Posts Tagged ‘housing

14
Mar
15

A Tweet Or Two

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EricFive’s on point commentary about cops in Ferguson

No one knows who shot those cops, all we have is speculation and attempts to deflect blame from the epidemic of cops killing unarmed Black males. The “tension” between cops and minority communities is a decades old problem (police as occupying force instead of public servants). The recent spike in police killings of unarmed Black males is a symptom of the larger issue of White racial anxiety which is reaching dangerous levels. The cop in Atlanta who murdered the unarmed, naked veteran who had mental problems should open up a lot of eyes to what is going on, i.e., Black lives don’t matter to these folks. Being Black is becoming a capital offense in this country. How the response to an obviously mental ill naked man is to use deadly force (not a baton, not a taser, not calling for backup) tells me that they are looking for an excuse to murder Black people (more restrain is shown toward a fucking alligator walking through a golf course than a Black man walking down the street). By the “logic” displayed by the Atlanta cop, the proper police response to a Black man threatening to jump from a rooftop would be to call in the snipers to shoot the man. There will never be any semblance of “equality” in this country until a Black life is deemed by society to be of equal value to a White life. This has never been the case in this country and it most certainly is not the case today. All of this racial shit stems from the mental gymnastics that the institution of slavery required of a White society that had/has an almost pathological need to see itself as “good people” no matter what horrible shit they did. You cannot enslave folks you view as your equals. You cannot enslave a race of people you view as human and still see yourself as “good person”. Instead, to maintain a positive self image, the slaveholder has to convince both himself (and the slave) that the slave is “inferior” and DESERVES the horrible treatment he/she is forced to endure. That the slave is not HUMAN. This inability to see Black people as fellow human beings, the inability to understand the grief of a Black parent mourning for a child needlessly killed by the police is the same strain of racist/White supremacy that allowed for the enslavement of Black people in the “land of the free”.

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Continue reading ‘A Tweet Or Two’

08
Jan
15

The President’s Day

Children wave at President Barack Obama’s motorcade as he visits Phoenix on Jan. 8

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People wait in line to get into Central High School in Phoenix to see President Obama speak

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Barack Obama

President Barack Obama speaks about housing and home ownership and announces a cut in mortgage insurance premiums on Federal Housing Administration loans, at Central High School in Phoenix

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President Obama, joined by Housing and Urban Development Secretary Julian Castro speaks outside a home in a housing development in Phoenix

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President Obama, joined by Housing and Urban Development Secretary Julian Castro, left, and Chicanos Por La Causa’s Edmundo Hidalgo, right, and David Adame, speaks outside a home in a housing development in Phoenix

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(Doug Mills)

U.S. President Barack Obama greets a woman and child during a visit to a Phoenix neighborhood

A woman is surprised when she runs into President Barack Obama in her neighborhood

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Barack Obama

Barack Obama

Barack Obama

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@dougmillsnyt: President Obama board Air Force One in AZ, for his trip back the Washington.

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President Barack Obama signs a condolences book during a visit to the French Embassy

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President Obama stands with France’s Ambassador to the United States Gerard Araud as he pays his respects over the attack at the French newspaper Charlie Hebdo, during a visit to the French Embassy in Washington

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29
Sep
14

More Positive Economic News? Thanks, President Obama

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NYT: Business Spending, Exports Spur Big Bounce In U.S. Economy

The U.S. economy grew at its fastest pace in 2-1/2 years in the second quarter with all sectors contributing to the jump in output in a bullish signal for the remainder of the year. The Commerce Department on Friday raised its estimate of growth in gross domestic product to a 4.6 percent annual rate from the 4.2 percent pace reported last month. The United States is bucking a spate of weaker overseas growth with the euro zone and Japan slumping, and growth in China slowing as well. the expansion in consumer spending, combined with strong business investment,

was nevertheless enough to push domestic demand ahead at its fastest pace since 2010. That suggests the economy’s recovery is becoming more durable after output slumped at a 2.1 percent rate in the first quarter because of an unusually cold winter. So far, data covering manufacturing, trade and housing suggest that much of the second quarter’s momentum spilled over into the third quarter. Growth estimates for the July-September quarter range as high as a 3.5 percent pace. When measured from the income side, the economy grew at a 5.2 percent pace during the second quarter…export growth was raised to an 11.1 percent pace, the fastest since the fourth quarter of 2010, from a 10.1 percent rate.

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Jason Furman: Third Estimate of GDP For The Second Quarter Of 2014

1. Real gross domestic product (GDP) increased 4.6 percent at an annual rate in the second quarter of 2014, the fastest pace since the fourth quarter of 2011, according to the third estimate from the Bureau of Economic Analysis. The strong second-quarter growth represents a rebound from a first-quarter decline in GDP that largely reflected transitory factors like unusually severe winter weather and a sharp slowdown in inventory investment. Growth in consumer spending and business investment picked up in the second quarter, and residential investment increased following two straight quarters of decline. Additionally, State and local government spending grew at the fastest quarterly rate in five years. However, net exports subtracted from overall GDP growth, as imports grew slightly faster than exports.

Real gross domestic income (GDI), an alternative measure of the overall size of the economy, was up 5.2 percent at an annual rate in the second quarter. 3. Over the past four quarters, real GDP has risen 2.6 percent, faster than the 2.0 percent annualized pace observed over the preceding eight-quarter period. Looking at four- and eight-quarter changes to smooth some of the quarter-to-quarter volatility, it is clear that many components of GDP are showing improvement. The growth rates of consumer spending, business investment and exports have all picked up, and the pace of declines in the Federal sector have moderated a bit. In addition, the State and local government sector has turned positive, after several years of steady cutbacks. One area that has slowed over the last four quarters is residential investment, although it did rebound in the second quarter.

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30
Aug
14

President Obama’s Policies Aren’t Working? Tell Us Another Lie, GOP

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22
Aug
14

Team Obama-Holder: Getting The Job Done

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AP: Bank Of America Agrees To Nearly $17B Settlement

The government has reached a $16.65 billion settlement with Bank of America over its role in the sale of mortgage-backed securities in the run-up to the financial crisis, the Justice Department announced Thursday. The deal calls for the bank, the second-largest in the U.S., to pay a $5 billion cash penalty, another $4.6 billion in remediation payments and provide about $7 billion in relief to struggling homeowners. The settlement is by far the largest deal the Justice Department has reached with a bank over the 2008 mortgage meltdown.

In the last year, JPMorgan Chase & Co. agreed to a $13 billion settlement while Citigroup reached a separate $7 billion deal. At a news conference, Attorney General Eric Holder said the bank and its Countrywide and Merrill Lynch subsidiaries had “engaged in pervasive schemes to defraud financial institutions and other investors” by misrepresenting the soundness of mortgage-backed securities. The penalties, Holder said, go “far beyond the cost of doing business.”

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Bloomberg: Housing Starts Rebound In U.S. As Inflation Eases

Home construction rebounded in July and the cost of living rose at a slower pace, showing a strengthening U.S. economy has yet to generate a sustained pickup in inflation. A 15.7 percent jump took housing starts to a 1.09 million annualized rate, the strongest since November, and halted a two-month slide, the Commerce Department said in Washington. The consumer price index increased 0.1 percent after rising 0.3 percent in June, the Labor Department also reported. An improving job market and cheaper borrowing costs are helping revive residential real estate, helping boost sales at companies such as Home Depot Inc. (HD) As inflation continues to run below the Federal Reserve’s target, it gives the central bank room to keep interest rates low well after the projected end of its bond-buying program in October.

The pickup in housing starts in the U.S. exceeded all estimates in a Bloomberg survey of 75 economists. The median projection called for 965,000, within a range of 898,000 to 1.03 million. The Commerce Department also revised June’s reading up to a 945,000 pace from a previously reported 893,000. The report also indicated the building industry will probably consolidate gains in coming months as permits for future projects advanced 8.1 percent to a 1.05 million pace, about in line with the current level of starts. The gain reflected the most applications for single-family dwellings since November.

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Bloomberg: Job Market Tilts Toward U.S. Workers In Virtuous Cycle

The balance of power in the job market is shifting slowly toward employees from employers. Bob Funk sees it firsthand from his position as chief executive officer of staffing agency Express Employment Professionals. “We’re short of people in a number of cities,” he said. So he’s changing the focus of his $2.5 billion, Oklahoma City-based business. Instead of concentrating on finding jobs for those who want them, Express Employment is putting more effort into finding workers for companies that need them. “We’re back in the recruiting market again,” Funk said. The 74-year-old industry veteran isn’t the only one to notice the change. Americans who have been hunting for employment for more than six months

are finding they’re having better luck landing a job, while people who had given up looking are returning to the labor force to resume their search. Companies, meanwhile, are beefing up their in-house recruiting teams and increasingly using complicated computer algorithms to scour the Web for prospective job candidates. This is all good news for the economy, according to Nariman Behravesh, the Lexington, Massachusetts-based chief economist for IHS Inc. He said the U.S. has entered a “virtuous cycle” where job gains are leading to increased household expenditures, encouraging employers to hire more workers. Consumer spending rose in June by the most in three months, according to Commerce Department data published Aug. 1.

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