politics: The Income Gap Widens - 11/02/09 01:09 AM
The Great Recession is not the great American equalizer after all. It's been widely reported recently that this recession hit middle and low income families the hardest, while the wealthy have continued to prosper. It may be chic to save and everyone brags about coupon clipping, but the idea that "we are all in this together" may not actually be the case.
According to the Associated Press, incomes have declined across all demographics, but at a greater percentage for middle and lower income groups. "Median income fell last year from $52,163 to $50,303, wiping out a decade's worth of gains … (0 comments)
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politics: Obama's Public Works Project - 12/21/08 02:51 AM
The economic news continues to herald even more horrible times up ahead. If only January were here, already! If President-elect Barack Obama manages to pull off the public works improvements he is proposing, maybe blue skies are on the horizon.
On January 6, Obama laid out his expansive plan to revive the economy through a job-creating public works project on a scale not seen since the building of the interstate highway system in the 1950s. According to the plan, millions of jobs will be created across a wide range of sectors, from construction jobs working on the improvement of … (1 comments)
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politics: Registered Voters Take Advantage of Early Voting In Travis County - 11/04/08 04:05 AM
Early voting began on Monday, October 20th and ran until Friday, October 31st. Travis County alone is expected to see nearly 450,000 people take advantage of casting their ballot early.
In the last presidential election, about 62% of registered voters in Travis County voted early. At the time this was a near record turnout since early voting began in Travis County in 1988. The expectation is that this years numbers will be much higher than 2004. Why? The primary had a 51% turnout which was well above the average of 35% that we tend to see for primaries and gubernatorial … (0 comments)
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politics: The Texas Governor's Mansion - 09/15/08 04:17 AM
The Texas Governor's Mansion, which is located a block southwest of the Texas State Capitol Building in downtown Austin, is the most historic home in the Austin real estate market and the longest continuously inhabited executive residence west of the Mississippi River. Built in 1856, the Governor's Mansion underwent construction after the Texas Legislature appropriated $14,500 in order for a suitable home to be built for the 5th governor of Texas, Elisha Pease, and his wife, Lucadia.
The mansion is a Texas historical landmark, and the Greek Revival style home was built by master architect and builder Abner Cook, who … (0 comments)
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politics: Peak Oil and the '08 Election - 05/04/08 04:00 AM
The headlines this month have been taken by the most insidious of America's vices: black gold. Oil futures are now projected to exceed $100 a barrel until 2016, and continue to sit comfortably near the $115-120 a barrel mark. Many different causes have been blamed for rising prices at the pump, ranging from massive speculation to supply instability in some oil-producing nations. However, one factor must surely be worrisome to most every American: oil companies haven't been getting enough of the stuff out of the ground.
Exxon Mobil's $11 billion quarterly profit disappointed Wall Street and investors alike, their shares … (4 comments)
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politics: Bear Stearns and the Free Market - 03/19/08 06:38 PM
The recent government-sponsored bailout of Bear Stearns, one of the top five lenders in the United States, has shocked traders and left investors cold. Despite the chilly reaction on Wall Street, secretly many are breathing a sigh of relief. While Bear Stearns was mismanaged from its upper echelons, its subprime exposure grew until their recent $30 billion-plus losses had to be reported.
Once that happened, their course took a turn for the worse. As their ability to shore up capital faltered, JPMorgan Chase stepped in with a buyout worth a bargain $2 a share, valuing a company worth $3.5 billion … (2 comments)
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politics: Is the Democratic Primary Destroying the Democrats? - 03/19/08 01:30 AM
I usually write about real estate. But every so often I like to throw in something completely different. So now for something different
Two months ago the Democrats were looking at numerous positive signals for their chances in the November election. First the polls of a generic Democrat versus a generic Republican showed Democrats leading by a spread of over 10 points. The leader of the Democratic field, Barack Obama, enjoyed a substantial lead over the presumptive Republican nominee John McCain.
To make matters better for the Democrats the Republicans were going through an ideological schism. The conservative wing … (2 comments)
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politics: Bear Stearns from 20 Billion to 236 Million and Beyond - 03/17/08 07:47 PM
What a difference a year makes. Last year at this time Bear Stearns had a high flying stock price of $150 a share and a market valuation of 20 Billion. Having been founded in 1923 they were considered one of Wall Streets most venerable investment houses.
Going back to 2005 Bear Stearns was selected as "Most Admired" securities company in Fortunes annual survey a distinction they retained until 2007. During this time period many of the decisions that would lead to their eventual downfall were being made. In the middle of 2007 the armor of Bear Stearns started to crack. … (2 comments)
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politics: Hillary and Obama: Where Are The Issues? - 03/06/08 04:24 PM
Recent elections have rarely been as heated as the '08 race for the Democratic nomination between freshman Illinois Senator Barack Obama and New York Senator Hillary Clinton. From the televised bickering of their national debates to the recent jabs over NAFTA, the fight has hung on tiny margins several times throughout their respective campaigns. March 4 was a significant day for the primary candidates because Hillary Clinton managed to, for at least the second time, defy the odds and win the key states of Ohio and Texas, taking the less important Rhode Island to boot.
While Barack Obama still holds … (2 comments)
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politics: Can The Bush Tax Cut Work? - 01/16/08 09:31 PM
After weeks of increasingly dismal reports from the financial sector, many regular Americans are beginning to worry that the US may be close to or already in recession. While government intervention in the economy is relatively uncommon in US history, since its establishment in the 1930's, the Federal Reserve has been able to manipulate interest rates, giving them the power to make all real estate loans more or less expensive by some degree, which comes with a hefty responsibility: controlling inflation. While the Fed has cut their rate three times in as many months last quarter, the economy also began to … (0 comments)
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