Bad Prognostications for Coral Gables’ Future

September 1, 2010 Leave a comment

Being cautious in trying to resolve the budget crisis in Coral Gables is equally dangerous.

…the administration has lost credibility with the public and the chances of a renewed fiscal expansion have disappeared. With the Federal Reserve cautious, too, the likelihood of a lengthy period of weak growth and heavy joblessness is high. So, too, are the chances of domestic and global political friction.

via FT.com / Columnists / Martin Wolf – Obama was too cautious in fearful times.

Filed under Economy, Government

Unions Slam Mayor

August 31, 2010 Leave a comment

The police and firefighters resounding show their lack of respect for taxpayers.  They think themselves indispensable and owed a great salary by the citizens.  If we all are a family, we all have to share the sacrifice.  (PS. This is about the City of Miami.)

City consultants…proposed cost saving measures including reduced salaries for every employee making more than $39,000, topping out with 12 percent cuts for everyone hauling in more than $120,000 a year. They suggested upping the retirement age, and adding larger deductables to health care plans.

Then the union bosses came to the podium to share their thoughts on the measures. The messages were not measured.

via Unions Slam Mayor, Commission Over Proposed Pay and Benefit Cuts – Miami News – Riptide 2.0.

Filed under Economy, Employees and Unions, Miami

US Leaders are Failing Us: Coral Gables will Pay Dearly

August 30, 2010 Leave a comment

Coral Gables will be affected directly and indirectly by the failure of economic policy leadership in the Congress and the Administration.  A small stimulus package is what is needed now for the US and the world economy.

The US recovery is stalling. As a matter of economics the balance of risks strongly favours further fiscal and monetary stimulus. Politics appears to rule out the first, and a divided Federal Reserve is hesitating over the second. America’s leaders are letting the country down.

…

Unlike most other advanced economies, the US could undertake further fiscal stimulus at acceptably low risk. Global appetite for its debt is undiminished. The risk, such as it is, could be all but eliminated if Congress could commit itself to stimulus now, restraint later – an easy thing, you might suppose, but evidently beyond its grasp. The administration could and should be pushing for just such a package, but it is not.

via FT.com / Columnists / Clive Crook – It falls to the Fed to fuel recovery.

Filed under Coral Gables, Economy, Florida

Japan Acts on its Economy: Concern for US

August 30, 2010 Leave a comment

The FT quoting the Bank of Japan.  They are acting to protect exports, growth and employment.

The central bank said on Monday that Japan’s economy “is likely to be on a recovery trend.”

However, it added that “uncertainty about the future, especially for the US economy, has heightened more than before, and the foreign exchange and stock markets have recently been unstable.”

“In these circumstances, the bank judged it necessary to pay more attention to the downside risks to the outlook for Japan’s economic activity and prices,” the bank said.

via FT.com / Japan – Bank of Japan takes fresh stimulus steps.

Filed under Economy

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