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Monthly Archives: June 2017
Is California’s Legislature ultra-liberal? Not so fast – The Mercury News
Posted: June 3, 2017 at 12:54 pm
SACRAMENTO It seemed like a sure bet for another display of Californias ultra-blue Resistance: Fresh with outrage over President Donald Trumps decision to withdraw from the Paris climate agreement, the Democratic-dominated California Assembly considered a bill to curb both global warming and air pollution.
But in a surprising twist that illustrated how Californias Legislature isnt as knee-jerk liberal as the rest of the country thinks, the lower house rejected theclosely watched climate bill late Thursday night. To the dismay of environmentalists, it fell eight votes short amid a force that even politicians in Sacramento are not immune to: industry opposition.
Within its Democratic supermajority, Californias 80-member state Assembly includes business-friendly moderates known as Mod Dems who heed the state Chamber of Commerces list of job-killer bills.
And then there are the Democratic legislatorsfrom swing districts in more conservative parts of the state. With their seats on the line every two years, Assembly membersare in constant campaign-mode.
The Assemblys political complexity could doom big proposals coming its way this summer from the more predictably progressive Senate from bail reform to universal health care.
The health care measure, by Sens. Ricardo Lara, D-Bell Gardens, and Toni Atkins, D-San Diego, would replace private health insurance in California with a government-run health care system thathas energized the partys Bernie Sanders supporters and other progressives. But its sure to have a cooler reception among more centrist Democrats.
The universal health care bill passed out of the Senate Thursday without a funding plan, but it has long odds of making it through the Assembly especially once it includes the tax provisions needed to pay for it. Tax increases require a two-thirds vote in each house.
Asked to predict the bills chances in the Assembly, Assemblyman Adam Gray, a moderate Democrat from Merced, responded, I would think zero.
Gray called the Senates decision to release the bill without funding details an example of juvenile, irresponsible government.
Bill Whalen, a research fellow at Stanfords Hoover Institution, said Californias progressive proposals will generally hit two very big and very realistic speed bumps: a handful of lawmakers who listen to the business community and act accordingly, and the second speed bump is (Gov.) Jerry Brown.
Brown, who has fashioned himself as a fiscal moderate and the political grownup, has expressed skepticism about the challenges of creating a universal health care system in California. Many Capitol observers speculate he will veto any measure that comes to his desk.
If the governor sends such signals or even if he stays silent that gives cover to more centrist Democrats who tend to follow his lead on fiscal matters, Whalen said.
The governor has called on the Legislature to extend Californias signature cap-and-trade program which regulates greenhouse gases past 2020, but he has so far been silent on specific proposals, such as Assembly Bill 378, by Cristina Garcia, D-Bell Gardens. Thats the bill that failed late Thursday.
Garcias bill would have set emissions restrictions on individual power plants and factories, and it was fought by Big Oil and the powerful State Building & Construction Trades Council, which argued that the restrictions would hurt business.
The bills decisive failure caused sharp disappointment among the partys environmentalists.
Vanderwarker said she was struck by the disconnect between the anti-Trump rhetoric throughout the day and the vote tally 33-39 which fluctuated for well over 30 minutesas some Democrats went back and forth over whether to support it.It lost even thoughAssembly leaders thought they had the votes.
When it comes time to taking the tough votes and standing up to industry to make the changes that will directly improve the lives of low-income communities and communities of color, we dont see the votes, Vanderwarker said.
Hector Barajas, a longtime Republican Party strategist who now runs a public affairs firm representing the bail-bonds association and other business interests, said he generally finds the Assembly to be more receptive than the Senate.
Theres a little more independent thinking on the Assembly side, he said. If youve got something thats impacting jobs or impacting how we build youre probably going to have a more willing ear to listen to you over on the Assembly side than on the Senate.
Opponents of the bail-reform legislation warned it would create public safety risks and cause job losses throughout the bail-bonds industry.
You, the taxpayer, will pay to release these criminals, Duane Chapman, known as Dog the Bounty Hunter, said in a robo-call to some 800,000 phone lines last month. Car thieves, burglars, sexual predators and repeat offenders will get out of jail with little accountability, and we will not be able to go after them when they run.
As identical bail-reform measures by Assemblyman Rob Bonta, D-Oakland, and Sen. Bob Hertzberg, D-Van Nuys, headed to the floor of each house, Barajas said, lobbyists tried to make their case to each chamber, but they had less success in the Senate.
We were able to have a nice, open discussion a lot more with members of the Assembly, he said.
Hertzbergs bill to eliminate county bail schedules and replace it with a safety risk assessment of pre-trial detainees sailed out of the Senate on Wednesday, 26-11, even picking up some Republican support. But it could soon hit a roadblock.
Bontas bill failed late Thursday, 36-37, on the Assembly floor.
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Is California's Legislature ultra-liberal? Not so fast - The Mercury News
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How the B.C. Liberals squandered their chance to keep power – Macleans.ca
Posted: at 12:54 pm
Clark,after anews conference in Vancouver in which she admitted her government is likely doomed (Darryl Dyck/CP)
Imagine the Pittsburgh Penguins had left Sidney Crosby home for the Stanley Cup finals. The guy who told his teammates We can win this again, before the champagne had even run dry during last summers Stanley Cup celebrations. Their best offensive force, now entering the legacy-building stage of his career, who some nights seems to grind his way to a W on the force of will alone. To the B.C. Liberals, Christy Clark is Sidney Crosby.
She clinched a 2013 election victory not one pundit thought she stood a chance of winning, carrying her caucus on her back. She took a majority. Two years previous, shed won the Liberal leadership with the support of a single Liberal caucus member. Like Crosby, her best nights came when the odds were stacked against her. Like the Kid, people accuse her of being addicted to winning. Both have innate talents that cant be taught. For Clark, its the smile, the charisma, the boundless optimism. This spring, the fixed writ dropped just as she entered a legacy stage of her own.
Perhaps not surprisingly for a premier who fashions herself after the late W.A.C. Wacky Bennett, a right winger who ambitiously grew B.C.s a highway and ferry systems, Clark chose two massive infrastructure projects to mark her legacy: the $9-billion Site C dam, the largest hydroelectric project in B.C. history, and the $3.5-billion Massey Tunnel replacement, which was slated to become the largest bridge ever built in B.C.
But when the May 9 vote left her one seat shy of a majority, she needed a dance partner to stay on. The Greens went in minds wide open, says one member of the party with knowledge of the talks; they negotiated in good faith with both the Liberals and John Horgans NDP before settling on the latter earlier this week, throwing both of Clarks legacy projects into doubt (the NDP plans to punt Site C to the utilities commission for review, and Horgan reiterated this week that he will defer to the mayors when it comes to a decision on the 10-lane bridge).
READ MORE: Big changes in store for B.C. under NDP and Greens
It begs the question: why did the Liberals leave Clark out of negotiations, especially in the home stretch? With few scheduled meetings and speeches, and nothing in the way of media engagements, it is hard to imagine the premiers schedule was too jammed up to work them in. She wasnt even in her Victoria office, choosing to remain in her waterfront bureau in Vancouver, at the whim of ferry and flight schedules. She relied on her consiglieri, Mike McDonald to read the room and phone in his takeaway from the days deal-making. Her other negotiators included W.A.C.s grandson, Brad Bennett, a party donor Clark appointed to head BC Hydro; her finance minister, Mike de Jong; and the garrulous MLA Mike Bernier, the former Dawson Creek mayorthere to schmooze, one person present explained.
(Several sources for this story because they had signed non-disclosure agreements).
Whatever her reasoning, in absenting herself, Clark allowed Weaver and NDP leader John Horganwho arrived at the first meeting looking pale and anxious, according to one person presentto form a tight bond over the course of marathon negotiations. There was no love lost between the two men. During the campaign, Weaver had famously castigated Horgan for his temper, suggesting it could make cooperation with the Greens difficult. During the televised debate Weaver and Clark double-teamed the New Democrat leader, taking shots by turn. But as hours turned into days, a genuine warmth and friendship between Weaver and Horgan opened up, say those present; they came to see they had far more in common than either had ever realized. This includes a shared love for both rugby and paintball (yes, really).
When Weaver was first elected in 2013, cynics in the press gallery snickered at his enthusiasm and endearing navet. None is laughing now. Weaver turned out to be a surprisingly good strategist with a deft political touch, playing the two teams off one another, forcing the New Democrats, for example, to move up their planned fall session to summer, by warning them the Liberals had caved to their request to immediately recall the legislature. Youre going to have to do better, he told Horgan.
RELATED: NDP-Green pact lowers curtain on B.C. Liberal reign
Going into the weekend, some believed the Liberals held the advantage; in addition to the recall concession, theyd agreed to the Greens demands for official party status, campaign finance reform, even a referendum on proportional representation. But thats as close as they came.
Mid-Sunday, their team called the Greens in a panic, having apparently been tipped off that a deal with the NDP was imminent. The Greens agreed to bump up their Monday morning meeting to that night.
They met the Greens at Victorias Coast Harbourside, a mid-range waterfront hotel near Fishermans Wharf, a moorage with float homes, fresh seafood and a trio of portly harbour sealsone missing an eyeknown to beg for scraps. The Greens expected they would come with an offer in hand. They brought less than nothing, negotiators say.
Their team was spent. There had been no post-election breather for the three-person caucus. After a hard-fought 30-day campaign, Weaver and his two rookie MLAs, teacher and historian Sonia Furstenau and WSNE businessman Adam Olsen were almost immediately thrust into gruelling negotiations. They hadnt seen their kids in weeks, and were surviving on hotel food, bad coffee and Diet Coke.
That night, however, Weaver, was really on, says one negotiator. He was passionate and emotional, deriding the Liberals for ragging the puck, that is, deliberatelydragging their feeton the climate change file. Late in his tenure, former premier Gordon Campbell had a come-to-Jesus moment on the science of planetary warming, refashioning the B.C. Liberals as climate leaders, introducing North Americas first carbon tax and legislating emissions targets. Clark, however, froze what was meant to be a rising carbon tax, allowed B.C. to fall hopelessly behind on targets, and halted regulations on vehicles, fuels, buildings and waste management aimed at reducing emissions. These were real sticking points, said one Green negotiator.
RELATED: John Horgans roller-coaster ride on B.C. election night
None of the Greens are career politicians. Furstenau and her husband are part of a climate advocacy group that travels to Ottawa and Washington, D.C. to lobby politicians on their own dime. We were never in it to win, said one MLA. We went into politics to inject new ideason climate policy, participatory democracy, engagement. On May 9, the Green negotiator said, the cards fell in the most fascinating way possible, allowing us to put those ideas on the governments agenda.
By 9:30 that night, it was clear to Greens there was no hope of a Liberal deal, said one negotiator. Supporting the NDP was risky; had they thrown support to the Liberals, a strong majority would have ensured their desired legislation was passed. But in the end, we could not see ourselves supporting a continuation of that government, one negotiator explains.
Weaver and Horgan speak to media after announcing theyll be working together to help form a minority government THE CANADIAN PRESS/Chad Hipolito
Weaver had made up his mind that night, but he slept on it, and the following morning advised Liz Lilly, his chief of staff, to alert the NDP. Lilly then called Bennettto give him the bad news. The Liberals say they felt sandbagged by the decision, which the Greens consider curious. They felt Weaver had been crystal clear Sunday night: they were fed up with the Libs?, and the yawning gap betweenthe two parties was too greatto close. Later that morning, Weaver, a University of Victoria climate scientist who has published 16 academic papers since entering politics, ducked into the PhD thesis defence of his final grad student, shutting off his cell phone. He emerged hours later to join Horgan in the grand foyer of the provincial parliament buildings. Clark, still in Vancouver, tried reaching him one last time by cellphone. The premier left a message, then tried texting him, asking Weaver to call her. But by then it was too late.
Bernier says the Liberals, like the Greens, stuck to their core values in negotiations. And in the end, Clarks presence in Victoria may not have much mattered. Thats certainly the spin from the Liberal camp. They are also telling their foot soldiers to rally around the leader, that they will quickly be returned to power when the NDP minority government falls.
And yet Clark only endorsed Kinder Morgan in 2016. Would she have been willing to cave, and withdraw her support for the pipeline expansion project? Would that have been enough to push an agreement past the goal line? Would frank talk and promised of glory from the premier have helped? We may never know. But in do-or-die negotiations, a deft populist so skilled at the game of politics seems a bizarre healthy scratch.
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How the B.C. Liberals squandered their chance to keep power - Macleans.ca
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Do we have economic freedom? – The Express Tribune
Posted: at 12:54 pm
Economic Freedom Index is not a sacrosanct scorecard neither is it a predictor of investors confidence
The writer is an honorary Fellow of the Consortium for Development Policy Research
Pakistan has achieved a growth rate of 5.3 per cent, the highest in nine years. Now what can be done to sustain this growth? Economists believe that governments should pursue policies advancing economic freedom to stimulate growth and the rest can be taken care of by private enterprises and individuals.
In 2017, Pakistans economic freedom score hit the lowest-ever mark, bringing down the countrys ranking to 141 amongst 186 countries, all the way from 126 in 2016 and 121 in 2015. While there could be endless debates on whether this is an accurate reflection of future growth potential, it is hard to ignore the clear correlation between economic freedom and prosperity.
The recently released Economic Freedom Index 2017 revealed that countries lying in the top 25 per cent of economic freedom scores are six times as prosperous as those in the bottom quartile. Moreover, the top countries GDP per capita has been growing at more than double the rate of growth for bottom countries. In laymans terms, this means the difference in prosperity of these two groups with varying economic freedom will widen over time and one cannot have one without the other. In Pakistan, on the one hand, the federal and provincial governments are trying to lure in foreign direct investments through incentives, one-window facilitation and investment roadshows, while on the other, the lack of economic freedom is constraining existing businesses. It, therefore, calls for some introspection on where exactly are we going wrong. Economic freedom means that individuals and businesses are free to own and control their labour, capital and goods with minimal intervention by the state institutions. The Economic Freedom Index, created by Heritage Foundation and The Wall Street Journal, is based on four pillars: rule of law, government size, regulatory efficiency and open markets. These pillars in turn depend on 12 indicators ranging from property rights to fiscal health and from business freedom to financial freedom.
A closer look at these indicators reveals that Pakistan has scored extremely low on six counts: property rights, judicial effectiveness, government integrity, fiscal health, labour freedom and financial freedom. Three of these indicators constitute the rule of law pillar, making it the weakest area for the country.
It will be unfair to attribute this low score to any recent development, as since 1996, Pakistan has been categorised as a mostly unfree country. If at all, since 2013 Pakistan has shown steady improvements in government integrity as well as in monetary, trade and investment freedom. Judicial effectiveness and fiscal health have recently been added to the index so there is no historical trend available. But there has been little improvement in property rights, no improvement at all in financial freedom and a steady decline in labour freedom.
Looking at property rights, while the government does allow private ownership, it is quite difficult to protect personal property in case of disputes due to prolonged litigation, deterring entrepreneurial activity. It must be noted that property rights here pertain to both real and intellectual properties as well as to investor protection and quality of land administration.
Labour freedom, on the other hand, refers to excessive labour regulations in the country, limiting businesses ability to deal with redundancies. The low labour force participation rate of 15 per cent, much below the world average of 62 per cent, manifests poor labour opportunities in Pakistan and negatively affects their freedom. Lastly, financial freedom depends on factors like government influence on allocation of credit and capital market development, both of which are weak spots for Pakistan. Domestic credit to private sector for instance, is merely 15 per cent of Pakistans GDP, as opposed to 44 per cent in Bangladesh and 52 per cent in India. Claims on the central government, on the other hand, stand at 29 per cent of the GDP.
The Economic Freedom Index is not a sacrosanct scorecard neither is it a predictor of investors confidence. However, it does provide a lens through which many investors look at investment prospects and also presents a menu of options to governments where targeted reforms can be undertaken.
Published in The Express Tribune, June 2nd, 2017.
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Puerto Rican Day Parade Nixes ‘National Freedom Hero’ Award for Terrorist – Breitbart News
Posted: at 12:54 pm
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Cuomo, Univisin, the New York Yankees, Coca-Cola, JetBlue, Goya, and AT&T pulled out of the June 11 parade in the wake of the decision to give convicted terrorist Oscar Lpez Rivera the title of national freedom hero. Additionally, NYPD Commissioner James P. ONeill, as well as the NYPD and FDNY Hispanic societies, refused to attend the parade.
Other politicians, such as liberal Mayor Bill de Blasio, said they would still participate in the march.
In an article for the New York Daily News, Lpez Rivera said he would still forgo the honor and instead march only as a humble Puerto Rican and grandfather.
I will be on Fifth Ave. not as your honoree but as a humble Puerto Rican and grandfather who at 74 continues to be committed to helping raise awareness about the fiscal, health care and human rights crisis Puerto Rico is facing at this historic juncture, he said.
Lpez Rivera was a key member of the radical Marxist Armed Forces of National Liberation (FALN), which conducted more than 100 bombings in the United States in the seventies and eighties, killing five people, injuring dozens, and causing millions of dollars worth of damage.
Lpez Rivera was convicted on charges of transporting guns and bombs and was released this month after serving 35 years. Former President Barack Obama commuted his sentence in January. Lpez Rivera has denied being a terrorist but said, colonized people have a right to use force against their oppressors.
The organizers said in a statement in May that, Oscars participation is not an endorsement of the history that led to his arrest, nor any form of violence. But rather a recognition of a man and a nations struggle for sovereignty.
In his article, Lpez Rivera said it was time to move on.
Lets be puertorriqueos and puertorriqueas. The honor should not be for me; it should be bestowed on our pioneers who came to the United States and opened doors. It should go for activists and elected officials who fight for justice and a fair society, he said.
Adam Shaw is a politics reporter for Breitbart News based in New York. Follow Adam on Twitter: @AdamShawNY.
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Puerto Rican Day Parade Nixes 'National Freedom Hero' Award for Terrorist - Breitbart News
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Parks and Rec Dept requests $1.7M for 2018 fiscal year – News … – Taft Midway Driller
Posted: at 12:54 pm
Ridgecrests Parks and Recreation Department is requesting a total of $1,701,601 for fiscal year 2018. This represents an increase of $31,601 over the fiscal year 2017 requested budget of $1,670,00.
That was the word from Recreation Supervisor Jason Patin, who presented a proposed draft budget to the Ridgecrest City Council during a special budget hearing Wednesday. The budget will not be finalized until the council approves it at a later date. The next special session on the budget is set for June 6 at 5 p.m., at council chambers at City Hall.
Patin attributed the increase over the previous fiscal year to things out of our control like PERS [retirement system], salaries and an increase in utilities.
Of the requested amount, $217,323 is requested for parks administration. This includes salaries/wages and benefits for personnel; services including transportation and training, postage, and laundry services; operating supplies and food, clothing, and safety supplies; and an allocation for fleet maintenance. Of this, $204,899 is for personnel, $5,950 for services, $1,100 for materials and $5,374 for the fleet.
The recreation department is requesting $392,094 for personnel and services, including salaries and wages, benefits, advertising, miscellaneous service dues and publications and bank service charges. Of this amount, $291,964 is for personnel; $27,000 is the total for summer camps; and $33,000 for youth sports, among other expenses.
Recreation programs include adult sports, the fitness program, preschool, summer camps, recreation sports, concessions and youth sports.
The department is requesting $1,092,184 for parks and facilities maintenance. Parks and recreation facilities include Parks Shop, Leroy Jackson Park, Pearson Park, Upjohn Park, the Youth Sports Complex, street medians, the Kerr McGee Center, City Hall and the Senior Center. Funds are being requested for salaries and wages; benefits; utilities; waste disposal; maintenance supplies; equipment; tools; janitorial supplies and the fleet, which includes maintenance trucks.
This is really the biggest one, because it handles such a wide range, Patin said. Year by year that is drastically different because of the nature of the beast, he said referring to maintenance and repair costs. We never know what is going to break and where.
The department's Wish List, jokingly presented on a blank check, includes facility improvement funds, or things we could have done or should have done but did not have the funding, Patin said. He used Pinney Pool as an example.
Over the years that facility deteriorated and now it's closed. We don't want to see that happen to other facilities that we have. (For more on Pinney Pool, see related story this edition.)
Patin also asked council consider starting a large equipment contingency fund with $50,000 to $75,000 set aside for equipment repair. He said the fund could roll over from year to year if unused.
Patin quoted City Manager and Public Works Director Dennis Speer as saying, it's not a matter of if but when big-ticket items break.
I am a proponent of contingencies because there are things that are going to break down, Speer agreed.
Mayor Peggy Breeden ultimately sent the contingency fund topic to the city's finance committee for a recommendation.
Patin's wish list also included funds for a parks assessment study.
Patin discussed projected revenue from youth and adult sports, preschool programs, summer programs, concessions and room rentals. Projected revenue for fiscal year 2018 is $342,600, which is down $29,640 from projected revenue of $372,240 for this fiscal year.
Patin attributed most of the difference to the closure of Pinney Pool. That was a huge revenue source to us.
He also discussed projects not funded by the general fund but rather by Tax Allocation Bond funds. TAB funded projects include Pearson Park, Upjohn Park, Freedom Park Enhancements (including a Splash Pad and an outdoor movie theater).
Patin said that judging by Councilwoman Lindsey Stephen's Facebook postings, the park improvement projects are generating a lot of positive local interest. People are really paying attention, Patin said. The last one is the Kerr McGee Youth Sports Complex project, which we are in the middle of putting together, he said. This would include sports field lighting at existing football field, existing parking lot improvements, new site accessibility improvements for ADA compliance and renovation to all five existing baseball fields. Patin reported that scope of work was developed a long time ago, costs are being calculated and the project still has to go out to bid.
Patin did not go through his budget line by line, but his detailed presentation is available online at http://ridgecrest-ca.gov/budget
For more on the city's budget, see upcoming editions of the Daily Independent.
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Parks and Rec Dept requests $1.7M for 2018 fiscal year - News ... - Taft Midway Driller
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Public invited to hearing on financial independence, high-interest lending – Nooga.com
Posted: at 12:54 pm
Area residents can learn about financial independence and high-interest lending practices. (Photo: MGNOnline)
Area residents are invited to attend a public hearing on financial independence and research on high-interest lending practices.
The event is slated for Monday at 5:30 p.m. at the Family Justice Center,5705 Uptain Road, and is hosted by the Mayor's Council for Women.
Attendees will hear from Councilwoman Carol Berz, who co-chairs the council, along with panelists Martina Guilfoil, Tracee Smith, Joda Thongnopnua and Jennifer Harper.They will discuss the impact ofhigh-interestloans and the recommendations of the financial independence workgroup.
Mayor Andy Berke announced the creation of the council during his 2015 State of the City address.
The council addresses issues such as domestic violence, justice, education, health care, economic opportunity, history and leadership.
The city of Chattanooga has adopted three of the councils recommendations, and last year, the Tennessee Legislature passed a bill the council developed. That legislationhelps victims of domestic violence stay in their homes when faced with eviction because of an offenders actions, according to a news release.
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Public invited to hearing on financial independence, high-interest lending - Nooga.com
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Pete the Planner: Dealing with clients who don’t listen – USA TODAY
Posted: at 12:54 pm
Peter Dunn, Special for USA TODAY 7:02 a.m. ET June 3, 2017
Popular destinations: Harpers Ferry, W.Va., Richmond, Va., Baltimore, Ocean City, Md. Peak delays: 30-85 minutes Worst day/time to leave: Thursday, 3-5 p.m.(Photo: Getty Images/iStockphoto)
Im on the outside now.
But when I was on the inside of the financial planning industry, one particulardynamic made my job unexpectedlyharrowing. And now that Im on the outside, I often talk to financial advisers and other financial professionals who find themselves compromised by the same phenomenon that used to drive me crazy. Its so dangerous and counterproductive that no one benefits from this very common reality clients who dont listen.
The stakes are too high for both you and your adviser to not follow their advice. As a point of distinction, its important you understand Im not necessarily talking about what to invest in, rather how much to invest and how to execute your financial plan in general.
The role of your financial adviser is to listen to your goals, translate them into a financial strategyand then provide you with the steps necessary to achieve them. But this is where the crickets can start chirping.
If you dont execute the plan given to you, then you will fail. At that point, youre the only person to blame. Yet, advisers are often the people with fingers pointed at them and their reputations on the line.
Think how different this is compared to a trip to the dentist.Every single time I go to my dentist, he tells me to floss. Every single time I offer a forced smile and nod. He gives me floss. I take it home, and place it in my floss drawer. I have approximately 500unopened containers of dental floss in my floss drawer. Under no circumstances is he to blame. My dental crimes are my own.
However,with financial advice and financial advisers, theres a lot more at stake than hygiene. If you dontlisten to youradviser, you run the risk of failing at the hardest game in town creating financial independence. This means working longer (if not indefinitely), settling for less, and creating oodles of cripplingfinancial stress.
When your adviser says your goals need $500 per month or $150 per month or $273.76 per month, then send in the money, or change your goals. And if you arent willingtofeed your goals, stop wasting your money on financial advice.
The fact is, clients get distracted by the market and returns, which causes them to ignore their role in fueling the fire.It never ceases to amaze me how much more attention is paid to what to invest in, versus how much money should be invested. The result is every single retirement readiness statistic produced.Im not lamenting your rightto do what you want or don't want to do, if you dont fund your goals properly, you will fail every single time.
I want you to get the most out of your relationship with your financial adviser. Youre paying for it. Just understand, it behooves you to be a good client and follow through on the advice your adviser give you.
I cant imagine a more important professional relationship than the one you have with your financial adviser. If you find yourself a trustworthy adviserandput your faith and energy into the relationship, then you will benefit greatly. If you dont, or you dont put your faith and energy into the relationship, the equation breaks down completely.
You can do yourself a huge favor with your financial adviser by taking them a thorough set of financial goals. Talk through the goalsand then allow the adviser to put a plan in place to help you achieve the goals. If your adviser happens to tell you that one of your goals is a bad goal, dont get offended. Be glad. Save the customer-is-always-right drama. A great adviser will find a way to help you accomplish important goals and delicately dismiss counterproductive goals.
My feeling is that most relationships with financial advisers fail because measurablegoals are neither set nor accomplished. If youre sending your adviser a few hundred dollars per month with no specific goal, then everyone is worse for it. Be sure to put in the leg work from the beginning, by giving both you and your adviser a target to aim for. And above all else, act on your plan.
(Photo: Provided)
MORE PETE THE PLANNER:
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Pete the Planner: When budgeting, it helps to know your ugly months
Pete the Planner: $5 million in chicken means lots of eggs
Pete the Planner: Don't wallow in 'what if' problems. Solve them
Peter Dunnis an author, speaker and radio host, and he has a free podcast: Million Dollar Plan. Have a question about money for Pete thePlanner? Email him atAskPete@petetheplanner.com.
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Why Early Retirement Isn’t as Awesome as It Sounds – Lifehacker Australia
Posted: at 12:54 pm
Illustration by Elena Scotti/Lifehacker/GMG
Most people have a hard enough time envisioning retirement at all, much less early retirement. Despite that, many workers have managed to quit their jobs and achieve financial independence by age 40 or even younger. Sipping drinks on the beach all day at the ripe old age of 30 sounds incredible, but theres a downside to it, too.
I first read about the concept of early retirement via the finance blog Mr. Money Mustache. Blogger-turned-personal finance guru Peter Adney managed to retire by the age of 30, crediting his massive savings rate and extreme frugality. He argues that most of us can afford to do the same, but we fail to take control of our situation and too heavily blame outside forces. As someone who writes about both personal finance and the economy, I think thats a simplistic point of view, but it hasnt stopped many others from striving for the same dream, including the semi-anonymous blogger Brian at Done By Forty.
Documenting his own goal to reach retirement by the age of 40, Brian explores the full picture of what early retirement looks like. He told us:
We bloggers who write about early retirement and financial independence do a pretty good job outlining the benefits of those goals: additional time with our friends and family, the freedom to pursue activities without the pressure of needing a paycheck, and the security of having a nest egg that can sustain ones expenses indefinitely. But we do a lousy job seeking out the risks inherent with a huge life change like early retirement.
In a recent post, he breaks down one of those risks: early retirement might dull your brain.
There are actually a handful of studiesmost notably, the Health and Retirement Studythat find a link between cognitive decline and retirement in general. Researchers call it mental retirement, and it may hit harder for younger retirees.
Citing a study published in the Journal of Economic Perspectives, The New York Times reported (emphasis ours):
The researchers find a straight-line relationship between the percentage of people in a country who are working at age 60 to 64 and their performance on memory tests. The longer people in a country keep working, the better, as a group, they do on the tests when they are in their early 60s.
The study used a memory test that asked subjects to remember a series of words, then tested people from different countries, some of which encouraged citizens to retire early. They found that early retirees scored significantly worse than subjects from countries who retired later.
My feeling is that the memory test signals the tip of an iceberg: a small sign of a larger mental decline, Brian writes in his post. Of course, correlation is not necessarily causation, and memory tests are just one way to measure cognition. Other scientists have pointed this out, too. As one researcher told the Times:
Its quite convincing, but its not the complete story. This is an opening shot. But its got to be followed up.
That said, the authors of the Mental Retirement study seem to be pretty convinced that there is indeed a causal relationship. They point to a couple of reasons early retirement might dull our cognition.
This might be a matter of use it or lose it. The earlier you let go of mental stimulation, the worse your cognition gets by the time youre, say, 60 years old. Its easier for us to learn when were younger, so when we opt out of learning, we miss out on the chance to improve cognition down the road. They say if you want to keep your cognitive abilities, like memory, you should stay active.
The very prospect of an early retirement itself may sap the workers motivation, Brian told us. Why take on difficult projects and learn new skills if you are fifty, but are leaving the workforce in five years? In other words, the mental retirement effect may kick in before youve even left your job.
If these studies hold any water, that means that if you retire at 30 or 40, cognitive decline could start even before that.
Ive been thinking a lot differently about my early retirement since writing the post, Brian said. The research seems to point to keeping some sort of work in your early retirement plans, which is ironic and maybe a little sad, too. But the risks of cognitive decline are too great. Without really convincing research on how you can effectively mitigate those risks, the best approach I can think of is to keep some form of work in my life.
As much as we complain about work, it seems theres an upside to it: it can keep us sharp. Of course, the answer isnt that black-and-white, either. Not all work is mentally stimulating, for example. And working until you die just to stay sharp sounds like a pretty depressing solution.
The thing is, this isnt just a problem for early retirees. It might be something that affects all of us. Rachel Wu, a University of California-Riverside psychology professor argues that we all suffer from cognitive decline as adults because of the way we learn.
When were kids, were encouraged to learn broadly: we take on multiple skills at once, were allowed make mistakes, and learning is open-minded. As adults, we switch to specialized learning: were supposed to pick one career, one job role, and if we make mistakes, there are serious consequences, like losing a job.
When you look across the lifespan from infancy, it seems likely that the decline of broad learning has a causal role in cognitive aging. But, if adults were to engage in broad learning...similar to those from early childhood experiences, aging adults could expand cognitive functioning beyond currently known limits, Wu said in a statement.
In other words, she argues that, retirees or not, we can stay sharp by learning multiple skills, getting out of our comfort zone, and embracing mistakes.
Back when I started the blog, my plan was to insert more activity diversity into my life: just to spread my twenty four hours more evenly into the things I like doing. Like board games. Or naps, said Brian. But the more I think about that, the more that seems like a rudderless existence, too focused on leisure and rest. Our plan today is to insert meaningful work into my retirement, irony be damned.
The solution seems to be less about working through retirement and more about making sure youre exposed to stimulating activities when you retire.
If they want to stay sharp, early retirees have to think beyond the traditional sipping drinks on the beach approach to retirement. This is why a lot of early retirees, including Mr. Money Mustache, use the term financially independent instead.
The honest answer is that Im not totally sure what that life will be like yet, Brian said. It turns out that knowing that you dont want to work a traditional job until 65 is not the same as knowing what youd rather do instead.
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Watching the Tape Move for Sealand Natural Resources Inc (SLNR) – Benton Bulletin
Posted: at 12:53 pm
Needle moving action has been spotted in Sealand Natural Resources Inc (SLNR) as shares are moving today onvolatility-36.36% or -0.20 from the open.TheOTC listed companysaw a recent bid of 0.3500 and1600shares have traded hands in the session.
Investors may be employing many various trading strategies when approaching the markets. Investors may be hoping for sustained upward trends where stocks calmly and steadily advance in that direction. Of course, this isnt typically the case. Having some foreign exposure in the portfolio may provide overall diversification and also potentially boost performance over time. Investing globally may entail considering the risks of investing in economies that are inherently less developed and thus less liquid. A diversified approach may target foreign markets that have solid growth potential and favorable domestic conditions, such as a stable political setting. Investing globally may require much more research and dedication in order to fully understand the ins and outs.
Deep diving into thetechnical levels forSealand Natural Resources Inc (SLNR), we note that the equitycurrently has a 14-day Commodity Channel Index (CCI) of -83.35. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
Sealand Natural Resources Incs Williams Percent Range or 14 day Williams %R currently sits at -77.78. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.
Currently, the 14-day ADX for Sealand Natural Resources Inc (SLNR) is sitting at 12.86. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.
The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, the 14-day RSIforSealand Natural Resources Inc (SLNR) is currently at 47.86, the 7-day stands at 44.58, and the 3-day is sitting at 36.41.
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A Dispassionate Defense of ICOs as an OK Thing – CoinDesk
Posted: at 12:53 pm
Everyone seems to have an opinion on 'tokens' of late.
As if there weren't enough things to worry about in the world, the idea that a limited set of cryptographically unique data can be created and sold by anyone with an internet connection has emerged as a divisive issue, with everyone from the Financial Timesto Reddit trolls weighing in.
How bad (you mean good?!) is it?
Well, let's just say people who generally decry the intervention of government are practically screaming for the regulators to be involved, and 'sensible' people are falling over chairs to distance 'blockchain'from the whole thing (and those are the more sane parts of the conversation).
What do I have to add? Just that it seems to mark a change that perhaps should be considered more dispassionately. Sorry, but tokens just aren't the end of the world (or the beginning of some new utopia).
Both sides have logical conclusions. Both are over-reaching to prove a point: Tokens are bad woe the poor granny investor! Tokens are good end to the Silicon Valley elites! (Written in true Silicon Valley style, of course.)
The better questions are:Should centuries of sensible regulation be discarded because of technology? (No.) Should tokens be demolished in infancy because of their threat to ahighly risk-tolerant sub-population bent on 1,000% returns? (Also, probably no.)
In the words of Shooter McGavin, sometimes you have to play the ball as it lies. Sometimes that's off Frankenstein's fat foot...
It does! Who needs a token? Not really anyone knows. (As with bitcoin, we should probably be OK with that.)
Maybe the guys at Polychain Capital know. They talk like reasonable people who know something that's too weird to discuss in much detail. (When your local Teslas need a protocol for a robotic union, then you'll know!)
Where to start? Bitcoin is a protocol. And in the words of Tom Ding (who ran a token sale platform that was VC funded, operational and closedbefore the term 'ICO' ever existed), it's a limited data set for a specific software instance.
As we've seen with bitcoin, this lets us send (increasingly expensive) bitcoins between parties around the world (sometimes to criminals!). What is that good for? Who knows? Payments? Maybe more things, maybe not.
What other software protocols need to behave like that? Leaderless and broadly usable? Got me there.But ethereum has made it super easy for us to find out. (Is this a use case? OK, let's forget it.)
Are any of these things good? Maybe. Tokens are likely this year's 'accepting bitcoin'a way to appear trendy by using technology in a way that seems smart, but probably isn't a good intended use case.
If that's true, then this is ethereum's 2013 expect more oddball brands to turn to the concept with little luck.
The common thread of both sides is there's a tendency to wrap these arguments in some kind of moral cloth.
As I'm writing this, I'm walking in the woods, typing on a little phone screen. Some timeago, I'd have useda pen and paper. Manycenturiesbefore that, a stone tablet and a big mallet.
I'd have to go somewhere to send this to you. Or maybe I wouldn't be able to send it at all. But I never really wanted to send you aletter (or a stone tablet). It's because of convenience I'm lazy and largely apathetic that I use a phone (or write this) at all.
Remember, I don't want to buy a record, I want to hear a song. I don't want to buy a stock, just exposure to some idea that makes my money go up or down (but preferably up). (Disclosure: I have never bought a stock and probably won't. It sounds terrible.)
Point being that technology very rarely ever seems to have a moral bent.
Like rock 'n' roll, it does, though, have an ingrained cultural posturing that sometimes, occasionally, but not really that often, has a real impact that propagates the myth.
(Wasn't part of this supposed to be positive? I'm getting there!)
As someone who stares at Coinmarketcap for hours, sure, it can be confusing. We have new things that look like other things, but kind of, sort of aren't. When token markets pump before an announcement...Insider trading?! Maybe, sort of. Moral outrage seems like an easy knee-jerk.
Tokens are often called a new kind of digital asset, but they're probably more like a digital invention.
If I invent the wheel and tell people about it, am I 'pumping'? If I did invent the wheel, you'd probably want to invent a wheel store. (That just seems like good advice.)
But 'Hey, only 130 people were in on the Brave sale!' Sure, but eight people invested 2 ETH (about $400) or less... See?Disrupting venture capital! Well, people need a lot of free income to invest in things, I hear.
Maybe we should focus on convenience and delivery. That seems like all we end up with anyway.
As Wences Casares reminded us at a Coin Center dinner last week: "We have no chance, we're all up against infinite time".
Tokens, in this context it seems, are likely to outlast us all.
Parking meterimage viaCaribbean Trakker
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