VOLUNTARY EXPATS ARE REPLACING POLITICAL EXILES

   

“The idea of being away from home is so inconceivable to me.”  Zadie Smith

History gives us many examples of individuals who supported an out-of- favor political cause who were then forced or opted to live outside their native country. In early modern history, these individuals were often coerced to leave by political enemies and branded exiles. Today, those on the wrong side of election outcomes are more likely to become expatriates (expats) who voluntarily leave their country of origin. This commentary will explore the escalating trend of those opposed to Trump to leave the United States since he was elected president.

First, a brief history on exiles. Traditionally, those exiled for their political beliefs, did not want to leave their culture, extended family, or fellow citizens. Often an exiled individual was the deposed sovereign leader of his people. According to Wikipedia, throughout history 95 important heads of state have been exiled from their homeland based on shifting politics.

To avoid political dissent, governments have also exiled citizens who threatened their claim to power. In 41 AD, Roman Emperor Claudius exiled the respected philosopher Seneca to the island of Corsica for his political beliefs.

In 130l AD, the famous poet, Dante Alighieri, author of The Divine Comedy, was exiled from Florence for his political affiliations. He was banished at age 36 never to see the city again.

The well-loved author, Victor Hugo, was forced out of France in 1851 due to his opposition to the Second Empire of Napoleon III. Hugo spent 19 years in exile on the Channel Islands of Jersey and Guernsey. After the fall of the Emperor, Hugo returned to Paris in 1870 to the welcome of cheering crowds. 

More recently in 1959, the Dali Lama, both the spiritual and temporal leader of Tibet, was exiled by the Chinese. The Soviet Union stripped Andrei Sakharov of all his Soviet titles in 1980, then exiled him to the city of Gorky. Not until 1985, when Mikhail Gorbachev came to power, was he allowed to return to a normal life in Moscow.

The largest exile movement in the United States took place immediately following the American Revolution. Sixty thousand British loyalists, confronting real doubts about their lives, liberty, and potential happiness in the new republic, left the colonies and started over elsewhere in the British Empire. They took fifteen thousand enslaved people with them, bringing the total exodus to seventy-five thousand. This represented one in forty members of the American population. Based on the aggression they faced in the new nation, the decision to leave was far from a free choice.

A second example of a proposed large exile in America was an abject failure. Before and after the Civil War, some misinformed white Americans supported a “Back-To- Africa” movement designed to transport freed slaves to Liberia. Very few African Americans favored such an option. Less than 20,000 decided to return. Instead, a majority of Black Americans were determined to stay and support the abolitionist and later civil rights movements to obtain civic equality.

There are now few political circumstances that would force citizens to leave the United States. Nonetheless, according to VisaGuide.World, the number of Americans looking to live abroad jumped by 1,500 percent following Trump’s election. All of the internet travel sites reported increased inquiries from discouraged Americans researching the requirements for living in another country. The topic is being discussed by journalists and on blogs across America. While it is not known how many citizens will actually leave, the exploding interest in escaping America to become an expat is unmistakable.

There are several reasons why despondent Democrats are seeking to live abroad. First, threats supporting post-election political retribution were rampant. While campaigning, Trump consistently voiced the opinion that Democrats were the “enemy from within.” He has said, “They are so bad and frankly they’re evil.”  Moreover, never before had a presidential nominee openly suggested turning the military on Americans simply because they opposed his candidacy.

Second, many Americans are vigorously opposed to Trump’s proposed policy positions. They believe he will ratchet up the anti-democratic tendencies he exhibited four years ago and turn America into an authoritarian nation.

Third, in recent years several countries have become pleasant destinations for American expats with great weather and excellent medical facilities. These include Cost Rica, New Zealand, Portugal and other Southern European countries. Canada remains in the mix despite Trump’s taunting of Canadian officials that he will make it the 51^st state.

Personally, I agree with Cara Hoffman, a former expat, who recently wrote a guest essay for the New York Times. She believes that potential expats “should be imagining what it is they want instead of reacting to what they fear.”  Hoffman concludes that, “Would-be Trump expats should be aware that in this age of social media and American cultural dominance, there is little way to avoid the United States.”

The domestic political situation may indeed become uglier and more threatening. President Trump and his allies will no doubt cheer political opponents leaving the country. However, becoming an expat is not the answer.

There is another option that former exiles from Victor Hugo to Russian dissidents would find a better choice. Stay home and embrace the famous words of civil rights leader and Congressman John Lewis: “Get in good trouble, necessary trouble, and help redeem the soul of America.”

 

 

 

 

 

 

WE HAVE TOO MUCH STUFF

 

"Not what we have but what we enjoy, constitutes our abundance.” Epicurus

Following an excess of holiday giving and receiving, many of us make New Year’s resolutions to tidy up the house and to discard what we no longer need. We also make solemn promises to organize all of our stuff.

Sensing our January emotional needs, every brick-and-mortar retail store is suddenly piled high with plastic storage containers. Unfortunately, like going to the gym, rarely are these efforts carried through past Valentines Day.

My spouse and I are not hoarders. However, our basement and attic are full of objects that never became part of our living space. While I am not as bad as the teenage son in the Zits comic strip, where clothing and dirty dishes are piled up in every corner, my sock drawer is an unmanageable twilight zone.

For both of us, finding stashed away household and personal items when we need them is often a maddening adventure. Our brain cells do not fully charge like they used to, and the house is large and uncooperative. Short of attaching Apple air-tags to these elusive objects, what is to be done?

Apparently, we are not alone. According to a survey by Pixie Technology, which measures modern trends, the average American spends a total of two and a half days every year looking for misplaced household items. More than $2.7 billion a year is spent replacing misplaced possessions. Disorganization is rampant in American lives.

 

A recent article in the New Yorker Magazine, What Professional Organizers Know About Our Lives introduced me to a thriving industry that is now in vogue. Its sole purpose is to attack clutter and to organize personal belongings. It turns out that Professional Organizers are not simply a legitimate vocation, their trade has turned into a broadening phenomenon. The author, Jennifer Wilson, proclaims that “Decluttering – with the advent of how-to books, Netflix series and even Hallmark movies based on the subject – has become central to American culture.”

Wilson agrees with the Washington Post that the pandemic accelerated our national focus on home organization. She explains in some detail the accepted rules to defeat clutter: “Americans who hated math suddenly could not stop talking about the four-box method (four boxes per room, labelled ‘Keep’, ‘Give Away’, ‘Throw Away’ and ‘Storage’; the 20/20 rule (toss anything you could replace in twenty minutes for twenty dollars); and the one-in-one-out rule (throw out one item for every new one you acquire).”

Before the Pandemic, the Japanese author Marie Kondo was credited with sparking both the do-it-yourself movement and professional organizer line of work. In 2014, this decluttering celebrity published “The Life-Changing Magic of Tidying Up. The book became a best seller with fourteen million copies sold. It also spawned the 2019 Netflix hit series “Tidying Up with Marie Kondo.” According to Wikipedia, “the show had a notable cultural impact in the U.S. and the UK, where it was reported to have increased donations to charity shops.”

Kondo argues that most organization methods advocate a room-by-room approach, which is not effective. She encourages tidying by category. Her system begins with clothes, then moves on to books, papers, miscellaneous objects and finally sentimental items. Her Japanese Zen training urges us to keep only those things “that speak to the heart” and to discard items “that no longer spark joy.”

Kondo has now authored three additional books. While the first was an introduction into her methods, the second, An illustrated Master Class on the Art of Organizing goes deep into the details. The third, Organizing Your Professional Life, offers strategies to help eliminate clutter at work.

It is Kondo’s fourth, most recent book, Marie Kondo’s Kurashi at Home that I find most interesting. Published at the end of 2022, Kondo was now married with three children. She was struggling like many young mothers to keep her life in order.

The Japanese concept of “Kurashi” means “way of life”. Her advice is no longer singularly focused on organizing. Instead, she tells her readers: “I was a professional tidier, so I kept my home tidy at all times. I have given up on that in a good way. Now I realize what is important to me is enjoying spending time with my children at home.”

Funny what a husband and three young children will do to an award-winning theory of organization. For Kondo, taking advantage of every moment has replaced perfection in tidying up.

In November 2024, the definitive book on Professional Organizers was published. The author, Carrie Lane spent years studying the topic before releasing More than Pretty Boxes. The book does a deep dive into how these experts alleviate the demands society places on our limited time and energy.

Lane tells us that professional organizers are usually women seeking self-directed work. The book explores the strategies organizers use to help people part with their belongings. It raises social questions of overconsumption and the nature of unpaid home organization that places unfair demands on women. The book also discusses the psychological implications of emotional connections to stuff we own but never use.

Lane concludes that professional organizers are best thought of as “therapists of capitalism.” They form a relationship “suited to people trying to manage their copious belongings while also working through their feelings around their stuff and the labor it demands of them.”

 

 

 

 

 

FINDING HOPE IN THE AFTERMATH

 

I was baffled by the contrasting messages coming out of Syria, where rebel fighters overthrew Bashar al-Assad after decades of despotic rule, and from progressive Democrats following the recent election of Donald Trump.

In Syria, the CBS news show, “60 Minutes,” interviewed exiled factory owners returning to their bombed-out facilities, eager to rebuild. Families in towns destroyed by Assad, living in piles of rubble, only wanted to talk about what freedom felt like after fifty years of living in fear. Parents who finally learned the fate of their sons, killed in the Assad prison system, were relieved to have closure and talked about the future of their country. Hope appears to dominate the social fabric of Syria.

The opposite mindset was expressed by many Democrats following the election.  Author Ben Tarnoff reflected the thoughts of many when he wrote for The New York Review, “Trump’s style is simple, a gleeful hostility toward the institutions that have traditionally organized American life. He positions himself not merely as an outsider but as a destroyer: someone who delights in the demolition of norms and normalcy.”

Shortly after the election, an editorial in the U.S. edition of the Guardian had this to say, “Today is a day of despair, and it would be futile to tell those who fear and grieve for what is to come in America that they will be OK. It would also be dishonest: many of us, in truth, will not be OK.”

How is it possible that such widespread hope can exist among Syrians who continue to live at a subsistence level in an unstable environment? Conversely, what can explain the feelings of impending doom of so many Americans, who enjoy a high standard of living, surrounded by national exceptionalism?

To get some answers, I sought advice from my neighbor, a wise, retired psychology professor. He explained that in Syria, expectations were so low for so long that any positive news created an outpouring of hope for improved conditions. On the other hand, before the election, the expectations for being rid of Trump and sending him to prison were high among progressives. The Trump victory, with many voters who previously voted Democratic now supporting him, sent loyal Democrats into a deep funk.

In America, there was also the psychological tendency for people to overemphasize the negative.  “Negativity bias” ensures that unpleasant results have a greater impact and last longer on one’s psychological state than neutral or positive ones. This helps explain the willingness of Trump supporters to back the “stop the steal” movement since the 2020 election even though there was no evidence of voting improprieties. Similarly, upset progressives now warn of the “end of democracy” even before Trump takes office. In addition, most news coverage is predominantly negative and reinforces this trend.

I decided to stand back from recent occurrences in Syria and America to gain some perspective on where events are heading. In Syria, despite the recent abundance of hope, the political and economic prospects for the country are not encouraging.  As the statues of Assad were being pulled down, a scramble among sectarian rivals was on to see who would replace him.

A number of factors must come together to ensure that the situation in Syria improves. First, there must be an open, comprehensive dialogue involving all social, ethnic, and religious groups leading toward free and democratic elections. Second, foreign powers must agree to preserve Syria’s territorial integrity. Third, the militia that took down Assad must agree to protect minorities, women’s rights, and to prevent acts of vengeance. Fourth, governments and humanitarian groups must provide short-term food relief and longer-term reconstruction aid. Fifth, the chemical weapons manufactured by the Assad regime must be secured and destroyed. Lastly, a pathway must be established for the safe return of refugees.

A recent article in Foreign Affairs Magazine concludes that “The Syrian people face monumental challenges. Piecemeal solutions will not suffice, but realistic goals must be set.” Much must go right in the most dangerous area of the world not known for its success in nation building.

Turning to the pessimism following our election, I was encouraged by the recent and final column of Paul Krugman, an economist and writer for the New York Times. In the article, “Finding Hope in an Age of Resentment.” Krugman points out that when he started writing his column twenty-five years ago, most Americans were optimistic and “took peace and prosperity for granted.” He believes that “optimism has been replaced by anger and resentment” and that “the satisfaction with the direction of the country has disappeared.” This is because “governments have lost the public’s trust.”

Krugman explains there is a way out of the grim place we are in. He argues, “Resentment can put bad people in power but can’t keep them there. The public will realize that politicians railing against elites actually are elites and start to hold them accountable.”

Krugan concludes, “We will eventually find our way back to a better place.” This will happen when, “The voting public begins to listen to people who don’t try to argue from authority, don’t make false promises, but do try to tell the truth as best they can.”

Despite the contrasting public moods, my guess is that after the next national election cycle, democratic institutions in America will be far healthier than in Syria.

 

 

 

 

 

 

CRYPTOCURRENCY IS HERE TO STAY

 

 

“I can say with almost certainty that cryptocurrency will come to a bad ending.” Warren Buffet

 

Recently, my commentary discussed the need to improve financial literacy in America. This week, I will provide some basic information on a type of investment that only a few short years ago seemed too risky and volatile for even the most seasoned investor to consider – cryptocurrency, also known as crypto.

This perception is about to change. The election of Donald Trump will bring crypto into the mainstream of our financial system. While many of us may never purchase any crypto product, like artificial intelligence, crypto now deserves our attention. At a minimum, we should understand what it is and how it works.

Bitcoin, which was launched in 2009, was the first cryptocurrency, and it remains by far the largest of the numerous offerings. By mid-2024, there were 10,032 different digital currencies in this asset class with new types of crypto constantly coming to market.

Crypto operates as a digital alternative to traditional money issued by governments. The currency is often called a "coin" because it represents a unit of digital value that can be exchanged like a traditional physical coin, even though it exists solely online.

To maintain a record of who is buying and selling crypto, a technology known as “blockchain” confirms and records all transactions on a publicly available digital ledger. The blockchain replaces the need for financial institutions to hold currency and to track its movement. In theory a blockchain is tamper proof and designed to prevent any type of fraudulent transaction.

To make a crypto transaction, a user simply needs a “wallet” or digital address which holds each individual’s digital currency.  An access “key,” known only to the user, ensures private and secure transactions. A buyer authorizes the movement of a specified amount of crypto from his/her wallet to the seller’s wallet address. For the system to work efficiently businesses known as digital currency exchanges are required. These entities act as clearing houses and online marketplaces for the purchase and sale of crypto.

Advocates of crypto believe it is the future of money.  However, according to a recent survey by Pew Research, only 17 percent of U.S. adults have owned any crypto product.  In addition, a majority of Americans over age 50 view crypto with skepticism and are not confident of its safety or reliability.

Two examples help illustrate why the public has been suspicious of the crypto market. First, in 2022, the large crypto exchange FTX was widely regarded as safe and one of the best organized. When FTX failed because of mismanagement, including embezzlement of billions by its founder, Sam Bankman-Fried, the very foundation of the crypto industry was shaken and came under attack.

Second, among all asset classes, crypto has one of the most volatile trading histories. This is because crypto is not traded on its fundamentals. It is traded on speculation of future price movements. 

The currency has experienced several massive rallies and spectacular crashes since it first became available. This month, the total value of the top 125 crypto coins— stands at $3.6 trillion, some $2 trillion of which is Bitcoin, just over 55 percent. That’s up 124 percent year to date and 1,720 percent over the past five years. But it is important to remember that Bitcoin also fell over 71 percent from September 2021 to November 2022.

The Biden administration began a push to regulate the crypto industry under its Securities and Exchange Commissioner Gary Gensler. This agency sought to categorize the vast majority of crypto as securities. It proposed strict rules for formation and operation of crypto assets. In a recent setback for Gensler, the SEC was forced by courts to review its denial of certain Bitcoin-related investment products, including exchange-traded-funds. Gensler will resign from the SEC before the Trump Inauguration and will be replaced by crypto-friendly Paul Atkins.

Trump made the removal of the SEC boss and the favorable treatment of crypto a promise to the industry while on the campaign trail. Following the proposed nomination of Atkins, the price of bitcoin surged above $100,000 per coin for a new all-time high.

On December 6, the investment site Barron’s observed, “We are about to be governed by the nation’s first unabashedly pro-crypto administration. Instead of being stymied by the federal government, the crypto cosmos will soon be enabled—nay, driven—by Trump and his team.”

One of Trump’s campaign promises that most excites the industry is his plan to create a national strategic reserve of bitcoins. A strategic reserve is a set of external assets that are immediately available and under the control of the monetary authorities. Under the plan, crypto would be incorporated into the mix of assets that the nation has on its balance sheet with the aim of diversifying reserves.

 J.P. Morgan analyst Ken Worthington recently told his clients, “The anticipation of a more crypto-friendly environment under a Trump administration is driving a surge in crypto business initiatives.” To help the industry, it is reported that Trump is considering the elimination of capital-gains taxes on cryptocurrencies issued by U.S.-registered companies. 

Some worried business leaders point out that it is now unlikely that any meaningful regulations will be promulgated to protect the public from disasters like the FTX bankruptcy. While crypto is moving into the financial mainstream, investors need to carefully weigh their options.

 

A YEAR OF DISCOVERY AND WONDER

 

In many respects 2024 has not been a year to foster fond memories. Two major wars continue to rage in the Middle East and in Eastern Europe. Natural disasters domestically and abroad, destroyed thousands of lives. Around the world, liberal democracies were challenged by authoritarian political actors.

In the United States, while the wealthy benefited from a rising economy, inflation made it difficult for many Americans to maintain their standard of living. Following the national election, half of the voting public was at first depressed and then angered when a convicted felon, Donald Trump, was easily elected president. The country remains more divided than ever.

While many aspects of human social progress appeared to backslide in 2024, significant technological and scientific advancements exploded. These events did not garner our attention like the many social disruptions. Thankfully, important scientific discoveries happen in an environment independent of societal changes.  Scientific and medical progress is not linked to how people think, interact or treat each other within a society. For the most part, scientists continue to challenge accepted solutions until better ones are discovered, free from political conflict.

To encourage some year-end holiday joy and “good will toward men,” I will highlight some amazing discoveries that should give us hope for the future.

Energy. “Water splitting” to form hydrogen and oxygen using solar energy in the presence of semiconductor photocatalysts has long been studied as a potential means of clean, large-scale fuel production.  In 2024, there were advances in using photocatalytic sheets to split water into its elements using the power of the sun. Photocatalytic reactors can be used in a variety of applications, including the conversion of pharmaceuticals, wastewater treatment, and air purification. 

The Heart. It may soon be possible to “repair a broken heart.” Previous heart developments included tests that identify hidden heart disease and images of a “digital twin” of a patient’s heart that enables precise pre-surgery modeling.

Major progress was made in using genetically modified pigs to provide personalized organ donors. A company called “Organamet Bio” has mastered growing heart cells from stem cells cultured from a patient’s blood. The cells are “engrafted” into a scaffold created with a pig’s heart that closely resembles the human heart anatomically. Clinical trials will begin soon.

In addition, advances have been made to regrow heart muscle after heart attacks using stem cells. This approach would reverse rather than alleviate chronic organ illness. According to the Wall Street Journal, “Damaged heart muscle affects about 6.5 million people in the U.S. and is the leading cause of hospitalization among Medicare patients.”

Cancer Treatment. Researchers are making great strides toward developing vaccines that instruct healthy people’s immune systems to eliminate the presence of cancer before it can develop. According to Dr. Ajay Bansal from the University of Kansas Cancer Center, “It is the future of cancer prevention.”

In fact, a cancer-vaccine renaissance is underway after decades of false starts. A better understanding of the immune system has rejuvenated the field. Companies like Moderna, that helped develop the Covid-19 vaccine, are working to bring new treatments to market.

Pre-cancer and cancer cells know how to hide from the immune system. The new vaccines use proteins that cancer cells produce to train the immune system to hunt down the abnormal cells. The new vaccines boost the immune response and direct it where to go.

Help for the Blind. Blind people are missing out on how the rest of us use electronic devices for reading, movies, and accessing the internet. New touch technologies are about to bring screentime to the blind. Specialized digital devices are being manufactured that display raised braille text and tactile graphics, refreshing in real time. Researchers are working on ways to permit live sports to be followed by touch.

A South Korean company, Dot Inc., has created an electromagnetic system that allows thousands of tiny pins to move up and down on the surface of a digital pad that is part of a refreshable braille display.

According to the Center for Disease Control and Prevention, more than seven million U.S. citizens have impaired vision. One million are totally blind, and 50 percent are unemployed. Experts have determined that in education “listening is not literacy.”  The blind must be able to access books, classroom materials, and technologies in order to be productive. The South Korean device, the “Dot Pad” is making this possible.

Ultrasound waves treat addiction. Neuroscientists have long defined addiction as a brain disease. Now, some addicts are undergoing a procedure where more than 1,000 probes of ultrasound waves are directed to the brain’s reward center. The goal is to reset harmful thought patterns.  In many cases, addictive cravings immediately disappeared. Therapy and coping mechanisms are introduced as part of the treatment. About 75 percent of participants remained substance-free several months later.

Artificial Intelligence. In 2024, the biggest technological development under discussion was artificial intelligence. According to computer scientist and author, Ray Kurzweil, “Artificial intelligence will reach human levels by around 2029. Follow that out further to, say, 2045, we will have multiplied the intelligence, the human biological machine intelligence of our civilization a billion-fold.”

If this prediction is correct, our social disputes, policy making and scientific discoveries are about to meet head on and shape the path of civilization. May this holiday season give us time to reflect on how such a future could benefit all of humanity.

 

 

 

 

 

 

 

 

 

IMPROVING FINANCIAL LITERACY IS IMPORTANT

  

Financial literacy is defined as “The ability to understand and effectively use various financial skills, including personal financial management, budgeting and investing.” In recent years, personal finance has become more complex. It is now more important than ever to understand the economy and how to employ the newer credit and investment products offered to the public.

Financial decisions we make between the ages of 25 to 65 can help provide for a comfortable retirement. Moreover, the financial literacy we accumulate during our years of working becomes invaluable when we come to depend on Social Security, retirement accounts and savings to maintain a reasonable standard of living.

Unfortunately, many older adults were never exposed to financial literacy. They did not receive any education or even advice to develop a sound financial plan.  With no strategy in place to reduce debt and increase savings, they often end up with inadequate fixed incomes and are unable to enjoy their golden years. In addition, many seniors left financial decision-making to a now-deceased spouse. These individuals lack financial knowledge and are more vulnerable to monetary fraud.

Financial literacy for young adults presents a different problem. The economy has dealt them a bad hand with the COVID-19 recession, high interest rates, college loans, and expensive housing. A November survey found that 64 percent of those between the ages of 27 and 42 have delayed a major financial decision because of the economy.

When young people experience bleak economic conditions, learning about and applying sound financial decisions seems less important. Peer pressure encourages short term “fear of missing out.” Disposable incomes are squandered on trendy clothing, travel, and entertainment. Saving for the future is not on their radar.

When it comes to investing, younger adults are unaware of the proven slow and steady wisdom of Benjamin Graham’s classic book The Intelligent Investor. Instead, social media encourages get-rich-quick investments offered by products like cryptocurrency and questionable cult stocks like GameStop and AMC theaters.

Online investment platforms, which are often designed to mimic sports betting sites, attract younger adults. The New York Times has reported that on the investment app Robinhood, young people buy and sell the riskiest financial products. Their inexperience has often led to staggering losses.

One in-depth barometer of personal financial health is the 28 questions given annually to US adults, known as the P-Fin index. This survey, developed by the TIAA Institute and the Global Financial Literacy Excellence Center has long been an accurate test to determine financial knowledge.

Data from the 2024 index reveals that financial literacy in the US has stayed constant at around 50 percent for eight consecutive years. The index explores eight functional areas across finance, such as earnings, savings, insuring, and comprehending risk. The results show that Americans appear most comfortable with financial knowledge on borrowing, saving, and consuming and the least confident financial risk.

Among the results, financial literacy with women has consistently lagged that of men by 10 percent. In 2024, young adults correctly answered only 37 percent of the survey questions. Individuals with low levels of financial literacy are twice as likely to be “debt constrained” and “financially fragile.”

Annamarie Lusardi, Senior Fellow at the Stanford Institute for Economic Research helped to organize the data from the report. She explains, “Financial literacy is an essential skill in today’s society. The consistently low levels of financial literacy among the most vulnerable groups are troubling.  It is high time to change the conversation about money, starting with adding financial education in schools and colleges.”

How do we ensure that more Americans are taught sound financial practices at an early age? Every year, more research and published reports extol the importance of teaching financial literacy. But a recent survey completed by Intuit found that 81 percent of high school students continue to get financial knowledge only from their parents.

Advocates for financial literacy agree that at least one semester of a stand-alone finance course would address the problem. To be effective, the offering cannot be diluted by weaving it into math or economics courses. Teacher training is another hurdle to overcome. Public education must be willing to spend resources to develop training programs and effective curriculum materials.

Instilling financial responsibility at a young age sets students on the path of long-term financial wellness. The key components of financial literacy would include: 1) understanding how money is spent through budgeting, 2) learning how to use credit cards and other forms of credit responsibly, 3) studying interest rates and debt repayment strategies, and 4) receiving financial education on different investment options.

Teaching financial literacy would benefit our society as well as individuals. Informed financial choices would help reduce poverty and elderly dependence on Medicaid for long-term health care. For younger Americans, planning and achieving financial goals for retirement would replace casual decision making. Mental health would improve by reducing financial stress.

Older Americans also require strategies for financial literacy. The “Money Smart for Older Adults Program,” developed by the FDIC, is one of many good options. It raises awareness among older adults and their caregivers on how to prevent fraud, scams, and other elder financial exploitation. The curriculum encourages advanced planning and informed financial decision-making.

Improving financial literacy is time and resources well spent for individuals and for our society.  Unexpected monetary setbacks affect us all. Financial literacy can help us plan ahead and soften the blow.

 

 

 

VOYAGE TO THE DEEP BLUE SEA

 

“How inappropriate to call this planet Earth when it is clearly Ocean.” Arthur C. Clarke

 

Recently, I needed a diversion to escape the unrelenting noise of pundits trying to explain the election results and its aftermath. Half of the country is predicting the end of democracy and the other half praising the return to a better populist America. I decided to remain silent and let the future unfold.

The corner of my desk was piled high with books I had been reading during the campaign. These political and historical studies defining authoritarianism and defending democracy needed to be temporarily packed away. Following the Inauguration, when the former president returns to action with his wrecking ball there will be plenty of time for comment.

A friend suggested I take up the word puzzle, Wordle, as a healthy alternative. I discovered that, unlike my spouse and many others, my knowledge of five-letter words was limited. Also, my patience for word games was slim.

Instead, I turned to a book that the Financial Times has called one of the best science studies of 2023, The Blue Machine: How the Ocean Works by Helen Czerski. The author is a physicist and oceanographer at University College London. Her writing skills were sharpened as a science columnist for the Wall Street Journal.

Generally speaking, we humans spend most of our days surrounded by land. It is easy to forget that the ocean covers 71 percent of the Earth's surface and contains 96.5 percent of the planet's water. When we check the local weather or air quality, we are not thinking that the ocean regulates climate and is the planet’s greatest source of oxygen.

When we visit a zoo or marvel at the wildlife that surrounds us, we are not remembering that the ocean is home to a more diverse variety of life from microscopic organisms to the 100-foot-long blue whale. When we gaze at the night sky in wonderment, it is hard to believe that humans have explored only 5 percent of the ocean. Many of the species that live there have not been discovered.

The Blue Machine is an excellent book for those looking to escape the emotional impact of the election. It provides an invigorating ocean voyage while explaining how the vast expanses of saltwater operate as “the engine for the earth.”  The physics behind the ocean’s systems are more complex and interdependent than one could imagine.

In the book’s introduction Czerski sets us up for what we are about to read: “This isn’t merely a diverting tale about some salty water. This is the story that defines planet Earth.”

The author uses stories of history, culture, and sea animals to present her scientific points. She explains how water temperatures, salt water, gravity, and even the movement of the Earth’s tectonic plates all interact to keep our planet and its oceans intact. The book is replete with helpful diagrams and illustrations.

I agree with other reviewers that Czerski not only explains how things work, she does so with “poetic awe” that captures the wonder and beauty of the ocean. For example, we know that the ocean intercepts incoming energy from space and prevents it from escaping. Czerski’s eloquent explanation is: “The Earth is just a cascade of diversions, unable to stop the flood of energy but tapping into it as it trickles past. The ocean is an engine for converting sunlight into movement and life and complexity, before the universe reclaims the loan.” Who needs to dwell on Trump’s madcap cabinet choices with prose like that.

The book introduces the reader to the unseen, interlinked systems of currents, ocean walls, and underwater waterfalls that define the ocean. Gaining some basic understanding on what is going on in seven tenths of the planet that is not covered in land was an eye opening and humbling experience.

The last section of the book gives the reader some discouraging news to consider. It is not a topic the author wanted to dwell on. She laments, “I wish so much that I could have written an ocean book that ended with pure celebration…with nothing but a positive exciting future to look forward to.”  Czerski then lists all the events that threaten the ocean.

First, climate change is causing ocean temperatures to rise with alarming speed. Second, billions of pounds of plastics, micro-plastics and nano-plastics, smaller than the dust particles we breathe, are washing into the oceans. The plastics are affecting aquatic species in ways scientists are only now beginning to grasp. Third, excess carbon dioxide we send into the atmosphere is absorbed by seawater. This lowers the ocean’s Ph and impedes the growth of corals and shellfish. Fourth, excessive nutrient runoff, algae, and higher temperatures cause oxygen deprived patches of water. These “dead zones” now cover millions of square miles of ocean. Fifth, the “Atlantic Meridonal Overturning Current” is shifting to potentially catastrophic patterns due to the introduction of meltwater from Greenland’s glaciers and Arctic ice. Lastly, government subsidized and illegal fishing have caused an extreme decline of fish populations worldwide.

While it is tempting to ignore the ocean as “nearly infinite and incorruptible,” it is time we wake up and understand the realities of living on a planet with limits. What this book taught me is that we need to fully understand how the ocean works before we can save it.