CORRUPTION: Ever wonder how politicians get so rich? They funnel billions into NGOs where their families work and who pay them to speak and to serve on boards. The $24 billion California spent on the homeless crisis went almost exclusively to NGOs who rely on a steady stream of… pic.twitter.com/48g8WkO9Y0 — @amuse (@amuse) September 22, 2024 This is common. People make money advocating for the solution to a social problem. They don’t solve the problem, they advocate for a solution to the problem. If the problem were solved, their money stream would dry up. Perverse incentives, as the poster says. Read more →
EppsNet Archive: Money
Political Suicide Averted
Gavin Newsom Slaps Down Democrats’ Attempt To Give Home Loans To Illegal Migrants https://t.co/NPkK9lDjDu via @dailycaller — Paul Epps (@paulepps) September 8, 2024 I heard Nancy Pelosi on Bill Maher’s show saying this bill was a great idea. Maher suggested that free houses for migrants is maybe not a great idea. “It’s not free housing,” Pelosi said. “It’s making the American dream available to more people.” HAHA. “It’s making the American dream available to people who are not Americans.” People who’ve lived and worked in the US their whole lives can’t afford to buy houses. Especially in California. Let’s say we did give free down payments to illegal immigrants. How are they going to make the payments? It’s illegal for them to hold a job. How are they going to pay for insurance, property tax, HOA, upkeep? To Newsom’s credit, he recognizes political suicide when he sees it. Read more →
I Used to Be Depressed, Broke and Anxious
I used to be depressed, broke and anxious. Now I’m just depressed and anxious. 🙂 I appreciate this gentleman contributing free advice. It seems worthwhile. But something is off when the first thing a person tells you about themselves is how much money they make. I just read an article about a loneliness epidemic in Silicon Valley. People make a lot of money in Silicon Valley but apparently can’t figure out how to convert it into joy or connection. I’ve never seen any evidence that people with a lot of money are happier than anyone else. Quite the opposite, really. People think they’d be happy if they just had lots of money. Then they get lots of money and they’re no happier than they were before. Plus they’ve lost the fallback of thinking that the reason they’re not happy is that they don’t have a lot of money. There are… Read more →
“All These Things That I Believed In For All These Years No Longer Exist”
View this post on Instagram A post shared by CBS Sports College Football (@cbssportscfb) Read more →
The Three Nevers of Working With Recruiters
I recently read a LinkedIn post written by a recruiter, the gist of which was that recruiters are fully transparent with candidates, therefore candidates should be fully transparent with recruiters, and candidates who are not fully transparent about things like current salary are “cagey.” That was the word the author used — “cagey.” Multiple other recruiters added supportive comments. Full transparency is not a quality I associate with recruiters, even though I’ve worked with some excellent recruiters that I like a lot. Recruiters work for clients. They get paid by clients. When they submit you for a job, they also submit multiple other candidates to compete with you because that maximizes their chances of getting paid. I suppose everyone knows this but it’s never mentioned. It’s not something recruiters are transparent about. Never tell a recruiter your current salary. In some localities, like my state of California, asking a candidate’s… Read more →
I Got Mine
I read a post today on LinkedIn that started out like this: “Your salary increase will be 2%,” I told her. It was one of my worst moments as a people leader. She was my star performer, my right hand person. 1000% business critical to our team. Yet 2% was the best our company would give her. It was far beneath her value, and we both knew it, and I couldn’t do better for her. The author goes on to say that he advised her to look for a new job that would pay what she’s worth, which she did. And the moral of the story is that you can’t complain when employees leave if you don’t give them reasons to stay. Surprisingly to me, the poster got a lot of recognition and praise for his handling of this tale of woe. I don’t like the story myself. As I… Read more →
A Dissent on the Biden Radio City Fundraiser
What we saw last night was the president’s ‘let them eat cake’ moment. Millions of Americans are suffering because of the mismanagement of this economy. I say this frequently. We’re seeing record numbers of foreclosures, people are having their cars repossessed, we are seeing a silent job loss because the reports are now showing that the actual growth in employment is in part-time jobs, not in full-time jobs. It is totally and completely unseemly, in this economic environment, for our president to say that we’re going to try to set the record for the amount raised. No money to help people buy eggs and bacon. No money to make sure that people can afford gasoline. — Horace Cooper Read more →
EppsNet at the Movies: The Big Short
My connection with the events depicted in The Big Short is that I worked in the information technology department of a mortgage bank in the run-up to the 2007 implosion of the subprime mortgage market. Many of the big players in that market, like New Century and Countrywide, were based here in my backyard — in Orange County and Pasadena. Given that it was fairly evident at the time that complicated financial instruments were being dreamed up for the sole purpose of lending money to people who could never repay it, it’s remarkable that very few people foresaw the catastrophe and that even fewer actually had the nerve to bet on it to happen. Long story short, the major rating agencies — Standard and Poor’s and Moody’s — were incompetent in their rating of subprime mortgage bonds, giving investment-grade and, in some cases, triple-A ratings to high-risk instruments. A lot… Read more →
EppsNet at the Movies: Dumb Money
I laughed non-stop through Dumb Money, except during the parts that weren’t intended to be funny. I had to take off a star because (minor spoiler alert, since the movie’s based on a true story that everyone knows) it’s a David vs. Goliath movie, and the Goliaths get their comeuppance, but that’s conveyed principally through explanatory text on the screen after the movie is essentially over. The comeuppance should be on-screen! Show, don’t tell! Rating: Director: Cast: IMDb rating: ( votes) Read more →
Morality of Student Loan Debt
I saw a post on LinkedIn in which the poster shared that his son got a college acceptance letter, but the son felt guilty about how it might affect the family finances. The poster shared the following question: Parents and Students – how have you managed this experience, dealt with any guilt, and yet maintained your excitement for the incredible experience ahead of you? My answer: How did we manage the experience? We always emphasized education in the Epps household. My son worked very hard in high school, got admitted to his dream college. What would we say at that point? “Congratulations, son! As a reward for your efforts, we’re going to allow you to take on student loan debt that will haunt you for the rest of your life”? Maybe “immoral” is too strong a word for that but I have a deep negative feeling about parents letting kids… Read more →
Feel-Good Marketing
Over the past few years, marketing has become much more inclusive in terms of using models of all ages, shapes, sizes, colors, not retouching the photos, etc., rather than saturating our lives with images of flawless, unattainable beauty. Why is this not a terrible idea? Of course, we’re all beautiful in our own way, but from a marketing perspective, the ideal consumer is someone who is anxious, depressed and constantly dissatisfied. Academic studies from the most respected institutions show that sad people are bigger spenders. Helping people feel better about themselves the way they are may be laudable, but it doesn’t make the cash box jingle. P.S. I’ve never worked in marketing but I think I’d be good at it. Although I would also hate it. Read more →
Thomas Jefferson on Bidenomics
My fellow Americans – President Biden is currently on a “Bidenomics” tour. Terrible name, “Bidenomics,” because nobody likes Biden so they’re not going to like anything with his name in it. Call it “Satanomics: The Economy is Stronger Than Hell,” which is a lie but so is everything else he says about the economy. His economic team recently posted a “Here Are the Facts” video, the first of which is, “Under the Biden Harris Administration Inflation Has Fallen.” That’s true — if by “Fallen” you mean “Risen.” The annual inflation rate when Biden took office was 1.4 percent. In May 2023, it was 4 percent, about three times higher. Inflation is lower today than the 9.1 percent peak that we hit last June, but you don’t get credit for pushing it to unprecedented levels and then watching it come back down, particularly since it only came down as the Federal… Read more →
Billionaires
The average billionaire in America pays 8% in federal taxes. Teachers and firefighters pay more than that. That’s why I proposed a minimum tax for billionaires. Republicans are against it, but I’m going to keep fighting for it. — Joe Biden (@JoeBiden) June 26, 2023 Reading Joe Biden’s Twitter is exquisitely painful, like a sore tooth that you can’t stop pushing on with your tongue. How do these things even go together? Americans are not taxed on their net worth, they’re taxed on their income. At least that’s what I think he’s talking about. Income tax. Although there are a lot of other federal taxes: self-employment tax, gift tax, excise taxes, etc. Is he talking about taxing people’s net worth? I don’t know. I can’t figure it out. I’m not a billionaire myself because I don’t know how to make that happen. If someone has figured out how to do… Read more →
The NRA is a Red Herring
Every time some gun-related tragedy occurs, we get to hear from innumerable people who know nothing about guns other than everything is the NRA’s fault. And everything they think they know about the NRA is wrong. In other words, they think they know one thing but the one thing they know is wrong. The thing they think they know is that the NRA pays off (Republican) politicians to vote against gun control bills. I asked ChatGPT “How much does the NRA donate annually to politicians?” And I got this answer: The National Rifle Association (NRA) is a powerful lobbying organization that has donated millions of dollars to political candidates and causes over the years. However, the organization is not required to disclose its exact political contributions, and the amount it donates can vary widely from year to year and election cycle to election cycle. According to the Center for Responsive… Read more →
And That’s the Truth: Learn to Read!
[And That’s the Truth is a feature by our guest blogger, Sojourner Truth– PE] Chicago Democrat sounds alarm as 55 schools report no proficiency in math or reading: ‘Very serious’ — foxnews.com “No proficiency” means there ain’t one kid can read or do math in the whole school. Not one. A Illinois state senator named Willie Preston says “I think that we have to reengage parents, have parents actively take a role inside the schools when they can be, but in addition, we need to make certain that we … spend our money in the right way as it pertains to our children’s education.” You gotta engage parents, I don’t see why you gotta reengage em. Damn schools were closed for two years. Parents had to school their own kids. If there ain’t one kid in the whole school that can read or do math, you tellin me the parents… Read more →
What the State of the Union Didn’t Say
The president entered office with a 1.4% inflation rate and spiked it to 7%. 30-year mortgages of 2.7% soared to 6.5% in less than two years. Eggs are $7 a dozen. A thin steak is $15 a pound. A sheet of plywood is $95. Gas averaged $2.39 a gallon when the president took office and even after draining the Strategic Petroleum Reserve it is still $3.50 a gallon. In my state, California, gas has recently been over $5 a gallon. The price of natural gas has tripled in less than a year. In two years over 5 million foreign nationals poured into the United States—all illegally across a nonexistent border. The president said that he “lowered” inflation, energy prices and interest rates after sending them to astronomical levels and then seeing them momentarily taper off a bit. Like Nero bragging about rebuilding Circus Maximus after burning it down. He omitted… Read more →
Shell and Apple
Shell recorded a record profit in 2022 of $40,000,000,000.That’s 40 billion. That’s double their $20,000,000,000 in 2021. Aren’t you happy for them? Because your life is great too. — Phil Hendrie (@realphilhendrie) February 2, 2023 How much should they make? Apple made $120 billion selling gadgets. Shell sells a product people need. Read more →
Median Income by Ethnicity
It would be nice if modesty prevented me from saying that my household income is much higher than the median Indian household income. A lot of you white people out there are pulling down the average. Read more →
If California Slides Into the Ocean
And if California slides into the ocean Like the mystics and statistics say it will I predict this motel will be standing Until I pay my bill. — Warren Zevon, “Desperadoes Under the Eaves” Read more →
Wealth Tax
How do those two things even go together? What gives the government the right to use any individual citizen for the benefit of others? https://t.co/4WUNRlURzz — Paul Epps (@paulepps) January 16, 2023 Read more →