“God created war so that Americans would learn Geography.”
James McCarthy has 30+ years in finance and private equity, corporate structuring and work-outs, and raising debt and equity as an investor, lender, investment manager, portfolio manager, financial advisor, corporate consultant, work-out consultant, and city planner. Clients have included domestic and offshore institutional investors, investment funds, hedge funds, high net worth investors, and private companies. I hold an MBA from Columbia University and a Master of City & Regional Planning from Rutgers University.
Special interests include green and sustainable design, resilience, passive energy design, waterfront, walkability, transit-oriented design, affordable housing, high-quality and innovative architecture and construction technology, mixed-use development, and the inclusion of public spaces and landscape architecture.
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The settlements with the banks along with the ongoing investigations have shown that virtually every market is being manipulated; the stocks, metals markets, LIBOR, FOREX, everything. The companies would only break so many laws if they felt they would have a reasonable chance of getting away with it; they would also need a reason to do it, which is provided by the infinite growth model our economy is based on.
The GOP loves to insist that Democrats have caused a fiscal crisis. But the real story looks far different…
…when Republican Vice President Dick Cheney said to Treasury Secretary Paul O’Neil, “You know, Paul, Reagan proved deficits don’t matter.” Indeed, Ted Cruz’s hero Ronald Reagan was the original deficit master.
When Reagan took office, he advocated fiscal responsibility, as his disciples do today. But his presidency was anything but responsible when it came to fiscal policies. The size of America’s debt when he entered office was $1 trillion, and by the end of his two terms, it had grown by 190 percent, to $2.9 trillion, nearly tripling under his leadership. By the the end of twelve years of Reagan-Bush administration, the debt had quadrupled to $4 trillion…
…Reagan backtracked from that initial tax cut, increasing income taxes as well as gasoline and social security taxes, which he would use to fund his runaway spending.
…both Ford and Carter were better at cutting government spending — their presidential terms combined for a 1.4 percent increase of national income, while Reagan’s spending grew 3 percent.
Rather than going the responsible “tax and spend” route, Reagan decided to “borrow and spend.”…
…So, Reagan and Bush Sr. quadrupled America’s debt, following a decade of fiscal irresponsibility and regressive tax increases that ultimately defrauded America’s working class. And then, of course, Democrat Bill Clinton came into office to clean up the mess. In his first years, Clinton enacted tax increases for the wealthy, and the effective total federal tax rates rose significantly for the one percent. When Clinton signed these increases into law, Conservatives warned it would destroy jobs and stifle economic growth — but the opposite happened, the economy flourished…Clinton was fiscally responsible, and he left George W. Bush with a budged surplus of $86 billion.
And what did the Republican do with this wonderful gift? He did the usual — cut taxes for the wealthy, and rapidly increased spending by starting two extremely expensive wars. Bush’s fiscally irresponsible policies raised the debt by over $5 trillion. This, along with his administrations lack of Wall Street oversight, helped fuel the financial crisis that he would pass down to President Obama…
For the full story and more facts please go to: The ludicrous myth of Republican fiscal responsibility: A history lesson for the modern GOP – Salon.com
Are Republicans aiding Chinese efforts to undercut America’s global economic sway?
That’s the case some Democrats are making, complaining that GOP lawmakers are eroding U.S. soft-power overseas by refusing to back the key international institutions where the U.S. has long exercised intellectual, political and economic leverage.
The value of many oceanfront properties on the East Coast could drop dramatically if Congress were to suddenly end federal beach nourishment subsidies. Values could fall by as much as 17 percent in towns with high property values and almost 34 percent in towns with low property values. A gradual reduction of the subsidies, in contrast, is more likely to smooth the transition to more climate-resilient coastal communities.
“the justices of the Supreme Court have shaped a nation where children toiled in coal mines, where Americans could be forced into camps because of their race, and where a woman could be sterilized against her will by state law. The Court was the midwife of Jim Crow, the right hand of union busters, and the dead hand of the Confederacy. Nor is the modern Court a vast improvement, with its incursions on voting rights and its willingness to place elections for sale.”
Even amidst this dark history, certain justices stand out as particularly mean-spirited, ideological or unconcerned about their duty to follow the text of the Constitution. Based on my review of over 150 years of Supreme Court history in Injustices, here are the five jurists who stand out as the worst justices in American history:
Sprawl costs the American economy more than $1 trillion annually, according to a new study by the New Climate Economy. That’s more than $3,000 for every man, woman, and child.
These costs include greater spending on infrastructure, public service delivery and transportation. The study finds that Americans living in sprawled communities directly bear $625 billion in extra costs. In addition, all residents and businesses, regardless of where they are located, bear an extra $400 billion in external costs.
via Sprawl costs US more than a trillion dollars a year | Better! Cities & Towns Online.
While Obama is at least attempting to deal with the end of U.S. hegemony, Republicans will promote rhetoric over reality and further weaken the U.S.’s global influence.
Now that Australia, New Zealand, India, and Indonesia are also considering joining the bank, the United States is clearly tempering its opposition. In fact, Washington ultimately may be left out since the Republican-dominated Congress is unlikely to allow the United States to join the new bank.
Imagine what it would be like if these people weren’t “christian”?
Congressional Budget Plans Get Two-Thirds of Cuts From Programs for People With Low or Moderate Incomes, by Richard Kogan and Isaac Shapiro, CBPP: The budgets adopted on March 19 by the House Budget Committee and the Senate Budget Committee each cut more than $3 trillion over ten years (2016-2025) from programs that serve people of limited means. These deep reductions amount to 69 percent of the cuts to non-defense spending in both the House and Senate plans.
via Economist’s View
How nauseating: NYC provides tax support to billionaires:
New York City’s method of assessing property values is so out of whack that the buyer of the most expensive apartment ever sold — a $100 million duplex overlooking Central Park — pays taxes as if the place were worth just $6.5 million.
With controversial tax breaks granted to the One57 condo tower, the total property tax bill for the spectacular penthouse is just $17,268, an effective rate of 0.017 percent of its sale price.
By contrast, the owner of a nearby condo at 224 E. 52nd St. that recently sold for $1.02 million is paying an effective rate of 2.38 percent, or $24,279, according to data compiled for The Post by the Revaluate.com real-estate information website.
“I should like to have it said of my first Administration that in it the forces of selfishness and of lust for power met their match. I should like to have it said of my second Administration that in it these forces met their master.” – FDR
“Yes we can.” – Obama – But we didn’t.