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San Diego Green New Deal, Democrats Endorse Gloria For Mayor, Preparing For Recession

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San Diego Congressman Scott Peters says he doesn’t like the “Green New Deal” but believes Congress needs to take action to protect the environment. Also, a local group is out to prove that the “Green New Deal” is attainable by reaching zero emissions locally, San Diego County’s Democractic Party has endorsed Assemblymember Todd Gloria for San Diego mayor, advice on how to prepare your finances for a recession, and the Euphoria Brass Band brings its West Coast second line jazz to KPBS.

Show transcript

Speaker 1: 00:00 You may have noticed an increased focus here on KPBS on covering the threat climate change poses and to tell stories about how it's affecting us here in San Diego. We continue that today on the KPBS climate change desk environment reporter Eric Anderson talks with San Diego Congressman Scott Peters, who is the only democratic representative in the county who says he is not supporting the green new deal. Here's that interview.

Speaker 2: 00:26 We're speaking with Congressman Scott Peters here at the KPBS studios. Uh, you have a position on the green new deal. What is it? I don't think it's the, I don't think it's bold and I don't think its action. Look, I totally support the enthusiasm that it's brought. I'm really happy to see that, um, voters appear to be interested in what I've been interested in for 20 years, which is climate action and they're taking votes based on that. Uh, but the green new deal, um, is not bold and that, um, it doesn't bring anybody else in it. Um, it is the easiest thing in the world to go talk to a bunch of people you agree with and give a fiery speech. The hard thing is to go to the middle of the room, find people that maybe you don't agree with, uh, and get them to, to work with you on solutions and action means bringing Republicans to the table.

Speaker 2: 01:11 The problem with a green new deal is what two is. One is it's just basically there's no legislation in it. You have to follow up with legislation to actually implement it, but to, it contained some things in there that I just don't agree with like guaranteed jobs from the federal government and a free college. We could talk about those separately, but it, it tends to push people away from the issue where we really need people to come together to get to, to um, net zero by mid century. Okay. You've come together with your climate playbook. Right. Um, explain to me what that is and how that works rather than looking for something divisive. We, we decided to look for all of the solutions that are out there already. I mean the, the big difference is not that this election brought awareness on climate. It brought Democrats into the majority and a lot of us had been working on these things, haven't been able to get them to the house floor because leadership wouldn't let us let us do that.

Speaker 2: 01:58 Uh, so we're looking at what we can do. We've already agreed on bringing, uh, bringing United States back into the Paris agreement. What can we do on d decarbonizing electricity industry, um, manufacturing or agriculture, uh, transportation. What, what can, where can we agree on things like adaptation? What are we going to do about the effects? We know will come from climate change already and many of these bills that are out there already are bi-partisan and we can get them passed. I think one thing people need to realize is that, you know, the green new deal [inaudible] is not any of those actual steps. Um, if you pass the green new deal today, you'd have to take these actions tomorrow that I'm already onto that. A lot of the bills in your climate playbook actually referenced the green new deal. We want, what we wanted to show was that if you wanted to implement the, the green new deal, uh, you wanted to achieve those goals.

Speaker 2: 02:46 We all, we all agree we need to get to, um, a net zero carbon emissions by mid century. You need to take the steps we've outlined in the green new deal. Now we're going further and we're trying to prioritize those things. What would make the biggest difference? And we're continuing to work, uh, to find out what would really help us come together and save the planet. But the notion that we are able to snap our fingers and get through this, um, is really misguided. I think what had made progress so far in that climate playbook, we passed HR nine, which is an effort to get the United States back into the Paris agreement, uh, which every other country in the world is part of, which is the notion of we're all gonna come together and solve the climate crisis together. We've asked in HR nine for president Trump to um, to give us his plan if he doesn't like the plans that were out there before we passed nine of the bills and the climate playbook through my committee, the Energy and Commerce Committee in the house.

Speaker 2: 03:36 Uh, those go to the House floor and we're working on bipartisan approaches, um, for new bills, whether it's on methane capture or, uh, treatment for tax treatment for, um, new baseload energies like hydro-power or geothermal. Um, and for accounting better for extreme weather that comes from, uh, climate change. We've actually passed the bill on that, uh, through the house and into the Senate. Talk to me about your district. How is your district going to be affected as the climate changes? Uh, back in 2010, I was chair of the climate initiative for the San Diego Foundation and one of the things we did was we funded research on that very question. There's three main effects in San Diego County. One is sea level rise, one is more, um, intense wildfires, which we've seen I think over over the past decade or so. And one is water supply issues throughout the state. California is going to be faced with water supply issues. Um, those are all effects of climate change that will be, felt be felt here in San Diego. Congressman Peters, thanks for your time. Appreciate it. Thanks very much.

Speaker 1: 04:33 Joining me is KPBS environment reporter Eric Anderson. Eric, welcome. Thank you. Congressman Peters told you he's busy writing up legislation on climate change issues, but in this congress, what's the likelihood of getting them passed and signed into law?

Speaker 3: 04:50 Ah, well that's a very good question and it's not that he's writing all these bells. These bills are all being put together by different members of Congress and he's kind of collecting them into this climate playbook that he has. Uh, the chances of getting them through congress. He talked about HR nine, which was the bill for the United States to reenter the Paris climate accord. Uh, our recommendation that the United States do that it will never see the light of day in the Senate. Mitch McConnell will never let it get to the floor for a vote there. And that legislation, if by some freak accident got to the Senate and approved, would not be approved by president Trump. So, uh, I think there's recognition even with him that, that many of these efforts that he's putting forward are sort of laying the groundwork for the future. And he's hopeful that, uh, you know, once some of these obstacles, uh, if these obstacles get removed, the house and the Democrats will be in a position to act on climate change.

Speaker 1: 05:47 Now, your interview with Congressman Peter is his only one in a series of conversations you're having about climate change in San Diego. Why are you beginning these climate conversations?

Speaker 3: 05:57 Sure. This is something that we've been doing all year, uh, this year, and it's a, an attempt to kind of, uh, make climate change, which is this big, far reaching global complex issue, uh, break it down into chunks that are a little bit more manageable to understand. We did a story earlier this year in imperial beach and some of the struggles that low lying community has with rising sea levels. Uh, we're in the process of doing a story with the, uh, airport authority, uh, where they're looking at how sea level rise might impact, uh, the airport, which also sets a little bit low. Uh, right next to San Diego Bay. Uh, we've looked at, uh, how the ice caps, um, uh, on Greenland and in the Antarctic might have an impact on sea levels here. Talk to a couple of, uh, uh, researchers at scripts about that. Um, and, and the idea of these stories and, and we'll continue to do these moving forward. The idea of these stories is just to kind of pick an issue and look at how that manifests itself here in San Diego County and how real world impacts have real world effects on people.

Speaker 1: 07:07 It's you, you, you look at climate change that occurs sometimes very far from San Diego and find out how we can wind up hurting us or changing our condition here. Can you give us an example?

Speaker 3: 07:18 Oh, sure. One of the things that, uh, we looked at earlier this year was a, how quickly the ice is melting in the Antarctic. And the Arctic has this huge reservoir of ice on land. As it melts that water goes into the ocean and it pushes up sea levels, uh, here in San Diego. And it could excel. If it melts rapidly, it could accelerate, uh, that sea level rise rapidly and that has real world impacts all along the coast and San Diego County. That's something that people are going to be dealing with. Um, the big question in many of these, uh, climate change issues is not what is going to happen, but when is it going to happen? And that's really the difficult thing to pin down. Uh, because as I've, uh, learned from speaking to some of the researchers at scripts, the outcomes are, are hard to define. The timelines are hard to define because, uh, humans still have an opportunity to effect, uh, what the end result will be. And so it depends on what we do, uh, as people, uh, and affecting our own environment.

Speaker 1: 08:22 And it's not just people who live near the coast too, who have to be concerned about the changing climate. Let's consider perhaps what it means to buy a house and live in El Cahone as the climate changes. That's the kind of information that you're following, isn't it?

Speaker 3: 08:37 Sure. Yeah. And you look at alcohol and it's a great example of a place where heat will become an issue. As the climate's temperature, the average temperature warms, it'll get hotter for longer periods of time. And El Cahone Santi, some of those east county neighborhoods are our communities are places where the housing is a little bit more affordable. But then when you look at it, uh, with the impacts of hotter conditions, maybe the utility bills don't make that housing as affordable cause you have to spend much more to keep your house cool because the condition outside is hotter. And then, you know, if you have people that are living on fixed incomes who are senior citizens, uh, heat is a big threat health wise. That's a public health problem. Uh, in an area like that,

Speaker 1: 09:24 your stories are also part of a larger effort called the KPBS climate change desk. Why such an emphasis on this subject now?

Speaker 3: 09:34 I think the big key is that we are beginning to see the impact of climate change. We've, uh, been talking about this issue for many years. Uh, but there are real tangible things happening now that are linked directly to climate change. Wildfires is another big issue for us here in southern California. Um, wildfires are bigger. They're more intense, they're more destructive. And that's happening because the climate temperature is going up. So we want to be able to make the connection between what's happening on the ground, uh, what's happening in our communities, what's happening in our, our counties and what's happening with our lives.

Speaker 1: 10:17 Well, we will be looking forward to your next story. I've been speaking with KPBS environment reporter Eric Anderson. Eric, thank you. My pleasure. KPBS is preparing a week long series of special reports on climate change. San Diego's climate crisis begins Monday, September 16th on KPBS radio, TV, and on our website.

Speaker 4: 10:38 Okay.

Speaker 1: 00:00 As legislators work on climate change in Washington. San Diego is working on its own version of the green new deal. A speaker series on it continues tonight, sponsored by the San Diego climate action campaign as part of the KPBS climate change desk. Round table host, mark Sauers spoke with climate action campaign director Nicole carpets. Here's that interview.

Speaker 2: 00:22 All right. Start by reminding us please what the Democrats green new deal is and explain the San Diego version.

Speaker 1: 00:27 Yeah, well it's a comprehensive investment in what they call the three pillars, climate, jobs, and justice. So to make sure that we are building out a clean energy economy, that we are protecting current workers. So there's a just transition and we're creating middle-class jobs as we build out clean energy region wide and that we're investing first in the communities that are most impacted by climate change. They're the ones where they've been burdened by the polluting infrastructure for so long and it's time for us to put solutions into those communities first.

Speaker 2: 00:55 All right. And the San Diego version, you're going for a more regional version here than San Diego city.

Speaker 1: 01:00 Exactly. Well, our model of change is that change happens from the ground up. So we want to prove the green new deal model at a local level and then hopefully persuade more cities across the country in states that yeah, this is really the approach we want to take as we're transitioning away from fossil fuels. So we've been very active in developing climate action plans throughout our regions. So the good news is the momentum is already there and people are eager and willing to move on climate here in San Diego and we want to build on that and actually go farther to actually zero out our emissions to go carbon neutral, which no one has done in our region before. And this is going to be an enormous task, but that's exactly why we thought, hey, let's take advantage of the national conversation on green new deal. Prove the model here and let's figure out how can we get to zero carbon emissions here written to have everybody win at the same time.

Speaker 2: 01:48 All right, now let's get onto the San Diego Green new deal speaker series. What's the goal behind that?

Speaker 1: 01:53 So the speaker series is meant to augment the effort that we're already engaged in. So we already have a very organic community driven process to design and develop our local green new deal because again, change happens from the bottom up. We need as many can engage community members as we can get and decision makers. And so we've convened a number of organizing sessions and we've had incredible turnout from very diverse sectors all over our region. So they've actually gotten to the point where they're about ready to launch, you know, what would the parameters and pillars be of our San Diego renew deal. And so the speaker series is meant to just offer another opportunity for people to learn to engage and hopefully to plug into this effort because it's going to take all of us working together to get to zero emissions.

Speaker 2: 02:36 Okay. And tell us about a tonight's events specifically where, when, how do you get the tickets and the speaker?

Speaker 1: 02:42 Well, every speaker series is actually at the same place that hopefully makes it a little bit easier. It's at the city heights center and on university avenue it's going to start at five 30 and folks can just come to the door and we have a requested charge. But we, you know, again, the goal is to bring in as many people as possible to learn. And so tonight we're fortunate to have asanas. Grotta, the new executive director of SANDAG tell us about his visionary transformative outlined four radically changing transportation options in our region. So we're excited that more of the community can come and learn about what he has planned

Speaker 2: 03:17 and his themes. We'll be talking about more biking, walking, transit, get out of cars.

Speaker 1: 03:21 It's the only way that we'll ever meet, not only stay climate goals, but again, national and international climate goals is if we finally provide families in San Diego with options outside of the car.

Speaker 2: 03:32 And uh, how big a part of it is changing how we get from point a to B. I mean, this transportation is a huge part of the greenhouse,

Speaker 1: 03:39 the biggest part of the problem in California and in San Diego. So we've kind of done a lot of incredible work toward getting us to 100% renewable energy. So that has a really clear pathway forward and you know, embracing community choice. So you know, we have choice as well. But cracking the nut of housing and transportation and jobs and getting all of those three things close together is tough. You know, we're talking about changing culture, we're talking about changing the way we've traditionally done things in terms of how we move people around and how we grow because we need to grow in not out. Um, we need to grow up and frankly we need to help people re-imagine what's possible. I mean, that's what, that's what's most exciting, I think to us that we could become a world class city that offers these different options. And it's great for clean air. It's great for public health. And I think people are going to be really excited about, wait, I don't have to own a car. Wait, I could, you know, just hop on a bus or hop on a trolley or an Hassan's vision, a high speed rail train. There's going to be mobility centers, yes. That are connecting, I can pedestrian opportunities and new technologies. So it's a really exciting time and hopefully more and more the community can learn about it. And tonight is one of those great opportunities.

Speaker 2: 04:48 Well and tell us about the rest of the series. Who are the other speakers and some of their topics?

Speaker 1: 04:52 So we are going to have next month a mayor Catherine and Blake spirits anitas really dive into the question of housing and transportation and especially in kind of those coastal, more suburban communities that are resistant. And she really has been the leader in those tough communities having that hard conversation about, yeah, we're going to have to do things differently folks. But he, she has a really pragmatic approach. So she's going to be talking to us about that. We're going to have mayor Serge Medina from imperial beach. He's on the front lines of the sea level rise impacts. Uh, so he's gonna talk to us about adaptation and what does it mean as our whole coastline changes. And then we're going to have a city of San Diego Council, President, Georgette Gomez. Remind us of the need again to emphasize and prioritize social equity. That there are communities who've been on the front lines of the pollution and they deserve to not only drive the conversation forward about what the solutions to be but also benefit from the opportunities of a clean energy economy.

Speaker 2: 05:47 We just heard on mid day and interview with Congressman Scott Peters, he talks about why he's the only local democratic representative to not sign on to the national green new. He said

Speaker 1: 05:58 he's not in favor of it because it doesn't bring Republicans to the table. No actual legislation in it gets into areas not directly involved with climate change. What's your reaction to Peter's position? I mean I think we're never going to give up on him. We are creating a movement and we are getting as many members of the communities involved and you know, we want to persuade him that actually this is one of the most exciting opportunities that presents itself not only locally or regionally or even statewide, but nationally and so I think we're going to get them there. I think he's actually going to become a green, new deal champion. Maybe we just can continue to educate him about what the possibilities are and why it be missed opportunity for him. And let's be honest about where the Republicans are at. Like there, there's no legislation that's going to be able to be put forward that's going to pass.

Speaker 1: 06:42 So that's not really, I think where we want to be right now. Let's build a movement, let's like capture the excitement and the engagement of the community and give them something to dream about, to hope for, to, you know, envision success. And I feel like he can sense our excitement and energy, like what's possible that maybe he could see like this is worth, it's worth getting on this train. All right. I've been speaking with Nicole Capra, it's founder and director of the San Diego climate action campaign. Thanks Nicole. Thank you. And details about tonight's talk and the rest of the speaker series can be found@climateactioncampaigndotorgslashspeakerseriesoratkpbs.org

Speaker 3: 07:27 [inaudible].

Speaker 1: 00:00 A final decision from voters is more than a year away for San Diego's next mayor, but assemblyman Todd Gloria is already receiving some high profile endorsements this week. The county Democratic Party voted to endorse Gloria over council woman, Barbara, Bree, and social justice activists. Tashia Williamson KPBS Metro reporter Andrew Bowen has been reporting on this race and joins us with more. Andrew, welcome. Thanks Jane. So break it down for us. How did the vote go down earlier this week? Was it a contentious process going into it? It hasn't been the ugliest of races at this point in the race. All the main candidates are democrats, so they're really not light years apart on the various issues that are relevant to the city. But it was clear from the beginning that councilwoman Barbara Brie definitely had an uphill battle with this endorsement. Gloria was already endorsed by several elected officials, including state lawmakers, Governor Gavin Newsome, a lot of key local labor unions.

Speaker 1: 00:56 And so Bree had to have known going into this, that this was the likelier outcome, that the party would choose. Gloria over her. I spoke with the party chair, will Rodriguez Kennedy, and he said that he was actually surprised by the speed with which the Democratic Party's central committee actually came to this decision and the relative unanimity. So 71% of the voting members voted to endorse Gloria. And so he said, uh, he thought that the, that the party leaders were further apart on this issue, but the vote was in fact quite overwhelming. And is it unusual for the county democratic party to endorse a mayoral candidate and months before the primary like this, it's hard to compare with the most recent may oral race. That was in 2016 and at that time there was no major candidate, the Democratic candidate in the race until three months before we were actually voting.

Speaker 1: 01:44 So brie and Gloria have been in this race since January. We'll Rodriguez Kennedy, the party chair that I spoke with said he made clear this is not, he didn't want to call this an early endorsement, but let's also acknowledge the primary in 2020 is earlier this year. It's in March. Whereas last time around, it was in June. So we're six and a half, about six and a half months away from the race at this point. Take that for what you will, I guess. Right. And as you said, Gloria has already wrapped up a number of endorsements from high profile Democrats. What's the significance of winning the counties party's endorsement? The county party has a symbolic significance. So many voters are probably not paying very close attention to the race. And when they see that the party has picked their candidate, they may be more likely to just follow what the party is recommending.

Speaker 1: 02:30 A, the bigger boost I would say is financial. So being endorsed by the county party gives Gloria and edge in fundraising. He can go to the fundraisers and say, I'm the party's preferred candidate. And also the party can spend money on Gloria's behalf through a, what they call member communications. These are usually mailers that they send to a registered Democrats and they can, you know, basically look the same as the mailers that Gloria his own campaign is, is sending out. Um, but not having to communicate with registered Democrats, uh, allows the Gloria's campaign to then focus on perhaps reaching out to independence or even Republicans or other constituencies. Are there stark differences between the Democrats and the mayor's race? You know, what are they saying they would do for San Diego? Gloria has definitely made building more housing, a central issue in his campaign. Also improving public transit and addressing homelessness.

Speaker 1: 03:24 There was a forum that they held recently in one policy point that he said was he wants to make the mayor's office responsible for homeless programs in the city rather than the housing commission, which is currently, uh, a, the organization that's running those programs. He thinks that would provide more direct in greater accountability to the, to the mayor, uh, him or herself. Uh, Bree has been talking about some of those same issues, but on somewhat different terms. Just today she called for a ticket forgiveness program for people who have been living in their cars. So she wants to kind of provide some relief. It's also perhaps worth noting that she did vote for the ordinance that made it illegal again for people to live in cars. Um, she's also made scooters part of her campaign. She said she wants a moratorium on electric or a ductless scooters and she's kind of a forced Gloria to explain his position on that.

Speaker 1: 04:15 And one thing that is very notable is she's really attacking the [inaudible] movement. This is the yes, in my backyard is sort of, um, a group that wants to build more housing, both affordable and market rate housing. And Gloria has really embraced that movement. The UMB Democratic Club has endorsed Gloria, so that's kind of a distinction as well. And now that the Democrats have made an endorsement, what about the Republicans? Are there any signs someone may enter the race? Yeah, it's getting later and later each day. And there's still no major republican or independent in the race of the two names that get thrown around. Most often perhaps are, uh, two city council members, Mark Kersey and Scott Sherman Kersey earlier this year, uh, left the Republican Party and became an independent. So that could play in his favor perhaps, or it could also complicate, uh, some of the support that he would otherwise get from the party faithful.

Speaker 1: 05:07 Uh, Scott Sherman has said in the past that he's really done with politics after his two city council terms. So, um, you know, that would be a question he might have to answer. If, if he was really sincere about that, um, then why would he be running for mayor? But yeah, we're still waiting for someone else to enter the race. So if no republican actually jumps in, how do you think that'll shape the race between Todd, Gloria and Barbara? Yeah, it'll be interesting to see where they positioned themselves. So, um, Bree could certainly, uh, courts the conservative, uh, interest groups like the Chamber of Commerce at the Lincoln Club. They typically spend a lot of money through a independent expenditure committees or super packs and a Republicans and conservatives could also just decide to stay out of the mayor's race and perhaps just focus more on other priorities next election year. Like the county board of supervisors. I've been speaking with Andrew Bowen, KPBS Metro reporter Andrew, thanks so much. Thanks, jade.

Speaker 1: 00:00 Well, the weather forecast looks great. The economic forecast, not so much from tariffs and trade wars to a soft housing market. Indicators are leaning toward a recession and with inflated housing costs, Californians could be hit hard. So is there anything we can do to prepare our wallets and investments? Paul Lim is a financial planner and advisor with the San Diego Financial Literacy Center. He says, yes there is. Paul, thanks so much for joining us. Thank you for having me. Okay, so give us the bad news first. What are economists worried about and why?

Speaker 2: 00:35 Well, economists will use a number of indicators such as lower auto sales or fewer freight shipments in order to gauge the overall health of the economy. But what they're most concerned about right now is this thing called the inverted yield curve. And what that means is that short term debt is paying you a higher interest rate than longterm debt, which seems strange because if you buy a bond that pays you back in 10 years, you would expect to be paid a higher interest rate than a bond that pays you back in two years because you gotta be compensated for that additional time during which your money's inaccessible. And so when that relationship flips around, some people think that it means that people are pessimistic about the future. And it's something that always seems to happen like two years or so before a recession. And so economists note that correlation and they're kind of concerned about it. Um, I should mention that there are really good economic numbers like unemployment and GDP growth that tell a bit of a different story.

Speaker 1: 01:36 Oh, so with so much uncertainty, how should people organize their finances?

Speaker 2: 01:40 Well, one of the really nice parts about the financial planning profession is that we take uncertainty as a given. And so planning for the future, knowing that you need to have a backup plan for every eventuality is a part of the process. From the very start. So when it comes to risk management, it could be something as simple as having an emergency fund in the bank or owning the right kinds of insurance policies. Or it could be as complex as working with a business attorney to protect your company from unforeseen risks. And then when it relates to investments, we utilize the diversified portfolio and what that means you, you own a little bit of every single asset category so that you can capture market gains no matter where they happen, and then spread out your risk when the trend turns the other way.

Speaker 1: 02:28 Hmm. Now what about those big life decisions like marriage, Babies College, uh, or even buying a house or car? Should people hurry up and make those purchases and those decisions or, hold on.

Speaker 2: 02:41 But I would say the one thing they all have in common is the financial readiness aspect of things. And what I mean by that is that you've already put in good habits in advance whereby you're spending a lot less than what you're earning so that you have an extra amount of income with to maybe cover a larger mortgage payment, pay for property taxes, put a down payment so that you can get more favorable loan terms. So it's all about the prep work that you do in advance before entering into any one of those commitments. So I think you should do an assessment to figure out if you're financially ready to handle those things. How would interest rates be impacted, uh, in an economic downturn? Well, you know, one of the things they say about interest rates is that, uh, our central bank, the Federal Reserve will basically cut interest rates when the economy is having a tough time.

Speaker 2: 03:33 So they say it's like pumping the gas or they'll say they raise interest rates when the economy is doing really well. It's like applying the brakes if we want to use that sort of analogy. And when it comes to future forecasts, people are saying that they might cut interest rates again perhaps at the end of this year in order to, uh, make it a little bit easier for consumers to borrow money. Because when the interest rates go down, it means that the number one borrower on the planet with the best credit in the world, which is the u s government, is suddenly paying less for all the debt that they borrow. And so that affects every other interest rate on earth because everybody has to fall in line to that hierarchy. So similarly, if all of a sudden the u s government were to pay an extra percent for all of the debt that it borrows, or you can't see anybody borrow money for less than that interest rate.

Speaker 2: 04:26 So they all have to adjust accordingly. And so that relationship is important. It's so newsworthy because the most credit worthy borrower on the planet and the rate that they pay affects all other borrowers on earth. And so if you see a cut in interest rates, you might anticipate the stock market rising and seeing some better deals on home loans and things of that nature. If you see higher interest rates going up, well you can still be happy cause it might mean that you can earn better amounts in a savings account or with insurance products. So it goes both ways. All right. So tell me about the retirement portfolio. Should people, uh, leave it alone, withdraw their money, move it around? I mean, what do people need to deal with those? Yup. So step one would be to own the diversified portfolio and you do that by completing a risk quiz or an online assessment and that will guide you to tell you how much of a percent you should have in each asset category.

Speaker 2: 05:21 And then you'll create the portfolio that way in accordance with a model or a template, many of which are available online. Uh, if you already own the diversified portfolio, you could make some small adjustments throughout the year in a process called out rebalancing. And what that means that every 90 days or so different portions of your portfolio are going to change their overall percentage because they're going to perform differently relative to each other over time and so what you do is you'll sell off parts of the funds that overperformed and now comprise a larger percentage and then you're going to buy the funds that underperformed in order to bring yourself back to that original percentage mix and that might seem strange at first to sell off the funds that did well and buy the ones that underperformed, but that process will force you to always buy low and sell high and it takes all the guesswork out of what you have to do in adjusting your portfolio. All right. We started with the bad news, but the good news is that today, right this minute, the economy is good and that gives people time to plan, correct? Absolutely. There is no better time to plan for the future than today. I've been speaking with Paul Lim, a financial planner and advisor with the San Diego Financial Literacy Center. Paul, thanks so much for your advice. Thank you for having me.

Speaker 3: 06:41 [inaudible].

Speaker 1: 00:00 If you've ever been to New Orleans, you've probably witnessed the brazee by you. Sound of bands marching down cobblestone streets to celebrate the life and homegoing of someone beloved. Well today, instead of the cobblestone streets, we're bringing in the New Orleans tradition to you from the KPBS studio. After seven consecutive nominations, they've recently won San Diego Music Award for best jazz euphoria. Brass band is here to share their special brand of funky west coast. Second Vine Jazz. Here they are with their song. Rosarito bus stop.

Speaker 2: 00:37 [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible] [inaudible].

Speaker 1: 06:48 Wow, thanks. That was euphoria. Brass band performing Rosarito bus stop. Euphoria. Brass band is j p Ball Ma on the baritone in Alto Sax. Drew Miller on the bass drum, Ron Bocce and on the snare drums. Steve Ebner on the trumpet. April west on the trombone. David Jackson on the tenor sax and Wayne Rice on the sousaphone. Welcome you guys [inaudible] page. I appreciate it. Now drew, how did you Foria brass band to begin?

Speaker 3: 07:15 Well, yeah, I have this long running show on jazzy 88.3 ksds uh, New Orleans radio show close to 20 years. Now. This gentleman here, Ron Potion had come west Post-katrina. He was living in New Orleans for about 19 years and maybe it's better off to let him tell you a little bit about what happened.

Speaker 1: 07:31 So I'm driving down the coast somewhere in Carl's bed and rebirth brass band is on the radio. I forgot for a moment I was in Carlsbad. It was just such a good feeling. I just, I got Drew's email, I hit him up right away and I said, let's get together, cause I got a lot of music. I'd love to share it with you from New Orleans. So we got together, had coffee and right at the end I said, man, I'd love to start a brass band out here. Andrew's like, I'll be your face. And on her man. I got this. So for people who don't know what is a second blind parade,

Speaker 3: 08:02 second line really comes originally from the jazz funeral tradition where the social aid and pleasure clubs, uh, formed early on. I'm talking late 18 hundreds to take care of their, their folk. You know, if someone was sick, they would pay their dues and that money would go towards helping this person with my hospital bills, medical bills, and then when someone would pass away when they die, uh, these funds again would be used for a celebration of life for the deceased. And so the second line, essentially in a jazz funeral procession, you have your first line, which is of course the deceased in the, in the casket, perhaps driven by a horse drawn carriage and the family members. So there's your first line right behind the family is the brass band and everyone else that friends and, and uh, uh, folks who knew the deceased and they make their way in a somber way playing, uh, the bands playing a dirge, something very spiritual, slow and, and mournful to the grave side.

Speaker 3: 08:58 They go through the process of laying the body to rest. They start their way back now from the grave side and folks come off as stoops off their front porches, out of their homes and anybody and everybody can jump into this second line parade that has now begun and they're stopping at watering holes, maybe some favorite bars of the person who had passed away. Now you see second lines going on every Sunday. It doesn't have to be tied to a funeral. They're doing it as community for getting folks to come together and enjoy life and the better things that are are in this, this crazy life that we lead. Any reason for a parade day. Arbor Day. Let's do it. Yeah, that's right. [inaudible] second line. Come on. So brass bands get involved and they start these uh, these wonderful precessions that could go on for four hours and stop at bars along the way and they get back into the streets and the people coming from everywhere to get involved in these things. Man, that's super cool. Brass band. Thank you so much. Thank you so much. Appreciate it. And you can catch the euphoria at brass band every Sunday at the Pendry hotel or on our website, kpbs.org

Speaker 2: 10:09 [inaudible].

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KPBS Midday Edition

KPBS Midday Edition is a daily talk show hosted by Maureen Cavanaugh and Jade Hindmon, keeping San Diegans in the know on everything from politics to the arts.