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In response to:

Bitcoin Revolution

conservative_librarian Wrote: Jan 15, 2014 4:32 PM
I see the 'back-to-gold!' crowd is out in full force, and apparently someone has been issuing talking points about the use of tulip bulbs as currency as well. there is a fundamental disconnect though in that, at least for the 21st century, gold isnt that much better than tulip bulbs with regard to 'real' value (it does have the benefit of not being perishable, being divisible and verifiable). a good recent write up about currency I came across here http://eddiesblogonenergyandphysics.blogspot.com/2013/11/energy-currency-vs-bitcoin-currency-vs.html ultimately currency is a means to an end, I have been a proponent of a shift to an energy backed currency for some time now... but this isnt to say that the current system couldnt be salvaged with a major restructuring of the Fed / regulatory structure.
to clarify, I think the plan is idiotic and if a municipality wants to invoke eminent domain to accomplish it, that makes it substantially worse. just bugs me when professionals name drop experts (like law professors) and cant even get the name right I agree with many other comments in the thread that the banks, investors, and property owners should assume the full failure of the risks they took. (this said as a single professional in the Boston area who could afford a mortgage but is convinced real estate is still substantially overvalued)
the Cornell professor should be Robert Hockett, you can read his paper at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2038029 it seems the elements specific to eminent domain begin around page 29 of the document. the professor references partnership with 'private investors' and doesnt specifically outline the use of eminent domain in conjuntion with below fair market assessment/payment (this doesnt mean that in practice this was his intent or that municipalities will implement it that way) seems like his 'plan' could largely be undertaken without the use of emminent domain, are there really so many banks with underwater mortgages that wouldnt accept external money to be bought out at present or even reduced value?
In response to:

Would They Be Proud?

conservative_librarian Wrote: Aug 07, 2013 4:05 PM
Having grown up near Syracuse, NY... the statistic on Rochester's graduation rate was a bit shocking (I have a brother who is a teacher and currently lives in one of the nicer suburbs) Dr Williams really needs someone to invest a few hours in factchecking some of those numbers. He reports a 9% graduation rate, which seems to have been published in The Urgency of Now: The Schott 50 State Report on Public Education and Black Males. Notice that last word in the title... the numbers are specific to black males not all black students. Further, there appears to have been some 'estimating' done to generate that number. Based on some rebuttals to the report it appears the graduation of black students in 4 years is roughly 45%, with black males as a subset being substantially lower at 19% Anything under 90+% seems like a failure of the school districts and parents to me! And the low numbers in many cities are probably actually much worse given the test/grade scandals that keep popping up.
In response to:

Unsung Black People

conservative_librarian Wrote: Jul 25, 2013 3:42 PM
did the executive have a receipt? if not, depending on the store's policy I would expect the employee to be suspicious if he did have the receipt, it would be very simple that he was returning something purchased, no issue at all.
Texas Statutes - Transportation Code Title 7A, Chapter/Section 501.0275 ISSUANCE OF TITLE FOR UNREGISTERED VEHICLE. (a) The department shall issue a title for a motor vehicle that complies with the other requirements under this chapter unless: (1) the vehicle is not registered for a reason other than a reason provided by Section 501.051(a)(6); and (2) the applicant does not provide evidence of financial responsibility that complies with Section 502.046. (b) On application for a title under this section, the applicant must surrender any license plates issued for the motor vehicle if the plates are not being transferred to another vehicle and any registration insignia for validation of those plates to the department.
You are right in part, but your solution is wrong. There is an implied contract with citizens nearing retirement, but we dont need FICA specifically to make good on it. The 'fund' has a ton of IOUs that need to be repaid from the general receipts, any tax income can accomplish this. Ideally there would be a combination of changes to spread the pain, raising the retirement age, sunsetting the current program all together, benefits reduction (could be accomplished through stagnation against inflation), and current employees having control of where at least their contribution was invested with long term ownership. How the IOUs are and other associated obligations are paid doesnt require FICA (although you could use the 'employer contribution as a earmarked corporate tax to accomplish this end)
inflation adjusted dollars that $900 in 1958 would be less than $7500 in 2013 according to http://bursar.uchicago.edu/tuition.html#schedule tuition is now a smidge under 14K per QUARTER, no year
Have to disagree with the columist on this one (not to say trade balances are irrelevant, just that they arent anywhere near a primary factor) I would identify several other elements as having much stronger impacts, beginning with a redefining of what 'middle-class' actually is... I think 60+ years ago, a middle class family was marked by homeownership and providing higher education for their children. The rise of the two income household had a major impact on expanding the middle class, but is also self limiting (there is not a natural progression from 2 income to 3 income households). Union and government interference has ultimately prevented stabilization and correction in the economy as both try to articificially extend past surges.
this isnt to say you cant still help them with their further education it would be a great gift to them if they are capable of college level work but dont let the colleges/universities assume your assets are available for raiding!
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