Jul 26

Quite a few great reads to share with you this week.

Let’s start with Jeff’s post at My Supercharged Life 25 Things Every Father Must Teach His Daughter About Life. I am a sucker for well created lists, and despite not being a financial one, this list will be added to my ongoing List of Lists, as it’s just that good. Jeff starts with “Family is forever. I want her to know that I will always love her mother. Her family will always be here as a complete unit for her to depend upon. I will model the loving marriage I want her to have.” With many people getting divorced I need to make sure my own daughter understands that her parents are in this for the long haul. Of course we may argue, as anyone might, but I’ve told her, “your mom and I have been arguing for 25 year this coming November, and we’re looking forward to 25 more.” Friends argue, as do we, but I never show her disrespect. Jeff’s list continues and it’s good reading for any Father, but especially one with daughters.

Financial Highway offers Frugal Summer BBQ: 7 Money Saving Tips for BBQ which I enjoyed. One tip that attracted some criticism was to have your guests bring the meat. I’m OK with that. If I am doing the cooking, I’ll be busy enough with sidedishes, drinks etc, and not having to foot the whole bill would be great. If I am the guest, I’m happy to bring the main dish but do none of the work. Sounds like a win-win to me.

Zac Bissonnette interviewed Dave Ramsey on WalletPop, and while I have my differences with Dave, overall, I think that people who follow him are better off that those who remain reckless. In this interview, Dave talks about how the recession might be this generation’s depression and how people under 40 haven’t seen a really bad down market. Maybe he forgot the tech bubble of 1999-2001? Either way, I like Zac’s questions and style.

Flexo at Consumerism Commentary asks “Is it Ever Okay to Steal Entertainment?” It’s an interesting spin, and a unique view.

I can’t ignore Nathan Barry’s 100 Things Your Kids May Never Know About. It came just a week after my book discussion of I Love It WhenYou Talk Retro, and given the blog’s title is Geek Dad, this list is a comprehensive list of the things our kids may never see. Betamax tapes, Floppy Discs, and even hard copy (paper) maps are just a few of the tech items that comprise this list. A fun read. How old you are will impact how many things you already don’t know about.

I hope you’re having a great weekend and enjoy these finds.


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Jul 08

Dennis, like you, I believe a recovery is underway. From what I can tell, Q1 was the bottom, and we will see a rolling recovery. You know what that is, but I should tell my readers that’s it’s when the whole economy doesn’t recover at once, some sectors come out of the slump a bit faster than others, so the whole economy takes some time before the recession is declared to be over.

But Dennis, I know that you feel bashed, unrightly so, and people have called you names. But from where I sit, the search Dennis Kneale Idiot yields 35K hits on Google, but the same search with our president’s name yields just under 3 million. And Britney Spears Idiot just under one million. Even Albert Einstein Idiot yields 210K results. I suspect in your case higher numbers mean name recognition, but I plan to do my part and refer to the end of this recession as the “Dennis Kneale Recovery.” Remember, I coined that phrase. Meanwhile, take a breath, anonomous bloggers (me included) can say what they will, but it’s their long term record that builds credibility. Many who took shots at you won’t be blogging by the time NBER declares the recovery. After all, it took a year before they declared the recession had begun. Best wishes to you, Dennis.

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Apr 10

We are now over 28% above the March 9 bottom in the S&P, one of the best run ups since the depression. A bear rally? Maybe, but obviously, all data appears in hindsight, and only when that bottom is well behind us and we are obviously in a growth cycle, will it be clear. On one hand, Lawrence Summers declared the free fall is likely to end in the next few months, but Thomas Lee chief US equity strategist at JP Morgan Chase is predicting an 8 to 10 percent drop from here.
Rates on 30 year mortgages have dropped to a record low 4.61% and it appears that credit is starting to free up. Freddie Mac and Fannie Mae securitized nearly $145B in mortgages in February, a $1.7T annual run rate. That kind of money has to have an impact on the funk we are in. I remain cautious, myself, but guardedly optimistic.


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