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Aug 2011 Dean Vlamis Newsletter

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DEAN VLAMIS

This document discusses how priorities in America have changed over time. It uses examples from the author's childhood, such as spending summers at a country club, to illustrate shifting priorities. The document then discusses issues like rising government debt and overspending. It argues that addressing fiscal problems requires making difficult choices and having priorities in order. The author laments how things like American cars and innovation do not seem to be priorities anymore. Overall, the document suggests America's priorities have shifted away from fiscal responsibility and innovation towards short-term spending and consumption.

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deanvlamis MARKET NEWS 2936 W. Belmont Avenue Chicago 60618 773.612.2666 | dean@perlmortgage.com www.deanvlamis.com Where have our priorities gone? As this has been a hot summer, it brought in mid air. I grabbed my knees, pulled Well why on earth would someone keep back memories of my childhood. I them in for a routine and safe cannon ball, spending money they do not have? Why remember being excited at going to the but ended up falling head first curled up wouldnt they, if they know all they have Nall Hills Country Club in Overland Park, like a ball. to do is service the debt and not really pay Kansas. We would be bouncing in the car off this debt. at the prospect of spending the whole What does this story have to do with day there. Nall Hills was equipped with anything? Not much really, but at least I This has to end eventually, you ask, and three pools, a baby pool, which contrary tried, I took my chance and did not back it cant go on forever. Over time, simply to the rumor spread in 3rd grade I never away and simply sit at the edge of the pool paying interest on this debt will be relieved myself in, a medium pool, and with the rest of my friends and watch the burdensome and put a strain on any budget the granddaddy of them all, the big big kids take all the glory. and economy. What happens when the bill pool. On one particular occasion I got is actually due? brave enough to venture into the large This leads us to our theme of priorities and pool, gradually making my way to the America sitting on the sidelines watching Well, you get Greece. I dont mean to be diving boards. First the low dive with the world go by. harsh on the Greeks. I myself would spend a few routine cannon balls, and dives. my summers in my fathers home town on After proving myself I nervously made Where have our priorities gone? the island of Crete right off the water. It my way in line with all the grown-up was pure paradise, and the rumors that I teenagers. This was brave on my part as What should America do? Sometimes was wearing a Speedo bathing suit in the the teenagers would spend their afternoon the most obvious plan of action to early 80s are just that; rumors! doing the classic can-opener off the take should be the simplest plan. When high dive, seeing who could soak the presented with a choice you would hope Greece has spent itself to the point where lifeguard babe with the biggest splash. So that we have instilled the proper values simply servicing its debt is too great a I was an intruder, interloper, thus creating and have our priorities in order so that burden. Paying off the debt is not in the a slight breach of etiquette. Therefore when the time comes we as a country do foreseeable future. This is what happens I had better make my time on the high not have to regret anything. when the government is used as a spending dive worth while. As I stood there, on top vehicle for all the masses. There were times looking down, beneath me a panoramic The current headline is the pending when American ingenuity and know-how view of all the pools, in the distance the deadline for raising the debt ceiling. What would pull us out of tough times. Now tennis and volleyball courts and the loud does this mean? Well the best way to it appears that the Federal Reserve and speakers blaring out a popular hit of the explain it would be similar to if someone Washington simply have to print money to day, Joy to the World, Bad, Bad Leroy say, making $30,000 per year was maxed make everything better. Brown, or the latest Tony Orlando hit. out on their credit card of $150,000. (I I felt as if I could see the whole world know, you are saying how realistic is it for It seems that everything about America from there and needed to act accordingly. someone making $30k per year to have a has changed. Remember the days of the What would it be; cannon ball; too simple; $150k of credit card debt? Well the same great American car? There were times can-opener; too predictable; a head first can be asked on a national level. How when any number of models of cars would dive; at my age? I resolved to prove my realistic is it for Washington to spend turn heads, fly down the street and people worth, to let the world know (or at least trillions of dollars it does not have?) They would dream of some day having a long the teenagers griping in the line below will call their credit card company and ask white Cadillac that would stretch from one me) that I belonged on the high dive, and them to increase their limit to $250k. Only end of the block to the other. of course to impress the lifeguard babe in this case they wouldnt actually have impatiently watching as I stood there. to call any company since in our world it would be Congress OKing itself to spend I planted my feet; arms pointed straight more money it does not have. So in this up, bent the knees and pushed offpanic. case this person would simply inform the As I lifted off the fear of actually diving credit card company that they have raised hit me, I desperately tried to change form their limit and go on spending. Mercy www.deanvlamis.com | www.perlmortgage.com
Dean Vlamis | 773.612.2666 page 2 I could be frozen in front of a TV for this happens, you simply move on. hours playing Pong or the more difficult hockey version. Today a video game is old Priorities are different now it appears, but news after a few months and the choices it shouldnt be that difficult. are endless. Lets take a look at some examples and see what the right thing to do is: The Department of Justice has held hearings and is investigating whether NCAA college football should have a playoff system rather than the current bowl structure. What an injusticemoney well spent!! Hours of fun Washington will spend $2.5 billion training Chinese prostitutes to My boys love their Sketcher shoes that drink more responsibly on the job. This light up and want a new pair every month. may not be enough for a population of When I was a youth in the 70s I yearned over a billion people. Aint that America Who can forget the Camaro Z28, Chevelle, Congress recently gave Alaska or Mustang back in the day? Granted I Airlines $500k to paint a Chinook salmon never owned one of these cars; rather on a Boeing 737. Trout fishermen in the when I was old enough to drive I had to 49th state are furious. settle for my parents green Oldsmobile Custom Cruiser station wagon. Dont Homeland Security purchases laugh, on Saturdays the car was packed include 63-inch plasma TVs, iPods, and a with coeds and it had an 8-track player! $230 beer brewing kit. I feel safer already. So there! AC/DC and the Rolling Stones would be blaring regularly. Saturday night memories The year is 1986, and I have a choice of studying for my Calculus exam I can just imagine a remake of the movie for a new pair of Jox by Thom McCann. or my fraternity, Pi Kappa Alpha, the American Graffiti with todays cars. I can Those sleek blue suede beauties with the Pikes, was having a beach mixer with one see it now, a Chevy Volt and Ford Fiesta slash emblem would keep me up at night. of the many sororities on campus. I can cruising the strip. How cool would I look in the summer with honestly say even twenty five years later my knee high striped socks flying down that it was one of the best mixers I ever the street on my purple Sears bicycle with attended. I of course was decked out in a banana seat? I maybe got a new pair once my neon Ocean Pacific bathing suit along a year depending on how fast I grew. This with my Miami Vice turquoise tank top, was a particularly hard lesson. Invariably a and Ray Bans hanging around my neck. 7 year old will get his blue suede beauties stained, and regardless how late he stays up I understand that times change and the at night spraying suede guard on the shoe 70s were a long time ago, but perhaps and washing it with water the stains will our priorities were better suited and we not go away and may actually make things appreciated things more and relied more worse. No, you dont get new shoes when on ourselves to get by. So I look fondly back at a time when Jeremiah was a bullfrog, Fonzie was cool, and Elvis was still the King! Lord almighty, were burning a hole where we lay American Graffiti 2...can you imagine? These choices or priorities, or lack of them, has changed drastically over time. As I look upon my youth and think of the things I cherished compared to what is available today, I am amazed. Every kids dream www.deanvlamis.com | www.perlmortgage.com Illinois residential mortgage licensee MB #0004358 and equal housing lender. Licensed by Department of Corporations under the California Residential Mortgage Lending Act. NMLS #194442.

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Aug 2011 Dean Vlamis Newsletter

  • 1. deanvlamis MARKET NEWS 2936 W. Belmont Avenue Chicago 60618 773.612.2666 | dean@perlmortgage.com www.deanvlamis.com Where have our priorities gone? As this has been a hot summer, it brought in mid air. I grabbed my knees, pulled Well why on earth would someone keep back memories of my childhood. I them in for a routine and safe cannon ball, spending money they do not have? Why remember being excited at going to the but ended up falling head first curled up wouldnt they, if they know all they have Nall Hills Country Club in Overland Park, like a ball. to do is service the debt and not really pay Kansas. We would be bouncing in the car off this debt. at the prospect of spending the whole What does this story have to do with day there. Nall Hills was equipped with anything? Not much really, but at least I This has to end eventually, you ask, and three pools, a baby pool, which contrary tried, I took my chance and did not back it cant go on forever. Over time, simply to the rumor spread in 3rd grade I never away and simply sit at the edge of the pool paying interest on this debt will be relieved myself in, a medium pool, and with the rest of my friends and watch the burdensome and put a strain on any budget the granddaddy of them all, the big big kids take all the glory. and economy. What happens when the bill pool. On one particular occasion I got is actually due? brave enough to venture into the large This leads us to our theme of priorities and pool, gradually making my way to the America sitting on the sidelines watching Well, you get Greece. I dont mean to be diving boards. First the low dive with the world go by. harsh on the Greeks. I myself would spend a few routine cannon balls, and dives. my summers in my fathers home town on After proving myself I nervously made Where have our priorities gone? the island of Crete right off the water. It my way in line with all the grown-up was pure paradise, and the rumors that I teenagers. This was brave on my part as What should America do? Sometimes was wearing a Speedo bathing suit in the the teenagers would spend their afternoon the most obvious plan of action to early 80s are just that; rumors! doing the classic can-opener off the take should be the simplest plan. When high dive, seeing who could soak the presented with a choice you would hope Greece has spent itself to the point where lifeguard babe with the biggest splash. So that we have instilled the proper values simply servicing its debt is too great a I was an intruder, interloper, thus creating and have our priorities in order so that burden. Paying off the debt is not in the a slight breach of etiquette. Therefore when the time comes we as a country do foreseeable future. This is what happens I had better make my time on the high not have to regret anything. when the government is used as a spending dive worth while. As I stood there, on top vehicle for all the masses. There were times looking down, beneath me a panoramic The current headline is the pending when American ingenuity and know-how view of all the pools, in the distance the deadline for raising the debt ceiling. What would pull us out of tough times. Now tennis and volleyball courts and the loud does this mean? Well the best way to it appears that the Federal Reserve and speakers blaring out a popular hit of the explain it would be similar to if someone Washington simply have to print money to day, Joy to the World, Bad, Bad Leroy say, making $30,000 per year was maxed make everything better. Brown, or the latest Tony Orlando hit. out on their credit card of $150,000. (I I felt as if I could see the whole world know, you are saying how realistic is it for It seems that everything about America from there and needed to act accordingly. someone making $30k per year to have a has changed. Remember the days of the What would it be; cannon ball; too simple; $150k of credit card debt? Well the same great American car? There were times can-opener; too predictable; a head first can be asked on a national level. How when any number of models of cars would dive; at my age? I resolved to prove my realistic is it for Washington to spend turn heads, fly down the street and people worth, to let the world know (or at least trillions of dollars it does not have?) They would dream of some day having a long the teenagers griping in the line below will call their credit card company and ask white Cadillac that would stretch from one me) that I belonged on the high dive, and them to increase their limit to $250k. Only end of the block to the other. of course to impress the lifeguard babe in this case they wouldnt actually have impatiently watching as I stood there. to call any company since in our world it would be Congress OKing itself to spend I planted my feet; arms pointed straight more money it does not have. So in this up, bent the knees and pushed offpanic. case this person would simply inform the As I lifted off the fear of actually diving credit card company that they have raised hit me, I desperately tried to change form their limit and go on spending. Mercy www.deanvlamis.com | www.perlmortgage.com
  • 2. Dean Vlamis | 773.612.2666 page 2 I could be frozen in front of a TV for this happens, you simply move on. hours playing Pong or the more difficult hockey version. Today a video game is old Priorities are different now it appears, but news after a few months and the choices it shouldnt be that difficult. are endless. Lets take a look at some examples and see what the right thing to do is: The Department of Justice has held hearings and is investigating whether NCAA college football should have a playoff system rather than the current bowl structure. What an injusticemoney well spent!! Hours of fun Washington will spend $2.5 billion training Chinese prostitutes to My boys love their Sketcher shoes that drink more responsibly on the job. This light up and want a new pair every month. may not be enough for a population of When I was a youth in the 70s I yearned over a billion people. Aint that America Who can forget the Camaro Z28, Chevelle, Congress recently gave Alaska or Mustang back in the day? Granted I Airlines $500k to paint a Chinook salmon never owned one of these cars; rather on a Boeing 737. Trout fishermen in the when I was old enough to drive I had to 49th state are furious. settle for my parents green Oldsmobile Custom Cruiser station wagon. Dont Homeland Security purchases laugh, on Saturdays the car was packed include 63-inch plasma TVs, iPods, and a with coeds and it had an 8-track player! $230 beer brewing kit. I feel safer already. So there! AC/DC and the Rolling Stones would be blaring regularly. Saturday night memories The year is 1986, and I have a choice of studying for my Calculus exam I can just imagine a remake of the movie for a new pair of Jox by Thom McCann. or my fraternity, Pi Kappa Alpha, the American Graffiti with todays cars. I can Those sleek blue suede beauties with the Pikes, was having a beach mixer with one see it now, a Chevy Volt and Ford Fiesta slash emblem would keep me up at night. of the many sororities on campus. I can cruising the strip. How cool would I look in the summer with honestly say even twenty five years later my knee high striped socks flying down that it was one of the best mixers I ever the street on my purple Sears bicycle with attended. I of course was decked out in a banana seat? I maybe got a new pair once my neon Ocean Pacific bathing suit along a year depending on how fast I grew. This with my Miami Vice turquoise tank top, was a particularly hard lesson. Invariably a and Ray Bans hanging around my neck. 7 year old will get his blue suede beauties stained, and regardless how late he stays up I understand that times change and the at night spraying suede guard on the shoe 70s were a long time ago, but perhaps and washing it with water the stains will our priorities were better suited and we not go away and may actually make things appreciated things more and relied more worse. No, you dont get new shoes when on ourselves to get by. So I look fondly back at a time when Jeremiah was a bullfrog, Fonzie was cool, and Elvis was still the King! Lord almighty, were burning a hole where we lay American Graffiti 2...can you imagine? These choices or priorities, or lack of them, has changed drastically over time. As I look upon my youth and think of the things I cherished compared to what is available today, I am amazed. Every kids dream www.deanvlamis.com | www.perlmortgage.com Illinois residential mortgage licensee MB #0004358 and equal housing lender. Licensed by Department of Corporations under the California Residential Mortgage Lending Act. NMLS #194442.