Author: Roger Staiger

6 September 2018

 

List-Serve Comment (w/ permission): I am around this golden age of 40 and I cannot adequately describe the impact numbers 8, 9, and 17 have had on my life and well being.  I’ve spent many hours (and dollars) in therapy battling anxiety and self-loathing.  It is a never ending battle, but right now I’m winning it.  If you don’t mind, please remind your readers that asking for help does not imply weakness.  Rather, doing so is a sign of maturity and self love.

 

(Prof Note: We all have demons and darkness.  If I can assist anyone, I am here.  There is always room at the table for another plate(s).  All are welcome at the house and I do not need to know specifics.  If I can assist, I will assist.  If you do not want to be alone, just like motel 6, I’ll keep the light on for you!)

 

Question: According to MSN, what 10 essential steps should one take prior to connecting to public Wi-Fi?

 

Investors shed emerging market stocks on fears of deeper crisis – Pg. 1

–          The emerging market sell-off sparked by Turkey and Argentina’s twin currency crises worsened yesterday…

–          Indonesia’s rupiah traded close to its weakest level since the 1998 Asian financial crisis, while South African rand slipped to a record low after data on Tuesday showed that the country’s economy had contracted for the first time since 2009

–          The rise of the US dollar since April has exacerbated troubles in several emerging economies, where the amount of dollar-denominated debt has more than doubled to $3.7tn over the past decade, …

–          Climbing US interest rates and the Federal Reserve slowly trimming its balance sheet of bonds acquired after the financial crisis has supported the dollar and increased pressures on emerging markets…

 

The story of a house – Pg. 7

–          Pension funds in California, Maine, Nevada, Vermont and Washington State all sued the new owner of countrywide, claiming that its sales documents were insufficienctly forthcoming about the risks.  Bank of America, which bought Countrywide in January 2008 for $4bn, has paid more than $20bn to settle these and other Countrywide-related cases (Prof Note: For the record, at the time, I made a prediction here that BoA would NOT complete the Countrywide purchase.  If only they had thought as I thought!)

–          As a result of losses on credit default swaps, AIG was forced to accept a US government bailout and taxpayers’ money immediately flowed through the banks

–          …7.8m families who have lost their homes since the beginning of the financial crisis

–          …company called Invitation Homes that floated on the stock market last year.  Today it is worth $21.6bn including debt.  It owns 12,000 homes in Atlanta alone

 

US social media face new line of attack – Pg. 12

–          The US justice department has signaled that it intends to pursue technology companies over competition and free speech issues,…

–          …Facebook and Twitter pushed back against a suggestion that they should be legally liable if illegal drug dealers showed off their wares on their websites.  The two companies currently are not liable for almost all user-generated content, under section 230 of the US Communications Decency Act

–          Congress passed legislation last year removing the exemption for content that promoted sex-trafficking…

 

US banks feel stifling effect of high house prices – Pg. 14

–          Wells Fargo decided to lay off 638 workers from its home mortgage division last month

–          “House price appreciation has been running at four times the long-term average for several years” (Prof Note: So at least I am not the only one noticing this!)

–          The Case-Shiller 20-City Home price index surpassed its housing bubble peak in January, and has continued to rise since

–          The number of existing home sales in July fell 1.5% from the prior year, the fifth month in a row showing a decline…

–          Consumer confidence is at an 18-year high, growth is strong and unemployment is low

–          Applications for new mortgages, excluding refinancing, have been flat for the past year and three years of steady increases, and have declined sharply in the past month…

–          Basic economics suggests that high house prices would encourage more supply, something that could free up the market and revive banks’ fortunes.  Paradoxically, however, a short-term effect of the strong economy has been lower supply.  Seeing few affordable properties to move to, potential sellers are not putting their own homes on the market

–          Homebuilders are struggling to find staff and manage higher costs

–          …total home sales will fall this year, and grow only slightly in 2019, while prices continue to rise at a mid-single digit rate

 

Answer: (1) Choose a secure network; (2) HTTPS is best; (3) Ask before you connect; (4) Hide your passwords; (5) Inoculate your devices; (6) Put up a digital security fence (Prof Note: I cannot recommend this enough.  I use a secure server and never sign on to public wifi, instead using my phone hot spot.  If I do sign on to public wifi, e.g. Netflix downloads, I do NOT sign into my server but doing everything on the “dummy” machine, i.e. laptop); (7) Beware of your phone’s auto settings; (8) Vet your apps; (9) Surf with care (Prof Note: I would NEVER sign into my emails over a public Wi-Fi.  Also, and GWU can attest, I do not even sign into the school computers with my user name.  I request a one-day log-in.  GWU has the login the same as email.  Compliment: GWU’s IT department has always graciously provided me a one-day login); (10) Make your own hotspot (Prof Note: YES)

5 September 2018

 

Question: According to MSN, what are 40 things no one told you about turning 40?

 

Japan eyes highest retirement age to curb damage from population decline – Pg. 1

–          …wanted to raise Japan’s retirement age beyond 65, and allow people to defer their pension beyond 70

–          Advocates believe keeping people in the workforce will boost the economy and save money for Japan’s cash-strapped social security system

–          Mr Abe was elected in 2012 on a promise to revive Japan’s economy and end 20 years of on-and-off deflation.  He has delivered six years of solid growth but inflation is still stuck close to zero

–          His comments suggest he wants to use the next three years to address the fiscal problems caused by the rapid ageing of Japan’s population.  The native Japanese population is falling by 300,k000 people a year, with the decline set to accelerate

–          Working longer will not only mean less time receiving a pension, but social scientists have found it often sustains good health and keeps important skills in the economy

 

S Africa in recession for first time in 9 years – Pg. 4

–          Output in sub-Saharan Africa’s most industrialized nation fell by 0.7% in the second quarter, on top of a 2.6% contraction during the first three months of 2018, …

–          The South African rand fell more than 2% against the US dollar, hitting its lowest level since early 2016

–          South Africa’s economy has failed to grow more than 2% a year since 2013, and faces serious structural obstacles such as unemployment of more than 27%.  Rising fuel prices have recently increased the pressure on South African consumers

–          Planned land reform – a controversial move to alter the constitution to allow expropriation without compensation – also risks souring South Africa’s investment environment

–          The bank is forecasting 4.8% inflation this year, around the middle of its target band

 

Why so little has changed since the crisis – Pg. 9

–          The chief aim of post-crisis policymaking was rescue: stabilize the financial system and restore demand.  This was delivered by putting sovereign balance sheets behind the collapsing financial system, cutting interest rates, allowing fiscal deficits to soar in the short run while limiting discretionary fiscal expansion, and introducing complex new financial regulations.  This prevented economic collapse, unlike in the 1930s, and brought a (weak) recovery

–          The financial system is much as before, albeit with somewhat lower leverage, higher liquidity requirements and tighter regulation

–          Beyond finance, it seems ever clearer that protection of intellectual property has gone too far.  Also, why not shift taxation on to land?  Why are we letting the taxation of capital collapse?  And why are we not trying to revitalize antitrust?

 

Answer: (1) Being 40 doesn’t feel especially Old (Prof Note: Accept when asked/needing to do manual labour!); (2) You feel more comfortable in your skin; (3) You don’t care as much about being cool (Prof Note: Due to the realization that I truly am the yardstick from which “cool” is defined! J); (4) You regret the friends you let slip away (Prof Note: But you also cherish those that have not and make greater efforts to get together); (5) You’re more acutely aware that time is precious (Prof Note: “Time” the most valuable commodity!); (6) Hair is a luxury (Prof Note: As a redhead that has retained my red hair today, I see it as my personal miracle!); (7) You start making weird noises; (8) You’re finally able to tell your inner critic to can it; (9) You ask for help when you need it (Prof Note: Many that have been on this list-serve for years know the dark history of my family.  I was successful in court and justice as I asked for help.  I was in trouble, put my hand up and said, “I need help.”  Every peer/friend/acquaintance helped me including organizations, e.g. ULI and Hopkins.); (10) You’re more discerning; (11) You understand now that success never walks a straight path (Prof Note: Also the definition of success is “happiness” but not singular but plural); (12) Your sex life is the best it’s ever been; (13) You stop freaking out about what you’re going to be when you “grow up” (Prof Note: I have learned and believed the ultimate titles are Friend, Peer, Husband, Wife, Philanthropist, Wife, Father, Grandparent, etc.); (14) You’re quicker to give up on toxic relationships; (15) You stop making decisions based on guilt; (16) You stop taking your health for granted (Prof Note: I just had a tooth removed and am reviewing a total treatment plan for my dentistry.  On a different note, getting narcotics at Walmart WITH a prescription is an experience.  They limit what they provided despite the doctor’s prescriptions and THEN one has to fight to get the written prescription back to take to another pharmacy.  Positive comment: Walmart did catch an allergy that the doctor did not.  The doctor LOVED me tracking him down at home to call in another prescription.); (17) You realize that most of your concerns aren’t the end of the world; (18)  You realize you should have traveled more when you were younger (Prof Note: What have I been telling everyone?!); (19) You wish you’d put more away in savings; (20) It’s easier to say no (Prof Note: I still struggle when asked if I want to see the dessert menu!); (21) Nobody condescends to you anymore because they think you’re too young; (22) You’re not afraid to ask for what you want; (23) You wear what you want (Prof Note: One of the greatest compliments was when a younger person in DC, with whom I was meeting, asked how he purchased a Cat Ghaut Golf shirt!); (24) You can no longer pull off a convincing fist bump (Prof Note: I have ALWAYS felt ridiculous doing fist bumps.  I also get confused when someone puts it out there.); (25) You have a paunch; (26) Your favourite music becomes “classic rock” (Prof Note: I will admit to being a closet Tae Tae fan); (27) Even if you get eight hours of sleep, you still wake up exhausted (Prof Note: Not really though eight hours is a bit of a stretch for me); (28) Your opinions have more gravitas (Prof Note: I notice I express my opinions much more infrequently (but for here on the list-serve).; (29) You trade the bikini for more conservative digs; (30) You start forgetting things more often (Prof Note: Absolutely though I often wonder if it is that I have so many more things to consider…write lists!); (31) Your lower back is kind of a jerk; (32) Laugh lines and crow’s feet are charming; (33) You no longer have to pretend like you know something; (34) Public speaking doesn’t feel so much like torture; (35) Gravity is no longer your friend; (36) Everybody in their 20s looks like they’re ten; (37) You kinda wish you had taken more racy selfies when you were younger; (38) You find the right balance between work and life (Prof Note: I would say, at least for me, one finds the best type of work that is life.  So many hours are spent at “work” that it is essential to be something one loves); (39) Reading the fine print is dang near impossible (Prof Note: Last month I had my vision checked and new reading glasses.  It was a miracle, I can now see again and have started reading books again, i.e. not just on readers where I can blow up font to 100); (40) You’re not susceptible to peer pressure anymore (Prof Note: In truth, peer pressure was never something that guided my actions)

4 September 2018

 

Comment from List-serve participation (w/ permission): Viewing a home for sale.

 

The neighborhood!  Loved your earlier recommendation to check it out during off-times – like late at night during the work week.

Purchased my home when the community was new and thriving.  Everything was perfect. Now, not so much.  The neighborhood is a hot mess of an abandoned property, renters who don’t take care of anything because they can’t or don’t have/want to, drug-addicted family (told to me personally, not just conjecture) with 8+ children who think screaming outside the home at all hours is normal., people with an extraordinary amount of junk in their backyard…… If I was selling my house, I probably wouldn’t mention any of these things.  Why would I?  And I’m not sure any potential buyer would notice it.  They’d be too busy looking at the kitchen cabinets or the garage.  The neighborhood is extremely important!

 

Question: According to MSN: Health & Fitness, what 20 things should be packed in a first-aid kit?

 

Brazil mourns lost treasures after museum blaze – Pg. 3

–          Among the millions of items on display were the fossil of the first known Brazilian woman, known as Luzia; Egyptian mummies and Etruscan vases; imperial archives; and native Indian artefacts.  It was to Brazil what the British Museum is to the UK or the Smithsonian to the US

–          The government costs as much to run a developed country, without delivering the same quality of services in education, security and health

–          The failing public services, corruption and slow economic recovery are fueling the rise of political radicalism, …

–          The museum was established 200 years ago by King Dom Joao VI.  The collection, which was partly assembled by the Brazilian royal family, included an extensive dinosaur fossil exhibit

–          (Prof Note: Such a loss to the global community)

 

Technology – Pg. 7

–          …board game Go, …enthralled by the 2016 contest between the world’s top player and a computer – a milestone in the history of artificial intelligence

–          People are limited in the range of possibilities they can perceive and analyze, forcing them to think inside “boxes”….

–          Humans rely on a mix of experience and intuition when tackling a problem too complex for them to analyze completely…

–          Quantum machines, which tap into the weirdness of quantum mechanics – a branch of physics that deals with the behavior of sub-atomic particles – are a long-held dream in the tech world.  By harnessing properties that extend beyond the limits of classical Newtonian physics, they hold the promise of exponential gains in computing power

–          Quantum machines are particularly well suited to certain types of probabilistic algorithms, …calculations that don’t proceed through a logical sequence of steps, like those carried out by today’s so-called classical computers, but instead rely on a certain element of chance to alight on the best result

–          A third area of focus involves complex optimization problems that have too many variables for today’s computers

 

NJ state fund feels heat over Toys R Us – Pg. 12

–          At a meeting this month, ex-workers plan to urge state officials to reconsider New Jersey’s relationship with Solus Alternative Asset Management if the hedge fund fails to provide hardship money for workers who lost their jobs

–          Solus, which has managed $300m for the New Jersey State Investment Council since 2014, was among creditors that forced Toys R Us into liquidation.  That fell hard on New Jersey, leading to 1,000 job losses at the chain’s HQ in the state and hundreds more at a nearby distribution centre and 25 stores

–          When Toys R Us filed for bankruptcy in September 2017, Solus was among creditors that provided “debtor-in-possession” financing, allowing the retailer to run while executives sought a buys (Prof Note: DiP financing is a super-senior form of debt, i.e. Solus has minimal risk or not receiving the funds back)

–          (Prof Note: This is huge, in my opinion.  My opinion is still being formed on this issue re: worker’s rights.)

 

Answer: (1) Hand sanitizer; (2) Latex-free gloves; (3) Nonstick adhesive pads; (4) Gauze pads; (5) Assorted self-stick bandages; (6) Butterfly Closures; (7) Cloth tape; (8) Self-adhesive gauze; (9) Irrigation syringe; (10) Antiseptic; (11) Antibiotic ointment; (12) Itch reliever; (13) Instant cold compress; (14) Digital thermometer; (15) OTC pain relievers; (16) Oral Antihistamines; (17) Stomach meds; (18) Scissors; (19) Tweezers; (20) Cotton scarf