Fiscal Realities

I assume we've all seen this article? ? I do feel badly for them, as I feel badly for most people that end up in this situation, in particular when children are involved. However, ultimately, we have to take responsibility for our fiscal well-being.

Let me preface this next segment by saying I have no idea what sorts of mortgages the Giudice's had on their homes (and I will not bother to speculate). The next paragraphs serve as an introduction to my opinions of the pressures of American consumerism, coupled by fiscal irresponsibility and deregulation. Also, what follows is simplified and not a multi-faceted look the recession, with a look at the human factor.

I'm a proponent of regulation. (I think) A lot of America's economic problems are due to deregulation of the market place. Including a failure to check mortgages and bank (and in worst cases, predatory) lending (compounded by real estate speculation. Call it Tulip Mania 2008!). Simply speaking subprime lending allows people to finance a purchase using borrowed money. This person is one with poor credit and they do not qualify for a normal (prime) loan because the risk of default is too high. Instead, at the price of higher fees, higher interest rates and the likelihood that their loan is not fixed (an adjustable rate mortgage), it pretty much is the last ditch effort of loans. Of course, the whole notion that a person that cannot afford to keep up with their credit payments that AREN'T subprime can keep up with payments that ARE subprime is sheer delusion in most cases (but not necessarily all) if you ask me. I think a lot of borrowing, borrowing with over the top ridiculous fees, exists on our notion of achieve the American Dream, of having it all, and living a certain way and that this also played a role in our movement towards recession.

Unfortunately not everyone can afford to live the (nearly non-viable) American Dream: the house, the picket fence, etc. There are a number of various factors that influence our socio-economic status ranging from race, gender, education, etc etc etc and I do not have the time nor energy to go into the various problems that exist in America in the context of class-sex-race-gender. If we look at the credit crisis, an item emerges: Americans are consumers, and the mantra may as well be consume first, think about paying later (or never). As total Neuroscience cutey Jonah Lehrer puts it in his book "How We Decide," we're incredibly short-sighted when is comes to credit. (This is the main reason I plan to get an American Express- it's a charge card).

I've lived in Northeastern New Jersey all my life. It's not a cheap place to live. In fact, it's regularly declared to be one of the priciest places in the United States. Costs are over-inflated in New Jersey, and it can really affect the way you view money growing up here. Also skewed by the cost of living is personal income. Teresa and Joe claim a salary of USD79k (I imagine this is taxable income) plus another USD120k in "family assistance" (this, I imagine, is not taxed). That's a net income of USD199k. Undeniably that's a hefty chunk of change when compared to the national average, however, put into the context of Northern New Jersey costs compared to the presentation of their lifestyle on television, Joe and Teresa were living well beyond their means. Qualifying for mortgages became easier (deregulation people!) over the course of the 21st century as standards declined, and I am curious if the Giudice's even bothered to place a down payment on the mortgage on their "French Chateau." Even at the height of my father's Wall Street career (several years ago; my father is now deceased) when he was making more than the above mentioned income+family assistance, I don't think my family would have EVER moved into a house that would require that large of a mortgage. My mom is, in her own words, a "thrifty New Englander" and loves saving money.

Three homes and eight mortgages? USD104k in credit card debt? And for what? They were attempting to project an image. And when you're around people that are upper middle to upper class the desire to keep up with the proverbial Joneses is perhaps intensified.

Like the underlying assets of a busted speculative bubble, is the American Dream worth anything today? Teresa and Joe are victims of the very dark side American Dream. As were Tamra and Simon Barney, and Lynne and Frank Curtin. However, perhaps the importance of the American Dream has even greater weight for Joe and Teresa because of their upbringing as the children of immigrants. If only they had known that in the modern era the American Dream is a total fallacy.

If something seems too good to be true it probably is.

Episode V

Tonight's episode was crazy and upsetting. This poor family has a child sick with cancer and in comes a crazy woman with an entourage of felons, cons and hell's angels. She turns the whole of the event into something about herself. How crazy. She's not well. I've already expressed my belief that she has a personality disorder (and I am not the only one that thinks that). Her narcissism is insane. It's off the charts. And she's so vindictive and I generally think apathetic to the condition of others. Did anyone else notice that that fellow in her posse, Danny, totally said the word "faggot" more than once, and we did not see Danielle say boo about it-much different that her reaction last year to the use of "gay" by Joe (obviously neither is acceptable in any society, polite or otherwise)? Like, she was so caught up in the moment, the manipulation, in herself, self-obsessing, that she could have cared less.

Further, she's like shit talking a 20 year old kid, trying to emotionally psych him out! You're like 50 years old! What is up with that? Also, the woman you're with is the mother whose child is best friends with the kid you're trying to psychologically intimidate?

I am trying to figure out this Kim "G" (have we noticed how they are called "G" even though their last name was said twice in this episode) woman. Is she just desperate to get on tv? Is Andy Cohen going to bring her onto the show, and is this their way of introducing her to the world a la the introduction of the new New York housewives? Either way, she and Danielle are good for one another because they're both more or less using one another it seems like. A symbiotic parasitic relationship!

As for that crazy birthday party thrown for Gia. It looked fun, but who the hell thinks it's a good idea for someone that young to ride around (helmetless) with their younger sister on the back (also helmetless). Gia's little red headed friend dressed in black was visible in the back ground with this really skeptical look on her face.


Anyway, return tomorrow for an update complete with dinner.

Reflecting Before Tomorrow's Cooking Debut

I've made my choice regarding tomorrow's dish. I sat down and combed through the book and came to a decision based on the recipe's preface: that it's ideal for cold nights, and my has the weather been miserable. For those not in New Jersey it's the middle of May and it did not even break 50 degrees today! This was only made worse by the dreary drizzle. Tomorrow should be warmer, but by the time I'm making dinner the temperature should be in cooler territory.

Speaking of cold, I'm having the blogger version of cold feet. Don't worry, I'm not going to not cook! I'm just getting anxious because I realized how daunting making all this food is actually going to be! Cooking can be an ordeal. The supplies, the prep, the cleaning-on top of that I'll be doing this after a long day at work and a train commute home! All my friends can attest to the fact that I'm high strung, especially when it comes to food. I for one am not surprised that I'm somewhat stressed about the task ahead of me. I can only imagine the stress the woman behind the Julie&Julia blog (the blog that this blog kind of parodies) must have felt cooking more than 500 recipes!

Perhaps I'll have to make sure to drink a few of Teresa's Bellissimo Bellinis whenever I find myself stressed in the kitchen (and anyone who cooks can tell you drinking is some of the fun of cooking)!

Oh! And what am I going to make tomorrow? Well, I went to the Market Basket and bought all my supplies, but you're just going to have to come back and see for yourself!

In the Beginning

It all started last week when a friend and I went to the Borders at the Columbus Circle Mall to meet Real Housewife Teresa Giudice. It’s funny, the two of us from Bergen County, very close to where they film Real Housewives leaving the state to see a fellow Jersey Girl as opposed to going to the closer-to-home Book-Ends in Ridgewood, NJ (though in my defense, I do work in Manhattan, so I was already there!).

Back at home my mother and I flipped through the pages of Teresa’s book impressed (though not surprised given her heritage) at the authenticity of her recipes. I joked, wouldn’t it be funny if I started a blog a la Julie & Julia, where I cooked my way through Teresa's cookbook. My mother suggested I pitch a show to Andy Cohen (Andy, if you're reading, I'm open to negotiations). However, I decided it would be best to start off someplace more easily accessed (and more realistic).

So join me as I cook and eat my way through Skinny Italian, weigh in on the second season of the Housewives, and enjoy “La Bella Vita.”

I'm the pasty one (duh!)