Camden, NJ, Closing Library System
And that includes getting rid of all the books, which would be a fire hazard in the buildings they are going to close.
Friday, August 06, 2010
Thursday, August 05, 2010
Friday's Jobs Report: Outlook Darkens for Economy, Obama - Yahoo! Finance
Friday's Jobs Report: Outlook Darkens for Economy, Obama - Yahoo! Finance
Net of inventory adjustments, the economy demand for goods and services
is growing at only 1.3 percent a year.
In the second quarter, consumer spending; investment in new structures,
equipment and software; and government purchases added 4.1 percent to
demand-but as imports grew much more rapidly than exports, the trade
deficit tapped off 2.8 percent.
The difference, 1.3 percent, is annual growth in demand for U.S.-made
goods and services. That has been the pace since recovery began in July
2009.
Businesses can accommodate up to 2 percent growth in demand by improving productivity and not adding workers. Unless the rapid growth in imports can be curbed, the U.S. economy is headed for very slow growth and rising unemployment.
---------
A driver of deflation is excess capacity in the economy and too few dollars
changing hands too slowly to absorb it. The tepid 1.3 percent rate of growth in demand shows the economy is at risk for deflation at worst and slowly slogging along for several years at best -- the price of recovery from the horrible hangover from the mortgage industry/Wall Street blowout of the 2000's.
Net of inventory adjustments, the economy demand for goods and services
is growing at only 1.3 percent a year.
In the second quarter, consumer spending; investment in new structures,
equipment and software; and government purchases added 4.1 percent to
demand-but as imports grew much more rapidly than exports, the trade
deficit tapped off 2.8 percent.
The difference, 1.3 percent, is annual growth in demand for U.S.-made
goods and services. That has been the pace since recovery began in July
2009.
Businesses can accommodate up to 2 percent growth in demand by improving productivity and not adding workers. Unless the rapid growth in imports can be curbed, the U.S. economy is headed for very slow growth and rising unemployment.
---------
A driver of deflation is excess capacity in the economy and too few dollars
changing hands too slowly to absorb it. The tepid 1.3 percent rate of growth in demand shows the economy is at risk for deflation at worst and slowly slogging along for several years at best -- the price of recovery from the horrible hangover from the mortgage industry/Wall Street blowout of the 2000's.
City bond rating downgraded :: CHICAGO SUN-TIMES :: City Hall
City bond rating downgraded :: CHICAGO SUN-TIMES :: City Hall
It's only the third largest city in the US. Nothing to see here. Move along.
It's only the third largest city in the US. Nothing to see here. Move along.
An August Surprise from Obama? | Analysis & Opinion |
An August Surprise from Obama? | Analysis & Opinion |
Speculation based on rumors that Obama is going to order Fannie and Freddie to forgive a ton of mortgage debt for people who are underwater on their mortgages. This would be aimed at influencing the election in November, of course. The date to watch is August 17, says the author of the post (he's Reuters' Money and Politics columnist, James Pethokoukis). The Democrats are absolutely desperate so this would not surprise me, and besides--Obama learned his politics in Chicago, and that's the way government works here.
Speculation based on rumors that Obama is going to order Fannie and Freddie to forgive a ton of mortgage debt for people who are underwater on their mortgages. This would be aimed at influencing the election in November, of course. The date to watch is August 17, says the author of the post (he's Reuters' Money and Politics columnist, James Pethokoukis). The Democrats are absolutely desperate so this would not surprise me, and besides--Obama learned his politics in Chicago, and that's the way government works here.
California consumers carry massive debt loads into bankruptcy | California Watch
California consumers carry massive debt loads into bankruptcy | California Watch
Fred Pilot says that if you look at this map you will see where the heaviest debt loads are: Privatopia. All the Sun Belt states where people have been buying into gated communities and condos.
Fred Pilot says that if you look at this map you will see where the heaviest debt loads are: Privatopia. All the Sun Belt states where people have been buying into gated communities and condos.
Wednesday, August 04, 2010
Study: Cut in delta water use needed for fish
Study: Cut in delta water use needed for fish: "The amount of water pumped out of the Sacramento-San Joaquin River Delta would have to be cut in half if vulnerable fish populations are going to be preserved for future generations, a state report declared Tuesday."
------------
The Central Valley of California, one of the nation's most productive agricultural areas, is covered with brown fields because a judge in the delta smelt case ordered the water flow from the delta reduced. That massive litigation continues. Meanwhile, here is the state water board saying it is necessary to cut the flow by half, permanently.
I think water wars are going to be front and center in US and international politics for a long time, and what is happening right now in California is part of the front line.
------------
The Central Valley of California, one of the nation's most productive agricultural areas, is covered with brown fields because a judge in the delta smelt case ordered the water flow from the delta reduced. That massive litigation continues. Meanwhile, here is the state water board saying it is necessary to cut the flow by half, permanently.
I think water wars are going to be front and center in US and international politics for a long time, and what is happening right now in California is part of the front line.
Tuesday, August 03, 2010
Record number of Illinois families on food stamps - chicagotribune.com
Record number of Illinois families on food stamps - chicagotribune.com: "CHAMPAIGN, Ill. — More Illinois families are receiving food stamps than ever before as a result of the deepest recession in decades, state officials said Monday.
More than 780,000 Illinois families got food stamps in June, up 11.9 percent from a year earlier, the Illinois Department of Human Services reported. Nationally, 40 million Americans -- 18.7 million households -- use food stamps."
------------------
And because the state legislature hasn't even started to get realistic about cutting the budget, the fact is that this state's economy will continue to get worse for at least another two years.
More than 780,000 Illinois families got food stamps in June, up 11.9 percent from a year earlier, the Illinois Department of Human Services reported. Nationally, 40 million Americans -- 18.7 million households -- use food stamps."
------------------
And because the state legislature hasn't even started to get realistic about cutting the budget, the fact is that this state's economy will continue to get worse for at least another two years.
Interactive map of unemployment since 2007
multimediafinal
This is why the Democrats are panic stricken about the November elections.
This is why the Democrats are panic stricken about the November elections.
Monday, August 02, 2010
Forget What We Said About Inflation, Say Big Investors -- It's DEFLATION You Should Be Worried About
Forget What We Said About Inflation, Say Big Investors -- It's DEFLATION You Should Be Worried About
Over the past six months, the smart money has gone from trying to cash in on the coming hyper-inflation the US will suffer as the Fed desperately tries to re-inflate the economy and destroys the dollar in the process...to reversing course and trying to cash in on a coming deflation.
For example, here's PIMCO guru Bill Gross in the Wall Street Journal:
"Deflation isn't just a topic of intellectual curiosity, it's happening," says Mr. Gross, who runs the $239 billion mutual fund Pimco Total Return Fund, citing an annualized 0.1% decline over the past two years in the U.S. consumer-price index. "It's an uncertain world that's tipping toward deflation."
-----
This article shows sophisticated investors with no experience with deflation and who worried about inflation their entire lives are having trouble wrapping their minds around the notion that prices can also enter a downward as well as an upward spiral. Federal Reserve policymakers have also been grappling with the depressing prospect of deflation. Their challenge is like that of pilot trying to precisely determine how much throttle to give a plane on the verge of stalling -- which is where the economy is now. Too little and the aircraft stalls and begins falling to the ground. Too much throttle and the engine races out of control, overheating the economy and setting the stage for another crash.
Over the past six months, the smart money has gone from trying to cash in on the coming hyper-inflation the US will suffer as the Fed desperately tries to re-inflate the economy and destroys the dollar in the process...to reversing course and trying to cash in on a coming deflation.
For example, here's PIMCO guru Bill Gross in the Wall Street Journal:
"Deflation isn't just a topic of intellectual curiosity, it's happening," says Mr. Gross, who runs the $239 billion mutual fund Pimco Total Return Fund, citing an annualized 0.1% decline over the past two years in the U.S. consumer-price index. "It's an uncertain world that's tipping toward deflation."
-----
This article shows sophisticated investors with no experience with deflation and who worried about inflation their entire lives are having trouble wrapping their minds around the notion that prices can also enter a downward as well as an upward spiral. Federal Reserve policymakers have also been grappling with the depressing prospect of deflation. Their challenge is like that of pilot trying to precisely determine how much throttle to give a plane on the verge of stalling -- which is where the economy is now. Too little and the aircraft stalls and begins falling to the ground. Too much throttle and the engine races out of control, overheating the economy and setting the stage for another crash.
AP analysis: US economic stress heads back up
AP analysis: US economic stress heads back up
After easing for four months, the nation's economic stress worsened in June because more bankruptcies in the West and foreclosures outside the Sun Belt outweighed lower unemployment, according to The Associated Press' monthly analysis of conditions around the country.
After easing for four months, the nation's economic stress worsened in June because more bankruptcies in the West and foreclosures outside the Sun Belt outweighed lower unemployment, according to The Associated Press' monthly analysis of conditions around the country.
The setback halted a drop in month-to-month stress readings that had begun in February. In May, economic stress had declined from the previous month in 33 states. And in April, stress fell in every state but two.
But in June, bankruptcy rates rose in Utah, California, Colorado and Idaho. Higher foreclosures spread to the Midwest, particularly Illinois. This occurred even as foreclosures eased in states that have suffered most from the housing bust, such as Arizona, California, Florida and Nevada.
--------------
It's an economically stressful summer in Privatopia -- the states where the misery index is highest.
A Camry or a Condo?
Condos that cost less than cars
The housing bust has taken down the national median home price by about 23% since 2007, according to the National Association of Realtors (NAR). But condo have fallen even further, down about 25%.
This tends to happen in a down real estate market. Condos end up going for about the same as a vehicle.
The housing bust has taken down the national median home price by about 23% since 2007, according to the National Association of Realtors (NAR). But condo have fallen even further, down about 25%.
In Sacramento, Calif., condo prices have fallen 59% from what they averaged in 2007, according to NAR. Miami condo prices have plunged 65%, and in Las Vegas they are off 66%.
Prices of individual units are down even more. One condo in Deerfield Beach, Fla., that sold for $115,000 five years ago now lists for $25,000. That's a drop of nearly 80%.
Much of these price drops can be attributed to over development during the boom. Much of that came in Sand State markets such as Las Vegas Miami and Phoenix, where prices for all properties are have fallen precipitously.
-----------This tends to happen in a down real estate market. Condos end up going for about the same as a vehicle.
Sunday, August 01, 2010
Have jobs become a leading indicator?
Have jobs become a leading indicator?
"Employment typically lags the business cycle, but that doesn't have to be the case," said Karen Dynan, a former Federal Reserve economist now at the Brookings Institution. "The loss of momentum in labor markets in recent months was one of the signals that we weren't entering a self-sustaining recovery."
-----------
Employment is classically a lagging indicator of improved economic activity. But it can also be a leading indicator of continued economic weakness and a W shaped recovery as this article posits.
"Employment typically lags the business cycle, but that doesn't have to be the case," said Karen Dynan, a former Federal Reserve economist now at the Brookings Institution. "The loss of momentum in labor markets in recent months was one of the signals that we weren't entering a self-sustaining recovery."
-----------
Employment is classically a lagging indicator of improved economic activity. But it can also be a leading indicator of continued economic weakness and a W shaped recovery as this article posits.
Layoffs to gut East St. Louis police force
Layoffs to gut East St. Louis police forceGang activity. Drug dealing. Cold-blooded killing. Tracy worries that a decision to shrink the police force by almost 30 percent will bring more of everything.
The pastor voiced his concern on Friday at a raucous special City Council meeting at which East St. Louis Mayor Alvin Parks announced that the city will layoff 37 employees, including 19 of its 62 police officers, 11 firefighters, four public works employees, and three administrators. The layoffs take effect on Sunday.
---------------
East St. Louis is a high-crime city to begin with. laying off 1/3 of the police force is the last thing they need. I notice they only got rid of three administrators.
The pastor voiced his concern on Friday at a raucous special City Council meeting at which East St. Louis Mayor Alvin Parks announced that the city will layoff 37 employees, including 19 of its 62 police officers, 11 firefighters, four public works employees, and three administrators. The layoffs take effect on Sunday.
---------------
East St. Louis is a high-crime city to begin with. laying off 1/3 of the police force is the last thing they need. I notice they only got rid of three administrators.
So long, middle class - NYPOST.com
So long, middle class - NYPOST.com: "Compared to the rest of the world, American workers are extremely expensive, and the government keeps passing rules, regulations and taxes that make it even more difficult to conduct business here. What has developed is a situation where the people at the top are doing quite well, while the average family barely gets by. Entitlement programs are expanding at unprecedented rates, but it is the people in the middle — who shoulder the costs of these programs, while their salaries stagnate — who are being squeezed in a sea of depressing statistics."
---------------------
No kidding--and I get the feeling that a whole lot of these middle class folks understand that they have a big bulls-eye on their chest.
---------------------
No kidding--and I get the feeling that a whole lot of these middle class folks understand that they have a big bulls-eye on their chest.
New playground rules: No lone adults - Miami Beach - MiamiHerald.com
New playground rules: No lone adults - Miami Beach - MiamiHerald.com: "Beginning Sunday, anyone 18 or older could face a fine -- or at least get shooed away by police -- if found in a Miami Beach playground without a child.
Intended to protect children from predatory adults, the new rule is part of a national trend -- a municipal corollary to kids-required policies for grown-ups at children's museums."
-----------------
Interesting--the article goes on the say that New York City and San Francisco have laws like this already. Hard to see why San Francisco would bother. There are hardly any children there to protect. It's basically just the homeless and the yuppies and their dogs. All the kids seem to be in the Exploratorium, but I saw plenty of "unaccompanied" adults there...very suspicious.
Intended to protect children from predatory adults, the new rule is part of a national trend -- a municipal corollary to kids-required policies for grown-ups at children's museums."
-----------------
Interesting--the article goes on the say that New York City and San Francisco have laws like this already. Hard to see why San Francisco would bother. There are hardly any children there to protect. It's basically just the homeless and the yuppies and their dogs. All the kids seem to be in the Exploratorium, but I saw plenty of "unaccompanied" adults there...very suspicious.
Saturday, July 31, 2010
Upscale community may hire coyote trapper | Weird news stories, bizarre news, strange but true stories: Bizarre Florida | tampabay.com & St. Petersburg Times
Upscale community may hire coyote trapper | Weird news stories, bizarre news, strange but true stories: Bizarre Florida | tampabay.com & St. Petersburg Times
Gator trappers do a brisk business in Florida, and now a homeowners association in Parkland is contemplating hiring a coyote trapper, SunSentinel.com reports. Area residents say coyotes are slaughtering their cats, sheep and a dog. (We’ll assume the sheep are not in the gated, upscale CypressHead community.)
---------------
A few years ago, an HOA here in Lake County, IL, hired some meatball who tramped around with a .44 magnum trying to find the mountain lion they were sure was lurking nearby. He never found anything but he did get his name in the paper. Other HOAs have hired people to shoot geese and deer. If you buy a house near Mother Nature, you get animals. Personally, I like the fact that we have coyotes, deer, foxes, possums, raccoons, ground squirrels, herons, red-tailed hawks, owls, and snapping turtles in and around our back yard. I never got this perspective that you can just eradicate any animal species that displeases you.
Thanks to Fred Pilot for the link.
Gator trappers do a brisk business in Florida, and now a homeowners association in Parkland is contemplating hiring a coyote trapper, SunSentinel.com reports. Area residents say coyotes are slaughtering their cats, sheep and a dog. (We’ll assume the sheep are not in the gated, upscale CypressHead community.)
---------------
A few years ago, an HOA here in Lake County, IL, hired some meatball who tramped around with a .44 magnum trying to find the mountain lion they were sure was lurking nearby. He never found anything but he did get his name in the paper. Other HOAs have hired people to shoot geese and deer. If you buy a house near Mother Nature, you get animals. Personally, I like the fact that we have coyotes, deer, foxes, possums, raccoons, ground squirrels, herons, red-tailed hawks, owls, and snapping turtles in and around our back yard. I never got this perspective that you can just eradicate any animal species that displeases you.
Thanks to Fred Pilot for the link.
Regulators close banks in Fla., Ga., Ore., Wash. - Business - msnbc.com
Regulators close banks in Fla., Ga., Ore., Wash. - Business - msnbc.com
Regulators on Friday shut banks in Florida, Georgia, Oregon and Washington, lifting to 108 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession.
------------------------
And so the recovery continues.
Regulators on Friday shut banks in Florida, Georgia, Oregon and Washington, lifting to 108 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession.
------------------------
And so the recovery continues.
Texas soldier gets home back after foreclosure | texas, dallas, foreclosure - Online Extras - Brownsville Herald
Texas soldier gets home back after foreclosure | texas, dallas, foreclosure - Online Extras - Brownsville HeraldDALLAS (AP) — The Frisco soldier and his family who lost their home to foreclosure while he was serving in Iraq will get the house back.
Army National Guard Capt. Michael Clauer and his wife, May, lost their $315,000 southwest Frisco home in May 2008 after falling behind on Heritage Lakes Homeowners Association dues.
The Clauers sued the association and subsequent buyers in federal court. A court-ordered settlement conference led to an agreement this week that gives the house back to the Clauers.
A gag order prevents those involved from sharing details.
-----------------
Gag order? The episode is enough to make anybody gag. And the Texas state legislature is stirring itself into possible action, so stay tuned. But the state-by-state struggle to get simple protections for owners against their HOAs just goes on and on.
Thanks to Fred Pilot for the link.
Army National Guard Capt. Michael Clauer and his wife, May, lost their $315,000 southwest Frisco home in May 2008 after falling behind on Heritage Lakes Homeowners Association dues.
The Clauers sued the association and subsequent buyers in federal court. A court-ordered settlement conference led to an agreement this week that gives the house back to the Clauers.
A gag order prevents those involved from sharing details.
-----------------
Gag order? The episode is enough to make anybody gag. And the Texas state legislature is stirring itself into possible action, so stay tuned. But the state-by-state struggle to get simple protections for owners against their HOAs just goes on and on.
Thanks to Fred Pilot for the link.
Friday, July 30, 2010
States going deeper into debt - Jul. 30, 2010
States going deeper into debt - Jul. 30, 2010
NEW YORK (CNNMoney.com) -- The states are broke, and like many consumers, they're borrowing big time to get out of their fiscal binds.
The amount of debt that states are carrying spiked 10.3% last year to $460 billion, according to Moody's Investors Service. The debt is paid for through taxes and fees, making residents ultimately responsible.
--------------
Honestly, it amazes me that this situation is getting so little attention. While the press covers Chelsea Clinton's wedding plans, half the states are becoming insolvent.
NEW YORK (CNNMoney.com) -- The states are broke, and like many consumers, they're borrowing big time to get out of their fiscal binds.
The amount of debt that states are carrying spiked 10.3% last year to $460 billion, according to Moody's Investors Service. The debt is paid for through taxes and fees, making residents ultimately responsible.
--------------
Honestly, it amazes me that this situation is getting so little attention. While the press covers Chelsea Clinton's wedding plans, half the states are becoming insolvent.
Congratulations to Marjorie Murray and the Center for California Homeowner Association Law!
Evan: we want to share this announcement with you and with the readers. We look forward to seeing it posted on your blog and your website! We see small claims court and unbundled legal services as crucial tools for achieving justice for homeowners in the courts.
Please do visit our website: we have LOTS of new material on it – including a video of our small claims court workshop.
Regards –
Marjorie Murray, President
Center for California Homeowner Association Law
Oakland, California
www.calhomelaw.org
510.272.9826
----------------------
The Center for California Homeowner Association Law (CCHAL) announced today that it has been nominated for the Louis M. Brown award given annually by the American Bar Association.
This national award honors advocates across the country, whose innovative programs improve access to legal services for the working poor and for moderate income people, that is: people who may not qualify for legal aid or pro bono legal services, yet do not have sufficient resources to pay for full-service attorneys.
Announcing the nominees, the Bar Association said, “The sole unifying element of the Brown Award nominees is their dedication to improving access to legal services for those who cannot otherwise afford it and thereby advancing access to justice for all.”
The Center has campaigned for better access to justice by making it possible for homeowners to bring certain issues into small claims court and for training homeowners in small claims court procedures. The Center is also training attorneys to provide “unbundled” or limited scope services. "Limited scope" holds promise as a more affordable way to deliver legal services to the working poor, to seniors, and to others of modest means.
A California superior court judge with in-depth knowledge of the Center’s work, nominated CCHAL for this national award.
Some of the small claims suits filed by homeowners are on the CCHAL website. [Keyword: small claims.] The CCHAL training video on small claims is also on the website. Trainers are two attorneys who are experts in preparing small claims suits. A DVD on preparing a small claims action is also available by mail from CCHAL.
CCHAL NewsBrief
July 20, 2010
Please do visit our website: we have LOTS of new material on it – including a video of our small claims court workshop.
Regards –
Marjorie Murray, President
Center for California Homeowner Association Law
Oakland, California
www.calhomelaw.org
510.272.9826
----------------------
The Center for California Homeowner Association Law (CCHAL) announced today that it has been nominated for the Louis M. Brown award given annually by the American Bar Association.
This national award honors advocates across the country, whose innovative programs improve access to legal services for the working poor and for moderate income people, that is: people who may not qualify for legal aid or pro bono legal services, yet do not have sufficient resources to pay for full-service attorneys.
Announcing the nominees, the Bar Association said, “The sole unifying element of the Brown Award nominees is their dedication to improving access to legal services for those who cannot otherwise afford it and thereby advancing access to justice for all.”
The Center has campaigned for better access to justice by making it possible for homeowners to bring certain issues into small claims court and for training homeowners in small claims court procedures. The Center is also training attorneys to provide “unbundled” or limited scope services. "Limited scope" holds promise as a more affordable way to deliver legal services to the working poor, to seniors, and to others of modest means.
A California superior court judge with in-depth knowledge of the Center’s work, nominated CCHAL for this national award.
Some of the small claims suits filed by homeowners are on the CCHAL website. [Keyword: small claims.] The CCHAL training video on small claims is also on the website. Trainers are two attorneys who are experts in preparing small claims suits. A DVD on preparing a small claims action is also available by mail from CCHAL.
CCHAL NewsBrief
July 20, 2010
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