Constitutional Amendment No. 1: Collins Center for Public Policy

October 18, 2010 Leave a comment

AT A GLANCE: AMENDMENT 1

Sponsor/Originator: The Florida Legislature

Title on Ballot: Repeal of public campaign financing

requirement

Official Summary: Proposing the repeal of the

provision in the State Constitution that requires

public financing of campaigns of candidates for elective

statewide office who agree to campaign spending limits

What it would do: Amendment 1 would end the

constitutional requirement for taxpayer financing of

political campaigns.

Arguments for: The state is experiencing tight financial

times. It makes no sense to spend taxpayers’ money

to subsidize campaigns when candidates can raise the

money themselves.

Arguments against: The people voted overwhelmingly

for the present public financing requirement 13 years

ago. Public financing reduces the effect of money on

politics and can open the door for candidates to run

without big-money backers.

Filed under Florida

North Miami Debacles

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.

Filed under Miami-Dade County, Nonprofits

Take Note Miami-Dade Gov

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.

Filed under Business and Commerce

Robert Reich Predicts New Bubble

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).

Filed under Economy

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