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Archive | 2011

Never be unemployed again – Spanish speaking Anglos (caucasians) are always in demand.

Over 40% of New Mexico’s population is hispanic, with many speaking Spanish as their primary language, according to The Economist magazine, September 11, 2010, pg 35 "The law of large numbers: the hispanicisation of America"

Similarly, 30% to 40% of the population of California, Arizona and Texas is latino.

Suprisingly, 10% to 20% of the population of Washington, Illinois, Oregon, Idaho, Utah, Illinois, New York, Connecticut and New Jersey is also hispanic.

Many hispanics tend to prefer Republican politics as of late, but anti-immigration sentiment is pushing many back towards Democratic candidates.

Now, human migration is something that is difficult to contain. Eventually, people just migrate. Fences, attack dogs, barbed wire, guard towers and infrared equipped helicopters may slow down migration, but eventually, if people have to move they just move, is my take on the matter (you are free to disagree!).

In late 2005 (contemporaneous with the birth of my first child) I decided to "fix" my Spanish abilities. Learning Spanish will make you "recession proof", I believe. I think that a bi-lingual person will always be able to find employment, even if not "translator" fluent.

Spanish is a wonderful language. I often now prefer to speak Spanish. It is logical and regularly follows its own gramatical rules. It is straightforward to spell and write in Spanish. I like to say that Spanish promotes literacy, whereas English almost discourages literacy.

Here is my recipie for Spanish:

Spend one month in either Antigua, Guatemala or Granada, NIcaragua, studying four to six hours per day, one on one with a teacher at Ixchel Spanish School (Antigua, Guatemala) or Roger Ramirez’s One-on-One Tutoring, in Granada, Nicaragua.

Usually, it is about $100 per week for twenty hours weekly of one-on-one teaching, or about $150 weekly for six hours daily totaling 30 hours per week. This is really the best way to learn.

You can arrange (sponsored and arranged by the school) for room and board with a local family, wherein meals are usually provided six days per week, breakfast, lunch and dinner. The cost for room and board is usually $75-$100 per week, room and board (no joke! it really is that inexpensive!). However, you should tip your homestay family and your teacher at the end of your stay maybe 10% to 25% of your expenditure, but tips are not required.

If you are a big eater, or want a bit more meat, you can arrange to pay a little more to your family, or supplement a bit by eating out.

After you return home, you should search out a local tutor for weekly two hour sessions for about a year. I would write short stories in Spanish, and then my teacher and I would correct and re-write the stories.

You should also subscribe to National Geographic in Spanish, and force yourself to read every issue and define the words you do not know, writing the definitions in the margins.

For fun, you can pick up "people en espanol" magazine.

Pike Place Market in Seattle has a newstand which usually carries a nice selection of foreign newspapers. ISimilar my use of "people en espanol" magazine, I used to buy one every month and read it – looking up and writing in the margins the definitions to unfamiliar words.

I know that many of the readers of this blog might find this far-fetched – after all, there are mortgages and car payments to pay and if facing unemployment, funds can be thin.

However, I can think of no schooling course or training course which will help you to better "stand out from the crowd".

Anglos (caucasians) who can speak Spanish do so well in the workplace and interview process because they are not "immigrants" to the American way of doing things. Spanish speaking Anglos fit well into business organizations and understand employers’ expectations and can provide nuanced service. Clearly, an immigrant speaking Spanish as a first language and later learning English can learn to fit well into an enterprise, but Enlish is so darn complicated and hard to read/write that immigrants struggle with English.

Spanish is a great language – it has a huge and rich vocabulary, and can express many things better than can English.

Challenge yourself to meet the demographic demands of a changing America – learn Spanish – you will never regret it….and say goodbye forever to the unemployment line.

“Anchor Babies” – Some higher thoughts.

With every recession or crisis seems to come increased anti-immigrant sentiment.

I have blogged my thoughts on being careful about such sentiments – examining why we would come to wish to exclude members of our community.

When times were booming, the anti-immigrant sentiment seemed lower…now it seems higher.

Here are some more thoughts from the August 21, 2010 edition of The Economist, page 24:

Only about a sixth of the countries in the world practice "birthright citizenship". The US adopted it originally to end slavery, making anyone born in the country "subject to the jurisidiction thereof". Sadly, this was also a clause also then meant to exclude sovereign Native-American tribes and is today still used to exempt the children of foreign diplomats from becoming American citizens.

By 1982, the US Supreme Court had ruled that people who entered illegally were still subject to the "subject to the jurisdiction thereof" language and standard. A recent Pew Hispanic Centre study found taht 8.0% of the births in America are to illegal immigrant parents.

The "Anchor Baby" syndrome may be a false alarm. ONly about 4,000 people per year escape deportation because they ahve children who are citizens; the foreign parents of Americans can only be considered for citizenship once their child turns 21.

Many wealthy Asian and Latin American women do have "Anchor Babies" – but do it legally with a Visa. A firm in China charges $14,750 for three month stays in America to give birth – but the mother has to arrange her own Visa – per the WAshington Post.

Changing the rules to exclude Anchor Babies could be difficult. It may require an amendment to the 14th Amendment to the Constitution. A majority of two-thirds of the House and Senate must ratify a constitutional amendment along with three-quarters of the state legislatures.

Legislation by Congress to exclude from citizenship babies born to illegal immigrants would conflict with 1982 US Supreme Court precedent.

The anti-"Anchor Baby" provisions seem unlikely to go anywhere.

But this debate is potentially socially damaging. Do we want to futher talk about creating two classes of citizens?

Has anybody read Dr. Suess recently? Ever heard of the Star-Bellied Snitches?

Two “levels” of birth certificates?

The New York Times reported on January 5, 2011, of a growing movement that seeks that states will issue two different types of birth certificates.

If this movement gains sufficient steam to obtain amendments to state laws, then the states will grant a “Class A” birth certificate to children who have parents with legal residency papers or who are citizens.

A “Class B” certificate will be issued to children whose parents are both undocumented.

This would seem to be at odds to the 14th Amendment to the Constitution which grants citizenship to anyone born on American soil.

Gabriel J. Chin, a law professor at the University of Arizona is quoted in the NY Times as saying “This is political theater, not a serious effort to create a legal test….it strikes me as unwise, un-American and unconstitutional.

The 14th Amendment, adopted in 1868, was a repudiation of the Supreme Court’s 1857 ruling in the Dred Scott v. Sanford decision. The Dred Scott ruling held that people of african decent could never be citizens.

The US Supreme Court affirmed the 14th Amendment in 1898 in the case of US v. Wong Kim Ark, interpreting the citizenship provision to apply to a child born to Chinese immigrants.

Tea Party member (Arizona representative Duncan Hunter) said in the NY Times quote: “And we’re not being mean…we’re just saying it takes more than walking across the border to become an American citizen. It’s what’s in our souls.”

See NY Times, Wednesday, January 5, 2011, page A1, by Marc Lacey. “On Immigration, Birthright Fight in U.S. is Looming.”

Credit Cards: Additional things to think about before getting a new credit card – Preventing trouble

I have another post "Credit Cards: Things to think about before getting a new card…"

But here are four more things to think about – and probably these are the four most important TIPS anyone can offer when obtaining a new credit card.

– Look for the grace period – Credit cards DO NOT HAVE to offer a grace period during which you can pay off credit purchases (paying it in full) without incurring finance charges. Note that cash advances usually don’t ahve a grace period. Without a grace period, finance charges begin accruing immediately and a low rate may actually be higher than it looks.

Under the new CARD Act of 2009, lenders must mail your credit card statement at least twenty-one days before the end of the grace period. Of course, a grace period that is even longer is more beneficial. If you are running very close to the deadline, you might consider paying, at least for that month, over the internet or by phone. Under the new CARD Act, a lender can only charge you for paying by phone if you need the help of a live customer service representative.

-Watch out for bait & switch offers – Some credit card leners will send you an offer advertising a low-interest credit card wtih a high limit. However, nestled in the fine print in the offer is a less attractive, more expensive card if you don’t qualify. The substituted card often has a higher interest rate, more expensive fees, and/or a lower credit limit. If what they send you is not what they advertised to you, send the card back, certified mail, return receipt requested, along with a letter explaining your rejection of the card.

-Review and compare – BEFORE you send back the credit card application make a photocopy of the front and back of the application including the "disclosure boxes". When you receive the credit card, then compare the new disclosures you get with the card to the credit card application disclosures and make sure that they are the same.

-Cancel the credit card if you discover terms you don’t like – You don’t need to keep a credit card if you don’t like the terms. If the lender changes the terms for your card, you have the right under the Credit CARD act to reject the changes and close your account. If you have used the card you need to pay off the blance.

Many thanks to the National Consumer Law Center’s "Guide to Surviving Debt", available at www.consumerlaw.org for only about $20.00. You should also consider taking a look at our sister website www.life-after-bankruptcy.info.

3% Drop in Bankruptcies reported January 5, 2011 – Seattle Times

December 2010 bankruptcy filings decreased 3% nationally as compared to December 2009, with 113,000 bankruptcy filings in Dec. 2010.

There are about 90 bankruptcy districts in the nation.

There was a similar decrease in filings October 2009 to October 2010.

The nation recorded about 1.55 million bankruptcy filings in 2010, an increase of 8.0% from 2009.

There was an increase of 32% from 2008 to 2009, and a 33% increase from 2007 to 2008.

The number of filings in 2010 matched that for 2004.

The West, however, indicated ongoing growth in filings, with Hawaii up 22%, Utah increasing 19%, California up 19% and Arizona up 18%.

Bob Lawless, a University of Illinois College of Law professor believes that the slight decrease in filings might be a reflection of the increased difficulty in obtaining credit advances over the past couple of years.

As reported by Make Baker of the Associated Press, See The Seattle Times, 1/5/11 Page A-9 Business.

Unemployment up in two-thirds of metropolitain areas re: November 2010

Unemployment rates rose in more than two-thirds of the nation’s largest metro areas in November, a sharp reversal from the previous month and the most since June.

The Department of Labor recited on January 2, 2011, that unemployment rates rose in 258 of the 372 largest cities, fell in 88 cities and remained the same in 26 cities. That was worse than the previous month, in which rates fell in 200 areas.

Areas with weakness in the housing market are seeing growing unemployment e.g. California, Nevada, Florida and Georgia. Las Vegas, Atlanta, San Francisco and Miami also saw increases in unemployment.

November 2010 unemployment rose to 9.8% from 9.6% over October 2010.

Many laid-off workers are giving up on job searches.

Washington may have made some small gains during this time period, but remains at 9.2% unemployment for November 2010.

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Lukewarm recovery will continue; no significant decreases in unemployment for 2011 or 2012.

[categories: Washington Bankruptcy Attorney]

The Seattle Times, Kristi Keim, page A13, January 14, 2011:

The U.S. is expected to chip away at unemployment only very slowly reports Michael Dueker, Russell Investments’ head economist for North America.

Usually, a recession is followed by a fast snap back to growth, as happened in the early 1980s. The economy grew 7.0% annually for the next year and one-half. This is not happening, says Mr. Dueker, and it will take all of 2011 to get the unemployment rate reduced by a mere 1/2 percentage point.

In contrast to slow U.S. growth, the world economy is expected to grow at 4.0% to 5.0% this year.

Ken Goldstein, an economist with The Conference Board, notes that the U.S. will grow only 2.5% this year and 2.6% in 2012. Confidence in the economy is a major problem, according to Ken Goldstein.

Commercial Real Estate: Looming crisis or are fears overblown? – the John Hancock Tower deal vs. Stuyvesant/Peter Cooper. One worked, one failed.

Boston’s John Hancock Tower, a 62 story glass skyscraper in Boston’s Back Bay was one of the first commercial real estate trophies to run into trouble when the speculative property boom abruptly ended some two years ago or so, according to the NY Times, December 30, 2010, article "A Real Estate Trophy In Boston is Sold", by Charles V. Bagli.

Bought at foreclosure sale 18 months ago for some $660.6 million, it was just recently sold for $930 million.

Commercial buildings have recovered some value.

In 2009, the owner had defaulted on 472.1 million in secondary loans, but the first mortgage remained current. The secondary loans were bought for about 30 cents on the dollar.

At the foreclosure, Normandy/Five Mile were the sole bidders on the second mortgage, paying about $20 million and taking on the senior mortgage.

The Hancock Tower had been valued at $1.35 billion in a 2006 purchase, more than double the 2003 valuation incident to a then sale, at $639 million. 82% of the purchase price was debt in the 2006 purchase.

Not all commercial properties have recovered so well. A similar attempted workout of Manhattan high rise apartments known as Stuyvesant Town and Peter Cooper Village failed, and the properties are now controlled by senior lenders through CW Capital. William A. Ackman of Persing Square Capital Management and Michael L. Ashner of Winthrop Realty Trust failed to gain control of the large complex, after investing $300 million in secondary debt for $45 million.

US Trade Deficit Narrows in October but still huge! Little improvement in manufacturing exports – recission will linger.

The New York Times reported on December 11, 2010 "U.S. Deficit in Trade Narrowed In October" by Christine Hauser that there is one small bright spot.

The Commerce Department reports that the trade gap was $38.7 billion in October 2010. the smallest since January 2010, when it had been down at 34.8 billion.

A trade deficit forecast of $43.8 billion had been forecast for October 2010, so the numbers were better than expected.

The narrowing was due to an increase in American exports. Most of the increase in exports was agricultural goods like food (soybeans to China) and some gas and oil sent to Mexico.

Unfortunately, there was no big increase in manufacturing exports, so while this narrowing deficit is good news overall, it is not as good as one would have hoped. Manufacturing increases are desirable, as this decreases unemployment.