Coral Gables Environment, Politics and Government
October 18, 2010 Leave a comment
The same government that is holding in abeyance (hostage?) $160,000 of Red Cross monies, has a mayor who was driving a $100,000 Porsche and couldn’t remember what friend loaned it to him. No further comment needed.
October 17, 2010 Leave a comment
This is what ones does when funds are limited and when the economics of stadiums dictate caution. When the cost comes out of private hands, greater financial caution is applied than when faceless taxpayers put up the money.
Barcelona, the second-biggest soccer club by sales, will cancel a 250 million-euro ($350 million) stadium redesign by British architect Norman Foster as part of a plan to reduce spending, two people with knowledge of the situation said.
via Barcelona Said to Cancel $350 Million Stadium Redesign by Foster – Bloomberg.com.
October 16, 2010 Leave a comment
Basically, he says that since there is no growth in the demand for goods and services (there are not jobs), as the Fed expands the money supply stocks prices will rise, we might say, artificially. Exports won’t rise since countries are all trying to adjust their exchange rate to their own advantage in the market.
Stocks are up even though the rest of the economy is still down because of money is already so cheap. Bondholders (who can’t get much of any return from their loans) are shifting their portfolios into stocks. Companies are buying back more shares of their own stock. And Wall Street is making more bets in the stock market with money it can borrow at almost zero percent interest.
When our elected representatives can’t and won’t come up with a real jobs program, the Fed feels pressed to come up with a fake one that blows another financial bubble. And we know what happens when financial bubbles get too big.
via Robert Reich: The Fed’s New Bubble (Masquerading as a Jobs Program).
October 16, 2010 1 Comment
A definition of stimulus package politics.
…an inadequate plan combined with a wildly overoptimistic forecast was more or less guaranteed to create the impression of a failed program.
Coral Gables Watch 