“He makes a bee line to me right after the talk, in front of everybody,” West says. “He just lets me have it. He says, ‘You ought to be ashamed of yourself, saying I’m not a progressive. Is that the best you can do? Who do you think you are?’ I smiled. I shook his hand. And a sister hollered in the back, ‘You can’t talk to professor West. That’s Dr. Cornel West. Who do you think you are?’
Tag: banks
Politicians Won’t Stay Bought | Peter Mehit
In a casual conversation someone quipped, “You know the real problem with politicians…they just won’t stay bought.” There was muted laughter. It’s too true to be funny.
Politician. The word has precise sound to it, as if your mayor had been called by God to run. As if people go into public service like it’s a ministry. For the good of all with pure, honorable intentions. But the job is nothing like that. It’s a lot of arm twisting and ear bending by people all wanting you to do conflicting things. And in
the end, nobody’s really happy with you. As Parker and Stone pointed out, the public sees you either as a ‘Giant Douche’ or a ‘Turd Sandwich’. Why would anyone want a such a shitty job?
Power.
Continue reading “Politicians Won’t Stay Bought | Peter Mehit”
Weekly Economic Update | LADEC
THIS WEEK’S HEADLINES:
- SoCal Home Sales and Prices Declined in April
- Consumer Sentiment Index
- U.S. Trade Deficit Widens in March
- California Exports Continue to Shine
- March California Imports
- April Port Figures – Seventeen Consecutive Months of Growth
- Events of Interest
- May 18, 2011: International Trade Outlook
- June 7, 2011: Japan’s Positive Impact on the Southern California Economy
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
- The Kyser Center Welcomes John Blank, Deputy Chief Economist
- April U.S. Labor Market Report
- The Effect of Oil Prices on International Trade
- California’s Budget Position in April
- Consumer Credit: Credit Cards Making a Comeback?
- Auto Sales Up Again in March
- Events of Interest
- May 18, 2011: International Trade Outlook
Sony breach could cost card lenders $300 million | Reuters
Each customer request to replace a credit card would cost lenders about $3 to $5 per card, several analysts told Reuters on Wednesday and Thursday. Those costs would include the new piece of plastic itself, postage, and various customer service costs.
Hackers earlier in April broke into Sony’s PlayStation Network, stealing names, addresses and possibly credit card details from 77 million users. Sony shut down the network on April 19 but waited about a week to disclose that the system had been hacked and users’ data could have been stolen.
How Credit Card Data Is Stolen and Sold | NYTimes.com
Karma Matters | Peter Mehit
Karma is the concept that what you do is done to you. You do dirt, you get dirt. You do good, good comes to you. The problem is that a lot of people want to specify their karmic reward. It doesn’t work like that. The good you do today is not instantly rewarded, or placed on account like frequent flier miles. It is distributed based on forces unknown and unseen to us. Your karmic good may not come back to you in ways you recognize, but that does not change your duty to do it. It is more faith than science but it is real and it is in operation all the time.
Recently, I’ve witnessed tea party enthusiasts recoiling in horror when Jerry Brown had the temerity to do what they say they want done, slash spending. “It’s okay to kill other people’s programs, just not mine,” they exclaim. I’ve seen progressives dismiss those concerned about the massive debt as knuckle dragging throwbacks in an attempt to keep the money flowing. What I don’t see very often is truth or constructive conversation. Budgets will be cut, pain will be felt. It will be exquisitely bi-partisan.
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
- First Quarter 2011 Economic Report Card
- Global Economic Monitor
- Events of Interest
- May 18, 2011: International Trade Outlook
Paul Ryan’s Budget Arithmetic Makes No Sense | zero hedge
China Proposes To Cut Two Thirds Of Its $3 Trillion In USD Holdings | zero hedge
Anyone who thinks that China would never pull out of U.S. Treasuries MUST read this article.
China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.
The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high.


