One of the most concerning news stories of recent weeks is our low national savings rate. Last year it was a negative 1.6%. The previous year it was negative 1%. This year’s rate is the lowest in over 70 years.
For most Americans, that’s just another financial figure that goes in one ear and out the other. For some it’s not surprising, as they know first hand the impact of our mounting debt on their finances. They know what it feels like to be beholden to the bank.
Yet, for those who have a real understanding of this figure it’s pretty scary. It means we are spending more then we have money coming in. And a lot of that debt is not going to things that are improving us or building our country. It’s one thing to be borrowing money to get an education or buy an house or pickup truck, it’s another to buying more toys then you really need.
There is a lot of evidence that we are buying more toys then we need. We are too often sold consumerism and become blind to our own means or the costs of our consumption. Indeed, the personal financial transaction is minor compared to all the stuff we are amassing as individuals.
All those material possessions had to come from somewhere. They involved the exploitation of some material whether close or far away from us. They may have or may not have brought money into the local community. More likely then not, these days, they didn’t. And then they have to go somewhere.
There is no problem with making investments into the future. Likewise, there is no problem with purchasing material goods. But we need to be reasonable at what we buy and realize that there is only so much we really need. We need to focus more on ourselves and our communities, and stop buying things.
I try to be careful with saving money every week, and putting a little away for a goal. I contribute to my pension plan and a little bit my Roth IRA every week to save towards retirement. That’s fine, but I also like to save a lot more money into my boring old savings account for more immediate goals — within the next couple of years.
The problem is I really don’t have another goal. I am kind of saving for nothing, or actually one of many choices that I really don’t have a solid figure on what I want to do with the money. It also has grown tougher to save money these days, as the interest rates are so low that money doesn’t really grow much in the bank.
Idea 1: Save Money to Move Out of NY State.
I am not a big fan of New York State by any means. I think it’s policies are so dracionian, and it’s urban dominance means that Upstate will forever be governed by absentee landlords from New York City, who develop policies in wine bars high above the strip in trendy Manhattan.
I don’t like the Sullivan Act. I don’t like the burn ban. I don’t liek the Adirondack Park Agency, or just the state’s official dislike of all rural areas. I don’t like the fact the state increasingly nickling and diming working folks just to feed the beast.
But, hey I like the Adirondacks, Catskills, Greens, Taconics, and other amazing places being so close to home. The recession makes it hard to find a job elsewheres, and the reality is any place I would go would certainly involve a massive cut in salary, benefits, and a relearning of how to live.
But some day I do want to move out of state, on to some rural land, have animals, do a little hobby farming, play in the mud, shoot some guns, and burn things. I really dislike state’s open burn ban. But for now, the Adirondack Park and Catskill Park works well enough for me.
Idea 2: Go Back to College.
I’ve been toying with the idea of going back to college. But it’s so dang expensive. And I really don’t want to sit in class all day, and learn stuff I am not really interested in or could better learn on my own. I struggled through 6 years of college, in and out of school and at work to get my bachelors degree, and I am less then excited about the whole thing.
I would like to go back to school to study GIS map making, and turn my hobby into actually marketable skills. Doing that would allow me to make more money, but more importantly have more flexiability in where I live, so I can live in rural area not run by citidiots.
Idea 3: Sled.
I have been thinking about getting a snowmobile at the end of winter season for next year. Not something brand new, but something decently reliable that I could use to access the deep back country in winter. It might also be fun for camping in the winter, as I could strap a backpack on with gear.
But it’s also an expensive hobby to say least. Plus, even if I got a snowmobile in the spring time, I would have to store it until the winter before I could really use it for much better. But I figure an end of season special would probably save some real money.
Idea 4: Fix Up My Truck.
I got to fix the bumper on my truck. It annoys the fuck out me, to put it the way I see it. The way it is bent — the particular angle — is so ugly. Yet, do I want to just fix the parts that are damaged or do I want to get a real bumper for my truck? I know they make heavy duty off-road bumpers.
Which got me thinking — if I replace the rear bumper, shouldn’t I also replace the front bumper with a real bumper, so it at least matches? Or should I wait until I do something stupid and damage it?
Likewise, I want to jack my truck up. It would be fun to ride up higher, would add at least “visual” value to the truck, and make me like it better. Although, maybe I would eventually get tired of jacked up truck. But should I wait until the first set of tires are worn out, before going for the jacked up routine? I don’t know.
Many Possibilities.
I continue to chew over my choices and possibilities. Moving out of NY State — to a nicer state with more sane policies — continues to be a priority of mine, but that has to be balanced by my good paying job that pays the bills, and the proximity to the great Adirondack and Catskill Parks.
Then there are all the toys I could spend my money on. But toys require gasoline, which sure is expensive these days. Certainly having more money in the bank account makes it grow faster. But I also got to have fun, and have an excuse for saving money. So I don’t know.
Across New York State, bigger and meaner children are stealing the lunch money from smaller and weaker children. It happens every school day, and while it may not be fair or right, it’s likely to continue for the forseeable future. As it would be almost impossible to stop — we should do next best thing — license schoolyard bullies.
Licensing schoolyard bullies could bring in a sizable portion of revenue to the state. Nobody knows how much lunch money is stolen every year, but figuring there are millions of kids in Public Schools, there is the potential for millions of untapped revenue. Licensing schoolyard bullies could be a potential goldmine to tap to reduce the state’s yearly deficit.
Understanding the problem of bulling in schools, the state could dedicate a portion of funds coming from licensing and taxing bullies go to bullying prevention. A 50% tax on profits by school bullies could do a lot for all children. It would make the bullying business theoretically less profitable, and discourage bullying. It also would provide funds to monitor the actions of bullies to ensure that actions are appropiate — extracting funds from weaker children — while making sure their actions aren’t too abusive or harmful.
The fact is we are never going to get away from bigger and mean kids bullying weaker kids, and stealing their lunch money. It’s just part of growing up for the most unlucky of children. Yet, if this insitution is to exist, then at least their should be a kind of public function to schoolyard thief of lunch money, specifically funding of government.
… and remember, school yard bullies are not organized, and are too young to vote.
One of the things that bothers me is that NYSERDA, the New Yor State Energy Research and Development Corporation is located in the Albany Pine Bush in Corporate Circle, in a location primarily serviced by automobiles with minimal if any bus service through the CDTA ShuttleBee. Based on NYSERDA’s location, it is highly unlikely that any employees or visitors ever come to it using mass-transit. Most employees use gas guzzling private automobiles.
At the same time, there is a large amount of vacant office space downtown, that should be put into use. It’s quite possible that there would be sufficient room to move all of NYSERDA’s operations to a portion of 625 Broadway, home to the Department of Environmental Conservation and Environmental Facilities Corporation. With recent layoffs and the hiring freeze, there probably is ample space in there.
If not, as New York Times recently documented, the 12 floors of the Corning Tower that are currently sitting vacant would be an ideal place for NYSERDA. Quite a bit of scientific research and bureaucratic work gets done in the Corning Tower by the Health Department and Health Services Corporation, and it seems only natural for a public corporation like NYSERDA to consider locating to this location.
Alternatively, NYSERDA could consider renting a private building downtown like the Arcade Building. Many of these buildings have been vacant for a long time, and it’s possible that the rent they could get is far below what they paid for the sprawl rent in the Albany Pine Bush. While they wouldn’t get the parking spaces next to their offices downtown, what they would trade that in for would be less air pollution and lower energy consumption.
NYSERDA Should Be Setting an Example …
Rather then focusing on super-cars that only wealthy state bureaucracies can afford, they should be focusing on promoting compact communities serviced by mass-transit. While NYSERDA can’t force it’s employees to live in Albany, nor should it necessarily do as such, it can promote the benefit of having a workforce that works downtown in a highly energy efficient fashion.
The agency can promote the ease and convenience of working downtown, along with the energy and time savings. By not including significant parking in their relocation, they encourage employees and visitors to come using mass transit. NYSERDA could go farther and educate all existing and new employees about the many Park and Ride sites and bus service in the Capital Region, along with providing discount or free bus passes to all employees and visitors.
We need to think seriously about investing more into mass-transit . Transit is the future for our urban-areas, and all large employers of the future need to be located near transit lines that are regularly serviced, and reduce employee’s commuting distances.
… NYSERDA: It’s About Making Smart Energy Choices.
Sure a car will rust and decay, fall apart, and be another junker. One might say it’s a waste of money.
When cars are not being driven solely for pleasure, they are the most miserable beasts, forcing one to follow extreme restrictions and control measures, doing nothing but forcing us to labor for meaningless waste.
