There’s no Santa or Tooth Fairy, and no quick fix for economy
Wow.
That explains a lot, economically as well as politically.
The chart above, from Calculated Risk, breaks out housing equity by state. In Nevada, for example, almost 70 percent of homeowners owe more on their mortgages than their homes are worth. How many of those folks are going to be in the mood to spend money, generating the demand needed to restart the economy? Compounding the problem, Nevada also happens to have the country’s worst unemployment rate, at 14.3 percent in July. A lot of those jobless Nevadans couldn’t relocate for a job even if they found one, not without taking a huge financial hit on their home. That’s a lot of pain and sleepless nights, and cause for a lot of anger as well.
Georgia is sixth, right after California, with almost 30 percent of homeowners under water and another good chunk barely staying afloat. (Ga. unemployment rate: 9.9 percent). An economy that for years was fueled by homeowners who used their houses as ATMs has become an economy in which housing has become a huge anchor, in more ways than one. Millions of homeowners face the difficult choice of continuing to dump money into a house that they know is a bad investment or just walking away.
That also puts into perspective the latest “regional snapshot” from the Atlanta Regional Commission. “Since the recession began more than two years ago, the 10-county region has added approximately 56,000 people, which is the slowest growth period in the region since the 1950s,” ARC reports. “The Atlanta region’s slowdown is directly attributable to the national economy. During weak economic periods, people don’t move as much for several reasons. Job opportunities are slim, meaning people don’t move to take new jobs. And, with the housing market in such disarray, it is hard to sell a house, which tends to keep people stationary.”
There ain’t no Santa Claus, there ain’t no Easter Bunny, and there ain’t no easy, quick solution to problems like this one.
UPDATE: In an analysis of Michael Lewis’ best-seller “The Big Short,” economic analyst Paul Willen of the Federal Reserve traces the collapse of the Wall Street bond market to the same basic problem: housing prices.
“Subprime bulls bought the bonds because careful research based on vast amounts of loan-level data using state-of-the-art models … showed that if house prices continued to behave as they had for the previous ten years, the bonds would perform well. The research also showed that if house prices collapsed, investors would lose big, but, after ten years of solid appreciation in house prices, researchers viewed a big fall as unlikely.”
Willen and his co-authors also cite an August 2005 analysis of the housing bond market by researchers at Lehman Brothers. The researchers estimated only a 5 percent chance of a “meltdown scenario,” which they defined as a market in which housing prices fell by 5 percent a year. The actual meltdown — only months away at the time — saw housing prices fall by 10 percent a year, twice as bad as the worst-case scenario. It also saw Lehman Brothers disappear altogether.
Here’s another chart, documenting the housing boom and subsequent collapse, by Steve Barry via Barry Ritholz and The Big Picture. Ominously, it suggests that housing values are STILL well above historic levels of the past century, after adjusting for inflation.
Tell us what you think about the site
Customer Care »
Vacation stops, manage subscriptions and more
AJC Services
Sections
Other Editions
Visitor Agreement | Privacy Statement
© 2013 The Atlanta Journal-Constitution
797 comments Add your comment
@@
August 27th, 2010
3:42 pm
jm:
HEY!!!!!!!!!!
Did you just call me a DOPE??????
Meet me in the Obituaries, buddy!!!!!!!!!!
@@
August 27th, 2010
3:43 pm
Ooooooooooo
FOIST!!!!!!!!!!11
AngryRedMarsWoman
August 27th, 2010
3:44 pm
““Black Schools” Note the FUNDING inequities!! I’m willing to bet that schools in Dunwoody get better funding than the schools in South DeKalb!!”
Isn’t that because the people in Dunwoody pay more school taxes because they have higher property values? I may be taking the simple view of this, but don’t people live (and pay taxes) in East Cobb so they can be in the Lassiter/Pope/Walton areas rather than living in less expensive (and lower taxed) housing in the area zoned for Osbourne High? How is it a funding inequity of the people who pay the taxes in a specific area wind up having those tax revenues funneled into the schools in their area? Wouldn’t it actually be an inequity if that didn’t happen and my tax dollars went to another district? Sort of a “you get what you pay for” idea? Or “don’t have kids in a crappy school district unless you want to send them to private or devote a lot of your own time teaching them” thought process? Just saying.
Dave the Man
August 27th, 2010
3:45 pm
HDB
You go right ahead, bow to Hugo Chavez, bow to Amedenijahd, Castro, and any other tin horn dictator. While you’re at it apologize for the US saving us from Japanese Imperialism, and Nazi Fascism. Perhaps we shoould have all just joined hands a sang Kum-ba-ya.
Once "Recent" Reader
August 27th, 2010
3:46 pm
Dave the Man . . I wanted to go at this one separately. I really don’t understand where this bowing thing comes from. Nixon did it in China, and I’m sure many other Presidents have shown the appropriate respect when meeting other leaders. Of all the Pres bashing . . .this “apologist” item is the one that really bothers me. Do we think we are better than everyone else?? Are we the Uber-People?? Again . . .are we incapable of making mistakes??? If you say we are . . .then I can’t counter this point with you. I like another poster worked overseas in Europe. I saw the effect that my fellow Americans had on the locals when they constantly compared everything to America . . and how we had bigger, better things. I’ll tell you right now . .. ..I did much better with them with the locals by trying to learn their cultures and respecting their ways. I was well liked and in the end got a lot more out of the workers . . .. and quite a few more dates:) . . because of my respect and openness.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
3:47 pm
HDB AKA XYZ
The policies of the GOP have been consistently antithetical to minorities…..and it is still persistent now!!
Who free the Slaves? Who passed the Civil Rights Bill? Who has taken care or made you think they are taking care of the blacks?
Republicans
Republicans
Democrats
So why after 45 years of having the Democrats cater to the blacks are the blacks worse off?
Hint: They are playing you like the fool you are!
Normal
August 27th, 2010
3:49 pm
Once “Recent” Reader
August 27th, 2010
3:46 pm
Well said…and absolutely correct…
Once "Recent" Reader
August 27th, 2010
3:49 pm
Dave the Man . . . just saw your new post referring Chavez, Castro, Nazi’s, Japanese Imperialists . . .et al. That is a real change to the discussion and often where I see the “Anti-Obama for Apologizing” folks run to. I love the Chavez thing. Well if you are so upset about that . . . why not worry when Pres. Bush was bowing and kow-towing to the Saudi Princes??? Just wondering.
Normal
August 27th, 2010
3:51 pm
I’ve got to admit, I’m Here From The Government And I’m Here To Help, makes me laugh out load!
Bosch
August 27th, 2010
3:52 pm
I’m here,
“Hint: They are playing you like the fool you are!”
Hear that black people….according to I’m here…you are fools, and I’m here is here to help you understand that because you are obviously too dumb to figure this out for yourselves.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
3:52 pm
Bosch
August 27th, 2010
2:28 pm
I’m here,
No, it’s our nice way of saying your an idiot.
YOUR POST BOSCH! WHERE’S BOOKMAN? HIDING?
Doggone/GA
August 27th, 2010
3:53 pm
“why not worry when Pres. Bush was bowing and kow-towing to the Saudi Princes??? ”
Always remember: IOKIYAR
Kamchak
August 27th, 2010
3:53 pm
Oooooooh!
The NAZI card and the Kum-ba-ya card in one post.
Care to go for the trifecta?
(hint: “socialism” or “Marxism” is acceptable)
Bosch
August 27th, 2010
3:55 pm
I’m here,
Um, I’m not the one who posted “here’s your sign.”
HDB
August 27th, 2010
3:55 pm
jm August 27th, 2010
3:40 pm
HDB – I know it won’t be fun. I’m aware of the downsides. But if I have to choose between:
A – a drastically smaller military, social security and medicare only for the destitute, 30% shrinkage in discretionary spending, combined with intelligent investments in R&D and infrastructure
or
B- the US going bankrupt or hyperinflation
I choose A.
I’m not saying that we don’t cut….but I’m going with a LOGICAL, measured approach rather than the DRASTIC..”swing for the fences” approach!! Stage the cuts annually….and within a decade, we can balance the budget, eliminate the deficit…..
Dave the Man August 27th, 2010
3:45 pm
If I would bow to someone, it would be because that’s the custom that would be appropriate….not that I am acquiesing to ANYONE!! You have to get past that!!
AngryRedMarsWoman August 27th, 2010
3:44 pm
If my child attended DeKalb county schools, I would desire equivalent funding for ALL students!! That wold insure that ALL recieve a comparable education!! Contingent upon the location, the curriculum may differ….one school may be geared more towards technology…another for the arts….another for vocational curriculum!! Imagine that a county system has 10 schools….and each of the 10 schools receive equivalent funding! Would there be any issues about the level of education in a system?? I could see the levels of ALL public schools being raised rather than the few prospering and the poor get screwed!! The money would not leave the system!!
I'm Here From The Government And I'm Here To Help
August 27th, 2010
3:55 pm
Bosch
August 27th, 2010
3:52 pm
I’m here,
“Hint: They are playing you like the fool you are!”
Hear that black people….according to I’m here…you are fools, and I’m here is here to help you understand that because you are obviously too dumb to figure this out for yourselves.
AFTER 45 years of getting the shaft, most people would have figured it out years ago. What’s your peeps excuse to still be handing on to the Democrats TIT?
Bosch
August 27th, 2010
3:55 pm
Kamchak,
I like “fascist” better – it sounds more fierce.
AngryRedMarsWoman
August 27th, 2010
3:56 pm
“why not worry when Pres. Bush was bowing and kow-towing to the Saudi Princes”
Damn right. While we have been off engaged in two wars – one right (Afghanistan) and one wrong (Iran) – our real enemy was having its butt kissed by Bush….the Saudis. THAT, my friends, is one country in need of a tactical nuke. Scary place. You want to talk about being afraid of Islam…go there. Most of the other general civilian population folks in the region are not too bad — not too bright, not too hard working, but not really actively dangerous. Totally different story in Saudi Arabia…I think they are born hating the west. Just saying.
Once "Recent" Reader
August 27th, 2010
3:56 pm
Normal . . .. .thanks!!! I don’t know is it me . . . .should we not be respectufl to others? I think it is also a sign of confidence in ourselves when we can be respectful to those we don’t like nor agree with. Hey, the real tactful politician would be smart to bow to a hostile leader even if they were planning to bomb them the next day. Why show your bad intentions beforehand:) Dave the Man and others seem to want diplomacy to be thrown out the door. Puff out our chests and say the big, bad American is here . . .love it or leave it.
AngryRedMarsWoman
August 27th, 2010
3:56 pm
oops….meant the wrong one is Iraq….we haven’t gotten into a war with Iran…yet
Abrazos
August 27th, 2010
3:56 pm
“A man’s heart is at the right hand of God; but a fools heart is at his left”.
OK, I’m your huckleberry, Biblically speaking.
Let’s look at Proverbs, as applicable to wingnuts, tea partiers, Beck, Limbaugh, Palin, Bachman, Hannity and on and on and on.
Proverbs 6:16-19
16 There are six things the LORD hates,
the seventh is an abomination to Him:
1 haughty eyes,
2 a lying tongue,
3 hands that shed innocent blood,
4 a heart that devises wicked schemes,
5 feet that are quick to rush into evil,
6 a false witness who pours out lies
7 a man who stirs up dissension among brothers.
“A a man who stirs up dissension among brothers” is the worst, an abomination sayeth Proverbs. At least Hell won’t be lonely for the Godless right.
Jay
August 27th, 2010
3:57 pm
I’m right here, gov’t.
The posts I objected to from you regarded another poster’s alleged husband and his alleged activities. You recall them? I’d say Bosch’s indirect retort paled by comparison. Your mileage may of course vary.
Bosch
August 27th, 2010
3:57 pm
I’m here,
“AFTER 45 years of getting the shaft, most people would have figured it out years ago.”
Are you saying that black people are just too dumb to figure this out?
Roberto
August 27th, 2010
3:58 pm
Kamchak
You need a sign.
Once "Recent" Reader
August 27th, 2010
3:59 pm
Doggone . . .throw me a bone here . . .. . .what is IOKIAYAR??
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:00 pm
Jay
August 27th, 2010
3:57 pm
I’m right here, gov’t.
The posts I objected to from you regarded another poster’s alleged husband and his alleged activities. You recall them? I’d say Bosch’s indirect retort paled by comparison. Your mileage may of course vary.
THANKS JAY! I keep that BS in my pocket. Trust me it works both ways. BTW, how is CT?
jm
August 27th, 2010
4:00 pm
HDB – I don’t disagree about phasing in. Phase in over a single 4 year term though, or else it doesn’t happen.
Bosch
August 27th, 2010
4:00 pm
Reader,
If I may – “It’s OK if you are a Republican”
paleo-neo-Carlinist
August 27th, 2010
4:01 pm
I’m here… it’s not about “catering to blacks…” it’s about class. what you mean to say is; democrats have created a sub-working class, but it is not exclusive to one race. it has been documented there are more whites on the dole than blacks, but more blacks per capita. do you really think politicians care about race?
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:02 pm
Bosch
August 27th, 2010
3:57 pm
I’m here,
“AFTER 45 years of getting the shaft, most people would have figured it out years ago.”
Are you saying that black people are just too dumb to figure this out?
Son, I play a lot, I mean a lot of poker. When I “SEE” the ACE of SPADES, I know it!
HDB
August 27th, 2010
4:02 pm
I’m Here From The Government And I’m Here To Help
August 27th, 2010
3:47 pm
Where did conservatives/Dixiecrats go to bring the racist paradigm when they LEFT the Democratic Party?
What party did Ronald Reagan belong to when he said he supported segregation?
What party did Trent Lott belong to when he said: “”When Strom Thurmond ran for president, we voted for him. We’re proud of it. And if the rest of the country had followed our lead, we wouldn’t have had all these problems over the years, either.”
What party did John McCain and Jesse Helms belong to when they voted against Civil Rights Legislation and the MLK Holiday?
What party did Jesse Helms represent when he ran the most racist campaign against Harvey Gantt?
What party was CO-FOUNDED by black people, but conservatives do not want to remember that factoid??
Answer to ALL: REPUBLICANS!!
So why after 45 years of having the Republicans IGNORE blacks are the blacks worse off?
Hint: They don’t even think you exist!!!
Once "Recent" Reader
August 27th, 2010
4:03 pm
OK . . . .I slipped and threw in the “Bush Card” regarding kow-towing to Saudi Princes. Since Dems have been accused of blaming everything on Bush . . .I try to keep from doing that. (See the Fox pushing of “blame it on Bush” thing even worked on me!!!!) However – so many times I see conservatives bashing Obama for something they didn’t bash Republicans for in the past, and I lose my self control:(
AngryRedMarsWoman
August 27th, 2010
4:03 pm
HDB – I hate to tell you, but in many cases the amount of money you put into a school doesn’t make a difference. I was actually being sarcastic in my post because within the county the funding per student is actually pretty standard – so Osbourne does get the money that is paid by the folks whose kids go to Pope. The real difference is the quality of the people/parents. Presumably if you earn enough money to pay the higher taxes then you believe in the value of an education and pass that on to your children and they act accordingly. While there are certainly some “bad” kids that come out of “good” homes, in general the kids at Lassiter/Pope/Walton are not ditching classes, scrapping in the parking lot and tearing up the school or just dropping out like the ones over at Osbourne. Go and visit each one of those schools if you don’t believe me.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:04 pm
paleo-neo-Carlinist
August 27th, 2010
4:01 pm
ALL Politicians are WHORES! Sorry didn’t mean to offend the oldest job known to mankind!
paleo-neo-Carlinist
August 27th, 2010
4:04 pm
speaking of race, once Hitler and Mussolini had a race. Hitler lost because Mussolini was the fascist (rimshot).
HDB
August 27th, 2010
4:04 pm
jm
August 27th, 2010
4:00 pm
HDB – I don’t disagree about phasing in. Phase in over a single 4 year term though, or else it doesn’t happen.
I can go for that!
Once "Recent" Reader
August 27th, 2010
4:05 pm
Bosch . . .thanks. I actually forgot I asked about the IOKIYAR thing . . . . .so I initially thought you may have been confused by my posts and were saying it’s OK that “I’m” a Republican:) Of course I probably pretty much discounted that after my first post.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:05 pm
HDB
August 27th, 2010
4:02 pm
Not into your pissing match. Find someone who cares what you think! I don’t period.
paleo-neo-Carlinist
August 27th, 2010
4:07 pm
I’m here… close, but politicians are pimps – we’re actually the whores (we work for them, they exploit us, pick you metaphor). and the best part? in exchange they “protect us” just like a pimp claims.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:08 pm
Market check! Wish me luck! “Baby, needs new shoes”!
HDB
August 27th, 2010
4:09 pm
AngryRedMarsWoman August 27th, 2010
4:03 pm
“The real difference is the quality of the people/parents.”
That, I WHOLEHEARTEDLY agree with! Having been raised by a TEACHER, I knew the value of education….
School funding DOES make a difference, though….if one school has better books and equipment, the learning environment is better!!
@@
August 27th, 2010
4:09 pm
I’d say Bosch’s indirect retort paled by comparison.
OUCH!!!!!
Although “well intended”, this does not help Bosch’s image.
I’ve heard of bats in the belfry, but gnats up jay’s skirt?
Too funny!
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:10 pm
WAR ON TERROR CONTINUES….. Obama Runs away!
Iraqis Arrest 10 With Suspected Terrorism Ties
Compiled from U.S. Forces Iraq News Releases
WASHINGTON, Aug. 27, 2010 – Iraqi forces arrested 10 people believed to have ties to terrorists in three operations today, military officials reported.
In Baghdad, Iraqi forces working with U.S. advisors arrested a suspected Promised Day Brigade leader and two suspected criminal associates.
paleo-neo-Carlinist
August 27th, 2010
4:10 pm
I’m here… second oldest profession. first is selling salvation (men of the cloth). took some time for the carny-barkers to spit ball the script, and there are actually a couple different narratives to choose from (who says Americans don’t have choices), but it is essentially the same business plan.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:11 pm
Stocks are higher after the downward revision to 2Q GDP in the US was smaller than expected due to an upward adjustment to the reading on consumer spending, and bullish sentiment received a boost after Fed Chair Ben Bernanke said in a speech that the economic recovery remains intact, but that the Fed stands ready to respond if necessary, and Treasuries are lower.
HDB
August 27th, 2010
4:11 pm
I’m Here From The Government And I’m Here To Help
August 27th, 2010
4:05 pm
Not a pissing contest….but just wanted you to know that there are COUNTERarguments to every point of view!! If you aren’t willing to engage, how can you learn??
To ALL: Have a safe, blessed..and wonderful weekend!!
williebkind
August 27th, 2010
4:13 pm
I need to borrow a buck so I can buy a lotto ticket. I would trade in some of my food stamps but I dont have food stamps. I would rent out a room in my government housing, but I dont have government housing. I would use my unemployment check money but my 99weeks ran out. C’mon buddy you can spare a buck!
It's coming
August 27th, 2010
4:16 pm
Ahh yes, November 3, 2010, will be a GREAT day!
Bosch
August 27th, 2010
4:16 pm
Reader,
http://www.webopedia.com/quick_ref/textmessageabbreviations.asp#i
That particular one isn’t on there though — but it has a bunch for your purview.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:17 pm
paleo-neo-Carlinist
August 27th, 2010
4:10 pm
I stand corrected! Thank You!
Pogo
August 27th, 2010
4:17 pm
Bookman, let’s face it, you’re just a journalistic “HO” for the democrats and that is about it. Obama is an idiot. The Whitehouse and Congress are controlled by disconnected/decadent progressive buffoons and this country is going down the drain. And this time I don’t think it will stop. There just isn’t enough money out there to pay for the politicians anymore. Anarchy is tap, tap, tapping at our door.
Bosch
August 27th, 2010
4:18 pm
I’m here,
HDB counters your argument with facts and yet you aren’t into his “pissing match” — a match that you yourself brought up to begin with?
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:18 pm
HDB
August 27th, 2010
4:11 pm
Again, it will not be from you. BYE BYE!
jm
August 27th, 2010
4:19 pm
Here’s the stupidest thing about Medicare and Social Security. A good portion of these folks have significant savings and don’t need government funded Medic and SS. Government should help provide a strong safety net, but it should be a NET, to catch you when you reach rock bottom. Otherwise, you should be on your own. I think this right of center country generally might agree with this premise.
Furthermore, Medicare is significantly responsible for blowing up healthcare costs. Anytime something becomes close to free, too much of it gets consumed and we go bankrupt (read housing industry, or student loan business). So higher deductibles for health care are needed for those who still need government assistance in health care.
We have to be partially responsible for ourselves, or this country fails.
Here’s an eye opener for why Germany is way outperforming the US currently.
Germany: Population – 82 million, of which over 41 million are working (50%)
US: Population – 305 million, about 130 million or 42% are working. At full employment it was 45%.
That means the US has, through one form or another, an extra 5% or so on the dole. There are demographic and economic differences between the US and Germany, but at its core, believe it or not Germany is just more productive.
One can think a more conservative economic policy in Germany for that.
Bosch
August 27th, 2010
4:19 pm
And, by God, Pogo wants his country back!
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:20 pm
Bosch
August 27th, 2010
4:16 pm
Try You Tube! They have pictures and everything!
paleo-neo-Carlinist
August 27th, 2010
4:22 pm
I’m here… one more correction. how is the arrest of 10 suspected terrorists in IRAQ (by Iraqi security forces, with the help of U.S. advisors) “Obama runs away”? seems to me this would be an even better story if the Iraqi security forces can police their own country and arrest, try, convict, and sometimes execute their own terrorists; like we did here with Ramsi Yusef, Tim McVeigh, Eric Rudolph, Richard Reid, and that underwear bomber loser.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:28 pm
paleo-neo-Carlinist
August 27th, 2010
4:22 pm
The Iraq’s will be overrun unless we go back in. What’s that gonna cost? It’s just a matter of time!
Hmmmmmmm
August 27th, 2010
4:35 pm
Bosch
That’s exactly what he is saying. Even with a black President, black people in general are being dupped….. As always some things never change, but don’t get too mad, these politicians are not color blind. They are taking advantage of all…….. That’s why we should all rise up and vote EVERY last one of these crooks out of office!
Once "Recent" Reader
August 27th, 2010
4:36 pm
Bosch – Thanks for the Text Acronmy Decoding site:) I will study up so as to not show my age . . .or at least my late arrival into the texting world.
paleo-neo-Carlinist
August 27th, 2010
4:37 pm
I’m here… I wasn’t the only one, to suggest as much, but as long as there is oil under the sand, Iraq will not be “overrun”. why do you think we still have 50,000 “non-combat” troops and 7-10,000 contractors (merecenaries) in country? my guess is, when all is said and done, Iraq will break apart into a confederation of; or three independent “ethnic” states (Kurds, Shiites and Sunnis), kind of like the USSR (Lithuania, Estonia, Russia, Kazhakstan, Uzbekstan, etc.). the problem is the oil, and there maybe needs to be some “central” government to ’spread the wealth’ (to cite Barzini from the Godfather; “after all, they’re not communists”). the Kirds don’t want this because they’re atop most of the untapped oil (why do you think we’re tightest with the Kurds?). but were it not for oil, Iraq would be Somalia, Yemen, or some other “failed state”.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:37 pm
Those apparently terrifying housing numbers? They’re, eh, pretty much what the experts expected. Stay frosty
Once "Recent" Reader
August 27th, 2010
4:39 pm
Hmmmmmmmm . . . . . . .I don’t think this President ever indicated he was going to help out Black Americans in particular. Hate/Like/Love his policies . . .he always said he was running for President to represent all Americans and not any race/religion/group. Now his being elected alone does show that one more group has a chance to be President . . . .as Kennedy did for Catholics. Although, I don’t believe a Catholic has been President since Kennedy:) Who will break the political hallowed ground next? My odds are on a Woman.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:40 pm
Voter Fraud in Harris County?
Harris County officials are bringing allegations of major voter registration fraud against a Houston non-profit.
Jason VolentineKIAH
9:45 PM CDT, August 24, 2010
HOUSTON – Harris County Voter Registrar Leo Vasquez announced Tuesday that Houston Votes – a local non-profit organization that recruits voters – turned in more than 5,000 fraudulent voter registration applications.
“The integrity of the voter role of Harris County Texas appears to be under an organized and systematic attack by the group operating under the name Houston Votes,” Vasquez said.
Vasquez said some of the problems include multiple applications for the same person, applications for people already registered, incomplete applications, applications from non-U.S. citizens and several from people too young to vote.
“We have evidence indicating violation of the Texas Election Code, falsified documents being submitted to this office and possible violations of federal election laws,” said Vasquez.
Houston Votes admits volunteers could have submitted some faulty applications. However, organizers said if any deficiencies occurred, they were not on purpose.
“If someone was signed up fraudulently, whoever did it was terminated,” Houston Votes Director Sean Caddle said.
But Vazquez said the problems go right to the organization’s top management.
“Volunteer Deputy Sean Caddle has submitted 23 incomplete [applications], 37 pre-existing voters, two underage and numerous duplicate applications,” Vazquez said.
The allegations first came from True the Vote, a Houston voter watchdog group.
“[We are] just a concerned group of citizens,” said Catherine Engelbrecht with True the Vote.
Voting investigators said there are thousands of fraudulent voter registrations floating around Harris County.
“We were stunned, but now that we know what exists to not do anything would make us complicit in it. So we’ve got to keep after it,” Engelbrecht said.
Vasquez said he will refer this case to the Harris County Attorney and Secretary of State. It will be their decision whether to press charges.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
4:45 pm
The National Rifle Association, already on high alert over gun control rumors, has gone to battle stations to fight a new scheme before the Environmental Protection Agency to restrict hunters and anglers from using lead bullets, shot and sinkers.
Chief NRA lobbyist Chris Cox charges in a letter to the EPA that the effort amounts to “a vehicle to implement gun control” and could end hunting by most who can’t afford the higher priced alternatives to lead.
tscali
August 27th, 2010
4:48 pm
the sooner minorities (black, brown, yellow, red, PURPLE POLKA DOTTED) are able to make it on their own, the better off we will ALL be. it is THE PEOPLE who need to UNITE against the government apparatus.
Eric
August 27th, 2010
4:59 pm
Sure there is Jay.. 2 quick fixes
1. Nov. 2010
2. Nov 2012
Bye Bye Barry … “Never Again”
Once "Recent" Reader
August 27th, 2010
5:12 pm
Eric . . …Oh if life were only so easy. We’ll see first what happens in 2010 and if the Reps gain control of House and/or Senate. Then we’ll see what new excuses will arise. It actually is easier to criticize/destruct than it is to add good input and build. If the Conservatives gain power I’m sure they’ll still come up with a way to blame Dems if things to magically transform as they expect them to do right now.
marko
August 27th, 2010
5:17 pm
Europeans have problems too. But then they have a lot of free time to figure out what to do about the situation. On average they get five plus weeks of vacation time. Boatloads of paid holidays and generous family leave time. All in all, they’re getting more in benefits than their systems can support. In France they face the grim posibility of raising the retirement age from sixty to sixty-two. Kinda makes your heart bleed for the poor bastards does’nt it? Politicians gain votes by appealing to our greed or our fears. France likes greed. America prefers fear. They get vacations,we get saved from homosexual flag burners. In the end you get what you vote for. All I am saying is give greed a chance. But what the hell do I know? Without Newt and his fright wingers flags would be dying horrible deaths on every street corner in America.
Lil' Barry Bailout
August 27th, 2010
5:37 pm
HDB: unemployment spiked under Bush
—————————–
Spiked? You’re pathetically uninformed. Unemployment was 4-6% under our President Bush. How’s that hope and change working out for you?
Jay
August 27th, 2010
5:47 pm
Actually, barry, unemployment was 7.7 percent when Bush left office in January 2009, a jump from 5.0 percent a year earlier. It continued on that trajectory until October of that year, peaking at 10.1 percent, then began to decline.
Just so you’re informed and all.
Once "Recent" Reader
August 27th, 2010
5:53 pm
Jay . . .thanks for the info. I was searching around for a chart that would show 2007, 2008, 2009, and 2010 with no luck. I do remember the massive job losses seemed to stop around March 2009 with approximately 650 K. The bulk of the job losses occured between August 2008 – March 2009 – about 7.5 million I believe. Pres had about 2 full months in office at that time.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
5:55 pm
Actually unemployment has NEVER been below 3.8% since records have been kept. So, 3.8% will NEVER WORK. Only in American, baby!
Once "Recent" Reader
August 27th, 2010
5:56 pm
Note: My 7.5 million job losses count seems off. Maybe that was the total loss during the recession through March 2009. Gotta go check.
F. Sinkwich
August 27th, 2010
5:56 pm
Whew. Them’s some sobering nums, Jay.
Good thing we’ve got the Messiah in charge to get us out of this.
Oh, that’s right. So far he’s only made things worse.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
5:58 pm
Once “Recent” Reader
I posted it on Jay’s Blog yesterday. Obama’s holds the record for the highest in recorded history in 2009. What a job he is not doing. Congratulations, you do reap what you sow!
Once "Recent" Reader
August 27th, 2010
6:09 pm
Hey I’m Here From Gov . . .. .Did you post the Job Loss numbers? I did see something showing 2.19 million jobs lost through May of 2009. OK, folks can trash this but I think we have to examine that time period. 651K in Feb 09, 663K in Mar 09, 539K in April 09, and 345K in May 09. Gov . . .I know often the Dems aren’t fair to Bush just as we believe Reps aren’t fair to Obama. But take a look at these numbers. I remember that time period well and many losses were the result of massive lay-offs. I know how those things are organized and they do not happen overnight. They normally are a couple of months in the planning for Security and Operational purposes. So yes . .. .I’m saying that the the large % of those losses through April were probably planned at the very beginning of the year . . . .even if they were planned in February – I don’t see how you it would be fair to apply them to the current Admin. That’s just my experienced assessment of how lay-offs work. Would you say that is a fair assessment?? Listen, I don’t blame Bush Admin for the economic downturn . . .too many factors. But I really can’t see how anyone would put blame on jobs lost the first three months of a new Admin can be put on them. Especially when we are so close to that time period and can clearly look back at what happened.
Once "Recent" Reader
August 27th, 2010
6:11 pm
Clarification: I don’t put full blame on Bush Admin for recession. I do believe some of their policies did play a factor, as did some of those policies supported by Dems.
F. Sinkwich
August 27th, 2010
6:11 pm
Face it, lefties. Our socialist president has cratered our economy with his anti-business agenda. He hates the free market system — always has, always will.
No way in hell will a businessman invest in anything as long as this Marxist and his anti-capitalist hopey-changey acolytes have anything to do with government policy.
Carter is breathing a sigh of relief that he won’t be considered the worst president in most of our lifetimes.
I'm Here From The Government And I'm Here To Help
August 27th, 2010
6:26 pm
We’re SAVED!
Obama, Bloomberg talk about brutal economy — over golf game…
I'm Here From The Government And I'm Here To Help
August 27th, 2010
6:28 pm
Obama, Dems got 88% of employee contributions from ABCCBSNBC..
I'm Here From The Government And I'm Here To Help
August 27th, 2010
6:29 pm
Jerry Springer: Obama is an excellent president…
Once "Recent" Reader
August 27th, 2010
6:36 pm
F. Sinkwich . . …before you have history placing our current President at the bottom of the ratings list, you should go back and see what the Conservatives thought of Franklin D. Roosevelt, whom is in the top 5 of almost every list.
2 Help Gov . .. …that Jerry Springer is one wile guy:)
Once "Recent" Reader
August 27th, 2010
6:38 pm
F. Sinkwich . . . .but he’ll probably lose a lot of votes in the Pres. rating system for being a Muslim and a non-US citizen. Huh??????
barking frog
August 27th, 2010
7:02 pm
Jeree….Jereee,,,Jeree
barking frog
August 27th, 2010
7:11 pm
Obozo huh, taking out the opposition..
1. John Mcain-loser
2. Mit Romney-loser, stole his healthcare(all he had)
3. Petraeus-banished to Afghanistan where there’s no
chance to win.
4. Gingrich-loser(did it himself)
next…
Don't forget
August 27th, 2010
7:24 pm
Jay mentioned unemployment. Most people don’t remember but unemployment was about 7.2% when Reagan took office, it skyrocketed to 10.7% and was still at 10.5% at this point in his first term. His approval rating was at 35% 18 months prior to his landslide victory in 1984. Things got better for Reagan and nobody wanted to go back to Carter’s policies once the economy started to turn around. A recovery in 2011 might actually benefit Obama more in the long run than a recovery this year.
Lil' Barry Bailout
August 27th, 2010
8:31 pm
So was unemployment higher under our President Bush, or under the Idiot Messiah?
That’s what I thought.
Lil' Barry Bailout
August 27th, 2010
8:34 pm
Big difference between President Reagan and the Idiot Messiah…the Idiot Messiah is doing the exact opposite of what should be done to help the economy and foster growth in employment. His war on business has things headed in the wrong direction.
Americans cannot WAIT until the first Tuesday in November to start taking power away from the fascist-in chief.
Lil' Barry Bailout
August 27th, 2010
8:37 pm
The Idiot Messiah reminds me of that Seinfeld episode where George decides to do the opposite of what his natural instincts tell him. Maybe if the Idiot Messiah did the opposite of what his anti-business, anti-profit, anti-private-property Marxist instincts tell him, he wouldn’t be such a huge failure.
Southern Harmony
August 27th, 2010
10:04 pm
reagan policy was Carter policy until voger was replaced by greenspan
I could be wrong
2010 races if its not a new face[ both side]
it be more of the same
my mortgage company thinks my house is worth 45000.00 more then the tax value
maybe after ever thing is fixed
obama&bush worked for the same people
Lil' Barry Bailout
August 28th, 2010
5:11 am
Southern Harmony: my mortgage company thinks my house is worth 45000.00 more then the tax value
——————-
CORRECTION: You and your mortgage company mutually agreed on terms for a loan, the mortgage company fulfilled their part of the contract, and now they expect the same of you.
Lil' Barry Bailout
August 28th, 2010
6:03 am
It’s day 585 of the Idiot Messiah administration, and of Mike Luckovich’s embargo on cartoons critical of sitting US presidents.
Luckovich is a coward.
There’s no Santa or Tooth Fairy, and no quick fix for economy – Atlanta Journal Constitution (blog) :: Green Santa Claus gives you a big present on Skill17.com
August 28th, 2010
12:18 pm
[...] is the original post: There’s no Santa or Tooth Fairy, and no quick fix for economy – Atlanta Journal Constitu… Categories : Green Santa [...]
Lil' Barry Bailout
August 29th, 2010
4:52 pm
Ain’t no Pulitzer Prizes for editorial cartoons criticizing the Idiot Messiah, eh Luckovich?
Scott
August 31st, 2010
9:46 pm
The only True Lasting Solution to periodical economic downturns is to recognize and honor the Inherent Birthright of Land that every Individual has. Noe of us created the Earth but it is something which we all need in order to live and therefore it is a Birthright of Life Inherent in each Individual.
William in Lithonia
August 31st, 2010
10:34 pm
America needs jobs.
The unemployment rate is highest in the very groups that could build a clean energy infrastructure to make America energy independent and repair the infrastructure that is in need of repair.
Republicans claim a Depression is not the time for raising taxes on the top 2% (who don’t invest when no one has money to buy anything) and is not a time for government spending.
Republicans are wrong on both accounts as Franklin Roosevelt proved when his policies got us out of the first great depression caused by Republican tax cuts and deregulation.
President Roosevelt raised the top tax rate to 90% and initiated massive government spending (including World War II, the GI Bill, regulation of banks, infrastructure spending, and a social safety net.) He won world war II and created the greatest middle class in history out of the Great Depression like a Phoenix rising from the Republican deregulation ashes.
America went from importing 24% of our oil to importing over 65% in the past 40 years.
American dependencey on foriegn energy is one of our biggest national security risks. Even worse now than during the Oil embargo of the 1970’s.
America uses a lot of oil. Every day 85 million barrels of oil are produced around the world. And 21 million of those are used here in the United States.
That’s 25% of the world’s oil demand. Used by just 4% of the world’s population.
Can’t we just produce more oil?
Consider this: America imports 12 million barrels a day, and Saudi Arabia only produces 9 million a day. Is there really more undiscovered oil here than in all of Saudi Arabia?
There are several pillars to the Pickens Plan:
Create millions of new jobs by building out the capacity to generate up to 22 percent of our electricity from wind. And adding to that with additional solar generation capacity;
Building a 21st century backbone electrical transmission grid;
Providing incentives for homeowners and the owners of commercial buildings to upgrade their insulation and other energy saving options;
and Using America’s natural gas to replace imported oil as a transportation fuel in addition to its other uses in power generation, chemicals, etc.
New jobs from renewable energy and conservation.
Any discussion of alternatives should begin with the 2007 Department of Energy study showing that building out our wind capacity in the Great Plains – from northern Texas to the Canadian border – would produce 138,000 new jobs in the first year, and more than 3.4 million new jobs over a ten-year period, while also producing as much as 20 percent of our needed electricity.
Building out solar energy in the Southwest from western Texas to California would add to the boom of new jobs and provide more of our growing electrical needs – doing so through economically viable, clean, renewable sources.
To move that electricity from where it is being produced to where it is needed will require an upgrade to our national electric grid. A 21st century transmission grid which will, as technology continues to develop, deliver power where it is needed, when it is needed, in the direction that it is needed, will be the modern equivalent of building the Interstate Highway System in the 1950’s.
Beyond that, tremendous improvements in electricity use can be made by creating incentives for owners of homes and commercial buildings to retrofit their spaces with proper insulation. Studies show that a significant upgrading of insulation would save the equivalent of one million barrels of oil per day in energy by cutting down on both air conditioning costs in warm weather and heating costs in winter.
A domestic fuel to free us from foreign oil.
The Honda Civic GX Natural Gas Vehicle is the cleanest internal-combustion vehicle in the world according to the EPA.
Conserving and harnessing renewable forms of electricity not only has incredible economic benefits, but is also a crucial piece of the oil dependence puzzle. We should continue to pursue the promise of electric or hydrogen powered vehicles, but America needs to address transportation fuel today. Fortunately, we are blessed with an abundance of clean, cheap, domestic natural gas.
Currently, domestic natural gas is primarily used to generate electricity. It has the advantage of being cheap and significantly cleaner than coal, but this is not the only use of our natural gas resources.
By aggressively moving to shift America’s car, light duty and heavy truck fleets from imported gasoline and diesel to domestic natural gas we can lower our need for foreign oil – helping President Obama reach his goal of zero oil imports from the Middle East within ten years.
Nearly 33% of every barrel of oil we import is used by 18-wheelers moving goods around and across the country by burning imported diesel. An over-the-road truck cannot be moved using current battery technology. Fleet vehicles like buses, taxis, express delivery trucks, and municipal and utility vehicles (any vehicle which returns to the “barn” each night where refueling is a simple matter) should be replaced by vehicles running on clean, cheap, domestic natural gas rather than
imported gasoline or diesel fuel.
The Obama Biden comprehensive New Energy for America plan will:
Provide short term relief to American families facing pain at the pump
Help create five million new jobs by strategically investing $150 billion over the next ten years to catalyze private efforts to build a clean energy future.
Within 10 years save more oil than we currently import from the Middle East and Venezuela combined
Put 1 million Plug In Hybrid cars – cars that can get up to 150 miles per gallon – on the road by 2015, cars that we will work to make sure are built here in America
Ensure 10 percent of our electricity comes from renewable sources by 2012, and 25 percent by 2025
Implement an economy wide cap and trade program to reduce greenhouse gas emissions 80 percent by 2050
Prior to 1950 the U.S. had absolute energy independence. In 1950 the USA was producing over 50 percent of the world’s oil, enough for all of its own needs with plenty left over for exports. But the post World War II U.S. economic boom eventually created demand for more oil than U.S. wells could produce.
Between 1950 and 1973 (the year of the embargo) U.S. oil imports had grown from near zero to about 32 percent of U.S. oil consumption. By 1994, the U.S. was importing more oil than it produced. In 2010, oil imports will provide about 60 percent of all oil consumed in the USA.
The 1973 oil embargo had exposed the harsh reality that America was dangerously dependent on imported oil. The energy independence policies of Presidents Nixon, Ford and Carter had demonstrated that America can achieve strategic energy independence through political will and legislative action.
It took nearly ten years for U.S. energy independence policies to take effect and reverse the trend of growing oil dependence, but the results were worth the effort.
For a brief period between 1982 and 1985 U.S. oil imports averaged less than 30% of total U.S. oil consumption.
Developing alternative energy sources (primarily coal, nuclear and natural gas to replace fuel oil used for heating and electricity generation) and keeping oil imports below 30% of total oil consumption had broken the Organization of Petroleum Exporting Countries (OPEC), and ultimately exposed OPEC’s vulnerability: dependence on oil money.
The USA enjoyed strategic energy independence between 1982 and 1985.
But then, in 1986 U.S. oil imports began to increase again. Why?
By July 1986 the price of oil had fallen below $9 per barrel. Ronald Reagan was then President of the United States.
President Reagan had abandoned the energy independence policies of his predecessors in favor of a free market policy, where private industry would provide all of America’s energy needs without government interference.
The gap between the wealthiest Americans and middle- and working-class Americans has more than tripled in the past three decades, according to a June 25, 2010 report by the Center on Budget and Policy Priorities.
Since 1980, we’ve lost half our manufacturing jobs. We’ve lost 10 million manufacturing jobs since job protecting tariffs were cut.
Imports are $1.563 trillion (2009 est.) $2.117 trillion (2008 est.)
Imports – commodities:
agricultural products 4.9%, industrial supplies 32.9% (crude oil 8.2%), capital goods 30.4% (computers, telecommunications equipment, motor vehicle parts, office machines, electric power machinery), consumer goods 31.8% (automobiles, clothing, medicines, furniture, toys)
March 20, 2003 the price of oil was $26 per barrel. Five years later, March 20, 2008 the price of oil had risen to $100 per barrel. Then, during July of 2008 the price of oil hit $147 per barrel, with a weekly average of $130.
From September 2007 through October 2008, the world economy was rocked by the unprecedented transfer of more than one trillion dollars from European, Asian and American economies into Middle East national treasuries in exchange for oil.
Between 2003 and the summer of 2008 the price of oil quadrupled because of market fears. War in the Middle East and threat of a nuclear armed Iran intensified worldwide fear of an oil supply interruption — fear of a global oil shortage produced the market speculation responsible for pushing oil prices to $147 per barrel during the summer of 2008.
Fear of a global oil shortage added a “fear premium” to the cost of oil, inflating the price of oil on the world market by over two trillion dollars per year. The increased cost of oil caused over two trillion dollars to be taken out of consumers’ pockets worldwide. Two trillion dollars that was no longer available for buying other products and services. Global business stalled, jobs were cut, and consumers stopped spending.
The dramatic rise and fall of worldwide oil prices exposed the insidious influence of unregulated commodity speculation. Clandestine trading on the world commodity market caused the price of oil to spike to a level that would otherwise only result from a terrorist attack on a major oil production facility or supply line.
In addition to putting our security in the hands of potentially unfriendly and unstable foreign nations, we spent $475 billion on foreign oil in 2008 alone. That’s money taken out of our economy and sent to foreign nations, and it will continue to drain the life from our economy for as long as we fail to stop the bleeding.
Projected over the next 10 years the cost will be $10 trillion – it will be the greatest transfer of wealth in the history of mankind.
August 17, 2010:
Less than a High school diploma, 25 or older: 15% unemployment.
High school graduates, no college, 25 or older: 10% unemployment.
Some College or Associate Degree, 25 or older: 8% unemployment.
Bachelors degree and higher, 25 or older: 5% unemployment.
America needs jobs.
The unemployment rate is highest in the very groups that could build a clean energy infrastructure to make America energy independent and repair the infrastructure that is in need of repair.
Republicans claim a Depression is not the time for raising taxes on the top 2% (who don’t invest when no one has money to buy anything) and is not a time for government spending.
Republicans are wrong on both accounts as Franklin Roosevelt proved when his policies got us out of the first great depression caused by Republican tax cuts and deregulation.
President Roosevelt raised the top tax rate to 90% and initiated massive government spending (including World War II, the GI Bill, regulation of banks, infrastructure spending, and a social safety net.) He won world war II and created the greatest middle class in history out of the Great Depression like a Phoenix rising from the Republican deregulation ashes.
We can solve our economic problems, our lack of jobs, by solving our energy dependence and infrastructure problems and restrict the necessary spending to products made in America.