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August 23, 2008

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The bad idea that is most relevant to my current life is, "Complaining that your field of expertise is being off-shored, and waiting patiently to be laid off." A lot of my professional colleagues feel a sense of entitlement to their jobs, and are not motivated to take sensible actions to retrain or reposition themselves before the inevitable happens. While it's true that the new global economy is behind a lot of the problems in the local labor market, it's also true that professionals who get complacent and let their skills get stale put themselves at risk. I can't understand the combination of whininess (about H1-B visas for example) and complacency.

While carrying unnecessary debt is a bad idea, so is a refusal to acknowledge reality about the income side of the equation. The combination is especially scary. I fear that some of the folks who will be laid off are carrying jumbo mortgages on houses with negative equity.

Very good points, Alison. Our generation ought to know by now that no job is guaranteed for life. A cousin of mine hired by IBM in the 80s was shocked when her whole division was sold and her IBM ID taken away. Forty years ago an IBM job was like tenure at a university.

And I'm reading a memoir by a professor who had tenure for fifteen years at the University of New Orleans. Her house survived Katrina, and so did her job, sort of, but all tenure was just stricken off the record. Nobody had tenure anymore. She relocated and started over in her mid-50s.

Being flexible and adaptable is a crucial survival skill.

"Being flexible and adaptable is a crucial survival skill."

But maybe not one possessed by the best people.

I think things like persistence, steadiness, long-standing friendships, a sense of geographic place, and loyalty can be very, very positive.

But if everything is fluid, and one is rewarded for being able to roll with the punches, where does that leave these things?

In a vortex of savagery.

Also, student loans are the most sadistic form of financing education ever! A few months ago I saw a headline that read: "Democrats Tackle Student Loans." So I thought, "Good! Finally this terrible system is being done away with!" But no. The Democrats were merely raising the limits on what students can borrow!

Buying groceries on a credit card is a good idea _if and only if_ the card balance is paid off in full each month. We've been doing that for ten years. Gives us 60 days free credit and keeps the balance on our interest-bearing "working account" as high as possible for as long as possible. It does require discipline, though.

None of these items is ALWAYS a bad idea. And some people smoke cigarettes in moderation for the length of their long, healthy lives. Not all smokers get cancer, emphysema or heart disease.

After I posted my list, I realized people might argue that they have done any one of these under controlled, planned circumstances, and they were fine. I am sure this is true. I think that it's still a good idea to bear in mind that most of this behavior is generally a bad idea.

The groceries example - if, like Miche, you're playing with your credit flow in order to win points or whatever, and you're disciplined enough to pay off the bill without incurring charges, good for you. People who are desperately broke, in over their heads, and use credit to pay for basic necessities are in financial trouble. Buying food on credit just digs the hole deeper. If you have to do it to survive for a short time, well, you do what you must.

But in general, it's a bad idea to borrow money from the bank to fund your basic living expenses.

I was googling around, and came across a nostalgic hand-written poem in Arabic on your site "Elias+Poem.jpg". Its beautiful! I read somewhere while surfing your blog that u need help translating?

The people should have to think it twice before getting into a deal. Make sure that the institution you are transacting with is a good one and doesn’t make fraudulent actions. There’s nothing wrong with No Fax Payday Loans. The issue here is with the consumers. As with all kinds of loans, the person obtaining it should be responsible enough to keep his or her end of the agreement. That way, problems wont arises. Dept when used properly can help you secure your financial future. The convenience of a no fax payday loan is a quick and painless solution to your problem of unexpected expenses arising every now and then. Giving the opportunity to understand, http://personalmoneystore.com/moneyblog/ provides more information about the frequently asked questions about this article.

Why would I want to borrow money from an anonymous, online institution whose flacks cannot even spell DEBT properly?

This comment speaks for itself. Let the buyer beware.

Leila, F. Scott Fitzgerald couldn't spell, either.

I'm sure taking out a "No Fax Payday Loan" is an excellent idea for most people.

F. Scott Fitzgerald had copy editors. We have spell check.

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