The times they are a'changing - even though I was in the audience at PPAC the other night to see Cheech & Chong - and so some of the old thinking may no longer pass muster. For example:

Mortgage debt is good debt.

That's old thinking. Perhaps there is no such thing as "good debt." The new standard may well be to plan for a debt-free retirement.

Nuclear proliferation is bad.

Nuclear weapons are inherently defensive. Some argue that having them makes irresponsible governments act more responsibly. You need to hope this is true, because nuclear proliferation cannot be stopped. Save for your kids' college now.

If you're doing that at the expense of your retirement fund, you may be going in the wrong direction. The new thinking is to maximize your retirement fund contributions, because there are a lot of ways to get money for college. There are no scholarships or loans for retirement.

Climate change will be catastrophic.

The thing to remember here is that climate change is making cold places warmer, not hot places hotter. That means the earth overall should be more fertile and the growing seasons longer. That, in turn, helps prevent global cooling, which humans don't cause.

Create a rainy day fund.

If it's not invested, and not accessible, what good is it? If you're running up your credit card bills while extra money just sits somewhere, that's foolish. Having some reserve is good, but having six months of living expenses in unrealisitic.

Homeownership is better.

Everybody is taking another look at this one. Owning a home means taking on a huge financial risk, with no guarantee you'll have a sale-able asset in the end. Owning instead of renting encourages longer commutes to work and dimishes your mobility in seeking work. One study reportedly says it even makes you fat and unhappy. Maybe the new American Dream is living where you can afford to with a maximum number of options.

Asset allocation.

I just heard this from a consultant: The percentage in your portfolio of investment in equities should equal your age. That may now be too conservative. The biggest problem here is that we are living longer, so our nest eggs need to continue to grow. Detroit can't compete.

We are still making good cars that the world wants. The carmakers' problems are too much debt, high health-care costs and pension liabilities - all of which can be remedied. And they are going about that task now, albeit not for the best of reasons.

So, there's some food for thought.

These aren't my ideas. of course. I gleaned them from a Newsweek article by Jacob Weisberg, editor and chief of The Slate Group and author of "The Bush Tragedy," and from an article by Globe correspondent Dave Copeland.

Thanks for the cuddlers

Thanks to Girl Scout Troop 873 for 29 teddy bears for Bears on Board.

And to whomever dropped off another one anonymously.

They go to Bears on Board, a program of the Attleboro Area Council for Children. The bears - new, please - are given to police officers, firefighters and ambulance crews to give to children in crises.

Our teddy bear total to date is 5,426.

See you next week.

ORESTE P. D'ARCONTE