CSD Shot of the Day: Crusin’ on the Bayou with Boney and Big Homie

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The Uniroyal Tire (and My Other “Child”)

My grandfather retired from Uniroyal, so to take a shot in front of the company’s tire has meaning to me.

CornerstoneDad Snapshots

IMG_6856_Fotor_Stang Uniroyal

 

My grandfather retired from Uniroyal, so to take a shot in front of the company’s tire has meaning to me.

According to Wikipedia:

The tire was first created as a Ferris wheel for the 1964/1965 New York World’s Fair. It was designed by Shreve, Lamb & Harmon, the same architectural firm that designed theEmpire State Building. As the Uniroyal Giant Tire Ferris wheel, it carried over 2 million people, including prominent passengers such as Jacqueline KennedyTelly Savalas, and theShah of Iran.[3] The wheel contained 24 barrel-shaped gondolas, each carrying 4 people.[4] The wheel was capable of carrying up to 96 passengers and was driven by a 100 hp engine.[5]

When the fair ended in 1965, the tire was disassembled and shipped by rail to Detroit, where it was reassembled as a static display without its passenger gondolas outside…

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CSD Thought Of The Day: Having A Hard Time Getting Out Of Bed Every Day?

 

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Proverbs 24:30-34

English Standard Version (ESV)

30 I passed by the field of a sluggard,
by the vineyard of a man lacking sense,
31 and behold, it was all overgrown with thorns;
the ground was covered with nettles,
and its stone wall was broken down.
32 Then I saw and considered it;
I looked and received instruction.
33 A little sleep, a little slumber,
a little folding of the hands to rest,
34 and poverty will come upon you like a robber,
and want like an armed man.

Zimmerman Is Guilty? Not Guilty? The Ultimate Judge Will Judge Him and All of Us, So Are You A Good Person?

Photo taken at: Creation Museum
Photo taken at: Creation Museum

After hearing the verdict, there’s not much more to say as I said much on the podcast a year ago (click HERE to listen).

1 John 3:15-24, ESV

Everyone who hates his brother is a murderer, and you know that no murderer has eternal life abiding in him.

16 By this we know love, that he laid down his life for us, and we ought to lay down our lives for the brothers.

But if anyone has the world’s goods and sees his brother in need, yet closes his heart against him, how does God’s love abide in him? 18 Little children, let us not love in word or talk but in deed and in truth.

19 By this we shall know that we are of the truth and reassure our heart before him; 20 for whenever our heart condemns us, God is greater than our heart, and he knows everything. 21 Beloved, if our heart does not condemn us, we have confidence before God; 22 and whatever we ask we receive from him, because we keep his commandments and do what pleases him. 23 And this is his commandment, that we believe in the name of his Son Jesus Christ and love one another, just as he has commanded us. 24 Whoever keeps his commandments abides in God,and God in him. And by this we know that he abides in us, by the Spirit whom he has given us.

Psalm 139

O Lord, you have searched me and known me!

2 You know when I sit down and when I rise up;

you discern my thoughts from afar.

3 You search out my path and my lying down

and are acquainted with all my ways.

4 Even before a word is on my tongue,

behold, O Lord, you know it altogether.

5 You hem me in, behind and before,

and lay your hand upon me.

6 Such knowledge is too wonderful for me;

it is high; I cannot attain it.

7 Where shall I go from your Spirit?

Or where shall I flee from your presence?

8 If I ascend to heaven, you are there!

If I make my bed in Sheol, you are there!

9 If I take the wings of the morning

and dwell in the uttermost parts of the sea,

10 even there your hand shall lead me,

and your right hand shall hold me.

11 If I say, “Surely the darkness shall cover me,

and the light about me be night,”

12 even the darkness is not dark to you;

the night is bright as the day,

for darkness is as light with you.

13 For you formed my inward parts;

you knitted me together in my mother’s womb.

14 I praise you, for I am fearfully and wonderfully made.

Wonderful are your works;

my soul knows it very well.

15 My frame was not hidden from you,

when I was being made in secret,

intricately woven in the depths of the earth.

16 Your eyes saw my unformed substance;

in your book were written, every one of them,

the days that were formed for me,

when as yet there was none of them.

17 How precious to me are your thoughts, O God!

How vast is the sum of them!

18 If I would count them, they are more than the sand.

I awake, and I am still with you.

19 Oh that you would slay the wicked, O God!

O men of blood, depart from me!

20 They speak against you with malicious intent;

your enemies take your name in vain.

21 Do I not hate those who hate you, O Lord?

And do I not loathe those who rise up against you?

22 I hate them with complete hatred;

I count them my enemies.

23 Search me, O God, and know my heart!

Try me and know my thoughts!

24 And see if there be any grievous way in me,

and lead me in the way everlasting!

CSD Dinner Table Topic of the Day: College, Student Loans and 21st Century Sharecropping

Definition of SHARECROPPER

: a tenant farmer especially in the southern United States who is provided with credit for seed, tools, living quarters, and food, who works the land, and who receives an agreed share of the value of the crop minus charges
Source: http://www.merriam-webster.com/dictionary/sharecropper
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When I graduated high school, I remember people who didn’t go to college saying, “I know people with college degrees that make less than I do and I didn’t go to college!”

Now, I’ll be one of the folks telling high school grads, “I went to college and got a degree and I make more money than average, but I’m still poorer than most people who didn’t go to college!”

“Under this system, black families would rent small plots of land, or shares, to work themselves; in return, they would give a portion of their crop to the landowner at the end of the year.

The sharecropping system also locked much of the South into a reliance on cotton, just at the time when the price for cotton was falling. In addition, while sharecropping gave African-Americans autonomy in their daily work and social lives, and freed them from the gang-labor system that had dominated during the slavery era, it often resulted in sharecroppers owing more to the landowner (for the use of tools and other supplies, for example) than they were able to repay. Some blacks managed to acquire enough money to move from sharecropping to renting or owning land by the end of the 1860s, but many more went into debt or were forced by poverty or the threat of violence to sign unfair and exploitative sharecropping or labor contracts that left them little hope of improving their situation.”

Source: http://www.history.com/topics/sharecropping

At the current rate, over the next few decades, we will likely return back to a time when only the affluent can afford a college education and those who previously had earned a college degree, will not be able to afford to send their own children to school and will be paying student loan payments out of their social-security checks.

“Forget hitting the books son, better go dribble that basketball or throw that football to get a scholarship!”

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Oh, and before someone comments, “Well, if you can’t afford to pay for a college degree, then you shouldn’t get a loan to pay for one!”

As a Dave Ramsey fan, I agree.

So surely you don’t have any credit cards, a car note or a mortgage right? Because if you can’t pay cash for a house, then why should you feel entitled to get a loan to buy a home. After all, the amount many owe in student loan debt equals what they would pay for a home.

Also, I’ll agree more with that statement when our student loan debt is seen as “too big to fail” like the banks that loaned the money, and maybe it can just be wiped off the books.

…just like the folks that walked away from their houses when they bought more than they should have when those loans were flowing like water.

Quite honestly, college is still the best option for the young and old. However, my gripe is with the “wisdom” that getting the education is a guarantee to a great paying job, home ownership, and “you’ll make much more money than your peers that didn’t go to college over your lifetime.”

Well, none of those are absolute truths.

But you better be absolutely sure what you want to major in, how much does it pay in the end and know exactly what you can pay off. Because while the banks that loaned you the money are too big to fail, you aren’t…and you can’t file bankruptcy on student loan debt like they can!

Check out this article from blog.metrotrends.org

With national student loan debt of roughly $1 trillion, it’s no surprise that many Americans are worried about their student loans.

Student loan debt has surpassed credit card debt and is second only to mortgage debt among those age 29-37. This ballooning student loan debt is a contributor to the “lost generation” of 20- and 30-somethings, whose average wealth is lower than the average wealth of those in their 20s and 30s three decades ago.

We published a new brief on school-related debt, using the FINRA Investor Educational Foundation’s 2012 National Financial Capability Survey. One in five adults age 20 and older has school-related debt and concern about the ability to repay is pervasive. The majority of student debt holders (57 percent) is worried that they may be unable to repay that debt.

If Congress doesn’t reach a compromise and the rate of subsidized student loans doubles, student loan debt and the increased payment burden will increase stress around repayment.

Beyond the short-term burden of repaying loan balances and interest, this early debt can have ripple effects and hinder borrowers’ ability to get on a secure wealth-building path. It can delay building a rainy day fund, homeownership, and saving for retirement.

Some of our findings may not be shocking to those who write monthly checks to Sallie Mae, yet they illustrate the magnitude and pervasiveness of the issue:

  • Student loan debt affects people at all levels of educational attainment. Nine percent of those with just high school diplomas have school-related debt, possibly incurred for non-degree training or to fund a child’s education. Twenty-five percent of those with some college education but no degree have student loans.
  • Student loan debt disproportionately affects African Americans and Hispanics. African Americans and Hispanics are twice as likely to have student loan debt as compared with whites. The large racial wealth gap and lower wealth among families of color likely lead these students to more often turn to student loans to finance their education.
  • Student loan debt affects people at nearly all income levels. Twenty percent of those in households with annual incomes under $25,000 have student loans—that’s only 2 percent more than those earning $100,000 and up.
  • Concern about repaying student loan debt also cuts across economic and demographic groups (see figure below). Nearly three-fourths of those with incomes less than $25,000 are concerned about their ability to repay—and so is a still-substantial 36 percent of those earning above $100,000.

College is a good investment for those able to complete the degree, but roughly half of people do not. Out of the starting gate, students should consider the cost and completion rate at the institution they plan to attend, earnings in their field of study, and type of student loan (public or private). Helping young people take advantage of student loans to get their degrees—but avoid burying themselves in debt—is a step in the right direction toward economic stability and wealth accumulation.

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Illustration by Daniel Wolfe / The Urban Institute.