Oh, life on Wall Street…the glamour of it all.
I’m not joking, the mere stature of the architecture gives me a retro-Gilded Age contact high. As our guide pointed out on the Circle Line boat tour, the tall buildings built on narrow streets create the true ‘Gotham’, filled with canyons, the bottom of which sunlight doesn’t reach.
(In case you’re wondering, Superman’s “Metropolis” is Midtown, with the plain ole skyscrapers. In a vintage comic geek showdown, I choose Batman, hands down. And hello? The Sixties TV show with Adam West? Amazing. Hours of my childhood spent in front of those reruns. …Now if only I could find a partner to dress up with me as a hot Batman/Catwoman combo for Halloween I wouldn’t feel like those hours were quite such a waste. Though to critics who think that kids shouldn’t watch hours (and hours) of television a day- three words: Pop Culture education. Where else are you going to get it?)
Back to geeking out about architecture, not comics...
Many of the buildings on or around Wall Street were built in the 1930s for such venerable institutions as the The Trust Company of America, The Bank of Manhattan Trust and the City Bank Farmers Trust.
Bank, bank, bank, money, money, money…Oh those were the DAYS.
Not that the 1930s were known as a heyday of money but by the looks of the architecture you would think it was. High, gracious and delicate curves etched with gold coloring inside and out. Embellished but not gaudy. Streamlined.
Speaking of our own money grubbing days, does anyone else feel the pressure of the recession?
My jobless friends have found work, I’m no longer insecure about my job (because I made a conscious decision to change positions to something less sexy and more, how do we say, stable) and the stores were ever clogged this holiday season.
So, recession? Anyone?
Yes, I think we have a-ways to go to financial solvency (Solvent: able to pay all legal debts) but we’re getting closer. Maybe my company will even decide it’s not imprudent to give raises again. I mean, the Financial Industry is back giving bonuses.
Damn, that argument won't work.
Tuesday, December 29, 2009
Monday, December 28, 2009
Farm Economics
I write from my parents’ land in the country -- the Middle of Nowhere, TX-- where life is a little different.
To put my life New York life in perspective, out here, sixty acres is considered small for a family plot of land. I live in a 'spacious' 420 sq ft studio.
People here live purposefully, own possessions with purpose. Even the most necessary objects- like say, a car- better be able to pull their weight (SUVs focus on the Utility more than Sport) and the most important possession of all, land, has a definite purpose.
Ginormous plots aren’t a vanity like a large suburban lawn, they’re needed to grow hay or to allow cattle to graze. And by the standards of other Americans’, those in this community might appear to not have much, but they have what matters most- a commodity. (Commodity: An economic good, as a product of agriculture or mining. Something useful or valuable.)
Not to say I’m one for silly possessions (who has room for them with only 420 sq feet of living space?) but as far as these farmers are concerned, I’m surely a silly girl who spends an unimaginable amount on dinners, wine, Kettle & sodas and $8 beers as she lives the ’normal’ life of a young, employed Manhattanite.
And while I adore my petite apartment, I might feel a little asinine trying to prove that it’s good for anything beyond keeping me warm, housing my wardrobe and hosting dinner parties (the third point being most crucial).
What I find really amazing out here (other than the low price of a domestic long neck) is that they still barter. Meaning they trade possessions for objects of equal worth. Two of my parents’ surrounding neighbors traded pieces of land. Just completely exchanged ownership on massive chunks of acreage!
I wonder what would happen if I tried to barter for my Bliss Betweeny wax with my interior decorating know-how? Or attempt to exchange a Ted Gibson salon haircut for a homemade (and delicious) six-person meal of coq au vin?
The Magic 8 Ball would say, ‘Outlook not so good’ but I should really put some thought into this.
The closest I’ve come to a barter was offering my place as a pied-a-terre to Delaware friends as payment for the labor of painting my walls. But this was a childhood friend and her obliging husband. Until my cooking or one of my other –numerous- skills garner demand in the marketplace, I suppose I’ll remain a lowly consumer with nothing to offer than a Chase debit card.
Talents be damned, I have plastic.
To put my life New York life in perspective, out here, sixty acres is considered small for a family plot of land. I live in a 'spacious' 420 sq ft studio.
People here live purposefully, own possessions with purpose. Even the most necessary objects- like say, a car- better be able to pull their weight (SUVs focus on the Utility more than Sport) and the most important possession of all, land, has a definite purpose.
Ginormous plots aren’t a vanity like a large suburban lawn, they’re needed to grow hay or to allow cattle to graze. And by the standards of other Americans’, those in this community might appear to not have much, but they have what matters most- a commodity. (Commodity: An economic good, as a product of agriculture or mining. Something useful or valuable.)
Not to say I’m one for silly possessions (who has room for them with only 420 sq feet of living space?) but as far as these farmers are concerned, I’m surely a silly girl who spends an unimaginable amount on dinners, wine, Kettle & sodas and $8 beers as she lives the ’normal’ life of a young, employed Manhattanite.
And while I adore my petite apartment, I might feel a little asinine trying to prove that it’s good for anything beyond keeping me warm, housing my wardrobe and hosting dinner parties (the third point being most crucial).
What I find really amazing out here (other than the low price of a domestic long neck) is that they still barter. Meaning they trade possessions for objects of equal worth. Two of my parents’ surrounding neighbors traded pieces of land. Just completely exchanged ownership on massive chunks of acreage!
I wonder what would happen if I tried to barter for my Bliss Betweeny wax with my interior decorating know-how? Or attempt to exchange a Ted Gibson salon haircut for a homemade (and delicious) six-person meal of coq au vin?
The Magic 8 Ball would say, ‘Outlook not so good’ but I should really put some thought into this.
The closest I’ve come to a barter was offering my place as a pied-a-terre to Delaware friends as payment for the labor of painting my walls. But this was a childhood friend and her obliging husband. Until my cooking or one of my other –numerous- skills garner demand in the marketplace, I suppose I’ll remain a lowly consumer with nothing to offer than a Chase debit card.
Talents be damned, I have plastic.
Tuesday, September 29, 2009
Did I Really Think There Would Be More Summer Reading?
Ok, so what I was going to suggest as additional summer reading (for those languorous days in the Hamptons) oh, so long ago, when I still wrote on this thing called a blog, was a little ditty about the ups and downs of our good ole financial system.
Yes, you too can follow along as the author shares research and insights on the roller coaster that is the US economy in Panic Profits.
Though to be honest, it's a wee bit over my head. Or at least better suited to Wall Street aficionados or true economists (really nerdy ones at that) rather than little ole me, the wannabe. No matter how many times I've cracked the book, I get distracted just a few pages, and line graphs, in. I am more adept at following the ups and downs of the big personalities that created the US financial system in all their glory and gluttony, especially if there are glitzy side bars on illegitimate children and the like. So basically I stick with broad Vanity Fair retrospectives on the subject.
But Mary, why even bother sporadically cracking said text instead of relegating the spine to serve as a decorative piece to entice said nerdy economists? Well, the author is (was) my grandfather and I would feel quite high brow and pleased with myself if I were to truly comprehend it. Though as he's no longer with us, I won't expect a pop quiz any time soon and I can feel ever so high brow and pleased with myself because rather than just reading about it (and glazing over by the 4th line graph), I'm living in the midst of it all.
Yep, I traded the quirky, creative vibe of Nolita for the awe-inspiring, over the top grandeur of days past to presently reside on Wall Street.
The Stock exchange, Federal Hall and Trump Building are my closest neighbors who beckon absurdly stereotypical camera-toting tourists to mill on the cobble stoned streets, nearly bumping into fully automatic-toting NYPD while focusing their viewfinders on the glistening and gilded words, Tiffany & Co. or 14 Wall Street, perhaps failing to notice that 2009 Wall Street looks more like 1979 Belfast.
But those tourists, like the men in suits, boys in blue trading jackets, women in pantyhose and that big old flag, are all part of the scenery here on Wall, my new home sweet home.
And even with my illiteracy for economic literature, perhaps Poppa would still be proud.
Panic Profits: How to Make Money When the Market Takes a Dive by John Dennis Brown
Yes, you too can follow along as the author shares research and insights on the roller coaster that is the US economy in Panic Profits.
Though to be honest, it's a wee bit over my head. Or at least better suited to Wall Street aficionados or true economists (really nerdy ones at that) rather than little ole me, the wannabe. No matter how many times I've cracked the book, I get distracted just a few pages, and line graphs, in. I am more adept at following the ups and downs of the big personalities that created the US financial system in all their glory and gluttony, especially if there are glitzy side bars on illegitimate children and the like. So basically I stick with broad Vanity Fair retrospectives on the subject.
But Mary, why even bother sporadically cracking said text instead of relegating the spine to serve as a decorative piece to entice said nerdy economists? Well, the author is (was) my grandfather and I would feel quite high brow and pleased with myself if I were to truly comprehend it. Though as he's no longer with us, I won't expect a pop quiz any time soon and I can feel ever so high brow and pleased with myself because rather than just reading about it (and glazing over by the 4th line graph), I'm living in the midst of it all.
Yep, I traded the quirky, creative vibe of Nolita for the awe-inspiring, over the top grandeur of days past to presently reside on Wall Street.
The Stock exchange, Federal Hall and Trump Building are my closest neighbors who beckon absurdly stereotypical camera-toting tourists to mill on the cobble stoned streets, nearly bumping into fully automatic-toting NYPD while focusing their viewfinders on the glistening and gilded words, Tiffany & Co. or 14 Wall Street, perhaps failing to notice that 2009 Wall Street looks more like 1979 Belfast.
But those tourists, like the men in suits, boys in blue trading jackets, women in pantyhose and that big old flag, are all part of the scenery here on Wall, my new home sweet home.
And even with my illiteracy for economic literature, perhaps Poppa would still be proud.
Panic Profits: How to Make Money When the Market Takes a Dive by John Dennis Brown
Sunday, July 19, 2009
Summer Reading
I’ve been a little light on the blogging over the past couple of weeks but it’s summer, lovelies! Everyone should be out and about on wonderful holidays. I haven’t been jaunting too much since gay Paree but that suits me just fine. I’m enjoying NYC in all its sticky, humid grandeur.
So while the rest of you are lounging by the water in St. John, the Cape or your kiddie pool, here are a couple summer reading suggestions for you….
1. The Blue Sweater by Jacqueline Novogratz
Perhaps a little heady for the summer months but this amateur economist likes it that way.
In the 1980s Novogratz set out as a young, idealistic girl with a head for figures to Africa where she worked within local communities and with prestigious organizations to develop some of the earliest microfinance programs. Her very plain spoken yet compelling tale spans decades and continents, having worked in Rwanda, Kenya, India and Pakistan, lending a personal perspective of some of the most dire events in modern history. (I was brought to heavy tears by her description of the Rwandan genocide. You should have seen me in Hotel Rwanda, a complete, bawling mess).
Dedicating her life to marrying financial know-how with a charitable spirit, readers begin to understand how positive change is possible from even the bleakest socio-political and socio-economic beginnings.
And as it relates to this blog, as it relates to me, me, me, I cherished her story because it reminded this New Yorker how so many across the world survive, subsist and flourish with so little. How on an income of a dollar or less a day, determined workers were able to make personal and social change with just a bit of entrepreneurial spirit. While ‘entrepreneurial spirit’ still reminds me of the Silicon Valley heyday, I realize that it is little more than the desire to do something in a better way when an avenue to do so doesn’t immediately present itself.
I live in a city that is at its core a testament to the entrepreneurial spirit (BTW: currently reading Island at the Center of the World) though I can easily forget the determination and ingenuity of the Dutch, English, Irish, Italian, Chinese, Jews, Poles and every other punchline-ready immigrant group who came here to make a better life when I walk on my fashionable street and agonize how I’m going to make my corporate salary stretch to include every haute meal I have in my social calendar.
Thankfully I haven’t fully succumbed to consumerism but the desire for More and Better can be as thick as the humidity, even among those with oh so much. (cough…Wall Street meltdown… cough…)
As much as I would like to justify an Indian getaway, a trip around the world isn’t required to view the world differently. From Novogratz’s experience even here in New York, it goes to show that we can recalibrate our perceived level of Need if we begin by viewing the city through the eyes of those with very little, as opposed to very much. And for those who care to help, the gap between the haves and have nots might diminish all the more quickly if we start by opening our eyes without fear of opening our hearts.
Stay tuned for your next assignment....
So while the rest of you are lounging by the water in St. John, the Cape or your kiddie pool, here are a couple summer reading suggestions for you….
1. The Blue Sweater by Jacqueline Novogratz
Perhaps a little heady for the summer months but this amateur economist likes it that way.
In the 1980s Novogratz set out as a young, idealistic girl with a head for figures to Africa where she worked within local communities and with prestigious organizations to develop some of the earliest microfinance programs. Her very plain spoken yet compelling tale spans decades and continents, having worked in Rwanda, Kenya, India and Pakistan, lending a personal perspective of some of the most dire events in modern history. (I was brought to heavy tears by her description of the Rwandan genocide. You should have seen me in Hotel Rwanda, a complete, bawling mess).
Dedicating her life to marrying financial know-how with a charitable spirit, readers begin to understand how positive change is possible from even the bleakest socio-political and socio-economic beginnings.
And as it relates to this blog, as it relates to me, me, me, I cherished her story because it reminded this New Yorker how so many across the world survive, subsist and flourish with so little. How on an income of a dollar or less a day, determined workers were able to make personal and social change with just a bit of entrepreneurial spirit. While ‘entrepreneurial spirit’ still reminds me of the Silicon Valley heyday, I realize that it is little more than the desire to do something in a better way when an avenue to do so doesn’t immediately present itself.
I live in a city that is at its core a testament to the entrepreneurial spirit (BTW: currently reading Island at the Center of the World) though I can easily forget the determination and ingenuity of the Dutch, English, Irish, Italian, Chinese, Jews, Poles and every other punchline-ready immigrant group who came here to make a better life when I walk on my fashionable street and agonize how I’m going to make my corporate salary stretch to include every haute meal I have in my social calendar.
Thankfully I haven’t fully succumbed to consumerism but the desire for More and Better can be as thick as the humidity, even among those with oh so much. (cough…Wall Street meltdown… cough…)
As much as I would like to justify an Indian getaway, a trip around the world isn’t required to view the world differently. From Novogratz’s experience even here in New York, it goes to show that we can recalibrate our perceived level of Need if we begin by viewing the city through the eyes of those with very little, as opposed to very much. And for those who care to help, the gap between the haves and have nots might diminish all the more quickly if we start by opening our eyes without fear of opening our hearts.
Stay tuned for your next assignment....
Wednesday, June 10, 2009
I lost my budget virginity in Paris
In May I did something for only the 2nd time, go to Paris.
And for the very first time, I budgeted for travel
(sacré bleu!)
Yes, yes, our little girl is growing up…
Turns out it’s quite simple, really.
Here’s how it goes:
1. Have money.
You can’t imagine how many times I’ve skipped this step. I have the distinct memory of being twenty-four, unemployed and traipsing to summer weddings and weekend jaunts, all involving air travel and hotel stays. It was the economic sage Mike Cunningham (my father) who aptly, if not strictly, advised- STOP TRAVELING, MARY.
Hhhmmmmm, that hadn’t occurred to me.
Interesting concept, but lack of funds wasn’t a convincing argument. “ …But why, Dad? I can pay for it, I have a credit card.”
Oh, my youth.
*For the record I don’t regret any of the travel.
Ok, back to being a fiscally responsible traveler…
2. Decide how much you will spend while on the trip. Realistically. This, boys and girls, is called creating a "budget." Even busing down on a weekend trip to Delaware I can manage to grossly under estimate this. Simply because I don’t want to think about the amount I spend in an average weekend, much less on a weekend getaway.
3. Prepare yourself- Convert that amount into local currency before you travel.
When faced with a foreign ATM, I tend favor my internal conversion table which is reminiscent of the outdated Franc/Dollar exchange. Turns out the Foreign Exchange market thinks differently. There are just certain things that I would rather forget and the Dollar’s weakness to the Euro is one of them.
4. Withdraw that amount. Withdraw slightly less than that amount.
And try this- JUST spend that cash. Oh la la.
I mean really, unless you find an amazing gem at a gallery or boutique that you absolutely must have, chances are you’re better off by sticking to a budget.
Speaking of conversion rates, the mirrors seem to change as well when you return stateside. "How did I not notice this muffin top when I was in the boutique? Damn you, post-lunch wine buzz!"
With budget guidelines in mind, it doesn’t mean I wasn’t swayed by the allure of French boutiques. And why should I not?! This is Paris after all and I am a female. It’s a woman’s given right to indulge when in the City of Light: in beef tartare, in Bandol, in truffles and in shopping. (Definitely not the world’s worst To Do list).
But remember ladies- France’s premiere exports don’t become less expensive just because you buy them local. Honestly, if local produce isn’t less expensive at the farmer’s market, you can bet that Louis Vuitton and Chanel aren’t either. So no, I’ll pass on the ultra chic global brands in favor of seeking out those truly unique fashions that maintain international flair amid the globalization of fashion that has brought Sweden's H&Ms, Spain’s Zaras and Britain's Top Shops to hometowns around the world.
There was one little dress that was just simply Oh la la and for which I would have jilted this budget-thing but alas, I couldn’t negotiate the correct undergarments. Note: brassieres and satin don’t always go together. And yet no bra and satin is, um, precarious, to say the least.
So our little girl left a budgetary woman even though she did want to give it up just a bit.
And for the very first time, I budgeted for travel
(sacré bleu!)
Yes, yes, our little girl is growing up…
Turns out it’s quite simple, really.
Here’s how it goes:
1. Have money.
You can’t imagine how many times I’ve skipped this step. I have the distinct memory of being twenty-four, unemployed and traipsing to summer weddings and weekend jaunts, all involving air travel and hotel stays. It was the economic sage Mike Cunningham (my father) who aptly, if not strictly, advised- STOP TRAVELING, MARY.
Hhhmmmmm, that hadn’t occurred to me.
Interesting concept, but lack of funds wasn’t a convincing argument. “ …But why, Dad? I can pay for it, I have a credit card.”
Oh, my youth.
*For the record I don’t regret any of the travel.
Ok, back to being a fiscally responsible traveler…
2. Decide how much you will spend while on the trip. Realistically. This, boys and girls, is called creating a "budget." Even busing down on a weekend trip to Delaware I can manage to grossly under estimate this. Simply because I don’t want to think about the amount I spend in an average weekend, much less on a weekend getaway.
3. Prepare yourself- Convert that amount into local currency before you travel.
When faced with a foreign ATM, I tend favor my internal conversion table which is reminiscent of the outdated Franc/Dollar exchange. Turns out the Foreign Exchange market thinks differently. There are just certain things that I would rather forget and the Dollar’s weakness to the Euro is one of them.
4. Withdraw that amount. Withdraw slightly less than that amount.
And try this- JUST spend that cash. Oh la la.
I mean really, unless you find an amazing gem at a gallery or boutique that you absolutely must have, chances are you’re better off by sticking to a budget.
Speaking of conversion rates, the mirrors seem to change as well when you return stateside. "How did I not notice this muffin top when I was in the boutique? Damn you, post-lunch wine buzz!"
With budget guidelines in mind, it doesn’t mean I wasn’t swayed by the allure of French boutiques. And why should I not?! This is Paris after all and I am a female. It’s a woman’s given right to indulge when in the City of Light: in beef tartare, in Bandol, in truffles and in shopping. (Definitely not the world’s worst To Do list).
But remember ladies- France’s premiere exports don’t become less expensive just because you buy them local. Honestly, if local produce isn’t less expensive at the farmer’s market, you can bet that Louis Vuitton and Chanel aren’t either. So no, I’ll pass on the ultra chic global brands in favor of seeking out those truly unique fashions that maintain international flair amid the globalization of fashion that has brought Sweden's H&Ms, Spain’s Zaras and Britain's Top Shops to hometowns around the world.
There was one little dress that was just simply Oh la la and for which I would have jilted this budget-thing but alas, I couldn’t negotiate the correct undergarments. Note: brassieres and satin don’t always go together. And yet no bra and satin is, um, precarious, to say the least.
So our little girl left a budgetary woman even though she did want to give it up just a bit.
Thursday, June 4, 2009
And by Passe I Mean...
Passe as in pixie haircuts, cosmopolitans, cropped tiny tees and the light blue/chocolate brown color palette. All simply fabulous for a moment in time or for those who can really pull it off, but not meant for mass consumption.
Monday, May 25, 2009
Tuesday, May 5, 2009
Ups and Downs
My research* indicates the following as the eight stages of the emotional roller coaster known as PFU (Personal Financial Upheaval):
*Yes, "research" is my fancy term for talking with unemployed friends and seeing 401Ks offer themselves up as sacrificial lambs
1. Panic!
#@^&^^!, What will I do?!
2. Bargaining.
If I could just get that job back or my 401K share prices to inflate, I’d never complain of my company, of my salary, again. Ever.
3. Fear.
How will I sustain my lifestyle and livelihood?
4. Brief Depression.
I have no idea how to sustain my lifestyle and there is nothing lively in my hood.
5. Reflective Melancholy. Yearning for the good old days.
I remember when I could buy a round of drinks. Now I can’t buy a round of toilet paper.
6. Reassessment of Goals, Hopes and Dreams.
What was I really working for?
7. Creative Brainstorming. New paths to Goals, Hopes and Dreams.
What will really make me happy?
8. Realization.
That perhaps the old means weren’t really getting us to the ultimate end.
*Yes, "research" is my fancy term for talking with unemployed friends and seeing 401Ks offer themselves up as sacrificial lambs
1. Panic!
#@^&^^!, What will I do?!
2. Bargaining.
If I could just get that job back or my 401K share prices to inflate, I’d never complain of my company, of my salary, again. Ever.
3. Fear.
How will I sustain my lifestyle and livelihood?
4. Brief Depression.
I have no idea how to sustain my lifestyle and there is nothing lively in my hood.
5. Reflective Melancholy. Yearning for the good old days.
I remember when I could buy a round of drinks. Now I can’t buy a round of toilet paper.
6. Reassessment of Goals, Hopes and Dreams.
What was I really working for?
7. Creative Brainstorming. New paths to Goals, Hopes and Dreams.
What will really make me happy?
8. Realization.
That perhaps the old means weren’t really getting us to the ultimate end.
Monday, May 4, 2009
Ant Farm
Just over a week ago, we New Yorkers welcomed eighty-degree weather after a very long, cold winter.
As both green, leafy shoots and mini-shirt hemlines move upward, other movement was on the rise as well.
Gazing on the brick wall of my patio (clearly procrastinaing), I saw movement everywhere.
Ants, ants, ants- out and about- using the mortar between bricks as their thoroughfare, just as congested as the cabs on the city street beyond this wall.
Like the weekend sunbathers of Central Park, these leeeetle workers were savoring the warmth as well.
Well, sorta.
Ants don’t really ‘savor.’ Ants work. The benefit of warmth for an ant is the ability to hunt and gather far and wide, finally freed from their protective, tunneled colonies. And in true ant form, the little ones on my wall are are doing what they always do, working industriously to prepare for the hard times, even though the good times have just begun.
It’s safe to assume that unlike most of those New York sunbathers (and most Americans in general), these ants fared a little better during this past winter of our discontent.
Darn if those ants know how to plan ahead.
Thinking back to the fable of The Ant and the Grasshopper, the ant ultimately (spoilder alert!) shakes one of his wee six legs at the foolish violin-wielding grasshopper who chose to frolic all summer rather than plan ahead. Sir Ant promptly turns Mr. GH out to, well, die.
It’s less cut and dried in the children’s version, but we might as well be honest with our kids: save up or you will die. …In the cold. …With only your violin.
(In this new age of financial distress, “Save or Die” has a fresh, honest ring to it…I dare any of the financial companies to use that as a new slogan. Time to rebrand, guys!)
How many of us have become complacent in relying on the crutch of a credit card or a bonus to come to the rescue for basic needs (tuition, rent, groceries)? How many are seeing mounting expenses and decreasing income? How many financial firms came to the government with arms outstretched, palms up for bailout money after their frolic ended badly?
In the post-October 2008 world of, well, May 2009, the ant is more of a sage than a curmudgeon. His laser-focused dedication to view a Fourth of July potato chip crumb as a mid January nosh is likely hard to achieve for us mere humans, but I hope that the fable will enjoy a renaissance with consumers young and old, inspiring some to again pinch pennies, inching them to the safer end of the the Ant – Grasshopper Spectruum of Financial (In)Competence.
My financial genetic makeup leaves me in the middle of the spectruum (because my dad is on one end, my mother on the other).
I can't seem to keep the blinders of the ant on permanently- my eyes and wallet wonder from time to time- but thankfully I’ve instituted saving techniques that hide money away, allowing for a little budgetary capriousnes without fear that I’ll end up with only a violin.
As both green, leafy shoots and mini-shirt hemlines move upward, other movement was on the rise as well.
Gazing on the brick wall of my patio (clearly procrastinaing), I saw movement everywhere.
Ants, ants, ants- out and about- using the mortar between bricks as their thoroughfare, just as congested as the cabs on the city street beyond this wall.
Like the weekend sunbathers of Central Park, these leeeetle workers were savoring the warmth as well.
Well, sorta.
Ants don’t really ‘savor.’ Ants work. The benefit of warmth for an ant is the ability to hunt and gather far and wide, finally freed from their protective, tunneled colonies. And in true ant form, the little ones on my wall are are doing what they always do, working industriously to prepare for the hard times, even though the good times have just begun.
It’s safe to assume that unlike most of those New York sunbathers (and most Americans in general), these ants fared a little better during this past winter of our discontent.
Darn if those ants know how to plan ahead.
Thinking back to the fable of The Ant and the Grasshopper, the ant ultimately (spoilder alert!) shakes one of his wee six legs at the foolish violin-wielding grasshopper who chose to frolic all summer rather than plan ahead. Sir Ant promptly turns Mr. GH out to, well, die.
It’s less cut and dried in the children’s version, but we might as well be honest with our kids: save up or you will die. …In the cold. …With only your violin.
(In this new age of financial distress, “Save or Die” has a fresh, honest ring to it…I dare any of the financial companies to use that as a new slogan. Time to rebrand, guys!)
How many of us have become complacent in relying on the crutch of a credit card or a bonus to come to the rescue for basic needs (tuition, rent, groceries)? How many are seeing mounting expenses and decreasing income? How many financial firms came to the government with arms outstretched, palms up for bailout money after their frolic ended badly?
In the post-October 2008 world of, well, May 2009, the ant is more of a sage than a curmudgeon. His laser-focused dedication to view a Fourth of July potato chip crumb as a mid January nosh is likely hard to achieve for us mere humans, but I hope that the fable will enjoy a renaissance with consumers young and old, inspiring some to again pinch pennies, inching them to the safer end of the the Ant – Grasshopper Spectruum of Financial (In)Competence.
My financial genetic makeup leaves me in the middle of the spectruum (because my dad is on one end, my mother on the other).
I can't seem to keep the blinders of the ant on permanently- my eyes and wallet wonder from time to time- but thankfully I’ve instituted saving techniques that hide money away, allowing for a little budgetary capriousnes without fear that I’ll end up with only a violin.
Saturday, April 11, 2009
Spring in the City
As you can see by the date of this post, it’s been some weeks (years in Blogger time) since I’ve written. Not for lack of financial headlines begging for my commentary, but rather a hunch that “these hard times” might strike down upon me personally, giving me laser focus on basic survival and putting aside any activity not absolutely tied to maintaining gainful employment.
It doesn’t take a formal company announcement for one to fear for their security and whatever my reasons, the month of March brought on that fear like the proverbial lion whose turbulent roar disprupts the quiet of winter and foretells of changes this new season will bring.
And with that panic came a cincture, a stranglehold put upon any alleged creative juices that I like to think flow within me from time to time. (With that in mind, this post is indication that for the brief near future, the chopping block is out of sight).
Fearing the loss of income, coupled with a snafu in living arrangements leaving me without a roommate- and someone to split the rent- a month of nights were spent assembling mental to do lists and not in any sort of midnight repose.
But in those solitary hours, I was not alone.
As little comfort as it brings, many others were in on the late night number crunching with me. Not just those who bear the corporate flourescence in their cubicles, praying for not another re-org, but outside, along the once casual backdrop of a walking commute, storefronts with shelves full yet barren aisles cry out in pangs of a supply and demand equation gone wrong.
Walking on the small, quaint street in Manhattan that I like to call mine, store front after the next display signs, For Rent. At least a dozen within 2 blocks of my front step alone.
How can the recession of the economy not be a depression on our collective psyche when we must daily pass remnants of the good old days- boutiques and restaurants, now called ‘failures’- that perhaps didn’t have a solid business plan then and who serve now only as economic case studies, revealing how free money was when credit was in play?
Continuing on to the west side of the island for a brisk walk on a brisk spring evening, I proceed up the Hudson River, passing half a dozen tall glass buildings that break up the old and the brick and the industrial that had been Manhattan’s ragged western edge in years past. I remember seeing these buildings, townhomes and offices spaces, shrouded in scaffolding only some months ago when I was new to the island and my large eyes took in an even larger cityscape.
Walking along now, in the spring of 2009, I wonder if the everyman- the working folk of this big little town- gaze up at those now-completed and empty compartments to sneer at those who had the balls to continue building more and bigger, sneering at the banks who dared to take more and bigger risks, and all the rest who knew better but pushed for more, believing it was within their rights to do so. These opulent edifices, gauche even in a town known for opulence in all things, look now to be as bloated and fragile as the economy that deemed them appropriate.
Or maybe it’s the other way around.
Maybe these sleek, slender structures can stand tall and cast mocking glances down upon a society whose hubris believed we were worthy of such grandeur. A national collective who thought we could sustain such grandeur.
In either sense, after the fall in the fall of ‘08, we are left with emotional rubble and physical splendor and no map to show us where the middle ground is.
Question is, will we recognize a middle ground even if we find it?
It doesn’t take a formal company announcement for one to fear for their security and whatever my reasons, the month of March brought on that fear like the proverbial lion whose turbulent roar disprupts the quiet of winter and foretells of changes this new season will bring.
And with that panic came a cincture, a stranglehold put upon any alleged creative juices that I like to think flow within me from time to time. (With that in mind, this post is indication that for the brief near future, the chopping block is out of sight).
Fearing the loss of income, coupled with a snafu in living arrangements leaving me without a roommate- and someone to split the rent- a month of nights were spent assembling mental to do lists and not in any sort of midnight repose.
But in those solitary hours, I was not alone.
As little comfort as it brings, many others were in on the late night number crunching with me. Not just those who bear the corporate flourescence in their cubicles, praying for not another re-org, but outside, along the once casual backdrop of a walking commute, storefronts with shelves full yet barren aisles cry out in pangs of a supply and demand equation gone wrong.
Walking on the small, quaint street in Manhattan that I like to call mine, store front after the next display signs, For Rent. At least a dozen within 2 blocks of my front step alone.
How can the recession of the economy not be a depression on our collective psyche when we must daily pass remnants of the good old days- boutiques and restaurants, now called ‘failures’- that perhaps didn’t have a solid business plan then and who serve now only as economic case studies, revealing how free money was when credit was in play?
Continuing on to the west side of the island for a brisk walk on a brisk spring evening, I proceed up the Hudson River, passing half a dozen tall glass buildings that break up the old and the brick and the industrial that had been Manhattan’s ragged western edge in years past. I remember seeing these buildings, townhomes and offices spaces, shrouded in scaffolding only some months ago when I was new to the island and my large eyes took in an even larger cityscape.
Walking along now, in the spring of 2009, I wonder if the everyman- the working folk of this big little town- gaze up at those now-completed and empty compartments to sneer at those who had the balls to continue building more and bigger, sneering at the banks who dared to take more and bigger risks, and all the rest who knew better but pushed for more, believing it was within their rights to do so. These opulent edifices, gauche even in a town known for opulence in all things, look now to be as bloated and fragile as the economy that deemed them appropriate.
Or maybe it’s the other way around.
Maybe these sleek, slender structures can stand tall and cast mocking glances down upon a society whose hubris believed we were worthy of such grandeur. A national collective who thought we could sustain such grandeur.
In either sense, after the fall in the fall of ‘08, we are left with emotional rubble and physical splendor and no map to show us where the middle ground is.
Question is, will we recognize a middle ground even if we find it?
Thursday, March 5, 2009
Attention Kmart Shoppers
President Obama echoed the sentiment of my most recent blog post this Tuesday when he said, "What you're now seeing is profit and earning ratios starting to get to the point where buying stocks is a potentially good deal," he said, "if you've got a long-term perspective on it."
As it's not usually the place of the president to speak on such specific matters, the White House press secretary hastened to clarify that we shouldn't "overly read into" the statement.
Yes, certainly we should exercise caution- making informed decisions for our own individual portfolios and not acting blindly on any one person's assertions or observations.
But you don't need to be an economic scholar to know a fire sale when you see one.
As it's not usually the place of the president to speak on such specific matters, the White House press secretary hastened to clarify that we shouldn't "overly read into" the statement.
Yes, certainly we should exercise caution- making informed decisions for our own individual portfolios and not acting blindly on any one person's assertions or observations.
But you don't need to be an economic scholar to know a fire sale when you see one.
Saturday, February 21, 2009
401 OK
I just went agro on my 401k.
According to The Washington Post, "The Dow...closed Friday at 7365.67, down 6.2 percent for the week. On Thursday, it fell below the previous bear-market low reached Nov. 20 to hit its lowest level in six years. On Friday, it plunged further as investors worried that banks would be nationalized."
I pounced on that like a cougar on a deer. Or like a cougar on a 22-year-old boy. Depends on which cougar you're more familiar with.
I started this job and this 401K almost a year ago. At the time, moving to a new city, starting a new job had me focused on movers and Bed Bath and Beyond more than honing in on the perfect investment strategy for something that wouldn't be accessible for 30 years. I also wasn't allocating a significant percentage to be taken directly from my paycheck in pre-tax dollars.
Silly girl, I know.
But in my defense, I needed cash in hand to pay for the months and months of moving-in and getting-settled costs... I was NOT using my credit card.
By January, with the holiday shopping over (no credit cards there either...Suze Orman would be so proud), it was time to tighten the purse strings and ramp up the 401K. Just an easy call to Fidelity and I more than doubled the amount going straight into my retirement account.
But I was still hemming and hawing about my allocation. I have a pretty boring mix of half stocks with an almost equal amount of bonds and cash.
Yawn.
I couldn't help but feel that I was missing an opportunity.
With retirement far off, I want to be aggressive and reallocate my mix so that I have more in stocks- now bought on the cheap- which will , with some time, eventually come back up in value.
The thing that scares novice investors about stocks is that the highs are higher but the lows are lower, in their returns. But for someone with 30 years until retirement, I can withstand the fluctuations and as I get older, I'll take profits from the stocks and buy more conservative bonds and cash options (which is what insulates one from losing so much in the event of another raping of the stock market).
You may have heard that 401Ks have been raked over the coals, but younger people can use this time to stock up on stocks. They're cheap.
Pounce.
I'm not taking this money out until I'm 60, so if the stocks continue to fall over the next 6 to 12 to 18 months, I'll just hold on to them until they come back up. Time is our asset.
I must say that while rationally, I feel savvy, in my gut I feel vaguely like a land speculator after Katrina. Stocks and bonds shouldn't be emotional but when so many have lost so much- jobs, investments- making lemonade from the souring fruit of Wall Street feels opportunistic.
Though this is no time to freeze up and lick our wounds.
Beyond my measly 401K, there will be good to come out of this time.
New ideas are being born. Even if actions are delayed due to frozen credit or the need for workers to hold tight to a current job for security, the creative juices of bright minds are flowing even more forcefully now- dreaming and scheming of the new world order that can and should be once we emerge from this black cloud.
And it is those individuals, those with drive, smarts and ambition, who will lead the way out.
According to The Washington Post, "The Dow...closed Friday at 7365.67, down 6.2 percent for the week. On Thursday, it fell below the previous bear-market low reached Nov. 20 to hit its lowest level in six years. On Friday, it plunged further as investors worried that banks would be nationalized."
I pounced on that like a cougar on a deer. Or like a cougar on a 22-year-old boy. Depends on which cougar you're more familiar with.
I started this job and this 401K almost a year ago. At the time, moving to a new city, starting a new job had me focused on movers and Bed Bath and Beyond more than honing in on the perfect investment strategy for something that wouldn't be accessible for 30 years. I also wasn't allocating a significant percentage to be taken directly from my paycheck in pre-tax dollars.
Silly girl, I know.
But in my defense, I needed cash in hand to pay for the months and months of moving-in and getting-settled costs... I was NOT using my credit card.
By January, with the holiday shopping over (no credit cards there either...Suze Orman would be so proud), it was time to tighten the purse strings and ramp up the 401K. Just an easy call to Fidelity and I more than doubled the amount going straight into my retirement account.
But I was still hemming and hawing about my allocation. I have a pretty boring mix of half stocks with an almost equal amount of bonds and cash.
Yawn.
I couldn't help but feel that I was missing an opportunity.
With retirement far off, I want to be aggressive and reallocate my mix so that I have more in stocks- now bought on the cheap- which will , with some time, eventually come back up in value.
The thing that scares novice investors about stocks is that the highs are higher but the lows are lower, in their returns. But for someone with 30 years until retirement, I can withstand the fluctuations and as I get older, I'll take profits from the stocks and buy more conservative bonds and cash options (which is what insulates one from losing so much in the event of another raping of the stock market).
You may have heard that 401Ks have been raked over the coals, but younger people can use this time to stock up on stocks. They're cheap.
Pounce.
I'm not taking this money out until I'm 60, so if the stocks continue to fall over the next 6 to 12 to 18 months, I'll just hold on to them until they come back up. Time is our asset.
I must say that while rationally, I feel savvy, in my gut I feel vaguely like a land speculator after Katrina. Stocks and bonds shouldn't be emotional but when so many have lost so much- jobs, investments- making lemonade from the souring fruit of Wall Street feels opportunistic.
Though this is no time to freeze up and lick our wounds.
Beyond my measly 401K, there will be good to come out of this time.
New ideas are being born. Even if actions are delayed due to frozen credit or the need for workers to hold tight to a current job for security, the creative juices of bright minds are flowing even more forcefully now- dreaming and scheming of the new world order that can and should be once we emerge from this black cloud.
And it is those individuals, those with drive, smarts and ambition, who will lead the way out.
Saturday, January 24, 2009
Sunday, January 11, 2009
Fill in the Blanks
It occurs to me that the practice of Saving Money is like the practice of Tantric Sex.
To test this theory, I've taken an informative article on trantra and retro-fit it with more pecuniary terms. A fiscal Mad Libs, if you will....
From Discovery Health
"Tantric Sex Techniques to Reinvigorate Lovemaking"
By Amy Painter
As interpreted for the Economisery audience by Miss Mary Joan
Have you ever experienced a moment of sexual (financial) ecstasy? How did it make you feel?
Exhilarated? Luminous?
Intense sexual (financial) experiences are (can and should be) one of our greatest sources of pleasure.
At the same time, sex is (personal finances are) often regarded with an equal measure of fear and fascination. We may crave sexual intimacy (fiscal competency) to the core of our being, yet also take great pains to avoid it. We may long to rekindle lost passion (for our savings accounts), but have forgotten how to light the fire.
The practice of Tantra (Saving) shows us how to reclaim the sexual intimacy (financial security) that is (sadly not) our birthright. And through this most ancient of arts, we may discover new joys of the erotic (fiscal) and expand mere moments of sexual ecstasy (penny pinching) into a lifetime of sexual (monetary) bliss.
In this model, the sexual (saving) experience is seen as a dance with no beginning or end. Tantra (Saving) teaches lovers (everyone, from 80-yr-olds to elementary school children) how to extend the peak of their sexual ecstasy (paycheck, allowance or social security) so that women and men can experience multiple orgasms (double-digit interest gains) in a single sexual encounter (with even just one well-purchased stock).
Beginning Tantric Sex (Savings) Techniques
The following exercises will help you reconnect with your body (spending habits) and with your partner (financial profile) in a profound way. As you move through these steps, do not focus on intercourse (spending) as the ultimate goal. Instead, simply enjoy giving and receiving pleasure using gentle touch and loving words. (Instead, simply enjoy building a nest egg using automatic withdrawals from your paycheck and accruing interest).
Try to spend several weeks practicing the Tantric Intimacy (Automatic Saving) Exercises without necessarily engaging in intercourse (spending). For many, experiencing these exercises with no pressure to "go all the way" helps release sexual guilt (financial burden), builds trust (within you) and reawakens sexual desire (financial prowess). Enjoy!
Tantric Sex (Saving) — Welcoming Love (Peace of Mind)
Set aside an hour or more of uninterrupted time to be together (with your bank statements). Although it may be difficult to find the time or to manage children, you won't be able to benefit from Tantra (Saving) if this is not a priority.
Create an inviting atmosphere. Whether you meet in your bedroom, living room or another space in your house, creating a sacred space for each other (for financial records) will help relax you and bring you into the moment. Candles (a calculator), fresh flowers (a computer), erotic art (Quicken software), finger foods (yes, why not finger foods?) and tantalizing aromas can transform any room into a temple of sexual (pecuniary) delight.
Tantric (Fiscal) Intimacy Exercises
Use ritual to develop intimacy (stability). Begin your journey with a ritual. This may be something as simple as sharing a glass of wine in the nude (as simple as checking your bank balance everyday). Some couples enjoy bathing together in order to attune to each other (that may not be a financial recommendation, but getting all sudsy might brighten one’s outlook on the economy, debt and life in general. Pass the loofah, please!)
As you experiment with Tantric (Saving) techniques, don't worry whether you are doing something the "right" way. Tantra (Saving) does not judge right or wrong, good or bad. Ultimately, your pleasure is what matters most. (Ultimately, spending less than you earn is what matters most).
Keep it slow.
Bring your attention to your breath. Resist the urge to breathe (spend) quickly. Quick breathing (spending) creates arousal, speeding you toward orgasm (debt). Instead, take long, slow breaths (withdrawals) from the belly (checking account), exhaling (spending) gradually. (And only when necessary).
Vary your positions (investment types) to explore your (portfolio's) duality. Different sex positions (stock options) add to sexual (investment) pleasure and balance male and female energies.
Relax.
…From there the author goes on to describe in detail the breaths and the muscles and the slowing and the undulations. All good stuff, but I’ll leave you to research her directions if I’ve piqued your interest in Tantra.
More so I hope that I’ve pique your interest in Saving and the realization that the joy of the quick spend is a momentary rush- robbing your bank account of a healthy base for interest to grow and robbing you of an emergency stash of cash.
(Here’s where I start to sound like a Southern minister)
Delay the mild gratification of a torrid incident with a credit card and opt instead for the will to say no, to put yourself on a budget and to know that you can be in control of your finances. (Yes, you can!)
Contrary to American culture, remember that not everything must be purchased, consumed or acquired at the moment we want it.
I don’t suggest stalling purchases forever, but, like Tantra, learn to slow down, gain focus and harness calm to make even the smallest, yet decisive, fiscal actions yield pleasure- or better- return on investment.
Namaste.
To test this theory, I've taken an informative article on trantra and retro-fit it with more pecuniary terms. A fiscal Mad Libs, if you will....
From Discovery Health
"Tantric Sex Techniques to Reinvigorate Lovemaking"
By Amy Painter
As interpreted for the Economisery audience by Miss Mary Joan
Have you ever experienced a moment of sexual (financial) ecstasy? How did it make you feel?
Exhilarated? Luminous?
Intense sexual (financial) experiences are (can and should be) one of our greatest sources of pleasure.
At the same time, sex is (personal finances are) often regarded with an equal measure of fear and fascination. We may crave sexual intimacy (fiscal competency) to the core of our being, yet also take great pains to avoid it. We may long to rekindle lost passion (for our savings accounts), but have forgotten how to light the fire.
The practice of Tantra (Saving) shows us how to reclaim the sexual intimacy (financial security) that is (sadly not) our birthright. And through this most ancient of arts, we may discover new joys of the erotic (fiscal) and expand mere moments of sexual ecstasy (penny pinching) into a lifetime of sexual (monetary) bliss.
In this model, the sexual (saving) experience is seen as a dance with no beginning or end. Tantra (Saving) teaches lovers (everyone, from 80-yr-olds to elementary school children) how to extend the peak of their sexual ecstasy (paycheck, allowance or social security) so that women and men can experience multiple orgasms (double-digit interest gains) in a single sexual encounter (with even just one well-purchased stock).
Beginning Tantric Sex (Savings) Techniques
The following exercises will help you reconnect with your body (spending habits) and with your partner (financial profile) in a profound way. As you move through these steps, do not focus on intercourse (spending) as the ultimate goal. Instead, simply enjoy giving and receiving pleasure using gentle touch and loving words. (Instead, simply enjoy building a nest egg using automatic withdrawals from your paycheck and accruing interest).
Try to spend several weeks practicing the Tantric Intimacy (Automatic Saving) Exercises without necessarily engaging in intercourse (spending). For many, experiencing these exercises with no pressure to "go all the way" helps release sexual guilt (financial burden), builds trust (within you) and reawakens sexual desire (financial prowess). Enjoy!
Tantric Sex (Saving) — Welcoming Love (Peace of Mind)
Set aside an hour or more of uninterrupted time to be together (with your bank statements). Although it may be difficult to find the time or to manage children, you won't be able to benefit from Tantra (Saving) if this is not a priority.
Create an inviting atmosphere. Whether you meet in your bedroom, living room or another space in your house, creating a sacred space for each other (for financial records) will help relax you and bring you into the moment. Candles (a calculator), fresh flowers (a computer), erotic art (Quicken software), finger foods (yes, why not finger foods?) and tantalizing aromas can transform any room into a temple of sexual (pecuniary) delight.
Tantric (Fiscal) Intimacy Exercises
Use ritual to develop intimacy (stability). Begin your journey with a ritual. This may be something as simple as sharing a glass of wine in the nude (as simple as checking your bank balance everyday). Some couples enjoy bathing together in order to attune to each other (that may not be a financial recommendation, but getting all sudsy might brighten one’s outlook on the economy, debt and life in general. Pass the loofah, please!)
As you experiment with Tantric (Saving) techniques, don't worry whether you are doing something the "right" way. Tantra (Saving) does not judge right or wrong, good or bad. Ultimately, your pleasure is what matters most. (Ultimately, spending less than you earn is what matters most).
Keep it slow.
Bring your attention to your breath. Resist the urge to breathe (spend) quickly. Quick breathing (spending) creates arousal, speeding you toward orgasm (debt). Instead, take long, slow breaths (withdrawals) from the belly (checking account), exhaling (spending) gradually. (And only when necessary).
Vary your positions (investment types) to explore your (portfolio's) duality. Different sex positions (stock options) add to sexual (investment) pleasure and balance male and female energies.
Relax.
…From there the author goes on to describe in detail the breaths and the muscles and the slowing and the undulations. All good stuff, but I’ll leave you to research her directions if I’ve piqued your interest in Tantra.
More so I hope that I’ve pique your interest in Saving and the realization that the joy of the quick spend is a momentary rush- robbing your bank account of a healthy base for interest to grow and robbing you of an emergency stash of cash.
(Here’s where I start to sound like a Southern minister)
Delay the mild gratification of a torrid incident with a credit card and opt instead for the will to say no, to put yourself on a budget and to know that you can be in control of your finances. (Yes, you can!)
Contrary to American culture, remember that not everything must be purchased, consumed or acquired at the moment we want it.
I don’t suggest stalling purchases forever, but, like Tantra, learn to slow down, gain focus and harness calm to make even the smallest, yet decisive, fiscal actions yield pleasure- or better- return on investment.
Namaste.
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