Crowd funding groups offer opportunities to minority groups, investors and the needy

[caption id="attachment_22092" align="alignleft" width="480"] African-American owned business[/caption]

Marsha Hunt----Over the years minority groups and women have long struggled to gain a foothold in the world of business.  In a world that for many years has been dominated by men with money, mostly white, having an opportunity to work for oneself, or to develop a lasting business, has been difficult for those coming from behind.  On the other hand, in recent years there have been new organizations and agencies that have developed ways to increase opportunities for those who haven't had them in the past, and the following is one of them.

An annoucement was made in 2013 by Crowdfund Mutual (www.crowdfundmutual.com) to launch January 2014 what they define as "a rewards-based crowd funding platform, focused on uniting communities sharing common values."

They went on to describe the background for the formation of this venture as this:  "In January 2014, the long overdue rules enacted by the 2012 JOBS (Jumpstart our Business Startups) Act will be in full effect. The Securities and Exchange Commission, after 18 months of sleeping on the job, recently issued the long awaited proposed rules that would allow small businesses to use crowd funding portals to sell interest in their ventures in order to raise capital.

Why is this critical to business across America? Crowd funding gives entrepreneurs in communities that have historically been over looked by Venture Capitalist and Angel Investors, such as women and minority owned, as well as Hispanic and African American businesses, an opportunity to fund start-ups and raise capital for high-growth companies that would not qualify for traditional funding."

These new rules in place are said to allow new businesses to raise up to $1 million in capital from a broader pool of support, investors who are allowed to provide funding through crowd funding portals.

"Communities that are not participating in today's alternative financing environment and instead taking a back-seat or standing against the wall are doing themselves a great disservice," said Kimberly N. Evans, Crowdfund Mutual CEO.

But rewards-based platforms that only offer some type of non-financial reward in exchange for a monetary donation won't provide sufficient motivation for continuance.   That's how Crowdfundmutual.com says it differs as the corporation says it "will offer an upgraded platform later in the 3rd Quarter of 2014 to "include equity and debt financing options."

Crowdfunding's successes and ability to secure both the interests of business and the public have made a great contribution in the economy.  At the same time, the funding activities and organizations, in reaching out to the general public, has snagged a volume of people of disparate interests and limited needs that from time to time can overcome the system as it occurs in social media.  People who have a struggling online newspaper online site request funding, sometimes largely for overhead that exceeds the usual and customary salary and profit of profitable newspaper enterprises.  Others may seek funding for a book that contains good ideas, and the particular dreams and ideas of the author that may or may not rise to the level of funding needs.  On the other hand, crowd funding groups have allowed people with serious illnesses to pay medical expenses they otherwise could not manage.  So there is both a positive result of these funding efforts, as well as a downside where the individual attraction may be more for the greedy than the needy.

But like every new venture, it's always good to do a through investigation of a resource like this and observe a track record before becoming too involved at the outset, still this new opportunity, if successful, can provide wide opportunities for many people who have been left out.

Economic chaos created by credit card holds related to fraud

 Credit cards are a convenience but using them is sometimes a problem when a hold is put on them to prevent fraud.[/caption]

They had just returned from a nearby city when they learned that a credit card transaction had been declined.  After making inquiries, it was learned that the company had put the card on hold because the amount being charged was an "unusual amount" which required it be flagged for potential fraud.  The hold had prevented an urgent bill from being paid, holding up a major shipment of personal goods.  It is another way the fraudsters have created problems for the general public.

According to a businessman associated with a major moving company, this type of action occurs frequently, about one-third of the time when dealing with a customer.  A credit card is declined because the amount is too large or unusual, out of the ordinary for a particular customer.  This means it is likely other companies and private citizens experience the same issue, while the use of a credit card becomes increasingly difficult during special times or emergencies.

Credit card organizations, including banks and credit unions, have learned that unusual amounts of money might mean credit card theft.  If Joe Smith ordinarily uses his card to buy gasoline, take his family out to dinner and buy the occasional bouquet of flowers for his wife on a special occasion, a thousand dollar charge might trigger suspicion that his card has been stolen.  So if Joe were to be stranded in a city far away from his home and had an emergency, needing to use his credit card might be difficult because of the geographical differences as well as any significant amount different from his usual spending habits.

Hotels typically put a hold on a credit card of an amount that is anticipated for a room charge.  This only impacts individuals nearing their credit limit, however.  With debit cards, the problems can be multiple.  For example, if the card is stolen, then it is possible for the thief to liquidate much of an account before being caught.  Furthermore, if the amount of the hold is close to the balance in a checking account used for the debit card, that might disallow additional transactions following the original charge.

As fraud and identity theft continue to expand, and large organizations find themselves as victims of hackers, more and more people are experiencing problems using credit cards.  The protection is often to put a hold on the card for those unusual amounts, and whereas it is an inconvenience, it is a protection as well.   It is when the customer is not advised and finds a credit card purchase denied that the need for emergency use can override the feelings about protection.  Finding that balance continues to be a problem for both the bank and its customers until some way is found that allows flexible use of credit while at the same time the safeguards that keep people from being victims.

Multilevel marketing in American consumerism may offer hype instead ofhope

Hawaiian Noni juice is among those products that have been sold through multilevel marketing.

Carol Forsloff----Most people have been approached by a friend or relative to purchase a product or join a community based upon recruiting others to purchase and to become a member as well.  Many companies have flourished with multilevel marketing as the method of advancing sales, yet at the same time many have failed to meet the expectations of those entrepreneurs and others, offering instead more hype than hope.

Amway is one of the long-standing brands of the grand companies who have brought people together to sell goods across wide sectors of the population.  The offer to become one's own boss is an appealing one, as folks flocked to make it big on the bet they could sell products and recruit friends and relatives to become members of the Amway family.  The business has flourished, as many people have come and go, hopeful folks made happy at times with the income that could be made.  But still others found after awhile people lost interest, and the pyramid business began to dissolve or break apart for some individuals, even as the company prospered overall.

The old saying of "Be Your Own Boss" continues to be the motto for Amway, as the company maintains the market is not saturated; and there are plenty of opportunities to make money by working from home and offering a product line that folks have found now have real value.  Amway products are seen in factories, hospitals and in offices around the country, where its cleaning products have proven worth.

Some of these eager entrepreneurs have this to say about being an Amway distributor: "If you want to use the other 8 hours to make more money, but aren't sure where to start, I strongly suggest you look at Amway or even another network marketing company. Why? It is the easiest and quickest way to start your own business. You can read all you want about starting a business, but it's different when you actually have your own business."

Since Amway has been around since the 1950's, it has its fans and followers, even as it has expanded markets in other places outside the United States, like China, for example.  It took patience to gain a foothold in China, where the business model seemed suspicious at first to China's leaders.  In 2006, however, after China had dismissed the company's methods and business model, it has now allowed Amway to develop a distributor network that is making money for its members.  In fact, China is now its largest market with 237 shops and 160,000 distributors contributing to the annual income of the company in the country which Bloomberg reports at $3 billion.

But Amway has its detractors as well.  One of them had this to say: "Truth: You need to do your own price study to determine this for yourself. Whether it is termed "buying at retail" or "buying at wholesale" it doesn't really matter. What matters is the price you get for the quality and level of service you expect. My price study showed I would spend up to 43% more using the Amway network than by shopping at local Charleston, SC discount stores. "

Xango is another multilevel marketing group that is a bit late to the party for those interested in the concept of selling directly and becoming a distributor.  It has, however, been assertive in its efforts to entice customers, with some of its distributors describing mangosteen's anti-cancer benefits and others health benefits so strongly that the compay was sent a warning about making health claims that could not be substantiated.  It is often those health claims, and similar ones made by other companies touting vitamins, special juices and other products that the medical community has been concerned about.  In addition, there is usually a strong emphasis made by those selling these products that those benefits have been proven by users, as at meetings their stories of health problems and disabling conditions being turned around are the enticements for new members.

Xango's official response to the FDA warnings has been to remind people of its website statements: "Research shows xanthones possess potent antioxidant properties that may help maintain intestinal health, strengthen the immune system, neutralize free radicals, help support cartilage and joint function, and promote a healthy seasonal respiratory system," states XanGo Juice's web site.

This footnote is added: "These statements have not been evaluated by the FDA. This product is not intended to diagnose, treat, cure, or prevent any disease."

Problems related to multilevel marketing have caused some states to issue their own cautionary guidelines, to prevent distributors from making oral claims about benefits that supplement written material that overstate the benefits of particular products.  The Illinois Attorney General offers the following advice for anyone seeking to join a multilevel marketing organization:

• Obtain the names of at least ten other investors and discuss with these investors their experience with the plan and the promoter.


• Obtain specific proof of income representations.


• Obtain specific proof that you will have a good market. Get all verbal promises in writing.


• Ask for copies of the company's business and financial statements.


• Determine all costs you must pay. Do start-up fees pay for such things as training, sample products, literature, or display materials?


• Find out if the company will buy back your inventory if you decide to quit.


• Talk to local business people who are familiar with the product and the market before you decide to invest.


• Always consult with a private attorney or certified accountant regarding the specifics of the plan or concerns about the contract.

Given this guidance, and the experience of others, good business sense means to do the investigation of a company in advance, so when nephew Johnny tells you of the miracles of the product he is asking you to buy, then to join and sell yourself, you will be aware of the benefits as well as the pitfalls of the business and decide for yourself it is hopeful or simply hype instead.

Citizen cooperation urgent re climate change, humanitarian crises

It was more than a decade ago, when Al Gore sounded the alarm on climate change. Global warming may have been a misnomer to some, but scientists declared then that if the nations of the world did not act in reducing carbon emissions, there would come a time when there would be no turning back, and environmental disasters would create widespread humanitarian crises. The urgency for doing something to reverse the impact of climate change, however, is undermined by politics, resulting in continuing inertia in responding to what scientists now tell us can no longer be ignored.



What Al Gore labeled “An Inconvenient Truth” is far from just inconvenient, scientists remind us. It is a truth that requires action and actually might be better termed “ugly” more than inconvenient.



The United Nations released a report on global warming a few days ago with the details that are another reminder of the grave consequences of doing nothing about the environment right now. Scientists say,“The evidence is overwhelming: Levels of greenhouse gases in the atmosphere are rising. Temperatures are going up. Springs are arriving earlier. Ice sheets are melting. Sea level is rising. The patterns of rainfall and drought are changing. Heat waves are getting worse, as is extreme precipitation. The oceans are acidifying.” 



The dilemmas in reducing carbon emissions involve the need to maintain a growing world population which requires energy sources. It takes more energy to plant food as the numbers of people to feed increase. Transportation needed to take goods from one place to another means additional fuel. Many human needs require energy sources, these needs coming at a time when possible options either take too much time and resources or would cause environmental problems as well.



While conservatives scoffed about climate change, and it became fashionable to make fun of Al Gore rather than focusing on the urgency of agreements that might have reduced pollution levels sufficiently to make a difference. Despite the warnings of scientists, people maintained it was either God's will for the earth to be destroyed or if climate change was occurring it this was simply part of an ongoing pattern that has been going on for thousands of years.



The argument against the scientists' predictions was the accusation they had been based solely on financial gain for themselves and their research. Politicians countered claims of man-made climate change with the opinions of scientists who disagreed with their peers. These disagreements helped to convince some people and confuse others. The man in the middle was immobilized by the divisions, so the tacit decision left was to go with the most emotionally rewarding notion in the short run, that man's activities could effect little change on what was foreordained by God or the ordinary course of climate changes that had occurred since earth's creation.



The apathy and ignorance, and the lack of willingness of politicians to take responsibility means the inevitable consequences of environmental disasters scientists remind us will create humanitarian havoc in the days and years to come. They tell us that the environmental upheavals will take their course, and that we have not seen the worst. But this declaration of inevitability simply cements the apathy, for if there is nothing man can do, the best thing might be to protect oneself as much as possible financially and to enjoy the moments now. That too is no good answer.



The blame has not been shouldered responsibly in ways that create action, although there is enough blame proverbially to be passed around. While progressives point to environmental challenges that must be met by changes, few agree on what they need to be, outside of the reduction of pollution levels that contribute the climate change. Without the knowledge, and acceptance, of individual responsibility; the problems may not be solved simply at the top.



While the news media reports, and the governments wrangle, the scientists and the people in the middle hold the key not to finger pointing blame but to future practice that will involve every citizen who wants to stay alive and who wants the generations to come to have a peaceful place to live. It is a shared responsibility, shared by folks of all political persuasions and religious beliefs.



Yet while the Democrats recently spent an evening in a talkathon on what to do about climate change, Fox News continued its denials in the same pattern as has occurred in more than a decade. With Fox the more popular channel, it is likely convincing the masses will be difficult to do. And when politicians offer laws and orders, the inability to accept the problem of climate change will likely result in continued inertia and the march to environmental chaos. For it is not a political problem but made one by those whose vested interests in the status quo outweigh the needs of the people most likely to be hurt in the humanitarian crises that scientists tell us will occur as a result of doing either nothing or not enough.

Senior disadvantage can occur with reverse mortgages

Single elders sometimes opt for reverse mortgages

Whether it's Robert Wagner or another aging movie star, the message is the same: a reverse mortgage benefits seniors and offers the aging population a special advantage.  It is said to have been a gift from Ronald Reagan to help seniors stay in their homes, but the effect is to have created problems for many older citizens.

The reverse mortgage advertisements maintain that seniors can continue to stay in their home and receive a loan on the equity they don't have to pay back.  The problem is that the do have to pay it back, in ways and at times that can seriously hurt the unsuspecting senior.  Many of these people are seeking less to enjoy their retirement, which is the message given by the television spokespersons, than to have enough money to live on in those advancing years, when costs are higher because of medical needs.  And it is at that time that the reverse mortgage ends up being a disadvantage that comes at a time when seniors can least afford to lose anything.

Mildred is in her early 70's, sharing her residence with an adult son and his girlfriend.  She has a line of credit in the form of an ongoing loan against her property.  Her income had been so meager there were few options other than to see a reverse mortgage.  Like many seniors she was faced with financial emergency, unable to work because of physical ailments and without the income to sustain her.  While she continues to live in her home, the disadvantages of the loan might not be apparent now but could end up being a problem for her as she grows older and needs assisted living and both her and her son face a debt neither may not be able to repay.

In 2012 the New York Times examined the concept of reverse mortgages, pointing out these involve significant risk for older persons, a risk that can cost them their homes.   These loans are sold aggressively, using well-known movie stars that seniors would recognize from their youth.  The charm of the spokespersons coupled with the message that the money comes as a virtual benefit to seniors has brought a wave of response from unsuspecting elders who are seeking simply to stay in their homes, even as the cost of maintaining those homes while facing physical vulnerabilities that come with aging becomes more and more difficult.

Many of the big lenders have dropped out of the reverse mortgage business, leaving the door open to predatory lenders who look for the vulnerable senior as an easy target for seductive advertising claims.  While the business of loaning money under the reverse mortgage is legal, and protected by laws designed to offer seniors some protection, some of the wrong people have entered the reverse mortgage business in ways that can harm older folk.  Many of these lenders say the senior will never lose their home, a deceptive sales pitch since there are conditions when the loan is made. These lenders persuade the older spouse in a marriage to be the sole borrower, so the other spouse is not on the deed.  Then when the older person dies, the loan becomes due.  Brokers are sometimes given incentives to promote lump-sum loans as opposed to a line of credit, so the fixed rate and interest charges can over time become a debt load that often comes at a stage in life when the senior has less money to pay the loan, especially since the owner is required to pay taxes, insurances and other fees to keep the home.

Forbes has examined the problem of reverse mortgages and offered some of what they call "the hidden truths" about them.  For example, the notion that a person cannot lose their home is untrue.  When an elder has to move into an assisted living situation, the loan becomes due.  That puts the senior at a particular disadvantage, since the costs of care are higher when an individual can no longer live independently.   Anyone else living in the home is forced to move.  Furthermore, the family members are left to pay off the loan when the elder dies if they want to keep the home.  If taxes and home insurance premiums aren't paid, the resident can lose the home as well.

What's the answer to the problems caused by reverse mortgages.  Forbes explains that this type of mortgage should be taken only as a last resort.  Many seniors become desperate and look for the reverse mortgage to help pay for their last days, but the cost of assisted living and 24/7 care can exhaust the loan amount, forcing the senior into poverty at a difficult time.

CNN Money points out that new rules have made reverse mortgages safer but that there are still problems with them.  The new rules discourage seniors from taking a lump sum payment.   Still the loans are actually expensive as the fees and costs for a $200,000 loan can be as much as $15,000.  In addition the lenders also charge a monthly service fee and interest of about 5%, so the lump sum mortgage balance of $100,000 CNN offers as an example can double the debt in 11 years.

Often the senior takes a reverse mortgage thinking it is the best way to get ready cash to live out those senior years in comfort.  The problem is the expense of the loan and the conditions make it not a good option for everyone.  Experts say a senior should consult an attorney or accountant before signing up for a reverse mortgage, as the cost of the professional services in advance might end up saving a senior's home and future.  In other words, if something looks too good and is sold as having no strings attached, the final advice is to look for other options or another, more reliable lender who will disclose the problems as well as the benefits along the way.

Best life lesson from seniors is not to stay in a job you hate but do what you love instead

Office workers often aren't happy with their jobs

A research study that surveyed 1500 seniors found their best advice for how to live your life was not to work at a job you don't like for a lifetime. Yet many people do, and very often, folks say the reason they stay at a job isn't the money.  So what is the key problem and what do the experts say people should do when it comes to the workplace issues?

Ken Pillemer, Cornell professor and author of 30 Lessons for Living: Tried and True Advice from the Wisest Americans found the seniors' best advice was to do what you love for a living and not to waste life and time doing what feels like a trap. 

Many Americans feel the same way. Surveys indicate people 70% of Americans don't like their jobs. In July 2013 Gallup found that folks for the most part are either unhappy or disengaged, and that even more money and work benefits don't seem to improve their feelings about their jobs.

Poor management is said to be one of the leading causes of worker apathy, unhappiness and disengagement with respect to their jobs. At the same time, workers also often state they could do a better job than the boss.

Does this point to a generation and more of bad managers or is it some other issue that might be driving the numbers of people who express discontent with their work?

Authority is questioned repeatedly by the press and the public, while the public questions the press as well. All over the world various countries see challenges from citizens with respect to their governments. There have been uprisings in Egypt, Libya, Syria, and other areas of the Middle East, even as the inequities are often shown to be an issue; however, in France people complain about their government as do most Americans and many other people in the developed countries. In the underdeveloped countries the complaints may seem larger, however the angry and bitter remarks hurled from one leader to another and the population to its respective leadership has been growing around the world.

The questioning of authority does not end with government, however. People question whether or not doctors have the interests and skills to treat various ailments and therefore turn in increasing numbers of alternative medicine instead. The blame game includes many professionals, as folks seem to find something wrong with authority figures in many occupations.

Perhaps some of this behavior comes from the patterns set by the boomers whose very mantra was not to trust anyone over 30. Now they are over 30, and they are not trusted themselves. Still the criticism finds its way to the “other” which might be the President, the local politician, the medical community, lawyers or the individual manager who represents controls and rules that are part of what rebellion against authority figures.

“I could do better,” people say, but it is often found that most people, when given the opportunity to lead end up with some of the same issues, where former co-workers rankle about the new boss.

There are personal factors observed in the research material about the characteristics of those who most question authority. Research has found those who feel strongly that authorities can be wrong are more willing to be defiant as a result. In addition those who see humanitarian values as universal are also more willing to question authority than those who don't hold similar values. People who stand apart in social circles are almost more apt to question authority. Those with moderate religious values are more apt to be obedient, while those at the extremes, right or left, are more willing to take chances and therefore more willing to chafe against authority. On the other hand, strong conservative Christian values are coherent with obedience to authority, while the less religious in contrast are among those who offer resistance when they believe their humanitarian ideals are being undermined.

Should we question authority? Many of the experts say yes. And young people respond affirmatively in debates and discussions. Questioning authority is said to be the hallmark of learning, of creative endeavor, of sparking ideas. Yet should this be true in the workplace? Does the same level of questioning and the reasons for it extend to one's boss.

Experts tell us questioning the boss is risky business, although people should not shy away from leaving a job with a particularly toxic employer. On the other hand often it is the worker who has been in a job to meet the new manager's request to do something different in the company with the statement, “But we've always done it this way.” The advice is not to present oneself as someone who knows more and who is resistant to accepting new ideas. 

While people may distrust the company and may be apathetic toward the boss, and even fellow co-workers, what alternatives should folks seek if they don't like a job. It is often that question that is the most difficult to answer, as people search for those answers often and come up short when they do. Finding that perfect job may be difficult, if not impossible, so for those looking to make a change, is it the same profession with a different manager that might be the answer or a whole different direction for work?

The best advice, seniors remind young people, is to follow the adage once given in a well-known vocational counseling handbook, “Do what you love and the money will follow.”

Never a borrower nor a lender be remains good advice for individuals and nations

Christ ejecting money lenders

Shakespeare's advice, given via his play Hamlet through the character Polonius who offered it as his son Laertes was leaving to go to the University in Paris, remains cogent for individuals and nations much of the time, for it is too much borrowing and lending that offers crises from which many can't recover. There are, however, exceptions.



Scientists tell us loaning money to a friend is a bad idea. Why? For as we observe in Shakespeare's lines from Hamlet, the rest of the quotation about borrowing and lending says “For loan oft loses both itself and friend.”



What scientists tell us is there is “mental malfeasance” when it comes to remembering to repay or how much to repay and when. As Benjamin Franklin said, “Creditors have better memories than borrowers.” Research in 2012 verified Franklin's and Shakespeare's advice and admonitions.



Researchers that included psychologists George Loewenstein of Carnegie Mellon University and Linda Dezso of the University of Vienna asked 971 people to describe their experiences both as borrowers and lenders, then wrote up their study called “Lenders Blind Trust and Borrowers' Blind Spots: A Descriptive Investigation of Personal Loans” that was published in the Journal of Economic Psychology.



Trust agreements are difficult to maintain because people who are borrowers and those who are lenders seem to have differences in perspectives about the loan itself, who initiated the idea of it, the elements of repayment and what might happen if the loan is not repaid.



Lowenstein said this in an interview with ABC News, “Everyone suspects, and many people have their own personal experiences, that personal loans are a risky endeavor. People tend to process information about interpersonal interactions in a kind of self-serving fashion. We forget things that are inconvenient for us, and that's true of loans.”



For most of the history of Christianity, usury, or the practice of lending money with interest, was forbidden, based on scriptural admonitions from the following sources among others:

“Ex. 22:25 If you lend money to my people, to the poor among you,

you shall not deal with them as a creditor; you shall not exact interest from them.”

“Deut. 23:19 You shall not charge interest on loans to another Israelite, interest on money, interest on provisions, interest on anything that is lent.”

“Psa. 15:1, 5  O LORD, who may abide in your tent? Who may dwell on your holy hill? … (those) who do not lend money at interest, and do not take a bribe against the innocent.”

 “Luke 6:34 If you lend to those from whom you hope to receive, what credit is that to you? Even sinners lend to sinners, to receive as much again.”

Yet Christians have adopted the view that loaning money is not a negative or violation of scripture so long as the interest is not excessive. This ability to develop and maintain a practice that can often be harmful not just to the lay community but to faith groups as well is part of the compromises people make in the modern world where eclecticism practices become part of religion. In other words people may ignore the scriptural prohibitions against borrowing and lending, yet maintain the sacraments and other practices. Some church leaders have underlined concerns about this, as the issues of loaning money often enter spiritual events and create problems. 

Usury in the modern world remains a problem, however, with what agencies like the Department of Justice underlines are predatory loan practices.  Like the money lenders that Jesus threw from the temple, they tend to prey on the poor.

Robin A. Brace of UK Apologetics responds differently to the issues of borrowing and lending among people of faith. Brace says that “generally speaking, it is wise to avoid borrowing and lending yet, in some circumstances, Christians would be eager to lend to a Christian brother or sister who needs a little help; in such case, no interest should be charged. That is good and fine. But we also should note that our modern western society functions in such a manner that, unless one is wealthy, borrowing or lending cannot always be avoided.”

The United States has been a borrower from China. Uniquely these nations are not friends, although they have reached a level of amicability in many areas, so that tourists freely travel throughout much of China, and Chinese tourists visit the United States. On the other hand the two nations have different financial institutions and governments that don't always agree on the nature of how things should be done. While China has been a good resource for loans, what might happen if that financial relationship becomes strained as a result of some political event? It is likely that both nations would look for ways to enhance positions, which means the potential of non payment of the loan by the United States and some financial retaliation by China that might reverberate badly through the American economy.

But there are two points of view on this subject. Rick Newman of U.S. News.com tells us that borrowing money from China in the manner the United States does is not necessarily a bad thing. For example, investors buy bad debt all over the world. China does this as a financial ploy to earn money in the way other investors do. Newman goes on to say that “buying U.S. Debt gives the Chinese no control over the U.S. Economy. In fact, strong emand for U.S. Debt by Chinese holders pushes long-term interest rates in the United States lower, because more buyers means the price—the interest rate paid by the borrower—goes down. That, in turn, pushes down rates on mortgages and other types of consumer loans, which are closely linked to the rates paid on U.S. Treasuries.”

International transactions and personal ones where borrowing and lending take place offer challenges. On the other hand, the risks and compromises are said to be part of the modern world's way of making money work. Yet despite these risks and compromises most people agree that borrowing and lending in close relationships is fraught with difficulty, even though sometimes it may appear to be economically just, and that the old advice of “Never a borrower nor lender be” is good advice for most situations.

Fortune telling, repairing shoes, and selling bread: How to survive hard times

Fortune telling in Singapore

20 years ago a man sitting on Jackson Square reading tarot cards offered what he considered sound advice for getting through hard times.  Originally from Russia, where he had been a circus performer, then trained as a technical support person with computers, he had lost his job and like others in the same position had to find some way to make a living.  So he and his wife opened up shop telling fortunes in many languages on a street corner in New Orleans, making what he observed was a good living doing what he said people in Russia did during post-World War II hard times.

Edward R, whose name has long been forgotten in the years that have passed since a journalist watched and wondered about how a man of obviously good intelligence ended up on the streets of New Orleans reading tarot cards.  His lesson on re-inventing oneself, however, is timely and appropriate, in spite of the years that have passed since Russian hard times and how much jobs have changed.

What Edward said was this:  Those who told fortunes, repaired shoes and sold bread were the ones who survived economic hardships.  These are, of course, concrete suggestions, but on another level they are symbolic of what someone needs to do in order to make money when the economy is in crisis.

Telling fortunes with tarot cards is a skill someone can learn in a matter of days, if not hours, at least with an instructional guide.   Someone who tells fortunes must show some level of accuracy, and to be accurate must be observant of people behavior.  That way the fortune can match the person.  Most people enjoy knowing something good but more than that something he or she believes is particularly special and secret.  When that secret is revealed, then the magic becomes real.  The fortune teller looks at facial expressions, clothing, and listens to introductory remarks as well as observing other details that might include the behavior of the person's companion, the style of speech, and even the way an individual holds the body and gestures.  All of this adds up to good generalizations that might fit almost anybody but become more tailor-made by the fortune tellers ability to analyze the appearance and behavior and provide that good fortune for the customer.  But more than just fortune-telling, it is what it represents that matters.

The fortune teller offers hope, the ability to unlock secrets, to bring something somewhat mysterious and different into everyday life.  That fortune teller can be the inspirational speaker, musician, poet, teacher, counselor who has thethe art ability to use the best of the fortune teller qualities to enhance existing skills and get the job.  The motivator, the person who says he or she can help you when everyone else seems unwilling to try, and that offers a different way of doing things can often be the individual hired for the job.  The fortune teller is also entertaining in a creative and different way and gives people something they can take with them.  Entertainment that offers good memories, something to savor at the moment and then again later, is often the kind people look for when they have little themselves, as it offers an escape.  So activities that allow people to experience diversion from their everyday lives can often lead to a profitable enterprise.

The person who repairs shoes represents those businesses that accent retaining and reusing materials.  Second hand stories even in uptown neighborhoods can prosper during hard times as people look for bargains without having to spend as much money.  That designer dress that is not affordable new can be found somewhat worn but still attractive. So chic can mean a dress at a second-hand store.   The chair outside the antique store might need a new cushion, so those who sell fabric and easy instructions for recovering furniture can also be successful in hard times.

Finally those who sell food, especially the basic necessities, are clearly in demand much of the time.  When times are hard, however, those basics are the first items people look for in grocery stores.  Folks will reach for the bread and rice and potatoes that can fill the stomach and not harm the pocketbook.  Special breads that offer a special taste but still aren't expensive can do well.    But those who sell bread are more than just sellers of bread.  They represent folks who offer items people need frequently and must have in order to survive.  And they offer the fundamental items that are particularly important when people can't afford luxuries.

The wisdom of the fortune-teller offers advice we can all use during hard times.  In his case, his grandmother had once told fortunes in Russia; and she had helped support the family during hard times.  Using his wisdom others can find economic justice and that special niche to survive and even prosper.

Rate of unionism less than at any other time since World War II

Construction workers, some no longer unionized

Rate of union membership has declined precipitously over the past several years and now is estimated at 11.3% of workers.  This is true even as wages have declined in relationship to purchasing power and the gap between rich and poor continues to rise.

The South and parts of the Midwest and the Southwest show lower patterns of union membership than the West Coast and Eastern States.  The minimum wage rates are also lower, and the rates of poverty are higher in the South than any other part of the country.

These trends are thought to be caused either by the negative attitudes of employers or the higher costs of union dues, but the ultimate conclusion, according to BizJournal, is that the trends are troubling for American workers.  It is also troubling for economic justice.