Mind Over Money

Saturday morning. Not a cloud in the sky. It had been a cool start to the morning. We pull our chairs into the sunshine. A sigh of relief. This was a scary and tragic week from terrorism to mushroom clouds to the insanity of an Elvis impersonator. And we thought we were completely safe in [...]

In 1975, about 8 percent of the U.S. population was on food stamps. Currently, that number is 15 percent. Much of the growth in usage can be attributed to the recent recession. In fact, since 2008, the food stamp program has ballooned 70 percent. No surprise there. The bigger surprise is the “stickiness” of these [...]

I really want the State Tax Commission to stay in Clinton. Really I do. As a Clintonian, I understand the value added by having this large group of people in town every day. They add measurably to the town’s economy, but it’s also a sign of status to have this government agency within our borders. [...]

In the financial business, I act as a fiduciary. That means I am required to always put the interests of my clients first. In doing so, I put my own concerns and interests at the back of the line. Politicians are public servants. I thought part of the job description was to be a type [...]

So the State legislature finally decided to pony up additional money to fund PERS appropriately. Their portion will increase from 14.26 percent to 15.75 percent. Of course, had they been funding it all along as outlined by the actuaries, this big jump would not be necessary. And how will the State of Mississippi come up [...]

Sometimes we choose by not choosing. Behavioral economists have long recognized our tendency to avoid making decisions. The more difficult the decision, the more we avoid the question all together. Thaler and Sunstein wrote a book called “Nudge.” In it, they cite all kinds of instances of this tendency to avoid choosing. Of course, the [...]

I love reading letters to the editor from all over the country. A recent local letter was titled “Entitlements making America collapse.” The author said “entitlements is a dirty word,” and reported that 50 percent of Americans are receiving some form of entitlement. He was convinced these were all a bunch of deadbeats. In 1950, [...]

As a Chartered Financial Analyst, I am bound by the CFA Code of Ethics. As a registered financial advisor, I operate under federal law that recognizes me as a fiduciary. Both sets of rules require me to behave better than my local congressman. The integrity of our financial markets depends on disclosure and fairness. All [...]

Why isn’t Greg Davis in jail? >> POLL QUESTION: Should Southaven Mayor Greg Davis be arrested for using city money for personal trips, clothes and entertainment? This current mayor of Southaven, former state representative serving on the appropriations committee, and former Republican nominee for Congress has blurred the line between public and private with his [...]

Gotta love competition! The new fees on debit cards have had me hot under the collar. The financial reform bill set limits on bank debit card fees. Many lawmakers decried this change. How dare we interfere with the fine citizens of Wall Street in their pursuit of profit? It was downright un-American, and they warned [...]