The Roundup for April 7-13, 2018 Edition

Love, Locked by Christopher Parsons

In my ongoing efforts to better understand myself, I’ve been listening to some of the early episodes of Gary Dunn’s podcast, Bad With Money. These episodes tend to focus on the narratives around money that have guided how she lives her life, where she learned them from, and how to overcome them, and have entailed conversations between her and her parents, her boyfriend, and with a financial psychologist and her sister.

What she’s learned, and how information is presented, has often resonated with my own experiences growing up in a family that went from middle-class, of upper-lower class, and then has split along a series of different lines as I’ve grown older. A lot of the conversations focus on how what her parents did with money while she was growing up subtly informed how Gaby, herself, has approached money as a result. And it’s gotten me thinking about the money narratives that I learned from my dad (generally really bad) and my mom (not super-terrific).

Of course, listening to some podcasts isn’t going to correct the narratives that have built up in my own head over the past several decades (e.g. debt is normal to have and carry, retirement savings are almost impossible, you should enjoy the benefits of your work now instead of later) but they do help to make explicit some of the challenges I know I need to overcome. Some of the conversations she’s had with her guests have been more or less insightful but, in aggregate, they’re useful because she uses such natural language to approach financial questions and issues that pervade many people’s daily lives. This natural language matters because it makes very clear that the show isn’t about an expert from on high explaining reality but, instead, involves the self-discovery of Gaby (and through her some discovery of the precise questions I need to ask myself). Her narratives and my own are not the same but the questions, on their own, are sufficient to jumpstart internal introspection.

The interviews she conducts are also helpful because so few people talk about financial mindsets in public that it’s hard to hear, let alone understand, the money narratives that different people hold. Through that act of listening I can better identify and situate my own narratives and ascertain what is normal, abnormal, and what needs to be corrected or remain the same. Dunn’s podcast is definitely only an early starting point but, regardless, it’s super helpful for people who don’t want to invest money but, instead, want to invest in themselves and their personal development.

On the same track of ‘podcasts I’ve listened to’ over the course of the past week, Dear Sugars has had a really good (if hard) series of episodes on consent in sexual relationships. The women who are submitting the questions are incredibly brave for presenting their experiences, and the hosts of the show are incredibly kind and nuanced in their analyses of what has taken place in their own pasts and in the lives of their letter writers. I care deeply about ensuring that all relationships — sexual or not — are consensual and these podcasts have given me insights to the challenges facing women that I may never have fully appreciated before listening to this series of episodes.

Insightful Quotation

One of the defining things about the nature of ideas is just how fragile they are: when you’re not sure whether some-thing is going to work, the idea is vulnerable. Part of protecting the idea is to be careful about who you show it to; premature criticism can shut something down that perhaps deserves more of a chance.

Great Photography Shots

I was really impressed by the water-inspired smartphone photos posted to Mobiography.

Untitled‘ by Christine Mignon
Boundaries‘ by Laurence Bouchard
Hardy Falls – Mt Magazine – AR‘ by Becky Foster

Music I’m Digging

Neat Podcast Episodes

Good Reads for the Week

Cool Things

CMHC again moves to tighten mortgage insurance rules as housing market cools

The government continues to engage in (somewhat) quiet actions to reduce its exposure to a mortgage or more general financial crisis. At this point we’ve seen shifts in EI, routine concern about Canadian debt levels and risk of increased interest rates, and now tightening of the mortgage insurance rules. CMHC’s decision parallel’s former Minister Flaherty’s earlier comments, summarized as:

Former finance minister Jim Flaherty had also expressed concern that CMHC had become too large a player in the market, needlessly exposing Canadian taxpayers to risk should there be a housing crash. The agency currently has about $560 billion in outstanding mortgage insurance on its books.

When/if there is a mortgage crisis in Canada that leads to substantial job loss, I don’t think Canadians are going to be thrilled by how their social infrastructures have been quietly reshaped around them. Or the relative lack of monetary policies that are the result of long-term low interest rates. Let’s hope nothing happens to make Canadians practically realize the implications of the past 3-4 years EI, monetary, and now CMHC changes.


Yale Suing Former Students Shows Crisis in Loans to Poor



Needy U.S. borrowers are defaulting on almost $1 billion in federal student loans earmarked for the poor, leaving schools such as Yale University and the University of Pennsylvania with little choice except to sue their graduates.

The record defaults on federal Perkins loans may jeopardize the prospects of current students since they are part of a revolving fund that colleges give to students who show extraordinary financial hardship.

Yale, Penn and George Washington University have all sued former students over nonpayment, court records show. While no one tracks the number of lawsuits, students defaulted on $964 million in Perkins loans in the year ended June 2011, 20 percent more than five years earlier, government data show. Unlike most student loans — distributed and collected by the federal government — Perkins loans are administered by colleges, which use repayment money to lend to other poor students.

» via Bloomberg

The default situation is only going to get worse and worse, especially for those that tried to hide from the US recession by staying in school and taking on educational debt.

Yale Suing Former Students Shows Crisis in Loans to Poor