Coffee heat rising

Another Day, Another Dollar

Finished another set of student papers, highly entertaining. This bunch seems to have split sharply between those who got it right on and those who stumbled into a haze of mystification. It’s a function, I’m afraid, of online teaching. If a human being isn’t there, in person, nagging and repeating the nag day in and day out, some folks have a rough time keeping up—especially when the pace is pretty fast, as it is in these eight-week courses.

If I weren’t already in “pause” mode about online pedagogy, this would put me in it. I spent the whole damn summer trying to make this course work for anyone who might sign up. Even after I made them take a quiz on the syllabus, they still apparently haven’t read it, still don’t do the assigned readings, still don’t seem to know due dates.

Another serious issue is that some of them either can’t or won’t buy the book. Their student aid gets to them long after the semester begins, and as a result, they simply don’t have the money for textbooks. Our text is pretty cheap—available today at Amazon.com for around $10 new, less than $5 used. But I still had someone write to ask if they really had to buy the book.

Why do they think I’d require a textbook if I didn’t expect them to read it? And why are they in school if they don’t want to read?

There’s something creepy about how wedded they are to the Internet. They just don’t want to turn it off. Given an assignment that requires some research, they’ll do everything in their power to find enough to suffice online. If a resource doesn’t exist in digital form, they just won’t go to it. They’ll ignore it. Sometimes they’ll ignore it because they don’t know where to find it…and it doesn’t occur to them to look in a library. Or even a bookstore. But sometimes they appear to be convinced that something equivalent or better is to be found on the Web.

It’s kinda sad. As rivers of knowledge go, the Internet is wide and shallow. If it’s true we’re watching the death of the printed word, what’s coming to replace it doesn’t quite seem to be up to the job of preserving a culture and passing it to the next generations.

Well. Despite its barren moments, at least teaching is a living. This morning I figured out that if we can permanently keep the present “modified” terms of the mortgage on the downtown house, I can cover my share by teaching two and two, especially if a miracle happens and I get a tax refund this spring. Three and two will cover it generously, and three and three would give me plenty of money to live more or less comfortably. And to put some cash in savings toward such frolics as buying a new(er) car and being prepared to replaster the pool, when the time comes.

Image:

Partial map of the Internet based on the January 15, 2005 data found on opte.org. Each line is drawn between two nodes, representing two IP addresses. The length of the lines are indicative of the delay between those two nodes. This graph represents less than 30% of the Class C networks reachable by the data collection program in early 2005. Creative Commons Attribution 2.5 Generic license.

Calculating the next year’s budgeting

The future of real estate, 2010

Now, this new scheme to do the 3 percent drawdown from savings so as to stock my checking account with enough cash to cover monthly expenses is not all beer and skittles.

The fly in the beer, alas, is the misbegotten mortgage on the downtown house, which under the influence of the Crash of the Bush Economy (duck! Evan’s got the Nerf Bat! :-D) has morphed from what looked like a wise move into a money-sucking black hole.

To cover my share of the mutual madness M’hijito and I got ourselves into, I’ll have to teach two sections of composition from now until the universe ends. It means that although my bills will be covered by savings and Social Security, almost everything I earn through adjunct teaching will go to pay the mortgage.

It’s annoying, but not dire: two classes don’t amount very much work. Three sections, more work than I’d like to do but not intolerable, would cover the mortgage and leave some pocket change.

Well. That assumes that we can talk the credit union into morphing our present loan modification into a permanent 40-year loan at 4 percent. If we can’t, then I’m screwed. M’hijito is planning to call the bank next week to arrange a meeting so we can negotiate the mortgage’s reset, since the modification expires in February.

This predicament would be a lot less annoying if the house were worth anything like what we paid for it. Though values in the central city dropped slower than those in the far-flung styrofoam-and-stucco suburbs, over the past year they’ve sunk into the sub-basement. We’re now about $100,000 underwater on the little house. Not counting the $35,000 we put into renovating it.

M’hijito says the house two lots down the street just sold for $140,000, and it’s larger and nicer than ours. We paid $235,000.

We’ll have to figure out what to do about that after he finishes graduate school, which will take another five years, assuming he works at it steadily. Coincidentally, about five years is as long as I figure I’ll be able to continue working, assuming my current ailment is something minor and not one of the several gawdawful things it could be.

Which reminds me…gotta get that will updated.

Meanwhile, if I live that long, for the next five years or so life will still be a little pinched—the $2,040/month budget just covers bills, with maybe $50 or $100 to spare for extra costs. But at least I won’t be wondering where even that minimal amount is going to come from. Though still won’t be any vacations, by working somewhat harder than I’d like to work in “retirement,” I can at least buy clothes and have an occasional meal out.

Image:
Zacharie Davies, Shack in Pigeon Forge, Tennessee. Creative Commons Attribution 3.0 Unported
license.

Some changes made tooodayyy….

Whew! What a week this has been! I about swooned under the workload, was reduced to tears this morning while contemplating my $448 (!) paycheck, finally came to and decided that there’s gotta be some financial and sanity-preserving changes made around here. Today!

Awoke at 3 a.m., stumbled across the hall into the office, and plopped in front of the computer, there to resume editing the copy that wore me to a frazzle last night. By 9:00, the phone was ringing, the e-mail binging, and neither Cassie nor I had had a bite to eat. Well, I swallowed a fake Pepcid around 4, but I don’t suppose that counts as “food,” eh?

Another bouncing young psychologist has found me and has been clinging to my skirts (well, blue-jean cuffs) as she struggles her way through the grueling process of applying for a clinical internship. This is a gawdawful rite of passage that happens as they’re trying to wrap  up the dissertation and engaged in research projects or assistantships. The competition for internships is so fierce and the standards so high that they live in fear of being turned down, so they churn out dozens of application packages, which are large and filled with arcane technical reports intended to show what they can do. Each package is prefaced with an elaborate cover letter, exquisitely tailored to its target institution, which is supposed to be two pages long but which requires so much information that squeezing it in to two pages is excruciating.

This project would be torment for a native speaker. But if the soon-to-be doctor’s first language is something other than English, the challenge is just horrific.

So I’ve been struggling with the client all week. Where I work 14 to 16 hours a day, she works 24. Last night we both collapsed into our respective sacks on our respective sides of the country at about the same time.

Meanwhile the li’l 101s are shoveling incomprehensible papers in this direction. Twenty narratives, penned by authors who express a certain puzzlement at the instructions, reside on the Blackboard server awaiting my attention.

Later!

This morning after reading a couple more client documents in their second or third iterations, I was forced to pay the AMEX bill. This caused me to look at my dismal finances and to be reminded of a few inconvenient truths; to wit:

I’ve already eaten $1,173 into my Absolute Catastrophe savings, and there’s no end in sight.
The $265 pool maintenance bill did nothing to help that situation.
A paycheck of $448 does nothing to help the situation, either.
Nor does reading and rereading and re-rereading vast swaths of arcana at $4.50 per single-spaced page (don’t ask!).
Although some pay periods bring in plenty of cash to pay the bills, many do not.
The combination of eight-week and sixteen-week sections magnifies this phenomenon no end.
It drives me screaming bat-shit crazy not to know from month to month how much net pay will come in.
Three months without teaching pay in the summer and another month without pay in midwinter are more than the money left over from decent pay periods will cover. Over 12 months, I’m running at a loss.
By the time I’ve worked from three or four or five in the morning till ten or later at night, I’ve racked up about 50 cents an hour for my elaborately refined skills.
The scheme to defer drawing down 4 percent of retirement savings for a year or two—or preferably till I reach age 70—comes under the heading of “forlorn hope.”
Sitting in front of a computer moving little other than my fingers from before dawn till long after dusk is making me flicking miserable.
The stress of worrying about how I’m going to make ends meet is making me physically sick.

This stuff has gotta stop.

Yesterday at the weekly breakfast meeting of the Scottsdale Business Association, the gents started talking about travel and play and life, the universe, and all that. The general consensus, led by Jerry Rose—a former teacher who decided there was more to life than teaching and so went into the travel business—was that you’d better live life now, because there may not be a later. This conversation was happening after I’d put in two hours of work before leaving the house at 6:30 a.m. to head over to the confab…

Listening to them talk, I thought, I need a life!

First off: get rid of the money worries. It’s time to give up on trying to preserve and build capital. Called the esteemed financial manager and arranged a meeting. Trotted over to his office.

There I explained that I need a minimum of $1,093 a month, net. Combined with the munificent $957 a month from Social Security, this will cover my basic bills, even in the hottest, most utility-heavy summer.

No problem, said he. This can be accomplished with a 3 percent drawdown. Since my retirement investments, which he and his colleagues have put into a wide variety of instruments (some of them calculated to be inflation-protective), are earning between 5 and 7 percent just now, he notes that this should not eat into principal. He remarked that I could draw down 4 or 5 percent without causing any harm.

With a base, steady income of $2,050, anything I earn through teaching, editing, or blogging is pure gravy. It makes a $448 paycheck look good! In a month, that’s an extra $896 on top of what I need to live!

Eight hunnert and ninety-six dollars would buy a lot of clothes at J. Jill’s. It might even take me to Santa Fe for a weekend. 😉

Knowing from the git-go that there’s going to be enough cash in my checking account to pay the bills is a huge relief. And it’s mighty nice to know that I can get there without leaving myself a pauper at the age of 90, should I live that long.

Welp, money may not buy happiness, but it’s about to buy a nice chunk of stress relief. What this means is that I don’t have to teach two or three sections of composition a semester. Hell, I don’t have to teach any sections if I don’t feel like it.

Whatever I do earn teaching can go to paying the mortgage on our upside-down house, to setting aside some money toward the next car (which I’m going to have to buy one of these days), and to buying something nice for myself and M’hijito now and again. Probably I needn’t teach any more than one section to pull that off. I’m thinking what I’ll do is limit my course load to two and then just take whatever comes along. If our chair comes up with a summer session course for me, that will be nice. If he doesn’t, that’s fine, too.

So, that should help a great deal.

Now all I need to do is figure out what to do with this life I’m shaking free.

Image:

Charles Sprague Pearce, Detail from Labor mural in lunette from the Family and Education series by Charles Sprague Pearce. North Corridor, Great Hall, Library of Congress Thomas Jefferson Building, Washington, D.C. Public domain.

Yipe! BofA as Tarnished Goods

So you thought Bank of America was a blue-chip stock? Seems to have downgraded itself to brown chip. This e-mail arrived, from my elite financial managers:

While we had intended to remain invested in Bank of America (BAC) through the turnaround, we sold that position today.  Mortgage delinquencies have eased, but banks are now facing repurchase requests on loans they originated from buyers of those loans and loan guarantors. Leading the charge to make originators repurchase their loans are Fannie Mae and Freddie Mac, the two government-owned finance agencies that guaranteed many mortgages. Freddie and Fannie are sorting through delinquent loans for signs of any violations in the representations and warranties, known as “reps and warranties.” In essence, they are looking for documented misrepresentations by borrowers or lenders on the loan applications. Bank of America is reportedly facing approximately $11 billion of unresolved repurchase demands (up 46% in six months).  Just too many clouds on the horizon for U.S.-based banks when compared to other opportunities held in your portfolio.

We will use the proceeds to invest in your other holdings that we believe have a better opportunity for appreciation in the future.

Well. That’s bracing. And of course, BofA isn’t alone.

America the Schismatic

So this morning I’m driving around and who should come on the radio but Juan Williams, late of NPR and recent of Fox News, chatting with Diane Rehm. Personally, even though what the guy said was taken hugely out of context, my empathy with him is limited by the fact that he was asked several times to quit violating the terms of employment under which he agreed to work. But today he scored some serious points with a couple of telling remarks.

First, he pointed out that if individuals can’t say, on talk shows or in any other respected public venue, how they really feel—for fear of trespassing on some standard of political correctness—then we will not know how people think and feel. All we will know is that they mouth the party line for fear of whatever repercussions may follow an honest statement, right up to and including being fired from their jobs.

And second, while he conceded that conservatives in this country now have an extremist wing that will not tolerate any sort of dissent from its rigid thinking and whose members would happily impose that thinking on all of us, he noted that the same is true of the liberal side. Among the left, who do comprise a large and influential slab of Americans, if you make certain statements that reveal you don’t buy into the accepted dogma, you become a “bad” person, even an immoral one.

As anyone who’s been reading this blog any length of time knows, the threads on my wing-nut turn to the left. But that notwithstanding, I have to allow that Williams has got something there. Advocates of both sides can be bigoted, pig-headed, and doctrinaire. And the consequences for anyone who gets in the line of fire can be devastating.

When I was running the editorial office at the Great Desert University (now it can be said), one of my underlings was a very bright Ph.D. student in history. And one of our client journals was a prominent interdisciplinary journal of women’s studies. To say its contributors were doctrinaire is to understate.

I have little patience for pigheadedness and broad, paranoid assumptions about evil forces, whether they be the white male hegemony or the brown tide. And so, I foisted most of the work onto my graduate student, who enjoyed reading this drivel about as much as I did. She needed the job more than I did, though, so she dutifully plodded through it.

And she did a good job. Authors whose thinking is clouded by preconceived opinion and dictated by emotion produce less than optimal writing. We would get articles that were full of factual errors; muddled understanding of history, literature and science; ill-written copy; and logical howlers. How the things made it through peer review was a perennial mystery. All we could figure was the peer reviewers were every bit as flakey as the journal’s execrable contributors. Copyediting this material was a challenge, and one that took a strong stomach.

Nevertheless, our graduate student persisted through two years of steady, dreary work.

The deconstruction of our office, the only one like it in North America and probably in the world, came on the heels of a series of shattering events in the history department, whose then-eminent public history program fed its graduate students into our handsomely paid twelve-month research assistantships. First, the director of the scholarly publishing program, who had taken over a couple of years before, after its highly respected founder retired, quit with a month’s notice. This left our sister program essentially rudderless for about a year.

Then, in the wake of that disaster, the public history program’s director died. Formerly the chair of the entire history department and deservedly one of the most respected scholars in the Southwest, he was an éminence grise who kept a lid on the craziness over there—and in other precincts in the College of Liberal Arts and Sciences—by the sheer weight of his dignitas.

Shortly after this gentleman passed, I began to hear complaints from the editors of the feminist rag about my research assistant’s work. She made too many errors, they said. Indeed, they said, she was incompetent.

Well, she wasn’t making any more errors than any of us made, which was precious few. Most of the errors were being instilled by authors who rejected our edits and whose inanities then went to the typesetter. They had to be corrected, expensively, at the page proof stage because of changes that were made behind our backs. Additionally, these two women—whose names were, unlike ours, on the masthead as the journal’s editors—apparently declined to review the copy before sending it to press, despite repeated reminders on my part. Consequently, there was, shall we say, a disconnect between the return of edited copy to the authors and the shipping of approved copy to the press that published it.

What you need to know about this young woman is that she was a pretty, trim blonde, an alarmingly wholesome person who was openly devoted to her two children and made no secret of her religious faith. To make things worse, until her husband took up with a colleague at his office and abandoned her, she was a happy stay-at-home mom who intended to home-school her daughters.

Anathema upon anathema!

While our office’s future within the university grew dimmer beneath the gathering financial clouds, the chaos in the history department worsened. My dean explicitly forbade me to tell my staff that we were closing, even though she and I knew it nine months in advance. Consequently, when the time came to grab new assistantships and grants, the R.A. in question, who was A.B.D., missed her chance to get the financial support that the university promised to all the Ph.D. students in that department—because she had no idea her assistantship would cease to exist when the fall semester ended and because some hitherto unheard-from forces were coming into play.

What was happening is that the radical feminists in the department, who had come to dominate the place and who highly resented the success of pretty, wholesome, traditionally oriented young women, had turned on her. The chair of her committee, who like any smart academician bent with the breeze, announced she would not read our young editor’s dissertation because she did not see it as a history dissertation. A number of tergiversations ensued, which I shall refrain from detailing here.

Suffice it to say, they did everything they could to block her from writing the dissertation.

Fortunately, she and I were not without resources. I called a friend who held dual tenure in that department and in another, an internationally prominent scholar and author. He had drifted from the history department in response to similar behavior that he had observed in the past. His annoyance over that sort of thing persuaded him to take my R.A. under his wing. He recruited another colleague to sit on her committee, and they wrested the supervision of the young woman’s dissertation away from the assembled witches. She’s writing as we speak, and the coven, whose department is now defunct, will have little to say about it from here on out.

Interestingly, the response to any woman whose choice of lifestyle did not fit what our dogmatic colleagues considered “enlightened” can only be called reactionary.

One can be reactionary on the left as well as on the right. And that, I fear, is what is ailing our country.

Our nation’s polity has shattered into gangs of reactionaries who spend their time, energy, and wealth undermining and lobbing brickbats at each other. They can’t hear each other because they’re too busy shouting. Meanwhile, vast moneyed interests who care nothing about democracy or constitutions or freedom (and in fact would prefer to operate in the absence of those nuisances) manipulate the citizenry and its distracted representatives as they please.

There’s nothing new about vicious divisiveness in America. Many of us can remember McCarthyism—one wrong word and you were a Communist, a tag that under the influence of Joe McCarthy’s personal star chamber could destroy your career and your life. What worries me is that today extremism is so widespread and so pervasive, there seems to be no help for it.

Unless things change, and soon, the democratic republic that we know as America is going to be over. Once and for all.