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Andrea Tevlin, San Diego's budget analyst, too busy to talk
Fumber, as always, is wise and erudite. He's merely explaining that when I put my bloated barge of inane bullcrap on the San Diego river, it will float downstream only as far as Ocean Beach. From there, concerned residents will have to erect cranes to move my mountain of barf from the fouled shores onto shadowy Liberian registered freighters. Best, Fred "Humongous" Williams— December 22, 2008 11:02 a.m.
County Unemployment Rate 6.9 Percent in November, Up from 4.9 Percent a Year Ago
With consumers finally coming to their senses, saving and paying down debts, the malls are going to be emptying out. Watch for closures in early '09, accelerating all year, further driving retail unemployment. Only those who actually make things people need (not want) are in a safe position. Those in the middle, merely moving goods between parties without adding real value, are not well-suited for survival in this economy. The "fun" jobs San Diego has nurtured in tourism, retail, hospitality, entertainment, are the first to go in serious times. Frivolous spending is giving way to austerity, so massive subsidies for football and baseball ought to be on the city's chopping block to free up money for basic necessities.— December 19, 2008 10:55 a.m.
Wall Street's Goldman Sachs, Which Got $10 Billion Government Handout, Paid Only 1% in Taxes
The appointment of Shapiro to head the SEC is a big disappointment. This does not bode well...— December 19, 2008 10:44 a.m.
Ex-Madoff Trader, Now Running Cardiff Firm, Was Asked by Hedge Firms about Those Steady Returns
Would devoted atheists be likely to fall for such flim flams? Seems to me that the essential component is "faith", which we atheists famously lack. Then again, I keep hearing that "faith" is what makes our stock markets work so well...kinda unreliable stuff if you ask me. Rev. Dr. Fred 1st Church of Evangelical Atheism— December 19, 2008 10:41 a.m.
San DIego State to get rid of Louie's Pub?
Louie, when you took over the place from Brian (back when it was still called Monty's) you knew the reason he left was the endless crap he had to endure to run his business. You've had nothing but trouble from these jerk-wads from the beginning. Really, Louie, you should take your talents and experience somewhere you'll be appreciated and treated like a businessman who contributes to the community. As long as the child-minder mentality prevails at our universities you'll always be under their thumb, tolerated at best, but never welcome or appreciated.— December 19, 2008 8:23 a.m.
Andrea Tevlin, San Diego's budget analyst, too busy to talk
My guess is that inflation will be something like 10%...but that's for goods that the rest of the world buys/wants too. For immobile assets, buildings especially, there will be continuing deflation. Credit is not going to come back soon. Credit cards are next to fall into crisis. The money we're pumping into the system is paying off tertiary investors with power, not alleviating conditions for honest businesses. There'll be additional big retailer failures, and malls are going to be hit hardest. So you'll have lots of defaults on buildings, and no more leveraging future earnings to buy assets on credit. Simultaneously, savings and cash for necessities will be the priority of most consumers. This will last at least until 2010. The news is not yet dire enough. It's going to get hysterical. Be contrarian and listen to the buzz words thrown around by the popular media...and do the opposite. While there are still shills screaming that it's a great time to buy, it's not. That's why I'm not a gold bug. Too many people telling me to buy it now.— December 19, 2008 7:58 a.m.
Wall Street's Goldman Sachs, Which Got $10 Billion Government Handout, Paid Only 1% in Taxes
Couple your post with the news from the NYT: http://www.nytimes.com/2008/12/17/business/17mado… Then add the story about Aguirre's brother dismissal from the SEC: http://www.signonsandiego.com/news/business/20061… It's clear that the SEC, even long before Cox came in, was enabling rather than preventing fraud. The world's loss of confidence in our financial system looks entirely warranted.— December 17, 2008 8:49 a.m.
Federal Reserve Essentially Admits It Is Fighting Depression, Not Simply Recession. It Lowers Interest Rate Target to Lowest Level Ever
The race is on: Inflation vs. Deflation Since the Bush team is pushing for inflation, I'm betting deflation wins.— December 17, 2008 8:36 a.m.
New Website Preserves Documents from Aguirre, Gwinn Administrations
Katheryn Rhodes is a true friend of San Diego. Have a look at www.sdcityattorney.com I thank her for performing yet another public service by hosting these reports so that the past is not swept away.— December 16, 2008 7:18 a.m.
Hang in There, Baby
To: Dr. Major Ollie Cc: Special Agent Parrots, Gen. Holman, Col. Potter, Lt. Col. (Ret) Bauder, Sgt. Board From: Lt. Williams Subj: Status of Baboon Army 1. Per orders dated 15/12/08 signed Dr. Maj. Ollie, our unit (44th Baboon Brigade) has begun production of Genetically Altered Baboons (GAMs) which are programmed to do the bidding of Dr. Maj. Ollie. 2. As per Mil-Std 12321.454, Dr. Maj. Ollie's GAMs shall perform the following duties: a.) Fecal flinging b.) Blood stained teeth baring w/ derisive hooting c.) Pink butt exposure 3. Delivery of said GAMs shall be to the Reader HQ on India Street in Little Italy at 06:00 hours. Respectfully, Lt. Williams Supply Officer 44th Baboon Brigade— December 16, 2008 6:50 a.m.