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A national, online university is impractical.

In Economy, Education, finances, history, National News, Opinion, Technology, Uncategorized on March 9, 2015 at 12:59 pm

DIH LOGOA recent CNN.com article by Kevin Carey proposed the idea that America could bring to reality George Washington’s dream of a national university by utilizing the Internet-based programs of existing institutions. Colleges and universities already receive millions every year in federal money, so some of that could be allocated towards low-tuition, online education. Good idea in concept, but not practical.

Although Internet-based programs have been in place for some time at universities around the country, many educators still believe that online education lacks the face-to-face contact necessary for students to connect with the subtleties of concepts and ideas. Questions cannot be answered immediately and written communication skills become more vital since intent and personality don’t always come across the same way virtually as in person.

Obviously, online options are not well-suited for every course of study, particularly where hands-on work is vital, such as the physical sciences or engineering. The ITDL article notes that videos would need to be produced, substantially increasing costs, while still lacking in the ability for students to get direct, immediate feedback. Flaws aside for a moment, online options have some positive aspects as well.

booksA few years ago, one article in the International Journal of Instructional Technology and Distance Learning noted that some educators employ online discussion boards to compensate for absent face time. One professor referenced in the article also suggested that, “a virtual environment reduces gender differences,” creating a more equal educational setting for men and women.

A national university could potentially be cobbled together from existing web-based programs and at a considerable savings. With online education there are fewer administrative issues, no buildings to construct and no libraries to collect.

But if the intent of such a program would be a stepping stone towards achieving President Obama’s promises of free community college education, further examination is probably needed. On the surface, a virtually-based, national community college program looks like a great solution to a daunting issue. Digging down, however, the financial and educational factors that sparked the idea in the first place would also be its greatest hindrance.

In order for such a program to be of value, it would need to be within the reach of the poorest of American citizens. Computers, for all they seem readily available by the upper-middle class, are still fiscally out of reach for those of lower income.

A computer at the local library is great for submitting job resumes or checking Facebook, but long-term study on public computers is impractical and insecure. Add to that most public computers are painfully slow and out-of-date, with restricted web search capability, and they seem like a thoroughly impossible option.

Additionally, free (or nearly free) dial-up Internet access would be wholly insufficient for higher learning programs so students would need to use high-speed broadband service. Once again, pricing and accessibility become the major issues. It simply costs too much for most lower-income families to afford high-speed Internet service and, in rural communities, availability remains shockingly limited.

Finally, there is the issue of prerequisite education. Besides whatever background might be needed for enrollment and future success in any particular program, a lack of computer skills can also hamper online class work.

The average computer user has a parenthetical set of skills: they can surf the web (but tend to stay on websites they know how to navigate), use a simple word processor, send a basic email (without attachments), print something and turn the machine off and on. That’s pretty much it.

Some of college coursework would require the student to possess advanced computer skills related to online research, clerical software manipulation, media production and so on. That might be a problem for someone coming from a background of limited resources or a family where technology didn’t play a major role.

None of this is impossible, but the limits on infrastructure, funding and practicality might be too great a challenge to reach those who would most benefit. An online program alone is just not the answer to America’s higher education deficiencies. Sorry George, no national university just yet. But, hopefully, there are some smart people out there trying to make something like it a reality in the near future.

Gery L. Deer is an independent columnist and business writer. Deer In Headlines is distributed by GLD Enterprises Communications. More at gerydeer.com.

Duct cleaning reduces indoor air pollution

In Economy, Education, Health, Home Improvement, Science, Technology, Uncategorized on February 25, 2015 at 12:51 pm

According to estimates by the U.S. Environmental Protection Agency, indoor air may be as much as 70-percent more polluted than outside. Much of that contamination can be attributed to bacteria and mold growing inside residential and commercial air handling systems.

Allergies, asthma, and other illnesses may be aggravated by microbe-laden air circulated through a building’s duct system. Larry Phillips, owner of Ductz of Southwest Miami Valley, is a professional residential and commercial duct cleaning specialist. A 30-year veteran of the health care industry, Phillips chose a second career that offered the opportunity to continue improving the well being of the community.

Air duct before cleaning.

Air duct before cleaning.

“A thorough cleaning and disinfecting of the air ducts can minimize pollution-causing agents lurking in the air system,” Phillips said. “Cleaning the air system at a seasonal change, such as when switching over from heat to air conditioning, is ideal.”

Phillips also cautions consumers to make sure the duct cleaning service they hire is well qualified. “Duct cleaning technicians should be well trained and follow the guidelines of the National Air Duct Cleaning Association (NADCA), the professional organization that sets the standard for air system cleaning,” he said.

“It should take 4 to 5 hours to clean an average size home’s duct system,” said Phillips. “If done properly, the cleaning should not have to be done annually, but instead only every few years.” Phillips suggests that, in addition to a high efficiency filtration system, air duct sanitization and ultraviolet germicidal disinfection equipment can maintain the air quality after cleaning.

Besides older, existing structures, it’s also a good idea to clean the air systems of new construction before the space is occupied. In new buildings, duct work, filters and vents can be layered with dirt, sawdust, and drywall dust from the construction process.

Air duct after cleaning.

Air duct after cleaning.

Home owners and operators of commercial laundry facilities should also pay close attention to the condition of clothes dryer vents. Lint that escapes the trap inside the dryer accumulates inside the vent tube creating a fire hazard. According to statistics provided by Ductz, an estimated 15,500 fires, 10 deaths and 310 injuries are associated with the lint in clothes dryers annually.

“Cleaning the ducts and dryer vents is also good for the environment,” Phillips noted. “Regular maintenance of the air circulation system improves the efficiency of heating and air equipment which helps to save energy, and reduce operating costs.” For more information contact Larry Phillips at Ductz of Southwest Miami Valley by calling (937) 399-8500.

Greene County Real Estate Taxes Due

In Economy, Local News, Uncategorized on February 2, 2015 at 2:30 pm

gcchXenia, OH — Greene County Treasurer, Dick Gould, reminds residents that real estate tax statements for the first half of 2014 have now been mailed and are due February 20, 2015. Over 41,000 bills have been sent. “Bills were mailed a bit later than in past years,” stated Gould.  “We changed our print vendor and had to work through the initial data mapping, causing the delay.  However, this will not be an issue in the future.”  The change in vendors will save the county approximately 10-percent in processing costs.

There are several ways for residents to pay their tax bills.  “We have tried to make it as convenient as possible for residents of Greene County to pay their bills,” Gould stated.  “People can pay online at http://www.co.greene.oh.us/, by mail, in-person, or via the locked drop box located outside the office.”

“The curbside drop box lets anyone with checks avoid lines inside,” Gould shared.  “People don’t even have to leave their cars to use the curbside drop box and they can be assured that their payment will be secure and processed promptly.”

Residents should note that for the first time in years, Fifth Third Bank will not be accepting payments, due to their concern of liability for the undeposited amounts.

The Treasurer’s Office hours are 7:30 a.m. – 4:30 p.m. Monday – Friday.  There will be extended hours from 8:00 a.m. until noon on Saturday, February 14, and from 7:30 a.m. to 6:00 p.m. on February 18, 19, and 20.  For more information contact the Greene County Treasurer’s Office at 937-562-5017.

E-commerce that supports local business

In Business, Economy, finances, Holiday, Local News, National News, Technology, Uncategorized on November 26, 2014 at 4:25 pm
GLD Enterprises Commercial Writing's "e-commerce kiosk," at Amazon.com

GLD Enterprises Commercial Writing’s “e-commerce kiosk,” at Amazon.com

JAMESTOWN, OH – Shoppers are being encouraged to buy from small, local retailers this holiday season, but did you know there was a way to support local business and still buy from Amazon.com? They’re called “Amazon aStores,” and they allow local business to set up a virtual storefront through Amazon.com and offer products of their own choosing.

Retailers can set up what is essentially a virtual kiosk inserted within the company website. Each item is selected individually and can be categorized for easy indexing. Shoppers can then visit the main website for the company, providing the owner with valuable marketing information about how often the site is frequented, and then click on the business’s amazon store to shop further.

The hosting business is then paid an advertising fee by Amazon for each product sold through its store. Such a store doesn’t generate a great deal of revenue, but it can provide some helpful cash flow, if people know to use it.

Gery L. Deer, owner and creative director fro GLD Enterprises of Jamestown, Ohio has three such Amazon stores in operation on different websites. “We do a great deal of work with local authors, and the Amazon store allowed us a way to market the electronic versions of books, as well as other specialized items, often unavailable from local retailers.”

Deer says this kind of pre-packaged e-commerce is a good way for small businesses to have an online sales presence, even if the company is not necessarily a retailer. “Our business is primarily a business-to-business marketing and copywriting agency,” Deer says. “As a service business, we don’t have retail sales, but the products we provide through our online store can benefit the customer by offering another way to both save money on shopping and support local business, all at the same time.” For more information visit Amazon.com.

Here are links to the Amazon stores managed by GLD Enterprises and its partner companies:

GLD Enterprises Commercial Writing Amazon Store: Features locally-authored books and related products. Some product sales benefits the Western Ohio Writers Association.

GLD Enterprises & Production: Features a wide variety of books, electronics, specialty items and locally-authored material.

Deer Computer Consulting, Ltd.: Books, software, electronics, and more “computer” related products.

 

 

E-commerce shoppers beware price steering

In Economy, finances, Holiday, Media, National News, Technology, Uncategorized on November 17, 2014 at 2:28 pm

DIH LOGORecent surveys suggest that nearly 60 percent of shoppers will do their holiday buying online this year. That’s probably not too surprising to most people.  But did you also know that many e-commerce websites actually adjust pricing based on your personal information to get the most money they can from each shopper? It’s called “price steering,” and it’s perfectly legal. Here’s how it works.

Let’s say Bob goes online to buy a hammer using his smart phone. The e-commerce hardware site offers the item for $10 with a $2 shipping charge. From his desktop computer at work, John looking up the very same hammer on the same website, but his price is showing at $15 with a $5 shipping charge. The cost variation is based on data collected from each buyer’s Internet device.

Whenever you visit a website it leaves a “fingerprint,” on your computer, smart phone or tablet in the form of cookies, browsing history, and so on. For our example, let’s say Bob and John live in different parts of the country, work in different occupations, and have individual buying habits, so their computers, smart phones and other devices portray a very different “electronic personality,” or “E.P.”

The E.P. information is used to “steer” each buyer to the same product but with different pricing based on the collected data. That level of electronic tracking might sound a bit distressing, but it’s really been going on for quite some time.

Deer Computer Consulting, Ltd. recommends checking e-commerce prices from different devices.

Deer Computer Consulting, Ltd. recommends checking e-commerce prices from different devices.

Internet users receive a plethora of personalized information every day. As they go about their day-to-day activities, complex programming is used to sift through online profile data and previous online activity, constantly processing it through something called a “personalization algorithm.” If you’ve ever wondered why Amazon knows that you like country music or white tigers, and constantly offers you products related to those things, that’s how they do it.

A similar process is used at grocery and other retail stores, using a combination of product placement and special pricing. I often refer to it as “the milk effect,” because dairy products, meats and other essentials are positioned in the back of the store and shoppers must pass a myriad of floor and end cap displays to get to them.

This “steers” the shopper past all of the sale items, incidentals, and virtually everything else, as they make their way to the household staples. Unlike price steering online, however, this practice is fairly transparent and has few components to allow unique pricing adjustments for each buyer.

User data collection and manipulation may provide many people with better pricing but it can also be used to force others to pay more. A recent study by researchers at Northeastern University brought into question the level of transparency offered by popular e-commerce sites and price steering practices.

Price steering actually hap­pens every day and is well-advertised. In a standard retail setting, for example, senior citizens might get a dis­count at the movies or a col­lege stu­dent pays less for books. And, according to the university’s website, authors of the study note that there is nothing inherently sinister in the processes.

But before you click “buy now,” it’s up to you to make sure you’re getting the best possible price online. Here are a few simple tips to help.

First, clear the browsing history on your device and turn off tracking cookies. Websites can’t access your history if there’s nothing there to see. Be aware, however, that some websites require that cookies be allowed or the site will not work properly.

Next, view the website on different devices. Some of the data collected can tell retailers that you are using an expensive smart phone and may be more inclined to pay more at checkout.

If you’re a regular user of a particular retailer’s website, log out and log in as a guest through another device. Sometimes guests are provided with lower pricing to entice them to buy.

Finally, scroll around, making sure to check the very bottom of the web page. Lower-priced products may be displayed elsewhere besides the top of the page. Do your homework, get the best price and enjoy this holiday shopping season.

(TUNE INTO WDTN-TV2’S LIVING DAYTON AT NOON ON FRIDAY NOVEMBER 28TH FOR A SPECIAL SEGMENT ON THIS TOPIC PRESENTED BY DEER IN HEADLINES AUTHOR GERY L. DEER.)

Gery L. Deer is an independent columnist and business writer based in Jamestown. More at gerydeer.com.

 

 

 

Local festivals must evolve to continue.

In Charities, Economy, Entertainment, Holiday, Local News, Media, Opinion on September 22, 2014 at 12:05 pm

DIH LOGOVirtually every community festival I’ve been involved with around Ohio this season has reported steadily decreasing attendance. Some of them have run for more than a half-century, others only a few years, but regardless of their endurance, the people just aren’t coming like they used to. Could it be time to mothball the town festival and pool resources into larger, joint events like county fairs?

Over the course of the last couple of decades I have participated annually in more than a dozen different festivals and similar community events. Since 2002, I’ve produced the Western Arts Showcase performances at the Annie Oakley Festival in Greenville, Ohio, an event that’s been running for more than 50 years. Sadly, I’ve watched the attendance at these events dwindle year after year to the point where even the vendors aren’t coming.

I hate the idea of our local festivals shutting down, but it’s not possible to perpetuate an event on good intentions. It must evolve with the times. With that in mind, and for those interested in trying to breathe new life into a long-running festival, here are a few ideas to consider.

First, whether you want to think of it this way or not, a town festival is like any other product you’re trying to sell to the public, from toothpaste to breakfast cereal. Consumers have options and getting them to choose your event over another takes effort and money.

Poor marketing on the part of festival organizers is common and usually the result of inadequate funding. It’s simply not enough to pin up cookie-cutter fliers that look the same year after year. Like any business venture, it takes real advertising and legwork to get the word out.

Could deteriorating attendance kill local festivals?

Could deteriorating attendance kill local festivals?

Community organizers should consider another question too, “What is the purpose of the festival?” If the reason is just to have one, then maybe that’s part of the problem. Every event should have an end goal, whether it’s charitable fundraising or increased awareness of what the community has to offer.

Successful events tend to seek out corporate sponsorships; not from local merchants but larger resources. For example, instead of going to the local Pepsi retailer, contact Pepsi’s corporate office and ask to speak to regional marketing reps or district managers. Tell them what you need and they can often direct you to the right department.

Those advanced funds should go toward better marketing and, most importantly, high-end feature entertainment, the real draw to any community event. Organizers should strongly resist the trend toward using the local bluegrass garage band.  Grants are also a potential funding option, but carry oversight burdens and restrictions on festival content.

Financially, local residents don’t provide enough of a revenue base to sustain an event year after year. To keep people coming in, you have to reach outside the area to draw attendees to your event with something to set it apart from all of the others – feature entertainment, unique exhibits, something. Let’s face the facts, there’s no difference between the funnel cakes at your event and those at any other.

Finally, one organizer I spoke to recently suggested that the major roadblock to growing his local festival was the old guard’s resistance to fresh ideas, complicated by an unbreakable, well-established good old boy system – a common problem in small communities. Organization committees are generally manned by those who show up or others who need to feel powerful. If that’s the case, and the argument given against change is often something like, “We’ve done it this way for 20 years and …” and nothing has improved! It’s probably time for new blood.

If no one is willing to change, it may be hard to maintain an event and people will just stop coming. If you belong to an organization that’s trying to decide whether to keep an event running, and few are open to change, ask this simple question. After the bills are paid this year, is there enough money left over from the event to cover start up costs on next year’s festival? If the answer is no, it may be time to hang it up. Remember, nostalgia won’t pay the bills.
The Jamestown Comet.com Editor / Publisher Gery L. Deer is an independent columnist and business writer based in Jamestown, Ohio. More at gerydeer.com

When did being nerdy become cool?

In Children and Family, Economy, Education, Opinion, sociology, Technology, Uncategorized on August 25, 2014 at 12:14 pm

DIH LOGOAm I to understand that, largely because of a television situation comedy, it is now cool to be awkward, socially inept, and very smart, all while being considered – dare I use the word – “nerdy?” When did this happen? In my day, we nerds were cast out from all the best tables in the school lunchroom or forced to get bad grades to avoid being picked on because we were smart  – that never worked, by the way. It’s just not fair that today’s geeks get a pass! But, it’s about time!

Yes, I was a nerd, of the ultimate type, though I never made much of an effort to show my smarts on my report card; the dreaded “permanent record.” Best part is, I’m still pretty nerdy, if not more so, except now, people think it’s much cooler. Ok, maybe not so much when you’re nearly 50 years old, but still, it’s better than the reverse.

It is highly unlikely, however, that the power struggle of lunchroom hierarchy has changed too much. Although I have learned that there are now “smart kid cliques,” like a “herd of nerd.” These gaggles of bespectacled hackers, techies, science geeks and math whizzes won’t let the cool kids – jocks, cheerleaders, etc. – sit at their tables. Oh my, how the lunch tables have turned! So what, exactly happened to cause this mirror universe effect (there’s a Star Trek reference for anyone who’s paying attention)?

GLD Enterprises Commercial Writing managing copywriter Gery L. Deer at his Jamestown office.

GLD Enterprises Commercial Writing managing copywriter Gery L. Deer at his Jamestown office. Nerd is in!

Were our Heisenberg compensators out of calibration? Was there a paradoxical overlap in the delicate fabric of space and time? Perhaps J.J. Abrams decided to re-imagine nerddom in his own image? However interesting these explanations may sound, the popularity shift albeit a smaller one than you might think has more to do with money than anything else, on several levels.

In the 1990s, the nerds of the 80s were rolling in the cash as the tech boom swept across the nation and rapidly spread worldwide. Billions of dollars were going into research and development as the Internet expanded and commerce took notice.

Suddenly, everyone was a hacker or web developer. Countless tech startups swamped Silicon Valley and the rest of the country as everybody with a modem tried to cash in on the boom.  In short, the nerds of yesterday are the successful business tycoons of today, at least some of the time.

Next, it would be hard to talk about this subject without at least a hat-tip to the TV nerds of CBS’s hit comedy, “The Big Bang Theory.” The quirky, discomfited antics of Sheldon, Leonard, Raj and Howard have become a sensation. The show seems to be broadcast every hour of the evening, primetime or in syndication. Watching people who seem far more awkward and unsure than ourselves has always been a pastime, but this is somehow even more engaging.

Most of us who have worked in the engineering or technical fields knew or knows someone like each of these guys, but with nowhere near the personality or likability of the four fictional personas. Speaking of real life, I’m fortunate that I don’t carry a grudge for all the harassment I endured growing up.

If anything, it’s been a source of great resolve and I’ve have written many times on the subjects of bullying, mean-spirited teasing and the like. Unfortunately, there are some of my nerd kin out there who just can’t let it go or, if they’re still in school, carry a sharp chip on their shoulders because they aren’t part even of the herd of nerd that as claimed a spot at one of the cool tables.

There is every possibility that the reason someone doesn’t socially advance has as much to do with the person than the environment. A bad attitude goes both ways. No one will be popular if he or she is always pointing out the mistakes of others, belittling someone’s intelligence or carries that chip on the shoulder that keeps others at bay.

I learned to embrace my inner (and outer) geek and like whom I’ve become. In the end, it’s far better to be smart and socially functional, than sit alone in the cafeteria.

 

Gery L. Deer is an independent columnist and contributor to WDTN-TV2’s program, Living Dayton. More at gerydeer.com.

All In One from CMG Financial pays off mortage faster, builds equity

In Business, Economy, finances, Local News, Uncategorized on July 7, 2014 at 12:43 pm

By Gery L. Deer

Business Editor

With interest rates at historic lows, American homeowners are constantly on the lookout for the best way to pay off a mortgage loan at the lowest cost and in the shortest time. CMG Financial has a loan solution, just made available in Ohio, specifically designed to help borrowers put idle money to work reducing mortgage debt.

CMG Financial was established in 1993 as a privately held, mortgage-banking firm based in San Ramon, California. The company is widely known for responsible lending practices, industry and consumer advocacy, operational efficiency and market innovation.  Among those innovations is what the company refers to as the All in One mortgage.

Joseph P. Beach is the Ohio Operations manager at the firm’s Dayton area office, opened in 2011, and a thirteen-year veteran of the mortgage industry. “The All in One mortgage has been offered in California since 2005, but is now available in Ohio and seven other Midwest states exclusively from CMG,” Beach says. “It’s designed to benefit the disciplined borrower who is interested in paying off their mortgage and growing the equity funds available as fast as possible.

According to CMG Financial, this type of mortgage option has been available in England, Canada and Australia, where interest regulations are different. Essentially, the All in One mortgage, “Puts lazy money to work.” That is, money that would normally just sit in a checking account doing nothing is used to lower the balance of the mortgage loan until the cash is needed elsewhere.  The idea is to lower the total interest expense over the term of the loan by paying down the balance right from the beginning using the idle cash in checking, certificates of deposit and other low interest-earning accounts.

Beach notes that there are some specific advantages to the All in One mortgage, unavailable under other products. “A borrower can significantly cut the total interest expense over the life of the loan, pay off your mortgage in as little as seven years with no change to your spending habits, and still be able to access home equity 24 hours a day, seven days a week, without refinancing.

Stein_CMG-CapturePopular economist and author Ben Stein has personally endorsed the CMG loan stating in a promotional video now available on YouTube, “I think it’s the greatest invention in personal finance in my lifetime.”

Of course, the All in One is not for everyone and certainly not a product for those in an upside down or problematic financial situation. Beach’s description of a “disciplined borrower” is very accurate. To qualify, borrowers require a credit score exceeding 700, are active savers and use funds that would normally be sitting in a checking account earning minimal interest.

For more information, contact Joe Beach at CMG Financial’s Dayton office by calling, (937) 937-723-8095 or email jbeach@cmgfi.com. The All in One was patent protected in 2009 and is a trademarked mortgage product of CMG Financial. Catch Joe Beach on WDTN-TV2’s “Living Dayton” program, 12-Noon, Thursday July 10.

Too much rides on a credit score

In Business, Economy, Education, Jobs, National News, Opinion, Uncategorized on June 16, 2014 at 11:33 am

DIH LOGOFor all the important numbers in the life of the average American, the credit score seems to wield the most power. It’s hard to imagine how three little digits could determine how an individual will live his or her life, regardless of the circumstances that created it and with the average person having virtually no understanding of what it is or how it’s calculated.

Credit scores determine how much a consumer will have to pay for credit (as interest rates), insurance, and other necessities. For many years, the credit score was a value hidden from the consumer because Fair Isaac and Company, the firm which created the process, decided it would just be too confusing to the general public. (Of course, that’s the usual excuse offered up by big business and government agencies trying to dupe the general public.)

That’s little comfort, however, to those who have been held hostage by the credit reporting companies for decades. Almost since inception, credit data has been full of inaccuracies and misinformation, a problem to which consumers have had little (practical) recourse other than the slow, usually pointless, process required to amend a report.

As of 2012, the Consumer Financial Protection Bureau was charged with the oversight of personal credit rating companies. With countless rule changes over the years, the Fair Credit Reporting Act finally forced at least some restrictions on the credit rating companies. The FCRA is the legislation that required companies like TransUnion, Experian and Equifax to provide free credit report, limit outside access to personal credit files, initiate identity theft protections and other consumer defense measures. Click here for a downloadable version of the Fair Credit Reporting Act is available.

creditoneRegardless of the current legislation, however, credit monitoring and reporting services still have entirely too much power and control over the general lives of consumers. A credit report (and score) whether accurate or not, can limit access to vital, day-to-day needs like transportation and employment.

Considering how much inaccuracy can exist or the irrelevancy of the information to the situation, it’s bewildering how it is legal for employers to reject applicants based on a credit score. In another example, how is it permitted that credit score can determine whether someone should be provided with car insurance, particularly when coverage is mandated by the government?

Whatever more ignorant people choose to believe a low credit score doesn’t always mean a person is unwilling to pay their bills or is inept at handling money. Sometimes circumstances change, as with the predatory lending practices that contributed to the housing market crash of 2008.

Likewise, although there is a higher risk in lending to people with a sorted credit history, almost no one takes into account how the score got so tarnished. On the heels of the worst recession in U.S. history, the credit rating process seems almost backwards to the average consumer.

If you can afford a higher rate and larger payment, you get a lower one, and vice versa. A person may be in desperate need of a car or renters insurance but, because of a lower credit score, they are charged significantly higher rates and payments. Wouldn’t it make more sense to offer those people lower rates and payments, making it more likely they can pay on time and help shore up the economy in the process?

The consumer should always keep in mind that the credit reporting organizations are private sector businesses, not government agencies. They are not affiliated with the Federal Trade Commission in any way nor any other government office. Credit scores are big business for those companies that calculate and report them.

In the first quarter of 2014, TransUnion, one of the three largest firms, reported earnings just over $303 million. That’s just for one credit reporting company over three months! So, with billions of dollars in revenue at stake, there is little to no motivation for limiting the power of these companies. It’s a sure bet that lobbyists for the credit reporting companies are well-entrenched in Washington, greasing all of the appropriate palms to make sure that the “have nots” never catch up to the 1-percent.

 

The Jamestown Comet.com editor / publisher Gery L. Deer is an independent columnist and business contributor to WDTN-TV2’s Living Dayton program. More at http://www.gerydeer.com.

 

 

 

India vs. China: Economic growth and national security

In Economy, history, National News, Opinion, sociology, Uncategorized on June 9, 2014 at 9:47 pm

DIH LOGOOn June 4, 1989, after three weeks of civil rights protests by nearly a million Chinese, many of them students, Chinese troops stormed a packed square in Beijing, killing and arresting thousands. The Tiananmen Square Massacre shocked the world and confirmed the belief, not that there was any doubt, that China’s political system is completely incompatible with that of the United States and pretty much any other democratic nation.

A quarter of a century later, it’s still largely incomprehensible why America is so tied to a country with no decency with regard to human rights. It’s about two things that shouldn’t surprise anyone, money and political power. There’s a little fear thrown into the mix as well associated with China’s massive military might and a government with no reservations about using it.

Labor costs are incredibly also low in China, with the average factory worker earning just one-tenth of what their American counterparts bring home, according to the Bureau of Labor Statistics. Cheap labor is an attractive prospect to American companies looking to expand production with fewer tax and employment expenses. It seems there is no end to U.S. manufacturers relocating in China; producing cheaper goods to be shipped back America and sold at a premium profit.

Contrary to popular belief, however, according to the Council on Foreign Relations, only 15-percent of U.S. imports come from China. That comes out to something like $29 billion of a $1 trillion monthly output. There are more than 1.3 billion people in China, many of whom, like their American counterparts, want, more than ever, the latest technology, fashions, entertainment and so on. Although it is generally exaggerated, a definite trade deficit exists between the two nations, which is unlikely to change anytime soon.

China or India? Which makes more sense for the US?

China or India? Which makes more sense for the US?

It’s entirely possible the United States should be looking a little further southwest for political and economic growth in Asia – India. After all, which would seem a much more stable and amiable political and economic ally? With more than 1.2 billion people living in 29 states, India is the world’s second-largest country and second-largest democracy, English speaking and primed for growth.

If India is a more lucrative and stable prospect, what’s holding America back from a greater fueling of the fire of partnership, economically and socially? Unfortunately, recent years have seen the U.S./India relationship strained over trade and intellectual property disputes. Plus, the Indian economy has had some rocky spots recently.

In 2013, the average median income per capita in India was around $1,200 (Compared to China at $2,100). Add to that, India’s economy has fallen off nearly 5-percent with 8-percent inflation and the country’s fiscal health is a major barrier. However, the election of a new prime minister, Narendra Modi has encouraged investors and the economy has reflected that confidence.

According to CNN Money, “The prospect of a government led by Modi has boosted Indian stocks by 15 percent so far this year. The rupee has responded too, gaining six percent against the dollar after a dismal performance in 2013.”

There are other more politically charged issues slowing down a more aggressive relationship with India, but most U.S. officials see the country as a thriving democracy and a strategic gold mine. Close to Afghanistan and Pakistan, a more advanced partnership between America and India would benefit both countries in terms of economic growth and national security.

America imposed sanctions against India in 1998 because of nuclear testing. But, thanks to former presidents Clinton and Bush, relations improved greatly and the two nations even signed a ground-breaking defense and civil nuclear (power) agreement.

With the possible exception of the political unknowns surrounding a new prime minister, previously a Hindu Nationalist, there is little reason to spend so much time courting the stagnant communist regime in China instead of nurturing a reasonably stable democracy, and growing economy, in India. In the end, it certainly seems that it would be much wiser for Washington to advance trade and economic partnerships with India.

 

Gery L. Deer is an independent columnist and business writer based in Jamestown, Ohio. More at http://www.gerydeer.com.

 

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