Hot topic of next Fed chair not on program at Jackson Hole
Hot topic of next Fed chair not on program at Jackson Hole
JACKSON HOLE, Wyo. — This year’s gathering of the world’s central bankers had a theme as lofty as the Grant Teton...
JACKSON HOLE, Wyo. — This year’s gathering of the world’s central bankers had a theme as lofty as the Grant Teton Mountains which loomed over their meeting place — “Fostering a Dynamic Global Economy.”
But while many hours were devoted to sitting in a windowless conference room dissecting the symposium’s academic papers on how to bolster lackluster global growth, one hot topic was not on the program — who will President Donald Trump nominate to be the next leader of the Federal Reserve once current Chair Janet Yellen’s four-year term is up next February.
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Longtime legal residents aim for citizenship
Longtime legal residents aim for citizenship
Somos was one of 14 organizations nationwide to win the nonpartisan grant from Cities for Citizenship, a national...
Somos was one of 14 organizations nationwide to win the nonpartisan grant from Cities for Citizenship, a national initiative aimed at increasing citizenship among eligible U.S. permanent residents and encouraging cities to invest in citizenship programs. The organization site says it is chaired by New York City Mayor Bill de Blasio, Chicago Mayor Rahm Emanuel, and Los Angeles Mayor Eric Garcetti, with support from the Center for Popular Democracy and the National Partnership for New Americans. Citi Community Development is the founding corporate partner.
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The Fair Workweek Initiative Takes on Abusive Scheduling Practices on Aljazeera America
Aljazeera America - July 24, 2014 - The Center for Popular Democracy's Fair Workweek Initiative Director Carrie Gleason...
Aljazeera America - July 24, 2014 - The Center for Popular Democracy's Fair Workweek Initiative Director Carrie Gleason joins Aljazeera America to discuss how unfair work scheduling impedes low-wage workers from dignity and justice on the job.
Jackson Hole Summit To Provide Forum For Policymakers Amid Market Turmoil
Also getting under way at the lodge is a protest conference organized by the Center for Popular Democracy, a liberal...
Also getting under way at the lodge is a protest conference organized by the Center for Popular Democracy, a liberal group that has been cajoling the Fed to hold off on raising interest rates. Some researchers, for example, argue that “core inflation” – which strips out food and energy prices and is often used by bankers as their preferred gauge – may be less relevant in a world where futures contracts, global shipping and worldwide trade help even out retail level price swings for some of those goods.
Some analysts have also said that globalization has been a factor in holding down U.S. wages and prices even at times of solid growth.
When the Fed met in June, US oil prices had recovered to over $60 a barrel, and there had been a belief that we’d seen the lows.
Inflation has been a concern for the Fed, as it has been running well below its 2 percent goal and some signs have indicated that it may fall further. London Business School professor Lucrezia Reichlin is the discussant. Yet the theory is still a useful framework to think about monetary policy. This year central bankers, finance ministers, academics and financial market participants will chewing over why inflation is so low, whether this is unsafe and what they can do about it. Investors have cut the probability of a move at that gathering to 28 percent Tuesday from 48 percent on August 18 based on trading in fed funds futures.
They confront a big disparity between the world’s two largest economies, the U.S. and China.
China’s stock market is swooning and its economy slowing.
Goldman Sachs economists wrote Wednesday that they “expect liftoff in December, and see the recent market sell-off as another argument against a hike in September“.
U.S. counterparts will experience both advantages and disadvantages if their currencies behave according to textbooks and their currencies weaken against the dollar if the Fed raises rates.
Dudley said a final decision would reflect how the market acts over the next few weeks, as well as the end-of-montheconomic data.
The absence of Yellen and Draghi has lowered expectations for a major policy announcements at Jackson Hole.
The official roster of attendees at the invitation-only event included Fed Vice Chairman Stanley Fischer and Fed governors Lael Brainard and Jerome Powell, and presidents from eight of the 12 regional Fed banks. “So you look around the world and ask who can take up the slack, and really the answer is nobody”, said Kevin Logan, chief U.S. economist at HSBC Securities, in New York.
The opening session at 10 a.m. Eastern will examine a paper on “Inflation dynamics though firms’ pricing behavior” by Simon Gilchrist, a professor at Boston University and Egon Zakrajsek, an associate director for monetary affairs at the Fed Board of governors.
The vice chairman is considered extra inclined than Yellen to boost charges prior to later, so his statements might make clear how the talk contained in the central financial institution might transpire when officers meet September 16 and 17.
Source: Rapid News Network
Voting rights restored to 40,000 Marylanders
Source: ...
Source: The Baynet.com
The Maryland General Assembly overrode Governor Larry Hogan’s veto today on a bill that restores voting rights for approximately 40,000 Maryland citizens who live in their communities but were barred from voting because of a criminal conviction in their past. The law will go into effect on March 10, 2016 allowing all former felons who are out of prison to register and vote in Maryland’s upcoming April local and federal primaries.
Maryland law withheld the right to vote from individuals until they fully completed every requirement of their sentence, including those beyond incarceration, like probation and parole supervision. SB 340/HB980, introduced by Sen. Joan Carter Conway (D-Baltimore) and Del. Cory McCray (D-Baltimore), simplifies the process by allowing an individual to become eligible to vote upon release from prison or if they were never incarcerated.
After the law takes effect on March 10, affected Marylanders will have until April 5 – less than a month -- to register to vote in the April 26 primaries. New voters can also register through same-day registration during the early voting period of April 14 – 21. There will be at least 59 early voting centers throughout the state.
The bill was championed the Unlock the Vote coalition, led by Communities United with Out for Justice, the ACLU of Maryland, Common Cause Maryland, Maryland Working Families, MD State Conference of the NAACP, Maryland League of Women Voters, 1199SEIU United Healthcare Workers East, SEIU Local 500, SEIU 32BJ, SEIU Maryland & DC State Council, Prison Ministry Task Force of the Episcopal Diocese of Maryland, the Job Opportunities Task Force, the Center for Popular Democracy, Brennan Center for Justice, the Sentencing Project, the National NAACP and the NAACP National Voter Fund, Communication Workers of America, SAVE Our Votes, Colorofchange.org, People for the American Way, the Democracy Initiative, the American Probation and Parole Association and Common Cause.
“The Maryland General Assembly has opened up our democracy to the thousands of Marylanders who have returned home from prison and now have the right to vote. I know from experience that this legislation will have a powerful impact on our lives and in our communities,” said Perry Hopkins, a formerly incarcerated citizen and organizer with Communities United. “From the minute you are released from prison, you pay taxes, you are working to reintegrate back into society in a productive way and you deserve the full rights of citizenship. It’s just that simple. And today the Maryland General Assembly did the right thing and restored our rights.”
“Today’s override is a huge step forward for voting rights in Maryland. Governor Hogan suppressed the vote for an additional eight months with his veto so our next challenge is to quickly educate and register voters for the upcoming April 26 local and federal primaries” said Jane Henderson, executive director of Communities United. “Because of the confusing nature of the previous law, there is a lot of misinformation about if and when those with felonies can register and vote. We want all former felons to know that if you are home, you can vote. We have a short window of opportunity in March to reach and register newly enfranchised voters – whether in church, on the job, at recovery centers, at parole offices or in our neighborhoods – and we call on civic, civil rights and religious leaders to help us to reach these 40,000 newly enfranchised citizens."
“This is a victory for civil rights that comes at a critical moment for our state and our nation,” said Gerald Stansbury, President of the Maryland State Conference of the NAACP. “Today 40,000 Marylanders who have been locked out of the process by an unfair law and an unjust criminal justice system have regained a fundamental right of citizenship, the right to vote. The majority of citizens regaining their voting rights are African American and it has never been more important that their voices are heard in local government, the halls of the State House and by our federal representatives. I am grateful to the Maryland General Assembly for restoring the right to vote.”
“Democracy is on the march in Maryland. The Maryland General Assembly’s vote to restore the right to vote of more than 40,000 ex-offenders comes at a critical time for our democracy,” said Emma Greenman, Director of Voting Rights and Democracy at the Center for Popular Democracy. “Over 50 years after the passage of the Voting Rights Act, nearly 5.8 million Americans remain shut out of the democratic process because of a criminal conviction. Today Maryland unlocked the vote for folks reintegrating into their communities and lifted up their voices in our democracy.” “We’re seeing growing national momentum for voting rights restoration, and Maryland is the latest place to join in on this trend,” said Tomas Lopez, Counsel at the Brennan Center for Justice at NYU School of Law. “This legislation will give 40,000 Marylanders a second chance.”
The measure builds on recent bipartisan support for rights restoration around the country. Last year, U.S. Attorney General Eric Holder called on states to restore voting rights. Supporters from across the political spectrum have introduced bills in Congress to restore rights, including the Civil Rights Voting Restoration Act of 2015 from U.S. Sen. Rand Paul (R-Ky.) and the Democracy Restoration Act of 2014 from U.S. Sen.Ben Cardin (D-Md.) and U.S. Rep. John Conyers (D-Mich.).
Over the past two decades, more than 20 states have improved their criminal disenfranchisement laws, including Maryland, which ended lifetime disenfranchisement in 2007. Like similar laws elsewhere in the United States, Maryland’s criminal disenfranchisement law has disproportionately impacted racial minorities. It is estimated that African Americans have comprised more than half of Maryland’s disenfranchised population. When the rights restoration bill becomes law, Maryland will be the newest addition in the national movement to restore voting rights to people who are released from prison, joining 13 states and the District of Columbia.
Fed's Bostic to Hear Case for Excluding Housing From Inflation
Fed's Bostic to Hear Case for Excluding Housing From Inflation
Federal Reserve Bank of Atlanta President Raphael Bostic will hear the case for excluding housing from measures of...
Federal Reserve Bank of Atlanta President Raphael Bostic will hear the case for excluding housing from measures of consumer prices that the U.S. central bank targets when he meets this week with Fed Up, an advocacy group focused on monetary policy.
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Immigration Advocates Applaud Mayor Bill De Blasio’s ID Card Plan
CBSNew York - February 11, 2014 - Undocumented immigrants and their supporters are cheering Mayor Bill de Blasio’s plan...
CBSNew York - February 11, 2014 - Undocumented immigrants and their supporters are cheering Mayor Bill de Blasio’s plan for creating city identification cards this year. But, as WCBS 880′s Alex Silverman reported, they also want to make sure New York gets it right.
During his State of the City address Monday, de Blasio vowed to make municipal ID cards available to all residents in 2014 regardless of their immigration status, “so that no daughter or son of our city goes without bank accounts, leases, library cards, simply because they lack identification.”
“To all of my fellow New Yorkers who are undocumented, I say: New York City is your home, too, and we will not force any of our residents to live their lives in the shadows,” he said.
Aracely Cruz said she’s been waiting 10 years to hear a promise like de Blasio’s.
“I face fear every day,” she said. “I don’t trust anybody.”
Cruz was among the immigration reform proponents who gathered at a news conference Tuesday in lower Manhattan. Also in attendance were a mother who wants the freedom to walk into her child’s school and a day laborer who says he has spent 15 years in Queens with nothing to show to prove he’s part of the city.
City Councilman Carlos Menchaca, D-Brooklyn, head of the Immigration Committee, said members are drafting a bill to create the cards and plans to hold a hearing on the matter within the next month.
“We’re not going to wait for a federal government to give us reform,” he said.
“We’re tired of Congress failing us and failing our families,” said Linda Sarsour, executive director of the Arab American Association of New York. “And what we do in New York is we don’t wait for Congress.”
One concern advocates such as Steve Choi, executive director of the New York City Immigration Coalition, have is “we have to make sure we are ensuring trust, that the city agencies, such as the library and the police, are able to really accept these municipal ID cards without fear that folks are going to be branded somehow.”
Brittny Saunders, a lawyer with the Center for Popular Democracy, said other cities have created an incentive for citizens to also obtain the cards ”by connecting up these IDs with discounts at local businesses.”
Donna Lieberman, executive director of the New York Civil Liberties Union, agreed the ID cards should be used for all New Yorkers, not just undocumented immigrants.
“I, for one, intend to get a municipal ID because I want to use the ID that’s accessible to all New Yorkers,” she said.
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How Cities’ Funding Woes Are Driving Racial and Economic Injustice—And What We Can Do About It
The Nation - April 28, 2015, by Brad Lander & Karl Kumodzi - In August 2014, the municipality of Ferguson, Missouri...
The Nation - April 28, 2015, by Brad Lander & Karl Kumodzi - In August 2014, the municipality of Ferguson, Missouri erupted onto the national scene. In the wake of the killing of Michael Brown, we learned much about economic and political life in Ferguson and greater St. Louis County.
To many, it was no surprise to learn that, for years, African-American residents of municipalities throughout St. Louis County have been disproportionately and illegally stopped for minor offenses. Blacks are far more likely to be stopped, searched, ticketed, fined, and arrested. Many wind up jailed, leading to a cycle of lost jobs, drivers’ licenses, homes, or child custody. Some are beaten, terrorized, or—like Michael Brown—even killed.
It was more surprising to learn that in Ferguson, “Driving While Black” isn’t only about racial profiling: it’s also about municipal revenue. Fines and court fees have become the city’s second largest revenue source, and the over-criminalization of Black people has become a strategy for collecting taxes.
It is important to understand and address the revenue crisis facing U.S. municipalities. As cities have become unable to pay their bills, they often turn to regressive strategies that disproportionately harm people of color and low-income residents.
Ithaca, NY is like Ferguson. Up until January 2014, residents had to pay for installations and repairs of public sidewalks adjoining their properties—with one notable case in which 28 homeowners were forced to pay a combined $100,000 out of their personal pockets to the city for repairs. Detroit, MI is like Ferguson. After the city filed the largest municipal bankruptcy in US history, the city’s water department responded to pressures to lower their $90 million portion of the overall $20 billion debt by shutting off crucial water services to mostly Black low-income residents who owed over a mere $150 on their water bills. This April, Baltimore followed Detroit’s lead.
These cities are like Ferguson because of a common underlying problem: All across America, cities and towns are struggling to maintain enough revenue to provide crucial services to residents. The collateral damage of this revenue crisis—over-criminalization, utility shut-offs, the withdrawal of public services, and slashed budgets for schools—is dire.
Local Progress, a national network of progressive municipal elected officials, is working to address inequality from an often overlooked source: municipal budgets. In our new report, Progressive Policies for Raising Municipal Revenue, Local Progress lays out forward-thinking strategies and policy options that cities can pursue to restructure their revenue streams in a way that doesn’t fall disproportionately on the backs of their most vulnerable residents.
The roots of the municipal revenue crisis were decades in the making. Following the post-war desegregation of housing and education, and other civil rights victories of the 50’s and 60’s, racial animosity and the conservative backlash against taxation—referred to by historians as the tax revolt—helped to fuel the exodus of higher-income families from urban centers to suburban enclaves.
This “white flight” dramatically eroded the tax base of urban centers like Detroit, Cleveland, and St. Louis—and later of first-ring suburban municipalities like Ferguson.
The tax revolt also led directly to policies that dramatically reduced the ability of cities to collect enough revenue through property and other taxes. Most dramatic was the 1976 passage of Prop 13 in California, which contributed heavily to the erosion of California’s public education system and other public services.
In 2008, the Great Recession caused the municipal revenue crisis that had been brewing for decades to explode, spurring significant and rapid declines in general fund revenues for municipalities. In order to deal with the impacts of this dramatic shortfall, cities were forced to cut personnel, cancel capital projects (and their much-needed jobs), and slash funding for education, parks, libraries, sanitation, and more. These cuts hit low-income families the hardest. And they are especially harmful to Black families because African-Americans are 30 percent more likely to be employed by the public sector than other workers.
The strategies that many municipalities adopted to address the crisis hit low-income people of color the hardest. When property tax revenue declined in St. Louis County, fines-and-fees revenue increased in order to maintain revenue. Tickets are issued for everything from failure to cut one’s lawn to sleeping over at someone’s house without being on the occupancy certificate. In nearby Edmundson, the city averages $600 per person per year in court fines, and forecasts increasing revenue from these fines in their future budget proposals – essentially creating a hidden tax on the most vulnerable residents. Black residents throughout the region report feeling “as if their governments see them as little more than sources of revenue.”
Many towns have resorted to privatizing formerly public responsibilities such as trash collection, sewage, roads, parks, and introducing new fees to force residents to foot the bill directly. These fees and taxes are often extremely regressive, because as everyone is forced to pay a flat rate, poor people end up paying a higher percentage of their income. A recent study conducted by the Institute on Taxation and Economic Policy found that the nationwide average effective state and local tax rates are 10.9% for the poorest fifth of taxpayers and 5.4% for the wealthiest 1 percent. In fact, in the ten states with the most regressive tax structures, the poorest fifth pay as much as seven times the percentage of their income in taxes and fees as the wealthiest residents do.
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Addressing the municipal revenue crisis is, therefore, a central barrier to achieving racial and economic justice in our urban centers, and to rebuilding a more democratic, just, and livable America with genuinely shared prosperity.
Luckily, there are creative and progressive strategies that municipalities can adopt to generate more revenue in a progressive way, such as:
● Expanding the progressivity of existing local income taxes by creating more tax brackets with greater differences between brackets, and doing the same for property taxes in order to generate more revenue from commercial and high-end development.
● Eliminating corporate tax breaks at the city level, particularly Tax Increment Financing and business improvement districts that come with tax breaks
● Restructuring fines so that residents pay different rates based on income. A $200 traffic ticket has no deterrent effect for a millionaire, but can be devastating for a low wage worker; a more rational fine system, like the one adopted in Finland, would be more fair and generate more revenue.
● Mandating that major tax-exempt institutions like hospitals and universities make genuine and fair payments in lieu of taxes (PILOTs) to help cover the costs of crucial city services that they use.
● Converting city services into municipality-owned utilities when possible, charging utility fees to all users, and applying conservation pricing so lower-income households pay a lower rate while bulk users—such as commercial and industry—pay higher rates
● Forming statewide coalitions of municipal elected officials, grassroots organizations, school boards, and other affected parties to change preemption and revenue policies at the state level.
These policy innovations and many more are detailed in our report.
Cities are America’s bedrock and its future: both for our country and for the progressive movement. Cities are home to 67% of the population, account for 75% of our GDP, and house our best public institutions and infrastructure.
The policy recommendations laid out by Local Progress in our new report can help municipalities develop progressive revenue solutions—so they can pay for public education, health, and housing programs that help families thrive, invest in the infrastructure of public transportation, climate resilience, parks that sustainable cities need, and stimulate inclusive economic growth that creates good jobs.
Through progressive revenue strategies, cities can turn the Ferguson-like cycle of disinvestment and inequality into a cycle of reinvestment and opportunity—and help make sure that our cities can become the models for our vision of a more progressive and prosperous America.
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$20 Million severance fund started for Toys R Us workers
$20 Million severance fund started for Toys R Us workers
A campaign supported by the advocacy groups Center for Popular Democracy and Gleason's group applauded the move in a...
A campaign supported by the advocacy groups Center for Popular Democracy and Gleason's group applauded the move in a news release as "the first important step in ensuring that Toys R Us employees who lost their livelihood receive the support they were promised."
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Beware the Soros zombies
Beware the Soros zombies
They’re headed to the Republican convention with a mission to disrupt and distract Billionaire George Soros has funded...
They’re headed to the Republican convention with a mission to disrupt and distract
Billionaire George Soros has funded liberal organizations intent on bringing confusion, disarray and trouble to the Republican National Convention in Cleveland next week.
And they’ve already had some victories.
Civil rights group Color of Change — which Mr. Soros gave $500,000 to in his Foundation’s latest tax return — collected more than 100,000 signatures on a petition to demand Coca-Cola and other companies withdraw their support from the convention. The petition that featured a Coke bottle with the label, “Share a Coke with the KKK.”
Color of Change was joined by UltraViolet, another Soros-backed women’s rights organization, in the petition, an effort to amplify their collective voice against the GOP.
And it worked.
Coca-Cola caved to the pressure and decided to give only $75,000 to the convention, compared to the about $660,000 it gave in 2012. Other corporate sponsors were scared off. To demonstrate how extreme Color of Change’s political ideology is, it’s latest campaign is to defund America’s police forces that “don’t defend black lives.” Its social media feeds give no reference to the five men in uniform who lost their lives in Dallas.
But I digress. Let’s get back to the liberal mischief aimed at the Republican convention.
Brave New Films, which received $250,000 from Mr. Soros‘ foundation, tried to make waves for Republicans by creating misinformation about their convention through social media.Brave New Films is a social media “quick-strike capability” company that uses media, films, volunteers and internet video campaigns to “challenge mainstream media with the truth, and motivates people to take action on social issues nationwide,” according to its website.
In a Facebook posting, Brave New Films bragged about driving a fake internet campaign — a petition to allow for open carry at the convention — into the mainstream media. The petition was reported on as if Republicans wanted it, however, it was simply created by a liberal, Soros troll.
“And the 2016 internet Troll Of The Year Award goes to some genius from Ohio using pseudonym: the Hyperationalist,” Brave New Media wrote on their Facebook page, congratulating the original scammer. “When Washington Post and other mainstream media write about your act in a serious way — you won. Respect!”
“For the record: we are proud that we helped a bit, delivering over 30,000 clicks to the original petition,” Brave New Media added.
Deceit and lies — that’s what these groups are up to — and they’re using the mainstream media as their pawns.
MoveOn.org is also planning activity. They proudly took responsibility for shutting down Mr. Trump’s rally in Chicago in March, and fundraised off their success.
MoveOn is organizing a “National Doorstep Convention” that runs parallel to the GOP’s convention where members plan on going door-to-door in Ohio and other states to urge voters to “reject the politics of hate sown by Donald Trump and the GOP.”
The group’s been quiet about their plans for actual protests at the convention, but we can bet they’ll be involved. On Wednesday MoveOn urged its members in an email to sign the “Movement for Black Lives Pledge,” being circulated by Black Lives Matter activists, calling Mr. Trump a “hatemonger.”
“Donald Trump just blamed Black Lives Matter and President Barack Obama for ‘dividing America’ by calling to put an end to the police brutality that claims so many Black lives in our country,” the email read. “This is just another flat-out lie to add to Trump’s long list.”
Again, no mention of the five officers shot in Dallas. But again, I digress.
Last weekend, the Center for Popular Democracy (CPD), a progressive organization that was given $900,000 by Mr. Soros’s Foundation, held a People’s Convention in Pittsburgh, to organize social justice movements ahead of the political conventions both in Cleveland and Philadelphia.
The conference included Black Lives Matter organizers, those campaigning for immigration reform, the Fight for $15, LGBTQ rights, and environmental justice activists. It’s purpose was to give them the tools to communicate and engage with one-another’s campaigns to amplify their collective voice.
“We are beginning to launch a real national organizing framework — that’s something that really hadn’t been seen since ACORN went under,” Jonathan Westin, executive director of New York Communities for Change told the American Prospect of the conference.
That’s right, Mr. Soros is actively working to build another ACORN.
But back to Cleveland.
The ACLU — which Mr. Soros‘ gave $1.7 million to in his latest filings — won a lawsuit on behalf of anti-Trump protesters to both expand the area of their protests and allow people to make speeches inside the event zone in locations other than the free speech zone designated by the city.
Professional protesters like CodePink have filed for demonstration permits, along with lesser known anti-Trump groups. CodePink helped stir the chaos at the California Republican convention in April.
On opening day, a “Dump Trump” march was planned, with about 50 left-wing groups committed, and activists have been promising on social media to descend upon the city to make their voices heard.
Republicans beware, for the Soros zombies are coming and they’re well funded and organized.
By KELLY RIDDELL
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5 days ago
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