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A Year of Yes: The most personal interview I’ve ever given is now live on the How Humans Change podcast

Screen Shot 2018-11-14 at 10.19.44 PMIf you want to really know me, listen to this interview. The big question for me in this lifetime is, “Does everything matter or does nothing matter?” A few months ago, I gave the most personal interview I’ve ever done. My friend, mentor, and storytelling hero, John Bucher, introduced me to Josh Chambers and Leiv Parton, hosts and producer of the podcast, How Humans Change. My interview is now live. our wide-ranging conversation includes career, science, sustainability, the health of the planet, biomimicry, dinosaurs, product development, therapy, curiosity, change, the economy and capitalism, time, technology, work, culture, implicit bias, life-changing moments, storytelling, writing, poverty, trauma, writing, my book, mental health, strength, resilience, therapy, fear, courage, my apartment building fire, how my plane got struck by lightning, and so much more. Despite these dark topics, there is a lot of light, fun, laughter, and healing in this interview. It’s the most personal interview I’ve ever given, and some of the details I reveal about my personal path and past I have never discussed publicly before now. I hope you enjoy the podcast episode and that it inspires you to live the best life you can imagine.

In the pause: Thinking of Lady Liberty

When I worked at Amex from 2008-2012, I would sneak away from my desk for a few minutes, go up to the 50th floor, and look out the big bay windows at New York Harbor, one of the busiest harbors in the world that has very strong currents and tides.For me, New York Harbor was then and is now a powerful allegory to our nation’s circumstances. A few minutes with that view kept me sane and calm in times that were anything but. Seeing the Statue of Liberty and Governors Island reminded me that no matter how troubled the waters of our nation are, we would be okay if we could all hang together and support one another.

I’ve been thinking about that view a lot lately as we face times that seem just as uncertain and frightening with the executive orders regarding immigration and the battle now being waged around financial regulation. How can we disagree so vehemently and remain united? How do we move forward when there is such fundamental disagreement on a human level? These are questions I will continue to consider in the coming months and years. I’ll let you know what I find.

In the pause: More data on our national economy

As a follow-up to my post a few days ago (Leading Economic Indicators We All Need to Watch), I had a conversation with one of my former business professors. I wanted to get his perspective on my concerns and about the economy to see if there were other indicators I should be watching. He mentions a few here and details some of his very real concerns as well. He is someone who constantly watches the global and national economy, as well as the stock market, so I trust his advice, guidance, and thoughtfulness. I hope this is helpful to you as well.

“Christa:

Nice to hear from you!

Like you, I’m feeling a bit uneasy about the stock market right now. Very high P/E multiples. To justify those prices will take an extraordinary breakout of growth in the US (and world) economy. The saving grace is that the financial industry still looks fairly stable—bigger capital bases than in 2007, more conservative lending, etc. If there is a downturn in the next year or so, I don’t think it will have the force of 2008. But still, a downturn is a downturn and something to be prepared for.

Your blog post offers some very good advice. I encourage people to keep 12-18 months’ worth of living expenses in fairly safe and secure investments. And I remind them of the old adage that there are two ways to be rich: one is to have a lot of money; and the other is to have simple needs. Avoid running up debt balances (except for education and a home mortgage). And the most important asset one has is between one’s ears: keep learning so as to stay valuable to your employer—that’s the best defense against a layoff.

Hope these comments help.

Be well.”

 

In the pause: Leading economic indicators we all need to watch

Buried deep in the Business & Finance sections of media channels, there are some leading economic indicators that we all need to watch. I have to admit that I’m getting very nervous. I’m beginning to feel like it’s 2007 so I’m making plans with my money. You’ll find a mini-action plan at the bottom of this post. I hope it helps. Please feel free to share this post with anyone whom you think would be interested. I don’t have a crystal ball. This is just what I’m seeing, reading, hearing, thinking, and doing. I put links below for you to reference:

  1. Executives at Wall Street’s largest banks are dumping stock, and I mean dropping shares like they’re hot potatoes. They have sold nearly $100 million worth of stock since the election. And it’s not just some of them. It’s all of them! Bankers dump stock because they think now is the best deal they’re going to get for a good long while. They’re smart as hell when it comes to these kinds of predictions so pay attention to them. Yes, the Dow hitting 20,000 is a big, flashy story. But honestly, that’s all it is. Don’t think that means good times are ahead. The Dow is going to seesaw like it’s on an elementary school playground for years to come. In July 2007 the Dow hit a record 14,000 and then it plummeted to 6,547 in March 2009. Those were dark times filled with panic. There is a high degree of volatility in our economy right now, and by all accounts that volatility is going to continue to a frightening degree.
  2.  Emerging markets are selling debt at record numbers. Argentina’s finance minister explains why in an interview with the WSJ: “Nobody knows what’s going to happen to U.S. interest rates with Mr. Trump as President. We have to reduce the level of uncertainty that there is now. The right decision is to minimize financing risks.” Again, finance ministers in foreign countries are seasoned professionals who spend their waking hours watching economies and policies. This is all they do, so when they make statements like this, it’s very significant. We need to listen to them.
  3. Contrary to all of the hoopla from the West Wing this week, American corporations are not investing in their businesses. They are stockpiling cash to the tune of $1.9 trillion, the most cash they have ever held. Ever. This isn’t rainy day savings. This is flat-out hoarding. Why would they do that? The same reason you would stockpile cash—because they are worried about what’s ahead. By having cash on-hand, they will be able to make adjustments and survive. In a difficult economy, cash is life (literally!) Accountants and finance professionals help companies manage and hedge their risk. Again, they know what they’re doing.

Look, I have no desire to relive those frightening years of 2008 – 2012. They were awful. But please understand that in the case of global economics, there is very little that ordinary individuals like you and I can do to impact this outcome. This is an issue that is truly in the hands of fiscal policy makers and elected officials. Trump’s volatility and foreign policy decisions will move markets. I wish that weren’t the case, but it is. So here’s what I’m doing to protect myself:

  • Increasing my cash savings. I’m still savings for retirement in my 401K and IRA, but I’m not making any significant purchases that will put me behind the 8-ball financially. I have a lot of friends who bought houses, cars, and the like in 2007 just after we graduated from business school. Some paid dearly for those decisions for years. I have an emergency fund if my job evaporates or I have a medical emergency. Liquidity will be the name of the survival game if our economy goes belly up again like it did in 2008.
  • I’m continuing my side hustles as a freelance writer and I don’t spend any of that money. I save it. The extra income really helps.
  • I have a plan if lose my job tomorrow. I know it is scary to think of things that way. I know it isn’t optimistic. I know it sounds like Doomsday is on our doorstep. No one wants to think about this. But we must. Please. Just have the plan ready to go, and then get back to work.
  • Now is the time to up your skills and make yourself more marketable. I’m now thinking of ways to do that through volunteer work and free or low-cost trainings. Now’s the time to break out our jack-of-all-trades game faces.
  • If you are in a job that looks shaky now, I would strongly encourage you to look for a new job and get out ahead of the storm. If your company is unstable now, it will only get more unstable with a rocky economy. Don’t cross your fingers and hope everything will work out alright. Now is not the time to preciously cling to feeling badly about leaving your company, or your boss, or your coworkers. The only one who’s going to make things alright for you is you, and remember a company will protect its own survival before it protects your job. When their backs are up against the wall, people become line items. I know that’s painful to hear; it’s also truthful. I watched 10s of 1000s get laid off from my company from 2008-2012. It was harrowing. I still feel sick about that time. Companies are survivalists so we must be, too. Take care of you.

I wish this were a sunnier post. I wish like hell that I had great news for you when it comes to the economy. But listen, knowledge is power and protection. I would be delighted to be completely wrong about all of this though I’m of the belief that it’s better to have a plan you never need rather than needing a plan you never have.

And if you need help, please let me know. I am not a finance expert by any means so please don’t take this advice as such. I do read a copious amount of information on a daily basis in dozens of channels. I try to stay as informed as possible on a wide variety of subjects. As I learn and understand more, I will of course share it. Together, watching out for one another, we are stronger and more resilient. If last week is any indication, we’re in for quite a ride for at least the next 18 months until the midterm elections. At least we’re all in the same boat. Now let’s row in the same direction.

Wonder: And there is the first crack in the economy post-election, right at my doorstep

The first economic casualty of this election found me yesterday. My favorite staff member in my apartment building told me that my landlord is outsourcing the staffing of the building in preparation for a recession that they think will hit in the coming months. The staff is being offered the chance to interview for the outsourced company, though there is no guarantee of a job and even if they do get a job, their pay will be cut and their housing subsidy will be taken away.

“Even if I get the job, they’re going to cut my pay by $3.50/hour,” he said to me. “And that’s going to hurt a lot. My last day could be November 30th if I don’t get this job. I was wondering if you could do me a favor, Christa. Would you write a recommendation letter for me that I could bring to the interview?”

My eyes teared up. This man has been a good friend to me, and really makes my building feel like home. He’s professional, kind, and caring. He loves his job and the people who live in my building. I’d pay double my rent to help him and the rest of the staff who do such a wonderful job helping all of us. I was prepared to take out my checkbook right there, and instead what he asked for was a letter. $3.50/hour is a lot to him; it makes the difference between being able to pay his bills and not being able to pay his bills. Let that sink in. He lives in D.C., a very expensive city, and makes less than $35,000/year before taxes, and that could drop to $27,000/year. That’s what he’s fighting for. That’s what he’d be grateful to get. This is the working poor. Right. Next. Door.

The President-elect, ensconced in his 3-story, 24K gold penthouse on Fifth Avenue, doesn’t care a lick about people like my friend. But you know what? I care. I can do something, and I will. I wrote my heart out in that reference letter for my friend. I’ll be writing a lot of letters in the coming days, weeks, and months. I’m not going to standby and watch our economy and our country go to hell in a hand-basket at the hands of an inexperienced madman and his cabinet of ignorants. Deplorable? Yes. Unstoppable? No.

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