Make America great again – support education being offered to every US adult citizen at University and Technical Schools without cost / tuition free – we are already paying for it with our taxes and have been all along – and UN Economic Crisis Summit June 24 – 26, 2009 – Georgia State Budget and Equity Funds for Georgia Cities, Counties and Businesses

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The U.S. has the world’s largest prison population with one in every 31 adults in the corrections system, which includes jail, prison, probation and supervision. States spent a record $51.7 billion on corrections in fiscal 2008.

[from – ]

FACTBOX: U.S. states in balancing act on budgets
Fri Jun 26, 2009 10:51am EDT

NEW YORK (Reuters) – U.S. states are resorting to some unusual measures to balance budgets as the economic recession decimates their revenue.

Forty-six U.S. states face fiscal 2010 budget deficits totaling at least $130 billion, according to the Center on Budget and Policy Priorities. During the current fiscal year, 42 states were hit with mid-year shortfalls of a combined $60 billion, according to the Washington think-tank.

[etc.]

http://www.reuters.com/article/domesticNews/idUSTRE55N2O820090626
FACTBOX: U.S. states in balancing act on budgets
Fri Jun 26, 2009 10:51am EDT

***

http://www.un.org/ga/econcrisissummit/

United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development – June 24 – 26, 2009

The United Nations is convening a three-day summit of world leaders from 24 to 26 June 2009 at its New York Headquarters to assess the worst global economic downturn since the Great Depression. The aim is to identify emergency and long-term responses to mitigate the impact of the crisis, especially on vulnerable populations, and initiate a needed dialogue on the transformation of the international financial architecture, taking into account the needs and concerns of all Member States.

http://www.un.org/ga/econcrisissummit/

**

The United Nations summit of world leaders in June was mandated at the Follow-up International Conference on Financing for Development, held in December 2008 in Doha, Qatar. Member States requested the General Assembly President Miguel d’Escoto Brockmann to organize the meeting “at the highest level”.

**

Draft outcome document of the Conference on the World Financial and Economic Crisis and its Impact on Development
We, Heads of State and Government and High Representatives, met in New
York from 24 to 26 June 2009 for the United Nations Conference on the WorldFinancial and Economic Crisis and Its Impact on Development.
1. The world is confronted with the worst financial and economic crisis since the Great Depression. The evolving crisis, which began within the world’s major financial centres, has spread throughout the global economy, causing severe social, political and economic impacts. We are deeply concerned with its adverse impact on development.

This crisis is negatively affecting all countries, particularly developing countries, and threatening the livelihoods, well-being and development opportunities of millions of people. The crisis has not only highlighted longstanding systemic fragilities and imbalances, but has also led to an intensification of efforts to reform and strengthen the international financial system and architecture.

Our challenge is to ensure that actions and responses to the crisis are commensurate with its scale, depth and urgency, adequately financed, promptly implemented and
appropriately coordinated internationally.

2. We reaffirm the purposes of the United Nations, as set forth in its Charter,
including “to achieve international cooperation in solving international problems of an economic, social, cultural, or humanitarian character” and “to be a centre for harmonizing the actions of nations in the attainment of these common ends”. The principles of the Charter are particularly relevant in addressing the current challenges.

The United Nations, on the basis of its universal membership and legitimacy, is well positioned to participate in various reform processes aimed at improving and strengthening the effective functioning of the international financial system and architecture.

This United Nations Conference is part of our collective effort towards recovery. It builds on and contributes to what already is being undertaken by diverse actors and in various forums, and is intended to support, inform and provide political impetus to future actions. This Conference also highlights the importance of the role of the United Nations in international economic issues.

[etc.]

http://www.un.org/ga/search/view_doc.asp?symbol=A/CONF.214/3&Lang=E

***

Equity Funds –

wikipedia entry

http://en.wikipedia.org/wiki/Stock_fund

A stock fund or equity fund is a fund that invests in equities more commonly known as stocks. Stock funds are contrasted with bond funds and money funds.

Fund assets are typically mainly in stock, with some amount of cash, which is generally quite small, as opposed to bonds, notes, or other securities. This may be a mutual fund or exchange-traded fund.

The objective of an equity fund is long-term growth through capital gains, although historically dividends have also been an important source of total return. Specific equity funds may focus on a certain sector of the market or may be geared toward a certain level of risk.

Stock funds can be distinguished by several properties. Funds may have a specific style, for example, value or growth. Funds may invest in solely the securities from one country, or from many countries. Funds may focus on some size of company, that is, small-cap, large-cap, et cetera.

Funds which involve some component of stock picking are said to be actively managed, whereas index funds try as well as possible to mirror specific stock market indices.
Contents

* 1 Fund types
o 1.1 Index fund
o 1.2 Growth fund
o 1.3 Value fund
o 1.4 Sector fund
* 2 Income fund
* 3 Balanced fund
* 4 Asset allocation fund
* 5 Fund of funds
* 6 Hedge funds
* 7 See also

Fund types –

Index fund

Index funds invest in securities to mirror a market index, such as the S&P 500. An index fund buys and sells securities in a manner that mirrors the composition of the selected index.

The fund’s performance tracks the underlying index’s performance. Turnover of securities in an index fund’s portfolio is minimal. As a result, an index fund generally has lower management costs than other types of funds.

Growth fund

A growth fund invests in the stocks of companies that are growing rapidly. Growth companies tend to reinvest all or most of their profits for research and development rather than pay dividends. Growth funds are focused on generating capital gains rather than income.

Value fund

This is a fund that invests in “value” stocks. Companies rated as value stocks usually are older, established businesses that pay dividends.

Sector fund

A fund that invests in one area of industry is called a sector fund. Most sector funds have a minimum of 25% of their assets invested in its specialty. These funds offer high appreciation potential, but may also pose higher risks to the investor. Examples include gold funds (gold mining stock), technology funds, and utility funds.

Income fund

An equity income fund stresses current income over growth. The funds objective may be accomplished by investing in the stocks of companies with long histories of dividend payments, such as utility stocks, blue-chip stocks, and preferred stocks.

Option income funds invest in securities on which options may by written and earn premium income from writing options. They may also earn capital gains from trading options at a profit. These funds seek to increase total return by adding income generated by the options to appreciation on the securities held in the portfolio.

Balanced fund

Balanced Funds invest in stocks for appreciation and bonds for income. The goal is to provide a regular income payment to the fund holder, while increasing its principal.


Asset allocation fund

These funds split investments between growth stocks, income stocks/bonds, and money market instruments or cash for stability. Fund advisers switch the percentage of holdings in each asset category according to the performance of that group. Example: A fund may have 60% invested in stocks, 20% in bonds, and 20% in cash or money market. If the stock market is expected to do well, that could switch to 80% stocks, and 10% each in both bond and cash investments. Conversely, if the stock market is expected to perform poorly, the fund would decrease its stock holdings.

Fund of funds

“Fund of funds” implies that the assets of a fund are other funds. The other funds may be stock funds, in which case the original fund can be called “fund of stock funds”. See fund of funds.

Hedge funds

“Hedge fund” is a legal structure. Hedge funds often trade stocks, but may trade or invest in anything else depending on the fund. See hedge fund.

See also
* Collective investment scheme
http://en.wikipedia.org/wiki/Collective_investment_scheme

* Investment management

http://en.wikipedia.org/wiki/Investment_management

* Venture capital

http://en.wikipedia.org/wiki/Venture_capital

Retrieved from “http://en.wikipedia.org/wiki/Stock_fund
Categories: Funds | Finance

http://en.wikipedia.org/wiki/Stock_fund

***

http://www.opb.state.ga.us/media/2167/gov_rec_afy08.pdf

Georgia Governor Purdue – Budget Recommendations 2008
gov_rec_afy08.pdf

http://www.opb.state.ga.us/media/2167/gov_rec_afy08.pdf

Department of Administrative Services
Department Financial Summary

Risk Management

$137,428,923

My Note –

So last year, the state of Georgia spent over $137 million dollars on risk management? No wonder there is a budget crisis.

**

Department of Banking and Finance
Department Financial Summary

Financial Institution Supervision
Purpose:
Provide for safe and sound operation of Georgia state-chartered financial institutions, and to protect the interests of the depositors, creditors, and shareholders of those institutions.
Recommended Change:
Transfer funds from the Chartering, Licensing and Applications / Non-Mortgage Entities program to the Financial Institution Supervision program to properly budget funds for projected expenses. Restore operational funding for VOIP phone system for field offices.

1. $442,254
2. 181,025
Total Change $623,279

Mortgage Supervision
Purpose:
Protect customers from unfair, deceptive, or fraudulent residential mortgage lending practices and enforceapplicable laws and regulations.
Recommended Change:
Provide for safe and sound operation of Georgia state-chartered financial institutions, and to protect the interests
of the depositors, creditors, and shareholders of those institutions.
1. $12,316
Total Change $12,316

Administration – (for department of banking and finance)
State General Funds       $1,876,614             $173,210            $2,049,824
Total Funds                     $1,876,614              $173,210            $2,049,824

http://www.opb.state.ga.us/media/2167/gov_rec_afy08.pdf

***
Department of Corrections
Program Budget Financial Summary

Probation Supervision
State General Funds            $82,167,745         $1,069,332            $83,237,077

My Note –
every person pays fee for probation supervision monthly which covers the costs of that probation and every county and city, state and federal system is paying for this through using the tax money and fees levied against each petty offense as well.

http://www.opb.state.ga.us/media/2167/gov_rec_afy08.pdf

***

* Court fees

Florida, Georgia, Iowa, Minnesota, Nevada and Utah raised court fees.

http://www.reuters.com/article/domesticNews/idUSTRE55N2O820090626?pageNumber=3&virtualBrandChannel=0

***

From the FY 2009 Budget – (Georgia Governor’s Recommendations)

Post-secondary studies are critical to preparing Georgians to compete in the challenging economic climate of this century. The FY 2009 budget includes $115 million to provide funding for enrollment growth in the university system. It also provides $237 million in bonds for continued expansion and enhancement of facilities at institutions around the state: $70 million for the School of Dentistry at the Medical College of Georgia, $33 million for an Engineering Technology Center at Southern Polytechnic State University, and $30 million for major repairs and renovations system-wide. For those students who choose a technical school career path, the FY 2009 budget includes $93 million in bonds to construct new facilities at technical colleges statewide.

http://www.opb.state.ga.us/media/2179/gov_rec_fy09.pdf

State Funds Surplus by Department

(numbers are from FY 2006, FY 2007)

Education, Department of           $10,806,643.46            $8,172,469.64

Community Health, Department of     $8,671,964.53     $69,344,281.39

*My Note –

So therefore, by cutting services and charging more, cutting programs and refusing to fill vacancies mandated to provide services – these surpluses reflect diverting funds to programs that the Republican administration in Georgia determine to suit themselves. That could be part of the problem . . .

And, considering the amount of money that our taxes are paying out for every last part of the University system, from buildings and land to teachers’ salaries, administration costs, overhead and operating costs – why does any one have to pay again just to attend? That is obscene considering the tuitions and fees being charged.

Every dorm has been built with tax money, every piece of equipment for labs and sports and every administrative computer, xerox machine, telephone and security service, among other things have been purchased and paid for with tax moneys from the state, county, cities and federal budgets.

Those “public moneys” are our paid taxes, service fees, and every other excuse to take money that each citizen has earned.

Is there something wrong with their math skills or is it just another American racket of greed and profiteering?

– cricketdiane, 06-27-09

***

UNIVERSITY SYSTEM
$114,715,169 is recommended to recognize a 3.36
percent increase in credit hours, bringing the total
number of hours generated to 6,843,691. The credit
hours were generated by a student body of 266,444
students engaged in post-secondary education
activities. Both numbers represent an all-time high for
the University System of Georgia (USG).
$6,500,000 in additional funding for Georgia
Gwinnett College (GGC) to assist with start up and
accreditation requirements is recommended as part
of the USG budget – GGC is the first new college in
the University System since 1970. The first freshman
class of 852 students started in the fall of 2007.
$14,464,286 to provide the first year of funding for
the Board of Regents’ Retiree Health Benefit Fund to
assist in meeting the Regents’ OPEB liability.
$1,000,000 to increase funding for books and
materials for public libraries in addition to $125,431 to
increase the public library state grants formula based
on an increase in state population.
$216,905,000 in bonds recommended for University
System of Georgia (USG) capital outlay projects,
specifically targeting Georgia’s priority educational
needs including a School of Dentistry at Medical
College of Georgia, a nursing and health building at
Gordon College, a new preparatory school at Georgia
Military College, an Engineering Technology Center at
Southern Polytechnic State University, and a teacher
education building at Macon State College.
$35,000,000 in cash and $30,000,000 in general
obligation bonds for major rehabilitation and
renovation on USG’s 35 campuses, representing an
investment in the nearly 75 million square feet of real
property operated and maintained by the University
System.
$700,000 for the Agricultural Experiment Station and
$300,000 for the Cooperative Extension Service
to provide for ongoing maintenance and operating
needs across the state.
$800,000 to complete infrastructure improvements at
the UGA-Griffin campus.
$7,161,000 to expand Medical College of Georgia
course offerings to regional campuses throughout
Georgia to encourage an increase in medical school
enrollment. $159,000 to add 13 residency slots at
teaching hospitals as part of an effort to increase
the number of physicians practicing in underserved
portions of the state. Currently, Georgia ranks 35th in
the nation in physicians per capita.

TECHNICAL AND ADULT EDUCATION
$93,150,000 in bonds for new construction projects
and equipment for the technical college system
(pp.11)

http://www.opb.state.ga.us/media/2179/gov_rec_fy09.pdf

***

$9,800,000 in bonds to acquire property, design, and
construct additional parking at the Georgia World
Congress Center.

http://www.opb.state.ga.us/media/2179/gov_rec_fy09.pdf

My Note –

For durn near $10 million dollars, I could find them a damn parking place. That is obscene while there are programs being cut all over the state and metro Atlanta counties which help people and communities through this difficult economic time. It is obvious that the decision-makers value concrete more than people and their own convenience over using tax money to do other things that improve the opportunities for the citizens of Georgia.

***

http://www.onegeorgia.org/

Economic vitality in rural Georgia is the singular goal of the OneGeorgia Authority – and we have the tools to help make it happen. From land acquisition, infrastructure development, airport enhancements and broadband creation to machinery purchases, business relocation assistance and entrepreneur support, OneGeorgia provides grants and loans for these economic development activities to qualified applicants.

Our task at the OneGeorgia Authority is to serve as a financial partner and catalyst in helping our rural communities maintain excellent quality of life advantages while also creating sustainable and diversified economies. Local governments, local-government authorities, joint or multi-county development authorities, lending institutions and airport authorities are qualified applicants. Learn if your geographic area is eligible. Learn more about our programs.
News

Governor Perdue Announces OneGeorgia Awards

Governor Perdue Announces $16.2 million in OneGeorgia Awards

Wednesday, June 24, 2009

BRUNSWICK, GA –Governor Sonny Perdue and members of the OneGeorgia …


Featured Project

Southeast Georgia RDA– building expansion

May 20, 2009

On June 1, 2007, OneGeorgia awarded an Equity loan of $488,541 to the Southeast Georgia Regional Development Authority to support the expansion of the Michigan Blueberry Growers processing facility in Alma. The Equity loan was used for building construction of a pre-cooler building, dry storage room and office space. The expansion will provide much needed cooling space to support the continued growth of blueberries in Georgia. In 1983, a member-owned blueberry marketing cooperative, founde…
Read More »

Map of awards in Georgia, does not include metro Atlanta, Savannah and areas next to the state line with SC and NC

http://www.onegeorgia.org/awards-map/all

***

Grant & Loan Awards: Bartow County
Program
Amount
Equity
Date Awarded
03/07/2008

Amount
$500,000

Equity funds to assist with the construction of 30 T-hangars at the Level III Cartersville-Bartow Regional Airport. Currently the Airport houses 120 private aircraft permanently based at the airport, spread among 60 T-hangars, 50 tie-downs and corporate hangars. There are currently no vacancies for T-hangar space and a waiting list of 100. The new hangars will add economic development capacity, meet an airport need, generate new taxes and encourage tourism. The Airport is ranked by the DOT as number one in the nine airports within Region One and 7th highest in economic activity compared with all 94 general aviation airports in Georgia. Shaw Industries and Anheuser-Busch use the Airport regularly to fly executives in and out for meetings. Georgia Power bases its aerial patrols and resource management there. Phoenix Air Group, a worldwide airline services company and fixed based operator at the Airport, will handle the rental of the hangars. The Company provides many services including electronic warfare training to militaries; air charter, fuel, and advanced flight school services.

http://www.onegeorgia.org/awards/Bartow

***

This is what awaits the rest of us not on Wall Street

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http://www.reuters.com/article/domesticNews/idUSTRE50F0WB20090116
In U.S. recession, poverty strikes middle class
Thu Jan 15, 2009 9:33pm EST
By Lucia Mutikani

WASHINGTON (Reuters)
About 37.3 million Americans were living in poverty in 2007, or about 12.5 percent of the population, according to the government, which defines poverty as an annual income of $21,203 or less for a family of four.

UNEMPLOYMENT FUELING POVERTY

The worst financial crisis since the Great Depression of the 1930s, ignited by the collapse of the U.S. housing market, has sent the U.S. economy into a downward spiral.

Government data shows the unemployment rate jumped to 7.2 percent in December, the highest in nearly 16 years, as companies cut jobs to cope with a shrinking economy.

“My guess is poverty is going to go up from around 12.5 percent now by about half percentage point to 13 percent,” said Rebecca Blank, a senior fellow at the Brookings Institution in Washington. “The main driving factor is rising unemployment.”

Wall Street gets help for laid off employees

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It certainly was quick for the stock market bunch to get government money available and easy accelerated paths to start their own businesses using our money –

Why can’t that be done for the rest of our economy and throughout the rest of the country? Why do they get money to start their own businesses and government help to mentor it, get through the regulations and be given an easy path of accessibility but the rest of us are either shut out of the business system or hindered from even starting by excessive fees and regulations?

http://www.reuters.com/article/domesticNews/idUSTRE50F0KO20090116

Help laid-off Wall Streeters start new firms: mayor

Thu Jan 15, 2009 9:08pm EST

NEW YORK (Reuters) – New York City will help laid-off Wall Streeters switch industries by training them for new jobs and will work with foundations to set up boot camps for entrepreneurs, Mayor Michael Bloomberg said on Thursday.

Bloomberg, in his eighth State of the City address, pinned the city’s future on hanging onto the bankers and brokers whom critics fault for driving Wall Street to the brink.

Along with $30 million of federal incentives for new financial firms, keeping these individuals will ensure the city stays a financial capital and shares in Wall Street’s eventual revival.

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* What if corporations have been converting assets into investment portfolios? Then they are now in the business of managing those portfolios rather than in the running of the business they are in.

* Statistics are a strange animal. Unlike foxbusiness reported a couple months ago, when statistics show a percentage of homes in foreclosure or default, it does not in any way imply that the greater percentage are being paid on time.

If 5% of the homes are in default, that does not mean that 95% are not. Especially as over 4 million homes have already been foreclosed in the past five years. Obviously, 95% are part of a total that excludes all the homes that have already been foreclosed.

It fails to accomplish the task of statistics, which is to provide an accurate overview of the magnitude of the problem.

* There is a chart that shows a huge number of homes whose mortgages will be resetting over the first six months of 2009. The number of jobs lost, layoffs and business closings that have created our substantial unemployment will have rippling effects through our economy that have not been tallied yet. Neither of these facets in the economy have been accurately projected by the “experts” as seen on the news and likely those advising our government leaders.

http://www.iht.com/articles/2008/08/03/business/mortgage.php

October 16, 2007
The Honorable Barney Frank Chairman Committee on Financial Services House of Representatives
The Honorable Spencer Bachus Ranking Member Committee on Financial Services House of Representatives
Subject: Information on Recent Default and Foreclosure Trends for Home Mortgages and Associated Economic and Market Developments
Substantial growth in the mortgage market in recent years has helped many Americans become homeowners. However, as of the latest quarterly data available, June 2007, more than 1 million mortgages were in default or foreclosure, an increase of 50 percent compared with June 2005.1 Defaults and foreclosures on home mortgages can impose significant costs on borrowers, lenders, mortgage investors, and neighborhoods. Additionally, recent increases in defaults and foreclosures have contributed to concern and increased volatility in certain U.S. and global financial markets. These developments have raised questions about the extent and causes of problems in the mortgage market.

http://www.gao.gov/new.items/d0878r.pdf

***

tk3 31 days ago
That is how fascist and even socialists attempt to ru(i)n a country;
Now the U.S. presses printing money are melting while more overseas investors are closing their investment checkbooks.

Only the tip of the iceberg showing so far as the U.S. government has loaned, invested or committed …

* $200 billion to nationalize the world’s two largest mortgage companies, Fannie Mae and Freddie Mac;

* $25 billion for the Big Three auto manufacturers;

* $29 billion for Bear Stearns;

* $150 billion for AIG;

* $350 billion for Citigroup;

* $300 billion for the Federal Housing Administration rescue bill to refinance bad mortgages;

* $87 billion to pay back JPMorgan Chase for bad Lehman Brothers trades;

* $200 billion in loans to banks under the Fed’s Reserve Term Auction Facility (TAF);

* $50 billion to support short-term corporate IOUs held by money market mutual funds;

* $500 billion to rescue various credit markets;

* $620 billion for industrial nations, including the Bank of Canada, Bank of England, Bank of Japan, National Bank of Denmark, European Central Bank, Bank of Norway, Reserve Bank of Australia, Bank of Sweden, and Swiss National Bank;

* $120 billion in aid for emerging markets, including the central banks of Brazil, Mexico, South Korea and Singapore;

* Trillions to guarantee the FDIC’s new, expanded bank deposit insurance coverage from $100,000 to $250,000; plus …

* More trillions for other sweeping guarantees.

The grand total? A mind-blowing $7.8 trillion and counting!

– This was a comment found here –

U.S. mortgage foreclosures, delinquencies hit record high

By Steve Kerch
Last update: 10:00 a.m. EST Dec. 5, 2008
SAN FRANCISCO (MarketWatch) — The percentage of U.S. mortgage holders who were behind in their payments soared to a record 6.99% of loans outstanding in the third quarter, the Mortgage Bankers Association said Friday, and foreclosures were also at new highs. Just under 3% of U.S. mortgages were somewhere in the foreclosure process, and MBA Chief Economist Jay Brinkmann said mounting job losses were sure to send that figure higher in coming months. Problem loans in California and Florida accounted for much of the increase, the MBA said. More than 19.5% of all subprime loans were seriously delinquent in the quarter, meaning they were more than 30 days past due. End of Story
***

http://www.newyorkfed.org/mortgagemaps/

***

My comments – (continued)

People without jobs and those whose hours have been cut at their existing jobs do not spend money in the same way as those fully employed.

Although living with limited or no income is far more expensive than living with a substantial income, the variety of choices for spending money also changes. For instance, more is spent on food and less on clothing. The choices change and with limited means, it is far more difficult to get good deals on what is purchased.

In a larger sense, this means that mall stores will see a drop in sales and there will not likely be repurchase power for homes over quite some time. Restaurants will no longer have as extensive a customer base nor as regular a repeat business. Frequency of customer use in many businesses will be lost. And, new customers won’t be available either.

People don’t paint houses they don’t own unless that is their business to provide. They don’t remodel or put upgraded flooring or appliances in houses that have been lost. They’re not going to buy new bedding or window treatments for the guest room when they now live with relatives or in the homeless shelter.

All of which begs the question – what happens when everyone is selling and no one is buying? Will businesses continue to go to their conventions, rent hotel rooms, buy airfare for employees and attend seminars? Will those industries suffer, too?

Will businesses continue to buy advertising to promote themselves to an audience who can no longer buy their products and services? Will the printing, advertising and promotions businesses still continue without the customer base available for their services?

Or, does it matter, because businesses have become investment portfolio managers rather than retailers, manufacturers, service providers or whatever? How long will that hold out when they are losing the money that is coming in the door from the customer base they used to enjoy?

It certainly answers the question about what CEOs are paid to do. Apparently, they are the hedge fund managers of the companies’ portfolios of investments, stocks, bonds and credit default swaps. Those aren’t profits derived from their initial and primary business foundation. Ultimately, this puts no footing under their business whatsoever and undermines the very substance of their original business model.

***

So, as it turns out, the US government could have given a million dollars each to every man, woman and child, legal citizen or not, living in the US and solved the problems we face. Everyone could have paid off their mortgages, bought new cars, bought new clothes, appliances and goodies, paid for college educations, started new businesses and had money to live on for awhile.

It would’ve cost less than what they’ve done and solved nearly all the problems in our economy. And, for what they’ve spent now doing it their way and the way their favorite lobbyists for the bankers and chamber of commerce have insisted, every aspect of economic blight, weakness and disruption still exists. It hasn’t even made a dent in it of any significance and in fact, may very well contribute to a continuation and deepening of these economic difficulties.

Who taught these people in Washington to think? Are they capable of generating real solutions in that environment at all? Who let the bankers loan money they didn’t have in the first place? Who let corporations become hedge fund managers instead of pursuing better business practices for their primary products and services in the marketplace?

Who decided to bailout their friends with our money on a blank check instead of eradicating bad and nearly criminal business methods that are causing the problems? And, then who was it that turned around and blamed us for their ineptitude, lack of action to resolve these issues and unwillingness to serve the greater good?

There seems to be a certain inbreeding of thought and perception among the business leaders, financiers and politicians in our country. Are they capable of knowing the difference between using the real facts to direct decisions and falling prey to perception management which alters the facts to suit some particular outcome? Are they in a position to even discern the difference?

It is no longer a matter of what is left or right, conservative or liberal, business or non-business – when the tangible assets of our country are being converted to rubble and ruin. It isn’t a choice of who is capable of swaying the public opinion when the public is living with the outcome in every real sense and losing the opportunities of today and their future is constrained.

And, how could anyone believe that a $500 a year reduction on our federal tax bill make up for the tax increases that every state, county and local government is currently adding? Why don’t they just leave the tax codes alone and give the states the money they need?

By the time every fee is raised, every sort of tax is increased in every city, county, state and every other federal tax is hiked – none of us will have any money to spend anyway. Well over 50% of every income is already going to the government now. If it isn’t taxed one way, it is taxed another. There is a steady increase even today, of every tax and fee charged by the government and these were already inflated and exorbitant in many cases as it was.

I guarantee – it won’t be our children’s children that pay for this mess and the pathetic excuse for the “solutions” they’ve called bailouts and buying of bad debt by our government. It will be each of us and our children in the coming days, weeks, months and years that will be paying for it.

Our communities don’t exist to serve the needs of the community any more – they stand desolate and increasingly, in disrepair – their tax base has been destroyed – the very fibers of the communities have been decimated. How will taking $500 off our taxes two years from now fix any of that?

– cricketdiane, Cricket House Studios, Cricket Diane C Phillips, 01-05-09

Definitely check this out –

http://www.newyorkfed.org/mortgagemaps/

Econometrica – International Econometrics Society and Contacts – US economic crisis – Global economic crisis – 2008

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http://www.econometricsociety.org/

Welcome to the Econometric Society Website

The Econometric Society is an international society for the advancement of economic theory in its relation to statistics and mathematics. The main activities of the Society are:

* Publication of the journal Econometrica.
* Publication of a research Monograph Series.
* Organization of scientific meetings in six regions of the world.

The website is open for all visitors. Log in is only required for online access to all papers published in Econometrica since 1933 and all Research Monographs, as well as to amend membership details.

Contacts

The Econometric Society

Claire Sashi, General Manager
Department of Economics
New York University
19 West Fourth Street, 6th Floor
New York, NY 10012
Phone 1-212-998-3820
Fax 1-212-995-4487
Email sashi@econometricsociety.org

Econometrica – Editor’s office

Mary Beth Bellando, Editorial Assistant
Department of Economics
Princeton University
Fisher Hall,
Princeton,
NJ 08544-1021, USA
Phone609-258-4768
Fax609-258-8844
Emaileconometrica@econometricsociety.org
Monographs in economic theory

Professor Matthew O. Jackson
Department of Economics
Stanford University
Stanford California 94305-6072, USA
Email jacksonm@stanford.edu

Monographs in theoretical and applied econometrics

Professor Andrew Chesher
Department of Economics
University College London
Gower Street
London WC1E 6BT, U.K.
Email andrew.chesher@ucl.ac.uk

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