Category Archives: U.S.

Business/Economics, U.S.

JP Morgan Chase Foreclosing Homes Making Big Profits

Today JP Morgan Chase reported a 23% profit for the 3rd quarter of 2010.  That’s $4.4 billion profit.

JP Morgan Chase is one of the companies involved in questionable home foreclosures. They are also one of the big banks that got a big taxpayer bailout.

NEW YORK - MARCH 24: (FILE PHOTO) A man walks on the sidewalk in front of the JP Morgan Chase building March 24, 2008 in New York City. The bank has reported large third-quarter earnings but has also allocated $2 billion to cover loan losses. (Photo by Chris Hondros/Getty Images)

According to Mother Jones, JP Morgan Chase paid back only $68.3 billion of the $229.7 billion they got from taxpayers.  Our government acted like it was fully paid.

JP Morgan Chase halted 56,000 foreclosures, in states that require court approval, after “mistakes” were found.  The Attorney General of California, a state that does not require court approval, has demanded that JP Morgan prove its foreclosure practices are lawful in that state (www.adi-news.com).  Only 23 states require court approval of foreclosures.

CHICAGO - JULY 15: Crystal Richard demonstrates with her children outside the offices of JPMorgan Chase on July 15, 2010 in Chicago, Illinois. Richard's family is being evicted from the apartment building where they live because the building has been deemed uninhabitable by the city. Residents claim the building was not maintained after the bank after took over the building following a 2008 foreclosure. Residents are required to be out of the building by Saturday. (Photo by Scott Olson/Getty Images)

In a recent Bloomberg article, attorneys claim they have found “errors” in 75% of foreclosure paperwork.  Again, this is only in the states that require court approval.  JP Morgan, along with other big banks, have admitted that their employees may have filled out foreclosure paperwork without checking the facts.  In other words, they filed foreclosure claims arbitrarily.  Attorney Richard Kessler said it will take decades to straighten out the foreclosure fiasco.

Business/Economics, Idaho, U.S.

Lies, Lies and More Lies. Snidely the Illegal Forecloser Returns.

When the scandals of arbitrary home foreclosures were revealed, it was reported by some news sources to involve only people who missed payments (money.cnn.com).  Lies!

I have seen several reports where homes were foreclosed with no payments missed. In one example, a man paid cash for his home, no payments to make, and Bank of America foreclosed his home (www.sun-sentinel.com).  A foreclosure attorney admitted that mistakes “happen all the time”, and that they just aren’t reported.

Here’s some info to cause concern.  Those foreclosure fiasco cases are only being reported in states that require a court process to complete.  Almost half of the states do not require a court process, including Idaho (where I live) and California (where most of my relatives live).  The problem is, that the same financial Snidelys that are illegally foreclosing on people, in the states requiring Judicial Process, are also operating in the states with Non Judicial Process.  If you are getting unfairly foreclosed on you can do an internet search under ‘fighting foreclosure’.  You’ll probably have to hire an attorney anyway.

Here’s some data (updated October 12th, 2010) on the number of foreclosed homes for sale in selected Idaho counties.  Ada: 885.  Bonner: 342.  Bonneville: 85.  Twin Falls: 76.  Bannock: 38. (www.foreclosuredataonline.com)

Idaho’s foreclosure numbers may not seem like much, but compare Idaho’s  population of 1.5 million people, to California’s nearly 37 million (U.S. Census Bureau). According to a Bloomberg.com article, Idaho’s foreclosure rate increased 822% in the second quarter of 2010.  How many of those are bogus/illegal?  We’re seeing the return of the melodramatic bad guy, a Snidely who loves to foreclose the homes of little old ladies and ruin families.

Business/Economics, International, Opinion, U.S.

China No Longer Needs Us. November Elections. The Economy is Everything.

Beware of political promises, especially when it comes to the economy.  History shows politicians have a bad track record when it comes to ‘saving’ the economy.  Sometimes they get it right in the short term, but when it comes to long term planning, forget it.  Long term should be considered 20 years plus, not ten years, or more commonly, 5 years or less.

Big news in economics involving the world and the United States.  Last week a U.S. economics professor was quoted, in the European media, as saying the world was “…partially decoupling,” from the U.S. economy (www.bloomberg.com).  What he meant, and what I’ve be warning about in discussions with acquaintances and relatives, is that the “developing economies” (which should no longer be called “developing”) have now reached a point where they do not need the United States to be economically viable.  Those countries include India, Brazil and China.

How many times has you’ve heard how the Chinese need the U.S. economy in order to continue growing?  Remember how much the U.S. is in debt to the Chinese?  Now, realize they no longer need us economically.  Uh oh.

In other economic news, the IMF (International Monetary Fund) has revised, downward, it’s expectations for U.S. economic growth in 2011 (www.imf.org).  Some reasons are the amount of debt owed by the government, and, that economic data coming from the U.S. is never as good as predicted, and in some cases it’s worse.

Here’s an example: Today it was revealed, in a CNNMoney.com article, that according to the U.S. Department of Labor, for the second year in a row, the overall unemployment numbers need to be increased.  They are saying that, so far this year, 366,000 job losses have not been counted.  It was revealed, earlier this year, that 902,000 lost jobs had not been counted for 2009.  Also, the uncounted job losses for 2010 will not be officially added to the 2010 unemployment numbers until February 2011 (you have to keep that in mind every time you hear the “official” numbers reported this year).  One analyst says it is common in a bad economy to underestimate job losses.  Another analyst says the current employment models (formulas for predicting trends, or figuring out what happened) are not working.  Oh really?

We, the people of the United States, are in a predicament that was created by the short term policies of our corporate and political leaders.  Some countries called “developing economies” (formerly known as third world) have not only caught up with us, they are leaving us in their dust.  When you vote this November do your homework.  Investigate the candidates and the issues.  We need not only a high quantity of voting, but a high quality of voting.

Business/Economics, Idaho, U.S.

Mental Health Decrease = Violent Crime Increase

A recent story in the Idaho State Journal showed that a random shooting, that took place at the end of September, may be linked to the state of Idaho ending health care coverage for people with certain mental disorders.

On September 27th, a man was shot outside a Pocatello, Idaho, coffee shop. He nearly died after losing 40% of his blood.  The shooter was a man who had not been on his mental health meds because the state cut off the funding.  The article showed there are other instances of violent behavior since the cuts took place.  One man, in court after assaulting his own house and car, was “suggested” by the local judge to get control of his mental problem (findarticles.com).  Hello? Isn’t that part of a ‘mental’ health problem?  They can’t control it without outside help, and many of them are not in a position pay for it.

This year Idaho lawmakers claim they saved taxpayers $9 million by cutting the mental health budget.  They also said, earlier in the year, that only people with private insurance would be dropped from state assistance.  Yet, I’ve read several recent articles that say, in actuality people without any insurance have been cut.  To give you an example of how insensitive lawmakers are; according to an article in the Idaho Statesman, State Representative Ken Andrus, a Republican from Lava Hot Springs, Idaho, said he considers the Pocatello shooting, by a man dropped from state help, to be an isolated case (www.idahostatesman.com).

Several mental health care professionals, here in Eastern Idaho, are warning that this is just the beginning of bad things to come.  The family of the shooting victim are outraged.

This reminds me of the Federal cuts for mental health care, pushed by President Ronald Reagan in the 1980s.  Instead of saving money, it cost more money in the long run, because of increased incarcerations, and lawsuits, due to resulting violent crime by people who were pushed onto the streets, and, went off their meds.  The difference between then and now is that then the government was trying to save money.  Now, there is no money.  The results will be the same.

Business/Economics, U.S.

Extra Long Receipts, saving paper?

When going to the store, even if it is just to purchase a few items, you are often faced at the end of your shopping trip with a long, very long receipt.  Gone are the days of simple receipts with a barcode at the bottom, company logo at the top, and you items purchased in the middle.  Surveys, coupons, even company bios can be found causing your receipt to grow.

This is what a receipt should look like.

Whether this is a good choice for the company financially, well, I don’t know.  I do know that it is a hassle for consumers, most of which don’t even read their receipts.  However, I can crunch some numbers.

On Amazon.com, I can buy 50 85 ft rolls of receipt paper for $18.29, which is 4250 ft.  Now, if the average receipt length I print is two feet, then I can print 2150 receipts at a cost of .8¢ a piece.  If I print an average receipt length of 8 inches, then I can print 6381.38 receipts at a cost of .2¢ a piece.  Of course there are some variables that can be involved, but this is to be used a static comparison.  The averages are not a number from any sort of study, simply made up as a comparison.

That may not seem like much, but for a very large retailer, that is a lot of money per week spent on paper.  Which, of course, could be potential jobs.  Maybe not very many jobs, but still jobs none-the-less.

There is hope, however.  Apple, Inc. has been asking if you would like the receipt emailed to you instead of a paper one since 2005.  Many store are following suit.  Also, some stores are starting to reduce the length of their receipts.  Alas, the store that aren’t cutting back on receipt length, are still complaining of running out of paper and their printers breaking all the time.

Here is a bit I personally would like to see on my receipts; percentage of the total an item cost, so I can see where I am spending the most.  This wouldn’t require a longer receipt, just a little number in the white space next to the item price.

Business/Economics, Idaho, U.S.

Idaho’s New Privatized Medicaid. Patient Care Falls, Company Profits Up.

“…Americans will not stand for privatization of the nation’s most successful programs.” This is what a critic of President Bush Jr. said back in 2007, regarding the privatization of Medicare, Medicaid and Social Security. I think the critic is uninformed because many states have already privatized some or most of their Medicaid programs. And there is plenty of evidence that shows it is not successful, at least for the recipients.

Idaho is one of the states leading the country in radical reforms to it’s Medicaid program. On June 7th, 2010, they contracted out the medical payment program of Medicaid to a California company called Molina. Payments were expected to restart July 1st. The Idaho Medical Association says some providers have been paid for only 1% of what they billed (yes, one percent). A small number of providers have been overpaid, to the sum of $1 million. Most health care providers get a message stating “pending hold”. At the same time, Molina is reporting a net income of $10.6 million for the 2nd quarter of this year. $5 million of that coming from their Medicaid unit, know as Molina Medicaid Solutions.

Idaho had another contractor running Medicaid payments, for 30 years. Then the state decided to get a new contractor, one that could provide more flexible technology. Is that new lingo for cutting services?

Molina initially blamed the payment issue on it’s computer program, but, then in August, said it was because they were understaffed. The state is also being blamed by some critics for intentionally holding back claims until the Molina takeover.

Some providers say they’re getting the “pending hold” message because Molina’s program is designed to take care of people with secondary insurance first. Patients with no secondary insurance seem to be stuck in limbo under Molina’s system.

The Idaho government shares some of the blame, of course. On top of hiring the new contractor, the state wants to cut Medicaid funding by $22 million. I can’t help think that the cuts have something to do with this Medicaid payment fiasco.

Now, Idaho has contracted out the dental care program of Medicaid. The contractor, DentaQuest, has been given the green light to cut 150-200 providers from the program (in Idaho that’s a lot). The changes go into affect on November 1st. Several East Idaho dentists said it could force people with serious dental problems into hospital emergency rooms. Also, according to Dr. Justin Bell of Idaho Falls, DentaQuest is reducing compensation to .30 cents for every dollar of care. Dr. Bell thinks this will force dentists to stop taking Medicaid.

Here’s a couple of questions: If Americans don’t want privatized Medicare, Medicaid or Social Security, where is the protest?

Also, what’s the use of the Federal Health Care Reforms if states are making up their own reforms?

Business/Economics, Idaho, U.S.

Food Crisis: Idaho Hit by Crop Diseases


This afternoon, after a long awaited rain finally hit (possibly redeeming local weather forecasters), I discovered that my small plot of maize is suffering from an infestation of Smut. In researching this Smut I discovered that Idaho grain farmers are facing a new disease potentially more harmful, because it is attacking wheat & barely as well as corn.

Smut infected corn kernel. Some South Americans eat this.

Smut is a common corn fungus. It looks almost like the maize had been popped right in the husk. It’s nasty looking, the puffed corn kernels turning black as the fungus progresses. According to some sources, South Americans like to eat the young Smut galls as a delicacy.

I’ve grown maize for several years now, changing the location in my backyard field every year, but I’ve never had this problem. Turns out that weather plays a big role in the growth of Maize Smut. The weather factors are; cooler than normal temperatures, and dryer than normal conditions during the growing season (ipm.illinois.edu). That’s exactly what we’ve had this year in South East Idaho.

Maize Smut, Chubbuck, Idaho.

This is no problem, corn Smut shouldn’t cause a food crisis. But, in my research I discovered that, for the first time, the Pacific Northwest is being hit by a crop disease that attacks maize, wheat & barely. Earlier this year it was discovered in the Magic Valley of Idaho.

It is a type of Fusarium (not associated with Corn Smut), a fungus that is common in soil, but this particular version is dangerous to crops, and people. The Soviet Union actually developed a strain of Fusarium into a biological weapon during the Cold War (en.wikipedia.org).

According to the University of Idaho, Idaho is getting hit with this strain because of increased corn production (thank you ethanol). After the maize is harvested, Fusarium hangs around in the soil, attacking any wheat or barley planted in the same field. The U of I recommends not planting other grain crops in the same field that corn was grown. Also, plow under the field and spray with fungicides. As with Smut, cooler than normal temperatures promote Fusarium growth. (www.capitalpress.com)

Just one more concern over the coming food crisis.

Business/Economics, Idaho, International, Opinion, U.S.

Europeans Strike! Who Cares About Terrorism?

Europeans were told that a Mumbai style terrorist attack in Europe was foiled, do they care? Hell no! Why? Because, according to strikers in Latvia, people are dying because of the drastic measures undertaken by their government to deal with their crashing economy. In other words, Europeans are more afraid of their governments than random terrorists.

Today, people in France, Spain, Belgium, Ireland, Greece and several other countries not mentioned in U.S. media, went on strike. What happened to the economic recovery? A former European Union commissioner is quoted as saying “The party is over…”. European governments want even more drastic belt tightening, increasing the burden of paying for the partying of political and business leaders upon the average European taxpayer. No wounder Europeans are outraged.

Is this a sign of pending doom for the U.S. recovery? The same caca del toro is happening with our leadership here in the U.S. Where are the mass strikes? Are we so afraid of our leadership that we’d rather continue playing along with their war on terror game?

The real terrorism is being waged on the average U.S. worker, by corporate America and their puppets; our political leaders. Let me give you an example: When my son was 17 he got a job working for a movie theater here on the east side of Idaho. His first two weeks he put in 90 hours. We though he was going to get overtime pay, nope, not under the Fair Labor Standards Act. According to the Idaho Department of Labor, movie theater employees are number 5 on the list of jobs exempted from overtime pay.

We also learned that Idaho employers do not have to provide breaks under Idaho state law. My son was told that he would be fired if he was caught taking a break or eating, even when he worked 8-9 hour shifts. Here is what Idaho says: “IDAHO LAW DOES NOT REQUIRE
1. vacation, holiday, severance or sick pay;
2. a discharge notice or a reason for discharge;
3. rest periods, breaks, lunch breaks, holidays
off or vacations;
4. premium pay rates for weekends or holidays
worked;
5. pay raises or fringe benefits; or
6. a limit on the number of hours an employee
can work per day or week for employees 16
years of age or older.”

Visit labor.idaho.gov

Wake up America!

Opinion, U.S.

Issues with the U.S. education system, and how to fix them -Opinion

The United States has been facing an education crisis for the past 10 years, getting worse, and worse.  Now, 2010, many are thinking of ways to fix the education system.  However, most arguments are for one of three probable issues; techers, students, or administration.

Teachers

From my experience in school, more and more of the good teachers are getting fired, retiring, or quitting.  These teachers mostly get replaced with teachers that either care less about teaching, and more about their paycheck, or are very opinionated in their teaching.  There are the good teachers, those who know what they are teaching, how to teach it, and keep their own personal views and life outside of school, out of the classroom.  Then there are the bad teachers, who like to add their own view, talk about their personal life while teaching something, don’t know or care about what they are teaching, don’t know how to teach what they are teaching.

Students

While I was in school, most of the students with me seemed to care about their studies, and tried to get good grades.  Even those who didn’t want to be in school, tried to get at least D’s.  However, there were those who frankly didn’t care.  They didn’t care either because of drugs, laziness, or even, they were so rich, they didn’t ever have to have a job.  I don’t see this as an issue in the education crisis.

Administration

This is a big one I have seen.  Rules are set in the aspect of money, not how well the teacher can teach with that rule in effect.  Administrators get paid too much.  When the superintendant of one school district gets paid more than the governor of the state, there is money getting thrown away that could be spent for education.  Administration does not have to do what a teacher does, their work is much simpler.

How to fix it all

First off, teachers need to be taught how to teach in the real world, not like how one of my high school teachers told me, “…they told me that the students are craving for someone to teach them, and they come to school ready to learn.”

This is obviously not the case.  Teachers also need to know how to teach their subject, and care about that subject or teaching for that matter.  More time needs to be spent teaching the information, and not review the past year, or “teaching how to learn”.  Teachers also must not get mad at a student for being an open atheist, or dressing a way the teacher does not like.  Teachers are there to teach a specific subject.  If the teacher is teaching “how to be like the majority of the populous” or “Ethics”, then fine, but in math, who cares what the student is wearing or thinking.

Administration needs to be reduced, drastically.  Administration came into the picture in the mid to late 20th century.  We got along just fine without it.  That is basically it for Administration.  More power to the teachers.

U.S.

Don’t Ask, Don’t Tell Repeal Fails

WASHINGTON - MARCH 18: People sign their names during a rally in support of a repeal of the 'Don't Ask, Don t Tell' policy March 18, 2010 at the Freedom Plaza in Washington, DC. The policy is currently under review by the Pentagon and Democrats in the House and the Senate have unveiled legislation to repeal the policy. (Photo by Alex Wong/Getty Images)

While it was not a bill itself, the defense funding bill failed to get the required 60 votes to pass Tuesday.  Although it had majority support, many senators voted against the bill because it had too many amendments.

“…I cannot vote to proceed to this bill under a situation that is going to shut down the debate and preclude Republican amendments,”  Senator Susan Collins (ME – R.), a supporter of repealing Don’t Ask, Don’t Tell.  Collins was the only Republican to vote to put the repeal of Don’t Ask, Don’t Tell in the defense bill.

More than 3/4th’s of Americans support the repeal, even Senator John McCain’s (AZ – R.) wife and daughter support it.  One of the more popular supporters is Lady Gaga, who rallied in Maine on Monday in an attempt to get the two senators to vote for the defense bill.