Category: Living

Money by Joe Wilcox
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Banks Play the Foreclosure Blame Game

Big business plays the kind of blame game that makes four year-olds crying “He made me do it!” seemingly mature. So, I’m not surprised that yesterday before the US Senate Committee on Banking, House & Urban Affairs, Bank of America’s Barbara Desoer blamed investors for the financial institution’s inability to modify more mortgages. It’s not her fault!—she claims. She makes a strange distinction between investors and shareholders, in the process casting blame as misdirection from a much larger problem: Banks and other lenders mishandling mortgage/foreclosure paperwork.

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Living by Joe Wilcox
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Should Barack Obama Bail Out Americans?

My answer is yes. Artificially created debt is cholesterol clogging the arteries of consumer spending. The economy that created the debt is gone. Only by surgically removing debt can Americans freely spend, thus pumping fresh blood to the heart of the U.S. economy. But, hey, I’m no economist, although in 2005 I rightly predicted the housing bubble’s collapse and much of the aftermath. Surely such insight is worth something.

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Living by Joe Wilcox
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Mama Knows Where to Get the Goods

What a simply smart idea—set up outside the grocery store and collect food donations for the needy. September 5, 2010, I spotted Mama’s Pantry in front of Ralph’s supermarket in San Diego, Calif.’s Hillcrest neighborhood. on. The concept of fundraising food shoppers is so mind-boggling sensible, it’s stunning more charities don’t go to the food source—the local market. 

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Photo by Joe Wilcox
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Le Soleil and Me

My cousin Dan emailed several old photos he recently obtained while vacationing in Maine. That’s me, probably age 11, but only a guess. The newspaper’s date isn’t visible. I don’t recall the photo or its taking but the shot must have been posed by either my father or uncle. I don’t read French. (Le Soleil was published out of Quebec City. This evening, a quick Web search left me wondering if the newspaper still exists.)

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Money by Joe Wilcox
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‘The China Question’ Revisited

In March 2009, I asked “The China Question,” highlighting shocking parallels between the 1920s and `00s (the “Noughties”). Both decades similarly started off and ended, with boom and bust. Other parallels show how quickly an empire collapses—the Brits during early last century and quite possibly the yanks during this decade.

I resurface the post in context of incessant chatter about China’s increasing global economic dominance and America’s growing mountain of debt. Additionally, the United States is close to entering a double-dip recession, if it’s not there already. Recent economic indicators are disconcerting. China has largely exited the global recession fairly unscathed, while the United States is an economy divided: Public companies are reporting record profits, while the American public struggles to relieve record debt.

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