The Social Security Time Bomb

Rather than focusing on our broken political system this article is focusing on a solution to the Social Security time bomb. Only yesterday the Social Security Trustees said that the system will not have sufficient funds for the promised payouts in 2033.

Regular ongoing monthly Social Security benefits started in January 1940. Despite what some will claim we are experiencing longer lives. The system was counting on almost everyone dying within ten years of retirement. The problem for the program is that too many are living into their 80s and 90s.

The Democrats have not faced the reality of longer lives. The Republicans have but their solutions are unacceptable to most of us. Interestingly it was George W. Bush who tried to resolve the issue but the two parties seem bent upon disagreement even when they know there is a solution.

We all know that many people are relying on the system as their only source of income. Cutting benefits for the poorest is not a reasonable solution.

There are a few things we can do:
1. Establish a “means test” that would deny benefits to those with higher retirement income.
2. Raise the maximum taxable contributions from the current level.
3. Raise the retirement age.

To do these things will require courage. That is lacking in our representatives.

Point and Shoot Cameras will beat your Cell Phone

Joshua Goldman writing for c/net offers ten reasons that even an inexpensive point and shoot camera will do a better job of capturing the photo you want to remember.  Following are some of the most important reasons.

Optical zoom
For a lot of people, optical zoom is the biggest feature missing from smartphones; with rare exceptions, the only option on mobile devices is image-destroying digital zoom. A good zoom lens, of course, can be used to bring distant subjects closer. But it can also be used for several other things, such as changing the relative size of subjects or compressing the distance between them, or, in the case of this photo, creating an out-of-focus background — no dSLR or software needed.

Macro
Even a sub-$100 point-and-shoot can take better macro photos than a smartphone. Many models can focus at less than half an inch from a subject and, depending on the quality of the camera’s high-resolution photos, you can enlarge them and view sharp fine details. Plus, with a camera’s slightly larger sensors, you’re actually able to create a shallow depth of field.

Shooting performance
Anyone who’s tried to capture a picture of a fast-moving child or pet with a smartphone knows how tricky it can be. Even when you think you’ve gotten the shot, chances are if you look at it larger, it’s blurry, soft, noisy, or all of the above. Camera makers have been improving all aspects of shooting performance, though; startup time, shutter lag, and shot-to-shot times are much better than they were even a couple years ago. Plus, since cameras have a shutter release button, it’s easier to hold the camera and quickly prefocus again and again until you get the shot you want. That’s not exactly easy to do when you’re trying to hold your phone and tap a screen.

Burst shooting
One of my favorite Android camera apps is Fast Burst Camera, which lets you fire off shots at up to 30 frames per second. However, that’s at a significantly reduced resolution, whereas a camera like the Sony Cyber-shot DSC-HX9V can shoot 10fps at its full 16-megapixel resolution. The Panasonic Lumix DMC-ZS20 is even better, shooting at up to 60fps at reduced resolutions, 10fps at full resolution, and up to 5fps with autofocus.

Battery life
Obviously, if you’re only going to take a couple snapshots or a 30-second movie clip, it won’t eat up too much of your smartphone’s battery. But if you’re out shooting at an event, on vacation, or simply while out and about for the day, using your phone’s camera will drain your battery.

Storage
If you’re just taking the occasional snapshot or movie clip, it’s not a big deal. But if your smartphone’s become your only camera, it’s something to consider. With a dedicated camera, you can shoot as much as you want without worrying about running out of space on your phone.

Optical or sensor-shift image stabilization
Smartphones only have digital image stabilization, which, like digital zoom, degrades image quality. Cameras, except really low-end ones, have either optical or sensor-shift image stabilization to help with camera shake, and it has no impact on photo quality and is much more effective. In fact, image stabilization has gotten so good that manufacturers are able to offer longer lenses that are actually usable handheld.

Read the rest of the article at http://news.cnet.com/8301-17938_105-57414697-1/10-ways-a-point-and-shoot-camera-beats-your-phones/

Being Green

Checking out at the store, the young cashier suggested to the older woman, that she should bring her own grocery bags because plastic bags weren’t good for the environment.

The woman apologized and explained, “We didn’t have this green thing back in my earlier days.”

The young clerk responded, “That’s our problem today. Your generation did not care enough to save our environment for future generations.”
She was right — our generation didn’t have the green thing in its day.

Back then, we returned milk bottles, soda bottles and beer bottles to the store. The store sent them back to the plant to be washed and sterilized and refilled, so it could use the same bottles over and over. So they really were recycled.

But we didn’t have the green thing back in our day.

Grocery stores bagged our groceries in brown paper bags, that we reused for numerous things, most memorable besides household garbage bags, was the use of brown paper bags as book covers for our schoolbooks. This was to ensure that public property, (the books provided for our use by the school) was not defaced by our scribblings. Then we were able to personalize our books on the brown paper bags.

But too bad we didn’t do the green thing back then.

We walked up stairs, because we didn’t have an escalator in every store and office building. We walked to the grocery store and didn’t climb into a 300-horsepower machine every time we had to go two blocks.

But she was right. We didn’t have the green thing in our day.

Back then, we washed the baby’s diapers because we didn’t have the throwaway kind. We dried clothes on a line, not in an energy-gobbling machine burning up 220 volts — wind and solar power really did dry our clothes back in our early days. Kids got hand-me-down clothes from their brothers or sisters, not always brand-new clothing.

But that young lady is right; we didn’t have the green thing back in our day.


Back then, we had one TV, or radio, in the house — not a TV in every room. And the TV had a small screen the size of a handkerchief (remember them?), not a screen the size of the state of Montana . In the kitchen, we blended and stirred by hand because we didn’t have electric machines to do everything for us. When we packaged a fragile item to send in the mail, we used wadded up old newspapers to cushion it, not Styrofoam or plastic bubble wrap. Back then, we didn’t fire up an engine and burn gasoline just to cut the lawn. We used a push mower that ran on human power. We exercised by working so we didn’t need to go to a health club to run on treadmills that operate on electricity.

But she’s right; we didn’t have the green thing back then.

We drank from a fountain when we were thirsty instead of using a cup or a plastic bottle every time we had a drink of water. We refilled writing pens with ink instead of buying a new pen, and we replaced the razor blades in a razor instead of throwing away the whole razor just because the blade got dull.

But we didn’t have the green thing back then.

Back then, people took the streetcar or a bus and kids rode their bikes to school or walked instead of turning their moms into a 24-hour taxi service. We had one electrical outlet in a room, not an entire bank of sockets to power a dozen appliances. And we didn’t need a computerized gadget to receive a signal beamed from satellites 23,000 miles out in space in order to find the nearest burger joint.

But isn’t it sad the current generation laments how wasteful we old folks were just because we didn’t have the green thing back then?

The Stockholders Strike Back!

At Citigroup’s annual meeting, owners of the stock voted 55 to 45 against a $50 million executive pay package, including $15 million for CEO Vikram Pandit.

This is all thanks to the Dodd-Frank financial overhaul law.

Buried in its 2,300 pages is a requirement for public companies to hold “say on pay” votes for executive compensation.

Now, the vote is non-binding, but the chairman of Citigroup Dick Parsons said he took it seriously, and promised the board would consider it carefully.

Shareholders have every right to be upset with Vikram.

Over the last decade, Citigroup has had the worst stock price performance of the big banks, but consistently had some of the highest executive compensation.

 Citi shares up slightly today, but they’re down more than 80% since the financial crisis hit.

They’re down 93% from 2006.

Last year, Pandit got a $1.7 million salary, plus a $5.3 million cash bonus, and he got a $40 million retention package that pays out through 2015.

Getting a bonus should be a piece of cake for these execs, too, since the standard for the payout is an earnings track record half of what it was in 2009 and 2010 when the economy was in the tank.

Whoa! Don’t get too ambitious!

Look, to be fair to Pandit, for 2009 and 2010, he accepted just a buck in salary.

 But to be fair to shareholders, Citi’s quarterly dividend is one penny.

 At the start of this week, Citigroup announced its first-quarter profit had fallen two percent from a year earlier on a paltry one percent rise in revenue.

 The Federal Reserve turned the company down on its request for a share buyback or dividend after Citi flunked the central bank’s stress test in March. And don’t forget the bank was one of many bailed out during the financial crisis.

Some people bridle at anyone earning millions of dollars a year, but not me.

If you can grow sales, boost the bottom line, raise the share price, then by all means you’ve earned a fat paycheck.

But what we can’t do is reward mediocrity and failure.

There’s a lot not to like about Dodd-Frank – about 2,299 pages’ worth if you ask me – but shareholder “say on pay”? That’s OK with me.

Last year shareholders voted down just two percent of executive pay plans. Maybe this is the start of a new trend.

Read more: http://www.foxbusiness.com/on-air/willis-report/blog/2012/04/18/shareholders-strike-back?link=mktw#ixzz1sXtwnCTx

Decline of Manufacturing Jobs in America

 The Long Goodbye: Number of U.S. Manufacturing Jobs

The graph was in Businessweek April 16-April 22, 2012.  It tells the story of the continuing loss of manufacturing jobs in the United States.  Those that believe that America will become a “service society” are in a dream world.  No nation thrives on services alone.  Actually we are already outsourcing many services to Asian countries.  Dell Computer, Citi Bank, Hewlett Packard, and the Los Angeles Times are just FOUR of the many companies that have out sourced their customer service.

Notice that this graph reflects what many of us already knew.  Decline in manufacturing has been a decades old event.

The Tech impact has Just Begun

When my son had his car stolen, my daughter called to say she learned about it on his Facebook page.

No one doubts that technology has impacted our way of life. Computers, television have morphed into computers, cell phones have become smart phones, tablet computers are replacing lap top computers, and music is now downloaded rather than played on CDs or records (what are records?).

Despite all the new stuff, electronic retail has seen a continuous downward trend over the last few years.  First it was Circuit City that once was the largest chain of electronic stores in the nation and now Best Buy seems to be following with the closing of 50 stores by the end of this year.  Six (revised to 7)in California, six in Illinois, and the balance in Minnesota (revised to 17 states and Puerto Rico).

This really is the impact of technology.  Borders Books is gone and Barnes and Noble is barely hanging on.  All these businesses are impacted by the internet.  It’s the place I made two purchases this month from Amazon.  One was a new camera (tech product) and the other was sugar bowl (that is a blow to all retail).  Banking? On line.

What is the message?  Retail will never be the same.

What about jobs?  Many of us will be working from home.

Betty White may be correct when she said, “Facebook is a big waste of time.”  Just don’t tell the millions of people who use it as a primary means of communication.

Another Major Earthquake

I am no expert on earthquakes but Los   Angeles has had a major quake about every 20 years.  Following is a list of quakes in the Los Angeles region that was collected by Wikipedia.  I have bolded those that were major shakers in Long Beach, Inglewood, West Los Angeles, and the San Fernando Valley.

My unscientific evaluation is that we are due for another major shaker NOW.

Are you ready?

Year Date Area Magnitude Title
1769 July 28 Santa Ana River 6.5-7.0 Portola Expedition earthquake
1812 December 8 Wrightwood 6.9-7.5 1812 Wrightwood earthquake
1857 January 9 Parkfield–Wrightwood 7.9 1857 Fort Tejon earthquake
1933 March 10 Long Beach 6.4 1933 Long Beach earthquake
1947 April 10 near Barstow 6.5 1947 Manix earthquake
1948 December 4 near Desert Hot Springs 6.0 1948 Desert Hot Springs earthquake
1952 July 21 Kern County 7.3-7.5 1952 Kern County earthquake
1971 February 9 San Fernando 6.6 1971 San Fernando earthquake
1986 July 8 North Palm Springs 6.0 1986 North Palm Springsearthquake
1987 October 1 Whittier Narrows 5.9 1987 Whittier Narrows earthquake
1991 June 28 Sierra Madre 5.6 1991 Sierra Madre earthquake
1994 January 17 Northridge 6.7 1994 Northridge earthquake

Senior Discounts

Just an FYI on some discounts available to some folks over 55:

Keep this list. Send a copy to your Senior friends. As I was waiting in line behind an older gentleman at Wendy’s recently, I heard him ask for his senior discount.
The girl at the register apologized and charged him less. When I asked the man what the discount was, he told me that seniors over 55 gets 10% off everything on the menu, every day.
Being that age myself, I figured I might as well ask for the discount too. As I waited for my turn, I thought about the consequences of doing so.

If the employee asked me for I.D., it could be embarrassing having to show my license. But if she didn’t ask for proof, I would get depressed that I really did look “old” and that I didn’t need to prove it.

Since I always like to save money, I boldly asked for the discount, and sadly she just rang up the discount (even though I am convinced I don’t look a day over 54).

Anyway, this incident prompted me to do some research, and I came across a list of restaurants, supermarkets, department stores, travel deals and other types of offers giving various discounts with different age requirements.

I was actually surprised to see how many there are and how some of them start at the young age of 50.
This list may not only be useful for you, your friends and family.Hmmmm, Dunkin Donuts gives free coffee to people over 55.  If you’re paying for a cup every day, you might want to start getting it for free.

Restaurants
Applebee’s: 15% off with Golden Apple Card (60+)

Arby’s: 10% off (55+)

Ben & Jerry’s: 10% off (60+)

Bennigan’s: discount varies by location

Bob’s Big Boy: discount varies by location (60+)

Boston Market: 10% off (65+)

Burger King: 10% off (60+)

Captain D’s Seafood: discount varies on location (62+)

Chick-Fil-A: 10% off or free small drink or coffee (55+)

Chili’s: 10% off (55+)

CiCi’s Pizza: 10% off (60+)

Culver’s: 10% off (60+)

Denny’s: 10% off, 20% off for AARP members (55+)

Dunkin’ Donuts: 10% off or free coffee (55+)

Einstein’s Bagels: 10% off baker’s dozen of bagels (60+)

Fuddrucker’s: 10% off any senior platter (55+)

Gatti’s Pizza: 10% off (60+)

Golden Corral: 10% off (60+)

Hardee’s: $0.33 beverages everyday (65+)

IHOP: 10% off (55+)

Jack in the Box: up to 20% off (55+)

KFC: free small drink with any meal (55+)

Krispy Kreme: 10% off (50+)

Long John Silver’s: various discounts at participating locations (55+)

McDonald’s: discounts on coffee everyday (55+)

Mrs. Fields: 10% off at participating locations (60+)

Shoney’s: 10% off Sonic: 10% off or free beverage (60+)

Steak ‘n Shake: 10% off every Monday & Tuesday (50+)

Subway: 10% off (60+)

Sweet Tomatoes: 10% off (62+)

Taco Bell: 5% off; free beverages for seniors (65+)

TCBY: 10% off (55+)

Tea Room Cafe: 10% off (50+)

Village Inn: 10% off (60+)

Waffle House: 10% off every Monday (60+)

Wendy’s: 10% off (55+)

White Castle: 10% off (62+)

Retail And Apparel

Banana Republic: 10% off (50+)

Bealls: 20% off first Tuesday of each month (50+)

Belk’s: 15% off first Tuesday of every month (55+)

Big Lots: 10% off

Bon-Ton Department Stores: 15% off on senior discount days (55+)

C.J. Banks: 10% off every Wednesday (60+)

Clarks: 10% off (62+)

Dress Barn: 10% off (55+)

Goodwill: 10% off one day a week (date varies by location)

Hallmark: 10% off one day a week (date varies by location)

Kmart: 20% off (50+) Kohl�s: 15% off (60+)

Modell’s Sporting Goods: 10% off

Rite Aid: 10% off on Tuesdays & 10% off prescriptions

Ross Stores: 10% off every Tuesday (55+)

The Salvation Army Thrift Stores: up to 50% off (55+)

Stein Mart: 20% off red dot/clearance items first Monday of every month (55+)

Grocery

Albertson’s: 10% off first Wednesday of each month (55+)

American Discount Stores: 10% off every Monday (50+)

Compare Foods Supermarket: 10% off every Wednesday (60+)

DeCicco Family Markets: 5% off every Wednesday (60+)

Food Lion: 6% off every Monday (60+)

Fry’s Supermarket: free Fr’s VIP Club Membership & 10% off every Monday (55+)

Great Valu Food Store: 5% off every Tuesday (60+)

Gristedes Supermarket: 10% off every Tuesday (60+)

Harris Teeter: 5% off every Tuesday (60+)

Hy-Vee: 5% off one day a week (date varies by location)

Kroger: 10% off (date varies by location)

Morton Williams Supermarket: 5% off every Tuesday (60+)

The Plant Shed: 10% off every Tuesday (50+)

Publix: 5% off every Wednesday (55+)

Rogers Marketplace: 5% off every Thursday (60+)

Uncle Guiseppe’s Marketplace: 5% off (62+)

Travel

Alaska Airlines: 10% off (65+)

Alamo: up to 25% off for AARP members

American Airlines: various discounts for 65 and up (call before booking for discount) Amtrak: 15% off (62+)

Avis: up to 25% off for AARP members

Best Western: 10% off (55+)

Budget Rental Cars: 10% off; up to 20% off for AARP members (50+)

Cambria Suites: 20%-30% off (60+)

Clarion: 20%-30% off (60+)

Comfort Inn: 20%-30% off (60+)

Comfort Suites: 20%-30% off (60+)

Continental Airlines: no initiation fee for Continental Presidents Club & special fares for select destinations

Dollar Rent-A-Car: 10% off (50+)

Econo Lodge: 20%-30% off (60+)

Enterprise Rent-A-Car: 5% off for AARP members

Greyhound: 5% off (62+)

Hampton Inns & Suites: 10% off when booked 72 hours in advance

Hertz: up to 25% off for AARP members

Holiday Inn: 10%-30% off depending on location (62+)

Hyatt Hotels: 25%-50% off (62+)

InterContinental Hotels Group: various discounts at all hotels (65+)

Mainstay Suites: 10% off with Mature Traveler’s Discount (50+); 20%-30% off (60+)

Marriott Hotels: 15% off (62+) Motel 6: 10% off (60+)

Myrtle Beach Resort: 10% off (55+)

National Rent-A-Car: up to 30% off for AARP members

Quality Inn: 20%-30% off (60+)

Rodeway Inn: 20%-30% off (60+)

Sleep Inn: 20%-30% off (60+)

Southwest Airlines: various discounts for ages 65 and up (call before booking for discount)

Trailways Transportation System: various discounts for ages 50 and up

United Airlines: various discounts for ages 65 and up (call before booking for discount)

U.S. Airways: various discounts for ages 65 and up (call before booking for discount)

Activities And Entertainment

 AMC Theaters: up to 30% off (55+)

Bally Total Fitness: up to $100 off memberships (62+)

Busch Gardens Tampa: $3 off one-day tickets (50+)

Carmike Cinemas: 35% off (65+)

Cinemark/Century Theaters: up to 35% off

U.S. National Parks: $10 lifetime pass; 50% off additional services including camping (62+)

Regal Cinemas: 30% off

Ripley’s Believe it or Not: @ off one-day ticket (55+)

SeaWorld Orlando: $3 off one-day tickets (50+)

Cell Phone Discounts

AT&T: Special Senior Nation 200 Plan $29.99/month (65+)

Jitterbug: $10/month cell phone service (50+)

Verizon Wireless: Verizon Nationwide 65 Plus Plan $29.99/month (65+).

Miscellaneous

Great Clips: $3 off hair cuts (60+) Super Cuts: $2 off haircuts (60+)

Things are Getting Better?

The unemployment rate decreased .1% last month. That sounds good but the cause was more people giving up on searching for a job.  There weren’t even enough jobs created last month to keep up with increased population. 

Today’s Bureau of Labor Statistics report included the following statement. “The number of long-term unemployed (those jobless for 27 weeks and over)was essentially unchanged at 5.3 million in March. These individuals accounted for 42.5 percent of the unemployed. Since April 2010, the number of long-term unemployed has fallen by 1.4 million.”

There is the problem that neither President Obama nor Mitt Romney has addressed. American industry doesn’t need most of those long term unemployed. The reason is that technology and the export of American jobs has reduced the numbers of people required in the United States.

The president’s job plan does include the following proposals
– A $4,000 tax credit to employers for hiring long-term unemployed workers.
– Prohibiting employers from discriminating against unemployed workers when hiring.
Nice gestures that do not answer the question of who will hire these un-needed people?

I have found nothing in Mitt Romney’s proposals that even suggest any solutions. His focus is on “free market.” My question is, where were the free markets under George W. Bush when the economy was in free fall?

My solution is higher tariffs on all imported products. Neither Obama nor Romney agree with that solution.  They don’t have a solution!