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I've looked at class from both sides now

From win and lose:

When Emily Cook, a screenwriter, bought a house four years ago in Eagle Rock, a neighborhood on the Northeast side of Los Angeles, she fantasized what the area might look like in a year or two, with cafes and boutiques replacing tattered old businesses. “It was like fantasy football,” said Ms. Cook, 38, who also sings in a band named Fonda.

... and still somehow ...

A sad flower shop on the corner, she thought, could become a miniature Whole Foods. An upholstery store could be a gastropub where she and friends would grab a beer, and a neglected 1940s diner could become a retro spot for a quick meal.

Read below the fold...
a little night musing's picture

Wisdom from the subway

Seen while exiting the subway yesterday:


Further (a)musings on the subject are here. Read below the fold...

We'll know we're making progress...

... when Obama's budget brings "cries of class warfare" from Democrats.

The Republicans do that all the time, so who cares? Read below the fold...

Get Out Your Asbestos Umbrellas

Thread: 

Welcome to 2017

You know how the sky is supposed to open up and rain fire on us in 2017, when Social Security payroll tax receipts are less than what it costs to provide Social Security? Well get out your asbestos umbrellas folks, because according to the Obama budget (page 123), its happening this year.

According to the "outlays" section, Social Security will cost 662 billion in FY 2009 (which started October 1, 2008...we're five months into it.) And under "receipts", we see that "Social Security Payroll Taxes" come to only 654 billion. Read below the fold...

Shoving the Overton window left

Good.

Not sure about Lord Kos doing the polling -- can Kos be trusted not to purge the results? -- but Hamsher and Greenwald have fought the good fight (modulo some peccadillos in the primariez, which we've all moved on from anyhow).

One question:

The mission statement reads: Read below the fold...

Sarah's picture

Bank Failure Upswing Expected

Thread: 

Last year the FDIC seized 25 banks. In the first month and a half of this year, the agency has already shuttered 14 more institutions. The end is not in sight, according to Reuters -- but the story's come out through their UK outlet.

Bank analysts and industry insiders say a continued deterioration in credit conditions will be the driving force behind a big upswing in the number of failures, but policy decisions will also push the numbers up.

Read below the fold...
Caro's picture

Politics and Media Headlines 2/26/09

Zombie Bank Monster Mash, by Mark Fiore (click here to play the animation)

Read below the fold...

Animal spirits

Conservative clang birds

The definition:

"The Clang Bird is a rare creature that flies in ever decreasing circles at ever increasing speeds until with a terrible clang it disappears up its own asshole. It is only because of the will of God that the Clang Bird is not yet extinct."
— St. Gomer, O.S.T., Founder, Order of St. Thomas, Novissima Verba, 1717*

The example: Read below the fold...

80% of mortage fraud is from banksters, not homeowners

Go read William Black (senior regulator during S&L debacle):

The FBI has been warning of an "epidemic" of mortgage fraud since September 2004. It also reports that lenders initiated 80% of these frauds.

In fact, the fraud is so egregious that the "stress tests" really are kabuki: That's because the banksters didn't ask for documents from the lenders, because they didn't want to know:

Read below the fold...

Niall Ferguson: "There will be blood"

But not, probably, here in the US. Interesting read. Read below the fold...

bringiton's picture

Madam Speaker in her own words

Speaker Pelosi gives an interview. Nice get for Maddow. Read below the fold...

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