Saturday, March 20, 2010

What is Your Net Worth? From The Simple Dollar


The Simple Dollar (one of the resources in the blog roll) has re-printed links to some of its older articles including one from last year, My Real Net Worth, written by Trent Hamm. Here is an excerpt:

...I’ve always found “net worth” to be a strange way of expressing the idea. To me, the mere sum of one’s assets minus one’s debts is a good financial indicator, but it’s far from what I would call “net worth.”

As I take a look down my list of assets, I see things like our home, our savings and checking account balances, our retirement accounts, and so on.

But are those really all of our assets?

I view our close family and friends as major assets. These people help lift us up through thick and thin. They provide great friendship and social situations when times are good, and are there for encouragement (and more tangible help) when times are bad. Certainly, they’re an asset in our lives.

I look at our health as an asset. We’re all in good health. My wife and I are able to earn money because of our good health....

To put it simply, my real net worth is more than just a sum of financial assets and debts. Compared to the wholeness and beauty of life, one’s financial net worth is just the beginning.


Read the full article on The Simple Dollar.


Photo Credit:

The Problem with the Economy


"I think the problem with our economy is that most products are complete and utter crap."-Scott Adams.

Read the whole article that spawned this quote on Scott Adams' Blog.






Photo Credit:

Another Member of the Broke and Beautiful Nation

Lesley Pink, an editor, writer and contributor to The 405 Club, wrote about the benefits of being unemployed in her article On the Bright Side:

There are some positives to being out of work. I don’t have to ride the subway during rush hour. Office politics are no longer since I don’t have an office. I can take a walk in the middle of the day. I am not hidden away in a windowless office for eight hours a day. Grocery stores and banks are much less busy in the middle of the day. I get to watch “The Price is Right.” I don’t have to feel guilty about skipping the gym because I don’t belong to a gym anymore— that had to go when I lost my job. I can wear flipflops instead of heels.

Friday, March 19, 2010

Tonight's Diversion: Plant Music


I would like to thank the folks at Homegrown Evolution for reminding me about the 1970s experiment in music designed to help your houseplants grow.

I could probably try to tie this into the "Broke is Beautiful" theme as a commentary on the kinds of things people buy when they have more money than they know what to do with.

Buying record albums to make your plants happy could certainly serve as a good example of American commercial excess along with truck nuts, inflatable toast and the baby toupee.

But I would have to admit that in the mid-80s I actually bought the LP pictured at left as a gift for my houseplant loving mom at a sidewalk sale in downtown Bowling Green, Ohio. (I think it was about $1)

It was a pleasant enough album of innocuous baroque music- fairly relaxing. As for its effect on plants? It's hard to say. The greatest effect seemed to be on me. It caused me to antropomorphize our green companions and wonder if the begonias really "liked" the song that was playing and if they were "thinking" about dancing.

Homegrown Evolution introduced me to two more classics of the vegetal orchestral genre. On March 9 they featured Music to Grow Plants.


And on March 16, Plantasia.



Here is Mrs. Homegrown's review:

Mort Garson's Moog generated album Plantasia: Warm Earth Music for Plants and the People Who Love Them is pretty much what I would imagine a macramé suspended spider plant wanting to listen to. Its groovin' Moog bleeps and blats seem more likely to enhance photosynthesis than Dr. Milstein's orchestral wall of sound. Plantasia is pretty much guaranteed to add a foot of growth to your ficus plants.

Avi also provided a link to the entire 1979 documentary version of The Secret Life of Plants. It took me two evenings to make it through the endless time lapse and interpretive dance sequences. But there's plenty of wackiness to enjoy, including a soundtrack by Stevie Wonder who appears at the end singing to, well, a bunch of plants. The highlight for me was seeing the laboratory equipment of Indian scientist Jagadish Chandra Bose, inventor of the cresnograph a device for measuring plant growth.

Art of Making Do is the Subject of New Museum Exhibit

"Skint! Making do in the Great Depression", opens March 27 at Museum of Sydney, Australia. The Sydney Morning Herald reports that the exhibit will display the folk art and crafts of the 1930s.

Items like furniture made from boxes, rugs made from rags, and toy trains made from scrap wood, stowed away for years by specialist collectors of Depression-era art will be on display.

Annie Campbell, notes...

"These creative activities not only helped many people to brighten their homes but also provided an enjoyable diversion to pass the time," she says.

She adds that the Depression tradition of "making do" continued to thrive after the recession had passed.

Thursday, March 18, 2010

Some of Today's Blog and Twitter Discoveries


Thanks to The Official Ramen Homepage (which you can find in the blog roll) for a couple of interesting posts. The first reports on an article from MIT about how the 3d representation of the human genome ends up looking like uncooked ramen.

“It turns out actually that the fractal globule pretty deeply resembles the model of uncooked ramen noodles,” he said. “You can contrast this with the classic polymer structure, which is the arrangement that the noodles take once you’ve cooked them.”


It also shared a great broke folk recipe that was featured on the Food Network's "Dinner Impossible" program. It's called Pork Ramen Alfredo College Dorm Special.

So ramen fans, I urge you to add the Offical Ramen Homepage to your favorite rss feed reader. (I like a free open source one called Feedreader.)

Although I was initially skeptical, I've come to enjoy Twitter as a personalized newswire that leads me to a host of interesting stories I would not otherwise have seen. I learned today, for example (thanks to my hyper-posting twitter buddy @IanAspin) about the New Economics Foundation, and have added them to the blog roll.

Here's how they describe themselves: "nef is an independent think-and-do tank that inspires and demonstrates real economic well-being. We aim to improve quality of life by promoting innovative solutions that challenge mainstream thinking on economic, environment and social issues. We work in partnership and put people and the planet first."

Today in the blog Andy Wimbush wrote about a lecture by the iconoclastic Lord Turner at the Cass business school:

Lord Turner also reflected on an interview last year in which he branded much of the activity in the financial sector as “socially useless”. “People have asked me whether I regret those comments,” he said, “The answer is no, except in one very small respect, which is that I think it would have been better to use the phrase ‘economically useless’ or ‘of no economic value added’.” This echoes nef’s recent report A Bit Rich which found that Elite City bankers (earning £1 million-plus bonuses) destroy £7 of value for every £1 they create....

Lord Turner’s comments show that, contrary to what been said by some defeatists in the movement for a just and sustainable economy, there is still plenty of opportunity to introduce new ideas and challenging, radical policy proposals. The door that was flung open by the financial crisis hasn’t closed yet. So let’s delve deep into that index of forbidden thoughts and see what works.

Discussion Question: Market Speak in Everyday Life

I have posted my first discussion question over at the Facebook group "The Broke is Beautiful Movement." I hope you will go over there to join in the discussion, or if you do not have Facebook, feel free to post to the comments here.

So I was watching the news yesterday at there was a feature on Robert Bobb, Detroit's emergency financial manager, and his plan to completely revamp the city's school system. What struck me (besides the fact that someone named their kid Bob Bobb) was that he said the schools needed to be re-invented from the ground up to "stay competitive."

Competitive? Businesses have to "be competitive" so they can win out and make bigger profits. But why are we applying this business terminology to something outside the market like educating our kids? Is it helpful to see our school systems as "competing" with one another to be the best?

By "competitive" I believe Mr. Bobb really meant "at level" or "successful" or "giving our kids the same quality education you'd expect from the best school systems." But to express that, the first thing that came to mind was market jargon.

So here are my discussion questions: Do you have an example of market-speak being applied to something that is not really part of "the market"? I hope you'll share it.

And second, when we use market place metaphors for other areas of life, how do you think it affects our thinking about the issue?

Wednesday, March 17, 2010

Thursday, March 11, 2010

The Laura Lee Books Page Has Been Updated

It took me several hours, but I finally figured out how to add the new book to my books page without crashing everything! Hope it was worth it!

Broke is Beautiful Release Date Set


The official release date for Broke is Beautiful has been set for April 6. It may be available before that in some stores and is now available for pre-order on Amazon.com.

I have started a calendar which will keep track of my scheduled events (book signings/interviews/speaking). So far there is not much there, but check in from time to time to see the updates. You can access the calendar via the sidebar.

Thursday, January 7, 2010

The Monster's Name is Greed



-first stanza of poem "Greed" from the book Songs from the South-West Country, 1899, edited by Freeman Edwin Miller

Wednesday, January 6, 2010

Ode to Creativity

Monday, January 4, 2010

Trouble Collecting the Money You're Owed?

It could be worse. The Dominion Post (from Wellington, New Zealand) reports that the Wellington Library is owed more than $1 million in overdue fines.

My favorite tid-bits from this article:

It appears hip-hop CDs, science fiction and books on crime, Maori tattoos, alternative religions and Hitler are returned late most frequently. Ironically, given the 60 cents a day overdue fee, books on money-making and memory aids are also often tardy.

Sunday, January 3, 2010

The Decade of the Broke

The Washington Post is reporting that the decade that we just completed was the first since the relevant data have been kept in which the economy did not grow and personal income and wealth did not rise.

There has been zero net job creation since December 1999. No previous decade going back to the 1940s had job growth of less than 20 percent. Economic output rose at its slowest rate of any decade since the 1930s as well....

And the net worth of American households -- the value of their houses, retirement funds and other assets minus debts -- has also declined when adjusted for inflation, compared with sharp gains in every previous decade since data were initially collected in the 1950s...

But beyond these dramatic ups and downs lies an even more sobering reality: long-term economic stagnation. The trillions of dollars that poured into housing investment and consumer spending in the first part of the decade distorted economic activity.

Capital was funneled to build mini-mansions in Sun Belt suburbs, many of which now sit empty, rather than toward industrial machines or other business investment that might generate economic output and jobs for years to come.

Saturday, January 2, 2010

Friday, January 1, 2010

Thursday, December 31, 2009

Recycling for Weirdos

Why is it that so few of those "green living" tips on the nightly news suggest using empty water bottles for street performance art? Here's a primer on how to do it.

Recycled/Reborn with Glimpse from Green Thing on Vimeo.

Do As I Say...

New research published in the journal Psychological Science (I read about it in Science Daily) suggests something you may already have suspected. (Don't most psychological studies do that?)

The rich and powerful are more judgmental when it comes to the ethical choices of the less powerful than they are for themselves.

"According to our research, power and influence can cause a severe disconnect between public judgment and private behavior, and as a result, the powerful are stricter in their judgment of others while being more lenient toward their own actions," said Adam Galinsky, the Morris and Alice Kaplan Professor of Ethics and Decision in Management at the Kellogg School.

Through a series of five experiments, the researchers examined the impact of power on moral hypocrisy...In all cases, those assigned to high-power roles showed significant moral hypocrisy by more strictly judging others for speeding, dodging taxes and keeping a stolen bike, while finding it more acceptable to engage in these behaviors themselves...

In contrast, a fifth experiment demonstrated that people who don't feel personally entitled to their power are actually harder on themselves than they are on others, which is a phenomenon the researchers dubbed "hypercrisy." The tendency to be harder on the self than on others also characterized the powerless in multiple studies.

"Ultimately, patterns of hypocrisy and hypercrisy perpetuate social inequality. The powerful impose rules and restraints on others while disregarding these restraints for themselves, whereas the powerless collaborate in reproducing social inequality because they don't feel the same entitlement," Galinsky concluded.
Photo credit: Steve Rhode
http://www.flickr.com/photos/steverhode/ / CC BY-NC-ND 2.0

Wednesday, December 30, 2009

Broke Music of the Day: Appetite for Consumption-Timbuktu and Chords

Another Ramen Noodle Recipe

Consumerism Soviet Style

Thanks to Bitter Wallet for sharing this clip of commercial breaks from the 1980s Soviet Union. While Ronald Reagan was talking about the Evil Empire, communist TVs were apparently using totally awesome synthesizer music to push high tech portable cassette players to be shared by two. (Great for jogging!)

Tuesday, December 29, 2009

Culinary Creations and the Resourcefulness of Poverty

Most of our favorite traditional dishes owe their existence to a combination of creativity and scant resources. The BBC today has a story on the origin of the humble and ubiquitous British food, fish and chips.

"Oddly enough," the article says, "the chip may have been invented as a substitute for fish, rather than an accompaniment. When the rivers froze over and nothing could be caught, resourceful housewives began cutting potatoes into fishy shapes and frying them as an alternative."

Read the entire article here.

Poorman's Feast

Another video from Great Depression Cooking with Clara

Saturday, December 19, 2009

Quote of the Day


"The only gift is a portion of thyself. Thou must bleed for me. Therefore the poet brings his poem; the shepherd, his lamb; the farmer, corn; the miner, a gem; the sailor, coral and shells; the painter, his picture; the girl, a handker-
chief of her own sewing. . . . It is a cold, lifeless business when you go to the shops to buy me something, which does not represent your life and talent."-RALPH WALDO EMERSON, ESSAYS, 1844

Friday, December 18, 2009

Is That Fair? Depends, How Much Are You Paying?

A new study, discussed in Science Daily, shows that:

...when it comes to distributing resources, people's ideas about what's fair change depending on what's being handed out. If it's something that has its own intrinsic value -- in-kind goods such as food or vacation days -- people are more likely to see equal distribution of such items as fair.

But if it's something that is only valuable when it's exchanged -- such as money or even credit card reward points -- ideas of fairness shift to a more market-based attitude. In that case, the thinking is that people should receive according to what they've contributed.


This study furthers a great deal of psychological research that suggests that when you bring money into the equation, it has a social distancing effect.

I discovered too many studies to mention all of them in a chapter that deals with the phenomenon in the book Broke is Beautiful, so I'm pleased to have the opportunity to share some of this material here.

The moment money enters into the equation everything changes. Researcher Kathleen Vohns conducted a series of experiments to gauge the influence of money on social obligations. In one experiment, she and her team invited subjects to take part in a "get acquainted" conversation. The experimenters met by a desk with a computer running a screen saver. One screensaver had fish swimming, the other was a blank screen and the third showed a shower of money. The people exposed to the money screensaver put a significantly greater distance between their own chair and that of the experimenter. Next they asked subjects whether they would want to work alone on a task, or with another person. Of those exposed to the money screensaver, 72% chose to work alone, compared to 16% of those who saw one of the other screensavers.

Sitting near a poster of money has a similar effect, another experiment showed. Those seated near the money poster chose solitary activities from a list of what they would most like to do. People sitting under a floral poster were more likely to choose social activities.

In yet another test, research subjects had to unscramble phrases, some of which involved money, and others not. On the way out of the lab, participants were told that the University student fund was requesting donations, and there was a box outside if they'd like to contribute. Those who had been subconsciously prompted to think about money donated less.

In a 2004 experiment, researchers James Heyman and Dan Ariely asked three different groups to perform a simple menial task, dragging as many circles across the computer screen as they could in five minutes. Each of the three groups was offered something different for performing this task. One group was told they were doing this as a favor to the researchers, the second was told they would get 50 cents, the third $5.00.

The group that performed the task as a favor dragged the most circles across the screen, more than the $5 group and significantly more than the 50c group. People seem to be willing to work as a volunteer, and to work for a fair wage, but when they believe they are being underpaid, performance really suffers.


"It seems that our brains activate this concept of 'money,' suddenly we look at the world around us and prioritize things differently," wrote psychologist John M. Grohol, "It appears to make a person more self-interested and more socially isolated."

Thursday, December 17, 2009

Things You Can Do When You're Broke: Big Pictures with Small Budgets

I learned about this one through the blog of director Chris Jones who I interviewed for The Indiefest a while back (and whose own short film, Gone Fishing, is mentioned in the forthcoming Broke is Beautiful.)

This film, with a running time of less than five minutes and a budget of less than $300, earned its director a Hollywood contract to make a $30m film. Read more about it by following the link above or on the BBC News site.

How Do You Like Them Apples?

Wednesday, December 16, 2009

The Implications of being "Born in a Manger"

Another Broke and Beautiful Money Free Guy

The Sun today ran a story on Mark Boyle, another member of the "living money free club." Boyle lives rent free in a caravan at a farm commune washes in a stream and keeps himself warm with a stove that's held together by scrap metal and fuelled by wood from nearby trees.

He joins Heidemarie Schwermer and Daniel Suelo, previously featured here.

Wednesday, December 2, 2009