News: Real Estate, Risk, Economics. Sept. 8, 2016

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Table of Contents
(Click to sections below.)

1) VIDEO: Dakota Access Pipeline Company Attacks Native American Protesters with Dogs and Pepper Spray | Democracy Now!

2) Watertown Daily Times | St. Lawrence County auctioning 153 properties foreclosed for unpaid property taxes

3) Economic Czars Warn G-20 of Risk From Populist Backlash on Trade – Bloomberg

4) 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don't)

5) The euro disaster — Wynne Godley was spot on already back in 1992! | LARS P. SYLL

6) Flooding of Coast, Caused by Global Warming, Has Already Begun – The New York Times

7) Union decline lowers wages of nonunion workers: The overlooked reason why wages are stuck and inequality is growing | Economic Policy Institute

8) Time to reinvent labor for the 21st century: We don't need the unions of yesterday – Salon com

9) How artificial intelligence will augment the typical North American city of 2030

10) City launches push to raze, rehab problem properties | News | eagletribune com

11) Danville council OKs purchase of dilapidated properties | News-Gazette com

12) US Services Industries Expand at Weakest Pace in Six Years – Bloomberg

13) Is Pushing Unemployment Lower A Risky Strategy? – Tim Duy's Fed Watch

14) BlackRock Says Investors Must Weigh Climate Change Like Insurers Are Doing

  1.    VIDEO: Dakota Access Pipeline Company Attacks Native American Protesters with Dogs and Pepper Spray | Democracy Now!

    This is a very intense video. It is laced with obscenities, but many might rightly see the pipeline as the worst obscenity.

    On September 3, the Dakota Access pipeline company attacked Native Americans with dogs and pepper spray as they protested against the $3.8 billion pipeline's construction. If completed, the pipeline would carry about 500,000 barrels of crude per day from North Dakota's Bakken oilfield to Illinois.

    In the face of Anthropogenic Global Warming causing more and more climate and weather disruption and damage, why is it governmental policy to approve more of that which is causing the problem when we have perfectly acceptable alternatives in the form of solar and wind, etc., and battery-storage technology?

    The Native Americans (many of them still call themselves Indians) are rightly primarily concerned about the immediate dangers to the water system in the area both on the surface and below.

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  2.    Watertown Daily Times | St. Lawrence County auctioning 153 properties foreclosed for unpaid property taxes

    CANTON — More than 150 properties, including vacant land, homes and other parcels seized by St. Lawrence County for unpaid property taxes are scheduled to be sold to the highest bidder Sept. 10 at Lockwood Arena, West River Street, Ogdensburg.

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  3.    Economic Czars Warn G-20 of Risk From Populist Backlash on Trade – Bloomberg

    Despite all the handwringing by the G-20, certain protectionism is exactly the right thing to do. Health, safety, environmentalism, labor rights, democracy, and fairness are times when it's right. Sacrificing any of those on the alter of "free markets" is sacrilege and counter-productive to any nation-state or economy.

    Add your comment. Including the article/link number will help.


  4.    5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don't)

    Yes, but people must start somewhere. Many people simply don't have the money or connections or knowhow to start with 5+ unit properties.

    Add your comment. Including the article/link number will help.


  5.    The euro disaster — Wynne Godley was spot on already back in 1992! | LARS P. SYLL

    What I find totally baffling is the position of those who are aiming for economic and monetary union without the creation of new political institutions (apart from a new central bank), and who raise their hands in horror at the words 'federal' or 'federalism'. This is the position currently adopted by the Government and by most of those who take part in the public discussion.

    Wynne Godley

    And that's exactly the same position I took back then as well.

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  6.    Flooding of Coast, Caused by Global Warming, Has Already Begun – The New York Times

    It's a very long article but worth reading.

    For decades, as the global warming created by human emissions caused land ice to melt and ocean water to expand, scientists warned that the accelerating rise of the sea would eventually imperil the United States' coastline.

    Now, those warnings are no longer theoretical: The inundation of the coast has begun. The sea has crept up to the point that a high tide and a brisk wind are all it takes to send water pouring into streets and homes.

    These tidal floods are often just a foot or two deep, but they can stop traffic, swamp basements, damage cars, kill lawns and forests, and poison wells with salt. Moreover, the high seas interfere with the drainage of storm water.

    In coastal regions, that compounds the damage from the increasingly heavy rains plaguing the country, like those that recently caused extensive flooding in Louisiana. Scientists say these rains are also a consequence of human greenhouse emissions.

    Many people in Congress, almost all of them Republicans, express doubt about climate science, with some of them promulgating conspiracy theories claiming that researchers have invented the issue to justify greater governmental control over people's lives. So far, this ideological position has been immune to the rising evidence of harm from human-induced climate change.

    … The release of greenhouse gases from human activity is causing the planet to warm rapidly, perhaps faster than at any other time in the Earth's history. The ice sheets in both Greenland and West Antarctica are beginning to melt into the sea at an accelerating pace.

    Late last year, in Paris, nations reached a landmark global agreement to cut emissions. It is fragile, and might not survive if Donald J. Trump is elected president in November; he has pledged to scrap it.

    Many of the Repu blican mayors in the region are on the same page as Democrats in requesting national and state action on climate change, as well as pushing local steps. James C. Cason, the Republican mayor of Coral Gables, has convened informational sessions that draw hundreds of residents, and he has received no complaints for his stance.

    The region has one mayor, Philip K. Stoddard of South Miami, who is a scientist himself — he studies animal communication at Florida International University — and has been a close reader of scientific papers about climate change since the 1990s.

    "I remember lying in bed at night thinking, 'I hope this isn't real,'" Dr. Stoddard, a Democrat, recalled. "I hope other data comes in that contradicts it. It took me several years to get my head around it and say, 'Oh, God, it is real.'"

    Add your comment. Including the article/link number will help.


  7.    Union decline lowers wages of nonunion workers: The overlooked reason why wages are stuck and inequality is growing | Economic Policy Institute

    While we avoid strict causal claims about wage determination, the analytical approaches summarized in this report enable us to assess the independent effects of union decline on wages and lend confidence to our core contention that private-sector union decline since the late 1970s has contributed to substantial wage losses among workers who do not belong to a union. This is especially true for men. And most hurt by the decades-long decline in the nation's labor movement are those nonunion men who did not complete college, or go beyond high school—groups with the largest erosion of union membership over the last few decades.

    Breaking the power of the unions was one factor. Globalization without proper regulation was the other.

    Add your comment. Including the article/link number will help.


  8.    Time to reinvent labor for the 21st century: We don't need the unions of yesterday – Salon.com

    This "high road" strategy is nice and good, but it isn't the right path if we give up on global regulations. I mentioned those above in an earlier link: Health, safety, environmentalism, labor rights, democracy, and fairness.

    Add your comment. Including the article/link number will help.


  9.    How artificial intelligence will augment the typical North American city of 2030

    "To be successful, AI innovations will need to overcome understandable human fears of being marginalized. AI will likely replace tasks rather than jobs in the near term, and will also create new kinds of jobs. But the new jobs that will emerge are harder to imagine in advance than the existing jobs that will likely be lost. Changes in employment usually happen gradually, often without a sharp transition, a trend likely to continue as AI slowly moves into the workplace. A spectrum of effects will emerge, ranging from small amounts of replacement or augmentation to complete replacement. For example, although most of a lawyer's job is not yet automated, AI applied to legal information extraction and topic modeling has automated parts of first-year lawyers' jobs.

    I repeat: universal income.

    Add your comment. Including the article/link number will help.


  10.    City launches push to raze, rehab problem properties | News | eagletribune.com

    Vacant properties violating local and state health codes or with unresponsive, uncooperative or hostile owners can be taken to Housing Court for receivership. Once appointed, that receiver, who can be an individual or a company, has the power to enter and modify the structure and land to bring it up to code. The receiver then sells the property, typically at auction, and keeps the costs associated with receivership and renovation. Any money left over is given to the previous owner.

    Add your comment. Including the article/link number will help.


  11.    Danville council OKs purchase of dilapidated properties | News-Gazette.com

    Do you think increasing sales taxes are the right way to handle such issues?

    … after already demolishing more than 252 mostly residential properties since 2009, his administration wants to get even more aggressive about demolishing the worst offenders — 315 were marked in very poor condition in a recent city-wide survey of all structures.

    But another 1,200 properties were identified as poor condition, teetering on the edge of becoming "very poor" but with the potential to move up to fair or good condition with some improvements ….

    Add your comment. Including the article/link number will help.


  12.    U.S. Services Industries Expand at Weakest Pace in Six Years – Bloomberg

    As my readers know, this doesn't surprise me at all, as I had been writing before the report that I see a slowdown (even in the face of all the happy talk that was happening at the time).

    Add your comment. Including the article/link number will help.


  13.    Is Pushing Unemployment Lower A Risky Strategy? – Tim Duy's Fed Watch

    Bottom Line: The Fed thinks the costs of undershooting their estimate of the natural rate of unemployment outweigh the benefits. I am skeptical they are doing the calculus right on this one. I would be more convinced they had it right if I sensed that placed greater weight on the possibility that they are too pessimistic about the natural rate. I would be more convinced if they were already at their inflation target. And I would be more convinced if their analysis of why tightening cycles end in recessions was a bit more introspective. Was it destiny or repeated policy error? But none of these things seem to be true.

    Bottom Line: I agree.

    Add your comment. Including the article/link number will help.


  14.    BlackRock Says Investors Must Weigh Climate Change Like Insurers Are Doing

    The world's largest asset-management firm knows global warming is real.

    Add your comment. Including the article/link number will help.


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