Sunday, July 5, 2009

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Michael Martin: Broke: The New American Dream Top
A new documentary Directed by Michael Covel has been released that takes a hard look at the decisions we as a country make about money. Broke: The New American Dream is a study in Behavioral Finance - how and why people do the things they do with their money - or avoid it all together. The result is a shocking expose on the belief systems behind how Americans handle their money and what drives our decisions from the the regulator, the money manager, the guru, and the end-user...the American public. This is not a partisan film. This is a film about personal responsibility, and he blames everyone for the financial meltdown - including me and you. Greed, ego, and arrogance overcame everyone from the most sophisticated financier to the most rural participant...especially in real estate. Greed took over the buyer, the mortgage broker, the seller, the agents, and Wall Street. To Covel, all are responsible: if you're broke, it's because you have a lot to do with it. When I first viewed the DVD, I thought Covel was being confrontational and controversial to have such inflammatory remarks. You can sit and blame everyone - it will feel good - but is that going to help you retire? Financial literacy is more about knowing how to handle risk than quoting Suze Orman or knowing how to "dollar-cost average" - which only pays off in rising markets. It's about managing risk and that starts with diversification - a technique to minimize risk - but not an "investment edge" to make money. You think the government has your back? Guess again. Covel quotes statistics that show that 40% of those who make $35,000 and less feel that playing the lottery was the best way to amass $500,000 for retirement. Lotteries are marketed heavily to the poor -- people who can least afford them. Wanda Sykes comedy routine about saving for retirement is both hilarious and sad. Problem is, state lotteries are a game of negative expectation . That means over the long run you'll never win. As Professional Poker player Chris "Jesus" Ferguson states in the film, "your odds of winning the lottery aren't that much better if you buy a lottery ticket than if you didn't. There very close to the same (zero). I don't try to play too fancy...I just keep my dollar." Ferguson, who is one of many professional poker players quoted in the movie, created games for California lotteries before pro poker, so he would know. Some of the other players who appear are Evelyn Ng, Antonio Esfandiari, Howard Lederer, and his sister Annie Duke. But someone always "wins" you say? That's true, the government. Playing investigative journalist, Covel gets a Virginia gaming commission member to say off camera, "we don't even want people to marry the words investment and lottery - we try to discourage that." And 2 weeks later, Covel found a Cramer look-alike in a VA Lottey ad ! Congressman Chris Van Hollen (D-MD) explains, "you can try to get rid of the lottery, but you have to replace it with tax income." So you have the poor thinking the lottery is an investment and at the same time the lawmakers knowing that it is a voluntary tax. Something is rotten in the state of Denmark. Online poker, a game of skill, is banned. Lotteries are not. As Congressman Barney Frank (D-MA) insists in the film, "In areas where we need to act together to protect our quality of life and the environment...in transportation and public safety...we abstain. But in those areas where individuals ought to be able to make their own choices, we intervene." Regardless of your political leaning, you're going to have a tough time blaming the "other side" for financial calamity because Covel has covered his bases, which supports his argument that the problem is you. Michael Mauboussin says, "Warren Buffett has more in common with a professional poker player than he does with investor." And Legg Mason's Bill Miller chimes in "they ought to teach poker in business school. In poker, you can make all the right moves and still lose." Buffett is more lucky than talented. As a professional trader interviewed for this movie, I can attest that self-awareness and emotional intelligence have as much to do with risk management as the rules themselves. Learning to lose deliberate, small amounts of capital, are a staple of winning the money game - something that is echoed again and again in the movie - whether you're a trader or investor. Maybe you believe that everybody on Wall Street are barren robbers...that the stock market is legalized gambling...that all mortgage brokers and real estate agents are unethical. Covel argues that does not give you a hall pass to leave your money unattended. You are responsible for the results you get even if you've hired a financial advisor - a provocative statement, but one that I believe is true. It's your money - no one is going to care about it more than you. In the end, Covel argues you cannot legislate behavior. Like water, capitalists will always seek a new level. Congress and the Regulators will always be a day late and a bailout short in filling loopholes. Religion doesn't anchor anyone any better: Religious beliefs cannot legislate morality: Madoff committed a white-collar crime against people of his own religion. Covel believes that you have to contend with the fact that Social Security is in dire straits. We are paying into a system that might not pay out benefits. He challenges you by asking "What are you doing to about it?" If you're doing what the folks he interviewed are doing, you need a lot of help. As Barry Ritholtz said, "if in 20 years you're eating cat food, don't look at me." In other words, it's your money. Own it. Do something about it. The solutions lies with Financial Literacy: know how to take small, consistent losses. Admittedly, our educational system does play a role in conditioning our way of thinking. Human beings are not built to manage risk. We want to know "why" things happen. We want to understand things. And smart people don't like being wrong. Their self-esteem is heavily invested in being smart. A great example of this is illustrated from an interview Covel had with a Georgetown student: "I bought Blackstone on the IPO (at $35) and I'm staying in because I don't want to be wrong. I'd rather lose the 3,500 bucks and be wrong. I am waiting for it to come back." Blackstone is about $11 now. Sometimes they don't come back. More on Financial Crisis
 
Steve Parker: Auto warranties --- avoid the rip-offs! Top
Hope you all had a wonderful and safe holiday! Please excuse my recent absence, but starting today we're getting back to business. Now, let's try and save everyone some money and hassle when it comes to auto warranties. First of all, in spite of the sometimes-confusing terminology you might hear when someone's trying to sell you a warranty, keep this in mind: "warranty" in this case is just a fancy word for "insurance policy." When it comes down to it, that's all a new- or used-car warranty is --- an insurance policy for car repairs. You pay the premium, usually in one lump sum after you buy the car; when it needs repair, the company backing the policy pays for them, depending on what's covered in the policy. And they are very profitable for dealers, which explains the "hard sell" which usually surrounds them. Normally, in a blog post like this, we'd talk mostly about the potential dangers of "third-party" warranties, those backed by companies not affiliated with the car-maker. There have been instances (one I remember happened with the #2 Japanese car-maker some 20-or-more years ago) when the third-party company backing the warranty goes out of business, leaving the warranty holders high and dry. It's very rare, but it's happened. But buyers never thought they'd have to worry about a warranty purchased at a dealership from the car-maker. Today, though, both Chrysler and General Motors are putting out confusing messages about their own factory-backed warranties. That has a lot of people worried, and rightly so. Both companies are making noises about refusing to honor warranties on older cars and trucks, claiming those sales have become part of their "old" selves, "bad Chrysler" and "bad GM," the parts of the companies which are now being closed or sold-off as part of their respective bankruptcy and reorganization plans. We came across the following information from the Service Contract Industry Council (www.go-scic.com), which describes itself as "a national trade association whose member companies collectively offer approximately 80 percent of the service contracts sold in the U.S. for home, auto, and consumer goods." Here's what they have to say: -- Most service contracts are sold face-to-face at the point of sale from reputable automotive dealerships. Many reputable providers administer and service the contracts sold through these outlets, and also sell them independently, some via the Internet. -- Do not buy a service contract if the provider will not supply you with a copy of the contract terms and conditions prior to purchase. -- Be alert to service contract providers who use unsolicited mass marketing techniques, such as direct mail and telemarketing (e.g. "robo-calls"). Yes, warranties are available for most motorcycles, too, like this exotic Ducati --- the same rules apply as far as not getting ripped-off -- Avoid purchasing service contracts if you feel overly pressured by sales personnel. Service contract coverage for autos can typically be purchased on the spot or days after the product purchase, giving consumers time to review the terms and research the provider (more on this below). -- Thoroughly read and understand the terms and conditions of your service contract and be prepared to realistically fulfill all responsibilities related to regular maintenance, such as oil and filter changes, etc. -- Some service contracts provide a 30-day, "free-look" period for consumers to review the contract and return it for a full refund if they decide not to purchase the service contract. -- Consumers should locate the name of the service contract provider on the contract. If a contract does not list an administrator's contact information, contact your state Department of Insurance or the Better Business Bureau to determine if the company is authorized to do business in your state. Keep in mind that not all states regulate service contract providers and that many states exempt manufacturers from regulation. -- While many "e-providers" offer competitive pricing and reputable service, use caution when purchasing a service contract over the Internet and guard against "phishing" scams; make sure you know who you are giving information to. -- Maintain a dedicated file for contracts, receipts, and maintenance records and use the service contracts as often as needed and applicable to enhance product use and maximize investment. A couple of more points from us: perhaps most important, prices for these warranties are very negotiable. After you decide to buy a car or truck at the dealer, the F&I (finance and insurance) person will hold you captive in a hot, tiny room in the bowels of the dealership, and try to sell you everything from undercoating to roof racks to "stylish" wheels to upgraded audio to security and alarm systems --- they'll also offer a warranty. It's at this point, if you decide you do want the warranty, that you turn-on your negotiating power (or what's left of it after going through the whole car-buying process). If the price for the warranty is $700, for instance, offer half that, and let the games begin. But, depending on where you live, you may have up to a year to buy that new-car warranty, so don't let yourself be pressured --- there's really no hurry. Take the time to make-up your mind; after you take the new car home, and you've talked with the F&I person about the warranty and know what their offer is, you can do some research and comparison shopping. In fact, in some states, you can buy a new-car warranty at any dealership which handles the same brand of car. In future posts, we'll talk a bit about used car warranties (a relatively new phenomenon, and usually part of the new "certified used car" programs many manufacturers offer), how to make sure the warranty stays in-effect for its full time and mileage period, how and when to make a claim, what happens if you buy a car from a private party which has a warranty and more. And if you have any specific questions on any automotive topic, or motor racing, or an idea for a blog post, don't hesitate to e-mail us at steveparker@roadrunner.com. Thanks! More on Cars
 
Arianna Huffington: Sunday Roundup Top
The GOP's Runnin' Off the Rails tour continued this week with Sarah Palin announcing she will resign, Mark Sanford admitting he "crossed lines" with multiple women (while providing an instant new slang term for sex: "crossing the ultimate line"), James Inhofe welcoming Al Franken to the Senate by saying, "We are going to get the clown from Minnesota," and John Boehner spending an hour on the House floor reading aloud portions of the landmark climate-change bill he labeled "a piece of shit." Also this week, U.S. troops in Iraq were finally cause for celebration, fireworks, and dancing in the streets of Baghdad. It turns out it was not our arrival in Iraq that was greeted with flowers and sweets but our departure. It's an agonizing lesson learned six years, $1 trillion, and 4,321 U.S. deaths too late.
 
William Bradley: Obama's Consequential First 4th: NoKo, AfPak, Iraq, Russia, Palin (Palin?!) Top
In his weekend video/radio address, President Barack Obama discussed the heritage of Independence Day and pushed his economic, energy, and health care agenda. Quite a consequential first 4th of July as president for Barack Obama. Not only did he have 20 of daughter Malia's schoolgirl friends over for a Camp David sleepover in honor of her 11th birthday on the 4th of July -- just wait till her "Independence Day," Dad -- he had a few other things on his plate, as well as the barbeque for military families and the fireworks show. Not counting his inherited worst economic crisis since the Great Depression. North Korea was to have been the drama of the day. But it turned into a major fizzle. Those wacky characters in Pyongyang had threatened to challenge Obama in two big ways. First, with a ship reportedly carrying contraband weapons technology for sale. And more dramatically, with a threatened test launch of a long-range missile toward Obama's home state of Hawaii on the 4th of July. But fortune, or perhaps the judicious use of presidential pressure, smiled on Obama as the ship turned back and the missile launch to Hawaii did not materialize. On the AfPak crisis, Obama monitored the first big military offensive he's ordered, the Marines in southern Afghanistan, just underway over the last three days, as well as the first big military offensive he's suggested, the Pakistani Army against encroaching Pakistani Taliban, underway for weeks. On the Iraq War, which he opposed from the beginning as a distraction from the attackers of 9/11, not to mention a quagmire-in-the-making, Obama monitored the pullback of US combat forces from Iraq's cities and towns, completed just a few days ago. On Russia, Obama continued prepping for what may be his most important summit meeting of the year, the Moscow Summit on July 6-8. And received good news about Russian assistance in Afghanistan. Which naturally will come with a price tag. On Sarah Palin ... Okay, that's more of a light dessert than an entree. But still, at least a mild distraction. Is there a rational political explanation for her behavior? And, more to the point: Does it matter in the least? Two weeks ago, North Korea had a ship at sea carrying contraband weapons technology, in seeming violation of the UN Security Council, and threatened to launch a long-range missile at Hawaii on the 4th of July. Both threats evaporated. ** For weeks, Obama and his team had to monitor the North Korean situation. North Korea has been an incipient crisis since its underwhelming but threatening nuclear test detonation this past spring. In this latest iteration, ts threatened long-range missile test launch toward Obama's home state Hawaii on the 4th of July did not, in the end, materialize. But the North Koreans did fire off a number of shorter-range missiles, which can reach targets in South Korea and Japan. Perhaps the North Koreans were dissuaded by Obama moving anti-missile units to Hawaii to shoot down their missile on the off chance it got anywhere nearby. (Their last two long-range missile tests were failures, with an attempt in the spring to place a satellite in orbit falling far short, and another long-range launch a few years ago getting less than a minute down range.) North Korea also provided some drama by sending a cargo ship, the Kang Nam, apparently carrying missiles, on a voyage to rendezvous with some buyers. Obama ordered a Navy destroyer -- USS John McCain, by coincidence, named for the four-star admiral father and grandfather of his 2008 Republican opponent -- to shadow the North Korean vessel down the China coast. Meanwhile, the North Korean ship was denied entry first by Singapore, then by Burma, and turned around. It wouldn't be hard to dismiss North Korea as a silly nation, intent on comic opera threats and easily parodied Stalinist bluster. It certainly has a pattern of acting like an attention-seeking child, albeit a particularly nasty one. But then you consider that it has the fifth-largest military in the world, and could easily overrun South Korea but for the US presence in the region. As it did in the Korean War. Incidentally, despite all the provocations, Obama apparently did not make the usual move of ordering an aircraft carrier strike group or two into the waters off the Korean Peninsula. An interesting subtlety, given the other moves that were made. Obama ordered thousands of US Marines into Taliban strongholds in southern Afghanistan in Operation Strike of the Sword. ** Obama is closely monitoring the first offensive he has ordered involving large numbers of American troops. This is Operation Strike of the Sword, involving more than 4000 US Marines and about 750 Afghan troops, as well as hundreds of British troops. They have moved into the Helmand Province in southern Afghanistan, a hotbed of Afghan Taliban activity. They have encountered little resistance, and only one Marine has reportedly been killed so far. The Marines will set up a series of bases there and pursue active patrolling with the near-term goal of preventing Taliban disruption of Afghanistan's presidential election in August. Obama has clarified that the overall goal is to deny Afghanistan as a base for Al Qaeda. As distinguished from, say, setting up a 21st century Western-style democracy. There was no bad news on that front today. And given how badly things have gone in Afghanistan in recent years, no bad news counts as arguably good news. ** Vice President Joe Biden celebrated the 4th of July in Iraq with US troops and Iraqi officials. He and the Delaware contingent of National Guard troops - which includes Biden's son, Delaware Attorney General Joe Biden - had a 4th of July party at the late Saddam Hussein's presidential palace. The security handover in the cities from American to Iraqi forces is going well. So far. Russian President Dmitri Medvedev delivered an encomium to a new friendship with America. ** Obama flies to Moscow on Sunday for his major summit with Russian President Dmitri Medvedev and Prime Minister Vladimir Putin. Obama is engaged in major preparations prior to the Moscow Summit. Word is that the US and Russia have reached tentative agreement on a plan to regularly ship military supplies - and perhaps US troops - across Russia to aid the US effort in Afghanistan. This summit in Moscow from July 6th to July 8th may be Obama's most important. It will be followed by the G-8 summit in Italy. Key issues, which of course will be explained further, involve America's role in NATO expansion and missile defense seemingly aimed at Russia and potential major Russian assistance to America's agenda in Afghanistan, Iran, and the Middle East. Sarah Palin resigning as governor of Alaska in a curious statement. ** Obama and company may also be trying to parse the meaning, if any, of Alaska Governor Sarah Palin's sudden decision yesterday to resign from office little more than halfway through her first term. Her statement was, let's say, on the rambling side. I'm being kind. Mostly because Palin bores me. Obama should be so lucky as to face Palin in the 2012 presidential election. I have a Thursday piece, linked below, which sheds some light on the chaos surrounding Palin. Compared to the other matters, Palin is strictly a sideshow. As, actually, I've been saying since she was picked, in what was a distinctly backfiring move, for the Republican ticket. Presumably, with all these far more consequential matters on his plate, Obama spent little time thinking about Sarah Palin. Now it's on to Russia, which can't be seen from Obama's house ... You can check things during the day on my site, New West Notes ... www.newwestnotes.com. More on Barack Obama
 
Alex Leo: Bon Jovi Throws Impromptu 4th Of July Concert (AUDIO) Top
The 4th of July is a hit or miss holiday. I enjoy the parades and free pass to eat nitrates, but I'm kind of over fireworks (so sad) and therefore need another activity for the evening. That, predictably, turned out to be drinking with friends. We went over to the Blue Parrot in East Hampton for sour margaritas and sweeter conversation when Bon Jovi sauntered in with the editor of "Allure." We gawked as we drank and talked about stealing various parts of his wardrobe until he got up, grabbed one of the guitars off the wall and began playing. After a brief period of tuning he put on an impromptu show that was the highlight of my sad sad life. You see, Bon Jovi was my third grade crush, the love of my young life, and considering I was just dumped, this was an excellent reminder that life has a sense of humor and we live it on its own terms or face peril (aka missing the opportunity to be five feet away from Bon Jovi). He started off with "Who Says You Can't Go Home?" that had the crowd both gaping in amazement and singing aloud at the top of their lungs. He followed up with a short rendition of "Free Bird" before trying to hang up the guitar to massive jeers. He gave in to his now raucous crowd by playing a soft and sweet version of "Dead or Alive," that I may or may not be the person screaming the lyrics along loudly to in the audio below. Enjoy! Who Says You Can't Go Home? Dead or Alive
 
Julie Menin: $10,000 for Donated Eggs: A Price for Science Top
New York has become the first state to allow public money (in this case up to $10,000) to be offered to women who donate their eggs for stem cell research. While the move was heralded by many scientists and advocates, some proponents of stem cell research along with a few bioethicists are siding with conservative groups in questioning the measure. The decision was made by the Empire State Stem Cell Board, which was granted $600,000 million by the state legislature in 2007 to devise an 11 year stem cell research plan for New York. Until now, researchers have had to rely on unwanted donor eggs from fertility clinics, which are often of poor quality and have yielded few results. [http://www.nytimes.com/2009/06/26/nyregion/26stemcell.html?_r=6&ref=nyregion] As Douglas A. Melton, co-director of the Harvard Stem Cell Institute in Boston, explained to the Washington Post: "The lack of compensation has meant it's been nearly impossible to get enough eggs." [http://www.washingtonpost.com/wp-dyn/content/article/2009/06/25/AR2009062501931.html?hpid=moreheadline] Opponents worry that the new policy could potentially exploit women who are in difficult financial straights. Thomas Berg, a Catholic priest who serves on the Empire State Stem Cell Board's ethics committee, voted against the measure, arguing: "With the economy the way it is, you don't need to be a rocket scientist to know that when a woman is looking at receiving up to $10,000 to sign up for research project, that's an undue inducement. I think it manipulates women. I think it creates a trafficking in human body parts." [http://www.washingtonpost.com/wp-dyn/content/article/2009/06/25/AR2009062501931_2.html?hpid=moreheadlines] I frankly cannot think of a more altruistic action than to donate one's eggs, irrespective of whether there is financial compensation. As it currently stands in the United States, it is nearly impossible to get women to donate their eggs for stem cell research. The lengthy process involves receiving weeks of hormone shots, followed by what can be a painful extraction process. Given that fertility clinics routinely pay women to give their eggs to infertile couples, why shouldn't those wishing to donate their eggs with the equally benevolent goal of eradicating human suffering and pain also be compensated? Furthermore, participants in medical trials are usually compensated. Why shouldn't those who choose to donate eggs for stem cell research also be paid for their time and burden? The reason New York State is even confronted with the issue in the first place is due to the years of political opposition and federal restrictions on embryonic stem cell research. In 2004, Californians voted to spend $3 billion in public monies on stem cell research, after President Bush restricted federal funding to only provide for research on stem cell lines that were in place by August of 2001. New York followed suit in 2007, with the second biggest state allocation of $600,000 million in public dollars. [http://www.boston.com/news/politics/president/bush/articles/2004/11/09/stem_cell_vote_blurs_religion_based_politics/] Nurturing advancements in the use of stem cells is crucial, however, we must be careful to ensure that state monies are targeted to the most cutting edge research and one way to do this is to permit compensation for women so that researchers get the best quality eggs. The scientific and political communities in our country should take heed not to repeat the same mistakes that were made in the last several decades with regard to cancer research. Looking back at the history of funding cancer studies is very instructive. Who can forget President Nixon declaring war on cancer in 1971? His National Cancer Act vowed a dramatic reduction in cancer cases and discovery of a cure by 1976. Sadly, this did not occur as cancer death rates have only fallen 5 percent between 1950 and 2005, due in large part, as the New York Times notes, to a lack of cutting edge research. [http://query.nytimes.com/gst/fullpage.html?res=9A00EFDD143CF937A15757C0A96F9C8B63] With the evident promise that stem cell research holds to combat diseases like diabetes, Parkinson's and spinal cord injuries, we must do all we can to promote the best and most efficacious research in this field. Relying on poor quality eggs from fertility clinics has clearly not yielded the breakthroughs we need. New York took a step in the right direction.
 
John R. Bohrer: Newark Mayor Helps Bust Drug Deal Outside Holiday BBQ Top
Newark Mayor Cory Booker is famous for his dedication, his drive and his general lack of sleep (the guy frequently whispers sweet nothings to his coffee via Twitter). He's always on. He's a pragmatist's reformer, not letting the perfect be the enemy of the good. And he's making a significant dent in Newark's crime rates... a significant and personal dent. There's that time in 2006 when he and his security detail chased down a mugger outside city hall. And today, as Mayor Booker was traveling from block party to block party, he helped bust a drug deal. Booker wrote on his Twitter page : On bbq circuit & observed a drug transaction. Officers I'm with stopped vehicle. Arrested some1 from White House Station for heroin purchase White House Station is a wealthy suburb about half an hour to the west on Route 78. The Mayor continued : Folks buy drugs in Nwk & have no idea how much violence & distruction they contribute 2.This purchase was right in front of bout 12 children From the New York State Senate to Mark Sanford and beyond, so many of our public officials have been disappointing us with their selfishness in the last few weeks. And while there are a lot of good, hardworking politicians who don't go chasing down criminals, Mayor Booker's selfless devotion to Newark still ought to be recognized. The man is three years into his first term, and only recently did he take an extended trip away from the city (and much of it was spent attending meetings for the benefit of Newark). So, thank you, Cory Booker. On behalf of everybody.
 
Lee Stranahan: No, President Obama; We Should NOT Shut Up About Health Care Reform Top
An Open Letter To President Obama From An Uninsured American. Mr. President, According to the Washington Post, you're asking health care reform advocates to stop attacks... In a pre-holiday call with half a dozen top House and Senate Democrats, Obama expressed his concern over advertisements and online campaigns targeting moderate Democrats, whom they criticize for not being fully devoted to "true" health-care reform. I was a supporter of yours in the election and for the first time in your Presidency, I'm totally and completely at a loss trying to understand your words. Like many progressives, I've tried to be patient with disappointments such as your heel dragging on granting equal rights to gay men and women or your continuation of some Bush policies. I have reserved judgment on these issues for two main reasons. First, it's still early in your term and you've done much good. Second and even more important, I felt that the single most important issue today both for my country and for me personally is health care reform. I've tried to put my money where my mouth is. I'm a video producer and a few weeks ago I embarked on a project making as many videos on health care reform as I could. I've produced close to twenty different videos on the subject, which I'll link at the bottom of this post. Most of my videos are, in one way or another, 'attacking' moderate Democrats because as I say in one of the videos, they are the people who represent the biggest threat to real health care reform for reasons both simple and obvious; people like Senator Baucus, Lieberman and the rest receive large amounts of money from the health insurance and drug company lobbyists. This is why I'm so confused by your statement, Mr. President. One of the main reasons I supported you was because I wanted to see real health care reform and another major reason was because you said - over and over - that you would stop the culture of this open corruption created by the influence of lobbyist money. A quick note about the phrase 'real' or 'true' health care reform here as well. Almost all of my videos are strongly in support of The Public Option. That was in deference to your support of it, sir. It's a compromise, however, for real health care reform - namely, a single payer, universal health care system like every single other wealthy industrialized country on the face of the earth has. But progressives have been told over and over that single payer was a pipe dream; a political impossibility. So I fell in line for the more 'realistic' public option. Now that we're seeing the compromise on that compromise, perhaps this was a mistake. Finally, a personal note since this IS a personal issue for people like me and my uninsured friend Bob Cesca, who recently urged you to 'throw down' against the corrupt and spineless politicians who are on the take. I have two kids right around the same age your daughters Sasha and Malia - Jack is 8 and Olivia is 10. My wife Lauren is three months pregnant. We live in a hotel room, Mr. President. None of us are insured. It's a risk I took because the steady job I had working in television no longer paid the bills since the TV network I worked for cut all our overtime a couple of years ago. I was working fulltime in California and couldn't afford insurance. My wife and I both have pre-existing conditions. While I'm struggling to build my video production business, I've taken the time to produce these health care videos because the issue resonates on so many levels for me and nearly everyone I know. I don't mention this for pity but to point out that producing these videos is actually a struggle which is why your words stung, Mr.. President. I believed in you and now I am not quite sure what to believe about you. It's nice that you hug people with cancer, Mr. President but we don't need hugs. Friends of mine, my family and I need the same common sense approach the health insurance that everyone else in the modern world takes for granted. Don't tell us to shut up and not take on the politicians who are paid off my the health insurance lobbyists. Step up and lead, Sir. That what we elected to do. Regards, Lee Stranahan Here's the videos     And here's a previous Huffington Post article I wrote that has another 10 videos in it. More on Joe Lieberman
 
Brad Balfour: Dancing and Singing Holiday Hosannas Through Movie Musicals Top
Okay... It's the 4th of July and the pressure's on-- Enjoy the holiday and the fireworks. Think of the country's cheer and join family and friends for a beer and a burger. Being the grump you are, all you really want is slip away into a theater and see something... But what...? Rampaging Robots? Iraq War casualties in the making...? Well, there are other alternatives such as celebrating the summer holiday through joy and celebration of cinematic musicals. On the heels (so to speak) of Lincoln Center's 50th Anniversary, The Film Society of Lincoln Center celebrates this July 4th weekend with "All Singin' All Dancin' All Weekend!"-- a marathon of American musicals spanning six decades. From young sophisticates Fred Astaire and Ginger Rogers in Top Hat (1935) to Prince dancing away with Apollonia in Purple Rain (1984), this song and dance fest offers lavish costumes, sets and elaborate performances on the big screen--where they are rarely seen-- from Friday, July 3rd through Sunday, July 5th at the Walter Reade Theater. Of the five new 35mm prints specially made for this series three include such classics as The King and I (1956) starring Yul Brynner which garnered him a Best Actor Oscar; Pal Joey (1957) with Frank Sinatra, Rita Hayworth and Kim Novak; and Carol Reed's five-time Oscar winner Oliver! (1968). Tommy! (1975), Ken Russell's cinematic fever dream of The Who's incendiary rock opera; and cult classic The Rocky Horror Picture Show (1975). From the opening film, Gene Kelly's Singin' in the Rain (possibly the greatest musical ever) to his On The Town the series offer old-school classics to rock revisionist takes on the musical like Ken Russell's Tommy (another of the new prints) and Milos Forman's version of Hair. Besides those two top-flight picks, there are some of my faves I hope to see, if not on this occasion, then hopefully next year. Blonde bombshell Marilyn Monroe and Jane Russell star in Howard Hawks' 1953 hit Gentlemen Prefer Blondes. Astaire and Rogers are also in George Stevens' Swing Time (1936); then there's Carmen Miranda in Busby Berkeley's The Gang's All Here plus one of my all-time favorite movies, Bob Fosse's masterpiece Cabaret (1972). [In addition to individual tickets, There are two different passes: a Day Pass (admitting one person to every screening on that day) or a Series Pass (admitting one person to five films in the series).]
 
Anne Hill: How to Start a Dream Group Top
Some friends and I started a dream group on a lark one summer. 16 years later, we are still meeting every week to discuss our dreams. Somewhere along the way we stopped thinking of dreams as our mind's idle chatter, and began to be deeply affected by what we found in these nighttime visions. None of us were experts. We had read one book about starting dream groups, Jeremy Taylor's excellent Where People Fly and Water Runs Uphill . Some of us had knowledge of myths and symbols, a couple of us had a strong spiritual orientation, none of us knew much about psychology. What we did in the beginning could be described as hunt-and-peck dreamwork: every so often we had an insight into a dream, but mostly it took a very long time to find any meaning at all in our dreams. Then an amazing thing happened. Those rare moments of illumination began affecting us so deeply that they changed our life paths. One of us had dreams which spurred her to become a teacher. Another started taking herself seriously as an artist. My dreams guided me to become a dream consultant. Dreams have helped us write novels, deal with family crises, find jobs, make decisions about where to move, avert health emergencies, and much more. After 16 years we all know a great deal about dreams now, and find it hard to imagine life without our precious weekly meetings. Starting a dream group is quite simple and requires no formal training. By following a few simple guidelines, you and 3-4 friends can start your own group and begin to reap some of the benefits of regular dream sharing. 1) Dream groups vary widely in structure and schedule. Once you have a core group of people, decide how often you want to meet. Some groups meet every week for around 2 hours, while others meet once a month for a longer session. With more time you can work on more dreams, but shorter, more frequent meetings give the group a consistency that deepens your work. 2) Decide whether you want to hire someone experienced to lead the group, or go it alone. Many groups pay a dream consultant to sit in with the group once a year and contribute ideas, suggestions, and different points of view. This can provided a much-needed boost of inspiration. 3) Invest in a couple dream books or symbol dictionaries. I have some favorites , but the key is to find what works for you, and not to rely on just one resource. 4) Give your new group a limited lifespan. With just 2-3 months of meetings, you will know whether the group is a good mix of personalities and styles. If conflicts come up, instead of taking all the group's time to address the issues you can simply let the term expire and the group dissolve. Then try again with a new, modified group and see if it is successful. Once you have found the right chemistry, take a chance and make it an ongoing group! 5) Go for open-minded, rather than like-minded, people. Diversity of opinion and belief is beneficial in dreamwork, as it is often the outlying perspective that produces the greatest "aha" moments in a dream. However, make sure that there is mutual respect for opposing viewpoints. Dreams always bring up our shadow prejudices, and with the support of an open-minded group, we can all make great strides in transforming these limiting viewpoints. 6) Have fun. When in doubt, focus on the beauty of a dream . Remember the teachings of Thich Nhat Hanh , and before saying anything about another person's dream ask yourself, "Is it true? Is it kind? Is it necessary?" The compassion and awareness we cultivate through working on other people's dreams will come back to us many times over as we consider our own dreams. In the end, that is the real treasure of this simple, yet infinitely complex and rewarding practice. More on The Inner Life
 
Cenk Uygur: Here's What We Know About Sarah Palin's Decision Top
There is a lot we don't know about Sarah Palin's decision to resign. But there is one thing we do know: She thought it was politically damaging. No one announces good news late on Friday before Fourth of July weekend. That is someone who is trying to bury bad news as much as possible. With Michael Jackson and Mark Sanford stories still lingering around, everyone on vacation, and as little reporters working as possible, she releases this bombshell. That's someone who obviously thinks what she is doing is not going to help her, at least in the short term. There are three main possibilities for why she did this: 1. Political Reasons She is going to run for President in 2012 and she thinks she is better served going around the country laying the groundwork for that run rather than stuck in Alaska. Plus, she already checked off "Governor of Alaska" on her resume. No need to linger. Take the short term hit on the early resignation and build for the long term move. If this is what she's thinking, then I think she made a mistake. She looks callous and indifferent to any office she holds. It makes her seem flighty and overly ambitious. Plus, does anyone have any confidence that she gives a damn about policy or making a difference? No, her main interest is plainly obvious now -- the career of Sarah Palin. 2. Personal Reasons No, not because she wants to better take care of her family. Come on, how funny does that sound? She seemed fine with juggling her family and her career when she was on a national ticket. No, by personal reasons I mean -- money. The Palins have always had an eye for the good life. This is her one chance to definitively cash in. Who knows if an opportunity like this comes along again? Huge speaking fees , book advance, etc. Hopefully, she makes the money and increases her profile at the same time, setting her up for a decent shot at the Republican primary. Win or lose, she gets more famous, repeats the cycle and makes even more bank. This strategy probably will work. Will she gain enough momentum for a decent shot at the presidency? No, this could backfire in that regard. Will she make plenty of money trying? Yes. 3. Upcoming Scandal This is always possible when a politician resigns abruptly and talks about spending time with their family. There are already rumors floating out there that there are federal investigators in Alaska already looking into influence peddling for financial favors. These stories would dovetail nicely with the "go for the money" attitude described above. She could also just be tired of all the ethics investigations when she has already checked off the "Governor of Alaska" line in her resume. It's so tiresome being in public office and trying to appear ethical when you can be as unethical as you like in the private sector. We need more information before figuring which of these possibilities (or combination of possibilities) is closer to true. But what we do know is that whatever the reason was, she gets that it makes her look pretty bad now. We'll probably find out soon enough why she was willing to take this hit at this time. Watch The Young Turks Here More on Sarah Palin
 
Francesca Biller-Safran: Fourth of July "Truly" Patriotic and Politically Significant for African-Americans Top
Fireworks this Fourth of July will glow brighter for many African-Americans who may not have not truly felt the authentic, honest brand of patriotism they now feel since Barack Obama's election. This may be just another holiday for some to get together while viewing the bombs bursting with glare; Americana is at its finest with too much good food at one seating, and the gathering of friends and family to celebrate a day that many do not truly appreciate. But for many Blacks who have felt ambivalence, separatism and exclusion; this will be a Fourth of July like no other. Just last year, I remember celebrating the Fourth when we barbequed ribs and chicken and watched Fireworks with not many patriotic feelings, but with harmless and fun festivities. As a person of mixed race, I have had many blacks since Obama's election confide in me with comments along these lines, "We finally have a brother in the White House, and that's more than I ever thought would happen." "This year I will really be celebrating," said Chris. "This day will not just be about who can cook the best steak. I'm going to make sure my nieces and nephews really know what this country means to me, a place where anything's possible." An African-American friend who manages a local grocery store still has a higher jump in his step when I see him. He says he feels somehow more like a part of America-- even though his family has been in America since his great-great grandparents came over as slaves. He said he feels as if anything is possible now that our president looks more like him, his family and the people in the neighborhood he grew up in. I have a friend from high school who feels more confident, accepted and even more fashionable and hip with Michelle Obama as First Lady, whom she said resembles her grandmother when she was young, when Blacks weren't allowed to eat at lunch counters. On the news after Obama was elected, a boy broke down in tears and was barely able to talk about how much it meant to him to see a Black man become president. He said he didn't have a father, and that no one had ever told him that he might dream to be president, because in his neighborhood, black boys just didn't dream that far. He said he dreamt of attending college one day, as no one in his family ever had, and that he wished he had known who his father was so that they could share this experience together. This is not to say in any way that life for minorities; and especially for Blacks will somehow magically or drastically change even during Obama's presidency. It often takes more than a lifetime and then some to break down the barriers and bars that have been built up to enslave and dismantle generations, movements and a multitude of stigmas and outright isolation. As an American who is a mixture of Japanese and Russian-Jewish, I haven't exactly known where to fit into society, let alone where some of my patriotism has fallen and waved from time to time. During college I was told I could only check one box when applying for scholarships, so as the savvy student I was, I always checked Asian so I may get a better chance of financial help. But I soon found out through campus politics that Asian was close to white as we were considered "smart" and "easily educated". As a person who is considered ethnically mixed, I was equally infused and confused as to my identity as where I fit into the American culture. Mistaken sometimes for Hispanic, Italian, Filipino and Hawaiian, and always allowed the wink and nod from anyone of color as I might possibly be "one of them" at least in part, I have experienced my racially diverse background as both a blessing and curse in a society that often casts the different and questionable aside. But I am not Black, and I don't assume to understand for one moment what it feels like to be Black in America, and suddenly realize that you might have a chance at a whole lot more than you ever thought possible. Every American president past has been Caucasian and bred for leadership nearly from birth. No Jew, Italian, Indian, Hispanic, Asian or Black have ever been painted by any presidential portrait artists; but this will change now. What a declaration of independence right there. Some say that a picture is worth more than a thousand words; the images of our history and present time reflect more than millions of words that can ever be printed, emailed, blogged, texted or tweeted. Images of slaves, lynching, segregation, civil rights marches, the assassination of Martin Luther King Jr., and photographs of black soldiers who were forced into wars but not allowed to sleep under shelter with their own infantry's, not allowed to vote and rationed only scraps of food like animals. The images are changing and possible images of the future are bright, untested and thus far unimaginable, just as the swearing in of a black president. "He looks like me," cried the unnamed boy on CNN. "The president, he looks like me." For Black Americans, this will be a Fourth of July like no other. The food will taste a little more flavorful, the music certainly more in tune, and the fireworks symbolizing a whole lot more while they glare brighter and stronger along to the rockets red glare and the Star Spangled Banner. The summer is better now. More on Barack Obama
 
Michael Brenner: Obama's Pattern of Accommodation Top
On issue after issue, Barack Obama has shown a strong reluctance to challenge established thinking and to confront powerful interests. Just the opposite. He instinctively tips his hat to every establishment he encounters -- be it Wall Street, the military, the intelligence community, or the health care industry. He is little more aggressive in pressing Congress. Obama is demonstrably someone whose loud bark is not followed but much bite. Retreat from positions boldly declared has become the hallmark of his administration. At times, the retreat follows brief skirmishes. At other times, it is preemptive -- prompted by skirmishes in the president's own mind. This is the singular Obama style evident on major domestic issues. The process begins with a firm statement of the problem, a clarion call for action, and a pledge to force change. Then, there is the period of eerie calm -- no plan is unveiled, no campaign strategy executed. There ensues an opaque, slow-motion free-for-all involving a fractured Congress, advocates, lobbies and the media with the White House staff operating in the shadows behind the scenes. Among the protagonists are the very parties that are the cause of the problem. The very idea of a compelling national interest gets lost in the melee. Obama makes brief public appearances punctuated by further proclamations of the imperative to act, still without any specifics or sustained effort. Whatever comes out of this muddle is declared historic and promising. Thus the ramshackle approach taken toward the financial crisis. More on Barack Obama
 
Tom Gregory: The Stuff that Dreams Were Made Of (VIDEO) Top
During the twentieth century -- before "Made in China", America produced remarkable things. Good 'ole American stuff. From blankets to cameras, paper hats to vintage jewelry, even the most common things America made were footprints of pride. Yep, from the workwear of the turn of the century, to bottles, old signs, and depression glass America had design and utility down pat. Even the awkward seventies are collectible. With the resurgence of environmentalism I've seen a vintage seventies "ecology flag" selling on ebay for hundreds while a pair of Peter Max hippie sneakers go for thousands. Time and events definitely change our perception. Just do an auction search for "Michael Jackson" to see how quickly yesterday can become worthy of collecting. One of my favorite places is The Antique Store in Bridgehampton NY. Not only do they have great antiques, but the proprietors are even able to make a pair of socks or an old piece of glass a gem of American design. In these economically skinny times, I love walking into this store just to gaze at the great displays of American collectibles. I hope someday America will move forward into yesterday to once more produce remarkably beautiful things.
 
Reyne Haines: Where to find the best antiques on the East Coast! Top
Three times a year in the sleepy town of Brimfield Mass., thousands of dealers come from across the country to peddle their wares in hopes of making a few dollars. Brimfield shows have been known to turn up quite a few prizes over the years. There are over 5,000 dealers in 20 different fields set up with fine art, antiques, collectibles and more looking for bargain hunters who are in the mood to haggle. If you are in the area this July 14-19th (and even if you're not you should make the trip!) take a drive over to Route 20 -between exits 8 and 9 off the Massachsetts Turnpike - and see what goodies you can find. Then come back and tell me all about them! Happy Hunting! Reyne Haines
 

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