Year: 2008

Charlie’s IEP Meeting

Well, Charlie had an individualized education plan (IEP) meeting today.

There is consensus, that he should be moved from Forbush, a private placement to Chatsworth, which is in the public school system.

Charlie is on the Autism Spectrum (Aspergers), but he’s also talented and gifted, he rates at least a grade above his age in reading and math, and Forbush, with its focus on the more severely disabled, has difficulties in providing sufficient enrichment.

The problem is that Chatsworth is still building its Aspergers program, and he would be the only person at his level in the class if he moved in the next month, and since his issues, except for hand writing, are with social interactions, and not academics, he would either be alone, or in a class of 20+ other students (with an aide) if he went over now, so we are suggesting that it be done in September, while BCPS wants it sooner (they are paying for Forbush, which is expensive).

At this point, they want to update some of his tests, so that they can make sure that he is in a properly challenging situation, as he is scary smart.

It looks right now like he will be doing some more visits to Chatsworth to see how he handles everything.

One thing disturbed me at the meeting. His teacher looked so young. When did that happen? Teachers used to be older than me.

How to Fix the Economy

You know the drill. Credit Crises, housing crash, dollar at all time low.

Then we have Sam Zell, media mogul and drooling moron, saying that the reason that the exonomy is tanking is because Obama and Clinton are talking it down in their campaigns (H/t Will Bunch of Attytood).

Zell has it wrong. The savior of our economy is politics. With Clinton raising $35 million in February, and Obama having raised even more money, campaign spending is the only stimulus package out there.

If we have a contested convention, between the money spent on pundits, feting super-delegates, and advertisements, we should have full employment.

(please note snark tag)

Economics Update: Housing Edition

There is a lot of news, so this one is just housing.

Mortgage rates are climbing, despite the Fed rate cuts. As I’ve said before, with the expectation of inflation and greater risk of defaults, there is nothing that the Fed can do to keep the rates down.

It does not help that Standard & Poors is looking at cutting ratings on new tranches of mortgage backed securities, this time Alt-A, to the tune of 1,887 classes, which are supposed to be higher quality than subprime.

In the San Diego area home prices are in free fall, having fallen 3% last month, and 9.14% in the last three months.

Finally, we are beginning to see foreclosure self help websites. The link is “You Walk Away” dot com.

Austan Goolsbee Fingered as NAFTA Contact In Obama Campaign

So reprots CTV News.

There are three possibilities.

The first is that these discussions never happened, in which case both Obama and Goolsbee deserve an apology.

The second is that Goolsbee did talk to the ambassador with the approval of the campaign, in which case everyone in the campaign deserves a dope slap and a severance notice.

This would be unnecessary and stupid, and I do not think that the members of Obama campaign are that stupid. (If they are, then they deserve to lose)

The third possibility is that Goolsbee decided to do this unofficially on his own.

If that’s the case, he needs to be dropped in an ostentatiously public manner, because you can’t afford to have someone freelancing like this on policy or diplomacy.

I do know that Mr. Goolsbee has occasionally read my blog, so if he wants to make a statement, I will post it unedited.

Economics Update

We have bad news on income and spending. If you go to the link it says that they are both up slightly, 0.3% and 0.4% respectively, but this is less than inflation, which means that it is a real drop.

We also have oil at or near all time highs, and the dollar at or near all time lows.

We have a new estimate of total losses among financial firms from the meltdown, $600 billion. I think that they are off by at least one zero.

Insurance is continuing to unwind in a most unpleasant manner.

MBIA is not doing much in the way of business, because bond issuers don’t trust them to be solvent in the future.

Perhaps of more concern is that this is beginning to effect the reinsurance market, with Swiss Reinsurance Company posting an 87% drop in profits.

If this market goes south, it takes most of the insurance market with it.

Of course, we have the Fed shoveling out more money to the investors. It will auction off another $60 billion in March.

I don’t even want to think what the money supply is doing right now.

The credit crunch is also interfering with things like reorganizations, with Delphi unable to find the loans necessary for it to reorg under bankruptcy.

Finally, earnings fell across the market, with the S&P 500 companies’ earnings falling 4.2%, as opposed to the 10% increase forcast at the beginning of 2007.