Friends and Finance

My life has been blessed with a myriad of wonderful opportunities and experiences. At the core of many of these amazing encounters has been the presence of incredible people, people that I am lucky to call my friends. Most of my friends fall between the ages of 23 and 27. We are relatively new to the workforce or finishing up our education. We are optimists. Being raised in times of relative prosperity and comfort has made us soft and naïve and very unprepared for our current economic climate. We all assumed that upon entering the workforce we would be overnight successes. Armed with our often expensive, and equally often mediocre educations, we took on the job market and the world.

This last year, and last few months in particular, has been disarming for us all. This dose of reality, known in the media as the economic crisis, has changed our concept of reality. We are not nearly as assured in our ability to conquer the workforce as we had been. Instead, we consider ourselves lucky to be employed. A number of people in my group of friends are now unemployed. We have also learned that we cannot depend on the government. Because of the government, we will probably never see social security and we are becoming further entrenched in debt with every passing day. The one thing that has become apparent during this difficult period is that we can depend on each other.

I do not know if psychological or sociological studies exist studying the impact recessions have on social structures, but I speculate that any such study would reflect that during periods of recession, people become closer and more dependent. Merely as a means of developing connections and pursuing fiscal opportunities, networking becomes increasingly important during more challenging times. Having emotional support during these periods is also a necessity; people need each other. We bolster one another when the economy’s infrastructure bows under the weight of a strained market. In some ways, this is the silver thread that lines all periods of distress.

Especially of late, when so many of us are guilty of distancing ourselves from our surroundings through the use of i-pods and cell phones, the revival of human connection is powerful. When we are forced to cut back on our spending, we exchange new gadgets for picnics with friends, people over property.

Hopefully, as we rejoin humanity on a more personal level, we will exchange ideas, giving rise to a new generation of products and innovations that will generate a rebirth of our economy. Through conversations and relationships we will create a world rich in funds and equally rich in friends.

The Advancement of Anti-Semitism

I remember a debate I had about four years ago with a friend of mine. I saw anti-Israel sentiments as being akin to anti-Semitism. He challenged me saying anti-Israel inclinations are a response to political affiliations and opinions. Conversely, anti-Semitism is flagrant bigotry. I understood his slant, but could not get myself to agree with him that anti-Israel sentiments are valid. To me, anti-Israel persuasions would inevitably lead to anti-Semitism, so how could I sanction his belief?

Recently, anti-Semitism and religious intolerance have become increasingly pervasive across the globe, infiltrating societies in the Americas, Europe, and Asia. According to the Anti-Defamation League’s survey, released 2/10/2009, nearly a third of the European population blames Jews for the global economic crisis. Currently topping China’s best-seller list is The Currency War, a book describing how the Jews are planning to take over the world by controlling and manipulating the global financial system. In Argentina, anti-Semitic incidences have increased by over 35% since 2006. Even the world’s leaders are promoting intolerance. Venezuela’s Hugo Chavez, in today’s Washington Post, is being accused of advancing anti-Semitism in Venezuela by continuously singling out the Jews. On a government website, Venezuelans are even told to boycott Jewish owned businesses and seize Jewish-owned property. Former Malaysian Prime Minister, Mahathir Mohamed has said, “The Jews rule the world by proxy.” And just today, UK foreign office diplomat, Rowan Laxton, was arrested for his public anti-Semitic tirade, during which he was heard shouting, “F-king Israelis, f-king Jews.” Some witnesses have claimed that Laxton also lashed out, saying that Israeli soldiers should be wiped off the face of the earth.

I did not want to be right; I wish had I been proved wrong. But now, four years following our friendly debate, the unfolding of history has validated my postulation. Hugo Chavez has incited anti-Semitism through his anti-Israel propaganda. Chavez has assaulted Israel’s reputation with a barrage of incendiary statements, forcing the Israeli ambassador to Venezuela out of the country. The 1/30/2009 attack on the Tiferet Israel Synagogue in Caracas, is said to be a result of Chavez’ anti-Israel doctrine. Similarly, UK diplomat Laxton was incited by his abhorrence of Israel’s actions in Gaza.

Hate is festering and proliferating under the guise of anti-Israel, political affiliations. And for the first time in my life, I fear for the safety of Jews throughout the world. As a hub of tolerance and a pillar of humanitarian consciousness, I encourage Americans to get involved and help fight the brewing anti-Semitism. Encourage your friends to look beyond the political climate in the Middle East, and recognize the challenges facing the Jews throughout the world.

In our recent landslide presidential elections, the American people showed that we are ready for change. In that vein, let us work together to change the way that Jews are perceived and treated. Let us affect the world’s conscience because we can!

Senate Approves Stimulus Plan for Squanderers

Great news for the US! The government is going to save and create a combined 4 million jobs through its new stimulus plan. Our economy can undoubtedly benefit from this influx of job opportunities, seeing as how unemployment rates are reaching startling highs. And with the government’s smart spending habits, these 4 million jobs can be guaranteed for the low price of $838 billion!

I’m no expert, but this does not seem to be a good deal for taxpayers. While I acknowledge that the US is in dire need of some economic stimulation, how can the government continue to generate imprudent spending packages? As a country we are already steeped in incredible debt, with the government having incurred nearly $11 trillion in debt as of 2/10/09, about 5.5 times greater than our GDP. Dividing the public debt among all US citizens, each citizen shares in approximately $35,000 of the government’s debt. As a country, we are already facing nearly $3 trillion in personal, consumer debt. It would be irresponsible of the government to continue spending existing and imaginary tax dollars even in a burgeoning economy. But during an economic recession, when an increasing number of taxpayers are finding themselves unemployed and are reducing their spending, there is no excuse for uneconomical and unreasonable spending.

I appreciate that Obama and his administration speak of ensuring full government disclosure and bringing an end to business as usual. But business is as usual on Capitol Hill. We are all witnessing Congress’ continued pork barrel spending and deficient decision-making. How can the Senate justify its actions?

Is the government really blind to their errors? Do they not recognize that with the auto bailout, for example, they virtually threw away $17.4 billion? The government could have allocated that money to fund low interest loans for people looking to finance the purchase of a Ford, GM, or Chevrolet. These low interest loans would have encouraged the purchase of US cars and would have helped the US auto industry generate a positive cash flow. Instead, potential buyers are still unable to finance the purchase of vehicles; US auto manufacturers continue to experience a negative cash flow, and taxpayers owe another $17.4 billion.

Spending money does not solve anything. Spending wisely however, can help stabilize the economy. Too bad no one on the hill seems to be sensible enough to recognize the value of smart spending.