Publicly Scolded... At least I was Anonymous

It is a strange feeling to hear yourself being talked about in a public forum. You know what I mean... you're in a meeting and the boss talks about an error and you know it's you but he doesn't mention you. You can feel your face turning red with embarrassment wondering if everyone else knows it's you that is the target of a well-deserved scolding. Well, I got a scolding yesterday in front of an audience of a few thousand people though I didn't here it until my commute this morning. Jack Spirko has a business podcast, "5 Minutes with Jack", in which he offers tons of awesome advice with a catch. You have to do something with it. In an email to Jack recently, I filled it full of excuses on why I haven't taken some steps forward with my ideas:

I know if I had spent some $$ to get dillonallen.com, was hosting on Hostgator, and had installed Wordpress that SEO Smart Links would handle this for me. That is my plan, just can't justify the $$ since I don't even have a detailed plan for a business yet.

I'm still sitting on Blogger and planning a move to actual hosting/domain following the outage I'm working right now and better formulation of my plan

In yesterday's Episode 91, He basically ranted on the subject of excuses and not having an "I can do it, so I AM doing it NOW" attitude and it seemed he was reading directly from my email. If not, some other dude wrote in with the exact same words, since Jack read off the excuses listed above - in that order - with a few generalizations. ACK! The point is, there will always be a reason or potential issue to stop you from moving forward if you don't step up and attack the future. I deserved my scolding and I acted... http://www.dillonallen.com is now in existence (though it won't show up until tomorrow some time) and I will be posting there in the future. I will run my main blog at dillonallen.com/blog as well as my photography page, Ka-Click, within the dillonallen.com domain. I also have a few ideas for both product and ebooks that I want to market. They will be available there by summer and I can remove myself - if only for a while - as a source of self-inflicted ridicule. Jack, thanks for the push.

Nike Galaxy - Riots? Really?

Nike just released a new, even more hideous pair of shoes to the public with a price tag of $220, the Nike Galaxy Foamposite.

Chris Richardson at Webpronews.com has posted 2 videos and some enlightening twitter comments on the "Nike Foamposite riots". Check out those videos in a bit. But the bottom line is 100s (perhaps 1000s) of people went out to buy a $220 pair of shoes that look like something I'd get for the kids at Stride Rite. Now I cannot really comment on the fashion of these shoes. After all, my brother and I had matching Converse X-High tops that were two-tone flourescent - mine orange and his turquoise both with yellow insides - and we wore them folded down like this (you gotta love the 80's):

So let the kids wear what they want to wear from a fashion perspective. They will, like me, look back on it fondly but laughingly regret it when they are in their 30s. But if we have overall unemployment at near 10% and youth unemployment significantly higher - near record levels - in the younger demographics, I have a few questions.

1. First, where are they getting the money to blow on these shoes?
   
2. Second, why would you want to get involved in civil unrest over these shoes (or any shoes so long as you have a pair on)?
   
3. Finally, is it just me or has our country gone completely and utterly insane?

Hard-to-kill Greens: Chickweed & Malabar Spinach

Yesterday I heard about 2 separate plants that are both edible and grow easily in my regional climate - Chickweed & Malabar Spinach. You don't need a green thumb to get these plants going or keep them producing. Having no doubt I could grow these weeds - I have extensive experience with successful weeds growing in my yard :) - I was curious about how to use these plants before trying out some as ground cover in an empty bed on the side of my house. So in a quick search, here's what I found that makes me want this stuff tonight:

Malabar Spinach - Here's a video (makes me H-U-N-G-R-Y) about malabar followed by a couple of recipes.

• Indonesian Style Malabar Spinach - Food.com
  
• Mok Toi & Mushroom Stir Fry - MeltingWok.com
  
• Salads from Rose Creek Farms
  
• Bachali Kura Pappu ~ Malabar Spinach Dal - Sailu's Kitchen
  
• Pui Charchari or Malabar Spinach from Rice-n-curry.com
  
• Tomato-Malabar Quiche - Charlotte Fresh

Chickweed - I was going to post a cool video of this stuff being used, but the really interesting videos were all hosted by folks who appeared to have accidentally used a different, less legal weed and I couldn't put them up here without laughing (nor could they stop laughing). Just do a google or youtube video search for chickweed recipes. But here is the PBS-style public service announcement version, which actually shows you what it looks like on the ground and explains how to use it.

• Chickweed Pate - Eatweeds UK
  
• Pakora & Hot Dressed Salad (+ a few more) - Carl Legge
  
• Chickweed Pesto - LearningHerbs.com
  
• Chickweed Salad - Food & Wine
  
• Chickweed Chimichurri & Tuna Poke - Fat of the Land

The last one makes my eat crazy stuff bell ring. I LOVE poke. When my little brother was stationed in Hawaii and I stayed with him during my two week Naval Reserve duty at Pearl Harbor Naval Shipyard, we ate almost nothing else. Adding something local, prevalent, and free to something that is a lot more pricey in Mississippi (due to the large amount of saltwater fish) is a great idea to stretch it. Anyway, I'm stoked to try out the malabar this year.

Downward Class Migration: Not Falling Alone, Sliding Together

Jack Spirko has been talking about "Downward Class Migration" for quite a while on The Survival Podcast. I am hearing more and more media reports about people falling in the class structure, but that isn't what Jack has been talking about. His point is that what it means to BE middle class (or any given class) is sliding downward while the actual class structure remains relatively stable. I think of it like an avalanche or landslide in which a shelf of ice (the class structure) slides down a mountain so that everyone remains about the same relative to each other but everyone is actually lower on the mountain. The kicker is that this shift combined with all of the individual cases of falling down to a lower class (due to unemployment, etc) compound each other for those to whom it happens. Below is a video that Jack put together to better explain this concept:

WARNING: This isn't a graduate thesis. It's a discussion from a normal guy to his community. There is some PG-13 language, but nothing rated R.

Here is Jack's blog post at The Survival Podcast, with a growing comment thread.

The bottom line of Jack's entire focus at TSP is that if you become more self sufficient in providing your needs (and wants), you can combat the downward migration of the entire class structure while nothing else is going wrong on a personal, local, regional, or global scale (storms, medical emergencies, financial difficulties, civil unrest). Thus his slogan "Helping you live the life you want if times get tough, or even if they don't." - Jack Spirko

UPDATE - Here is a link to a story from the Wall Street Journal on cultural inequality. Many similar themes, but from a mainstream polished source.

Financial Bogeyman

I am starting to get nervous about markets like I was in 2008. I held on a little too long then and wish I had moved to cash a month earlier than I did... it would have saved me almost 10% of my investments. I can't quite put my finger on it, but I feel like one of many financial bogeymen are hiding in the closets just waiting for us to open a door.

The major things going on out there that worry me are:

• European debt crisis - News from The Guardian and Wall Street Journal

Everybody knows there is a crisis here and lots of nations are doing things in the background and more overtly to fend this one off for a while, but it still makes the market do stupid stuff. I think the impact of this one could potentially be smaller on me us if we are smart about how we react. I also think that there may be some long-term good investments to be had as European companies that are solid get hit at the ticker but less elsewhere. (See also the US market in late 2008)

• Domestic municipal debt "crisis in the making" - News from The Guardian in the UK, Reuters, and CNBC

The Brits are saying we might be in trouble, while CNBC is trying to maintain that there's nothing to see, move along. If you sign up with your brokerage to be on the "New Offerings" list, your email will be pelted with multiple listings every day for things like $134M from the NY Dormitory Authority or $282M from the Omaha Public Power District, etc. I could see how you spend almost $300M in a power district. They could be building a new power station and/or upgrading their infrastructure - I know they're dabbling in wind generation, too. But a dormitory project >$100M is ASTOUNDING. You can build a WHOLE LOT of dormitories for that kind of money. Cities around the country are having to cut services to meet their debt obligations, moreso where they are prevented by state law from filing for bankruptcy (see Harrisburg, PA). Yet they continue to drink the spiked kool-aid out of the cooler and party like it's 1999. Eventually, these cities are going to need a bailout from the state or their (formerly apparently rock solid) munis will tank. The states don't have the dough (try figuring out the California budget) and will have to borrow it or be bailed out by Uncle Sam. Now Uncle Sam can do a few things to fix the problem... raise revenue, cut expenses (they don't have the fortitude to do that) borrow more or just have the Fed print more money to give to the states to funnel to the cities. Borrowing more is just kicking the can again. I don't have full faith that our credit can hasn't been kicked all it can stand. Printing more is gradually devaluing the dollars (so they don't have to do it all at once Zimbabwe style). Both of those options pretty much just suck. I don't have a more cogent, mixed company appropriate, professional term.

So what do we do about it? I'm still working that out myself. But I am certainly looking for opportunities to move things to cash where it makes sense and the risk probably isn't worth the reward (European sovereign debt off the top of my head). I'm also trying to position myself to make the really good buys that I believe will be there when things eventually do get bad. I think the market could experience one more super jubilant rally over the next few years, but protecting capital is my primary goal right now and I am beginning to feel like one of the sober people standing around the frat party at 3 in the morning. It's been fun, but there are going to be some serious hangovers.