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A Dolans.com Blog By Ken Dolan, Daria Dolan, Cindy Butehorn, Sean Q, Zach, The Dolans, Guest Contributor and Ken and Daria Dolan

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Ken and Daria Dolan have hosted their own national radio program for 22 years, anchored their own television shows on CNN, authored six books on money matters, served as money contributors on CBS This Morning and have now launched a comprehensive web site and free e-letter at Dolans.com.


"Friend"-ing Facebook

May 18th is the day that we have personally designated as "Greater Fool Day" as investors scramble to buy shares of Facebook's initial public offering.

How many times have we watched over-hyped new stock offerings fuel a feeding frenzy that ends six months later with underwater investors and diminished asset values? 

Too many times. 

Okay, Dolans. Tell us why you're so down on probably the hottest stock offering since 2004 when Google went public. 

Here's why: First of all...we are not great fans of IPO's, in general.

Secondly...the simple fact is that, at the end of the day, what makes a stock a good investment is earnings, nothing more and nothing less.

And in Facebook's case, LESS is the operative word.

Beyond the news a couple of days ago that GM is ending its ad buys on Facebook because it just isn't paying off, lies a bigger problem for all Facebook advertisers.

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Survey Results: Who will be the next president?


Let's blame unemployment on... the weather?

It's too difficult to blame Friday's jobs number on the Bush administration, so let's blame them on the unusually warm winter we've had.

Forgive me if I vent a bit, but Friday's announcement from the Bureau of Labor Statistics announcing the creation of a mere 115,000 jobs is scary.

However, their further announcement of the unemployment rate dropping to 8.1% is just plain disgusting.

How can such a small number of created jobs LOWER the unemployment rate, you're probably asking?

It's easy when 525,000 red-blooded American workers threw up their hands after months of looking for work and gave up trying!

115,000 jobs is the smallest number since last October.

8.1% unemployment is STILL 2% higher than the past 50 year average.

63.6%...the measure of how many Americans are looking for work, known as the Participation Rate... is at a 30 year low.

14.5% is the real number when you calculate in ALL the unemployed (discouraged or not) and those under-employed who have been forced to take part-time work just to keep food on the table and a roof over their heads.

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Survey Results: How will you spend your tax refund?

We're thrilled that so many of you plan to pay down debt with your tax refund. We have a few other ways you can spend your loot in "Smart Ways to Spend Your Tax Refund."


The REAL War Against Women

Being the distaff member of the Dolan team, I am not going to sit idly or quietly by as a presidential election devolves into a fight over who treats women better.

The latest breathtaking stupidity came in an interview conducted with a so-called public relations person named Hillary Rosen, who had the utter audacity to insinuate that Ann Romney, mother of five, "never worked a day in her life."

As a former stay-at home mother I am offended beyond belief. 

I, too, was a stay-at-home mother from the week before our daughter was born until she reached the age of 12.

Raising just one child was plenty of work for me.  I can't imagine how so many of my sisters handle more children.

Oh, by the way, when I was home being a mom there was also a war on women.  But the war wasn't conducted by the Republican Party, nor was it the Democrats who did battle with me.

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How NOT to Make a Financial Plan

Okay, I’m guilty as charged. 

With all the hype surrounding what ended up being a $640 million Mega Millions lottery drawing I did try to buy the winning ticket.

As the New York State Lottery always said, “All it takes is a dollar and a dream.”

So, off I went with my dollar and my lucky numbers (furnished by the fortune  cookie I had earlier in the week at our favorite Chinese restaurant) to become rich beyond my wildest dreams. 

Talk about a lamb to the slaughter!

I had no idea what I was doing because I never buy lottery tickets.

Living in Florida and knowing that our local Publix supermarket has a service desk that sells lottery tickets, I parked my car and, carrying the lucky numbers and a dollar, walked in and headed right to that desk.

Behind the desk stood a young woman somewhere between the ages of 18 and 22 who could have been the modern day Carrie Nation of, not alcohol, but rather gambling.

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Survey Results: Should Obama tap strategic oil reserves?


Tax Extension for the Unemployed

Times were certainly tough for the millions of Americans who were unemployed in 2011. 

But we have some welcomed good news from the IRS. 

As part of the IRS’ “Fresh Start” initiative, a six month extension has been given for those unemployed for 30 consecutive days in 2011 and for those self-employed who experienced a 25% or greater reduction in business. 

There are exceptions, you can read all the details on the IRS website here.


Survey Results: How high will gas go?

Wow! Only time will tell where gas prices end up this May... but we have 10 ways for you to save on gas anytime of the year:

10 Ways to Save on Gasoline.


What the Greek Tragedy Means for You

 

The eyes of the economic world have been focused on Greece for a few years now.

Amid much head shaking and tongue clucking, the economic “powerhouses,” such as the US, France, Germany and various other members of the International Monetary Fund, have homed in on the problems facing Greece and its overspending.

One and all have called for Greece to continue cutting its budget, to reduce the minimum wages paid, to restructure the Greek national debt and to raise taxes or face economic Armageddon.

How has the Greek population responded to these suggestions?

Buildings have been torched, and thousands and thousands of Greeks have taken to the streets hurling rocks and stones—and in some cases, Molotov cocktails—as they pass by stores now long closed and abandoned.  

Official unemployment in Greece now stands at 21% and yet Greece is still being pushed to cut another 150,000 public-sector jobs over the next few years.

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