Many have by now heard or read the story of the plucky group of Hawaiians on the island of Kauai who, when faced with the loss of their businesses due to the state government’s inability to open park roads to a popular beach and camping area, took care of it themselves for a fraction of the cost and in a fraction of the time. How very Tocquevellian. Or, better, how very American. read more »
News Flash: The Federal Highway Trust Fund will go broke in August.
It went broke last year, and Congress needed an emergency transfer of $8 billion to keep it solvent. There was very little concern last year, but this year we find ourselves in a post-modernist political environment where managing a crisis is good politics, although actually all we do is talk about it. read more »
During the first ten days of October 2008, the Dow Jones dropped 2,399.47 points, losing 22.11% of its value and trillions of investor equity. The Federal Government pushed a $700 billion bail-out through Congress to rescue the beleaguered financial institutions. The collapse of the financial system in the fall of 2008 was likened to an earthquake. In reality, what happened was more like a shift of tectonic plates.
History will record that the tectonic plates of our financial world began to drift apart in the fall of 2008. The scale of this change may be most evident in housing.
PART TWO – THE HOME BUILDERS read more »
Nobel Prize-winning economist Paul Krugman was quoted widely for saying that the official recession will end this summer. Before you get overly excited, keep in mind that the recession he’s calling the end of started officially in December 2007. Now ask yourself this: when did you notice that the economy was in recession? Six months after it started? One year? read more »
LONDON - The thrashing of Britain's New Labour Party – which came in a weak third in local and European Parliament elections this week – may seem a minor event compared to Barack Obama's triumphal overseas tour. Yet in many ways the humiliation of New Labour should send some potential warning shots across the bow of the good ship Obama. read more »
Long before Chicago sold off its assets, made plastic cows parade and outlawed goose guts, there was Michael Cassius McDonald, Big Mike. Where the Chicago Machine now grinds the citizen with Progressive idiocies, Mike McDonald and other Machine Mavericks like the Lords of the Levee appeared to actually help people. Vice and Government have gone hand-in-hand since Solon tried to reason with Croesus – Hesiod tells us that political corruption sparks political thought. The life of Michael Cassius McDonald was active and thought-provoking. read more »
“Paint the world white to fight global warming” was the astonishing headline from The Times of London. The paper was referring to a presentation made by United States Secretary of Energy, Dr. Stephen Chu at the St. James Palace Nobel Laureate Symposium last week. Chu was reported as saying that that this approach could have a vast impact. read more »
Most Americans living outside the Chicago area identify the city with Oprah, Obama, or Michael Jordan. When the subject of who really runs Chicago comes up, most people would say Mayor Daley. Chicago's lack of term limits and persistent political machine have kept Mayor Daley in office for over 20 years.
Those who know Chicago politics know there's one man who's more powerful than Mayor Daley, Alderman Ed Burke. Mayor Daley may be the identifiable public face of Chicago's political system and act as a lightning rod for criticism, but the lower profile Alderman Burke wields the real power. read more »
Dionne Warwick posed the question more than 40 years ago, yet most Americans still don’t know ‘The way to San Jose’. Possessing neither the international cachet of San Francisco nor the notoriety of Oakland, San Jose continues to fly under the national radar in comparison to its Bay Area compatriots. Even with its self-proclaimed status as the ‘Heart of Silicon Valley’, many would be hard pressed to locate San Jose on a map of California. read more »
The hundreds of millions of dollars in federal stimulus money are working their way through various systems, en route to a city near you.
Give President Barack Obama credit for acting boldly to pump the funds into the economy – or take him to task for printing up money on the cuff.
Either way, the time has come to shift your focus from Washington, D.C., and onto State Houses and City Halls throughout our land. read more »