Official data released today shows that Britain has slipped into a new recession.
Britain's new recession is not a direct consequence of policies of the European Central Bank, because Britain is not in the Eurozone. It retains its own currency, the pound.
But the Cameron government has been following a policy of economic austerity, insisting that this will lead to economic expansion.
Apparently, not so much.
Actually, Britain's recovery from this recession is worse than its performance in the 1930's following the Great Depression.
Wednesday, April 25, 2012
Tuesday, April 24, 2012
More On The South Avenue Deal
Today's Parks and Rec meeting was good, because attendees asked a number of probing and worthwhile questions. Those interested in taking another look might want to review some earlier observations I made here.
I think my previous post covers most of the issues. I'd be happy to answer any questions anyone may have. Contact me at: cox.d.r@att.net.
I think my previous post covers most of the issues. I'd be happy to answer any questions anyone may have. Contact me at: cox.d.r@att.net.
South Avenue Special Meeting
This morning a special meeting of Oriental's Parks and Recreation Board met at the intersection of Avenue A and South Avenue. According to my sources, some assertions were made that may not be entirely factual, and questions raised to which the answers are available.
For those curious about background details, I recommend a search in this blog site for "South Avenue." I have made a lot of posts, in considerable detail, over the past three years. One post, that shows the survey of the intersection by Dennis Fornes, is worth taking a look at: http://mile181.blogspot.com/2010/06/south-avenue-street-end.html
The pink wedge shows where the pavement curved around to the left from South Avenue. There has been discussion since winning the case, that the town would have to tear up the pavement and return the wedge to the owner of the corner lot.
It ain't necessarily so. So far as I have been able to tell, that curve has existed since at least 1936 and probably from as far back as the 1920's. The public has been using that curve in the road as a right of way all that time. That is more than sufficient time to establish the curve as town right of way by prescription.
The town can certainly abandon that portion of right of way, following a public hearing, just as it can abandon rights of way established by other methods. But there must be a hearing.
More on this set of issues later.
For those curious about background details, I recommend a search in this blog site for "South Avenue." I have made a lot of posts, in considerable detail, over the past three years. One post, that shows the survey of the intersection by Dennis Fornes, is worth taking a look at: http://mile181.blogspot.com/2010/06/south-avenue-street-end.html
The pink wedge shows where the pavement curved around to the left from South Avenue. There has been discussion since winning the case, that the town would have to tear up the pavement and return the wedge to the owner of the corner lot.
It ain't necessarily so. So far as I have been able to tell, that curve has existed since at least 1936 and probably from as far back as the 1920's. The public has been using that curve in the road as a right of way all that time. That is more than sufficient time to establish the curve as town right of way by prescription.
The town can certainly abandon that portion of right of way, following a public hearing, just as it can abandon rights of way established by other methods. But there must be a hearing.
More on this set of issues later.
Monday, April 23, 2012
More On Europe And The US
Good article in today's Guardian concerning the economic and political turmoil in Europe and the continued intransigence of her economic leaders. The author, Robin Wells, predicts the US may suffer collateral damage.
Spain In Recession
It was announced this morning that Spain is officially in recession. Not a surprise. Spain, like other countries in the periphery of Europe, has been pressed by Germany and the European Central Bank to pursue policies of economic austerity. This is guaranteed to make things worse. Paul Krugman recently (and accurately) identified what was happening in Spain as insane.
But the insanity is not confined to Spain. It is happening everywhere in Europe, but voters are beginning to push back. Spain's unemployment rate, by the way is 23.6% and among young people about 50%. Austerity will make this worse. Is Europe committing economic suicide? Or just political suicide?
In the Netherlands, already in recession, the government has resigned after failing to get approval for further austerity measures.
Guess what? The economic measures causing such distress in Europe are just like the ones contained in Paul Ryan's budget.
Two years ago, the Republican narrative was that it was the budget deficit that caused the economic decline and loss of jobs. I would call that an intentional lie, except there are some voodoo economists playing for team Republican who still hawk those wares.
But it isn't true. It is true that economic crises and the resulting loss of jobs and income causes budget deficits. More government spending is still the most effective and speedy remedy for declines in aggregate demand that result from unemployment, even while spending on such safety net measures as extended unemployment benefits protects businesses from even more precipitous declines in their customer base.
But the insanity is not confined to Spain. It is happening everywhere in Europe, but voters are beginning to push back. Spain's unemployment rate, by the way is 23.6% and among young people about 50%. Austerity will make this worse. Is Europe committing economic suicide? Or just political suicide?
In the Netherlands, already in recession, the government has resigned after failing to get approval for further austerity measures.
Guess what? The economic measures causing such distress in Europe are just like the ones contained in Paul Ryan's budget.
Two years ago, the Republican narrative was that it was the budget deficit that caused the economic decline and loss of jobs. I would call that an intentional lie, except there are some voodoo economists playing for team Republican who still hawk those wares.
But it isn't true. It is true that economic crises and the resulting loss of jobs and income causes budget deficits. More government spending is still the most effective and speedy remedy for declines in aggregate demand that result from unemployment, even while spending on such safety net measures as extended unemployment benefits protects businesses from even more precipitous declines in their customer base.
Sunday, April 22, 2012
Europe On The Edge
This weekend's elections in France may portend a serious shakeup in European politics. Nicolas Sarkozy lost the first round of elections to the Socialist candidate, Francois Hollande. There will be a runoff election between these two leading candidates on May 6.
I had previously suggested that the first decade of the Euro could well be the last. For awhile, it appeared that the Greek government might be the most vulnerable in Europe to a repudiation by the electorate of austerity measures. Clearly this past weekend, French voters sent a strong signal. It seems increasingly likely that European voters in other countries will reject the austerity forced on them by the European Central Bank under the strong influence of Germany.
"It [the election] may also represent the first stirrings of a challenge to the German-dominated narrative of the euro crisis, which holds that public debt and runaway spending are the main culprits and that austerity must precede growth." - NY Times.
It has been obvious to what I would call the sensible economists (those of a Keynesian bent) for a long time that austerity in a time of recession will not lead to growth. It should have been equally obvious to political leaders that intentionally causing a depression in one's own country is not a recipe for reelection.
Over the weekend, the Dutch government failed to gain majority support for austerity measures, and more Czechs turned out to protest a tax increase and budget cuts than any protest since 1989.
I had previously suggested that the first decade of the Euro could well be the last. For awhile, it appeared that the Greek government might be the most vulnerable in Europe to a repudiation by the electorate of austerity measures. Clearly this past weekend, French voters sent a strong signal. It seems increasingly likely that European voters in other countries will reject the austerity forced on them by the European Central Bank under the strong influence of Germany.
"It [the election] may also represent the first stirrings of a challenge to the German-dominated narrative of the euro crisis, which holds that public debt and runaway spending are the main culprits and that austerity must precede growth." - NY Times.
It has been obvious to what I would call the sensible economists (those of a Keynesian bent) for a long time that austerity in a time of recession will not lead to growth. It should have been equally obvious to political leaders that intentionally causing a depression in one's own country is not a recipe for reelection.
Over the weekend, the Dutch government failed to gain majority support for austerity measures, and more Czechs turned out to protest a tax increase and budget cuts than any protest since 1989.
Other countries whose voters increasingly press for growth instead of austerity include Great Britain, Spain and Italy.
It may be possible to rescue the Euro, but it looks more and more difficult.
Friday, April 20, 2012
Chickens In Cary
Just noted in the News and Observer:
"Cary is set to legalize backyard chickens as
early as this summer. A 5-2 majority of the Cary Town Council has
endorsed a plan to allow six hens per house in backyard coops across
town.
"The governing board on Thursday night suggested that residents pay a $50 initial fee and an as-yet undetermined annual fee for the chicken-keeping priviledge.
Mayor Harold Weinbrecht and Councilman Jack Smith voted against the overall idea of backyard chicken legalization, but will help shape a compromise ordinance. The new rules would take effect immediately upon adoption in June or July."
Some of us on Oriental's town board tried three years ago to modify our ordinance, (a disguised anti-chicken provision) to allow backyard chickens in our small rural town, population 900, at the end of the highway. I was astounded at the opposition.
If Cary, a town of 94,000 with an urban/suburban environment can have chickens, how come we can't?
"The governing board on Thursday night suggested that residents pay a $50 initial fee and an as-yet undetermined annual fee for the chicken-keeping priviledge.
Mayor Harold Weinbrecht and Councilman Jack Smith voted against the overall idea of backyard chicken legalization, but will help shape a compromise ordinance. The new rules would take effect immediately upon adoption in June or July."
Some of us on Oriental's town board tried three years ago to modify our ordinance, (a disguised anti-chicken provision) to allow backyard chickens in our small rural town, population 900, at the end of the highway. I was astounded at the opposition.
If Cary, a town of 94,000 with an urban/suburban environment can have chickens, how come we can't?
Thursday, April 19, 2012
Town Of Oriental Announcement
Just in - or at least I just noticed:
Special Parks & Recreation Board Meeting - April 24, 2012 8:00 am to begin on the corner of South Ave. and Ave. A.
Parks & Recreation Board will begin their
meeting at 8 am near the corner of South Ave and Ave A to discuss design
concepts for a new town pier/dock. Meeting will continue at 8:30 am in
the Baptist Church on Broad Street.
For more information please contact town hall at 249-0555.
For more information please contact town hall at 249-0555.
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