US economic crisis - credit crunch default crisis and 3-dimensional economic modeling from science - GDP numbers are faulty
GDP numbers are faulty. They were never intended to nor accounted for a credit based application. Their integrity is not valid to use for anything.
There is no factorization nor accommodation for the “propped up” unrealistic value of credit underlying its foundations.
Any model using the GDP or ADP is going to also be faulty.
In order to get an accurate representation that can depict the current situation and aid in evaluating various possibilities of corrections that can be made or influences that can be brought to bear on it, the numbers available around the world about element normally used to tally the GDP would need to be input directly.
This means without utilizing the accepted GDP or ADP in any way for the models.
The last post I made, includes a dimensional flux model that can accurately depict the complexity and current dynamics of the US economy - macro economy and global economy. This can be used to understand what pull or tug, here or there, would cause and what would be impacted in real time and projections.
This macro-economic modeling process and equations are found here and through its creators:
http://topics.scirus.com/The_Macroeconomic_Graphical_Sensor_System_MGS_System.html
Written by Cricket Diane C “Sparky” Phillips, 10-10-08, USA
This 3-Dimensional Macro-economic model can forecast current US economic and global crisis 2008 - Can show how inputs will affect markets including credit default swaps and bailouts - US economic crisis
Last updated: 27 June 2008
| Category: | Economics, Econometrics and Finance > Economics, Econometrics and Finance (miscellaneous) |
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Dr Mario Arturo Ruiz Estrada |
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This research paper is interested to propose an alternative Multi-Dimensional (MD) graphical computational system to observe or simulate different macroeconomic scenarios simultaneously in real-time or live. It is called “The Macroeconomic Graphical Sensor System (MGS-System)”. Therefore, the construction of this Multi-Dimensional graphical computational system is based on the application of Econographicology (Ruiz, 2007) and Database analysis.
2. INTRODUCTION
The basic idea to build the MGS-System is to show a set of Multi-Dimensional graphs, at the same time, these Multi-Dimensional graphs are moving constantly in real-time or live. If some of these Multi-Dimensional graphs show an erratic behavior, then the MGS-System start to alert immediately about possible failure(s) in some or all macroeconomic scenarios in the same graphical space. The failure(s) location depends on the Multi-Dimensional graph position into its physical space coordinate system respectively. If the MGS-System find some or many failure(s) in the Multi-Dimensional graph, then the MGS-System start to take action(s) to search possible solutions (or economic policies) to solve some or many failure(s) simultaneously. These solutions (or economic policies) are originated from a large number of database. To find the possible solutions (or economic policies) to solve some or many failure(s), it is depend on the serial of parameters that we are established in each axis on the Multi-Dimensional physical space coordinate system respectively.Hence, the selection of possible solution(s) (or economic policies) depend on the Multi-dimensional graph position. The final solution(s) is selected according to less risk or less vulnerable economic impact among a large number of possible solutions. Moreover, this research paper has three specific objectives follow by:
The first specific objective in this research paper is the application of a basic form of Database analysis based on the application of a default random process. The default random process will choose the best solution(s) (or economic policy) into a large Database from successful economic models, theoretical frameworks and econometric models and simulations applied on economics. It is based on the parameters are established into each axis in the Multi-Dimensional physical space coordinate system.
The second specific objective is the application of Econographicology, it is offer a new types of graphs under the application of physical spaces are presented: Pyramid Physical Space, Diamond Physical Space, Multi-Dimensional Physical Space, Infinity Physical Space, and Multi-Pictorial Physical Space (Ruiz, 2008). These graphs and Physical Spaces are constructed based on the traditional 3-Dimensional space concept, but they represent 4-D, 5-D, 8-D, 9-D and Infinity-Dimension. The multiple-dimensional representations are to facilitate easy understanding of economic phenomena from a general view.
Finally, this research will to show a flow chat to explain the construction and implementation of the Macroeconomic Graphical Sensor System (MGS-System). The idea to build the MGS-System is to offer an alternative technical tool to policy makers, academics, international institutions to obtain a serial of possible solutions to solve economic problems.
3. THE MGS-SYSTEM THEORETICAL FRAMEWORK
- Ruiz Estrada, M. 2007. “Econographicology”, International Journal of Economic Research ( IJER), Serial Publications, Vol. 4, No.1, pp. 93-104. (Link->)
- Ruiz Estrada, M. 2008. “Econographicology”, E-Monograph, University of Malaya ( UM), Faculty of Economics and Administration (FEA). Layout by CyDesign Co. pp. 1-240. (Link->)
America aristocracy, socialism, communism and wealth of arrogance leading us into hell
A Right or a Privilege?
“The person who states this always assumes themselves on the advantage side of this equation.”
Since the first time I heard this argument used for something in the United States, I knew it was wrong. Its premise is wrong and its basis is anti-American, anti-Constitutional and against everything the United States has as its basis.
Privilege is a concept of social order, caste systems and aristocracy. It is occasionally social elitism and academic or intellectual elitist by use historically. It is also found in numerous writings of socialism and Marxist doctrines. It is the antithesis of America’s premise.
Rights as defined in this argument, “is it a right or a privilege” is also Marxist, Taoist, Communist and socialism in its truest sense. Its concept of “right” of the people is corrupted by the tyranny of those who would judge it, offer it, control it, manage it and insure it done.
In a land of freedom and individual rights as the US is founded - it is both right and privilege, yet neither one is the basis by which we guide our choices, policies, laws, decisions and tenets.
Our founding principles are those of freedom, equality of rights and opportunities, guaranteed individual rights, capitalism, democracy and government by consent rather than by tyranny and rule.
The assurance of collective rights of the people managed and insured by a small corps of government who are all powerful does not assure the rights of the individual nor the equality of opportunities to all. Nor does it promote liberty, equality of rights and opportunities nor government by the people, of the people and for the people which represents the people of the United States of America.
Whether that is made because of aristocracy and elitism or through socialism and communism, both are wrong - yielding no more than abuses of power, corruption, oppression, poverty, restrictive prosperity for only a few, and eventually, deteriorating societies over any appreciable time.
For instance, the freedom to drive a vehicle in our modern world should be understood as neither right nor privilege but as necessity. Education, as well, is neither right nor one of privilege but of necessity, and to a greater advantage and benefit of us all and of our nation. Home ownership is not naturally a basis of status but rather of a place to live and a safe harbor from which individuals and families can operate and conduct their lives, participate in their communities and assure their own well-being. When the prices of housing and properties, of basic necessities for living are not in the same table of reference with wages and ways of earning a sustainable living, a destruction of the society will occur by the nature of its injustice and failure.
Opportunities to conduct business and opportunities for employment are necessities of all and are guaranteed by our Constitution and founding principles to be available equally to any that will work for them. Where is the place in America to exclude those not of privileged classes in our tenets? These are not collective rights nor only assured to those privileged enough to access them. These are individual rights to opportunity equally shared by all American citizens regardless of status, religion, race, nationality, gender, age, or “wholeness” by some prescribed measure.
Whenever I hear the use of this argument by anyone, “is it a right or a privilege,” I am outraged. It is the very tenet of socialism and communist doctrine that came from academic elitists which began in aristocracy and oppression that we have fought across the world to end. It undermines the very foundations of America.
We have come to a point in the world and in the United States where those with privilege by access to opportunity and wealth have used their financial gain to insure their greater voice in matters affecting us all. And, where our individual rights have been compromised by a few in the name of our “collective rights” with both aristocracy and socialists using the same argument for their abuses of power and position. Both are wrong and have contributed to decimating the foundations of our society in their struggles for power and by their abuses of it.
The aristocratic class has insured our demise by financially excluding most Americans from the process of education, of government, of politics, of the acquisition of homes and reasonable employment, and of business, business ownership, entrepreneurial enterprise and prosperity. The aristocracy in America have denied access to freedom, rights and opportunities of the greatest number of Americans living under the oppression of despicable power-mongering, money-greedy twisted world views than any dictatorship in history. They have decimated the living standard, level of education and prosperity of every individual American and of our nation.
The socialists and liberals through collectivism have insured our demise through shoddy workmanship in American products and services, business deprecation, depravity, greed for power, reduced incentives, increase of abject poverty, exclusion of certain rights, such as driving, education, individual freedoms and economic inclusion to many, through segregation of economic disadvantaged, and by forcing unethical choices on political officials and those in authority. They have single-handedly destroyed the opportunities for all but a very few which sit comfortable in their assured freedoms of elitist intellectualism and positions of power within the government of the United States of America. They deny every foundation that applies to the true freedoms and guarantee of individual rights honored by our Constitution.
Both aristocrats and socialists suffer in many ways from the abuse of power syndrome which is indicated by the adage, “absolute power corrupts absolutely,” and both have decimated our country’s opportunity to survive and to compete in a larger world today and in the future. There is no good life, good living or great America in their choices for us all to endure.
The important questions are these:
1. What gives us competitive advantage now and in the future as individuals and as a nation?
2. What things open greater opportunity and advantage to every American?
3. What needs to be done to make wealth, education, opportunity and quality of life equally and easily available to all, for every individual that chooses to pursue it?
4. What continues to foster, protect, nourish and enhance our freedoms and individual rights and liberties along with our prosperity as a nation and as individuals?
5. What insures our sustenance and growth as a nation while protecting the tenets of our founding principles and foundation ideologies?
Without the premise of those ideologies, we are not America nor a land of the free, home of the brave. Nor are we fighting across the world in support of a greater cause. Without aristocracy and without socialists, our economy and our society will thrive. But it will not thrive without freedom, equality, democracy, capitalism, free market economy, representative government, and equal opportunities to education, prosperity and liberty.
By unnaturally manipulating our economy, prices of housing and property, opportunities to employment and enterprise, opportunities to higher education by price and financing, access to quality and quantity of food and other necessary goods, and by excluding individuals from their Constitutionally guaranteed rights for any number of reasons, the United States has lost its place and lost its ways that insured its continued existence and power. It is now a third world economy and a second world power with no real innovation nor threshold of invention compared to the world market stage.
Our country has devolved into a place of police brutality, pervasive intolerance, unjustified cruelty, rampant crime and denial of basic human rights on a regular basis while the greatest criminals of all time sit in our government and in the protected aristocracy of business leadership. Our government on every level is ineffective at best, expensive on average and abusive all too commonly.
At ground level, individual Americans are denied the rights to feel angry, annoyed or agitated by events and situations in their lives, nor are they allowed to feel sad, grieved, outraged, embarrassed, humiliated nor indignant about things happening in their lives and in our country. Our government locally is given the rights to come into their homes without cause to take them into locked confinement without rights, take their children and in many cases, to take their property and destroy their belongings for any reason whatsoever, including eminent domain and the government’s desire to use the property for something else.
The United States of America resembles nothing of the freedoms and assurances of rights given to individuals by the Constitution with over twenty percent of our population at any given time incarcerated in prisons and well over ten percent living in locked institutions of “mental health” and behavior modification camps and programs in the name of “mental health,” in the use of this for the business health of pharmaceutical companies and as the destruction of dissident populations. According to European standards, over twenty-five percent of our nation lives in poverty with limited access to the abundance they see around them and because of the caste system existing in our nation today, they will never have access to wealth and abundance in their lifetimes no matter what they do.
The most trite and trivial application of the incredible number of petty and unreasonable laws are applied to most of the population across the United States on a day-to-day basis while those in positions of authority, power, politics, financial power and influence adhere to no laws whatsoever nor are held accountable to them in any way. We live in a police state at the hands of both Democrats and Republicans and their abuses of power.
When the Chinese authorities during the Olympics stopped a journalist from reporting an undesirable story, it was obvious that we were seeing China operate and not America, when the police didn’t beat the living daylights out of the reporter before tazing him handcuffed on the ground and hauling him away to be locked away for several years as they do every day across America.
When the woman in a New York mental hospital intake died waiting to be locked away and put on psychiatric drugs involuntarily this year, it wasn’t an isolated incident and neither was her being placed there an appropriate help to her situation. She had worked for quite awhile before losing her job and then losing her place to live. When she asked to be helped by the minister that she had worked alongside, that knew her - the law was called because she was “agitated” having found herself homeless after working hard and doing the right things. That is communism in America at work and is so common that people find it acceptable.
There are homeless and those living in abject poverty that will always be excluded from “the game” that America has become at the hands of the powerful and financially status-oriented. Their opportunities are not only denied but basic human rights available to all living beings are also denied. That is not a mental health condition but rather one of extreme oppression, aristocracy and exclusion from participation. This is America as it has been re-created in the image and view of America’s leadership, both by the intellectual elite and political dictatorship at the helm in the United States today. That is the twisted view of the world that needs correcting with some serious mental health applications in the realm of our leadership.
We have an entire country filled with houses that no one can afford to own where years and years of equity and efforts were wiped out within a few short weeks to suit the greed of Wall Street and our politicians in the name of their business friends. The money that was created for them was assured at the expense of every homeowner and American citizen, at the hands of every employee that will ever work in America and over the needs of any human being living in the United States today and in the future.
Our President demands that we “unleash the keys of America’s entrepreneurial spirit,” while socialism and communism are the tenets he and his Washington friends use to bind us all into oppression and insolvency. His Congressional friends and business buddies must need some new ideas and innovations to steal since they’ve found themselves at a disadvantage in the world using their own ideas. These “leaders” have managed to exclude everyone else that might think differently about things than they do such that they would have new ideas and innovations and when they have these ideas available, they dishonor them by stealing from their inventors.
This is a nation of abhorrence and continued wealth assured to only a few while the rest live in destitution and lack of opportunities in any measure. And, where the lowest disadvantaged third of our country is subjected to every horror of socialism, communism, oppression and abuse of power, our leadership fails to do even one small thing for themselves by their own hands. Their food is cooked for them, their cars driven for them, their accounting administered for them, their yards landscaped and kept up for them, their hair cut for them, their houses cleaned for them, and their asses wiped for them, because it is beneath them to do it.
Personally, I would not have wanted to put my name on that $700 billion dollar Wall Street banking and business bailout bill while ignoring the will of the American people by doing it, especially knowing that somewhere in America, I would have to sleep at night, my food would be cooked by someone besides me, and that I would want to eat at a restaurant or go on vacation somewhere in the world where others would be serving me. Not in this lifetime or the next, would I rest easy after ignoring the will of the people that I was hired to represent and after genuinely screwing them.
There is nowhere in America to hide from these facts at a point. It will not be long before those impoverished by politics and exclusion will find the rich where they sleep. It is easily found throughout history, even in the history of our own country when English rule threatened the survival of a foundling nation and its interests. There is no protection from the reality our current corrupt leaders of government and business have created for all of us and its results.
There are no sales when a company has abused the privilege of its position and power in the marketplace because it depends upon the great “unwashed masses” for its existence and continued profitability. There are no positions of power in the United States when finally tolerance for their abuse stops and apathy gives way to action. We are the governed by consent of the governed and sooner or later - there is no where to hide from that real fact.
Consequently - here is the answer to the question, “is it a right or is it a privilege.” It is both my privilege and my right as an American citizen and as a human being to stand equal to any and all that would choose to judge by that question. It is my right and my privilege by virtue of waking up alive today, to be of equal value to our nation and our national interests as are any others alive this day. And, it is my right and my privilege to be more valuable than any other category of objects, whether money, property, prestige or thing, greed, power, or status.
Corporate America does not exist nor thrive without us. Intellectual elitists, socialists and communists in the name of assured collective rights cannot sleep well without our apathy. And, the aristocracy and dictatorship of the US government does not survive separate from and exclusive to our consent of power. Republicans and Democrats have abused the power and authority given to them and done so at our expense. None of them are worthy of the breath God gave them nor fit to lead anything nor anybody at any time for any reason. They’ve proven it.
And, despite brutality by police, abuse by government systems intended to “help” which did no more than destroy every basic human right, civil right and freedom that I was guaranteed by America and her Constitution, and despite authorities, socialists and aristocrats of America excluding my participation in the wealth and prosperity of capitalism - it is my right and my privilege to push that boot off my back and off the backs of every American citizen living today to restore America to her founding tenets of freedom and protections of our inalienable rights.
Written by Cricket Diane C “Sparky” Phillips, 10-09-08, USA
Businesses that need credit to keep covering overhead - where is the money from their sales? US economic crisis -
When the executive of Lehman Brothers, Dick Fuld was testifying to Congress, there was a point that he was explaining why $10 billion dollars was spent at the end of the year buying back stock. His explanation was that the compensation contract with employees had a stock component and that they were buying up their Lehman stock such that these would be available for employees’ packages.
Now, at what point did it become appropriate to sell stocks that belonged to their employees in the first place? It makes it look like the company was selling these stocks for cash each year, floating them in the market and then at the end of each year, buying them back to “balance the books,” so to speak. When it became obvious that there was a liquidity problem, this method of maneuvering these stocks (that they didn’t actually own since they belonged to employees,) was part of what contributed to their downfall. But why were they doing it in the first place?
Second thing I’ve noticed lately, is that politicians, leaders, Senators and business “experts” are suggesting that payrolls and orders for products to sell, among other things can’t be made without credit to cover them. How is it possible that solvent, profitable businesses are covering the basic costs of doing business, using credit? They’ve had costs covered through sales and profits over many years. They have stocks out in the marketplace. They continue to make money as their sales in the consumer markets had increased over past years. So, what does this mean? Why would they need credit to cover the basic costs of doing business?
It looks to me like something is very wrong with that picture. It is so prevalent that there must be a business method at work that has been a commonplace way of doing things for awhile. But, when I go into any business, the costs of my products or services must be covered by sales of the product or service and paid to cover overhead directly.
What have they been doing with that money such that it isn’t available to cover their overhead on a regular basis? How did these companies figure they could afford $60 million dollar a year executives when their basic costs of doing business were not being covered first and they were running almost completely on credit?
Written by Cricket Diane C Sparky Phillips, 10-08-08, USA
US economic crisis - there are huge funded groups of economic study, research, statistics, analysis and interpretation and development and WHAT gets done? Spending more money to study it some more -
US economic crisis - there are huge funded groups of economic study, research, statistics, analysis and interpretation and development and WHAT gets done? Spending more money to study it some more -
http://knowyourregion.wcu.edu/
However, in many regions across the nation, development professionals have not fully maximized the opportunities afforded by regional solutions.
To address this discontinuity, the U.S. Economic Development Administration partnered with Western Carolina University ’s Institute for the Economy and the Future to create the Know Your Region Project. During the first year of the project, the Institute for the Economy and the Future worked with the University of Illinois at Urbana-Champaign’s Regional Economics Applications Laboratory , and The Council for Community and Economic Research (formerly ACCRA) to develop a curriculum that enables practitioners to understand and apply core concepts of regionalism and clustering to the strategic planning process. During this second year of the project, the Institute for the Economy and the Future is focused on delivering the Know the Region curriculum and developing and disseminating additional resources for development practitioners across the nation.
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http://knowyourregion.wcu.edu/index.php?option=com_content&task=blogcategory&id=3&Itemid=101
U.S. Economic Development Administration
www.nawb.org - National Workforce Boards
National League of Cities
www.compete.org - The Council on Competitiveness
www.kauffman.org - how some of the most sophisticated forms of research are now being performed abroad.
| Curriculum Designers |  |
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Dr. Edward Feser
Dr. Edward Feser is Associate Professor of Urban and Regional Planning at the University of Illinois at Urbana-Champaign and Research Associate Professor at the Regional Economics Applications Laboratory (REAL). Dr. Feser oversees research on local and regional economic development strategies, the development of methods and datasets for understanding regional economic change and competitiveness, and the study of economic development policy making processes and politics. In addition, Dr. Feser teaches courses in state and local economic development policy, regional development theory, urban and regional analysis, and urban spatial structure. His research focuses on the forces influencing the growth, decline, economic adjustment, and industrial restructuring of cities and regions. He has published work on technology-oriented economic development, theories of industry clustering, industry cluster analysis methods, agglomeration economies and industrial productivity, migration and regional economic distress, regional influences on process technology adoption in manufacturing, and the improvement of data and spatial-analytical techniques for local development practice. Currently he is studying economic development policy making processes and the role that universities can play in assisting states and regions undertake strategic economic development planning.
Dr. Feser’s research has been supported by the National Science Foundation, the World Bank, the U.S. Economic Development Administration, the Appalachian Regional Commission, and the German Marshall Fund of the United States, as well as multiple state and local agencies. He is involved in the development and operation of NEURUS —the Network for European-U.S. Regional and Urban Studies—a consortium of universities in the U.S., the Netherlands, Germany and Austria.
Dr. Kenneth Poole
Dr. Kenneth E. Poole is CEO of the Center for Regional Economic Competitiveness (CREC) and Executive Director, ACCRA. Dr. Poole has managed economic development research, analysis, and technical assistance efforts for 23 years. In January 2000, Dr. Poole formed the Center as an independent non-profit affiliated with George Mason University and ACCRA-the Council for Community and Economic Research. CREC focuses on developing a stronger understanding of how regional economies can compete effectively in the knowledge-based economy. As part of those efforts, Dr. Poole directs a national nonprofit membership organization (ACCRA) serving economic and community development researchers in communities, states, academia, and the private sector. In his capacity of Executive Director, Dr. Poole oversees all program development activities of the organization including its research and professional training activities.
These are two of the team that is working on this regional definition approach to economic development.
They are found on this page with their team members and backgrounds.
http://knowyourregion.wcu.edu/index.php?option=com_content&task=view&id=17&Itemid=59
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ACCRA Cost of Living Index Site
http://www.coli.org/
Policy makers who are using the median household income data should pay more attention to the effects of cost of living adjustment. In areas with higher cost of living, the current median household income report overstates the buying power of household incomes. At the same time, households in areas with a lower cost of living frequently do better than their ranking might suggest. As the following table shows, the ranking of the nation’s wealthiest counties changes considerably when adjusted for the ACCRA Cost of Living Index.
http://www.coli.org/COLIAdjustedMHI.asp
** Note __ This page contains a brief chart of cost of living adjusted for selected areas.
The Council For Community and Economic Research
http://www.c2er.org/sitemap.asp
http://knowyourregion.wcu.edu/pdf/defareg.pdf
http://www.bls.gov/news.release/jolts.nr0.htm
http://www.whitehouse.gov/omb/budget/fy2009/commerce.html
https://www.esa.doc.gov/economic_links.cfm
| National Development Organizations | |
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Development organizations perform a variety of tasks aimed at enhancing the business and community climate of a given locale in order to support economic development.
The results from the National Needs Assessment of Economic and Workforce Development Practitioners that was conducted by the Institute for the Economy and the Future as the first phase of the “Know Your Region” Project revealed community development as the most common organizational priority, followed closely by development and finance, planning and research, and workforce development. These findings are supported by the results of the Survey of Economic Development Organizations conducted by ACCRA / The Council for Economic and Community Research in June of 2006.
The following categories represent these organizational priorities, as well as other common organizational focuses. National development organizations have been aggregated into these categories, such that clicking on one of the headings below will generate a list of relevant development organizations and a link to their homepage.
Federal:
US Economic Development Administration - http://www.eda.gov/
US Department of Agriculture - http://www.usda.gov/wps/portal/usdahome
U.S. Small Business Administration - http://www.sba.gov/
Entrepreneurial Development:
Kauffman Foundation - http://www.kauffman.org/
Entrepreneurial Development
National Association of Development Organizations - http://www.nado.org/
National Association of Regional Councils - http://www.narc.org/
Research Park / Tech Transfer / Business
National Business Incubation Association - http://www.nbia.org/
Small Business Development Center - http://www.sba.gov/aboutsba/sbaprograms/sbdc/index.html
State Science and Technology Institute - http://www.ssti.org/about.htm
Association of University Research Parks - http://www.aurp.net/
Policy & Research
National Governors Association - http://www.nga.org/portal/site/nga
National League of Cities - http://www.nlc.org/
National Association of Counties – Resource Center - http://www.naco.org/
American Planning Association - http://www.planning.org/
Council on Competitiveness - http://www.compete.org/
Workforce Development
National Association of Workforce Boards - http://www.nawb.org/
National Workforce Association - http://www.nwaonline.org/
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this is ridiculous - there are layers and layers and layers of stupid that is studying the hell out of all these economic things in the US but not getting anything economic done for us. GOOD GRIEF!
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Comparison of reality in US business, stock market, government thinking and poverty in America - it has to be aristocracy at work protecting itself in USA
The credit markets first locked up in August 2007 when two hedge funds run by New York-based Bear Stearns Cos., then the fifth-largest U.S. securities firm, collapsed after the values of their mortgage-related holdings deteriorated. Since then, waves of foreclosures on high-interest subprime home loans have produced almost $600 billion in losses on mortgage-backed securities held by banks and Wall Street firms.
Two Weeks of Talks
The crisis prompted the resignations of chief executive officers at Merrill Lynch & Co., Citigroup Inc. and UBS AG and the government takeovers of Fannie Mae and Freddie Mac, the mortgage giants, and American International Group Inc., the world’s biggest insurer. It forced the sale of Bear Stearns, New York-based Merrill and Charlotte, North Carolina-based Wachovia Corp. and the bankruptcy of New York-based Lehman Brothers Holdings Inc. President George W. Bush has record low approval ratings, and lawmakers are calling for new regulation of Wall Street.
The Oct. 3 bailout vote culminated two weeks of backroom negotiations, arm-twisting and begging in Washington as the Bush administration tried to convince reluctant members of Congress that they should use taxpayer money to buy toxic assets. The 450- page bill, laden with tax breaks and other measures unrelated to the crisis, grew out of a two-and-a-half page proposal that Paulson sent to Capitol Hill early on Saturday, Sept. 20.
Two days earlier, Paulson and Federal Reserve Chairman Ben Bernanke had warned congressional leaders in a closed-door meeting that numerous banks and other companies might fail if Congress didn’t approve a bailout.
Many Members Opposed
To counter the threat, Paulson was seeking unprecedented power to buy and hold as much as $700 billion in mortgage-related assets without judicial review. On Sunday, Sept. 21, Paulson went on morning talk shows including NBC’s Meet the Press to sell the proposal to the public.
As ‘Biggest Crisis’ Hit, Congress Held Nose and Backed Bailout
By Alison Fitzgerald
More Photos/Details
Oct. 6 (Bloomberg)
To contact the reporter on this story: Alison Fitzgerald in Washington at Aiftzgerald2@bloomberg.net
Last Updated: October 6, 2008 00:01 EDT
http://www.bloomberg.com/apps/news?pid=20601070&sid=a2PslgpVvrCI&refer=home
Poverty
Overview
* In 2007, the family poverty rate and the number of families in poverty were 9.8 percent and 7.6 million, respectively, both statistically unchanged from 2006. Furthermore, the poverty rate and the number in poverty showed no statistical change between 2006 and 2007 for the different types of families. Married-couple families had a poverty rate of 4.9 percent (2.8 million), compared with 28.3 percent (4.1 million) for female-householder, no-husband-present families and 13.6 percent (696,000) for those with a male householder and no wife present.
# Public Information Office
# 301-763-3030/763-3691
# 301-763-3762 (fax)
# 301-457-1037 (TDD)
# e-mail: < pio@census.gov >
http://www.census.gov/Press-Release/www/releases/archives/income_wealth/012528.html
FOR IMMEDIATE RELEASE
TUESDAY, AUG. 26, 2008, 10:10 A.M. EDT
Women In United States made 78% of Men’s Salaries 2006-2007 and poverty in US before 2008 started into Economic Crisis
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Poverty
Overview
* In 2007, the family poverty rate and the number of families in poverty were 9.8 percent and 7.6 million, respectively, both statistically unchanged from 2006. Furthermore, the poverty rate and the number in poverty showed no statistical change between 2006 and 2007 for the different types of families. Married-couple families had a poverty rate of 4.9 percent (2.8 million), compared with 28.3 percent (4.1 million) for female-householder, no-husband-present families and 13.6 percent (696,000) for those with a male householder and no wife present.
Earnings
* In 2007, the ratio of earnings of women who worked full time, year-round was 78 percent of that for corresponding men. The real median earnings of men who worked full time, year-round climbed between 2006 and 2007, from $43,460 to $45,113. For women, the corresponding increase was from $33,437 to $35,102. These increases in earnings follow three years of annual decline in real earnings for both men and women.
Meanwhile, the nation’s official poverty rate in 2007 was 12.5 percent, not statistically different from 2006. There were 37.3 million people in poverty in 2007, up from 36.5 million in 2006. The number of people without health insurance coverage declined from 47 million (15.8 percent) in 2006 to 45.7 million (15.3 percent) in 2007.
These findings are contained in the report Income, Poverty, and Health Insurance Coverage in the United States: 2007 [PDF]. The data were compiled from information collected in the 2008 Current Population Survey (CPS) Annual Social and Economic Supplement (ASEC).
Real median household income in the United States climbed 1.3 percent between 2006 and 2007, reaching $50,233, according to a report released today by the U.S. Census Bureau. This is the third annual increase in real median household income.
NOTE - This is not accurate according to other sources.
# Public Information Office
# 301-763-3030/763-3691
# 301-763-3762 (fax)
# 301-457-1037 (TDD)
# e-mail: < pio@census.gov >
http://www.census.gov/Press-Release/www/releases/archives/income_wealth/012528.html
FOR IMMEDIATE RELEASE
TUESDAY, AUG. 26, 2008, 10:10 A.M. EDT
Thresholds
* As defined by the Office of Management and Budget and updated for inflation using the Consumer Price Index, the weighted average poverty threshold for a family of four in 2007 was $21,203; for a family of three, $16,530; for a family of two, $13,540; and for unrelated individuals, $10,590.
Age
* For people 65 and older and those 18 to 64, the poverty rate remained statistically unchanged at 9.7 percent and 10.9 percent, respectively. For children younger than 18, the poverty rate increased from 17.4 percent in 2006 to 18.0 percent in 2007.
* The number of people in poverty increased for seniors 65 and older — from 3.4 million in 2006 to 3.6 million in 2007. For children younger than 18, the number in poverty climbed as well, from 12.8 million in 2006 to 13.3 million in 2007. For those 18 to 64, however, the number in poverty remained statistically unchanged, at 20.4 million in 2007.
Regions
* The number in poverty in the South increased to 15.5 million in 2007, up from 14.9 million in 2006, while the poverty rate remained statistically unchanged at 14.2 percent in 2007. In 2007, the poverty rates for the Northeast (11.4 percent), the Midwest (11.1 percent) and the West (12.0 percent) were all statistically unchanged from 2006. The poverty rate for the Northeast was not statistically different from that of the Midwest or West.
Overview
* The number of uninsured children declined from 8.7 million (11.7 percent) in 2006 to 8.1 million (11.0 percent) in 2007.
Income
* In the 2007 ACS, median household income ranged from $68,080 for Maryland to $36,338 for Mississippi. (The median income for Mississippi was not significantly different from that for West Virginia.)
* Median household incomes for 18 states and the District of Columbia were above the U.S. median in 2007, while 29 states were below it. Three states had 2007 median household incomes that were not statistically different from the U.S. median.
Earnings
* Connecticut, New Jersey, Maryland, Massachusetts, New Hampshire and Alaska had median earnings above $50,000 for men who worked full time, year-round in the 2007 ACS. No state had median earnings for women above $50,000, but the District of Columbia, Maryland, New Jersey, Massachusetts and Connecticut had median earnings for women who worked full time, year-round above $40,000.
* For each of the 50 states, women had lower median earnings than men in the 2007 ACS. The District of Columbia had the highest ratio of women’s-to-men’s earnings (93.4 percent). In fact, there was no statistically significant difference between women’s and men’s median earnings in Washington, D.C.
# In the 2007 ACS, among large cities (250,000 or more population), Detroit had the highest poverty rate (33.8 percent). Plano, Texas (5.9 percent), Virginia Beach, Va. (6.4 percent) and Anchorage, Alaska (7.3 percent), while not statistically different from each other, had lower poverty rates than other cities of the same size.
# Among the smaller cities (65,000 to 249,999 population), Bloomington, Ind. (41.6 percent) had a higher poverty rate point estimate than other places, although its rate was not statistically different from that of Camden, N.J.; Brownsville, Texas; and Gainesville, Fla. The poverty rate for Highlands Ranch, Colo., which was among the lowest (0.8 percent), was not statistically different from Chino, Calif.; Yorba Linda, Calif.; Folsom, Calif.; Flower Mound, Texas; Pleasanton, Calif.; and Weston, Fla.
Note that estimates from the CPS ASEC may not match the estimates from the ACS because of differences in the questionnaires, data collection methodology, reference period, processing procedures, etc. Both surveys are subject to sampling and nonsampling errors. All comparisons made in the reports have been tested and found to be statistically significant at the 90 percent confidence level, unless otherwise noted.
For additional information on the source of the data and accuracy of the estimates for the CPS, visit <http://www.census.gov/hhes/www/p60_235sa.pdf>.
For additional information on the ACS data, visit <http://www.census.gov/acs/www/UseData/Accuracy/Accuracy1.htm>.
http://www.census.gov/Press-Release/www/releases/archives/income_wealth/012528.html
Earnings
* In 2007, the ratio of earnings of women who worked full time, year-round was 78 percent of that for corresponding men. The real median earnings of men who worked full time, year-round climbed between 2006 and 2007, from $43,460 to $45,113. For women, the corresponding increase was from $33,437 to $35,102. These increases in earnings follow three years of annual decline in real earnings for both men and women.
Real median household income in the United States climbed 1.3 percent between 2006 and 2007, reaching $50,233, according to a report released today by the U.S. Census Bureau. This is the third annual increase in real median household income.
Meanwhile, the nation’s official poverty rate in 2007 was 12.5 percent, not statistically different from 2006. There were 37.3 million people in poverty in 2007, up from 36.5 million in 2006. The number of people without health insurance coverage declined from 47 million (15.8 percent) in 2006 to 45.7 million (15.3 percent) in 2007.
These findings are contained in the report Income, Poverty, and Health Insurance Coverage in the United States: 2007 [PDF]. The data were compiled from information collected in the 2008 Current Population Survey (CPS) Annual Social and Economic Supplement (ASEC).
***
How could President Bush be surprised that small business leaders aren’t helped by bailout? US economic - global economic crisis - and true unemployment US
posted to cnn.com/business360 blog at 2.44 p/ET-US, 100-06-08, USA
The number of jobs lost and unemployment percentages are a faulty non-representation and lenders, including large lenders know it - so do other countries that are dependent on the US consumer economy. That is why they aren’t going to lend. Unemployed people are not going to be able to purchase the orders that loans might pay to deliver.
The bailout did nothing good and will not solve anything in the credit markets or anywhere else except to hire favored firms and friends to manage these worthless assets. It will not insulate the markets nor businesses from them.
In the international community, the only thing that the US really had going for it was this ideology of free market economy, capitalism and representative government. By doing the bailout, the world has watched those be denounced and disavowed by US leadership. It is irreparable now that they’ve done it this way.
The sooner that these “fudged” employment numbers are corrected, the sooner a set of real solutions can have reason to be enacted. The rest of the world does know, lying to American people and business owners does not help. The current situation is not a “bear market” doing what it always has done. This is different than anyone has ever experienced.
There is no way to correct the damage our government has done, pushing through the bailout package as they did. Socialism of the losses shouldn’t have even been on the list of options and our real solutions that are available were on the table to use. But the choice because of what, became either this bailout in its offered form or nothing?
It looked like President Bush meeting with small business leaders today, was genuinely shocked and embarrassed by the outrage he encountered there about the bailout. How could he be surprised?
- Cricket Diane C “Sparky” Phillips, 10-06-08, USA
Just a Thought from Jan 2006
http://goliath.ecnext.com/coms2/browse_R_I006-200601
OMAN: GENERAL BUDGET RECORDS OR 1.129 BILLION SURPLUS.
January 31, 2006
http://goliath.ecnext.com/coms2/browse_R_I006-200601_751_825
http://goliath.ecnext.com/coms2/browse_R_I006-200601
OMAN: GENERAL BUDGET RECORDS OR 1.129 BILLION SURPLUS.
January 31, 2006
http://goliath.ecnext.com/coms2/browse_R_I006-200601_76_150
IRAN: PORT TRANSPORTS - FACTS AND FIGURES.
January 30, 2006
JORDAN: KUWAITIS TOPS JORDAN’S LIST OF INVESTORS.
January 30, 2006
IRAN: PRESIDENT URGES CHANNELING BANKING FACILITIES INTO PRIVATE SECTO…
January 30, 2006
JORDAN: UNRWA INCREASES KINGDOM’S BUDGET FOR 2006-7.
January 30, 2006
http://goliath.ecnext.com/coms2/browse_R_I006-200601_751_825
SAUDI ARABIA: 422,000 PC UNITS SOLD IN 2004.
January 23, 2006
SAUDI ARABIA: ACER INVESTS IN PC MANUFACTURING.
January 23, 2006
SAUDI ARABIA: LOCAL INFORMATION TECHNOLOGY MARKET TO REACH SR 26.2 BIL…
January 23, 2006
GULF STATES: JULPHAR POSTS 71% NET PROFIT GROWTH.
January 23, 2006
SAUDI ARABIA: NEW ETHYLENEAMINES MANUFACTURING FACILITY PROJECT UNDERW…
January 23, 2006
SAUDI ARABIA: GOVERNMENT BUILDS 90 DAMS.
January 23, 2006
SAUDI ARABIA: 223 DAMS EXISTING IN KINGDOM.
January 23, 2006
EGYPT: SUEZ CANAL RECORDS INCREASE IN CARGO MOVEMENT.
January 23, 2006
UAE: DUBAI’S UNDER WEARS RE-EXPORT VALUED.
January 23, 2006
SAUDI ARABIA: LOCAL WOMEN UNDER WEARS MARKET VALUED.
January 23, 2006
SAUDI ARABIA: ORDINARY SAUDI WOMAN SPENDS $186 ON UNDER WEARS.
January 23, 2006
MIDDLE EAST: ASSETS VALUE OF ARAB BANKS EXCEEDS $1 TRILLION.
January 22, 2006
(
MIDDLE EAST: ASSETS VALUE OF ARAB BANKS EXCEEDS $1 TRILLION.
January 22, 2006
OMAN: VOLUME NON-OIL SECTOR’S ACTIVITIES GREW BY 8%.
January 22, 2006
OMAN: PRODUCT VALUE OF NATURAL GAS SECTOR GREW BY 58%.
January 22, 2006
OMAN: PRODUCT VALUE OF PETROLEUM AND GAS SECTOR GREW BY 42%.
January 22, 2006
OMAN: VOLUME OF PETROLEUM AND GAS EXCAVATION ACTIVITIES GREW BY 43%.
January 22, 2006
OMAN: GDP ROSE BY 23%.
January 22, 2006
GULF STATES: ISLAMIC BANKS RECORD 68% NET PROFITS GROWTH.
January 22, 2006
GULF STATES: ISLAMIC BANKS RECORD 74% RISE IN INVESTMENTS.
January 22, 2006
GULF STATES: ISLAMIC BANKS RECORD 42% RISE IN CUSTOMER DEPOSITS.
January 22, 2006
GULF STATES: ISLAMIC BANKS RECORD 9.2% RISE IN ASSETS.
January 22, 2006
(
GULF STATES: ISLAMIC BANKS RECORD 28% RISE IN PAID-UP CAPITAL.
January 22, 2006
UAE: $365 BILLION EXPORTS.
January 22, 2006
UAE: $95 BILLION TRADE SURPLUS.
January 22, 2006
UAE: INVESTMENTS TOTALED DH 85 BILLION.
January 22, 2006
UAE: LOCAL OIL PRODUCTION ESTIMATED.
January 22, 2006
UAE: GDP GREW BY $15 BILLION.
January 22, 2006
UAE: 2ND HIGHEST GROWTH RATE.
January 22, 2006
BAHRAIN: HIGHEST GROWTH RATE.
January 22, 2006
UAE: DH 23 BILLION NEW CONSTRUCTION PROJECTS IN ABU DHABI.
January 22, 2006
UAE: BEGINNING OF OPERATIONS OF GOLD BOURSE IN DUBAI.
January 22, 2006
UAE: DATA ON BANK CREDIT TO PRIVATE CLIENTS THIRD QUARTER 2005.
January 22, 2006
YEMEN: AGREEMENT TO MINE ZINC AND LEAD.
January 22, 2006
SAUDI ARABIA: DATA ON EXTENT OF CREDIT FOR BASIC NEEDS IN 2004.
January 22, 2006
EGYPT: SURPLUS IN BALANCE OF PAYMENTS IN 2004-2005.
January 22, 2006
OMAN: DATA ON CONTRIBUTION OF OIL SECTOR TO GDP FIRST HALF OF 2005.
January 22, 2006
- Thought you might like to see what I found on these pages - But, then I’m looking for something pretty target specific. At the bottom of each page, there are page links available which allow jumps to special targets and although, I don’t usually use them - other types of search here that can be made.
There are a lot of online services like this one but usually I’m not looking for specifics as I am now, but rather for extensive overviews of movement in an arena. This is easier to see through data bases by date like this one.
- cricketdiane
US degradation of representation, democracy, free market economy, capitalism, human rights, civil rights and prosperity in 2008 - US economic crisis - US government and hounds of business
“The reason I consider the international economists and practices commissions is becuase the bullshit percentage is lower.” (that’s my observation - cricketdiane.)
The United States has gone all over the world not only promoting, but demanding democracy be put into place. The US has forced economic policies and insisted on capitalism and free market economies in every corner of the globe. America has defined and enforced the issues of human rights and civil rights everywhere around the globe.
And, then on our own soil, used something else because it suited them at the time and suits them now?
What kind of nonsense and insanity would create a totalitarian government with socialist economic policies where the bastions of freedom and capitalism once stood in (Our) USA?
We’ve used our (global) trading partners as scapegoats for our unsound business practices and dumped “assets” on them that were worthless in the (final) current analysis. We’ve done so at our discretion because something else could’ve been done and done differently. We watch today as their businesses thrive (since and) because they are doing business in the ways we once did.
And, still our economic leadership wants nothing of it and is continuing to pursue a course to leave us without prosperity, genuine capitalism and democracy ( and without any real r