Posted in economy, tagged agreement, austerity, author, billionaire, book, capital, Cassandras, Charlie Rose, competitive, consequences, consumer, contraction, contrarian, controversy, corporate mercantilism, corporations, correction, crash, credible, credit, currencies, cuts, dangers, debate, deficits, derivatives, disadvantage, disincentive, doomsayers, double dip recession, downturn, Dr. Doom, due, economy, effects, Elizabeth Warren, export, Financial Modernization Act, financial services industry, financial system, foretold, fragile, free trade, future, gambling, gap between the rich and the poor, GATT, Glass-Steagall Act, globalism, globalization, goldsmith, Gramm-Leach-Bliley Act, Great Recession, grow, hindsight, IMF, incentive, industrialized, international, International Monetary Fund, investments, irrational exuberance, Jeremy Grantham, joblessness, jobs, liberalisation, liberalization, losses, Main Street, markets, meltdown, middle class, NAFTA, nations, new normal, New Trade Theory, Nouriel Roubini, oligarchy, outsource, parity, PBS, pendulum, perma-bear, Peter Schiff, playing field, predict, private interests, protect, reasons, recovery, Reform, regulations, risk, Robert R. Prechter, Robert Shiller, Senator Byron Dorgan, shift, stimulus, stock, struggle, tariff, TARP, theory, trade, trade deficits, trap, treaty, two-income trap, unemployment, volatility, Wall Street, workers, world, World Bank, World Trade Organization, WTO on July 28, 2010 |
Leave a Comment »
Giving credit where credibility is due.
Charlie Rose:
How do you see the economy today? The world economy? Where are we?
Answer:
I think the financial system is extremely fragile. I think that you can see it in the volatility of currencies; you can see all sorts of weaknesses. I believe that there is an incredible amount of danger in things like the derivatives. I think that we are moving toward the outer limits of acceptable risk taking. … I think our financial system is dangerous and could create great problems for the real economy. …
— Sir James Michael Goldsmith, billionaire financier, 1994; February 26, 1933 – July 18, 1997
(more…)
Read Full Post »
Posted in faith, media, notes on the human condition, politics, tagged abusive, ACLU, Americans, Arizona, ashamed, badly, behave, bill, border, Cardinal Roger Mahony, Catastrophizing, church, civilians, clash, Communist, comparison, comply, consequences, conservatives, controversy, crime, critic, criticisms, cross, debate, dialog, disappointing, dishonest, divided, divisive, documentation, drug war, ego, ethical, ethnocentric. stereotype, exaggeration, fear mongering, Federal, First Amendment, government, governor, higher calling, illegal immigration, intellectually dishonest, irresponsible, issue, Jan Brewer, law enforcement, leaders, liberals, librals, lies, Los Angeles, Lou Dobbs, Michael Smerconish Program, middle ground, misdirect, mislead, moral, narc, Nazi, neo Nazi, on the books, outcomes, personal, polarized, polemic, police, policy, political temperance, poor example, popularity, pragmatic, predators, prediction, profiling, protests, provocative, public interst, race war, racist, raise the bar, rat out, reality check, Robert Krentz, Roman Catholic, Russell Pearce, safety, SB 1070, senator, set example, shame, smear, speech, statesmanship, status, trash talk, truth, turn in, unfair, unforeseen, victims, violence on April 23, 2010 |
1 Comment »
In a move that has sparked controversy nationwide, Arizona state Senator Russell Pearce, R-Mesa, has successfully promoted a bill that requires state law enforcement, among related jurisdictions, to aid in federal immigration law enforcement. The state senator’s most outspoken critic, Roger Mahony, Roman Catholic archbishop of Los Angeles, writes on his blog:
I can’t imagine Arizonans now reverting to German Nazi and Russian Communist techniques whereby people are required to turn one another in to the authorities on any suspicion of documentation. Are children supposed to call 911 because one parent does not have proper papers? Are family members and neighbors now supposed to spy on one another, create total distrust across neighborhoods and communities, and report people because of suspicions based upon appearance?
Mahony’s words are provocative — arguably, even, a cheapening comparison to the horrors Communist and Nazi victims experienced. Yet they come on the heels of an audacious personal attack: The Los Angeles Times reports Sen. Pearce told syndicated radio talk show host Michael Smerconish “This guy has a history of protecting and moving predators around in order to avoid detection by the law. He has no room to talk [on the illegal immigration issue].”
Sen. Pearce may be well within the protections of the First Amendment, but he has far overstepped the bounds of responsible speech. Cardinal Mahony, however, has some confession of his own to do: Dredging up a very painful historic reality in contrast to a hypothetical and alarmist outcome.
It’s time for a time-out.
(more…)
Read Full Post »
Posted in economy, politics, technology, tagged adapt, adjustment, ahead, alternative energy, alternatives, Amazon, American Dream, Baby Boomers, bailouts, banks, barrel, big box, Big Coal, Bowling Alone, brick and mortar, budget, buy local, buying, buying decisions, cap and trade, capacity, careers, cars, Cash for Clunkers, chain stores, challengers, change, climate, coffers, commodity, communitarianism, communities, community, community centers, community purse, companies, compete, computers, concentration, consequences, constrain, consumer confidence, consumers, cookie cutter, crude, Dark Age, deals, debt, debtor, deficits, defunct, demand, demise, demographics, desertification, destinations, developments, digital, discontinued, discounters, diversity, domain, double dip recession, downsizing, drivers, e-commerce, e-retailers, e-tailers, ecommerce, economists, education, efficiency, Ellen Ruppel Shell, encroach, energy, entitlements, erosion, evolution, expectations, Federal, financial, forecast, fossil fuels, free shipping, frugal, fund, future, gains, gasoline, globalization, GNP, governments, Green, Greening, growth, hardware, here to stay, heritage, hikes, hindsight, horizon, income, increases, independence, inflation, infrastructure, innovation, internet shopping, Jane Jacobs, Jeff Goodell, jobless recovery, jobs, landscape, lifestyle, lingering, local, local color, long term, loss, losses, market forces, marketplace, Marshalls, money, moneysaver, mouse, myth, necessity, new normal, oases, oil, oil refineries, out of business, outlook, overstock, Perfect Storm, petro, pitfalls, population, postal service, prediction, price wars, prices, production, projection, public safety, purchases, question, ramifications, rates, reality, red tag, refining, regulation, retail, retailers, revolution, risks, Robert B. Putnam, Ross, sales, scale back, sell, shift, shipping, shop, shop locally, shoppers, shopping, signs of life, Social Security, society, spend, stagnation, standard of living, state, suburbia, SUVs, TARP, tax base, tax revenues, tax-free, taxation, thrift, time, TJ Maxx, toll, too little too late, towns, trade, transport, travel, trends, unintended, United States, urban, vacuum, wages, weak, web, web bargains, websites, welfare, workforce on March 22, 2010 |
2 Comments »
For years “energy independence” has been the catch-all solution promoted by politicians, talk radio hosts, newspaper columnists and others who point out that the U.S. is short on oil refining capacity. Nonetheless, petroleum production facilities are not only in the process of downsizing in response to a weak economy, but permanently so the Los Angeles Times reports in “Oil companies look at permanent refinery cutbacks” [March 11, 2010].
The oil industry, which as recently as 2007 broke so many profit records that allegations of collusion and price-gouging surfaced, is singing a different tune: Limiting supply to increase sagging profit margins is the solution, analysts say, for losses induced by everything from fuel efficient cars to retiring baby boomers who no longer commute to and from work.
And to think: Just a few years ago SUVs, with their paltry ~13 mpg, were the rage from Coast to Coast. Could it be that Cash for Clunkers, unintentionally so, was a little too effective — or are oil industry insiders selling Americans up the river when they can least afford it? Whatever the case may be, nothing says Green like fuel-efficient automobiles and the beginnings of an alternative energy infrastructure. Even so, the picture the LAT paints is far from complete. The Perfect Storm of tightening supply, increasing commodity prices, rising taxes and further job losses looms on the horizon.
Hang on to your hat! The price of life is going up.
(more…)
Read Full Post »
