B S Open

Tomorrow I'll be going to Palm Springs to join with friends to celebrate the 30th anniversary of the BS Open. This is an event that we've been having to play a golf tournament and renew old friendships of fraternity brothers from USC . . . Kappa Sigma.

Housing Bubble Concerns

Whether there's a bubble or not, one has to be concerned about the continuing pace of leverage on personal balance sheets. For some time now, experts have predicted this leveraging will eventually wreck havoc but so far it hasn't. Here are some interesting facts from the most recent analysis according to Freddie Mac . . . nearly $250 billion was added to consumers pocketbooks with the cashing in of home values in 2005. What happened to it? Much of it was plowed back into real estate to improve or invest in existing homes, some was invested in stocks and bonds and the rest was used to maintain lifestyles. That won't be the same case in 2006 for a variety of reasons. Federal regulators are zeroing in on the non-traditional loan market and you can bet that zero interest loans won't be that available in 2006 for speculation on housing. Second home values are now beginning to fall and new home sales are off 21% from last year's peak levels. Conclusion, the appreciation of home values is not going to provide for consumers the cash as in the past.

the Median Family

Median means the point half way between the top and the bottom, it's a statistical point for reference only, one which I believe is meaningless other than for tracking purposes. The median family's real net worth (adjusted for inflation) rose on 1.4% from 2001 to 2004 and only one half of the families in the US live on an annual income of $43,200 or less, up just 1.6% since 2001. Despite employment gains touted by the administration as so good for the economy, wage growth fell.

20 Strangest Gadgets and Accessories

I've never before referred everyone to another blog but here I go . . . check this one out at this link the blog has much more but this page is all about some pretty interesting gadgets out there now.

California Dept of Fish and Game's frustration

Whether it's poaching, snagging or overfishing the DFG has the responsibility and authority to enforce California's laws related to fishing and hunting . . . . too bad they don't have the manpower or money to do it right! DFG Director Ryan Brodrick and the state's Fish and Game Wardens' Association are aggravated and feel thwarted. That's because the game wardens in California is now the lowest per capita in history . . . imagine 190 in the field for 37 million people. Most wildlife areas get no enforcement at all. Governor Schwarzenegger vetoed a bill that would have funded $5 million for for new warden positions. Game wardens are paid $30K less per year than CHP so it's no surprise why the skills go elsewhere.

What's the point?

What's the point of being rich if you're up to your eyeballs in debt?

That's the first thought that crossed my mind when a friend pointed out the fine print from a recent report saying that a quarter of all American millionaires carry a second mortgage on a home.

"boomeritas"

There's a new name in medical cirlces that refers to the penchant of those born between 1946 and 1964 (baby boomers) to replace knees, ankles, hips; along with ligament and cartilage treatments, tendinitis, arthritis, bursitis and stress fractures. The name for the the results of a generation that has grown up with exercising to be fit and remain active . . . . . . unfortunately, all the over activity is causing breakdowns in the bones and body. read the story in the New York Times

Taxes

Now that you've filed or extended you might like to know that there are 66,498 pages of federal tax rules in the commonly used Standard Federal Tax Reporter. In 1913, when the federal income tax was introduced, there were 400 pages. There, doesn't that make you feel better?

Largest Earthquakes in American History

of the top 10 largest earthquakes in US history it's interesting to note that they all took place in Alaska or . . . .drum roll please . . . . Missouri! Yes, 3 of the largest earthquakes took place in New Madrid, MO back the late 19th century and the earthquakes were so large, they altered the Mississippi River!

Followup on the Pandemic

Some time ago I asked what ever happened with the President Bush's $12 billion pledge to protect us from a bird flue pandemic . . . now I find at least a website that can help . . . click here.

interesting comment on the tech meltdown in 2000

from James Altucher at thestreet.com

"Worth noting that six years ago today, April 14, 2000, was the "tech crash" - the largest drop in Nasdaq history when it fell 355 points. I had sold my first company, Reset, to a publicly traded company that lost about 60% of its value on that day. Very unpleasant. I was trying to take another company I had started, public, but the IPO market completely died for three years. Starting around 2001-2 all my banker "friends" started telling me (when they were talking to me at all) that "the Internet is a scam" or "tech is dead". Many break-even, or even profitable, tech companies were trading for less than the cash they had in the bank. More than 200 VC firms shut down. 150,000 people lost their jobs in a 10 block radius of where my first company was (21st and 5th).

Six years ago today probably began the worst 3 year period in my life but now, looking back at it, there will probably never be another period like that where the opportunity is so immense."

Skin Cancer Prevention

I now know that the American Academy of Dermatology has a free skin cancer screening program thanks to Dear Abby Advice. The good news is that 95% of skin cancers are cured primarily because of early detection. Go the AAD's website to find a screening near you . . . click here or call 888-462-3376

California government is not as open as it should be

Californian's Aware is a non-profit organization that supports and defends open government and designed a test to determine how state agencies and their compliance with state laws on open government are doing. Recently, most agencies failed the test . . . read the results at their website . . . click here

Mason Dixon Line

You know where it is don't you? The Mason Dixon line which is so often referred to as the dividing line between the Northern states and Southern states was created by two British astronomers in 1765. The line runs horizontally along the border of Maryland and Delaware . . . read more at this link

General Harold Johnson, Army chief 1964-68

All of this reminds me of another general 40 years ago. His name was Harold K. Johnson. He was chief of staff of the Army from 1964 to 1968. Johnson was a 1933 graduate of West Point. He was in the Philippines when World War II broke out and survived the Bataan death march and four years in the Japanese prison camps. His faith kept him going. He was a Baptist preacher when he wasn't soldiering.

Harold Johnson commanded at battalion and brigade level in the 1st Cavalry Division in Korea and earned a Distinguished Service Cross, the nation's 2nd highest award for valor.

In early July 1965, President Lyndon B. Johnson ordered the 1st Cavalry Division (Airmobile) and other sizeable units to deploy to South Vietnam in a major escalation of the war. What he refused to do was follow the advice of his military commanders and declare a national emergency that would freeze discharges of all soldiers.

President Johnson wanted to fight the Vietnam War on the cheap and on the quiet. He didn't want to disturb middle-class America or Congress for fear they would want to pay for the war by cutting back on his Great Society social and welfare programs. So he would send off Army units seriously under strength, leaving behind the best-trained soldiers whose enlistments or draft tours were near an end.

Gen. Johnson was furious. He summoned his car and on the way to the White House he removed the eight silver stars from his shoulders. But the general was debating with himself the whole way, and just short of 1600 Pennsylvania Avenue he ordered the driver to turn around. Gen. Johnson had convinced himself that if he resigned in protest LBJ would replace him in a matter of hours with someone much worse and more pliable. So it was best to remain and work from within to fix what he could.

Not long before he died, in the fall of 1983, Harold Johnson sat beside an old friend at a West Point Alumni Association officers meeting. He recounted that day and told his friend: "I count that as the greatest moral failure of my life. I should have resigned and fought the decision."

March was the wettest month on record

if you live in Central or Northern California, I don't have to tell how much it rained in March . . . YOU KNOW. as of 4PM Tuesday, Oakland, CA was 133% of normal rainfall for the year that ends July 1, with 28.69 inches, more than 7 inches above normal, San Francisco is at 154% and on and on. more rain is in the forecast too. click here to read the story

Dylan's first LP only cost $402 to produce

That's all it cost to record Bob Dylan's first LP for Columbia Records in 1961. He recorded 18 songs in 2 three hour sessions accompanying himself on the guitar. Interstingly, Columbia wasn't too sure about the LP and began to think that legendary John Hammond's golden years had erroded so they delayed releasing it until March 1962 and it only sold 5000 copies in the first year!

Taxaholics take note

Two recent newspaper stories underscored a problem several states are experiencing--stagnant or falling populations. The New York Times ran a piece about young people fleeing the Green Mountain State of Vermont for greener pastures, citing the lack of job opportunities. Around the same time, the Des Moines Register ran a special section on Iowa's population problem. A century ago the Hawkeye State was home to 3% of the U.S. population; today it's home to just 1%. Young people have been leaving in droves for decades. Both stories cited experts and politicians who offered up various solutions to stem the tide, yet both papers ignored the proverbial elephant in the room: taxes. These two states are punishers when it comes to laying levies on income. In Iowa the top income tax rate is nearly 9%, one of the highest in the country. In Vermont it's even worse, 9.5%.