Tag: Housing

Good News for Californians: Redevelopment Agencies Shut Down »

In the face of substantial budgetary problems, California’s legislature voted to shut down its more than 400 redevelopment agencies that used tax dollars to partner with developers to redevelop blighted areas. Governor Jerry Brown proposed shutting down those agencies, saying the $5 billion they spent annually could be better spent elsewhere. One reason this...
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The Welfare State Neutralizes Potential Opponents by Making Them Dependent on Government Benefits »

From time immemorial—from Etienne de la Boitie to David Hume to Ludwig von Mises—political analysts have noted that because the number of those in the ruling elite amounts to only a small fraction of the number in the ruled masses, every regime lives or dies in accordance with “public opinion.” Unless the mass of the people,...
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U.S. Economic Recovery Remains Anemic, at Best »

How goes the recovery? Not well, it seems. Indeed, according to the most recent official estimates, it is anemic, at best. As the chart shows, real GDP has recovered its losses during the recent contraction and is now running at about the same rate as it was at its pre-recession peak in late 2007. So, the rate at which the...
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Government Stimulus: Polishing the Rotten Apples »

Once upon a time in a land far, far away, there was a country famous for its apples. In fact, it produced nothing but apples and so was called Appleonia. The people ate many apples in many different ways: raw apples, baked apples, apple pies, apple fritters, and candied apples, to name just a...
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It’s Housing, Stupid! Parallels Between the 1920s and the 2000s »

In response to my recent essay “Obama and Hoover: Two ‘Smart’ (Stupid) Presidents”, one commenter did me the service of rehashing the old myths about the 1920s and the causes of the depression and how Herbert Hoover did little, FDR did a lot and Hoover has nothing in common with “Wonder Boy” Obama. (Coolidge...
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Land Use Planning Takes a Step Back in Florida »

Florida’s new Governor Rick Scott promised to cut government and make Florida more business-friendly when he campaigned. In addition to overseeing a reduction in state spending, which I wrote about here, he also dialed back the state’s land use planning by cutting state oversight, and abolishing the agency that was the overseer. The bill...
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250 Legal Scholars Condemn Obama’s Treatment of Bradley Manning »

The Obama administration has detained the alleged Wikileaks whistleblower under torturous conditions—for almost a year, he has been subjected to solitary confinement in a windowless 6×12 cell for 23 hours a day, under constant surveillance, prevented from exercising, lacking a pillow or sheets. For the remaining hour every day, he is allowed to walk...
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Why Is Ralph Nader Surprised by Pres. Obama’s Uncharitableness? »

In a recent piece in The Chronicle of Philanthropy, Ralph Nader bemoans President Obama’s failure to use his position and standing to advance the non-profit sector: Yet, though he rhetorically urges more volunteerism, as all presidents do, in his travels around the country, he stops most often at factories and campaign fund-raising events patronized...
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News Item: Nearly 100 Banks Benefiting from TARP Are on the Brink of Collapse »

According to the Wall Street Journal’s Michael Rapoport (“Bailed-Out Banks Slip toward Failure”, 12/27/2010, p. C1), 98 U.S. financial institutions, which collectively were granted $4.2 billion in handouts under Washington’s Troubled Asset Relief Program (TARP), are in danger of going belly-up. The commercial banks imminently in peril, such as the Legacy Bank of Milwaukee...
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Notes on Bernanke’s Apologia for QE2 »

On November 4, an op-ed article written by Ben Bernanke, “What the Fed Did and Why: Supporting the Recovery and Sustaining Price Stability,” was published in the Washington Post. In this article, Bernanke presents an apologia for the Fed’s decision to undertake QE2, the purchase of $600 billion of longer-term U.S. government bonds during...
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