The Economic Populist
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If the Yuan-dollar exchange rate is that damned important, it shouuld be important enough to China to give a little. Otherwise, maybe we should let the Middle Kingdom experience the dislocations of rural populations moving to the cities to buy good things (apologies to Dick York -- Route 66 fans will understand). If we are all in this together, let's see a little reciprocity -- what is wrong with the CCP undertaking public works, farm to market roads, highways, and free travel for their citizens? If the infrastructure in Shanghai will not support a doubling of population, maybe development projects and transport infrastructure in the hinterlands will "keep 'em down on the farm." Do a little consuming internally and you might not be so export-dependent.
Otherwise, I smell protectionism lurking in the shadows. Maybe a little cultural revolution of a different kind.
It seems this corporate machine riding on a wave of public dissatisfaction is targeting the very Democrats who are not corrupt...
eek.
Well, Bush even did a few trade challenges via the representative and WTO. But I hear ya. Team Obama has no one to blame but themselves and their corporate corruption for being in this current state. They had it all and blew it.
Very doubtful he will do anything at all re: this. He's been the perfect corporatist tool so far. Why would he change? The Dems may very well squeak by in the off-year election and if they do O'Blather will declare victory for his 'policies' and get to work on destroying SS and other wet dreams of the Upper Tenth.
Things are going to get worse before the voters finally tumble to the scam. Obama has been and education for the 'progressive' movement and no messin'.
I think China has some internal problems, their banking 'system' is held together with spit and duct tape, which are going to bite it big time in the very near future. They are not immune to the sort of 'shock and awe' we've seen lately in emerging markets. Of course it helps having their currency grossly undervalued but as I said earlier the like of O'Blather will do nothing about that.
How about creating an account and we do a little "cross posts" in at least the comments?
Angry Bear (Rdan)'s post on no social security increases.
Seems we're hitting different perspectives on these reports so it might help both of our readers to do a little cross linking for a wider view?
Folks reading this, here is some info on CPI-E, from the BLS.
If I can get the raw data, I can create a graph series on CPI-E, but as far as I know, no adjustments, nothing is based on this index?
What's the catfood commission, or what is Peterson Institute doing? Another attack to privatize social security you mean?
Nice summation on the measures, and I would add CPI-E or experimental measure for seniors. Perhaps now, however, right before the catfood commission reports and the Peterson gang going all out, is not the time to fix a minor gliche to smooth adjustments. Even CPI-E has adjustment problems, some which are rectified by adjustments in the donut hole of medicare. (Medical care costs appear to be driving the CPI-W up trend.)
This just was announced the U.S. will take the case against China on alternative energy, green technologies for illegal trade. This is a huge win for U.S. manufacturing, for unfortunately to get any action on illegal tariffs, subsidies, dumping and so on, you have to go through the executive branch, but the Obama administration just announced they are taking it on.
From the AAM:
If you find other useful pieces of help, real help, (to date I've found a lot of false help and we've written about how it's false), please post, at least in a comment so others find out about it.
In terms of changing of the guard, the political ads are so misleading, this season is beyond the pale, with GOP candidates capturing Populist issues, ignoring the fact their party policies will dig us literally to China....
(i.e. they are in bed with the U.S. Chamber of Commerce for one).
Perhaps you should consider learning how to spell and use the Internets instead of asking random websites where to report someone of an particular ethnicity. Last I heard it's not illegal to be of Mexican heritage & ethnicity.
I will give you the benefit of the doubt and assume you mean they are of illegal status and you are aware of this?
If someone is committing a crime, it's a really good idea to understand how to use 9-1-1.
On some website I have seen what purports to be an excerpt from a deposition of one of the officers of MERS. Deponent states that MERS has NO employees - only a board of directors.
I understand the need for the financial institutions to set up a system to track ownership of notes and changes in mortgagees. If they had created MERS and hired people to work there tracking these things and doing all the preparation of the assignment documents, and got them recorded at the county records depts, they'd have been fine.
However, out of pure greed they refused to even hire people to work at MERS, and willfully skipped the required execution of assignments. The sheer arrogance is astonishing - and I've been in financial services for over 20 years.
I can't find adequate words to express the level of my disgust. I am so glad that I no longer work for a bank.
what number do i call to deport a mexican immigrant
This is by far the most informative article I've found on this subject. Thank you Robert for the link, I've been wanting to track our note, but, haven't had a clue where to start.
Our original loan has been sold several times, the bank that issued it is now defunct, so I don't know what that may mean .
As to the solutions offered in the summation. I see congress cowtowing to the banks, declaring MERS as the legal option. Whether this will be the straw that breaks the camel's back I don't know.
If ever there was a reason to follow the instruction of Thomas Jefferson regarding the change of government, I can see no better.
For folks trying to fight fraudulent foreclosures, there is a website, Where's the Note?
(http://www.wheresthenote.com/)
which allows people to locate the holder.
With securitization and trading mortgages like baseball cards, this is a key piece of evidence in order to fight foreclosure.
We could probably use this URL repeated multiple times for homeowners hitting this site.
That's another point, this site pops up a lot in search engines and we have had many, many a desperate person leave a question in an anonymous comment trying to find information.
I believe it's our responsibility to help these people and locate real resources as best we can, so please answer them with the agenda to help regular folks, who are the same as ourselves, find the resources they need.
The pain over time in comments has been extreme, and if we can offer any additional help, resources, clue to help people, let's do it.
If MERS is involved in conspiracy to process fraudulently signed documents in the interest of securitizing them, then maybe they should not be securitized. Why not require all mortgages to be held by the banks that originate them?
Bypassing the recordation process invites fraud. Unwinding this mess should be accompanied by extinguishing the toxic securities. Innovation? No shit!
The trade deficit removed -3.50 percentage points to our lovely 1.7% Q2 2010 GDP. In other words, without the trade deficit Q2 2010 GDP would have been 5.2%. The change to GDP from just imports in Q2 2010 was 16.9%.
So, while you may believe PCE, or C, is 70% of the U.S. economy (GDP) and it is....
and thus increased consumer goods does imply retailers are expecting purchases to rise (and the trade deficit from China is not seasonally adjusted, but I do not know if those imports are correlated to the Christmas consumer purchase pig fest, black friday run your neighbor down seasonal thing) ....i.e. are these imports timed for the U.S. holiday season?
Yet, from the analysis, the thing that tanked last quarter's GDP was the trade deficit.
I think two scary things are the year-to-year decline in nondefense aircraft exports and the beyond belief increase in semiconductors.
Right there, that's previously U.S. manufacturers, the advanced manufacturing, which used to be done in the U.S., being imported. That's advanced manufacturing and that's just not good, not from a U.S. manufacturing view point, the potential growth in semiconductors, technoogy, advanced manufacturing and how we don't have enough of that pie anymore, and then security issues that goes with technology being offshore outsourced.
I don't like those numbers Sam I am. Advanced manufacturing begets more advanced manufacturing, advanced R&D, "jobs of tomorrow". We need FABS (plants that make computer chips) built in the U.S., advanced R&D, advanced manufacturing in the U.S.
The "C" thing, or consumer, PCE, this is an interesting question that I'll have to dig around more into...
Since it's cheap plastic crap from China coming in as consumer goods....in terms of just the "C" or PCE in GDP, what percentage of that is imports from China?
In other words, we know that the trade deficit walloped last quarter GDP, but how much of imports is negated (in terms of GDP, not in terms of the real economy, because obviously buying cheap plastic toys and plastic bins from China on your MC or VISA card isn't doing much for the real economy beyond keeping Walmart and lowly paid retail blue smock workers going) ...
by consumer purchases, i.e C or PCE?
If you have a credible link on the correlation between consumer goods as imports vs. PCE on a domestic level, I'd like to see it, for ya know, is simply buying a bunch of cheap plastic crap on our plastic cards real economic growth?
Really good report! In my opinion, the number of 46,3 $ billion presents one of the biggest risks at the very moment. “The largest increase in imports was consumer goods, $1.4 billion” – it´s a very important finding, because consumer goods initializes the sophisticated mechanism of increase GDP or also an inflation. On the other hand, poor export is not a hopeful signal for the balanced budget.
This is the best explanation of this mess!
Econopicdata has a nice graph, showing the wealth distribution in the U.S. has declined from #1 to #7.
I didn't see any auto companies on the CEO excessive pay list beyond Ford was on there. AIG was on one of the lists.
But GM no. Of all of the bail outs, the GM bail out seems to be the most successful. Now they labor arbitrage, offshore outsource and so on, but on the scale of things, last I heard they are turning the company around....
Now Citigroup, on the other hand....I mean they seriously did offshore outsource jobs under the cover of financial Armageddon...
just like so many tech companies did under the dot con bust excuse.
Nobody is paying engineers excessively, it's executives...the engineers are the ones who invent, do the work, do the design and it seems to me they are being poo pooed financially, in spite of the strong dependencies on the success or failure of a company...
except for those building flash trading platforms and algorithms, they are paying their geeks what they are worth, unlike Silicon valley.
(not that this is too great for the markets or investors, but on pay scale, they are paying the STEM people (these are the R&D/design people vs. I.T. who they are offshore outsourcing their jobs on), much more than what you can get in Silicon valley.
We have Republicans using Populist issues when their policies and agendas are even more corporate corrupt. We have a "grassroots" (corporate sponsored of course) Tea Party who has taken those corporate lobbyist ideas and made them even worse.
Even if you manage to get some representatives into Congress who would vote on the facts, stats and good ideas, what works...
the Congressional leadership (both sides) will not let good policies/bills/legislation get a vote on the floor, the control of Congress goes to "party leaders" as well as Committee chairs...
and then we have Obama. Now why anyone believed he would ever push for policies like the above is beyond me, but in my opinion, he never was this "Progressive" so many deluded themselves into thinking he was.
I guess a key would get Majority leaders, committee chairs who weren't corrupt, demand that they put committee chairs to those who know what they are talking about and are not corrupt, not seniority, not favoritism and also change the rules to enable more bills to get to the floor..
But bottom line is we cannot get one line of legislation through Congress that wasn't corporate written or it's extremely difficult.
Believe it or not, I think Bernie Sanders has managed to get some amendments through and how he does that, I really don't know, but of course corporate lobbyists go after even those after the bill has passed, through conferees (as we saw with financial reform).
It seems beyond the reforms most are talking about, public financing and so on, Congress and how it works needs dramatic reforms so sane legislation, built on actual facts and theory to work have a prayer's chance.
I think part of the pay czar's function was to finish off the auto companies. Notice they had to abide by restrained executive compensation rules, while at the same time Obama was saying we cannot hurt the banks ability to attract the best talent (i.e. gamblers) by limiting their executive compensation. So GM can't hire good executives and engineers to help fix their company because Obama says they need to adhere to some rules in exchange for the gov't saving 2 million jobs and 3 million pensioners. But you lose 8 million jobs gambling with taxpayer money and they get rewarded.
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