Newsletter about the City Council meeting of January 3, 2012

This newsletter is about the Hickory City Council meeting that I attended this past week. City council meetings are held on the first and third Tuesdays of each Month in the Council Chambers of the Julian Whitener building.

At right of this page under Main Information links is an Hickory's City Website link. If you click on that link, it takes you to our city’s website, at the left of the page you will see the Agenda's and Minutes link you need to click. This will give you a choice of PDF files to upcoming and previous meetings.

You will find historic Agenda and Minutes links. Agendas show what is on the docket for the meeting of that date. The Minutes is an actual summary of the proceedings of the meeting of that date.

Here is a summary of the agenda of the 1/3/2011 meeting. There were a couple of important items that were discussed at this meeting and the details are listed further below:

Please remember that pressing Ctrl and + will magnify the text and page and pressing Ctrl and - will make the text and page smaller. This will help the readability for those with smaller screens and/or eye difficulties.

Invocation by Rev. Karla Woggon, Episcopal Church of the Ascension

Reaffirmation and Ratification of Second Readings. Votes recorded on first reading will be reaffirmed and ratified on second reading unless Council Members change their votes and so indicate on second reading.

A. Community Appearance Grant to the Hickory Elks Lodge – Non-Residential Property Located at 356 Main Avenue NW in the Amount of $5,000.00 (First Reading Vote: Unanimous)
B. Community Appearance Grant to Michael and Nora Perkett – Non-Residential Property Located at 813 Main Avenue SW in the Amount of $5,000.00 (First Reading Vote: Unanimous)
C. Budget Ordinance Amendment No. 11 (First Reading Vote: Unanimous)
D. Grant Project Ordinance No. 5 (First Reading Vote: Unanimous)
E. Grant Project Ordinance Amendment No. 6 (First Reading Vote: Unanimous)
F. Approval to Enter into an Economic Development Agreement with Punker, LLC (First Reading Vote: Unanimous)

The Hound's reason why I have put the above reaffirmation and ratification items as reported in the night's agenda is to ask where the vote is that took place at the last meeting pertaining to the Canopy/Tent structure that is to be built on Union Square. The Council voted 7-0 to vote upon to move forward on that item and now it is conveniently not included in the votes that were taken from that night. There was most definitely a vote that took place that night, as I have documented on this site. As I stated, they will place this in the Consent Agenda and there will be no discussion. B-I-N-G-O, just look below in the Consent Agenda under item B. Budget Ordinance Amendment No. 12, No 2. To appropriate $285,976 of Capital Reserve Parking Fund and budget for the construction of the Permanent Structure Canopy Project for Union Square. Credibility on display once again.


Consent Agenda:
A. Resolution of Intent for Petition of Hollar Hosiery Investments, LLC (James Clayton Neill, Manager) to Close a Portion of Highland Avenue, SE (Authorize Public Hearing on February 7, 2012)

B. Budget Ordinance Amendment No. 12
1. To transfer $44,474 of General Fund Contingency to the Unemployment Insurance line item. This transfer is necessary to cover an unexpected increase in the City of Hickory’s annual Unemployment Insurance expense to the North Carolina Employment Security Commission.

2. To appropriate $285,976 of Capital Reserve Parking Fund and budget for the construction of the Permanent Structure Canopy Project for Union Square.


The Hound doesn't need to add any more to this than has already been alluded to over the past two weeks. If you haven't read it, I have provided the links below sequentially.

Newsletter about the City Council meeting of December 20, 2011 -- Addendum on Union Square's largest Awning yet - $285,000 - 12/21/2011
Newsletter about the City Council meeting of December 20, 2011 - 12/22/2011
Subterfuge and Obfuscation by Hickory's Insiders -- Silence DoGood - 12/27/2011
No Public Hearing for the Big Tent on Union Square - 1/2/2012


C. Capital Project Ordinance No. 1
1. To accept a $285,976 appropriation of Capital Reserve Parking Fund Balance and budget for the Construction of the Permanent Structure Canopy Project for Union Square.

Departmental Reports:
1. Report on City Council Visit to Chattanooga, Tennessee - Assistant City Manager Andrea Surratt gave the presentation. and was introduced by City Manager Mick Berry who said that 4 City Council members attended a series of conversations, visits, and tours.Ms. Surratt stated that they were visiting areas that had planned well for their downtowns, redevelopment areas, and manufacturing areas that have experienced decline.

Chattanooga has a professional full time Mayor and the Head of the County Government. They talked about branding, vacant buildings, and wayfinding. They met with a lady named Missy Crutchfield who is the administrator of the administration arts and culture department.This is a Mayor appointed position that is equivalent to the Arts Council, the DDA, and some of the education groups (Champions of Education) all lumped into one function under her direction. They have transformed Chattanooga from being one of the most dirty cities in the U.S. to being one of the greenest cities in the U.S.

They went to an area called North Shore - The Chattanooga Riverfront Story - The Tennessee Aquarium. She talked about the Walnut Street Pedestrian Bridge. There is a lot of mixed use there. She talked about the LED lighting there. They visited the Chattanooga  Business Development Center, which is a partnership between Chattanooga and Hamilton County. This is an incubator, which is a former manufacturing facility which is subdivided into units with central access to business needs.

Ms. Surratt talked about the multiple farmer's markets in Chattanooga and the group called Gaining Ground - (Facebook Page). She next showed a local youth hostile. She showed redeveloped areas along tyhe water front and the local aquarium. "They have a good presence about their public spaces." The last stop was the Volkswagen facility that incorporated a lot of open spaces.

Alderman Lail talked about the similarities of the MSAs of Chattanooga and Hickory. They have about the same size, but while Chattanooga's population is more centrally located around the city of Chattanooga, our population is more dispersed throughout the MSA. 150,000 people live in the City of Chattanooga, while only 40,000 people live in the City of Hickory. Alder Patton talked about the presence of corporate offices in downtown Chattanooga that made a huge difference in their downtown. They have a tremendous amount of private money available. When they want something done, they just put it out there and people jump on it. People step in and get things done to move things forward.

Alderman Lail talked about the major benefactor, the Lyndhurst family. Alder Patton talked about how there was art everywhere they went. Alderman Lail talked about what impressed him was the space that connected business owners with entrepreneurs. The Company Lab - (Facebook) connects idea people with artists. He said this space was full of energy. manager Berry spoke of a DVD that is available called Chattanooga's heroic drive and he passed it to other council members.

Alderman Lail asked Manager Berry to speak to how this is part of our process. Manager Berry spoke about how this was a different approach to the city's annual retreat. They have been to Roanoke, Burlington, Chattanooga and are looking to next go to Asheville and Greenville, SC. They will set out goals early in the Spring.

The Hound is glad that Hickory officials learned something from a city that is apparently making progress, because they aren't afraid to try some new things. Notice how they talked about a couple of specific Business Incubation Initiatives. Remember how Mayor Wright spoke out against such initiatives back in the Summer, because they compete against existing business.

I think it is great how this Council has great back and forth dialogue and brings more color to presentations and conversations when the Mayor isn't present. Maybe this isn't the Mayor's fault, but every time a Mayor Pro-Tem presides over a City Council meeting, the Council sure does perk up and bring some energy into their public deliberations.

Alder Patton stated, with some of the art, that a Chattanooga representative said that some people (1/3) are just deadset against anything, 1/3 love it, and another 1/3 take a wait and see approach. I think that is the dynamic of Hickory, but I also think a lot of those "deadset against" people serve in positions of power in our city. I don't think that can be said for most of you who read the Hound. We are definitely in favor of progressive actions.

What we are against is manipulations of process that take away the citizens' ability to have any input in the decision making process. The narrow mindedness doesn't come from people wanting to participate in local governance. It comes from people who don't respect the intelligence of the local citizens to make informed decisions and some governors work harder to keep people from being able to participate than if they would allow them onto the playing field. We have too many of the local governing decision makers that want to shape decisions towards their personal desires, instead of through consensus as to what is best for the entire community.

We also need local business stakeholders to realize that they have a selfless role to play if they want to revitalize the local marketplace. Look at what they espoused about Chattanooga's businesses investing in these projects. I hope that Council learned something here and doesn't take it as, "That's nice, but we can't do that in Hickory," because we can do this exact paradigm in Hickory.

Citizens Requesting to be Heard



Larry Pope once again comes before the Council. Mr. Pope talked about the lack of respect given to a citizen of the city. He goes on to address issues involving inaccessibility to his vision impairment involving the site construction of the "Canopy Structure" on Union Square. There are several problems due to how the square has been roped off for the building of the Farmer's Market "Canopy Structure" area.

Larry also spoke about the City Administration's policy of charging 25-cents per page for copies of public information that have been requested, 10-cents is reasonable. It is unreasonable that the city should be charging that much and the only reason they are is to try to make the costs for information requests cost prohibitive. The city has stated that part of the costs is to pay for administrative workers time involved in making copies. We shouldn't be paying for city workers to do what is supposed to be part of their job. 

City Manager Berry stated that Ms. Arnita Dula (the city staff attorney) had placed the letter in the mail and he didn't know why Mr. Pope hadn't received it. He stated that he delivered a letter to the City of Hickory pertaining to the issue and was supposed to hear back within 10 days, but has not yet heard back and the deadline would have been Saturday. Mr. Pope stated that Mr. Berry should understand why he wouldn't take his word for it when the City has told so many untruths in the past. He is asked to put requests in writing, which he has others do due to his visual impairment. He talked about how the city talks about tight budgets, but has plenty of staff on hand and Mr. Berry has a new secretary in his office. He wondeers why the city can never find money to do things when it is needed, but when they want something, like the Farmer's Market building, they can find it.

Mr. Pope talked about what has gone on in the recent past and stated that it is obvious that the City (administration) is going to do what it wants to do. Why is it alright to spend money on this structure on Union Square, but it wasn't alright to spend money to fix the swimming pools in the poor and minority areas in South Hickory?

No Public Hearing for the Big Tent on Union Square

You can go look at the Agenda for City Council meeting to be held on Tuesday night January 3, 2012. The appropriations for the "Canopy Structure" has been placed in the Consent Agenda. So once again you see that our "Conspiracy Theory" once again ends up being "Conspiracy Fact." Including the appropriations at the airport, they have now designated spending on short term projects right at $500,000, with no public discussion, in the past two weeks.

It would feel good to be right if this weren't another travesty of the Democratic Process, but Hickory most definitely has the governance it deserves. I'm not going any further into this, because I would only be forced to repeat myself for the 1,000+ time. Everyone that is paying attention knows what the deal is.


B. Budget Ordinance Amendment No. 12 (Exhibit VI.B.)
1. To transfer $44,474 of General Fund Contingency to the Unemployment Insurance line item. This transfer is necessary to cover an unexpected increase in the City of Hickory’s annual Unemployment Insurance expense to the North Carolina Employment Security Commission.
2. To appropriate $285,976 of Capital Reserve Parking Fund and budget for the construction of the Permanent Structure Canopy Project for Union Square.

C. Capital Project Ordinance No. 1 (Exhibit VI.C.)
1. To accept a $285,976 appropriation of Capital Reserve Parking Fund Balance and budget for the Construction of the Permanent Structure Canopy Project for Union Square.

Economic Stories of Relevance in Today's World -- January 1, 2012

Happy New Year. Welcome to another year. Let's work hard to turn this thing around. It won't happen without action. It won't happen without effort. There are no easy answers and no knights in shining armor. The sooner everyone realizes that, the sooner we can correct the problems we face.

China, Japan to Back Direct Trade of Currencies - Bloomberg - By Toru Fujioka - December 26, 2011 - Japan and China will promote direct trading of the yen and yuan without using dollars and will encourage the development of a market for companies involved in the exchanges, the Japanese government said. Japan will also apply to buy Chinese bonds next year, allowing the investment of renminbi that leaves China during the transactions, the Japanese government said in a statement after a meeting between Prime Minister Yoshihiko Noda and Chinese Premier Wen Jiabao in Beijing yesterday. Encouraging direct yen- yuan settlement should reduce currency risks and trading costs, the Japanese and Chinese governments said.


How wealth of members of Congress has TRIPLED in 25 years - while average U.S. family has suffered a DROP in their worth - Daily Mail (UK) - David Richards - December 27, 2011 -

• Median net worth of member of Congress rose from $280,000 to $725,000 between 1984 and 2009
• Over same 25 years the wealth of the average U.S. family slipped from $20,500 from $20,600

From captains of industry to former finance executives members of Congress have always been richer than their fellow Americans. The reasons put forward for their wealth now include the high cost of entering politics in the first place as well as inheriting wealth and marrying into money. Protected from the economic ravages faced by the rest of the population the lawmakers are now edging into the '1 percenter' income group attacked by the Occupy Wall Street protesters. The anti-corporation protesters have given voice to rising concerns over banker bonuses, unemployment and distribution of wealth. The movement which began in New York in September - and marked its 100th day of protests last week - has spread to cities across the U.S. and across the world. While the rise in lawmaker's wealth might not attract controversy when times are good it starts to become an issue when times are tough....

The New York Times' report into the wealth of members of Congress found that they were also getting rich compared with affluent Americans. It found that the median net worth of members of Congress rose 15 per cent from 2004 to 2010 as the net worth of the richest 10 per cent of the country remained for the most part flat.



3.5 Million Homeless and 18.5 Million Vacant Homes in the US - Occupy America - Diane Sweet - December 30, 2011 - In the last few days, the U.S. government census figures have revealed that 1 in 2 Americans have fallen into poverty or are struggling to live on low incomes. And we know that the financial hardships faced by our neighbors, colleagues, and others in our communities will be all the more acutely felt over the holiday season.             Along with poverty and low incomes, the foreclosure rate has created its own crisis situation as the number of families removed from their homes has skyrocketed.                  Since 2007, banks have foreclosed around eight million homes. It is estimated that another eight to ten million homes will be foreclosed before the financial crisis is over. This approach to resolving one part of the financial crisis means many, many families are living without adequate and secure housing. In addition, approximately 3.5 million people in the U.S. are homeless, many of them veterans. It is worth noting that, at the same time, there are 18.5 million vacant homes in the country.                 The stark realities that persist mean that millions of families will be facing the holidays in temporary homes, or homes under threat, and far too many children will be wishing for an end to the uncertainty and distress their family is facing rather than an Xbox or Barbie doll.            
Housing is a basic human need and a fundamental human right. Yet every day in the United States, banks are foreclosing on more than 10,000 mortgages and ordering evictions of individuals and families residing in foreclosed homes. The U.S. government’s steps to address the foreclosure crisis to date have been partial at best.             The depth and severity of the foreclosure crisis is a clear illustration of the urgent need for the U.S. government to put in place a system that respects, protects and fulfills human rights, including the right to housing. This includes implementing real protections to ensure that other actors, such as financial institutions, do not undermine or abuse human rights.



Young people using 'no stigma' solution of insolvency as record numbers are hit by the crippling cost of living - Mail Online - Becky Barrow - December 30, 2011 - Young people addicted to the ‘have now, pay later’ culture, or who cannot cope with the crippling cost of living, are being plunged into insolvency in record numbers, official figures revealed yesterday.            The shocking figures, from the Government’s Insolvency Service, said more young people are taking out a new type of insolvency than any other age group.                   Since the Debt Relief Order was introduced in April 2009, one in four have been taken out by a young person between the age of 25 and 34.....           In their late twenties and early thirties, many of their parents had got married, bought a home, had children and started to build up a pension.              But their children, who are now grown-up, have no chance of getting onto the property ladder, have large debts and little chance of being able to afford to pay into a pension.               Joanna Elson, chief executive of the Money Advice Trust, the debt advisers, said: ‘Many struggling 25 to 34-year-olds might have expected to be further up the financial ladder by now.             ‘At the same age, their parents would most likely have bought their first home, have a comfortable pension lined up and be saving for the future.                  ‘For today’s 25 to 34-year-olds, the picture is much bleaker.’            She said their debt situation is made worse by the fact that many young people took out debts, hoping that pay rises in future years would mean they could easily pay them off.                   In reality, millions of workers have seen their pay either frozen since the start of the recession in 2008, or have received paltry pay rises which are far below inflation............


Foreigners Dump Record Amount Of US Treasuries In Past Month - Zero Hedge - Tyler Durden - 12/30/2011 - With year end fund flows making absolutely no sense for the most part, thank you global central planning, as the euro plunges and the market refuses to follow, with risk assets rising on speculation the ECB (and/or Fed) are about to restart printing yet gold collapsing (on one or two hedge funds liquidating, yet econ PhDs already rewriting their theses on why the "gold bubble has popped"), and finally with Treasurys soaring to near all time highs (10 Year under 1.9% yesterday even as stocks surged on data from the National Advertisers of Realtors, aka NAR, of all fraudulent and corrupt entities), here is the latest observation to make the confusion complete. As the Fed's critical H.4.1 weekly update shows (which is leaps and bounds more accurate than the Treasury's TIC international fund flow data), in the week ended December 28, foreign investors sold the second highest amount of US bonds in history, or $23 billion, bringing total UST custodial holdings to $2.67 trillion, a level first crossed to the upside back in April. This number peaked at $2.75 trillion in mid-August, and as the chart below shows the foreign holdings of US paper have been virtually flat in all of 2011, something which is in stark contrast with what the price of the 10 Year would indicate vis-a-vis investor demand. And going back further, the last week is merely the latest in a series of Custodial account outflows. In fact, in the last month (trailing 4 weeks), foreigners have sold a record $69 billion in US paper, a monthly outflow that was approached only once - in the aftermath of the US downgrade (when erroneously it is said that a surge in demand for US paper pushed rates lower - obviously as the chart shows nothing could be further from the truth)....


As '11 Ends, 11 Charts Of 11 Disturbing 11 Year Trends - Zero Hedge - Tyler Durden - 12/30/2011 - Please Go check out the charts from this submission


Annual New Year's Eve economic forecast with Karl Denninger-On the Edge with Max Keiser-12-30-2011

The Trends for 2012

We have been at this for a while now. Including the original Letters to the Editor in the local Paper, we are entering the 6th year of providing information on all levels of government and society. We have grown fairly well over this time. Sure, I wish we could grow faster and certainly this sometimes feels like a daunting task, but through persistence and perseverance, we will continue pushing forward through 2012.

What worries me is people's denial. I don't mind being labeled, but folks what good does it do you to throw out simplistic labels with no definition. People with ideas that you don't understand aren't radicals. People that will kill you, maim you, and imprison you are radicals. People with ideas that you don't agree with are people with another point of view. They might have a different perspective. They might be prescient. They might be on the cutting edge. Maybe you are the person with the problem.

When I listen to others and look at all of the inputs, I have a feeling that if you feel that 2011 was a wild ride, well you ain't seen nuthin' yet. It doesn't look like the real economy is turning around. Sure they can spin the job numbers, but the number one trend that I see involving society is that paper means nothing. Paper is not a valuable physical asset. Go write an IOU to a friend and then tear it up. Promissory notes, Deeds, and anything that must be notarized is still paper and it can easily be deemed worthless if all hell breaks loose. When the Government provides you a promise it is only as good as their word and that changes with the wind. It is the same thing when any Incorporated Entity (Including the Government) provides you with statistical data... Garbage in, Garbage out... Liars, Damned Liars, and Fools. GET OUT OF PAPER!!!

The next piece of advice that you should heed is to quit getting your information from media who do not provide in depth information. If you come to me and tell me that you heard something from a television news broadcast, then I will consider it hearsay. Most information provided on this blog is multi-sourced. Local investigative information is sometimes not, but it is either eye-witnessed or comes from reliable sources who I have been able to trust. I also separate events from opinion. You don't get that, for the most part, from electronic media. My job as an information source is to point to subjects, hopefully  pique your curiosity, point to other sources, and hope that you will inform yourself and maybe become a source point for me and this network in the future.

Why do I think that the upcoming year will be a wild ride?

1) Election in chaos - Most people are not satisfied with President Obama. His approval rating is in the low 40% range and his disapproval is in the upper 40% to over 50% range. That should mean real difficulties for him with 7+ months to the Convention and 10 months to the election, but the Republicans have no clear frontrunner and most candidates down in the 20% range. People are very dissatisfied with their choices and this dissatifaction is going to lead to anger as the economy continues to faulter.

2) The Government can't paper over the Depression anymore. In the past 3 years, we have seen the National Debt increased by $4.5 trillion from $10.6 trillion to the current $15.1 trillion and Obama is asking for an increase in the debt ceiling to $16.8 trillion. The Debt Ceiling had just been increased by $2.4 trillion on July 31, 2011. So, we have basically blown through $2.4 trillion in 5 months. That should logically tell you when you add things up that we are running a $5.76 trillion dollar deficit (12months in a year/5 months since July* $2.4 trillion), at least...  And are you feeling any improvement in the economy? A Ponzi Scheme by any other name is still a Ponzi Scheme. We are on a Parabolic Curve of Debt with no purpose. In the end it will break our currency and it will leave the economy in tatters.

3) No control over the economy - What I expressed to you above should scare the living bejesus out of you, but what is even scarier is that the government which is supposed to represent us has no control over our currency, because it has no control over the monetary supply. The Federal Reserve can manipulate the currency in any way it sees fit and The Federal Reserve is not an Entity of the United States Government. It is a Cartel that represents the handfull of megabanks that basically rule the economic world. To understand where we are today go read Ben Bernanke's speech before the National Economic Club on November 21, 2002 entitled Deflation - Making sure it doesn't happen here. We are at the mercy of a man's self-fulfilling theory. He is debasing the currency upon exactly what is expressed in this speech.

4) If you can't control the economy, then you have to control the people - If Fed Chairman Bernanke's prophecy above is fulfilled, then you are going to see a debasement of the currency along the lines of the scheme pulled by the Federal Reserve in 1933 in conjunction with Franklin Roosevelt's administration. People were made to turn in their gold. On April 5, 1933, Roosevelt signed Executive Order 6102, which ordered people to turn in their gold to the government at payment of $20.67 per ounce. Shortly after issuing his order, Roosevelt increased the price to $35 an ounce. That is a 69.3% debasement of the currency that happened in one fell swoop. We have already seen inflation take hold in commodities. Look at the increases in the price of food, precious metals, and fuel that have taken place over the last several years. You are the boiling frog. and the water is simmering. People are going to get angry and the government is going to attempt to control the dissent through their Homeland Security mechanism. They have taken advantage of the fear created after 9/11 and fostered it. They never cared about protecting the American people. They have only cared about protecting the government. Big Brother is watching over you. Does that make you feel better?

5) The World in turmoil - What happens with fuel prices if the fuse is lit with Iran. I see people everywhere saying that we should go ahead and fight Iran. What about the shaky situation with China. The United States and the mega corporations turned China into the giant it is today. Some of it was done to neutralize the power of the USSR, but much of it was done to offshore our manufacturing economy in the name of cheap labor and huge profits for the Wall Streeters. Now, China has made deals with Russia, India, and Japan to make direct economic trades without utilizing the US Dollar as a reserve currency. That does not bode well for the Dollar, but why should the Dollar be the Reserve Currency with the way it has been manipulated?

The Hound summarizes: It is hard to see from the darkness when you have your head firmly entrenched in your backside. I began the year by listening to an older gentleman waxing nostalgic about the glory days of yesteryear. How he liked the way things were and how we just need to tweak around the edges to get back to what we had. He didn't like the idea of transformation.

What this gentleman fails to realize is that we are not the transformers. What he is witnessing is evolution. We do not make the changes. We are chasing the evolution of the planet attempting to adapt in order to survive. We will either figure out a way to survive or we won't survive. It is as simple as that. So you can stand in the way of this evolutionary process, but if you fail to figure out how to ride this wave, then it is going to squash you like a bug. If you are scared, get out of the way. Do not impede the rest of us from trying to figure this thing out. 'Tis better to get in the back and ride than to drive us face first into the wave.

No Fear Baby!!! No Fear!

The top stories from the Hickory Hound in 2011

Stories Involving Hickory and the Metro Area

Governor Perdue's former assistant Morganton Attorney Juleigh Sitton indicted on Felony Campaign charges - November 28, 2011

Morganton Shenanigans - Wide Ranging & Far Reaching Implications - September 1, 2011

What is Going on at Hickory City Hall?!?!? - September 6, 2011

Do people even know? Hickory Airport Operators (River Hawk Aviation) in Bankruptcy - June 18, 2011

North Carolina Congressional Redistricting plan renders Hickory Irrelevant - July 6, 2011

Will Hickory Airport Operators be forced to liquidate -- and why is no one talking about this?!?!? - September 16, 2011

Legislative Issues/ Economic Outlook Forum - January 20, 2011 - January 23, 2011

WOW!!! - Greater Hickory Rated as the 6th Saddest Metro Area in the United States - March 17, 2011

The 4 categories of people who live in our area in relation to Politics and Power - October 10. 2011

City of Hickory takes over operations at Airport - River Hawk Aviation OUT - December 9, 2011



Stories of National and International Significance

Gadaffi's Stash - Money Laundering - U.S. MegaBanks - Business as Usual - March 7, 2011

An Economy Out of Control - February 21, 2011

The Food Crisis -- February 19, 2011 - February 19, 2011

The Impending Collapse of JP Morgan - March 5, 2011


Stories of a Non-Political Nature


Where are the UNC Board of Governors? - (Part 2) - Everybody knows "The Carolina Way" - July 1, 2011

Rick Barnes: NC State and Hickory need you to come home - March 20, 2011

My letter to the UNC Board of Governors about the UNC-CH Football Scandal - July 7, 2011

Catawba County's Bobby Lutz helping restore basketball Tradition at NC State - April 11, 2011

Subterfuge and Obfuscation by Hickory's Insiders -- Silence DoGood

I find it interesting that all of sudden there has been a flood of posts here at The Hickory Hound. Some of those posts have been quite critical of the stance and views expressed thereon. I find the timing likewise of particular interest given what transpired at the last City Council meeting and the level of derision attached to it.

Did anyone happen to notice how the level general to specific pattern of information and how quickly that matriculated in the threads of December 21st and 22nd? Did anyone notice how all of a sudden the base topic of discussion was suddenly not about how the meeting of December 20th played out and how a presentation suddenly became a budget amendment and a project adoption to spend $300k of taxpayer dollars, but about how someone had endured personal hardship while erstwhile comparing themselves and how they endured without public transportation, supporting a non-working husband for several years, and raising a family. How the owner and primary author of this blog site was chastised for not being involved in committees and boards. How Thom Shell has some misogynistic tendency and I have yet to understand where or how that comment interceded itself in that entire exchange. How money for a pool for poor people was a waste of funds and according to the poster, would only be utilized by a “couple dozen” kids. Then argues the placement of the Farmer’s Market was strategic to serve those same people. Then this same writer goes on to talk about specific budget appropriations for something as archaic as sidewalks. How would Anonymous know that? How would Anonymous know what Fund that money is appropriated in to, out of, and how it is broken out to specific communities, since in a standard line item budget, it isn’t appropriated in that manner, but in lines under generalized headings. To learn of specific spending projects, one would have to read the Manager’s budget message to council. How would Anonymous know that the vendors participate in a survey to determine quantity and type of vendor to be allowed into the Market itself. Did anyone else notice? Was anyone else as confused by this diatribe as I was?

Well you know I don’t mind criticism. I don’t mind being wrong, if in fact I am proven wrong; I just don’t like being wrong. I don’t even mind opposing points of view, since a singular perspective is one dimensional. I find it odd that Thom and others are told how patently wrong they are by an Anonymous person on a completely unsupported basis. I find it odd that Anonymous must make this about them and interject self into the debate with no relevance whatsoever. I find it peculiar that Anonymous uses the present location of the Farmer’s Market to foment the opinion that it is accessible to the people who need the foods and services being sold and then, argues that building a pool for a couple of dozen kids is a waste of money a few blocks to the south. It would likewise seem that, according to Anonymous, the majority of citizens are opposed to public transportation as well. Really. According to whom? What poll or survey are you quoting to substantiate that premise?

I’ve shopped at the Farmer’s Market and enjoyed the experience. Most of the actual farmers share in the same kinds and types of fruits and vegetables. But I’ve also made other observations. While fresh flowers is certainly farming of sorts, I’m curious as to who, in that target market Anonymous speaks of, buys fresh cut flowers? Or little do-dads and gee-gaws and what agricultural process it is that produces said do-dads and gee-gaws, particularly those of the porcelain and glass variety. I’ve also wondered how many of those vendors take or accept EBT cards. Since more and more people are out of work these days and are forced to rely on alternative means for the basics of subsistence, like food, how many of those vendors accept that type of payment, since all of the ones I’ve dealt with only accept cash. Too, there is the paradox of cost. Do you pay 2 bucks a pound for fresh tomatoes or do you buy two 15 ounce cans of tomatoes on sale at a Grocery Store for much less?

No, it isn’t about allowing those folks spoken of by Anonymous access. One has but to canvass the parking lot on Wednesday afternoon and Saturday morning to gain a sense of who is utilizing the Farmer’s Market and in what areas their domicile is located. I likewise understand that in political parlance, it is very often popular to say one thing, all the while intending something else. Ala, Farmer’s Market downtown. Limited space, access, and parking coupled with absolute control of the vendors and the wares. Any expense of which is offset by the taxpayers. Who is this a good deal for again? If you’re one of the selected vendors, it’s not a bad deal. If you’re one of those who frequent the market during growing and harvest season in pursuit of those things organic and home grown, it’s not a bad deal. But if you’re poor, then your options are typically to get the most you can with the amount of money you have. That means lots of starchy foods, prepared and processed foods, and sugary foods. I’ve not seen that stuff being hawked by the ‘Twinkie’ vendor at the Farmer’s Market.

I was really going to lay it on hard over the comments made by Anonymous across Wednesday and Thursday of last week. But in reality, it’s not altruistic to condescend pathetic. I think that those that read here on a regular basis know the questions being posed are insightful and relevant. I think the viability of those questions stand as testament to the duplicity with which Anonymous wrote in her series of posts. I guess I should add that there is no way of my knowing the same person posted them across the two days, although given the logic of the argument, that is certainly a reasonable conclusion.

In the final analysis, let us not lose sight of what it is being called into question. The way that the sitting council can spend money carte blanche without public hearing, insight, or giving anyone an opportunity to speak, pro or con, on an issue prior to adoption or action on that matter. The fact that the Mayor may and often does, in his/her capacity, make their own motions, only to be seconded by another board member and then rubber stamp voted into action. The fact that this council chooses to hide behind the rules when it suits the opinions held by them and ignore them on the same premise.

No Anonymous, it’s not about a pool, or a Farmer’s Market, per se. It’s about procedure, it’s about compliance with State law, and it’s about doing what’s right. Realizing that what’s right isn’t about what’s right only for the majority, or the well-connected and affluent.

Economic Stories of Relevance in Today's World -- December 25, 2011

The Economic Lessons of Bethlehem - Lew Rockwell.com - Llewellyn H. Rockwell, Jr. - December 24, 2011 - At the heart of the Christmas story rests some important lessons concerning free enterprise, government, and the role of wealth in society.

Let's begin with one of the most famous phrases: "There's no room at the inn." This phrase is often invoked as if it were a cruel and heartless dismissal of the tired travelers Joseph and Mary. Many renditions of the story conjure up images of the couple going from inn to inn only to have the owner barking at them to go away and slamming the door.

In fact, the inns were full to overflowing in the entire Holy Land because of the Roman emperor's decree that everyone be counted and taxed. Inns are private businesses, and customers are their lifeblood. There would have been no reason to turn away this man of royal lineage and his beautiful, expecting bride.

In any case, the second chapter of St. Luke doesn't say that they were continually rejected at place after place. It tells of the charity of a single inn owner, perhaps the first person they encountered, who, after all, was a businessman. His inn was full, but he offered them what he had: the stable. There is no mention that the innkeeper charged the couple even one copper coin, though given his rights as a property owner, he certainly could have.

It's remarkable, then, to think that when the Word was made flesh with the birth of Jesus, it was through the intercessory work of a private businessman. Without his assistance, the story would have been very different indeed. People complain about the "commercialization" of Christmas, but clearly commerce was there from the beginning, playing an essential and laudable role.

And yet we don't even know the innkeeper's name. In two thousand years of celebrating Christmas, tributes today to the owner of the inn are absent. Such is the fate of the merchant throughout all history: doing well, doing good, and forgotten for his service to humanity.

Clearly, if there was a room shortage, it was an unusual event and brought about through some sort of market distortion. After all, if there had been frequent shortages of rooms in Bethlehem, entrepreneurs would have noticed that there were profits to be made by addressing this systematic problem, and built more inns.

It was because of a government decree that Mary and Joseph, and so many others like them, were traveling in the first place. They had to be uprooted for fear of the emperor's census workers and tax collectors. And consider the costs of slogging all the way "from Galilee, out of the city of Nazareth, into Judea, unto the city of David," not to speak of the opportunity costs Joseph endured having to leave his own business. Thus we have another lesson: government's use of coercive dictates distort the market.

Moving on in the story, we come to Three Kings, also called Wise Men. Talk about a historical anomaly for both to go together! Most Kings behaved like the Roman Emperor's local enforcer, Herod. Not only did he order people to leave their homes and foot the bill for travel so that they could be taxed. Herod was also a liar: he told the Wise Men that he wanted to find Jesus so that he could "come and adore Him." In fact, Herod wanted to kill Him. Hence, another lesson: you can't trust a political hack to tell the truth.

Once having found the Holy Family, what gifts did the Wise Men bring? Not soup and sandwiches, but "gold, frankincense, and myrrh." These were the most rare items obtainable in that world in those times, and they must have commanded a very high market price.

Far from rejecting them as extravagant, the Holy Family accepted them as gifts worthy of the Divine Messiah. Neither is there a record that suggests that the Holy Family paid any capital gains tax on them, though such gifts vastly increased their net wealth. Hence, another lesson: there is nothing immoral about wealth; wealth is something to be valued, owned privately, given and exchanged.

When the Wise Men and the Holy Family got word of Herod's plans to kill the newborn Son of God, did they submit? Not at all. The Wise Men, being wise, snubbed Herod and "went back another way" – taking their lives in their hands (Herod conducted a furious search for them later). As for Mary and Joseph, an angel advised Joseph to "take the child and his mother, and fly into Egypt." In short, they resisted. Lesson number four: the angels are on the side of those who resist government.

In the Gospel narratives, the role of private enterprise, and the evil of government power, only begin there. Jesus used commercial examples in his parables (e.g., laborers in the vineyard, the parable of the talents) and made it clear that he had come to save even such reviled sinners as tax collectors.

And just as His birth was facilitated by the owner of an "inn," the same Greek word "kataluma" is employed to describe the location of the Last Supper before Jesus was crucified by the government. Thus, private enterprise was there from birth, through life, and to death, providing a refuge of safety and productivity, just as it has in ours. - December 22, 2001


The speculative scrum driving up food prices - Bankers, hedge funds and sovereign wealth funds are gambling on hunger by speculating on food supply - Global regulators should step in to stop them -   The Guardian - Frederick Kaufman - December 20, 2011 -  Last year, the price of global food floated high as ever. That's bad news for most of us, but not for those who trade commodities. In fact, 2011 was a great year for the traders, who thrive on bad news, currency woes, drought, flood, freeze, fire and all other manifestations of imminent apocalypse.                 2011 was a wild ride. One spring morning, cocoa futures dropped 12% in less than a minute. Corn ascended to all-time peaks and sugar fluctuated more in one day than it used to in a month. Howard Schultz, CEO of Starbucks, railed against speculators in coffee, while PepsiCo forecast its own medium-term commodity cost increases to exceed $1bn. All of which meant a bumper crop for the world's commodity exchanges – even those that used to be backwaters, like the Kansas City Board of Trade and the Minneapolis Grain Exchange, both of which recorded their highest electronic trading volumes in history.                    It was a volatile year, and the volatility posed problems for the food industry. Faced with a high-stakes game of price-shifting basic ingredients, the world's largest food processors and retailers put out the call for maths PhDs and economic modellers to theorise and implement ever-more complex risk-management strategies just so they could keep up with the second-by-second spikes and dips of grain and livestock futures. In the meantime, high-frequency traders and momentum-driven hedge funds made it their business to speculate on food.....


Fed’s Once-Secret Data Compiled by Bloomberg Released to Public - Bloomberg - Phil Kuntz and Bob Ivry - Dec 22, 2011 - Bloomberg News today released spreadsheets showing daily borrowing totals for 407 banks and companies that tapped Federal Reserve emergency programs during the 2007 to 2009 financial crisis. It’s the first time such data have been publicly available in this form.
To download a zip file of the spreadsheets, go to http://bit.ly/Bloomberg-Fed-Data. For an explanation of the files, see the one labeled “1a Fed Data Roadmap.”           The day-by-day, bank-by-bank numbers, culled from about 50,000 transactions the U.S. central bank made through seven facilities, formed the basis of a series of Bloomberg News articles this year about the largest financial bailout in history.
“Scholars can now examine the data and continue the analysis of the Fed’s crisis management,” said Allan H. Meltzer, a professor of political economy at Carnegie Mellon University in Pittsburgh and the author of three books on the history of the U.S. central bank.                           The data reflect lending from the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, the Primary Dealer Credit Facility, the Term Auction Facility, the Term Securities Lending Facility, the discount window and single-tranche open market operations, or ST OMO.
Bloomberg News obtained information about the discount window and ST OMO through the Freedom of Information Act. While the Fed initially rejected a request for discount-window information, Bloomberg LP, the parent company of Bloomberg News, filed a federal lawsuit to force disclosure and won in the lower courts. In March, the U.S. Supreme Court decided not to intervene in the case, and the Fed released more than 29,000 pages of transaction data.....



A $4 MILLION vacation: Separate flights, luxury hotels and plenty of golf... the price of Obama’s annual Hawaiian holiday soars - Mike O'brien and Mark Duell - December 19, 2011 -

• Obama's Air Force One flight estimated at $3,271,611
• Total travel costs for Hawaii holiday are $3,629,622
• Housing comes to $151,200 and hotels at $72,216
• Hawaii Reporter estimates total cost at $4,113,038

Barack Obama’s annual vacation in Hawaii this year is likely to be his most expensive ever - and the majority of it is being funded by the taxpayer.                    The President will travel separately to his family this time because he wants resolve the payroll tax cut issue before leaving Washington D.C.
First Lady Michelle took their children this weekend in a flight that cost an extra $100,000 - and her husband’s round-trip journey will be $3,271,611.                      

Read more: http://www.dailymail.co.uk/news/article-2075958/Obamas-annual-holiday-Hawaii-costs-4m.html#ixzz1hbji2Gfn

Courtesy of Zero Hedge:
VIDEO President Ronald Reagan's Christmas Address,12/23/1981)




Obama Signs NDAA Martial Law - December 17, 2011: