I didn’t watch very much of the horrific YouTube tape of four inner-city “youths” of color tormenting a special needs white kid – a tape that was all over the alternative media last week, and miracle of miracles, even made it to the national media, where incidents of black-on-white violence usually get to be covered, like with a pillow until they stop moving. It goes without saying that if the skin colors of victim and perpetrators had been reversed, just about every other national news story would have been driven off the front page and out of the first twenty minutes of national news for weeks. (Save perhaps one of the Kardashians bursting out of her dress like an overstuffed sausage in the middle of a top-drawer celebrity event.) I know that, you know that, we all are most tiresomely and cynically aware of that. Many would have been the chins tugged, NPR would have been consulting their golden rolodex for the most plummy-voiced commentator with an air of spurious authority over matters racial, CNN anchors and the correspondents of main-line news broadcasters over the world would have been hyperventilating in their efforts to keep up with the currently-fashionable expressions of condemnation of American racism, brutality, racism, cruelty to the ‘other’, white privilege, racism, the center-city of places like Chicago, Baltimore, St. Louis, Detroit (aside – is there anything left in Detroit to burn?) would have been going up in flames … so on and so forth, und so weiter. Read the rest of this entry »
Archive for the 'Urban Issues' Category
Posted by Kevin Villani on 17th December 2016 (All posts by Kevin Villani)
“The Department of] Housing and Urban Development has done an enormous amount of harm. My god, if you think of the way in which they have destroyed parts of cities under the rubric of eliminating slums … there have been many more dwelling units torn down in the name of public housing than have been built.” ~ Milton Friedman, Interview, Hoover Institution, February 10, 1999
President-elect Trump’s appointment of Dr. Ben Carson as Secretary of Housing and Urban Development is being criticized on the grounds that he lacks the requisite administrative experience. More likely, Carson’s affront was to question why HUD exists.
Republican presidents have been ambivalent. Having bigger fish to fry, President Reagan appointed Sam Pierce HUD Secretary so that he could ignore it. George H.W. Bush repaid Jack Kemp’s political opposition by first making him HUD Secretary and then frustrating his attempts to eliminate the Department. HUD Secretary Alphonso Jackson, appointed by George W., was allegedly focused on participating in the traditional kickback schemes while his Assistant Secretary for Housing pursued homeownership policies that contributed mightily to the financial crisis of 2008.
Democratic presidents have used it as a platform to pursue other agendas. Jimmy Carter’s HUD Secretary Patricia Harris introduced Fannie Mae housing goals – quotas – as punishment for not appointing a woman to the Board of Directors. Between scandals, Clinton’s HUD Secretary Henry Cisneros promoted the homeownership goals that left both the financial system and the new mortgage borrowers bankrupt.
HUD’s budget is relatively small as compared to other federal departments, but it has always punched far above its budget weight in destructive power. To put HUD’s annual budget of about $50 billion in perspective, the cost of the homeowner mortgage interest tax deduction is two to three times greater, but HUD’s “mission regulation” of financial institutions has given it influence or control over trillions more.
The initial political interest in housing during the Great Depression was entirely Keynesian, i.e., related to the short-term potential to create jobs and relieve cyclical unemployment – the “infrastructure investments” of that era. The Democrat’s approach to construction, management, and allocation of public housing was generally implemented to benefit builders and rife with corruption. FHA and Fannie Mae were chartered mostly as off-balance sheet financial institutions to stimulate housing production on the cheap.
The problem of urban development, as many politicians and urban analysts saw it in the 1960s, stemmed from the 1956 Eisenhower initiative to build highways financed by the National Interstate and Defense Highways Act, a byproduct of which was that more affluent people commuted from the suburbs while leaving poorer families behind. The pursuit of the American Dream of homeownership left city administrations accustomed to cross-subsidizing municipal services in fiscal distress, creating a vicious cycle: as services declined, more affluent households moved out.
The Housing and Urban Development Act in 1965 established HUD as a separate cabinet department as part of LBJ’s Great Society to give a greater priority to housing and urban issues. HUD inherited a mishmash of various New Deal federal programs, ranging from public rental housing to urban renewal, as well as financial oversight of FHA and Fannie Mae.
Faced with steep “guns and butter” budget deficits, LBJ focused on ways to further encourage off-balance-sheet financing of housing construction through “public-private partnerships.” Republicans, led by Senator Edward Brooke of Massachusetts, convinced by academic studies that the urban riots of the 1960s were the direct result of poor quality housing and the urban environment and by lobbyists for housing producers, supported the Housing and Urban Development Act of 1968. The “goal of a decent home and a suitable living environment for every American family” was first introduced in the 1949 Housing Act. Title XVI of the 1968 Act “Housing Goals and Annual Housing Report” introduced central planning without specifying the goals, a timetable for implementation, or a budget.
In the late 1960s, the Weyerhaeuser Corporation produced a forecast of single-family housing production in the coming decade to assist with tree planting. Congressional math wizards divided the total forecast by 10 to produce HUD’s annual housing production goals for the nation. For the next decade, HUD Secretaries were annually paraded before their Senate oversight Committee on Banking, Housing, and Urban Affairs to explain why they did or did not meet these production goals.
Republicans have historically supported rental housing vouchers for existing private rental units for privately built housing to minimize market distortions. Republican HUD Secretary Carla Hills in the Ford Administration pushed HUD’s Section 8 subsidies for existing housing – something arguably better administered as a negative income tax – as a political alternative to the Democrats’ push for a return to public housing construction. But as a further political compromise, the largely autonomous local public housing authorities would administer these vouchers, leading to the same concentration of crime and urban decay as public housing. To borrow a phrase from former House Speaker Newt Gingrich, “Republican social engineering” isn’t necessarily better than “Democratic social engineering.”
The economic goals of “affordable” housing have generally been in direct conflict with urban development. When I proposed demolishing the worst public housing projects and redeveloping the land, using the proceeds to fund subsidies for existing private market housing (something partially achieved during the Reagan Administration), Clinton Administration officials scoffed at the idea.
HUD combines socialist goals and fascist methods that seriously distort and undermine markets. There is neither market nor political discipline on the enormous scope of its activities. HUD met unfunded goals through financial coercion, undermining both Fannie Mae and Freddie Mac, and their commercial banking competitors, with the collusion of the Senate Committee responsible for both financial and housing oversight, leading to the sub-prime lending debacle of 2008.
There is no economic rationale for a federal role in housing or urban affairs in a market economy. HUD represents a continuing systemic threat for which there is no cure. May it RIP.
Kevin Villani, chief economist at Freddie Mac from 1982 to 1985, is a principal of University Financial Associates. He has held senior government positions, been affiliated with nine universities, and served as CFO and director of several companies. He recently published Occupy Pennsylvania Avenue on the political origins of the sub-prime lending bubble and aftermath.
This article was originally published on FEE.org. Read the original article.
One of the hallmarks of the housing recovery has been the historically low level of new-home construction, particularly at lower price points attainable for first-time buyers. Although a wide range of factors are at play, from slow wage growth to higher regulatory costs, builders say the FHA limits in many markets are shutting out potential buyers.
The challenge is particularly acute in California, which has the nation’s highest upfront fees for new construction, according to housing-research firm Zelman & Associates. Fees to pay for roads, sewers, schools and other infrastructure in California markets average between $40,000 and $72,000 per home, according to the firm’s research, compared with an average of $2,600 in Houston. [emphasis added]
The drop in homeownership is largely due to a delay in homebuying by the millennials, who have the lowest ownership rate of their age group in history. Millennials are not only burdened by student loan debt, but they have also delayed life choices like marriage and parenthood, which are the primary drivers of homeownership.
Why have today’s young people, as compared to young people in the recent past, delayed buying property, marrying and having children?
“While the millennial homeownership rate continues to decline, it’s important to note that the decrease could be just as likely due to new renter household formation as it is their ability to buy homes,” wrote Ralph McLaughlin, chief economist at Trulia. “Certainly low inventory and affordability isn’t helping their efforts to own, but moving out of their parents’ basement and into a rental unit is also a good sign for the housing market.”
Why are many of today’s young families choosing to rent rather than buy their homes?
Browsing through a used bookstore the other day, I saw a slightly later book by Antin: They who knock at our gates–a complete gospel of immigration (available here). It was published in 1914, at a time when immigration had become a very hot social and political issue, and is a highly polemical but pretty well-reasoned document. Antin’s key points and arguments are:
**The fundamental American statement of belief is the Declaration of Independence. “What the Mosaic Law is to the Jews, the Declaration is to the American people…Without it, we should not differ greatly from other nations who have achieved a constitutional form of government and various democratic institutions.” And “it was by sinking our particular quarrel with George of England in the universal quarrel of humanity with injustice that we emerged a distinct nation with a unique mission in the world.” Our loyalty to these principles is tested by our attitude toward immigration, “For the alien, whatever ethnic or geographic label he carries, in a primary classification of the creatures of the earth, falls in the human family.” This universalist view leads Antin to conclude that we are morally obligated to accept as many immigrants as we feasibly can–and we have room for many, many more. “Let the children be brought up to know that we are a people with a mission.”
**Contrary to the assertions being made in some quarters (in 1914), today’s immigrants are not of inferior quality to those of earlier eras. Jewish immigrants from Russia, for example, are pursuing religious liberty in a way directly analogous to the Pilgrims…indeed, “It takes a hundred times as much steadfastness and endurance for a Russian Jew of today to remain a Jew as it took for an English Protestant in the seventeenth century to defy the established Church”…and Russian Jews have shown great courage in the revolutionary movements against the Czar. Also, “We experienced a shock of surprise, a little while ago, when troops of our Greek immigrants deserted the bootblacking parlors and the fruit-stands and tumbled aboard anything that happened to sail for the Mediterranean, in their eagerness..to strike a blow for their country in her need….From these unexpected exploits of the craven Jew and the degenerate Greek, it would seem as if the different elements of the despised “new” immigration only await a spectacular opportunity to prove themselves equal to the “old” in civic valor.” Recent immigrants have also distinguished themselves in their avid pursuit of educational opportunities. “Bread isn’t easy to get in America,” Antin quotes a widow on Division Street, “but the children can go to school, and that’s more than bread.”
**Many of the problems associated with immigrant communities are actually the fault of bad municipal administration. “You might dump the whole of the East Side into the German capital and there would be no slums there, because the municipal authorities of Berlin know how to enforce building regulations, how to plant trees, and how to clean the streets….If the slums were due to the influx of foreigners, why should London have slums, and more hideous slums than New York?”
**Those who choose to become immigrants, from whatever, country, represent that best of that population. “Some of the best blood of New England answered the call of “Westward ho!” when the empty lands beyond the Alleghenies gaped for population…Of the aristocracy of New England that portion stayed at home which was fortified by wealth, and so did not feel the economic pressure of increased population; of the proletariat remained, on the whole, the less robust, the less venturesome, the men and women of conservative imagination. It was bound to be so, because wherever the population is set in motion by internal pressure, the emigrant train is composed of the stoutest, the most resourceful of those who are not held back by the roots of wealth or sentiment. Voluntary emigration always calls for the highest combination of the physical and moral virtues.”
Hence, the United States has practical as well as moral reasons to maximize immigration. Antin does not demand an absolutely uncontrolled immigration policy–“I do not ask that we remove all restrictions and let the flood of immigration sweep in unchecked”–she seems to be OK with health checks, and she calls for deportation of immigrants who have committed crimes–but does assert that the gate should be opened as wide as possible.
A quite different view of mass immigration can be found (oddly enough) in one of George MacDonald Fraser’s picaresque Flashman novels (link). In this passage, the anti-hero Flashman speaks very much out of character, soberly and thoughtfully in what is probably the author’s own voice, about the American Indian experience of European movement to their lands.
Posted by Michael Kennedy on 2nd July 2015 (All posts by Michael Kennedy)
The subject of “white privilege” is very much in the news there days.
Administration officials at the John F. Kennedy School of Government at Harvard University have reached an agreement with student activists to force “mandatory power and privilege training” on incoming students during orientation.
The group, which calls itself “HKS Speaks Out,” will have a meeting this week with the dean of the Kennedy School, David T. Ellwood, to discuss the funding for the compulsory training and to “make sure this training is institutionalized” throughout the school, reports Campus Reform.
Who is this group behind the “white privilege” training session ? Well, they are disgruntled students.
The movement, called HKS Speaks Out, began in October after students expressed having “really negative classroom experiences,” according to Reetu D. Mody, a first year Master in Public Policy student and an organizer of the movement. She said the group has amassed about 300 student signatures, or about a fourth of the school’s student population, on a petition that calls for mandatory privilege and power training.
She can’t breathe. She is a Congressional staffer but I can’t find out whose staff. Democrat if not Bernie Sanders.
Steve Sailor is not impressed.
Harvard U. is full of people who clawed their way into Harvard, so it’s not surprising that they often can’t stand each other. Fortunately, 21st Century Harvard students have a vocabulary of whom to blame for any and all frustrations they feel. From the Harvard Crimson:
Kennedy School Students Call for Training To Combat Privilege in Classroom
But my daughter and I were considering it over the last couple of years, along with all of our other ventures into suburban self-efficiency – the garden, the cheese-making, the home-brewing and canning, the deep-freeze stocked full, the pantry likewise. I put off doing anything about chickens until two things happened: we finally encountered the woman in our neighborhood who keeps a small flock of backyard chickens, and she took us to see her flock. She told us that it was not much trouble, really, and the eggs were amazingly flavorful. In comparison, supermarket eggs – even the expensive organic and supposedly free-range kind were insipid and tasteless.
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Posted by Michael Kennedy on 6th April 2015 (All posts by Michael Kennedy)
This book review of three books, is why I read City Journal. I don’t know where else you get these insights as well done.
Today, 50 years after its issuance, some liberals “bravely” acknowledge that 1965’s so-called Moynihan Report, in which the future senator warned about the dire future consequences of the collapse of the black family, was a fire bell in the night. But at the time, and for decades to come, Moynihan was branded as a racist by civil rights leaders, black activists, and run-of-the-mill liberals. “One began to sense,” Moynihan wrote, that “a price was to be paid even for such a mild dissent from conventional liberalism.”
As an aide to Nebraska senator Bob Kerrey in the 1990s, Greg Weiner knew Moynihan, and he picks up on the crosscurrents that made the senator such a fascinating figure in American Burke: The Uncommon Liberalism of Daniel Patrick Moynihan. Weiner describes how Moynihan distinguished between two types of liberalism. Pluralist liberalism, with which Moynihan identified, emphasized situation and circumstance in making policy. This was the position, Moynihan wrote, “held by those, who with Edmund Burke . . . believe that in . . . the strength of . . . voluntary associations—church, family, club, trade union, commercial association—lies much of the strength of democratic society.” But Moynihan saw another kind of liberalism developing, one caught up in an “overreliance upon the state.” This statist liberalism produced the bureaucratic “chill” that “pervades many of our government agencies” and has helped produce “the awesome decline of citizen participation in our elections.” That decline has continued to the present day, producing record-low turnouts in the recent New York and Los Angeles elections.
Steele’s new book, Shame: How America’s Past Sins Have Polarized our Country, explains why Moynihan’s fears of statist liberalism have been realized and why Moynihan has had no political or intellectual heirs. While generations of immigrants have passed African-Americans on their way up the social ladder, black leaders continue to excel at trying to leverage grievances into more entitlements. African-Americans, explains Steele, courageously won their freedom only to sell themselves into a new sort of bondage—to perpetual victimization and federal subsidies. The doors to modernity, which demand that individuals make something of themselves so as to advance in the marketplace, opened for blacks in the wake of the civil rights movement—only, explains Steele, to have blacks retreat into a group identity based on cultivating grievances.
They all sound like great books and I will read at least one of them.
When I first read of the survey (one story on it linked here) of how members of the public consistently overestimate the percentage of gays in the general population, I was not terribly surprised. Dismayed, yes – as it appeared that the younger cohort estimated the proportion of gay to straight at almost a third, which I thought would have run slap up against that cohort’s observation of the world around them. The actual percentage is round and about two percent, which tracks with my own real-world observation – but I can hardly blame the kids for assuming a much higher figure, knowing how many media creations prominently feature gay characters. Looking at TV shows, movies, books, games, the celebrity culture … one might very well assume that ‘gay’ constitutes a much larger portion of public space than they actually occupy, on a strictly numerical basis. The various media reflect ‘gay’ at several times their normal size. Like my neighbor’s basset hounds; it’s not that there are many, but the bassets are so very loud, a casual observer might assume that there are many more, based on the racket.
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Here we are, in the first week of the last month of 2014, and by way of good cheer, I can say that things haven’t descended quite so far into the Four Horsemen of the Apocalypse territory – pestilence, war, famine and death – as I had feared some two or three months ago, when Ebola was all the rage in news. People are still falling sick to it, of course, but curious that such news is no longer in the News, capital-N News, run by the professional news-gatherers, whose motto and mission does seem to be comforting the comfortable and afflicting the afflicted. Funny old world, that.
Still, certain elements of the current scene do give cause for alarm. Not new alarm, but just the same old abiding fears which spurred me to begin writing books to persuade readers of the virtue of the grand American experiment and to refit the kitchen pantry closet to allow storage of mass quantities of staple foods. At the age of 60-something, I appear to be turning into my grandmothers, one of whom conserved a box of Ben Hur brand cayenne pepper over several decades until it was nothing more than some rusty-red dust, and the other of whom had a two-year supply of on-sale-purchased canned food stashed in the garage. I am trying to advance on my grandmothers’ example, though – since I have a vacuum-sealer and freezer. I do wish that I had somehow managed to get ahold of the ancestral can of cayenne pepper; it’s probably valuable now as an antique for the container, if not the rust-red pepper dust therein. Enough for pestilence and famine – what about those oldie-but-goodie standbys, War and Death?
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… I think. My crystal ball is out for re-calibration so I cannot be absolutely certain, but I’ve been expecting a crisis or bundle of intersecting catastrophes for some time now. There have been murmurings for the last year regarding the probability of Ebola spreading out of Africa. And now it has happened – a person sick with it has exposed lord only knows how many other people on his way back to Dallas from a visit to Africa. Which is horrific enough, but just getting started. Meanwhile, an enterovirus which attacks the respiratory tract and in some instances has an effect very like that of polio has been here for some months, sickening children – especially those who have respiratory difficulties.
Study suggests that waiting on experiences can be pleasant, whereas waiting on things just tends to be frustrating. (But what about things that are purchased in order to have experiences?…is waiting for the delivery of a boat really that different psychologically from waiting for a boat-charter vacation?)
Pioneering 3-D printed houses in Amsterdam (with video)
Thoughts about blank-slate theory and its consequences
To train a horse and ride it to war. Thoughts on chivalry, feminism, and horsemanship.
Forty years after the fact is a fine time to wonder if that murderous freak Charles Manson had a point, after all. This is a savage disappointment to me, having been carefully schooled in racial tolerance since about the time that my mother nearly kicked off an epic family fracture when she requested that my paternal grandfather please tone down his expressions of racial denigration in front of us kiddies. She might also have asked the same of Dad, back in the day – he was, after all, raised by Grandpa Al, who – by his talk – couldn’t abide Negro-Black-African-Americans, or whatever the current socially correct term is – and Grandma Dodie, who couldn’t stand Jews. That their favorite entertainer of all time was Sammy Davis, Jr., was just one of those amusing ironies – that and the fact that they were always perfectly cordial to those of my parent’s friends and mine who were Jewish, and/or not by any stretch of imagination white Anglo-Saxon protestants was another one.
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Oh, not to worry – I had my privilege topped up last week. Full of privilege I am, and ready to go … I assume that this is the ephemeral white privilege that these undergraduates-of-excruciatingly-top-drawer-non-state-uni muppets are referring to? Is this the female privilege, the veteran privilege, or the mainstream religious privilege, or even the privilege of having been brought up by a relatively well-adjusted heterosexual married couple in those benighted times when it was possible and even laudable for a male to go out and earn a living, while the spouse (usually referred to as a help-mate) stayed at home, raised the children, organized the housekeeping and the meals, the education, clothing and schooling of those children, the social sphere in which she and the pay-check winning spouse moved, and volunteered in the community where they lived … that must be it. (Hey, I’ll swipe my privilege card through the dispenser, just in case I have burned through some of my previously-deposited privilege.)
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NOTE: This blog post was originally published at The Scholar’s Stage on 2 January 2011. Its contents are relevant to the discussion started by Jay Manifold’s recent posts on national catastrophes and societal resilience. Now seems like a good time to resurrect the original post in its entirety.
I recently read a book by survivalist blogger James Wesley Rawles called How to Survive the End of the World as We Know It. This reading has prompted a few thoughts on the aims and validity of the survivalist movement that may be of interest to readers of the Stage.
The raison d’etre of survivalism is a subject much discussed on this blog: the proper balance between between resilience and efficiency. Robustness and facility are two virtues fundamentally at odds, and all complex systems, be they organisms, economies, or militaries, are subject to the trade off between them. While the relation between specialization and efficiency was noted by both Xenophon and Ibn Khaldun centuries earlier, widespread acceptance of the “drag” redundancy places on a system’s productivity did not come until publication of Adam Smith‘s The Wealth of Nations. Mr. Smith uses the example of a pin factory to teach the general principle:
…the trade of the pin-maker; a workman not educated to this business (which the division of labour has rendered a distinct trade), nor acquainted with the use of the machinery employed in it (to the invention of which the same division of labour has probably given occasion), could scarce, perhaps, with his utmost industry, make one pin in a day, and certainly could not make twenty. But in the way in which this business is now carried on, not only the whole work is a peculiar trade, but it is divided into a number of branches, of which the greater part are likewise peculiar trades. One man draws out the wire, another straights it, a third cuts it, a fourth points it, a fifth grinds it at the top for receiving the head; to make the head requires two or three distinct operations; to put it on, is a peculiar business, to whiten the pins is another; it is even a trade by itself to put them into the paper; and the important business of making a pin is, in this manner, divided into about eighteen distinct operations, which, in some manufactories, are all performed by distinct hands, though in others the same man will sometimes perform two or three of them. I have seen a small manufactory of this kind where ten men only were employed, and where some of them consequently performed two or three distinct operations. But though they were very poor, and therefore but indifferently accommodated with the necessary machinery, they could, when they exerted themselves, make among them about twelve pounds of pins in a day. There are in a pound upwards of four thousand pins of a middling size. Those ten persons, therefore, could make among them upwards of forty-eight thousand pins in a day. Each person, therefore, making a tenth part of forty-eight thousand pins, might be considered as making four thousand eight hundred pins in a day. But if they had all wrought separately and independently, and without any of them having been educated to this peculiar business, they certainly could not each of them have made twenty, perhaps not one pin in a day; that is, certainly, not the two hundred and fortieth, perhaps not the four thousand eight hundredth part of what they are at present capable of performing, in consequence of a proper division and combination of their different operations….. The division of labour, however, so far as it can be introduced, occasions, in every art, a proportionable increase of the productive powers of labour.“
Mr. Smith does not present the primary drawback of this arrangement. With efficiency comes fragility. Ten men working by their lonesome produce a paltry number of pins, but the faults of one man do not destroy the efforts of another. In contrast, if something happens to one of the ten factory men and; his equipment, no pins get made and the factory must shut down. One bad cog puts a stop to the entire machine.
For the survivalist this is a problem pervading not only the pin factories, but all of modern society. Read the rest of this entry »
Many thanks to the commenters on my review. I won’t be agreeing with all of you, but I value your input for increasing my understanding of what others think. I have some related ideas on how to think about the issues raised specifically by Lightning Fall and generally by “preppers” and, indeed, anyone anticipating a societally disruptive crisis in the near future.
NB: this is an essay in the original sense of “attempt.” It is unlikely to fully represent my thinking on these issues even a few years hence; and whether you agree with me or not, I encourage you to think these things through based on your own abilities and experience, and then act as your specific situation appears to require. Hayekian distributed local knowledge may save us. Central planning, as I hardly need admonish this audience, will not, and therefore any attempt by me to impose a uniform mental framework should (and undoubtedly will) be firmly rejected.
Posted in Book Notes, Civil Society, Current Events, History, Human Behavior, International Affairs, Markets and Trading, National Security, Predictions, Society, Systems Analysis, Terrorism, Tradeoffs, Urban Issues, USA, War and Peace | 8 Comments »
Over the years I’ve traveled to New York City many times but never the borough of Queens. In your head you have a mental picture of the NYC map as if Queens has a “hard” border but really it is just attached to Long Island which goes out to the East.
We met a friend in Queens and went to Bohemian Hall which is one of the best beer gardens in New York City. It is over 100 years old and was built by immigrants from Eastern Europe. We went straight outside since it was a beautiful day in 70 degree weather (one of the first nice days of the year in mid April) so I didn’t see the interior of the building.
It opened at noon and soon was full of young and trendy new York types – not the downtown all-in-black types, but the borough crowd that was forced out by incredibly high costs and also those with young children. We saw a lot of strollers and kids running around, it sort of reminded me of Wicker Park over the last few years.
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… about the egregious Al Sharpton, whom I will not dignify with the title of reverend, first because there is no record of the fat, illiterate, race-baiting rabble-rouser ever having attended a seminary of any sort, and secondly because … oh, good lord, just look at those old pictures of him from the 1970s and 80s; jheri-curled, velour track suit and gold pendant the size of a man-hole cover. People, trust me when I tell you that I require a smidge more dignity from those who hold churchly office in any denomination, a standard from which Al Sharpton fell so far that he would need a bucket-truck with a three-story-tall extension even to get close.
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Posted by Michael Kennedy on 4th February 2014 (All posts by Michael Kennedy)
I have believed for some time that we were entering another Depression. I have previously posted about it.
The Great Depression did not really get going until the Roosevelt Administration got its anti-business agenda enacted after 1932. The 1929 crash was a single event, much like the 2008 panic. It took major errors in economic policy to make matters worse. Some were made by Hoover, who was a “progressive” but they continued under Roosevelt.
The second article preceded the election of 2012 but is still valid.
When employment hit an air pocket in December, most analysts brushed off the dreadful jobs number as an anomaly, or a function of the weather. They chose to believe Ben Bernanke rather than their lying eyes. It’s hard to ignore a second signal that the U.S. economy is dead in the water, though: on Monday the Institute for Supply Management reported the steepest drop in manufacturing orders since December 1980:
In January, only 51% of manufacturers reported a rise in new orders, vs. 64% in December. Not only did the U.S. economy stop hiring in December, with just 74,000 workers added to payrolls; it stopped ordering new equipment. The drop in orders is something that only has occurred during recessions (denoted by the shaded blue portions of the chart). The Commerce Department earlier reported a sharp drop in December orders for durable goods. In current dollars, durable goods orders are unchanged from a year ago, which is to say they are lower after inflation.
So, the economy stopped hiring, even at the poor pace the past five years have seen, but business also stopped buying.
New from Kevin Villani: Occupy Pennsylvania Avenue: How Politicians Caused the Financial Crisis and Why their Reforms Failed, and the Kindle version: Occupy Pennsylvania Avenue
(Kevin has shared on this blog a couple of prior works on the same subject. You can find those essays, and reader comments in response, here.)
Covered here, at length, I am certain that New Mexico, or at the very least, the Hidalgo County PD needs a new motto. This takes ‘search and seizure to whole new levels. I’ve seen this story linked on a couple of different independent blogs, but now it goes to a whole new level of ‘WTF?’
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As a long time city of Chicago resident I have seen the immense growth of new buildings and new residents in areas near downtown which previously had been office buildings, warehouses, dilapidated structures, or simply abandoned. From time to time when I am in an architectural bookstore I glance at books about “new urbanism” or various similar concepts that authors and “urban planners” use to overlay atop the actual growth of a city (or decline, in the case of other parts of Chicago).
If you are from a smaller town or relatively slow moving US city and haven’t been overseas to see “real” growth somewhere like Hong Kong, China, or India, then Chicago’s growth over the last decade or so that I’ve lived near down is pretty astonishing. In River North, where I live, literally dozens of high rise buildings > 15+ stories have been built and are filled to the brim with owners and renters. The entire South Loop has been renovated not only with town homes and large buildings, but huge retail spaces like Target, Costco, and giant movie theaters. While there were many restaurants in River North when I first moved here, we had to walk far and wide to find even a place open for a decent breakfast; now we have a dozen to choose from within 6-8 blocks.
Since there are train tracks downtown for the Metra commuters which arrive from suburbs from all directions (except East, where the lake is) and many of these tracks are on ground level, the streets are cut up and there are sidewalks I used to take under viaducts with few people around. Now, however, immense apartment buildings have popped up (over 40+ stories) and in the morning there is a huge population of well dressed professionals walking along these routes and sidewalks, where previously there was just debris and parking lots. If I go to work late it is either single women walking dogs or nannies pushing single babies in strollers.
There must be 50,000+ well heeled urban residents packed into this place, all arriving from somewhere else whether it is a suburb, another state, or another country. None of them are poor – you can’t be – since rents are in the thousands and move up rapidly, and every new building coming up has more amenities than the competitors in order to attract residents. The demography is very fluid because many of the condominium owners rent out their units, and then the newer buildings have been built as apartments since the real estate crash of 2008.
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Posted by Lexington Green on 30th July 2013 (All posts by Lexington Green)
Detroit was once the greatest city of the modern world. Automobiles were the cutting edge of technology in the first half of the twentieth century. Talent and genius flocked to Detroit. Innovators in engineering, technology, design, finance, marketing, and management created a concentration of economic dynamism and creativity unlike anything the world had yet seen. Detroit was the Silicon Valley of its day, except its products were made of tangible metal, rubber, and glass. The auto industry transformed America into a land of mobility and personal freedom beyond the dreams of earlier generations. Henry Ford said, “History is bunk.” He meant the old limits could be blown away, and ordinary people could have a better life than they had ever dreamed of before.
Posted in America 3.0, Big Government, Conservatism, Economics & Finance, History, Illinois Politics, Leftism, Political Philosophy, Politics, Society, Taxes, Transportation, Unions, Urban Issues, USA | 22 Comments »
Did this again last night.
Another big crowd. This time we started near the front, which made the whole experience better as most of the crashes and sudden stops happened behind us. Also it’s summer, so much of the ride took place when it was light enough to see the sights, including the more attractive female participants…
I was a teenager when the Manson murders went down, in the autumn of 1969 – of course, the cruel and inexplicable murder of a movie star and several of her friends made all the headlines, and had lots of law-abiding citizens looking over their shoulders and being very careful about locking the doors and windows of their homes at night. It wasn’t until some time later that the associated murders of an elderly retired couple also hit the headlines of the LA Times, and other national newspapers. A blood-drenched, hippy cult with a weirdly charismatic leader had committed those murders in order – so they claimed – to trigger a devastating racial war, which they termed ‘helter-skelter’ from a Beatles song moderately popular at the time. Read the rest of this entry »