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Washington Policy Wonks need to look no further than recent History of 1990 Japan for answers

Meanwhile In Japan…

Submitted by Tyler Durden on 10/27/2012 18:46 -0400

Two of the saving features that allowed Japan to internalize 30-some years of failed fiscal and monetary policy (and yes, not one, not two, but now 8 failed iterations of quantitative easing) and to offset one relentless deflationary vortex was i) its demographics coupled with an investing culture that favors deposits and bonds over equities, which incentivized its aging population to invest its savings into government bonds, and ii) its trade surplus which led to foreign capital flows to enter the country. Well, as far as i) is concerned, Japan may have reached its demographic limit, since as reported several months ago, Japan’s pension funds are now not only selling JGBs to meet redemption and cash needs, but forced to do truly stupid things like investing in the riskiest of assets to generate a return at any cost. In other words, demographics will no longer be a natural source of demand for deficit funds. As for ii), well… here is what has happened with Japan’s trade surplus status in recent weeks following the collapse in the country’s foreign relationship with China.

https://www.zerohedge.com/news/2012-10-27/meanwhile-japan

Washington Policy Wonks need to look no further than recent History of 1990 Japan for answers
one small voice
Thursday October 20,2011

https://onesmallvoice.blogspot.com/search?q=Japan

Policy experts continue to be stymied by their inability to get the economy moving again .A look at recent history would suggest that both the talking heads and Washington policy wonks should know better and be better served if they took a look at the failings of Japan in the 1990’s.

In the not too distant past Japan was faced with many of the same issues caused by collapsing property and stock markets,leaving Japanese banks upside down on much of the nations collateral. Japan’s once invincible economy ran aground with similar policy missteps that our current policy makers are making .

First Japan embarked on printing money and zero interest rates to accelerate demand ,but this is like pushing on a string. It failed in the 1990’s for Japan and in reality did nothing to effect the supply and demand curve. This priming the pump or inflating your way to prosperity has historically proven to have dangerous consequences such as run away inflation and in the worst case could lead to a currency collapse.

At the same time both Japan in the 90’s and the US government today have engaged in a massive buildup of regulation for both personal and business behavior with the net effect being to suffocate business initiative.

Both countries engaged in wrong headed Government “Stimulus” plans that never work , I repeat NEVER. Most of the stimulus money is wasted or lands in the hands of public unions with little or no job creation. Again Japan in the 1990’s embarked on the same foolishness with a huge capital investment plan for infrastructure .Like the fool hearty promotion of alternative energy in the US today where at the end of the day much of the money was wasted ,taxes have to be raised to cover the debt which further suppresses economic growth.

Japanese banks simple hid there loses and in many cases have yet to recognize the depreciated collateral.The US has similar issues with the destruction of the credit markets, the 2000 stealth stock market crash and the inability for the government to offer any reliable economic statistics. There is a consistent theme of not facing the reality of the current economic situation.

Finally for both countries their constant central and state government tweaking or interference with the economy and its unintended consequences have created so much uncertainty that they have virtually stifled business decision making.

The current period of economic decline will not end until more substantive pro-growth policy’s are enacted ,such as deregulation, shrinking the size and scope of government ,paying down debt and lowering taxes. It is just that simple.

https://onesmallvoice.blogspot.com/search?q=Japan

 

Diabetes Foundation and Ridgewood YMCA To Host “Everything Diabetes” Health Fair
October 26,2012

Ridgewood NJ, On Saturday morning, November 10th, the Diabetes Foundation, Inc. and the Ridgewood YMCA will hold an informational health fair titled “Everything Diabetes”. The event will provide information, advice, and resources for those living with diabetes, and those who are looking to prevent it. The morning will offer free health screenings, include eye health, foot, blood pressure and blood sugar screenings; fitness and BMI assessments; and other types of testing, all free of charge. Certified diabetes educators, dietitians and other medical professionals will be available to discuss nutrition, weight loss, diabetic medications and supplies, physical activity, behavior change, complications, and signs and symptoms for those at risk. Hourly educational seminars on nutrition and other related topics will be presented by various professionals in the field, including the Valley Hospital. There will be plenty of opportunities to ask the experts if you have a particular concern. Attendees will enjoy giveaways, cooking demonstrations, and refreshments from vendors and local businesses and healthcare professionals. Admission is free. The fair will be held from 9:00am to 1:00 pm at the Ridgewood YMCA, 112 Oak St., Ridgewood, NJ.

Since 1990, the Diabetes Foundation, Inc, located in Paramus, has been improving the care and quality of life for people living with diabetes throughout New Jersey and the tri-state area. The Foundation serves a population that lives day-to-day with this serious chronic disorder and needs help “now” in managing their disease. Programs of the Foundation include: assistance with medications and supplies to those in financial need; camp sponsorships for diabetic children; and, free public education programs on diabetes-related topics.

The Ridgewood YMCA welcomes and supports children and families by teaching the values of caring, honesty, respect, and responsibility. There are programs of interest to everyone-girls, boys, men and women, of all ages, races, religions, incomes and abilities. The YMCA builds strong kids, strong families, and strong communities. Membership is open to all.

For further information about the event, contact the Diabetes Foundation, Inc. at 201-444-0337 or [email protected].

Ridgewood Blog : Special Hurricane Sandy Updates

Christie Administration Announces Full Suspension of NJ Transit Service, Beginning this Afternoon. The systematic shutdown of NJ TRANSIT service will require a minimum of 12 hours to complete. Bus, Light Rail, Access Link to Suspend Operations at 2:00 am. Atlantic City Line to Close by 4:00 pm Due to Evacuation of Atlantic City; All Other Lines to Begin Shutdowns Later This Evening.

Port Authority will shut down all PATH train service and stations will be shutdown at 12:01 am Monday, October 29 until further notice due to Hurricane Sandy.

The MTA has been directed by Governor Andrew M. Cuomo to begin an orderly shutdown and suspension of all subway, bus and commuter railroad service at 7 p.m. Sunday. NY Subway services will begin an orderly suspension of service at 7 p.m. this evening , and 9:00 p.m. for buses.

Governor Chris Christie announces Monday closure of state offices ahead of hurricane Sandy .

Mayor Michael Bloomberg ordered mandatory evacuation of low-lying areas in New York City . New York City also announced the closings of New York City school system .

file photo from past storms

How to Report Power Outages and Downed Power Lines

In preparation for Hurricane Sandy, expected to hit New Jersey early next week, local utility companies have provided information on how customers can stay safe and report power disruptions and downed power lines.

PSE&G Customers:To report downed wires or power outages, customers should call PSE&G’s Customer Service line at 1-800-436-PSEG. PSE&G uses an automated system to handle customer calls as efficiently as possible. Customers who get an automated response when calling PSE&G are encouraged to use it, as it is designed to route their calls to the right destination quickly.

The system also provides the option to speak directly to a customer service representative. If you have specific information regarding damage to wires, transformers or poles, we ask that you speak with a representative to provide that information.Customers with a handheld device, or who are at an alternate location with power, can also report power outages and view the status of their outage by logging in to My Account at pseg.com.

General outage activity throughout our service territory is available online at www.pseg.com/outagecenter and updates are posted on pseg.com during severe weather.In addition, if outages are widespread, the utility will activate its Twitter page to keep the public informed about our restoration progress. Sign up as a follower at https://twitter.com/psegdelivers to monitor restoration progress.

Senate approves controversial EMS regulation proposal in narrow vote

A controversial emergency services regulation bill is surviving, even if on life support, with the New Jersey Senate giving the measure narrow approval Thursday.

The bill from Democrats has been criticized by volunteer first aiders for enabling their replacement by paid professionals. A similar bill was vetoed by Republican Gov. Chris Christie in January.

The Senate’s 22-14 vote was mostly along party lines but gave the measure one vote more than the 21 required for passage, sending the proposal to the Assembly for consideration.

The New Jersey State First Aid Council, representing 320 volunteer ambulance squads, said in a statement that it opposes sections of the bill that “would lead to a diminishing role for volunteers to the benefit of paid services,” and that the proposal “calls for services that cannot be afforded in the current economy.”  (Jordan, Asbury Park Press)

https://www.app.com/article/20121025/NJNEWS11/310250115/Senate-approves-controversial-EMS-regulation-proposal-narrow-vote

The Economic Impact of High-Earner Tax Hikes

Costs of Obama’s Plan to Raise Tax Rates on Incomes over $200,000

Washington, D.C., October 25, 2012—President Obama’s proposal to raise taxes on individuals earning more than $200,000 would slow economic growth and reduce future incomes across the board, according to a new analysis by the Tax Foundation. The amount of income that would be lost over the next ten years because of higher taxes varies by state, ranging from $2 billion in Vermont to as much as $241 billion in California.

“President Obama’s campaign to raise taxes on high-income earners presents an overly simplistic view of the economy, as if tax increases only affect those people who write checks to the IRS,” said Tax Foundation chief economist William McBride. “When high income families are hit with additional taxes, they reduce spending on goods and services and invest less. All of this hurts economic growth over the long run, resulting in fewer jobs and lower wages.”

In dollar terms, the states most affected are large, high-income states. California stands to lose $241 billion over ten years as a result of the president’s tax policies, followed by New York at $186 billion, Texas at $131 billion, Florida at $104 billion, and Illinois at $74 billion.

As a percent of income, Wyoming is most affected, losing 1.82 percent of income in 2013, followed by Connecticut at 1.76 percent, New York at 1.61 percent, Delaware at 1.49 percent, and Massachusetts at 1.40 percent. In all, thirteen states are set to lose at least 1 percent of income as a result of these tax increases, and every state loses at least 0.5 percent of income.

Many businesses would also be directly affected by the President’s proposed tax increases, since the vast majority of businesses file under the individual tax code. These so-called “pass-through” businesses, such as partnerships, S corporations, and sole proprietorships, earn more income and employ more workers than companies which file under the corporate code. Most of this pass-through business income (about 66 percent) is reported by taxpayers earning more than $250,000.

Recent economic analyses that take into account the pass-through business sector find that raising personal income tax rates on high-income earners does significant harm is done to the economy. Economists Robert Carroll and Gerald Prante, for example, found that 710,000 jobs would be lost as a result of President Obama’s tax policies.

Tax Foundation Fiscal Fact No. 333, “How State would be Affected by Obama’s Proposed Tax Increases on High-Income Earners” by William McBride is available online.

The Tax Foundation is a nonpartisan research organization that has monitored fiscal policy at the federal, state and local levels since 1937. To schedule an interview, please contact Richard Morrison, the Tax Foundation’s Manager of Communications, at 202-464-5102 or [email protected].

The Village of Ridgewood Parks and Recreation Department
October 26,2012

The Village of Ridgewood Parks and Recreation Department is sponsoring the following programs. Registration forms can be submitted in person or by mail (cash or check only). Online registration using Visa or MasterCard is done through Community Pass. Call the Recreation Office at 201-670-5560 with any questions or if special accommodations are needed. https://www.ridgewoodnj.net/department_detail.cfm?dept_id=34

 A Fall Middle School Mixer for Grades 7 and 8 will be held on Friday, November 2 from 7:30-9 p.m. Sponsored by Ridgewood Parks and Recreation, the Bergen County Municipal Alliance Grant and the NJ Governor’s Council on Alcoholism and Drug Abuse, students from Village middle schools can come together to enjoy music, dancing, refreshments and fun at the Annie Zusy Youth Center. A donation of $8 is requested (all funding will benefit the refurbishment of the Community Center). The dance will be held in the Annie Zusy Youth Center, located on the ground level of Village Hall, 131 N. Maple Avenue. Parents must drop off and pick up children in the rear lot of Village Hall by the Community Center entrance.

 Bats, Bats, Bats, a children’s show, will be held on Wednesday, November 7 at 11 a.m. in the Anne Zusy Youth Center, Village Hall, 131 North Maple Ave. Expert Joseph D’Angeli will present live bats and lecture on the vital role these endangered creatures play on earth. Co-sponsored by The Women Gardeners of Ridgewood and Ridgewood Parks and Recreation, the cost is $5 per person (free to “Green Kids” club members). Tickets may be purchased in advance at The Stable, 259 N. Maple Avenue, Monday through Friday, 8:30 a.m. to 4:30 p.m. Telephone 201-670-5560.

 Peas And Carrots Music, a children’s show, will be held on Thursday, November 8 at 1 p.m. at the Anne Zusy Youth Center, Village Hall, 131 N. Maple Avenue. Peas and Carrots Music uses music as that perfect medium to teach basic fundamentals of everyday life, such as the days of the week, the diversity of animals and nature, or just simple counting. Audience members of all ages will enjoy this live presentation with educational and traditional songs. The cost is $5 (ages 2 and up). Purchase tickets in advance at The Stable, 259 N. Maple Ave., Monday through Friday,
8:30 am to 4:30 pm. Telephone 201-670-5560.

John Wayne “the Alamo ”

Texas sparks international row with election observers
By Julian Pecquet – 10/25/12 03:04 PM ET

Texas authorities have threatened to arrest international election observers, prompting a furious response from the Organization for Security and Co-operation in Europe (OSCE).

“The threat of criminal sanctions against [international] observers is unacceptable,” Janez Lenarčič, the Director of the OSCE Office for Democratic Institutions and Human Rights (ODIHR), said in a statement. “The United States, like all countries in the OSCE, has an obligation to invite ODIHR observers to observe its elections.”

Lawmakers from the group of 56 European and Central Asian nations have been observing U.S. elections since 2002, without incident. Their presence has become a flashpoint this year, however, as Republicans accuse Democrats of voter fraud while Democrats counter that GOP-inspired voter ID laws aim to disenfranchise minority voters.

Texas Attorney General Greg Abbott further fueled the controversy on Tuesday when he sent a letter to the OSCE warning the organization that its representatives “are not authorized by Texas law to enter a polling place” and that it “may be a criminal offense for OSCE’s representatives to maintain a presence within 100 feet of a polling place’s entrance.”

https://thehill.com/blogs/global-affairs/un-treaties/264121-texas-sparks-international-row-with-election-observers

Photo by Boyd Loving

Summer is over, but Graydon Pool hours are on Ridgewood Council agenda

TUESDAY OCTOBER 23, 2012, 11:07 AM
BY DARIUS AMOS
STAFF WRITER
THE RIDGEWOOD NEWS

The Ridgewood Council will discuss Graydon Pool’s hours of operation, specifically focusing on the facility’s start time for the first and last three weeks of the swimming season.

During Wednesday’s public work session, council members are expected to weigh the pros and cons of opening the pool at 10 a.m. during the first three weeks of June, while village schools are still in progress. They will also evaluate a 10 a.m. start time for the closing weeks of August.

Prior to the 2012 swim season, council members opted to open the pool at 10 a.m. instead of the usual noon for the first three weeks of June. Because attendance during that time was deemed adequate, officials voted to keep the 10 a.m. start time for the final three weeks of the season.

Village officials deemed this past season as a test run, and council members plan to open the discussion for 2013 this week.

“We want to get this done early so we can have it on the [village] calendar,” Mayor Paul Aronsohn said earlier this month. “My personal view is that [the 10 a.m. start] is money well spent.”

Tim Cronin, director of the Parks and Recreation Department, said final head counts and financial reports would be ready for the work session on Wednesday. He previously indicated to the council that the head count ranged between zero to 19 pool patrons from 10 a.m. to noon during the first three weeks of June.

https://www.northjersey.com/news/175415261_Summer_is_over__but_Graydon_Pool_hours_are_on_Ridgewood_Council_agenda.html

Romney Peacenik
Tuesday, October 23, 2012
https://johnbatchelorshow.com/blog/2012/10/romney-peacenik

Group : Mona Charen, Mary Kissel, Salena Zito, Lara Brown, David Drucker, Brett Arends, Bill Roggio, Arif Rafiq, John Fund, Gordon Chang, Reza Kahlili, Kori Schake, Gene Countrymen

https://johnbatchelorshow.com/blog/2012/10/romney-peacenik

In the final presidential debate the general opinion was the Mr. Romney presented a careful, measured, quiet, pacific demeanor in comparison to Mr. Obama’s strident, accusatory, argumentative, sometimes slashing style.

Why did Mr. Obama choose to go on the offensive? An answer that is repeated elsewhere of weight is that Mr. Obama knows he is trailing in the polls and sinking in the Electoral College, and he knows to make up ground he must rock his opponent.

Neither candidate said anything new tonight; both repeated campaign lines and criticisms they had made of each other before. And yet Mr. Obama aimed at Mr. Romney as if he could knock him from the field with barbs and disdain.

Mr. Romney arrived with a strategy of passive aggression: he aimed to present himself as plausible and peaceable. The mistake he aimed to avoid was to appear or sound warlike in any fashion that would allow Mr. Obama to connect Romney to the Bush administration, 2001-2009. Romney not only achieved his modest aim — Mitt Romney Peacenik — but also he presented pieces of the economic vision for his candidacy — twelve million jobs, reducing deficits to avoid becoming like Greece –that the president has not yet answered with the Obama second term vision.

Foreign policy does not change votes unless you make a foreign policy mistake that undermines credibility or suggests instability. Mr. Romney avoided mistakes and overstatements.

Cleverly, Mr. Romney moved some of the conversation back to the domestic economy where he believes Mr. Obama is losing his mandate; however Mr. Romney chattered about the disappointment of the last four years in a sober, pensive, resigned way, not ever sounding accusatory to the president.

The evening displayed the magic of role reversal. I asked all my guests, “Who is the challenger?” and routinely they answered, “The president.” World turned upside down.

https://johnbatchelorshow.com/blog/2012/10/romney-peacenik

Ridgewood School District details state HIB report
Monday October 22, 2012, 2:06 PM
BY  LAURA HERZOG
STAFF WRITER
The Ridgewood News

Despite a slight increase in harassment, bullying and intimidation (HIB) incidents in district schools, Ridgewood High School Assistant Principal Basil Pizzuto said there doesn’t seem to be any reason for alarm.

Less than one percent of the roughly 6,000 students in Ridgewood schools – 51 students – were involved in the incidents, he said.

About 10 more HIB incidents were recorded in the annual School Violence, Vandalism and Substance Abuse Report than last year, but the rest of the numbers were roughly the same, according to Pizzuto. He mainly attributed this to the increased “focus” on HIB in the past year, as well as a new, broader state definition of what constitutes a HIB incident.

Effective September 2011, the state specified that a single incident of harm can constitute a HIB report. Another change to the definition is the demonstration of a created “hostile educational environment” that interferes with a student’s education or “severely or pervasively caus[es] physical or emotional harm” to him or her.

“These [incidents], in the past, may have just been handled at the school level … Now we do a report,” Pizzuto said. He noted that in past years, an incident of bullying may have been handled by telling a student not to act in that way again, followed by a phone call to a parent.

Each annual report is broken down into two components – July 1 through Dec. 30 and Jan. 1 through June 30.

https://www.northjersey.com/news/175275361_Ridgewood_School_District_details_state_HIB_report.html