Monday, June 03, 2013
The Green Jobs Chimera: Europe is mulling import tariffs…
Instapundit » Blog Archive » WALTER RUSSELL MEAD: The Green Jobs Chimera: Europe is mulling import tariffs on cheap Chinese s…:
"WALTER RUSSELL MEAD: The Green Jobs Chimera:
Europe is mulling import tariffs on cheap Chinese solar panels to protect its own manufacturers; it could learn something from America’s attempt to do the same last year.
Hint: it didn’t work. . . .
The market is heavily distorted at this point; governments are propping up a nascent technology that can’t compete on price on its own.
States can continue to subsidize producers and tax imports all they want, but that doesn’t fix the underlying problem: this technology isn’t ready for market.
The greens have deluded themselves into thinking that somehow market forces didn’t apply to manufacturing “clean” tech.
It just illustrates the lack of policy competence in the green community, and the cleverness of crony capitalists, who know the silly greens will lobby for your sweetheart deal if you sprinkle some of their favorite phrases into the promotional literature.
I think this is a charitable assessment.
Posted by Glenn Reynolds at 6:28 pm"
'via Blog this'
"WALTER RUSSELL MEAD: The Green Jobs Chimera:
Europe is mulling import tariffs on cheap Chinese solar panels to protect its own manufacturers; it could learn something from America’s attempt to do the same last year.
Hint: it didn’t work. . . .
The market is heavily distorted at this point; governments are propping up a nascent technology that can’t compete on price on its own.
States can continue to subsidize producers and tax imports all they want, but that doesn’t fix the underlying problem: this technology isn’t ready for market.
The greens have deluded themselves into thinking that somehow market forces didn’t apply to manufacturing “clean” tech.
It just illustrates the lack of policy competence in the green community, and the cleverness of crony capitalists, who know the silly greens will lobby for your sweetheart deal if you sprinkle some of their favorite phrases into the promotional literature.
I think this is a charitable assessment.
Posted by Glenn Reynolds at 6:28 pm"
'via Blog this'
Snyder declares financial emergency in Hamtramck
Snyder declares financial emergency in Hamtramck | Detroit Free Press | freep.com:
"In its report, the team cited a $3.3-million general fund deficit, which exceeds 5% of total general fund revenues of just more than $16 million.
The report also cited $1.6 million in delayed pension fund contributions."
"In its report, the team cited a $3.3-million general fund deficit, which exceeds 5% of total general fund revenues of just more than $16 million.
The report also cited $1.6 million in delayed pension fund contributions."
Feds toss Michigan complaint to ban Indian mascots for sports teams
Feds toss Michigan complaint to ban Indian mascots for sports teams | Detroit Free Press | freep.com:
"The complaint, filed earlier this year by the Michigan Department of Civil Rights, could have had national implications and would have forced schools to choose new mascots, names of imagery."
"The complaint, filed earlier this year by the Michigan Department of Civil Rights, could have had national implications and would have forced schools to choose new mascots, names of imagery."
747 Cargo Plane Crash in Afghanistan: Cause Determined
747 Cargo Plane Crash in Afghanistan: Cause Determined | Video - ABC News:
" the big armored vehicles on board, likely broke loose and slid to the back of the plane.
I think that the load they had these machinery floating inside the aircraft.
They might have moved or some of the locks broken and caused the vehicles to move back.
Reporter: Investigators say they found broken buckles that were supposed to hold the mraps in place. "
" the big armored vehicles on board, likely broke loose and slid to the back of the plane.
I think that the load they had these machinery floating inside the aircraft.
They might have moved or some of the locks broken and caused the vehicles to move back.
Reporter: Investigators say they found broken buckles that were supposed to hold the mraps in place. "
A new bait and switch farm bill
A new bait and switch farm bill:
"But more importantly, despite eliminating the Direct Payments waste, the new bill might actually make things worse. Instead of simply eliminating this outdated expense, Senate lawmakers replaced it with a new one that could very likely be more costly: the Shallow Loss Agricultural Risk Coverage program (ARC). As reported in the AEI paper, “Field of Schemes: The Taxpayer and Economic Welfare Costs of Shallow Loss Farming Programs,” authored by Bruce Babcock, Barry Goodwin, and myself, this program essentially guarantees that farmers receive approximately 89% of their expected incomes — a program about which no other business in America could dream. In effect, the program would issue payments to farmers when crop prices (and thus revenues) fall."
"But more importantly, despite eliminating the Direct Payments waste, the new bill might actually make things worse. Instead of simply eliminating this outdated expense, Senate lawmakers replaced it with a new one that could very likely be more costly: the Shallow Loss Agricultural Risk Coverage program (ARC). As reported in the AEI paper, “Field of Schemes: The Taxpayer and Economic Welfare Costs of Shallow Loss Farming Programs,” authored by Bruce Babcock, Barry Goodwin, and myself, this program essentially guarantees that farmers receive approximately 89% of their expected incomes — a program about which no other business in America could dream. In effect, the program would issue payments to farmers when crop prices (and thus revenues) fall."
Journalism professor says execute treasonous NRA members
Journalism professor says execute treasonous NRA members | The Daily Caller:
"Swindell is an associate professor of broadcast journalism at public, taxpayer-funded Marshall University. According to the school’s website, he has expertise in many areas including television news, media pop culture and automotive journalism."
"Swindell is an associate professor of broadcast journalism at public, taxpayer-funded Marshall University. According to the school’s website, he has expertise in many areas including television news, media pop culture and automotive journalism."
Laura Ingraham Shocks Chris Wallace With Syria Comments
Laura Ingraham Shocks Chris Wallace With Syria Comments | Fox News Insider:
"Laura Ingraham stunned host Chris Wallace on Fox News Sunday with her stance on this contentious topic. She pointed out that Syrian rebels have attacked Christians in the country.
“The idea that we are going to send arms to these people who are slaughtering Christians and have one goal which is to establish an Islamic caliphate throughout the Middle East […] is ludicrous.”
Host Chris Wallace interjected, “So wait, are you saying let [President Bashar al-Assad] stay in?”
Ingraham began to respond, “I’m saying America has got to grapple with this idea of limited power in a world where the parties are unknown, where their intentions are unknown and when we see their intentions…”
But a shocked Wallace interrupted once again, saying, “You sound like a congressman. Are you saying let Assad rule?”
“I say let them figure it out,” she answered bluntly."
"Laura Ingraham stunned host Chris Wallace on Fox News Sunday with her stance on this contentious topic. She pointed out that Syrian rebels have attacked Christians in the country.
“The idea that we are going to send arms to these people who are slaughtering Christians and have one goal which is to establish an Islamic caliphate throughout the Middle East […] is ludicrous.”
Host Chris Wallace interjected, “So wait, are you saying let [President Bashar al-Assad] stay in?”
Ingraham began to respond, “I’m saying America has got to grapple with this idea of limited power in a world where the parties are unknown, where their intentions are unknown and when we see their intentions…”
But a shocked Wallace interrupted once again, saying, “You sound like a congressman. Are you saying let Assad rule?”
“I say let them figure it out,” she answered bluntly."
Course ... adjustment
Course ... adjustment | Crain's Detroit Business:
"Liberal arts colleges add degrees, sports, incentives to contend in highly competitive market"
"Liberal arts colleges add degrees, sports, incentives to contend in highly competitive market"
The zero-tolerance war on kindergarteners
The zero-tolerance war on kindergarteners - Le·gal In·sur·rec·tion:
"3. 5-year old talks — yes talks — about Bubble Gun
Pennsylvania girl, 5, suspended for talk of ‘shooting’ a Hello Kitty ‘bubble gun’:
A 5-year-old girl chats up classmates while waiting for the bus after school.
"3. 5-year old talks — yes talks — about Bubble Gun
Pennsylvania girl, 5, suspended for talk of ‘shooting’ a Hello Kitty ‘bubble gun’:
A 5-year-old girl chats up classmates while waiting for the bus after school.
The topic: Playing with a Hello Kitty “bubble gun” that, with the flick of a finger, blows bubbles everywhere.
“I’ll shoot you, you shoot me, and we’ll all play together,” the kindergartner says.
The next day, that remark — which was made innocently, according to the lawyer for the girl’s family, who related the story — landed the young central Pennsylvanian child in the principal’s office.
Soon after, she was sent home after being issued a 10-day suspension for a “terroristic threat,” as indicated on the suspension form signed by Mount Carmel Area Elementary School Principal Susan Nestico. That and other documents were provided to CNN by Robin Ficker, the lawyer representing the girl and her mother."
“I’ll shoot you, you shoot me, and we’ll all play together,” the kindergartner says.
The next day, that remark — which was made innocently, according to the lawyer for the girl’s family, who related the story — landed the young central Pennsylvanian child in the principal’s office.
Soon after, she was sent home after being issued a 10-day suspension for a “terroristic threat,” as indicated on the suspension form signed by Mount Carmel Area Elementary School Principal Susan Nestico. That and other documents were provided to CNN by Robin Ficker, the lawyer representing the girl and her mother."
Sunday, June 02, 2013
Legislators? | Minds of Liberty
Legislators? | Minds of Liberty:
"House Joint Resolution O – this is a resolution to enshrine campaign finance laws in the State constitution.
The opening paragraph states, “The People Of The State Of Michigan Declare That They Have A Right To Know When Corporations Spend Money To Influence Elections Or Government Officials So They Can Make Informed Decisions And Hold Their Leaders Accountable.”
Read the entire proposal if you are so inclined, but here are some high points:
This would include any for-profit or nonprofit corporation, limited liability company or partnership, joint venture, joint stock company, company, firm, or any enterprise incorporated in this state or another.
Except for corporate municipalities and LABOR ORGANIZATIONS. (my emphasis)"
"House Joint Resolution O – this is a resolution to enshrine campaign finance laws in the State constitution.
The opening paragraph states, “The People Of The State Of Michigan Declare That They Have A Right To Know When Corporations Spend Money To Influence Elections Or Government Officials So They Can Make Informed Decisions And Hold Their Leaders Accountable.”
Read the entire proposal if you are so inclined, but here are some high points:
This would include any for-profit or nonprofit corporation, limited liability company or partnership, joint venture, joint stock company, company, firm, or any enterprise incorporated in this state or another.
Except for corporate municipalities and LABOR ORGANIZATIONS. (my emphasis)"
LST 393 plays host to Muskegon business leaders as chamber provides tourism update
LST 393 plays host to Muskegon business leaders as chamber provides tourism update | MLive.com:
"The future of tourism in Muskegon County will rely on a number of projects that are now under development, he told the chamber group.
They include the Michigan Heritage Park at Hilt’s Landing, three announced microbreweries, completion of the Russell Block Market and Unruly Brewing Co., HighPoint Flats apartments, a new public transit center downtown, relocation of the Muskegon Farmer’s Market to West Western Avenue and future redevelopment of the former Sappi paper mill property, Lukens said."
"The future of tourism in Muskegon County will rely on a number of projects that are now under development, he told the chamber group.
They include the Michigan Heritage Park at Hilt’s Landing, three announced microbreweries, completion of the Russell Block Market and Unruly Brewing Co., HighPoint Flats apartments, a new public transit center downtown, relocation of the Muskegon Farmer’s Market to West Western Avenue and future redevelopment of the former Sappi paper mill property, Lukens said."
Worthless Degree Awarness Month
Captain Capitalism: Worthless Degree Awarness Month:
"I finally figured it out, and if you follow me on this, I think we might actually be able to do some good.
Today, I declare June to be "Worthless Degree Awareness Month."
It may sound funny, but it really is no laughing matter.
The single worst thing we do to our young kids is cripple them financially for the rest of their lives by telling them to waste 4-8 years of their youth and anywhere between $50,000-$150,000 on worthless degrees. Economically, the education bubble is on par with the housing bubble, but this time it is within our own control to stop it.
Since most kids graduate from high school during early June, it's the perfect time to "raise awareness" (I always wanted to use that vile phrase for something that's actually good, legit and noble) about the threats and dangers of majoring in a worthless field.
All we have to do is get the word out there.
Got a blog? Start linking and citing articles about worthless degrees.
Got a child or a family member? Sit down and have a chat with them.
Got a PTA group you know? Have someone come speak to them.
And as always if you don't know how to broach the subject with your children, buying them a copy of "Worthless" is definitely a diplomatic and caring way to tell them about the economic realities of choosing a good degree."
"I finally figured it out, and if you follow me on this, I think we might actually be able to do some good.
Today, I declare June to be "Worthless Degree Awareness Month."
It may sound funny, but it really is no laughing matter.
The single worst thing we do to our young kids is cripple them financially for the rest of their lives by telling them to waste 4-8 years of their youth and anywhere between $50,000-$150,000 on worthless degrees. Economically, the education bubble is on par with the housing bubble, but this time it is within our own control to stop it.
Since most kids graduate from high school during early June, it's the perfect time to "raise awareness" (I always wanted to use that vile phrase for something that's actually good, legit and noble) about the threats and dangers of majoring in a worthless field.
All we have to do is get the word out there.
Got a blog? Start linking and citing articles about worthless degrees.
Got a child or a family member? Sit down and have a chat with them.
Got a PTA group you know? Have someone come speak to them.
And as always if you don't know how to broach the subject with your children, buying them a copy of "Worthless" is definitely a diplomatic and caring way to tell them about the economic realities of choosing a good degree."
Wales Police Order Removal of “Obey Our Laws / Respect Our Beliefs / Or Get Out of Our Country”
The Volokh Conspiracy » Wales Police Order Removal of “Obey Our Laws / Respect Our Beliefs / Or Get Out of Our Country”
So reports the South Wales Argus (thanks to Prof. Bill Poser for the link):
A NEWPORT shopkeeper has been forced by police to remove a T-shirt from his shop window because they felt it “could be seen to be inciting racial hatred.”But of course — freedom of speech is all well and good, but once it starts offending people ....
Matthew Taylor, 35, the owner of Taylor’s clothes store on Emlyn Walk in the city, printed up and displayed the T-shirt with the slogan: “Obey our laws, respect our beliefs or get out of our country” after Drummer Lee Rigby, 25, was killed in near Woolwich barracks in London last week.
But following a complaint from a member of the public, police came to his store and threatened to arrest him unless he removed the Tshirt from sight....
A spokeswoman for Gwent police confirmed: “We did have a call from a member of the public. We visited the shop and asked him to remove it (the T-shirt) as it could be seen to be inciting racial hatred.” ...
Newport city councillor, Majid Rahman said: “I believe in freedom of speech and defend his rights to say what he wants, but once it starts offending people then it’s a police matter and it’s up to them whether they think it’s broken any laws.”
Union, company to pay $10k to truck driver Washington Free Beacon
Union, company to pay $10k to truck driver | Washington Free Beacon: "
The Laborers International Union of North America (LIUNA) and Penn Line Service agreed to pay a West Virginia man $10,000, acknowledging that he was wrongfully terminated from his job after refusing to make the political donations."
The Laborers International Union of North America (LIUNA) and Penn Line Service agreed to pay a West Virginia man $10,000, acknowledging that he was wrongfully terminated from his job after refusing to make the political donations."
HOUSE PANEL: REPORT FINDS $50M FOR IRS CONFERENCES
News from The Associated Press:
"That total included $4 million for an August 2010 conference in Anaheim, Calif., for which the agency did not negotiate lower room rates, even though that is standard government practice, according to a statement by the House Oversight and Government Reform Committee.
Instead, some of the 2,600 attendees received benefits, including staying in expensive presidential suites.
In addition, 15 outside speakers were paid a total of $135,000 in fees, with one paid $17,000 to talk about "leadership through art," the House committee said."
"That total included $4 million for an August 2010 conference in Anaheim, Calif., for which the agency did not negotiate lower room rates, even though that is standard government practice, according to a statement by the House Oversight and Government Reform Committee.
Instead, some of the 2,600 attendees received benefits, including staying in expensive presidential suites.
In addition, 15 outside speakers were paid a total of $135,000 in fees, with one paid $17,000 to talk about "leadership through art," the House committee said."
Jury acquits Brandon man in killing of wife's lover
Jury acquits Brandon man in killing of wife's lover | Tampa Bay Times:
TAMPA — As she learned her septuagenarian husband would not be punished for killing her 32-year-old lover, Johnna Lynn Flores, 41, cried tears of joy.
Once Wald was released from jail, she said, he had promised her a special celebration. "Because my husband puts me first, he's taking me to the Waffle House," Flores said.
It was what amounted to a happy ending for the starring couple in a tragic and inimitably Floridian morality tale involving sex, liquor, self-defense law, erectile dysfunction and a man shot to death with his pants around his knees.
After two days of testimony in Hillsborough Circuit Court, a jury decided Wald committed no crime when he fatally shot Walter Conley, a man less than half his age, on March 10.
Wald woke around midnight in his Brandon home and found Conley and Flores having sex on the floor in the living room.
He took a .38 revolver from his bedroom and shot Conley in the stomach and head.
The Many Ways That Cities Cook Their Bond Books
Steve Malanga: The Many Ways That Cities Cook Their Bond Books - WSJ.com:
"The Harrisburg charges are part of a broader SEC effort to scrutinize state and local government issuers in the nation's $3 trillion municipal-bond market.
"Anyone who follows municipal finance knows that budgets can sometimes be a work of fiction," says Anthony Figliola, a vice president at Empire Government Strategies, a Long Island-based consulting firm to local governments.
"Harrisburg is the tip of the iceberg."
And a mighty iceberg it is.
The 2012 State of the States report, released in November by Harvard's Institute of Politics, the University of Pennsylvania's Fels Institute of Government and the American Education Foundation, found state and local governments are carrying more than $7 trillion in debt, an amount equal to nearly half the federal debt.
Often, the report said, "States do not account to citizens in ways that are transparent, timely or accessible."
"The Harrisburg charges are part of a broader SEC effort to scrutinize state and local government issuers in the nation's $3 trillion municipal-bond market.
"Anyone who follows municipal finance knows that budgets can sometimes be a work of fiction," says Anthony Figliola, a vice president at Empire Government Strategies, a Long Island-based consulting firm to local governments.
"Harrisburg is the tip of the iceberg."
And a mighty iceberg it is.
The 2012 State of the States report, released in November by Harvard's Institute of Politics, the University of Pennsylvania's Fels Institute of Government and the American Education Foundation, found state and local governments are carrying more than $7 trillion in debt, an amount equal to nearly half the federal debt.
Often, the report said, "States do not account to citizens in ways that are transparent, timely or accessible."
"People With Financial Assets Are All Doomed"
Marc Faber: "People With Financial Assets Are All Doomed" | Zero Hedge
Marc Faber: "People With Financial Assets Are All Doomed"
Submitted by Tyler Durden on 06/01/2013 18:18 -0400
As Barron's notes in this recent interview, Marc Faber view the world with a skeptical eye, and never hesitates to speak his mind when things don't look quite right. In other words, he would be the first in a crowd to tell you the emperor has no clothes, and has done so early, often, and aptly in the case of numerous investment bubbles. With even the world's bankers now concerned at 'unsustainable bubbles', it is therefore unsurprising that in the discussion below, Faber explains, among other things, the fallacy of the Fed's help "the problem is the money doesn't flow into the system evenly, how with money-printing "the majority loses, and the minority wins," and how, thanks to the further misallocation of capital, "people with assets are all doomed, because prices are grossly inflated globally for stocks and bonds." Faber says he buys gold every month, adding that "I want to have some assets that aren't in the banking system. When the asset bubble bursts, financial assets will be particularly vulnerable."
On the error of the Fed's ways:
The Fed has been flooding the system with money. The problem is the money doesn't flow into the system evenly. It doesn't increase economic activity and asset prices in concert. Instead, it creates dangerous excesses in countries and asset classes. Money-printing fueled the colossal stock-market bubble of 1999-2000, when the Nasdaq more than doubled, becoming disconnected from economic reality. It fueled the housing bubble, which burst in 2008, and the commodities bubble. Now money is flowing into the high-end asset market - things like stocks, bonds, art, wine, jewelry, and luxury real estate.
Money-printing boosts the economy of the people closest to the money flow. But it doesn't help the worker in Detroit, or the vast majority of the middle class. It leads to a widening wealth gap. The majority loses, and the minority wins.
...
The neo-Keynesians would argue that if the Fed hadn't flooded the system with money, things would have been much worse. That might be true, but they would have been worse for a shorter period of time.
On the Bubble:
I am suggesting that in the fourth year of an economic expansion, near-zero interest rates will lead to a further misallocation of capital. I thought the U.S. market would have a 20% correction last fall, but it didn't happen. I also said the market might explode to the upside before the correction occurred. We might be in the final acceleration phase now. The Standard & Poor's 500 is at 1650. It could rally to 1750 or even 2000 in the next month or two before collapsing. People with assets are all doomed, because prices are grossly inflated globally for stocks, bonds, and collectibles.
On China:
There has been a huge credit bubble in China, and it isn't going to end well. Its economy officially grew 7.7% in the first quarter. In reality, it is growing 4% a year, at best. Figures on Chinese exports to Taiwan, South Korea, Hong Kong, and Singapore don't agree with the import figures of those countries. In each case, reported exports are much larger than reported imports.
On wealth divides and Social Unrest:
Again, the economy of the rich is booming. There has been huge wealth accumulation in Asia in recent years. But the middle class has experienced diminishing purchasing power. Throughout history, growing wealth inequality has been corrected either peacefully, through taxation and wealth redistribution, or by revolution, as in Russia. I am not sure we will have a revolution in the Western world, but I can see European voters turning against the arrogance of the bureaucracy.
On Europe:
Investors don't fully comprehend what happened in Cyprus. In the event of future bailouts, bank depositors will lose a percentage of their money. Money in the bank isn't 100% safe anymore.
On Gold:
Gold is down 30% from its 2011 peak of $1,921, but has far outperformed financial assets since 1999. A correction was overdue. I have about a 25% allocation to gold and buy some every month. I want to have some assets that aren't in the banking system. When the asset bubble bursts, financial assets will be particularly vulnerable.
Gold is easier to carry than a Lamborghini.
Most of my gold is in a safe-deposit box in Switzerland, but I am shifting it to Asia.
As Barron's notes in this recent interview, Marc Faber view the world with a skeptical eye, and never hesitates to speak his mind when things don't look quite right. In other words, he would be the first in a crowd to tell you the emperor has no clothes, and has done so early, often, and aptly in the case of numerous investment bubbles. With even the world's bankers now concerned at 'unsustainable bubbles', it is therefore unsurprising that in the discussion below, Faber explains, among other things, the fallacy of the Fed's help "the problem is the money doesn't flow into the system evenly, how with money-printing "the majority loses, and the minority wins," and how, thanks to the further misallocation of capital, "people with assets are all doomed, because prices are grossly inflated globally for stocks and bonds." Faber says he buys gold every month, adding that "I want to have some assets that aren't in the banking system. When the asset bubble bursts, financial assets will be particularly vulnerable."
On the error of the Fed's ways:
The Fed has been flooding the system with money. The problem is the money doesn't flow into the system evenly. It doesn't increase economic activity and asset prices in concert. Instead, it creates dangerous excesses in countries and asset classes. Money-printing fueled the colossal stock-market bubble of 1999-2000, when the Nasdaq more than doubled, becoming disconnected from economic reality. It fueled the housing bubble, which burst in 2008, and the commodities bubble. Now money is flowing into the high-end asset market - things like stocks, bonds, art, wine, jewelry, and luxury real estate.Money-printing boosts the economy of the people closest to the money flow. But it doesn't help the worker in Detroit, or the vast majority of the middle class. It leads to a widening wealth gap. The majority loses, and the minority wins....The neo-Keynesians would argue that if the Fed hadn't flooded the system with money, things would have been much worse. That might be true, but they would have been worse for a shorter period of time.
On the Bubble:
I am suggesting that in the fourth year of an economic expansion, near-zero interest rates will lead to a further misallocation of capital. I thought the U.S. market would have a 20% correction last fall, but it didn't happen. I also said the market might explode to the upside before the correction occurred. We might be in the final acceleration phase now. The Standard & Poor's 500 is at 1650. It could rally to 1750 or even 2000 in the next month or two before collapsing. People with assets are all doomed, because prices are grossly inflated globally for stocks, bonds, and collectibles.
On China:
There has been a huge credit bubble in China, and it isn't going to end well. Its economy officially grew 7.7% in the first quarter. In reality, it is growing 4% a year, at best. Figures on Chinese exports to Taiwan, South Korea, Hong Kong, and Singapore don't agree with the import figures of those countries. In each case, reported exports are much larger than reported imports.
On wealth divides and Social Unrest:
Again, the economy of the rich is booming. There has been huge wealth accumulation in Asia in recent years. But the middle class has experienced diminishing purchasing power. Throughout history, growing wealth inequality has been corrected either peacefully, through taxation and wealth redistribution, or by revolution, as in Russia. I am not sure we will have a revolution in the Western world, but I can see European voters turning against the arrogance of the bureaucracy.
On Europe:
Investors don't fully comprehend what happened in Cyprus. In the event of future bailouts, bank depositors will lose a percentage of their money. Money in the bank isn't 100% safe anymore.
On Gold:
Gold is down 30% from its 2011 peak of $1,921, but has far outperformed financial assets since 1999. A correction was overdue. I have about a 25% allocation to gold and buy some every month. I want to have some assets that aren't in the banking system. When the asset bubble bursts, financial assets will be particularly vulnerable.Gold is easier to carry than a Lamborghini.Most of my gold is in a safe-deposit box in Switzerland, but I am shifting it to Asia.
Michigan bill would allow Vietnam vets to get diplomas
Michigan bill would allow Vietnam vets to get diplomas | Detroit Free Press | freep.com:
"The bill would allow high school boards to award diplomas to Vietnam veterans aged 65 and older.
Michigan law already allows World War II and Korean War veterans to get diplomas."
"The bill would allow high school boards to award diplomas to Vietnam veterans aged 65 and older.
Michigan law already allows World War II and Korean War veterans to get diplomas."
Some felons could get records erased under bill heading to Michigan House
Some felons could get records erased under bill heading to Michigan House | Detroit Free Press | freep.com:
"The bill would allow an ex-offender of any age to be eligible for an expungment if they have up to two misdemeanors and one felony, as long as the crimes were nonviolent.
They wouldn’t become eligible to apply for an expungement until five years after they finished their parole or probation.
And the judge in the case would still have discretion over whether to grant the request."
"The bill would allow an ex-offender of any age to be eligible for an expungment if they have up to two misdemeanors and one felony, as long as the crimes were nonviolent.
They wouldn’t become eligible to apply for an expungement until five years after they finished their parole or probation.
And the judge in the case would still have discretion over whether to grant the request."
In Michigan, a stagnant achievement gap
In Michigan, a stagnant achievement gap | Detroit Free Press | freep.com:
"The percentage point gap between African-American (17%) and white (47%) students in Michigan public schools who were proficient in the MEAP’s math test last year was 30."
Forget "the gap".
47% of white students in Michigan are proficient in math?!!!!!
And that's the "good" news?
But they all know "teachers are underpaid" and "the rich don't pay their fair share".
Gimme a break.......
"The percentage point gap between African-American (17%) and white (47%) students in Michigan public schools who were proficient in the MEAP’s math test last year was 30."
Forget "the gap".
47% of white students in Michigan are proficient in math?!!!!!
And that's the "good" news?
But they all know "teachers are underpaid" and "the rich don't pay their fair share".
Gimme a break.......
Michigan's Rep. John Dingell will set record as longest-serving congressman
Michigan's Rep. John Dingell will set record as longest-serving congressman | Detroit Free Press | freep.com:
"John David Dingell Jr., at age 86, is in much the same spot he has been in since Dec. 13, 1955, representing a congressional district in southeast Michigan and performing all the tasks that come with it: answering constituent requests, appearing in parades and, as always, passing legislation."
"John David Dingell Jr., at age 86, is in much the same spot he has been in since Dec. 13, 1955, representing a congressional district in southeast Michigan and performing all the tasks that come with it: answering constituent requests, appearing in parades and, as always, passing legislation."
Detroit Zoo giraffe? Belle Isle? Detroit's treasure trove could be vulnerable to sale to settle debt
Detroit Zoo giraffe? Belle Isle? Detroit's treasure trove could be vulnerable to sale to settle debt | Detroit Free Press | freep.com:
"Detroit is teetering on the brink of the largest municipal bankruptcy in American history.
The city’s emergency manager, Kevyn Orr, and his team have said they want to evaluate everything owned by the city as they begin negotiations with creditors in the face of $15 billion to $17 billion in debt and future pension obligations."
"Detroit is teetering on the brink of the largest municipal bankruptcy in American history.
The city’s emergency manager, Kevyn Orr, and his team have said they want to evaluate everything owned by the city as they begin negotiations with creditors in the face of $15 billion to $17 billion in debt and future pension obligations."
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