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April 26, 2012
Gar Alperovitz is a professor of Political Economy at the University of Maryland. A former Fellow of King's College, a founding Fellow of the Harvard IOP, a Fellow at the Institute for Policy Studies, and a Guest Scholar at the Brookings Institution, he has testified before numerous Congressional committees and lectures widely around the country. He is recognized as a key figure in the revival of political canvassing and a strong proponent of transforming ownership. He is a founding principal of the Democracy Collaborative at UMD, on the board of Directors for the New Economics Institute, and the author of several critically acclaimed books and articles, including "Another World is Possible, America Beyond Capitalism", and work on atomic diplomacy.
Gar Alperovitz - America Beyond Capitalism
Gar Alperovitz is a professor of Political Economy at the University of Maryland. A former Fellow of King's College, a founding Fellow of the Harvard IOP, a Fellow at the Institute for Policy Studies, and a Guest Scholar at the Brookings Institution, he has testified before numerous Congressional committees and lectures widely around the country. He is recognized as a key figure in the revival of political canvassing and a strong proponent of transforming ownership. He is a founding principal of the Democracy Collaborative at UMD, on the board of Directors for the New Economics Institute, and the author of several critically acclaimed books and articles, including "Another World is Possible, America Beyond Capitalism", and work on atomic diplomacy.
April 26, 2012
from 24/7WallStreet:
More Evidence of U.S. Home Market Crater
Posted: April 26, 2012 at 6:42 am
It is one thing for researchers to estimate what portion of Americans own their homes. It is another for Americans to say for themselves whether they own a home. A new poll from Gallup shows that home ownership is at a decade low. And the figure probably will not get better soon. One reason is that about half of owners claim their homes are underwater, which makes the sale of those homes much less likely.
Gallup’s new poll reports:
The data coincide nicely with new S&P/Case-Shiller numbers. The research firm reported that the value of homes reached down to 2002 levels in many of the top-20 U.S. markets it measures. Once again, that means many of these houses are worth less than the mortgages on them. That is almost certainly true for homes bought up to and during the housing bubble. Some metro markets have home prices which are down over 40% from 2006.
The single bright spot in the Gallup data is that:
This matches with new information from real estate research firm Zillow:
The critical difference between the self-reported data about home ownership and the predicted state of the housing market in the future is that many Americans have been wrong about the prices of homes for several years. A substantial portion of people have believed, throughout the housing slide, that next year and the next will be better. That optimism has been badly placed, and it may be again. Hope has not matched evidence since 2006. As Case-Shiller and other data show, there is little in the real world of home prices to change that soon.
More Evidence of U.S. Home Market Crater
http://247wallst.com/2012/04/26/more-evidence-of-u-s-home-market-crater/#ixzz1t9WsLpAPfrom 24/7WallStreet:
More Evidence of U.S. Home Market Crater
Posted: April 26, 2012 at 6:42 am
It is one thing for researchers to estimate what portion of Americans own their homes. It is another for Americans to say for themselves whether they own a home. A new poll from Gallup shows that home ownership is at a decade low. And the figure probably will not get better soon. One reason is that about half of owners claim their homes are underwater, which makes the sale of those homes much less likely.
Gallup’s new poll reports:
The 62% of Americans who tell Gallup they own their own home is the lowest in more than a decade. Just over half of homeowners (53%) say their house is worth more than when they bought it, down from 80% in 2008.
The data coincide nicely with new S&P/Case-Shiller numbers. The research firm reported that the value of homes reached down to 2002 levels in many of the top-20 U.S. markets it measures. Once again, that means many of these houses are worth less than the mortgages on them. That is almost certainly true for homes bought up to and during the housing bubble. Some metro markets have home prices which are down over 40% from 2006.
The single bright spot in the Gallup data is that:
Americans are much more positive about the direction of housing prices this year than they were last year. They are significantly more likely to expect the average price of houses in their area to increase over the next 12 months than to decrease, 33% vs. 23%. Last year, Americans were about evenly split, 28% to 30%.
This matches with new information from real estate research firm Zillow:
Nineteen of the 30 metro areas covered by the Zillow Home Value Forecast will reach a bottom in 2012, or have already reached a bottom.
The critical difference between the self-reported data about home ownership and the predicted state of the housing market in the future is that many Americans have been wrong about the prices of homes for several years. A substantial portion of people have believed, throughout the housing slide, that next year and the next will be better. That optimism has been badly placed, and it may be again. Hope has not matched evidence since 2006. As Case-Shiller and other data show, there is little in the real world of home prices to change that soon.
April 26, 2012
(Bloomberg) More Americans than forecast filed applications for unemployment benefits last week, a sign that the labor market is taking time to improve.
Jobless claims fell by 1,000 to 388,000 in the week ended April 21 from a revised 389,000 the prior period that was the highest since early January, Labor Department figures showed today in Washington. The median forecast of 48 economists surveyed by Bloomberg News called for a drop to 375,000.
Fewer layoffs are needed to lay the groundwork for more hiring, which in turn should support consumer spending, the biggest part of the economy. Federal Reserve policy makers yesterday said that while labor-market conditions have improved, the unemployment rate “remains elevated,” helping explain why they stuck to a plan to hold borrowing costs close to zero through 2014.
“It’s just so hard for companies to be confident and start hiring,” said Yelena Shulyatyeva, a U.S. economist at BNP Paribas in New York, who correctly projected the level of jobless claims. “We believe that March is probably not the end of the modest readings on payrolls.” ....................(more)
The complete piece is at: http://www.bloomberg.com/news/2012-04-26/more-americans-than-projected-filed-jobless-claims-last-week.html
More Americans Than Projected Filed Jobless Claims Last Week
(Bloomberg) More Americans than forecast filed applications for unemployment benefits last week, a sign that the labor market is taking time to improve.
Jobless claims fell by 1,000 to 388,000 in the week ended April 21 from a revised 389,000 the prior period that was the highest since early January, Labor Department figures showed today in Washington. The median forecast of 48 economists surveyed by Bloomberg News called for a drop to 375,000.
Fewer layoffs are needed to lay the groundwork for more hiring, which in turn should support consumer spending, the biggest part of the economy. Federal Reserve policy makers yesterday said that while labor-market conditions have improved, the unemployment rate “remains elevated,” helping explain why they stuck to a plan to hold borrowing costs close to zero through 2014.
“It’s just so hard for companies to be confident and start hiring,” said Yelena Shulyatyeva, a U.S. economist at BNP Paribas in New York, who correctly projected the level of jobless claims. “We believe that March is probably not the end of the modest readings on payrolls.” ....................(more)
The complete piece is at: http://www.bloomberg.com/news/2012-04-26/more-americans-than-projected-filed-jobless-claims-last-week.html
April 26, 2012
from truthdig:
The NSA Is Watching You
Posted on Apr 25, 2012
By Amy Goodman
Three targeted Americans: A career government intelligence official, a filmmaker and a hacker. None of these U.S. citizens was charged with a crime, but they have been tracked, surveilled, detained—sometimes at gunpoint—and interrogated, with no access to a lawyer. Each remains resolute in standing up to the increasing government crackdown on dissent.
The intelligence official: William Binney worked for almost 40 years at the secretive National Security Agency (NSA), the U.S. spy agency that dwarfs the CIA. As technical director of the NSA’s World Geopolitical and Military Analysis Reporting Group, Binney told me, he was tasked to “see how we could solve collection, analysis and reporting on military and geopolitical issues all around the world, every country in the world.” Throughout the 1990s, the NSA developed a massive eavesdropping system code-named ThinThread, which, Binney says, maintained crucial protections on the privacy of U.S. citizens demanded by the U.S. Constitution. He recalled, “After 9/11, all the wraps came off for NSA,” as massive domestic spying became the norm. He resigned on Oct. 31, 2001.
Along with several other NSA officials, Binney reported his concerns to Congress and to the Department of Defense. Then, in 2007, as then-Attorney General Alberto Gonzales was being questioned on Capitol Hill about the very domestic spying to which Binney objected, a dozen FBI agents charged into his house, guns drawn. They forced aside his son and found Binney, a diabetic amputee, in the shower. They pointed their guns at his head, then led him to his back porch and interrogated him.
Three others were raided that morning. Binney called the FBI raid “retribution and intimidation so we didn’t go to the Judiciary Committee in the Senate and tell them, ‘Well, here’s what Gonzales didn’t tell you, OK.’ ” Binney was never charged with any crime. ..................(more)
The complete piece is at: http://www.truthdig.com/report/item/the_nsa_is_watching_you_20120425/
Amy Goodman: The NSA Is Watching You
from truthdig:
The NSA Is Watching You
Posted on Apr 25, 2012
By Amy Goodman
Three targeted Americans: A career government intelligence official, a filmmaker and a hacker. None of these U.S. citizens was charged with a crime, but they have been tracked, surveilled, detained—sometimes at gunpoint—and interrogated, with no access to a lawyer. Each remains resolute in standing up to the increasing government crackdown on dissent.
The intelligence official: William Binney worked for almost 40 years at the secretive National Security Agency (NSA), the U.S. spy agency that dwarfs the CIA. As technical director of the NSA’s World Geopolitical and Military Analysis Reporting Group, Binney told me, he was tasked to “see how we could solve collection, analysis and reporting on military and geopolitical issues all around the world, every country in the world.” Throughout the 1990s, the NSA developed a massive eavesdropping system code-named ThinThread, which, Binney says, maintained crucial protections on the privacy of U.S. citizens demanded by the U.S. Constitution. He recalled, “After 9/11, all the wraps came off for NSA,” as massive domestic spying became the norm. He resigned on Oct. 31, 2001.
Along with several other NSA officials, Binney reported his concerns to Congress and to the Department of Defense. Then, in 2007, as then-Attorney General Alberto Gonzales was being questioned on Capitol Hill about the very domestic spying to which Binney objected, a dozen FBI agents charged into his house, guns drawn. They forced aside his son and found Binney, a diabetic amputee, in the shower. They pointed their guns at his head, then led him to his back porch and interrogated him.
Three others were raided that morning. Binney called the FBI raid “retribution and intimidation so we didn’t go to the Judiciary Committee in the Senate and tell them, ‘Well, here’s what Gonzales didn’t tell you, OK.’ ” Binney was never charged with any crime. ..................(more)
The complete piece is at: http://www.truthdig.com/report/item/the_nsa_is_watching_you_20120425/
April 26, 2012
from YES! Magazine:
In Japan, a Mothers’ Movement Against Nuclear Power
The Fukushima disaster has brought a powerful new demographic to Japan's anti-nuclear movement: mothers.
by Heidi Hutner
posted Apr 25, 2012
On the one-year anniversary of the Fukushima nuclear disaster, Japanese women in New York City gathered for a rally they called Pregnant With Fear of Radiation. Protestors wore fake pregnant bellies, or carried posters with images of pregnant women wearing face masks.
Well aware that fetuses, children under five, and women are at the greatest risk from radiation exposure, mothers have emerged as a powerful voice in Japan’s growing anti-nuclear movement.
To call attention to their message, the mothers have organized marches, petitioned government officials, fasted, and held months-long sit-ins in public locations. They regularly wear symbols of maternity and motherhood in deliberately confrontational ways.
The mothers call for action on multiple fronts. Most immediately, they demand the evacuation of all the families of Fukushima, where radiation emissions continue. They ask for tougher safety standards for food and drink in Japan, and an end to the practice of spreading and burning radioactive rubble from the contaminated zone throughout the country’s various prefectures. And, to prevent future disasters, they call for the permanent closure of all nuclear power plants in Japan and throughout the world. ............(more)
The complete piece is at: http://www.yesmagazine.org/peace-justice/in-japan-a-mothers-movement-against-nuclear-power
In Japan, a Mothers’ Movement Against Nuclear Power
from YES! Magazine:
In Japan, a Mothers’ Movement Against Nuclear Power
The Fukushima disaster has brought a powerful new demographic to Japan's anti-nuclear movement: mothers.
by Heidi Hutner
posted Apr 25, 2012
On the one-year anniversary of the Fukushima nuclear disaster, Japanese women in New York City gathered for a rally they called Pregnant With Fear of Radiation. Protestors wore fake pregnant bellies, or carried posters with images of pregnant women wearing face masks.
Well aware that fetuses, children under five, and women are at the greatest risk from radiation exposure, mothers have emerged as a powerful voice in Japan’s growing anti-nuclear movement.
To call attention to their message, the mothers have organized marches, petitioned government officials, fasted, and held months-long sit-ins in public locations. They regularly wear symbols of maternity and motherhood in deliberately confrontational ways.
The mothers call for action on multiple fronts. Most immediately, they demand the evacuation of all the families of Fukushima, where radiation emissions continue. They ask for tougher safety standards for food and drink in Japan, and an end to the practice of spreading and burning radioactive rubble from the contaminated zone throughout the country’s various prefectures. And, to prevent future disasters, they call for the permanent closure of all nuclear power plants in Japan and throughout the world. ............(more)
The complete piece is at: http://www.yesmagazine.org/peace-justice/in-japan-a-mothers-movement-against-nuclear-power
April 26, 2012
from ColorLines:
The federal government got beat up today in the Supreme Court and if the Justices’ line of questioning is any sign, at least parts of Arizona’s SB 1070 are likely to stand. In the hearings, which began this morning at 10am and lasted for more than 20 minutes beyond the allotted time of an hour, the justices launched an aggressive line of questioning of the attorneys for the government and the state of Arizona.
As a general matter, the majority of the justices were skeptical of the federal government’s claim that Arizona’s SB 1070, which was enjoined soon after it’s passage by a lower court, fully preempts federal authority.
Most fundamentally, the justices took issue with the the government’s claim that the state of Arizona cannot mandate its cops to enforce immigration laws and detain undocumented immigrants. The argument here, which was central to Arizona’s appeal, is that the federal government regularly uses local police to detain undocumented immigrants through federal programs like the Secure Communities and 287g, which deputizes local police as immigration agents.
Paul Clement, who represented Arizona in the court said, “The Federal Government doesn’t like this statute, but they are very proud of their Secure Communities program. And their Secure Communities program also makes clear that everybody’s that’s booked at participating facilities is — eventually has their immigration status checked.” ...............(more)
The complete piece is at: http://colorlines.com/archives/2012/04/ive_just_left_the_supreme.html
Supreme Court Skeptical of Striking Down Arizona’s SB 1070
from ColorLines:
The federal government got beat up today in the Supreme Court and if the Justices’ line of questioning is any sign, at least parts of Arizona’s SB 1070 are likely to stand. In the hearings, which began this morning at 10am and lasted for more than 20 minutes beyond the allotted time of an hour, the justices launched an aggressive line of questioning of the attorneys for the government and the state of Arizona.
As a general matter, the majority of the justices were skeptical of the federal government’s claim that Arizona’s SB 1070, which was enjoined soon after it’s passage by a lower court, fully preempts federal authority.
Most fundamentally, the justices took issue with the the government’s claim that the state of Arizona cannot mandate its cops to enforce immigration laws and detain undocumented immigrants. The argument here, which was central to Arizona’s appeal, is that the federal government regularly uses local police to detain undocumented immigrants through federal programs like the Secure Communities and 287g, which deputizes local police as immigration agents.
Paul Clement, who represented Arizona in the court said, “The Federal Government doesn’t like this statute, but they are very proud of their Secure Communities program. And their Secure Communities program also makes clear that everybody’s that’s booked at participating facilities is — eventually has their immigration status checked.” ...............(more)
The complete piece is at: http://colorlines.com/archives/2012/04/ive_just_left_the_supreme.html
April 26, 2012
from ColorLines:
by Julianne Hing
Monday, April 23 2012, 8:44 AM EST
Gov. Bobby Jindal has remade the Louisiana public schools system with impressive speed over the past legislative session. Last week, he signed into law a suite of landmark reform bills that will likely change the direction of public education in Louisiana forever. But not all change is good, and critics say both Jindal’s agenda and the strategy to move it come right from the playbook of conservative advocacy group ALEC, in an effort to revive Jindal’s national political profile.
Louisiana is now home to the nation’s most expansive school voucher program. Charter school authorization powers have been broadened. And teacher tenure policies have been radically transformed. Louisiana already had something of a reputation as a radical-reform state, thanks to the post-Katrina educational climate in New Orleans. But not all change is good, and education advocates have deep concerns about the efficacy of Jindal’s overhaul, and the interests that have push it.
“With these laws Gov. Bobby Jindal has sold our kids out for his political aspirations,” said Karran Harper Royal, a Louisiana parent activist and education advocate.
The bills all sprinted through the state legislature. Committee hearings were conducted at a breakneck speed, Democratic lawmakers complained, and members were asked to vote on amendments they didn’t actually understand. When the House took up a bill changing teacher-tenure rules, it ran the session past midnight, refusing to break until they called for a vote. ...............(more)
The complete piece is at: http://colorlines.com/archives/2012/04/bobby_jindal_using_alec_playbook_signs_education_reform_overhaul.html
Bobby Jindal, Using ALEC Playbook, Radically Reshapes Public Education
from ColorLines:
by Julianne Hing
Monday, April 23 2012, 8:44 AM EST
Gov. Bobby Jindal has remade the Louisiana public schools system with impressive speed over the past legislative session. Last week, he signed into law a suite of landmark reform bills that will likely change the direction of public education in Louisiana forever. But not all change is good, and critics say both Jindal’s agenda and the strategy to move it come right from the playbook of conservative advocacy group ALEC, in an effort to revive Jindal’s national political profile.
Louisiana is now home to the nation’s most expansive school voucher program. Charter school authorization powers have been broadened. And teacher tenure policies have been radically transformed. Louisiana already had something of a reputation as a radical-reform state, thanks to the post-Katrina educational climate in New Orleans. But not all change is good, and education advocates have deep concerns about the efficacy of Jindal’s overhaul, and the interests that have push it.
“With these laws Gov. Bobby Jindal has sold our kids out for his political aspirations,” said Karran Harper Royal, a Louisiana parent activist and education advocate.
The bills all sprinted through the state legislature. Committee hearings were conducted at a breakneck speed, Democratic lawmakers complained, and members were asked to vote on amendments they didn’t actually understand. When the House took up a bill changing teacher-tenure rules, it ran the session past midnight, refusing to break until they called for a vote. ...............(more)
The complete piece is at: http://colorlines.com/archives/2012/04/bobby_jindal_using_alec_playbook_signs_education_reform_overhaul.html
April 26, 2012
(Bloomberg) Japan’s economic problems are serious and getting worse. Foremost among them is the crushing burden of government debt.
Japan’s ratio of government debt to gross domestic product, currently about 2.28, is by far the highest in the industrial world, almost double that of even Greece and Italy, and steadily growing. Already, the combined costs of interest on that debt and social security are approximately equal to total government tax revenue.
Japan’s trade balance is about to go negative for the first time since 1980. Land values and Nikkei stock values have fallen to about 30 percent of 1989 levels. Now, educated young Japanese women are emigrating, Japanese companies are shifting production overseas (even to the U.S.), national politics are in gridlock (six prime ministers in the past five years), and last year Japan experienced its first mass street protests in decades.
The economic troubles are symptoms of at least three sets of deeper social problems. Regardless of what policies Japan now adopts, its troubles can only increase unless those social problems are solved. While all three of these also beset other industrial societies, certain local attitudes make them more severe in Japan. ..................(more)
The complete piece is at: http://www.bloomberg.com/news/2012-04-25/three-reasons-japan-s-economic-pain-is-getting-worse.html
Three Reasons Japan’s Economic Pain Is Getting Worse
(Bloomberg) Japan’s economic problems are serious and getting worse. Foremost among them is the crushing burden of government debt.
Japan’s ratio of government debt to gross domestic product, currently about 2.28, is by far the highest in the industrial world, almost double that of even Greece and Italy, and steadily growing. Already, the combined costs of interest on that debt and social security are approximately equal to total government tax revenue.
Japan’s trade balance is about to go negative for the first time since 1980. Land values and Nikkei stock values have fallen to about 30 percent of 1989 levels. Now, educated young Japanese women are emigrating, Japanese companies are shifting production overseas (even to the U.S.), national politics are in gridlock (six prime ministers in the past five years), and last year Japan experienced its first mass street protests in decades.
The economic troubles are symptoms of at least three sets of deeper social problems. Regardless of what policies Japan now adopts, its troubles can only increase unless those social problems are solved. While all three of these also beset other industrial societies, certain local attitudes make them more severe in Japan. ..................(more)
The complete piece is at: http://www.bloomberg.com/news/2012-04-25/three-reasons-japan-s-economic-pain-is-getting-worse.html
April 26, 2012
NEW YORK — The problem of birds living near some of the nation's busiest airports is coming under renewed scrutiny after two emergency landings in a week and more than three years after the famous ditching of a jetliner in the Hudson River.
U.S. Sen. Kirsten Gillibrand on Wednesday proposed making it easier to round up geese from a federal refuge near Kennedy Airport and kill them, an idea that's meeting opposition from wildlife advocates.
A JetBlue plane bound for West Palm Beach, Fla., made an emergency landing at Westchester County Airport north of New York City on Tuesday. A Los Angeles-bound jet made an emergency landing at Kennedy Airport after a bird strike on the right engine a week ago.
No one was hurt, but Grant Cardone, a sales training consultant who was on the flight out of Kennedy and was filming video from his window in seat 1D as the birds hit the plane, said it was scary. ..............(more)
The complete piece is at: http://xfinity.comcast.net/articles/news-general/20120426/US.Flights.Bird.Strikes/?cid=hero_media
Senator seeks to allow goose kills near JFK airport
NEW YORK — The problem of birds living near some of the nation's busiest airports is coming under renewed scrutiny after two emergency landings in a week and more than three years after the famous ditching of a jetliner in the Hudson River.
U.S. Sen. Kirsten Gillibrand on Wednesday proposed making it easier to round up geese from a federal refuge near Kennedy Airport and kill them, an idea that's meeting opposition from wildlife advocates.
A JetBlue plane bound for West Palm Beach, Fla., made an emergency landing at Westchester County Airport north of New York City on Tuesday. A Los Angeles-bound jet made an emergency landing at Kennedy Airport after a bird strike on the right engine a week ago.
No one was hurt, but Grant Cardone, a sales training consultant who was on the flight out of Kennedy and was filming video from his window in seat 1D as the birds hit the plane, said it was scary. ..............(more)
The complete piece is at: http://xfinity.comcast.net/articles/news-general/20120426/US.Flights.Bird.Strikes/?cid=hero_media
April 26, 2012
No more backtracking on LRT
Metrolinx’a announcement Tuesday confirming council’s decision on LRT puts T.O. transit back on the rails – we hope.
By Enzo Di Matteo
Metrolinx has rendered its final decision on the subways-versus-LRT debate, and it’s light rail transit all the way on Sheppard and Finch and along Eglinton, just as council said it should be when it beat back Rob Ford’s Sheppard subway fantasy last month.
The mayor figures he’s still got time to kill this LRT business, since construction of the Sheppard East LRT isn’t slated to begin until 2014 and not until 2015 on Finch West.
Ford is already recruiting a slate to run in 2014 against councillors who defied his scheme to bury the Eglinton LRT east of Laird and extend the existing Sheppard subway from Don Mills to Scarborough Town Centre. Of course, we’ll be occupying a different political reality by then, one Ford is out of step with.
In the meantime, it’ll be a couple of years before the tunnel-boring machines now cutting under Eglinton get to Leaside, where the LRT is supposed to come above ground. We could conceivably have a whole new government in charge at Queen’s Park – and, seeing as the pendulum is swinging to the left, not necessarily the PCs Ford’s banking on. ............(more)
The complete piece is at: http://www.nowtoronto.com/news/story.cfm?content=186390
NOW Toronto: No more backtracking on LRT
No more backtracking on LRT
Metrolinx’a announcement Tuesday confirming council’s decision on LRT puts T.O. transit back on the rails – we hope.
By Enzo Di Matteo
Metrolinx has rendered its final decision on the subways-versus-LRT debate, and it’s light rail transit all the way on Sheppard and Finch and along Eglinton, just as council said it should be when it beat back Rob Ford’s Sheppard subway fantasy last month.
The mayor figures he’s still got time to kill this LRT business, since construction of the Sheppard East LRT isn’t slated to begin until 2014 and not until 2015 on Finch West.
Ford is already recruiting a slate to run in 2014 against councillors who defied his scheme to bury the Eglinton LRT east of Laird and extend the existing Sheppard subway from Don Mills to Scarborough Town Centre. Of course, we’ll be occupying a different political reality by then, one Ford is out of step with.
In the meantime, it’ll be a couple of years before the tunnel-boring machines now cutting under Eglinton get to Leaside, where the LRT is supposed to come above ground. We could conceivably have a whole new government in charge at Queen’s Park – and, seeing as the pendulum is swinging to the left, not necessarily the PCs Ford’s banking on. ............(more)
The complete piece is at: http://www.nowtoronto.com/news/story.cfm?content=186390
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