Tuesday, December 6, 2011

Is there a correlation..

Today, after work I went to one of my usual food joints to pick up my meal. (Location and names withheld for obvious reasons). Employee behind the counter was giving me hard time for not going there frequently. After the regular banter, he mentioned the he lost his regular job and that fast food job is his only job now. I felt sorry, just before I paid I asked him whether he have a family. "Three beautiful kids and wife, and fortunately she's working". I left the place on a good note.

So it came to one of the topics which we heatedly discuss at work, among close friends. The topic is, If you're poor, is it a wise move to have more kids? Or in other words, why poor people end up with more kids while rich have far too less. I understand that reproductive rights are fundamental and you can't control or mandate couples (married or unmarried) to have kids based on how much money you've at that point of time. (This doesn't apply in China though)

Look around, look beyond our usual suburban life. You can see that most of the people who depend on welfare or food stamps have more than 2 or 3 kids. The poverty in these inner city/urban areas is gut wrenching It's like watching a horror movie in a loop. You can see this at your neighboring Wal-Mart location also. It's tough to say what caused that poverty and which preceded what? The childbirths or the downfall into poverty.

In India it's even worse. There's so much societal pressure to bear more children when you're in right age. No matter how flimsy you income source is and how costly it became to raise a child and educate him or her. "Leave it to the Almighty, he'll take care of all of them."

Meanwhile you see that Upper middle class and rich couples who keep delaying the children. Reasons could be many...careers, timing, uncertainties. So even if they're well educated, nice job to rely on, they consider so many variables before they take that step.

The question I've is, why is this fear not part of reproduction cycles of very poor people. Is it the lack of education, contraceptives, foresight or the overabundance of passion killing the caution. How exactly do you plan to provide for your kids and send'em to school. And is there a correlation between poverty and number of children.

New york Times published a though provoking article Richer People Want Fewer Children in July. The background for that is another freakonomics article The Rich vs Poor Debate: Are Kids Normal or Inferior Goods? I usually take any freakonomics article with pinch of salt.
But data wouldn't lie.

You can see the fertility difference between women in India and USA. The country with highest per capita fertility is Niger. And you see how less the per capita income is. Kids aren't the reason for poverty but people in poverty give birth to more babies.

This is an universal problem not just here in US. But I see this very closely here.

Two weeks back, 60 minutes broadcasted a report about new generation of kids growing up in cars. We just have a new level of poverty below homeless shelters. Two things caught my attention. As the above data proves, the poorer you get, the more kids you've. Family in this video is, single mom with 4 kids.




And then the second family in this video, you can see two kids living in a truck with their dad and their....dog! It's been two days since I watched this, I still can't comprehend why that family still have a dog.

My heart goes out to those kids who're homeless. Particularly that young girl and her brother cleaning up themselves in different gas station bathrooms every day disturbed me a lot. But I can't say the same about the parents. I understand, a single event can change a life and you might end up on a street. But why the pet? Can't you make a discretionary choice of getting rid of pet when you turn homeless.

I don't have a proper closure or conclusion for this post.
My thoughts are unclear and I'm on a thin line between absolute sorrow and anger.

Peace

(Disclaimer: I'm a single male with no kids and I don't intend to have kids in future also. So this post itself might lack that objectivity which you're looking for)

Here's the 60 minutes program link, Hard Times Generation: Families living in cars

Sunday, November 27, 2011

My Christmas Wish

TIME magazine is famous for dumbing down the news coverage and there's no bigger contrarian indicator than their cover page.


Every new Warner Brothers movie gets a cover story, every apple device launch gets one, and if there's dearth of publicist driven stories...there's holy Mary, Jesus to fall back on.

Fine, every magazine does the same thing, wait....there's Housing bubble, what housing bubble?
There's no year-end media circus event which is more idiotic and unimportant than the TIME person of the year. (Excluding TIME 100, that's beyond my intellectual ability). Every President elect will be chosen as TIME person of the year, that's a default. Enemies of US, no matter how much they changed the course of our lives, wouldn't be the person of the year. Osama bin Laden wasn't the person of that year, Rudy Giuliani was. (Of course Stalin and Hitler were exceptions, not quite sure where we stand on Putin though). See the previous person gallery here

As God is my witness (intended to dramatize), here's the list of probable people I wrote for this year, before checking TIME website.

Arab Uprisings
Occupy Wall St
Anonymous
Navy seals
Barack Obama
Grover Norquist
Steve Jobs
Kim Kardashian
Rupert Murdoch

I checked TIME website and they didn't disappoint. Below are the few people who're nominated for this year, and I'm delighted to see Kim on the list

Usually TIME probables can be broadly categorized into these
Obvious picks
Barack Obama
Anonymous
Navy Seal Team 6
1%, 99%
Steve Jobs

Lame picks
Gabriel Giffords (I don't mean to diminish the Congress Woman's shooting, but she's only a victim of a deranged person's shooting)
Kate Middleton (A British woman married to a British prince, 2nd in line to throne)
Dominique Strauss-Kahn (accused of raping a hotel maid, but prosecution dropped the charges)
Charlie Sheen

"Who the F is this again" picks
Recep Tayyip Erdogan (Turkey's PM)
Lionel Messi (Argentina's soccer player)
Ai Weiwei

"Intended to rage readers" picks
Reed Hastings (Netflix CEO, who have a knack for splitting companies and sending emails to all the subscribers after having too many drinks)
Casey Anthony
Michele Bachmann
Rupert Murdoch
Kim Kardashian

The last section is the reason why I love TIME. Just for the web hits, robo voting...they'll let people vote for their choice, even though Time's contributors pick the person. the panel for this year is very diversified(for the lack of better word)..Brian Williams, Mario Batali, Anita Hill, Jesse Eisenberg, Grover Norquist and Seth Meyers.

I'm appalled that heavy weights like Miley Cyrus, Taylor Swift and Sarah Palin aren't on list, I'm gonna weep to sleep tonight. Meh, my intellectual inspiration Rep. Michele Bachmann is here..I'll take it.

Folks I'll cut to the chase, I want Kim Kardashian to be the new Person of the year. Please TIME, please! She's the epitome of the moral bankruptcy of the American culture, that is putting very mildly. She got everything you're looking for. No real talent in whatsoever form, sex tape, reality show, perfume, overpriced clothing, paid appearances, discontinued charge card, dimwitted athlete husband. Wait there're spin off reality shows for her sisters and other family members also.

She divorced her second husband with in the span of 72 days and that tipped off the Public. They actually believed that the fairy tale wedding was real and they'll live together ever after. Now they all feet cheated, they're angered and outraged that she took' em all for a ride.

Please TIME, keep it real, and make this woman the Person of the year.
(Don't mind the 19220 haters who voted against her, haters gonna hate)

Peace.

P.S. For what it's worth, time predicted the next president right. It's a kinda bold move for 2006, as Spitzer/Obama was perceived as hot ticket at that time and then Eliot Spitzer got caught in a sex scandal.

Update 12/03/2011
There's one more media event, which is more trivial and idiotic than this. It's the year-end sex surveys in Indian news magazines. For some reason, they do it every year and each year it's shocking. India Today just released theirs and Outlook might send one our way pretty soon.
Here's BBC's Indian Correspondent's column about this topic.

images via TIME

Wednesday, October 5, 2011

Steven P. Jobs, 1955-2011

I wonder whether this world would ever idolize any other CEO like we idolized you Steve.
RIP Steve, we will miss you.



image via apple

Sunday, July 31, 2011

Front Row tickets

George Carlin said this in 2004.

"When you are born in this world, you are given a ticket to the Freak Show, and when you are born in America, you have a front
row seat"



If you're an average educated & informed voter (or an aspiring immigrant like me) who's angered by these Tea Party shenanigans in this Debt Ceiling drama, don't get outraged. Consider this as a front row ticket to freak show in the name of American Political Bankruptcy.

Poor and middle class people who voted for these tea party hacks, where would you go crying once Ayn Rand's fan boy Ryan starts cutting your Social security, medicare and medicaid benefits? Enjoy the fruits of your labor. Oh btw, keep watching the fox news.

Middle class who voted otherwise, you aren't alone. You've the company of rich people. I know! The average 2 and 20 hedge fund guy, investment bankers, Wall St CEOs are all tired and vexed with these retards in the House.

For a change, I don't have any endless tirade about this. But I've two opinion pieces. One from the Free Markets savior WSJ and another from a successful financial advisor. Both are capitalists, not your average tax and spend liberals whom the wall st dreads most.

Here's WSJ opinion piece
The GOP's Reality Test
These below line sums up the Wall Street's frustration.
....The idea seems to be that if the House GOP refuses to raise the debt ceiling, a default crisis or gradual government shutdown will ensue, and the public will turn en masse against . . . Barack Obama. The Republican House that failed to raise the debt ceiling would somehow escape all blame. Then Democrats would have no choice but to pass a balanced-budget amendment and reform entitlements, and the tea-party Hobbits could return to Middle Earth having defeated Mordor.

This is the kind of crack political thinking that turned Sharron Angle and Christine O'Donnell into GOP Senate nominees

And here's a financial Advisor Joshua M. Brown's outrage in his blog The Reformed Broker
Traitors.
And the only thing worse than an economic dilettante voting idiotically in Congress is when someone who's actually worked on The Street acts like they don't know any better. For shame to the hedge fund managers and finance guys who are providing intellectual cover for the bastards who dare push this nation closer to the cliff's edge!

To Stanley Druckenmiller and the rest of the Oldtimers' Game brain trust, let me say this: Your ideas about missing a Treasury coupon "just to see what would happen" are so dangerous that I fear someone's been tampering with your meds. How is it possible that otherwise intelligent people could reasonably believe that the world's reserve debt instrument should be used for a political gambit? Mr. Druckenmiller (and friends), we agree on the need to get our house cleaned up, just not on your plan of swinging a wrecking ball at it to get the maids' attention. Congrats on your retirement, please don't feel the need to ever offer public comment again.

Sit back, relax and enjoy the freak show (or apocalypse).

Sources:
WSJ
The Reformed Broker

Sunday, July 24, 2011

Good looks are a curse

Yes, Good looks are a curse. As per this NY Times profile of Olivia Wilde. Oh wait, there's another NYT profile of yet another good looking woman Brit Marling who has to work extra hard to make her mark in Hollywood. Listen kids, don't aspire a career in Hollywood, if you're even remotely good looking. Or prepare to work very hard to go past an ordinary person.

Here's li'l bit of my personal experience. All doors open for good looking people, either men or women. Period. I work in IT, not a glamorous field by any measure. And I've seen many people, whose good looks and charm gave'em li'l push on their way up on corporate ladder. Trust me, there's no such thing called glass ceiling for these people.

Back to the NYT articles, these are the article Headlines.
Look Past the Beauty, if You Can.
How to Succeed in Hollywood Despite Being Really Beautiful.

There was a time, I was naive and I've this impression that all I read in Newspaper or magazines is objective reporting. Slowly I woke up to fact that there's a profession by name Publicist. Whose job is make sure that his/her client gets enough visibility in all the media. Client could be anybody or anything. A new website, app, artist, athlete, tech entrepreneur, VC et al. So the publicists hired by the agencies of Ms.Wilde and Ms.Marling are behind these articles. This doesn't feel good to me but I don't have any problem with this. No harm whatsoever.

But these attention seeking faux headlines makes me cringe. We're talking about Hollywood, where good looks are a pre-requisite. And when was the last time good looks became liability to any actress. This whole argument sounds preposterous to me. Olivia Wilde's profile itself quotes that her parents are influential journalists with beltway contacts and that's how she got a job in a casting agency. So the family background and good looks which gave her a break early in her career are suddenly a liability?

I like Olivia Wilde, saw her on Bill Maher once and found her very informed about social issues. Haven't seen any movie or TV series starring her. I've no idea who the other lady is. I don't have any beef with magazines profiling these artists, whenever their new movie/memoir/music album comes out. My only problem is with these catchy Headlines, these show business reporters come up with. If this article is all about beauty being a bane, then they should've skipped the photoshopped pic. Nope, that wasn't the case.

Being beautiful is not a liability. It never was and never would be. Media should stop using this overplayed meme. Just imagine how many people would recognize Olivia or the other woman, if they haven't inherited that good gene pool. This is show business, not Financial Engineering or Nuclear Science.

Peace.

Wednesday, July 13, 2011

Oh, the fourth estate

Few random observations on print and electronic media.

--Right now I'm watching a BMW's paid commercial err...special documentary about BMW on CNBC. I've seen similar programs about Ford, P&G and others. Are these the new Special advertising sections of TV? For these programs who pays who? I mean, would BMW pay for these programs as this is cheap advertising? or would CNBC offers this free slot of time to gain more commercials later.

--Sheryl Sandberg's PR offensive is firing on all cylinders. In the last 2 months I read a cover story of her in BusinessWeek, lengthy profile in Newyorker and heard about her on a morning talk show. Oh well, BusinessInsider also threw her in name for next Treasury Secretary position. What's she up to? Is facebook pumping her image or is this her own PR to show how important she's for facebook. Just another day in the movers and shakers of Social Network and Media Management world, I guess. Surprisingly her equivalent on Google Marissa Mayer is staying away from media.Link
--In good ol' days, there used to be a Missing white woman syndrome. Now there's Casey Anthony! I don't even know, where to start. Every morning I'll have 5 mins of TV time while tying my shoe laces and I couldn't escape her face at all for the last 3 or 4 weeks. When you come back home, you'll have Nancy Grace and even more crazier women (who makes Nancy Grace look like Katie Couric) calling Casey Anthony names. An apocalyptic music score and mind numbing graphics accompanies. I don't want to diminish the death of that child, but this is a tailor made ratings program for TV channels. An young, attractive white woman weeping on camera, no sane TV guy would loose that ratings chance. CNN Headline News, I get it. It's US Weekly of News channels serving the LCD of audience. But I'm appalled (not shocked) by the fact that abc news paid for her defense to get exclusive rights of her home videos.

How low could the media go.Link
Oh surprisingly we've an answer. From across the pond. Murdoch's Tabloids have been paying Police and private investigators to hack phone voice-mails of dead people for scoops, get access to tax records through illegal means. Not even the Queen, Royal family, former PM are immune from these criminals. They tried to hack 9/11 victims phones and London Bomb victims phones. They even published about Gordon Brown's son's illness in a tabloid. Here's the kicker, they even hacked phones of the investigators investigating these crimes.

But it all ended on a high note in the last one week. 168 years old tabloid got shut down, David Cameron's ex communications director got arrested, Sith lord dropped the bid for BSkyB. Not a bad week. Honestly, all this news from UK sounded like music to me. I feel the pain of all the common people who got hacked or exposed.

I didn't write anything about Fox News, as it's motives are very obvious. For the uninitiated Fox, Fox News, 20th Century Fox are all controlled by Rupert Murdoch and his family as majority share holders.

Peace.

Monday, June 27, 2011

State of uncertainity.. I mean unemployment.

I've been living here in USA for the last 9 years and I consider myself pretty assimilated. One of the things which I found very pleasant and surprising is the way college grads ease into the job and life. Almost every college grad used to land in job right after college. Parents will start feeling like empty nesters and suddenly have an extra room or two to use.

But college grads these days are really struggling. they consider themselves very lucky if they've jobs. Read this blog post by yves smith in naked capitalism about fresh college grad working as a doorman. The earlier doorman was also a college grad. That kinda struck me and reminded me of India in 70s and 80s.

India used to have socialist leanings in those days, hence there're not many private enterprises creating jobs. Very few private jobs and rest of them are government jobs. And there's affirmative action in the name of 'reservations'. So an average college grad with liberal arts diploma can't really land in a job. That's why all the movie heroes used to play the roles of unemployed angry young man who couldn't land into a job cause of corrupt officers and system.

As Bob Dylan sang, the times they are a-changing. India changed so much and it's a market bases economy now. Private enterprises are booming and GDP is growing at the rate of 7%. I don't hear about chronic unemployment which was staple of our society until mid 1990s. Even though unemployment rate is at 10%, it's better than 70s and 80s. At the same time, we here in USA are afraid of our jobs every day and unemployment is 9.1% and GDP growth rate slowed down to 3.1%.

As you might see it, there's not many jobs around in this country. And boomers are postponing their retirements, which means new grads can't get into market yet. Not to state the obvious, there're not many manufacturing jobs left behind in this country. As you can see from this picture, financial sector profits reached 41% of US Business Profits by 2009. They might've came down little bit by this year. Point I want to make is, we're not creating anything. Wall street is manipulating and minting money rather than managing and lending it. We don't have any good consumer devices from USA except the apple products. But they're all made in China and we made Foxconn a million employee company and lot richer. Facebook, twitter and other social networking innovations, yeah they're based in USA but they don't employ many people here. Facebook have development centers in India, Ireland and they use they to route profits to tax havens. All these IPOs and social networking only helps the rich and chosen few.

Lemme break down a myth perpetuated by Republicans. "Regulation is killing the jobs. Obama administration is a job killer". Well do you really think, corporations wouldn't hire, if there's enough demand. Post recession, many managers realized that they can milk the employees, as they've no place to go. Companies are sitting on record amount of Cash here and overseas. They're not hiring as they can't be sure of the demand cause of the doldrums in housing and job market.

Republicans portray themselves as strong at military and job creation. Obama proved the contrary on first point and I'll do the second one. (pun intended) Mitt Romney and Jon Huntsman, two presidential candidates are eager to tell how Obama failed to create jobs and how they're adept at it. Mitt Romney is partner of Bain Capital, a private equity group. Private equity group, by definition will buy a distressed company, lay off employees, optimize operations and issue an IPO and run with the profits. That's how Mitt Romney made part of his fortune. And Jon Huntsman and his family owns a billion dollar company Huntsman Corp. Out of 12,000 worldwide employees only 2,174 are inside USA. Effectively these two candidates who call themselves as job creators are job killers.

Meanwhile Obama got criticized for bailing out Detroit Auto Industry, which saved 1 million jobs. Just imagine how the situation could've be, if not for that. Every generation in this country reinvented itself. Steel industry, automotive jobs helped a generation survive and then call centre and IT jobs came along. They're all outsourced to India. These days except Healthcare and retail sector jobs, anything can be outsourced. Manufacturing sector isn't doing bad but the rate of job growth has to go up really fast to take more people off the unemployment.

Our chief competitor China is investing and prospering in all sectors. Education, Infrastructure, new jobs and investments in overseas. Remember, USA used to be that country. Not anymore. We've an effective conservative rhetoric in DC, which paints President as spendthrift even if he wants to invest in Infrastructure and education.

While the rest of world is busy in investing in kids and future, our Legislatures are busy passing bills to protect fetuses.

Peace.

Graph from Atlantic

Saturday, June 18, 2011

Two Speeches

I can't recall who spoke for my Commencement at University of South Carolina in Dec'03. I googled, couldn't find who it is or any quotes. We're all eager to take pictures I guess. After an year in Toastmasters, I developed interest in speaking. And thanks to YouTube, we can watch any commencement speech on Demand now.

It looks like speeches by Comedian / TV show hosts stood out this year
Here're Conan O'Brien & Stephen Colbert speeches.
Conan delivered his speech to Dartmouth Grads and Stephen to Northwestern University.

In Chronological order of the date of commencement address.




Both of them started funny and ended on a very high and teary note. It should be very hard on new grads and parents, to be reminded again by commencement speaker, how bad the job market is.

Congratulations to all the new grads, if any stumble on to this blog.
Things are gonna get better..

Sunday, June 12, 2011

Can we hold financial analysts responsible for their calls?

If you're a regular viewer of 60 Minutes, last December you might've seen Meredith Whitney predicting 50 to 100 significant municipal bond defaults in 2011. She made the headlines with just that call.

Please endure Chris Christie for 30 secs or you can scroll


LinkLinkFor the starters, she's one of the very few analysts who predicted the '07 financial meltdown in one form or other. Back then her prediction was, Citigroup would lower its dividend and that it was time to sell bank stocks. It could be cause of her financial acumen or sheer luck. That's her ticket to fame, till date that's the only good substantial call she ever made. She resigned from Oppenheimer on February 19, 2009 and started her own adivsory group.

But this muni default call didn't go unnoticed and critics pounced on it, from day one.
“You could see 50 sizeable defaults. Fifty to 100 sizeable defaults. More. This will amount to hundreds of billions of dollars’ worth of defaults.”
But as we're approaching mid of they year, she's getting very defensive on the call. Last Wednesday she's on CNBC squawk box.












Needless to say she's very tense and strangely she got pointed Questions from Becky and our new Free markets champion Joe Kernen. Here's few of her statements and my observations.

Muni defaults isn't part of large issue.
But her whole 60 minutes appearance was about her defaults call.

Tried to change definition of default as reduced services.
Her call specifically mentioned hundreds of billions Dollars of deficits.

Talks about state difficulties while the topic is muni-bonds.
State bonds are different from muni-bonds

She never mentioned 12 months
In 60 minutes video, she said 12 months


And here's response from Cumberland Advisors, her main detractors on this issue. Unlike Meredith, this firm isn't one trick pony and have gravitas.

I was thinking that she or her clients might be shorting municipal bonds. But she said on air that she doesn't have a position in bonds neither does her clients. Makes me think why would she make that kind of controversial call.

This looks like an exact opposite to Credit Ratings agencies role in sub-prime crisis, but equally harmful. Investors are already shorting the muni-bonds, and she added to it. I can't predict the result though. Looking at rise of income tax returns at state level, I assume/hope that states are in better shape then we all' re afraid of.

Financial industry and press aren't hiding their displeasure and I hope she wouldn't get a free pass. Not quite sure whether regulation covers this area or not.

Peace

P.S. Nice shout out from Meredith to Short Hills, my favorite mall in NJ.

06/14/11
This just in, WSJ itself is publishing contrary evidence to Meredith's predictions.

Thursday, June 9, 2011

My last Toastmasters Speech

This is my last (10th) speech which I gave at my Toastmaster's club. Objective of this speech is to 'inspire audience'. That's why the preachy tone and departure from my usual partisan and profane style. Minimally edited for blog.
------------------------------------------------------------------------------------------

Madam Toastmaster, fellow toastmasters and guests.


USA is a place where smart people can easily prosper and we exceed every other country in R&D activity and patent filings. Number of Nobel Laureates from USA proves that. There’re total 326 Laureates from USA. The closest country behind us is UK with 116. The Total count of next five countries (UK, Germany, France, Sweden, Russia) is 330.


But there's also an ugly side. The poor, down trodden, uninformed strata of our society. Today I want to talk about two socio-economic issues which touch all of us.


The creamy layer, smart people, they've been innovating, making difference in this country and all over the world. But we also have the poor, uninformed society. Kids from these neighborhoods are struggling in basic reading comprehension, math etc. Reasons are many.


If you'd observed, respect for intellectuals has been dwindling. More alarming is contempt for educated and deriding' em as elitists.


I can’t recall where I heard this or read this.

Of two top tier NCAA basketball teams, people hate Duke cause it's private university with smarty pants graduation rate 91%. But people idolize U Conn where graduation rate is so low, 31% as they're keeping it real. Daughter of a famous politician, the only reason she's on TV now is cause of her teenage pregnancy. Many youngsters now think that their ticket to fame is athletics, reality shows.


Reality shows...that’s the first issue which I want to talk.


I don't know how many realty shows or on air now, but few names are really baffling.

Teen mom, season 2
Extreme Couponing
I didn't knew I was pregnant
Tool academy
Jersey shore (this is like avatar of realty shows)

I don't know how many reality shows are there with the royalty, Kardashian sisters.

All they do on these shows is have sex out of wedlock, objectify women, quarrel with house mates. If this ends at reality TV, I'm fine. But reality stars started venturing into businesses to rob people of their money. Reality shows are just making money off the audience's ignorance.

Exhibit A
Kardashians pre-paid credit card ?
Why would anybody apply for this card, laden with hidden fees?

250 applied for this pre-paid credit card. It took a warning letter from CT attorney general to take that card off the market.

No body talks about these, and I want you to caution your neighbors, nieces, nephews, cousins who ever is vulnerable to these kind of things.


You might say, oh well all these people are poorly educated and they're susceptible for that kind of predatory lending.

Did I just say education, oh well reality shows got you covered on that also.
Donald trump University, Glenn Beck University..

Carmen Mendez, 59, is a public school teacher in Brooklyn. She spent 35,000 to get real estate diploma from Trump University. Donald, he declared bankruptcy thrice, while running casinos. Who'll become bankrupt while running a casino? And she paid 35K to get a diploma from his school, hard to sympathize with her. And she’s a school teacher. She’s an easy target for our jokes. But she’s un-informed, and she got fooled by Trump name on big towers in Manhattan.

This brings to my second issue today, for profit colleges!


USA and most of Western civilization followed this noble motive. Education should never be profit based. But things are changing and recession which started in ‘07 benefited' em immensely. You’ve all these suddenly unemployed people trying to comeback into job market.


You've public schools like "Univ of South Carolina" my alma-matter. Or a non-profit private universities like Harvard or Stanford. Now we've Private educational Institutions with profit motive, like

University of Phoenix
DeVry University
Art institute

Are they helping? Answer is harsh, no they’re not.
Let’s look at six year graduation rate of top 3 colleges in enrollment.

University of Phoenix 9%
DeVry Institute 31%
Art institute 41%

These colleges follow a specific pattern, they prey on minorities and low income groups. It’s just another form of sub prime lending, just the bait changed. Then it was a home, now it’s a college degree. People who join these colleges are getting loaded with student loan debts up to 60,000. Who’s lending this money, Federal government in the form of federal loans, Pell grants etc. So it’s you paying for this.

People who’re fortunate enough to graduate, these diplomas aren’t helping’em any way in this job market. All they’re getting is student loan debt.

Student loan debt is different from regular debt. Student loan debt is not dischargeable in bankruptcy, so it can follow a student for a lifetime. Defaulters can have their wages garnished, their income tax refunds intercepted, and their Social Security payments withheld.*

I'm not saying "don't spend on college" Pay for it, but don't get into 30K debt for a diploma in Asian studies.

So Federal govt wanted to put a leash on these colleges, but due to lobbying and pressure from few law-makers administration watered down the regulation and gave' em 4 more years...so how many people has to get bankrupt. There's a bright side, Apollo group stock went 10% up.

Point I want to make is, Ignorance is not bliss.

Please inform your loved ones and neighbors about the disadvantages of these schools. You’ve to protect your own interests and your family’s interests. And educate or inform people whom you care about.

Government might not help you. Problem with free markets is, there’s always a sleazy guy trying to exploit ignorant and poor people. Regulators are always in catch-up mode.

People like Railroad baron Vanderbilt in 19th century, Industrialist Henry ford in 20th Century and Bill gates, Steve jobs in our age, they all became rich and made people around them rich by working hard, adding value to life and by contributing to society. It's not just the industrialists, even your Hollywood icons...they all worked hard to be there.

Please convey it to the youngsters who just graduated or about to graduate.

There's no shortcut to success, you've to earn it. And Ignorance isn’t bliss.

Thank you.
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Sunday, February 20, 2011

Who's fighting for kids?

The school superintendent in this rural Texas town Hutto is working to trademark the school mascot Hutto Hippo. He is also planning to put advertisements on school buses and to let retailers have space on the school Web site. All these to raise some extra cash for the school district.

Texas State legislature is trying to slash $4.8B in state aid over the next two years. School administrators predict that as many as 100,000 school employees would’ve to be laid off to absorb the cuts. This is all irrespective of the fact that, Texas High school graduation rate ranks 43rd out of 50 states. Graduation rate is 61.3%, compared to national rate 69.3%

What happened, how did Texas end up in this kind of deficit? The Legislature put a cap on property taxes for schools and promised to make up the difference with a new business tax. But that tax has never produced enough revenue to make the districts’ budgets whole. Last year Fed stimulus money, 3.3B was used to plug the hole. Now that also dried up.

Texas isn’t alone in this, almost all the school districts (except very few) in the country are experiencing these deficits. I can see why state legislatures are going for these cuts. Unlike Fed government, states can’t have deficits on their budgets. They’ve to balance their budgets. I wouldn’t blame Texas or any other state particularly for doing this.

But lack of discretion in these cuts is what bothering me. Not all spending is equal. Schools should take precedent over discretionary spending. Kids education is the most important investment for any Nation’s future. If we don’t educate the kids well, how are we going to compete in this knowledge based economy. A note to NJ and WI Governors. Stop demonizing your teachers.

We already’ve China in our rear view mirror. Shanghai teens had beaten US teens in Program for International Student Assessment Test, known as PISA. This is their debut year in the testing. In one 2006 international assessment, the U.S. ranked 35th out of 57 in mathematics and 29th out of 57 in science.

Born and raised in India, for my parents nothing’s more important than our education. Like all my friends, myself and my sister were also sent to a private school as public education isn’t good. Unfortunately in USA, private schools are out of reach even for upper middle class.

As I see it, states doesn’t have much money left. But Federal govt has some leeway, if our legislature and executive are serious about it. Stop the tax breaks and payouts for these corporate welfare queens. Big oil, Ethanol growers, Defense industry, Agri Business, Banks, list goes on.

Let me finish with a news byte about Egypt. Egypt received approx 1.3B USD military funding every year since 1975. Israel receives 2.1B annually! Make no mistake, all that foreign aid money comes back to defense companies in USA. You can see, how this works. Defense companies approaches Lobbyists, who'll then lobby for foreign aid for warring nations. These companies deliberately spread out operation to many number of states. Whenever Budget committees try to cut down aid or reduce spending on defense, corporates play job card and the dance continues.

We keep hearing this line from people in the office and people running for the office. “America the Exceptional”. America is exceptional, because of the investments it put in education. And if it has to remain exceptional, we need to put attention back on primary education.

There’re almost 13,000 lobbyists in DC, serving the needs of corporates, labor unions, non profit groups et al. But no body is lobbying or fighting for our kids. It's on you to fight for your kids. Being single and no kids, I can't suggest effective ways to get attention of legislature and governors. Try Social networking or go old school. Write to your Congressman or Senator about this.

Peace.

Monday, January 10, 2011

Grifter from Alaska

Not quite sure why media has always to be so politically correct, just like our President is.

AZ shooting left 6 people dead and put a congresswoman in hospital. The suspect as I see is a mentally unstable person. As per news, he's not influenced by Sarah Palin.

But this grifter from Alaska has been getting a free pass from media for all
these days for all the stupid and hate mongering things she says on facebook and twitter. (On a side note, I can't wait for the actual writer(s) to come out. But that's for another day.) This picture which was on Sarah PAC website since elections was taken down just hours after the shooting. This event should be day of reckoning for her, but no body is pointing fingers to her yet.

When was the last time, this snowbilly showed up for any interview at any news outlet other than faux news. She developed an equally idiotic audience base who worship her. With these worshipers and libraries to buy, she's churning out best sellers like anything.

Why wouldn't media held her accountable for things she say. In Defense of Dr. Laura who said N word on radio repeatedly, Sarah tweeted "Dr.Laura:don't retreat...reload! (Steps aside bc her 1st Amend.rights ceased 2exist thx 2activists trying 2silence"isn't American,not fair")" It's not the point of some nutjob following her advice blindly. It's about making people responsible for the things to say. All the vitriol in the name of first amendment

Now the most disturbing thing, media is discussing Sarah Palin as a serious Presidential contender. I'll be glad to see her elected as Republic nominee but it shows how low the American Public has gone. See this NYT article. They discussed this situation like an election time strategy rather than a tragedy. And how she should handle this situation?

If I may Sarah, the best thing for you to do is STFU and start learning about issues which real Americans are facing. Unemployment, Home foreclosures, declining wages and schools getting closed. No body is loosing sleep over abortion, gays getting married, gun rights and fight over Christmas except you and few other wackos at faux news.

Two things made me rant about this today. One is Glenn Beck writing to Sarah Palin, cause he's worried of her safety.

"Sarah, as you know, peace is always the answer. I know you're feeling the same heat -- if not much more -- on this.

I want you to know you have my support. But please look into protection for your family. An attempt on you could bring the republic down.

Please, call Gavin de Becker in Los Angeles. He is the guy that protects me. They are, bar none, the best. There are nut jobs on all sides."


No body abuses first amendment right more than Glenn Beck. I didn't expect any sane thing from him. But still, instead of mourning for people who got killed, Glenn is advising this grifter about her safety. An attempt on you could bring the republic down, really?? This sounded more of an unspoken forbidden love which is common among closeted gay conservatives or the family values rich republicans who cheat on their wives.

The other thing is Jon Stewart being all neutral, preachy and asking people to slow down in his opening sequence on Today' Daily show. I know it's too early, but he could've utilized this opportunity to name some names. Another lost opportunity.

Peace