Archive for June, 2017


“[If] you have, as performers will call it, ‘f–k you’ money, all that means is that I don’t have to do what I don’t want to do.” – Johnny Carson 

The original American dream consists of the spouse, the kidlets, the house in the burbs, the dog and the cat.

And to some extent, that long-standing vision of success still rocks on.

Even though many are still grousing in this summer of discontent, what CNBC calls the “Trump Rally” continues. Since the November 8 election, the NYSE is up 13.4 percent and it has increased 6.8 percent from Trump’s inauguration in January to July 7.

More than half of all Americans are making money in this bull market. These participants comprise the Investor Class, those who buy individual stocks, mutual funds and manage 401(k) portfolios and IRAs.

The unemployment rate is down to 4.4 percent; there is a labor shortage. That means wages are slowly rising, and there are more discretionary dollars to invest.

At the same time, there is no conceivable doubt that many are destitute, enduring desultory lives, living from one-paycheck to the next just to make ends meet. These ignored Americans made their presence known in a big way last fall.

And yet there are more than just a few, who have earned their F-U Money. They are not privileged. They worked. They saved. They invested. Thank (f..k) you very much.

As John Goodman said in The Gambler, own your house, have a “couple of bucks” in the bank, don’t drink … and you have your “Fortress of Solitude.”

To Almost DailyBrett, F-U Money equates to the freedom to do what you want to do, not what someone else tells you to do.

It is more than having the means to tell some irritating superior to go out and have passionate carnal knowledge with himself/herself, but having the confidence to back up the explicative.

Your author has never been a proponent of burning bridges, no matter how good it may feel at the moment. As George C. Patton recited: “All glory is fleeting.”

There is a responsibility that comes with F-U Money.

Are you prepared for your bluff to be called? Are you really serious, because your employer may happily accept your resignation. And then what?

Retirement? Decades at home? How many trips to the overpriced, upscale coffee shop can you make before it gets old?

Keep Overhead to a Minimum

Almost DailyBrett has always asked his classes: “What are the most vital public relations of all?” The answer: Your personal brand and reputation.

In your last act as a working stiff, do you want to be remembered for using the ultimate explicative with your employer? Who wants to hire you, if later you cool off and come to the conclusion that you made a mistake?

Are you certain this temporary euphoria will not stick to you like Velcro or an insensitive tweet, when we all know that digital is eternal?

Let’s say you gave your boss the final (middle) finger, when you know — or at least you believe — you have more than adequate F-U Money. Okay, now what?

Money Magazine suggested that one must calmly calculate what amount each year + inflation will be enough to ensure a moderately comfortable life. Next, figure out how many more years you can reasonably expect to be on this planet.

Finally, how much F-U Money do you really have? Is it enough to ensure your money doesn’t run out before you run out?

One suggestion that Almost DailyBrett will make for the F-U Money crowd is to own your residence outright: No mortgage, no monthly rent. Another point is to maintain fiscal discipline and to avoid recurring payments if you can (e.g., car payments, credit card bills, furniture purchases, orange doors to store your “stuff.”) and most of all, keep your overhead to a minimum.

Can you keep driving your same car, making periodic upkeep payments? If you can, you may be able to enjoy exotic trips every now and then.

You Decide When Enough Is Enough

One major advantage of F-U Money is you have the freedom of deciding when enough-is-enough as opposed to your employer selecting the time and place to put you out to pasture. There is an eternal satisfaction that comes from leaving on your own terms, not when someone who doesn’t necessarily have your best interest at heart determines when to put a fork in you, because you’re done in their eyes.

How many people do you know, who are surprised when they are cashiered after 15, 17, 20, 30 years on the job? What these poor souls see as eternal loyalty, maybe a few in younger management may regard as stagnation.

Maybe the best solution involves sweetly telling a superior that it’s time, perhaps it is past time for you to leave. You didn’t burn any bridges. You determined when it was time to depart on your own terms at time of your choosing. You’re not bitter. Best of all, you are leaving to do what you want to do – all because you have an F-U Account.

WTF!

http://time.com/money/4187538/f-u-money-defined-how-much-calculator/

https://www.youtube.com/watch?v=xdfeXqHFmPI

http://www.urbandictionary.com/define.php?term=fuck%20you%20money

https://www.quora.com/What-is-fuck-you-money

https://www.washingtonpost.com/news/powerpost/paloma/daily-202/2017/07/13/daily-202-trump-is-the-disrupter-in-chief-in-an-age-of-disruption/5966a386e9b69b7071abcb23/?wpmm=1&wpisrc=nl_daily202

 

 

 

 

 

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“Do I consider myself part of the casino capitalist process by which so few have so much and so many have so little by which Wall Street’s greed and recklessness wrecked this economy? No I don’t.” – Senator Bernie Sanders

Ever wonder why there are so few in the street carrying pitch forks?

Ditto for nocturnal torch-light parades?

Maybe the answer lies in the fact that Wall Street added $3.3 trillion in market capitalization (share prices x number of shares) since November 8. Translated: Investors are more than $3 trillion to the better since the election.

Whatever metric is used, the stock indices are sharply upward to the right: The NASDAQ increased 28 percent since the election, the S&P 500 is up 27 percent, and the Dow advanced 20 percent.According to Gallup, 55 percent of Americans owned individual stocks, stock mutual funds or managed 401(k) portfolios or IRAs in 2016. That figure is understandably down from 65 percent right before the economic crash in 2007, but it has been steadily advancing since then.

Almost DailyBrett will go out on the limb, and will contend the 55 percent number has grown since the historic 2016  election.

Predictably, the Gallup survey revealed that 88 percent of American families making over $75,000 are invested in individual securities, mutual funds and 401(k)s and IRAs. More than half of those (56 percent) making between $30,000 and $75,000 are invested in stocks.

The survey also revealed that 73 percent with bachelor’s degrees own stocks, mutual funds or invest retirement accounts, and 83 percent with master’s degrees or above also are investing in these same U.S. markets.

When one takes a second to ponder that 55 percent of middle-and-upper income Americans are participating in stocks, mutual funds, 401(k) portfolios and IRAs, the conclusion is obvious: America now has an investor class that is growing in numbers and wealth.

What’s the alternative for those investing for their retirement, their children’s education or that dream vacation? Bank interest rates that barely keep up with inflation? Speculative real estate? Stashing gobs of cash under the bedroom mattress?

And yet there was an ill-fated movement to tarnish America’s markets, Occupy Wall Street.

And now there are efforts in a handful of progressive states to impose a 20 percent “privilege tax” on the fees of financial advisors. Hmmm … wonder if this tax will be passed onto investors, the very same people who are trying to fund their retirement or college for their kids?

Attacking The Cash Cow?

“ … You could put half of Trump’s supporters into what I call the ‘Basket of Deplorables’. Right? The racist, sexist, homophobic, xenophobic, Islamaphobic — you name it.” – Hillary Clinton.

“ … There are 47 percent who are with him (Obama), who are dependent upon government, who believe that they are victims, who believe that government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you name it … And so my job is not to worry about those people.” – Mitt Romney.

What do Mitt Romney and Hillary Clinton have in common besides being guilty of lambasting literally millions of people in one unwise campaign utterance?

They both lost the presidency.

Winston Churchill once said: “The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”

Wall Street will never be perfect. The playing field has never been flat. Having said that, far more win with stocks, mutual funds, 401(k) plans and IRAs than lose. It has been upward to the right on a jagged line since 1929.

Maybe that is the reason why America has a more-than-half of its working age population investing in global markets. And for those investing, the six-plus months since the election has produced a record modern-era, bull market for any new president.

Granted, there will be those in the streets who bode ill for American markets, favor “privilege taxes” to stimulate more compulsory redistribution, and are maybe just a tad nostalgic for the mismanaged Occupy Wall Street debacle.

Do they really want to attack Wall Street and by extension America’s 55 percent and growing, investor class heading into the mid-terms of 2018 and beyond? Are these overheated rhetorical thrusts, smart politics?

If they relish in glorious defeat, they can insult America’s investor class to the content of their bleeding hearts.

They also should consider and ponder that America now has a new quiet majority, who fund their dreams with a simple click of the mouse while watching the tickers on CNBC.

http://www.gallup.com/poll/182816/little-change-percentage-americans-invested-market.aspx

https://www.whitehouse.gov/the-press-office/2017/06/01/statement-president-trump-paris-climate-accord

https://www.usatoday.com/story/money/markets/2017/04/26/millennials-and-investing/100559680/

https://www.wsj.com/articles/illinoiss-privilege-tax-proposal-forgets-citizens-right-to-leave-1495834522

https://almostdailybrett.wordpress.com/wp-admin/post.php?post=5922&action=edit

https://www.brainyquote.com/quotes/quotes/w/winstonchu101776.html

http://www.foxnews.com/opinion/2017/07/20/stuart-varney-trump-has-already-made-america-4-trillion-richer-with-just-six-months-in-office.html

 

 

 

 

 

 

These are not the best of days for American reporters, editors and correspondents, let alone journalism schools.

The American media is running eight points behind Donald Trump in national esteem.

This Gallup result was registered before CNN’s Anderson Cooper conjured up the impression of the president taking a “dump” on his desk. Ditto for the network’s Kathy Griffin holding up the image of the decapitated head of Donald Trump.

The glory days of Walter Cronkite, Bob Woodward and Carl Bernstein are clearly in the rear-view mirror. The era of CNN and conjured presidential excrement and bloody heads are upon us.

More to the point, Newsweek ist kaputt. The Seattle Post-Intelligencer is gone. Farewell to the Rocky Mountain News, The Tucson Citizen and so many others that depended on Gutenberg’s printing press for far too long.

Let’s face it: many Fourth Estate types (i.e., reporters, editors, correspondents, anchors …) are looking for jobs, any job that keeps them in the business.

The good news is China is hiring. The bad news is China is hiring.

Should these journalists succumb and work for Chinese-government-sponsored and operated media?

Dollars are dollars. Yuan are yuan. Right?

Ketchum, Putin and $55 million

Before getting knickers in a twist or bowels in an uproar, consider that Almost DailyBrett has posed similar questions about the august public relations profession, namely Ketchum PR.

For years, Ketchum served a provocative client, Vladimir Putin’s Russia, to the tune of $55 million cumulatively. The ostensible mission was to promote the Rodina’s “economic development” and the country as a great place for “investment.” The fact that Putin was behaving as one would expect from the former head of the KGB appeared to be irrelevant to the brass at Ketchum’s New York headquarters.

Reportedly Putin eventually terminated the nation’s contract with Ketchum, which may have been a blessing in disguise for the New York based agency. No longer would they have to register as foreign agents for Putin’s public relations nightmare in which he wasn’t going to accept Ketchum’s council anyway.

The advocacy side (PR) of the great communication divide is not the only one with moral dilemmas to confront. The same applies to the objective side (Journalism), particularly with so many journalists out of work or soon-to-be beating the bushes for another job.

According to The Economist, China expanded the number of foreign bureaus for its government-controlled main news agency, Xinhua, to 162 by the end of 2011. China’s goal is to establish a total of 200 Xinhua bureaus by 2020.Considering the many American media outlets are shutting down, does the Xinhua expansion – doubling its number of correspondents — provide new opportunities for employment?

Also consider that China completed the rebranding of its television network last year and has announced the formation of CGTN (China Global Television Network) to rival the BBC, CNN and Al Jazeera to spread China’s “voice” and to “showcase China’s role as a builder of world peace.”

Just as Ketchum would be tempted to dismiss the concerns about Putin’s Russia with “a client is a client,” will unemployed or soon-to-be-out-of-work American journalists regard a potential opening at Xinhua or CGTN (e.g., major DC bureau) as “a job is a job”?

In a way that sounds just like the Yuppie Nürnberg Defense — “I was only doing it for the mortgage”  — as preached in the Christopher Buckley book/movie, Thank You For Smoking.

The author of Almost DailyBrett remembers the days at USC journalism school, and the protracted discussions about objectively and Joseph Pulitzer’s mantra of “Accuracy, Accuracy, Accuracy.”

Is Xinhua or CGTN, objective?

Are the New York Times, Washington Post, CNN, NBC or CBS objective, let alone MSNBC or Fox News? Many journalists employed by these institutions are miffed that  their “objectivity” may be somehow compromised by their employer’s corporate parent (e.g., NBC owned by Comcast).

What happens if your media employer is owned by the largest nation of earth, run by a single party, and established as part of that country’s $10 billion annual investment in soft power?

If objectivity and fairness are part of the personal DNA as a journalist, would she or he be predisposed to resign if the “editor” wanted to censure/delete submitted copy if it ran afoul with China’s policy toward Taiwan, the Dalia Lama, Tibet or some other hot-button issue for the totalitarian state?

Would the same journalist be comfortable that her or his objective copy was universally regarded as self-serving China propaganda by the vast majority of readers and viewers?

Some may be tempted to rationalize accepting a position with Xinhua or CGTN and following their “editorial” dictates as a job is job (e.g., Yuppie Nürnberg Defense).

Other journalists may not have these same flexible morals.

If the choice came down to aiding and abetting Chinese propaganda or maybe finding another job, maybe the journalist should even consider wearing a green apron instead?

“Was that a grande latte or mocha?”

https://almostdailybrett.wordpress.com/2017/05/21/has-the-media-reached-the-point-that-it-can-never-cover-trump-fairly/

https://www.usatoday.com/story/life/people/2017/05/31/cnn-fires-kathy-griffin-over-offensive-trump-photo/102349176/

https://almostdailybrett.wordpress.com/2014/07/23/russia-doesnt-give-a-particle-about-public-relations/

 https://almostdailybrett.wordpress.com/2014/03/11/ketchums-new-client-in-1938/

https://www.ketchum.com/

https://www.economist.com/news/china/21719508-can-money-buy-sort-thing-china-spending-billions-make-world-love-it

https://www.cgtn.com/

http://www.xinhuanet.com/english/

 

 

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