To summarize the discussion, there was much knowledge lacking in the basics of how a home is purchased and how financing works. While I openly admit I am no expert in the financial or real estate fields, terminologies such as ‘mortgage’, ‘adjustable rate mortgage’, or ‘down payment’ escaped my audience’s understanding. Her belief was that the real estate brokers and loan consultants would explain to her everything she needed and everything she did not.

This belief, while holding some truth to it, is partially what got millions into the current financial crisis. While there are good, honest brokers and consultants around, there are just as many more who are in for a quick buck. You will hear all that you need to hear in order to make the transaction legal; but that is just about all you will hear about too. Mortgage brokers are sales people despite their business title. Their job is to sell. Arguably, they may have a moral obligation to tell you what risks you face in due time; but as far as their job really entails, they do not. The ultimate responsibility lies in the individual for completing due diligence. After all, the only one who gets hurt in the long run, is the individual.

All in all, I am guilty for having discouraged my audience on her lofty dream of purchasing a home in the San Francisco Bay area but I do hope that she realises that there is much she needs to learn before taking a plunge as big as a home, especially here in the SF Bay area where prices are well above a middle class family’s means. Any misstep can and will put one into financial bankruptcy.

Dream lofty dreams. But tread carefully.

In general, we wear our success stories
on our shoulder while we hide away our failures. The image presented
to those with no past knowledge is one of perfection.

Is that truly the case?

No one successful has ever been successful without having been
met with failures at some point, especially major failures.  The difference that determines whether one becomes
successful or remains a failure is how the failures are dealt with.

Giving up in face of failure leaves one without hope and a low self worth,
subject to be pushed around by the turmoils of the world around. On
the other hand, admitting failure but choosing to learn lessons out
of it gives strength, wisdom and power to control destiny.

A pretty good example I often hear.
Imagine the world today had Thomas Edison given up on the electric
lighbulb? He failed 10, 000 times in his quest to make the electric
lightbulb. 10,000 failures but he did not give up. Instead, he kept
detailed notes of his methods and kept pushing on the next attempt.
Had he given up after his fifth attempt, tenth attempt, 100^th
attempt or even his 5000^th attempt, we might very well
still be holding candlesticks or oil lamps. In Edison’s mind, each
failure represented knowledge of a method that did not work. Each, to him was a new lesson on how a bulb would not work (see how wording changed the scenario?)

In each failure lies a lesson to be learnt
In each obstacle lies an opportunity
Let not a temporary defeat define your destiny
for in doing so, you have sealed your fate.

You can’t lend a hand when your hands are tied.

That’s over 10% of the entire Schwab employee workforce - all out doing something in the local communities.

San Francisco, alone, reportedly took about a thousand employees (Schwab is SF-based). Taking over the AT&T park for opening speeches and breakfast, the mass event itself dragged out SF city mayor, Gavin Newsom, to give his appreciation speech (a little drunk-sounding, probably from the City Hall event the night before). Nonetheless, it had been a great way to give back to the local communities.

Not counting the monetary compensation Schwab has on its payroll for the time taken off, the impact of the work done by these many pairs of hands for each organisation accounts for weeks of normal volunteer effort and savings. Publicity-wise, there isn’t exactly too much considering many groups were confined to local vicinities in small areas. Business surely isn’t main attraction here on these chosen organisations. These aren’t affluent golf tournaments where potential clients congregate at. Perhaps tax-savings helps from the monetary donations the firm puts in for each helps in offset costs in some ways.

Total estimate of the aide-day, probably $500k to $1mil. including employee compensation, event costs and the monetary donations. Rough estimate. Could be a lot more or less.

Kudos for organising and giving back regardless. Organising anything of the likes, does take lots of effort.

Side thought: 10% of the workforce is a scary number to think of in terms of client-impact. But most participants aren’t direct client-facing employees.

And now that I have this nice notebook with nice smooth paper to write on, the notion of a terrible handwriting smearing its pages takes out any enthusiasm in writing in it. Instead, thoughts and ideas are scribbled in various forms of writing material wherever blank space is available.

Great.

Just why bother with spending much on the notebook again? Glad I hadn’t made the plunge into a new pen too.

Note to self: next time, check the Japanese stationary stores. There are better notebooks with better paper and cheaper prices than Moleskins. Plus, their lines are always the exact size I want.

Rather, the same fate to be. Once again, a presidential election plagued with grievances. Does it even matter that this was supposed to be democratic? On paper, it does. In reality, it means next to nothing. Until a truly honest politician manages to gain the favours of the military parties, there will never be a real democratic way of life in this country. Oppressors will continue to oppress. Bullies will continue to bully. And history will once again repeat itself.

It did not matter then that in 1993, MKO Abiola won the presidential election fair and square, far more popular than his opponent. It did not matter any more than he was a nuisance that had to be rid of. And the ruling power did. Nulled the election, imprisoned him for treason against the government did they. Abiola died in jail a few years later without ever acting as the real chosen president. It probably won’t matter today who was voted in by popular votes either.

Sometimes, I wonder if autocracy is really a bad thing. At the very least, the country stands a better chance of order and structure of power. Where structure is neither accepted nor in well-thought, nothing will ever be fair. Any that can consequent stands an almost guaranteed chance of being skewed in favour to select few, most notably, the already-in-place oppressors. Democracy as it is in Nigeria, has yet to exist.

Source
…. one can’t help but chuckle…

 Shift Happens

A simple breakdown:
Spend $30 billion on new computer machines. Intel (or AMD) and computer maker get orders to fulfill in addition of putting that order onto their revenue balance sheet (looks nice, doesn’t it?). To fill orders, the companies would have to either KEEP their workforce or else hire more if insufficient numbers on the workforce. These companies in turn, need parts and resources from other vendors who then now have the trickle effect of the demand and the deadlines to produce. Boom. More jobs created. More with stable jobs = more consumer spending. More consumer spending = economy keeps going.

Simple logic that teachers have long preached way back in high school or under. Rebates are nice at the personal level. But if the aim was for saving the economy, work from the larger angle please.

Approval ratings and political crap.

EDIT: Figure estimates have been released. Individuals are to be expecting roughly $600; married couples roughly $1200 and additional stipends based on number of kids up to about $300 per child. The fine details are still on the table. Checks are somewhere to be expected in May. Figures are larger than expected by my earlier estimates. The check sounds nice with the figure. I am wondering on how taxes will be paid on them.

My check is still going towards paying my car loan. Guess I am not going to be using it to ‘help’ out the economy much. I am UN-patriotic …by being financially responsible.

Curious little skittish guy. Always a good smile when seeing these little fellows.