RobbyB

The Great Recession Demographics

2009-03-04T19:26:32Z

The New York Times looks at the deomographics of "The Great Recession" and the three inputs on how the economy will be redistributed:

All of these trends will serve to increase inequality. Yet I still think the Great Recession will eventually end up compressing the rungs on the nation's economic ladder. Why? For the same three fundamental reasons that the Great Depression did.
The first is the stock market crash. Clearly, it has hurt wealthy and upper middle-class families, who own the bulk of stock, more than others. In addition, thousands of high-paying Wall Street jobs -- jobs that have helped the share of income flowing to the top 1 percent of earners soar in recent decades -- will disappear.

Hard as it may be to believe, the crash will also help a lot of young families. The stocks that they buy in coming years are likely to appreciate far more than they would have if the Dow were still above 14,000. The same is true of future house purchases for the one in three families still renting a home.

The second reason is government policy. The Obama administration plans to raise taxes on the affluent, cut them for everyone else (so long as the government can afford it, that is) and take other steps to reduce inequality. Franklin D. Roosevelt did something similar and it had a huge effect.

Of course, these two factors both boil down to redistribution. One group is benefiting at the expense of another. Yes, many of the people on the losing end of that shift have done quite well in recent years, far better than most Americans. Still, the shift isn't making the economic pie any bigger. It is simply being divided differently.

Which is why the third factor -- education -- is the most important of all. It can make the pie larger and divide it more evenly.

That was the legacy of the great surge in school enrollment during the Great Depression. Teenagers who once would have dropped out to do factory work instead stayed in high school, notes Claudia Goldin, an economist who recently wrote a history of education with Mr. Katz.

St. Lucia goes bananas

2007-02-27T00:43:27Z

Four years ago, Kris & I went to St. Lucia for our honeymoon. (Pics) While the vacation was splendid, we saw a poor nation with a struggling economy. One day we went on a guided mountain biking tour which included a tour of the island. We went through many banana and plantain fields, and it seemed like every other one was either broke or going under.

So just today, it was good news to see that a UK supermarket is buying St. Lucia's bananas in response to consumer demand to fair trade goods.

Oh to have some cash laying around

2007-01-09T19:29:27Z

If I were a day trader, oh how I would've loved to invest in Apple today. Apple ~~Computer~~, Inc. started the day at $86.48. As of this post, it's hovering around $92.00. An increase of roughly 7%.

All because they announced the iPhone. That's a sweet looking phone. They struck an exclusive deal with ~~Cingular~~ AT&T for service. Too bad I'm on Verizon. Maybe I can work the "I'm going to Cingular" angle to strike a deal.

MPAA & Your Home

2006-11-29T04:00:24Z

I wish this were an atricle from the Onion, but it's not:

"The MPAA defines a home theater as any home with a television larger than 29" with stereo sound and at least two comfortable chairs, couch, or futon. Anyone with a home theater would need to pay a $50 registration fee with the MPAA or face fines up to $500,000 per movie shown."
The MPAA went on, stating, "Just because you buy a DVD to watch at home doesn't give you the right to invite friends over to watch it too. That's a violation of copyright and denies us the revenue that would be generated from DVD sales to your friends. Ideally we expect each viewer to have their own copy of the DVD, but we realize that isn't always feasible. The registration fee is a fair compromise."

Sorry, I'm going to have to charge you to come to our house and watch a movie with us. But the good news is, we'll throw the popcorn in for free and let you drink beer in our house.

Update: Dan pointed out in the comments that the story is from a satire site much like, but not, The Onion. I guess I got duped. Oh well. It's pretty funny, I guess.

New Brew

2006-03-13T13:42:18Z

I missed the latest UDC approvals inlast week's paper. Aside from the proposed development, which sounds cool itself, there was a short paragraph near the end with some big news:

...the UDC approved several projections including the Great Dane Pub and Rstaurant in the Hilldale Shopping Center [and] the Granite City Brewpub and Restaurant in the West Towne Mall parking lot...

Boom

2005-12-24T18:58:14Z

We were shook at 12:20 to the sound of an explosion. We couldn't locate the direction of the source due to the tall buildings that surround our apartment. Within five minutes, sirens directed up to the Dane County Parking ramp, located two blocks west of our place. We followed them to the scene, along with some others wondering what happened. All concurred that there was an explosion, some relating stories of pictures shaking on walls. The emergency crews were not in a hurry, but diligent in their duties. The only rumor we heard as to the source was that a car exploded and a man staggered out of the ramp claiming that it was his.

Approximately one month ago, a pipe bomb was discovered at the same structure by a worker. It was diffused and police had no leads.

As we started to leave, so did the plethora of rescue vehicles. I took the above shot as we started to walk away.

Update 12/25: Turns out it was a bomb. The previous bomb scares were not bombs, just resembled bombs.

Pepper

2005-11-01T14:20:28Z

I've given myself two days to ponder Madison's annual Halloween bash over the weekend. I seem to support all the views except the Mayor's:

"What does it cost us, literally, as a city?" (He estimated that the weekend will cost Madison $350,000.) "Neither does it take into account the tremendous drain on his time, Police Chief Noble Wray's time and that of their assistants. The cost is one thing. The other thing, For what? What does all this money go for? It goes for a huge public drunk and I'm really concerned about the impact on young people."

The mayor wants to shut down the entire street, businesses and all for next year's Halloween. Businesses claim their best business over this weekend. The Mayor would, in effect, be canceling Christmas for these business owners. This is after the City enacted a stricter ventilation ordinance, prohibited weekend drink specials, and finally outlawed smoking in public buildings. I would have to believe that the Tavern League's collective heads would blow up.

The Capitol Times today summed up the collective thoughts of everyone: Chill Out Mr. Mayor. It basically says that for any other event, the cost to the City is worth the sold-out hotels, crowded streets, and 100,000 people from all over the world spreading the good word about Madison.

I'm thinking about printing that out and sending that to his office, just to make sure he gets the message. I would add the fact that a controlled party with gates, a private security company and a entrance fee would solve most of the Mayor's problems.

$350,000 or not, something should be done about the horse shit. I would not miss the putrid smell of the horse shit that covered the street under the lights. The mass stomped through the piles, dragging across the entire street, preventing any step hitting clean pavement. I purposely ran down State Street the next morning to see the aftermath. Kids were dazed, clutching their overnight and sleeping bags as they found breakfast and rides home. The street itself was still covered in a layer of horse shit. All the cracks were filled with it, and there was a faint hue of greenish-brown that glistened in the sun. It's great to know that will all wash into the lakes with the next rainfall. So, thanks for that, Mr. Mayor.

A Prairie Predicament

2003-07-31T01:57:40Z

Kristin's dad is in a bit of a predicament. As a developer, he constantly has to worry about preserving wetlands. Now, a section of virgin prairie, untouched by a plow since the begining of time, lies in the way of completing the development. The choice is between the prairie, virtually unheard of in Milwaukee County, and low-quality wetlands, which were rows and rows of crops just a few years prior.

I see a no-brainer decision. Why is there always someone that doesn't?

Our Fearful President

2003-07-30T21:28:20Z

I fail to understand what Mr. Bush is afraid of. Maybe it's my apathy towards religion as the end-all to life's instruction book. But nonetheless, the President wants marriage reserved for heterosexuals.

If this idea continues, it could quite possibly be a worse abuse of power than Clinton ever committed. It does nothing for the well being of our country, it actually harms it. It's like putting rocks in the hands of the playground bully biggots to throw and the kids that aren't the same as everyone else.

Sorry, but I will never understand this line of thinking.

Unbrand America

2003-06-13T21:47:59Z

Unbrand America has an interesting concept. They plan (with your friendly monetary support) to advertize their cause, protest publicly, and encourage you to place black dots across corporate ads in your home town. I have to say that I agree with what they're saying here. I tend to stray away from the extreme left organizations, like PETA or Greenpeace, but mostly PETA.

It's mainly because their pledge says alot.

]]> I definitely feel this way when watching sportscenter. It seems that every week they have a new, meaningless segment to get theirs and athletes' mugs on TV as much as possible. All courtesy of your favorite alcoholic beverage. That, and news about 13 year-olds signing million dollar endorsements really starts to get under my nerves.

It would be nice to see these around town and the country, but I doubt it will do much damage. Really, how many people have stopped eating meat because they see pictures like these?

(lifted from Adam)

Suspicious Package

2003-06-09T22:40:53Z

There's a "suspicious package" that allegedly is small, round, and has a clock on it with some ticking inside was found a block from work around 4:30PM today. The Dane County EOD and another official were on the scene. We saw a guy in a bomb suit (aka "the stay-puff dude") x-ray the package and disappear into a truck. But it didn't seem all that important as I was able to get within 50 feet of it.

Then I walked home. Maybe I will update more later.

Update: It was a kitchen timer.

Sammy says it aint So-sa

2003-06-04T23:49:47Z

Sammy Sosa got caught using a corked bat. Many know that; Sammy even admitted to it. His team was quick to rally around Sosa. Others aren't so supportive.

I find Sammy extremely believable. But...

]]> There's nothing about the guy to say otherwise. Word is, none of his 76 confiscated bats were corked. He has never done anything to make you think otherwise. He has never been aloof with the media, espicially during his 1998 home-run race, when the media placed extreme pressure on he and Mark McGwire.

Though, I don't understand why he even has a corked bat to begin with. That's where the suspicion sets in. Why even have one? Sammy says "to put on a show for the fans during practice." That's fine. But, throw that bat out after every practice. Give it to a fan. Sign it and auciton it for charity. I don't care, just don't keep it. Have a new one made for the next practice. That way, you'll never have to worry about this type of situation. But, Sammy, you're a smart guy, you're never even going to come close to a corked bat again. Right?

Rich Get Richer

2003-06-04T21:43:16Z

Warren Buffet speaks out the latest tax cuts:

Suppose this measure goes through and the directors of Berkshire Hathaway (which does not now pay a dividend) therefore decide to pay $1 billion in dividends next year. Owning 31 percent of Berkshire, I would receive $310 million in additional income, owe not another dime in federal tax, and see my tax rate plunge to 3 percent.

And our receptionist? She'd still be paying about 30 percent, which means she would be contributing about 10 times the proportion of her income that I would to such government pursuits as fighting terrorism, waging wars and supporting the elderly. Let me repeat the point: Her overall federal tax rate would be 10 times what my rate would be.

When you listen to tax-cut rhetoric, remember that giving one class of taxpayer a "break" requires -- now or down the line -- that an equivalent burden be imposed on other parties. In other words, if I get a break, someone else pays. Government can't deliver a free lunch to the country as a whole. It can, however, determine who pays for lunch. And last week the Senate handed the bill to the wrong party.

[via mediawhoresonline]