Sunday, September 09, 2012
Debt collectors cash in on student loan roundup
NYT: Debt collectors cash in on student loan roundup - Business - US business - The New York Times - NBCNews.com
In all, nearly one in every six borrowers with a loan balance is in default.
The amount of defaulted loans — $76 billion — is greater than the yearly tuition bill for all students at public two- and four-year colleges and universities
In all, nearly one in every six borrowers with a loan balance is in default.
The amount of defaulted loans — $76 billion — is greater than the yearly tuition bill for all students at public two- and four-year colleges and universities
Jeff Bezos And The End of PowerPoint As We Know It
Jeff Bezos And The End of PowerPoint As We Know It - Forbes
I know what some of you are thinking—it works for Bezos because he’s revealing products that people can see and touch.
Let me be clear—picture superiority works in any presentation, even for the most complex ideas.
I know what some of you are thinking—it works for Bezos because he’s revealing products that people can see and touch.
Let me be clear—picture superiority works in any presentation, even for the most complex ideas.
Decision on Muskegon County jail, juvenile facilities still weeks away following planning event
Decision on Muskegon County jail, juvenile facilities still weeks away following planning event | MLive.com
However, the final decision by the County Board of Commissioners is likely still several weeks away, perhaps coming after the Nov. 6 general election.
However, the final decision by the County Board of Commissioners is likely still several weeks away, perhaps coming after the Nov. 6 general election.
Muskegon County commissioner, township trustee candidates maintain primary wins after recounts
Muskegon County commissioner, township trustee candidates maintain primary wins after recounts | MLive.com
Based on the recount, Hughes gained three votes and finished with a 772-748 edge over Plummer, who is completing his first two-year term as a county commissioner.
Based on the recount, Hughes gained three votes and finished with a 772-748 edge over Plummer, who is completing his first two-year term as a county commissioner.
Congressman Huizenga facing Muskegon Democratic challenger who received 1,800-plus write-in votes
Congressman Huizenga facing Muskegon Democratic challenger who received 1,800-plus write-in votes | MLive.com
Muskegon City Commissioner Willie German Jr. received nearly 2,000 write-in votes in the Aug. 7 primary election
Muskegon City Commissioner Willie German Jr. received nearly 2,000 write-in votes in the Aug. 7 primary election
Saturday, September 08, 2012
The Terrifying Line in Obama's Speech That Everyone Missed
The Terrifying Line in Obama's Speech That Everyone Missed - Investors.com
Instead of stirring rhetoric filled with hope and promise, Obama pledged that under his leadership, "our path is harder" and "our road is longer."
Seriously?
After four years of the worst economic recovery since the Depression, falling incomes, lower-paying jobs, increased hopelessness and exploding debt, all Obama has to offer is that he'll make this nightmare last even longer?
Instead of stirring rhetoric filled with hope and promise, Obama pledged that under his leadership, "our path is harder" and "our road is longer."
Seriously?
After four years of the worst economic recovery since the Depression, falling incomes, lower-paying jobs, increased hopelessness and exploding debt, all Obama has to offer is that he'll make this nightmare last even longer?
Canada cuts ties with Iran, closes embassy, orders Iranian diplomats home
Canada cuts ties with Iran, closes embassy, orders Iranian diplomats home http://www.montrealgazette.com/news/Canada+cuts+ties+with+Iran+closes+embassy+orders+Iranian+diplomats+home/7206256/story.html#ixzz25tapdxGi
Foreign Affairs Minister John Baird has severed Canadian ties with Iran over its sponsorship of terrorism and amid fears about the safety of diplomats in the country.
Baird says the Canadian embassy in Tehran will close immediately and Iranian diplomats in Canada have been given five days to leave.
Foreign Affairs Minister John Baird has severed Canadian ties with Iran over its sponsorship of terrorism and amid fears about the safety of diplomats in the country.
Baird says the Canadian embassy in Tehran will close immediately and Iranian diplomats in Canada have been given five days to leave.
No talk of auto bailouts' ugly side
No talk of auto bailouts' ugly side | The Detroit News | detroitnews.com
In moving to get GM through bankruptcy, the task force and its bosses at Treasury effectively shafted 22,000 salaried retirees of the former Delphi Corp., the long-time GM parts supplier the automaker spun off in 1999.
Despite an 85 percent funding level in its pension fund, Treasury urged the Pension Benefit Guaranty Corp. to seize the Delphi pension plan.
The net effect: Many retirees saw their annual payouts cut by as much as two thirds, even as union members were "topped up" with taxpayer dollars from the Troubled Asset Relief Program; their former colleagues at GM saw comparatively minor cuts to their pensions; and key members of the auto task force still won't tell congressional investigators who made the call to treat Delphi's salaried retirees differently than everyone else.
In moving to get GM through bankruptcy, the task force and its bosses at Treasury effectively shafted 22,000 salaried retirees of the former Delphi Corp., the long-time GM parts supplier the automaker spun off in 1999.
Despite an 85 percent funding level in its pension fund, Treasury urged the Pension Benefit Guaranty Corp. to seize the Delphi pension plan.
The net effect: Many retirees saw their annual payouts cut by as much as two thirds, even as union members were "topped up" with taxpayer dollars from the Troubled Asset Relief Program; their former colleagues at GM saw comparatively minor cuts to their pensions; and key members of the auto task force still won't tell congressional investigators who made the call to treat Delphi's salaried retirees differently than everyone else.
State canvassers finalize six initiatives for Nov. ballot
State canvassers finalize six initiatives for Nov. ballot
http://www.detroitnews.com/article/20120908/POLITICS01/209080346#ixzz25t0ZrAZp
Proposal 1 will be a referendum on the repeal of Public Act 4 — the emergency manager law — followed by proposals for constitutional amendments to guarantee the right of collective bargaining (Proposal 2), increase use of renewable energy (Proposal 3), allow home health care workers to bargain (Proposal 4), require a two-thirds vote by the Legislature to pass any tax increases (Proposal 5) and mandate a public vote on any new international border crossing (Proposal 6).
http://www.detroitnews.com/article/20120908/POLITICS01/209080346#ixzz25t0ZrAZp
Proposal 1 will be a referendum on the repeal of Public Act 4 — the emergency manager law — followed by proposals for constitutional amendments to guarantee the right of collective bargaining (Proposal 2), increase use of renewable energy (Proposal 3), allow home health care workers to bargain (Proposal 4), require a two-thirds vote by the Legislature to pass any tax increases (Proposal 5) and mandate a public vote on any new international border crossing (Proposal 6).
Those Jobless Numbers Are Even Worse Than They Look
Mortimer Zuckerman: Those Jobless Numbers Are Even Worse Than They Look - WSJ.com
They are working part-time only because they've been unable to find full-time work.
This involuntary army of what's called "underutilized labor" has been hovering for months at about 15% of the workforce.
Include the eight million who have simply given up looking, and the real unemployment rate is closer to 19%.
They are working part-time only because they've been unable to find full-time work.
This involuntary army of what's called "underutilized labor" has been hovering for months at about 15% of the workforce.
Include the eight million who have simply given up looking, and the real unemployment rate is closer to 19%.
Baby Boomers and Strategic Defaults - a Demographic Study
Mish's Global Economic Trend Analysis: Baby Boomers and Strategic Defaults - a Demographic Study: Why Did People Walk Away? Did They Struggle With Morality? Would they Recommend Walking Away to Others?
Moreover, a massive debt overhang still remains and the pending foreclosure pool is mammoth.
Moreover, a massive debt overhang still remains and the pending foreclosure pool is mammoth.
Friday, September 07, 2012
Frank Marshall Davis and the Subversion of the Democratic Party
Articles: Frank Marshall Davis and the Subversion of the Democratic Party
In other words, the Hawaiian Communist Party went underground, realizing that it lacked political viability.
Hawaii's communists changed their tactics, concentrating instead on the mainstream Democratic Party, even running their members in local elections to seize delegate positions.
One of those who not only urged this tactic, but was himself elected to a Democratic precinct was Frank Marshall Davis.
With that, the steady subversion of the Democratic Party was on.
This began a long march to transform the Democratic Party from the party of Truman and JFK to the party of Nancy Pelosi and Barack Obama.
In other words, the Hawaiian Communist Party went underground, realizing that it lacked political viability.
Hawaii's communists changed their tactics, concentrating instead on the mainstream Democratic Party, even running their members in local elections to seize delegate positions.
One of those who not only urged this tactic, but was himself elected to a Democratic precinct was Frank Marshall Davis.
With that, the steady subversion of the Democratic Party was on.
This began a long march to transform the Democratic Party from the party of Truman and JFK to the party of Nancy Pelosi and Barack Obama.
Going Ape
Oh, dear. Speaking of animals, several bloggers note that Dr. Mann’s lawyer’s last celebrity client was Joe Camel – the tobacco industry’s anthropomorphized dromedary.
By “anthropomorphized dromedary,” I mean they put him in a suit and got rid of the hump — in much the same way that the “hockey stick” graph got rid of the hump of the Medieval Warm Period.
Eastwood says his convention appearance was 'mission accomplished'
The Carmel Pine Cone's first story of the week
But in a wide-ranging interview with The Pine Cone Tuesday from his home in Pebble Beach, he said he had conveyed the messages he wanted to convey, and that the spontaneous nature of his presentation was intentional, too.
But in a wide-ranging interview with The Pine Cone Tuesday from his home in Pebble Beach, he said he had conveyed the messages he wanted to convey, and that the spontaneous nature of his presentation was intentional, too.
Breitbart film bares roots of 'Occupy' movement
Breitbart film bares roots of 'Occupy' movement | Fox News
“The Occupy movement is far from over.
We are approaching a European-type financial crisis. we are coming to a radical austerity and then you are going to see it taken to the streets and it’s not going to be pretty.”
“The Occupy movement is far from over.
We are approaching a European-type financial crisis. we are coming to a radical austerity and then you are going to see it taken to the streets and it’s not going to be pretty.”
Are Chinese Banks Hiding “The Mother of All Debt Bombs”?
Are Chinese Banks Hiding “The Mother of All Debt Bombs”? | The Diplomat
Chinese LGFVs are known mainly for their unique ability to sink perfectly good money into bottomless holes in the ground.
So taking on such a huge mountain of debt can mean only one thing — a future wave of default when the projects into which LGFVs have piled funds fail to yield viable returns to service the debt.
Chinese LGFVs are known mainly for their unique ability to sink perfectly good money into bottomless holes in the ground.
So taking on such a huge mountain of debt can mean only one thing — a future wave of default when the projects into which LGFVs have piled funds fail to yield viable returns to service the debt.
Arkansas coach John L. Smith files for Chapter 7 bankruptcy
Arkansas coach John L. Smith files for Chapter 7 bankruptcy | Michigan State Spartans | Detroit Free Press | freep.com
“From a personal standpoint, I don’t want the university being embarrassed, but I’m not embarrassed,” Smith said at the time.
“It’s something that’s happened.
I made some mistakes, and to be honest with you, I’m a football coach, not a businessman.”
“From a personal standpoint, I don’t want the university being embarrassed, but I’m not embarrassed,” Smith said at the time.
“It’s something that’s happened.
I made some mistakes, and to be honest with you, I’m a football coach, not a businessman.”
Kids begin brown-bag boycott of healthier school menus
Kids begin brown-bag boycott of healthier school menus - Minneapolis News and Weather KMSP FOX 9
Sundby told FOX 9 News they've heard similar complaints from other schools, but there's little they can do unless a change comes from Washington.
Old school lunch rules had minimum calorie requirements, but no maximum.
Now, guidelines have strict limits that the schools and food service providers have no choice but to meet.
Sundby told FOX 9 News they've heard similar complaints from other schools, but there's little they can do unless a change comes from Washington.
Old school lunch rules had minimum calorie requirements, but no maximum.
Now, guidelines have strict limits that the schools and food service providers have no choice but to meet.
Man dies after doc takes lunch during kidney op
Man dies after doc takes lunch during kidney op - The Local
At noon sharp, the head anesthetist left the operating room to go for lunch.
Fifteen minutes later, the head nurse anesthetist also left the patient and went for lunch.
No other anesthetist was called in to take over responsibility for the doctor who was on his lunch break
At noon sharp, the head anesthetist left the operating room to go for lunch.
Fifteen minutes later, the head nurse anesthetist also left the patient and went for lunch.
No other anesthetist was called in to take over responsibility for the doctor who was on his lunch break
U.S. August payrolls rise 96,000, jobless rate falls to 8.1%. Still makes 43 mo…
THAT’S CONVENIENT: U.S. August payrolls rise 96,000, jobless rate falls to 8.1%. Still makes 43 mo…
"From a reader:
I am betting you heard from other finance guys already, but these numbers were bad, bad, bad. We were hoping for at least 130k, and you really need 150k just to stay even.
What’s happening here is that people are leaving the jobs market.
Once a worker goes off his 99 weeks of unemployment payments (I refuse to call anything beyond the 27 weeks they paid for “insurance”), he heads straight to Social Security disability.
JP Morgan noted this several months ago, and the trend seems to be accelerating.
Once you’re on SSDI, you’re off the unemployment rolls.
Last month, 368,000 people stopped looking for work.
I am certain that we will continue to pay for those people, only they now help the unemployment number by ceasing to exist.
Top two claims are for back pain and stress.
Both are difficult to disprove."
"From a reader:
I am betting you heard from other finance guys already, but these numbers were bad, bad, bad. We were hoping for at least 130k, and you really need 150k just to stay even.
What’s happening here is that people are leaving the jobs market.
Once a worker goes off his 99 weeks of unemployment payments (I refuse to call anything beyond the 27 weeks they paid for “insurance”), he heads straight to Social Security disability.
JP Morgan noted this several months ago, and the trend seems to be accelerating.
Once you’re on SSDI, you’re off the unemployment rolls.
Last month, 368,000 people stopped looking for work.
I am certain that we will continue to pay for those people, only they now help the unemployment number by ceasing to exist.
Top two claims are for back pain and stress.
Both are difficult to disprove."
Report: Great Lakes water levels may flirt with record lows
Report: Great Lakes water levels may flirt with record lows | Metro Detroit | Detroit Free Press | freep.com
Lake levels are measured monthly. The record lows for Huron and Michigan were recorded in 1964 and 1965.
This November, the levels could drop below the November 1964 level, which was about 28 inches below the year-to-year average for the month of November.
Lake levels are measured monthly. The record lows for Huron and Michigan were recorded in 1964 and 1965.
This November, the levels could drop below the November 1964 level, which was about 28 inches below the year-to-year average for the month of November.
Thursday, September 06, 2012
Prepare For The Coming Housing Collapse
Prepare For The Coming Housing Collapse - Business Insider
Wall Street economists, analysts and other pundits have smugly noted that a consensus has been reached that housing is bottoming.
So it’s time for me to show you why this consensus view is pure rubbish.
Wall Street economists, analysts and other pundits have smugly noted that a consensus has been reached that housing is bottoming.
So it’s time for me to show you why this consensus view is pure rubbish.
Amazon unveils new, larger Kindle Fire models
My Way News - Amazon unveils new, larger Kindle Fire models
Amazon also unveiled a premium Kindle Fire model, one with the ability to connect to the 4G cellular networks that phone companies are building.
It will cost $499 and come with 32 gigabytes of memory and an 8.9-inch screen.
A data plan will cost $50 a year.
Amazon also unveiled a premium Kindle Fire model, one with the ability to connect to the 4G cellular networks that phone companies are building.
It will cost $499 and come with 32 gigabytes of memory and an 8.9-inch screen.
A data plan will cost $50 a year.
Muskegon County commissioner, township trustee candidates maintain primary wins after recounts
Muskegon County commissioner, township trustee candidates maintain primary wins after recounts
MLive.com: Democratic challenger Susie Hughes’ primary election victory over Muskegon County Commissioner Scott Plummer was upheld this week as part of multiple recounts conducted for local races.
MLive.com: Democratic challenger Susie Hughes’ primary election victory over Muskegon County Commissioner Scott Plummer was upheld this week as part of multiple recounts conducted for local races.
Iran, Hezbollah establish training base in Nicaragua
Iran, Hezbollah establish training base in Nicaragua | The Times of Israel
Iran has established a training base in northern Nicaragua near the border with Honduras that is used by Hezbollah, Israel Radio reported Thursday.
Approximately 30 members of the terrorist organization reside inside the area, which is closed to locals. The Hezbollah men reportedly receive all their supplies from Tehran.
Iran has established a training base in northern Nicaragua near the border with Honduras that is used by Hezbollah, Israel Radio reported Thursday.
Approximately 30 members of the terrorist organization reside inside the area, which is closed to locals. The Hezbollah men reportedly receive all their supplies from Tehran.
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