You're Fired

I don't know about many of you but I am tired of hearing about the big banks in America, and the enormous payouts they give to some of their employees. If you were "top big to fail" then how come you needed a large sum for bailout money from the government a year ago?

You may not have heard of it yet but there is a

grassroots effort to Move your Money from the big banks to a smaller bank. The thought behind this movement is that smaller community banks did not and will not make the risky investments that brought us to the current financial crisis. As Arianna Huffington writes, "Consider it a withdrawl tax on the big banks for the negative service they provide by consistently ignoring the public interest."

I really like this idea, supporting small local banks. Sure I may have to walk a little farther to find an ATM who will not charge me a fee, but if that money isn't going to pay some enormous bonus/salary to an executive at a bank who doesn't care about the local community, then I am all for it!

To find a list of the small community banks in your area go to moveyourmoney.info/

For now I will put my best Donald Trump impression on, and go to my bank and say "You're Fired". I am still debating if I should add the hand gesture with it. Thoughts?

Related Posts: I want to spend money, Turning your cause into a community

Picture courtesy of :http://www.medicalpracticetrends.com/tag/software/

Volunteer Ideas, Vol 1

Whatever your interest or skill set, there is some creative way for you to give back to others and the community. Most of us have less money to toss around and give away than we did a couple years ago so we've been neglecting the people who need our support.

The answer: Time & Talent

My answer: Throwing out an idea or two or three every week on how to give back with a tiny bit of time/talent commitment. Here we go!

No. 1: Horizon's for Homeless Children

Some of you think, "why should I help someone out who got his/herself into this situation in the first place!?" Well this group of little ones is undeniably deserving of every bit of assistance and love we can spare. They were born into situations they will never understand. What can you do? Help them develop, learn to share, laugh, and make loads of positive memories.

Horizon's for Homeless Children sets up play areas at homeless shelters throughout Massachusetts and then supplies responsible, fun loving volunteers as "Playspace Activity Leaders" to "foster healthy development through interactions and play." And you're not just helping when you're on site! While you're playing with the kids, mom/dad/guardian is able to attend career counseling classes so he/she can find a job and get a real home.

Locations: all over MA
Commitment: 2 hr shift every week for 6 months
Training: 3 hour training
Duties: think Mary Poppins of Joey Gladstone - be the fun 'adult'
Contact: Horizons for Homeless Children (617) 445-1480 or (800) 560-7702

How do I know it's good? I volunteered as a PAL during college. Questions? Just ask!

I want to spend money

I'm extraordinarily lucky for numerous reasons. I'm safe, happy, and healthy for starters. And to put the icing on the cake, I'm employed doing a job that I actually enjoy.

Every morning on my way to work at this job that I enjoy, I listen to news stories about the economic woes. People are unemployed, and even if they have jobs, they aren't spending money. What can I do to help? Well spend money, clearly. I'm not exactly rolling in dough, and I was raised by very frugal parents. But my boyfriend and I do go out to eat once or twice a week, we're going on a 12 day vacation, we're doing our part.

But I decided I wanted more. It was time for me to make a big purchase - my very first TV. After all, I'd be helping the economy, and prices are pretty danged good right now...

I'm not a martyr with no screens in the house. I'm currently using the TV my boyfriend bought with his snow shoveling money when he was 12 years old. It's 19 inches - not too shabby! - but it is 15 years old. Prior to that, I was using my grandmother's old 17 inch TV, even after it was flooded in 8 inches of water (the sound is a little fuzzy now). My DVD player is one of the first ones that ever came out, and came free courtesy of my dad's previous job. I also have a 3 year old laptop (with a line down its display), my work laptop, an iPhone, and a Wii from Craig's List.

But man oh man, I wanted a flat screen LCD TV, at least 32 inches, 1080p, and a decent contrast ratio.

But I couldn't find one anywhere, at least in my price range. It's been a month. Target hasn't gotten a shipment of TVs since before the Superbowl. BestBuy only has humongo TVs in stock way out of my price range Kmart didn't have any nice ones. Circuit City's going out of business "bargains" were nothing of the sort. Walmart (yes I even tried there) was way out of stock.

I wanted to spend ~$800, and can't find anyone to sell me a decent flat screen TV that hasn't gotten terrible reviews! There's three possibilities:

1. People are continuing to spend money they don't have, this time on TVs.
2. The economy's not actually that bad, at least in the Boston area.
3. The economy's so bad that TV manufacturers stopped making and shipping TVs, and/or retailers have stopped ordering stock for their shelves.

I tend to think it's #3, but likely it's a combination of all three factors.

For now, I'm just sitting on the $800 bucks. I'd rather have the TV, esp. since my ING DIRECT savings account is just getting 1.35% interest right now. I could go online to get it... but I tend to think I'll put in the order and it won't be fulfilled!

Perhaps instead of sitting on the $800, I should invest it in one of these TV companies. What do you think?

Related Posts: Sock it to the Holidays; Emergency Christmas; Penny Pinchin' Times; MEFA: down and out
This communication is for general informational purposes only and is not intended to constitute investing advice or a recommended course of action.

Fresh Air Fund Job Opportunities

Read on for summer job opportunities with the Fresh Air Fund.

The Fresh Air Fund, “an independent, not-for-profit agency, has provided free summer vacations to more than 1.7 million New York City children from low-income communities since 1877. Nearly 10,000 New York City children enjoy free Fresh Air Fund programs annually. In 2008, close to 5,000 children visited volunteer host families in suburbs and small town communities across 13 states from Virginia to Maine and Canada. 3,000 children also attended five Fresh Air camps on a 2,300-acre site in Fishkill, New York. The Fund’s year-round camping program serves an additional 2,000 young people each year.”

The Fresh Air Fund is accepting applications for summer 2009 camp counselors. Fresh Air Fund is looking for college-aged individuals who like working with children. If you want to be a part of their 133rd summer serving children...start here.

For more information contact Sara Wilson, The Fresh Air Fund, sara@freshair.org.

Spirit of Service

Please join the free Spirit of Service networking event on Thursday, March 5th at MJ O'Connor's, next to the Boston Park Plaza Hotel.

At this free networking event ORGANIZATIONS will:
- promote their cause and upcoming volunteer opportunities.
- vet young professionals for their advisory board and various committees.
- join, encourage, and promote an era of responsibility.

At this free networking event INDIVIDUALS will:
- discover opportunities for community involvement in Boston.
- meet other individuals of integrity and selflessness who embody the Spirit of Service.
- learn what it's like to join executive boards, advisory boards & young professional committees.
- join, encourage, and promote an era of responsibility.

This Spirit of Service event is an opportunity to make a commitment to our communities, an opportunity to get engaged, and an opportunity to help solve our most critical problems.

Sock It To The Holidays! --- A little humor

It's been icing, it's been snowing, and all we hear about is how our economy is in trouble. Watch (and listen) to these "wise socks" tell you how it is. It's a little TGIH (Thank Goodness It's the Holidays) for you this Monday morning!

Related Posts: Ice Storms and How you can help; Penny Pinchin' Times; Don't forget about your pet; It's still the economy, stupid
Video shared with me by my godmother Jeanne. Thanks!

Buy Local for the Holidays

So the "experts" finally realized that we are in a recession. Thanks for FINALLY admitting what we all have known to be true for awhile now. With the terrible economy many are choosing to scale back on their purchases for the holidays.

However if are able to buy gifts this year, you can really help the local economy if you buy from local vendors. Where to find these local vendors? Come on out this Sunday to the Bazaar Bizarre at the Castle at Park Plaza on the corner of Arlington Street & Columbus Avenue in Boston.

Bazaar Bizarre began in 2001 in the Boston-area as a celebration of local artists and their handcrafted DIY wares to sell and at the same time staging an offbeat entertainment extravaganza. If you're looking for gifts that are unique, I guarantee this place has it.

Details
Date: Sunday December 7, 2008
Place: The Castle at Park Plaza
Time: Noon-7pm
Cost: $1 to get in

Related Posts: The R-word, Sock Monkeys for Charity, designgive - creativity is a gift
Photo Courtesy of http://www.bazaarbizarre.org/

Fuel Assistance and Utilities Workshops

Economic instability and the rising costs of basic needs have the greatest impact on the most disadvantaged members of a community. Families, right next door, are struggling with the increased costs of food, heat and housing. Nobody is more directly affected than the working poor.

I want you to know that there is help out there, for everyone.

Learn how to save energy and avoid being left out in the cold at a free Utilities Workshop offered by the Metropolitan Boston Housing Partnership. These workshops are sponsored by the Brookline Home Heating Task Force.

At a seminar you will learn how to:
-Apply for weatherization and fuel assistance
-Get discounted rates from your utility companies
-Find options for paying overdue bills
-Learn your rights and responsibilities as a consumer

The next meeting, in an ongoing series, will be held Friday, November 7th, from 10:00am—11:30am at the Brookline Senior Center, 93 Winchester Street, Brookline, MA.

Check the Metropolitan Boston Housing Partnership website for updates.

Charitable Giving in 2008 - What's the outlook?

Banks are failing, foreclosures are abundant, we've officially been in a recession for a few months now, we're still at war spending billions... the outlook is not good, especially for people's pockets.

Does that mean, though, that non-profits are in trouble? If my pocket is empty[ier] than before, chances are that I'll be giving away less. In fact, for a lot of people, that might be where the funds are cut first.

Ug. Not what any of us associated with non-profits would like to hear. Who wants to think about kids with cancer who might not have housing because donations are down, or that the banks of the Charles River become even more trash covered since there are no funds to get supplies for volunteer cleaners?

So maybe you can't afford to donate your hard earned cash. That doesn't mean you can't give. Instead, try the following:

• Donate clothes that no longer fit (no honey, you're not going to fit into those jeans from college)
• Donate your pet supplies that your pet treats with disdain or perhaps have outgrown since their adorable baby animal years
• Volunteer with friends for a few hours at your local soup kitchen, with one of OYFP's partners, or with YAVA this Saturday
• Take the a UNICEF box around with you to collect change when you go trick-or-treating this Halloween (adults can trick or treat too!)
  
• Run a coat drive at your workplace
• Donate blood! Plus you get some yummy snacks afterward.
  

There are things you can do to help without spending money. People need your help now more than ever!

Related Posts: Don't forget about your pet; Sock monkeys for charity; Increasing Food Costs; It's the economy, stupid; What is this credit crisis you speak of, and why do I care?; An economic recovery plan, in a cup; The R-Word; Penny Pinchin' Times
Photos courtesy of Nice Diver

Penny Pinchin' Times

Perhaps if you live under a rock or in a cave, or don't watch TV, listen to the radio, read magazines or newspapers, walk down the street, or talk to anyone, you haven't heard that the economy is in trouble. Investment banks are collapsing left and right, there's not much available credit, the US dollar isn't worth very much.

What does that mean to you? Well, aside from making that planned trip to Europe exorbitantly expensive, it means you're suddenly going to find that your money isn't going that far. Two interesting bits I heard on NPR:

Salaries have not been keeping up with inflation. So, to substitute, people have been using credit of all types - home equity, credit cards, etc. That's sounds like a recipe for disaster.

We're in the worst economic times since the Great Depression, at least according to one commentator.

Remember those times in the 1930s? No, me niether. But I remember hearing my grandmother talk about it. She used to search in the couch cushions for loose change in order to be able to take the trolley to school. Until the day she died, she re-used everything, and her favorite places to shop were estate sales and garage sales. For a special treat, she'd take a look at the clearance rack at Marshall's. And all things considered, my grandmother and her family had it pretty good during the great depression - her mom was a physician.

I don't think most of us are quite at that level yet. To keep more of your money around, here three of my ideas for what you can do to save a little, but still have fun:

1. Go out to eat less. When you get the urge to go out, have just an appetizer and drink at the bar. Chances are that will be filling enough. Alternatively, order the food but not the liquor and you'll save a bundle (in both $$ and calories). My favorite way to eat new foods is to host a potluck! No, I'm not a mom, I'm a twenty-something who happens to love potlucks. Try it for yourself, it's fun.

2. Make gifts for birthdays and the upcoming holidays. You don't have to be all Martha Stewart to give something nice. For my friend's recent wedding, we all wrote memories and things we loved about her on pretty slips of paper, and put them in a decorative jar. Cost was minimal, and she absolutely loved it. Alternatively, you could pick up a frame at a garage sale, spiff it up with some spray paint, and put in a photo of you and the giftee or a meaningful quote of some sort.

3. Take public transportation, walk, or ride your bike instead of driving your car or taking a cab. You'll prevent road rage, avoid accidents, and save the earth, all while saving your moneys. Yes, you will have to budget in a little extra time, but it could be well worth it.

All these small behavioral changes can add up - try them, and you'll see!

What are some of your tips for pinching a few pennies?

Related Posts: It's the economy, stupid; What is this credit crisis you speak of, and why do I care?; Don't forget about your pet; An economic recovery plan, in a cup; The R-Word

Photo courtesy of LizWhitmire.

MEFA: Down and out

A few months ago, we wrote about how MEFA (the non-profit Massachusetts Education Financing Authority) could not find any financing to provide low interest college loans to Mass state residents. Their goal for the year was to raise $600 million from private financing, which they would then lend out to college students.

Well, things didn't improve, as you might have guessed. MEFA raised no money, and has no low interest loans to offer. Governor Patrick is trying to raise funds for the organization by getting the Massachusetts state pension fund to buy $50 million in MEFA bonds. The effort, though noble, will not come close to the $600 million they were shooting for, even if the bonds are purchased by the state.

What does this mean? Fewer kids may be able to afford college, or if they do go, will come out with much larger debt loads. They'll enter the work force (if they can find a job) and be working their butts off just so they can make their loan payments.

"Wait," you say, "I already am doing that."

Sure you are... but it's going to be worse for those coming after us. My siblings and I chose to go to state schools, and had very little debt due to our parents' diligent saving and our hard work over summers and during the school year. However, the price of state schools is increasing, and the number of students who want to attend the more affordable University of Massachusetts is skyrocketing. The more kids that want to attend, the more competitive admittance is. That leaves students who may not have had the best grades in high school (but who have plenty of potential) with fewer options.

So where does that leave us? State schools are more expensive, less well funded (which may impact the quality of the education), and more competitive. Students can't get affordable loans.

Geez. I've pretty much talked myself into a corner. I guess I should start saving for my theoretical kids' theoretical college educations... unless you have an alternative solution...?

My sister Kristen (on the left) learns how to be an artist at UMass Dartmouth

Related Posts: Higher education in danger for the Bay State?; Give pregnant teens a chance at education; Our intern at OYFP; Earthquake in China Volunteering;
Photo courtesy of my sister Kristen.

July 4th in Boston

Fireworks are canceled across many a town due to budget cuts, lack of corporate sponsors, and a shortage of fireworks due to that explosion at the Chinese fireworks company a few months ago. However, chances are you can still catch an explosion or two to celebrate our nation's independence.

Here are some of our picks:

Celebrate early in Lynn: This oft overlooked city is celebrating with fireworks tonight, Thursday, July 3rd at 9 PM. Free to the public!

Newton goes to town: The citizens of this fine town must love July 4th because they have an entire day's worth of activities topped off by fireworks at 9 PM at the Russell J. Halloran Field and Sports Complex, Newtonville, MA.

Good food, potential view: Try the Cambridge Sonata's six course menu and beverage sampling event. Fireworks may be visible - it all depends on Mother Nature. Tickets for this scrumptious event at $140.

Beer on a Boat: Boston Young Professionals' Association has organized a sailing adventure for July 4th. Tickets are $50, but you can save $15 if you're a Going.com member.

The Classic: Stake out your spot early, 'cause the Esplanade gets crowded. There's nothing quite like the Boston Pops and fireworks.

The Classy: Nothing but the best for you? Try the Top of the Hub for dinner and the works (the fire kind, of course).

Visit the islands, mon: Take a look at the Bostonist's Harbor Islands ideas.

Find your own spot: Use EveryScape.com to scope out your own fireworks fun.

Do It Yourself: Purchasing and setting off fireworks is illegal in MA. You can buy fireworks in NH, but can't set them off there without a permit. However... if you do decide to go the DIY route, make sure you're safe, folks! Uncle Sam wants you to have all 10 fingers and limbs intact at the end of the weekend.

Happy 4th of July, everyone!

These fireworks photos may or may not be of New Year's fireworks at a party
I attended and possibly helped host.

Related Posts: Philanthropizza; Chinese Volunteer Opportunities

Don't Forget About Your Pet

Some would say that our economy is currently in recession. Whether you agree with it or not, you will have heard that the economy outlook is not so good for 2008. With people concentrating on making payments to their adjustable rate loan rate they may not have money to pay for food for their beloved pets.

Some pets even become abandoned, according to Brian Adams, Spokesman for the Massachusetts Society for the Prevention of Cruelty to Animals. Mr. Adams continues to say, "We've seen dogs that have either been chained up outside or left in the yard when the people have left, we've seen cats who are just set free''.

If you own a pet and can no longer pay for their food or shelter here are some places you can take your pet so they can find a new loving home.

• MSPCA
  
• Boston Animal Care and Adoption Center (617) 522-5055
• Metro South Animal Care and Adoption Center (508) 586-2053
• Nevins Farm (978) 687-7453
• The Animal Rescue League of Boston (617) 426-9170
  

• Dedham branch: (781) 326-0729
• Lower Cape Cod branch: (508) 255-1030

To find other shelters in your area, go to petfinder.com. Out in your zipcode on the left hand side to search for Animal Welfare Groups.

If you also have the time and resources available may I also suggest to use petfinder.com to find the pet you are looking for. That's how I found my rescue dog, and couldn't be more happier with her. I mean, who is going to say no to that face!

Related Posts: Moose Plays Dead; Recycling Dog; Sock monkeys for charity;It's the economy, stupid; What is this credit crisis you speak of, and why do I care?; An economic recovery plan, in a cup; The R-Word; Penny Pinchin' Times

Photo Coutesy of: Moi

Tornadoes, Cyclones, and Disaster Relief, Oh My!

Tornadoes struck Oklahoma, Missouri, and Georgia on Saturday. Twenty one people have been confirmed dead, and the tornadoes left devastation in their paths. Small towns across the midwest, many of which were already suffering economically, now have to mount an enormous recovery effort.

Thank goodness, though, our government and our strong network of non-profits are able to provide aid to those families in need. Yes, sometimes the response is imperfect or severely lacking (Hurricane Katrina, anyone?), but some is better than none.

Many people in Myanmar are still waiting for disaster relief, ten days out from when the cyclones struck and massive flooding occurred.

Did I say many? I meant most. The military junta in control of the country has insisted on distributing all aid, and are preventing most donated supplies from even entering the country. Slowly, though, the government is letting in air shipments of supplies and distributing it themselves (and taking credit for it). Unfortunately a boat bearing Red Cross supplies intended for victims living in the Irawaddy Delta hit a tree in the flood waters and sank, leaving even more families without food and fresh water.

Many disaster relief experts talk about the "ten day mark," which is when we can expect to see another wave of deaths due to the lack of clean water, food, and shelter. Today is the tenth day since the cyclones in Burma, and we can only expect the news to get worse.

Still, even in the face of all this death and suffering, the Myanmar government will still not let trained disaster relief staff into the country to help their people, nor will it let in all the supplies that the world is willing to give!

If you wish to help victims of the recent tornadoes in the US or the cyclones in Myanmar, please consider donating to the Red Cross. You can specify where your donation will be used.

A section of the Irawaddy Delta, which has been completely flooded.

Related Posts: Global Volunteering; Myanmar Cyclones and what you can do to help

Photo of US tornado courtesy of the Associated Press.
Photo of flooded Myanman courtesy of Doctors Without Borders.

It's still the economy, stupid.

James Carville, former political strategist for Bill Clinton during his presidential campaign against George H.W. Bush, originally coined the term “The economy, stupid”.

At that time, George H.W. was the strong favorite in the race for the White House until the (Bill) Clinton campaign adopted messaging that echoed the public’s fears of the economic slowdown caused by the stock market collapse on Black Monday in October 1987, and proven in the actual recessions in 1990 and 1991. Why was George H.W. Bush way ahead early in the polls? Because he was seen as having more experience with national security.

It's still the economy, stupid. "From concerns about the economy and the war in Iraq to the perennial topics of Social Security and the health care system, a range of issues are guiding this year's presidential race," CNN.com goes on to list the issues and show the poll results. Many of the polls suggest that the most important, if not the main, issue Americans care about is the economy.

So, we know the economy is a concern and we know the credit crisis is almost certainly the biggest concern lately. But, what exactly is the problem? The problem is that we don’t know where the problems are.

As the Economist put it: “There is still vast uncertainty about how much toxic debt remains, and who owns it. This has led banks to hoard money and call in loans.” Until the bad investments are uncovered we don’t know of their existence and banks will remain very conservative. This unknown has created a panic on Wall Street and caused severe cutbacks, speculation and major stock fluctuations over the past few months.

One thing is certain, confidence is key and the current uncertainty will certainly lead to further bumps in the road. Hold on and strap in because its still the economy, stupid.

Related Posts:  What is this credit crisis you speak of, and why do I care?; Don't forget about your pet; An economic recovery plan, in a cup; The R-Word; Penny Pinchin' Times

What is This Credit Crisis You Speak Of? And Why Do I Care?

I thought it might be useful to follow up on Casey's post regarding the credit crisis and its recent impact on the student loan market. The events of the past nine months have been a sobering statement about what it means to be able to borrow money. From the most complex transactions at the largest banks in the world to your grad school loan or home mortgage, all the way down to the woman in rural Vietnam taking out $35 for a six month loan so that she can buy a pig, the wheels of economic mobility are greased by - better yet, completely stuck without - someone being there to lend you the money.

We borrow money every day: from the credit card company when we go to the grocery store or the mall, from Dell when we buy a computer, from the dealership when we buy a car... the list goes on. We also lend money every day.... to the banks where we keep our savings. They pay us a little interest on that money so that they can lend it out to other people for their home mortgages, cars, etc. Importantly, banks also raise money by selling off their loans to investors in packages (think of it as putting 1,000 loans in one box and shipping it to someone else), so that they can use that money make more loans.

What happened that messed everything up? Well, at its core, borrowing and lending money is not just a legal contract, it's a social contract, a chain where all the links in the chain must be solid in order for the system to work. If someone takes out a loan they can't afford; when lenders push inappropriate loans on borrowers in order to generate origination fees; when banks don't explain to borrowers that in two years their interest rates will increase and their mortgage payments could double, then the links in the chain start getting pulled pretty tight.

When you can't afford your mortgage, you can try to sell your house and bail yourself out, but what if it isn't enough to pay back the mortgage? What if this started happening to thousands of people? Well it did. And when enough people can't pay back their loans, then a link in the chain breaks. Housing prices start decreasing, the packages of loans the investors bought from the banks is worth much less, and somewhere, whoever the investors borrowed money from to buy that package of loans wants their money back yesterday. That's when things get really dicey.

[As a detour, I would like to point out one market that has not failed: The microfinance market. In developing countries around the world, women (and a few men) are borrowing small amounts of money in numbers unimagined even a decade ago...and paying it back! When five women get together and say to each other, "if one of us fails, we're all responsible," that means something. There are many microfinance organizations to which you can donate, or even lend, money, but I will save that for another time.]

The social contract of borrower and lender in the U.S. has faltered, and as a result the trust we depend on that makes lending money possible has been severely impaired. And that is where we are today, an accelerating lack of trust: no trust for home mortgages, no trust for student borrowers, for Fannie Mae or Freddie Mac or the U.S. dollar. What is the U.S. dollar backed by? Not gold. Not diamonds. Not Warren Buffet. Our currency is backed by the full faith and credit of the United States Government.

Take note, because those words, "faith and credit," they go hand in hand. In order to believe in our economy, we must believe in our government. So, Government, pretty please, give us something to believe in.

Will the credit crisis reduce people to laundering money?

Related Posts: It's the economy, stupid; Don't forget about your pet; An economic recovery plan, in a cup; The R-Word; Penny Pinchin' Times

Higher Education in Danger for Bay State?

I'm a proud graduate of UMass-Amherst, along with two of my brothers. My little sister is currently attending UMass-Dartmouth. Thanks to hard work, scholarships, and my parents' savings, we were fortunate enough to attend college and graduate with minimal loans. Now I have a great job doing something I love - and this wouldn't have been possible without my college edu-ma-cation.

"Duh," you might say. "College gets you ahead."

However, young adults in the Commonwealth may not be as lucky as we were. This morning WBUR (my local NPR station) had a piece on how the non-profit Massachusetts Education Financing Authority has not been able to secure any funding for its low cost college loans programs. That's zero. Zilch. Nada. No money for their loan program, which has been helping out students for over 25 years.

Bob Oakes, the interviewer, seemed taken aback by this. "Not a dime?"

They were looking to raise close to $600 million for student loans, and blame the credit crunch for their difficulty. Various politicians have written letters to other politicians, but we all know where that will go: Nowhere.

As the director of MEFA said, this problem is going to have an immediate impact on Massachusetts. If students can't get funds, they won't be going to college, which will mean we will have a larger uneducated work force, and potentially a larger drain on social services. Students and their families may leave Massachusetts to live in other states where more funding may be available, or state schools are more affordable.

Can anyone say, "Brain drain?" Massachusetts, currently a state known for (and proud of) its well educated workforce, could be on the road to a big fat nowhere.

Did you get loans for college? What would you have done if the money just wasn't there?

Will there be fewer ecstatic graduates in Massachusetts in four years?

Super Tuesday Preview: Who's the Decider? You Are.

This Tuesday is going to be fun. And it is going to be a big-ish day for recent American democracy, which has been mostly marked by indifference, itself a product of things in America being, well, too good for us to need to care too much what our leaders are doing besides lunching with lobbyists.

Fortunately for those of us who rejoice when voter turnout increases (and really this should be everybody), we are starting to be given reasons to care more. It might never be the same as back in the days when anyone of a certain age held a lottery ticket to could send them to war, but those days may yet return. That said, in lieu of reviewing the positions of the candidates on issues that they have chosen to highlight, I thought it might be useful to note what I think is going to be at stake in November:

• America's place in the world (politically): No one can be the dominant power in the world forever; the mark of a declining power is when you can't see it staring at you in the mirror. If you think national security is an issue now, wait until one of those countries with one billion people and/or with nuclear capabilities decides that they don't want to take our petulant attitude toward them anymore. Who will put us on a track to prevent that day from coming? Who will have the judgement to correctly answer the question: "What is an imminent threat?" Or, if it's inevitable, who will make sure that there are some other countries that still like us enough to stand with us on that day? I think that it will be the individual who best appreciates the value of human life (not in the family planning sense, let's set that issue aside for the moment).
• America's place in the world (economically): First, the dollar is falling. And most of us don't have the foggiest idea of how to pick it up. It's like our paychecks are all getting smaller. I'll tell you what doesn't help: spiralling national debt. Forget policy: mathematically, you just can't collect less taxes and spend more money and expect everything to be cool. Not too mention folks around the world worrying that America is not a creditworthy place (or a welcome place, for that matter) to invest their money. Second, globalization. It is inevitable. And when people in poor places get jobs, that's good for the globe. But someone needs to invest in American innovation too.
• The "O" word. Oil is a consumer issue (it's making everything more expensive here, and even more so because the dollar is worth less); a jobs issue--if we invest heavily in long-term, leap-frog alternative energy initiatives, you can bet we will generate lots of jobs here; an environmental issue--I don't know much about CO2, but it seems like the downside of doing nothing about our emissions issues could be a lot worse than the upside; and, by the way, it's also a national security issue--if we don't need oil then we don't need to fight about it, and we don't need to be nice to shady-ish governments just because they have a lot of it.
• The Supreme Court. Stevens, 87 years old. Ginsburg, 74. Scalia, 71. Kennedy, 71. Breyer, 69. Souter, 68. Thomas, 59. Alito, 57. Roberts, 53. Four members to the right, four to the left, and a swing vote. This was touted as an issue in the last election but ended up being swallowed by other matters, and sure enough, we got two new judges. Looking ahead, we will have at least one new judge in the next four years, and we might have as many as four new judges in the next eight years. Aside from amendments to the constitution itself, the Supreme court has made the most influential decisions in the history of American policy. The President gets to pick these folks, almost at will. So let's choose our President very carefully.
• The future of Africa: If you're under 40, you probably recognize the hook, "mo' money, mo' problems." Well this is true in some places in Africa. What is even more true in Africa is the lesser known hook, "no money, mo' problems." That's right. No money, no education, no food, no electricity, no running water, no political stability, and perhaps most importantly, no healthcare. I know how hard it is to compare a problem down the block to a problem 7,000 miles away, but the magnitude and immediacy of Africa's problems are gi-normous and rather harrowing. Can you imagine dying from a cavity? Can you imagine if all your friends had HIV at the same time...and no medical care? And, incidentally, unstable countries are more prone to influence from bad guys. So this is a national security issue, too.

These are some of the issues where we find ourselves at a fork in the road, but there are plenty of others. What is at stake for you this November?

An Economic Recovery Plan, in a cup.

Starbucks Corp., the world's largest chain of coffee shops has recently unveiled its economic recovery plan, further highlighting the compete inadequacy of our current leadership.

Acknowledging the fact that the Bush administration can’t independently handle the fiscal woes of our staggering economy, Starbucks throws its hat, or cup, into the ring. They hope that by offering the $1 Short Coffee they will help jump start the country's economic recovery. Those close to executive management said: “we would like to emphasize that our loyal customers can still enjoy grossly overpaying for our products if they choose."

I’m looking forward to the $1 coffee. And, as a side note, Starbucks has been great to OYFP! They’ve donated their great coffee and baked goods to a few of our past events.

What we don't know may kill us. Or not.

I'm glad John brought up the recession. It may actually have started already and we just don't know. Or it may never start, though the way things are going it's hard to imagine a big turnaround just around the corner.

The news topic of the week seems to be "what is the federal government going to do about the recession?" There will be much debate and perhaps some action, and later people will claim "this worked" and will be rebutted by "no, you're wrong, that worked." Meanwhile, many believe that congressional action can't work at all, and that these things are best left to the Federal Reserve, which can fix the problem more cleanly by simply cutting interest rates.

The funny thing about economics, though, is that no one really knows for sure what will work, or how quickly. Frankly, its status as a science can be a little on the murky side sometimes. It makes me sad because I really like economics, and I gravitate to the straight forward logic of (i) identify problem, (ii) find solution, (iii) implement solution, (iv) magic! But we have seen periods in which tax cuts were followed by economic growth and periods where tax increases were also followed by economic growth, as just one example. Go figure. Of course, that doesn't mean that nothing should be done. In fact, our quasi-ignorance probably means that a belt and suspenders approach is probably most appropriate.

But it's not just economics that's the problem. So many important public policy decisions are presented to us as clear imperatives (do this, don't do that)--war, health care, foreign aid, environmental issues--while meanwhile their vast ramifications are, more often than not, largely unknowable. I just wish we could all recognize how much we don't know, and that our civic leaders would consider more deeply what would happen if their plans for us, well, just didn't work out quite right.