It's time to Break It Down!
With apologies to Gil Scott-Heron, by all appearances, in the 21st Century, “The Revolution Will Be Televised,” and re-aired on a frequent basis…in different locations. Tunisia and Egypt are headliners for this discussion of course, since their leaders, Zine El Abidine Ben Ali, and Hosni Mubarak, respectively, have actually been deposed. Libya and strongman dictator Muammar Gaddafi are on deck, having experienced several days of unrest. For his part, Gaddafi has announced, defiantly, he is not leaving, and also ominously, that he will be a martyr. In issuing a statement clarifying his intentions, he said:
“I am a fighter, a revolutionary from tents ... I will die as a martyr at the end,' he said, vowing to fight 'to my last drop of blood.”
Read more: http://www.dailymail.co.uk/news/article-1358972/Libya-protests-Gaddafi-blames-world-leaders-violence-rambling-TV-address.html#ixzz1El80uIaW
But while these three nations may be front and center on the Revolution Watch Meter, at least 10 other Middle Eastern countries are experiencing significant unrest, including:
• Algeria
• Bahrain
• Iran
• Iraq
• Jordan
• Morocco
• Saudi Arabia
• Sudan
• Syria
• Yemen
There is a clear and present connect-the-dots chain reaction afoot in the Middle East. Civil unrest is both palpable and spreading through the region. This new Middle East Democratization Movement has caught the United States flat-footed, and directly relates to a number of pre-existing and strategically important relationships. Many observers put forth negative critiques on President Obama’s responses to the crisis in Egypt. The POTUS seemed to vacillate in the early stages of the confrontation, first assuming a stance supportive of Mr. Mubarak, a long-time U.S. ally. He would later pivot, and reframe his message to offer support for the protesters, while encouraging President Mubarak to resign.
Did he realign his position quickly and seamlessly enough to maintain a high-level alliance with what will be a new Egyptian Regime? Or was his adaptation slow; too little, too late?
The Middle East is the home of the Organization of Petroleum Exporting Countries, familiarly known as OPEC. Given our reliance on fossil fuels, America is deeply invested in the stability of the Region. As a nation, we are committed to taking whatever steps may be necessary to ensure that key oil producing and exporting nations work collaboratively with the United States keep the price of oil from skyrocketing.
In that regard, the U.S. sits in a precarious position. With a great deal at stake, America must discern how to artfully circumnavigate the discord gripping the Middle East, which includes Western Asia and Northern Africa, while neither abandoning historic allies, nor appearing to influence the outcome of the numerous nationalistic internal debates.
Briefly, in Libya, Muammar Gaddafi has ruled for 41 years, since a 1969 coup. He is the longest serving of all current non-royal leaders, and the longest–serving ruler of Libya since Tripoli (which would become known as Libya) became a member of the Ottoman Empire in 1551. His rein may be in jeopardy however. There have been reports of widespread carnage and killing of protesters. As the violence against citizens continues to escalate, several top-level government aides have resigned, at least two fighter pilots have sought asylum in Malta, and one cleric has urged someone to shoot Gaddafi, and end the scourge.
Conflicting reports have emerged regarding whether Gaddafi has fled Tripoli, Currently the name of the Libyan Capital. In response to reports that he had, The Colonel issued a statement of denial, saying, “I have not fled Libya.” The Libyan leader, who has been accorded honorifics, “Guide of the First of September Great Revolution of the Socialist People's Libyan Arab Jamahiriya" and ironically, "Leader and Guide of the Revolution," castigated international news channels for telecasting inaccurate news about Libya.
Presumably, Gaddafi never met Gil Scott-Heron, though he may very well pine for the TV-free revolution Scott-Heron described just a year after Gaddafi took over in Libya. Mr. Scott-Heron’s 1970 advisory, "The Revolution Will Not Be Televised," applied to the Black Liberation Movement of the ‘60’s. As he has described it, in that period, the seeds of revolution were born in the minds of the patriots who conceived the pathway to freedom for a group of people from whom that precious commodity had been systematically denied. In that light, their ruminations avoided the white-hot glare of the Klieg lights.
But let’s just say things are different in the 21st Century. Forty-plus years since Scott-Heron's famous admonition, in the here and now, we are in the age of the WorldWideWeb, Twitter, Facebook, MySpace and other Social Networking portals. In the texting era, the world of CNN, and the epoch of the explosion of global media outlets, Gaddafi and the rest of us can count on it: the revolution will be trending and tweeted on Twitter, posted on Facebook and MySpace, texted on BlackBerry and iPhones, captured on the WorldWideWeb and the Blogosphere, and yes America, “The Revolution Will Be Televised!”
I’m done; holla back!
Read my blog anytime by clicking the link: http://thesphinxofcharlotte.blogspot.com/. A new post is published each Wednesday. For more detailed information on a variety of aspects relating to this post, consult the links below:
http://en.wikipedia.org/wiki/Gil_Scott-Heron
http://www.youtube.com/watch?v=kZvWt29OG0s&feature=fvwrel
http://www.youtube.com/watch?v=qGaoXAwl9kw&feature=related
http://www.youtube.com/watch?v=rGaRtqrlGy8
http://www.youtube.com/watch?v=XaD-FKIfYgk
http://www.truth-out.org/unrest-algeria-put-down-police67691
http://www.guardian.co.uk/world/interactive/2011/feb/17/arab-world-protests-bahrain-map
http://www.nytimes.com/2011/02/16/world/middleeast/16diplomacy.html
http://healingiraq.blogspot.com/2011/02/unrest-in-iraq.html
http://www.nytimes.com/2011/02/05/world/middleeast/05jordan.html
http://www.ibtimes.com/articles/114344/20110220/morocco.htm
http://www.freerepublic.com/focus/news/2665220/posts
http://www.bbc.co.uk/news/world-africa-12320534
http://signalfire.org/?p=6844
http://www.washingtonpost.com/wp-dyn/content/article/2011/01/27/AR2011012702082.html
http://www.businessweek.com/news/2011-01-15/ben-ali-s-tunisian-ouster-reverberates-through-middle-east.html
http://en.wikipedia.org/wiki/Klieg_light
http://en.wikipedia.org/wiki/List_of_social_networking_websites
http://en.wikipedia.org/wiki/Muammar_al-Gaddafi
http://uk.news.yahoo.com/5/20110221/twl-libya-violent-protests-paralyse-trip-3fd0ae9.html
http://en.wikipedia.org/wiki/Zine_El_Abidine_Ben_Ali
http://en.wikipedia.org/wiki/Hosni_Mubarak
Wednesday, February 23, 2011
Wednesday, February 16, 2011
The Beam In Our Own Eye
It's time to Break It Down!
I have been asked a number of times whether I will write about the recent turmoil in Egypt?
The short answer is I don’t know. The clash between the people of Egypt and the, by all accounts, ruthlessly oppressive 30-year Regime of President Hosni Mubarak, which ended February 11th, after 18 days of sometimes violent protests, was headline news here in America and around the world. Moreover, the Egyptian military’s decision to invoke martial law until elections are held in September ensures that Egypt will be an important story for the foreseeable future. With that said, “It could happen; but not today!”
The story that piqued my interest involves the Mississippi Division of Sons of Confederate Veterans and its efforts to persuade the Mississippi state legislature to enact a proposal to issue a license plate honoring Confederate General Nathan Bedford Forrest. The General, infamous in some circles, was also alleged to be a founder and first Grand Wizard of the Ku Klux Klan. Known as a brilliant military strategist, Forrest is also cited as having led, or at least with condoning the Massacre at Fort Pillow, April 12 and 13, 1864. Most accounts submit that after an intense battle, the Union army surrendered, which left Rebel soldiers in complete and unchallenged control of the Fort. It is at that point the cold reality of war escalated from merely brutal to savage.
Fort Pillow was located on the Mississippi River, about 40 miles from Memphis, Tennessee. The Union soldiers manning the Fort consisted of 295 white troops, and 262 “Colored” troops. General Forrest attacked the Fort with a cavalry division of about 2,500 men. While the particulars are still subject to debate, the version most authorities support is that General Forrest and his Rebel troops slaughtered the remaining Union soldiers once they surrendered, dropped their weapons, and could no longer offer armed resistance. Nearly half of Union forces were blacks who were deemed runaway slaves, but there was no apparent bonus for being a white Union soldier. As one surviving Union army soldier, already badly wounded, reported, he asked a Rebel soldier who was firing at him to spare his life.
“No: damn you! You fight with niggers!”
The Rebel commenced to shoot him two more times.
General Forrest, a native Tennessean, built quite a legacy. It is understandable why some Americans would want to honor him. His litany of accolades includes:
• Confederate General
• Brilliant military strategist and tactician
• Founder and Original Grand Wizard, Ku Klux Klan
• Slave trader and owner
• Real Estate investor
• Wealthy planter (no doubt built upon the highly profitable fruits of his very low cost/therefore immensely lucrative Slaving business)
• Self-educated
• One of the few men in either of the Civil War armies to enlist as a private and be promoted to General
Mississippi gave us Trent Lott, who not too many years ago, lamented our nation’s failure to heed the segregationist message of Strom Thurmond. It is also the state where Haley Barbour, Mississippi’s 63rd Governor, noted, within the last 6 months, race relations in the South was not such a big deal when he was growing up. So, is it any surprise really, that in its efforts to commemorate the 150th Anniversary of the Civil War, which it refers to as “The War Between The States,” the Mississippi Division of the Sons of Confederate Veterans has chosen a man who merits cult status by white separatists, white nationalists, and segregationists everywhere?
I know a few Mississippians, some of whom would flatly reject this proposal; and who would say so. I do not know Governor Barbour, but apparently, he does not fall into that category. He has found it inconsistent with his way of doing things to repudiate this initiative. The Governor is listed by numerous observers as a prospective candidate for the 2012 GOP Nomination for President. Already it seems he is devising a uniquely telling line of campaign strategy. No doubt his would-be supporters are taking note. Are you?
Although he would not denounce the initiative to promote a license plate for General Forrest, he did predict the measure would never pass the Mississippi legislature. Whether that is his earnest opinion, or simply a coded rallying cry for those who support the idea is anyone’s guess.
Since I am not from Mississippi, and do not expect to live there in the future, I do not anticipate dwelling on this matter. However, as long as we are content to invest our collective righteous indignation in concern, dismay and disgust about the events that unfold in other nations around the globe…and I do that as much as the next person, it is fair to say I believe, lest we aim to be hypocrites, we should endeavor to focus on removing "The Beam From Our Own Eye” before we fixate on the mote in someone else’s. This initiative is the sort of thing that makes it completely understandable if those who study our culture wonder, "Is this yet another shining manifestation of that halcyon, but elusive concept, American Exceptionalism? Hope not; I’m just say’n!
I’m done; y’all holla back now!
Read my blog anytime by clicking the link: http://thesphinxofcharlotte.blogspot.com. A new post is published each Wednesday. For more detailed information on a variety of aspects relating to this post, consult the links below:
http://en.wikipedia.org/wiki/Hosni_Mubarak
http://en.wikipedia.org/wiki/Nathan_Bedford_Forrest
http://en.wikipedia.org/wiki/Haley_Barbour
http://www.scv.org/
http://www.huffingtonpost.com/burns-strider/license-plates-heritage-a_b_823825.html
http://www.gazettenet.com/2011/02/11/trouble-stirs-miss-effort-honor-kkk-leader
http://www.theatlantic.com/politics/archive/2011/02/will-haley-barbour-condemn-effort-to-honor-kkk-founder/71235/
http://michaelbenjamin2012.wordpress.com/2011/02/16/state-of-mississippi-to-honor-confederate-general-and-kkk-founder/
http://jonathanturley.org/2011/02/13/mississippi-sons-of-confederate-veterans-propose-license-plate-to-honor-civil-war-general-who-was-once-a-member-of-the-ku-klux-klan/
http://news.yahoo.com/s/ap/20110210/ap_on_re_us/us_confederate_license_plates
http://www.twincities.com/ci_17395242?nclick_check=1
http://www.myfoxatlanta.com/dpp/news/miss-gov-wont-denounce-confederate-license-plate-021511
http://www2.wnct.com/news/2011/feb/15/us-gov-wont-denounce-confederate-license-plate-ar-786509/
http://www.ledger-enquirer.com/2011/02/15/1461517/barbour-wont-denounce-confederate.html
http://www.coax.net/people/lwf/CW_FP.HTM
http://www.civilwarhome.com/ftpillow.htm
http://en.wikipedia.org/wiki/Trent_Lott
http://en.wikipedia.org/wiki/Strom_Thurmond
I have been asked a number of times whether I will write about the recent turmoil in Egypt?
The short answer is I don’t know. The clash between the people of Egypt and the, by all accounts, ruthlessly oppressive 30-year Regime of President Hosni Mubarak, which ended February 11th, after 18 days of sometimes violent protests, was headline news here in America and around the world. Moreover, the Egyptian military’s decision to invoke martial law until elections are held in September ensures that Egypt will be an important story for the foreseeable future. With that said, “It could happen; but not today!”
The story that piqued my interest involves the Mississippi Division of Sons of Confederate Veterans and its efforts to persuade the Mississippi state legislature to enact a proposal to issue a license plate honoring Confederate General Nathan Bedford Forrest. The General, infamous in some circles, was also alleged to be a founder and first Grand Wizard of the Ku Klux Klan. Known as a brilliant military strategist, Forrest is also cited as having led, or at least with condoning the Massacre at Fort Pillow, April 12 and 13, 1864. Most accounts submit that after an intense battle, the Union army surrendered, which left Rebel soldiers in complete and unchallenged control of the Fort. It is at that point the cold reality of war escalated from merely brutal to savage.
Fort Pillow was located on the Mississippi River, about 40 miles from Memphis, Tennessee. The Union soldiers manning the Fort consisted of 295 white troops, and 262 “Colored” troops. General Forrest attacked the Fort with a cavalry division of about 2,500 men. While the particulars are still subject to debate, the version most authorities support is that General Forrest and his Rebel troops slaughtered the remaining Union soldiers once they surrendered, dropped their weapons, and could no longer offer armed resistance. Nearly half of Union forces were blacks who were deemed runaway slaves, but there was no apparent bonus for being a white Union soldier. As one surviving Union army soldier, already badly wounded, reported, he asked a Rebel soldier who was firing at him to spare his life.
“No: damn you! You fight with niggers!”
The Rebel commenced to shoot him two more times.
General Forrest, a native Tennessean, built quite a legacy. It is understandable why some Americans would want to honor him. His litany of accolades includes:
• Confederate General
• Brilliant military strategist and tactician
• Founder and Original Grand Wizard, Ku Klux Klan
• Slave trader and owner
• Real Estate investor
• Wealthy planter (no doubt built upon the highly profitable fruits of his very low cost/therefore immensely lucrative Slaving business)
• Self-educated
• One of the few men in either of the Civil War armies to enlist as a private and be promoted to General
Mississippi gave us Trent Lott, who not too many years ago, lamented our nation’s failure to heed the segregationist message of Strom Thurmond. It is also the state where Haley Barbour, Mississippi’s 63rd Governor, noted, within the last 6 months, race relations in the South was not such a big deal when he was growing up. So, is it any surprise really, that in its efforts to commemorate the 150th Anniversary of the Civil War, which it refers to as “The War Between The States,” the Mississippi Division of the Sons of Confederate Veterans has chosen a man who merits cult status by white separatists, white nationalists, and segregationists everywhere?
I know a few Mississippians, some of whom would flatly reject this proposal; and who would say so. I do not know Governor Barbour, but apparently, he does not fall into that category. He has found it inconsistent with his way of doing things to repudiate this initiative. The Governor is listed by numerous observers as a prospective candidate for the 2012 GOP Nomination for President. Already it seems he is devising a uniquely telling line of campaign strategy. No doubt his would-be supporters are taking note. Are you?
Although he would not denounce the initiative to promote a license plate for General Forrest, he did predict the measure would never pass the Mississippi legislature. Whether that is his earnest opinion, or simply a coded rallying cry for those who support the idea is anyone’s guess.
Since I am not from Mississippi, and do not expect to live there in the future, I do not anticipate dwelling on this matter. However, as long as we are content to invest our collective righteous indignation in concern, dismay and disgust about the events that unfold in other nations around the globe…and I do that as much as the next person, it is fair to say I believe, lest we aim to be hypocrites, we should endeavor to focus on removing "The Beam From Our Own Eye” before we fixate on the mote in someone else’s. This initiative is the sort of thing that makes it completely understandable if those who study our culture wonder, "Is this yet another shining manifestation of that halcyon, but elusive concept, American Exceptionalism? Hope not; I’m just say’n!
I’m done; y’all holla back now!
Read my blog anytime by clicking the link: http://thesphinxofcharlotte.blogspot.com. A new post is published each Wednesday. For more detailed information on a variety of aspects relating to this post, consult the links below:
http://en.wikipedia.org/wiki/Hosni_Mubarak
http://en.wikipedia.org/wiki/Nathan_Bedford_Forrest
http://en.wikipedia.org/wiki/Haley_Barbour
http://www.scv.org/
http://www.huffingtonpost.com/burns-strider/license-plates-heritage-a_b_823825.html
http://www.gazettenet.com/2011/02/11/trouble-stirs-miss-effort-honor-kkk-leader
http://www.theatlantic.com/politics/archive/2011/02/will-haley-barbour-condemn-effort-to-honor-kkk-founder/71235/
http://michaelbenjamin2012.wordpress.com/2011/02/16/state-of-mississippi-to-honor-confederate-general-and-kkk-founder/
http://jonathanturley.org/2011/02/13/mississippi-sons-of-confederate-veterans-propose-license-plate-to-honor-civil-war-general-who-was-once-a-member-of-the-ku-klux-klan/
http://news.yahoo.com/s/ap/20110210/ap_on_re_us/us_confederate_license_plates
http://www.twincities.com/ci_17395242?nclick_check=1
http://www.myfoxatlanta.com/dpp/news/miss-gov-wont-denounce-confederate-license-plate-021511
http://www2.wnct.com/news/2011/feb/15/us-gov-wont-denounce-confederate-license-plate-ar-786509/
http://www.ledger-enquirer.com/2011/02/15/1461517/barbour-wont-denounce-confederate.html
http://www.coax.net/people/lwf/CW_FP.HTM
http://www.civilwarhome.com/ftpillow.htm
http://en.wikipedia.org/wiki/Trent_Lott
http://en.wikipedia.org/wiki/Strom_Thurmond
Wednesday, February 9, 2011
Why Budget and Save? Because There Are No Money Fairies!
It's time to Break It Down!
A few months ago a cousin asked me to blog about the value of budgeting, and its relation to wealth building. While it has taken me three months to get around to it, the topic never fell off my radar. Budgeting and saving are naturally interrelated and should be though of in tandem.
First off, I must begin with the unvarnished truth. For most people, saving alone, no matter how expertly or disciplined, will not create what we have come to think of in this Country as wealth. Let’s be clear, neither Bill Gates, nor Warren Buffett attained their spot in the Multi-Billionaires Club on the power of compound interest. For that matter, neither Henry Louis Gates, nor Jimmy Buffett landed where they are, fueled by interest income either.
But, let me not digress. This is not a discussion about the enterprising nature of the world’s wealthiest, most well-educated, or most musically gifted men; rather it is a brief, direct and simple advisory about steps almost anyone can take to improve their financial prospects for the future. I write, not from the perspective of a financial Guru, or even someone who claims to have it all figured out. These are just practical, common-sense observations and suggestions that have been cultivated by other sources, and that I believe warrant sharing.
America may be the Land of the free, and the home of the brave, but it is not an oasis of free-flowing milk and honey (emphasis on free), or even Universal Health Care. To wit, if you plan to eat regularly, and you want to be prepared for unforeseen catastrophes, be they health-related, or other-sourced, you may need to have budgeted and saved a few coins. It has been said that budgeting is a roadmap. An effective budget, which includes a disciplined savings plan, can ensure that you are able to better manage your expenses, both daily, and long-term.
It should be noted, that in order to devise a comprehensive budget, one must have a handle on regular, recurring expenses. One of the most frequent aversions to instituting and sticking to a budget is it is thought of as constraining confining, and constricting. Quite simply, budgets are often viewed as “Impediments that prevent me from acquiring that thing I want; whatever it might be.” This really is a case of needing an attitude adjustment…or perhaps more appropriately, re-thinking the matter. A more apropos reckoning about budgets is they are “Tools that enable me to acquire that thing I want…when I can afford it.”
That simple recasting of life’s panorama, changes ones outlook, instantly, from a powerless, woe-is-me victim, to, an empowered, in-control, master of your fate and Captain of your soul, man or woman. As New Age as it sounds, that simple transmutation of outlook reshapes both how one views the world, as well as how one is viewed by the world.
Did you ever contemplate why it is that people with money can almost always get a loan, while those who don’t find getting a loan a challenging endeavor? Somewhere in the hierarchy of Capitalism and Free Enterprise, a person charged with the authority/responsibility to make a lending decision is reviewing two loan applications and concluding:
• Person A has demonstrated they know how to budget, save, and manage money. If I approve this loan, based on this person’s history, my investment is likely to be safe, and will probably be returned to me with interest. Therefore, I will approve this loan request.
• Person B has not shown that they know how to manage money. It is clear they need a loan. However, even though I am authorized to approve their loan request, I am also responsible if they default. Therefore, I will not take that risk.
In reality, there is probably more to it than that; but not much more, most of the time, anyway. It behooves you to be Person A, rather than Person B; not just because you would be more likely to get a loan. You may also be less likely to need one in the first place. God bless the child who has his own.
It should be reasonably clear by now why it is important to devise a budget and initiate a savings plan. What could be more important? Sticking to the budget you devised, and the plan you initiated! The only way you reach you desired goals is to maintain, steadfastly, your budget and savings plan. Of course there will be temptations and emergencies. There may even be setbacks resulting from falling off the savings plan wagon. But none of these issues has to be completely disruptive.
The key to winning the ultimate prize, which should be debt-free living, or at least financial independence, is to never lose sight of your budget and savings planning commitment. Emergencies happen; deal with them. Beat back temptation, but when you decide you must yield, try and minimize the damage. In both cases, continue to save some, even if you are unable to set aside your full commitment. This is definitely a case where some is better than none. If you fall off the wagon and stop saving altogether, set a time in the future (the sooner the better) to re-start your plan. Finally, in all three cases, treat the amount you fell behind by as a loan, and make every effort to repay it. After all, you will be re-paying yourself!
The world is a very different place than it was just a few short decades ago. Generations X and Y are better educated, more mobile, and less interested in working on one job, or even in the same career for decades (which is good because jobs are changing more rapidly...or being eliminated). There are many consequences to this dynamic of change. One of the most critical, as it relates to the erstwhile Golden Years of Gen X and Y is the concept of pensions will likely be a thing of the past. They will be like Edsels (definitely a Boomer reference), or typewriters, or home-based telephone landlines; relics all. Pensions will be found only in reference books, or on whatever e-intelligence platform that replaces Google.
The offshoot of that development is it will be even more important to develop a passion and commitment for budgeting and saving. The importance of this endeavor as a stratagem to help prepare for the future cannot be over-emphasized. A catch phrase I heard throughout my career was, “It’s never too late to start saving.” While that notion may have had some truth to it, I would like to revise that sentiment for 21st Century Generations. My advice to you is, “It’s never too early to start saving.” You can bank on that!
So, “Why Budget and Save? Because There Are No Money Fairies!” I’m done; holla back!
Read my blog anytime by clicking the link: http://thesphinxofcharlotte.blogspot.com. A new post is published each Wednesday. For more detailed information on a variety of aspects relating to this post, consult the links below:
http://keep-your-cash.com/budgeting-is-your-roadmap-to-achieve-a-debt-free-life/
http://keep-your-cash.com/the-importance-of-budgeting/
http://keep-your-cash.com/how-to-stick-to-budget/
http://keep-your-cash.com/the-personal-daily-budget/
http://save-money-tips.net/
http://keep-your-cash.com/stick-to-it-to-save/
http://keep-your-cash.com/let-the-bad-press-on-the-economy-work-in-your-favor/
http://keep-your-cash.com/create-a-budget-%e2%80%93-keep-your-financial-house-in-order/
http://keep-your-cash.com/tips-for-buying-a-new-car/
http://keep-your-cash.com/budgeting-on-an-unknown-income/
http://keep-your-cash.com/budgeting-myths-and-reality/
http://keep-your-cash.com/top-six-factors-your-budgeting-success-depends-on/
http://keep-your-cash.com/tips-to-set-up-a-successful-budget/
http://keep-your-cash.com/four-steps-to-create-a-guilt-free-budget/
http://keep-your-cash.com/dont-waste-money-gambling/
A few months ago a cousin asked me to blog about the value of budgeting, and its relation to wealth building. While it has taken me three months to get around to it, the topic never fell off my radar. Budgeting and saving are naturally interrelated and should be though of in tandem.
First off, I must begin with the unvarnished truth. For most people, saving alone, no matter how expertly or disciplined, will not create what we have come to think of in this Country as wealth. Let’s be clear, neither Bill Gates, nor Warren Buffett attained their spot in the Multi-Billionaires Club on the power of compound interest. For that matter, neither Henry Louis Gates, nor Jimmy Buffett landed where they are, fueled by interest income either.
But, let me not digress. This is not a discussion about the enterprising nature of the world’s wealthiest, most well-educated, or most musically gifted men; rather it is a brief, direct and simple advisory about steps almost anyone can take to improve their financial prospects for the future. I write, not from the perspective of a financial Guru, or even someone who claims to have it all figured out. These are just practical, common-sense observations and suggestions that have been cultivated by other sources, and that I believe warrant sharing.
America may be the Land of the free, and the home of the brave, but it is not an oasis of free-flowing milk and honey (emphasis on free), or even Universal Health Care. To wit, if you plan to eat regularly, and you want to be prepared for unforeseen catastrophes, be they health-related, or other-sourced, you may need to have budgeted and saved a few coins. It has been said that budgeting is a roadmap. An effective budget, which includes a disciplined savings plan, can ensure that you are able to better manage your expenses, both daily, and long-term.
It should be noted, that in order to devise a comprehensive budget, one must have a handle on regular, recurring expenses. One of the most frequent aversions to instituting and sticking to a budget is it is thought of as constraining confining, and constricting. Quite simply, budgets are often viewed as “Impediments that prevent me from acquiring that thing I want; whatever it might be.” This really is a case of needing an attitude adjustment…or perhaps more appropriately, re-thinking the matter. A more apropos reckoning about budgets is they are “Tools that enable me to acquire that thing I want…when I can afford it.”
That simple recasting of life’s panorama, changes ones outlook, instantly, from a powerless, woe-is-me victim, to, an empowered, in-control, master of your fate and Captain of your soul, man or woman. As New Age as it sounds, that simple transmutation of outlook reshapes both how one views the world, as well as how one is viewed by the world.
Did you ever contemplate why it is that people with money can almost always get a loan, while those who don’t find getting a loan a challenging endeavor? Somewhere in the hierarchy of Capitalism and Free Enterprise, a person charged with the authority/responsibility to make a lending decision is reviewing two loan applications and concluding:
• Person A has demonstrated they know how to budget, save, and manage money. If I approve this loan, based on this person’s history, my investment is likely to be safe, and will probably be returned to me with interest. Therefore, I will approve this loan request.
• Person B has not shown that they know how to manage money. It is clear they need a loan. However, even though I am authorized to approve their loan request, I am also responsible if they default. Therefore, I will not take that risk.
In reality, there is probably more to it than that; but not much more, most of the time, anyway. It behooves you to be Person A, rather than Person B; not just because you would be more likely to get a loan. You may also be less likely to need one in the first place. God bless the child who has his own.
It should be reasonably clear by now why it is important to devise a budget and initiate a savings plan. What could be more important? Sticking to the budget you devised, and the plan you initiated! The only way you reach you desired goals is to maintain, steadfastly, your budget and savings plan. Of course there will be temptations and emergencies. There may even be setbacks resulting from falling off the savings plan wagon. But none of these issues has to be completely disruptive.
The key to winning the ultimate prize, which should be debt-free living, or at least financial independence, is to never lose sight of your budget and savings planning commitment. Emergencies happen; deal with them. Beat back temptation, but when you decide you must yield, try and minimize the damage. In both cases, continue to save some, even if you are unable to set aside your full commitment. This is definitely a case where some is better than none. If you fall off the wagon and stop saving altogether, set a time in the future (the sooner the better) to re-start your plan. Finally, in all three cases, treat the amount you fell behind by as a loan, and make every effort to repay it. After all, you will be re-paying yourself!
The world is a very different place than it was just a few short decades ago. Generations X and Y are better educated, more mobile, and less interested in working on one job, or even in the same career for decades (which is good because jobs are changing more rapidly...or being eliminated). There are many consequences to this dynamic of change. One of the most critical, as it relates to the erstwhile Golden Years of Gen X and Y is the concept of pensions will likely be a thing of the past. They will be like Edsels (definitely a Boomer reference), or typewriters, or home-based telephone landlines; relics all. Pensions will be found only in reference books, or on whatever e-intelligence platform that replaces Google.
The offshoot of that development is it will be even more important to develop a passion and commitment for budgeting and saving. The importance of this endeavor as a stratagem to help prepare for the future cannot be over-emphasized. A catch phrase I heard throughout my career was, “It’s never too late to start saving.” While that notion may have had some truth to it, I would like to revise that sentiment for 21st Century Generations. My advice to you is, “It’s never too early to start saving.” You can bank on that!
So, “Why Budget and Save? Because There Are No Money Fairies!” I’m done; holla back!
Read my blog anytime by clicking the link: http://thesphinxofcharlotte.blogspot.com. A new post is published each Wednesday. For more detailed information on a variety of aspects relating to this post, consult the links below:
http://keep-your-cash.com/budgeting-is-your-roadmap-to-achieve-a-debt-free-life/
http://keep-your-cash.com/the-importance-of-budgeting/
http://keep-your-cash.com/how-to-stick-to-budget/
http://keep-your-cash.com/the-personal-daily-budget/
http://save-money-tips.net/
http://keep-your-cash.com/stick-to-it-to-save/
http://keep-your-cash.com/let-the-bad-press-on-the-economy-work-in-your-favor/
http://keep-your-cash.com/create-a-budget-%e2%80%93-keep-your-financial-house-in-order/
http://keep-your-cash.com/tips-for-buying-a-new-car/
http://keep-your-cash.com/budgeting-on-an-unknown-income/
http://keep-your-cash.com/budgeting-myths-and-reality/
http://keep-your-cash.com/top-six-factors-your-budgeting-success-depends-on/
http://keep-your-cash.com/tips-to-set-up-a-successful-budget/
http://keep-your-cash.com/four-steps-to-create-a-guilt-free-budget/
http://keep-your-cash.com/dont-waste-money-gambling/
Wednesday, February 2, 2011
And The Winner Is...Charlotte!
It's time to Break It Down!
Roughly nineteen months, or about five hundred eighty days; that’s how long Charlotte and its boosters have to prepare to host the 2012 Democratic National Convention, the week of September 3, 2012 (Labor Day Week). Tim Kaine, Democratic National Committee (DNC) Chairman, and First Lady Michelle Obama made the announcement yesterday. Congratulations to Charlotte Mayor, Anthony Foxx and Duke Energy CEO, Jim Rogers, who Co-Chaired the City’s winning bid. The other three Finalists were Minneapolis, Cleveland, and St. Louis. Charlotte and St. Louis had been rumored to be the final pair for at least a couple of weeks.
There is a lot of excitement in and around the city, stemming from what is expected to be an economic boon to the community. Of course there are also detractors of the event. Some question the projected cost tag for putting on the event, which estimates have placed at $40 million. Most of that money will be raised privately, but you wouldn’t glean that if you read some of the feedback in the newspaper. You would also miss the projection that the Convention and related activities are expected to generate $150 million to $200 million in revenue.
Others have expressed more partisan concerns; it is after all a Political Party’s Convention, so there is a cadre of people who are naturally opposed to the convention, its prospective/eventual Nominees, and everything it stands for. That’s politics, American style.
In full disclosure, I should also add that as I read a few of the blogs and reader comments that follow lead stories in the local newspaper, I saw more than a few racially tinged zingers among the negative comments. It is way past time we stopped pretending that kind of thing no longer exits. No need to expand it beyond its rightful proportion, but, that brand of hatred and spitefulness still lives and thrives, and it does so in Charlotte.
Frankly, I view the decision as a huge win for the City and the community at large. For several days, the spotlight will shine on Charlotte, and that light will be not just regional, or even national, but global in its scope and focus. Journalists from around the world will flock to Charlotte to cover the Convention. The President and Vice President of the United States will be here, as will their wives and families. A myriad of other public officials will attend as 30,000 to 35,000 Delegates will conduct and execute the Party’s business, culminating with the Nomination Process, which is expected to result in choosing President Obama and Vice President Biden to seek re-election.
It is difficult to imagine Charlotte has ever had a single event that garnered more attention, nationally and internationally, than the Convention will. The round the clock media attention will elevate the City’s profile and stature, at least for the duration of the event. It is a unique opportunity for the Charlotte community to host and execute a truly World Class event. And, in the classic can-do spirit usually associated with the community, I expect “Our Town” will come through with flying colors.
Even though there will be inter-Party dissonance between now and the Convention, and the Convention is likely to ratchet up the noise to some degree, itself (The GOP Convention convenes in Tampa, August 27, 2012, a week earlier), several prominent local Republicans backed the initiative to bring the Convention to Charlotte. Jim Martin, a former Republican North Carolina Governor, and Richard Vinroot, a previous Charlotte Mayor, both promoted the Convention as good for the community.
They wrote in a Charlotte Observer opinion column, “We are proud Republicans. But we are also proud advocates of Charlotte and North Carolina, and believe that bringing the 2012 Democratic Convention to Charlotte represents an unprecedented economic development opportunity.”
In closing, no thorough discussion of the particulars surrounding the selection of Charlotte for the Convention could omit mention of the strategic impetus for the decision. The fact of the matter is President Obama won the State of North Carolina in 2008. He and Democratic leaders have made a calculated decision to compete for North Carolina and other Southern states in the 2012 Presidential Election. Ultimately, the President’s Southern Strategy factored heavily in the calculus that led the Committee to choose Charlotte. In other words, the votes are in, “And the Winner Is…Charlotte!”
I’m done; holla back!
Read my blog anytime by clicking the link: http://thesphinxofcharlotte.blogspot.com. A new post is published each Wednesday. For more detailed information on a variety of aspects relating to this post, consult the links below:
http://en.wikipedia.org/wiki/2012_Democratic_National_Convention
http://www.charlotteobserver.com/2011/02/01/2027540/charlotte-wins-2012-dem-convention.html
http://charlottein2012.com/2011/02/01/charlotte-to-host-2012-democratic-national-convention/
http://www.indyweek.com/citizen/archives/2011/02/01/its-charlotte-2012-democratic-national-convention-coming-to-nc
http://www.bizjournals.com/triangle/blog/2011/02/reports-dnc-headed-to-charlotte.html
http://www2.independenttribune.com/news/2011/feb/01/charlotte-lands-2012-democratic-national-conventio-ar-744158/
http://www.wcnc.com/news/local/Mayor-relationship-with-President-helped-land-convention-115048139.html
http://www.ksdk.com/news/article/241642/3/Charlotte-lands-2012-DNC
http://my927charlotte.com/national/my927info/charlotte-lands-dnc-2012-convention
http://www.wral.com/news/local/politics/story/9037269/
http://blogs.abcnews.com/thenote/2011/02/democratic-national-convention-2012-to-be-held-in-charlotte-nc.html
http://www.politico.com/news/stories/0211/48588.html
http://en.wikipedia.org/wiki/Barack_Obama
http://en.wikipedia.org/wiki/Tim_Kaine
http://en.wikipedia.org/wiki/Anthony_Foxx
http://www.duke-energy.com/about-us/leaders/jim-rogers.asp
http://www.wbtv.com/Global/story.asp?S=13950892
http://en.wikipedia.org/wiki/Joe_Biden
http://en.wikipedia.org/wiki/Michelle_Obama
http://www.zimbio.com/Malia+Obama/pictures/pro
http://www.baltimoresun.com/topic/politics/sasha-obama-PECLB004381.topic
http://www.wcnc.com/news/local/Charlotte-to-host-2012-Democratic-National-Convention-115011824.html
Roughly nineteen months, or about five hundred eighty days; that’s how long Charlotte and its boosters have to prepare to host the 2012 Democratic National Convention, the week of September 3, 2012 (Labor Day Week). Tim Kaine, Democratic National Committee (DNC) Chairman, and First Lady Michelle Obama made the announcement yesterday. Congratulations to Charlotte Mayor, Anthony Foxx and Duke Energy CEO, Jim Rogers, who Co-Chaired the City’s winning bid. The other three Finalists were Minneapolis, Cleveland, and St. Louis. Charlotte and St. Louis had been rumored to be the final pair for at least a couple of weeks.
There is a lot of excitement in and around the city, stemming from what is expected to be an economic boon to the community. Of course there are also detractors of the event. Some question the projected cost tag for putting on the event, which estimates have placed at $40 million. Most of that money will be raised privately, but you wouldn’t glean that if you read some of the feedback in the newspaper. You would also miss the projection that the Convention and related activities are expected to generate $150 million to $200 million in revenue.
Others have expressed more partisan concerns; it is after all a Political Party’s Convention, so there is a cadre of people who are naturally opposed to the convention, its prospective/eventual Nominees, and everything it stands for. That’s politics, American style.
In full disclosure, I should also add that as I read a few of the blogs and reader comments that follow lead stories in the local newspaper, I saw more than a few racially tinged zingers among the negative comments. It is way past time we stopped pretending that kind of thing no longer exits. No need to expand it beyond its rightful proportion, but, that brand of hatred and spitefulness still lives and thrives, and it does so in Charlotte.
Frankly, I view the decision as a huge win for the City and the community at large. For several days, the spotlight will shine on Charlotte, and that light will be not just regional, or even national, but global in its scope and focus. Journalists from around the world will flock to Charlotte to cover the Convention. The President and Vice President of the United States will be here, as will their wives and families. A myriad of other public officials will attend as 30,000 to 35,000 Delegates will conduct and execute the Party’s business, culminating with the Nomination Process, which is expected to result in choosing President Obama and Vice President Biden to seek re-election.
It is difficult to imagine Charlotte has ever had a single event that garnered more attention, nationally and internationally, than the Convention will. The round the clock media attention will elevate the City’s profile and stature, at least for the duration of the event. It is a unique opportunity for the Charlotte community to host and execute a truly World Class event. And, in the classic can-do spirit usually associated with the community, I expect “Our Town” will come through with flying colors.
Even though there will be inter-Party dissonance between now and the Convention, and the Convention is likely to ratchet up the noise to some degree, itself (The GOP Convention convenes in Tampa, August 27, 2012, a week earlier), several prominent local Republicans backed the initiative to bring the Convention to Charlotte. Jim Martin, a former Republican North Carolina Governor, and Richard Vinroot, a previous Charlotte Mayor, both promoted the Convention as good for the community.
They wrote in a Charlotte Observer opinion column, “We are proud Republicans. But we are also proud advocates of Charlotte and North Carolina, and believe that bringing the 2012 Democratic Convention to Charlotte represents an unprecedented economic development opportunity.”
In closing, no thorough discussion of the particulars surrounding the selection of Charlotte for the Convention could omit mention of the strategic impetus for the decision. The fact of the matter is President Obama won the State of North Carolina in 2008. He and Democratic leaders have made a calculated decision to compete for North Carolina and other Southern states in the 2012 Presidential Election. Ultimately, the President’s Southern Strategy factored heavily in the calculus that led the Committee to choose Charlotte. In other words, the votes are in, “And the Winner Is…Charlotte!”
I’m done; holla back!
Read my blog anytime by clicking the link: http://thesphinxofcharlotte.blogspot.com. A new post is published each Wednesday. For more detailed information on a variety of aspects relating to this post, consult the links below:
http://en.wikipedia.org/wiki/2012_Democratic_National_Convention
http://www.charlotteobserver.com/2011/02/01/2027540/charlotte-wins-2012-dem-convention.html
http://charlottein2012.com/2011/02/01/charlotte-to-host-2012-democratic-national-convention/
http://www.indyweek.com/citizen/archives/2011/02/01/its-charlotte-2012-democratic-national-convention-coming-to-nc
http://www.bizjournals.com/triangle/blog/2011/02/reports-dnc-headed-to-charlotte.html
http://www2.independenttribune.com/news/2011/feb/01/charlotte-lands-2012-democratic-national-conventio-ar-744158/
http://www.wcnc.com/news/local/Mayor-relationship-with-President-helped-land-convention-115048139.html
http://www.ksdk.com/news/article/241642/3/Charlotte-lands-2012-DNC
http://my927charlotte.com/national/my927info/charlotte-lands-dnc-2012-convention
http://www.wral.com/news/local/politics/story/9037269/
http://blogs.abcnews.com/thenote/2011/02/democratic-national-convention-2012-to-be-held-in-charlotte-nc.html
http://www.politico.com/news/stories/0211/48588.html
http://en.wikipedia.org/wiki/Barack_Obama
http://en.wikipedia.org/wiki/Tim_Kaine
http://en.wikipedia.org/wiki/Anthony_Foxx
http://www.duke-energy.com/about-us/leaders/jim-rogers.asp
http://www.wbtv.com/Global/story.asp?S=13950892
http://en.wikipedia.org/wiki/Joe_Biden
http://en.wikipedia.org/wiki/Michelle_Obama
http://www.zimbio.com/Malia+Obama/pictures/pro
http://www.baltimoresun.com/topic/politics/sasha-obama-PECLB004381.topic
http://www.wcnc.com/news/local/Charlotte-to-host-2012-Democratic-National-Convention-115011824.html
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