A $1.3 million dollar house, $53,000 in taxes, is 4% of value. That may seem rather low, but it's certainly high in property tax terms.
For comparison, in Beaverton, OR, fastest growing city in Oregon, my $250,000 assessed value home cost me $2800 in property taxes last year, a mere 1.12%. And this in a city with no sales tax, and a state that gets by on only income tax, property tax, and user fees.
-------------------------------------
Maximum jobs, not maximum profits.
Wouldn't this be as expected? Official indices below 50 & lots of inventory in the warehouses?
Though the rising prices kind of throws me for a loop- who exactly can afford these rising prices?
-------------------------------------
Maximum jobs, not maximum profits.
While it's not really a documentary, more a manifesto and I thought it was truly thought provoking, especially in the influence of behavioral psychology and note, this is not good which is one of the reasons I harp on behavioral economics so much, it's much less quantifiable, various theories and there have been so many wrong headed beliefs coming from psychology it's enough to make your head spin. (pun intended).
But bottom line is Democrats sold out to corporate and special interests just like Republicans did and Clinton really was one of the worst. We haven't had a New Deal Democrat since Lyndon B. Johnson.
Now the spin is in with VP Biden suggesting that maybe they "underestimated" the unemployment rate.
Well, we were hear screaming, especially me, about how the Stimulus wasn't going to Stimulate because they were not putting conditions on the funds to go to U.S. workers for jobs in the U.S. In other words they did not tie the money to worker income, which is necessary for Keynes to actually work as intended.
Now they are back peddling. In addition we saw the report they are awarding contracts via the same corrupt methodology as Iraq contracts were awarded.
We had a massive jump in income, but that is in the form of tax cuts and it did not really go to those in need of a job...in need of real income.
The EI are only pertinent to a select few at the top that may be amassing more wealth. The middle/lower classes are losing more and more ground.
The progressive/labor agenda has been abandoned. It began with the marketing to the 60's Sense of Self and big corporations finding a way to make money off a sense of "Individualism".
The final nail was driven by Clinton following a political marketing scheme - namely Mark Penn. The middle class turned their collective heads to the most vulnerable in society - now the middle class is being shunned, as well.
Adam Curtis (BBC) did a spectacular expose' on the convergence of marketing/big business/politics in 2002. It is a 4-part series, but episode 4 showcases the Clinton/Blair campaigns.
I'm convinced at this point, reading the very valid macro economic indicators and also reading the threat to the U.S. dollar, the continual destruction of the middle class and the obvious, the massive unemployment numbers, plus the hidden ones, we have two economies going on in the United States.
Even during the "recovery" after the last recession, it was a multinational corporation, a super rich, a housing bubble recovery. Wages were still declining, everywhere people as workers getting thrown away like disposable diapers, more debt, decrease in social mobility.
Let's call it the middle class economy. I don't think it has a prayer's chance of recovering unless we actually get real action on a host of issues and that is labor issues, curtailing massive offshore outsourcing, trade is a huge component, health care is a more minor component, education is as well and frankly there is no way, none that the U.S. can continue with it's bringing in more immigrants, illegals either. It's labor supply 101 and there are so many problems for the people who live here already, that's where the action has to go.
But to rectify the difference between the EIs vs. what we know on the ground, on main street, somehow we need to dig into some real macro economic data which exposes this. I strongly suspect our EIs are biased towards multinational corporations, wall street, the "super elite" at this point.
At the same time, EIs as they are ....are important, for without those improving, main street doesn't have a chance but it's kind of like they can improve and still leave main street hanging out to dry.
Naked Capitalism has a piece speculating as to why Sweden is doing this. But at the bottom is this:
Update 1300ET: Note – so as not to play too fast and lose with my terminology, I should clarify that the Riksbank is charging banks for holding deposits at the Riksbank. They are not lending at negative interest rates as the statement “Basically, you are giving people money to borrow” suggests. Also, regarding the lending by the Riksbank, they are not technically engaging in quantitative easing (buying government paper with new money). However, the net effect of the lending is to increase credit flow.
California as our poster child of bad states, midtowng has a unique concept to create a state bank, modeled on the lines of the North Dakota one.
There are other problems though with CA and it appears the worst is the 2/3rd majority to pass anything.
But they also have estimated a $10.5 Billion dollar bill for illegal immigrants every year. I think finally looking at economic reality on illegal immigration and actually doing something about it is in order. Not only is it clearly a expenditure burden but it also wage represses, particularly to the unskilled work areas (due to the bulk of illegals being in the unskilled labor category).
But, with the moral hazard and CA if they get bailed out somehow they need to tie a save with that state changing it's constitution or something because their fiscal irresponsibility, gerrymandered, special interests will just continue.
I mean the thing with illegal immigration, it is beyond stupid to me, it's just financial reality, you cannot take on the world's poor and expect to not take a serious financial hit, way it is, yet due to special interests these basic labor economic realities cannot be even mentioned much less dealt with in a responsible fashion!
There are a host of things like this in California.
The Surtax too is painful and what if people leave that state, are they still taxed retroactively because they are going to get "caught" in a mess they did not personally make. Glad I don't live there!
U.S. International Trade in Goods and Services Highlights
June 10, 2009
Goods and Services Deficit Increases in April 2009
The Nation's international deficit in goods and services increased to $29.2 billion in April from $28.5 billion (revised) in March, as exports decreased more than imports.
Goods and Services
• Exports decreased to $121.1 billion in April from $123.9 billion in March. Goods were $80.0 billion in April, down from $82.6 billion in March, and services were $41.1 billion in April, down from $41.4 billion in March.
•
• Imports decreased to $150.3 billion in April from $152.5 billion in March. Goods were $120.1 billion in April, down from $121.8 billion in March, and services were $30.2 billion in April, down from $30.7 billion in March.
•
• For goods, the deficit was $40.1 billion in April, up from $39.2 billion in March. For services, the surplus was $10.9 billion in April, up from $10.7 billion in March.
•
Let me explain what this Merchandise Trade Deficit means to AMERICANS.
First I must tell you that International Trade is a ZERO-SUM game meaning when any country gains one job another country will lose one job.
If your Country has an International Trade Deficit then your country is losing JOBS to the rest of the world.
If your Country has an International Trade Surplus then your country is gaining JOBS from the rest of the world.
America has the largest International Trade Deficit, greater than any other country in the entire world. In fact America has a Trade Deficit almost as large as the all the other countries of the world combined.
Based on the April 2009 Trade of: $29.2 times 12 = $350.4 Billion Dollars worth of American Jobs that will be sent off shore to other countries during the year of 2009.
Right now Americans are being Laid-Off, driven into bankruptcy and forced foreclosure of his home.
Why is Federal Government sending $350.4 Billion Dollars worth of Jobs off Shore?
This is total Insanity by our Federal Government.
I worked as Industrial Engineer for (30) years for Rockwell International one of largest Companies in America. I worked on production problems like this all my life, so trust me I know what I am talking about when it comes to Jobs.
If you were to ask me how to create enough American JOBS to get American out of this Depression as fast as possible there is only one answer:
I would tell you if I was President of America I would give the required (60) days notice to pull out of NAFTA and the WTO immediately.
Then watch all of them International Companies bust their butts to bring back all of them American JOBS that was moved off shore in the last 20 years.
Remember America still has the Largest Product Consumer Market base in the entire world.
Based on my calculations all I am saying is America is getting a royal screwing on International Trade Agreements.
So, I just want trade places with the rest of the world. Let them produce all of the American Exports and I will produce all of American Imports, Something we Americans have total control over.
Now, of course there will still be some Exports that other countries must buy from America, so the Jobs created will be ever greater than my calculations project.
America would pull out of this DEPRESSION almost over night. I am sure some other countries of the world would not like this very much, but they know the Presidents first job must be to look out for the American workers interest.
There President really has no other choice here because if WE did not pull out of NAFTA and the WTO soon, America will go into a total financial collapse from losing jobs to the rest of the world. That is exactly what is happening as I speak and in the end there can be no other choice.
America would start creating more jobs over night than we Americans can fill. That is not a maybe, that is an Absolute Promise.
Call your Congress-person in Washington D.C. and demand that America Pull out of NAFTA and the WTO immediately.
I have to think that the same thing could be true if there were a Bank of the United States, so that the US government borrowed from itself...
It reminds me of the historical German sparkassen which funded industrialization in that country, and the cajas de ahorro which have done the same more recently in Spain.
In the latter case, the cajas where vital in getting the renewable energy industry (particularly wind) up and running in the country.
These little banks worked a lot like credit unions, and lent money locally to start up companies in that sector. They held the stock until the the companies were successful, piling the profits back into the caja. When the companies were able to stand on their own the cajas would hold an IPO to launch the company into the traded sector.
There is no reason that a reorganization of banks in the United States to put a large part of the credit function mostly back into state and local banks couldn't do the same in the US.
a very good proposal actually, I hope we can get a lot of people to read this post because at least for me, this is the first time I've heard of such a proposal for California.
But given what I've seen (appointing cabinet members opposed to his campaign promises, repeatedly watering down his own proposals before anybody gets a chance to look at them, worrying more about what China might think about protectionism than his own constituents) I'd say Obama is his own WORST enemy.
-------------------------------------
Maximum jobs, not maximum profits.
A stupid thing to say as his political enemies would surely take advantage.
Maybe President Obama's only enemy is himself? It was a stupid thing to say then, and isn't going to reflect well if he's a bought and paid for stooge as some claim (which doesn't include me...)
I wanted to post a link, but every combination of key words led to Republican sites... :(
On this a while back. I must admit, it was within the last three months I learned about it myself. Wikipedia has a nice set of linked articles on the history on The Bank of North Dakota, but today they're mainly providing the services of a FED to the people of North Dakota. They're the lender of last resort- though usually they'll just buy out points on your business loan. They clear checks- Kansas being deemed too far away. They guarantee student loans. They have an account with the Federal Reserve- but they don't pay FDIC insurance, their deposits being guaranteed by the state legislature.
I'd personally like to see their example used in an anti-trust lawsuit to break up the federal reserve into 50 similar banks.
-------------------------------------
Maximum jobs, not maximum profits.
I never even heard of this, would be interesting to find out the specifics, expand this comment some more (you can create an account to post). Welcome to EP!
A $1.3 million dollar house, $53,000 in taxes, is 4% of value. That may seem rather low, but it's certainly high in property tax terms.
For comparison, in Beaverton, OR, fastest growing city in Oregon, my $250,000 assessed value home cost me $2800 in property taxes last year, a mere 1.12%. And this in a city with no sales tax, and a state that gets by on only income tax, property tax, and user fees.
-------------------------------------
Maximum jobs, not maximum profits.
Wouldn't this be as expected? Official indices below 50 & lots of inventory in the warehouses?
Though the rising prices kind of throws me for a loop- who exactly can afford these rising prices?
-------------------------------------
Maximum jobs, not maximum profits.
The Trap.
While it's not really a documentary, more a manifesto and I thought it was truly thought provoking, especially in the influence of behavioral psychology and note, this is not good which is one of the reasons I harp on behavioral economics so much, it's much less quantifiable, various theories and there have been so many wrong headed beliefs coming from psychology it's enough to make your head spin. (pun intended).
But bottom line is Democrats sold out to corporate and special interests just like Republicans did and Clinton really was one of the worst. We haven't had a New Deal Democrat since Lyndon B. Johnson.
Now the spin is in with VP Biden suggesting that maybe they "underestimated" the unemployment rate.
Well, we were hear screaming, especially me, about how the Stimulus wasn't going to Stimulate because they were not putting conditions on the funds to go to U.S. workers for jobs in the U.S. In other words they did not tie the money to worker income, which is necessary for Keynes to actually work as intended.
Now they are back peddling. In addition we saw the report they are awarding contracts via the same corrupt methodology as Iraq contracts were awarded.
We had a massive jump in income, but that is in the form of tax cuts and it did not really go to those in need of a job...in need of real income.
The EI are only pertinent to a select few at the top that may be amassing more wealth. The middle/lower classes are losing more and more ground.
The progressive/labor agenda has been abandoned. It began with the marketing to the 60's Sense of Self and big corporations finding a way to make money off a sense of "Individualism".
The final nail was driven by Clinton following a political marketing scheme - namely Mark Penn. The middle class turned their collective heads to the most vulnerable in society - now the middle class is being shunned, as well.
Adam Curtis (BBC) did a spectacular expose' on the convergence of marketing/big business/politics in 2002. It is a 4-part series, but episode 4 showcases the Clinton/Blair campaigns.
I'm convinced at this point, reading the very valid macro economic indicators and also reading the threat to the U.S. dollar, the continual destruction of the middle class and the obvious, the massive unemployment numbers, plus the hidden ones, we have two economies going on in the United States.
Even during the "recovery" after the last recession, it was a multinational corporation, a super rich, a housing bubble recovery. Wages were still declining, everywhere people as workers getting thrown away like disposable diapers, more debt, decrease in social mobility.
Let's call it the middle class economy. I don't think it has a prayer's chance of recovering unless we actually get real action on a host of issues and that is labor issues, curtailing massive offshore outsourcing, trade is a huge component, health care is a more minor component, education is as well and frankly there is no way, none that the U.S. can continue with it's bringing in more immigrants, illegals either. It's labor supply 101 and there are so many problems for the people who live here already, that's where the action has to go.
But to rectify the difference between the EIs vs. what we know on the ground, on main street, somehow we need to dig into some real macro economic data which exposes this. I strongly suspect our EIs are biased towards multinational corporations, wall street, the "super elite" at this point.
At the same time, EIs as they are ....are important, for without those improving, main street doesn't have a chance but it's kind of like they can improve and still leave main street hanging out to dry.
Naked Capitalism has a piece speculating as to why Sweden is doing this. But at the bottom is this:
California as our poster child of bad states, midtowng has a unique concept to create a state bank, modeled on the lines of the North Dakota one.
There are other problems though with CA and it appears the worst is the 2/3rd majority to pass anything.
But they also have estimated a $10.5 Billion dollar bill for illegal immigrants every year. I think finally looking at economic reality on illegal immigration and actually doing something about it is in order. Not only is it clearly a expenditure burden but it also wage represses, particularly to the unskilled work areas (due to the bulk of illegals being in the unskilled labor category).
But, with the moral hazard and CA if they get bailed out somehow they need to tie a save with that state changing it's constitution or something because their fiscal irresponsibility, gerrymandered, special interests will just continue.
I mean the thing with illegal immigration, it is beyond stupid to me, it's just financial reality, you cannot take on the world's poor and expect to not take a serious financial hit, way it is, yet due to special interests these basic labor economic realities cannot be even mentioned much less dealt with in a responsible fashion!
There are a host of things like this in California.
The Surtax too is painful and what if people leave that state, are they still taxed retroactively because they are going to get "caught" in a mess they did not personally make. Glad I don't live there!
U.S. International Trade in Goods and Services Highlights
June 10, 2009
Goods and Services Deficit Increases in April 2009
The Nation's international deficit in goods and services increased to $29.2 billion in April from $28.5 billion (revised) in March, as exports decreased more than imports.
Goods and Services
• Exports decreased to $121.1 billion in April from $123.9 billion in March. Goods were $80.0 billion in April, down from $82.6 billion in March, and services were $41.1 billion in April, down from $41.4 billion in March.
•
• Imports decreased to $150.3 billion in April from $152.5 billion in March. Goods were $120.1 billion in April, down from $121.8 billion in March, and services were $30.2 billion in April, down from $30.7 billion in March.
•
• For goods, the deficit was $40.1 billion in April, up from $39.2 billion in March. For services, the surplus was $10.9 billion in April, up from $10.7 billion in March.
•
Let me explain what this Merchandise Trade Deficit means to AMERICANS.
First I must tell you that International Trade is a ZERO-SUM game meaning when any country gains one job another country will lose one job.
If your Country has an International Trade Deficit then your country is losing JOBS to the rest of the world.
If your Country has an International Trade Surplus then your country is gaining JOBS from the rest of the world.
America has the largest International Trade Deficit, greater than any other country in the entire world. In fact America has a Trade Deficit almost as large as the all the other countries of the world combined.
Based on the April 2009 Trade of: $29.2 times 12 = $350.4 Billion Dollars worth of American Jobs that will be sent off shore to other countries during the year of 2009.
Right now Americans are being Laid-Off, driven into bankruptcy and forced foreclosure of his home.
Why is Federal Government sending $350.4 Billion Dollars worth of Jobs off Shore?
This is total Insanity by our Federal Government.
I worked as Industrial Engineer for (30) years for Rockwell International one of largest Companies in America. I worked on production problems like this all my life, so trust me I know what I am talking about when it comes to Jobs.
If you were to ask me how to create enough American JOBS to get American out of this Depression as fast as possible there is only one answer:
I would tell you if I was President of America I would give the required (60) days notice to pull out of NAFTA and the WTO immediately.
Then watch all of them International Companies bust their butts to bring back all of them American JOBS that was moved off shore in the last 20 years.
Remember America still has the Largest Product Consumer Market base in the entire world.
Based on my calculations all I am saying is America is getting a royal screwing on International Trade Agreements.
So, I just want trade places with the rest of the world. Let them produce all of the American Exports and I will produce all of American Imports, Something we Americans have total control over.
Now, of course there will still be some Exports that other countries must buy from America, so the Jobs created will be ever greater than my calculations project.
America would pull out of this DEPRESSION almost over night. I am sure some other countries of the world would not like this very much, but they know the Presidents first job must be to look out for the American workers interest.
There President really has no other choice here because if WE did not pull out of NAFTA and the WTO soon, America will go into a total financial collapse from losing jobs to the rest of the world. That is exactly what is happening as I speak and in the end there can be no other choice.
America would start creating more jobs over night than we Americans can fill. That is not a maybe, that is an Absolute Promise.
Call your Congress-person in Washington D.C. and demand that America Pull out of NAFTA and the WTO immediately.
Here is yet another report which says the dollar will not be discussed at the G-8.
I have to think that the same thing could be true if there were a Bank of the United States, so that the US government borrowed from itself...
It reminds me of the historical German sparkassen which funded industrialization in that country, and the cajas de ahorro which have done the same more recently in Spain.
In the latter case, the cajas where vital in getting the renewable energy industry (particularly wind) up and running in the country.
These little banks worked a lot like credit unions, and lent money locally to start up companies in that sector. They held the stock until the the companies were successful, piling the profits back into the caja. When the companies were able to stand on their own the cajas would hold an IPO to launch the company into the traded sector.
There is no reason that a reorganization of banks in the United States to put a large part of the credit function mostly back into state and local banks couldn't do the same in the US.
a very good proposal actually, I hope we can get a lot of people to read this post because at least for me, this is the first time I've heard of such a proposal for California.
Banks (minus the 7 closed yesterday) are not taking a holiday on Friday, nor are the regulators.
Ya know I saw that flying by and it didn't connect because it's not fathomable to have a negative interest rate on savings...
so I it didn't register.
Thanks for bringing this one to attention!
7 so far - the West Coast may chip in
But given what I've seen (appointing cabinet members opposed to his campaign promises, repeatedly watering down his own proposals before anybody gets a chance to look at them, worrying more about what China might think about protectionism than his own constituents) I'd say Obama is his own WORST enemy.
-------------------------------------
Maximum jobs, not maximum profits.
A stupid thing to say as his political enemies would surely take advantage.
Maybe President Obama's only enemy is himself? It was a stupid thing to say then, and isn't going to reflect well if he's a bought and paid for stooge as some claim (which doesn't include me...)
I wanted to post a link, but every combination of key words led to Republican sites... :(
I will post this:
http://www.notable-quotes.com/o/obama_barack.html
Lots of interesting quotes.
I'd rather not see him fail...
On this a while back. I must admit, it was within the last three months I learned about it myself. Wikipedia has a nice set of linked articles on the history on The Bank of North Dakota, but today they're mainly providing the services of a FED to the people of North Dakota. They're the lender of last resort- though usually they'll just buy out points on your business loan. They clear checks- Kansas being deemed too far away. They guarantee student loans. They have an account with the Federal Reserve- but they don't pay FDIC insurance, their deposits being guaranteed by the state legislature.
I'd personally like to see their example used in an anti-trust lawsuit to break up the federal reserve into 50 similar banks.
-------------------------------------
Maximum jobs, not maximum profits.
"By the skillful and sustained use of propaganda, one can make a people see even heaven as hell or an extremely wretched life as paradise"
The propaganda machine is running full steam, maybe more than I have ever seen it in my lifetime.
I only question which side I will be on.
20,000 people will lose unemployment benefits. So the there you go, government can crow that unemployment has gone down.
Notice I said losing benefits not finding jobs.
I never even heard of this, would be interesting to find out the specifics, expand this comment some more (you can create an account to post). Welcome to EP!
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