Unemployment tops 10 percent in 16 states in June: "WASHINGTON (AP) - The U.S. Labor Department says unemployment topped 10 percent in 16 states last month. The rate in Michigan surpassed 15 percent, the first time any state hit that mark since 1984."
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We are at 9.5% nationally, and headed up. Watch for the federal government to manufacture some positive statistics in order to generate some positive psychology. The stock market is hanging in there, but they always bet on the come.
Saturday, July 18, 2009
Friday, July 17, 2009
White House's $50B foreclosure plan a bust so far - Victoria McGrane - POLITICO.com
White House's $50B foreclosure plan a bust so far - Victoria McGrane - POLITICO.com: "Administration officials blame the mortgage servicers charged with carrying out the mortgage modifications and refinancing under the federal program. Many of their Democratic allies on Capitol Hill back them up, but others are criticizing the White House for fumbling the execution. Whatever the reason, the program hasn’t stopped the rising tide of foreclosures: Experts predict that at least another 2 million homes will be lost this year, and the administration’s plan has so far reached only about 160,000 of the 3 million to 4 million homes it was supposed to protect over the next three years."
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I blame Bush.
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I blame Bush.
Director’s Blog » Blog Archive » The Long-Term Budget Outlook
Director’s Blog » Blog Archive » The Long-Term Budget Outlook: "Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits. Large budget deficits would reduce national saving, leading to more borrowing from abroad and less domestic investment, which in turn would depress economic growth in the United States. Over time, accumulating debt would cause substantial harm to the economy."
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But as VP Biden says, we have to keep spending or we will go bankrupt.
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But as VP Biden says, we have to keep spending or we will go bankrupt.
Housing starts surge 3.6% - Jul. 17, 2009
Housing starts surge 3.6% - Jul. 17, 2009: "NEW YORK (CNNMoney.com) -- Initial construction of U.S. homes and applications for building permits both surged in June, according to government figures released Friday.
Housing starts rose to a seasonally adjusted annual rate of 582,000, up 3.6% from a revised 562,000 in May, according to the Commerce Department.
Economists were expecting housing starts to increase to an annual rate of 524,000 units, according to a consensus estimate gathered by Briefing.com."
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I hope this holds.
Housing starts rose to a seasonally adjusted annual rate of 582,000, up 3.6% from a revised 562,000 in May, according to the Commerce Department.
Economists were expecting housing starts to increase to an annual rate of 524,000 units, according to a consensus estimate gathered by Briefing.com."
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I hope this holds.
San Diego: median home price up in June
Median home price up in June: "San Diego County's median home price rose for the third consecutive month in June, hitting $314,250, the highest figure since October, and raising hopes that the region's slumping housing market may finally be poised for a comeback.
With fewer low-priced foreclosure homes on the market and growing sales of higher-priced properties, the county's median price rose $19,250 from May to June. The 6.5 percent one-month percentage gain was the biggest since MDA DataQuick began keeping records in 1988."
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Good news we can believe in at last?
With fewer low-priced foreclosure homes on the market and growing sales of higher-priced properties, the county's median price rose $19,250 from May to June. The 6.5 percent one-month percentage gain was the biggest since MDA DataQuick began keeping records in 1988."
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Good news we can believe in at last?
Thursday, July 16, 2009
Spend a trillion on health care or go bankrupt
CNSNews.com - Joe Biden: ‘We Have to Go Spend Money to Keep From Going Bankrupt’: "“Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, that's what I’m telling you.”"
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These people seem to have no idea what they are talking about, much less what they are doing.
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These people seem to have no idea what they are talking about, much less what they are doing.
California City News
California City News
Fred Pilot sent me the link to this blog, that is "devoted entirely to local government in California."
Fred Pilot sent me the link to this blog, that is "devoted entirely to local government in California."
YouTube - Rants From Lost Wages by James Alexander
YouTube - Rants From Lost Wages by James Alexander
This is a hilarious rant about HOAs in North Las Vegas. Thanks to James for sending it.
This is a hilarious rant about HOAs in North Las Vegas. Thanks to James for sending it.
Foreclosures at record high in first half 2009 despite aid | Reuters
Foreclosures at record high in first half 2009 despite aid | Reuters: "NEW YORK (Reuters) - U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.
Foreclosure filings jumped to a record 1.9 million on more than 1.5 million properties in the first six months of the year, RealtyTrac said on Thursday.
The number of properties drawing filings, which include notices of default and auctions, jumped 9.0 percent from the second half of 2008 and almost 15 percent from the first half of last year."
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I'm sure this is all Bush's fault.
Foreclosure filings jumped to a record 1.9 million on more than 1.5 million properties in the first six months of the year, RealtyTrac said on Thursday.
The number of properties drawing filings, which include notices of default and auctions, jumped 9.0 percent from the second half of 2008 and almost 15 percent from the first half of last year."
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I'm sure this is all Bush's fault.
Kid Who Beat Cancer May Have to Lose Cross | NBC Miami
Kid Who Beat Cancer May Have to Lose Cross | NBC Miami: "Cancer survivor Taylor Bushing thinks she beat the deadly disease with the help of a cross her mother put on the front of her house.
So you can imagine the 12-year-old's disappointment when her mother's homeowners association told the family to take the cross down because it was in violation of the rules.
At 14.5 inches, the cross is 2.5 inches larger than the Pembroke Falls neighborhood association allows."
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That is the Pembroke Falls HOA, folks. Just when you think you have heard of the stupidest and most heartless thing an HOA or condo association could ever do--such as making a kid in a wheelchair use the service entrance--another association raises the ante by plumbing new depths of idiocy.
Congratulations, Pembroke Falls HOA. You have the title.
I had this sent to me by so many people that I can't thank them all individually, so I'll thank them all collectively--thanks!
So you can imagine the 12-year-old's disappointment when her mother's homeowners association told the family to take the cross down because it was in violation of the rules.
At 14.5 inches, the cross is 2.5 inches larger than the Pembroke Falls neighborhood association allows."
----------------
That is the Pembroke Falls HOA, folks. Just when you think you have heard of the stupidest and most heartless thing an HOA or condo association could ever do--such as making a kid in a wheelchair use the service entrance--another association raises the ante by plumbing new depths of idiocy.
Congratulations, Pembroke Falls HOA. You have the title.
I had this sent to me by so many people that I can't thank them all individually, so I'll thank them all collectively--thanks!
Could we be wrong about global warming? - Science Fair - USATODAY.com
Could we be wrong about global warming? - Science Fair - USATODAY.com: "Could the best climate models -- the ones used to predict global warming -- all be wrong?
Maybe so, says a new study published online today in the journal Nature Geoscience. The report found that only about half of the warming that occurred during a natural climate change 55 million years ago can be explained by excess carbon dioxide in the atmosphere. What caused the remainder of the warming is a mystery."
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How about this sentence: "In a nutshell, theoretical models cannot explain what we observe in the geological record," says oceanographer Gerald Dickens, study co-author and professor of Earth Science at Rice University in Houston. "There appears to be something fundamentally wrong with the way temperature and carbon are linked in climate models."
Maybe so, says a new study published online today in the journal Nature Geoscience. The report found that only about half of the warming that occurred during a natural climate change 55 million years ago can be explained by excess carbon dioxide in the atmosphere. What caused the remainder of the warming is a mystery."
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How about this sentence: "In a nutshell, theoretical models cannot explain what we observe in the geological record," says oceanographer Gerald Dickens, study co-author and professor of Earth Science at Rice University in Houston. "There appears to be something fundamentally wrong with the way temperature and carbon are linked in climate models."
Fed: unemployment will top 10 percent this year - Yahoo! News
Fed: unemployment will top 10 percent this year - Yahoo! News: "WASHINGTON – The Federal Reserve expects the economy this year will sink at a slower pace than it previously thought, but that unemployment will top 10 percent and remain high for the next few years, according to a new forecast released Wednesday."
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Heck of a recovery we have going on here. What is fascinating is the optimism you see in the stock market. Investors are betting on the come. I hope they are right about that.
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Heck of a recovery we have going on here. What is fascinating is the optimism you see in the stock market. Investors are betting on the come. I hope they are right about that.
Wednesday, July 15, 2009
At least they worked through the Home Run Derby
Illinois budget: Gov. Pat Quinn, top lawmakers inch closer to stopgap deal -- chicagotribune.com: "SPRINGFIELD -- With state worker paychecks hanging in the balance, Gov. Pat Quinn and top lawmakers moved closer Tuesday to a stopgap budget agreement that includes billions of dollars in borrowing and pushing off a tax-hike vote to a more politically convenient time.
After several closed-door meetings and brief legislative sessions of the House and Senate, several lawmakers headed 90 miles down the road to St. Louis for baseball's All-Star Game and to see a ceremonial first-pitch delivered by their former colleague, President Barack Obama.
But two weeks into the state's budget year, no deal was reached among leading Democrats, Republicans and Quinn on a spending plan. With Wednesday the first major payday since the July 1 budget deadline, Comptroller Dan Hynes' office said checks to as many as 6,000 of the state's 69,000 workers would not go out."
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It must be nice to ride so high, so far above the peons, that you can waltz off to a baseball game the day before 6000 state employees aren't getting paid. If there is a more miserable excuse for a legislative body in the world, I would like to hear its name.
After several closed-door meetings and brief legislative sessions of the House and Senate, several lawmakers headed 90 miles down the road to St. Louis for baseball's All-Star Game and to see a ceremonial first-pitch delivered by their former colleague, President Barack Obama.
But two weeks into the state's budget year, no deal was reached among leading Democrats, Republicans and Quinn on a spending plan. With Wednesday the first major payday since the July 1 budget deadline, Comptroller Dan Hynes' office said checks to as many as 6,000 of the state's 69,000 workers would not go out."
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It must be nice to ride so high, so far above the peons, that you can waltz off to a baseball game the day before 6000 state employees aren't getting paid. If there is a more miserable excuse for a legislative body in the world, I would like to hear its name.
Clothesline bill hung out to dry : News-Record.com : Greensboro & the Triad's most trusted source for local news and analysis
Clothesline bill hung out to dry : News-Record.com : Greensboro & the Triad's most trusted source for local news and analysis: "Back during crossover (click here), Rep. Pricey Harrison, a Greensboro Democrat, got a little bill (H 1353) through the House that would prohibit cities and counties from adopting blanket prohibitions on clotheslines.
The idea, according to Harrison, is to allow people who want to save energy by hanging out their laundry (rather than use their dryers) even if some folks in the community turn up their nose at the idea. Originally, the bill started out as an effort to keep homeowners associations from adopting restrictive covenants prohibiting clotheslines, but Harrison took that out of the bill after getting a lot of resistance. (Related items here, here and here.)
So the bill came before the Senate Commerce Committee today … and it was doomed."
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So, it is fair game on clotheslines in South Carolina.
The idea, according to Harrison, is to allow people who want to save energy by hanging out their laundry (rather than use their dryers) even if some folks in the community turn up their nose at the idea. Originally, the bill started out as an effort to keep homeowners associations from adopting restrictive covenants prohibiting clotheslines, but Harrison took that out of the bill after getting a lot of resistance. (Related items here, here and here.)
So the bill came before the Senate Commerce Committee today … and it was doomed."
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So, it is fair game on clotheslines in South Carolina.
Peter Singer: Why we must ration health care
Why We Must Ration Health Care - NYTimes.com: "The debate over health care reform in the United States should start from the premise that some form of health care rationing is both inescapable and desirable. Then we can ask, What is the best way to do it?"
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Who is Peter Singer, you may be asking? He is one of the most famous ethicists in the world. His critics say that his views on many issues put him very close to advocating eugenics.
Here are some of his other views:
--all animals capable of suffering like humans should have equal rights with humans, or it is "speciesism"
--it is possible to have mutually satisfying sexual relations between humans and animals
--a fetus is incapable of having preferences, so abortion is morally permissible
--killing a newborn baby is not equivalent to killing a person who has self-consciousness and wants to go on living
And now he is advocating health care rationing, which means that if you are old and sick you will be less likely to get expensive procedures. This is exactly where Obama's health care plan will lead, of course. There is no way to expand coverage and cut costs (or even avoid runaway increases in costs), given the same number of doctors and hospitals, without rationing.
Maybe Obama can make Prof. Singer the Health Care Rationing Czar.
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Who is Peter Singer, you may be asking? He is one of the most famous ethicists in the world. His critics say that his views on many issues put him very close to advocating eugenics.
Here are some of his other views:
--all animals capable of suffering like humans should have equal rights with humans, or it is "speciesism"
--it is possible to have mutually satisfying sexual relations between humans and animals
--a fetus is incapable of having preferences, so abortion is morally permissible
--killing a newborn baby is not equivalent to killing a person who has self-consciousness and wants to go on living
And now he is advocating health care rationing, which means that if you are old and sick you will be less likely to get expensive procedures. This is exactly where Obama's health care plan will lead, of course. There is no way to expand coverage and cut costs (or even avoid runaway increases in costs), given the same number of doctors and hospitals, without rationing.
Maybe Obama can make Prof. Singer the Health Care Rationing Czar.
Glitch hits Visa users with more than $23 quadrillion charge - CNN.com
Glitch hits Visa users with more than $23 quadrillion charge - CNN.com: "NEW YORK (CNN) -- A technical snafu left some Visa prepaid cardholders stunned and horrified Monday to see a $23,148,855,308,184,500 charge on their statements."
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One fellow read the bill and discovered that he had spent the entire sum in one stop at a Mobil gas station. Even a confirmed nicotine addict wouldn't pay $23 quadrillion for a pack of cigarettes--would he?
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One fellow read the bill and discovered that he had spent the entire sum in one stop at a Mobil gas station. Even a confirmed nicotine addict wouldn't pay $23 quadrillion for a pack of cigarettes--would he?
Randy Barnett: Sotomayor doesn't understand fundamental rights incorporation doctrine
The Volokh Conspiracy - -
The Bill of Rights as originally understood only limited the actions of the national government. But the 14th amendment, passed after the Civil War, is aimed directly at the states, and the due process clause of the 14th amendment says that no state can deprive any US citizen of life, liberty, or property without due process of law. The word "liberty" has been given specific meaning by the USSC by "incorporating" into that word certain specific liberties that are in the Bill of Rights. Which ones? The ones that are considered "fundamental."
Sotomayor has this exactly backward. She thinks you define "fundamental" by asking, "is this incorporated?" No. First the court has to decide whether it is fundamental, which is one of these difficult questions of judicial philosophy they are trying to ask her about that she won't answer. Then, if the court decides the right is fundamental, that right is incorporated.
Sotomayor is either ignorant of a basic principle of constitutional law, or she is being evasive.
Randy Barnett is one of the nation's most distinguished constitutional law scholars, and he says this: "This is both a grossly incorrect (and empty) understanding of the doctrine governing the protection of fundamental rights and an inaccurate statement of the precedents concerning the incorporation of the right to keep and bear arms into the Due Process Clause of the Constitution."
This link came from Instpundit
The Bill of Rights as originally understood only limited the actions of the national government. But the 14th amendment, passed after the Civil War, is aimed directly at the states, and the due process clause of the 14th amendment says that no state can deprive any US citizen of life, liberty, or property without due process of law. The word "liberty" has been given specific meaning by the USSC by "incorporating" into that word certain specific liberties that are in the Bill of Rights. Which ones? The ones that are considered "fundamental."
Sotomayor has this exactly backward. She thinks you define "fundamental" by asking, "is this incorporated?" No. First the court has to decide whether it is fundamental, which is one of these difficult questions of judicial philosophy they are trying to ask her about that she won't answer. Then, if the court decides the right is fundamental, that right is incorporated.
Sotomayor is either ignorant of a basic principle of constitutional law, or she is being evasive.
Randy Barnett is one of the nation's most distinguished constitutional law scholars, and he says this: "This is both a grossly incorrect (and empty) understanding of the doctrine governing the protection of fundamental rights and an inaccurate statement of the precedents concerning the incorporation of the right to keep and bear arms into the Due Process Clause of the Constitution."
This link came from Instpundit
Potential Senator from Illinois?
#71: Slime Molds Show Surprising Degree of Intelligence | Animal Intelligence | DISCOVER Magazine: "Single-celled slime molds demonstrate the ability to memorize and anticipate repeated events, a team of Japanese researchers reported in January. The study [pdf] clearly shows “a primitive version of brain function” in an organism with no brain at all."
Leahy explains his "wise Latina" misquote, but the video shows... | Washington Examiner
Leahy explains his "wise Latina" misquote, but the video shows... | Washington Examiner: "After the hearings were over Tuesday, I asked Leahy about the misquote. 'I was doing it from memory,' Leahy explained. 'But I knew that she would -- she stated exactly what she said, and the statement is in the record.' Leahy added that he did not consider Sotomayor's precise words very important; her response, he said, was much more critical.
That's Leahy's explanation. But video of his question is available on YouTube, and it certainly appears that Leahy was reading from a text when he misquoted Sotomayor"
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It seems that after people have been in law and politics for a while they lose any connection with the idea of "the truth" as most people understand it. Instead, they think that any lie they can get away with by any means is morally indistinguishable from the truth. Leahy was lying yesterday about what she said, and now he is lying today about what he did. Yet, he is just as self-righteous as ever.
That's Leahy's explanation. But video of his question is available on YouTube, and it certainly appears that Leahy was reading from a text when he misquoted Sotomayor"
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It seems that after people have been in law and politics for a while they lose any connection with the idea of "the truth" as most people understand it. Instead, they think that any lie they can get away with by any means is morally indistinguishable from the truth. Leahy was lying yesterday about what she said, and now he is lying today about what he did. Yet, he is just as self-righteous as ever.
Your government at work: Ghoulbot on the drawing board
Upcoming Military Robot Could Feed on Dead Bodies - Science News | Science & Technology | Technology News - FOXNews.com: "A Maryland company under contract to the Pentagon is working on a steam-powered robot that would fuel itself by gobbling up whatever organic material it can find — grass, wood, old furniture, even dead bodies."
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Who comes up with these ideas?
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Who comes up with these ideas?
Tuesday, July 14, 2009
FACT CHECK: Don't quote Sotomayor on that, Senator
FACT CHECK: Don't quote Sotomayor on that, Senator: "LEAHY SAID: 'You said that, quote, you 'would hope that a wise Latina woman with the richness of her experiences would reach wise decisions.''
THE FACTS: If that's all Sotomayor said, the quote would barely have mattered to opponents of her nomination. The actual quote, delivered in a 2001 speech to law students at the University of California at Berkeley, was: 'I would hope that a wise Latina woman with the richness of her experiences would more often than not reach a better conclusion than a white male who hasn't lived that life.'"
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This is Senator Patrick Leahy (D--Mars), deliberately misrepresenting what she said, in hopes that the evening news will carry his statement instead of hers, thereby helping to defuse the controversy over her statement, and what it says about her. Everybody who runs his statement would know it is not what she said, but he's hoping they will run it anyway, because these days so many of the media are playing on the Democrat team.
This is what American politics has come to.
THE FACTS: If that's all Sotomayor said, the quote would barely have mattered to opponents of her nomination. The actual quote, delivered in a 2001 speech to law students at the University of California at Berkeley, was: 'I would hope that a wise Latina woman with the richness of her experiences would more often than not reach a better conclusion than a white male who hasn't lived that life.'"
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This is Senator Patrick Leahy (D--Mars), deliberately misrepresenting what she said, in hopes that the evening news will carry his statement instead of hers, thereby helping to defuse the controversy over her statement, and what it says about her. Everybody who runs his statement would know it is not what she said, but he's hoping they will run it anyway, because these days so many of the media are playing on the Democrat team.
This is what American politics has come to.
Obama mulls rental option for some homeowners-sources | Markets | Markets News | Reuters
Obama mulls rental option for some homeowners-sources | Markets | Markets News | Reuters: "NEW YORK, July 14 (Reuters) - U.S. government officials are weighing a plan that would let borrowers who have fallen behind on their mortgage payments avoid eviction by renting their homes instead, sources familiar with the administration's thinking said on Tuesday.
Under one idea being discussed, delinquent homeowners would surrender ownership of their homes but would continue to live in the property for several years, the sources told Reuters.
Officials are also considering whether the government should make mortgage payments on behalf of borrowers who cannot keep up with their home loans, tapping an unused portion of a $50 billion housing aid kitty."
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Under the first plan, I wonder who they would "surrender ownership of their homes" to. Let me see. It wouldn't be...oh, THE FEDERAL GOVERNMENT, would it? Because that would instantly create a gigantic stock of public housing, and we just spent the last two presidential administrations trying to unload that nightmare.
And under the second plan, Uncle Sam just becomes Uncle Sugar.
Under one idea being discussed, delinquent homeowners would surrender ownership of their homes but would continue to live in the property for several years, the sources told Reuters.
Officials are also considering whether the government should make mortgage payments on behalf of borrowers who cannot keep up with their home loans, tapping an unused portion of a $50 billion housing aid kitty."
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Under the first plan, I wonder who they would "surrender ownership of their homes" to. Let me see. It wouldn't be...oh, THE FEDERAL GOVERNMENT, would it? Because that would instantly create a gigantic stock of public housing, and we just spent the last two presidential administrations trying to unload that nightmare.
And under the second plan, Uncle Sam just becomes Uncle Sugar.
Russia says no Iran sanctions for START deal: report | International | Reuters
Russia says no Iran sanctions for START deal: report | International | Reuters: "MOSCOW (Reuters) - Russia will not agree to tougher sanctions against Iran over its nuclear program in exchange for a new nuclear arms cuts deal with Washington, Interfax news agency quoted a foreign ministry source as saying Tuesday.
Last week, U.S. President Barack Obama's nuclear adviser suggested that progress on a U.S.-Russian nuclear arms pact could help persuade Moscow to be more cooperative on Iran."
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Well. That overture certainly worked out beautifully. Not.
Last week, U.S. President Barack Obama's nuclear adviser suggested that progress on a U.S.-Russian nuclear arms pact could help persuade Moscow to be more cooperative on Iran."
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Well. That overture certainly worked out beautifully. Not.
Titusville condo owners face fines for violations | floridatoday.com | FLORIDA TODAY
Titusville condo owners face fines for violations | floridatoday.com | FLORIDA TODAY: "TITUSVILLE — Code violations keep racking up at Bay Towers Apartments, the fire-scarred riverfront complex facing a crippling cash crunch.
Advertisement
The south tower remains condemned after a May 2008 fire. Since Feb. 6, Titusville officials have fined the property’s South Florida owners up to $1,400 per day for damaged elevators, stairwells, plumbing and other problems.
As of today— 159 days later — these ongoing fines total $222,600."
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Another condo complex that so far hasn't been able to deal with a financial crisis.
Advertisement
The south tower remains condemned after a May 2008 fire. Since Feb. 6, Titusville officials have fined the property’s South Florida owners up to $1,400 per day for damaged elevators, stairwells, plumbing and other problems.
As of today— 159 days later — these ongoing fines total $222,600."
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Another condo complex that so far hasn't been able to deal with a financial crisis.
Mounting bills force condo associations into bankruptcy - Business - MiamiHerald.com
Mounting bills force condo associations into bankruptcy - Business - MiamiHerald.com: "At least seven Florida condo associations have filed for bankruptcy since the real estate market took a nose dive -- and there may be more on the way.
For a growing number of strapped condo associations, bankruptcy could be the last defense against their hallways going dark and their spigots running dry."
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And this is only the beginning.
For a growing number of strapped condo associations, bankruptcy could be the last defense against their hallways going dark and their spigots running dry."
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And this is only the beginning.
Lenders abandoning foreclosed properties - JSOnline
Lenders abandoning foreclosed properties - JSOnline: "For years, lenders complained about debtors who left the keys on the kitchen table and skipped town, leaving it to the bank to file for foreclosure and eventually take title by buying it at a sheriff's sale.
The latest twist: Now it's the lenders who are doing the walking, often without telling the borrowers, who may believe erroneously they have already lost title.
'This is just the meanest and nastiest thing (lenders) could do,' said Catherine Doyle, chief staff attorney at the Milwaukee Legal Aid Society. 'Even more profound is the terrible damage to the community. All of us are going to have to bail them out.'"
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Yes, but first you may have to evict the squatters who will take over many of these abandoned properties, and that could prove to be an interesting experience for all concerned.
Thanks to Fred Pilot for another post-apocalyptic link.
The latest twist: Now it's the lenders who are doing the walking, often without telling the borrowers, who may believe erroneously they have already lost title.
'This is just the meanest and nastiest thing (lenders) could do,' said Catherine Doyle, chief staff attorney at the Milwaukee Legal Aid Society. 'Even more profound is the terrible damage to the community. All of us are going to have to bail them out.'"
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Yes, but first you may have to evict the squatters who will take over many of these abandoned properties, and that could prove to be an interesting experience for all concerned.
Thanks to Fred Pilot for another post-apocalyptic link.
But California finished ahead of Kazakhstan!
British analysts rate California as high risk for credit default - Sacramento Business, Housing Market News | Sacramento Bee: "A London financial firm named CMA puts California in dubious company, ranking it ninth in the world among the 10 governmental entities most likely to default on their financial obligations.
California has a 26.75 percent chance of defaulting over five years, according to CMA. The rankings are based on the prices for credit-default swaps, which are insurance-like products that would pay bondholders in the event of a default.
Others on the list include Kazakhstan, Latvia and Iceland, the latter of which essentially went bankrupt last fall in the global financial meltdown."
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Thanks to Fred Pilot for this depressing link.
California has a 26.75 percent chance of defaulting over five years, according to CMA. The rankings are based on the prices for credit-default swaps, which are insurance-like products that would pay bondholders in the event of a default.
Others on the list include Kazakhstan, Latvia and Iceland, the latter of which essentially went bankrupt last fall in the global financial meltdown."
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Thanks to Fred Pilot for this depressing link.
Monday, July 13, 2009
U.S. mulling mortgage aid for unemployed | U.S. | Reuters
U.S. mulling mortgage aid for unemployed | U.S. | Reuters: "NEW YORK/WASHINGTON (Reuters) - President Barack Obama is mulling new ways to delay foreclosure for jobless homeowners who are unable to keep up with monthly payments, an administration official said on Monday.
The official told Reuters it was reasonable for policymakers to consider options for loan forbearance -- allowing borrowers to delay, defer or skip payments -- that are more effective than those currently available in the private sector."
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But if you impair the bank's security, why should they lend in the first place? Are they just supposed to lend money and not get any loan payments? How is that a business model? I realize it sounds great to a socialist, but we are talking about the real world.
The official told Reuters it was reasonable for policymakers to consider options for loan forbearance -- allowing borrowers to delay, defer or skip payments -- that are more effective than those currently available in the private sector."
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But if you impair the bank's security, why should they lend in the first place? Are they just supposed to lend money and not get any loan payments? How is that a business model? I realize it sounds great to a socialist, but we are talking about the real world.
Magazine Ad Revenue Down 21.2 Percent In First Half Of 2009 - mediabistro.com: FishbowlNY
Magazine Ad Revenue Down 21.2 Percent In First Half Of 2009 - mediabistro.com: FishbowlNY: "The Publishers Information Bureau just released its advertising revenue numbers for the first half of 2009, and it's not pretty. Rate-card-reported ad revenue totaled nearly $9.1 billion, down 21.2 percent from the same period last year. Ad pages were also down 27.9 percent, and the impact of the recession was felt across all top 12 ad categories, PIB said."
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This is evidence that the people who sell things are "extremely cautious." The greatest sectoral declines in ad revenue are automotive, finance, and retail. That cuts a pretty big swath.
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This is evidence that the people who sell things are "extremely cautious." The greatest sectoral declines in ad revenue are automotive, finance, and retail. That cuts a pretty big swath.
Gunfire from boat hits home at St. James | StarNewsOnline.com | Star News | Wilmington, NC
Gunfire from boat hits home at St. James | StarNewsOnline.com | Star News | Wilmington, NC: "Residents in the gated town of St. James might have had their feeling of security shaken over the weekend after gunfire struck a waterfront home.
Mayor Shelley Lesher said no one was injured in the shooting. The Brunswick County Sheriff’s Office determined the shots, fired about 3 a.m. Sunday, came from a boat moving along the Intracoastal Waterway."
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This mysterious item was sent along by Cynthia Stephens. What is afoot in St. James?
Mayor Shelley Lesher said no one was injured in the shooting. The Brunswick County Sheriff’s Office determined the shots, fired about 3 a.m. Sunday, came from a boat moving along the Intracoastal Waterway."
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This mysterious item was sent along by Cynthia Stephens. What is afoot in St. James?
Pay us or we'll kill the monkey!
Patrick accuses zoo officials of using scare tactics - The Boston Globe: "Governor Deval Patrick yesterday accused Zoo New England officials of creating a false and inflammatory scare with their warning that state budget cuts may force them to close two Greater Boston zoos and euthanize some animals."
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These agencies are getting creative. Red light cameras, selling off bridges, and now threatening to kill zoo animals. What next?
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These agencies are getting creative. Red light cameras, selling off bridges, and now threatening to kill zoo animals. What next?
The Hill’s Blog Briefing Room » Congressman: Michigan could hit 20% jobless thanks to Obama
The Hill’s Blog Briefing Room » Congressman: Michigan could hit 20% jobless thanks to Obama: "Michigan's unemployment rate could hit as high as 20 percent with the Obama administrationto blame, one Michigan congressman warned Friday.
Rep. Thaddeus McCotter (R-Mich.) said that Michigan's unemployment — already the highest in the country at 14.1 percent — could go even higher as General Motors and Chrysler continue to shed jobs after their government-financed bankruptcies."
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I posted this because it seems impossible that such a thing could happen. But it seemed impossible that Lehman Brothers and Bear Stearns could implode, too.
Rep. Thaddeus McCotter (R-Mich.) said that Michigan's unemployment — already the highest in the country at 14.1 percent — could go even higher as General Motors and Chrysler continue to shed jobs after their government-financed bankruptcies."
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I posted this because it seems impossible that such a thing could happen. But it seemed impossible that Lehman Brothers and Bear Stearns could implode, too.
Sunday, July 12, 2009
Why the Credit Pendulum Is Stuck at 'Stupid' - General * US * News * Story - CNBC.com
Why the Credit Pendulum Is Stuck at 'Stupid' - General * US * News * Story - CNBC.com: "The readiness of banks to sell foreclosed properties has led to rising home sales in some areas. But the traditional housing market, the one that involves willing buyers and sellers, is still dead, with transactions lower than they have been for decades.
The recession is the major reason sales are dragging, of course, but it is not the only one. As Dr. Komarovskaya found, buyers once viewed as perfectly qualified are being denied mortgages."
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The pendulum had better start swinging back pretty soon.
The recession is the major reason sales are dragging, of course, but it is not the only one. As Dr. Komarovskaya found, buyers once viewed as perfectly qualified are being denied mortgages."
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The pendulum had better start swinging back pretty soon.
House Design Fail!
House Design Fail! by
Thanks to Mystery Reader for this link to an intriguing tree placement.
Thanks to Mystery Reader for this link to an intriguing tree placement.
Tiburon may install license plate cameras
Tiburon may install license plate cameras: "The posh and picturesque town that juts into San Francisco Bay is poised to do something unprecedented: use cameras to record the license plate number of every vehicle that crosses city limits."
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Part of the "towns emulating CIDs" trend--here is snooty Tiburon trying to turn itself into a gated community.
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Part of the "towns emulating CIDs" trend--here is snooty Tiburon trying to turn itself into a gated community.
Mortgage defaults spread as even 'safe' borrowers falter - Sacramento News - Local and Breaking Sacramento News | Sacramento Bee
Mortgage defaults spread as even 'safe' borrowers falter - Sacramento News - Local and Breaking Sacramento News | Sacramento Bee: "No longer is the real estate bust simply the result of exotic, subprime loans that doubled payments and blew up in homeowners' faces. As the Sacramento economy buckles, even the safest mortgages have become part of a new wave of loan defaults, experts say."
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Fred Pilot sent this link. Now government employees are in trouble. But Obama says, "The stimulus is working. These are not the droids you are looking for."
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Fred Pilot sent this link. Now government employees are in trouble. But Obama says, "The stimulus is working. These are not the droids you are looking for."
Red-light cameras raking in cash -- chicagotribune.com
Red-light cameras raking in cash -- chicagotribune.com: "Do red-light cameras truly make roads safer, as many towns claim? Or are they merely a high-tech variation on the old moneymaking speed trap?"
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Thanks to Dennis James of Quantum Pork for this link. The data show that this is all about money. The intersections where these camera have been installed have hardly any t-bone collisions, which is the only kind of accident they are supposedly designed to prevent. The fact that the tickets are issued to the vehicle owner rather than the driver is obviously outrageous.
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Thanks to Dennis James of Quantum Pork for this link. The data show that this is all about money. The intersections where these camera have been installed have hardly any t-bone collisions, which is the only kind of accident they are supposedly designed to prevent. The fact that the tickets are issued to the vehicle owner rather than the driver is obviously outrageous.
Saturday, July 11, 2009
BBC World Service - Documentaries - Islands of security
BBC World Service - Documentaries - Islands of security: "Gated communities are a form of living spreading widely in all continents, especially where the difference between rich and poor is greatest, but in South Africa with its history of apartheid and exclusion on racial grounds, the subject of privatisation of space and keeping people out is a particularly sensitive one."
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Friday, July 10, 2009
Brown Manure, Not Green Shoots - Forbes.com
Brown Manure, Not Green Shoots - Forbes.com: "Essentially, the results today suggested that there are not as many green shoots. These green shoots, as I've argued, are mostly yellow weeds that may even turn into brown manure if a double-dip, W-shaped recession occurs in 2010-11...Home prices have already fallen from their peak by about 30%. Based on my analysis, they are going to fall by at least 40% from their peak, and more likely 45%, before they bottom out. They are still falling at an annualized rate of over 18%. That fall of at least 40%-45% percent of home prices from their peak is going to imply that about half of all households that have a mortgage--about 25 million of the 51 million that have mortgages--are going to be underwater with negative equity and will have a significant incentive to walk away from their homes."
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Nouriel Roubini, aka "Dr. Doom," weighs in with a hefty dose of pessimism about the latest economic statistics.
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Nouriel Roubini, aka "Dr. Doom," weighs in with a hefty dose of pessimism about the latest economic statistics.
Thursday, July 09, 2009
Mysterious tremors detected on San Andreas Fault
Mysterious tremors detected on San Andreas Fault: "LOS ANGELES (AP) - Scientists have detected a spike in underground rumblings on a section of California's San Andreas Fault that produced a magnitude-7.8 earthquake in 1857.
What these mysterious vibrations say about future earthquakes is far from certain. But some think the deep tremors suggest underground stress may be building up faster than expected and may indicate an increased risk of a major temblor."
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Oh, sure. That's just great. Now on top of everything else LA is baloney on a cold roll.
What these mysterious vibrations say about future earthquakes is far from certain. But some think the deep tremors suggest underground stress may be building up faster than expected and may indicate an increased risk of a major temblor."
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Oh, sure. That's just great. Now on top of everything else LA is baloney on a cold roll.
HOA Academy registration begins
HOA Academy registration begins: "The homeowners association academy is aimed at those serving as or aspiring to be HOA board members and employees of management companies."
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Fred Pilot sent this, with a note to check the comments--George Staropoli got in a kidney shot.
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Fred Pilot sent this, with a note to check the comments--George Staropoli got in a kidney shot.
The Rental Market Stinks Too - The Atlantic Business Channel
The Rental Market Stinks Too - The Atlantic Business Channel: "The vacancy rate for U.S. apartments hit a 22-year high in the second quarter as rising unemployment reduced demand during what is usually the peak leasing season."
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What next? Hamster and gerbil cage vacancy rates at an all-time high?
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What next? Hamster and gerbil cage vacancy rates at an all-time high?
6,000 Criminals Could Be Released From Stateville Prison In Joliet, Illinois By Governor Pat Quinn - cbs2chicago.com
6,000 Criminals Could Be Released From Stateville Prison In Joliet, Illinois By Governor Pat Quinn - cbs2chicago.com: "CHICAGO (CBS) ― Up to 10,000 convicted criminals could soon be released early from prisons across Illinois. It's all because of the state's budget mess. Gov. Pat Quinn says cutting those prisoners loose could save more than $100 million. But at what cost to you?"
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Is that a rhetorical question?
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Is that a rhetorical question?
USDA to oversee school snack food: Senate ag chair | Health | Reuters
USDA to oversee school snack food: Senate ag chair | Health | Reuters: "WASHINGTON (Reuters) - The U.S. Agriculture Department would be given the power to regulate all food sold in schools -- including vending machine snacks -- when Congress renews child nutrition programs, the chairman of the Senate Agriculture Committee said on Tuesday."
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All food sold in all schools. In the entire USA. Regulated by the federal government.
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All food sold in all schools. In the entire USA. Regulated by the federal government.
Michael Gerson - Obama's Health Reform Ship Flounders - washingtonpost.com
Michael Gerson - Obama's Health Reform Ship Flounders - washingtonpost.com: "Around midnight on April 15, 1912, there were a few minutes when Capt. Edward Smith of the Titanic realized his ship was going down -- six watertight compartments breached, less than two hours to float -- yet his passengers slept in happy ignorance. A historical fate hardened while most of the participants dreamed on.
The jobs report last week opened a long gash beneath the waterline of President Obama's legislative agenda. Few realize it, but a scramble for lifeboats is about to begin."
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This is one of the best leads to a story that I have ever read. I don't know if he is right, but it is a compelling metaphor. How do you top it? Maybe the Hindenburg.
The jobs report last week opened a long gash beneath the waterline of President Obama's legislative agenda. Few realize it, but a scramble for lifeboats is about to begin."
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This is one of the best leads to a story that I have ever read. I don't know if he is right, but it is a compelling metaphor. How do you top it? Maybe the Hindenburg.
The Association Movie
The Association Movie See below--this is Andrew Wahlquist's web site about "The Association."
Danny Pebbles Guide to Association Living
Danny Pebbles Guide to Association Living
Andrew Wahlquist is a Hollywood producer who has a screenplay called "The Association" that he is trying to raise money to produce. I have read it, and it is terrific. But in the meantime, he passed along this link to something that is well worth watching.
Andrew Wahlquist is a Hollywood producer who has a screenplay called "The Association" that he is trying to raise money to produce. I have read it, and it is terrific. But in the meantime, he passed along this link to something that is well worth watching.
Global warming marches on
Chicago has its coolest July 8 in 118 years -- chicagotribune.com: "For the 12th time this meteorological summer (since June 1), daytime highs failed to reach 70 degrees Wednesday. Only one other year in the past half century has hosted so many sub-70-degree days up to this point in a summer season -- 1969, when 14 such days occurred.
Wednesday's paltry 65-degree high at O'Hare International Airport (an early-May-level temperature and a reading 18 degrees below normal) was also the city's coolest July 8 high in 118 years -- since a 61-degree high on the date in 1891."
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Relatively speaking, we are freezing our butts off here.
Wednesday's paltry 65-degree high at O'Hare International Airport (an early-May-level temperature and a reading 18 degrees below normal) was also the city's coolest July 8 high in 118 years -- since a 61-degree high on the date in 1891."
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Relatively speaking, we are freezing our butts off here.
Wednesday, July 08, 2009
10 Things Your Real Estate Broker Won't Say at SmartMoney.com
10 Things Your Real Estate Broker Won't Say at SmartMoney.com
There is a #11, too: "This home is in an HOA."
There is a #11, too: "This home is in an HOA."
The Big Public Pension Squeeze
The Big Public Pension Squeeze: "The cost of public sector pensions is set to soar in coming years because the recent meltdown in the financial markets has worsened the health of systems that were already badly underfunded. Municipal and state governments across the country are struggling with massive budget shortfalls, leaving them in no position to fill the pension gap. As a result, public workers look likely to bear the burden through cutbacks in their salaries and benefits and increases in their pension contributions."
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True, but why did they have to interview Gray Davis?
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True, but why did they have to interview Gray Davis?
Offering a tiny apology | Change of Subject
Offering a tiny apology | Change of Subject: "The question looking forward is what excuse, what explanation, what apology the Democratic Party can offer voters for making such a mess of things yet again, even with the ostensibly rogue ex-governor out of the picture. Democrats asked the voters for power in Illinois. And the majority of voters -- including me, I should say -- said OK. The result reduced legislative Republicans to decorative-plant status. But with this power came full and admittedly awesome responsibility -- to address the impact of the nationwide economic crisis and balance the state budget in a time of declining revenues. This responsibility didn't exactly creep up on the Democrats. We all saw it coming.
What did the Democratic leadership do to address this admittedly knotty problem? They bickered. They hemmed. They hawed. They quailed at making decisions and taking ownership of decisions that will inevitably prove unpopular among some segments of the population. Eventually, they ran out the clock at the end of last month and forced an overtime session."
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This is an amazing confession by the Chicago Tribune's very liberal and ordinarily very partisan columnist, Eric Zorn. He lays the blame for Illinois' political-economic logjam squarely at the feet of the Illinois Democratic Party and particularly their chairman, House speaker Michael Madigan.
What did the Democratic leadership do to address this admittedly knotty problem? They bickered. They hemmed. They hawed. They quailed at making decisions and taking ownership of decisions that will inevitably prove unpopular among some segments of the population. Eventually, they ran out the clock at the end of last month and forced an overtime session."
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This is an amazing confession by the Chicago Tribune's very liberal and ordinarily very partisan columnist, Eric Zorn. He lays the blame for Illinois' political-economic logjam squarely at the feet of the Illinois Democratic Party and particularly their chairman, House speaker Michael Madigan.
President Obama debates himself on another stimulus
Bloomberg.com: Democrats split on stimulus as job losses mount, deficit soars: "President Barack Obama underscored the dilemma by addressing both sides of the argument. In an interview with ABC News yesterday, he said unemployment approaching 10 percent is something “we wrestle with constantly.” He added that spending more borrowed money is “potentially counterproductive.”"
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Stay tuned for the outcome of this debate.
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Stay tuned for the outcome of this debate.
OUC starts shutting down water, power in Veranda Park - OrlandoSentinel.com
OUC starts shutting down water, power in Veranda Park - OrlandoSentinel.com: "At noon today, the Orlando Utilities Commission turned off the water and power for the large fountain at the entrance to the Veranda Park town center in MetroWest Orlando as well as for the outdoor irrigation systems for the 30-acre property off of South Hiawassee Road.
This is the first step in a staggered shutdown of water and power in Veranda Park due to months of unpaid bills for seven Veranda accounts owned or controlled by developer Kevin Azzouz.
The unpaid accounts total more than $378,000 for the struggling project that was to become a second downtown Orlando."
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Thanks to Beth Young for this link. What a horrible situation.
This is the first step in a staggered shutdown of water and power in Veranda Park due to months of unpaid bills for seven Veranda accounts owned or controlled by developer Kevin Azzouz.
The unpaid accounts total more than $378,000 for the struggling project that was to become a second downtown Orlando."
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Thanks to Beth Young for this link. What a horrible situation.
Invasion of the condo squatters
Living with Rules: Community associations confront squatters - South Florida Sun-Sentinel.com: "Has a squatter moved into your community?
That's the case for The Circle Villa Condominium Association in Lauderhill. 'We have at least several unit-owner squatters and one renter squatter,' said Dorine Neal, president of the 96-unit condo association. 'The numbers are growing in this economy.'
As if cash-strapped community associations faced with foreclosures, delinquencies and non-paying owners didn't have enough to deal with, increasingly some are stuck with squatters."
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Foreclosed and abandoned units are being put to use, it seems.
That's the case for The Circle Villa Condominium Association in Lauderhill. 'We have at least several unit-owner squatters and one renter squatter,' said Dorine Neal, president of the 96-unit condo association. 'The numbers are growing in this economy.'
As if cash-strapped community associations faced with foreclosures, delinquencies and non-paying owners didn't have enough to deal with, increasingly some are stuck with squatters."
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Foreclosed and abandoned units are being put to use, it seems.
Residents call for new board amid accusations
Residents call for new board amid accusations: "Residents of the North Sherwood Forest Homeowners Association say some of its board and management have used money given to them for the nearby Intercounty Connector to hire an attorney to enforce alleged property violations. Some residents argue the association is enforcing measures that haven't been addressed due to community apathy.
Last year, the State Highway Administration gave about $520,000 to the HOA after the HOA sold some of its common land to the ICC. Since then, frustrated residents have voiced their concerns about the HOA's lack of regular, open meetings and say the HOA board has spent money without the approval of the entire board. The HOA is overseen by Greenbelt-based Williams Community Management."
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Last year, the State Highway Administration gave about $520,000 to the HOA after the HOA sold some of its common land to the ICC. Since then, frustrated residents have voiced their concerns about the HOA's lack of regular, open meetings and say the HOA board has spent money without the approval of the entire board. The HOA is overseen by Greenbelt-based Williams Community Management."
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Gallup Daily: State of the Nation
Gallup Daily: State of the Nation
This chart shows that dissatisfaction with the state of affairs in the US dropped from around 80% to 60% in the first four months of the Obama administration. People were swept up in the overall sense that "hope and change" were coming. But look what has happened since May. The level of dissatisfaction has gone back up steadily, and is now at 68%. This is not surprising, because unemployment has continued to climb, gas prices have gone back up, the housing market is still in the toilet, state and local budgets are horrifying, and people are worried about government debt and eventual tax increases. In other words, the hopey-changey laughing gas is blowing away in the wind of the recession.
The Democratic Party runs the national government, so it is time for them to show what they have to offer.
This chart shows that dissatisfaction with the state of affairs in the US dropped from around 80% to 60% in the first four months of the Obama administration. People were swept up in the overall sense that "hope and change" were coming. But look what has happened since May. The level of dissatisfaction has gone back up steadily, and is now at 68%. This is not surprising, because unemployment has continued to climb, gas prices have gone back up, the housing market is still in the toilet, state and local budgets are horrifying, and people are worried about government debt and eventual tax increases. In other words, the hopey-changey laughing gas is blowing away in the wind of the recession.
The Democratic Party runs the national government, so it is time for them to show what they have to offer.
No job, no money for Churchill - The Denver Post
No job, no money for Churchill - The Denver Post: "A judge has ruled that the University of Colorado doesn't have to give controversial former professor Ward Churchill his job back, even though a jury found he was improperly fired.
Churchill, who taught ethnic studies at CU's Boulder campus, lost his teaching position after an investigation found he had plagiarized and falsified scholarly work for years."
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While I value academic freedom, it seems to me that Churchill abused his tenured status in every way. He ends up with nothing to show for winning that lawsuit. One dollar from the jury, and nothing from the judge.
Churchill, who taught ethnic studies at CU's Boulder campus, lost his teaching position after an investigation found he had plagiarized and falsified scholarly work for years."
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While I value academic freedom, it seems to me that Churchill abused his tenured status in every way. He ends up with nothing to show for winning that lawsuit. One dollar from the jury, and nothing from the judge.
SCOUTING NY - www.scoutingny.com » The Last Phone Booth In New York City
SCOUTING NY - www.scoutingny.com » The Last Phone Booth In New York City: "There are only four phone booths left in Manhattan - and they’re all on West End Avenue. That’s it: four."
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Where will Superman change clothes now?
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Where will Superman change clothes now?
TheHill.com - Republican report puts blame for housing on Fannie, Freddie
TheHill.com - Republican report puts blame for housing on Fannie, Freddie: "“The housing bubble that burst in 2007 and led to a financial crisis can be traced back to the federal government intervention in the U.S. housing market intended to help provide home ownership opportunities for more Americans,” declares the first sentence of the GOP Oversight and Government Reform report.
The report tries to center debate on government involvement, rather than Wall Street."
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It seems to me that it is hard to separate the respective roles of public policy and private profit-taking in creating the collapse of the housing market. However, there is nothing wrong with the GOP trying to remind people that bad policies played a major role, because since the election all we have been hearing from DC is that corporate greed is the root of all our problems. We have a political economy, not a free market economy.
The report tries to center debate on government involvement, rather than Wall Street."
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It seems to me that it is hard to separate the respective roles of public policy and private profit-taking in creating the collapse of the housing market. However, there is nothing wrong with the GOP trying to remind people that bad policies played a major role, because since the election all we have been hearing from DC is that corporate greed is the root of all our problems. We have a political economy, not a free market economy.
Althouse: Look how silly the Russians made Obama look...
Althouse: Look how silly the Russians made Obama look...
Obama needs to invite the Rooskies to DC so he can get even. Challenge Medvedev to a game of one-on-one basketball, for example.
Obama needs to invite the Rooskies to DC so he can get even. Challenge Medvedev to a game of one-on-one basketball, for example.
Tuesday, July 07, 2009
U.S. mortgage fraud 'rampant' and growing-FBI | Markets | Bonds News | Reuters
U.S. mortgage fraud 'rampant' and growing-FBI | Markets | Bonds News | Reuters: "SAN FRANCISCO, July 7 (Reuters) - U.S. mortgage fraud reports jumped 36 percent last year as desperate homeowners and industry professionals tried to maintain their standard of living from the boom years, the FBI said on Tuesday.
Suspicious activity reports rose to 63,713 in fiscal year 2008, which ended last September, from 46,717 the year before. California and Florida, centers of the housing bust, had the highest numbers of suspicious reports as foreclosures jumped, the stock market dropped and credit dried up."
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If middle class home owners are ever going to organize themselves to influence public policy, this should be the time. If not, there will not be enough meat on their bones to bait a fish hook.
Suspicious activity reports rose to 63,713 in fiscal year 2008, which ended last September, from 46,717 the year before. California and Florida, centers of the housing bust, had the highest numbers of suspicious reports as foreclosures jumped, the stock market dropped and credit dried up."
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If middle class home owners are ever going to organize themselves to influence public policy, this should be the time. If not, there will not be enough meat on their bones to bait a fish hook.
Don't make light of this situation
Strike a light! Do religious zealots get any barmier than this?: "AN Orthodox Jewish couple are suing their neighbours in a block of Bournemouth flats over motion sensors which automatically turn on the lights in the communal hallway."
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Thanks to Mystery Reader for this fascinating link. You see, they aren't supposed to use electricity from Friday night to Saturday night, but the lights are triggered automatically by sensors when they step out their door. Thus, they have to choose between violating their religious tenets and staying indoors.
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Thanks to Mystery Reader for this fascinating link. You see, they aren't supposed to use electricity from Friday night to Saturday night, but the lights are triggered automatically by sensors when they step out their door. Thus, they have to choose between violating their religious tenets and staying indoors.
Private communities present problems for Pa. | PoconoRecord.com
Private communities present problems for Pa. | PoconoRecord.com: "Some Pennsylvania legislators believe some new rules for private communities are needed. Local representatives receive frequent calls from homeowners in private communities, often complaining about association fees and limited services.
While private community homeowners pay state taxes, state grants are not available to residents. Private associations are not eligible to apply for most state grants.
Although Monroe County state Rep. Mario Scavello, R-176, introduced House Bill 1068 this year, which would provide grants and funding for dams that are privately owned. 'These private lakes, God forbid there is a breach, the communities around them are going to have problems,' Scavello said.)
Homeowners in private associations pay municipal property taxes, but no municipal dollars are spent within the gates of a private community.
Another bill introduced by Scavello would allow homeowners in communities to deduct 75 percent of their annual association fees from their state income tax return. This would help offset the 'double taxation' community homeowners say they face."
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Thanks to Cynthia Stephens for this link about some pretty dramatic proposals in PA.
While private community homeowners pay state taxes, state grants are not available to residents. Private associations are not eligible to apply for most state grants.
Although Monroe County state Rep. Mario Scavello, R-176, introduced House Bill 1068 this year, which would provide grants and funding for dams that are privately owned. 'These private lakes, God forbid there is a breach, the communities around them are going to have problems,' Scavello said.)
Homeowners in private associations pay municipal property taxes, but no municipal dollars are spent within the gates of a private community.
Another bill introduced by Scavello would allow homeowners in communities to deduct 75 percent of their annual association fees from their state income tax return. This would help offset the 'double taxation' community homeowners say they face."
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Thanks to Cynthia Stephens for this link about some pretty dramatic proposals in PA.
Property associations struggle as owners miss payments | Jacksonville.com
Property associations struggle as owners miss payments | Jacksonville.com: "With the economy in an extended slump and real estate along with it, there's myriad reasons why a Jacksonville homeowner or condominium owner might not be able to pay his or her property owner's association fees.
People who have always kept up with their bills suddenly find themselves choosing which bills to pay and which to let slip. Homeowners and condominium associations are under the gun, too. They are bound by a residential community's covenants to fulfill their obligations for amenities, maintenance and services in common areas and various other things, and their budgets are designed to raise only what they need."
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We are still on the upswing of this problem.
People who have always kept up with their bills suddenly find themselves choosing which bills to pay and which to let slip. Homeowners and condominium associations are under the gun, too. They are bound by a residential community's covenants to fulfill their obligations for amenities, maintenance and services in common areas and various other things, and their budgets are designed to raise only what they need."
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We are still on the upswing of this problem.
Florida law protects homeowners who put in less-thirsty yards - OrlandoSentinel.com
Florida law protects homeowners who put in less-thirsty yards - OrlandoSentinel.com: "When state Sen. Carey Baker proposed a law encouraging Florida homeowners to get rid of thirsty grass, he had Dorothy Bombera in mind. The Venice retiree has steadily ripped out her lawn, making room for daisies, perennial peanuts, palms and other drought-resistant plants.
But not all of her neighbors found the new scenery attractive, and her homeowners association threatened to fine Bombera if she didn't re-create the old, conventional yard.
Last week, Baker's legislation was signed into law by Gov. Charlie Crist, and Bombera is now off the hook.'They were up to a $480 fine,' Bombera said of the homeowners association. 'I think that passing this was the most wonderful thing.'"
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So common sense prevailed.
But not all of her neighbors found the new scenery attractive, and her homeowners association threatened to fine Bombera if she didn't re-create the old, conventional yard.
Last week, Baker's legislation was signed into law by Gov. Charlie Crist, and Bombera is now off the hook.'They were up to a $480 fine,' Bombera said of the homeowners association. 'I think that passing this was the most wonderful thing.'"
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So common sense prevailed.
Skid row murder-for-hire plot leaves two dead, LAPD says | L.A. Now | Los Angeles Times
Skid row murder-for-hire plot leaves two dead, LAPD says | L.A. Now | Los Angeles Times: "Chow said Lamont Ward, 40, of Inglewood used Flores to hire another man, Richard Luna, to carry out the murder....Ward was arrested July 1 in Inglewood. Police said he was arrested while working as a security guard in an upscale gated community."
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Perhaps somewhat more intensive screening of potential employees is in order.
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Perhaps somewhat more intensive screening of potential employees is in order.
islandpacket.com | Commission OKs plan to get emergency workers into gated communities quickly
islandpacket.com | Commission OKs plan to get emergency workers into gated communities quickly: "New development standards requiring gated communities to install devices that would give ambulances and other emergency vehicles a quick way to open their gates received unanimous approval Monday at a meeting of the Beaufort County Planning Commission.
Gated communities lacking the emergency openers would have to install one within 18 months at their own expense."
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Gated communities lacking the emergency openers would have to install one within 18 months at their own expense."
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Woman Attacked While Emptying Trash in Gated Community - KTLA
Woman Attacked While Emptying Trash in Gated Community - KTLA: "LADERA RANCH - Police are looking for 2 men who attacked and robbed a woman in broad daylight in a gated community in Orange County.
It happened around 10:30 Saturday morning in Covenant Hills."
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Well. That's not the way these places are supposed to operate.
It happened around 10:30 Saturday morning in Covenant Hills."
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Well. That's not the way these places are supposed to operate.
HOA Legi-Slate: New Action Without Meeting Requirements in Effect
HOA Legi-Slate: New Action Without Meeting Requirements in Effect: "On May 14, 2009, Governor Ritter signed into law House Bill 09-1248 (HB 1248) which amends the Revised Colorado Nonprofit Corporation Act (Nonprofit Corporation Act) and addresses in Section 20 the ability and procedures that boards of associations must follow when taking action outside of a board meeting."
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From a blog post by Molly Foley-Healy.
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From a blog post by Molly Foley-Healy.
Florida Land Use Law: 1stDCA Totally Screws Up the Analysis in a Bert Harris Case – [but Probably Reaches the Right Result]
Florida Land Use Law: 1stDCA Totally Screws Up the Analysis in a Bert Harris Case – [but Probably Reaches the Right Result]: "The case involves the City of Jacksonville abandoning a public street to a private homeowner’s association- a process that is not the same as vacating the street. When the street was abandoned, the private HOA refused to allow and adjoining landowner access to it. The result of the HOA’s refusal to permit access was that the landowner was unable to proceed with an 8 lot subdivision of the adjoining land."
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Blog post on an interesting situation.
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Blog post on an interesting situation.
The Hook News Blog » Blog Archive » Comer canned: Homeowners oust missing treasurer
The Hook News Blog » Blog Archive » Comer canned: Homeowners oust missing treasurer: "“The behind-the-scenes view of this is that he staged this thing and ran off,” says Tommy Stafford of Nelson County Life, the first local publication to notice the identity of the missing man. “They can’t be 100 percent sure,” says Stafford, who has conferred with several top law enforcement officers, “but things are certainly looking that way.”
Comer, whose day job is the presidency of Glenmore Country Club and who also represents the developer of the neighborhood of over 700 homes, reportedly went missing shortly after 9:30am Wednesday, July 1. That, according to a press release from the homeowners association, was less than an hour before a meeting with two association board members to discuss “incomplete data made available to the auditor.”"
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Hmmmmm. Let's not jump to any conclusions, but the circumstantial evidence is...interesting.
Comer, whose day job is the presidency of Glenmore Country Club and who also represents the developer of the neighborhood of over 700 homes, reportedly went missing shortly after 9:30am Wednesday, July 1. That, according to a press release from the homeowners association, was less than an hour before a meeting with two association board members to discuss “incomplete data made available to the auditor.”"
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Hmmmmm. Let's not jump to any conclusions, but the circumstantial evidence is...interesting.
Fight for HOA reform continues after bill fails | News 8 | WFAA.com
Fight for HOA reform continues after bill fails | News 8 | WFAA.com: "'The issue isn’t going away,” said Rep. Burt Solomons.
The Carrollton Republican introduced legislation in the last session aimed at reining in HOAs. The bill failed to come up for a vote in the Senate.
“We intend to continue fighting,” he said. “It’s gotten out of control and it’s very hard to rein them in.”... Lawmakers say there are 30,000 homeowners associations in Texas, which has only 5,000 towns.
“You have entities that have more power than any city council,” Scott said. “More power than any city government with no checks, no balances, no accountability, no transparency, no openness.” "
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This is mainly about foreclosure reform, as I understand it, and that is probably going to remain a huge issue in TX and elsewhere for the foreseeable future.
The Carrollton Republican introduced legislation in the last session aimed at reining in HOAs. The bill failed to come up for a vote in the Senate.
“We intend to continue fighting,” he said. “It’s gotten out of control and it’s very hard to rein them in.”... Lawmakers say there are 30,000 homeowners associations in Texas, which has only 5,000 towns.
“You have entities that have more power than any city council,” Scott said. “More power than any city government with no checks, no balances, no accountability, no transparency, no openness.” "
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This is mainly about foreclosure reform, as I understand it, and that is probably going to remain a huge issue in TX and elsewhere for the foreseeable future.
Delinquencies on home-equity loans hit record - Los Angeles Times
Delinquencies on home-equity loans hit record - Los Angeles Times: "Late payments on home-equity loans rose to a record in the first quarter as 18 straight months of job losses and a slumping economy left more borrowers unable to pay their debts, the American Bankers Association reported.
Delinquencies on home-equity loans climbed to 3.52 percent of all accounts from 3.03 percent in the fourth quarter, and late payments on home-equity lines of credit climbed to a record 1.89 percent, the group reported today. An index of eight types of loans rose for a fourth straight quarter, to 3.23 percent from 3.22 percent in October through December, the group said."
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If the employment situation doesn't reverse itself pretty soon, this recession will set all-time records.
Delinquencies on home-equity loans climbed to 3.52 percent of all accounts from 3.03 percent in the fourth quarter, and late payments on home-equity lines of credit climbed to a record 1.89 percent, the group reported today. An index of eight types of loans rose for a fourth straight quarter, to 3.23 percent from 3.22 percent in October through December, the group said."
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If the employment situation doesn't reverse itself pretty soon, this recession will set all-time records.
U.S. Home Prices to Fall Through 2011’s First Quarter, PMI Says - Bloomberg.com
U.S. Home Prices to Fall Through 2011’s First Quarter, PMI Says - Bloomberg.com: "Thirty of the 50 biggest metropolitan areas have at least a 75 percent chance of lower prices through March 31, 2011, Walnut Creek, California-based PMI said in a report today. The decline is likely to spread to “all regions of the nation” from California, Florida, Nevada and Arizona, the states most affected by the housing slump, PMI said.
“The housing market has been hit by a demand shock of high unemployment and a supply shock of distressed foreclosure sales,” LaVaughn Henry, senior economist at PMI, the fourth- largest U.S. mortgage insurer, said in an interview."
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Can anybody say with a straight face that things are getting better?
“The housing market has been hit by a demand shock of high unemployment and a supply shock of distressed foreclosure sales,” LaVaughn Henry, senior economist at PMI, the fourth- largest U.S. mortgage insurer, said in an interview."
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Can anybody say with a straight face that things are getting better?
Big Banks Don't Want California's IOUs - WSJ.com
Big Banks Don't Want California's IOUs - WSJ.com: "A group of the biggest U.S. banks said they would stop accepting California's IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap."
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California funny money becomes basically useless in three days. Apparently some credit unions will keep accepting it, but that won't last.
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California funny money becomes basically useless in three days. Apparently some credit unions will keep accepting it, but that won't last.
Monday, July 06, 2009
Legal Bills Swayed Palin, Official Says - NYTimes.com
Legal Bills Swayed Palin, Official Says - NYTimes.com: "Lt. Gov. Sean Parnell of Alaska said Sunday that Gov. Sarah Palin’s decision to resign was largely prompted by the personal legal costs of the ethics investigations against her."
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Think about that. Palin may have given up her political career, at least for the foreseeable future, because of the costs of legal defense. Now imagine that you are a homeowner in a CID. You have to pay your own lawyer. The association draws on the resources of all the owners. This imbalance in legal representation is one of the main sources of association power.
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Think about that. Palin may have given up her political career, at least for the foreseeable future, because of the costs of legal defense. Now imagine that you are a homeowner in a CID. You have to pay your own lawyer. The association draws on the resources of all the owners. This imbalance in legal representation is one of the main sources of association power.
California’s Nightmare Will Kill Obamanomics: Kevin Hassett - Bloomberg.com
California’s Nightmare Will Kill Obamanomics: Kevin Hassett - Bloomberg.com: "The California morass has Democrats in Washington trembling. The reason is simple. If Obama’s health-care plan passes, then we may well end up paying for it with federal slips of paper worth less than California’s. Obama has bet everything on passing health care this year. The publicity surrounding the California debt fiasco almost assures his resounding defeat."
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California is running on $3 billion worth of IOUs for the month of July alone.
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California is running on $3 billion worth of IOUs for the month of July alone.
Saturday, July 04, 2009
Illinois gets manager licensing
New rule impacts property managers -- chicagotribune.com: "'It is illegal to give somebody a haircut or sell a hot dog without a license, but it is perfectly legal in Illinois to be a community association manager with nothing but a business card,' said industry watcher Evan McKenzie, associate professor of political science at the University of Illinois at Chicago. 'Incompetence is a huge problem, and so is criminal misconduct.'"
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It's about time.
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It's about time.
Thursday, July 02, 2009
Cracked Houses: What the Boom Built - Yahoo! Finance
Cracked Houses: What the Boom Built - Yahoo! Finance: "Because of tumbling real-estate values, those stuck with faulty houses say repairs often cost more than the homes are now worth. Many say they cant refinance their mortgages or sell, and they have no equity to leverage for repairs."
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And so they think their only recourse is to sue the builder. Thanks to Fred Pilot for this link.
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And so they think their only recourse is to sue the builder. Thanks to Fred Pilot for this link.
City of Casselberry backs down
Consumer health: Orlando Sentinel.com: "Populist outrage and plain fairness caused the Casselberry City Commission to ditch a new code requiring trucks with racks for ladders, pipe and other tools of serious work to be parked in garages or carports, which many truck owners did not have. The code had no provision for appeal or grandfathering current residents — stupid.
'Had a packed house at the commissioners' meeting,' reported plumber Mark Long. 'They canceled all enforcement on this code and decided to write a new one letting us park in the driveway if we take everything off the racks. No way this is perfect, but I don't know if we can get any more. I will keep on top of them and rally the troops if needed.' Power to the plumbers!"
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Thanks to Beth Young for the update on this ridiculous idea. Cities need to stop emulating HOAs.
'Had a packed house at the commissioners' meeting,' reported plumber Mark Long. 'They canceled all enforcement on this code and decided to write a new one letting us park in the driveway if we take everything off the racks. No way this is perfect, but I don't know if we can get any more. I will keep on top of them and rally the troops if needed.' Power to the plumbers!"
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Thanks to Beth Young for the update on this ridiculous idea. Cities need to stop emulating HOAs.
BBC - Earth News - Ant mega-colony takes over world
BBC - Earth News - Ant mega-colony takes over world: "A single mega-colony of ants has colonised much of the world, scientists have discovered.
Argentine ants living in vast numbers across Europe, the US and Japan belong to the same inter-related colony, and will refuse to fight one another."
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Not only that, but they all live in condominiums.
Argentine ants living in vast numbers across Europe, the US and Japan belong to the same inter-related colony, and will refuse to fight one another."
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Not only that, but they all live in condominiums.
Population numbers bounce back in cities - USATODAY.com
Population numbers bounce back in cities - USATODAY.com: "The housing crisis and economic downturn that have forced many Americans to stay put are boosting older cities where population had been shrinking or was stagnant, according to Census estimates out Wednesday.
Last year, Los Angeles recorded its biggest annual increase since 2002 and New York its second largest this decade. Chicago, where population had declined for five years this decade, grew by 0.73%.
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The article offers two explanations. The lefty urban planners who think we should all abandon the suburbs and our SUVs for tiny urban condos and walking to work are convinced that this is The Sign that their apocalyptic warnings have been heeded. But the other explanation is :"Cities' rebound may be a result of people not being able to sell their homes or condos or not having jobs to allow them to leave cities."
Can't get out is quite a bit different than can't wait to get in.
Last year, Los Angeles recorded its biggest annual increase since 2002 and New York its second largest this decade. Chicago, where population had declined for five years this decade, grew by 0.73%.
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The article offers two explanations. The lefty urban planners who think we should all abandon the suburbs and our SUVs for tiny urban condos and walking to work are convinced that this is The Sign that their apocalyptic warnings have been heeded. But the other explanation is :"Cities' rebound may be a result of people not being able to sell their homes or condos or not having jobs to allow them to leave cities."
Can't get out is quite a bit different than can't wait to get in.
Stimulus or Not, States Are Cutting Summer School - NYTimes.com
Stimulus or Not, States Are Cutting Summer School - NYTimes.com: "Nearly every school system in Florida has eviscerated or eliminated summer school this year, and officials are reporting sweeping cuts in states from North Carolina and Delaware to California and Washington. The cuts have come as states across the country are struggling to approve budgets, and California’s governor, Arnold Schwarzenegger, declared a fiscal state of emergency on Wednesday...The federal stimulus law is channeling $100 billion to public education, and Education Secretary Arne Duncan has repeatedly urged states and districts to spend part of the money to keep schools open this summer.
But thousands of districts have ignored Mr. Duncan’s urgings."
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That stimulus bill is turning out to be a great deal, isn't it?
But thousands of districts have ignored Mr. Duncan’s urgings."
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That stimulus bill is turning out to be a great deal, isn't it?
Wednesday, July 01, 2009
Commentary: Franken victory is not funny - CNN.com
Commentary: Franken victory is not funny - CNN.com: "The metric system is the kind of thing that you can expect from the 60-vote filibuster-proof majority Democrats now have in the United States Senate."
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Well, I've never thought Franken was funny anyway. But how anybody can think that converting to the metric system is a crazy idea is beyond me. The US, Liberia, and Burma, are the only three nations in the world that don't use the metric system. Does that put us in distinguished company, or something?
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Well, I've never thought Franken was funny anyway. But how anybody can think that converting to the metric system is a crazy idea is beyond me. The US, Liberia, and Burma, are the only three nations in the world that don't use the metric system. Does that put us in distinguished company, or something?
Tuesday, June 30, 2009
GM Seeks Court's OK to Become 'New' Company - Auto - FOXNews.com
GM Seeks Court's OK to Become 'New' Company - Auto - FOXNews.com: "NEW YORK — General Motors Corp., hoping for a quick exit from Chapter 11, on Tuesday will ask a bankruptcy judge to approve its plan to refashion itself as a leaner automaker owned mostly by the government."
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Isn't "leaner" and "owned mostly by the government" an oxymoron?
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Isn't "leaner" and "owned mostly by the government" an oxymoron?
Gloomy U.S. consumers clip housing recovery hopes - Yahoo! Finance
Gloomy U.S. consumers clip housing recovery hopes - Yahoo! Finance: "WASHINGTON (Reuters) - U.S. consumer confidence took an unexpectedly steep slide in June, figures released on Tuesday showed, suggesting the 18-month-long recession had yet to loosen its grip on the economy.
A separate report on April house prices in major cities offered some encouraging signs that the worst of the housing slump may be over, but that was not enough to lift investors' spirits, while another crop of economic data showed business activity in New York City and the Midwest remained weak and retail chains slogged through a rough June.
Billionaire investor George Soros added to the cautionary tone, saying fears of inflation would drive up borrowing costs and choke off growth once financial markets recover."
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The local paper says retailers are writing off any hopes for a good summer season and are dumping recreational gear, with half-off sales and big off-loading to internet overstock sites.
A separate report on April house prices in major cities offered some encouraging signs that the worst of the housing slump may be over, but that was not enough to lift investors' spirits, while another crop of economic data showed business activity in New York City and the Midwest remained weak and retail chains slogged through a rough June.
Billionaire investor George Soros added to the cautionary tone, saying fears of inflation would drive up borrowing costs and choke off growth once financial markets recover."
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The local paper says retailers are writing off any hopes for a good summer season and are dumping recreational gear, with half-off sales and big off-loading to internet overstock sites.
Home price decline flattens out in April - Jun. 30, 2009
Home price decline flattens out in April - Jun. 30, 2009: "Home prices continued to tumble in April, falling 18.1% from a year earlier -- but the change from March narrowed sharply, indicating that housing markets may be starting to turn.
The 20-city slice of the S&P/Case-Shiller Home Price index recorded a drop of 0.6% from March to April, compared with a 2.2% drop in the prior month. The index has declined every month since July 2006."
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It's about time.
The 20-city slice of the S&P/Case-Shiller Home Price index recorded a drop of 0.6% from March to April, compared with a 2.2% drop in the prior month. The index has declined every month since July 2006."
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It's about time.
Queen Michelle the First? - Jeremy D. Mayer - POLITICO.com
Queen Michelle the First? - Jeremy D. Mayer - POLITICO.com: "Michelle Obama wants a bigger role in her husband’s administration, according to The Washington Post. Unlike Laura Bush, who focused on a few peripheral issues, Obama wants a seat at the table when key policies are made.
Obama’s new chief of staff, Susan Sher, is part of the crucial 8:15 a.m. White House staff meeting. The first lady’s team of more than 20 has been told to think “strategically” about how to make her a player on policies she cares about.
This could be a very bad idea."
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I think I saw this movie. It was in all the theaters between January 1993 and January 2001.
Obama’s new chief of staff, Susan Sher, is part of the crucial 8:15 a.m. White House staff meeting. The first lady’s team of more than 20 has been told to think “strategically” about how to make her a player on policies she cares about.
This could be a very bad idea."
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I think I saw this movie. It was in all the theaters between January 1993 and January 2001.
CHA mixed-income building has class clash -- chicagotribune.com
CHA mixed-income building has class clash -- chicagotribune.com: "Low-income apartment dwellers and middle-class condo owners have shared Westhaven Park Tower since the building opened in 2006 -- an innovative setup that the city hoped would unite residents and exemplify Chicago's $1.6 billion overhaul of public housing.
Proximity, however, has not led to harmony.
The most recent skirmish inside the 113-unit midrise on Hermitage Avenue on the West Side concerned building security. Another flare-up centered on the proper use of the lobby: Public housing residents -- who make up a third of the building -- saw it as a place to hang out; condo owners did not.
Kathy Quickery, president of the building's condominium association, put it bluntly in a letter to the CHA last month: 'After living in the building for three years, I consider the project a failure for homeowners.'"
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This is one of the outcomes of the Clinton Administration's housing policy. These mixed-income developments were the result of the HOPE VI program that replaced public housing projects with places like this. Another part of the Clinton-Cisneros housing policy was expanding home ownership to the poor by forcing banks to lend to them. That worked out just about as well as the mixed-income housing concept.
Proximity, however, has not led to harmony.
The most recent skirmish inside the 113-unit midrise on Hermitage Avenue on the West Side concerned building security. Another flare-up centered on the proper use of the lobby: Public housing residents -- who make up a third of the building -- saw it as a place to hang out; condo owners did not.
Kathy Quickery, president of the building's condominium association, put it bluntly in a letter to the CHA last month: 'After living in the building for three years, I consider the project a failure for homeowners.'"
-----------------
This is one of the outcomes of the Clinton Administration's housing policy. These mixed-income developments were the result of the HOPE VI program that replaced public housing projects with places like this. Another part of the Clinton-Cisneros housing policy was expanding home ownership to the poor by forcing banks to lend to them. That worked out just about as well as the mixed-income housing concept.
Sen. Inhofe Calls for Inquiry Into 'Suppressed' Climate Change Report - Political News - FOXNews.com
Sen. Inhofe Calls for Inquiry Into 'Suppressed' Climate Change Report - Political News - FOXNews.com: "The 98-page report, co-authored by EPA analyst Alan Carlin, pushed back on the prospect of regulating gases like carbon dioxide as a way to reduce global warming. Carlin's report argued that the information the EPA was using was out of date, and that even as atmospheric carbon dioxide levels have increased, global temperatures have declined."
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The Obama Administration can't have that report floating around just as they are getting the cap and trade bill passed.
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The Obama Administration can't have that report floating around just as they are getting the cap and trade bill passed.
States brace for shutdowns - Los Angeles Times
States brace for shutdowns - Los Angeles Times: "Indiana is one of five states -- along with Arizona, California, Mississippi and Pennsylvania -- bracing for possible shutdowns this week as time runs out for lawmakers to close billion-dollar gaps in their fiscal 2010 budgets.
Of the 46 states whose fiscal year ends today, 32 did not have budgets passed and approved by their governors as of Monday afternoon, according to the National Conference of State Legislatures.
Although the majority of those are expected to pass eleventh-hour budgets, the fiscal futures of a handful remain uncertain, said Todd Haggerty, an NCSL research analyst."
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Just heard that the Illinois House has come up with a great solution: borrow $2.3 billion. Way to cut that Gordian Knot, guys.
Of the 46 states whose fiscal year ends today, 32 did not have budgets passed and approved by their governors as of Monday afternoon, according to the National Conference of State Legislatures.
Although the majority of those are expected to pass eleventh-hour budgets, the fiscal futures of a handful remain uncertain, said Todd Haggerty, an NCSL research analyst."
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Just heard that the Illinois House has come up with a great solution: borrow $2.3 billion. Way to cut that Gordian Knot, guys.
Monday, June 29, 2009
Indiana Governor Warns Government Shutdown Possible
Indiana Governor Warns Government Shutdown Possible: "Gov. Mitch Daniels has said he was prepared to keep essential services such as public safety running if lawmakers do not pass a budget by midnight June 30, but warned that most of state government would shut down.
Daniels said he would use emergency powers to keep state police and prisons operating, and public assistance - including unemployment insurance - would keep being distributed to those already eligible. The Indiana National Guard, state Department of Homeland Security and health officials would be available on standby.
But he said state parks would not be open and Bureau of Motor Vehicle branches and other state offices would close, as would casinos and the lottery because they are regulated by the state. Most of the state's 30,900 employees would be furloughed."
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Thanks to Fred Pilot for this barely pre-apocalyptic announcement.
Daniels said he would use emergency powers to keep state police and prisons operating, and public assistance - including unemployment insurance - would keep being distributed to those already eligible. The Indiana National Guard, state Department of Homeland Security and health officials would be available on standby.
But he said state parks would not be open and Bureau of Motor Vehicle branches and other state offices would close, as would casinos and the lottery because they are regulated by the state. Most of the state's 30,900 employees would be furloughed."
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Thanks to Fred Pilot for this barely pre-apocalyptic announcement.
Congressional Budget Office: Debt Tsunami
The Debt Tsunami - washingtonpost.com: "To put it bluntly, the fiscal policy of the United States is unsustainable. Debt is growing faster than gross domestic product. Under the CBO's most realistic scenario, the publicly held debt of the U.S. government will reach 82 percent of GDP by 2019 -- roughly double what it was in 2008. By 2026, spiraling interest payments would push the debt above its all-time peak (set just after World War II) of 113 percent of GDP. It would reach 200 percent of GDP in 2038.
This huge mass of debt, which would stifle economic growth and reduce the American standard of living, can be avoided only through spending cuts, tax increases or some combination of the two. And the longer government waits to get its financial house in order, the more it will cost to do so, the CBO says."
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There is no way the national government will reach those debt levels, which are not only unsustainable but impossible, because at that point nobody will buy our bonds. Long before the federal government hits that level, our creditors--including the Chinese--will have forced the US government into virtual receivership and will be dictating our policies, on pain of no more lending.
And a government that out of control will cripple the economy. If we get this cap and trade policy, along with national health insurance, energy prices and tax rates will go so high that this recession will never end. The state and local governments are raising taxes already, and soon the higher federal taxes will suck up even more private revenues.
This huge mass of debt, which would stifle economic growth and reduce the American standard of living, can be avoided only through spending cuts, tax increases or some combination of the two. And the longer government waits to get its financial house in order, the more it will cost to do so, the CBO says."
--------------
There is no way the national government will reach those debt levels, which are not only unsustainable but impossible, because at that point nobody will buy our bonds. Long before the federal government hits that level, our creditors--including the Chinese--will have forced the US government into virtual receivership and will be dictating our policies, on pain of no more lending.
And a government that out of control will cripple the economy. If we get this cap and trade policy, along with national health insurance, energy prices and tax rates will go so high that this recession will never end. The state and local governments are raising taxes already, and soon the higher federal taxes will suck up even more private revenues.
Condo association president gets 2 years for embezzling $530,000 | prosecutors, kontos, association, laser, condominium - News - OCRegister.com
Condo association president gets 2 years for embezzling $530,000 | prosecutors, kontos, association, laser, condominium - News - OCRegister.com: "SANTA ANA – The former head of a Newport Beach condominium association was sentenced to two years in prison Friday in a case involving embezzling more than $530,000 and shining laser beams into cockpits of police helicopters, county prosecutors said."
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Thanks to Shu Bartholomew for this insight into the life of a busy guy.
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Thanks to Shu Bartholomew for this insight into the life of a busy guy.
Clotheslines blow through culture again | Richmond Times-Dispatch
Clotheslines blow through culture again | Richmond Times-Dispatch: "Planned communities and condos frequently have covenants that ban or restrict the use of clotheslines. In the Richmond area, restrictions vary -- from all-out prohibition, as in Charles Glen in Henrico County, to restricted use, as in Chesterfield County's venerable Woodlake and Brandermill subdivisions.
'We do allow portable devices [drying racks], just not permanent ones,' said Brian Hoyle, community-standards manager for Woodlake, where racks must be brought inside once the laundry is dry.
With more than 300,000 community associations across the country, promoting clothesline use has been an uphill task for Alexander Lee, founder of the nonprofit Project Laundry List, which he started 11 years ago as a Middlebury College student."
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Using coercion to enforce bonehead stereotypes about what is bad for property values--your HOA in action.
'We do allow portable devices [drying racks], just not permanent ones,' said Brian Hoyle, community-standards manager for Woodlake, where racks must be brought inside once the laundry is dry.
With more than 300,000 community associations across the country, promoting clothesline use has been an uphill task for Alexander Lee, founder of the nonprofit Project Laundry List, which he started 11 years ago as a Middlebury College student."
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Using coercion to enforce bonehead stereotypes about what is bad for property values--your HOA in action.
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