For your average 401k investor – what can you do about today?

The news in the newspaper media and creeping on to TV news as ‘breaking’ (this was building for a while), is what sounds like real trouble in the investor markets.

If you were an average 401k investor, what should you do to try and save your retirement money?

My instinct, since I am not retiring any time soon, since I have a fixed rate mortgage and manage my debt responsibly, is to stand pat. But I wonder if that is the right path if you are about to retire? Or if you rely on your investment income.

Don’t look to the policial blogosphere either. They were too busy talking about ‘lipstick on a pig’ and ‘ominious photos’ to have discussed this. There are financial centered blogs – but as with all media – we subscribe to what fits our communities of interest. Hopefully you were subscribed to a good finance blogger. Not me. Wish I was.

Shout out to Metafilter, while a general interest link community, there have been a few discussions over the years indicating issues in the economy leading to today.

Update 7:01AM: Bloomberg TV just called it “the biggest financial shakeup since the Great Depression”.

Anyways, here we go.

Boing Boing: “America’s financial system was shaken to its core on Sunday.”

Wall Street Journal: Crisis on Wall Street as Lehman Totters,
Merrill Is Sold, AIG Seeks to Raise Cash

NYTimes: 5 Days of Pressure, Fear and Ultimately, Failure

NYTimes: Bids to Halt Crisis Reshape Wall St. Landscape

Metafilter: Brokergeddon.

Interesting Economy Blogs:

Grasping Reality with Both Hands: The Semi-Daily Journal Economist Brad DeLong

The Simple Dollar

Get Rich Slowly

self-evident.org

nacked captialism

Angry Bear

Know more? Especially those that have advice to handle this economic situation that is occurring?

Song of the day: Living Colour – “Cult of Personality”

MTV.com: Living Colour – Cult Of Personality

Look into my eyes, what do you see?

Cult of Personality

I know your anger, I know your dreams

I’ve been everything you want to be

I’m the Cult of Personality

Like Mussolini and Kennedy

I’m the Cult of Personality

Cult of Personality

Cult of Personality

Neon lights, A Nobel Price

The mirror speaks, the reflection lies

You don’t have to follow me

Only you can set me free

I sell the things you need to be

I’m the smiling face on your T.V.

I’m the Cult of Personality

I exploit you still you love me

I tell you one and one makes three

I’m the Cult of Personality

Like Joseph Stalin and Gandhi

I’m the Cult of Personality

Cult of Personality

Cult of Personality

Neon lights a Nobel Prize

A leader speaks, that leader dies

You don’t have to follow me

Only you can set you free

You gave me fortune

You gave me fame

You me power in your God’s name

I’m every person you need to be

I’m

The

Cult

Of

Per

Son

Al

Ity!

McCain is now ahead of Obama in Electoral Projections

Hey, I was Suburban Guerrilla-ed 🙂 Now back to the subject at hand…

FiveThirtyEight and Electoral-vote.com.

Meanwhile, truth is finally starting to trickle out of the newspaper press.

WashingtonPost: As Mayor of Wasilla, Palin Cut Own Duties, Left Trail of Bad Blood

NYTimes: Once Elected, Palin Hired Friends and Lashed Foes

But will the much more influential TV newscasts follow suit or keep the ‘controversy of the day’ story-lines that are to blame for turning so many folks off and away from voting (I know a number of folks who have grown disgusted these past few weeks and are not voting now – great work national newscasts).

David Weinberger on Echo Chambers: Echo chambers: The meme that will not die:

erhaps the persistence of the question is due to our shock at being shown who we really are. When all you can see of yourself is what the sanitized mass media show you and what you can see around you in your physical environs, the differences the Net makes visible unsettle us profoundly.

Sounds like some in the tech community are starting to wake up.

The Web is not built on love. It is a reflection of humanity. That is a vital difference.

The conversation at Doc Searls had a few folks circling in on some interesting conclusions about framing and what I call ‘attention influence’.

My friend Daniel Rubin, at the Inquirer thinks this is due to ‘stupid media tricks’. I hope he is including all of social media and bloggerdom in his definition of media. Memeorandum pretty much reveals that any media where controlling attention matters is subject to get involved in ‘lipstick on a pig’ activity. We’re in this together. It really is ‘We the Media’.

Naked Man Shocked With Taser

How we treat the mentally ill says a lot about how we think of our fellow man.

Local6.com Florida: Naked Dog Walker Shocked With Taser

And caught on film: CNN: Women dies in ER waiting room, her condition thought to be nothing more than “agitation and psychosis.”.

And just a reminder from LiveScience.com: Why We Are All Insane

So, what is ‘truth’ anyway? Ben Kenobi and Sarah Palin Share The Stage

What’s your reaction to Sarah Palin’s performance in her interview with Dave Gibson last night? If you were a conservative, it most likely was positive. If you were liberal, most likely negative.

How can I confirm such a crazy statement? How can there be two opposing opinions of the same event? Two different takes on the ‘truth’ of it?

Go to memeorandum and follow the discussion on blogs that match your political view point and follow the discussion on blogs that don’t.

Or switch between CNN and Fox News if you want a massively bad head ache.

Witness reality torn asunder.

Back in 1997 Dave Winer wrote a piece about programming that helped solidify how I felt about my career choice – he summed it up as a pursuit of truth: Programmers:

Programmers have a very precise understanding of truth. You can’t lie to a compiler. Try it sometime. Garbage in, garbage out. Booleans, the ones and zeros, trues and falses, make up the world programmers live in. That’s all there is! I think programming is deep, it teaches us about the non-cyber universe we live in. There’s something spiritual about computers, and I want to understand it.

…When a programmer catches fire it’s because he or she groks the system, its underlying truth has been revealed. I’ve seen this happen many times, a programmer languishes for months, chipping at the edges of a problem. Then all of a sudden, a breakthrough happens, the pieces start fitting together. A few months later the software works, and you go forward.

When I look at memorandum each day and click away from the warm confines of blogs that share my political view, I am confronted with the the fact that truth is greatly determined by our point of view.

Thank you Obi-wan Kenobi, you bastard.

John McCain’s choice of Sarah Palin as Vice President is both interpreted as a disaster by liberals and as an inspired move by conservatives.

But one thing is for sure, the move has dominated our attention and driven us a way from weightier topics like the economy and moves taking place across the world, with light weight controversies and indignities (kinda like Britney Spears news does every once and a while).

On this point, two folks I read daily for their points of view (usually opposing), greatly agree:

Doc Searls: Framing wins:

I don’t know if the McCain campaign actually intended for this to happen, but the way it looks to me right now, it’ll work. Palin is single-handedly turning Barack Obama into John Kerry: a policy wonk quarantined to the bottom end of the FM dial. It’s amazing to watch.

Groundhog Day: Competing Messages: Attention Deficit Nation:

…as I watched the media coverage around the announcement, and that of the self-important, self-aggrandizing “blogosphere,” it became clear, to me anyway, just what this was about.

While this is at least partially about winning attention for McCain’s candidacy, some of it even negative attention, it is mostly about taking attention away from Obama’s campaign. And, in that regard, it’s been a brilliant tactical move. Whether it will be enough to swing the election his way remains to be seen.

Obama at the bottom of the FM dial. And so moved are the policies and important events of the world taking place, while we are dazzled and spun every which way.

Jay Rosen outlined the strategy, in a piece posted on September 3rd, that was prescient: The Palin Convention and the Culture War Option:

John McCain’s convention gambit is a culture war strategy. It depends for its execution on conflict with journalists, and with bloggers (the “angry left,” Bush called them) along with confusion between and among the press, the blogosphere, and the Democratic party. It revives cultural memory: the resentment narrative after Chicago ’68 but with the angry left more distributed. It dispenses with issues and seeks a trial of personalities. It bets big time on backlash.

At the center of the strategy is the flashpoint candidacy of Sarah Palin, a charismatic figure around whom the war can be fought to scale, as it were.

It’s not like much of the press isn’t reporting on the lies and mischaracterizations spewing from McCain/Palin. Witness WashingtonPost.com on the 9th: As Campaign Heats Up, Untruths Can Become Facts Before They’re Undone:

From the moment Alaska Gov. Sarah Palin declared that she had opposed the infamous “Bridge to Nowhere,” critics, the news media and nonpartisan fact checkers have called it a fabrication or, at best, a half-truth. But yesterday in Lebanon, Ohio, and again in Lancaster, Pa., she crossed that bridge again.

Wired.com on the 10th: FactCheck.org Finds That McCain’s ‘Facts’ Don’t Check Out

Fact is the media, mass and independent, are being played like marionettes in a game to control your attention and keep Obama, policies, or real impacting events like the economy, from the public discourse.

Glenn Greenwald at Salon did a good job of tracking one of the latest false controversies – the ‘lipstick on a pig’ quote that was taken out of context. He mistakenly attributes the mass media as being the first on the story when Memeorandum was spreading the meme a day before it broke across the country: New heights of stupidity:

It isn’t surprising that the McCain campaign wants this sort of tawdry, Freak Show/Reality Show vapidity to determine the outcome of the election. If you were them, wouldn’t you want that, too? And though it’s not news that establishment media outlets are so easily and happily manipulated by these tactics, tactics which enable them to cover “stories” which their empty-headed reporters can easily comprehend, it is still striking to watch the now-decades-old process unfold and observe how absolutely nothing has changed.

It makes you wonder if ‘truth’ really matters anymore. Marc Fisher at Washington Post goes so far as to wonder if the Boomer ingrained distrust of authority has morphed into something far more ominous: For Working Moms, ‘Flawed’ Palin Is the Perfect Choice:

In this hyperdemocratized society, the national conviction that anyone can succeed is morphing into a belief that experience and knowledge may almost be disqualifying credentials.

Like many at the rally, Victoria Robinson-Worst sees Palin’s lack of experience as an asset. “I know people who have experience who are totally incompetent,” said Robinson-Worst, who lives in Loudoun County, designs wedding flowers and raises two children. “And I know people who have no experience who step in and get it right. I mean, women can do amazing things.”

This is where culture wars, identity politics and self-suffocating academic theories of deconstructionism have led us: Authority is suspect. Experience is corrupting. Ignorance is strength?

Next will be “war is peace.” Or have we already heard that one?

Shades of Nick Carr there huh?

Boing Boing posted about a book that might be the most important must-read of the year (I’m buying this today): True Enough: the science, history and economics of self-deception:

Manjoo makes a good case. He walks through a number of net-based conspiracy theories on both sides of the political spectrum, speaks with their adherents, the experts who claim it’s all bogus, and then to cognitive scientists and other scientists who explain the gigantic gap between what is so obvious to non-partisans and what is blindingly, passionately important to the adherents.

Grounded in history and science, True Enough paints a dismal picture of a species with a limitless capacity for self-deception and selective reasoning. But Manjoo doesn’t ascribe the rise of truthiness to fragmented media alone: he calls out PR firms, media outlets and others who have profited from the erosion of the truth.

Here’s a link: Amazon.com: True Enough: Learning to Live in a Post-Fact Society (Hardcover)

So what to do?

As a programmer with a drive to find and share ‘truth’ I have no idea whatsoever. To me, 2+2 will always equal 4. Trusting a sound bite is like criticizing a system’s infrastructure without recognizing the context it was built in. I don’t give a damn what a politician says on the matter. We should all be looking for the big balls of mud that provide us with truth.

But slacktivist has an idea (which I don’t agree with) and that is to fight fire with fire – witness his latest post – John McCain, Friend of NAMBLA.

And a reminder – beware the October surprise: NYTimes.com: Bush Said to Give Orders Allowing Raids in Pakistan. It’s about time we close the deal, but why did it take seven years?

Social Media/Software Links for Today

NYTimes: Brave New World of Digital Intimacy: About social networks and software and how we are using them to connect with one another.

Mind Hacks: The distant sound of well-armed sociologists – Reflections on the above mentioned NYTimes story.

wordle.net – generates graphical ‘word clouds’ from the text provided.

Reflections of a Newsosaur: Newspaper sales fall record $3B in 6 mos.

NPR.org: An Uneasy America: ‘Why We Hate Us’:

The Reality Club: A coversation On “Is Google Making Us Stoopid”.

J-School: Philly.com’s Convention Coverage and the Ethic of the Link

J-School: The Future of Journalism

Annenberg’s FactCheck.org: is doing a great job fact checking our candidates. Anyone listening?

SciAm.com: The Political Brain – Brain-imaging study shows political predilections are a product of unconscious confirmation bias. How we see reality is biased towards our own currently held beliefs.

Thoughts on the Republican Convention

I don’t talk about my poltical views as much as I used to here on my blog. There are a few reasons for that, more than likely dealing with burnout after the 2004 election and the fact that I know that my co-workers read this (hi folks!) now. So it feels… a little weird.

But still, I can’t keep quiet when I see something so infuriating take place.

Our two-party political conversation is little more than marketing pitches for two different corporations. Corporations whose goal is not to gain money, but to gain influence and an opportunity to be written into history via public service.

When an organization is selling us something it is confronted with a certain marketing reality – “benefits sell, features tell”. That was drilled into me a long time ago as a telemarketer for Sears, later as a trainer and supervisor.

It is no different here.

So what were the benefits each convention were selling us?

Both conventions closed with inspiring calls to service, wrapped in the clothing of “change”. But before those last few minutes, there where three to four days of pitches to the party faithful and the rest of the country that informed us that they were the party we could relate to, that cared about us the most, and that the other choice wasn’t a choice at all.

It’s kinda like Mac versus Windows. Both offer us the same features in the end. They even run on the same hardware these days. But the benefits they sell us thru soft features like interface, branding, and look and feel divide users into two warring camps. Don’t ever tell someone in the Apple faithful that a PC can do just about the same things, or vice versa. People will fight for their chosen brand and avoid the reality that they have bought into a brand in the first place.

This time, in this election, there really are different ‘features’ each will offer us. But those issues aren’t being discussed in the public sphere loudly since they rouse so much passion – for example – women’s right to choose. Which one of these parties would deny everyone else.

When that convention goer says that “freedom of choice” is different than being “pro-choice” – that is a triumph of marketing.

And notice how one convention avoided talking about policy whatsoever? Understandable since it plans doosies like pushing along the elimination of company provided health plans.

Instead, both parties sold benefits, soft features, like the inspiring call to the future and bridging of the red-blue divide that is Obama/Biden and and the call to reinforce country and family that is McCain/Palin.

One party offered uplifting oratory and generalizations.

The other offered ‘us versus them’ with does of sarcasm. And within that, a hella-load of lies.

So many lies I almost got as angry as I did watching the Republican Convention of 1992.

So many lies it reminded me of a NYTimes article where a Bush aide that belittled the “reality-based community” (no that is not a quote from the Onion!).

A McCain staffer said “This election is not about issues,”.. “This election is about a composite view of what people take away from these candidates.”.

They mean it folks. The marketing and the packaging bare that out. They are marketing directly to a large population of Americans who are angry and afraid of the future since so many of the cornerstones that were relied on have been knocked away.

So it comes down to which party will America choose? The one that uses divisive marketing to divide us into warring camps, to cast blame, or the other which reminds us that we worship a mighty God in the blue states as well as the red, that there’s not a liberal America and a conservative America, there is the United States of America – that we’re in this together.

We shall see.

McCain Campaign Manager: ‘This Election is Not About Issues’

That’s a real quote folks. Parse it carefully. Take it for what it is – a rare moment of revealing honesty.

Rick Davis, campaign manager for John McCain’s presidential bid, insisted that the presidential race will be decided more over personalities than issues during an interview with Post editors this morning.

“This election is not about issues,” said Davis. “This election is about a composite view of what people take away from these candidates.”

McCain choose Palin to reinforce the false idea that the GOP is the ‘regular people party’. (Is either party the ‘regular people party’ anymore?)

It’s human nature that drives us to choose leaders that remind us of ourselves in someway. Who we can relate to or hopefully relate to.

McCain is exploiting this, in the most craven, reckless way I have yet seen in my short life.

We need to stop looking at our leader’s personal lives to find things we can relate to or denounce and we need to cast light on our leaders policies and how they effect us.

But will that happen for this election? Will we rise to the challenge?

BTW – did ya know that Mayor Palin wanted to ban books (via rc3.org) that disagreed with her religious views?

Or that she slashed funding that helped teenage moms in need?

Or that she’s proud of her daughter’s decision to keep her baby? (Note that word – decision – shouldn’t everyone have that right?)

There is more than enough on the face of the issues to wage a good conversation over who is best to represent and lead the country.