Sunday, December 26, 2010
It's been a while...
Monday, August 30, 2010
Laid up a little for a couple of days. I found my soapbox!
I just have a couple of quick thoughts I wanted to get off my chest as I am recovering from an excruciating neck and back of my head injury (not quite sure what it is from, I did feel horrible after my 10 miler Tuesday (got the shakes and all kinds of bad stuff), but it’s been a week and I am really tired of it). But anyway, I have some thoughts about constitutionality and the role of the Federal government.
Why is it that Tea Party “Patriots” all talk about the intrusion of the Federal government and the un-constitutionality of certain programs; especially when it comes to things like Social Security, Medicare and the recently passed Health Care Law? Now, I admit that I am no “credentialed constitutional scholar, but it seems that these folks stop at “We the People” when they read the Constitution. In the Preamble, the Constitution furthers 6 goals of the Federal government; well really five and by performing those five, the sixth comes along with it. “…In order to 1) form a more perfect union, 2) establish justice and 3) ensure domestic tranquility, 4) provide for the common defense, 5) PROMOTE THE GENERAL WELFARE (emphasis mine) and 6) secure the blessings of liberty to ourselves and our posterity. Now Joe Miller, Republican Senatorial candidate from Alaska can see no constitutional standing for Federal entitlement programs in the constitution. By providing a safety net to people who need a hand up (unemployment insurance for folks who are out of work due to no fault of their own, social security for people whose retirement savings were wiped out in the capital markets decline of 2007-2008 and even access to preventative medical care to catch medical problems before they become big medical problems) aren’t we promoting the general welfare. If people can earn a living wage, won’t crime rates fall, neighborhoods be kept safe and won’t our economy expand as workers are now confident that they will be able to keep their jobs and they will again be the drivers of demand in our economy? I spoke about stimulus and such in a previous post. Anyway, when you frame the discussion in the “general welfare” clause of the Preamble, doesn’t that give you constitutional authority?
And now, about Federal income taxes… A progressive income tax is the only way to go here. Everybody in this nation has certain necessities of life that are required just to live. Every working citizen gets taxed at the exact same rate on the income necessary for those basic needs of food, shelter, retirement (social security) and medical care (Medicare/Medicaid). If you make more than the amount necessary to cover those bases, you get taxed, at most, at 39.8% (after expiration of the 2003 tax cuts) only on the income above what you need to live. Economically speaking, the only time you would ever be deterred from making more money is when the marginal income tax rate is greater than 100% (that situation in which it would actually cost you to work more). So, the argument that allowing the tax cuts to expire is a disincentive to business growth is false on its face because you still get to keep over 60% of what make. I also spoke about the false narrative regarding the 2003 tax cuts in a previous post. Now the real question to me is why isn’t anyone else looking at it like this?
Tuesday, August 24, 2010
You get to think a lot over 20 miles
With all the running I am doing lately, I have had the opportunity to think about possible solutions to moving the nation forward out of the economic quagmire in which we find ourselves. First, I will talk about immediate things to stimulate the economy, how some plans are just plain wrong and finally, a long term solution to properly incent capital formation, stabilize job creation and eventually balance the federal budget. As many of my faithful readers will recall, I am all about teaching people to fish so they can live for a lifetime, not giving them a fish so they can eat today.
Stimulating the Economy
We need to start from an agreed upon premise that the U.S. economy is dependent upon consumer spending. We can make the best widget in the world, but if no one is buying widgets, then we might as well be pissing in the wind while widget inventories go through the roof. In the ‘80’s, the federal government drove consumer spending through a re-tooling of the military industrial complex in a strategy to out-spend the Soviet Union on defense and drive the USSR to the brink of bankruptcy. During the ‘90’s, true economic expansion through productivity gains mostly driven by technological advancements added jobs to the economy and drove per capita Gross Domestic Product at an average annual 4.5% growth rate, balanced the budget and led to federal budget surpluses. During the first decade of the 2000’s, we decided to harvest some of the growth benefits and give tax revenues back to taxpayers, in the hope that they would use those extra dollars to spur additional consumer spending and business investment. Well, under the burden of a terrorist attack, two un-funded wars and an un-funded prescription drug plan all driving federal budget deficits higher and crowding out of investments for business expansion by having cash being driven to safer, more secure investments, per capita GDP only grew at an average rate of 3.45%.
Fiscal discipline not only was thrown out the window by government, but the economy as a whole sought out ways to make a quick buck. By investing and borrowing to invest in financial assets and shortening capital gains holding periods, the markets were no longer places to stimulate capital formation for business growth; they became parachute factories, granting golden, platinum, even diamond parachutes to corporate management whose only concern was this quarter’s earnings number. The markets also gave business owners the opportunity to cash out and leave new shareholders holding the bag with no insight to what made the business marketable to begin with. This resulted in cost cutting being the primary way to drive profits; on the backs of the line employees whose jobs were sold off to cheaper markets. Investment of cut taxes in the markets also drove prices for both equity and debt securities causing the largest pricing bubble for financial assets (including real estate, equities and debt securities) in generations. As we all know, starting in 2007, it all came crashing down. While the markets over-reacted on the way up, they also over-reacted on the way down, losing 8 million jobs over a 13 month period. Businesses are still overly cautious because they have no confidence that the American consumer will come back to spending like they did in the past. In order to get things moving again, we need, yes, a REAL STIMULUS BILL. Almost a WPA for the 21st Century.
The federal government spends billions of dollars in unemployment insurance to provide a safety net to the real victims of this recession. All this spending goes on while roads, bridges, electrical power grids, water, sewer and all types of infrastructure goes un-repaired. BY employing the un and under employed in infrastructure projects, we can kill two birds with one stone. It is not the time for more tax cuts. The last stimulus bill included over $275 billion in tax cuts for people who did not really have any money in the first place. The middle class tax cuts in the ARRA went to people who LOST THEIR JOBS, for the most part. Across the country, we could start on a decade’s worth of work to repair and update the nation’s infrastructure in order to keep hold of our place as the world’s largest and most productive economy. By repairing 20th century infrastructure and building a foundation for the next century (high speed rail, green energy and agricultural advancements), we can also employ millions of workers and have the program PAID FOR with no addition to the long term debt of the nation. For every dollar that goes into unemployment benefits, the economy sees $1.67 in activity. For a 10 year, $5 trillion infrastructure package (structured with loan guarantees, direct funding for public projects and low interest loans to expand domestic material manufacturing), the economy will grow by over $9 trillion; paying for itself with increased tax revenues. These infrastructure investments will also lessen local government burdens of maintenance and will give states the opportunity to re-coup “rainy-day” funds to weather the next economic storm. Like Reagan did in the ‘80’s, we need to have government spur consumption.
Long Term Economic Stability
As I stated above, short term profits came to many Americans at the expense of long term sustainability of the U.S. economy. We need to have the capital markets return to their role as the bastion of capital formation and business expansion. To match the incentives of shareholders and management AND WORKERS, I propose ELIMINATING THE CAPITAL GAINS TAX; with one caveat: As the holding period of an equity security extends, the capital gains tax rate will fall. Starting at a rate of 40% in year one, the rate will fall to zero by the end of year 5. This will help to better stabilize the markets and have companies valued for their acumen and success, rather than just money flows. Management will be more inclined to work towards long term value creation rather than spiking quarterly profits to maximize the current value of their stock options. Also, long term value creation will best serve workers as well, since capital looking for long term returns will flock to those economies that have a strong sense of the rule of law and property rights. Long term value creation and business expansion will lessen the burden of government to provide for those needing a hand up, since they will be working, too. A lessened burden lowers expenditures, a domestic energy program lessens the need to project military power and an expanding economy raises tax revenues; all pointing to a balanced federal budget.
For the short term, let’s fix stuff; it probably should be done every 50 years or so anyway. For the long term, let’s have a long term view; because even though we are each in it for ourselves, we are all in it together.
Wednesday, July 7, 2010
Quick update
Monday, July 5, 2010
Settling in and Remembering how Old I am
I am now in week 3 of training for the next race. The Portland Marathon on October 10 is my next challenge. Even though I had a disappointing 4:13 in the Illinois Marathon, I was bitten by the bug and enjoy getting out to get the miles on and I continue to do the mental laundry when I run. Plus, I can see the improved physical condition evidencing itself in body tone, mental focus and improved endurance (in all areas ;)). I am shooting for a time well under 4 hours this time and so my training has taken on a little different approach. First, since it is summer, I have added swimming once a week (800+ meters) as well as speed work (hills (parking garages here in the flat land prairie), tempo runs and longer pacing runs). In addition, the long runs on Sundays started at 10 miles and only go up from there. Between Portland and next year’s Illinois Marathon, I hope to break 3:30 to be the Boston Marathon qualifier that I know is inside me.
I moved into my new apartment a month ago and am settling in. Waiting for the cable guy today. I am living downtown and as such, walk everywhere or take the bus (plus, it saves $150 per month for gasoline). Yesterday, I ran most of my 11 mile training run (90 degrees and 90% humidity killed me at 8.5 miles) then walked another 5 miles each way to get to the parade route. Right before the parade, we had a brief downpour so while the marching bands and politicians did not like it, the spectators (well okay, me) welcomed the rain. I then realized that after watching an Irish folk band over at the Blind Pig, that it was time for me to get some rest and I missed the fireworks. All part of remembering how old I am.
An aside with respect to remembering age and maturity: I remember when I was, oh, I don’t know… 18, that if you did not want to see someone anymore, you would just not call or respond. With age and experience come refined communication skills and a certain amount of respect for others. A polite conversation that gets the point across that it is time to move on earns a tremendous amount of respect and a walking away from a relationship, albeit pretty casual, that everyone feels pretty good about. So, why, in any higher power’s name, do the mixed signals continue to go on? Text: “I really have fun with you, you make me feel good.” Next 5 Texts: “No. Already have plans” (or something to that effect). Just tell me to leave you alone and I won’t invite you out anymore. It’s really that simple. Anyway, I still feel good about me and I have already moved on. The training helps.
The fatigue I feel today is mostly from putting 20+ miles on my feet yesterday and partly from having people aged 35 to 70 acting like 18 year olds. Say what you think and others will not have to guess. That’s something that I have recently had trouble with, but no longer. A mild relapse to come close to seeing how I really was long ago and remembering that I do not like that guy. I am back on track and back on the track. It’s good to be back.
Monday, May 3, 2010
How did it go?
Okay, so that’s over with… I had 3 goals that I wanted to reach. First, I wanted to finish; secondly, I wanted to beat 4 hours and lastly, I wanted to reach 3:30:00. I guess when you are trying to overcome the challenge that is a marathon, reaching at least one of your goals is most important. I FINISHED! I was slower than some, faster than most, but I did not beat 4 hours. At 4:13:35, I was the 665th finisher of the 2,420 that started the race. 612 runners did not finish and I did beat about 60 marathon relay teams! The average time of the finishers was 4:30:15, so I was faster than average. I never walked and the only time I cried was when I had a moment alone after I finished. All in all, a great day!
I got to sleep around 11:00pm on Friday night after the big pasta feed. We heard from the first woman to ever officially run the Boston Marathon back in 1967. She even greeted almost everyone when they came across the finish line. I was supposed to get up at 5 to make the pancakes, but I was so excited that I woke up at 4 to get eth breakfast rolling. Weather had just come through and I was a little unsure of how to dress for the race, so I just took the long sleeve tech shirt they gave us at the registration (probably not the best idea for my approach, but hey I made a number of mistakes during the day). Anyway, I got to the race at about 6:30 (an hour before schedule) feeling very pumped up. I cranked up my iPod while I stretched and then checked it in with the rest of my stuff (I wanted to run “Old School”, with no tunes) at about 7:10 and then I walked up to where my 4 hour pace group was standing. We all did a little chatting and waited for the race to start.
The gun went off at about 7:40 and since the Half Marathoners were starting with us, it took about a minute and a half to actually cross the start line. At about the 1 mile mark, it seemed that the race was going to settle into a good rhythm. I saw an old friend from over 20 years ago; which was amazing in its own right. With over 10,000 runners starting out, I guess the odds of seeing him were 1 in 10,000! We were both shooting for the same time so we ran together as best we could. Now I am at the 2 mile point in the race and I realize that the long sleeve shirt is not the right call. I am sweating like crazy because of the humidity and that means a lot more use of the water and Gatorade tables. It does help to cool me off when the wind blows, but I probably got fatigued more quickly than I otherwise would have. By checking my watch, I am clicking of the miles at about a 9 minute pace, which is just where I want to be. At 55:28 for the first 10 K, everything is feeling pretty good and now we have already gone the furthest East on the course. On to the next 6.9 miles to the half-way point!
Mile 9 and weaves through Meadowbrook Park and there are a couple of good bands playing (one rock and roll on the way into the park and a dixieland band on the way out). I see the first severe casualty on the course. One guy experienced the terrible too’s (too fast, too hot, too soon) and passed out, He was put on the crash board and had oxygen strapped to him and was being driven out of the park by EMT’s. To have that happen so early in the race was a wake up call for me; especially since I’m already over dressed for the weather. We come out of the park and get our first hand out of energy gels. At this station, they had strawberry banana and vanilla bean. Let me say one thing… STAY AWAY FROM VANILLA BEAN ENERGY GU GELS WHEN IT IS HOT OUT UNLESS YOU WANT TO PUKE ON THE ROAD! It was just not a good thing for me. Now we head back north into town and we have been the furthest south on the course and I am still feeling pretty good. At mile 11.5, we lose the half-marathoners as they head back into the Stadium and we (about a third of what we had) head back to Green Street, through campus again. The half marathon timing spot comes up before I thought it would, so I feel really good about that; especially since I am at the half-way point in 1:59:01. Everything is still looking pretty good for a good pace. Now, off to “no-man’s land” – miles 15-20.
Downtown Champaign is moving along and the Elvis impersonator is doing his thing, a little behind the tempo for “Hound Dog”, but nice, nonetheless. Coming up to West Side Park, I see the 4:00:00 pace leader moving out from me and I appreciate the road shower to help cool down. There are a couple of these on the course and they are a God-send. Now this part of the course is one that I train on regularly and so I still feel pretty good. Get another Gel at Eisner Park, but I can start to feel my pace suffer a little bit. Coming back up University Avenue, with the field thinning out, the race starts its transformation to a group effort to a personal challenge, now. Mentally, I am a little down, but I also know that at this point, I will finish. I thought that Maynard Lake was going to be the worst spot, and it was from a pace standpoint, but I think the toughest spot for me mentally was John Street to Centennial Park. I was pacing with a guy who apparently had a lot of friends on the route because a lot of folks were cheering him on and I tell you, when people cheer for one and not others, it is definitely not a lift. I got over though when I started chasing a pair of French Braids in tight shorts. I thought when I hit 20 miles and only had 10K to go, that I would feel exhilarated, but no such luck. I get here in 3:06:14 and there still is a very outside chance that I beat 4 hours, but my last two miles are at or more than 10 minutes.
The rest of the run down in Southwest Champaign is fun. While pace is slow, the fans are good. Two tables along the way are offering beer to runners. I laugh, but am not tempted too much. It took a little while to get to Mile 23 and now I am back in my old training loops. Our version of “Heartbreak Hill” is along the north side of the Champaign Country Club and we start losing a lot of runners to walking. I WILL NOT WALK! I WILL NOT WALK! That is my mantra throughout the climb and when I finally make the turn at Hessel Boulevard, I know that it is almost over. I do not have the speed I hoped I would, but I pick up the pace by about 30 seconds per mile over the last 1.5-2.0 miles.
The crowd over the last 385 yards is great as they line the chute and cheer us on. I try to sprint once I get up the driveway to the stadium and onto the field. The Astroturf feels pretty good as I keep going to the final finish. The speaker from the Boston Marathon greets each finisher and that feels great. I get my medal and I am overcome with a rush of emotions. I find the folks and greet them and get some pictures.
I then go get a banana and my gear (I can’t believe they made us walk up the stadium steps to get to where the food was) and when I then I find a quiet space and I actually weep for about 20 seconds. I am fully spent, happy, disappointed with the time, but feel a tremendous sense of accomplishment. It is at this time that I see someone in dehydration tremors being carted out by EMT’s. I am incredibly thankful for the opportunity to run the marathon and for today, even maybe for a little while longer, I will feel like I am in a select group. It’s not everybody who can complete this challenge. I am pleased that I completed it and it gives me confidence to attack other things in life because I have been on Champaign’s Heartbreak Hill and I did not stop. When my pace started falling off, I did not stop just because I was not going to beat 4 hours; I adjusted my expectations and kept on going. I kept on going and I was able to show myself that when it got really tough that I could not and would not turn to anyone else. This day, this event, was about me. Nobody was going to help me when I felt like quitting. I feel great about it, all the training in the rain, sleet, snow, heat and incredible cold. I learned a lot about training and myself. I am looking forward to the Portland Marathon this October (running with some friends there) and I am pretty sure I will run this one again. Thanks for all of your good wishes and support.
Friday, April 30, 2010
Tomorrow's the Big Day!
Adam’s Marathon Strategy:
5:00 AM – short stack of pancakes and coffee
12:00 Noon – meet family in East stands, south of 50 yard line
Saturday, April 17, 2010
It would help if they knew what they were talking about...
Thursday, April 15, 2010
Three Weeks!!!
Tuesday, April 6, 2010
Under a month to go!
Tuesday, March 30, 2010
32 days to go!
Sunday, March 21, 2010
I CAN DO IT!!!!
Sunday, February 28, 2010
Feeling Great!
- Take a rest day between 8-10 miles and then trying to run 20
- Energy gel packs are a good thing
- One bowl of oatmeal and 4 cups of coffee are not sufficient to provide enough energy for a long training run (15+ miles). If you are going to do that, be sure you have cab fare to get back to your starting point.
Thursday, February 18, 2010
Making hay while, well you know...
Saturday, January 30, 2010
Re-assessing goals and being flexible
Monday, January 25, 2010
Lost in translation?
Saturday, January 23, 2010
Training and plateaus
Saturday, January 9, 2010
Making Progress
Thursday, January 7, 2010
It snowed a lot...
• America’s Economic Situation
• Regulation of Financial Institutions and Markets
• Lowering Unemployment
• Dealing with Iran
• Health Insurance Reform
• Fighting Terrorism
• Wars in Iraq and Afghanistan
• Improving Race Relations
• Nuclear Proliferation
• Improving Education
• Energy Independence
• America’s Image in the World Community
• Dealing with North Korea
Let’s first look to where these issues overlap. America’s Economic Situation revolves around getting Main Street back to work making products that are competitive in the global marketplace, reducing the operating deficits and paying down the national debt. With an expanding economy, the financial markets will look to participate in the expansion of the economy by funding new businesses instead of tinkering with transaction structures to maximize profits at the margins. This will, in turn lead to more cooperation between Financial Markets and the Government when it comes to regulation. An expanding economy will Lower Unemployment. Fuller employment will lead to improved race relations. Competition for employees in an expanding economy will motivate employers to offer health insurance and small businesses will be dealt a stronger hand in negotiating with insurance providers as their employee rosters grow. The rising economic tide at home will show the world that we are consistent when it comes to reconciling how we may defend rights abroad and how we treat our own citizens; thus improving our image in the World Community. Much terrorism directed at the United States is driven by our foreign presence in the search of resources; primarily oil. If we are not viewed as interlopers, the motivation for hatred is reduced; in turn reducing the risk of terrorism. Iraq and Afghanistan need to see examples of success of a CIVILIAN SURGE to push economic development to turn the insurgents away from warfare as their only hope. An example of consistency between how we treat our own citizens and the face we present to the world is essential. If we can win hearts and minds by being an example instead of shoving something down the throats of a people, our stay overseas will indeed be shorter. Iran and Korea need to be exposed to the world as the oppressive regimes that they are and let their own citizens lead a domestic uprising to accomplish the change that is needed. In order for US to be the beacon of liberty and freedom in the world, we need to lead by example.
I have dealt with 12 of the 14 “National Issues” by showing how they are inter-twined with economic expansion and being an example at home. We can accomplish the 12 by concentrating on the 2: Improving Education and achieving true, long term Energy Independence. Energy Independence for the long term must concentrate on new and evolving technologies in sustainable sources. Solar, Algae, Wind, Hydrogen, Tidal Energy, Geo Thermal, Cellulosic Ethanol (corn based ethanol only drives down food production and drives up food costs) and other technologies will lead America to independence from foreign sources of fuel in the short term and freedom from fossil fuels in the long term. These technologies can create millions of high paying jobs that will MANUFACTURE products here and export them to the global marketplace. Well trained employees will earn competitive, life supporting wages with quality affordable health care benefits and those employees will pay taxes on those wages to balance the budget and pay down the national debt. To develop these new technologies and provide the manufacturing labor to build these technologies, we need a jump start. That jump start can come from billions of dollars of government co-investment in technology development, loan guarantees and technical assistance as well as looking at education in a new way. It is time to privatize the education system. Let schools compete for both students and educators. Accountability and performance pay for education systems should be based on job placement and secondary education placement; not test scores. If schools are going to be required to develop young people who compete in the global marketplace, let them be evaluated as such. A voucher program to be used at secular schools staffed by educators who have actually spent time working in the market at a job directly related to the subject matter they are teaching will help prepare students for lifetime success.
I will flesh out the details in later posts, but I truly believe that the key to solving a myriad of ills is to see where they are inter-connected and deal directly with a few issues to cure many more. Oh well, snow plow has come through, I may head to the office.