Despite the problem today, one thing that people continue to preach is that capitalism and free market will ultimately right itself. I think that is a load of crap. Not because the idea of capitalism and free market are wrong. Rather, it is about what people are doing with the idea of capitalism and free market. (People a f***ed up)

More than a year ago, I wrote about how people are treating the symptoms and not the root of problems. Observing what is happening, it looks like we have not moved beyond that. (People are still f***ed up)

How could we be so wrong?

The fundamental problem lies in the bottom line, and like John Bogle said, we have the wrong bottom line.

In a true capitalistic and free market, business FIRST provides services and products that are of quality, and in the process, because of the quality of services and products, they make profits. As such, business’ focus is on providing the best quality of service and product. Through competition, the best prevails and we all benefit. In a nutshell, this scenario means public interest precedes self-interest, where business creates values for society.

In the existing capitalistic and so-called free market, business FIRST makes profits, and in the process, they may… or may not provide services and products. As such, business’ focus is on making profits. While they are so focused on making profits, their services and products may or may not be beneficial and sometimes detrimental to everyone. In a nutshell, this scenario means self-interest trumps public interest, where business drains values from society. And this is what happened, and still happening.

Until people become aware and learn to behave otherwise, we will continue to see more of the same. Yeah, same different things.

Jacob at Early Retirement Extreme wrote a post, Symptoms and diseases, which main idea greatly resembles my 2007 post. Worth a read.

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It was such a gorgeous day in the Bay Area today, which is unfortunate because we need more rain or else we have a draught this summer. However, that is besides the purpose of this point.

Because of the nice weather, I was compelled to enjoy it while it lasts. After calling everyone who would not pick up their phones to share a tea or coffee outside with me, (seriously, what’s the purpose of cell phone again?), I went to play basketball to practice my shootings instead. I arrived at the court in my neighborhood, and there stood a familiar face. A boy named Nick.

Nick and I met… we actually could not recall when, but probably some half a year or so ago, at the same place. We saw each other couple times when I went to play more often last summer and before life caught up. We did some chit-chat and I showed him a few things about shooting at those times.

To our amazement, after this long while, we both remember each other’s names. I found that nothing short of amazing. We shot together for about 2 hours, during which, we both exchanged comments making observations that we both have gotten better. I also found joy when he noted that the tips I gave him had helped him. I appreciate him telling me that. We also shared some everyday things that’s happening, like his games at school and me with some basic work stuff.

We are also both working hard on improving our games, and for that, we resemble in the experience of shooting for hours by ourselves.

Even though we are no where near in terms of age and life experience, there was a connection. It is kind of hard to explain. But a connection there is.

Despite all the talks about personal finance. Despite all the talks about personal development. Despite all the current sufferings. Despite all the ideas and concepts… in the end, whether our human life has any meaning, this kind of inexplicable connection is what makes it meaningful, and colorful. By connection, I don’t mean just with people either, I mean everything around us… nature — all our neighbors.

I am glad that none of the people picked up their phones and that I went to the basketball court today. Thanks Nick.

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I came into work this morning and quickly glanced over the news headlines and guess what I read:

Obama caps executive pay tied to bailout money

President Barack Obama on Wednesday imposed $500,000 caps on senior executive pay for the most distressed financial institutions receiving federal bailout money, saying Americans are upset with “executives being rewarded for failure.”

I have no problem with free market. I have no problem with people earning a f**k load of money that they deserve. But the way Wall Street had behaved, they deserve this consequence because in my mind, any decent person who is capable of looking around themselves, would not behave so arrogantly and full with senses of entitlement in this mess currently where so many are suffering, whether because of them, partially because of them, or in spite of them. When I read how some claimed they deserve such pay, I want to punch them in the face and smash them on to the cement. We are all in this together.

When I shared this with my friend, I said this:

Wall Street had been like a bunch of kids. They were given freedom (free market with little regulations) and they showed no self-control. Now the parent had to ground them. Ahahahaha…

All in all, even with this 500k cap, it is still a lot of money. Don’t you think? I have been thinking about what appropriate consequence that these Wall Street people should be bestowed, assuming we know who and how much each has contributed to our situation. Jail time will not do as that will lead to further anger and hatred, and it is relatively useless and costs us tax money. Fining them will not do since they have millions and billions of dollars anyways.

Ah, so they have A LOT of money… then I came upon this wonderful idea. We will make them do volunteer work! Full time volunteer work for executives, bankers, money managers, and what not. Or half-time, as some may be required to keep the infrastructure intact. Details details.

The main idea is… Because they already have so much money, they don’t have to worry about starving and not able to afford a living. They have robbed the society of much values, and through volunteer work, at the same time of contributing to others and the society, they may finally be brought back down to earth and perhaps learn to appreciate all the non-money things life has to offer. One stone two birds, good eh?

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Yay, my refinance finally closed a few days ago. Decreased monthly payment is also a good thing, especially with a no-closing cost deal. I got a refund of about $47 back. As the saying goes, “Money is always better in your own pocket.” Yes yes. If you can find a refinance deal that can drop your rate by 0.5 to 1 point with no closing cost, I think it’s totally worth it. If it has closing cost, you will have to consider how much the interest rate drop will save you and how long you will stay in the current resident.

Besides that, I have some extra expense due to two community courses I am taking this quarter — about $90 total, which is cheap — and the parking for the rest of the school year, $55. One is a choir class that will result in several decent-sized public performance in March and one is a singing class that’s good for practice. Fun! Oh yeah, I sing tenor and practice very hard to get better.

Outside of work and gym and blogging, piano and singing take a lot of my time. Not only they make great hobbies. I learn so much about myself through them, and make me feel like I can ever stop learning and growing. While doing all of those, it’s a constant struggle but it’s also a wonderful feeling, to feel that I am ever growing with no limit. I am not doing them for any purpose, but I just know I want to and I’m willig to pay the costs. I suppose you can call this passion?

Do you have interests/hobbies like this? Me think it is important to have such things. Life is not about having things, and money, and drama, and shit.

I also incurred travel/gas cost and parking fee for going to UC Berkeley to recruit students. I have been doing recruiting at my current company for awhile. I haven’t gotten anything out of it nor do I intend to. I just feel that this is something I want to do, and I do it. I suppose you can call this passion too? Me think it is important to do things when you feel this way.

I guess I can talk about some pluses, which is non-job related. I get to meet a lot of students at different campuses, and it is interesting to talk to them and learn and observe all these people. I will do my best to get the competent and decent individual recruited, and there is a good feeling when I know someone I helped is doing well on the job. But not that recruiting is all a nice task.

It is quite a strain on my voice, since I sing, each time to talk all day and also tiring to stand for so many hours. It is also stressful to keep up with real work and annoying to tral to college campus due to parking and traffic. I don’t get paid extra for it either.

Like I said, it is someone I want and choose to do, and I feel blessed to have the luxury to do these things. Yet, I feel that it is important for us all to do things when we feel we should, not because we have to.

Again, although important to take care our financial life, life is not about having things, and money, and drama, and shit. It is always true and especially true when the media cannot stop talking about recession. When can people see reality as is and stop dramatizing everything and do what we must? *sigh*

And something totally unrelated, I picked up a LG Shine phone for free with 2 year contract renewal with AT&T. It’s not fancy like those touch-screen phone, but it’s quite dazzling. And nothing beats a free and durable phone.

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I share with you this article that I stumbled upon that I truly enjoyed.

… when, in the midst of all your fears and insanity, you stop dead in your tracks and somewhere the voice inside your head cries out…ENOUGH!

Enough fighting and crying and blaming and struggling to hold on.

Then, like a child quieting down after a tantrum, you blink back your tears and begin to look at the world through new eyes.

You realize it’s time to stop hoping and waiting for something to change, or for happiness, safety and security to magically appear over the next horizon.
You realize that in the real world there aren’t always fairy tale endings, and that any guarantee of “happily ever after” must begin with you… and in the process a sense of serenity is born of acceptance.
You awaken to the fact that you are not perfect and that not everyone will always love, appreciate or approve of who or what you are… and that’s OK. They are entitled to their own views and opinions.
You learn the importance of loving and championing yourself… and in the process a sense of new found confidence is born of self-approval.
You stop complaining and blaming other people for the things they did to you – or didn’t do for you – and you learn that the only thing you can really count on is the unexpected.
You learn that people don’t always say what they mean or mean what they say and that not everyone will always be there for you and that everything isn’t always about you.

So, you learn to stand on your own and to take care of yourself… and in the process a sense of safety and security is born of self-reliance.
You stop judging and pointing fingers and you begin to accept people as they are and to overlook their shortcomings and human frailties… and in the process a sense of peace and contentment is born of forgiveness.
You learn to open up to new worlds and different points of view. You begin reassessing and redefining who you are and what you really stand for.
You learn the difference between wanting and needing and you begin to question the doctrines and values you’ve grown up with, or should never have bought into to begin with.
You learn that there is power and glory in creating and contributing and you stop maneuvering through life merely as a “consumer” looking for your next fix.
You learn that principles such as honesty and integrity are not the outdated ideals of a bygone era, but the mortar that holds together the very foundation upon which you must build a life.
You learn that you don’t know everything, it’s not your job to save the world and that you can’t teach a pig to sing.
You learn that the only cross to bear is the one you choose to carry and that martyrs get burned at the stake.

Then you learn about love. You learn to look at relationships as they really are and not as you would have them be. You learn that alone does not mean lonely.
You stop trying to control people, situations and outcomes.
You learn to distinguish between guilt and responsibility and the importance of setting boundaries and learning to say NO.
You also stop working so hard at putting your feelings aside, smoothing things over and ignoring your needs.
You learn that your body really is your temple. You begin to care for it and treat it with respect. You begin to eat a balanced diet, drink more water, and take more time to exercise.
You learn that being tired fuels doubt, fear, and uncertainty and so you take more time to rest. And, just as food fuels the body, laughter fuels our soul. So you take more time to laugh and to play.
You learn that, for the most part, you get in life what you believe you deserve, and that much of life truly is a self-fulfilling prophecy.
You learn that anything worth achieving is worth working hard for and that wishing for something to
happen is different than working hard toward making it happen.

More importantly, you learn that in order to achieve success you need direction, discipline and perseverance.
You also learn that no one can do it all alone, and that it’s OK to risk asking for help.
You learn the only thing you must truly fear is fear itself. You learn to step right into and through your fears because you know that whatever happens you can handle it and to give in to fear is to give away the right to live life on your own terms.
You learn to fight for your life and not to squander it living under a cloud of impending doom, realizing that a positive attitude is a choice you make every morning when you wake up.
You learn that life isn’t always fair, you don’t always get what you think you deserve and that sometimes bad things happen to unsuspecting, good people… and you learn not to always take it personally.
You learn that nobody’s punishing you and everything isn’t always somebody’s fault. It’s just life happening.
You learn to admit when you are wrong and to build bridges instead of walls.
You learn that negative feelings such as anger, envy and resentment must be understood and redirected or they will suffocate the life out of you and poison the universe that surrounds you.
You learn to be thankful and to take comfort in many of the simple things we take for granted, things that millions of people upon the earth can only dream about: a full refrigerator, clean running water, a soft warm bed, a long hot shower.

Then, you begin to take responsibility for yourself by yourself and you make yourself a promise to never betray yourself and to never, ever settle for less than your heart’s desire.
You make it a point to keep smiling, to keep trusting, and to stay open to every wonderful possibility.

Finally, with courage in your heart, you take a stand, you take a deep breath, and you begin to design the life you want to live as best you can and are extremely thankful for all the blessings in your life.

- Author Unknown

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