United States continues to be in growth recession

Are you buying the hype that we are out of the economic downturn? Do not get any ideas, suggests Investor’s Business Daily. Slow, inadequate growth is almost indiscernible from backsliding, which is a classic sign that a growth recession is still on.

The numbers about a growth recession

When economic growth is so low that it creates net unemployment, it is called a growth recession. Underachievement in job creation or very low growth is also Growth recession. A country’s gross domestic product is expanding at too slow of a rate with job contraction.

A few signs

Here are just a couple of the signs that a growth recession is here, writes Investor’s Business Daily:

• In May 2011, there were 38,000 private-sector jobs created according to ADP Payroll Services. That’s 100,000 short of the minimum goal economists had marked for economic growth.
• Employment consultant company Challenger, Gray & Christmas noted that 37,135 jobs were cut in May, a two percent increase from the previous month.
• In the first quarter of the year, there was a 4.2 percent decrease in U.S. housing costs.
• The Mortgage Bankers Association’s mortgage application index fell 4 percent in May’s final week.
• The Institute for Supply Management’s factory activity index – an indicator of United States manufacturing health – dropped from 60.4 in April to 53.5 in May, the lowest score on the index since September 2009.

Terrible economy continues

Getting unemployment back to normal is something that may not happen considering the United States gross domestic product growth. It was only at 2.7 percent in May. 2011’s borrowing by the U.S. government has hit $1.5 trillion already. It may never be possible to keep away from the double-dip recession with that debt on our shoulders.

Michael Pento is the Euro Pacific Capital senior economist who believes that economic health won’t return unless the U.S. changes things.

“Genuine government stimulus comes from low taxes, stable prices, reduced regulation and low debt,” said Pento. “Our economic policymakers have scrupulously avoided such remedies.”

Summer 2011 will smell of economic déjà vu , says The Indypendent. Federal spending is going down while spending cuts and tax increases are appearing in cities and states while the Federal Reserve is backpedaling. The U.S. has to change things. If not, the U.S. may be looking at a depression rather than a growth recession in the future.

Growth recession at teatime

http://www.youtube.com/watch?v=lIGJy41ekEU

Articles cited

Wikipedia

en.wikipedia.org/wiki/Growth_recession

The Indypendent

indypendent.org/2011/06/02/the-coming-double-dip-recession/

Investor’s Business Daily

investors.com/NewsAndAnalysis/Article/573972/201106011847/President-Plays-Economy-Lists.htm?src=HPLNews

President renews Patriot Act from Europe by using a robotic autopen

Obama recently signed a controversial bill. The bill renewed certain provisions of the Patriot Act which were expiring. It went to the White House for approval, though Obama is currently visiting Europe. He finalized the bill via an autopen, a mechanical device which is able to replicate signatures. The machine being used at all is causing a controversy.

Still seeing government surveillance taking place

Recently, certain key provisions of the Patriot Act, were set to expire unless a bill was created, passed by Congress and finalized by the president. The controversial surveillance was passed and finalized into law by President Obama at the last minute. This was in spite of all the debate on it, reports the Christian Science Monitor. Even though Senator Rand Paul tried to rally against the bill, the government can still use the internet, business records and wiretaps without a warrant whenever they want. However, according to CNN, brouhaha in Congress has begun since the president used a robotic pen.

The new autopen

The signature was needed quickly on the document in the president was in France. He used an autopen to sign it. A person’s signature is reproduced with an autopen. The difference between an autopen and genuine signature is almost impossible to tell. Some of the machines are extremely complex. Some aren’t complex at all though, reports MSNBC. There are two businesses in the U.S. that make them, and a brief interview with Bob Olding, owner of one of those corporations, is being reproduced on several news online websites. ABC spoke with Damillic Corp., owner Olding who said that the technology hasn’t changed much since the 1930s when it came out. He makes sure the products are being used ethically by Damillic consumers as part of company policy.

Nothing illegal about this

The Constitution claims “he shall sign it” in reference to the president signing the bill. As long as a signature is directed to be attached to a document, it is valid, according to the Department of Justice. The Justice Department at first looked to the use of an autopen for precisely this purpose in 2005 and informed then President Bush that as long as he indicated his consent to the signature, an auto signature was legally valid. Vice President Quayle admits that he used an autopen in 1992 while Donald Rumsfeld used one in 2004. This was for the letters he sent to families of troops killed. Thomas Jefferson built a signature and letter duplication machine, or polygraph, in the 19th century. Autopens aren’t that uncommon. They were used in the past by astronauts, business executives and government officials.

Citations

Christian Science Monitor

csmonitor.com/USA/Politics/2011/0527/Patriot-Act-three-controversial-provisions-that-Congress-voted-to-keep

CNN

whitehouse.blogs.cnn.com/2011/05/27/rise-of-the-machines-autopen-puts-bill-into-law/?hpt=T2

MSNBC

firstread.msnbc.msn.com/_news/2011/05/27/6731197-the-great-presidential-autopen-hullabaloo

ABC

blogs.abcnews.com/politicalpunch/2011/05/robama-is-it-ok-for-a-president-to-autopen-a-bill-into-law.html

Damillic Inc

realsig.com/index.htm

Woman detained with dead and torn apart human body in trash can

A California woman was imprisoned Sunday for allegedly moving a giant trash can with dismembered human limbs along a residential road. She was booked on suspicion of homicide. Police say she is still not cooperating.

Discovered in broad daylight

At about 2:30 p.m., 51 year old Carmen Montenegro was found in San Bernardino, Calif., moving a container. Law enforcement was tipped off by reports from several residents in the area who had either seen or smelled the trash can’s gruesome contents.

Reporters spoke with Ontario Police Detective Jeff Crittendon who said “Officers stopped her leaving the location and in the trash can we found human remains.”

Just one male killed

Police currently thinks that one man was killed and the parts all belonged to him. The reason for death is unknown still. Crittendon said, “I can’t comment on the condition of the body because I am not sure of the exact extent of the injuries. I do know that it was dismembered. It appears to be a homicide.” Crittendon further said that Montenegro “had evidence on her that seemed to be consistent that she was involved with disposal of the body.”

Lawn had a hole in it

The detective also said that they believe Montenegro disinterred the remains from her previous residence. She was only 200 yards away from her house when she was imprisoned. Law enforcement found a hole dug in the yard after checking out the property.

Suspect lived in property on and off

For 15 years, Montenegro lived in the home on and off. Local residents say that either she or her mother owned the home.

More of an investigation

The police are trying to figure out who the victim is. They are working on it. The investigators may have found body fluids in the home Monday while they were checking out the property.

Montenegro was booked in Rancho Cucamonga, Calif., where she remains uncooperative with law enforcement investigators.

Articles cited

MSNBC

msnbc.msn.com/id/43223519/ns/us_news-weird_news/

NY Daily News

nydailynews.com/news/national/2011/05/31/2011-05-31_california_woman_spotted_pushing_trashcan_of_human_body_parts_down_the_street_ar.html

Huffington Post

weirdnews.aol.com/2011/05/31/carmen-montenegro-dismemb_n_869203.html#s284153&title=Dumb_Crime_Masterminds

Sex change insurance coverage something Portland mayor would like for city employees

If you’re a Portland, Ore., city staff and are considering gender change surgery, Mayor Sam Adams is on your side, states Portland Online. According to Adams, it is only right that community health insurance cover the treatment. As early as June, Portland Community Council is anticipated to vote on the mayor’s proposal.

’Fair, common sense,’ Adams believes

Mayor Adams told The Oregonian newspaper that the transgender surgery bill amounts to “fair, common sense.” The previous year, the committee decided that gender change medical operation charges should not be covered in the Portland self-insurance fund, which would be overridden if the legislation makes it. The denial ended up taking place. This was because the city did not choose entirely to change community policy like this.

Adams estimated that transgender operation benefits wouldn’t cost that much to add. It would cost around $32,000 a year for them. There would be about a .08 percent increase in the self-insurance plan spending budget for the area.

Coverage covers ‘medically necessary’ things

In 2008, the American Medical Association has identified transgender health care as “medically important.” The AMA resolution needs gender identity disorder is treated. If a doctor prescribes it as a procedure, then it isn’t allowed to withhold coverage.

“As Mayor, it is important to me that we attract and retain the best and brightest employees to the City of Portland,” writes Adams in a press statement. “Covering basic, medically-necessary care is a matter of fairness, and it’s the right thing to do.”

Kaiser or self-insurance

Currently, the Community of Portland provides two health insurance choices to its employees: insurance through Kaiser or a self-insurance plan called CityCore. If Adams’ suggestion is approved, CityCore would cover the gender change medical operation, bringing the city’s plan in line with that of 22 percent of Fortune 100 Companies and many Oregon businesses that already cover such a medical operation.

Doing what San Francisco started

San Francisco became the first U.S. community that had transgender surgery benefits available in a health plan in 2001. Sex change operations and hormone treatments were accessible to community employees after a bill was passed by the San Francisco Board of Supervisors and then-Mayor Willie Brown.

Male to female medical operation costs $37,000 and female to male cost $77,000 at that time. Fees were capped at $50,000 per person for life in the San Francisco ordinance while 15 percent if the surgeon is on the city health plan had to be paid.

View this video of Sam Adams at a Portland rally for same-sex marriage

http://www.youtube.com/watch?v=2BMPgHIrjKA

Information from

Basic Rights Oregon

basicrights.org/

OregonLive.com

blog.oregonlive.com/portlandcityhall/2011/05/mayor_sam_adams_to_push_sex-ch.html

Portland Online

portlandonline.com/mayor/?a=350579&c=49278

SF Gate

sfgate.com/cgi-bin/article.cgi?f=/c/a/2001/02/16/MN202072.DTL

House prices drop as foreclosure rates rise

House prices are still decreasing in the U.S. And foreclosure rates are increasing. This should make house buyers happy. Sellers, however, would be advised to give it more time.

Huge drop shown on report from FHFA

The Federal Housing Finance Agency reports this week that its home-price index fell in the current quarter faster than at any time since 2008. Prices have fallen 2.5 percent in the last quarter, which is a decline of 5.5 percent from last year. Only homes covered by Fannie Mae or Freddie Macwere in the report. It excludes cash only sales.

Foreclosures are the reason

FHFA acting director Edward DeMarco said, “In many local real estate markets, particularly those hit hard by this cycle, foreclosures and other distressed properties are still a key factor in recorded and anticipated future sales and may be delaying price stability or recovery.” The prices of homes in foreclosure are dropping, according to RealtyTrac. There was a 1.89 percent drop from the last quarter to an average sale price of $168,321. That is a 1.46 percent drop in price from this time last year. Foreclosures end up lowering home values in the whole neighborhood. The rest of the index ends up impacted by the foreclosures.

Foreclosure 3rd parties

”While foreclosure sales continue to account for an unusually high percentage of all residential home sales, sales volume is well off the peak we saw in the first quarter of 2009, when nearly 350,000 foreclosure properties were sold to third parties,” said CEO of RealtyTrac, James Saccacio. There was a 16 percent decline from the last quarter and 36 percent go down from a year ago in the number of homes sold to 3rd parties which was at 158,434 in the first quarter.

States have different foreclosure rates

Foreclosure rates depend on the state. Some have more while others have less. Both Ohio and Illinois had the same. It was 41 percent for both. California and Arizona had foreclosure rates of 45 percent. About 53 percent of the market was foreclosures in Nevada.

Be careful of scams

There have been more foreclosure scams recently. Some companies promise to protect from foreclosure for an upfront fee. The homeowners end up with nothing. The Federal Trade Commission no longer allows upfront fees for negotiations on mortgage reduction plans. This change was made in February.

Information from

Wall Street Journal

blogs.wsj.com/marketbeat/2011/05/25/home-prices-fall-at-fastest-pace-since-late-2008/?mod=google_news_blog

DS News

dsnews.com/articles/home-prices-post-biggest-drop-in-two-years-as-foreclosures-depress-market-2011-05-26

DS News

dsnews.com/articles/home-prices-post-biggest-drop-in-two-years-as-foreclosures-depress-market-2011-05-26

Daily Finance

dailyfinance.com/2011/05/27/foreclosure-prices-fall-again-how-your-state-stacks-up/