Search Results for: Debt

America’s HGTV Obsession: A Reading List

Let’s get this out of the way: I can binge-watch House Hunters for hours. In the past, I’ve devoured episodes of House Hunters International and Tiny House Hunters as well, but the original House Hunters gives me the most satisfying fix: its predictable formula has never felt stale, even after many seasons.

America’s most popular home renovation and real estate network, HGTV—the home of House Hunters, its spinoffs, and a growing network of lifestyle porn—succeeds because of its consistent programming in useful escapism. In a single episode, I might learn how to refresh the color palette of my bathroom or see how much space $800K will buy me in the vacation rental market in Maui. In a half-hour dose, I can experience that strangely pleasurable thing called House Hunters rage: I’m inspired, enlightened, and incensed in equal measure, my voyeuristic side piqued by the entitled and pointless arguments over whether the kitchen countertop is the right shade of granite or whether an older house has enough “character.”

Regardless of what you think of its shows, HGTV knows the formula for successful programming. Here are six reads that touch on why this network can dish out exactly what its audience wants, hour after hour. Read more…

Birth—and Rebirth—after Bulimia

Judy Tsuei | Longreads | September 2016 | 14 minutes (3571 words)

 

“140 pounds,” my midwife announces with a smile. “That’s a healthy starting point for your height.”

Even in recovery after fifteen years battling bulimia and compulsive overeating, the word “healthy” still feels like a euphemism for “fat.”

“You’re at nine weeks today,” she continues, talking to me while typing notes into her laptop. “How’s the morning sickness? Are you experiencing any nausea?”

Before I can answer, I make a rapid gesture and then run to the bathroom. I barely have time to lock the door behind me before dropping to my knees in front of the toilet. My stomach retches. I start gagging. Sweat seeps from every pore of my body.

Please, I plead with myself. I don’t want to do this. Please. Please. Please.

I lean over the toilet, gasping. I can’t stop it from happening. My breath comes in rapid gallops between moments of vomiting saliva, mucus, and water. I haven’t been able to eat all day, so there’s no food to purge.

More gasps. More heaving.

After a few minutes, I sink onto the familiar coolness of tiles beneath my shins. Kneeling. Praying.

Five years ago, I made a vow never to purge again. But, in preparing for a new life to form, I have to meet my old one head-on. Read more…

The Shaming of the Cherry Sisters

The Cherry Sisters
The Cherry Sisters. All photos courtesy the Cedar Rapids Gazette archives.

Jack El-Hai | Longreads | October 2016 | 15 minutes (3,795 words)

 

In her late middle age, Effie Cherry felt troubled as she thought back on her life in the theater with her sisters. From the 1890s into the 1930s, the Cherry Sisters had sung, danced, acted, and recited from the stages of countless vaudeville houses. Of this experience Effie churned up mainly bitter memories. “All of the wicked, false and malicious articles written in the newspapers throughout the country concerning the Cherry Sisters,” she set down in an unpublished memoir, “were written by unscrupulous editors and reporters devoid of all honor, morals or even respectability…. After twenty-five or thirty years of persecution and slander by the press, one would think there would be an end, but the serpent’s tongue is always ready to strike in the dark, and still the slimy, venomous reptile is creeping on.” Read more…

We Need to Talk About Money: Seven Stories About Personal Finance

I suppose it’s fitting to begin a piece about personal finance by talking about my own situation: I owe the IRS and the Comptroller of Maryland a substantial part of my tenuous savings. This is the first year I’ve owed more than I’ve expected.

When I first learned how much money I owed, I had a panic attack and vowed to never leave my apartment again. I eventually emerged, sodden and pathetic, from my blanket cocoon. I discovered no one was judging me for my unfortunate situation. One friend admitted that she, too, owed an inordinate, unforeseen amount to the IRS and turned to her parents for help.

This summer, I turned 26, which means—in the good ol’ US-of-A—I’m off my parents’ health insurance. Luckily, I qualify for free coverage. It’s a huge relief. I’m proud of myself for overcoming my anxiety about signing up in the first place. This is the sort of task that feels insurmountable when I’m deep in that generalized anxiety. Again, I have to thank my dad for staying on the phone with me for 45 minutes, while I sat in the foyer of the public library, swearing about the confusing wording on the health care website.

Taxes and health insurance—what could be worse? I also owe about thirty grand in student loans; those I’ve accepted as part of life. My dad (who, I’m realizing, is basically my financial advisor), has been on my case to consolidate those puppies, but, oh my God, I don’t even really know what that means because none of us learned this in school?! Where is the manual?!

I think all of us, on some level, harbor an obsession with money—it shapes our habits, opportunities, social and familial interactions, and futures. Honest discussions about income, rent, budgets, taxes—all that stuff—force us to reckon with our privilege. For so long, conversations about money were considered gauche. With every essay and podcast episode, that taboo is broken down. Read more…

The Life and Murder of Stella Walsh, Intersex Olympic Champion

Stella Walsh, training in Cleveland, April 1, 1932 for the Olympic games. (AP Photo)

Rob Tannenbaum | Longreads | August 2016 | 63 minutes (15,868 words)

 

On the night she was murdered, Stella Walsh was in a great mood. The Cleveland resident spent much of December 4, 1980, thinking about her two passions: sports and Poland, the country she ran for when she won two Olympic medals. There was a women’s basketball match the next week between Kent State and the Polish national team, which Walsh helped arrange. Mayor George Voinovich asked her to be his proxy, and his office gave her a key to the city, which she planned to present at the game.

Walsh had planned to leave for Atlanta that day, on a trip with her co-workers at the recreation department, but two days earlier, she’d canceled her ticket, which she said was too expensive for her. She skipped work, slept late, went to the nearby Lansing Tavern in the early afternoon, then returned to the tiny home she shared with her bedridden 84-year-old mother Veronica. After dinner, without saying goodbye, she drove off to buy ribbons for the visiting Poles. She had a lot of money in her pocket, which rarely happened.

In Walsh’s brilliant career as a track and field star, she’d won 41 Amateur Athletic Union (AAU) titles and set 20 world records in a range of events, from sprints to the discus throw. She was the first superstar of women’s track and field, a dominant performer who intimidated her competitors, and the only woman of her era whose box-office appeal matched a man’s. Walsh “is to women’s track what Babe Ruth is to baseball,” one journalist wrote.

In 1980, long after her last world record, Walsh was working for Cleveland’s recreation department at an annual salary of $10,400, which was the most she’d ever earned. She bought a bag of ribbons at the Broadway Avenue location of Uncle Bill’s, a chain of Ohio discount department stores, on the city’s southeast side. In the parking lot, men approached her, one of them holding a .38. Walsh, 69, was still remarkably strong. As she tried to grab the gun, a bullet scratched through her stomach and intestines, and severed an artery in her pelvis. The thieves ran off without checking the pants pocket where she had her money.

Walsh was unconscious when a policeman working security inside Uncle Bill’s found her face down in the parking lot. As the officer turned her over, a wig fell off, and he recognized it was Stella Walsh. He asked for an ambulance to be called, but the nearest one had a flat tire, which created a delay in her care. Instead, a police station wagon came for Walsh, and officers took her to St. Alexis Hospital, less than a mile away, where she died on the operating table. A hospital inventory of her personal property included $248.17 in cash, a 1932 Olympic ring, and a pair of falsies, as they were called, for padding her bra.

In the 25 years prior to her murder, little had been written about Walsh. Born as Stanislawa Walasiewiczowna—that’s the story she told reporters, though, like many aspects of her life, it turned out to not be true—in the rural Polish town of Wierzchownia, she’d had a groundbreaking athletic career. But she also had little charisma, made bad copy, and kept to herself. Although she’d lived in the U.S. since she was 15 months old and spoke almost without an accent, she’d won her Olympic medals for Poland. Even her nickname, “The Polish Flyer,” identified her as an alien. She didn’t experience any of the twilight glory that often comforts athletes late in life; there was no documentary about her, no Congressional Medal of Honor. While she was working for the city, handing out softball permits, her fellow pioneer and ’36 Olympic contestant Jesse Owens was making speeches and earning more than $100,000 a year.

“One of the great women of sport was murdered last night,” Walter Cronkite intoned on the CBS Evening News. “Stella Walsh, who was 69, was shot and killed in a Cleveland parking lot. No suspects have been arrested.” In Slavic Village, the Polish-American neighborhood where she spent most of her life, everyone knew and loved Walsh. She tended bar at a local tavern, coached young athletes, and was viewed as an example of Polonia’s greatest virtues. “Children were her life,” one friend said. “She loved to train them, and she always trained them to be winners.” She’d been “a Cleveland institution,” Mayor Voinovich told a reporter.

Because Walsh had been murdered, an autopsy was required. On the eve of her funeral, a Cleveland TV station went on the air with a news bulletin that rattled the city, then the country, then the world: Stella Walsh was a man.

The station’s claim about Walsh was incorrect. It was neither the first nor the last mistruth told about her. Because women athletes were carelessly documented in her era, and because she cultivated mystery, there are lots of conflicting statistics and incompatible stories about Walsh, ranging from when she arrived in the U.S. to how she died. As best as these tales can be sorted out or disproven, here’s the first full account of her incredible life. Read more…

Mass Extinction: The Early Years

American bison skulls, mid-1870s. Via Wikimedia Commons.

Ashley Dawson | Extinction: A Radical History | OR Books | July 2016 | 13 minutes (3,487 words)

 

Below is an excerpt from Extinction: A Radical History, by Ashley Dawson, who argues that contemporary mass extinction is a result of the excesses of the capitalist system. In this chapter, Dawson gives a brief history of the ecocidal societies that came before ours. This story is recommended by Longreads contributing editor Dana Snitzky.

* * *

“Gilgamesh listened to the word of his companion, he took the axe in his hand, he drew the sword from his belt, and he struck Humbaba with a thrust of the sword to the neck, and Enkidu his comrade struck the second blow. At the third blow Humbaba fell. Then there followed a confusion for this was the guardian of the forest whom they had felled to the ground. For as far as two leagues the cedars shivered when Enkidu felled the watcher of the forest, he at whose voice Hermon and Lebanon used to tremble. Now the mountains were moved and all the hills, for the guardian of the forest was killed.”
The Epic of Gilgamesh (2500–1500 BCE)

When did the sixth extinction begin, and who is responsible for it? One way to tackle these questions is to consider the increasingly influential notion of the Anthropocene. The term, first put into broad use by the atmospheric chemist Paul J. Crutzen in 2000, refers to the transformative impact of humanity on the Earth’s atmosphere, an impact so decisive as to mark a new geological epoch. The idea of an Anthropocene Age in which humanity has fundamentally shaped the planet’s environment, making nonsense of traditional ideas about a neat divide between human beings and nature, has crossed over from the relatively rarified world of chemists and geologists to influence humanities scholars such as Dipesh Chakrabarty, who proposes it as a new lens through which to view history. Despite its increasing currency, there is considerable debate about the inaugural moment of the Anthropocene. Crutzen dates it to the late eighteenth century, when the industrial revolution kicked off large-scale emission of carbon dioxide into the atmosphere. This dating has become widely accepted despite the fact that it refers to an effect rather than a cause, and thereby obscures key questions of violence and inequality in humanity’s relation to nature. Read more…

Home Is Where the Fraud Is

Banksy. Crayon House Foreclosure, East Los Angeles. Via Occupy.com

David Dayen | Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud | The New Press | May 2016 | 26 minutes (7,150 words)

Below is an excerpt from Chain of Title, by David Dayen, the true story of how a group of ordinary Americans took on the nation’s banks at the height of the housing crisis, calling into question fraudulent foreclosure practices. This story is recommended by Longreads contributing editor Dana Snitzky

* * *

How could you not know who I am if you’re suing me?

Lisa Epstein drove down Highway A1A, along the Intracoastal Waterway, back to her old apartment in Palm Beach. At her side was her daughter Jenna, in a car seat; atop the dashboard was an envelope containing the monthly payment on her unsold co-op. Though her house was in foreclosure, Lisa always paid the mortgage on the apartment, her fallback in case of eviction.

Lisa gazed at the water out the window. She never wanted to miss mortgage payments; Chase told her to do it and promised assistance afterward, but then put her into foreclosure. The delinquency triggered late fees, penalties, and notifications to national credit bureaus. A damaged credit score affected a mortgage company’s decision to grant loan relief, which hinged on the ability to pay. Even if Lisa managed to finally sell the apartment, even if she could satisfy the debt on the house, the injury from this “advice” would stick with her for years. Chase Home Finance never mentioned the additional consequences, emphasizing only the possibility of aid. The advice was at best faulty, at worst a deliberate effort to seize the home. Lisa spent a lifetime living within her means, guarding against financial catastrophe. Now Chase Home Finance obliterated this carefully constructed reputation. She felt tricked.

America has a name for people who miss their mortgage payments: deadbeats. Responsible taxpayers who repay their debts shouldn’t have to “subsidize the losers’ mortgages,” CNBC host Rick Santelli shouted from the floor of the Chicago Board of Trade on February 19, 2009, two days after Lisa got her foreclosure papers. “This is America! How many of you people want to pay for your neighbor’s mortgage, that has an extra bathroom and can’t pay their bills, raise your hand!” The floor traders in Chicago, between buying and selling commodity futures, hooted. This rant would later be credited as the founding moment of the Tea Party. And it signified a certain posture toward delinquent homeowners, a cultural bias that equated missing the mortgage payment with failing the duties of citizenship. The indignation didn’t account for mortgage companies driving customers into default. However, lenders welcomed anything that humiliated deadbeats into blaming themselves. In most cases it worked: in the twenty-three states that required judicial sign-off for foreclosures, around 95 percent of the cases went uncontested.

But Lisa had an inquisitive mind. Before she would acquiesce, she wanted to understand the circumstances that led to this lawsuit from U.S. Bank, an entity she had never encountered before seeing it listed as the plaintiff. She had three questions: who was this bank, why did it have a relationship with her, and why was it trying to take her house? Read more…

Borges and $: The Parable of the Literary Master and the Coin

Elizabeth Hyde Stevens | Longreads | June 2016 | 31 minutes (7,830 words)

 

Nothing is less material than money. . . . Money is abstract, I repeated, money is future time. It can be an evening in the suburbs, it can be the music of Brahms, it can be maps, it can be chess, it can be coffee, it can be the words of Epictetus teaching us to despise gold. Money is a Proteus more versatile than the one on the island of Pharos.

—Jorge Luis Borges, “The Zahir”

I fell in love with Jorge Luis Borges when I was a freshman in college. That year, full of hope and confusion, I left my hometown for the manicured quads of Brown University, desperately seeking culture—art, beauty, and meaning beyond the empty narrative of wealth building that consumes our world. It is easy to look back and see why Borges spoke to me. The Argentine fabulist’s short stories were like beautiful mind-altering crystals, each one an Escheresque maze that toyed with our realities—time, space, honor, death—as mere constructs, nothing more. With the beautiful prose of a poet-translator-scholar, he could even make money seem like mere fantasy. It was precisely the narrative someone like me might want.

Yet, money is real. We live and die by the coin. Money tells us how many children we can raise and what kind of future they can afford, how many of our 78.7 years must be sold off in servitude, and what politics we will have the luxury of voicing. As a college freshman, I still knew none of this, and I had the luxury of not thinking about money. These days, it seems all but inescapable.

I am still full of hope and confusion, but at 35, practically nothing concerns me more than the coin, a metonymic symbol representing my helplessness. The coin represents this desperate need to support myself and my writing when, in the very near future, I start a family. My mind has changed; all my journal entries turn into to-do lists and career strategizing. Money, planning, and money. I think of little else. Read more…

Could You Afford a $400 Emergency? Neal Gabler Says His Financial Confession ‘Was Not an Easy One to Write’

If there are two things Americans are good at, it’s mishandling our finances, and using Twitter to judge those who are in worse shape than us.

Thus we have the perfect Atlantic cover story this week—a refreshingly honest and desparingly relatable personal essay by writer Neal Gabler about his many financial mistakes, as well as a look at why even high-earning families in the U.S. are still living paycheck to paycheck. Gabler told me the piece “wasn’t an easy one to write.” Read more…

Your Phone Was Made By Slaves: A Primer on the Secret Economy

Kevin Bales | Blood and Earth: Modern Slavery, Ecocide, and the Secret to Saving the World | Spiegel & Grau | January 2016 | 34 minutes (9,162 words)

 

Below is an excerpt from Blood and Earth, by Kevin Bales, as recommended by Longreads contributing editor Dana Snitzky

* * *

We think of Steve Jobs in his black turtleneck as the origin of our iPhones.

It’s never a happy moment when you’re shopping for a tombstone. When death comes, it’s the loss that transcends everything else and most tombstones are purchased in a fog of grief. Death is a threshold for the relatives and friends who live on as well, changing lives in both intense and subtle ways. It’s the most dramatic and yet the most mundane event of a life, something we all do, no exceptions, no passes.

Given the predictability of death it seems strange that Germany has a tombstone shortage. It’s not because they don’t know that people are going to die; it’s more a product of the complete control the government exerts over death and funerals. Everyone who dies must be embalmed before burial, for example, and the cremated can be buried only in approved cemeteries, never scattered in gardens or the sea. Rules abound about funerals and tombstones—even the size, quality, and form of coffins and crypts are officially regulated. All this leads to a darkly humorous yet common saying: “If you feel unwell, take a vacation—you can’t afford to die in Germany.”

Granite for German tombstones used to come from the beautiful Harz Mountains, but now no one is allowed to mine there and risk spoiling this protected national park and favorite tourist destination. So, like France and many other rich countries, including the United States, Germany imports its tombstones from the developing world.

Some of the best and cheapest tombstones come from India. In 2013 India produced 35,342 million tons of granite, making it the world’s largest producer. Add to this a growing demand for granite kitchen countertops in America and Europe, and business is booming. There are more precious minerals of course, but fortunes can be made in granite. In the United States, the average cost of installing those countertops runs from $2,000 to $8,000, but the price charged by Indian exporters for polished red granite is just $5 to $15 per square meter—that comes to about $100 for all the granite your kitchen needs. The markup on tombstones is equally high. The red granite tombstones that sell for $500 to $1,000 in the United States, and more in Europe, are purchased in bulk from India for as little as $50, plus a US import duty of just 3.7 percent.

Leaving aside what this says about the high cost of dying, how can granite be so cheap? The whole point of granite, that it is hard and durable, is also the reason it is difficult to mine and process. It has to be carefully removed from quarries in large thin slabs, so you can’t just go in with dynamite and bulldozers. Careful handling means handwork, which requires people with drills and chisels, hammers and crowbars gently working the granite out of the ground. And in India, the most cost effective way to achieve that is slavery. Read more…