"Imagine a million-car pileup on the highway. Nobody moves. That’s
the housing foreclosure breakdown: houses stalled, waiting on the
housing market highway.
The cause of the pileup, like the cause of most pileups, is
volume. Too many mortgages have broken…"
Tuesday, November 30, 2010
The Foreclosure Pileup More Bad News For The US Economy | All Global News on One Page
The Foreclosure Pileup More Bad News For The US Economy | All Global News on One Page:
Buyers Flock To Ridiculously Small Homes During Downturn (PHOTOS)
Buyers Flock To Ridiculously Small Homes During Downturn (PHOTOS):
"GRATON, Calif.:(By Terence Chea, AP) As Americans downsize in the aftermath of a colossal real estate bust, at least one tiny corner of the housing market appears to be thriving. To save money or simplify their lives, a small but growing number of Americans are buying or building homes that could fit inside many people's living rooms, according to entrepreneurs in the small house industry"
Susan Boyle messes up on ABC ’The View’: Nerves catch up with her (Watch here) - National Celebrity Headlines | Examiner.com
Susan Boyle messes up on ABC ’The View’: Nerves catch up with her (Watch here) - National Celebrity Headlines | Examiner.com: "Susan Boyle was on ABC The View this morning and she choked. Call it what you want, the entertainer has been under a lot of pressure to perform and she didn't have all her marbles in the bag this morning. The epic fail event just reminds us all just how tough the entertainment business is, even if we are prepared."
Home Values Decline in Third Quarter | RealEstateRama
Home Values Decline in Third Quarter | RealEstateRama:
"The Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series for the United States registered a 1.9 percent decrease (-7.4 percent annualized) in the third quarter relative to the second quarter on a not-seasonally-adjusted basis. U.S. home values fell 3.1 percent relative to the third quarter a year ago."
Google news stilll going strong: Celebrity Columnist shares secret to becoming a Google News Sensation
ARticle staying in Google news - It is on how to earn money online writing for Examiner:
Celebrity Columnist shares secret to becoming a Google News Sensation - Tucson Celebrity | Examiner.com: "November 18, 2010 - Of all the secret strategies, this video is the one that can make your or break you. Leaked video number 4 found today, was recorded by Celebrity Columnist Jodi Jill. People wonder how Jodi achieves such a high volume of readers, she has the tips on how you can become an International news writing sensation. Where is your audience? Have you gone 'International' yet?. This video gives you tips on how to become a news sensation, getting into Google news. This is a unique tip that is seldom shared, the value of this advice is priceless. Take the time to learn how to work with the tools described in the Share the Wealth program."
Celebrity Columnist shares secret to becoming a Google News Sensation - Tucson Celebrity | Examiner.com: "November 18, 2010 - Of all the secret strategies, this video is the one that can make your or break you. Leaked video number 4 found today, was recorded by Celebrity Columnist Jodi Jill. People wonder how Jodi achieves such a high volume of readers, she has the tips on how you can become an International news writing sensation. Where is your audience? Have you gone 'International' yet?. This video gives you tips on how to become a news sensation, getting into Google news. This is a unique tip that is seldom shared, the value of this advice is priceless. Take the time to learn how to work with the tools described in the Share the Wealth program."
Monday, November 29, 2010
ZAGAT releases Airline Survey!
November 30, 2010: Zagat release survey about Consumer attitudes towards Airlines and Flying . Conducted on ZAGAT.com, the survey is based on over 8,000 frequent fliers who collectively took 139,300 flights in the past year.
Economy: While the industry continues to feel the effects of the recession, it has shown signs of recovery this year. Surveyors reported taking an average of 17.4 flights in 2010, which is up from 16.6 flights in 2009 and 16.3 in 2008. This is still below the all-time high of 19.7 in 2007. Business flights continue to outweigh leisure, by roughly 3-to-2.
Checking-In: When asked how they react to fees for checked luggage, 45% of surveyors say they try to avoid flying such airlines; 42% say they have frequent flyer status on an airline that waves luggage fees; 33% say they travel only with a carry-on and 18% grudgingly opt to pay the fees. Southwest Airlines is a favorite among surveyors, winning Best Check-in Experience, as well as Best Luggage Policy, Best Consumer On-Time Estimates, Top Website and Best Value among domestic airlines.
"While fliers are slowly but surely returning to the skies, they remain focused on good values and reliable service," said Tim Zagat, CEO of Zagat Survey. "Airlines like Virgin America, Southwest, JetBlue and Continental score well with surveyors for precisely this reason."
Flying High: For the third year in a row, Continental is the Top Overall winner among large domestic airlines for its premium service. JetBlue took top honors among large economy class carriers. Virgin America is the top mid-sized carrier for both classes, earning 24 on Zagat's 30-point scale for its premium service, and 21 for economy. International carriers continue to outperform domestic airlines. Singapore Airlines, the perennial winner, earned an impressive 28 rating for international premium class airlines and 24 for international economy service. Other international winners were Cathay Pacific Airways,Emirates Airlines and Qatar Airways, all rated a 26 for premium services.
Choice Factors: When choosing a flight, respondents' main considerations are not surprising: direct routes (65%), ticket price (55%), past experiences (50%), time of day (48%) and seat comfort/leg room (46%). If a meal is not offered on the flight, and most aren't, 55% of surveyors opt to purchase food in the airport, while 18% bring food from home.
Just a few of the comments that were comical, which Zagat published:
- PBS...paralyzed butt syndrome!
- The only difference between economy and business classes is a shrimp on your salad.
- "Unwelcome aboard!"
- Not sure if I really want to know that Captain Skippy is flying today.
- I don't love getting up-close-and-personal with the head of the person in front of me .
- Who made them mad at their customers?
- Point a to point b with a bag of pretzels.
- Entree selections should be labeled "choose your poison"
- When two crummy medium-size airlines merge, all you get is a crummy large airline.
- Seats make an iron maiden seem comfortable.
- Like a cattle car, except the cows are mercifully slaughtered at trip's end.
Sales could top $1 billion on a manic Cyber Monday - Yahoo! News
Sales could top $1 billion on a manic Cyber Monday - Yahoo! News: "NEW YORK – Cyber Monday started as a gimmick to get people to shop at their desks on the first workday after Thanksgiving. But if you promote something enough, it can take on a life of its own.
This year, stores swamped customers with online ads and e-mail deals, and sales could top $1 billion, making it bigger than any single shopping day last year.
Online sales were already running 15 percent ahead of last year's by 3 p.m. Monday, with the biggest shopping hours of the day still to come, according to IBM's Coremetrics tracking service.
'The numbers are really strong,' said the service's chief strategy officer, John Squire, who added that he expects Cyber Monday to be the biggest online shopping day of the season."
This year, stores swamped customers with online ads and e-mail deals, and sales could top $1 billion, making it bigger than any single shopping day last year.
Online sales were already running 15 percent ahead of last year's by 3 p.m. Monday, with the biggest shopping hours of the day still to come, according to IBM's Coremetrics tracking service.
'The numbers are really strong,' said the service's chief strategy officer, John Squire, who added that he expects Cyber Monday to be the biggest online shopping day of the season."
Sales could top $1 billion on a manic Cyber Monday - Yahoo! News
Sales could top $1 billion on a manic Cyber Monday - Yahoo! News: "NEW YORK – Cyber Monday started as a gimmick to get people to shop at their desks on the first workday after Thanksgiving. But if you promote something enough, it can take on a life of its own.
This year, stores swamped customers with online ads and e-mail deals, and sales could top $1 billion, making it bigger than any single shopping day last year.
Online sales were already running 15 percent ahead of last year's by 3 p.m. Monday, with the biggest shopping hours of the day still to come, according to IBM's Coremetrics tracking service.
'The numbers are really strong,' said the service's chief strategy officer, John Squire, who added that he expects Cyber Monday to be the biggest online shopping day of the season."
This year, stores swamped customers with online ads and e-mail deals, and sales could top $1 billion, making it bigger than any single shopping day last year.
Online sales were already running 15 percent ahead of last year's by 3 p.m. Monday, with the biggest shopping hours of the day still to come, according to IBM's Coremetrics tracking service.
'The numbers are really strong,' said the service's chief strategy officer, John Squire, who added that he expects Cyber Monday to be the biggest online shopping day of the season."
Obama calls for 2-year freeze on federal pay - Yahoo! News
Obama calls for 2-year freeze on federal pay - Yahoo! News: "WASHINGTON – President Barack Obama on Monday proposed a two-year freeze of the salaries of some 2 million federal workers, trying to seize the deficit-cutting initiative from Republicans with a sudden, dramatic stroke. Though signaling White House concern over record deficits, the freeze would make only a tiny dent in annual deficits or the nation's $14 trillion debt.
'Small businesses and families are tightening their belts,' Obama said in brief remarks at the White House. 'The government should, too.' The administration said the plan was designed to save more than $5 billion over the first two years.
The proposal, which must be approved by Congress, would not apply to the military, but it would affect all others on the Executive Branch payroll. It would not affect members of Congress or their staffs, defense contractors, postal workers or federal court judges and workers."
'Small businesses and families are tightening their belts,' Obama said in brief remarks at the White House. 'The government should, too.' The administration said the plan was designed to save more than $5 billion over the first two years.
The proposal, which must be approved by Congress, would not apply to the military, but it would affect all others on the Executive Branch payroll. It would not affect members of Congress or their staffs, defense contractors, postal workers or federal court judges and workers."
familys-fall-from-affluence-is-swift-and-hard: Personal Finance News from Yahoo! Finance
familys-fall-from-affluence-is-swift-and-hard: Personal Finance News from Yahoo! Finance: "Grateful to have found work in this tough economy, Nick Martin teaches grape growing and winemaking each Saturday to a class of seven students in a simple metal building here at a satellite campus of Highland Community College.
Then he drives 14 miles in an 11-year-old Ford Explorer to a sparsely furnished tract house that he rents for $900 a month on a dead-end street in McFarland, a smaller town. Just across the backyard is a shed that a neighbor uses to make cartridges for shooting the prairie dogs that infest the adjacent fields.
It is a far cry from the life that Mr. Martin and his family enjoyed until recently at their Adirondacks waterfront camp at Tupper Lake, N.Y. Their garage held three stylish cars, including a yellow Aston Martin; they owned three horses, one that cost $173,000; and Mr. Martin treated his wife, Kate, to a birthday weekend at the Waldorf-Astoria, with dinner at the '21' Club and a $7,000 mink coat."
Then he drives 14 miles in an 11-year-old Ford Explorer to a sparsely furnished tract house that he rents for $900 a month on a dead-end street in McFarland, a smaller town. Just across the backyard is a shed that a neighbor uses to make cartridges for shooting the prairie dogs that infest the adjacent fields.
It is a far cry from the life that Mr. Martin and his family enjoyed until recently at their Adirondacks waterfront camp at Tupper Lake, N.Y. Their garage held three stylish cars, including a yellow Aston Martin; they owned three horses, one that cost $173,000; and Mr. Martin treated his wife, Kate, to a birthday weekend at the Waldorf-Astoria, with dinner at the '21' Club and a $7,000 mink coat."
Small Banks Suffer, As Banking Industry Strengthens
Small Banks Suffer, As Banking Industry Strengthens:
"As the banking industry as a whole grows stronger, smaller banks are missing out on a recovery, a new report from the FDIC shows. Weakened local banks could signal trouble for small business."
House Flippers: The Forgotten “Victims” Of The Real Estate Implosion - 24/7 Wall St.
House Flippers: The Forgotten “Victims” Of The Real Estate Implosion - 24/7 Wall St.:
"Though several banks including Bank of America (NYSE: BAC) and housing finance giant Fannie Mae have restarted at least some foreclosures, the process has been irrevocably tainted by the industry’s apparent willingness to put profits above the law. Their legal exposure may be gigantic — billions of dollars — particularly if courts find that they improperly evicted people from their residences. Not only could the foreclosure be reversed, but they could face punitive damages as could the realtors and attorneys involved in the transaction.
But what about the people who bought these homes? That’s where things get a little dicey. Clearly, their rights were violated as well. But in the legal tsunami created by the robo-signed documents, they should be last in the pecking order. Many of them, particularly sophisticated investors looking for a quick flip, probably knew or should have known that something was amiss. How is it that the foreclosure process — which is purposely cumbersome to protect the rights of homeowners — suddenly became streamlined? What about the same people’s names appearing in hundreds of documents? That did raise any red flags either."
Officials: New Foreclosure Scam Preys on Desperate Homeowners - ABC News
Officials: New Foreclosure Scam Preys on Desperate Homeowners - ABC News:
"U.S. Loan Auditors and similar outfits are promising to conduct 'forensic audits' of mortgage transactions to find evidence of 'predatory lending' and fraud, and use that evidence to haul lenders into court and obtain new mortgages at far more favorable interest rates, officials say.
The companies make 'very bold claims' but 'in most cases forensic loan audits cannot help homeowners to cancel their mortgages,' said James Reilly Dolan, assistant director for financial practices at the Federal Trade Commission."
Foreclosure "robo-signing" scandal impact: Sales dry up - Nov. 29, 2010
Foreclosure "robo-signing" scandal impact: Sales dry up - Nov. 29, 2010:
"NEW YORK (CNNMoney.com) -- Big banks are having trouble restarting the foreclosure process after this fall's 'robo-signing' scandal, and the once booming market for foreclosed homes has been hit hard as a result.
According to ForeclosureRadar, the number of properties coming to auction in hard-hit western states -- Arizona, California and Nevada -- has dropped more than 30%."
FL 4th DCA APPEALS COURT: "ATTORNEY FEES AWARDED" VALCARCEL v. CHASE BANK
FL 4th DCA APPEALS COURT: "ATTORNEY FEES AWARDED" VALCARCEL v. CHASE BANK:
As seen on "STOPForeclosureFraud.com
"The trial court granted the Valcarcels’ motion to dismiss as a sanction against Chase for sending a letter regarding the Valcarcels’ mortgage directly to the Valcarcels, rather than the Valcarcels’ lawyer. This mailing was a violation of rule 1.080(b), which requires service to be made upon a party’s attorney when he is represented by counsel."
INFLATION signs in the Price of Christmas: Twelve Days of Christmas costs more
Cost of “The Twelve Days of Christmas”
Song Items Spike, According To 2010
PNC Christmas Price Index®
According to the 27th annual survey, the price tag for the PNC CPI is $23,439 in 2010, $1,974 more than last year. This is the second highest jump ever and largest percentage increase since 2003 when the index rose 16 percent. That comes on the heels of a modest 1.8 percent increase a year ago.
Despite a sluggish economy and low inflation, the 2010 PNC Christmas Price Index® surged 9.2 percent in the whimsical economic analysis by PNC Wealth Management based on the gifts in the holiday classic, “The Twelve Days of Christmas.”
“This year’s jump in the PNC CPI can be attributed to rising gold commodity prices, represented by the Five Gold Rings which went up by 30 percent, in addition to higher costs for wages and benefits impacting some entertainers,” said James Dunigan, managing executive of investments for PNC Wealth Management.
Cyber Prices: The Cost of Convenience
For those True Loves who prefer the convenience of shopping online, PNC Wealth
Management calculates the cost of “The Twelve Days of Christmas” gifts purchased on the Internet.
This year, the trends identified in the traditional index are repeated in the Internet
version, with the core rates more than total rates. True Loves will pay a grand total of $34,336 to buy the items online. That is a 9.2 percent more expensive than last year and almost $11,000 more than this year’s traditional index.
True Loves Be Warned: Despite Weak Economic Picture PNC Christmas Price Index® Jumps a Staggering 9.2 Percent In general, Internet prices are higher than their non-Internet counterparts because of shipping costs for birds and the convenience factor of shopping online,” Dunigan said.
Special Present: Updated Web Site
For a historical look at PNC’s index, the updated Web site can be viewed at www.pncchristmaspriceindex.com. This year’s site incorporates interactivity with a pop-up book theme narrated by Dunigan, allowing visitors to enjoy and reveal the 2010 PNC CPI results at their own pace. Each year, educators across the country use the Christmas Price Index to teach economic trends to middle and high school students. With that in mind, this year’s site includes interactive activities, annual results and PNC CPI trends in a Flash presentation, MP3 download, games and much more.
Educators who visit the site will also find lesson plans on the Christmas Price Index from The Stock Market GameTM (SMG), a program of the Securities Industry and Financial MarketsAssociation Foundation for Investor Education (www.sifma.org/education). The enhanced activities are specially designed to help students identify economic trends and to project their impact on this year’s Index, giving them the opportunity to make predictions and check their success against actual results. SMG is America’s premier educational stock market simulation.
Available in all 50 states for grades 4-12, the SMG program teaches children core academic and investment skills.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news, updates and announcements
from PNC.
'EPIC MICKEY' game release November 30th
Home | Mickey and Friends | Disney
Great site for finding Mickey music, movies, books etc... new game release out on November 30th 'EPIC MICKEY'
order on Disney site.
Great site for finding Mickey music, movies, books etc... new game release out on November 30th 'EPIC MICKEY'
order on Disney site.
Sunday, November 28, 2010
It’s Time to Thank Your Customers, the Social Media Way | BNET
It’s Time to Thank Your Customers, the Social Media Way | BNET: "3. Fund a business
Remember what it was like when you started your business? You probably had detractors, more than enough doubts of your own, not to mention the fact that it was likely challenging for you to raise the capital to get your business off the ground.
But now that you’re a bona fide business owner, how about helping someone else get their start?
There are a couple of ways you could do this.
First, if your preference is to support creative projects, consider checking out the several projects that are looking for funding on Kickstarter (Eat Your Serial is one example.)
Second, if you’re interested in extending your reach literally around the world, look at a micro-lending site such as Kiva.org. Essentially, you can choose from several small businesses, in a wide range of fields, that are looking for microfunding by browsing Kiva’s site, and support one. These loans are funded by people like you, and disbursed through Kiva and its “field partners” (read about the entire Kiva process here); and once the entrepreneur is off the ground, s/he repays the loan."
Remember what it was like when you started your business? You probably had detractors, more than enough doubts of your own, not to mention the fact that it was likely challenging for you to raise the capital to get your business off the ground.
But now that you’re a bona fide business owner, how about helping someone else get their start?
There are a couple of ways you could do this.
First, if your preference is to support creative projects, consider checking out the several projects that are looking for funding on Kickstarter (Eat Your Serial is one example.)
Second, if you’re interested in extending your reach literally around the world, look at a micro-lending site such as Kiva.org. Essentially, you can choose from several small businesses, in a wide range of fields, that are looking for microfunding by browsing Kiva’s site, and support one. These loans are funded by people like you, and disbursed through Kiva and its “field partners” (read about the entire Kiva process here); and once the entrepreneur is off the ground, s/he repays the loan."
‘Harry Potter’ Tops Box Office Again With $50 Million - BusinessWeek
‘Harry Potter’ Tops Box Office Again With $50 Million - BusinessWeek:
"The weekend’s top 12 films grossed $173.9 million, down 0.74 percent from a year earlier, according to Hollywood.com. This year’s domestic box office sales total $9.66 billion, up 2.14 percent from a year earlier. Attendance is down 2.93 percent.
The amounts below are based on actual ticket sales for Nov. 26-27 and estimates for today."
Friday, November 26, 2010
Kim Kardashian talks about her brand on ’Today’ Show (Video) - National Celebrity Headlines | Examiner.com
Kim Kardashian talks about her brand on ’Today’ Show (Video) - National Celebrity Headlines | Examiner.com: "The interview did give Kim Kardashian a chance to plug her wares, the special about Kim Kardashian as well as others who are considered some of the most influential people airs on NBC tomorrow. There is promise to be even a bigger interview with the television reality star as well.
Take a minute to watch the video clip of Kim Kardashian talking to Matt on the Today Show."
Take a minute to watch the video clip of Kim Kardashian talking to Matt on the Today Show."
Has billionaire Warren Buffett begun to lose his fastball? - National conservative | Examiner.com
Has billionaire Warren Buffett begun to lose his fastball? - National conservative | Examiner.com: "Recently in an interview with ABC’s Christiane Amanpour; Warren Buffet, CEO of Berkshire Hathaway, Inc. said that “rich people should pay more in taxes and that Bush-era tax cuts for top earners should be allowed to expire at the end of December.”
His rationale, “ the rich are always going to say that, you know, just give us more money and we’ll go out and spend more then it will trickle down to the rest of you.”
When we have MSNBC’s Rachael Maddow espousing the long since repudiated economic theories of John Maynard Keynes and singing in the same choir with Mr. Buffet it’s time to begin looking for a new church.
Using as her talking points the 1980’s primary debate between George H.W. Bush and quoting “voodoo economics” this years probable Nobel Laurite in Economics M.S. Maddow does what most progressives do, she revises the facts.
So before you book your flight to Oslo, Ms. Rachael, you may need to consider a few things.
1. The $700 billion that the “rich” would get to keep is theirs, and it doesn’t belong to the government. You are grossly mistaken that this $700 billion must be made up or there will be larger deficits."
His rationale, “ the rich are always going to say that, you know, just give us more money and we’ll go out and spend more then it will trickle down to the rest of you.”
When we have MSNBC’s Rachael Maddow espousing the long since repudiated economic theories of John Maynard Keynes and singing in the same choir with Mr. Buffet it’s time to begin looking for a new church.
Using as her talking points the 1980’s primary debate between George H.W. Bush and quoting “voodoo economics” this years probable Nobel Laurite in Economics M.S. Maddow does what most progressives do, she revises the facts.
So before you book your flight to Oslo, Ms. Rachael, you may need to consider a few things.
1. The $700 billion that the “rich” would get to keep is theirs, and it doesn’t belong to the government. You are grossly mistaken that this $700 billion must be made up or there will be larger deficits."
Thursday, November 25, 2010
China, Russia quit dollar
China, Russia quit dollar: "St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.
Related readings:
Russia, China pledge to save the tiger
New power bridge across Russia-China border completed
China, Russia reach consensus on energy cooperation
Highlights of Chinese premier's activities in Russia
Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.
'About trade settlement, we have decided to use our own currencies,' Putin said at a joint news conference with Wen in St. Petersburg."
Related readings:
Russia, China pledge to save the tiger
New power bridge across Russia-China border completed
China, Russia reach consensus on energy cooperation
Highlights of Chinese premier's activities in Russia
Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.
'About trade settlement, we have decided to use our own currencies,' Putin said at a joint news conference with Wen in St. Petersburg."
Wednesday, November 24, 2010
Doctors Ask Congress for Freedom, Not Bigger Reimbursements -- TUCSON, Ariz., Nov. 17, 2010 /PRNewswire-USNewswire/ --
Doctors Ask Congress for Freedom, Not Bigger Reimbursements -- TUCSON, Ariz., Nov. 17, 2010 /PRNewswire-USNewswire/ -
"The AMA and Congress have been playing this game of 'chicken' for more than 8 years," says Dr. Jane Orient, executive director of AAPS. [See: http://www.aapsonline.org/newsoftheday/001097] The AMA threatens doctors will quit seeing Medicare patients unless Congress stops the cuts.
"Meanwhile, the AMA and the government collude on a dictatorial system of price controls."
Unless Congress acts, doctors' Medicare payments will be slashed 23% on Dec 1, then another 6% on Jan 1. The formula automatically kicks in when Medicare spending exceeds a certain amount.
The values for thousands of medical procedures are set by a secretive 29-member panel called the RUC, the Relative Value Scale Update Committee, convened by the AMA. [See Wall Street Journal, Oct 26, 2010.e] Once the RUC determines the formula for divvying up $60 billion for physician fees, the government accepts most of the recommendations and applies a "conversion factor" to give each fee a dollar amount.
Doctors who charge a different amount are heavily fined or sent to prison. Because of the price controls or ban on "balance billing," if the Medicare-allowed fee doesn't cover the cost, doctors simply can't provide the service. Patients who are willing and able to pay are not permitted to make up the difference. It amounts to a form of covert rationing.
"In a free-market system, patients and doctors decide on the fee," states Dr. Orient. "That is not necessarily the same as the insurance reimbursement."
Doctors who opt out of Medicare set their own fees, but patients cannot collect Medicare reimbursement for their services.
Instead of asking for more taxpayer money, AAPS asks Congress to restore the freedom of patients and physicians to make their own decisions, including the amount of the fee. Without all the expensive Medicare hassles, fees are often lower.
SOURCE Association of American Physicians and Surgeons (AAPS)
Back to topFriday, November 19, 2010
The real story is the HAZINGS of homes in Cleveland
BofA adjusted 25,000 home loans in October: "'You really have to bury the dead right now. You have to remove blight. It's unfortunately on a grand scale.'
Gus Frangos, president of the Cuyahoga County Land Reutilization Corp. in Cleveland, on why the agency is demolishing hundreds of deserted, derelict homes. The city's population has been shrinking for 60 years as it loses manufacturing jobs. Now, after more than 33,000 foreclosures since 2005, the agency plans to use federal grant money to buy as many as 1,000 homes and tear down most of them."
Gus Frangos, president of the Cuyahoga County Land Reutilization Corp. in Cleveland, on why the agency is demolishing hundreds of deserted, derelict homes. The city's population has been shrinking for 60 years as it loses manufacturing jobs. Now, after more than 33,000 foreclosures since 2005, the agency plans to use federal grant money to buy as many as 1,000 homes and tear down most of them."
Report: America's Cup would cost city $128M - San Jose Mercury News
Report: America's Cup would cost city $128M - San Jose Mercury News: "SAN FRANCISCO—A new report says San Francisco's economy would get a $1.2 billion boost if the city hosted the America's Cup sailing contest, but there would also be significant costs to city coffers.
The San Francisco Chronicle reports that the report by Board of Supervisors Budget Analyst Harvey Rose was released on Thursday. It found the city's direct cost of hosting the event would be $42 million. Rose estimated San Francisco would lose another $86 million from granting race organizers development rights and leases to waterfront property.
San Francisco appears to be the front-runner to host the race in 2013.
Mayor Gavin Newsom's office, which supports the city's bid, says the budget analyst fails to account for the decrepit condition of the waterfront property and private funds that will reduce the city's direct costs.
———
Information from: San Francisco Chronicle, http://www.sfgate.com/chronicle"
The San Francisco Chronicle reports that the report by Board of Supervisors Budget Analyst Harvey Rose was released on Thursday. It found the city's direct cost of hosting the event would be $42 million. Rose estimated San Francisco would lose another $86 million from granting race organizers development rights and leases to waterfront property.
San Francisco appears to be the front-runner to host the race in 2013.
Mayor Gavin Newsom's office, which supports the city's bid, says the budget analyst fails to account for the decrepit condition of the waterfront property and private funds that will reduce the city's direct costs.
———
Information from: San Francisco Chronicle, http://www.sfgate.com/chronicle"
Wednesday, November 17, 2010
How to Start SUSU | eHow.com
How to Start SUSU | eHow.com: "SUSU is collective money. It can be thought of as microfinance, mutual financing, or a pooling of funds.
This practice is popular in other countries like GHANA. It is thought to have started in ancient China. American Immigrants have used SUSU for years, to help finance start up business or provide down payments on homes,
This is an unique way of saving money. The basics will be covered here. Needing a fistful of dollars?
Difficulty: ModerateInstructions
Things You'll Need:
Bank account
List of contributors
Organization
1
Set up official bank account to deposit fund into.
2
Briefly: In a SUSU, contributors make deposits weekly."
This practice is popular in other countries like GHANA. It is thought to have started in ancient China. American Immigrants have used SUSU for years, to help finance start up business or provide down payments on homes,
This is an unique way of saving money. The basics will be covered here. Needing a fistful of dollars?
Difficulty: ModerateInstructions
Things You'll Need:
Bank account
List of contributors
Organization
1
Set up official bank account to deposit fund into.
2
Briefly: In a SUSU, contributors make deposits weekly."
MORE THAN 50 MILLION AMERICANS LIVE IN HUNGER, ACCORDING TO NEW USDA REPORT
MORE THAN 50 MILLION AMERICANS LIVE IN HUNGER, ACCORDING TO NEW USDA REPORT: "“The USDA report confirms what we already know—that domestic hunger is still on the rise,” remarked Vicki Escarra, President and CEO of Feeding America. “On behalf of our food banks who have been working tirelessly to feed people in need, we thank our Entertainment Council members, our numerous celebrity friends and the Ad Council for helping us bring national awareness to the growing problem of hunger.”
Created pro bono by Cutwater, the new television PSAs also feature Taye Diggs and Ana Ortiz, who portray the real stories of Americans affected by hunger. The goal of the campaign is to increase the social consciousness of hunger in the U.S., while diminishing the stereotypes about those who are hungry in America. The TV, print, outdoor and web PSAs direct audiences to visit feedingamerica.org for ways to help and to find their community’s food bank. A Spanish-language TV PSA is also available.
“I was thrilled to team up with Feeding America and the Ad Council to play a role in revealing a problem that so many Americans face: figuring out where to find their next meal. I would encourage everyone to get involved in the fight against hunger to help those who are less fortunate in our communities,” said Actress Ana Ortiz."
Created pro bono by Cutwater, the new television PSAs also feature Taye Diggs and Ana Ortiz, who portray the real stories of Americans affected by hunger. The goal of the campaign is to increase the social consciousness of hunger in the U.S., while diminishing the stereotypes about those who are hungry in America. The TV, print, outdoor and web PSAs direct audiences to visit feedingamerica.org for ways to help and to find their community’s food bank. A Spanish-language TV PSA is also available.
“I was thrilled to team up with Feeding America and the Ad Council to play a role in revealing a problem that so many Americans face: figuring out where to find their next meal. I would encourage everyone to get involved in the fight against hunger to help those who are less fortunate in our communities,” said Actress Ana Ortiz."
Tuesday, November 16, 2010
Greece, Germany Grapple Over Debt - WSJ.com
Greece, Germany Grapple Over Debt - WSJ.com:
"'Our task is to anchor a new culture of stability in Europe,' German Chancellor Angela Merkel said in prepared remarks for a party congress Monday.
A spokeswoman for Ms. Merkel said Monday the German chancellor's call for investors to bear a share of the burden in case of a euro-zone default in sovereign debt was made in reference to European Union discussions about new strategies for financial-crisis management that would not be implemented before 2013.
At the same time, the very fact that some countries are facing borrowing difficulties is spreading the problem to others and weakening the euro. That makes a speedy solution imperative.AND GREECE:
Ireland, the country most acutely in crisis, is facing pressure to accept a bailout in order to stem the contagion, and a Portuguese minister speculated over the weekend that his country—another weak spot—may be forced to leave the euro zone."
Greece's poor record of making economic estimates and compiling government statistics. The 2009 deficit—also adjusted Monday from 13.6% of GDP to 15.4%—has been revised a half-dozen times. Greece now says it has finally seen the end of statistical revisions.
But the changes to the numbers also reflect a more fundamental problem: Greece is straining to bring in enough cash to close its budget gap sufficiently. Data from the Greek finance ministry show that revenue is up just 3.7% in the first 10 months of 2010, against the same period a year ago. The deal Greece inked in May as part of its bailout calls for full-year 2010 revenue to be up by 13.7%. That's now all but impossible, and Greek authorities have responded by imposing additional spending cuts to compensate. Analysts say Monday's new figures mean Greece will have to cut again.
Americans' Retirement Fears Revealed -- ST. LOUIS, Nov. 15, 2010 /PRNewswire/ --
Americans' Retirement Fears Revealed -- ST. LOUIS, Nov. 15, 2010 :
"The study of 1,008 respondents, which was conducted by Opinion Research Corporation on behalf of Edward Jones, revealed that a large percentage of Americans also rank 'having to work longer to supplement retirement savings' (19%) and 'having to rely on others for support' (19%) as major concerns as they approach retirement. Respondents between the ages of 45 and 54 showed the most anxiety (26%) about having to work longer to supplement their retirement savings.
Americans in lower age brackets (24% of 18-24 year olds and 24% of 25-34 year olds) are most concerned about having to rely on others to support them during retirement. Additionally, within these age groups (18% in each age bracket respectively), respondents also indicated that they are more concerned about 'not being able to make provisions for family' than those older than the age of 35.
Household income also had a considerable effect on respondents' retirement fears, as Americans with annual incomes between $75,000 and $100,000, indicated that they are most concerned about 'having to work longer' (35%) and 'having to cut back on a desired lifestyle' (21%)."
China's Leading Economic Index Rises for Fifth Month as Growth Stabilizes - Bloomberg
What affects the world affects us.
The Conference Board’s leading index rose 0.6 percent to 150.8, according to a preliminary report from the New York-based research organization, posted on its website today. The reading compared with a gain of 0.7 percent in August.
The gains “suggest the economy is likely to expand steadily through early 2011,” said William Adams , resident economist for The Conference Board China Center in Beijing. “However, weakening consumer sentiment and tighter monetary policy may be a concern going forward.”
A more-than-forecast acceleration in inflation to 4.4 percent, announced Nov. 11, stoked speculation that the central bank may further tighten monetary policy as the Chinese economy maintains momentum. Interest rates will rise again before year- end after an increase in October that was the first since 2007, according to a Bloomberg News survey of economists."
Europe Economic Preview: U.K. Inflation Data Due
Although this blog is for American Economic news - What affects the world, affects us too.
Eurozone finance ministers are convening for a crucial meeting in Brussels today, with the Irish Republic's perilous fiscal plight expected to top agenda. All times in ET.
Major economic reports released on Monday were mostly negative, with Greece's budget deficit for 2009 sharply revised up to 15.4% of GDP. Subsequently, the country revised its deficit target for this year to 9.4% of output from the previous 7.8%. Elsewhere, Italy's trade deficit rose in September, while the eurozone's trade balance turned to surplus."
Monday, November 15, 2010
TARGET $3 - APPLIANCES
TARGET $3 - APPLIANCES: "Here's a sampling of what Black Friday shoppers at Target stores could score this year: $3 appliances, deep deals on HDTVs and 50% off on clothes and toys, according to a website that says it has received a leaked copy of the retailer's circular.
Brad Olson, founder of Gottadeal.com, a site that markets itself as one of many 'official' Black Friday deal sites, said Wednesday that he received a copy of the discount retailer's ad.
Target spokeswoman Jessica Carlson declined to comment on the leaked circular other than to say that the company will officially unveil the Black Friday deals online on Nov. 24 and the print circular will reach homes on Thanksgiving Day, Nov. 25.
[Click here to check savings products and rates in your area.]
For competitive reasons, most merchants typically keep a tight lid on their promotions for Black Friday, the day after Thanksgiving, until the week before.
Olson, who's been tracking annual Black Friday deals from all of the major retailers -- including Wal-Mart (NYSE: WMT - News), Sears (Nasdaq: SHLD - News) and Macy's (NYSE: M - News) -- for the past seven years, said Target's deals look very similar to its gameplan from last year." >>>>keep reading for more information
Brad Olson, founder of Gottadeal.com, a site that markets itself as one of many 'official' Black Friday deal sites, said Wednesday that he received a copy of the discount retailer's ad.
Target spokeswoman Jessica Carlson declined to comment on the leaked circular other than to say that the company will officially unveil the Black Friday deals online on Nov. 24 and the print circular will reach homes on Thanksgiving Day, Nov. 25.
[Click here to check savings products and rates in your area.]
For competitive reasons, most merchants typically keep a tight lid on their promotions for Black Friday, the day after Thanksgiving, until the week before.
Olson, who's been tracking annual Black Friday deals from all of the major retailers -- including Wal-Mart (NYSE: WMT - News), Sears (Nasdaq: SHLD - News) and Macy's (NYSE: M - News) -- for the past seven years, said Target's deals look very similar to its gameplan from last year." >>>>keep reading for more information
BLACK FRIDAY - Don't Wait to Shop
BLACK FRIDAY - Don't Wait to Shop:
Sharing information and tips to increase earnings. Increase your passive, residual income. Guest bloggers welcome.
"That said, some deals are definitely better than others. While it'll be difficult to beat the $3 appliances Target's rumored to be offering Black Friday, prices on some toys, electronics and other wish-list staples are worth checking out now. TheStreet did some bargain hunting and found seven categories on which savvy shoppers can save without sacrificing their sanity or tryptophan-induced post-Thanksgiving sleep:
1. Toys
Courtesy of Matel
As we mentioned, Toys R Us put its holiday toy book on sale back in October, so that's roughly how long toys have been a bargain. Target, though, became the toy store du jour earlier this month when a Wall Street Journal price comparison found that Wal-Mart's toy prices were significantly higher than Target's in several instances. That didn't sit well in Arkansas, where folks at Wal-Mart headquarters went on toy box damage control by slashing toy prices to within a dollar of Target's total. So who wins? You do." >>>> KEEP reading for deals on Sears, Walmart, HDTV's, kitchen, smartphones and much more.
Sharing information and tips to increase earnings. Increase your passive, residual income. Guest bloggers welcome.
Saturday, November 13, 2010
The Associated Press: WHITE HOUSE NOTEBOOK: No dead fish means water OK
The Associated Press: WHITE HOUSE NOTEBOOK: No dead fish means water OK: "SEOUL, South Korea (AP) — Dead fish tell no tales — unless they're the goldfish being used to monitor water quality at the conference center where President Barack Obama and other world leaders met Friday to hash out global economic policy.
Hosts of the Group of 20 economic summit have released six goldfish into the convention center's water supply. The goal is to make sure the recycled water piped into restrooms is safe from any toxic attack by North Korean agents.
Any fish that go belly-up would signal possible water contamination."
Hosts of the Group of 20 economic summit have released six goldfish into the convention center's water supply. The goal is to make sure the recycled water piped into restrooms is safe from any toxic attack by North Korean agents.
Any fish that go belly-up would signal possible water contamination."
The Canadian Press: Thousands of Japanese protest Chinese premier's visit for economic summit
Protests are all over the world for various economic and governmental issues.. including recently Germany and the nuclear waste train. The protest here is tame in comparison
The Canadian Press: Thousands of Japanese protest Chinese premier's visit for economic summit: "YOKOHAMA, Japan — Thousands of demonstrators waving Japanese flags and shouting anti-China slogans marched Saturday against Chinese Premier Hu Jintao's visit for an economic summit that comes as a territorial dispute strains ties between the Asian giants.Organizers said Saturday's march in Yokohama, which was held under heavy security near the site of the Asia-Pacific Economic Cooperation forum summit, drew about 4,000 demonstrators. Police had no official estimate of the crowd size.
Relations between Japan and China have plunged recently because of tensions over a ship collision near islands in the East China Sea that are controlled by Japan but also claimed by China. Called the Diaoyu or Diaoyutai in Chinese and Senkaku in Japanese, the islands are surrounded by rich fishing grounds and are regularly occupied by nationalists from both sides.
The island dispute has also generated large anti-Japan protests across China and attacks on Japanese-owned businesses ther"
VIDEOS: Q20 reports on Economy China Slams US, Protectionism
Two video reports on Q20 the Economic Summit , Our Fed moves have caused a little stir in the world.
Thank God, OBAMA focused on healthcare and not the economy.
November 13, 2010 - After a cheery morning of cruising headline news and watching a few videos, LARGE cup of coffe in hand, I came to a startling conclusion. Thank God that President Obama focused on healthcare. If he hadn't we would be in a triple dip deep depression with the world out to upstage us from what little financial strength we have left.
OH wait, it seems like we are in depression, now? With foreclosures at all time high, with people losing homes daily, with government's total inability to cope. Add to that, people getting ready to walkaway from homes en masse, much like is happening in Germany now as a protest. People in America are in personal financial crisis with bankruptcy filings at all time high in the states having highest foreclosure rates. We have banks on the brink of receivership, and banks are in deep trouble due to fraud - with $BILLIONS estimated to settle the score. Social security freezes threaten the health and well being of our seniors. Unemployment remains at huge levels; officially around 10%. With all unreported claims factored in, the unemploymnet rate is closer to a 25% unemployment rate, by some economists estimations.
This week I read: Embarrassment in Seoul - WSJ.com: the ending comments caught my eye -
"The Administration's dubious monetary theories also led it to waste valuable political energy pushing an unlikely deal with China to revalue the yuan (and devalue the dollar). Instead Mr. Obama could have argued for reforms to China's capital account that would do some genuine good. China's exchange rate by itself has not contributed to global imbalances, but China's capital-account regulations have.
In particular, the fact that Beijing sterilizes capital inflows and recycles them into U.S. government debt instead of allowing capital to enter and exit more freely contributes to a global misallocation of resources. Mr. Geithner is too busy focusing on the exchange rate to notice, let alone to respond to Beijing's complaints about U.S. monetary instability by challenging China to liberalize its own capital account.
The world also rejected Mr. Geithner's high-profile call for a 4% limit on a nation's trade surplus or deficit, which would amount to new political controls on trade and capital flows. This contradicts at least three decades of U.S. policy advice against national barriers to the flow of money and goods. We don't like to see U.S. Treasury Secretaries so completely shot down by the rest of the world, except when they are so clearly misguided."
If President Obama had focused more energy and attention on the economy instead of healthcare - we would be in even worse shape. It seems the harder we try, the be-hinder we get. Most people in the United States know that healthcare costs are going to be the next bomb to our economic recovery and not the CURE-ALL the President is hoping for. WE will lose qualified doctors and that is happening already. If Obama and Geithner are so far wrong economically(according to the world) do you think MORE attention to the economy would have been a good thing?
Chinese Rating Agency Dagong: America's Economy Is Actually Less Than Half The Size It Claims To Be
Chinese Rating Agency Dagong: America's Economy Is Actually Less Than Half The Size It Claims To Be:
"Chinese ratings agency Dagong Global Credit Rating Group made a media splash in July when it launched its sovereign debt ratings by stripping seven developed nations of their AAA ratings, putting nations such as France, Britain, and the U.S. below China.
Now the firm has just downgraded the U.S. further, to 'A+' from 'AA', blaming QE2, and they're throwing out some real whoppers:
Dagong:
The serious defects in the United States economic development and management model will lead to the long-term recession of its national economy, fundamentally lowering the national solvency. The new round of quantitative easing monetary policy adopted by the Federal Reserve has brought about an obvious trend of depreciation of the U.S. dollar, and the continuation and deepening of credit crisis in the U.S. Such a move entirely encroaches on the interests of the creditors, indicating the decline of the U.S. government’s intention of debt repayment. Analysis shows that the crisis confronting the U.S. cannot be ultimately resolved through currency depreciation. On the contrary, it is likely that an overall crisis might be triggered by the U.S. government’s policy to continuously depreciate the U.S. dollar against the will of creditors.
..."
America left to face economy troubles alone
America left to face economy troubles alone: "SEOUL, South Korea - The Group of 20 summit ended Friday with a declaration of broad principles but no commitment to immediate action, signaling that the United States will have to go it alone in dealing with its fragile economy and nearly double-digit unemployment.
In their final declaration, leaders of the world's most powerful economies pledged to work together and refrain from protectionism and competitive devaluation of currencies. They also agreed to take steps to promote growth in low-income countries.
But when it came to specifics, a U.S. proposal to set numerical limits on trade surpluses and deficits was rejected. Leaders of the world's 20 biggest economies pledged only to develop 'indicative guidelines' to assess imbalances in the first half of next year.
'Any sense of global solidarity looks to have been yesterday's story,' said Tim Condon, chief economist at ING Financial Markets in Singapore.
World economic leaders also refused to endorse a U.S. effort to force China to raise the value of its currency.
President Barack Obama responded by lashing out at China over what much of the world thinks is currency manipulation to give it an advantage."
In their final declaration, leaders of the world's most powerful economies pledged to work together and refrain from protectionism and competitive devaluation of currencies. They also agreed to take steps to promote growth in low-income countries.
But when it came to specifics, a U.S. proposal to set numerical limits on trade surpluses and deficits was rejected. Leaders of the world's 20 biggest economies pledged only to develop 'indicative guidelines' to assess imbalances in the first half of next year.
'Any sense of global solidarity looks to have been yesterday's story,' said Tim Condon, chief economist at ING Financial Markets in Singapore.
World economic leaders also refused to endorse a U.S. effort to force China to raise the value of its currency.
President Barack Obama responded by lashing out at China over what much of the world thinks is currency manipulation to give it an advantage."
Thursday, November 11, 2010
Elle Fanning is Darling in Miu Miu Evening Pumps - Celebrity Clothes - StyleBistro
Elle Fanning is Darling in Miu Miu Evening Pumps - Celebrity Clothes - StyleBistro: "Elle Fanning looked darling in age-appropriate crystal embellished Miu Miu heels. The white heels looks perfect with her sparkling evening dress.
Elle stars in the new film Nutcracker in 3D. The sure to be visually stunning film adaptation will be released in theaters November 24th."
Elle stars in the new film Nutcracker in 3D. The sure to be visually stunning film adaptation will be released in theaters November 24th."
Palin Lashes Out At WSJ Reporter, Misquotes Story
Palin Lashes Out At WSJ Reporter, Misquotes Story:
"In remarks delivered at a Phoenix convention, and first leaked by the The National Review, Palin criticized the Federal Reserve's quantitative easing policy, in which the bank will purchase up to $600 billion of new U.S. government debt (as part of a plan that could reach $900 billion), and urged Fed chairman Ben Bernanke to 'cease and desist.'
As HuffPost's Shahien Nasiripour noted Monday, the Federal Reserve operates independently of any other government body, and so political criticism of it is unusual.
Even more unusual were the specifics of Palin's critique: As WSJ's Sudeep Reddy pointed out Monday, she doesn't get all of her facts right. In response to Palin's assertion that 'everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so,' Reddy wrote Monday that 'Grocery prices haven't risen all that significantly, in fact.' He notes that prices have actually increased only 0.6 percent over the past year. It's the lowest rate on record -- so low that it inspired a high-profile Twitter fight late last month."
Could Foreclosure Crisis been Avoided? VIDEO Bush Interview
"I am not a hater" says President George Bush in this video interview. Bush is dealing a lot with remarks by Kanye West. But wait, there is mores, Talk about taxes, the economy and the challenges of financial stability while facing problems unique to his Presidency. He has written a book and I think many will have a different view of Bush after reading the book and watching his next few years while comparing with old interviews and history.
Tuesday, November 9, 2010
Trumped-Up Policies: Ready for the ‘Trump Tax’? - Merrill Matthews - Right Directions - Forbes
The author of this piece has some insights that are interesting and worth the article read (click title link)
As to the presidential run, someone with ANY business experience would have to be an improvement - but would Trump have the dimplomacy? Maybe that would be a good thing when speaking to the UN: "You're Fired!"
His primary solution to rebooting the economy and creating jobs is … to slap a 25% tax on everything we import from China."
Malicious Parking Policies of Los Angeles: VIDEO OUTRAGE
The Group Full Disclosure Network®, reveals parking meter abuse in L.A, California. Watch the outrageous video below.
2 Hour Parking Limit For 3 Hour Event
Because the parking meters took quarters only, for each ten minutes, most visitors did not have the required eighteen quarters necessary to pay for the entire three-hours during the event in the Community Room. But even if the visitors did have enough quarters they would have exceeded the two-hour parking limit as posted on the meters. According to the parking ticket victims appearing in the video, many if not most of the parking meters were malfunctioning, resulting in $50 parking tickets. Watch this one-minute video of a parking enforcement officer issuing a ticket to a person who parked in a non-working parking meter space.
L.A. County Division Parking Chief Caught On Camera
A nearby county operated parking lot designated for "overflow parking" cost $8 for 24 hours but the ticketing machine was malfunctioning with confusing and conflicting instructions, as demonstrated in the video. Visitors were ticketed $60 for failing to abide by the confusing instructions.
County Officials Defend Parking Enforcement Abuse:
Appearing in the video is Paul Wong, Division Chief, Planning Division and Debra Talbot, PR/Marketing Dept of the L A County Department of Beaches & Harbors
So what do you think? Is this too far? Pay the fine and go? Change meters? What WOULD YOU do?
2012: the economy will swing it | Mark Weisbrot | guardian.co.uk
This article is worth a good read... read in full by clicking on title link.
This can be seen from both pre-election polling data and exit polling. For example, 58% of voters said that they were 'trying to send a message about how dissatisfied they are with things in Washington'. But voters were more likely to agree with Democratic positions on social security, trade policy and other issues. This despite the fact that an 'enthusiasm gap' lowered Democratic turnout. As comedian Jon Stewart prodded Obama in his recent interview on the Daily Show: how did we go from 'hope and change' to 'please, baby, one more chance?'
But with such a volatile electorate, it is worth examining the outcome in more depth. Political scientist Douglas Hibbs has watched midterm congressional elections in the US since 1950, and found that 92% of the variance can be explained by just four factors"
Inflation Targeting Won't Fix The Fed Says Policy Analyst Rich Danker | Markets | Minyanville.com
Inflation Targeting Won't Fix The Fed Says Policy Analyst Rich Danker | Markets | Minyanville.com: "Even if the Fed had used a traditional inflation-targeting framework like the ECB, it is far from clear that it would have been able to avoid the road Bernanke took it down. Inflation by any measure was fairly modest and not indicative of the price surge concentrated in residential real estate from 2003-2007. That the bubble happened in the low-inflation environment of the so-called Great Moderation tells us two things: inflation is an inadequate target for monetary policy and it will take more than good interest rate policy to fix it.
Ending the Fed’s dual mandate and focusing it on some measure of price stability does not address the underlying structure of the monetary system that enabled the housing bubble: the dollar’s role as the world’s reserve currency. This system encourages massive flows of dollar-denominated debt to foreign central banks for use as reserves and international payments without the appropriate increase in output in the U.S. Asset prices rise to reflect this imbalance -- which is why we’ve experienced a litany of single-sector bubbles, from tech stocks to housing and now perhaps bonds, as this system has evolved in its current form since 197"
Ending the Fed’s dual mandate and focusing it on some measure of price stability does not address the underlying structure of the monetary system that enabled the housing bubble: the dollar’s role as the world’s reserve currency. This system encourages massive flows of dollar-denominated debt to foreign central banks for use as reserves and international payments without the appropriate increase in output in the U.S. Asset prices rise to reflect this imbalance -- which is why we’ve experienced a litany of single-sector bubbles, from tech stocks to housing and now perhaps bonds, as this system has evolved in its current form since 197"
Is it the End of the Dollar's Era? - The Takeaway
Is it the End of the Dollar's Era? - The Takeaway: "The world leaders of the G20 are meeting later this week, and there are a lot of ideas afloat on how to reorganize world currency (gold standard, anyone?). Simon Johnson, former chief economist for the International Monetary Fund, helps us examine the notion that the U.S. dollar may not remain at the top of the heap forever.
EARLIER: Ahead of G20, US Financial P"
EARLIER: Ahead of G20, US Financial P"
Sneaky Lenders dig up financial dirt on borrowers
Lenders use new tactics to dig up financial dirt on potential borrowers: "One of the sneaky things banks are starting to track (and rank) is your banking activity: How often and how much you deposit, how often you make withdrawals and how much money is in your account. This shouldn't matter, right? If you pay your bills on time, why should they care if you have a buck or a thousand in your checking account? Unfortunately, banks have figured out that big changes in your activity (such as no longer getting direct deposit, which could mean you've lost your job) could be an early warning sign that you're headed for some choppy financial waters. There are also new computer programs that pull all of the publicly-available information from your credit report, slice and dice it to come up with a guesstimate of how much money you make.
So, who's making and marketing all of these new ways to track your finances? In general, it's the three credit bureaus themselves, along with the Fair Isaac Corporation (the company that makes the FICO credit score). This article talks about specific programs being rolled out by Experian and Equifax to give banks a bigger peek at their customers' financial lives."
So, who's making and marketing all of these new ways to track your finances? In general, it's the three credit bureaus themselves, along with the Fair Isaac Corporation (the company that makes the FICO credit score). This article talks about specific programs being rolled out by Experian and Equifax to give banks a bigger peek at their customers' financial lives."
New AMA Poll Released at National Physician Meeting as Steep Cut Looms December 1
Americans Want Congress to Stop the Medicare Physician Cut That Hurts Seniors
SAN DIEGO, Nov. 8, 2010 /PRNewswire-USNewswire/ -- A staggering 94 percent of Americans are concerned about a looming Medicare cut to doctors, according to a new American Medical Association (AMA) poll released today at the organization's semi-annual meeting of physician leaders from across the nation. Without congressional action, physicians caring for seniors face a 25 percent cut that will hurt seniors' health care.
"Our new poll sends a message to Congress that the American people want them to stop the Medicare cut with 95 percent of seniors saying Congress should act immediately to stop it," said AMA President Cecil B. Wilson, M.D. from a news conference at the meeting. "On December 1 the cut begins, and if Congress has not acted seniors will suffer. We're pulling out the stops to get Congress to act. Our new national ad features seniors, a veteran and an active duty military member – as all these groups will be hurt by the Medicare cut. The ad urges concerned Americans to contact Congress and tell them to stop the cut this month."
Public concern about the impact of the cut on seniors is valid: Already about one in five physicians say they have been forced to limit the number of Medicare patients in their practice because of the ongoing threat of cuts and the fact that Medicare payment rates were already too lowA. "Physicians want to care for seniors, but it is nearly impossible for many physicians to keep their practices open to all Medicare patients when they face a 25 percent payment cut," said Dr. Wilson.
AARP is also concerned. "Americans 65 and over have earned their Medicare and the right to keep seeing the doctors they count on," said AARP Board Member Mara Mayor, Ph.D. "Congress has a responsibility to keep doctors in the Medicare program. It's time for politicians to come together to stop these cuts so seniors can have the peace of mind they've earned."
"Without physicians, there is no care in Medicare," said Dr. Wilson. "The roller-coaster ride caused by Congress' inability to stop the cut for at least a year is eroding physicians' confidence and commitment to Medicare – right during Medicare's open enrollment season for physicians. There is a growing concern that Medicare is becoming an unreliable payer. Congress must allay that fear by stopping the cut for at least 13 months, which will provide time to begin working on a permanent solution in the new year."
Earlier this year when Congress failed to stop the cut before the deadline, physicians were forced to delay payments to suppliers and staff and take out loans to cover overhead expenses – in addition to limiting the number of Medicare patients they could treat.
"It's critical that patients get involved and translate their concern into action," said Dr. Wilson. "We have a new flyer that physicians can distribute or display in their waiting rooms that encourages patients to contact their members of Congress to tell them, 'it's time to stop these cuts,' and the public can also get involved in the AMA's grassroots Patients Action Network to make their voice heard in Washington."
About the American Medical Association (AMA)
The American Medical Association helps doctors help patients by uniting physicians nationwide to work on the most important professional, public health and health policy issues. The nation's largest physician organization plays a leading role in shaping the future of medicine. For more information on the AMA, please visit www.ama-assn.org.
Orbitz Top 10 Busy Thanksgiving Airports
Orbitz Helps Travelers Navigate This Year's Busy Thanksgiving Roadmap
"The Thanksgiving holiday is one of the busiest travel periods each year, and before we settle down for dinner with family and friends, most of us will face a few travel-related frustrations," said Jeanenne Tornatore, Senior Travel Editor of Orbitz.com. "Thankfully, there are some tips and tricks to help alleviate those frustrations, and for those still thinking about traveling, some great alternative airports that take you off the beaten path."
According to the Air Transport Association of America (ATA), travelers can expect to face a 3.5 percent year-over-year increase in the number of passengers on U.S. airlines expected during the last two weeks of November. The ATA projects a total of 24 million travelers taking domestic flights over that period.
Orbitz Insider Index Top 10 Busiest Thanksgiving Airports
This year, the Insider Index looked at the top 100 U.S. airports based on arriving, departing and connecting flights to determine the most and least busy for Thanksgiving travel between occurring between 11/23/10 and 11/29/10.
Chicago O'Hare International once again outpaced all other domestic airports over the Thanksgiving holiday, with 20 percent more flight activity than second place Los Angeles International. Boston Logan International ranks third on our list of busiest airports, with the three New York tri-state airports capturing the fourth (La Guardia), seventh (John F. Kennedy) and eighth spots (Newark).
Washington Ronald Reagan National barely beat out Orlando International for the last spot, and is the only new entrant in this year's list (replacing Seattle Tacoma International from the 2009 list). Other major changes from last year include Boston Logan International climbing from sixth to third, and Atlanta Hartsfield International dropping from fifth to ninth in 2010.
Orbitz Insider Index Top 10 Least Busy Thanksgiving Airport Alternatives
The Orbitz Insider Index has good news for travelers still searching for flights to or from airports that have a less frenetic pace than their larger counterparts. For the second straight year, Orbitz is revealing its top 10 list of the least busy Thanksgivingairport alternatives.
While these airports aren't necessarily the least busy in the top 100 list, they are the least busy alternatives relative to other major airports serving destinations in the area, and should prove easier to navigate over Thanksgiving.
Orbitz Insider Index Tips and Tricks to Save Time and Frustration During Holiday Travel
Know Your Alternatives: There's usually a tradeoff when choosing between a major or alternative airport and you should know the difference before booking. In many cases, you'll gain convenience and accessibility in exchange for a smaller spectrum of flights. Akron / Canton Regional and Dane County Regional are reliable alternatives for travelers that don't mind an hour drive to Cleveland or Milwaukee. Additionally, Chicago Midway (Chicago), Oakland International (San Francisco), and John Wayne International (Los Angeles) are very close alternatives to the larger airports in their respective markets.
Patience is a Virtue: Don't expect all of your Thanksgiving travel plans to happen without a hitch. You may face a delay or be asked to make alternative plans at some point. Prepare for the worst, hope for the best and build buffers into your itinerary to mitigate any one-off disruptions without jeopardizing your entire trip (and sanity).
Travel Light: This is both a money and time saver for any Thanksgiving traveler. Pack light to save on the fees and additional time required to check bags. This will also make the next tip more valuable.
Online Check-In: You should check-in online and print your boarding pass before heading to the airport, particularly if you are traveling light. Alternatively, some carriers now allow you to check in from your smart phone and use a digital bar code that appears on the device screen to pass through security checkpoints. Until that technology is more widely accepted, however, we recommend that you print out your boarding pass just in case.
Security Line Scramble: This is the biggest bottleneck in any airport over Thanksgiving. A little pre-planning can vastly cut down your individual time (unfortunately, it still won't help speed up the group in front of you). Keep your ID and boarding passes in the same pouch or pocket, and your liquids, medication and other red flag items in an easily accessible compartment of your carry-on bag. Always be prepared to take off your shoes, belt and/or large metal jewelry. Your laptop needs a separate bin, and you best find a new home for the loose change in your pocket.
(1) Busiest airport data based on air ticket bookings of the top 100 domestic airports on Orbitz.com with arrivals and departuresbetween 11/23/10 and 11/29/10.
(2) Least busy airport alternatives data based on air ticket bookings of the top 100 domestic airports on Orbitz.com with arrivals and departures between 11/23/10 and 11/29/10.
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