State’s 2013-14 budget proposal reasoned declining birth rates and increasing migration as cause
By July Hispanics expected to match state’s white non-Hispanic population
California’s Hispanic population is slated to become the state’s majority ethnicity by the end of this year according to a new report by the governor’s office.
New ethnicity trends outlined in Gov Jerry Brown’s 2013-14 budget proposal revealed the state’s expected new majority while reasoning the state’s declining birth rates [...]
CHART: Interest On National Debt Vs. Defense Spending
Washington’s Spending Insanity Must Be Stopped
We’re borrowing money to pay interest on money we’ve already borrowed.
In a decade, federal spending to pay for the interest on America’s debt will exceed total spending on the defense budget by $125 billion, or 20 percent, according to CBO.
A fiscal cliff drop in the bucket.
CHART – CBO Projection Of Federal Spending 2002 – 2022.
Just a quick chart to demonstrate that the fiscal [...]
In a decade, federal spending to pay for the interest on America’s debt will exceed total spending on the defense budget by $125 billion, or 20 percent, according to projections from the Congressional Budget Office and the Office of Budget Management. The projections are based on President Barack Obama’s current budget plan.
Here’s a chart from the Republican side of the Senate Budget Committee that shows 2022 national defense spending vs. net [...]
Flyjin’ feel vindicated, worry for those left in Japan
The Japan Times
By PATRICK BUDMAR
June 12, 2012
Kate (not her real name), worked in Tokyo’s Harumi Triton office tower
By March 12, Kate’s father was advising her that the situation in Fukushima was dire, the media could probably not be trusted, and that she ought to think about leaving.
“Based on his experience on Three Mile Island, he knew that the media reports would be [...]
The Jersey Journal
June 4, 2012
As part of an effort to improve public safety, commissioners have approved a contract to install security cameras in town.
The contract with PackeTalk LLC, which is based in Lyndhurst, to provide wireless security surveillance systems in West New York will not exceed $31,000, according to a resolution adopted last month.
The company also services Guttenberg and North Bergen, and its work is “head over heels above [...]
From the amount of money spent each year in the United States on law enforcement, one might assume crime continues to be a growing problem.
But that’s not the case at all.
Crime rates today are at their lowest levels in 30 years and the rate of violent crime has dipped to a 39-year low. Yet the number of arrests between 2009 and 2010 declined only slightly, according to the Justice [...]
Fri May 25, 2012 1:10am EDT
(Reuters) – Claims by four of Wall Street’s main market makers against Nasdaq over Facebook’s botched IPO are likely to exceed $100 million.
Most of us here know that today most of our money is originally created as a debt. Interest is charged on it. If one pays both interest and principal on that original debt, that money is (supposedly) removed from monetary circulation.
Our ability to pay is:
M * V = sumof( P * T )
M = Money Supply
V = Velocity of Money
P = Value of Payment
T = Number of recurring Transactions for [...]
“After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to be an active and significant part of the Government’s response to the financial crisis. It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost).”
The latest chart from the Senate Republican Budget Committee, pointing out that under President Obama’s budget, the U.S. government will be spending more in 2019 to pay the interest on the national debt than it will be to defend America:
The value of U.S. tax breaks exceeds $1 trillion, which may give both parties potential areas to cut costs and alleviate the cost of changing the tax code, the Wall Street Journal reported, citing a study.
The Congressional Research Service report found the biggest tax break is likely to be valued at $164 billion annually in 2014 and is on employer-provided health insurance, while employer-provided pensions are the second-biggest exclusion at about [...]
From Washington Post:
As home-owning baby boomers age, they’ll eventually be leaving their homes. But it’s unclear whether the next generation will be eager or willing to buy them, according to anew paper from the Bipartisan Policy Center. As John Pitkin and Dowell Myers wrote in 2008,“The sell-off of seniors’ former housing creates a potential supply that will potentially exceed younger adults’ effective demand.”
Babyboomers will be vacating more homes than they occupy as they [...]
The budget has to be the outcome of an overall goal setting process. I know many folks who use budgets to try and control their spending, but they almost always commit the terrible mistake of setting their spending budgets based on past spending habits. This only institutionalizes the bad habits that have developed over the years.
I recommend that folks start the budgeting process by defining the goal. Is it to save $xxx [...]
Bloomberg has just disclosed a statement from the German Budgetary Committee which is critical to the future shape of the EFSF:
GERMAN CDU/CSU PARLIAMENTARY SPOKESMAN SCHARLACK SPEAKS ON EFSF
GERMAN BUDGET COMMITTEE SETS CONDITIONS FOR EFSF LEVERAGING
GERMAN BUDGET COMMITTE GUIDELINES VOTE EXCLUDES LEVERAGING
BUDGET COMMITTEE SAYS EFSF REPOS MUSTN’T RAISE GUARANTEES
GERMAN BUDGET COMMITTEE SAYS EFSF LEVERAGING MUST EXCLUDE ECB
GERMAN BUDGET COMMITTEE BACKS EFSF DRAFT GUIDELINES
So far so good… But this…
BUDGET COMMITTEE SAYS [...]
October 14, 2011
While politicians and the mainstream media waited weeks to acknowledge Occupy Wall Street, it looks as though the public hasn’t ignored the movement. A new poll shows that more Americans favor the protests than they do President Obama.
A new poll released on Thursday from Time assessed Americans’ opinions of all things current events, only to reveal that the general public’s favor of the [...]
Sept 19, 2011
At least one billion becquerels a day of radiation continue to leak from Japan’s Fukushima nuclear plant after the March earthquake and tsunami.
Experts say that the total amount of radiation leaked will exceed amounts released from Chernobyl, making Fukushima the worst nuclear disaster in history.
Al Jazeera’s Steve Chao reports from the Japanese capital of Tokyo.
Flood berm collapsed at Nebraska nuclear plant – A berm holding back floodwater at the Fort Calhoun Nuclear Station has collapsed. The U.S. Nuclear Regulatory Commission says it’s monitoring the Missouri River flooding at the plant, which has been shut down since early April for refueling. The 2,000-foot berm collapsed about 1:30 a.m. Sunday, allowing the swollen river to surround two buildings at the [...]
China began diversifying away from the US dollar in earnest in the first four months of this year, most likely by buying far more European government debt than US dollar assets, according to estimates from Standard Chartered Bank.
China’s foreign exchange reserves expanded by around $200bn in the first four months of the year, with three-quarters of the new inflow invested abroad in non-US [...]
With continued volatility in gold and silver, today King World News interviewed the legendary Jim Sinclair to get his take on the markets. Sinclair surprised KWN by discussing a price target for gold that to some would seem unimaginable. When asked about trading for gold this summer Sinclair stated, “I think most of your analysis of secular trends will look and say no, no, [...]
‘Flopping’ – A New Type Of Scam In The Housing Market
Here’s how it works: A real estate agent or broker identifies properties with severely depressed values. These could be properties with mortgages that exceed the present values or they could be short sales or foreclosures.
A property is valued using a “broker price opinion.” The broker’s “opinion” is a low-ball price, because his intention is to profit [...]
Voters rejected property-tax increases in 12 municipalities today, while two towns approved special ballots to exceed the new 2 percent municipal property-tax cap. Get all of the local election results here.
Brick Township and Lambertville voters passed the measures. In Brick, which would have had to privatize garbage collection if the referendum had failed, the move squeaked by with 51.43 percent of the vote, a margin of 478 votes.
In Lambertville, 59.02 [...]
The monitor told NHK that no one can enter the plant’s No. 1 through 3 reactor buildings because radiation levels are so high that monitoring devices have been rendered useless. He said even levels outside the buildings exceed 100 millisieverts in some places.
NJ is actually ruled by a bunch of left-wing liberal judges for those of you who didn’t know. Well, this is a statement BY THE JUDGE:
“Despite spending levels that meet or exceed virtually every state in the country, and that saw a significant increase in spending levels from 2000 to 2008, our ‘at risk’ children are now moving further from proficiency,” he said.
DUH!! It’s not about MONEY – it [...]
Source: reuters // Reuters
TOKYO, March 12 (Reuters) – The death toll from a massive earthquake and tsunami in northeastern Japan is expected to exceed 1,000, Kyodo news agency said on Saturday.
The defence ministry said 1,800 houses had been destroyed in Fukushima prefecture, Kyodo reported. (Reporting by Chisa Fujioka; Editing by Edmund Klamann)