An important book...

(Especially if you want to know where you -- and your money -- are going...)

Stating the obvious: the nation's economy -- read: the world's economy -- is in a real mess right now. The little secret, however, is that a number of people are doing well because they saw what was coming and took a better path.

Even if you're not one of those comfortable few, hope is not lost. Economics is about trends, signposts and cycles. And if you have a better understanding of how it all it works and what to look for (good and bad), you're more likely to weather the storms.

A good guide can be helpful when it comes to charting these things out, so it is with great pleasure that I highly recommend a new (guide) book by an old friend: "50 Economic Indicators That Really Matter: From Big Macs to 'Zombie Banks,' the Indicators Smart Investors Watch to Beat the Market," is by Simon Constable (columnist and host of the Wall Street Journal's web program, "The News Hub") and Robert E. Wright. It's a look at those things, great and small, that let us know where the money is going.

Constable has been a radio colleague (the John Batchelor Show) and a friend for several years, and I never cease to be impressed by his work on News Hub, his writing or his off-the-cuff (wry) observations. He's smart, witty and plain-spoken...and that all comes across in his writings. (He appears in the ABC News interview clip below.)

As the publisher points out, the book "offer[s] investors powerful new tools to guide them through the markets. Whether it's the VIX index (which tracks the level of anxiety among investors) or the Vixen index (which tracks the number of attractive waitresses in your hometown), this essential guide includes in-depth analyses of 50 valuable economic indicators, as well as what to watch for, what to do when movement happens, and the risk level involved in taking action. This must-have guide entertains and enlightens while offering essential advice on navigating the global economic climate."

If you want to gain a better understanding of how money moves the world (as well as around it), I wholeheartedly recommend you grab a copy of "50 Economic Indicators That Really Matter."

You and your wallet will thank me (and Simon)...

Charlie Rangel - guilty as charged...

It's sad news, but it's about time...

Rep. Charles Bernard "Charlie" Rangel (NY-15)...

Charlie Rangel, the 20-term Congressman from New York, was found guilty on a host of ethics violations today. Rangel, long-known to be a "dirty" pol, will now go down in the books for his misdeeds in office.

And that's a shame.

First, every member of Congress has the distinct opportunity to help his/her constituents in ways that almost no one else can. Holding office as a Representative is an honor and a privilege. Turning one's back on that in order to self-enrich/empower is criminal...and worse.

Second - and here's the really sad news - Rangel was a hero in the Korean War.

How Charles Rangel could have been remembered: as the Korean War hero...

"During the Korean War, he was a member of the all-black 503rd Field Artillery Battalion in the 2nd Infantry Division. In late November 1950, this unit was caught up in heavy fighting in North Korea as part of the U.N. forces retreat from the Yalu River. In the Battle of Kunu-ri, Rangel was part of a vehicle column that was trapped and attacked by the Chinese Army. In the subzero cold, Rangel was injured by shrapnel from a Chinese shell. Some U.S. soldiers were being taken prisoner, but others looked to Rangel, who though only a private first class had a reputation for leadership in the unit. Rangel led some 40 men from his unit, during three days of freezing weather, out of the Chinese encirclement; nearly half of the battalion was killed in the overall battle. Rangel was awarded a Purple Heart for his wounds and the Bronze Star with Valor for his actions in the face of death. His Army unit was awarded the Presidential Unit Citation, the Republic of Korea Presidential Unit Citation, and three battle stars." (h/t: Wikipedia)

Today's obvious findings will be an unfitting conclusion to a political career that could have been great...as well as to a legacy of military leadership and heroism that was...

How he will be remembered: In this now-infamous photo from the NY Post, "Harlem Rep. Charles Rangel dozes on the beach at the Punta Cana Resort, where he owns and rents out a villa. He was squeezing in some vacation time before attending the Democratic convention." The photo, which was part of the public outcry about the Congressman's properties (and the taxes he avoided), hastened his undoing...

A report from the Wall Street Journal's News Hub, hosted by my radio colleague, Simon Constable...

Late add: Rangel's response...

Radio-ology

Lots of airtime for yours truly this weekend…

Tomorrow night (Saturday, July 17), from 6 – 10 p.m. (Pac Time), I’ll be co-hosting The John Batchelor Show with Simon Constable and Gordon Chang. We’ll be discussing a variety of issues with correspondents throughout the U.S. as well as key locations around the world where news is breaking.

Gordon Chang...

I’ll also join John on Sunday night to discuss California news, politics and the economy.

Simon Constable...

A little background: The John Batchelor Show streams on dozens of affiliates across the nation, and you can go to the individual station websites and find the "Listen Live" icon. Easier, instead, is iTunes streaming. Go to iTunes Radio and prompt Enter. Scroll down to "Talk/Spoken Word" and prompt Enter. Find the John Batchelor Show affiliate and prompt to play the stream. The stream (WABC, WMAL, WLS, KSFO, WBAP and so forth) will load quickly and hold perfectly. The show also appears on the XM/Sirius satellite radio network(s).

The John Batchelor Show is an essential tool for understanding the new order in the 21st Century. The world is now facing a dangerous and fanatical enemy determined to destroy Western civilization on both political and military fronts. In this, the first great ideological battle of the new millennium, it is imperative to know the major players and the theaters in which they operate. The show features a multitude of distinctive elements. John's themes cover every detail - from military battles, presidential campaigns, planetary exploration, and Hollywood politicos to his own international travel. The show has been broadcast from many corners of the world and the program calls out to all points, including New York, California, Jerusalem, Des Moines, Kazakhstan, Orlando, Manchester, Morocco, Boston, Taipei, Washington, and Baghdad (to name but a few locations).

This week on the radio...

Tuesday, June 15 (afternoon): I’ll be filling in for Dave Congalton at KVEC-AM 920, from 3-5 p.m. (PacTime). My guests will be – political analyst, Bill Whalen; Melissa and Jeff Purchin (with summer/swimming safety tips); Reuter’s White House correspondent Jon Decker; and Dr. Joe Astroth, Autodesk chief education officer.

Tuesday, June 15 (evening): I’ll do my (increasingly) regular wrap on the John Batchelor Show at 9:50 p.m. (Pacific Time).

Wednesday, June 16 (“Hotel California”): Due to a birthday in the family, I will not be behind the microphone for the usual 6-10 p.m. stint on the John Batchelor Show.

Thursday, June 17 and Friday, June 18: Off.

Saturday, June 19: I’ll be co-hosting the John Batchelor Show from 6-8 p.m. (PacTime). Check back for the guest list.

Check back for additional shows/airtimes/details.

And, as always, thanks for listening!

More (spirited) radio...

This afternoon, I’ll be on Dave Congalton’s “Big Broadcast” beginning at 4:30 p.m. (PacTime). We’ll discuss the recent poll numbers in the California GOP governor’s race – currently, they show Meg Whitman holding a seemingly unbeatable lead over her opponent, Steve Poizner. We might also get into the local race to fill recently appointed Lt. Gov. Abel Maldonado’s seat in the state senate. If you’re on the Central Coast, you can listen to Dave’s show on KVEC-AM 920 (or anywhere else via KVEC’s website).

The formidable Dave Congalton...

And tomorrow night (Saturday), just after 6 p.m. PacTime, I’ll be joining guest host Simon Constable on the John Batchelor Show. The topic de jour will be the political races in California, with a special focus on the probable Carly Fiorina (R) vs. Barbara Boxer (D) race for the Boxer’s seat in the U.S. senate.

The GOP probables: Meg Whitman (left) and Carly Fiorina...

You can listen to the show at WTTK-FM 96.9 Boston, WABC-AM 77 NY, WMAL-AM 630 Washington, D.C., XM/Sirius Satellite Radio and on more than two dozen other stations (check local listings for details). If you’re not in one of the broadcast areas, you can tune-in via any of those outlets’ websites.

The redoubtable (Simon) Constable...

And as always…thanks for listening...

LATE ADDITION: I just found out that I’ll be on The John Batchelor Show this Sunday evening at approximately 9 p.m. (PacTime) to discuss Tuesday's primary elections, polls and whatnot here in California. In addition to the stations listed above for Saturday night's appearance, you can also hear the show - Sunday thru Friday - in Northern California at KSFO-AM 560 San Francisco.

Saturday night's alright for...radio

Another Saturday night with nothing to do? Then listen in...


Tonight on The John Batchelor Show, beginning at 6:15 p.m. (Pac Time), I’ll join John’s guest host, the redoubtable Simon Constable (a Dow Jones Newswires columnist and host of the News Hub Web Show ), to discuss California politics and Los Angeles’ budget crisis.

You can listen to the show on WTTK-FM 96.9 Boston, WABC-AM 77 NY, WMAL-AM 630 Washington, D.C., XM/Sirius Satellite Radio and on more than two dozen other stations (check local listings for details). If you’re not in one of the broadcast areas, you can tune-in via any of those outlets’ websites.

And as always…thanks for listening.


Simon Constable - taking it to The Street...