what do you value

I had an epiphany the other day about which I consider more important:  my ego or my relationships.  It’s a good reality check for me when I find myself getting frustrated with other people’s behavior.

Sometimes, the relationship is just not worth it.  But most of the time, it benefits me in the long-run to learn a little humility.

the carnival of revolving debt

If you haven’t been paying attention, the market is on the downswing.  There are still days when it goes up (and I can see it in my IRA), but generally speaking, the expectation is that we’ll hit bottom about this time next year.  What’s the problem?  I’m tempted to blame the president, but that’s too trite.  I’d also blame the war on Iraq, but let’s not go there just yet.

The immediate problem is, in a nutshell, predatory lending.  I know that’s a bit of a controversial topic, but bear with me:  if lenders practiced more responsible lending, we wouldn’t quite be in this mess.  The gist is, several well-known mortgage brokers got a bit carried away with approving high-risk loans to high-risk clients who bought houses that were too expensive for them.  The problem?  Interest rates rose sharply, increasing the rates on these loans, causing too-high mortgage payments to skyrocket.  And thus, foreclosure.

Defaulting on loans is serious business for lenders.  It’s also serious business for financial institutions that back these lenders and invest in these loans.  And we’re seeing the fallout, as mortgage brokers go into bankruptcy, and banks write down billions.

But wait, there’s more.  Many people pay their mortgage with their credit cards, whose interest rates rose as well.  And now people are defaulting on those loans as well, which is raising fears of a credit crunch to accompany the subprime collapse.

In retrospect, it seems silly - we’ve all learned not to spend more than we earn, and if we have to take on debt, we should do so in a responsible manner.  But that “responsible manner” has generally included mortgages, and most people don’t realize that an ARM is not always “responsible” (not compared to the 30-year fixed rate).

In the end, homebuyers and credit card owners made stupid decisions.  And while we bear responsibility for our decisions, I don’t think consumers are entirely at fault.  Mortgage brokers who pushed ARMs to customers they knew would not necessarily be able to handle the increase share the blame as well.  And as always, the predatory tactics of credit card companies is a HUGE ongoing issue too.

And all of this has me thinking about my own debt, and my buy-in in this whole crazy mess.  What’s the solution for the average consumer (who generally carries about 16K in debt)?  The first step is to pay that debt off, whether it’s credit cards (revolving), auto loans, student loans, etc.  The second is to consider retiring from the game.  When my debts are paid off, I will likely cut up all my credit cards, closing all but the oldest ones (to maintain my good credit rating).   I will probably keep my Amex, because I’ve found them to be the most agreeable, but after this, I’m dealing strictly in cash.

manufactured landscapes

In 2005, Edward Burtynsky won the TED prize. One of his wishes was to create a dialogue on sustainability, so he partnered with WorldChanging to bring awareness to some of the many issues he’s been documenting for decades.

I recently had the opportunity to see him speak and present the stories behind his photos. We also learned a bit about his motivation and his view on many of the emerging environmental and social justice issues that he captures with his pictures.

Photographers often attempt to remain detached from their subjects. But some things just grab you, and it’s nearly impossible to stay neutral.

why does etrade suck so much

can anyone answer this? how can a company not get something right FOUR times, in the face of multiple emails, phone calls, and faxes detailing exactly what needs to be done? i really need to find a new bank.

turning 30.

I will be 30 in less than a week. 4 years ago, when I turned 26, I got all freaked out. Now I can’t wait to enter my 30s, and put some emotionally, professionally, and philosophically turbulent years behind me. I have to admit, I look, feel, and present myself the best I ever have.

In the past 10 years, I graduated from college, went home for a bit, and came back to DC (where I’ve been ever since). I also finally started getting myself into shape.

In the past 5 years, I underwent a major career shift into public health, started a masters’ degree in the same, and starting growing out my hair.

In the past 2 years, I made another major life change that will not be discussed just yet. I also got serious about yoga and climbing, though I still haven’t worked out a good plan for either.

In the past year, I made a workable budget, got my debt in order, took some fabulous overseas trips, and applied for a major fellowship that could change the course of my life.

And in the past month, I transitioned into a position that is closer to my overall career interests.

The only downside is that I still haven’t fixed some pesky habits. I still eat crap. I still yo-yo with an exercise routine. I still spend impulsively. I am still cleaning-averse. All have gotten a bit better, but I think there is one major underlying factor here (aside from laziness) - I have terrible time-management skills, and there is just always something “more important” to do.

There’s always something!

americans are idiots.

particularly anyone proposing to vote for mitt romney or rudy giuliani.

that’s all.