Sixpence None the Richer – Breathe Your Name
Someone please help this man…
This photo just cracked me up….
Where is our Apollo program for energy independence?
In the early 1960’s America was in crises.
The Soviets was beating us in the space race having put up Sputnik, the first artificial satellite, and the government worried they would win the so-called space race.
President John Kennedy proposed a massive undertaking so that the US could put be first to put a man on the Moon, which was seen as a national security issue.
In an address to Congress he said:
First, I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth. No single space project in this period will be more impressive to mankind, or more important for the long-range exploration of space; and none will be so difficult or expensive to accomplish. We propose to accelerate the development of the appropriate lunar space craft. We propose to develop alternate liquid and solid fuel boosters, much larger than any now being developed, until certain which is superior. We propose additional funds for other engine development and for unmanned explorations–explorations which are particularly important for one purpose which this nation will never overlook: the survival of the man who first makes this daring flight. But in a very real sense, it will not be one man going to the moon–if we make this judgment affirmatively, it will be an entire nation. For all of us must work to put him there.
And in a speech at Rice Stadium in 1962 he said:
We choose to go to the moon. We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one which we intend to win, and the others, too.
The goal of being first to the Moon led to a massive national project involving thousands of people and billions of dollars and on July 20th 1969, Neil Armstrong officially made the US the winner of the Space Race.
The Apollo project wasn’t the first national project to develop something new in the interests of national security.
During World War II, the federal government hired thousands of people and spent billions of dollars and came up with the Atom bomb within 3 years. While the use of the bomb is debatable, the point is a massive effort led by the government help address an immediate problem.
Starting in the 1950’s, massive federal spending created the Interstate Highway System that was not only for economic development but also seen as having national security implications.
Why can’t we do the same for the dependence on foreign oil?
I’m not talking about welfare for oil companies or more drilling, but a massive research and development program to come up with a host of alternative energy systems for transportation, home, and business use.
The US uses 26% of the world’s oil production and it is much higher than it was during the gas crises of the 1970’s.
It has to stop and it can be stopped if we want to protect our country from our enemies.
What is wrong with Payday lending?
Here in Ohio a group funded by the payday lending business is pushing to get a measure on the ballot to repeal HB 545, which when signed in the spring capped the interest rate that can be charged on payday loans to 28%.
A payday loan is where someone needs some quick cash – under $800 – and goes to a payday lender. The user writes a check for the amount plus the fee for the loan that the lender then either cashes in 14 days or the borrow returns to the store and buys the check back. The fee amount is usually $15 per $100 loaned. It works out to be a 391% yearly interest rate.
The lenders are upset because HB 545 will cut into those fees and we’re told that they will have to close their stores – hurting the working poor who are the primary users of the service.
Pro HB 545 people counter that 391% is an outrage and the “service” can lead people in financial trouble into a worse cycle – needing to get more loans to pay off the previous ones. They equate payday lenders to predatory mortgage lenders that have caused all kinds of economic issues for many people.
I sit in the middle of the debate. Both sides have good arguments.
I too, think that 391% interest is inhuman no matter the reason but on the other hand it should be a person’s choice to either get the loan or for a lender to lend the money. $15 per $100 loaned is a lot better than $35 or more for a bounced check.
Could someone get stuck in a cycle of loans? Sure. I know from personal experience that it easy to do it. There was a time when I almost got sucked in, but I went 2 weeks without getting another loan and broke out. It was very hard to do – I remember it meant a lot of mac and cheese dinners and no outside entertainment.
On the other hand – crap happens. Sometimes bills come up outside of your pay check and I don’t know too many creditors who will wait until your next pay day. Many people only get paid every 2 weeks or maybe only once a month – in those circumstances if you already budgeted your money for current expenses – you can’t afford something unexpected.
Try to get a small loan from a bank. They put you through the same checks as if you were borrowing money for a house.
Traditional banks have overdraft protection but you have to have good credit to get it. Writing a bad check isn’t just dangerous fee wise but if you do it too many times you can get into legal trouble.
Also the fees associated with bouncing a check are outrageous – I know this from experience.
Several years ago I missed calculated my balance in my checking account by $3. Seven – yes I said seven – checks were bounced at $35 a pop putting me on the hook for $245 in fees alone besides the $180 in bounced checks. They took the small amount I had left in my savings account and closed my checking account, conveniently after the 7 bounces with through. I refused to pay the fees and they put me on the bad risk list keeping me from even getting a savings account. I figured I would wait them out the five years the black mark would be on my report but then they reissued the black mark after four years by sending another report to Chex Systems.
Payday lenders also provide other important services for those who don’t have bank accounts. Many of the lenders operate check cashing services. For those years I couldn’t open another bank account, payday lenders helped me by cashing my payroll check and letting me buy money orders to pay bills.
While I do think some regulation of payday lenders are needed, HB 545 hurts the consumer.
Hello world!
Well I have taken the plunge.
I am converting Doug’s Views to WordPress.
The main reason is the high script overhead that MovableType uses. It leads to having a lot of server muscle to handle it and I want to scale back my level of web hosting I buy.
My other major blog will be converted soon.
This will be a bit bumpy as I transform this basic out of the box install into the look and and feel I want. And I expect some errors and 404 pages popping up.
Please be patient.