The weekly link roundup is a collection of links related to Newburgh, revitalization, urban planning and anything else that might inspire change or create dialogue. Photo by CV
- Strong opposition to proposed parking lot [THR]
- Editorial: Lower school taxes would help Newburgh [THR]
- City of Newburgh gets $200K to address ‘zombie’ homes [THR]
- City of Newburgh has highest unemployment in region [MHN]
- Rent Control solidifies Newburgh’s housing segregation [MHN]
- Expert: Newburgh nearing ‘renaissance,’ but issues remain [THR]
- Newburgh Youths Keeping Streets Clean This Summer [Spectrum]
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Is this opposition part of the group that clear cut trees on the hill for better river views knowing full well of Mr. Kaplan’s plans? I don’t recall too much opposition then. Nimby?
-The article still does not address the “why” behind the high cost for public education. Instead, it alludes that a local district’s budget should be added under the State’s bank roll. So increasing state taxes will curtail the population exodus how?
-$200k…”annnnnnd it’s gone.” So codes are equally assigned but enforcement is an “equitable” thing. Got it.
-Hudson Valley job growth was only .7% overall, the labor pool has been shifting to Sullivan County. Riddle me this…how is that Orange County has underestimated its sales tax revenue two years running despite a stagnant job market? Remember, Newburgh planned its current budget on an “anticipated” sales tax increase.
– A tight family nucleus circumvents many social and economic issues. Yet, the topic of parent absenteeism is seldom addressed in the “wealth disparity” narrative. Instead, the “experts” are suggesting more debt (see below)
-This is the same fed reserve chief who on Thursday alluded to 0% rates and more quantitative easing (for which the fed res later talked back, just testing the waters imo). The net effect…the $ devalued and “stawks” went up. Didn’t you feel wealthier Newburgh? So while the “experts” are discussing what’s good for the peeps and the media feeds them political divide and conquer antics non-stop, bipartisan efforts are quietly working to hook ’em on another $6 trillion in liabilities. Here’s the liabilty…
https://www.alec.org/press-release/unfunded-liabilities-in-state-pension-plans-significantly-threaten-taxpayers-in-nearly-every-state/. Here’s their solution…https://www.congress.gov/bill/116th-congress/house-bill/397/text. Oh yeah, the “nearly $4 trillion in our accounts” is part of gov debt on the fed reserve’s (private banks btw) balance sheet. Indeed, they did in fact begin to “disperse” it last year via quantitative tightening and the “markets” began to tank. Can’t have that. So they reversed course. Global debt is now $246 trillion. Diminishing returns, socialize the losses, privatize the gains. https://www.youtube.com/watch?v=pYdvxBxHX2U&list=RDRyfCTZB6Nrk&index=7
-As per the youths cleaning up after those lacking self-control…Thanks and work safe.
Fast forward. Not Funny. It’s been just eight months after I raised a flag to this comment… “We have nearly $4 trillion in our accounts, but unfortunately we’re not allowed to disperse that,” Williams joked. Now, his fellow “expert”…Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.
So far in this crisis, the Fed has:
-Cut interest rates to 0.15%.
-Launched over $billions in Quarantitative Easing (QE).
-Launched a $trillion+ repo program.
-Launched another $1 trillion repo program…. A Day
-Announced it will begin buying commercial paper (short-term corporate debt).
-Allowed primary dealers to start holding assets, including stocks, as collateral in exchange for short-term credit provided by the fed.
-Essentially begin holding municiipal debt, 0% loans to money market funds.
-Opened unlimited dollar-swap-lines to the world central banks.
What’s left? The Fed Reserve can ask Congress for the authority to buy investment-grade corporate debt,
(Troubled Asset Relief Program (TARP) and the Term Asset-Backed Securities Loan Facility (TALF))
…see the linked article. Why is this happening? I’ve cautioned well before the “virus” that something was “broke” in the financial system, most recently…”It amazes me that, after decades of government fiscal and monetary policy intervention, many seek to blame the current “wealth” disparities on a “free market”. Most relative example…the equivalent of $500 billion (again, we’re now at a $tril. a day) will be injected into the banking system by mid January via the Federal Reserve, the equivalent of a 35% annual inflation rate relative to the gdp. Does this not trickle down to the street? What do we hear from our “representatives”.”(https://newburghrestoration.com/blog/2019/12/06/rental-263-grand-street/)
In short, global institutions had a multi-trillion $ margin call and they need to sell assets to exchange for US $s, the global reserve currency, to cover. However, simultaneously, most assets are devaluing relative to an appreciating dollar. As such, there is a negative feed back loop requiring even more $s to cover.
This $ printing by the fed simply further paper overs the lack of real capital, pulling credit from a future that cannot support it. It’s the 2008 crisis gone exponential….speculative loans were under written, derivatives were created off those loans, cheap, easy $s enabled it. In order to maintain a “normal” debt based economy the economy needs to grow exponentially alongside the debt fueling it. It didn’t. That’s what we’re witnessing, it’s about credit locking up…bad loans are manageable otherwise. It’s not a “bailout” imo, it’s a takeover up until these “loans” are paid in full. Meanwhile, the U.S. we the people is the backer, “full faith and credit” and all that…. https://www.youtube.com/watch?v=Qz1EfYudVaI&list=RDDtUUjmsCPNw&index=2