Warren Buffett said on Wednesday that the U.S. economy has "no bounce" and will take time to recover but there is no risk of deflation to push it further into despair.
Gee Warren thx for factual insight on first part and bullshit on second part
It's amazing we're all still limping along. There's nothing holding us up but debt. Thankfully the wheels turn slowly, but honestly I don't see a positive turning point any time soon. I hope I'm really missing something.
(06-24) 13:20 PDT SOUTH SAN FRANCISCO -- A homeless man is on trial in San Mateo County on charges that he smacked a fellow transient in the face with a skateboard as the victim was engaged in a conversation about quantum physics, authorities said today. Jason Everett Keller, 40, allegedly accosted another homeless man, Stephan Fava. Fava was chatting with an acquaintance, who is also homeless, about "quantum physics and the splitting of atoms," according to prosecutors. Keller joined in the conversation and, for reasons unknown, got upset, authorities said. He picked up his skateboard and hit Fava in the face with it, splitting his lip, prosecutors said. Fava also fell and broke his ankle, although how this happened wasn't exactly known, authorities said.
It Takes A Citi (nice post from By Simon Johnson) It Takes A Citi « The Baseline Scenario
You cannot design a financial system that is immune to crash – this would be like declaring earthquakes illegal.
Now is anyone actually listening in the Obama admin?
Bueller Bueller anyone
barfly (profile) wrote on Thu, 6/25/2009 - 4:18 am
When will Calif. bust? How long can a state limp along on nothingness?
- how long do ransom negotiations last?
CR I just want to extend a massive hat tip to you. Even after the bulls have been slaughtered, the matadors are unemployed and the obvious has rang true as the catherdal bells do, you've kept up with the postings and analysis. It keeps us with ADD most attentive and entertained. Thanks a million bro! Best wishes! (I use that now and again... hope its ok!)
The budget was supposed to be approved Monday night, but failed 3-4. In tonights emergency meeting, the 3 who voted for the original budget were absent. The remaining 4 board members changed the budget to set a 25-1 student-teacher ratio for 1st grade and took the entire cost out of administrator salaries. A 10% haircut out of the blue. Note that the board has already cut about 400 jobs. The board also asked for a state mediator to negotiate lower salaries with the teachers union who has refused to budge so far.
barfly (profile) wrote on Wed, 6/24/2009 - 9:44 pm
Dawg, you killed me. Like my pap always said, "Son, when you're dead, lay down."
I just hope I'm not going to turn into "Behind Enemy Lines" reporting from my bankerdome whenever the zombies let up enough to get an iPhone text out during the 2 hrs a day with electricity. Look, don't worry about me. CR is down in Orange County. When things get bad send the helicopter for him first.
fugly indeed. did you happen to catch my pigged ping at oc watchdog last thread? methinks a similar fight at previously obscure local OC water districts is soon to follow.
natives with RLS
Coinz,
Great link...the blogger does a nice job of reporting an obviously very tense set of meetings. Correct me if I'm wrong, but isn't Dana Point-San Clemente-Capistrano one of the ritzier parts of OC?
He lost his ass on Carmax and USG. GS.... not so much!
................
josap - I think it might depend on the size and nature of the company. A buddy and I were just laughing about tishman speyer's stuyvesant town.... Others have done just fine... (BXP for example)
Missed the oc watchdog link, I'll go back and look for it. I can tell you for sure that a lot of municipalities will be raising water rates up to 40% this year due to increases and penalties from water districts.
@kung.fu.panda,
Dana Point-San Clemente-Capistrano is pretty nice, but Newport-Mesa is the richest. Dana Point-San Clemente-Capistrano is probably the worst run (or maybe second but I don't want to disparage another district). Half the board was recalled last year and replaced with stooges from the "education alliance" PAC. Well, the people are getting what they deserve. (disclosure: I am married to an educator)
nades (homepage, profile) wrote on Wed, 6/24/2009 - 9:57 pm
I'm on the east coast this month... its been 9 straight days of rain... and more importantly i cant keep up with the westside this late.... nytol....
Nothing beats the smug satisfaction of having your California native kids say to you "oh, this is why you left" in response to the New England weather last week.
I moved 6 years ago... the younger brother 4..... The stubborn sister just agreed to make the pilgrimage.... Its a done deal...
Manana me-ho's y me-ha's ! !
.....wonder if the California Franchise Tax Board would accept IOUs as payment for state tax returns - they'll be issuing them in a week or so, right? Last time they issued them, banks treated them like money - instant credit on checking accounts. Wonder if it'll be different this go-around.
"Behind Enemy Lines" in the Ventura countryside? Try the Hollywood Hills between LA & the Valley -- it'll be 100 degrees night and day just from the fires in the flatlands on either side below us.
Publisher Kalypso has announced that the banana-republic-dictator sim Tropico is getting a new installment, which will hit PC and Xbox 360 this fall.
Tropico 3 will put players in the shoes of “El Presidente,” a leader who earned his position through non-specific but dubious means. The series’ cult-favorite blend of city building, management and dictatorial hijinks is expected to continue. Screenshots from the game’s official website reveal that the series has made the jump into full 3D.
Series creators PopTop is now part of Firaxis Games, so development duties have been handed off to Bulgarian studio Haemimont Games, which has a long history of real-time strategies and city-builders with limited releases outside of Europe.
LINCOLN, N.H. -- After seven months without a paycheck, Tim Ryan turned into a werewolf.
Laid off from a construction job, Mr. Ryan finally found work last month playing the wolfman at Clark's Trading Post, a tourist attraction in the White Mountains of New Hampshire. For $12 an hour, about half what he made before, he dons furry rags, a coonskin cap and an eye patch and jumps out of the woods when the Trading Post's steam train chugs by, snarling and growling at passengers.
The job is nearly two hours north of his home in Pittsfield, N.H., too far to commute. So Mr. Ryan sleeps in an old, mold-ridden cottage with no running water that someone lets him use free. "These days, you have to do things you never thought you would," says the 52-year-old. "You have to go to extremes."
A breakdown of longstanding business models and the crisis in client confidence due to last year’s financial havoc mean a new reality for wealth-management firms.
More than a quarter of high-net-worth individuals withdrew assets from their wealth-management firm or left their firm altogether in 2008, according to the 13th annual World Wealth Report. The report was compiled by Bank of America Corp.’s Merrill Lynch Global Wealth Management and Capgemini Group.
Mental Note: Treasuries may gain as the Fed avoids signaling it’s moving toward interest-rate increases, according to Goldman Sachs.
“Long-dated bonds still have a decent rally ahead of them,” Dominic Wilson, senior global economist at Goldman Sachs in New York, wrote in a note yesterday. “Although stabilizing economic news will inevitably prompt talk of exit strategies, we think many policy makers will be at pains to emphasize that they are a long way from tightening.”
Goldman went “long” 10-year Treasury futures, betting yields will fall by between 30 and 40 basis points, Wilson said.
Yields are falling in other parts of the credit markets as the Fed’s efforts meet with some success.
The Libor-OIS spread, which measures banks’ willingness to lend, has narrowed to 37 basis points, from a record 364 basis points in October.
.......Kind of.........we received the domain name from a business relationship with a past owner of said campground in Orange County. When we moved out here, we decided to also use the name here, since we had a zillion polo shirts with the BSR name and "I survived a weekend at Black Star Ranch!" - had to use them up some way. LOL.
June 25 (Bloomberg) -- U.S. banks are fighting the Obama administration plan to create a consumer agency for financial services as they seek to protect fees, such as credit-card penalties that have almost doubled to $19 billion in five years.
Fees imposed by banks accounted for 53 percent of industry income in 2008, up from 35 percent in 1995, according to R.K. Hammer Investment Bankers, a credit-card advisory firm. JPMorgan Chase & Co., the second-largest U.S. bank by assets, said such revenue doubled in the first quarter. A U.S. Consumer Financial Protection Agency also may add costs by expanding scrutiny.
......it's one of the many projects on the list........LOL...... It seems I work harder now than when I was working. I'd much rather weed and plant than play with HTML though, so it's low on the list. Thnx, TJ for asking......
June 24 (Bloomberg) -- Moody’s Investors Service said the dollar’s unchallenged status as the world’s reserve currency is supporting U.S.’s Aaa credit rating even as the nation’s budget deficit is set to quadruple this year.
“In the absence of a credible alternative it’s hard to see abrupt changes and that’s not even in the interest of the creditors,” Pierre Cailleteau, managing director of sovereign risk at Moody’s, said in an interview in Tokyo yesterday. The credit rating “remains solid,” he said earlier at a briefing.
“It is imperative that in this historic period of reform, the industry be recognized as playing a positive role in seeking change and providing solutions to the problems we face,” one of the documents said.
Curious, exactly how fertile is the ground around there? Everything around the greater LV area seems like so much sand & rocks... I know, because my dad was in that business.
Obamas nuts are going to be in a California-shaped vise in about three weeks. I love to hear about bailing out California equates to moral hazard. Just like before the Bear Stearns bailout. And AIG.
If there is one thing O can't afford right now, it is bond market failure. A North Korean missle hitting Hawaii would be kinda bad, but a bond market failure for O would be much, much worse. And not just for the US....if interest rates spike, you can pretty much turn out the lights in Eastern Europe.
The problem is not just with California just about all of the states in the country will be cutting back drastically on their budgets. In Muncie Indiana they are cutting fire and police department workers. I suspect if tax (no one wants to raise taxes) the schools will be next. Lets see a load full of companies are cutting out the matching on their 401 K funds. At the national level we have doubled the debt. This is the "trickle down therory" in reverse. Welcome to America where we are all lower middle class! Lets hope all the spend now and no retirement savings yuppies can work into their 70's and 80's to make ends meet.
CR Dollar Bill you'se da Magna Charta!
...
also, go back and re-write all the crap I've written in the past
and steal more astute and cogent ideas from others and place them
place them chronologically ahead of said others so when the archives
are dug up by aliens in 200 years a cult will develop around the Duke... yeah, that's the ticket!
be kind to dumb animals and those who suffer from strange paranoia,
they can't it help if they've been in their garage too long
sitting on a ratty sofa propped up on one side by a server box
mumbling, Faster Pussycat! Type! Type! even though it's been years
since they have last encountered a featherless bi-ped version of such
One should always be drunk
That's all that matters; that's our one imperative need
So as not to feel time's horrible burden one which breaks your shoulders
And bows you down, you must get drunk without cease
packs a punch - black helicopters, picture of Mark 'Deep Throat' Felt,
a touch of Brazil and North by Northwest, BHO, a monkey and Ben & Bardem
& coda music is from O.Welles' broadcast of War of the Worlds.
Ken's binding id to application name. I can run three duplicate ids because I'm using three different browsers. I wonder if that could be part of the post doubling problem. I'd use either IP and limit to one instance per NIC card or bind to window handle,
I've seen weird behavior when binding to application name like Windows not uaranteeing delivery to the right window. If contents are identical, I suppose it wouldn't matter but....
The quotation is from Richard Olney, Grover Cleveland's AG, in response to a request that the nascent ICC be strangled in its cradle:
"The Commission . . . is, or can be made, of great use to the railroads. It satisfies the popular clamor for a government supervision of the railroads, at the same time that that supervision is almost entirely nominal. Further, the older such a commission gets to be, the more inclined it will be found to take the business and railroad view of things. . . . The part of wisdom is not to destroy the Commission, but to utilize it."
However newly-minted the expression "regulatory capture" may be, the concept has a long history.
hey Volker
is there a news video clip somewhere? I'd like to mesh it in with my new Ben vid in development...
did you all see Charlie Gasbag's defense of Ben yesterday on CNBC... "I would have held a gun to Ken Lewis's head to make the
deal..."
and this is an example of TV journalism?
it's hard for me to watch it also, but at night I have no access to the Net... "that's Cambodia, Captain"
well, I'm not sure I want to recommend it, after all friends don't let friends watch CNBC, but last night Cramer went off on him, so did the ditzy Burnett, this morning the three way beat up continues with Quckster, quesadilla and the wormy snarky prick Liesmann
Why is everything kinda flat overnight? Waiting for glodot? Nikki bounced a bit, regional currencies got a trim, UST 7year did some weird looking prep trades before the upjags started back to previous close. Futures are flat almost everywhere. Some genius says shorting S&P is back, go bloomie, talk about ear to the ground.
Can't help thinking it may be basic exceptionalism, and generational. At least I hope it's generational. Don't think you can de-program this kind of thinking.
It's never okay to do what they did, not just once but many times. And Paulsen should be dragged off of Skull Island, stripped of his Skeltor cape and sceptor and tried for the crimes he committed. The one difference between him and Hitler is Hitler made the trains run on time.
....we never had to convert to DTV..........all of our stations come in off repeaters (from Vegas) that never changed over. You could never find that out until after 6/12 when the old TVs kept working.
shill... the Chinese buying that oil company Addax - EHP and I had discussions about the Chinese diversifying their commodity supply array. Burma deals, mineral deals in
Vietnam (that want to send in a huge operation to basically mine the hell out of Central Highlands in Nam and Gen. Giap went nuts but it looks like its a done deal...
Giap, "they bring their wives and children...") seems logical to me... the Iraq financing war thing doesn't fly IMO
...
Black Star - what's wrong with Chinese TV? for me, after about 20 minutes of CNBC I turn the station and watch CCTV in an attempt to rekindle my Mandarin skills, might need 'em someday. (I watched the SuperBowl on CCTV, the only carrier... wasn't carried here on ESPN... straight broadcast w/o announcers, except the analysis by 3 Chinese guys at half time... they had there older Madden type and 2 younger dudes agreeing with everything he said....LOL)
Would Issa or Grayson care what the network guys have to say? Would love to know how much public opinion is swayed by Cramer. Anyway, we get the hearing today regardless, no?
Issa needs to go on the offensive. He needs some of his 'friends' to go on the counter attack (his two Senators for ex.), put the talking heads back on their heels, open up an investigation against them from another committee. I swear, just like the unions, these guys don't know how to ball up a fist and smack 'em in the mouth.
June 25 (Bloomberg) -- Wall Street’s largest trade group has started a campaign to counter the “populist” backlash against bankers, enlisting two former aides to Treasury Secretary Henry Paulson to spearhead the effort.
In memos of confidential meetings with top financial executives, the Securities Industry and Financial Markets Association said it began this month the “execution phase” of the operation, which pledges to “embrace change” and accountability. The plan targets policy makers and the media in New York, London, Washington and Brussels and calls for a “city-by-city, grass roots” approach.
June 25 (Bloomberg) -- Bets against the Standard & Poor’s 500 Index rose for the first time since March as investors increased short sales of health-care companies including Merck & Co. and Cardinal Health Inc.
Correct! They gotta eat rubber chicken with a whole bunch of Rotary clubs before anything will budge. And they don't want to do that. They may not even know how to do that.
"The Securities Industry and Financial Markets Association" is about to discover there are some things that cannot be "spun." Wiping out $3T and counting in paper wealth is one of them. Perhaps it is their intent but SIFMA is setting themselves up as the lightning rod for public anger.
My oldest has been trying like mad to find work, there literally is nothing out there for a teenager, back when I was 17 you could tell your boss to F off if they busted your balls, walk out the door and have another job in less than a day or so. Today forget it. Teens are in big trouble as far as the working environment is concerned.
Looks like they will be staying home much longer too.....which if fine by me....but one must also instill there are no free rides, I refuse to raise Bums, Boys or Girls....No work fine there is plenty to do around the homestead.
WASHINGTON (MarketWatch) - First-time claims for state unemployment benefits rose unexpectedly in the latest week, the Labor Department reported Thursday. The number of initial claims in the week ending June 20 rose 15,000 to 627,000. It's the highest level since mid-May. The consensus forecast of Wall Street economists was for claims to fall slightly.
Claims in the previous week were revised to an increase of 7,000 to 612,000 compared with the initial estimate of a increase of 3,000 to 608,000. A Labor Department official said that some states reported more end-of-school-year claims. Many states allow bus drivers and cafeteria workers to file for unemployment during school breaks. Meanwhile, the number of Americans receiving state jobless benefits held steady rose 29,000 to 6.74 million in the week ending June 13. The four-week moving average of continuing claims fell 3,250 to 6.76 million.
The advance number of actual initial claims under state programs, unadjusted, totaled 566,586 in the week ending June 20, an increase of 8,548 from the previous week. There were 358,159 initial claims in the comparable week in 2008.
And the govt response? Exactly the opposite of what is needed; higher taxes.
It's not the rise of 15K that is significant. It's the elevated level of 627K.
1) We can't create jobs fast enough.
2) We can't inject/print/monetize into the system fast enough.
3) This is a blackhole economy. Deflation Deflation Deflation...
--bh
"which pledges to “embrace change” and accountability"
let me see if I've got this right. The banking industry is finally worried about being hanged in the streets by the common man - thinking JQ Public might be "over-reacting". Now, they are professing their love of change and "accountability" through a bunch of high-priced (Democratic, mind you) lobbyists and "spin-doctors"?
I don't think they've yet grasped the serious nature of this, the "Populist Overreaction".
"The supervisor “would be an additional, parallel regulatory system representing a major burden, a potentially punitive approach, and significant indefinable regulatory risk,” Alex Pollock, a fellow at the Washington-based American Enterprise Institute, testified yesterday at a House Financial Services Committee hearing on the proposal."
Ximinez: NOBODY expects the Great Recession! Our chief weapon is surprise...surprise and fear...fear and surprise.... Our two weapons are fear and surprise...and ruthless inefficiency.... Our three weapons are fear, surprise, and ruthless inefficiency...and an almost fanatical devotion to the Banksters.... Our four...no... Amongst our weapons.... Amongst our weaponry...are such elements as fear, surprise.... I'll come in again.
Cardinal Biggles! Bring out... the Quanatative Easing.
blackhat (profile) wrote on Thu, 6/25/2009 - 5:44 am
Rob Dawg,
That might read /higher taxes, fewer services, debased currency, fewer goods, fewer jobs, mild anarchy/
It could be that Libertarian steak in me that irks so many on this board but it tells me that most of those others go away once we charge fewer taxes and spend within those means.
Well, if we cut capital gains taxes, there will be fewer unemployment benefits, and fewer government jobs. This is good because the stock market will create jobs. Bankers still need their toilets cleaned.
It could be that Libertarian steak in me that irks so many on this board but it tells me that most of those others go away once we charge fewer taxes and spend within those means.
Great segment on Marketplace yesterday about an LA woman who lost her $800/month job as a lunch lady. She only worked the job so her kids could get a free lunch during the summer.
Things are so bad, she'll probably have to move back to Louisiana .
"“We’re concerned about the potential impact on the ability to innovate, on competition and on efficiency,” said James Mahoney, director of public policy at Charlotte, North Carolina- based Bank of America Corp., the largest U.S. bank by assets."
BWAAAAAAHHHHHAAAAAAAAAAA
NOW, they're concerned. What about when they innovated all those billions in losses?
I think this is the longest CR has ever waited before the pig has popped up with the weekly claims data.
broward (homepage, profile) wrote on Thu, 6/25/2009 - 5:52 am
it tells me that most of those others go away once we charge fewer taxes and spend within those means.
And the Libertarian streak in you is wrong.
You're still thinking in cash flow terms, like our leaders.
Ultimately, the disparity of wealth has to be fixed and it won't happen without major default.
I'm talking about going forward. You are talking about correcting accumulated past inequities. Compromise; systemic default then rational tax and spend policies.
My sis-in-law worked as an i.t. person for about the biggest law firm in her state and was laid off in February, and really hit the streets trying to find another job, but kept on being told she was overqualified in the dozen interviews or so she had with prospective employers, and the last severance check came in early May~
Unemployment checks for 33 weeks would have allowed her to make monthly house payments, with a little left over for ramen and gruel perhaps?
Last week another law firm hired her to do what she was doing previously, for 40% less money. The only reason she got the job was a lawyer there previously @ the law firm where she worked, recognized how talented she was, and snatched her up.
Sorry to hear about your sisters travails. Law firms are crashing hard in this depression. I'm glad she found something even though it was a harsh pay cut.
So when will we get the CRE bust?
Been waiting so long...
When the bears have lost everything on SRS.
When will Calif. bust? How long can a state limp along on nothingness?
Weird.
California will not bust, the bond markets will. And California will close a chunk of the budget gap by not having to make bond payments.
Warren Buffett said on Wednesday that the U.S. economy has "no bounce" and will take time to recover but there is no risk of deflation to push it further into despair.
Gee Warren thx for factual insight on first part and bullshit on second part
When will Calif. bust? How long can a state limp along on nothingness?
Now, Nemo.
Cliff diving has commenced!!!
Just follow the bk filings!!!
GGP was a big one, with more to come!!
Someday this war's gonna end...
It's amazing we're all still limping along. There's nothing holding us up but debt. Thankfully the wheels turn slowly, but honestly I don't see a positive turning point any time soon. I hope I'm really missing something.
(06-24) 13:20 PDT SOUTH SAN FRANCISCO -- A homeless man is on trial in San Mateo County on charges that he smacked a fellow transient in the face with a skateboard as the victim was engaged in a conversation about quantum physics, authorities said today. Jason Everett Keller, 40, allegedly accosted another homeless man, Stephan Fava. Fava was chatting with an acquaintance, who is also homeless, about "quantum physics and the splitting of atoms," according to prosecutors. Keller joined in the conversation and, for reasons unknown, got upset, authorities said. He picked up his skateboard and hit Fava in the face with it, splitting his lip, prosecutors said. Fava also fell and broke his ankle, although how this happened wasn't exactly known, authorities said.
My crystal ball says Wed July 15th is the triple witching hour for California.
barfly - lol! Good thing some of us aren't in striking distance of each other.
It Takes A Citi (nice post from By Simon Johnson)
It Takes A Citi « The Baseline Scenario
You cannot design a financial system that is immune to crash – this would be like declaring earthquakes illegal.
Now is anyone actually listening in the Obama admin?
Bueller Bueller anyone
barfly (profile) wrote on Thu, 6/25/2009 - 4:18 am
When will Calif. bust? How long can a state limp along on nothingness?
- how long do ransom negotiations last?
Depends on the sniper.
Shades of Cleavon Little.
CR I just want to extend a massive hat tip to you. Even after the bulls have been slaughtered, the matadors are unemployed and the obvious has rang true as the catherdal bells do, you've kept up with the postings and analysis. It keeps us with ADD most attentive and entertained. Thanks a million bro! Best wishes!
(I use that now and again... hope its ok!)
OT: Ugly local school board meeting tonight in Socal:
Beyond the Blackboard
The budget was supposed to be approved Monday night, but failed 3-4. In tonights emergency meeting, the 3 who voted for the original budget were absent. The remaining 4 board members changed the budget to set a 25-1 student-teacher ratio for 1st grade and took the entire cost out of administrator salaries. A 10% haircut out of the blue. Note that the board has already cut about 400 jobs. The board also asked for a state mediator to negotiate lower salaries with the teachers union who has refused to budge so far.
Reality is setting in and it is fugly.
Dawg, you killed me. Like my pap always said, "Son, when you're dead, lay down."
The Res vs Com is pretty common.
Res fails first and they stop shopping.
Comm has no customers and closes up shop.
The Comm owner/investor has deeper pockets, but is smart enough to stop paying good money after bad and bails faster.
Just my theory.
I'd argue with the current leverage in the Comm system the owner/investor has only lint in their pockets....
I managed comm properties a few years ago. Most of these guys at least "had" deep pockets.
Warren Buffett said on Wednesday
What, you trust the word of a guy who lost billions buying into the Crash?
barfly (profile) wrote on Wed, 6/24/2009 - 9:44 pm
Dawg, you killed me. Like my pap always said, "Son, when you're dead, lay down."
I just hope I'm not going to turn into "Behind Enemy Lines" reporting from my bankerdome whenever the zombies let up enough to get an iPhone text out during the 2 hrs a day with electricity. Look, don't worry about me. CR is down in Orange County. When things get bad send the helicopter for him first.
@Coinz:
fugly indeed. did you happen to catch my pigged ping at oc watchdog last thread? methinks a similar fight at previously obscure local OC water districts is soon to follow.
natives with RLS
uce
Coinz,
Great link...the blogger does a nice job of reporting an obviously very tense set of meetings. Correct me if I'm wrong, but isn't Dana Point-San Clemente-Capistrano one of the ritzier parts of OC?
BTW I noticed no RM Nixon named schools
He lost his ass on Carmax and USG. GS.... not so much!
................
josap - I think it might depend on the size and nature of the company. A buddy and I were just laughing about tishman speyer's stuyvesant town.... Others have done just fine... (BXP for example)
He called him a boson.
I'm on the east coast this month... its been 9 straight days of rain... and more importantly i cant keep up with the westside this late.... nytol....
but isn't Dana Point-San Clemente-Capistrano one of the ritzier parts of OC?
not exactly ritzy- but still in fantasyland. i think the swallows have been skipping Capistrano lately too.
@unhappycakeeater,
Missed the oc watchdog link, I'll go back and look for it. I can tell you for sure that a lot of municipalities will be raising water rates up to 40% this year due to increases and penalties from water districts.
@kung.fu.panda,
Dana Point-San Clemente-Capistrano is pretty nice, but Newport-Mesa is the richest. Dana Point-San Clemente-Capistrano is probably the worst run (or maybe second but I don't want to disparage another district). Half the board was recalled last year and replaced with stooges from the "education alliance" PAC. Well, the people are getting what they deserve. (disclosure: I am married to an educator)
nades (homepage, profile) wrote on Wed, 6/24/2009 - 9:57 pm
I'm on the east coast this month... its been 9 straight days of rain... and more importantly i cant keep up with the westside this late.... nytol....
Nothing beats the smug satisfaction of having your California native kids say to you "oh, this is why you left" in response to the New England weather last week.
.......actually, the swallows have been camping out SW by about 5-miles at the dump....
I moved 6 years ago... the younger brother 4..... The stubborn sister just agreed to make the pilgrimage.... Its a done deal...
Manana me-ho's y me-ha's ! !
p. 203: The Nixon Monument
As befits a legend: building a tomb ... - Google Books
fuchas catchin' a bid.
.....wonder if the California Franchise Tax Board would accept IOUs as payment for state tax returns - they'll be issuing them in a week or so, right? Last time they issued them, banks treated them like money - instant credit on checking accounts. Wonder if it'll be different this go-around.
Dawg,
"Behind Enemy Lines" in the Ventura countryside? Try the Hollywood Hills between LA & the Valley -- it'll be 100 degrees night and day just from the fires in the flatlands on either side below us.
Coinz,
Thanks...I wouldn't want to be on a school board right now.
Yogi, exactly.
nytol
Tropico 3 on its way to PC and Xbox 360
http://www.geek.com/articles/games/tropico-3-on-its-way-to-pc-and-xbox-360-20090624/
Publisher Kalypso has announced that the banana-republic-dictator sim Tropico is getting a new installment, which will hit PC and Xbox 360 this fall.
Tropico 3 will put players in the shoes of “El Presidente,” a leader who earned his position through non-specific but dubious means. The series’ cult-favorite blend of city building, management and dictatorial hijinks is expected to continue. Screenshots from the game’s official website reveal that the series has made the jump into full 3D.
Series creators PopTop is now part of Firaxis Games, so development duties have been handed off to Bulgarian studio Haemimont Games, which has a long history of real-time strategies and city-builders with limited releases outside of Europe.
BSR:
just curious, is it THE Blackstar ranch? my dad grew up in silverado and modjeska...
uce
You could discover what the CA IOUs are worth by using them to pay your next federal tax payment.
Speyer should have known better, being a local. Supposed to dump the bag on Koreans or some sheikh.
Unemployed Hit the Road to Find Jobs
Unemployed Hit the Road to Find Jobs - WSJ.com
By JENNIFER LEVITZ
LINCOLN, N.H. -- After seven months without a paycheck, Tim Ryan turned into a werewolf.
Laid off from a construction job, Mr. Ryan finally found work last month playing the wolfman at Clark's Trading Post, a tourist attraction in the White Mountains of New Hampshire. For $12 an hour, about half what he made before, he dons furry rags, a coonskin cap and an eye patch and jumps out of the woods when the Trading Post's steam train chugs by, snarling and growling at passengers.
The job is nearly two hours north of his home in Pittsfield, N.H., too far to commute. So Mr. Ryan sleeps in an old, mold-ridden cottage with no running water that someone lets him use free. "These days, you have to do things you never thought you would," says the 52-year-old. "You have to go to extremes."
Reconsidering Wealth Managers
Wealthy Investors Reconsider Their Money Managers - WSJ.com
By SHELLY BANJO
A breakdown of longstanding business models and the crisis in client confidence due to last year’s financial havoc mean a new reality for wealth-management firms.
More than a quarter of high-net-worth individuals withdrew assets from their wealth-management firm or left their firm altogether in 2008, according to the 13th annual World Wealth Report. The report was compiled by Bank of America Corp.’s Merrill Lynch Global Wealth Management and Capgemini Group.
Mental Note: Treasuries may gain as the Fed avoids signaling it’s moving toward interest-rate increases, according to Goldman Sachs.
“Long-dated bonds still have a decent rally ahead of them,” Dominic Wilson, senior global economist at Goldman Sachs in New York, wrote in a note yesterday. “Although stabilizing economic news will inevitably prompt talk of exit strategies, we think many policy makers will be at pains to emphasize that they are a long way from tightening.”
Goldman went “long” 10-year Treasury futures, betting yields will fall by between 30 and 40 basis points, Wilson said.
Yields are falling in other parts of the credit markets as the Fed’s efforts meet with some success.
The Libor-OIS spread, which measures banks’ willingness to lend, has narrowed to 37 basis points, from a record 364 basis points in October.
"is it THE Blackstar ranch?"
.......Kind of.........we received the domain name from a business relationship with a past owner of said campground in Orange County. When we moved out here, we decided to also use the name here, since we had a zillion polo shirts with the BSR name and "I survived a weekend at Black Star Ranch!" - had to use them up some way. LOL.
So if we sell enough we can nail Jas and Goldman at the same time? I'm in.
BSR,
Just checked out the website, and liked what I saw. When you plan on finishing "construction" of the other pages?
"isn't Dana Point-San Clemente-Capistrano one of the ritzier parts of OC?"
no.
fresh may #s, just out:
San Juan Capistrano 92675 $287,500 -5.74%
the beachy stuff has held up - sort of - with SFRs near the water holding over 600K, but the more inland stuff has just gotten smoked
Can they collect from the insolvent? Typical short term thinking..
U.S. Banks Fight Obama’s Consumer Agency to Protect Their Fees
U.S. Banks Fight Obama’s Consumer Agency to Protect Their Fees - Bloomberg.com
By Alison Vekshin
June 25 (Bloomberg) -- U.S. banks are fighting the Obama administration plan to create a consumer agency for financial services as they seek to protect fees, such as credit-card penalties that have almost doubled to $19 billion in five years.
Fees imposed by banks accounted for 53 percent of industry income in 2008, up from 35 percent in 1995, according to R.K. Hammer Investment Bankers, a credit-card advisory firm. JPMorgan Chase & Co., the second-largest U.S. bank by assets, said such revenue doubled in the first quarter. A U.S. Consumer Financial Protection Agency also may add costs by expanding scrutiny.
......it's one of the many projects on the list........LOL...... It seems I work harder now than when I was working. I'd much rather weed and plant than play with HTML though, so it's low on the list. Thnx, TJ for asking......
the more inland stuff has just gotten smoked
by CSC?
Necessity, not choice drives evolution.
Moody’s Says World Has ‘No Credible Alternative’ to U.S. Dollar
Moody’s Says World Has ‘No Credible Alternative’ to U.S. Dollar - Bloomberg.com
By Keiko Ujikane and Jason Clenfield
June 24 (Bloomberg) -- Moody’s Investors Service said the dollar’s unchallenged status as the world’s reserve currency is supporting U.S.’s Aaa credit rating even as the nation’s budget deficit is set to quadruple this year.
“In the absence of a credible alternative it’s hard to see abrupt changes and that’s not even in the interest of the creditors,” Pierre Cailleteau, managing director of sovereign risk at Moody’s, said in an interview in Tokyo yesterday. The credit rating “remains solid,” he said earlier at a briefing.
The credit rating “remains solid,” he said earlier at a briefing.
Payoff?
Or Peyote?
"by CSC? "
if only - south OC radiates an antiseptic quality that could kill even the kindest buzz
Ruby Slippers?
The credit rating “remains solid,” he said earlier at a briefing.
Hysterical! Found this at Zero Hedge...
Wall Street Begins Campaign to Thwart ‘Populist Overreaction’
“It is imperative that in this historic period of reform, the industry be recognized as playing a positive role in seeking change and providing solutions to the problems we face,” one of the documents said.
Foxes, henhouse, etc.
BSR,
Curious, exactly how fertile is the ground around there? Everything around the greater LV area seems like so much sand & rocks... I know, because my dad was in that business.
Obamas nuts are going to be in a California-shaped vise in about three weeks. I love to hear about bailing out California equates to moral hazard. Just like before the Bear Stearns bailout. And AIG.
If there is one thing O can't afford right now, it is bond market failure. A North Korean missle hitting Hawaii would be kinda bad, but a bond market failure for O would be much, much worse. And not just for the US....if interest rates spike, you can pretty much turn out the lights in Eastern Europe.
as Bruce sings, 'in the wee wee hours'
Real Estate Associations Want Appraisers To Inflate Home Prices
Real Estate Associations Want Appraisers To Inflate Home Prices
The problem is not just with California just about all of the states in the country will be cutting back drastically on their budgets. In Muncie Indiana they are cutting fire and police department workers. I suspect if tax (no one wants to raise taxes) the schools will be next. Lets see a load full of companies are cutting out the matching on their 401 K funds. At the national level we have doubled the debt. This is the "trickle down therory" in reverse. Welcome to America where we are all lower middle class! Lets hope all the spend now and no retirement savings yuppies can work into their 70's and 80's to make ends meet.
CR Dollar Bill you'se da Magna Charta!
...
also, go back and re-write all the crap I've written in the past
and steal more astute and cogent ideas from others and place them
place them chronologically ahead of said others so when the archives
are dug up by aliens in 200 years a cult will develop around the Duke... yeah, that's the ticket!
be kind to dumb animals and those who suffer from strange paranoia,
they can't it help if they've been in their garage too long
sitting on a ratty sofa propped up on one side by a server box
mumbling, Faster Pussycat! Type! Type! even though it's been years
since they have last encountered a featherless bi-ped version of such
sitting on a ratty sofa
I have a brand new office chair, thank you very much.
guyv77 wrote: In Muncie Indiana they are cutting fire and police department workers.'
where's The Music Man when you need him?
Ireland's GDP to Fall 13.5%, More Bank Losses: IMF - Financials * Europe * News * Story - CNBC.com
Check this out....Ireland's GDP down 13.5% per the IMF. Fortunately I'm sure there will be no increase in employment there.
dukes of moral hazard abound, eh?
hey pal, only one Duke can sit on this board!
But soft!
What light through yonder window breaks?
It is the Duke, and the other Duke is the Con!!
Arise, fair Kook,, and kill this envious goon
Who is already sick and pale with grief
the trouble with tribbles?
One should always be drunk
That's all that matters; that's our one imperative need
So as not to feel time's horrible burden one which breaks your shoulders
And bows you down, you must get drunk without cease
...........................................................................................................Baudelaire.........
JD... words of wisdom my friend, words of wisdom!
here's a vid-mash-up titled No Country for Old Ben
YouTube - No Country for Old Ben: Javier Bardem Tells Bernanke he's a Fool!
packs a punch - black helicopters, picture of Mark 'Deep Throat' Felt,
a touch of Brazil and North by Northwest, BHO, a monkey and Ben & Bardem
& coda music is from O.Welles' broadcast of War of the Worlds.
Ken's binding id to application name. I can run three duplicate ids because I'm using three different browsers. I wonder if that could be part of the post doubling problem. I'd use either IP and limit to one instance per NIC card or bind to window handle,
I've seen weird behavior when binding to application name like Windows not uaranteeing delivery to the right window. If contents are identical, I suppose it wouldn't matter but....
.......I think CR posted in early April about Chinese lending problem ,now Chink gov. steps some measures.......
....... Business Times Online:? .......
broward?
Was that in response to an MSM characterization of bloggers skulking about their basements in deshabille?
Jay.D.
Nice to see you upholding the CR literary standard.
Found this gem at - of all places - WSJ.
The quotation is from Richard Olney, Grover Cleveland's AG, in response to a request that the nascent ICC be strangled in its cradle:
"The Commission . . . is, or can be made, of great use to the railroads. It satisfies the popular clamor for a government supervision of the railroads, at the same time that that supervision is almost entirely nominal. Further, the older such a commission gets to be, the more inclined it will be found to take the business and railroad view of things. . . . The part of wisdom is not to destroy the Commission, but to utilize it."
However newly-minted the expression "regulatory capture" may be, the concept has a long history.
we're done folk, the character assassination of Issa is going full steam ahead
hey Volker
is there a news video clip somewhere? I'd like to mesh it in with my new Ben vid in development...
did you all see Charlie Gasbag's defense of Ben yesterday on CNBC... "I would have held a gun to Ken Lewis's head to make the
deal..."
and this is an example of TV journalism?
it's hard for me to watch it also, but at night I have no access to the Net... "that's Cambodia, Captain"
......how so, volker?
China Buys Addax for £4.4bn to Tap Iraqi Oil
cryptogon.com » China Buys Addax for £4.4bn to Tap Iraqi Oil
Who provided the credit for the U.S. to go to war in Iraq? Mmm hmm.
See the part in bold below for a hint on where oil prices are headed.
well, I'm not sure I want to recommend it, after all friends don't let friends watch CNBC, but last night Cramer went off on him, so did the ditzy Burnett, this morning the three way beat up continues with Quckster, quesadilla and the wormy snarky prick Liesmann
Cramer paraphrase/quote: we need a little less democracy
I'm not going to write it out, folk. These fuckers are saying 'what's so wrong about throwing the rules out the window, this was an emergency'
Folk, this is the way, the short and straightest way to hell in a handcart
CNBC is not one of the 6-fuzzy channels I receive via rabbit-ears.
Good yawning marynam. Wez my coffee.
Why is everything kinda flat overnight? Waiting for glodot? Nikki bounced a bit, regional currencies got a trim, UST 7year did some weird looking prep trades before the upjags started back to previous close. Futures are flat almost everywhere. Some genius says shorting S&P is back, go bloomie, talk about ear to the ground.
C
jeebus, BSR, you still be on a dial up
volker the viking:
Can't help thinking it may be basic exceptionalism, and generational. At least I hope it's generational. Don't think you can de-program this kind of thinking.
I don't understand 'basic exceptionalism' is it anything like situational ethics?
LOL........barely not.....DSL, when the chinese in the area AREN'T uploading Chinese TV......
Let's just call it exceptionalism, plain and simple.
Could we get term limits on talking heads?
I deliberately didn't get a digital converter box. The next time that I receive something with rabbit ears, it had better have fur.
just throw the bastards out of your life boat
It's never okay to do what they did, not just once but many times. And Paulsen should be dragged off of Skull Island, stripped of his Skeltor cape and sceptor and tried for the crimes he committed. The one difference between him and Hitler is Hitler made the trains run on time.
....we never had to convert to DTV..........all of our stations come in off repeaters (from Vegas) that never changed over. You could never find that out until after 6/12 when the old TVs kept working.
........re: Skull Island..........
http://1.bp.blogspot.com/_H2DePAZe2gA/SkKdDr7aR4I/AAAAAAAAJTQ/O_36karKUmQ/s1600-h/1f214c.png
yep, just shout down opposition, bully the rest, make the rules benefit the few, and voila
what constitution?
BSR's receipt of this post may take a while and be a bit fuzzy when he gets it
he may have to get the wonderful woman he lives with to climb that ladder once again and twist the antenna
C, thx. I've gotten used to reading your morning update. In fact, some mornings I come here just to find it
shill... the Chinese buying that oil company Addax - EHP and I had discussions about the Chinese diversifying their commodity supply array. Burma deals, mineral deals in
Vietnam (that want to send in a huge operation to basically mine the hell out of Central Highlands in Nam and Gen. Giap went nuts but it looks like its a done deal...
Giap, "they bring their wives and children...") seems logical to me... the Iraq financing war thing doesn't fly IMO
...
Black Star - what's wrong with Chinese TV? for me, after about 20 minutes of CNBC I turn the station and watch CCTV in an attempt to rekindle my Mandarin skills, might need 'em someday. (I watched the SuperBowl on CCTV, the only carrier... wasn't carried here on ESPN... straight broadcast w/o announcers, except the analysis by 3 Chinese guys at half time... they had there older Madden type and 2 younger dudes agreeing with everything he said....LOL)
Would Issa or Grayson care what the network guys have to say? Would love to know how much public opinion is swayed by Cramer. Anyway, we get the hearing today regardless, no?
I like CNBS, It's second to the Comedy Channel on my list!
yes we get the hearing
Issa needs to go on the offensive. He needs some of his 'friends' to go on the counter attack (his two Senators for ex.), put the talking heads back on their heels, open up an investigation against them from another committee. I swear, just like the unions, these guys don't know how to ball up a fist and smack 'em in the mouth.
I can just imagine the firestorm if gov't gets heavy-handed with media. But you are right. They use their voice responsibly, or get called out.
Someone needs a spine implant.
Wall Street Begins Campaign to Thwart ‘Populist Overreaction’
Wall Street Begins Campaign to Thwart ‘Populist Overreaction’
By Robert Schmidt
June 25 (Bloomberg) -- Wall Street’s largest trade group has started a campaign to counter the “populist” backlash against bankers, enlisting two former aides to Treasury Secretary Henry Paulson to spearhead the effort.
In memos of confidential meetings with top financial executives, the Securities Industry and Financial Markets Association said it began this month the “execution phase” of the operation, which pledges to “embrace change” and accountability. The plan targets policy makers and the media in New York, London, Washington and Brussels and calls for a “city-by-city, grass roots” approach.
Short Selling of S&P 500 Increases for First Time Since March
Short Selling of S&P 500 Increases for First Time Since March - Bloomberg.com
By Matt Townsend
June 25 (Bloomberg) -- Bets against the Standard & Poor’s 500 Index rose for the first time since March as investors increased short sales of health-care companies including Merck & Co. and Cardinal Health Inc.
Lucifer: moral--Don't change the problem, change the situation.
I have a feeling that it might not work any more..
//Lucifer: moral--Don't change the problem, change the situation.//
Correct! They gotta eat rubber chicken with a whole bunch of Rotary clubs before anything will budge. And they don't want to do that. They may not even know how to do that.
This is exactly why America will not grow exports and the Auto industry will soon not need Detroit in a global market.
freep.com | | Detroit Free Press
"The Securities Industry and Financial Markets Association" is about to discover there are some things that cannot be "spun." Wiping out $3T and counting in paper wealth is one of them. Perhaps it is their intent but SIFMA is setting themselves up as the lightning rod for public anger.
That is what I was alluding to.
//"The Securities Industry and Financial Markets Association" is about to discover there are some things that cannot be "spun."//
Good to see my $60b and counting investment in GM is yielding the expected resukts; technology transfer, outsourcing, investment in China,
As confirmed by the 627k jobless claims.
627K jobless claims? What's the green shoots explanation?
Futures just shit the bed.
Must mean it's a kermit day.
so long and thanks for all the fish
RD,
This must be part of the Millions of jobs and infrastructure Obama is creating, just not for Americans.
Jobless claims highest since mid-May - MarketWatch
627,000 sickening really
My oldest has been trying like mad to find work, there literally is nothing out there for a teenager, back when I was 17 you could tell your boss to F off if they busted your balls, walk out the door and have another job in less than a day or so. Today forget it. Teens are in big trouble as far as the working environment is concerned.
Looks like they will be staying home much longer too.....which if fine by me....but one must also instill there are no free rides, I refuse to raise Bums, Boys or Girls....No work fine there is plenty to do around the homestead.
Jobless claims highest since mid-May
Jobless claims highest since mid-May - MarketWatch
WASHINGTON (MarketWatch) - First-time claims for state unemployment benefits rose unexpectedly in the latest week, the Labor Department reported Thursday. The number of initial claims in the week ending June 20 rose 15,000 to 627,000. It's the highest level since mid-May. The consensus forecast of Wall Street economists was for claims to fall slightly.
Claims in the previous week were revised to an increase of 7,000 to 612,000 compared with the initial estimate of a increase of 3,000 to 608,000. A Labor Department official said that some states reported more end-of-school-year claims. Many states allow bus drivers and cafeteria workers to file for unemployment during school breaks. Meanwhile, the number of Americans receiving state jobless benefits held steady rose 29,000 to 6.74 million in the week ending June 13. The four-week moving average of continuing claims fell 3,250 to 6.76 million.
From the report:
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 566,586 in the week ending June 20, an increase of 8,548 from the previous week. There were 358,159 initial claims in the comparable week in 2008.
And the govt response? Exactly the opposite of what is needed; higher taxes.
Pig me CR!
oh unexpectedly. sheesh.
The four-week moving average of continuing claims fell 3,250 to 6.76 million.
I smell another acronym in the spirit og BFF. I suggest BET; Benefits Expiration Thursday.
It's not the rise of 15K that is significant. It's the elevated level of 627K.
1) We can't create jobs fast enough.
2) We can't inject/print/monetize into the system fast enough.
3) This is a blackhole economy. Deflation Deflation Deflation...
--bh
"which pledges to “embrace change” and accountability"
let me see if I've got this right. The banking industry is finally worried about being hanged in the streets by the common man - thinking JQ Public might be "over-reacting". Now, they are professing their love of change and "accountability" through a bunch of high-priced (Democratic, mind you) lobbyists and "spin-doctors"?
I don't think they've yet grasped the serious nature of this, the "Populist Overreaction".
Rob Dawg,
That might read /higher taxes, fewer services, debased currency, fewer goods, fewer jobs, mild anarchy/
"The supervisor “would be an additional, parallel regulatory system representing a major burden, a potentially punitive approach, and significant indefinable regulatory risk,” Alex Pollock, a fellow at the Washington-based American Enterprise Institute, testified yesterday at a House Financial Services Committee hearing on the proposal."
Thank you to the American Fuckhead Institute.
Ximinez: NOBODY expects the Great Recession! Our chief weapon is surprise...surprise and fear...fear and surprise.... Our two weapons are fear and surprise...and ruthless inefficiency.... Our three weapons are fear, surprise, and ruthless inefficiency...and an almost fanatical devotion to the Banksters.... Our four...no... Amongst our weapons.... Amongst our weaponry...are such elements as fear, surprise.... I'll come in again.
Cardinal Biggles! Bring out... the Quanatative Easing.
BSR,
If we're hanging bankers in the streets, they'll have company from both parties...
CRE is waiting for go dough.
blackhat (profile) wrote on Thu, 6/25/2009 - 5:44 am
Rob Dawg,
That might read /higher taxes, fewer services, debased currency, fewer goods, fewer jobs, mild anarchy/
It could be that Libertarian steak in me that irks so many on this board but it tells me that most of those others go away once we charge fewer taxes and spend within those means.
Well, if we cut capital gains taxes, there will be fewer unemployment benefits, and fewer government jobs. This is good because the stock market will create jobs. Bankers still need their toilets cleaned.
it tells me that most of those others go away once we charge fewer taxes and spend within those means.
And the Libertarian streak in you is wrong.
You're still thinking in cash flow terms, like our leaders.
Ultimately, the disparity of wealth has to be fixed and it won't happen without major default.
@blackhat
1) We can't create jobs fast enough.
Sure we can. We just need to adjust the birth-death assumptions. The BLS has no problem "creating" jobs.
broward: and by disparity, just for my edification as well as the edification of the flock, you mean concentration of wealth
It could be that Libertarian steak in me that irks so many on this board but it tells me that most of those others go away once we charge fewer taxes and spend within those means.
Great segment on Marketplace yesterday about an LA woman who lost her $800/month job as a lunch lady. She only worked the job so her kids could get a free lunch during the summer.
Things are so bad, she'll probably have to move back to Louisiana .
[on Consumer Financial Protection Agency]
"“We’re concerned about the potential impact on the ability to innovate, on competition and on efficiency,” said James Mahoney, director of public policy at Charlotte, North Carolina- based Bank of America Corp., the largest U.S. bank by assets."
BWAAAAAAHHHHHAAAAAAAAAAA
NOW, they're concerned. What about when they innovated all those billions in losses?
Pure scum.
I think this is the longest CR has ever waited before the pig has popped up with the weekly claims data.
broward (homepage, profile) wrote on Thu, 6/25/2009 - 5:52 am
it tells me that most of those others go away once we charge fewer taxes and spend within those means.
And the Libertarian streak in you is wrong.
You're still thinking in cash flow terms, like our leaders.
Ultimately, the disparity of wealth has to be fixed and it won't happen without major default.
I'm talking about going forward. You are talking about correcting accumulated past inequities. Compromise; systemic default then rational tax and spend policies.
A bit of banksterlove from Tyler D. Emails re the BAC/ML moment:
Zero Hedge: The Fed's Emails
Poor Californians hurt by budget cuts | Marketplace From American Public Media
I think this is the longest CR has ever waited before the pig has popped up with the weekly claims data.
Clearly CR needs a summer intern to handle these trivial posts. Poor guy never gets to sleep in.
check out profits on GDP - nonfinancials down ~50B financials up $110B or so. Healthy
Getting a job 2009 style...
My sis-in-law worked as an i.t. person for about the biggest law firm in her state and was laid off in February, and really hit the streets trying to find another job, but kept on being told she was overqualified in the dozen interviews or so she had with prospective employers, and the last severance check came in early May~
Unemployment checks for 33 weeks would have allowed her to make monthly house payments, with a little left over for ramen and gruel perhaps?
Last week another law firm hired her to do what she was doing previously, for 40% less money. The only reason she got the job was a lawyer there previously @ the law firm where she worked, recognized how talented she was, and snatched her up.
correction:
We cannot create REAL jobs fast enough.
And notice the fake BLS job creation, even fully rigged cannot create fake jobs fast enough.
Now I feel better.
--bh
drill baby drill revisited
Ice on fire: The next fossil fuel - environment - 24 June 2009 - New Scientist
Juvenal,
Sorry to hear about your sisters travails. Law firms are crashing hard in this depression. I'm glad she found something even though it was a harsh pay cut.