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Worried about investments, your job?

Tune into Midday today for some free advice. In the first hour, our guest is Ken Solow, a founding partner of Pinnacle Advisory in Columbia and its chief investment officer. In the second hour, career coach Marty Nemko has the scoop on the jobs market. Call 410-662-8780 or drop us an e-mail in advance at midday@wypr.org

Midday, 88.1 FM, WYPR, Baltimore

 

Posted by Dan Rodricks at 11:48 AM | | Comments (1)
        

Comments

$700 Billion is a lot of money. As a matter of fact, it’s so much that I don’t really comprehend it. For whatever reason, $1 trillion actually seems like a more reasonable number. I’m sure Freud could explain it. My personal political ideologies make me a bit queasy at the prospect of saving the grotesquely rich from falling the status of absurdly rich. However I’ve become so desensitized to politics that I’m not surprised such things are happening.

I’m vaguely interested enough such that I’ve entertained the thought of authoring something to highlight the bastardizing of the principals which this nation was founded. Since it would likely be the same rhetoric on civil liberties and free-market but much less eloquently stated, I’ll leave it to the Constitutional Scholars who remember the notable letter written in the same era- it was a Declaration of sorts.

I know that we the tax-payers will pay for the bailout. I also know that my peers in the lowest tax bracket will probably only pay a few hundred dollars of the next few years. In the grand scheme of things, it’s not much. It’ll be good to give Hank Paulson 700 million dollars with which he can save some fledgling companies and, undoubtedly such some towards his friends at Goldman Sachs- fitting for someone who is fifth in line of succession for the Presidency. Corruptio optimi pessima… but I digress.

I have had the passing thought that these build-my-own-compound-in-the-woods-and-heavily-arm-myself-because-taxes-are-unconstitutional nuts may be onto something. At this point I just find my current government insulting. Now I have a unique job in that I’m far over-qualified for what I do and my company knows that. However, some of my “over-qualifications” are actually necessary to do the job well and efficiently. I know it’s a novel idea –doing a job well and efficiently- but that’s how it goes. Because my value is needed and appreciated, I have very good job security. I’m also paid reasonably well for what I do. It’s a job, not a profession so it won’t last forever. I’m also in the fortunate position that I don’t have very many financial obligations. Thus the current financial free-fall doesn’t directly impact me yet. I’m sure in the coming months my Cheerios and milk will cost more but that’s not what I’m talking about. Yeah my 401K is worth less than what my company and I have contributed but I have some 40 years or so before I retire so that doesn’t worry me.

The short and long of it is that I’m not worried about my investments or job but the big investment firms should be. I am, at this young and probably naive stage in my life, very unlikely to trust huge financial institutions. I’ll have a checking account, I’ll have a savings account, but I’m not sure about much beyond that. Fool me once shame on you, fool me twice, well, I’m not going to give you that chance.

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About Dan Rodricks
Jan. 8, 2009, marked 30 years for Dan Rodricks' column in The Baltimore Sun. Over three decades, Dan has won numerous regional and several national awards for his reporting and commentary -- in print and on the air. "I've had opportunity to write a column and work in both radio and television, never having to leave my adopted hometown of Baltimore to have those experiences," he says. "I consider myself very fortunate." In addition to writing a twice-weekly column for The Baltimore Sun and his Random Rodricks blog, Dan is currently the host of Midday, on WYPR-FM, National Public Radio in Baltimore. An artful story-teller and social critic, he has observed local, state and national political and cultural trends for three decades, and has a lot to say about almost everything.
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