Archives For finance

you got to be ready

November 8, 2007 — Leave a comment

many eons ago i did economics, that by no means makes me a financial expert, but looking at the economy here, has me more than a little worried. and i’m fascinated, especially working in a retail environment, how people continue to spend money.

there are fundamental problems with the US economy and when the curtain is pulled back the middle class are going to paying for it yet again. people here seem to be suffering from short term memory loss, less than 25 years ago the S&L bailout cost taxpayers $125 billion and now we have ARM (adjustable rate mortgage) and NINJA (No Income, No Job, No Assets) loans which have already started defaulting and more than likely in the next 12 months are going to require a massive bailout. 

for those of you haven’t been playing the home game, mortgage brokers betting on an ever expanding housing bubble started to loan money to people who weren’t actually qualified and then in turn selling this mortgages to other companies, who in turn used those as investment vehicles. if it sounds like a glorified pyramid or ponzi scheme, then you’re right, only the first set of people actually made the money at this point, everyone else is screwing the pooch. this is just limited to individual investors at this point, but large multinational and international banks that bought a lot of what is soon to be worthless paper. 

what i’m wondering is how is the middle class going to afford this bailout, a lot of people got caught up in the hype and in just as much trouble as their flexible interest rates start to rise, the US$ continues to lose traction, the cost of fuel and food continues to rise and wages remain stagnant. my other questions is who benefits from the bailout? the people who are going to lose the houses the shouldn’t have qualified to buy in the first place or the companies that brokered these loans? and isn’t that taking from the not as well off to give to the worse off or in some cases the very well off?  

Sophie’s Choice

December 16, 2004 — Leave a comment

in the four years i was living in Trinidad, actually for the three years preceding that as well, i had no health insurance. i was a freelance contractor in most cases or my full time employer didn`t offer health care benefits. but it was ok, because in that tiny little twin island republic, we had socialised medicine. yes, there were excessive waiting periods and sometimes you had to go somewhere else to get prescribed medication, but it was available, you had a choice.

now i have this job and i have to have health insurance and as of January it`s going to be Sophie`s choice, coverage for me and my family or rent. a combination of a 21% increase by the healthcare provider plus a 15% cut on the amount my employer pays equals a 30% cut in my pay cheque. a friend asked if it was low pay or high insurance costs and i think it`s a combination of the two. continuing to do the math, i`ve realised that were it not for my employer contributions, all of my salary would be spent on paying to make sure, vic, the boy chick and myself had some kind of coverage.

there is no hope for a raise, so now i`m trying to find cheaper alternatives for coverage for my family. my immediate option is getting everyone checked up while we still have coverage, then dropping the family portion of the plan for major medical, because what`s the point of having health insurance if we don`t have somewhere to live.

day three

April 10, 2003 — Leave a comment

i hate being broke. not just regular broke, ketch ass broke, down to my last dollar. sigh.

coupled with this my hormones are in a frenzy… i work in an office filled with women… today was mini skirts, tight pants and low tops day. wonderful eye candy but… it’s really not doing much for me… and for those of you that don’t not me too well, i’m not gay. i’m not entirely straight either but it’s not like it’s any of your fucking business either way.

moving on, i’ve been avoiding talking about the war, just in case the government is spying on me, but fuck… i have to get this off my chest
us gov and multinational corporations will be responsible for rebuilding iraq?
that’s like giving enron execs you bank account number and telling them to leave the money alone. like that is ever going to fucking happen.

relationships… not that i’m an expert, but i think you can’t plan out a relationship, part of what makes it work is spontaneity and the surprises along the way. you find someone that makes you happy. trying to define what you’re looking for in your partner, down to their bank balance and what they wear, is not necessarily a good thing. but that’s just my opinion.

thank you and good night.