World Affairs
Politics & OpinionsBy jmalmberg
2 weeks ago
March 3, 2010 - Tomorrow morning, the latest job numbers are due to be released by the federal government. They are expected to be bleak and the White House is now in full-on finger pointing mode. But they aren't pointing the finger where you might think. They're not blaming those pesky Republicans or tea baggers. They're not singling out individual members of Congress that they consider to be obstructionist. No, they are blaming the weather; specifically the snow fall that has blanketed much of the country. Who would have thought that with global warming being such a big problem that snow could possibly result in an additional 100,000 or so job losses? Maybe we should track down Al Gore to explain how this all works!  All kidding aside, the White House is running as fast as it can to distance itself from the latest job numbers and they are blaming the weather. Larry Summers, an economic advisor to the President told CNBC that, "The blizzards that affected much of the country during the last month are likely to distort the statistics."
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World AffairsPolitics & OpinionsBy Eddie
2 weeks ago
Some liberal observers, noticing President Barack Obama’s lack of success in advancing his signature agenda items, “health care reform” and cap and trade, are theorizing (or concluding) that America has become ungovernable.
Newsweek takes up this matter, blaming “obstructionist Republicans, spineless Democrats and an increasingly incoherent electorate” for America’s supposed ungovernability. [1]
The fact that “health care reform” is not yet a done deal is supposed to illustrate the problem. All liberals agree that Obamacare is sorely needed and would greatly relieve a lot of suffering. Yet the Republicans won’t get on board with it, and a majority of Americans, having been informed about it (since the Democrat’s initial dead-of-night, unread-bill effort to pass it didn’t quite work) selfishly don’t want to lose their current coverage, with which they are moderately satisfied, and pay substantially more in taxes.
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World AffairsPolitics & OpinionsBy halthouse1
4 weeks ago
Fare Hikes Predicted
The Drum Major Institute for Public Policy predicts that due to its large deficits, the MTA will likely be forced to once again raise fares while providing reduced service in 2011. The fare increase is estimated to be $.35, bringing the cost to $2.60 for a single ride, while the monthly unrestricted ride MetroCard would be over $100. This fare hike could end up costing a family of four more $2,000 a year above the current level. For those living pay check to paycheck, this increase could be the straw that breaks the camels back.
Helplessness and Hopelessness
It is definitely a stretch to take the potential increase in fares and tie it to a potential increase in the threat to the security of the people of New York. On the other hand, some of what will drive an individual into a radical lifestyle, is the fact that there is no other hope in their lives now, or projecting into the future. Charismatic leaders use this to offer those in distress another way.
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World AffairsPolitics & OpinionsBy jmalmberg
4 weeks ago
February 17, 2010 - Investors have viewed US issued bonds as safe investments for years. After all, the US Government stands behind them and the money raised through their sale helps pay for government programs. What could be safer or more patriotic? We're just investing in ourselves. Well, not so fast. Bond sales are now the primary way that the government is funding its recent massive spending, and it is using accounting tricks to continue to sell them. The current trend is unsustainable. Within ten years, the amount of money being spent on bond interest alone will be significantly larger that the budget for the Defense Department. By purchasing bonds, we continue to help fuel this spending spree. Although individual investors make up a relatively small part of the bond market, (governments and institutional investors make up the bulk of it) it is time to send a message to Washington that the wild spending has to stop and that the American people will not support a government that appears to be speeding towards insolvency. Bonds have a long history within the United States. The first government bonds within the US date back to 1776. During World War II, the United States sold War Bonds to the public to help fund the war effort. And since 1935, the government has had the current US Savings Bond Program in effect. |
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World AffairsPolitics & OpinionsBy halthouse1
4 weeks ago
Middle Class Tax Hikes On The Horizon?
Homeland security in New York has one meaning when the name is mentioned. Keeping the citizenry safe from terrorist attacks of any kind. Now, however, that President Obama has opened up the potential to raise taxes on what his administration deems to be the middle class, home security will be questioned as well.
With the economy in extremely poor shape and people fighting just to make ends meet, is a tax hike the answer to exploding budget deficits, or is cutting the budge more of the answer? The academics now running Washington, and our lives by extension, had better learn a lesson from history before they start down the tax hike path again.
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World AffairsPolitics & OpinionsBy halthouse1
5 weeks ago
You can't smell it or feel it, but it is there 
There are many types of terrorism in the world as we know only too well. There is the kind that kills people and destroys property. There is the kind that seeks to destroy the environment. There is cyber, bio, state sponsored, nuclear and narco terrorism.
Finally there is the kind that is right out front, legitimate and at first extremely useful to the victim. In the early stages there is euphoria as the situation appears to good to be true. Then there is benign ignorance, then some inklings of concern and finally the awareness that a huge hole has been dug, with few options as to how to climb out.
Economic Terrorism
This terrorism develops from one entities reliance on another entity for a significant portion of its financial well being. This is exactly the situation between the United States and China.
At first it might be product driven |
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World AffairsPolitics & OpinionsBy Eddie
6 weeks ago
“The government’s key policy lever should be to make sure that institutions hold enough capital to reflect the risks that they run and the threats that they pose to the rest of the financial system.” – Financial Times editorial [1]
There is broad consensus that regulatory measures should be taken in regard to Wall Street firms in order to lessen the likelihood of a financial meltdown such as we saw in 2008. There are several options ranging from tweaking to government takeover. President Barack Obama has reportedly declared war on Wall Street, and it is doubtful that this approach will end up helping the situation.
Treasury Secretary Timothy Geithner is not the front man for Obama on his reform effort. Instead, former Federal Reserve Board Chairman Paul Volcker is the spokesman. This leads us to wonder what Geithner’s role is now. Is Volcker the “reform czar”? Obama is championing the Volcker plan that would stop big banks from their proprietary trading, and set up measures to sell or merge “failing” financial institutions.
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