finance community on the internet has grown exponentially in the last few years. The number of blogs which discuss topics about money has to be in the hundreds, and they are not all the same. There are fundamentally different viewpoints on different blogs. Some blogs offer great advice, some should not be listened to. Some get thousands of visitors a day and some get just a few. There are a lot of dirty little secrets about the personal finance world that not many people talk about, but they're there. Let's take a look at them, some of which I am guilty of myself.

I have practically no formal training in personal finance. I went to college for computer science and mathematics, the closest thing I took to a business class was macroeconomics. I took a few random business courses in high-school, but they didn't amount to much. Much like the vast majority of the personal finance community, I learned everything I know about money outside of the classroom. My knowledge comes from the dozens of finance books I've read, the finance websites and magazines I read, and the finance talk shows I listen to on the radio.

I think some of the other personal finance bloggers are crazy. I have a very conservative viewpoint on money, and think leveraging is just a way to get your self in financial trouble. I could care less what my credit score is and don't worry about little opportunities to make a few pennies here and there through things such as arbitrage and rewards programs. I don't think that's really enough. A lot of people focus on ways to make a few bucks here and there, but in my own financial life, I've realized that the only way to build wealth is to live on a fraction (often as low as 25%) of my income and saving/invest the rest.

I'm obsessed with my site statistics. I currently run two different statistics counters about my website, and am very interested in how many people come to my website on a daily basis. It would be a strange day if I didn't check my SiteMeter statistics at least 5 times a day. Usually I check my Ad Sense revenue at least that much.

Some personal finance bloggers have major conflicts of interest. This is something that I do not do, however some bloggers will talk about a financial product or company and review them. At the end of their review, they will provide a link to the product they just reviewed, but instead of a regular link, it's a referral link. They have some sort of financial incentive for you to go to that site and sign up for the product, so the chances their reviews are unbiased are pretty slim.

I spend way too much time promoting my site. I submit every single article to I write to at least 5 different social book-marking sites, talk articles up amongst my friends, post on other people's blogs and then leave a link to mine at the bottom, submit them to all sorts of different directories and the like. I probably spend half as much time promoting my articles as I do writing them.

I have my own personal hate club on Fat Wallet. I recently wrote an article about why I could care less what my credit score is. I'm never going to borrow money, so I don't really need one. Of course a group of financial sophisticates on Fat Wallet who earn a few thousand each year from playing games with credit cards just couldn't that stand. So there was a 5 page thread that was created telling me I'm full of it. I wonder how many of these guys live on 25% of their income and save/invest the rest.

There are times I don't follow my own advice. I make a lot of illustrations about how cutting back a bit here and there will save big over the long period of time. I also decried drinking pop in a post entitled "Say no to Soda!" Yet I still drink at least 2 cans a day. There are some things in life that I can't bring my self to give up even though I know I should. Personal finance is all about behavior, and even sometimes my frugality does less than smart things.

robert shumake detroit

Social News Site Reddit Reports 200%+ Growth in 2010

Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...

Weirdest Finding of 2010? Balmain Hair Extensions – Fashionista ...

500 More Red-Winged Blackbirds Found Dead in Louisiana - AOL News

Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.

robert shumake detroit

What happens next? Let's again not kid ourselves, we have lost a great many seats in the House of Representatives and the House of Representatives isn't coming back into a Democratic majority in the near future. Simply because of the balance of exposures -- the larger numbers of Democratic Senators exposed to reelection in the next cycle, the greatest likelihood is that the Senate will also go Republican in two years time. President Obama has set his course. He has surrounded himself with the advisers of his choice and as he moves to replace President Summers we hear from the press that the priority is to "repair the rift with his investors on Wall Street." What does that tell you? It tells me that he does not have President Clinton's fighting and survival instincts. I've not heard one good reason all day to believe that we are going to see from this White House the fight that we want, that he could win in two years, or any reason we should be backing him now.

The Democratic Party has become too associated with Wall Street. This is a fact. It is a structural problem. It seems to me that we as progressives need -- this is my personal position -- we need to draw a line and decide that we would be better off with an under-funded, fighting progressive minority party than a party marked by obvious duplicity and constant losses on every policy front as a result of the reversals in our own leadership.

What should progressives do? He offers a list, including:

it seems to me that we as progressives need to make an honorable defense of the great legacies of the New Deal and Great Society -- programs and institutions that brought America out of the Great Depression and bought us through the Second World War, brought us to our period of greatest prosperity, and the greatest advances in social justice. Social Security, Medicare, housing finance -- the front-line right now is the foreclosure crisis, the crisis, I should say, of foreclosure fraud -- the progressive tax code, anti-poverty policy, public investment, public safety, and human and civil rights. We are going to lose these battles– get used to it. But we need to make an honorable fight, to state clearly what our principles are and to lay down a record which is trustworthy for the future. ... We are not going to get these things, but we should have a clearly defined program so that people know what they are.

We need to lose our fear, our hesitation, and our unwillingness to face the facts. If we thereby lose some of our hopes, let's remember the dictum of William of Orange that "it is not necessary to hope in order to persevere."

The president should know that, as Lincoln said to the Congress in the dark winter of 1862, he "cannot escape history." And we are heading now into a very dark time, so let's face it with eyes open. And if we must, let's seek leadership that shares our values, fights for our principles, and deserves our trust.

robert shumake