Catalunya Employs Classic Democracy as Oregon Taxes Weed

11/9/2014 Portland, Oregon - Pop in your mints…

For those among our readership who do not follow Spanish Politics, Catalunya, the region of Spain most easily recognized by its leading city, Barcelona, held a vote on two matters of the utmost importance to the Catalans.  The questions were posed in the following manner:

1) Do you want Catalunya to be a State?

2) Do you want that State be Independent?

The vote today in Catalunya, of which 80.72% voted "yea" on both questions, was not sanctioned or recognized by the Spanish government in Madrid, other than to say it was nothing more than propaganda.

According to The Guardian, roughly 2 million of the 5.4 million persons who were eligible to vote cast a ballot today, a roughly 37% turnout, which means that today, roughly 32.3% of those living in Catalunya took the time to submit a symbolic ballot in favor of their Independence from Spain.  For a quick comparison of this figure, 68.9% of eligible voters cast a ballot in Spain's last General Election in November of 2011.

While voter turnout today in Catalunya may not seem impressive on the surface, it takes on more meaning when one considers that, as it was unsanctioned by the Spanish Government, over 40,000 volunteers took it upon themselves to receive and count the ballots.

The Catalans have employed what we call Classic, or Grass-roots, Democracy in an effort to allow their citizens to determine in a civilized manner the most basic of questions with regards to self governance:  Shall we, as a region, be Independent?

Admittedly, Catalunya is in a unique position to do so.  Most regions, for which Independence is more a romantic idea than a practical one (the most recent example being Scotland's referendum to break ties with the UK), have much to lose and little to gain by declaring Independence.  Catalunya, on the other hand, is essentially self-sufficient and for them, remaining part of Spain has little upside.

For a time, the argument could be made that Spain provided Catalunya access to markets that it otherwise could not have sold into.  Today, this is a non-issue, as the EU trade agreements would continue to cover an Independent Catalan State.

The Spanish Government has a big problem.  While Spanish officials are swiftly and publicly denouncing the Catalans for holding what, in their mind, had already been declared an "illegal" vote, the Catalans have cleverly and very publicly made a mockery of what passes today as "Democracy" in the Sovereign States of the world who embrace this model of governance.

For what is Democracy if not the people's right to self determination?  Yet modern democracy for most boils down to questions of which hand picked candidate will occupy an embedded power structures, and whether or not to increase the existing tax and regulatory burdens imposed by this power structure.

With today's actions, the Catalans struck at the heart of the existing system.  Our guess is that one day, they and many other regions in similar situations will enjoy sovereign status as peers to their former oppressors in the EU. 

Throwing off the EU's chains, however, would be a matter settled by arms, as the French, American, and every other successful revolution against the clutches of Empire have shown.  It is not the nature of Empire to negotiate or put to vote matters of self-determination.

Oregon Taxes Weed

In our local elections, our fellow Oregonians chose to decriminalize marijuana. Joining them were the people of Washington, DC, making a total of four jurisdictions in the US that have changed the innocuous plant from a huge drain on tax revenue to a potential source of revenue with the stroke of a pen.

Weed:  It got your parents kicked out of school, now it can pay for yours.

Which way did The Mint vote on the issue?  We didn't.  You can read our reasons for abstaining from voting on State and Federal Matters in the links below:

Ballot Burning, Our Breaking Point, and Why the Next Gold Rush Just Began (notice the reference to Catalunya's Independence preparations)

Three Reasons Why We've Stopped Voting, The Trail of Tears

The Silent Majority, Why No One Will Win the 2012 Presidential Election

As the Catalans have seen in the case of the Spanish, government, once it exceeds a certain size, ceases to serve the people who created it and becomes at best parasitic and at worst, antagonistic and violent as it increasingly resorts to the use of force in an effort to advance a failed system.

Can Catalunya peacefully remove the yoke?

Stay tuned and Trust Jesus.

Stay Fresh!

David Mint

Key Indicators for November 9, 2014

Copper Price per Lb: $3.07
Oil Price per Barrel (WTI):  $79.02

Corn Price per Bushel:  $3.67
10 Yr US Treasury Bond:  2.31%
Bitcoin price in US:  $361.80
FED Target Rate:  0.09%
Gold Price Per Ounce:  $1,179

MINT Perceived Target Rate*:  0.25%
Unemployment Rate:  5.8%
Inflation Rate (CPI):   0.1%
Dow Jones Industrial Average:  17,574
M1 Monetary Base:  $2,939,700,000,000

M2 Monetary Base:  $11,485,000,000,000

Happy Halloween from The Mint!

As all hallows eve approaches, we are glad to inform you that we will be in attendance at the AFP annual conference in Washington, DC along with Dr. Ben Bernanke, Thomas Friedman, and 6,500 other Financial ghouls and goblins over the early part of next week.  If any of our readers will be there, feel free to drop us a line, we would love to connect with you, it will be a welcome respite from the deluge of mainstream economic/finance/banking information that has already started to bombard us in the mail!

We leave you today with what may just be the world's first "Bit o Latern": 

The World's First ever Bit o Lantern?

We wish you all a safe and fun Halloween here at The Mint!  

What created the Bolivian Economic Miracle?

10/27/2014 Portland, Oregon - Pop in your mints…

For those who do not follow Bolivian Politics, Evo Morales has one a third term as President of the South American nation we are happy to call our second home.

As Morales is seen as a Socialist hero, his reelection coincided with a deluge of praise for his hand in the Bolivian Economic miracle that has unfolded over the past 10 years from the left.  It seemed to start with an article from the New York Times back in February, which highlights Morales’ success and the paradox that it presents.  On one hand, he is a, well, a proclaimed Socialist.  On the other, he runs a balanced budget and has largely rejected the advice of the IMF and other financial overlords of the world:

Turnabout in Bolivia as Economy Rises from Instability

Then, a widely read article in the Guardian, where the author makes the bold claim that “socialism doesn't damage economies,” which sparked a swift reaction from the neo-con/neo-lib right.

Evo Morales has proved (sic) that socialism doesn’t damage economies

It is true that the Bolivian economy has grown at a mighty pace over the past 10 years, however, to simplify this miracle to solitary policy changes such as the legalization of coca farming, a deeply personal matter for Morales, or other various social policies noted by the authors is to miss the point completely.

As a public service, we present to you today the short list of reasons why Bolivia is experiencing an economic miracle in the eyes of many Westerners:

1)     Benford’s Law, which would account for Bolivia’s rapid relative growth.  As a country, it was near the bottom of many world measures in terms of economic statistics.  As such, things tend to go up from a low level quickly on a relative basis.

2)    Currency policy:  The Boliviano trades tightly with the USD similar to the Yuan.  This is due to the fact that much of the country’s savings are held in dollars.  Currency stability = real growth

3)    Legalize it:  While the legalization of coca is controversial, the removal of regulations has opened up a wild west of trade and attendant economic activity.

4)    Anarchy reigns:  Ever since Simon Bolivar freed it from Spanish rule in 1825, Bolivia has had 81 Presidents and been ruled by various “Juntas” or forms of military rule 9 times.  By contrast, the US has been around for 50 years longer and had just 44 Presidents.  If our theory that Anarchy produces stability holds, it would follow that the Bolivian economy is one of the most resilient on the planet, one that cannot help but grow from a solid base.

5)    Evo’s Charisma:  While Evo Morales is often chided, he is simple and lovable at heart, an anomaly in the cesspool of modern politics.  He has drawn a great deal of positive attention to Bolivia as the first indigenous President in the nation’s history.  This has given Bolivia international exposure not before seen.

6)    The Open Letter:  While it is a longshot, perhaps Evo has read our open letter to him and is secretly implementing our policy proposals.

7)    While Bolivia was extremely poor in the eyes of the world, yet rich in so many ways.

We love Bolivia, it is one of the most precious, pristine, and complicated places on the planet and we are honored to call it our second home.  While speculation as to what has caused the current economic miracle there will continue, we know one thing to be true:

It is Bolivia’s time.

Stay tuned and Trust Jesus.

Stay Fresh!

David Mint

Key Indicators for October 27, 2014

Copper Price per Lb: $3.08
Oil Price per Barrel (WTI):  $80.66

Corn Price per Bushel:  $3.63
10 Yr US Treasury Bond:  2.26%
Bitcoin price in US:  $350.95
FED Target Rate:  0.09%
Gold Price Per Ounce:  $1,225

MINT Perceived Target Rate*:  0.25%
Unemployment Rate:  5.9%
Inflation Rate (CPI):   0.1%
Dow Jones Industrial Average:  16,818
M1 Monetary Base:  $2,747,700,000,000

M2 Monetary Base:  $11,514,900,000,000

Are you Street Smart? Our 15 day challenge with Business Street Smarts

10/24/2014 Portland, Oregon - Pop in your mints…

Are you teachable and willing to learn new things?  Are you interested in making better financial decisions? Are you interested in making more money? Then you may just be ready for Business Street Smarts.  What is Business Street Smarts?  According to the marketing copy, it is a program which will allow us to 1) Know our Finances, 2) be Efficient, 3) Control our taxes, and 4) Prevent Fraud.  What business owner wouldn’t be interested in these skills?

Best of all, it is a fireside chat with a former colleague or ours, none other than Mike Field, CPA, JD.  For those who don’t do acronyms, he is an accountant and a lawyer.  Despite these handicaps, Mike is a fun guy, and rivals Tom Cruise in the category of person producing the most dental glare when they smile.  Here he is pitching Business Street Smarts on a segment of Colorado’s Best:

We have just completed the first audio portion of the downloadable MP3 series, which is a lesson in establishing “hooks” for memory retrieval.  In this section, Field shows you how to organize Information in your mind so that you can instantly retrieve it.  He employs a unique teaching technique to achieve this goal.  The technique seems basic, and it is.  The jest of it is to use the familiar and join it, mentally, with the unfamiliar.

At the end of the first day, we are aware that we will do the following over the course of the next 15 days in terms of sections:

1) Build a Foundation of Primary Financial Statements, Balance Sheets, Income Statements
2) Learn how to analyze these statements
3) Understand Business Taxes and the interplay with one’s personal taxes
4) Learn how to detect and prevent Fraud, as well as some basics in bookkeeping

However, all we know at this point is our way around an unfamiliar house with some incredibly strange things involving Olympic gymnasts, Count Dracula, and a cat happening in the front yard, on the porch, and in the living room.  Yet somehow, it all makes sense.  Will it translate into better financial and business decisions for The Mint?  Stay tuned.

If you are as intrigued as we are and want to learn more, visit: http://www.businessstreetsmarts.com/ for more information on this unique and entertaining program.

And by the way, don’t believe the hype on deflation, for the debt based monetary system cannot tolerate it.  The economy is going gangbusters, and will continue to until further notice.

Stay tuned and Trust Jesus.

Stay Fresh!

David Mint

Key Indicators for October 24, 2014

Copper Price per Lb: $3.06
Oil Price per Barrel (WTI):  $81.01

Corn Price per Bushel:  $3.53
10 Yr US Treasury Bond:  2.27%
Bitcoin price in US:  $358.50
FED Target Rate:  0.09%
Gold Price Per Ounce:  $1,231

MINT Perceived Target Rate*:  0.25%
Unemployment Rate:  5.9%
Inflation Rate (CPI):   0.1%
Dow Jones Industrial Average:  16,805
M1 Monetary Base:  $2,747,700,000,000

M2 Monetary Base:  $11,514,900,000,000

What to do if you are Laid Off in Portland, Oregon circa 2014

10/22/2014 Portland, Oregon - Pop in your mints…

Approximately one year ago, we had the good fortune of being laid off from our most recent employer of seven years.  We say good fortune as the first time this happened to us, after seven years at our first employer (on September 10, 2001, which is a story for another day) it marked the beginning of what continues to be the greatest adventure of our lives.

Laid off in Portlandia?  Here's what to do!

Staying in one place is comfortable, one knows what to expect, what to do, more or less what the rules are.  It is easy to see why many people get a job and then go on autopilot for 30 years.  However, staying in one place is also dangerous in that one runs the risk of stagnating to the point that they unwittingly join the ranks of the walking dead.

Humans desire to be comfortable, but it is only to the extent that they are uncomfortable that there is any hope for them.  Margie Warrell, writing at Forbes, sums up this sentiment well in her April 2013 article, Why Getting Comfortable with Discomfort is Crucial to Success.

If you have just been laid off, you are likely uncomfortable, which is good, because there is hope for you.  There will be time for that hope to blossom and trust us, it will.  However, if you have just been laid off from a long time employer, chances are that what you feel at the moment is intense discomfort laced with panic.  This is normal, and should drive you to take decisive action.

What should that action be?  As a public service here at The Mint, we are offering a series of steps that were applicable to our situation in Portland, Oregon, circa 2014.  They may or may not be useful and/or accessible to you depending upon your situation, and are not to be taken as any manner of legal/financial/tax or any other sort of advice.

With that disclaimer out of the way, we hope to guide others and save them some time and confusion in navigating the system of public support available in the Willamette Valley.

One last caveat, the following list is comprised primarily of public resources.  At this moment in time, faced with losing a primary source of income, it is unlikely that one’s political ideology will stand in the way of taking advantage of the resources available to them.  If you find yourself struggling at all with this, be reminded that these public resources are absolutely necessary given the broken monetary system that we live in.  Indeed, the use of debt as money and the economic distortions it causes every day is likely the indirect cause of your present circumstance.  Acknowledging this fact should put to rest any hesitations about whether or not to apply for public assistance, not matter what your present circumstance.

1.                 Unemployment Insurance:  The first thing we recommend, unless you have a job that you will start within the next 5 days, is to file an unemployment claim against Oregon here: https://ssl8.emp.state.or.us/ocs4/index.cfm?u=F20141022A163756B40164586.0519&lang=E if you were working in Oregon and laid off (not fired with cause), you should have no problem qualifying.  The reason not to delay this step is that you have the right to claim the first day you are out of work and have to wait a week before you can claim a week of benefits.  They last for six months and are usually ~$500 per week on the high end as of this writing. Even if you were fired for cause, you may still qualify for unemployment insurance.  Oregon is generous in this sense and many employers are paying for it in the form of an employment tax anyway and will encourage you to take it.  Do not delay on this step!  Call the same day you are dismissed, otherwise you are literally leaving money on the table.

The next two steps may or may not apply to one’s specific circumstance as they are income qualified programs which take into consideration other income sources that a household may have.  If you and your household have no other income source, bear in mind that you are below many of the income thresholds as of the day you were laid off and are likely to qualify based on the current circumstance.  This is important, because certain programs, such as SNAP, last for six months before you have to recertify income.  At that point, you will be employed (we here at The Mint believe in you!), but in the meantime, you get a six month stipend.

2.  SNAP (Food Stamps):  They usually will give these within a week as they are considered essential.  It is scaled on income and you qualify the minute your income drops below a certain level based on the number of people in your household.  Below is the website to apply through if applicable: http://www.oregon.gov/dhs/assistance/pages/foodstamps/foodstamps.aspx

3.  OHP (Obamacare): If you qualify for SNAP, you are likely to qualify for OHP, Oregon’s version of Medicaid, which is basically free health insurance thanks to Obamacare.  The website is here: http://www.oregon.gov/oha/healthplan/pages/apply.aspx

In some cases, enrolling in SNAP will automatically qualify you for coverage, which is nice, because by this time, you may be getting sick of pulling together all of your personal data and submitting it to a government agency that will no doubt be hacked.  This step is important as, once qualified, you will not have to pay COBRA or a private health insurance.  The coverage may not be great, and, depending upon how much you use your health insurance, it may be best to stick with the current provider, but if all you need is peace of mind on this front, it will save a chunk of change.

4.  Housing Assistance:  Depending upon your housing situation, there may be rent or mortgage assistance which you now, overnight, have become eligible for.  They can be a pain to apply and take a while to kick in (if they do at all), but may be worth it if they do.  Here is a list of resources in Oregon:  http://www.oregon.gov/dhs/assistance/Pages/housing.aspx

The above four steps are "defensive," now for the job search, or "offensive" side, assuming you will be looking for a job, at least for the short term until your next movie deal comes through:

2.     Networking:  There are a number of networking opportunities that any job seeker or small business owner would be wise to attend from time to time.  Attending these events will not only give you something to do other than surf the internet for jobs, it will inevitably encourage you to see you are not alone.  You may even be inspired.  One of the best in Portland is Portland Connect, you can request an invite here: https://www.linkedin.com/groups/Portland-Connect-36370/about They host a number of popular events and is a nice and efficient way to get to know some people who are there to mutually help each other.  The group drives home an oddity that we have found to be true in Portland, that it is a town where you must network face-to-face.  Portland Connect is a great place to do just that.

3.    Recruiters:  If your profession is in such demand that it can support a recruiting industry, reach out to them, as they are literally in the business of finding you a job.  In Finance and Accounting, which happens to be our industry, we recommend Robert Half.  There are many others as that are industry specific.  Find them, call them, they will help.

4.   As for internet job searching: For the most part, applying online, while giving a strange sense of accomplishment, is akin to sending a message in a bottle.  Chances are it will never get read and, if it does, the chances of it reaching the intended recipient at the right time may be slim.  It is always best to call someone at the company if possible to at least know you are not sending an “SOS to the world.”  Nevertheless, there are some sites which tend to be more responsive than others.  We seemed to have the most luck in terms of response from Craigslist posting, and Mac's List: http://www.macslist.org/ which is specifically targeted towards non-profits, our present area of expertise.  Idealist: http://www.idealist.org/ also has good leads in terms of non-profits.   Generally speaking, we had little luck with large companies and wasted a lot of time on their sites applying, though it can be good practice.

5.    Friends and Family:  Now is the time to reach out rather than retract.  Theoretically, your friends and family are another set of eyes and ears on the ground and generally be willing to assist you in your plight if it is within their means.  Reach out to the great brother and sisterhood of mankind, for we were made to help each other.  Indeed, disinterested service to others is the sure path to happiness.  Just remember to lend a hand when you are on the other side as well!

There are innumerable resources out there which may or may not apply to your situation.  We provide those listed above as a public service, for they were pearls of wisdom that we had to grasp for mostly in the dark, if it sheds the light on someone else’s way as they walk the path of unemployment, the time spent compiling it has been well worth it.

Above all, stay encouraged!  The US economy is going gangbusters and you have a place in it, it may require relocating, training, and generally becoming uncomfortable.

Get used to it, for you are now being asked to play a larger part of the long story of human progress. Embrace it.

Stay tuned and Trust Jesus.

Stay Fresh!

David Mint

Key Indicators for October 22, 2014

Copper Price per Lb: $3.02
Oil Price per Barrel (WTI):  $80.42

Corn Price per Bushel:  $3.53
10 Yr US Treasury Bond:  2.23%
Bitcoin price in US:  $383.00
FED Target Rate:  0.09%
Gold Price Per Ounce:  $1,241

MINT Perceived Target Rate*:  0.25%
Unemployment Rate:  5.9%
Inflation Rate (CPI):   0.1%
Dow Jones Industrial Average:  16,461
M1 Monetary Base:  $2,815,400,000,000

M2 Monetary Base:  $11,513,000,000,000