9) We need new and better defined rules about what constitutes Conflicts of Interest and the ability to construct a Citizen Review Board to look into such matters, since there is a Circular Conflict of Interest in the relationship between the City Manager, Staff, and the Council. And the sanctions issue needs to be clearly defined also. The head of the review board would be the acting city Ombudsman and these people will rotate on and off of this board annually.
The City Council inherently receives inside information. What do you think you call the information they receive in closed chamber sessions?
Inside Information isn't necessarily a bad word. It means that you are privy to information that the outside world isn't. Once again this is where transparency comes into play. Conceptual Authoritarian governments believe in absolute control of information. Absolute Control of Information empowers the government over the people and turns people into subjects... Subjected to Authoritarian Power.
Those who control the information in an authoritarian fashion decide who they will disseminate the information to. They pick the winners and the losers. If they like you, or maybe they need your help (or a favor), then they might tell you about a project that hasn't been made public yet. One thing you can guarantee, if they don't like you or you aren't connected to the power structure, then you will be kept out of the loop.
The free flow of information is very important in a free society and this needs to be taken seriously by leaders in a Representative Democracy.
We are constantly told that the message delivered to the outside world is important and needs to be positive; and I agree. The appearance of impropriety sends a message of impropriety and thus sends a very negative message to the public. As the elected leaders of the community, the council are the top hosts of the community. Civilized people are taught that as a host you serve yourself last, after all of the guests have been served. Your job as a host is to make sure that the people you are serving are taken care of, not that they are to take care of you.
Rudy Wright basically said that he and the city council are compelled to vote on all issues and that is the law. He is wrong. If he believes there is a conflict of interest, then he can always recuse or abstain. They cannot force him to vote on an issue. An abstention automatically counts as a yes vote. This has happened before. Other legislative bodies have a provision to allow voting yes, no, or present. That way you have an option other than a yes vote or a no vote. What is wrong with voting present? When council members know
that other members have conflicts, and they sit idle and don't
illuminate such information, then they are accomplices to the conflict.
If you feel compelled to vote... obligated to vote on every issue.. then you are obligated to be transparent about the issue. As an elected official, the voters will pass final judgment and make the final decision, with their vote, about how one votes and whether one has had too many conflicts of interest.
Platform for a 21st Century Hickory - City Funding of Non-Profit Agencies
Platform for a 21st Century Hickory - Better Dialogue with the Public
Platform for a 21st Century Hickory - Public Information
Platform for a 21st Century Hickory - Helping Small Business, Start-ups, and Entrepreneurs
Platform for a 21st Century Hickory - an Agenda on Health and Wellness
Platform for a 21st Century Hickory - Learn from National Studies & Surveys
Platform for a 21st Century Hickory - Independent Boards and Commissions
Platform for a 21st Century Hickory - Term Limits
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Thursday, August 29, 2013
Wednesday, August 28, 2013
Platform for a 21st Century Hickory - City Funding of Non-Profit Agencies
8) Non-Profit Agencies applying for funding from or through the city, utilizing City Resources, whether grants or loans, must be willing to open their books and be subject to an audit (if necessary). Agencies, after a defined period (after start-up), would not be able to receive funding in consecutive years from the city.
We have seen Housing and Urban Developments (HUD) grants consistently go to the same entities without other organizations given due consideration. This happens annually during a city council meeting held in June. These are Federal Government grants that are filtered through the city government and there needs to be more transparency relating to the reasoning involving the allocation of these funds. We need to know who staff didn't recommend as well as who they obviously recommended.
We have also seen allocations directly budgeted and funded from the City of Hickory to the same community organizations annually. The requests for funding take place in February of each year. Essentially, over the years, we have seen that the presentations are the same with plugged in numbers. No one is saying that these entities aren't deserving . We would all just like to hear from all organizations looking for funding and we would like to see the Public-Private funding mechanisms encouraged and expanded.
As has been stated here before. Hickory Inc. should not be in the business of picking winners and losers; choosing favorites based upon relationships and such. If the city is going to participate in the funding of non-profit endeavors, then it must expand its outreach at the same time it ensures that these agencies are not dependent upon the city for their existence.
Platform for a 21st Century Hickory - Better Dialogue with the Public
Platform for a 21st Century Hickory - Public Information
Platform for a 21st Century Hickory - Helping Small Business, Start-ups, and Entrepreneurs
Platform for a 21st Century Hickory - an Agenda on Health and Wellness
Platform for a 21st Century Hickory - Learn from National Studies & Surveys
Platform for a 21st Century Hickory - Independent Boards and Commissions
Platform for a 21st Century Hickory - Term Limits
We have seen Housing and Urban Developments (HUD) grants consistently go to the same entities without other organizations given due consideration. This happens annually during a city council meeting held in June. These are Federal Government grants that are filtered through the city government and there needs to be more transparency relating to the reasoning involving the allocation of these funds. We need to know who staff didn't recommend as well as who they obviously recommended.
We have also seen allocations directly budgeted and funded from the City of Hickory to the same community organizations annually. The requests for funding take place in February of each year. Essentially, over the years, we have seen that the presentations are the same with plugged in numbers. No one is saying that these entities aren't deserving . We would all just like to hear from all organizations looking for funding and we would like to see the Public-Private funding mechanisms encouraged and expanded.
As has been stated here before. Hickory Inc. should not be in the business of picking winners and losers; choosing favorites based upon relationships and such. If the city is going to participate in the funding of non-profit endeavors, then it must expand its outreach at the same time it ensures that these agencies are not dependent upon the city for their existence.
Platform for a 21st Century Hickory - Better Dialogue with the Public
Platform for a 21st Century Hickory - Public Information
Platform for a 21st Century Hickory - Helping Small Business, Start-ups, and Entrepreneurs
Platform for a 21st Century Hickory - an Agenda on Health and Wellness
Platform for a 21st Century Hickory - Learn from National Studies & Surveys
Platform for a 21st Century Hickory - Independent Boards and Commissions
Platform for a 21st Century Hickory - Term Limits
Tuesday, August 27, 2013
Hickory United... Political Heavyweight or a Tempest in a Teapot
The Hickory United Political Action Committee (PAC) announced their endorsements for the upcoming Hickory City Election.
Hank Guess was endorsed by his speechwriter Dr. Glenn Pinckney for the 4th Ward, Farmer's Market Hotdog salesman David Crosby endorsed Hickory Insider David Zagaroli for the 5th Ward, and Former City Councilman and Hickory United Co-Chair Phil Yount endorsed incumbent Jill Patton of the 6th Ward for a third term. Now for the big surprise of the evening... Hickory United failed to endorse any candidate running for Mayor.
Where does this leave us? Hickory United went out on a limb to endorse the incumbent from Ward 4, Sally Fox's handpicked successor for Ward 5, and as if they needed to the unopposed incumbent from Ward 6. That's right, they actually endorsed the unopposed incumbent from Ward 6.
Talk about safe bets... Could there be a more Pro Status Quo ticket than this? I guess it is too much of a gamble to endorse the current three term incumbent Mayor Rudy Wright???
Mr. Mayor are the winds of change a blowin? Is it uncomfortable out there by yourself on that limb?
There were 19 people in the room, 5 people I know personally, and 9 associated with Hickory United. So out of several hundred Robocalls, there were five people who felt compelled enough in what Hickory United had to say to attend this meeting... And there was no known media presence.
Not only is there a lack of support at the top of the ticket. They are supporting personalities for their name and not anything that they stand for. These are the people who have brought us to where we are today. They support and represent the Status Quo and that Status Quo is:
* 30,000+ Job losses over the past decade
* 10%+ Unemployment
* Lowest per Capita income in North Carolina
* A realization that a property tax increase is imminent
* The 5th most miserable place in the nation according to a Gallup-Healthway study.
Let me put this year's elections into some historical context... The United PAC fails to see reality. In this year alone, there are more candidates challenging incumbents than in the previous 10 years combined.
Stay tuned for a groundbreaking announcement coming next week!
Hank Guess was endorsed by his speechwriter Dr. Glenn Pinckney for the 4th Ward, Farmer's Market Hotdog salesman David Crosby endorsed Hickory Insider David Zagaroli for the 5th Ward, and Former City Councilman and Hickory United Co-Chair Phil Yount endorsed incumbent Jill Patton of the 6th Ward for a third term. Now for the big surprise of the evening... Hickory United failed to endorse any candidate running for Mayor.
Where does this leave us? Hickory United went out on a limb to endorse the incumbent from Ward 4, Sally Fox's handpicked successor for Ward 5, and as if they needed to the unopposed incumbent from Ward 6. That's right, they actually endorsed the unopposed incumbent from Ward 6.
Talk about safe bets... Could there be a more Pro Status Quo ticket than this? I guess it is too much of a gamble to endorse the current three term incumbent Mayor Rudy Wright???
Mr. Mayor are the winds of change a blowin? Is it uncomfortable out there by yourself on that limb?
There were 19 people in the room, 5 people I know personally, and 9 associated with Hickory United. So out of several hundred Robocalls, there were five people who felt compelled enough in what Hickory United had to say to attend this meeting... And there was no known media presence.
Not only is there a lack of support at the top of the ticket. They are supporting personalities for their name and not anything that they stand for. These are the people who have brought us to where we are today. They support and represent the Status Quo and that Status Quo is:
* 30,000+ Job losses over the past decade
* 10%+ Unemployment
* Lowest per Capita income in North Carolina
* A realization that a property tax increase is imminent
* The 5th most miserable place in the nation according to a Gallup-Healthway study.
Let me put this year's elections into some historical context... The United PAC fails to see reality. In this year alone, there are more candidates challenging incumbents than in the previous 10 years combined.
Stay tuned for a groundbreaking announcement coming next week!
Sunday, August 25, 2013
You make the call: John Miller and the United PAC
You make the call, is there a Hickory Daily Record/John Miller bias in the upcoming City Election? If this is the policy regarding the upcoming election, then how could the letter from Candidate Hank Guess run in Sunday's Hickory Daily Record:
Hank Guess's Martin Luther King Letter pandering to the African American community - August 25, 2013 in the HDR
Hank who wrote this letter for you?
Mr. Miller care to comment?
Mr. Miller served on the committee that named the structure on Union Square, only a few months after he had been hired as the Editor of the HDR. He was supposed to report on that issue in an unbiased fashion. Was he compromised in his reporting on Sails on the Square issues and subsequently the Referendum on Ward Specific Voting?
He attended at least one No Steps Backwards Coalition meeting (now known as the United PAC) and despite invitations has not attended one Citizens for Equity in Government meeting yet? What's up with John Miller? Will he be at the United PAC meeting this evening?
Prove me Wrong United PAC -- Your candidates will be Mayor Rudy Wright, 4th Ward Hank Guess, 5th Ward David Zagaroli, and like it even matters 6th Ward Jill Patton. Maintaining your interest in the status quo is the goal. Thank You former City Councilman, and Jill Patton's neighbor, Phil Yount. The fix, as usual, is in.
July 24, 2013 - 9:04pm from jmiller@hickoryrecord.com
Here’s the policy for political candidates this election cycle:
The HDR policy for political candidates’ comments during the current election cycle:
1) No letters to the editor by a candidate will be published.
2) One news release provided by a candidate will be published prior to 2013 primary or general election, no more than 500 words.
3) Comments in news stories related to their campaign will be published.
4) A Q&A with the newspaper for each candidate is planned prior the primary and general election.
5) Candidate are free to buy political advertising.
John Miller
HDR Editor
Hank Guess's Martin Luther King Letter pandering to the African American community - August 25, 2013 in the HDR
Continue to fight for what’s right
50 years ago on a hot Washington day, the conscience of America was awakened by the stirring voice of the young Dr. Martin Luther King Jr. Nine years had passed since the Supreme Court had declared that the shackles of Jim Crow must fall away, but still the weight of oppression bore down on African-Americans throughout the nation. Just months earlier Alabama Gov. George Wallace had defiantly sneered, “Segregation now, segregation tomorrow, and segregation forever!” But now this intransigence was forced to come face to face with the eternal wisdom of God’s grace and America’s founding creed.
One is hard pressed to choose a favorite line from King’s eloquent call, but for me it would have to be: “I say to you today, my friends, so even though we face the difficulties of today and tomorrow, I still have a dream. It is a dream deeply rooted in the American dream.” Less than a year after Dr. King’s speech the tide of justice surged when President Johnson signed the Civil Rights Act and dealt a death blow to segregation throughout our nation. One man had stood up and rallied a nation to fulfill both the letter and the spirit of our nation’s founding.
As we well know, the struggle for America to preserve the liberty of all our citizens is a never-ending one.
As the City Council person for Ward 4 it is a cause that I am dedicated to and strive each day to promote. I ask every citizen to join with me in working to ensure that Dr. King’s dream remains a reality for all future generations.
I thank you for the opportunity to serve on the Hickory City Council and I look forward to continuing to work to ensure that Hickory remains a beacon for the foothills and the great state we all love. May God Bless us all.
HANK GUESS
Ward 4, Hickory City Council
Hank who wrote this letter for you?
Mr. Miller care to comment?
Mr. Miller served on the committee that named the structure on Union Square, only a few months after he had been hired as the Editor of the HDR. He was supposed to report on that issue in an unbiased fashion. Was he compromised in his reporting on Sails on the Square issues and subsequently the Referendum on Ward Specific Voting?
He attended at least one No Steps Backwards Coalition meeting (now known as the United PAC) and despite invitations has not attended one Citizens for Equity in Government meeting yet? What's up with John Miller? Will he be at the United PAC meeting this evening?
Prove me Wrong United PAC -- Your candidates will be Mayor Rudy Wright, 4th Ward Hank Guess, 5th Ward David Zagaroli, and like it even matters 6th Ward Jill Patton. Maintaining your interest in the status quo is the goal. Thank You former City Councilman, and Jill Patton's neighbor, Phil Yount. The fix, as usual, is in.
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Commentary on the Hickory Hound
Economic Stories of Relevance in Today's World -- August 25, 2013
We Will Now See Massive Panic Across World Markets - King World News - Michael Pento - August 24, 2013 - While officials from the Federal Reserve gather in Jackson Hole Wyoming this week to bemoan that inflation isn’t yet high enough for their liking, the truth is that inflation is already ravaging the middle class....
To prove my point, the government’s official reading on core CPI inflation (one of the Fed’s preferred metrics that removes food and energy prices) increased just 1.7% from July 2012. So, in the mind of those who control the value of our currency, inflation is well below their target of 2%; and therefore needs to be increased.
Nevertheless, let’s try another, more real-world way of calculating the data. The labor department correctly judges that prices paid for shelter should be a significant proportion of the core CPI calculation (about a 40% weighting). According to the Labor Department, prices for shelter increased only 2.3% from July of last year.
However, according to the National Association of Realtors, existing home prices surged 13.7% year-over-year. And according to the Commerce Department, new home prices jumped 8.5% year-over-year. If you include the increase in the other items in core CPI ex-housing (up 1.2% year-over-year), a more accurate measurement of core CPI can be achieved. Consumer prices would be up 5.1% from the year ago period -- assuming you simply average the cost of purchasing a new home with that of an existing home.
In reality, existing home purchases exceed the number of new home sales and would therefore increase the core rate reading. The difference between the government’s data and what is collected from private sources is that the Bureau of Labor Statistics measures the imputed rental value of homes, instead of actual increases in what consumers have to pay for real estate.
A core rate of inflation that is rising north of 5% year-over-year should send shivers down the spines of those at the Fed, and consumers alike. However, amazingly Mr. Bernanke is still debating if a $3.6 trillion Fed balance sheet and the $85 billion worth of new credit creation each month is doing enough damage to the value of the dollar. The Fed’s inflation is especially painful to the middle class, due to the fact that real median incomes have fallen 6.1% since the start of the Great Recession, which began in December 2007.
Our economy is so addicted to money printing that the Fed can’t agree on when, or even if, it should reduce the level of its asset purchases. Mr. Bernanke’s confusion over monetary policy is evident, despite the fact that he has built up a stock, bond and real estate bubble. This trifecta of asset bubbles exists concurrently for the first time in American history.
Our central bank will soon have to decide whether or not it will continue allowing these bubbles to grow to a more dangerous level (intractable inflation); or to start selling trillions of dollars worth of bonds and send interest rates soaring. We have already witnessed what a mere one percent increase in mortgage rates did to new home sales (down 13.4% in July, the lowest level in 9 months). This occurred without the Fed tapering its purchases of MBS and Treasuries by even one dollar. Just imagine what will happen to interest rates when the Fed not only stops buying that debt; but also starts unloading its balance sheet.
____________________________________________________________________________________________________________________
Jobless picture is worse than you think: Gallup - CNBC - August 22, 2013 - While Gallup's numbers have offered significant divergences from the Bureau of Labor Statistics data, the two numbers had been running fairly close for most of the year. In fact, Gallup's tally actually briefly slipped below the government's in April when it recorded 7.4 percent, compared to the BLS number then of 7.5 percent. Since reaching that April bottom, though, Gallup's numbers have surged and tracked above 8 percent for August, reaching their highest level since hitting 8.7 percent in mid-March 2012. The trend comes at a ticklish time for the economy. The Federal Reserve is contemplating an exit from its quantitative easing program in which it buys $85 billion a month in Treasurys and mortgage-backed securities. Central bank policymakers have tied the potential QE pullback to an unemployment rate—as recorded by the BLS—in the 7 percent range, while 6.5 percent would be the minimum hurdle before the Fed would start raising its target interest rate again. While Gallup's numbers can be volatile, they have portended rises in the official rate. The data set is limited, but in previous occasions when the divergence was more than 1 percentage point "the BLS unemployment rate was flat to up over the next three months," Bespoke Investment Group said. To be sure, there are major caveats. The Gallup numbers are not seasonally adjusted, and surveying methodologies differ substantially. "The BLS method is statistically more rigorous. With the Gallup, you're basically doing a poll," said Jacob Oubina, senior economist at RBC Capital Markets. "The Gallup is more of a sentiment-type indicator. Either way, the unemployment rate doesn't really give you a good indicator of the true state of the labor backdrop." Instead, Oubina recommends focusing on the employment-to-population ratio. The news doesn't get any better there, though. The government puts that number at 58.7 percent, a level from which it has deviated little over the past four years since the end of the financial crisis and Great Recession. According to Gallup, that measure is 43.8 percent, plunging over the years from 63.5 percent in January 2010. It's not known whether the Fed is paying attention to what Gallup's polling shows. If it is, the discussions at the September Open Markets Committee meeting over tapering QE could take on a different tone. "The employment-to-population ratio is basically bumping along the lows of the cycle," Oubina said. "We definitely still have a long way to go."
Gallup: Unemployment Rate Jumps from 7.7% to 8.9% In 30 Days - Breitbart - John Nolte - August 21, 2013 - Outside of the federal government's Bureau of Labor statistics, the Gallup polling organization also tracks the nation's unemployment rate. While the BLS and Gallup findings might not always perfectly align, the trends almost always do and the small statistical differences just haven't been worthy of note. But now Gallup is showing a sizable 30 day jump in the unemployment rate, from 7.7% on July 21 to 8.9% today. This is an 18-month high. At the end of July, the BLS showed a 7.4% unemployment rate, compared to Gallup's 7.8%. Again, a difference not worthy of note. But Gallup's upward trend to almost 9% in just the last three weeks is alarming, especially because this is not a poll with a history of wild swings due to statistical anomalies. Gallup's sample size is a massive 30,000 adults and the rolling average is taken over a full 30 day period. Gallup also shows an alarming increase in the number of underemployed (those with some work seeking more). During the same 30-day period, that number has jumped from 17.1% to 17.9%.
Obamacare, tepid US growth fuel part-time hiring - Reuters through CNBC - August 21, 2013
The end of the dollar store recovery - CNN Money - Nin-Hai Tseng - August 23, 2013 - Dollar stores were one of the few bright spots in U.S. retail during the Great Recession as cash-strapped consumers looked to do more with less. And while many are still going to these discounters for bargains, they're also buying less. On Thursday, Dollar Tree (DLTR) reported that its second-quarter profit rose 4.6% from a year earlier -- its stock jumped after the discount retailer raised its forecast for the rest of the year, but profits reflected a relatively modest increase for a company that saw double-digit earnings growth for the past five years. This follows as other dollar stores saw sales slow down from their rapid rise during the recession. The discounters are still generally pleasing Wall Street, but they acknowledge that shoppers are being more cautious about spending. In July, earnings for Family Dollar (FDO) topped analysts expectations, but Chairman CEO Howard Levin warned consumers are cautious about their spending, adding that while sales of items like food and beauty products did well, sales of discretionary items (wants vs. needs) continued to slow. Similarly, Dollar General (DG) noted many consumers had less to spend.
Why the new homes plunge doesn't tell the full story - CNBC - August 23, 2013 - Don't let the sharp plunge in new home sales mislead you: it's a tale of two housing markets, says one investor. "What we're learning about the housing market over here is that it's really bifurcated in that you have a lot of private-equity type money and more leveraged-type money buying up some of the older houses that have been in foreclosure, short sales," said Yra Harris, partner at Praxis Trading. This sizable investment has propped up sales of existing homes in the U.S. to their highest level in more than three years. But homes fresh to the market aren't faring nearly as well, new data showed on Friday, casting a shadow over the country's housing recovery.
"The new housing market where they're not as involved is showing a different pattern," Harris said.
New home sales drop - Sales of new single-family homes in the United States fell sharply in July to their lowest level in nine months. They dropped 13.4 percent to an annual rate of 394,000 units, the Commerce Department said on Friday. While government housing data is often subject to large revisions, the reading was well below expectations and could be a sign that a recent surge in mortgage rates is weighing on the economy. The data could weaken the case for the U.S. Federal Reserve to reduce its support for the economy by the end of the year. It also casts doubt on Wall Street expectations that the Fed will begin reducing monthly bond purchases next month.
Bee-killing pesticide found in garden store plants: What does it mean? - NBC - Alan Boyle - August 14, 2013 -A type of pesticide that's a focal point in the controversy over endangered honeybees has turned up in garden-store plants sampled by Friends of the Earth. Other bee experts say the pilot study on neonicotinoids adds an important twist to the plight of the bees — but stress that more rigorous research needs to be done. The study, co-authored with the Pesticide Research Institute and titled "Gardeners Beware," reported finding traces of neonicotinoid pesticides, or neonics, in seven of 13 plants purchased from garden stores in California's San Francisco Bay area; the Washington, D.C. area; and Minnesota's Twin Cities. The plants included tomatoes, squash, salvia and flowers that would be attractive to pollinators. “Our investigation is the first to show that so called 'bee-friendly' garden plants contain pesticides that can actually poison bees, with no warning to gardeners," Lisa Archer, director of the Food and Technology Program at Friends of the Earth-US, said in a news release accompanying Wednesday's 34-page report. “Bees are essential to our food system and they are dying at alarming rates. Neonic pesticides are a key part of the problem we can start to fix right now in our own backyards."
Friends of the Earth kicked off a "BeeAction" campaign to draw attention to the pesticide issue. It said petitions bearing more than 175,000 signatures were delivered to Lowe's, Home Depot, Target and other garden retailers, asking the stores to stop selling neonicotinoids and plants pre-treated with the pesticides...
Daily World Climate News
To prove my point, the government’s official reading on core CPI inflation (one of the Fed’s preferred metrics that removes food and energy prices) increased just 1.7% from July 2012. So, in the mind of those who control the value of our currency, inflation is well below their target of 2%; and therefore needs to be increased.
Nevertheless, let’s try another, more real-world way of calculating the data. The labor department correctly judges that prices paid for shelter should be a significant proportion of the core CPI calculation (about a 40% weighting). According to the Labor Department, prices for shelter increased only 2.3% from July of last year.
However, according to the National Association of Realtors, existing home prices surged 13.7% year-over-year. And according to the Commerce Department, new home prices jumped 8.5% year-over-year. If you include the increase in the other items in core CPI ex-housing (up 1.2% year-over-year), a more accurate measurement of core CPI can be achieved. Consumer prices would be up 5.1% from the year ago period -- assuming you simply average the cost of purchasing a new home with that of an existing home.
In reality, existing home purchases exceed the number of new home sales and would therefore increase the core rate reading. The difference between the government’s data and what is collected from private sources is that the Bureau of Labor Statistics measures the imputed rental value of homes, instead of actual increases in what consumers have to pay for real estate.
A core rate of inflation that is rising north of 5% year-over-year should send shivers down the spines of those at the Fed, and consumers alike. However, amazingly Mr. Bernanke is still debating if a $3.6 trillion Fed balance sheet and the $85 billion worth of new credit creation each month is doing enough damage to the value of the dollar. The Fed’s inflation is especially painful to the middle class, due to the fact that real median incomes have fallen 6.1% since the start of the Great Recession, which began in December 2007.
Our economy is so addicted to money printing that the Fed can’t agree on when, or even if, it should reduce the level of its asset purchases. Mr. Bernanke’s confusion over monetary policy is evident, despite the fact that he has built up a stock, bond and real estate bubble. This trifecta of asset bubbles exists concurrently for the first time in American history.
Our central bank will soon have to decide whether or not it will continue allowing these bubbles to grow to a more dangerous level (intractable inflation); or to start selling trillions of dollars worth of bonds and send interest rates soaring. We have already witnessed what a mere one percent increase in mortgage rates did to new home sales (down 13.4% in July, the lowest level in 9 months). This occurred without the Fed tapering its purchases of MBS and Treasuries by even one dollar. Just imagine what will happen to interest rates when the Fed not only stops buying that debt; but also starts unloading its balance sheet.
____________________________________________________________________________________________________________________
Jobless picture is worse than you think: Gallup - CNBC - August 22, 2013 - While Gallup's numbers have offered significant divergences from the Bureau of Labor Statistics data, the two numbers had been running fairly close for most of the year. In fact, Gallup's tally actually briefly slipped below the government's in April when it recorded 7.4 percent, compared to the BLS number then of 7.5 percent. Since reaching that April bottom, though, Gallup's numbers have surged and tracked above 8 percent for August, reaching their highest level since hitting 8.7 percent in mid-March 2012. The trend comes at a ticklish time for the economy. The Federal Reserve is contemplating an exit from its quantitative easing program in which it buys $85 billion a month in Treasurys and mortgage-backed securities. Central bank policymakers have tied the potential QE pullback to an unemployment rate—as recorded by the BLS—in the 7 percent range, while 6.5 percent would be the minimum hurdle before the Fed would start raising its target interest rate again. While Gallup's numbers can be volatile, they have portended rises in the official rate. The data set is limited, but in previous occasions when the divergence was more than 1 percentage point "the BLS unemployment rate was flat to up over the next three months," Bespoke Investment Group said. To be sure, there are major caveats. The Gallup numbers are not seasonally adjusted, and surveying methodologies differ substantially. "The BLS method is statistically more rigorous. With the Gallup, you're basically doing a poll," said Jacob Oubina, senior economist at RBC Capital Markets. "The Gallup is more of a sentiment-type indicator. Either way, the unemployment rate doesn't really give you a good indicator of the true state of the labor backdrop." Instead, Oubina recommends focusing on the employment-to-population ratio. The news doesn't get any better there, though. The government puts that number at 58.7 percent, a level from which it has deviated little over the past four years since the end of the financial crisis and Great Recession. According to Gallup, that measure is 43.8 percent, plunging over the years from 63.5 percent in January 2010. It's not known whether the Fed is paying attention to what Gallup's polling shows. If it is, the discussions at the September Open Markets Committee meeting over tapering QE could take on a different tone. "The employment-to-population ratio is basically bumping along the lows of the cycle," Oubina said. "We definitely still have a long way to go."
Gallup: Unemployment Rate Jumps from 7.7% to 8.9% In 30 Days - Breitbart - John Nolte - August 21, 2013 - Outside of the federal government's Bureau of Labor statistics, the Gallup polling organization also tracks the nation's unemployment rate. While the BLS and Gallup findings might not always perfectly align, the trends almost always do and the small statistical differences just haven't been worthy of note. But now Gallup is showing a sizable 30 day jump in the unemployment rate, from 7.7% on July 21 to 8.9% today. This is an 18-month high. At the end of July, the BLS showed a 7.4% unemployment rate, compared to Gallup's 7.8%. Again, a difference not worthy of note. But Gallup's upward trend to almost 9% in just the last three weeks is alarming, especially because this is not a poll with a history of wild swings due to statistical anomalies. Gallup's sample size is a massive 30,000 adults and the rolling average is taken over a full 30 day period. Gallup also shows an alarming increase in the number of underemployed (those with some work seeking more). During the same 30-day period, that number has jumped from 17.1% to 17.9%.
Obamacare, tepid US growth fuel part-time hiring - Reuters through CNBC - August 21, 2013
The end of the dollar store recovery - CNN Money - Nin-Hai Tseng - August 23, 2013 - Dollar stores were one of the few bright spots in U.S. retail during the Great Recession as cash-strapped consumers looked to do more with less. And while many are still going to these discounters for bargains, they're also buying less. On Thursday, Dollar Tree (DLTR) reported that its second-quarter profit rose 4.6% from a year earlier -- its stock jumped after the discount retailer raised its forecast for the rest of the year, but profits reflected a relatively modest increase for a company that saw double-digit earnings growth for the past five years. This follows as other dollar stores saw sales slow down from their rapid rise during the recession. The discounters are still generally pleasing Wall Street, but they acknowledge that shoppers are being more cautious about spending. In July, earnings for Family Dollar (FDO) topped analysts expectations, but Chairman CEO Howard Levin warned consumers are cautious about their spending, adding that while sales of items like food and beauty products did well, sales of discretionary items (wants vs. needs) continued to slow. Similarly, Dollar General (DG) noted many consumers had less to spend.
Why the new homes plunge doesn't tell the full story - CNBC - August 23, 2013 - Don't let the sharp plunge in new home sales mislead you: it's a tale of two housing markets, says one investor. "What we're learning about the housing market over here is that it's really bifurcated in that you have a lot of private-equity type money and more leveraged-type money buying up some of the older houses that have been in foreclosure, short sales," said Yra Harris, partner at Praxis Trading. This sizable investment has propped up sales of existing homes in the U.S. to their highest level in more than three years. But homes fresh to the market aren't faring nearly as well, new data showed on Friday, casting a shadow over the country's housing recovery.
"The new housing market where they're not as involved is showing a different pattern," Harris said.
New home sales drop - Sales of new single-family homes in the United States fell sharply in July to their lowest level in nine months. They dropped 13.4 percent to an annual rate of 394,000 units, the Commerce Department said on Friday. While government housing data is often subject to large revisions, the reading was well below expectations and could be a sign that a recent surge in mortgage rates is weighing on the economy. The data could weaken the case for the U.S. Federal Reserve to reduce its support for the economy by the end of the year. It also casts doubt on Wall Street expectations that the Fed will begin reducing monthly bond purchases next month.
Bee-killing pesticide found in garden store plants: What does it mean? - NBC - Alan Boyle - August 14, 2013 -A type of pesticide that's a focal point in the controversy over endangered honeybees has turned up in garden-store plants sampled by Friends of the Earth. Other bee experts say the pilot study on neonicotinoids adds an important twist to the plight of the bees — but stress that more rigorous research needs to be done. The study, co-authored with the Pesticide Research Institute and titled "Gardeners Beware," reported finding traces of neonicotinoid pesticides, or neonics, in seven of 13 plants purchased from garden stores in California's San Francisco Bay area; the Washington, D.C. area; and Minnesota's Twin Cities. The plants included tomatoes, squash, salvia and flowers that would be attractive to pollinators. “Our investigation is the first to show that so called 'bee-friendly' garden plants contain pesticides that can actually poison bees, with no warning to gardeners," Lisa Archer, director of the Food and Technology Program at Friends of the Earth-US, said in a news release accompanying Wednesday's 34-page report. “Bees are essential to our food system and they are dying at alarming rates. Neonic pesticides are a key part of the problem we can start to fix right now in our own backyards."
Friends of the Earth kicked off a "BeeAction" campaign to draw attention to the pesticide issue. It said petitions bearing more than 175,000 signatures were delivered to Lowe's, Home Depot, Target and other garden retailers, asking the stores to stop selling neonicotinoids and plants pre-treated with the pesticides...
Daily World Climate News
Labels:
Economic Relevance
Saturday, August 24, 2013
Protesting is the American way.
I saw people are protesting Obama at overpasses with "Impeach Obama" signs. A couple of guys were arrested last weekend at an overpass in Missouri. They basically had their First Amendment rights impeded upon and the police said that it was a failure to obey orders. If the police are violating your Constitutional rights, and you are breaking no valid law, then you have every right to express yourself and anything they say or do is superseded by your Constitutional rights. If they order you to go jump off a building, you don't have to.
And by the same token I have seen people associated with the right of the Republican Party here in North Carolina getting beyond upset over the people on the left of the Democrat Party protesting through what they call "Moral Mondays" and thinking that government officials should forcibly put a stop to it.
The Moral Monday Protesters - Civitas - Database
Art Pope-funded group launches database targeting Moral Monday arrestees - Facing South
Protesting is the American way. I don't necessarily agree that these protests are effective, but I do believe in these people's right to protest. Expressing oneself about issues one is passionate about is a healthy exercise in Democracy. Freedom of expression is one of the founding principles of this nation and yet we see every side of the political spectrum, especially those in power, aiming to shut those that they disagree with down. We see people on the left wanting to see people on the right arrested and people on the right wanting to see people on the left arrested. Would you want to be arrested for lawfully protesting what you oppose?
We should be tolerant of one another and do more listening. In the above examples we see that this authoritarian desire to control others and suppress expression has become all to prevalent in our modern culture. In my opinion, the final outcome of shutting people down if those in power do not agree with them takes us to a very bad place.
And by the same token I have seen people associated with the right of the Republican Party here in North Carolina getting beyond upset over the people on the left of the Democrat Party protesting through what they call "Moral Mondays" and thinking that government officials should forcibly put a stop to it.
The Moral Monday Protesters - Civitas - Database
Art Pope-funded group launches database targeting Moral Monday arrestees - Facing South
Protesting is the American way. I don't necessarily agree that these protests are effective, but I do believe in these people's right to protest. Expressing oneself about issues one is passionate about is a healthy exercise in Democracy. Freedom of expression is one of the founding principles of this nation and yet we see every side of the political spectrum, especially those in power, aiming to shut those that they disagree with down. We see people on the left wanting to see people on the right arrested and people on the right wanting to see people on the left arrested. Would you want to be arrested for lawfully protesting what you oppose?
We should be tolerant of one another and do more listening. In the above examples we see that this authoritarian desire to control others and suppress expression has become all to prevalent in our modern culture. In my opinion, the final outcome of shutting people down if those in power do not agree with them takes us to a very bad place.
Labels:
Commentary on the Hickory Hound
Friday, August 23, 2013
Newsletter about the City Council meeting of August 20, 2013
` I began recording the City Council late last year, because of my desire that the City do it on their own as any modern 21st century community began doing long ago. I had people tell me that they couldn't make it to the meetings, but they would like to see what is going on. I was also told by some council members that my summaries did not truly reflect the record, so having a video/audio recording cannot be misinterpreted.
So below is the City Council meeting. Beside each agenda item, you will see the minute:second. You can drag the marker on the video display to the point in the broadcast that you are interested in seeing.
Due to a technical difficulty the Video starts at the 5:49 mark
Agenda about the City Council meeting of August 20, 2013
Special Presentations
A. (2:30) Presentation of the Carolina Cycle Challenge by Mandy Pitts and John Link
* Carolina Cycle Challenge Website
Hound: (Brett's father responds to this in the comment section. I did not mean to say that the bike ride that Vicar Powell created at Mt. Olive was Brett's Ride or she had anything to do with it. Sorry if I caused a misunderstanding in my writing. My point was in my personal disappointment about Brett's name being taken off of the ride.
It is a shame to me that this bike ride will no longer be known as Brett's Ride. The origins of a bike ride were at my church, Mount Olive Lutheran. Vicar Vickie Powell (now Reverend) back in 1999 helped to create a bike ride as part of her mission. Each Vicar has to fulfill a mission during the year they spend with us before heading back to the Lutheran Theological Southern Seminary in Columbia, South Carolina. Brett was a teenager and participated in it and like the many young people at Mt. Olive he really enjoyed it. Brett's Grandfather Walter Hitchcock was a Pastor at Mount Olive for 24 years.
We had the Bike Ride at Mount Olive for a few years. When Brett faced his battle with cancer, he was asked what he wanted to do and this Bike Ride was part of his mission. He was a brave young man and an inspiration to all who face the ultimate adversity. He had so many friends. My cousin's were his age and knew him very well. His name needs to always be synonymous with this bike ride.
(In the comments section, Brett's father explains the origins of the bike ride and why they decided to take Brett's name off of the Bicycling event. Thank You for the information Mr. Gosnell. Sorry for having some of this wrong.)
Mr. Gosnell comment,
"Brett’s family preferred that his name not be associated with the new ride. We believe that the new event would be better served developing their “brand.” Quite frankly, many members of the Brett’s Ride committee, including Brett’s family, were exhausted after nine years of planning and organizing the event. Since none of Brett’s family planned to be involved with the new ride and Brett wasn’t around to approve the use of his name, we felt it was better that they give the event another name.
Brett’s family, as well as the Brett’s Ride Committee, strongly supports the Carolina Cycle Challenge. We are honored that the Rotary clubs and the City of Hickory decided to continue an annual cycling event. I am very much looking forward to riding in the coming event – something I was never able to do at Brett’s Ride."
B. (10:15) Business Well Crafted Award: Lenoir-Rhyne University by Alan Jackson and Lenoir-Rhyne University President Wayne Powell
Hound: Lenoir - Rhyne is a vital part of this community. It is also "THE" Lutheran University here is the mid atlantic region. So many of us have a connection with family members, friends, and associates who received their formal education at LR. They do deserve recognition for their work in the community.
* Lenoir-Rhyne a "Business. Well Crafted." - Hickory Inc. Statement
* Business Well Crafted - Lenoir Rhyne Web Page
C. (19:20) Announcement of a Community Gift to the City by Andrea Surratt, Robert Lackey, and Robert Lackey Jr.
* Hickory Inc. statement on this gift of property development at Geitner Park
* Deidra Templeton Lackey obituary from December 2011
* Donation to expand Geitner-Rotary Park announced at Hickory City Council meeting - Hickory Daily Record - John Tinkelenberg - August 20, 2013
Hound: This is an amazing gift and legacy provided by the Lackie family to the people of Hickory. And it would be wonderful if other's could/would be generous in such a fashion related to benevolent endeavors in the community going forward.
Persons Requesting to Be Heard
A. (43:00) Cliff Moone thanked City Staff Attorney for providing some information about the City's Video Recording of Council meetings that he had requested.
New Business - Public Hearings
1. (44:45) Voluntary Satellite Annexation of Property Located at 1076 Fox Chase Drive containing .42 acres.
New Business - Departmental Reports:
1. (49:50) Vacant Building Revitalization and Demolition Grant Agreement for ZLoop Knitting Mill, LLC.
Hound Comment on the meeting
Wonderful coincidence that what I have mentioned as part of the 21st Century Hickory Platform was incorporated into this meeting. John Link talks about Fitness Well Crafted, where I have mentioned Dr. Jody Inglefield's Wellness Well Crafted. It is more than words folks. It is actions. And the City Inc. has nothing to do with this bike ride other than providing some police officers to monitor it and propaganda.
Then we have the mention by Alan Jackson of Microlending. Microlending came from Harry Hipps campaign four years ago. And we have seen the actions taken upon this subsequently - none. Joe Brannock is taking up this cause along with Dr. Inglefield. As a person who has a finance background it is something I truly believe in and that is probably the reason why it hasn't seen the light of day. Mayor Wright and Mick Berry are smothering the opportunity. The BDC can talk about it all day long, but talk is cheap. We need people that can help them facilitate such endeavors.
So below is the City Council meeting. Beside each agenda item, you will see the minute:second. You can drag the marker on the video display to the point in the broadcast that you are interested in seeing.
Due to a technical difficulty the Video starts at the 5:49 mark
Agenda about the City Council meeting of August 20, 2013
Special Presentations
A. (2:30) Presentation of the Carolina Cycle Challenge by Mandy Pitts and John Link
* Carolina Cycle Challenge Website
Hound: (Brett's father responds to this in the comment section. I did not mean to say that the bike ride that Vicar Powell created at Mt. Olive was Brett's Ride or she had anything to do with it. Sorry if I caused a misunderstanding in my writing. My point was in my personal disappointment about Brett's name being taken off of the ride.
It is a shame to me that this bike ride will no longer be known as Brett's Ride. The origins of a bike ride were at my church, Mount Olive Lutheran. Vicar Vickie Powell (now Reverend) back in 1999 helped to create a bike ride as part of her mission. Each Vicar has to fulfill a mission during the year they spend with us before heading back to the Lutheran Theological Southern Seminary in Columbia, South Carolina. Brett was a teenager and participated in it and like the many young people at Mt. Olive he really enjoyed it. Brett's Grandfather Walter Hitchcock was a Pastor at Mount Olive for 24 years.
We had the Bike Ride at Mount Olive for a few years. When Brett faced his battle with cancer, he was asked what he wanted to do and this Bike Ride was part of his mission. He was a brave young man and an inspiration to all who face the ultimate adversity. He had so many friends. My cousin's were his age and knew him very well. His name needs to always be synonymous with this bike ride.
(In the comments section, Brett's father explains the origins of the bike ride and why they decided to take Brett's name off of the Bicycling event. Thank You for the information Mr. Gosnell. Sorry for having some of this wrong.)
Mr. Gosnell comment,
"Brett’s family preferred that his name not be associated with the new ride. We believe that the new event would be better served developing their “brand.” Quite frankly, many members of the Brett’s Ride committee, including Brett’s family, were exhausted after nine years of planning and organizing the event. Since none of Brett’s family planned to be involved with the new ride and Brett wasn’t around to approve the use of his name, we felt it was better that they give the event another name.
Brett’s family, as well as the Brett’s Ride Committee, strongly supports the Carolina Cycle Challenge. We are honored that the Rotary clubs and the City of Hickory decided to continue an annual cycling event. I am very much looking forward to riding in the coming event – something I was never able to do at Brett’s Ride."
B. (10:15) Business Well Crafted Award: Lenoir-Rhyne University by Alan Jackson and Lenoir-Rhyne University President Wayne Powell
Hound: Lenoir - Rhyne is a vital part of this community. It is also "THE" Lutheran University here is the mid atlantic region. So many of us have a connection with family members, friends, and associates who received their formal education at LR. They do deserve recognition for their work in the community.
* Lenoir-Rhyne a "Business. Well Crafted." - Hickory Inc. Statement
* Business Well Crafted - Lenoir Rhyne Web Page
C. (19:20) Announcement of a Community Gift to the City by Andrea Surratt, Robert Lackey, and Robert Lackey Jr.
* Hickory Inc. statement on this gift of property development at Geitner Park
* Deidra Templeton Lackey obituary from December 2011
* Donation to expand Geitner-Rotary Park announced at Hickory City Council meeting - Hickory Daily Record - John Tinkelenberg - August 20, 2013
Hound: This is an amazing gift and legacy provided by the Lackie family to the people of Hickory. And it would be wonderful if other's could/would be generous in such a fashion related to benevolent endeavors in the community going forward.
Persons Requesting to Be Heard
A. (43:00) Cliff Moone thanked City Staff Attorney for providing some information about the City's Video Recording of Council meetings that he had requested.
New Business - Public Hearings
1. (44:45) Voluntary Satellite Annexation of Property Located at 1076 Fox Chase Drive containing .42 acres.
New Business - Departmental Reports:
1. (49:50) Vacant Building Revitalization and Demolition Grant Agreement for ZLoop Knitting Mill, LLC.
Hound Comment on the meeting
Wonderful coincidence that what I have mentioned as part of the 21st Century Hickory Platform was incorporated into this meeting. John Link talks about Fitness Well Crafted, where I have mentioned Dr. Jody Inglefield's Wellness Well Crafted. It is more than words folks. It is actions. And the City Inc. has nothing to do with this bike ride other than providing some police officers to monitor it and propaganda.
Then we have the mention by Alan Jackson of Microlending. Microlending came from Harry Hipps campaign four years ago. And we have seen the actions taken upon this subsequently - none. Joe Brannock is taking up this cause along with Dr. Inglefield. As a person who has a finance background it is something I truly believe in and that is probably the reason why it hasn't seen the light of day. Mayor Wright and Mick Berry are smothering the opportunity. The BDC can talk about it all day long, but talk is cheap. We need people that can help them facilitate such endeavors.
Labels:
Hickory City Meetings
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