2017

It's time for my annual review of the list of things I wanted to happen the prior 12 months, and give my list of things I want to occur in the next 12 months.  Here's the 2016 list, with comments in ALL CAPS:

-At least some progress, not regress, on medicinal marijuana legalization in Iowa.
NOPE TO DOPE AGAIN, BUT AT LEAST THERE WAS A BILL ON WHICH TO VOTE.

-Chris Christie versus Hillary Clinton for president, with ? winning.
HILLARY LOST THE PRESIDENCY, WHILE CHRISTIE LOST HIS POLITICAL CAREER.

-A higher stock market.
AFFIRMATIVE, BUT IT DIDN'T LOOK GOOD ON FEBRUARY 1ST.

-Just one actual, even very minor piece of legislation to make it slightly more difficult to buy a gun.
DESPITE MORE VIOLENCE, WE'VE NEVER BEEN FARTHER FROM THIS HAPPENING.

-The personal, financial, and political implosion of Donald Trump.
THE OPPOSITE HAPPENED THIS YEAR, BUT IT WILL EVENTUALLY HAPPEN.

-A way to charge devices without a wire.
NO, BUT WIRELESS HEADPHONE HAVE GONE MAINSTREAM.

-An à la carte option for cable and satellite TV channels.
THANKS TO PRESSURE FROM STREAMING SERVICES, SEEING SMALL PROGRESS.

-More time for eating right, less time for exercise.
ENDED UP DOING MORE OF BOTH, WHICH WAS A GOOD THING.

For 2017 I'd like to see:

Again:  At least some progress on medical marijuana in Iowa,

Some type of institutional or legal control over fake news / social media.

Related to the above, more critical thinkers, fewer idiots who believe everything they hear.

GPS technology used in major sporting events, e.g. to mark the ball in football games, and for the strike zone in baseball games.

More working from home by me.

The return of popular mainstream rock bands and rock music.

Implementation of the fiduciary rule, and the demise of commission-based financial advice.

The resignation or impeachment of an unqualified president -- no names, any one will do.

Cave-Dwelling Millennials

Five years ago, I posted a blog entry about how the main problem with kids, is parents.  My point was that there could be no bad kids unless they'd been exposed to bad parenting.  That came to mind again this week, but in a much, much different way.

This week the Wall Street Journal reported that almost 40% of young Americans were living with their parents, siblings or other relatives in 2015.  This is the largest percentage since 1940, and happened despite good job growth since the Great Recession of 2008.  The share of those ages 18-34 living with parents or other family members has actually been rising since 2005, when roughly 33% were living with family.

It should be noted that this is all according to an analysis of census data by real estate tracker Trulia, which did it to determine why there is less demand for housing than would be expected for the millennial generation.  They decided that rising rents in many cities and tough mortgage-lending standards were the culprit, making it difficult for those 'young Americans' to strike out on their own.

Pardon my French, but that reasoning in bullshit.  It makes no sense on its face, since the percentage should decline as the economy has so improved over the past five years.  Also, there's plenty of multi-generational family living even in lower cost-of-living areas.  And for the past few years, mortgage rates have never been lower, making it easier than ever to buy a house.

Want to know why so many millennials are living in their parents' basements?  Because they can.  Because parents have allowed it -- not just by unconditionally opening their doors to their underachieving kids for undetermined periods of time, but by not holding their children accountable for making better decisions when it mattered, during and after high school and college.

That's simply another form of bad parenting, in a much different context than what I wrote five years ago.  It's also a sign of how some millennials are lazy, er, I mean lack motivation, to the extent they'd rather give up independent living than have to be fully employed.

Parents should be more motivated about this, too.  As a financial planner, I can also tell you the parents pay a terrible cost in the form of not being able to retire.  Thousands of dollars are being spent on children for whom there should no longer be a cost.  I've seen some situations where parents are paying more now for their adult children than they were when those kids were under 18.  Ugh.

Calling Mr. Murrow

Edward R. Murrow was a broadcaster for CBS radio and (later) television.  He first gained fame for his radio broadcasts during World War II, which were followed by millions of listeners in the United States.   However, Murrow is perhaps more well-known for later producing a series of TV reports that helped expose and discredit then-Senator Joseph McCarthy for his reckless, anti-communist rhetoric.

Murrow is still considered one of the greatest journalists ever, noted for his honesty and integrity in delivering the news.  Although he died in 1965 at age 57, he left us a lot of great phrases from which to quote.

One of Murrow's most famous quotes is, "A nation of sheep will beget a government of wolves."  This takes on new meaning with the current 'fake news' epidemic on the internet -- but more on that another time.

Now take a look at the following quotes, all attributable to him, and ask yourself how much they fit now -- over 50 years later -- with our country's current state of affairs:

No one man can terrorize a whole nation unless we are all his accomplices.

Our major obligation is not to mistake slogans for solutions.

The obscure we see eventually. The completely obvious, it seems, takes longer.

We cannot defend freedom abroad by deserting it at home.

We must not confuse dissent with disloyalty. When the loyal opposition dies, I think the soul of America dies with it.

We will not walk in fear, one of another.

Good night, and good luck.