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Moss Gropen
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Dorian Hargrove
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Ken Harrison
Patrick Henderson
Tam Hoang
Eve Kelly
Dryw Keltz
Eva Knott
Thomas Larson
Ken Leighton
Matthew Lickona
Mike Madriaga
Bill Manson
Scott Marks
Bob McPhail
Walter Mencken
Joseph O'Brien
Sheila Pell
Ian Pike
Matt Potter
H.G. Reza
Dave Rice
Elizabeth Salaam
Jay Allen Sanford
Julie Stalmer
DJ Stevens
Matthew Suárez
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shizzyfinn
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Be Skeptical of Today's Employment Figures
Personally I'm in favor of spending some taxpayer cash on public projects...now's the time - demand is down, and local tradespeople need the work. Would be nice to see the federal stimulus dollars (only 15% spent thus far) start hitting in the form of assistance with the City Hall, the Library, and some other investments. Would also be nice if the federal stimulus dollars could be used to hire temps at state agencies. I've got an acquaintance who waited for almost two hours on hold with Unemployment, and another who acted early but still could not get a DMV appointment on time to meet renewal deadlines. Why can't we get some federal money to hire local folks to shore up staffs at offices like these?
— September 7, 2009 9 p.m.
Be Skeptical of Today's Employment Figures
Inflation isn't showing up because of the extent of the Depression we are in, and the relatively meager amount of government stimulating going on. Most of the "trillions" tossed out by the Fed went to shore up balance sheets of too-big-to-fail institutions, keeping the institutions from going bust, but not otherwise stimulating the economy. In other words, all that bailout money went toward keeping things from getting worse, not helping things get better. This is a subtle but very important distinction. As for the $800 billion or so of actual federal stimulus money, hardly any of it has been spent yet - only about 15% - so of course there has been no real positive impact yet. But will there ever be? Even the whole 100% is a tiny amount of money compared to the size of our economy. For example, there was tons more stimulating going on when people were able to stimulate themselves by taking on huge loans against the value of their homes. That type of stimulating is gone and ain't coming back, which is one key contributor to the deflation we're mired in now. People just can't get cash like they used to. Keep in mind that it is not an ironclad rule that big boosts in money supply must lead to inflation. For example, over the last 15 to 20 years, Japan has responded to economic crisis by dramatically boosting money supply and government spending, much like we are doing now. Japan's moves have not resulted in any sizable inflation; in fact, Japan is suffering from deflation now, just like we are. As for the real estate market bottoming out, if you believe that, I've got a condo downtown I'd like to talk to you about...seriously though, prices may have come up a bit, but the key number of inventory of homes for sale is still bloated, something like 1/3 above normal nationwide, according to recent comment I read from S&P's David Blitzer. And he also mentioned that there is likely more "shadow inventory" waiting in the wings...that is, homes that owners want to put on the market but haven't because of how bad it is right now; if/when prices seem to be recovering, these homes will come on the market, keeping prices down. All in all, folks, it's going to get worse before it gets better. We are living through a massive step-down in standard of living for Americans unlike any seen since the first Depression; nobody knows how far it's going to go or how long it will last. Don't kid yourself by thinking there are definitive answers out there.
— September 5, 2009 12:41 p.m.
Be Skeptical of Today's Employment Figures
Here are some mind-boggling new statistics, hot off the press today, that show just how vigorously our economy really sucks. This is what our plutocracy gets us: LOS ANGELES (MarketWatch) -- If you want to feel even more depressed about Friday's unemployment report, get a load of this: the private sector didn't just lose jobs over the last month or the last year -- it's lost jobs over the last decade. Yes, the very segment of the economy that was supposed to thrive under the Bush administration ended up with a net loss of 223,000 jobs since August 1999, according to the latest figures from the Bureau of Labor Statistics. Meanwhile, the nation's population has grown by 33.5 million people. That's the worst job-creating performance by the private sector since, you guessed it, the Great Depression. On top of that, the government created 2.1 million jobs. Wait, you say -- isn't that a positive? Well, no, because it's the worst performance by the government over a 10-year period since the last major recession of the early 1990s...
— September 4, 2009 12:45 p.m.
Be Skeptical of Today's Employment Figures
I know anecdotes don't count for much in the face of real stats like the ADP data, but still wanted to mention the fact that, of the dozen or so people I know who have been laid off in the last year, not one of them has found a new job. Definitely supports the idea that headline unemployment stats are missing the real picture.
— September 4, 2009 9:55 a.m.
Bijan Learns to Surf
Right on, singleandawesome, I'm happy to hear you enjoyed it! Bijan got his lessons from the surf shop at 4881 Newport Ave...if you watch closely at the very beginning of the vid, you'll see the place. I believe the lesson, in which he was one of 3 students, cost Bijan $90 and included 3 hours of instruction in the shop and on the water.
— September 3, 2009 2:49 p.m.
Bijan Learns to Surf
SDaniels, thanks for the love! Indeed, Bijan is our first human subject. Now that the ice has been broken, I think we'll do our best to get more OB people in front of the camera going forward. And magicsfive, thanks for your shout, as well! Glad to hear you enjoyed this episode. Bijan and my Cousin Jen are actually back home in Berlin, but they seemed to have lots of fun out here, so I hope they'll be back before too long.
— August 27, 2009 9:20 a.m.
John Moores sinks Padres pay to number 29 of 30 teams
response to #17: True, Kevin Brown turned out to have peaked in 1998, and not signing him for 1999 on did look smart in hindsight. But I think the Padres held off on the contract because they were too cheap, not because they had some advance knowledge of where Brown was headed. Brown was incredible in 1998, and seemed like he had at least a few more strong years left, hence the big contract from the Dodgers. You say you enjoy watching this young team...how many games have you attended this season? 'Cause I've been to a few, and there sure weren't too many other people in the stands, enjoying with me. In fact, I managed to go to the lowest attended game in PetCo history, and then the game that broke that record and became the new lowest attended game in PetCo history. Die-hard fans might stick with the team when its roster is minor-league-caliber, but most fans prefer rooting for a team that has a chance of winning, so filling the stadium requires fielding a contender. Seems like Moores couldn't care less about that. Hopefully the new ownership will be more about baseball.
— August 27, 2009 9:07 a.m.
John Moores sinks Padres pay to number 29 of 30 teams
Remember how Moores traded for ace pitcher Kevin Brown in 1998, helping the Padres make the World Series in October of that year, with the ballpark happening to be on the ballot in November of that year? Come 1999, Brown was a free agent, but because Moores already had his ballpark in hand, he suddenly lost interest in signing Brown, who had a hefty price tag. And sure enough, the Padres went from 98 wins in 1998 to 74 in 1999. Since then, they haven't broke 89. Moores reminds me of David Dare, the dude profiled in recent Reader articles, who back in the 1880s took San Diegans for $200,000 and fled to Europe. Moores sure seems like a high-end bandit who played us San Diegans for dopes. refriedgringo points out that voters okayed Moores' Petco Park, but voters also okayed George W Bush. Bush got elected by playing to the greed of the rich with one hand and the fears and stupidity of non-rich Republicans with the other. Moores played on our affection for the Padres with one hand and our inability to see exactly how much he was getting in the deal on the other. You almost gotta give it to Moores for boldness and craftiness...from the Padres to Peregrine, he seems like he has an unusual gift for parting other people from hundreds of millions of dollars. Though maybe it's all falling apart...the wife bailing on him could be a signal that his run has ended and there's no more gold in them thar hills...she's the ultimate insider, and she's cashing out. Meanwhile, like David Dare, Moores has high-tailed it out of San Diego. Of course, Dare went to Europe, but Moores could only get as far as Texas. At least there's some justice there.
— August 26, 2009 10:34 p.m.
Flying Solo
Right on - paint the room red!
— August 26, 2009 4:18 p.m.
A Fireman in the Alley
Great bit of writing. Keep the tales from SingleLand coming. I'd imagine that single fellows the world over would dearly value this kind of thorough and clearly written inside perspective on the young single female brain. Funny and a little disturbing how your friends stopped what they were doing to Twitter about it, to the point where you have to whip out a book to kill time. I'm only 31, but that kind of thing - along with dudes who wear skin-tight pants - make me feel like a senior citizen who can't understand the kids these days. Somebody pass me the Centrum Silver...
— August 26, 2009 4:16 p.m.
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Eva Knott
Thomas Larson
Ken Leighton
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Bob McPhail
Walter Mencken
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Be Skeptical of Today's Employment Figures
Personally I'm in favor of spending some taxpayer cash on public projects...now's the time - demand is down, and local tradespeople need the work. Would be nice to see the federal stimulus dollars (only 15% spent thus far) start hitting in the form of assistance with the City Hall, the Library, and some other investments. Would also be nice if the federal stimulus dollars could be used to hire temps at state agencies. I've got an acquaintance who waited for almost two hours on hold with Unemployment, and another who acted early but still could not get a DMV appointment on time to meet renewal deadlines. Why can't we get some federal money to hire local folks to shore up staffs at offices like these?— September 7, 2009 9 p.m.
Be Skeptical of Today's Employment Figures
Inflation isn't showing up because of the extent of the Depression we are in, and the relatively meager amount of government stimulating going on. Most of the "trillions" tossed out by the Fed went to shore up balance sheets of too-big-to-fail institutions, keeping the institutions from going bust, but not otherwise stimulating the economy. In other words, all that bailout money went toward keeping things from getting worse, not helping things get better. This is a subtle but very important distinction. As for the $800 billion or so of actual federal stimulus money, hardly any of it has been spent yet - only about 15% - so of course there has been no real positive impact yet. But will there ever be? Even the whole 100% is a tiny amount of money compared to the size of our economy. For example, there was tons more stimulating going on when people were able to stimulate themselves by taking on huge loans against the value of their homes. That type of stimulating is gone and ain't coming back, which is one key contributor to the deflation we're mired in now. People just can't get cash like they used to. Keep in mind that it is not an ironclad rule that big boosts in money supply must lead to inflation. For example, over the last 15 to 20 years, Japan has responded to economic crisis by dramatically boosting money supply and government spending, much like we are doing now. Japan's moves have not resulted in any sizable inflation; in fact, Japan is suffering from deflation now, just like we are. As for the real estate market bottoming out, if you believe that, I've got a condo downtown I'd like to talk to you about...seriously though, prices may have come up a bit, but the key number of inventory of homes for sale is still bloated, something like 1/3 above normal nationwide, according to recent comment I read from S&P's David Blitzer. And he also mentioned that there is likely more "shadow inventory" waiting in the wings...that is, homes that owners want to put on the market but haven't because of how bad it is right now; if/when prices seem to be recovering, these homes will come on the market, keeping prices down. All in all, folks, it's going to get worse before it gets better. We are living through a massive step-down in standard of living for Americans unlike any seen since the first Depression; nobody knows how far it's going to go or how long it will last. Don't kid yourself by thinking there are definitive answers out there.— September 5, 2009 12:41 p.m.
Be Skeptical of Today's Employment Figures
Here are some mind-boggling new statistics, hot off the press today, that show just how vigorously our economy really sucks. This is what our plutocracy gets us: LOS ANGELES (MarketWatch) -- If you want to feel even more depressed about Friday's unemployment report, get a load of this: the private sector didn't just lose jobs over the last month or the last year -- it's lost jobs over the last decade. Yes, the very segment of the economy that was supposed to thrive under the Bush administration ended up with a net loss of 223,000 jobs since August 1999, according to the latest figures from the Bureau of Labor Statistics. Meanwhile, the nation's population has grown by 33.5 million people. That's the worst job-creating performance by the private sector since, you guessed it, the Great Depression. On top of that, the government created 2.1 million jobs. Wait, you say -- isn't that a positive? Well, no, because it's the worst performance by the government over a 10-year period since the last major recession of the early 1990s...— September 4, 2009 12:45 p.m.
Be Skeptical of Today's Employment Figures
I know anecdotes don't count for much in the face of real stats like the ADP data, but still wanted to mention the fact that, of the dozen or so people I know who have been laid off in the last year, not one of them has found a new job. Definitely supports the idea that headline unemployment stats are missing the real picture.— September 4, 2009 9:55 a.m.
Bijan Learns to Surf
Right on, singleandawesome, I'm happy to hear you enjoyed it! Bijan got his lessons from the surf shop at 4881 Newport Ave...if you watch closely at the very beginning of the vid, you'll see the place. I believe the lesson, in which he was one of 3 students, cost Bijan $90 and included 3 hours of instruction in the shop and on the water.— September 3, 2009 2:49 p.m.
Bijan Learns to Surf
SDaniels, thanks for the love! Indeed, Bijan is our first human subject. Now that the ice has been broken, I think we'll do our best to get more OB people in front of the camera going forward. And magicsfive, thanks for your shout, as well! Glad to hear you enjoyed this episode. Bijan and my Cousin Jen are actually back home in Berlin, but they seemed to have lots of fun out here, so I hope they'll be back before too long.— August 27, 2009 9:20 a.m.
John Moores sinks Padres pay to number 29 of 30 teams
response to #17: True, Kevin Brown turned out to have peaked in 1998, and not signing him for 1999 on did look smart in hindsight. But I think the Padres held off on the contract because they were too cheap, not because they had some advance knowledge of where Brown was headed. Brown was incredible in 1998, and seemed like he had at least a few more strong years left, hence the big contract from the Dodgers. You say you enjoy watching this young team...how many games have you attended this season? 'Cause I've been to a few, and there sure weren't too many other people in the stands, enjoying with me. In fact, I managed to go to the lowest attended game in PetCo history, and then the game that broke that record and became the new lowest attended game in PetCo history. Die-hard fans might stick with the team when its roster is minor-league-caliber, but most fans prefer rooting for a team that has a chance of winning, so filling the stadium requires fielding a contender. Seems like Moores couldn't care less about that. Hopefully the new ownership will be more about baseball.— August 27, 2009 9:07 a.m.
John Moores sinks Padres pay to number 29 of 30 teams
Remember how Moores traded for ace pitcher Kevin Brown in 1998, helping the Padres make the World Series in October of that year, with the ballpark happening to be on the ballot in November of that year? Come 1999, Brown was a free agent, but because Moores already had his ballpark in hand, he suddenly lost interest in signing Brown, who had a hefty price tag. And sure enough, the Padres went from 98 wins in 1998 to 74 in 1999. Since then, they haven't broke 89. Moores reminds me of David Dare, the dude profiled in recent Reader articles, who back in the 1880s took San Diegans for $200,000 and fled to Europe. Moores sure seems like a high-end bandit who played us San Diegans for dopes. refriedgringo points out that voters okayed Moores' Petco Park, but voters also okayed George W Bush. Bush got elected by playing to the greed of the rich with one hand and the fears and stupidity of non-rich Republicans with the other. Moores played on our affection for the Padres with one hand and our inability to see exactly how much he was getting in the deal on the other. You almost gotta give it to Moores for boldness and craftiness...from the Padres to Peregrine, he seems like he has an unusual gift for parting other people from hundreds of millions of dollars. Though maybe it's all falling apart...the wife bailing on him could be a signal that his run has ended and there's no more gold in them thar hills...she's the ultimate insider, and she's cashing out. Meanwhile, like David Dare, Moores has high-tailed it out of San Diego. Of course, Dare went to Europe, but Moores could only get as far as Texas. At least there's some justice there.— August 26, 2009 10:34 p.m.
Flying Solo
Right on - paint the room red!— August 26, 2009 4:18 p.m.
A Fireman in the Alley
Great bit of writing. Keep the tales from SingleLand coming. I'd imagine that single fellows the world over would dearly value this kind of thorough and clearly written inside perspective on the young single female brain. Funny and a little disturbing how your friends stopped what they were doing to Twitter about it, to the point where you have to whip out a book to kill time. I'm only 31, but that kind of thing - along with dudes who wear skin-tight pants - make me feel like a senior citizen who can't understand the kids these days. Somebody pass me the Centrum Silver...— August 26, 2009 4:16 p.m.