Forget Spain, Sequester Pain Falls Mainly on California

IMPACT OF SEQUESTER ON CALIFORNIA

By Chriss Street

  Over the weekend, the White House released a report detailing some of the programs and services in California that would be impacted beginning Friday, March 1st, by the White House Budget cuts necessary to meet sequestration requirements. 

The Administration has threatened that the cuts will result in a massive contraction of the national economy. The breakdown of the effects on California was politically structured as an emotional call for Republicans to commit Hari-kari by compromising the demands of their base for fiscal discipline. With sequester only amounting to 2% of spending, the cuts do seem to be as earth shattering as the media has predicted

Sequester is defined as the act of removing, separating, or seizing anything from the possession of its owner under process of law for the benefit of creditors or the state. The term “budget sequestration” was first used to describe as a section of Gramm-Rudman-Hollings Deficit Reduction Act of 1985 under President Ronal Reagan that set hard caps on spending. The sequestration was abandoned under President H.W. Bush and replaced by a required PAYGO under the Budget Enforcement Act of 1990 that lasted until 2002, when President G.W. Bush abandoned budget discipline.

California will suffer the following cuts according to the Obama Administration:

Teachers and Schools: California will lose approximately $87.6 million in funding for primary and secondary education, equivalent to the cost of 1,210 of the 310,000 teachers in the state. In addition, California will also lose approximately $62.9 million in funds for about 760 special education teachers, aides, and staff who help children with disabilities.

Work-Study Jobs: Approximately 9,600 fewer low income students in California would receive aid to help them finance the costs of college and around 3,690 will lose federal grants for work-study jobs that help them pay for college.

Head Start: Head Start and Early Head Start services would be eliminated for approximately 8,200 children in California.

Funding for Clean Air and Water: California would lose about $12.4 million in environmental funding for clean water and air quality. In addition, California may lose another $1.9 million in grants for fish and wildlife protection.

Military Readiness: Approximately 64,000 civilian Department of Defense employees in California would be furloughed, reducing gross pay by around $399.4 million. Army base operation funding would be cut by about $54 million. Air Force operation funding would decrease by about $15 million. Navy maintenance to repair of 5 ships in San Diego and aircraft depot maintenance in North Island could be delayed or canceled.

Funds for Law Enforcement and Public Safety: California will lose about $1.6 million in Justice Assistance Grants for law enforcement, prosecution and courts, crime prevention and education, corrections and community corrections, drug treatment and enforcement, and crime victim and witness initiatives.

Job-Search Assistance: California will lose about $3.3 million in funding for job search assistance, referral, and placement.

Child Care: Up to 2,000 children deemed disadvantaged and vulnerable could lose access to child care.

Vaccines for Children: In California around 15,810 fewer children will receive vaccines for diseases such as measles, mumps, rubella, tetanus, whooping cough, influenza, and Hepatitis B due to reduced funding for vaccinations of about $1.1 million.

Public Health: California will lose approximately $2.6 million in funds to help upgrade its ability to respond to public health threats including infectious diseases, natural disasters, and biological, chemical, nuclear, and radiological events. In addition, California will lose about $12.4 million in grants to help prevent and treat substance abuse. The California State Department of Health Services will lose about $2 million that would have paid for 49,300 HIV tests.

STOP Violence Against Women Program: California could lose up to $795,000 in funds that provide services to victims of domestic violence.

Nutrition Assistance for Seniors: California would lose approximately $5.4 million in funds that provide meals for seniors.

I do not want to understate that any cuts to a group of Californians receiving federal benefits will be painful. But in my recent report, California Admits Higher Taxes Kill Tax Collection, the Not-So-Golden-State is proving that raising taxes to pay for deficit-spending destroys economic growth and results in lower tax collection. Even with the sequester, the Congressional Budget Office projects that over his 8 years in office, President Obama will have engaged in $7.5 trillion in deficit-spending and the national debt will almost double. The burden this federal debt will be painful to all Californians.

CHRISS STREET & PAUL PRESTON
Present
“The American Exceptionalism Radio Talk Show”
Streaming Live Monday through Friday at 7-10 PM
Click here to listen: http://www.ustream.tv/channel/american-eceptionalism-news
Stay Connected on our Websites: www.aexnn.com and www.agenda21radio.com

FED ADMITS TO POTENTIAL MULTI-BILLION LOSS

By Chriss Street

 Last week, CalWatchDog, Tea Party blogs and other publications ran my warning that a rise in a combination of inflation and unemployment, known as the Misery Index, could “distort financial markets” and 

result in “significant capital losses” on their huge bond investments of the U.S. Federal Reserve.  Last night, Morgan Stanley heightened those concerns by stating that if the economy contracted and inflation continued to rise, the United States government could suffer a loss of $547 billion on the Fed’s massive portfolio. In his semi-annual testimony to Congress on monetary policy and the economy, Federal Reserve Chairman Ben Bernanke was forced

to try to reassure financial market that there was only a very low possibility of an imminent financial crisis.

 Chairman Bernanke calmly stated: “Where the problem still remains unaddressed is in the longer term. And so it doesn’t quite match to be doing tough policies today when the real problem is a somewhat longer-term problem.”

Bernanke went to great lengths to make the case that the central bank money-printing and bond speculation was prudent stimulus to reinvigorate the American economy.  He specifically pointed out that Fed’s easy-money policies have held down interest rates and helped a revival housing market and car sales.  The Chairman also pointed out a weak job market was more responsible than the Fed for keeping inflation low.

But as I had pointed out, the low inflation rate reported in of the Consumer Price Index has been dramatically understated because 41% of the index is real estate returns, which have been down over the last four years.   But according to the McKinsey Global Institute Commodity Price Index; the prices for food, raw material, metals and energy prices rose over the last four years to historic highs.  During the same period, the price of a gallon of gas rose by 132% and recently the costs of food rose by 8.1%.  Now that the Fed money-pumping is providing below market interest rate financing, real estate inflation is jumping and the CPI will soon spike higher.

President Obama has been desperate over the last two weeks to try to avoid the 2% federal spending cuts that are part of the financial sequester.  But even after this modest reduction is implemented, the Congressional Budget Office projects over 8 years, his Administration will have engaged in $7.5 trillion in deficit-spending  and the national debt will almost double.  Bernanke tried to help the President’s cause by uttering the usual concerns that suffering by millions of long-term unemployed was good reason to not make cuts until the economy recovered.

Chairman Bernanke was given good marks for his Congressional performance today.  The stock market rebounded and Diane Swonk, chief economist at Mesirow Financial in Chicago, said of Bernanke’s testimony, “Those worried that the Fed may end large-scale asset purchases prematurely should be reassured.”  But as I remember, those nice folks from Chicago were also very positive in November 2008 with the election of Barack Obama in November 2008.  But wasn’t that right before the last financial crisis, where the stock market lost 50% of value and unemployment sky-rocketed?

 CHRISS STREET & PAUL PRESTON

Present
“The American Exceptionalism Radio Talk Show”
Streaming Live Monday through Friday at 7-10 PM
Click here to listen:  http://www.ustream.tv/channel/american-eceptionalism-news

Connect:  www.aexnn.com and www.agenda21radio.com

 

The Crooks Who Stole Your House….

The Inside Story of the Sub-prime Mortgage Crises…

 

 

 

By William Kirkendale

Former Loan Officer and

Author of

“The FICO Hoax”…

(Secrets of how Phony FICO Scores fueled the Mortgage Crises)

www.ficofraud.com

 

 

 

 

 

 

THE SUB-PRIME MORTGAGE CRISES

 

HOW CROOKED GREEDY BANKERS, CORRUPT BRIBE TAKING POLITICIANS AND  NON-EXISTENT BANK REGULATORS  WERE ALL INVOLVED IN STEALING YOUR HOUSE…

And how much did you say it cost all of us in dollars and cents? What’s that….

$22 TRILLION DOLLARS

 

Now as everybody in America knows from 2008 thru 2013 the American people were being cheated and ripped off big time. That’s right Big Time. For millions of American’s they had their homes and life savings stolen from them by very evil and criminal people. These were the people I just mentioned above… Each and every one of these crooks had a hand in stealing your house. This book will go into how they all did that and why.

SO WHO’S AT FAULT

 

If there is one thing about this TRILLION DOLLAR sub-prime mortgage scam that you can take to the bank it’s this….. 100% of the blame for this  crises has NOT been directed at the guilty parties. …..No it’s been directed instead at the Nation’s mortgage loan officers only. . AND WHY IS THAT DO YOU SUPPOSE?  It’s really quite simple. First off It’s because all the Nation’s loan officers knew too much about all the criminality that went on as they were the ones on the front line…

 

*They knew all about the Credit score FICO scams the banks were using to jack up their interest rates and throw people into subprime loans.

*They knew all about the phony Appraisals the banks were using to inflate property values.

*They knew all about all the bribes politicians were taking from bank executives to keep their mouths shut about all the crimes they were engaged in.

*They knew all about all the No doc “Liar Loans” that the banks were allowing so they could speed through their mortgages as fast as they could to sell them to Wall Street investors..

*They knew that no one was regulating the mortgage business or the bankers at the time so they were all allowed to get away with murder…..and stealing your house.

 

 

Now how do I know all this? I know it because I was a loan officer during this time. I saw what went on and I watched as homeowners were getting ripped off left and right by these banking crooks. As a loan officer all I did was push papers. I didn’t do any underwriting. I didn’t do any loan approving. I didn’t use crooked appraisers like the banks did to inflate property values so their loans would fit the criteria. I didn’t engage in any “Liar Loan” scams. All of my clients had to prove their income and job status to me or else I wouldn’t turn in their loan applications.  I didn’t takes bribes from people to keep my mouth shut about all the improper activities I saw going on. I spoke up all the time about what I saw but no one listened.

 

I operated a clean honest loan business and because I did I was very successful as a loan officer. I had hundreds of clients who would swear by me and what I did for them to get them a good honest mortgage loan. Almost every loan I processed was an “A” paper loan for people who had good credit and an established income and job. I never went near any subprime Loans because I knew they were a rip-off on the homeowner. I also fought a long and hard battle against using what I believed were phony FICO scores to evaluate a person’s credit. To me they were nothing but a voodoo fraud operation for money.

 

 

So how did all these bankers and bank regulator crooks handle all the loan officers they were afraid would spill the beans on them and all the criminal activities they were involved in? This is what they did….They all got together with their crooked bribe taking politician friends Barney Frank and Christopher Dodd and got them to pass a law that would only point the finger of blame for this crises at the loan officers and no one else.

 

This became known as The Dodd-Frank Act which under its SAFE law provisions created an organized vicious witch hunt and smear campaign against all the Nation’s loan officers…..with the sole purpose of driving them out of the business never to be heard from again…They did this by passing the above mentioned SAFE act which then put into place what was called the NMLS program. And what was this NMLS program?

 

It was basically the foundation of a nationwide witch hunt and national registry of all the loan officer crooks in America. If you didn’t have an NMLS designation on your real estate license you were not allowed to be in the mortgage business at all. ….and if that wasn’t bad enough all these banker/regulator crooks made you take an expensive rigged and phony test if you ever wanted to be in the mortgage business again. No you were being branded as a criminal for life. This NMLS registry was like the sex offender registry the government keeps on child molesters. The only difference was this was a registry of loan officer mortgage molesters.

 

In this NMLS program nowhere is there any blame directed towards Barney Frank and Chris Dodd for taking bribes to shut up AND KEEP QUIET about all the Angelo Mozillo Countrywide VIP Loan fraud that was going on. Also Nowhere is there any blame placed upon all the bank regulators who TURNED A BLIND EYE TO ALL THE CORRUPTION THAT WAS GOING ON and did absolutely nothing to stop it…And nowhere is there any blame being placed on all the greedy bankers like Angelo Mozillo  who encouraged, participated in and profited from the crises.

 

No my friends this is a whitewash if I ever saw one. Blame everybody else who had only a minor role in the scam and give all the big shot  perpetrators and criminals who caused and profited off the scam a get out of jail free card. Well over my dead body will I allow that to happen. I AM AFTER ALL ONE OF THOSE LOAN OFFICERS ON THEIR WITCH HUNT HIT LIST….And I know enough about what went on to send all these criminals to jail for a long long time..

China is taking the punch bowl away when the party is starting..

IS CHINA’S ECONOMY GETTING SNAKE BIT

By Chriss Street

China’s central bank withdrew an all-time weekly record high of $145 billion from their banking system this week.  China often increases liquidity in early February prior to their Chinese New Year and then decreases liquidity after the holiday.  But the extent of the reduction dwarfed the $106 billion added this New Year.  T

he People’s Bank of China has now drained a net $87 billion from the banking system since December 31st, compared with a net injection of $230 billion last year.  Economists refer to this activity as “Taking the punch bowl away just when the party is getting good.”  What this generally indicates is the Chinese government is being forced to strangle new lending because inflation is exploding.  Given that the United States is on the verge of a recession, it appears this Year of the Snake may be about to bite China’s economy

Outgoing Chinese Premier Wen Jiabao called for local governments to impose restrictions to “decisively” curb housing market speculation.  He described house appreciation as “excessively fast” and ordered municipalities to publish annual price control targets.  Concern of the Chinese federal government include:

·                     Local governments are turning to      property sales to boost their revenue.       As the majority land owner, local governments are incentivized to      sell property at inflated prices to developers financed by state owned      banks.

·                     China’s total credit is now a      speculative 190% of the entire economy.

·                     Andy Xie of      Morgan Stanley points out that at the end of 2012, there were 95.4 billion      square feet of property under construction, half residential and the rest      office/commercial.  This equates to 1.5      times the entire China GDP.

Mainstream economists assume the Chinese government’s actions are “prudent” to continue their high economic growth.  But China’s economic statistics are not credible.  The nation reported that January exports were up 25% over last year.  But China’s biggest trading partner, Europe, is in shambles.  If China had huge growth, it did not come from exports.

What did happen in China is total “social lending”, the broadest measure of economic liquidity, increased in January to $399 billion from $260 billion in December.  I believe the “recovery” is being driven by local government pushing real estate speculation.

China appears to be repeating the same strategy they followed during the 2008 to 2010 financial crisis.  The country implemented a spectacular $640 billion stimulus package to ward off an economic slump when their export markets in the developed economies imploded.  With China’s deficit-spending stimulus focused on massive infrastructure and property-related capital investments, the economy stabilized, but real estate prices exploded.  When property prices leveled off in 2011, bad debts at banks skyrocketed.

Premier Wen Jiabao has stated funding this activity had been a mistake, but China’s leadership allowed it to happen again after the economy slowed in the 2^nd quarter of last year.  The central government officially unveiled another $160 billion infrastructure package in September, but unofficially local governments launched a similar package estimated to total up to $2.1 trillion.  Total credit for January showed a sharp increase from the first half of last year.  For 2012, credit financing grew 20%, trust loans were up 80%, foreign exchange loans up 27% and other financing increased by 45%.

The unbalanced Chinese export-driven economy was fragile before 2012.  Now according to hedge fund mega-short expert, Jim Chanos: “They’re on a treadmill to hell.  Either they try to keep blowing the bubble to maintain economic growth or they risk an immediate economic crash.”

China may have a savings rate of 53% of GDP, and $3.3 trillion in foreign exchange reserves, but the majority of these reserves are tied up in U.S. government bonds.  If China sells 10% of these bonds to bail out their own economy, U.S. interest rates will spike and the U.S. economy would tank.  Such an event would cause a worldwide recession and hammer China’s exports.

China’s export-reliant economy is based on expanding worldwide trade.  In Chinese “symbology”, snakes are regarded as intelligent, but with a tendency to be somewhat unscrupulous.  With the United States already on the verge recession, China’s economy may get bit in the Year of the Snake.

CHRISS STREET & PAUL PRESTON
Present
“The American Exceptionalism Radio Talk Show”
Streaming Live Monday through Friday at 7-10 PM
Click here to listen:  http://www.ustream.tv/channel/american-eceptionalism-news

4Q2012 Ladera Ranch, Coto de Caza Traffic Accident Report - Fourth Verse, same as the Third.

Posted By CotoBlogzz 

Coto de Caza, CA - The California Highway Patrol  (CHP) traffic accident report for the fourth quarter of 2012 ending December 31, 2012 shows the quarterly accident rate inching up to an all high time in Coto de Caza, comparable to the rate when the community experienced its first traffic fatalities, as a result of the CZ Master Associations board of directors reckless decision to fire the CHP without a suitable alternative.  

                       

           

Coto de Caza Traffic Accident Rate:  Source:  CHP SJC

In this case, mostly due to the limited time the CHP patrols the community. The accident report for the fourth quarter of 2012 includes one DUI 5 people injured.

           

On the other hand, the accident report for Ladera Ranch keeps inching down, mostly as a result of the community’s focus on public safety, the killing earlier this week not withstanding 

.

           

Ladera Ranch Traffic Accident Rate - Source:  CHP SJC

The Ladera Ranch traffic accident report for 4Q20122 include sixteen damage incidents, three injured and no DUI’s reported

      

           

Historical Perspective - as published in the March 2006 issue of the Cotobuzz Journal: 

It also proves that the “Coto traffic accidents” are preventable incidents – and not the same as the accidents one finds in highway 405 on the way to LAX as a board supporter incredibly argued. It also refutes the notion that Coto did not have a traffic control problem as the same person told the LA Times.  "

"The figures also clearly indicate out-of-control increase in accident rates when the board fired the CHP and a mirror image decrease in accident rates when residents forced the board to bring back the CHP

Coto's Public Safety Ticking BombRhianna Woolsey died (December 7, 2005) in the first traffic fatality in Coto de Caza in the last ten years, followed three months later by a traffic accident that claime Mr  Morteza Manian’s life. RELATED STORIES Coto de Caza and Ladera Ranch 1Q2011 Public Safety Review Coto de Caza, CA –By its own words and actions, it is fair to argue that Coto de Caza’s local governance is not only apathetic when it comes to public safety, but its own actions actually result increase the risk to residents. Worse, seems like adults in Coto de Caza have similar views as the local governance. Our research over close to ten years indicate that whether a community is safe or not, is primarily a function of residents and local governance, not law enforcement. Consider that when a city in Orange County is deemed the safest city, what about the other 11 cities or the unincorporated areas? What about Coto de Caza with the highest crime rate in history in early 2010. After all, only common denominator is that the OCSD is the law enforcement agency. What does the OCSD do differently in the safest city, as opposed to the least safe city under its watch? Coto de Caza's Traffic Incident Rate at Critical Danger Levels Coto de Caza, CA - While the Coto de Caza's total population has been shrinking for the last ten years, including placement of 17 property liens for the month of January 2011 out of roughly 3500 homes, the policies pursued by the CZ Master association board of directors, the local governance, have consistently increased traffic with a reduction in CHP patrol hours, with predictable results. Consider that for close to a decade, we have consistently shown conclusive evidence that there is a direct correlation between the extent of the CHP traffic enforcement efforts and the number of traffic accidents in the community. Coto Continues on Dangerous Course of Traffic Incidents While Incident Rate Lower, Still at Critical Levels Coto de Caza, CA - The good news for Coto de Caza residents is that the quarter-to-quarter accident rate for the quarter ending March 31, 2011 is significantly down from the previous quarter. The bad news is that it is still at the same levels as when the community experienced its two traffic fatalities within a three month period between December 2005 and March 2006 Coto de Caza Fires the CHP - Again! Coto de Caza, CA - The CotoBuzz Journal has documented the one-sided hate-hate relationship between the CZ Master Association board of directors and law enforcement agencies in general, and the California Highway Patrol (CHP) specifically (CHP). In an open board meeting for example, a board member called the Orange County Sheriff's Department (OCSD) extortionists! Despite the public abuse the CHP has received from the Coto de Caza board of directors ever since the board was coerced into bringing the CHP back for pro-active traffic patrol, figures indicate that the CHP has been doing its job: - The Chart below was published Sept. 30, 2006. Rhianna Six Month’s Anniversary Mr. Manian’s Three Month’s Anniversary It has been six months since Rhianna Woolsey died (December 7, 2005) in the first traffic fatality in Coto de Caza in the last ten years. Sadly, this week also marks the Three Month Anniversary of Mr. Morteza Manian’s death, as he was struck by a... Bicycle Safety Within Coto de Caza During the June 8, 2006 Coto de Caza board meeting Yo Orduno described a public safety situation in the Summerfield district including a warning about an increase of rush hour cyclists in and around Vista Del Verde, some even riding pairwise making the... Coto de Caza - New Election Laws - Call for Candidates Dear CZ Board Members: In July, 2006 the new state law governing HOA elections will take effect. That means that shortly thereafter, the Board should send out information concerning the mechanisms the Board intends to implement in 2007 to comply with... First 2006-2007 Coto de Caza Board of Directors Meeting, Standing Room Only!  …and Coto de Caza’s Tar Baby The first 2006-2007 Coto de Caza Board of Directors Meeting, can best be described as standing-room only, with the local media well represented.  A political junkie would have felt right at home, as you could sense the excitement, the energy and the... COTOBUZZ RELEASES CRIME & VANDALISM MANAGEMENT TOOL In its continued commitment to public safety, on June 1, 2006, CotoBuzz unveiled a Crime and Vandalism Management tool (see below for first installment), containing key metrics and a side-by-side comparison between Coto de Caza and Ladera Ranch.... COTO DE CAZA- SecurityAreNotUs In today's Canyon Life, there was an article about Lyle Schlieder's leaving the BOD. Lyle was quoted as follows: "There are no patrols anymore. I am not sure if what we are dealing with is just a pretty face at the gate that we pay a lot of money for." So... BREAKING NEWS: COTO IS SAFER THAN OTHER COMMUNITIES: BREAKING NEWS: COTO IS SAFER THAN OTHER COMMUNITIES: The April 21 issue of the CanyonLife reports that “Fred Lisanti of Pacific Oak Security, security consultants to the ( Coto de Caza) board, presented a report indicating the official crime... CotoBuzz March 2006 Newsletter First Traffic Accident Lawsuit Filed: Coto de Caza Public Safety Bandwagon is filling up Fast- Hop In!: . We just received the February 2006 CHP report – as previously reported in the Coto discussion forum, we had our first traffic accident in... Lawless, Clueless Coto de Caza Last night, December 12, 2006, the CZ homeowner’s association board of directors held their regularly scheduled open session meeting. Present were representatives from the LA Times and Freedom Communications. Lawless, Values-less, Spiritual-less Coto de Caza When we first moved to Coto de Caza over 12 years ago, we really thought there was No Place Like Coto. Shortly thereafter CNN/Money discovered Coto as well and included it in their list of One of the Best Places to Live/Best Places to Retire. When the....

Misery Loves Company - Lots of Company!

MISERY INDEX IS ABOUT TO SOAR

By Chriss Street

With the 2008 “Credit Crisis” bursting the global housing bubble; the United States led and the world followed with the massive amounts of government spending and money-printing stimulus promoted by “Keynesian” economists.  To stem the crashes in prices on stock and commodity exchanges and a run on European banks; the U.S. Federal Reserve enlisted the world’s central banks in a coordinated drenching of the earth in vast amounts of freshly printed cash.  But as the crisis waned and the “Great Recession” began, governments and their central banks continued to pour wave after wave of Keynesian deficit spending and money printing

.  With economic activity about to slow and austerity shrinking excess government spending; the citizens of the world are about to be rewarded for their trust in government with a steep recession coupled with high levels of inflation.  Economists refer to this witch’s brew of escalating misery as stagflation.

The U.S. Federal Reserve, European Central Bank, Bank of Japan, and other central banks around the world expanded money supplies by purchasing $2.5 trillion of sovereign debt and distressed banking assets to stem the risk of a deflationary spiral; where lower wages and higher unemployment lead to a self-reinforcing decline in global consumption.  American and European The Congressional election sweep of 2008 launched a new political consensus that catapulted 2009 to 2011 at the largest percentage increase since the Great Depression.  What started out as a Keynesian an emergency economic rescue; soon morphed into a permanent higher level of government spending and central bank money printing.  But in a contradiction to the theory of Keynesian economics; this bold government intervention failed to generate  economic growth and instead propelled global food and basic commodityinflation.

Bazaar levels of indebtedness and unwillingness to curtail spending has recently sparked a new European sovereign debt and bank insolvency crisis focusing on Portugal, Italy, Greece, and Spain.  Germany, the only country to not implement Keynesian stimulus, is being asked as lender-of last-resort to bail-out these PIGS.  The Teutonic tough-love demanded by the Germans to rescue Greece is slashing public jobs equivalent to 20% of national employment and a decade- long economic squeeze on the consumer and corporate sectors that will shrivel the nation’s standard-of-living by 1/3.

U.S. counter-Keynesian-revolutionaries were swept into political power in January of 2011 on a mandate to banish deficit spending.  The recent debt-ceiling compromise will slash $71 billion of spending this fiscal year.  Add in the expiration of incentives, such as the 100% depreciation of capital purchases in 2011, plus the impact of continued fiscal tightening and America’s GDP will wither next year by 2%, or $300 billion.  Getting government out of the economy will lead to big private sector growth in the future; but the transitional slowdown and spending austerity will lead to a nasty recession in the first half of 2012.

China, who benefited enormously by pegging their exchange rate to the U.S. dollar has continued to stimulate their export economy by subsidizing state-owned-enterprises commodity purchases and directing banks to loan at 2% borrowing costs.  The result has been strong employment and flooding the world with products sold under cost.  The dark side is the 15% inflation for consumer food and rent currently ravaging workers, plus increasingly insolvent banks. As anger builds, China will be forced to reduce the subsidies and allow export prices to rise.  To the world, this will generate a burst of inflation.

Governments have had great fun spending lots of borrowed money on their friends and allies. When recession began to cure over-leveraged consumers from speculating in houses; government used the pain of households de-leveraging as a green light to maximize spending. After three years of record expenditures, governments have become sub-prime and are now being forced to de-leverage.  But the tsunami of government money is still sloshing around in the world economies and will continue to drive inflation of basic commodity prices higher.

This blend of government austerity with expiring tax incentives will soon pull the U.S. economy down and the world’s economy will follow.  With our pre-recession Misery Index of3.9% inflation  and 9% unemployment already at the highest reading since Jimmy Carter in the 1970s; stirring in a severe recession will drive unemployment higher and make this witch’s brew boil.

Chriss Street’s latest book: “The Third Way” is now available on www.amazon.com.  

Yorgos Kouritas conducts annual Festival Finale includes Lincolnshire Posy by Grainger and Night on Bald Mountain by Mussorgsky.

Posted By CotoBlogzz

Rancho Santa Margarita, California.  On Friday, March 15th at 8 pm, the Saddleback College Wind Ensemble closes its annual festival with an evening performance featuring some of the most well-known favorites such as Lincolnshire Posy by Grainger and Night on Bald Mountain by Mussorgsky.

On Saturday, March 16^th at 8 pm, the Saddleback College Symphony Orchestra presents the winners of the 2013 Music Teachers Association of California Concerto Competition. Featured performers are First Place Concerto Competition winner pianist Jake Clayton, second place winner Lauren Graham, vocalist, and third place winner Kenichi Kiyama, violinist.  The program includes Mozart No. 23 in A major (K.488) – 3^rd movement, Bernstein’s Glitter and Be Gay and Lalo’s Symphonie Espagnole – 1^st movement and Rimsky-Korsakov’s Scheherazade, which also has a violin solo.

Mr. Kouritas has an extensive background in conducting which includes being the Assistant Conductor of the Boise Philharmonic and Director of the Boise Philharmonic Youth Orchestra. On February 8^th he conducted the Boise Philharmonic, featuring the music of the leading American composer Ben Model, accompanying silent movies. The orchestra played live during the films with the guidance of Mr. Kouritas as conductor. In December, he was chosen among 70 applicants for a prestigious conducting workshop with the Virginia Symphony that was taught by internationally-known conductors JoAnn Falletta and Jorge Mester.

Both concerts take place in the beautiful McKinney Theatre. Tickets are $15 general; $10 students/seniors.  Call the ticket office at 949-582-4656, Wednesday through Saturday, noon to 4 pm or order your tickets online at www.saddleback.edu/arts.

Saddleback College is located at 28000 Marguerite Pkwy in Mission Viejo, just east of Interstate 5 at the Avery Parkway exit.  Parking is available in Lot 12.  Take Avery Parkway to Marguerite Parkway turn left to the third traffic light, which is Saddleback’s Marguerite entrance. Turn right into the campus and take the second left to “Theatre Circle,” turning right into Lot 12.

Located in Mission Viejo, Saddleback College provides quality higher education and training to the greater south Orange County community.  Having served more than 500,000 students since 1968, Saddleback College offers over 300 degree and certificate programs to help students reach their personal, career, and educational goals.  For more information, please visitwww.saddleback.edu and for Fine Arts information, please visit www.saddleback.edu/arts.  

Back to the Past with 1940s Swing Music at Saddleback College

Posted by CotoBlogzz

Rancho Sant aMargarita, CA – If you love to dance to swing music, you’re in for a treat. The Angels for the Arts at Saddleback College is scheduled to present the Big Band Swing Thing on Saturday, March 9^th at 7:00 p.m at the Norman P. Murray Center, 24932 Veterans Way, Mission Viejo.

In addition, there will be two  entertaining dance performances by the Saddleback College dance students, choreographed by Dance Department faculty Marji Himes and Lacey Yell. The themes this year involve 1940s women’s baseball and Rosie the Riveter. The festivities will also include beer, wine, appetizers, taxi dancers, opportunity drawings and other surprises of the era. Also don’t forget to wear your 40’s style attire.

This affordable event is only $25 each or you can pal up with your favorite dance partner or friend and purchase two tickets for $40. If you don’t have a dance partner, $1 per dance taxi dancers will be available. Proceeds go towards scholarships for Saddleback students in the Arts.

Tickets can be purchased by calling (949) 582-4656 (noon-4 Wed.-Sat) or online at www.saddleback.edu/arts.

The Angels for the Arts at Saddleback College is a fundraising and support organization for the Performing and Visual Arts at Saddleback College.  Angel members donate their time and talent t6o raise funds and assist with a variety of arts events on the campus.  The group is led by a volunteer advisory board of directors.  Angel members believe in the importance of offering a full spectrum of arts to the community, with the college as the focal point.  These events bring together Orange County residents from all walks of life for the purpose of enlightenment, entertainment and inspiration.  The Angels for the Arts provide support for scholarships for students in the visual and performing arts, Saddleback Civic Light Opera, MainStage Kids Children’s summer program, master classes with professional artists, hospitality for guest artist performers and crew, enhancement for arts patrons such as the tram and an annual fundraiser.

Located in Mission Viejo, Saddleback College provides quality higher education and training to the greater south Orange County community.  Having served more than 500,000 students since 1968, Saddleback College offers over 300 degree and certificate programs to help students reach their personal, career, and educational goals.  For more information, please visitwww.saddleback.edu and for Fine Arts information, please visit www.saddleback.edu/arts.