Of course she thinks the Financial reform bill is enough, but it is true much is less up to regulators..
But one thing I noticed in this interview is the FDIC scaling insurance fees for the deposit insurance fund to executive compensation and corporate governance.
As you probably know, we've had zero reforms on executive compensation, corporate governance and it's obviously a new executive class pig fest..
So, this is very interesting that the FDIC would take it on and tie it to insurance fund costs.
The oil drum has a good update summary for Jun 25th. They are noticing what I am, that when they replaced the cap, a lot less oil is escaping. They are making good process on capturing most of the oil at the source now but the real final one is putting the permanent cap on, which happens next week.
The problem with stating there is much less oil escaping from the cap is the cameras. They are not at the top of the cap, but there are additional riser pipes now around the cap, sucking up the oil in a reverse top kill process.
Regardless, no way to fake out the less amount of oil gushing, previously it was from every camera angle. (unless someone is doctoring the video feeds after the fact and then they wouldn't be live...wouldn't put it past BP!)
So of course, during the interim, we have a tropical storm, looking to become a hurricane, entering the gulf of Mexico.
If gale force winds hit that area, they must shut it all down. The current trajectory implies it's going to miss the spill site, but hurricanes can be hundreds of miles wide and gale force winds are on the out stretches of a hurricane.
I sure as hell hope they can get that permanent cap in place and capture all of the spill.
That's a huge first step, although reports are pouring in on how BP is short changing the clean up, not buying technologies that will do the job, not hiring people willing to do the work and supplies are running low. Still, supposedly refusal to let other nations, clearly U.S. allies, help too.
That's a friggin' crime but at least on the containment side we're seeing some progress.
The relief wells are very close but that's also a crap shoot. They are using magnetic fields to locate the well but realize many experts have said the well itself is damaged, so .....
Also, the drilling ban, it's only 33 wells, that are thousands of production wells. Drilling or exploration, isn't the same thing as production.
Just a side comment but it looks like "dot city" the amount of production wells in the gulf....so why is it ok to drill there, in such a sensitive environmental area, where the U.S. seafood comes from and so on...yet not ok to drill in the frozen arctic tundra? Notice that? ANWR is off limits yet we never really heard about the gulf, with all of these critical ecosystems?
It really escalated with the signing of the China PNTR. But it started in earnest with NAFTA. We have some great sites/groups focusing in on U.S. manufacturing and their blogs are listed on the left hand column. One of the most shocking but why I write about it now so often, was just how much China's currency manipulation has wiped out U.S. manufacturing. Basically researchers have shown, if just currency manipulation was stopped, not even all of the other trade abuses....it could correct the trade imbalance with China. That's astounding to me.
Firstly, the reason the GOP killed UI extension is because they want to continue to offshore outsource American jobs. That's per their corporate lobbyist puppet masters. The bill has modification of the U.S. corporate tax code to remove the profits and incentives for offshore outsourcing of U.S. jobs...
Corporations, multinational corporations are adamantly against these changes because they want to offshore outsource U.S. jobs and want those tax incentives to do so!
Secondly, I do not categorize that Obama "Stimulus" as Keynes. Keynes required all Gov. Stimulus spending to stay within that domestic economy. That's buy American and hire America in order to work. Keynes also was "bottom up" income. In other words bonds and tax cuts are not Keynes.
They didn't do that.
Thirdly, I've seen a lot of direct jobs programs. Some would work, would give the most bang for the buck and also help rebuild America.
Others are disaster, would end up giving the entire global labor market a job guarantee by the refusal to realize a domestic economy cannot take on the global workforce and offer a job guarantee.
Still others are glorified labor arbitrage in disguise. A promise of a one time payment plus a lessor job after they offshore outsource your real job along with the skill set you acquired to perform that job. It's a Judas kiss agenda to further advance global labor arbitrage.
So, I don't know what direct jobs program you're talking about from this post. I went to your website and I couldn't locate specifics.
When 'Buy American' would have made a difference in the 60's, 70's and 80's people sided with 'costs less' and despite a poll that says otherwise people are voting with their wallets just the opposite way.
US Manufacturing was gutted a long time ago, except of course US Prison labor which is competitive - Unicore.
hell yea we should send the bills to dc cuz they have enough money to pay for everyones bills. if the government stop using our money for parties and other things we could have enough. one plate at a dinner party probably cost more than the cost of my rent for a year. why do they have to eat out of a plate that costs thousands of dollars. im pretty sure they have dollar general stores in dc as well. they live in these big fansy houses with 15 bedrooms and 8 bathrooms and 5 living areas in which most of them are not even walked in more or less used. well my opinion is if the government stop using up all the money for silly things then it would be enough. in bennettsville sc they have been working on roads for years and they still arent complete. the boulevard has been two lanes for over a half century. why change it now. so what if you get there 20 mins later. whats the point of extending the lanes when there wont be anyone to ride on them cuz of the lack of funds. i could go on and on bout this screwed up government but why waste my time. please so explain what are we voting for cuz our votes arent counted for anything. yall are making all this money and for what, nothing. nothing is getting done. all it takes is a simple signature. we dont care you can sign donald duck at the bottom if you want. you are the government. im wondering if youall need some help because i am jobless and would love to come work for you. eveidently work is not getting done. you all dont care cuz you have your 3 and 4 houses while we are trying to get the first. you have a vacation home, summerhome, winter home, home home, and all we have is a rundown apartment. what does this goernment have to say for itself. well i can say a few things but it would be inappropiate so im going to just leave it at that. way to go government for doing the best job ever with screwing up the country. one question though, how does a country that make its own money not have any?
Well I have been a life long Republican, until now.. Since they like the word NO so well. I personally think I will echo that word on my November ballot...
Republican's want my vote... I'll just say NO.
I em completely convinced the Republican's have absolutely NO wish to compromise, to debate.. Because of this attitude Washington can't work for us..
No, This November when it comes to any republican at all Just Say NO... I have been watching Cspan during this and I'm truly ashamed, and dismayed at their attitudes..
Friends don't let friends vote Republican.. Just say NO..That's the only word they seem to know the meaning of
Is there a chart with a correlation between deficit spending/debt levels and GDP?
Certainly whats going on at the Federal level and whats going on in states, cities and towns is dramatically different.
DC I'm certain is booming compared to the rest of the country. It has the second lowest unemployment rate among metro areas and the real estate market there while down is not bad comparatively.
Your analysis is on the money at the federal level I was just comparing the economies within the economy which can't print their own money, can't borrow what they can't repay etc etc.
If a state actually goes under will the Fed bail them out the same way they printed money to bail out other countries?
The Alliance for American Manufacturing has just cited a new poll showing that despite all the things that Americans disagree about, Americans agree on the 'Make It Here' mantra.
It is surprising and almost shocking the way this cuts across ideology and partisan politics. There is huge and broad agreement on the subject not seen since folks wanted to end the Vietnam War. The people, as usual, are way ahead of the Pols. That is an 86% majority
That is positive if by 'people' we include the Big Manufacturers. The 14% of diehard Globalists must include the Business Roundtable and the Washington think tanks. Globalism is on the run.
On these pages, we undertand Globalism and democracy to be on a collision course, and in the end, only one wins
Allegedly for lack of alternatives, our government has just announced the increase to 24% of VAT on goods and services, effective from July 1, besides the 25% cut in public wages agreed earlier with the IMF. This will lead to higher inflation and unemployment, and obviously shatters any prospects for a quick recovery.
No actions however to address massive, EU-condoned corruption by government, banks or industry, which drains billions each year, which is a lot for a small country.
Felt the urge to reply as this was about my country :-)
George
Then, there are tropical storms forming in the gulf. They don't know the trajection path yet. A Hurricane will assuredly be the final nail in the oil soaked gulf coffin.
No update after they fixed the cap on how much oil is being collected. Spill cam looks improved.
But what does it matter if the clean up is a disaster. I cannot believe they are not giving these people breathing gear. Imagine any sea life living through that. I can't.
I don't think so. My thing has been a direct jobs program, infrastructure jobs and a host of revamping other policies to kick start start ups (and it sure isn't some absurd capital gains holiday, this is raw funds, a federal "VC" or a ramp/change of the SBA) and to give funds for new ventures in key technologies and new industries.
I said I liked the AAM plan especially because they clearly made conditions be "buy American and hire America", which is Keynesian, so it would have given much more bang for the buck.
So, borrowing more money even with a subsidy is akin to tax cuts when one has no income....
The bonds designed by the U.S. government to help municipalities recover from the worst recession since the Great Depression may cost them millions of dollars in unforeseen borrowing costs instead of saving them money.
The causes of a city's bankruptcy shouldn't be surprising - it's basically a case of sustained budget deficits. As cities spend more than they take in, they have to rely on debt to finance their operations. While that's a common practice in the short term, it's a scenario that can quickly spiral out of control - particularly when economic headwinds are factored into the equation.
Common causes of municipal bankruptcies include the loss of key tax revenues or mounting expenses from pensions, lawsuits or debt maturities.
Even as the U.S. appears to be on the mend -- gross domestic product has climbed three straight quarters -- finances in Arizona, Illinois, New Jersey, New York and other states show few signs of improvement. Forty-six states face budget shortfalls that add up to $112 billion for the fiscal year ending next June, according to the Center on Budget and Policy Priorities, a Washington research institution. State spending is 12 percent of U.S. GDP.
But I'm saying the current issues right now are massive and it's due to the Banksters, the Federal Reserve, especially policies like trade and general erosion of labor rights, work in the U.S.
I think it's pretty obvious what I think about what the government has been doing lately but that will not get me to claim the GDP equation is not what it is.
How about looking at the many other posts and all of the rest of the stuff going on.
Public employees are just not the problem if you see the big picture.
You are applying a value to services that I may not want, need or use.
So according to that logic no one should gripe about anything the government does because any government spending stimulates the economy.
War in Iraq & Afghanistan? No problem the government says its good and we need it. I'd rather that money was spent in the US but the government knows best.
Now Obama is begging Europe and Japan to spend spend spend so eyeballs don't start looking this way.
What you are basically saying is government can never be too large and what I am saying is government is too large already and needs some tweaking. Its not a matter of 'I don't get it'.
Unreal! They tried to claim it was about the deficit! It's not about the deficit, it's about closing tax loopholes so corporations get tax rebates for offshore outsourcing U.S. jobs.
They don't want that stopped. It has nothing to do with deficits as evidenced by their refusal to do anything about Fannie Mae or Freddie Mac or pick a money hemorrhage issue.
It's astounding. I'm watching ABC news and they are just lying their heads off on what is in this bill. It's unbelievable. So, now only did lobbyists ruin financial reform the press is busying spreading outright lies about what the bill does.
Sorry but it's true, it is both offshore outsourcing AND insourcing that are creating a problem. It's pretty obvious too, if one has wage repression, undercutting and an oversupply, unlimited labor supply that will displace existing workers and lower wages.
By way of Economists View
Of course she thinks the Financial reform bill is enough, but it is true much is less up to regulators..
But one thing I noticed in this interview is the FDIC scaling insurance fees for the deposit insurance fund to executive compensation and corporate governance.
As you probably know, we've had zero reforms on executive compensation, corporate governance and it's obviously a new executive class pig fest..
So, this is very interesting that the FDIC would take it on and tie it to insurance fund costs.
Silver linings in massive storm clouds.
YOU SAID IT ALL
The oil drum has a good update summary for Jun 25th. They are noticing what I am, that when they replaced the cap, a lot less oil is escaping. They are making good process on capturing most of the oil at the source now but the real final one is putting the permanent cap on, which happens next week.
The problem with stating there is much less oil escaping from the cap is the cameras. They are not at the top of the cap, but there are additional riser pipes now around the cap, sucking up the oil in a reverse top kill process.
Regardless, no way to fake out the less amount of oil gushing, previously it was from every camera angle. (unless someone is doctoring the video feeds after the fact and then they wouldn't be live...wouldn't put it past BP!)
So of course, during the interim, we have a tropical storm, looking to become a hurricane, entering the gulf of Mexico.
If gale force winds hit that area, they must shut it all down. The current trajectory implies it's going to miss the spill site, but hurricanes can be hundreds of miles wide and gale force winds are on the out stretches of a hurricane.
I sure as hell hope they can get that permanent cap in place and capture all of the spill.
That's a huge first step, although reports are pouring in on how BP is short changing the clean up, not buying technologies that will do the job, not hiring people willing to do the work and supplies are running low. Still, supposedly refusal to let other nations, clearly U.S. allies, help too.
That's a friggin' crime but at least on the containment side we're seeing some progress.
The relief wells are very close but that's also a crap shoot. They are using magnetic fields to locate the well but realize many experts have said the well itself is damaged, so .....
Also, the drilling ban, it's only 33 wells, that are thousands of production wells. Drilling or exploration, isn't the same thing as production.
Just a side comment but it looks like "dot city" the amount of production wells in the gulf....so why is it ok to drill there, in such a sensitive environmental area, where the U.S. seafood comes from and so on...yet not ok to drill in the frozen arctic tundra? Notice that? ANWR is off limits yet we never really heard about the gulf, with all of these critical ecosystems?
It really escalated with the signing of the China PNTR. But it started in earnest with NAFTA. We have some great sites/groups focusing in on U.S. manufacturing and their blogs are listed on the left hand column. One of the most shocking but why I write about it now so often, was just how much China's currency manipulation has wiped out U.S. manufacturing. Basically researchers have shown, if just currency manipulation was stopped, not even all of the other trade abuses....it could correct the trade imbalance with China. That's astounding to me.
Firstly, the reason the GOP killed UI extension is because they want to continue to offshore outsource American jobs. That's per their corporate lobbyist puppet masters. The bill has modification of the U.S. corporate tax code to remove the profits and incentives for offshore outsourcing of U.S. jobs...
Corporations, multinational corporations are adamantly against these changes because they want to offshore outsource U.S. jobs and want those tax incentives to do so!
Secondly, I do not categorize that Obama "Stimulus" as Keynes. Keynes required all Gov. Stimulus spending to stay within that domestic economy. That's buy American and hire America in order to work. Keynes also was "bottom up" income. In other words bonds and tax cuts are not Keynes.
They didn't do that.
Thirdly, I've seen a lot of direct jobs programs. Some would work, would give the most bang for the buck and also help rebuild America.
Others are disaster, would end up giving the entire global labor market a job guarantee by the refusal to realize a domestic economy cannot take on the global workforce and offer a job guarantee.
Still others are glorified labor arbitrage in disguise. A promise of a one time payment plus a lessor job after they offshore outsource your real job along with the skill set you acquired to perform that job. It's a Judas kiss agenda to further advance global labor arbitrage.
So, I don't know what direct jobs program you're talking about from this post. I went to your website and I couldn't locate specifics.
Devil is in the details.
When 'Buy American' would have made a difference in the 60's, 70's and 80's people sided with 'costs less' and despite a poll that says otherwise people are voting with their wallets just the opposite way.
US Manufacturing was gutted a long time ago, except of course US Prison labor which is competitive - Unicore.
hell yea we should send the bills to dc cuz they have enough money to pay for everyones bills. if the government stop using our money for parties and other things we could have enough. one plate at a dinner party probably cost more than the cost of my rent for a year. why do they have to eat out of a plate that costs thousands of dollars. im pretty sure they have dollar general stores in dc as well. they live in these big fansy houses with 15 bedrooms and 8 bathrooms and 5 living areas in which most of them are not even walked in more or less used. well my opinion is if the government stop using up all the money for silly things then it would be enough. in bennettsville sc they have been working on roads for years and they still arent complete. the boulevard has been two lanes for over a half century. why change it now. so what if you get there 20 mins later. whats the point of extending the lanes when there wont be anyone to ride on them cuz of the lack of funds. i could go on and on bout this screwed up government but why waste my time. please so explain what are we voting for cuz our votes arent counted for anything. yall are making all this money and for what, nothing. nothing is getting done. all it takes is a simple signature. we dont care you can sign donald duck at the bottom if you want. you are the government. im wondering if youall need some help because i am jobless and would love to come work for you. eveidently work is not getting done. you all dont care cuz you have your 3 and 4 houses while we are trying to get the first. you have a vacation home, summerhome, winter home, home home, and all we have is a rundown apartment. what does this goernment have to say for itself. well i can say a few things but it would be inappropiate so im going to just leave it at that. way to go government for doing the best job ever with screwing up the country. one question though, how does a country that make its own money not have any?
in a world gone mad. Support The Realignment Project!
Well I have been a life long Republican, until now.. Since they like the word NO so well. I personally think I will echo that word on my November ballot...
Republican's want my vote... I'll just say NO.
I em completely convinced the Republican's have absolutely NO wish to compromise, to debate.. Because of this attitude Washington can't work for us..
No, This November when it comes to any republican at all Just Say NO... I have been watching Cspan during this and I'm truly ashamed, and dismayed at their attitudes..
Friends don't let friends vote Republican.. Just say NO..That's the only word they seem to know the meaning of
Is there a chart with a correlation between deficit spending/debt levels and GDP?
Certainly whats going on at the Federal level and whats going on in states, cities and towns is dramatically different.
DC I'm certain is booming compared to the rest of the country. It has the second lowest unemployment rate among metro areas and the real estate market there while down is not bad comparatively.
Your analysis is on the money at the federal level I was just comparing the economies within the economy which can't print their own money, can't borrow what they can't repay etc etc.
If a state actually goes under will the Fed bail them out the same way they printed money to bail out other countries?
The Alliance for American Manufacturing has just cited a new poll showing that despite all the things that Americans disagree about, Americans agree on the 'Make It Here' mantra.
http://www.americanmanufacturing.org/newscenter
It is surprising and almost shocking the way this cuts across ideology and partisan politics. There is huge and broad agreement on the subject not seen since folks wanted to end the Vietnam War. The people, as usual, are way ahead of the Pols. That is an 86% majority
That is positive if by 'people' we include the Big Manufacturers. The 14% of diehard Globalists must include the Business Roundtable and the Washington think tanks. Globalism is on the run.
On these pages, we undertand Globalism and democracy to be on a collision course, and in the end, only one wins
Allegedly for lack of alternatives, our government has just announced the increase to 24% of VAT on goods and services, effective from July 1, besides the 25% cut in public wages agreed earlier with the IMF. This will lead to higher inflation and unemployment, and obviously shatters any prospects for a quick recovery.
No actions however to address massive, EU-condoned corruption by government, banks or industry, which drains billions each year, which is a lot for a small country.
Felt the urge to reply as this was about my country :-)
George
Naked Capitalism has an account.
Then, there are tropical storms forming in the gulf. They don't know the trajection path yet. A Hurricane will assuredly be the final nail in the oil soaked gulf coffin.
No update after they fixed the cap on how much oil is being collected. Spill cam looks improved.
But what does it matter if the clean up is a disaster. I cannot believe they are not giving these people breathing gear. Imagine any sea life living through that. I can't.
I don't think so. My thing has been a direct jobs program, infrastructure jobs and a host of revamping other policies to kick start start ups (and it sure isn't some absurd capital gains holiday, this is raw funds, a federal "VC" or a ramp/change of the SBA) and to give funds for new ventures in key technologies and new industries.
I said I liked the AAM plan especially because they clearly made conditions be "buy American and hire America", which is Keynesian, so it would have given much more bang for the buck.
So, borrowing more money even with a subsidy is akin to tax cuts when one has no income....
Build America Bonds May Push Cities to Bankruptcy
What Happens When Cities Go Broke?
If States Printed Their Own Money Their GDP's Would Grow Also
But I'm saying the current issues right now are massive and it's due to the Banksters, the Federal Reserve, especially policies like trade and general erosion of labor rights, work in the U.S.
I think it's pretty obvious what I think about what the government has been doing lately but that will not get me to claim the GDP equation is not what it is.
How about looking at the many other posts and all of the rest of the stuff going on.
Public employees are just not the problem if you see the big picture.
You are applying a value to services that I may not want, need or use.
So according to that logic no one should gripe about anything the government does because any government spending stimulates the economy.
War in Iraq & Afghanistan? No problem the government says its good and we need it. I'd rather that money was spent in the US but the government knows best.
Now Obama is begging Europe and Japan to spend spend spend so eyeballs don't start looking this way.
What you are basically saying is government can never be too large and what I am saying is government is too large already and needs some tweaking. Its not a matter of 'I don't get it'.
Unreal! They tried to claim it was about the deficit! It's not about the deficit, it's about closing tax loopholes so corporations get tax rebates for offshore outsourcing U.S. jobs.
They don't want that stopped. It has nothing to do with deficits as evidenced by their refusal to do anything about Fannie Mae or Freddie Mac or pick a money hemorrhage issue.
It's astounding. I'm watching ABC news and they are just lying their heads off on what is in this bill. It's unbelievable. So, now only did lobbyists ruin financial reform the press is busying spreading outright lies about what the bill does.
Sorry but it's true, it is both offshore outsourcing AND insourcing that are creating a problem. It's pretty obvious too, if one has wage repression, undercutting and an oversupply, unlimited labor supply that will displace existing workers and lower wages.
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