I've been paying some attention to what is going on with this Sequester thing and I think the politics surrounding it are totally ridiculous. Both political parties are embarrassing. You have the Democrats who haven't put forward a budget since Obama has been in office and yet they have nearly doubled the National Debt in five years and they have ZERO plan to move forward. You have the Republicans who can only talk about making trivial cuts to Federal Spending and they want to continue the status quo policies that are bankrupting the middle class and only helping the richest of the rich.
Let me tell you where this is heading. There is no room for people. There aren't going to be many, if any, jobs. With the lack of supply of jobs and the heavy demand for jobs, you are going to get lowballed on income and benefits. You are going to have a heavily skewed distribution of income. There will be equity in poverty for 90%+ of the U.S. populace and then we are going to have a noble overlord class that is going to use technology to keep us in line until we die peacefully or murder us if we rise up. You haven't learned over the past decade that you don't have any rights? You haven't learned that in a Godless system that you have no inalienable rights? That the only rights you have are bequeathed to you by the perverted government?
These little piddly cuts in governmental spending are only structured for the "on book" system. Everything that is done "off book" is going to keep moving forward. The robotics that monitor us to provide "Security," who is that "Security" for? And the middle class, who can't afford the lawyers, accountants, and corporate structure are the ones who have paid to build their own prison and the system of their own demise.
Everything is in place. There is going to be pain and there is no way out. Economically, things are going to happen moving forward that will finally make you understand this implosion. There is a consolidation taking place and there is no room for YOU. YOU and I are the sacrificed in the plans of the Richest of the Rich. They talk about class warfare and they are the ones, who through their greed, have instituted class warfare. It is all about Power through Control. That is not what this country was built upon, but Liberty has been frittered away.
You thought if you didn't pay attention that everything would be alright. You just wanted to be left alone and are too stupid to understand that they aren't going to leave you alone. You say you want Freedom of Choice and a Right to Privacy, but you have neither. I'd tell you to wake up, but it'll be too late when most do. It's too late now.
Peace Be with You and I'll continue to pray.
12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is Almost Here - The Economic Collapse Blog
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Tuesday, March 5, 2013
Sunday, March 3, 2013
Economic Stories of Relevance in Today's World -- March 3, 2013
U.S. incomes see largest drop in 20 years - Reuters through the Chicago Tribune - March 1, 2013 - U.S. consumer spending rose in January as Americans spent more on services, with savings providing a cushion after income recorded its biggest drop in 20 years. Income tumbled 3.6 percent, the largest drop since January 1993. Part of the decline was payback for a 2.6 percent surge in December as businesses, anxious about higher taxes, rushed to pay dividends and bonuses before the new year. A portion of the drop in January also reflected the tax hikes. The income at the disposal of households after inflation and taxes plunged a 4.0 percent in January after advancing 2.7 percent in December... With income dropping sharply and spending rising, the saving rate - the percentage of disposable income households are socking away - fell to 2.4 percent, the lowest level since November 2007. The rate had jumped to 6.4 percent in December. -
Consumer Spending in U.S. Climbs Even as Taxes Hurt Incomes - Bloomberg - Michelle Jamrisko - Mar 1, 2013 - Consumer spending in the U.S. rose in January even as incomes dropped by the most in 20 years, showing households were weathering the payroll-tax increase by socking away less money in the bank. Household purchases, which account for about 70 percent of the economy, climbed 0.2 percent after a 0.1 percent gain the prior month, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg survey of 76 economists called for a 0.2 percent advance. Incomes slumped 3.6 percent, sending the saving rate down to the lowest level since November 2007... Disposable income, or the money left over after taxes, dropped 4 percent after adjusting for inflation, the biggest plunge since monthly records began in 1959. The drop also reflected the lapse of the payroll tax holiday. Excluding the effect of the tax and other special factors such as the timing of bonuses and dividends, disposable personal income would have increased 0.3 percent in January, the same as in December, the report said. Adjusting consumer spending for inflation, which renders the figures used to calculate gross domestic product, purchases rose 0.1 percent in January for a second month, today’s report showed.
Consumer Spending Drought: 16 Signs That The Middle Class Is Running Out Of Money - The Economic Collapse Blog - Is "discretionary income" rapidly becoming a thing of the past for most American families? Right now, there are a lot of signs that we are on the verge of a nightmarish consumer spending drought. Incomes are down, taxes are up, many large retail chains are deeply struggling because of the lack of customers, and at this point nearly a quarter of all Americans have more credit card debt than money in the bank. Considering the fact that consumer spending is such a large percentage of the U.S. economy, that is very bad news. How will we ever have a sustained economic recovery if consumers don't have much money to spend? Well, the truth is that we aren't ever going to have a sustained economic recovery. In fact, this debt-fueled bubble of false hope that we are experiencing right now is as good as things are going to get. Things are going to go downhill from here, and if you think that consumer spending is bad now, just wait until you see what happens over the next several years. - See more at: http://theeconomiccollapseblog.com/archives/consumer-spending-drought-16-signs-that-the-middle-class-is-running-out-of-money#sthash.3QUShgLH.dpuf
The Missing Recovery — Paul Craig Roberts - Paul Craig Roberts - March 1, 2013 - Officially, since June 2009 the US economy has been undergoing an economic recovery from the December 2007 recession. But where is this recovery? I cannot find it, and neither can millions of unemployed Americans. The recovery exists only in the official measure of real GDP, which is deflated by an understated measure of inflation, and in the U.3 measure of the unemployment rate, which is declining because it does not count discouraged job seekers who have given up looking for a job. No other data series indicates an economic recovery. Neither real retail sales nor housing starts, consumer confidence, payroll employment, or average weekly earnings indicate economic recovery. Neither does the Federal Reserve’s monetary policy. The Fed’s expansive monetary policy of bond purchases to maintain negative real interest rates continues 3.5 years into the recovery. Of course, the reason for the Fed’s negative interest rates is not to boost the economy but to boost asset values on the books of “banks too big to fail.” The low interest rates raise the prices of the mortgage-backed derivatives and other debt-related assets on the banks’ balance sheets at the expense of interest income for retirees on their savings accounts, money market funds, and Treasury bonds. Despite recovery’s absence and the lack of job opportunities for Americans, Republicans in Congress are sponsoring bills to enlarge the number of foreigners that corporations can bring in on work visas. The large corporations claim that they cannot find enough skilled Americans. This is one of the most transparent of the constant stream of lies that we are told. Foreign hires are not additions to the work force, but replacements. The corporations force their American employees to train the foreigners, and then the American employees are discharged. Obviously, if skilled employees were in short supply, they would not be laid off. Moreover, if the skills were in short supply, salaries would be bid up, not down, and the 36% of those who graduated in 2011 with a doctorate degree in engineering would not have been left unemployed. The National Science Foundation’s report, “Doctorate Recipients From U.S. Universities,” says that only 64% of the Ph.D. engineering graduates found a pay check. As I have reported on numerous occasions for many years, neither the payroll jobs statistics nor the Bureau of Labor Statistics’ job projections show job opportunities for university graduates. But this doesn’t stop Congress from helping US corporations get rid of their American employees in exchange for campaign donations...
Tyson, Cargill among others now drugging your meat with Merck's new Zilmax - NaturalNews.com - Lance Johnson - Wednesday, February 27, 2013 - As a journalist for Chronicle of Higher Education, Melody Peterson described her visit to the meat locker at West Texas A&M University. Escorted by Ty E. Lawrence, associate professor of animal science, Peterson reported, "Bloody sides of beef, still covered with a slick layer of ivory-colored fat, hung from steel hooks. Dressed in a white lab coat, a hard hat on his head, Lawrence pointed to the carcass of a Holstein that had been fed a new drug called Zilmax. He noted its larger size compared with the nearby body of a steer never given the drug." "'This is thicker, and it's plumper,' said Lawrence, pointing at the beast's rib-eye. 'This animal right here,' waving his hand at the pharmaceutically enhanced meat, 'doesn't look like a Holstein anymore.'" Not a Holstein anymore: is that really something to be proud about? If a Holstein doesn't look like a Holstein anymore, what are we eating and what are we becoming?... - (Zilmax: New Growth Promotant For Cattle - Food Renegade) -
Written by KristenM)
Why beef is losing its flavor - Feedlots have begun giving cattle a drug that causes the animal to bulk up on muscle, losing fat in the process. - MSN Money - Kim Peterson - February 14, 2013 - If you think steaks don't taste as flavorful as they used to, you might be on to something. Feedlots have begun giving cattle a new drug with a curious side effect: It makes steaks less flavorful and juicy, Slate reports. But the drug, Zilmax, helps cattle bulk up on muscle in the last few weeks of their lives -- which brings in more money for feedlot owners. Merck Animal Health says that Zilmax doesn't cause the quality of steaks to suffer, and that people can't tell the difference between beef that has and has not been treated with the drug. Zilmax usage has really taken off since 2011. If Merck is right, you may have not noticed a thing. But if you've wondered recently why steak suddenly seems more muscular, less fatty and a bit more bland, now you have your answer.
As Beef Cattle Become Behemoths, Who Are Animal Scientists Serving? - The Chronicle of Higher Education - Melody Petersen - April 15, 2012 - ...Convincing ranchers that Zilmax will transform their cattle into bovine Schwarzeneggers has been part of Lawrence's work ever since the drug was introduced by Intervet, a subsidiary of Merck, the global pharmaceutical company. The tour he led of the carcasses in his lab was just one of many events where he has helped Intervet sell Zilmax. He's given speeches to ranchers and written an article for a beef-industry magazine to promote the drug. He's repeatedly let Intervet include his comments in news releases, including one in which he said the drug could "revolutionize the beef production system." Lawrence is hardly alone. Scores of animal scientists employed by public universities have helped pharmaceutical companies persuade farmers and ranchers to use antibiotics, hormones, and drugs like Zilmax to make their cattle grow bigger ever faster. With the use of these products, the average weight of a fattened steer sold to a packing plant is now roughly 1,300 pounds—up from 1,000 pounds in 1975. It's been a profitable venture for the drug companies, as well as for the professors and their universities. Agriculture schools increasingly depend on the industry for research grants, a sizable portion of which cover overhead and administrative costs. And many professors now add to their personal bank accounts by working for the companies as consultants and speakers. More than two-thirds of animal scientists reported in a 2005 survey that they had received money from industry in the previous five years. Yet unlike a growing number of medical schools around the country, where administrators have recently tightened rules to better police their faculty's ties to pharmaceutical companies, the schools of agriculture have largely rejected critics' concerns about industry cash. Administrators have set few limits on how much corporate money agricultural professors can accept. Faculty work with industry is governed by confidentiality rules that veil it from public view. In certain ways, the close relationship between animal scientists and pharmaceutical companies has never served the public well. Few animal scientists have been interested in looking at what harm the livestock drugs may be causing to the cattle, the environment, or the people eating the meat. They've left most of that work to scientists outside of agriculture, consumer groups, and others who take interest. But with the introduction of Zilmax, the situation may have reached a tipping point. Critics say some academic animal scientists have become so closely tied to the drug companies that they may be working more in the companies' interests than in those of farmers and ranchers—the very groups that land-grant universities were created to serve.
First Horse(meat) Trading, Now 59% Of "Tuna" Sold In The U.S. Isn’t Tuna - Zero Hedge - Tyler Durden - March 2, 2013 - This is just the latest revelation in the stealth inflation and food fraud theme I have written about frequently in recent months. The non-profit group Oceana took samples of 1,215 fish sold in the U.S. and genetic tests found that that 59% of those labeled tuna were mislabeled.
Escolar: The World's Most Dangerous Fish - Medellitin - Escolar is the most controversial fish that you are likely to find in your fish market. This firm, white fleshed fish has an incredibly rich flavor, often described as 'succulent', or a fattier version of swordfish. Why so rich? It turns out that Escolar's diet contains food high in wax esters. Wax esters that are really difficult for Escolar to digest. As a result, these esters build up in the fish. Where is the controversy in a buttery, delicious fish? I would say it is in the laxative like effect it has on a certain percentage of the population. Well, a 'laxative like effect' is how my fish monger described it. Others would describe it as closer to diahhrea. An expert would call it 'keriorrhoea'. Literally translated, it means 'flow of wax'. Oily orange droplets pouring out your pooper. Keriorrhoea occurs because the wax esters in the flesh of the fish pool up in your intestine. Some reports of Escolar related illness include cramping, nausea, diarrhea, the itis, and other abdominal pains. This could be the result of severe Keriorrhea or could also be Scrombroid poisoning. Escolar related Scromboid (or histimine poisoning) is the result of high levels of histidine being converted to histimine usually as a result of poor storage.
Consumer Spending in U.S. Climbs Even as Taxes Hurt Incomes - Bloomberg - Michelle Jamrisko - Mar 1, 2013 - Consumer spending in the U.S. rose in January even as incomes dropped by the most in 20 years, showing households were weathering the payroll-tax increase by socking away less money in the bank. Household purchases, which account for about 70 percent of the economy, climbed 0.2 percent after a 0.1 percent gain the prior month, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg survey of 76 economists called for a 0.2 percent advance. Incomes slumped 3.6 percent, sending the saving rate down to the lowest level since November 2007... Disposable income, or the money left over after taxes, dropped 4 percent after adjusting for inflation, the biggest plunge since monthly records began in 1959. The drop also reflected the lapse of the payroll tax holiday. Excluding the effect of the tax and other special factors such as the timing of bonuses and dividends, disposable personal income would have increased 0.3 percent in January, the same as in December, the report said. Adjusting consumer spending for inflation, which renders the figures used to calculate gross domestic product, purchases rose 0.1 percent in January for a second month, today’s report showed.
Consumer Spending Drought: 16 Signs That The Middle Class Is Running Out Of Money - The Economic Collapse Blog - Is "discretionary income" rapidly becoming a thing of the past for most American families? Right now, there are a lot of signs that we are on the verge of a nightmarish consumer spending drought. Incomes are down, taxes are up, many large retail chains are deeply struggling because of the lack of customers, and at this point nearly a quarter of all Americans have more credit card debt than money in the bank. Considering the fact that consumer spending is such a large percentage of the U.S. economy, that is very bad news. How will we ever have a sustained economic recovery if consumers don't have much money to spend? Well, the truth is that we aren't ever going to have a sustained economic recovery. In fact, this debt-fueled bubble of false hope that we are experiencing right now is as good as things are going to get. Things are going to go downhill from here, and if you think that consumer spending is bad now, just wait until you see what happens over the next several years. - See more at: http://theeconomiccollapseblog.com/archives/consumer-spending-drought-16-signs-that-the-middle-class-is-running-out-of-money#sthash.3QUShgLH.dpuf
The Missing Recovery — Paul Craig Roberts - Paul Craig Roberts - March 1, 2013 - Officially, since June 2009 the US economy has been undergoing an economic recovery from the December 2007 recession. But where is this recovery? I cannot find it, and neither can millions of unemployed Americans. The recovery exists only in the official measure of real GDP, which is deflated by an understated measure of inflation, and in the U.3 measure of the unemployment rate, which is declining because it does not count discouraged job seekers who have given up looking for a job. No other data series indicates an economic recovery. Neither real retail sales nor housing starts, consumer confidence, payroll employment, or average weekly earnings indicate economic recovery. Neither does the Federal Reserve’s monetary policy. The Fed’s expansive monetary policy of bond purchases to maintain negative real interest rates continues 3.5 years into the recovery. Of course, the reason for the Fed’s negative interest rates is not to boost the economy but to boost asset values on the books of “banks too big to fail.” The low interest rates raise the prices of the mortgage-backed derivatives and other debt-related assets on the banks’ balance sheets at the expense of interest income for retirees on their savings accounts, money market funds, and Treasury bonds. Despite recovery’s absence and the lack of job opportunities for Americans, Republicans in Congress are sponsoring bills to enlarge the number of foreigners that corporations can bring in on work visas. The large corporations claim that they cannot find enough skilled Americans. This is one of the most transparent of the constant stream of lies that we are told. Foreign hires are not additions to the work force, but replacements. The corporations force their American employees to train the foreigners, and then the American employees are discharged. Obviously, if skilled employees were in short supply, they would not be laid off. Moreover, if the skills were in short supply, salaries would be bid up, not down, and the 36% of those who graduated in 2011 with a doctorate degree in engineering would not have been left unemployed. The National Science Foundation’s report, “Doctorate Recipients From U.S. Universities,” says that only 64% of the Ph.D. engineering graduates found a pay check. As I have reported on numerous occasions for many years, neither the payroll jobs statistics nor the Bureau of Labor Statistics’ job projections show job opportunities for university graduates. But this doesn’t stop Congress from helping US corporations get rid of their American employees in exchange for campaign donations...
Tyson, Cargill among others now drugging your meat with Merck's new Zilmax - NaturalNews.com - Lance Johnson - Wednesday, February 27, 2013 - As a journalist for Chronicle of Higher Education, Melody Peterson described her visit to the meat locker at West Texas A&M University. Escorted by Ty E. Lawrence, associate professor of animal science, Peterson reported, "Bloody sides of beef, still covered with a slick layer of ivory-colored fat, hung from steel hooks. Dressed in a white lab coat, a hard hat on his head, Lawrence pointed to the carcass of a Holstein that had been fed a new drug called Zilmax. He noted its larger size compared with the nearby body of a steer never given the drug." "'This is thicker, and it's plumper,' said Lawrence, pointing at the beast's rib-eye. 'This animal right here,' waving his hand at the pharmaceutically enhanced meat, 'doesn't look like a Holstein anymore.'" Not a Holstein anymore: is that really something to be proud about? If a Holstein doesn't look like a Holstein anymore, what are we eating and what are we becoming?... - (Zilmax: New Growth Promotant For Cattle - Food Renegade) -
Written by KristenM)
Why beef is losing its flavor - Feedlots have begun giving cattle a drug that causes the animal to bulk up on muscle, losing fat in the process. - MSN Money - Kim Peterson - February 14, 2013 - If you think steaks don't taste as flavorful as they used to, you might be on to something. Feedlots have begun giving cattle a new drug with a curious side effect: It makes steaks less flavorful and juicy, Slate reports. But the drug, Zilmax, helps cattle bulk up on muscle in the last few weeks of their lives -- which brings in more money for feedlot owners. Merck Animal Health says that Zilmax doesn't cause the quality of steaks to suffer, and that people can't tell the difference between beef that has and has not been treated with the drug. Zilmax usage has really taken off since 2011. If Merck is right, you may have not noticed a thing. But if you've wondered recently why steak suddenly seems more muscular, less fatty and a bit more bland, now you have your answer.
As Beef Cattle Become Behemoths, Who Are Animal Scientists Serving? - The Chronicle of Higher Education - Melody Petersen - April 15, 2012 - ...Convincing ranchers that Zilmax will transform their cattle into bovine Schwarzeneggers has been part of Lawrence's work ever since the drug was introduced by Intervet, a subsidiary of Merck, the global pharmaceutical company. The tour he led of the carcasses in his lab was just one of many events where he has helped Intervet sell Zilmax. He's given speeches to ranchers and written an article for a beef-industry magazine to promote the drug. He's repeatedly let Intervet include his comments in news releases, including one in which he said the drug could "revolutionize the beef production system." Lawrence is hardly alone. Scores of animal scientists employed by public universities have helped pharmaceutical companies persuade farmers and ranchers to use antibiotics, hormones, and drugs like Zilmax to make their cattle grow bigger ever faster. With the use of these products, the average weight of a fattened steer sold to a packing plant is now roughly 1,300 pounds—up from 1,000 pounds in 1975. It's been a profitable venture for the drug companies, as well as for the professors and their universities. Agriculture schools increasingly depend on the industry for research grants, a sizable portion of which cover overhead and administrative costs. And many professors now add to their personal bank accounts by working for the companies as consultants and speakers. More than two-thirds of animal scientists reported in a 2005 survey that they had received money from industry in the previous five years. Yet unlike a growing number of medical schools around the country, where administrators have recently tightened rules to better police their faculty's ties to pharmaceutical companies, the schools of agriculture have largely rejected critics' concerns about industry cash. Administrators have set few limits on how much corporate money agricultural professors can accept. Faculty work with industry is governed by confidentiality rules that veil it from public view. In certain ways, the close relationship between animal scientists and pharmaceutical companies has never served the public well. Few animal scientists have been interested in looking at what harm the livestock drugs may be causing to the cattle, the environment, or the people eating the meat. They've left most of that work to scientists outside of agriculture, consumer groups, and others who take interest. But with the introduction of Zilmax, the situation may have reached a tipping point. Critics say some academic animal scientists have become so closely tied to the drug companies that they may be working more in the companies' interests than in those of farmers and ranchers—the very groups that land-grant universities were created to serve.
U.S.D.A. May Approve Horse Slaughtering - New York Times - STEPHANIE STROM - February 28, 2013 - The United States Department of Agriculture is likely to approve a horse slaughtering plant in New Mexico in the next two months, which would allow equine meat suitable for human consumption to be produced in the United States for the first time since 2007. The plant, in Roswell, N.M., is owned by Valley Meat Company, which sued the U.S.D.A. and its Food Safety and Inspection Service last fall over the lack of inspection services for horses going to slaughter. Horse meat cannot be processed for human consumption in the United States without inspection by the U.S.D.A., so horses destined for that purpose have been shipped to places like Mexico and Canada for slaughter. Justin DeJong, a spokesman for the agriculture department, said that “several” companies had asked the agency to re-establish inspection of horses for slaughter. “These companies must still complete necessary technical requirements and the F.S.I.S. must complete its inspector training,” he wrote in an e-mail referring to the food inspection service, “but at that point, the department will legally have no choice but to go forward with the inspections.”
He said the Obama administration was urging Congress to reinstate an effective ban on the production of horse meat for human consumption that lapsed in 2011. The impending approval comes amid growing concern among American consumers that horse meat will somehow make its way into ground beef products in the United States as it has done in Europe. Major companies, including Tesco, Nestlé and Ikea, have had to pull food from shelves in 14 countries after tests showed that products labeled 100 percent beef actually contained small amounts of horse meat. Horse meat is not necessarily unsafe, and in some countries, it is popular. But some opponents of horse slaughtering say consumption of horse meat is ill-advised because of the use of various kinds of drugs in horses...
First Horse(meat) Trading, Now 59% Of "Tuna" Sold In The U.S. Isn’t Tuna - Zero Hedge - Tyler Durden - March 2, 2013 - This is just the latest revelation in the stealth inflation and food fraud theme I have written about frequently in recent months. The non-profit group Oceana took samples of 1,215 fish sold in the U.S. and genetic tests found that that 59% of those labeled tuna were mislabeled.
Escolar: The World's Most Dangerous Fish - Medellitin - Escolar is the most controversial fish that you are likely to find in your fish market. This firm, white fleshed fish has an incredibly rich flavor, often described as 'succulent', or a fattier version of swordfish. Why so rich? It turns out that Escolar's diet contains food high in wax esters. Wax esters that are really difficult for Escolar to digest. As a result, these esters build up in the fish. Where is the controversy in a buttery, delicious fish? I would say it is in the laxative like effect it has on a certain percentage of the population. Well, a 'laxative like effect' is how my fish monger described it. Others would describe it as closer to diahhrea. An expert would call it 'keriorrhoea'. Literally translated, it means 'flow of wax'. Oily orange droplets pouring out your pooper. Keriorrhoea occurs because the wax esters in the flesh of the fish pool up in your intestine. Some reports of Escolar related illness include cramping, nausea, diarrhea, the itis, and other abdominal pains. This could be the result of severe Keriorrhea or could also be Scrombroid poisoning. Escolar related Scromboid (or histimine poisoning) is the result of high levels of histidine being converted to histimine usually as a result of poor storage.
J.C. Penney shares fall after sales plunge - Reuters - February 28, 2013
A Truly Depressing Visit to a JCPenney Store - Slate - March 1, 2013
Sears Slows, but Does Not Reverse, Its 6-Year Descent - AP through New York Times - February 28, 2013
Best Buy Earnings, Revenue Top Estimates - CNBC - March 1, 2013
Best Buy, Sears failing to compete with online market, incoming U.S. chains: Analyst
- CTV - February 1, 2013
A Truly Depressing Visit to a JCPenney Store - Slate - March 1, 2013
Sears Slows, but Does Not Reverse, Its 6-Year Descent - AP through New York Times - February 28, 2013
Best Buy Earnings, Revenue Top Estimates - CNBC - March 1, 2013
Best Buy, Sears failing to compete with online market, incoming U.S. chains: Analyst
- CTV - February 1, 2013
Shocking Statistics: America's Income Gap
Saturday, March 2, 2013
The Distribution of Wealth and Income in America
Maybe some of you saw the information come out this week that Americans saw their personal income fall by the steepest rate in 20 years (Reuters through the Chicago Tribune).
And yet the stats show that Consumer Spending was up, which means that people are going further into debt to make purchases. We see retailers such as JC Penney, Sears, and Best Buy struggling and continuing declines that have been going on for years now.
J.C. Penney shares fall after sales plunge - Reuters - February 28, 2013
A Truly Depressing Visit to a JCPenney Store - Slate - March 1, 2013
Sears Slows, but Does Not Reverse, Its 6-Year Descent - AP through New York Times - February 28, 2013
Best Buy Earnings, Revenue Top Estimates - CNBC - March 1, 2013
Best Buy, Sears failing to compete with online market, incoming U.S. chains: Analyst
- CTV - February 1, 2013
We know that the major issues that these companies face are caused by the hurting American middle class and their reduction in wealth and disposable income. These are just three companies that have been negatively effected by the Economic Depression that is now in its sixth year. What happens when these major retailers close down stores in the malls of mid sized communities. This will continue the downward spiral that continues to feed off of itself.
Below is an excellent video that shows the problems with income distribution in the United States. This is what has killed the American Retail Marketplace. We aren't going to see consumption growth as we did in the late 1990s for generations, but we can at least get balance back into the system by promoting policies that promote, restore, and protect the middle class. Until we begin those processes, the economy will only worsen.
And yet the stats show that Consumer Spending was up, which means that people are going further into debt to make purchases. We see retailers such as JC Penney, Sears, and Best Buy struggling and continuing declines that have been going on for years now.
J.C. Penney shares fall after sales plunge - Reuters - February 28, 2013
A Truly Depressing Visit to a JCPenney Store - Slate - March 1, 2013
Sears Slows, but Does Not Reverse, Its 6-Year Descent - AP through New York Times - February 28, 2013
Best Buy Earnings, Revenue Top Estimates - CNBC - March 1, 2013
Best Buy, Sears failing to compete with online market, incoming U.S. chains: Analyst
- CTV - February 1, 2013
We know that the major issues that these companies face are caused by the hurting American middle class and their reduction in wealth and disposable income. These are just three companies that have been negatively effected by the Economic Depression that is now in its sixth year. What happens when these major retailers close down stores in the malls of mid sized communities. This will continue the downward spiral that continues to feed off of itself.
Below is an excellent video that shows the problems with income distribution in the United States. This is what has killed the American Retail Marketplace. We aren't going to see consumption growth as we did in the late 1990s for generations, but we can at least get balance back into the system by promoting policies that promote, restore, and protect the middle class. Until we begin those processes, the economy will only worsen.
Shocking Statistics: America's Income Gap
Wednesday, February 27, 2013
FEC Meeting (2/20/2013) and Chamber Annual Event (2/27/2013) - Catawba County Economic Competitiveness Plan
Future Economy Council Meeting - February 20, 2013
The following is the Catawba County Future Economy Council's monthly meeting for February 2013. The discussion relates to the Chamber of Commerce, local Government, and local Business's strategic Economic Competitiveness plan that has been developed over the past year in conjunction with Ted Abernathy of the Southern Growth Policies Board.
Catawba County Chamber of Commerce's Annual Meeting
The following is the presentation of the Economic Competitiveness plan that has been developed over the past year in conjunction with Ted Abernathy of the Southern Growth Policies Board. The plan should be completed in the next couple of months. This discussion involves the dynamics of the local economy. How we got to where we are and what we need to do to move forward.
Tuesday, February 26, 2013
Newsletter about the City Council meeting of February 19, 2013
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 2/5/2012 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.
City Website has changed - Here is a link to the City of Hickory Document Center
All materials and maps for this meeting are provide at this link:
Hickory City Council Agenda - February 19, 2013 (25MB)
Invocation by Alderman Danny Seaver (:40)
(2:30) - Mayor Wright made a motion to allow Citizens to address the Council. A couple of couples, (David and Martha Branding) and Tanya and David Mikiel? wanted to address an item on the Consent Agenda Item A, Speed Limit Ordinance for 14th Avenue NW/14th Avenue Drive NW to be 25 mph Along the Entire Stretch of the Roadway.
Special Presentations (9:40)
A. Presentation By Community Groups Requesting Appropriations from the City Council. During the Next Fiscal Year Beginning July 1, 2013. The Council will not take action tonight. Action will be taken when the Council considers the City’s annual budget in May or June. These presentations are made so Council Members can ask questions or make comments about the requests. Presenters will be allotted no more than five (5) minutes to make their presentations to Council.
Organization - Presentation By - Amount Requested
(1 - 10:10) Catawba County Economic Development Corporation - Scott Millar - $141,339
(1 - 17:10) SALT Block Foundation Mark Sinclair $100,000 -
(1 - 21:15) The Woman’s Club Sandy Jahn - $75,000
(1 - 24:50) Hickory Downtown Development Association - Connie Kincaid - $50,000
(1 - 30:45) United Arts Council of Catawba County - Jamie Treadaway - $40,010
(1 - 35:10) Hickory Metro Convention and Visitors Bureau - Bebe Leitch - $20,000
(1 - 41:50) Habitat for Humanity - Mitzi Gellman - $7,816
(1 - 42:50)Women’s Resource Center - Cindy Rose - $5,000
B. (1 - 49:20) Business Well Crafted Presentation Award - Hickory Sheet Metal has been located in Hickory since 1928. The award was presented from Ryan Lovern of the Business Development Committee to Dolan and Lanny Huffman. They have worked on many projects throughout the community with over 100 years of experience.
Consent Agenda: (1 - 54:30)
A. Request to Amend the Speed Limit Ordinance for 14th Avenue NW/14th Avenue Drive NW to be 25 mph Along the Entire Stretch of the Roadway. - The Traffic Division has preformed traffic studies which have shown that a significant amount of traffic is speeding. It is recommended to amend the speed limit along 14th Avenue Drive NW to 25 mph for the western portion of the road from 160 feet east of 10th Street Drive NW until the end of 14th Avenue Drive NW, approximately, 1,480 feet in length. Removed from the Consent Agenda.. Discussed briefly and Approved.
B. Request to Amend the Parking Ordinance for the Farmer’s Market to Include Last Year’s Ordinance (Number 12-19) with a Time Change to Include Only the Union Square “Sails on the Square” Location. - It is recommended to amend the Traffic Ordinance by prohibiting parking in the Union Square lot to facilitate The Farmers Market. Parking will be prohibited in the spaces south of Union Square along the north side of the parking lot road connecting the east and west parking lots as well as along the west parking lot to incorporate the first three angled parking spaces. Parking will be prohibited on Wednesdays from 8:30 AM until 4:00 PM and on Saturdays from 6:30 AM until 2:00 PM during the Farmers Market season as well as on November 23 and 30, 2013 from 10:00 AM until 2:00 PM. Also, parking will be will be prohibited in the western spaces south of Union Square on the north side of the parking lot road connecting the east and west parking lots as well as along the west parking lot to include the first three (3) angled parking on Mondays from 8:30AM until 8:00PM, May 6, 2013 through October 7, 2013. Towing will be enforced. Parking Ordinance #12-19 will become null and void. New Parking Ordinance # 13-06 will cover this recommended change.
C. Request from the Community Appearance Commission for Approval of a Landscape Grant for Non-Residential Property Owned by the Hickory Public School System Located at 1234 3rd Street NE, in the Amount of $2,200. - The proposal involves the raising of the tree canopy along 3rd Street NE. This is to include removal of dead or damaged limbs, trimming of limbs against building walls and general shaping of the trees. The applicant has explicitly stated tree topping will not occur. The applicant has provided two (2) bids for the items listed above, which amount to $5,075 and $4,400. The grants are designed as a reimbursement grant in which the City of Hickory will match the applicant on a 50/50 basis, with the maximum grant amount being $2,500. The applicant has indicated their desire to accept the lower of the two bids, which would qualify the proposal for a grant in the amount of $2,200.
D. Request from the Community Appearance Commission for Approval of an Appearance Grant for Non-Residential Property Owned by Tim Cline Properties, LLC located at 234 Union Square in the Amount of $5,000. - The proposal involves the removal (demolition) of the aged metal façade on the building. Upon removal of the metal façade, the brickwork will be cleaned, the window trim will bere worked and a new awning will be installed. The applicant has provided two (2) bids for the items listed above, both of which exceed $10,000 in value. The grants are designed as a reimbursement grant in which the City of Hickory will match the applicant on a 50/50 basis. The maximum grant amount from the City of Hickory is $5,000. The proposal qualifies for the full $5,000 grant.
E. Request from the Community Appearance Commission for Approval of a Landscape Grant for Non-Residential Property Owned by Salina Shue located at 48 29th Avenue NE, in the amount of $2,500. - The proposal involves the installation of landscaping around the commercial building which was recently converted from a residence. The landscaping consists of trees, shrubbery and sod. The applicant has provided two (2) bids for the items listed above, which amount to $6,228 and $6,000. The grants are designed as a reimbursement grant in which the City of Hickory will match the applicant on a 50/50 basis. The maximum grant amount from the City of Hickory is $2,500. Both bids exceed $5,000; the proposal qualifies for the full $2,500 grant.
F. Approval of a Transfer of a Cemetery Deed from Jane Sox Monroe to James Rodney Cook in Oakwood Cemetery
G. Approval of a Transfer of a Cemetery Deed from James Rodney Cook aka Rodney Cook to The Reece Family Trust, dated June 11, 2004, Joel L. Reece and Sarah Anne A. Reece, Trustors and/or Trustees in Oakwood Cemetery
H. Request Approval to Issue a Pyrotechnic Display Permit to Hickory Motor Speedway. - Hickory Motor Speedway has submitted a request to obtain permission to conduct a public fireworks display for the following dates: June 29, 2013, with a rain date of July 13th or 20th; July 27, 2013, with a rain date of July 28th or August 3rd; September 14, 2013 with a rain date of September 15th, 28th or October 12th. The North Carolina Fire Code requires a mandatory operational permit for the use and handling of pyrotechnic special effects material. The Fire Prevention Bureau shall review all required documentation and will also inspect the pyrotechnics display area prior to the event to ensure compliance.
I. Acceptance and Approval of the Contract for a new Aerial Fire Apparatus from American LaFrance in the amount of $747,301. - Hickory Fire Department requests approval of the contract from American LaFrance for the replacement of aerial fire apparatus ladder 3, which is an automotive fire apparatus that was originally placed into service in 2000. The new apparatus will be purchased through the Houston-Galveston Area Council (HGAC) Interlocal Contract. The quote for the apparatus is $747,301 and includes several options that crew determined to be
necessary. Funds for this purchase are earmarked in the Capital Reserve Fund.
J. Citizens’ Advisory Committee Recommendations for Assistance through the City of Hickory’s Housing Programs - The following requests were considered by the Citizens’ Advisory Committee at their regular meeting on February 7, 2013:
Sai Thao & Sheng Vang were approved for recommendation to City Council for first-time homebuyer’s assistance to purchase a house located at 1316 C Avenue SE, Hickory. They have requested $5,000 for assistance with down payment
and closing costs. The First-Time Homebuyers Assistance Loan is zero interest, no payments and repaid upon sale, refinance or payoff of first mortgage.
Jallie Wimbush, 232 7th Street SE, Hickory, was awarded a City of Hickory’s Housing Rehabilitation Loan. The Citizens’ Advisory Committee recommends approval for assistance not to exceed $10,000 for repairs to her house
Assistance would be in the form of a 3% interest loan for a 10 year period. Funds are budgeted for these items through the City of Hickory’s former Rental Rehabilitation Program income received in FY 2011 and/or program income received through the City of Hickory’s Community Development Block Grant Program. Each of the following applicants is being recommended for approval for assistance under the City of Hickory’s 2012 Urgent Repair Program. This program provides qualified low income citizens with assistance for emergency-related repairs not to exceed $5,400.
Mary Canipe, 1264 22nd Street NE, Hickory,
Thelma Capps, 105 17th Street NW, Hickory,
Michelle Clawson, 1309 F Avenue SE, Hickory,
Annie Hewitt, 113 8th Avenue Drive SE, Hickory,
K. Budget Ordinance Amendment No. 13.
1. To transfer $28,795 of General Fund Contingency to the Fire Department Maintenance and Repair of Buildings line item. This budget amendment is needed to pay for necessary repairs to the men’s shower area in Fire Station 1 that will alleviate recurring plumbing issues.
2. To appropriate $747,301 of General Capital Reserve and budget in the Fire Department Capital Vehicles line item. This budget amendment is necessary to make funds available for the purchase of a replacement aerial ladder truck. The new ladder truck will replace ladder truck # 3 which was has now exceeded its usefulness and reliability as a front line unit. The current ladder truck # 3 will be used as a reserve unit.
3. To transfer $200,756 from the Water Treatment Plant Capital Reserve to the Water Plant Maintenance and Repair of Buildings line item. This amendment is necessary to pay for the Water Treatment Plant chemical feed piping improvements project. This past year the piping infrastructure experienced 9 breaks or leaks which have affected operations at the facility. The piping currently in place has been in continuous operation for 20 years since the facility was upgraded in 1993.
Informational Items (1 - 56:00)
A. Mayor Wright’s Travel to the NCLM Advocacy Goals Conference 2013, Raleigh, NC, January 23-24, 2013, Registration $110; Lodging and Meals $184.40, and Mileage $200.01. (Exhibit IX.A.)
B. Mayor Wright’s Travel to the NCLM Board Meeting, Emerald Isle, NC, November 15-16, 2012, Lodging – to be invoiced, Meals $34.00, Mileage $355.20. (Exhibit IX.B.)
New Business - Public Hearings
1. (1 - 56:50) Contiguous Voluntary Annexation of 2.88 Acres of Street Right-of-Way located at 13th Avenue Drive SE and 21st Street Lane SE, Hickory. - The City of Hickory has submitted a petition for the contiguous voluntary annexation of 2.88 acres of street right-of-way. The right-of-way is under 13th Avenue Drive SE and 21st Street Lane SE. The streets are located near the northwest corner of US 70 SE and McDonald Parkway SE. The City of Hickory wishes to annex the rights-of-way in order to provide public maintenance. Although the streets are open for traffic, they have yet to be annexed for maintenance purposes.
2. (1 - 1:00:35) Rezoning Petition 13-01 for the Property Located at 330 21st Street SE. - The City of Hickory requests the rezoning of property located at 330 21st Street SE from High Density Residential (R-4) to General Business (C-2). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the property was zoned Industrial. While retaining the Industrial zoning classification the property was developed as the location of a business. When new city-wide zoning maps were adopted in 2011 the property was incorrectly assigned a residential classification, rather than a commercial classification.
3. (1 - 1:03:40) Rezoning Petition 13-02 for the Property Located at 526 17th Street NW. - The City of Hickory requests the rezoning of property located at 526 17th Street NW from Industrial (IND) to High Density Residential (R-4). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the property was zoned residential, and has long been used for residential purposes. When new city-wide zoning maps were adopted in 2011 the property was incorrectly assigned an industrial classification, rather than a residential classification.
4. (1 - 1:06:00)Rezoning Petition 13-03 for the Properties Located at 1425 3rd Street Place NE, adjacent vacant lot, and 339-345 14th Avenue NE. - The City of Hickory requests the rezoning of properties located at 1425 3rd Street Place NE, an adjacent vacant lot and 339-345 14th Avenue NE from High Density Residential (R-4) to Office – Institutional (OI). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the property was zoned Office – Institutional. The property was zoned Office – Institutional in 2003 at the request of the property owner. In 2011, when new city-wide zoning maps were adopted, the properties were incorrectly assigned a residential zoning classification, which inadvertently reversed the rezoning petition approved in 2003. The property is currently utilized for residential purposes, which is permitted by-right in Office-Institutional districts. This public hearing was advertised on February 8 and February 15, 2013, in a newspaper having general circulation in the Hickory area.
5. (1 - 1:07:00) Rezoning Petition 13-04 for the Property Located at 2206 Tate Boulevard SE. - The City of Hickory requests the rezoning of property located at 2206 Tate Boulevard SE from High Density Residential (R-4) to Industrial (IND). This rezoning is being requested to correct a mapping error which occurred in 2011. When new city-wide zoning maps were adopted in 2011 the property was incorrectly assigned an industrial classification rather than a residential classification. The requested rezoning is an effort to correct the identified mapping error and return the property to its previous industrial zoning classification.
6. (1 - 1:09:00) Rezoning Petition 13-05 for the Properties Located at 3661 16th Street NE, 3703 16th Street NE, and 1515 Cloninger Mill Road. - The City of Hickory requests the properties located at 3661 16th Street NE and 3703 16th Street NE be rezoned from Neighborhood Commercial (NC) to Medium Density Residential (R-2), and the property located at 1515 Cloninger Mill Road NE be rezoned from Neighborhood Commercial (NC) to Low Density Residential (R-1). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the properties were zoned residential. The rezoning will correct the identified mapping error and alleviate any potentially negative impacts the incorrect zoning classification would have on their residences.
7. (1 - 1:11:25) Rezoning Petition 13-06 for the Property Located at the Northeast Corner of the Intersection of Cloninger Mill Road NE and North Center Street (NC 127). - The City of Hickory requests the property located at the northeast corner of the intersection of Cloninger Mill Road NE and North Center Street (NC 127) be rezoned from Neighborhood Commercial (NC) and Medium Density Residential (R-2) to Neighborhood Commercial (NC). The subject property is currently zoned both Neighborhood Commercial (NC) and Medium Density Residential (R-2). The request is to zone the property Neighborhood Commercial (NC) in its entirety.
Steve Ivester spoke against the petition, because he disagrees with splitting out a piece of the Park for commercial use.
The Hound: Personally I would like to see this property sold to create a spa/restaurant/mixed use property and that money can be used to develop the park and maybe help develop another Park in the Northeast section of the city. Without this money, I don't think this project happens, but I do see people's concerns. We need to see covenants created to ensure that this property is developed in a manner that is most advantageous for everyone and not just a few and does not cause unintended issues going forward.
8. (1 - 1:28:25) Rezoning Petition 13-07 for the Property Located at the Southeast Corner of 29th Avenue Drive NE and 16th Street NE. - The City of Hickory requests the property located at the southeast corner of 29th Avenue Drive NE and 16th Street NE be rezoned from Neighborhood Commercial (NC) to Medium Density Residential (R-3). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the property was zoned residential. The property is currently vacant. The requested rezoning will correct the identified mapping error.
9. (1 - 1:30:55) Rezoning Petition 13-08 for the Property Located at 2633 Springs Road NE. - Venture Properties VII, LLC requests the rezoning of 1.675 acres of property located at 2633 Springs Road NE. The area of rezoning is a portion of a larger tract or property which will be subdivided in the future. The request is to rezone the rear of the property from Medium Density Residential (R-2) to Commercial Corridor (CC-2). The frontage of the property is currently zoned Commercial Corridor (CC-2). This particular rezoning is requested to provide additional area for a proposed new retail building.
New Business - Departmental Reports:
1. (2 -7:15)Request Acceptance of Changes to the Grant Guidelines for the Vacant Building Grant. - The following guideline changes on page one of the grant would encourage wider use of the grant program without opening the grant program up to abuse by projects that do not meet the intent of the grant. The City of Hickory has designated an Urban Revitalization Area within the city limits. High Priority Brownfield Sites Suspect Brownfield Sites as determined by the Planning Director are also eligible regardless of location. Only vacant commercial and industrial buildings are eligible. Other former mill or industrial buildings may be considered eligible if the redevelopment will contribute to the revitalization of the surrounding neighborhood as determined by the Planning Director. Applicants must spend at least $75,000, $35,000 in eligible project improvements to be eligible for grant funding. At least $30,000 $10,000 must include exterior improvements to the building. All projects receiving a vacant building grant must have a Phase 1 Environmental Assessment completed before City Council approval. These changes will target smaller redevelopment projects that meet the intent of the program without allowing wide use of the program by projects that are not focused upon neighborhood revitalization or strengthening the urban core revitalization area.
2. (2 - 20:45) Amendment to City Council Meeting Agenda and Related Policy - Staff will discuss recommendations regarding public comment at City Council meetings Amending Section 2-55 (b) of the Hickory Code of Ordinances and amending Council Policy No. 05-06.
3. (2 - 27:20) Youth Protection Ordinance - Staff will discuss a proposal to implement a youth protection ordinance to define the ages, night time hours, and situations where youth will be permitted in public without a parent or guardian. This presentation is an introduction of the proposal to City Council. After Tuesday night’s presentation, staff will seek input from the community at different venues over the next month before bringing a proposed draft ordinance back to City Council for consideration. Deputy City Attorney Arnita Dula and Chief Tom Adkins are the primary staff members for this proposal.
The Hound: I don't know what to think of this. When I was a kid we would be out at night, but I understand the angst of some with all that goes on in the world these days. Chief Adkins said this would be used as a tool. I would hate to see kids not be able to go to the Mall or Movies at night.
4. (2 - 39:40) Update on City Council Chambers Audio-Video Improvements. - Staff will discuss the options and costs associated with filming council meetings and putting them in the right format for television and/or web broadcast.
The Hound spoke about this as part of the Citizens for Equity in Government Checklist. We have been video recording City Council meetings for a couple of months and we have audio recorded meetings for 4 years and making entire meetings available on audio for a while and making specific audio available over the past four years. It was taking too long to produce transcripts of meetings and it is better to condition this audience to get first hand accounts of the City Council meetings. You can listen to it as quickly and easily as you can read it.
At this meeting, a couple people on the Council wanted to speak to the quality of the video production of these meetings should this move forward. I know that the public that I have spoken with do not care about a polished production... and this isn't about Hickory Inc. It is about the people. They just want something that is realistic and feasible that allows them to follow the proceedings.
As I have said, I have only been recording the meetings to force the issue and move this forward. I am not doing this for some personally grandiose reason. This is about checks and balances, so that if something big goes down, then people will be able to follow what is going on first hand and our elected officials and bureaucracy are going to have to better explain what they are doing and their reasononing.
It is a good first step that the audio of the meetings has been put on Youtube and they have said that they will issue the Power Point presentations from the meetings. That will help the public follow along more easily.
Video is obviously nowhere near as hard as they are making it out to be and we will continue producing these videos until Hickory Inc. gets this done. I have also obtained the information that was presented to the Newspaper as between $12,000 and $20,000 to "fix" the Council Chambers and $200 to $2,400 for recording each meeting. Those numbers weren't pulled out of thin air. I will break that information down going forward.
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 2/5/2012 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.
City Website has changed - Here is a link to the City of Hickory Document Center
All materials and maps for this meeting are provide at this link:
Hickory City Council Agenda - February 19, 2013 (25MB)
Invocation by Alderman Danny Seaver (:40)
(2:30) - Mayor Wright made a motion to allow Citizens to address the Council. A couple of couples, (David and Martha Branding) and Tanya and David Mikiel? wanted to address an item on the Consent Agenda Item A, Speed Limit Ordinance for 14th Avenue NW/14th Avenue Drive NW to be 25 mph Along the Entire Stretch of the Roadway.
Special Presentations (9:40)
A. Presentation By Community Groups Requesting Appropriations from the City Council. During the Next Fiscal Year Beginning July 1, 2013. The Council will not take action tonight. Action will be taken when the Council considers the City’s annual budget in May or June. These presentations are made so Council Members can ask questions or make comments about the requests. Presenters will be allotted no more than five (5) minutes to make their presentations to Council.
Organization - Presentation By - Amount Requested
(1 - 10:10) Catawba County Economic Development Corporation - Scott Millar - $141,339
(1 - 17:10) SALT Block Foundation Mark Sinclair $100,000 -
(1 - 21:15) The Woman’s Club Sandy Jahn - $75,000
(1 - 24:50) Hickory Downtown Development Association - Connie Kincaid - $50,000
(1 - 30:45) United Arts Council of Catawba County - Jamie Treadaway - $40,010
(1 - 35:10) Hickory Metro Convention and Visitors Bureau - Bebe Leitch - $20,000
(1 - 41:50) Habitat for Humanity - Mitzi Gellman - $7,816
(1 - 42:50)Women’s Resource Center - Cindy Rose - $5,000
B. (1 - 49:20) Business Well Crafted Presentation Award - Hickory Sheet Metal has been located in Hickory since 1928. The award was presented from Ryan Lovern of the Business Development Committee to Dolan and Lanny Huffman. They have worked on many projects throughout the community with over 100 years of experience.
Consent Agenda: (1 - 54:30)
A. Request to Amend the Speed Limit Ordinance for 14th Avenue NW/14th Avenue Drive NW to be 25 mph Along the Entire Stretch of the Roadway. - The Traffic Division has preformed traffic studies which have shown that a significant amount of traffic is speeding. It is recommended to amend the speed limit along 14th Avenue Drive NW to 25 mph for the western portion of the road from 160 feet east of 10th Street Drive NW until the end of 14th Avenue Drive NW, approximately, 1,480 feet in length. Removed from the Consent Agenda.. Discussed briefly and Approved.
B. Request to Amend the Parking Ordinance for the Farmer’s Market to Include Last Year’s Ordinance (Number 12-19) with a Time Change to Include Only the Union Square “Sails on the Square” Location. - It is recommended to amend the Traffic Ordinance by prohibiting parking in the Union Square lot to facilitate The Farmers Market. Parking will be prohibited in the spaces south of Union Square along the north side of the parking lot road connecting the east and west parking lots as well as along the west parking lot to incorporate the first three angled parking spaces. Parking will be prohibited on Wednesdays from 8:30 AM until 4:00 PM and on Saturdays from 6:30 AM until 2:00 PM during the Farmers Market season as well as on November 23 and 30, 2013 from 10:00 AM until 2:00 PM. Also, parking will be will be prohibited in the western spaces south of Union Square on the north side of the parking lot road connecting the east and west parking lots as well as along the west parking lot to include the first three (3) angled parking on Mondays from 8:30AM until 8:00PM, May 6, 2013 through October 7, 2013. Towing will be enforced. Parking Ordinance #12-19 will become null and void. New Parking Ordinance # 13-06 will cover this recommended change.
C. Request from the Community Appearance Commission for Approval of a Landscape Grant for Non-Residential Property Owned by the Hickory Public School System Located at 1234 3rd Street NE, in the Amount of $2,200. - The proposal involves the raising of the tree canopy along 3rd Street NE. This is to include removal of dead or damaged limbs, trimming of limbs against building walls and general shaping of the trees. The applicant has explicitly stated tree topping will not occur. The applicant has provided two (2) bids for the items listed above, which amount to $5,075 and $4,400. The grants are designed as a reimbursement grant in which the City of Hickory will match the applicant on a 50/50 basis, with the maximum grant amount being $2,500. The applicant has indicated their desire to accept the lower of the two bids, which would qualify the proposal for a grant in the amount of $2,200.
D. Request from the Community Appearance Commission for Approval of an Appearance Grant for Non-Residential Property Owned by Tim Cline Properties, LLC located at 234 Union Square in the Amount of $5,000. - The proposal involves the removal (demolition) of the aged metal façade on the building. Upon removal of the metal façade, the brickwork will be cleaned, the window trim will bere worked and a new awning will be installed. The applicant has provided two (2) bids for the items listed above, both of which exceed $10,000 in value. The grants are designed as a reimbursement grant in which the City of Hickory will match the applicant on a 50/50 basis. The maximum grant amount from the City of Hickory is $5,000. The proposal qualifies for the full $5,000 grant.
E. Request from the Community Appearance Commission for Approval of a Landscape Grant for Non-Residential Property Owned by Salina Shue located at 48 29th Avenue NE, in the amount of $2,500. - The proposal involves the installation of landscaping around the commercial building which was recently converted from a residence. The landscaping consists of trees, shrubbery and sod. The applicant has provided two (2) bids for the items listed above, which amount to $6,228 and $6,000. The grants are designed as a reimbursement grant in which the City of Hickory will match the applicant on a 50/50 basis. The maximum grant amount from the City of Hickory is $2,500. Both bids exceed $5,000; the proposal qualifies for the full $2,500 grant.
F. Approval of a Transfer of a Cemetery Deed from Jane Sox Monroe to James Rodney Cook in Oakwood Cemetery
G. Approval of a Transfer of a Cemetery Deed from James Rodney Cook aka Rodney Cook to The Reece Family Trust, dated June 11, 2004, Joel L. Reece and Sarah Anne A. Reece, Trustors and/or Trustees in Oakwood Cemetery
H. Request Approval to Issue a Pyrotechnic Display Permit to Hickory Motor Speedway. - Hickory Motor Speedway has submitted a request to obtain permission to conduct a public fireworks display for the following dates: June 29, 2013, with a rain date of July 13th or 20th; July 27, 2013, with a rain date of July 28th or August 3rd; September 14, 2013 with a rain date of September 15th, 28th or October 12th. The North Carolina Fire Code requires a mandatory operational permit for the use and handling of pyrotechnic special effects material. The Fire Prevention Bureau shall review all required documentation and will also inspect the pyrotechnics display area prior to the event to ensure compliance.
I. Acceptance and Approval of the Contract for a new Aerial Fire Apparatus from American LaFrance in the amount of $747,301. - Hickory Fire Department requests approval of the contract from American LaFrance for the replacement of aerial fire apparatus ladder 3, which is an automotive fire apparatus that was originally placed into service in 2000. The new apparatus will be purchased through the Houston-Galveston Area Council (HGAC) Interlocal Contract. The quote for the apparatus is $747,301 and includes several options that crew determined to be
necessary. Funds for this purchase are earmarked in the Capital Reserve Fund.
J. Citizens’ Advisory Committee Recommendations for Assistance through the City of Hickory’s Housing Programs - The following requests were considered by the Citizens’ Advisory Committee at their regular meeting on February 7, 2013:
Sai Thao & Sheng Vang were approved for recommendation to City Council for first-time homebuyer’s assistance to purchase a house located at 1316 C Avenue SE, Hickory. They have requested $5,000 for assistance with down payment
and closing costs. The First-Time Homebuyers Assistance Loan is zero interest, no payments and repaid upon sale, refinance or payoff of first mortgage.
Jallie Wimbush, 232 7th Street SE, Hickory, was awarded a City of Hickory’s Housing Rehabilitation Loan. The Citizens’ Advisory Committee recommends approval for assistance not to exceed $10,000 for repairs to her house
Assistance would be in the form of a 3% interest loan for a 10 year period. Funds are budgeted for these items through the City of Hickory’s former Rental Rehabilitation Program income received in FY 2011 and/or program income received through the City of Hickory’s Community Development Block Grant Program. Each of the following applicants is being recommended for approval for assistance under the City of Hickory’s 2012 Urgent Repair Program. This program provides qualified low income citizens with assistance for emergency-related repairs not to exceed $5,400.
Mary Canipe, 1264 22nd Street NE, Hickory,
Thelma Capps, 105 17th Street NW, Hickory,
Michelle Clawson, 1309 F Avenue SE, Hickory,
Annie Hewitt, 113 8th Avenue Drive SE, Hickory,
K. Budget Ordinance Amendment No. 13.
1. To transfer $28,795 of General Fund Contingency to the Fire Department Maintenance and Repair of Buildings line item. This budget amendment is needed to pay for necessary repairs to the men’s shower area in Fire Station 1 that will alleviate recurring plumbing issues.
2. To appropriate $747,301 of General Capital Reserve and budget in the Fire Department Capital Vehicles line item. This budget amendment is necessary to make funds available for the purchase of a replacement aerial ladder truck. The new ladder truck will replace ladder truck # 3 which was has now exceeded its usefulness and reliability as a front line unit. The current ladder truck # 3 will be used as a reserve unit.
3. To transfer $200,756 from the Water Treatment Plant Capital Reserve to the Water Plant Maintenance and Repair of Buildings line item. This amendment is necessary to pay for the Water Treatment Plant chemical feed piping improvements project. This past year the piping infrastructure experienced 9 breaks or leaks which have affected operations at the facility. The piping currently in place has been in continuous operation for 20 years since the facility was upgraded in 1993.
Informational Items (1 - 56:00)
A. Mayor Wright’s Travel to the NCLM Advocacy Goals Conference 2013, Raleigh, NC, January 23-24, 2013, Registration $110; Lodging and Meals $184.40, and Mileage $200.01. (Exhibit IX.A.)
B. Mayor Wright’s Travel to the NCLM Board Meeting, Emerald Isle, NC, November 15-16, 2012, Lodging – to be invoiced, Meals $34.00, Mileage $355.20. (Exhibit IX.B.)
New Business - Public Hearings
1. (1 - 56:50) Contiguous Voluntary Annexation of 2.88 Acres of Street Right-of-Way located at 13th Avenue Drive SE and 21st Street Lane SE, Hickory. - The City of Hickory has submitted a petition for the contiguous voluntary annexation of 2.88 acres of street right-of-way. The right-of-way is under 13th Avenue Drive SE and 21st Street Lane SE. The streets are located near the northwest corner of US 70 SE and McDonald Parkway SE. The City of Hickory wishes to annex the rights-of-way in order to provide public maintenance. Although the streets are open for traffic, they have yet to be annexed for maintenance purposes.
2. (1 - 1:00:35) Rezoning Petition 13-01 for the Property Located at 330 21st Street SE. - The City of Hickory requests the rezoning of property located at 330 21st Street SE from High Density Residential (R-4) to General Business (C-2). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the property was zoned Industrial. While retaining the Industrial zoning classification the property was developed as the location of a business. When new city-wide zoning maps were adopted in 2011 the property was incorrectly assigned a residential classification, rather than a commercial classification.
3. (1 - 1:03:40) Rezoning Petition 13-02 for the Property Located at 526 17th Street NW. - The City of Hickory requests the rezoning of property located at 526 17th Street NW from Industrial (IND) to High Density Residential (R-4). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the property was zoned residential, and has long been used for residential purposes. When new city-wide zoning maps were adopted in 2011 the property was incorrectly assigned an industrial classification, rather than a residential classification.
4. (1 - 1:06:00)Rezoning Petition 13-03 for the Properties Located at 1425 3rd Street Place NE, adjacent vacant lot, and 339-345 14th Avenue NE. - The City of Hickory requests the rezoning of properties located at 1425 3rd Street Place NE, an adjacent vacant lot and 339-345 14th Avenue NE from High Density Residential (R-4) to Office – Institutional (OI). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the property was zoned Office – Institutional. The property was zoned Office – Institutional in 2003 at the request of the property owner. In 2011, when new city-wide zoning maps were adopted, the properties were incorrectly assigned a residential zoning classification, which inadvertently reversed the rezoning petition approved in 2003. The property is currently utilized for residential purposes, which is permitted by-right in Office-Institutional districts. This public hearing was advertised on February 8 and February 15, 2013, in a newspaper having general circulation in the Hickory area.
5. (1 - 1:07:00) Rezoning Petition 13-04 for the Property Located at 2206 Tate Boulevard SE. - The City of Hickory requests the rezoning of property located at 2206 Tate Boulevard SE from High Density Residential (R-4) to Industrial (IND). This rezoning is being requested to correct a mapping error which occurred in 2011. When new city-wide zoning maps were adopted in 2011 the property was incorrectly assigned an industrial classification rather than a residential classification. The requested rezoning is an effort to correct the identified mapping error and return the property to its previous industrial zoning classification.
6. (1 - 1:09:00) Rezoning Petition 13-05 for the Properties Located at 3661 16th Street NE, 3703 16th Street NE, and 1515 Cloninger Mill Road. - The City of Hickory requests the properties located at 3661 16th Street NE and 3703 16th Street NE be rezoned from Neighborhood Commercial (NC) to Medium Density Residential (R-2), and the property located at 1515 Cloninger Mill Road NE be rezoned from Neighborhood Commercial (NC) to Low Density Residential (R-1). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the properties were zoned residential. The rezoning will correct the identified mapping error and alleviate any potentially negative impacts the incorrect zoning classification would have on their residences.
7. (1 - 1:11:25) Rezoning Petition 13-06 for the Property Located at the Northeast Corner of the Intersection of Cloninger Mill Road NE and North Center Street (NC 127). - The City of Hickory requests the property located at the northeast corner of the intersection of Cloninger Mill Road NE and North Center Street (NC 127) be rezoned from Neighborhood Commercial (NC) and Medium Density Residential (R-2) to Neighborhood Commercial (NC). The subject property is currently zoned both Neighborhood Commercial (NC) and Medium Density Residential (R-2). The request is to zone the property Neighborhood Commercial (NC) in its entirety.
Steve Ivester spoke against the petition, because he disagrees with splitting out a piece of the Park for commercial use.
The Hound: Personally I would like to see this property sold to create a spa/restaurant/mixed use property and that money can be used to develop the park and maybe help develop another Park in the Northeast section of the city. Without this money, I don't think this project happens, but I do see people's concerns. We need to see covenants created to ensure that this property is developed in a manner that is most advantageous for everyone and not just a few and does not cause unintended issues going forward.
8. (1 - 1:28:25) Rezoning Petition 13-07 for the Property Located at the Southeast Corner of 29th Avenue Drive NE and 16th Street NE. - The City of Hickory requests the property located at the southeast corner of 29th Avenue Drive NE and 16th Street NE be rezoned from Neighborhood Commercial (NC) to Medium Density Residential (R-3). This rezoning is being requested to correct a mapping error which occurred in 2011. Prior to 2011 the property was zoned residential. The property is currently vacant. The requested rezoning will correct the identified mapping error.
9. (1 - 1:30:55) Rezoning Petition 13-08 for the Property Located at 2633 Springs Road NE. - Venture Properties VII, LLC requests the rezoning of 1.675 acres of property located at 2633 Springs Road NE. The area of rezoning is a portion of a larger tract or property which will be subdivided in the future. The request is to rezone the rear of the property from Medium Density Residential (R-2) to Commercial Corridor (CC-2). The frontage of the property is currently zoned Commercial Corridor (CC-2). This particular rezoning is requested to provide additional area for a proposed new retail building.
New Business - Departmental Reports:
1. (2 -7:15)Request Acceptance of Changes to the Grant Guidelines for the Vacant Building Grant. - The following guideline changes on page one of the grant would encourage wider use of the grant program without opening the grant program up to abuse by projects that do not meet the intent of the grant. The City of Hickory has designated an Urban Revitalization Area within the city limits. High Priority Brownfield Sites Suspect Brownfield Sites as determined by the Planning Director are also eligible regardless of location. Only vacant commercial and industrial buildings are eligible. Other former mill or industrial buildings may be considered eligible if the redevelopment will contribute to the revitalization of the surrounding neighborhood as determined by the Planning Director. Applicants must spend at least $75,000, $35,000 in eligible project improvements to be eligible for grant funding. At least $30,000 $10,000 must include exterior improvements to the building. All projects receiving a vacant building grant must have a Phase 1 Environmental Assessment completed before City Council approval. These changes will target smaller redevelopment projects that meet the intent of the program without allowing wide use of the program by projects that are not focused upon neighborhood revitalization or strengthening the urban core revitalization area.
2. (2 - 20:45) Amendment to City Council Meeting Agenda and Related Policy - Staff will discuss recommendations regarding public comment at City Council meetings Amending Section 2-55 (b) of the Hickory Code of Ordinances and amending Council Policy No. 05-06.
3. (2 - 27:20) Youth Protection Ordinance - Staff will discuss a proposal to implement a youth protection ordinance to define the ages, night time hours, and situations where youth will be permitted in public without a parent or guardian. This presentation is an introduction of the proposal to City Council. After Tuesday night’s presentation, staff will seek input from the community at different venues over the next month before bringing a proposed draft ordinance back to City Council for consideration. Deputy City Attorney Arnita Dula and Chief Tom Adkins are the primary staff members for this proposal.
The Hound: I don't know what to think of this. When I was a kid we would be out at night, but I understand the angst of some with all that goes on in the world these days. Chief Adkins said this would be used as a tool. I would hate to see kids not be able to go to the Mall or Movies at night.
4. (2 - 39:40) Update on City Council Chambers Audio-Video Improvements. - Staff will discuss the options and costs associated with filming council meetings and putting them in the right format for television and/or web broadcast.
The Hound spoke about this as part of the Citizens for Equity in Government Checklist. We have been video recording City Council meetings for a couple of months and we have audio recorded meetings for 4 years and making entire meetings available on audio for a while and making specific audio available over the past four years. It was taking too long to produce transcripts of meetings and it is better to condition this audience to get first hand accounts of the City Council meetings. You can listen to it as quickly and easily as you can read it.
At this meeting, a couple people on the Council wanted to speak to the quality of the video production of these meetings should this move forward. I know that the public that I have spoken with do not care about a polished production... and this isn't about Hickory Inc. It is about the people. They just want something that is realistic and feasible that allows them to follow the proceedings.
As I have said, I have only been recording the meetings to force the issue and move this forward. I am not doing this for some personally grandiose reason. This is about checks and balances, so that if something big goes down, then people will be able to follow what is going on first hand and our elected officials and bureaucracy are going to have to better explain what they are doing and their reasononing.
It is a good first step that the audio of the meetings has been put on Youtube and they have said that they will issue the Power Point presentations from the meetings. That will help the public follow along more easily.
Video is obviously nowhere near as hard as they are making it out to be and we will continue producing these videos until Hickory Inc. gets this done. I have also obtained the information that was presented to the Newspaper as between $12,000 and $20,000 to "fix" the Council Chambers and $200 to $2,400 for recording each meeting. Those numbers weren't pulled out of thin air. I will break that information down going forward.
Monday, February 25, 2013
Economic Stories of Relevance in Today's World -- February 24, 2013
Economist: Why the Middle Class Is Declining - CNBC - Justin Menza - February 24, 2013 -
The American middle class is "hollowing out" as the U.S. economy fails to compete effectively in a globalized world, Harvard economist Michael Porter told CNBC's "Closing Bell" this week.
"America used to be a uniquely productive, low-cost place to do business," Porter said on Thursday. "We had efficient infrastructure. We had limited regulation. We believed in the market."
But bit-by-bit this position has eroded. Regulatory costs have gone up, Porters said, the legal system is more cumbersome, infrastructure is eroding and the country is falling behind on skills.
That means the many Americans do not have the skills needed to earn a decent living and for the first time in 50 or 60 years, incomes are stagnating and the middle class, which Porter called the bedrock of America, is "hollowing out." "Being an American doesn't mean that you're guaranteed a high wage," in the era of globalized competition, Porter said. "You have to be productive, and we have to create a very low-cost efficient place to do business and we've let all that slip in America." The country's budgetary problems are largely a symptom of this lost competitiveness and economic weakness. Without rising incomes and an improvement in the fundamental performance of the economy, there's been less tax revenue, he said. To offset declining incomes, the government has had to make promises to help pay for health care, retirement and housing, but the economy can't afford them because it isn't performing, according to the economist. America can return to competitiveness, Porter said, if the corporate tax code becomes more efficient, there's a sustainable budget compromise and the U.S. takes advantage of the shale revolution to move toward energy independence.
Which Tax Deductions Are Most Likely to Go? - CNBC - Mark Koba - February 24, 2013 -
... Congressional hearings have begun on the most well-known, and according to some experts, most likely to be reformed or eliminated. Among them: charitable deductions, deductions on home mortgage interest, the so called carried interest — the tax break for private equity and hedge fund managers — and limiting tax deductions on corporate profits. Loopholes and tax breaks cost the Treasury more than $1 trillion each year, according to government estimates. Among the biggest losses come from tax breaks for U.S. corporations — $114 billion — the mortgage interest deduction — an estimated $77 billion — and charitable donations — $38 billion. Each of the parties at risk are fighting back. Several charitable groups testified before Congress recently, saying that if their deduction is lowered or eliminated, people will stop giving. The housing industry — most specifically builders — say the mortgage interest deduction is necessary for the housing market to recover from its recession lows. Corporations say their U.S. tax rates are the highest in the world, at 35 percent. Hedge funds and private equity firms say part of their fees are based on risk, and therefore their tax rate — which was just raised with the fiscal cliff deal from 20 to 25 percent — should be treated like an investment instead of a salary, and therefore taxed at a different rate. (Read More: Home Builder Confidence Falls)
Why Do US Taxpayers Give the Big Banks a $83 Billion/Year Subsidy? - AgainstCronyCapitalism.org - Nick Sorrentino - February 22, 2013 - As the attached article explains, the banks deemed “too big to fail” get to borrow money at artificially low rates. Creditors know that if a TBTF bank gets into trouble that bank will always be bailed out by the government (taxpayer.) The TBTF designation, now codified in Dodd-Frank, is an implicit subsidy paid for by We the People. The below article argues that the big banks wouldn’t even be profitable if they did not enjoy the designation of bloated financial whale bombs. Additionally the TBTF subsidy puts smaller banks at a strong competitive disadvantage. Borrowing costs are comparatively higher for non-TBTF Tinytown Community Bank for instance, than for a behemoth like Bank of America. This means that over time more and more money moves from Main Street to the big banks. This is probably not the best thing for the country... (From Bloomberg) - The top five banks — JPMorgan, Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and Goldman Sachs Group Inc. – - account for $64 billion of the total subsidy, an amount roughly equal to their typical annual profits (see tables for data on individual banks). In other words, the banks occupying the commanding heights of the U.S. financial industry — with almost $9 trillion in assets, more than half the size of the U.S. economy — would just about break even in the absence of corporate welfare. In large part, the profits they report are essentially transfers from taxpayers to their shareholders.
Economists Warn Fed Risks Losing Control Amid Budget Deficits - Bloomberg - Joshua Zumbrun - February 22, 2013 - Four economists, including a former Federal Reserve governor who has co-written research with Chairman Ben S. Bernanke, warned that losses from the central bank’s more than $3 trillion balance sheet could lead to the Fed losing control of monetary policy... The conclusion from economists, including Frederic Mishkin, a governor at the central bank from 2006 to 2008 and an academic collaborator with Bernanke before that, will be presented at the U.S. Monetary Policy Forum in New York. Their paper serves as a high-profile warning to an audience including Boston Fed President Eric Rosengren, Fed Governor Jerome Powell and St. Louis Fed President James Bullard. The central bank is currently purchasing $85 billion a month of Treasuries and mortgage-backed securities, following two previous rounds totaling $2.3 trillion, in an effort to lower an unemployment rate stuck near 7.9 percent. Once the economy strengthens, the central bank plans to unwind its balance sheet by raising interest rates and selling many of the assets acquired over the past four years... The conclusion from economists, including Frederic Mishkin, a governor at the central bank from 2006 to 2008 and an academic collaborator with Bernanke before that, will be presented at the U.S. Monetary Policy Forum in New York. Their paper serves as a high-profile warning to an audience including Boston Fed President Eric Rosengren, Fed Governor Jerome Powell and St. Louis Fed President James Bullard. The central bank is currently purchasing $85 billion a month of Treasuries and mortgage-backed securities, following two previous rounds totaling $2.3 trillion, in an effort to lower an unemployment rate stuck near 7.9 percent. Once the economy strengthens, the central bank plans to unwind its balance sheet by raising interest rates and selling many of the assets acquired over the past four years. The economists say that the Fed could incur substantial losses that might occur when U.S. deficits are still high and Congress and the White House have been unable to put fiscal policy on a sustainable trajectory. “This unfavorable fiscal arithmetic might tend to push the Fed toward delaying its exit from the extraordinary easing measures it has taken in recent years; it could even affect decisions this year about how much further to expand the Fed’s holdings of longer-term government securities,” the authors said. “The Fed could cut its effective drain on the Treasury significantly by putting off asset sales and delaying policy rate increases. But such a response would presumably feed rising inflation expectations.”
The Spending Crunch Is Official: "We Are Confident There Is An Issue With The Consumer" - Zero Hedge - Tyler Durden - February 20, 2013 - Think the Walmart "disastrous" sales memo was a one-off event, which net of Walmart's damage should be completely ignored (something the market has been perfectly happy to oblige with)? Then listen to a separate perspective on the US consumer, this time from a very different angle: that of Town Sports International which operates such gyms as New York Sports Club, and specifically its CEO David Gallagher, who in last night's conference call just confirmed what everyone knows: "As we moved into January membership trends were tracking to expectations in the first half of the month, but fell off track and did not meet our expectations in the second half of the month. We believe the driver of this was the rapid decline in consumer sentiment that has been reported and is connected to the reduction in net pay consumers earn given the changes in tax rates that went into effect in January."...
40 Ways That China Is Beating America - The End of the American Dream.com - Michael - February 10th, 2013 - China is wiping the floor with the United States on the global economic stage, and most Americans are so clueless that they have absolutely no idea what is happening. The number one global economic superpower is in an advanced state of decline, and the number two global economic superpower is becoming stronger with each passing day. Unless something truly dramatic happens, it is only a matter of time before China overtakes America and become the dominant economic force on the planet. In fact, China is already exercising economic superiority over the United States in a whole host of ways. China produces more goods than we do, China does more total trade in goods with the rest of the world than we do, China produces more cars than we do, China produces more gold than we do, China consumes more energy than we do, China produces more coal than we do and China produces more steel than we do. Every single year, we buy far more from them than they buy from us, and this has made them exceedingly wealthy. Our politicians regularly make trips over to China to beg them to lend us back some of the money that they have taken from us. Today, we owe China more than a trillion dollars and the Chinese are sitting on the biggest pile of foreign currency reserves that the world has ever seen. All of this wealth has fundamentally transformed the nation of China over the past couple of decades. Just check out the startling photographs of China from space in this article that show how China dramatically changed between 1992 and 2010. As China continues to become stronger and as America continues to become weaker, will our children some day wake up in a world where the Chinese are telling them what to do? China became the number one exporter of goods back in 2009, but now China has reached another milestone on the road to global economic dominance. When you total up all exports of goods and all imports of goods, China now conducts more total trade in goods with the rest of the globe than the United States does. China’s emerging role as the dominant player in global trade is shaking things up all over the planet. The following is a brief excerpt from a recent Bloomberg article…
20 Signs That The U.S. Economy Is Heading For Big Trouble In The Months Ahead - The Economic Collapse.com - Michael - February 20th, 2013 - Is the U.S. economy about to experience a major downturn? Unfortunately, there are a whole bunch of signs that economic activity in the United States is really slowing down right now. Freight volumes and freight expenditures are way down, consumer confidence has declined sharply, major retail chains all over America are closing hundreds of stores, and the "sequester" threatens to give the American people their first significant opportunity to experience what "austerity" tastes like. Gas prices are going up rapidly, corporate insiders are dumping massive amounts of stock and there are high profile corporate bankruptcies in the news almost every single day now. In many ways, what we are going through right now feels very similar to 2008 before the crash happened. Back then the warning signs of economic trouble were very obvious, but our politicians and the mainstream media insisted that everything was just fine, and the stock market was very much detached from reality. When the stock market did finally catch up with reality, it happened very, very rapidly. Sadly, most people do not appear to have learned any lessons from the crisis of 2008. Americans continue to rack up staggering amounts of debt, and Wall Street is more reckless than ever. As a society, we seem to have concluded that 2008 was just a temporary malfunction rather than an indication that our entire system was fundamentally flawed. In the end, we will pay a great price for our overconfidence and our recklessness. So what will the rest of 2013 bring? Hopefully the economy will remain stable for as long as possible, but right now things do not look particularly promising.
The Men Who Built America: Remembering The Gilded Age Part 1 - Zero Hedge - Tyler Durden February 21, 2013 - It is perhaps time to look back at what once was. In Part 1 of the 4 part History Channel series, a new war begins as out of the turmoil of the Civil War, America enters an age of enlightenment that will change the landscape of the country forever. The growth is driven by five insightful men who will change the world forever. John D. Rockefeller, Cornelius Vanderbilt, Andrew Carnegie, Henry Ford and J.P. Morgan rose from obscurity and in the process built modern America. Their names hang on street signs, are etched into buildings and are a part of the fabric of history. These men created the American Dream and were the engine of capitalism as they transformed everything they touched in building the oil, rail, steel, shipping, automobile and finance industries. Their paths crossed repeatedly as they elected presidents, set economic policies and influenced major events of the 50 most formative years this country has ever known. From the Civil War to the Great Depression and World War I, for better or worse, they led the way.
The Men Who Built America: Remembering The Gilded Age Part 2 - Zero Hedge - Tyler Durden - February 24, 2013 - Continuing to look back at what once was. Following Part 1's emergence from the civil war and the age of enlightenment, In Part 2 of the 4 part History Channel series, America continues to recover from the Civil War, undertaking the largest building phase of the country s history. While much of the growth is driven by railroads and oil, it's built using steel. From the Civil War to the Great Depression and World War I, for better or worse; for richer or poorer, in ethical and societal sickness or health; these five men - John D. Rockefeller, Cornelius Vanderbilt, Andrew Carnegie, Henry Ford and J.P. Morgan - led the way.
Futurist Ray Kurzweil with Glenn Beck ~ Artificial Intelligence & Reverse-Engineering the Human Brain
The American middle class is "hollowing out" as the U.S. economy fails to compete effectively in a globalized world, Harvard economist Michael Porter told CNBC's "Closing Bell" this week.
"America used to be a uniquely productive, low-cost place to do business," Porter said on Thursday. "We had efficient infrastructure. We had limited regulation. We believed in the market."
But bit-by-bit this position has eroded. Regulatory costs have gone up, Porters said, the legal system is more cumbersome, infrastructure is eroding and the country is falling behind on skills.
That means the many Americans do not have the skills needed to earn a decent living and for the first time in 50 or 60 years, incomes are stagnating and the middle class, which Porter called the bedrock of America, is "hollowing out." "Being an American doesn't mean that you're guaranteed a high wage," in the era of globalized competition, Porter said. "You have to be productive, and we have to create a very low-cost efficient place to do business and we've let all that slip in America." The country's budgetary problems are largely a symptom of this lost competitiveness and economic weakness. Without rising incomes and an improvement in the fundamental performance of the economy, there's been less tax revenue, he said. To offset declining incomes, the government has had to make promises to help pay for health care, retirement and housing, but the economy can't afford them because it isn't performing, according to the economist. America can return to competitiveness, Porter said, if the corporate tax code becomes more efficient, there's a sustainable budget compromise and the U.S. takes advantage of the shale revolution to move toward energy independence.
Which Tax Deductions Are Most Likely to Go? - CNBC - Mark Koba - February 24, 2013 -
... Congressional hearings have begun on the most well-known, and according to some experts, most likely to be reformed or eliminated. Among them: charitable deductions, deductions on home mortgage interest, the so called carried interest — the tax break for private equity and hedge fund managers — and limiting tax deductions on corporate profits. Loopholes and tax breaks cost the Treasury more than $1 trillion each year, according to government estimates. Among the biggest losses come from tax breaks for U.S. corporations — $114 billion — the mortgage interest deduction — an estimated $77 billion — and charitable donations — $38 billion. Each of the parties at risk are fighting back. Several charitable groups testified before Congress recently, saying that if their deduction is lowered or eliminated, people will stop giving. The housing industry — most specifically builders — say the mortgage interest deduction is necessary for the housing market to recover from its recession lows. Corporations say their U.S. tax rates are the highest in the world, at 35 percent. Hedge funds and private equity firms say part of their fees are based on risk, and therefore their tax rate — which was just raised with the fiscal cliff deal from 20 to 25 percent — should be treated like an investment instead of a salary, and therefore taxed at a different rate. (Read More: Home Builder Confidence Falls)
Why Do US Taxpayers Give the Big Banks a $83 Billion/Year Subsidy? - AgainstCronyCapitalism.org - Nick Sorrentino - February 22, 2013 - As the attached article explains, the banks deemed “too big to fail” get to borrow money at artificially low rates. Creditors know that if a TBTF bank gets into trouble that bank will always be bailed out by the government (taxpayer.) The TBTF designation, now codified in Dodd-Frank, is an implicit subsidy paid for by We the People. The below article argues that the big banks wouldn’t even be profitable if they did not enjoy the designation of bloated financial whale bombs. Additionally the TBTF subsidy puts smaller banks at a strong competitive disadvantage. Borrowing costs are comparatively higher for non-TBTF Tinytown Community Bank for instance, than for a behemoth like Bank of America. This means that over time more and more money moves from Main Street to the big banks. This is probably not the best thing for the country... (From Bloomberg) - The top five banks — JPMorgan, Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and Goldman Sachs Group Inc. – - account for $64 billion of the total subsidy, an amount roughly equal to their typical annual profits (see tables for data on individual banks). In other words, the banks occupying the commanding heights of the U.S. financial industry — with almost $9 trillion in assets, more than half the size of the U.S. economy — would just about break even in the absence of corporate welfare. In large part, the profits they report are essentially transfers from taxpayers to their shareholders.
Economists Warn Fed Risks Losing Control Amid Budget Deficits - Bloomberg - Joshua Zumbrun - February 22, 2013 - Four economists, including a former Federal Reserve governor who has co-written research with Chairman Ben S. Bernanke, warned that losses from the central bank’s more than $3 trillion balance sheet could lead to the Fed losing control of monetary policy... The conclusion from economists, including Frederic Mishkin, a governor at the central bank from 2006 to 2008 and an academic collaborator with Bernanke before that, will be presented at the U.S. Monetary Policy Forum in New York. Their paper serves as a high-profile warning to an audience including Boston Fed President Eric Rosengren, Fed Governor Jerome Powell and St. Louis Fed President James Bullard. The central bank is currently purchasing $85 billion a month of Treasuries and mortgage-backed securities, following two previous rounds totaling $2.3 trillion, in an effort to lower an unemployment rate stuck near 7.9 percent. Once the economy strengthens, the central bank plans to unwind its balance sheet by raising interest rates and selling many of the assets acquired over the past four years... The conclusion from economists, including Frederic Mishkin, a governor at the central bank from 2006 to 2008 and an academic collaborator with Bernanke before that, will be presented at the U.S. Monetary Policy Forum in New York. Their paper serves as a high-profile warning to an audience including Boston Fed President Eric Rosengren, Fed Governor Jerome Powell and St. Louis Fed President James Bullard. The central bank is currently purchasing $85 billion a month of Treasuries and mortgage-backed securities, following two previous rounds totaling $2.3 trillion, in an effort to lower an unemployment rate stuck near 7.9 percent. Once the economy strengthens, the central bank plans to unwind its balance sheet by raising interest rates and selling many of the assets acquired over the past four years. The economists say that the Fed could incur substantial losses that might occur when U.S. deficits are still high and Congress and the White House have been unable to put fiscal policy on a sustainable trajectory. “This unfavorable fiscal arithmetic might tend to push the Fed toward delaying its exit from the extraordinary easing measures it has taken in recent years; it could even affect decisions this year about how much further to expand the Fed’s holdings of longer-term government securities,” the authors said. “The Fed could cut its effective drain on the Treasury significantly by putting off asset sales and delaying policy rate increases. But such a response would presumably feed rising inflation expectations.”
The Spending Crunch Is Official: "We Are Confident There Is An Issue With The Consumer" - Zero Hedge - Tyler Durden - February 20, 2013 - Think the Walmart "disastrous" sales memo was a one-off event, which net of Walmart's damage should be completely ignored (something the market has been perfectly happy to oblige with)? Then listen to a separate perspective on the US consumer, this time from a very different angle: that of Town Sports International which operates such gyms as New York Sports Club, and specifically its CEO David Gallagher, who in last night's conference call just confirmed what everyone knows: "As we moved into January membership trends were tracking to expectations in the first half of the month, but fell off track and did not meet our expectations in the second half of the month. We believe the driver of this was the rapid decline in consumer sentiment that has been reported and is connected to the reduction in net pay consumers earn given the changes in tax rates that went into effect in January."...
40 Ways That China Is Beating America - The End of the American Dream.com - Michael - February 10th, 2013 - China is wiping the floor with the United States on the global economic stage, and most Americans are so clueless that they have absolutely no idea what is happening. The number one global economic superpower is in an advanced state of decline, and the number two global economic superpower is becoming stronger with each passing day. Unless something truly dramatic happens, it is only a matter of time before China overtakes America and become the dominant economic force on the planet. In fact, China is already exercising economic superiority over the United States in a whole host of ways. China produces more goods than we do, China does more total trade in goods with the rest of the world than we do, China produces more cars than we do, China produces more gold than we do, China consumes more energy than we do, China produces more coal than we do and China produces more steel than we do. Every single year, we buy far more from them than they buy from us, and this has made them exceedingly wealthy. Our politicians regularly make trips over to China to beg them to lend us back some of the money that they have taken from us. Today, we owe China more than a trillion dollars and the Chinese are sitting on the biggest pile of foreign currency reserves that the world has ever seen. All of this wealth has fundamentally transformed the nation of China over the past couple of decades. Just check out the startling photographs of China from space in this article that show how China dramatically changed between 1992 and 2010. As China continues to become stronger and as America continues to become weaker, will our children some day wake up in a world where the Chinese are telling them what to do? China became the number one exporter of goods back in 2009, but now China has reached another milestone on the road to global economic dominance. When you total up all exports of goods and all imports of goods, China now conducts more total trade in goods with the rest of the globe than the United States does. China’s emerging role as the dominant player in global trade is shaking things up all over the planet. The following is a brief excerpt from a recent Bloomberg article…
20 Signs That The U.S. Economy Is Heading For Big Trouble In The Months Ahead - The Economic Collapse.com - Michael - February 20th, 2013 - Is the U.S. economy about to experience a major downturn? Unfortunately, there are a whole bunch of signs that economic activity in the United States is really slowing down right now. Freight volumes and freight expenditures are way down, consumer confidence has declined sharply, major retail chains all over America are closing hundreds of stores, and the "sequester" threatens to give the American people their first significant opportunity to experience what "austerity" tastes like. Gas prices are going up rapidly, corporate insiders are dumping massive amounts of stock and there are high profile corporate bankruptcies in the news almost every single day now. In many ways, what we are going through right now feels very similar to 2008 before the crash happened. Back then the warning signs of economic trouble were very obvious, but our politicians and the mainstream media insisted that everything was just fine, and the stock market was very much detached from reality. When the stock market did finally catch up with reality, it happened very, very rapidly. Sadly, most people do not appear to have learned any lessons from the crisis of 2008. Americans continue to rack up staggering amounts of debt, and Wall Street is more reckless than ever. As a society, we seem to have concluded that 2008 was just a temporary malfunction rather than an indication that our entire system was fundamentally flawed. In the end, we will pay a great price for our overconfidence and our recklessness. So what will the rest of 2013 bring? Hopefully the economy will remain stable for as long as possible, but right now things do not look particularly promising.
The Men Who Built America: Remembering The Gilded Age Part 1 - Zero Hedge - Tyler Durden February 21, 2013 - It is perhaps time to look back at what once was. In Part 1 of the 4 part History Channel series, a new war begins as out of the turmoil of the Civil War, America enters an age of enlightenment that will change the landscape of the country forever. The growth is driven by five insightful men who will change the world forever. John D. Rockefeller, Cornelius Vanderbilt, Andrew Carnegie, Henry Ford and J.P. Morgan rose from obscurity and in the process built modern America. Their names hang on street signs, are etched into buildings and are a part of the fabric of history. These men created the American Dream and were the engine of capitalism as they transformed everything they touched in building the oil, rail, steel, shipping, automobile and finance industries. Their paths crossed repeatedly as they elected presidents, set economic policies and influenced major events of the 50 most formative years this country has ever known. From the Civil War to the Great Depression and World War I, for better or worse, they led the way.
The Men Who Built America: Remembering The Gilded Age Part 2 - Zero Hedge - Tyler Durden - February 24, 2013 - Continuing to look back at what once was. Following Part 1's emergence from the civil war and the age of enlightenment, In Part 2 of the 4 part History Channel series, America continues to recover from the Civil War, undertaking the largest building phase of the country s history. While much of the growth is driven by railroads and oil, it's built using steel. From the Civil War to the Great Depression and World War I, for better or worse; for richer or poorer, in ethical and societal sickness or health; these five men - John D. Rockefeller, Cornelius Vanderbilt, Andrew Carnegie, Henry Ford and J.P. Morgan - led the way.
Futurist Ray Kurzweil with Glenn Beck ~ Artificial Intelligence & Reverse-Engineering the Human Brain
Thursday, February 21, 2013
20130219 - Hickory City Council Video Presentation - Now Includes City's own audio presentation - HOO RAY
The Hound - Now we are up to a 3/4 check on Video Presentations of Council, because they are now putting out the audio of the meeting and the audio is excellent quality. Begs to ask why this wasn't happening 3 or 4 years ago, but they should be congratulated for finally making it to the first decade of the 21st century. Now we need to head on up to 2013 and get this done. It will be to everyone's benefit to do so.
This will give me part of my life back and I am very much appreciative of that. Hoo Ray, Hoo Ray, Hoo Ray. We will get the Newsletter about the City Council meeting out shortly to provide commentary on the proceedings of this meeting.
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