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| Picture Credit: clipartkid.com |
Health care funding continues to
dominate the political conversation, with the Senate introducing its version of
a new health care financing arrangement.
Stay tuned for more on this, as the House and Senate attempt to develop
a bill that will pass both houses of Congress.
And whatever legislation is passed, look for it to be challenged in
court. Finally, keep in mind that in the
U.S., we have the finest health care on the planet. It’s the paying for it which remains the
challenge.
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In economic news, new home sales
rose 2.9% in May, to an annualized rate of 610,000 units. The Fed rate increase last week took the Fed
Funds rate to a range of 1% to 1.25%.
Before the economic implosion of 2008-09, this rate was almost five
times as much. Those attempting to live
on interest income have experienced this first hand. And, this inordinately low interest rate
environment has been one of the drivers in the outperformance of dividend
paying stocks over the last five years.
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On the business front, Coke
has announced the layoff of 400 Atlanta based employees. This news follows an announcement from
earlier in the year that Coke is reducing staff by 1200 worldwide, in order to
create a leaner organization.
And Fulton County
Commissioners decided to freeze property tax assessments at 2016 levels. Smart move on their part. Jurisdictions with taxing authority are
finding that they can’t simply continue to raise taxes, in order to fund whatever
they have agreed to pay for. At some
point, taxpayers resist, many voting with their feet that they simply won’t
stay and pay, indefinitely. Just ask
Illinois.
According to Automotive News
Europe, the U.K. government plans to invest more than 800 million
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| Picture Credit: greencharge.net |
In mid-May, a cyberattack hit
Microsoft Windows-based computers through a malware known as ransomware. While ransomware attacks are becoming
increasingly common, this attack, known as WannaCry, was noted for its speed of
transmission.
Ransomware is generally spread
via email messages that contain infected attachments. When a user opens the attachment, a program
runs that encrypts the user’s computer and demands a ransom be paid, typically
in bitcoin, for a key that will unencrypt the files.
Internally, we teach our team
some basic security protocol, as a means of protecting technology
tools and
data. First, we have tight filters on
what emails actually get through. We
review all emails caught by the spam filter, and whitelist only those we
recognize, and want to receive. Second,
we don’t open any attachments from anyone, including clients and trusted
vendors, unless we were expecting the attachments.
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Third, we don’t forward “cute”
emails, regardless of the heart touching story, or cute butterfly/kitten/baby
picture. These are often forwards
themselves, and could have picked up any number of viruses in transmission.
Fourth, we don’t automatically
send money to a client, simply because we get an email from them saying “send
money”. Those emails are currently the
primary means and source of financial fraud, by the schmucks who specialize in
this type of behavior. When we do
receive a request for funds, we evaluate the email, to confirm the email
address, and the type and amount of content, to determine that it is consistent
with the communication style of this particular client. We also confirm by phone call. This is simple to do, preserves capital, and
avoids grief for all parties involved.
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| Picture Credit: imgarcade.com |
Next week, we celebrate
Independence Day, in honor of the signing and adoption of the Declaration of
Independence, in July 1776. It was
during the summer of 1776 that the thirteen colonies declared themselves a new
and free nation, independent of England and King George.
In thinking about our heritage
as a country, and the concept of independence and freedom, several things come
to mind. First is that it takes very few
to make a difference. Those few though,
must be resolute in their conviction.
The signers of the Declaration of Independence pledged their lives,
their fortunes, and their sacred honor.
A number of them did give their lives and fortunes to the cause of
liberty.
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Another thought is that there
are differing kinds of freedom. Freedom
can encompass the personal freedom of self-determination, and economic freedom,
to pursue whatever we choose as a way to engage with work and life. It can also encompass emotional, mental, and
spiritual freedom, though these are in the realm of personal choice. If you are bound in some way, will you choose
to be free?
Quote of the week:
“Is life so dear, or peace so
sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but
as for me, give me liberty, or give me death.”
Patrick
Henry, St. Johns Church, Richmond, Virginia, March 23, 1775
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