2006.08.09 Fiscal Responsitivity

Written by David Green.

By JEFF PICKELL

I’ve never much been one for finance. I couldn’t finance my way out of a Swiss Miss-soaked paper bag.

Yet, I’ve always been fascinated by financial terms, like deductible, annuity, commodity and liquid asset, even though I have no idea what they mean.

I listen to Marketplace on National Public Radio with relish. I cheer when Kai Ryssdal announces an increase in the 10-year T-note. And when he reports that Federal Reserve Board chairman Ben Bernanke recommends lowering interest rates by a tenth of a percent, I pull my car over and honk the horn.

It’s kind of like an Englishman cheering alongside Americans at an NFL game. Sure, he mightn’t have the bloodiest clue what’s going on, but it’s fun to be part of the crowd.

That’s me. I’m a finance poseur, and my friends, who are business school graduates, call me out on it regularly.

“The time to buy Google stock was May 2002,” I said last year over an elegant dinner at Big Ten Burrito. “If we would’ve pooled our money and invested then, we’d all be millionaires.”

“But Jeff,” replied my New Jersey-ite friend Ben, “Google didn’t even have an IPO in 2002.”

“Oh, well, of course, but I mean, we should’ve pooled our money in anticipation of the IPO when it came out...the...next...year?” I bluffed convincingly.

“You have no idea what you’re talking about, do you?” said my South Carolingian friend Phil.

I shook my chicken and bean burrito at him accusingly. “What do you know!?” I shouted. “I can recite the opening soliloquy of Richard III! I listen to NPR!”

I swung the burrito towards Ben. “And you! You think just because you have a marketing job with Time-Warner you know stuff? Who wrote ‘Trout Fishing in America,’ huh? Who? Come on, tell me!”

Which reminds me. It’s fun to compare the post-college lives of my native Michigander friends and my non-native friends.

Well, I guess it’s not that fun. The Michiganders stayed. The non-natives left. But, with the exception of me, the non-natives took much more interesting jobs.

For instance, Pat, the Iowan, teaches disabled children at an inner city St. Louis elementary school. Oliver, from upstate New York, is midway through a two-year stint in China, teaching students English. Brian attends grad school at the University of Pennsylvania, studying nuke-yuh-lur cellophane astrology or something. He’s a smart cookie.

During baseball season, the aforementioned Phil puts his business degree to use selling hot dogs to Padres fans at PETCO park in San Diego. In the winter, he tows an advertising billboard around the city on a motorized scooter.

As for the Michiganders. Kyle works at a CVS in Taylor. Will, the most intelligent friend I have, is a professor’s assistant at Wayne State University. Joe works at a graveyard. Dolley––Dolley does nothing. He’s despicable.

What always surprises me is that, when we get together, people who don’t know us are always more interested in my and Phil’s jobs than any of the others.

“Really, you sell hot dogs?” attractive girls ask me.

“No. That’s Phil,” I reply. “I’m a reporter.”

“Really? You’re a reporter?” they ask, slightly disappointed.

“Oh, totally.”

“With who?”

“Uh...the Wall Street Journal.”

“Wow!” they say, suddenly lovestruck. “What do you report on?”

“Oh, you know. The usual. Leveraged stock option rebounds. Preferred shares. Rolling it over into a fixed-rate fiduciary market cap, ” I say. “I’m into all that stuff.”

“Huh?” she says.

“Did I tell you I sell hot dogs?” Phil interjects, grabbing them by their shoulders, leading them away.

“Wow, hot dogs?” they say.

“Securities and exchange commission! Ken Lay! The NASDAQ slid 10 points after news of a possible merger!” I shout after them.

I’m just kidding. I never lie about my job. In reality, people are interested in the life of a small weekly newspaper reporter. We, and hot dog vendors, are a rare breed—we have those off-the-beaten-path jobs many dream of working, but end up as bond salesmen and investment bankers instead.

I bet they already regret it. Twenty-five years from now, Ben will say to me, “Jeff, I wish I never would’ve made that million before I was 30. I wish I could’ve lived like you did.”

And I’ll tell him, “Ben, you should’ve followed my advice and taken out a fixed-rate mortgage on those Google shares. Just like I did.”

     - Aug. 9, 2006
  • Front.cross
    HUDSON RUNNER Jacob Morgan looks toward the top of the hill with dismay during the tough finish at Harrison Lake State Park. Fayette runner Jacob Garrow focuses on the summit, also, during the Eagle Invitational cross country run Saturday morning. Continuing rain and drizzle made the course even more challenging. Results of the race are in this week’s Observer.
  • Front.bear
    HOLDEN HUTCHISON gives a hug to a black bear cub—the product of a taxidermist’s skills—at the Michigan DNR’s Great Youth Jamboree. The event on Sunday marked the fourth year of the Jamboree. Additional photos are on page 12.
  • Front.crossing
    Crossing over—Jim Heiney was given a U.S. flag to carry by George Vereecke (behind Jim in the hat), turning him into the leader of the parade. Bridge Walk participants cross over Bean Creek while, in the background, members of the Morenci Legion Riders cross the main traffic bridge on East Street South. Additional photos appear on the back page of this week’s Observer.
  • Front.hose Testing
    HOSE safety—The FireCatt hose testing company from Troy put Morenci Fire Department hose to the test Monday morning when Mill Street was closed to traffic. The company also checks nozzles and ladders for wear in an effort to keep fire fighters safe while on calls.
  • Front.starting
    BIKE-A-THON—Children in Morenci’s Summer Recreation Program brought their bikes last Tuesday to participate in a bike-a-thon. Riders await the start of the event at the elementary school before being led on a course through town by organizer Leonie Leahy.
  • Front.train
    WRECKAGE—Morenci Fire Department member Taylor Schisler walks past the smoking wreckage of a semi-truck tractor on the north side of the Norfolk and Southern Railroad tracks on Ranger Highway. The truck trailer was on the south side of the tracks

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