Well it has been a while since I posted and my laptop is acting up thereby taking me longer . . . and resulting in an incomplete post. It has been very busy lately. Teaching progresses and little Simon is a little monkey as usual. Last Friday, he learned "ABCDE" as I was doing flashcards with Lucia. At church he learned AMEN so says the word often. My brother and his wife will be travelling from Toronto to Vancouver to board a cruise to Alaska. They will come out 2 days early to see mother whom they have not seen since 2013. Her condition will be a real shock. I saw my mother last night and spent almost 3 hours brushing her hair. At almost 88 years, she has had quantity of life so now my goal is strictly quality and brushing her hair fills the bill. My furbabes always send a message to Nana — meow, meow, meow! — which makes her smile. As many will know, TomCat's surgery was successful. He posted a brief statement which I will post over to Care2 so everyone will know.
Jig Zone Puzzle
Today’s took me 3:47 (average 5:27). To do it, click here. How did you do?
“It’s truly going to be an incredible place,” he told reporters. “We’re calling it the eighth wonder of the world.” …
Then Mr. Trump bought Hilton’s nearly completed casino in the marina district for $320 million, calling it Trump Castle. His company issued $352 million in bonds to finish construction and open the casino, and tacked on an additional $32 million. That casino opened in 1985 and competed directly against his partner’s first casino, Harrah’s Marina.
The following year, Harrah’s scuttled its partnership with Mr. Trump and sold him its stake in Trump Plaza for more than $220 million.
Next Mr. Trump went after the biggest casino of all, the Taj Mahal, which Resorts International, builder of Atlantic City’s first casino, was erecting. After buying a controlling interest in Resorts from the estate of its founder, Mr. Trump battled the talk show host Merv Griffin for control of the company.
In the end, Mr. Griffin got the company, while Mr. Trump won the still-unfinished Taj Mahal.
Even before the Taj opened, the New Jersey Casino Control Commission was concerned about the casino’s viability given its rapidly escalating costs and considered revoking its operating license. Regulators closely monitored the financial performance of the Trump casinos and the developer’s empire.
Mr. Trump told the commission in 1988 that he could rein in expenses, because conventional lenders were lining up to give him money at low interest rates. He said he abhorred junk bonds, which were then popular, because they carried a bigger risk of default and thus came with higher interest rates.
Within months, he reversed course, issuing $675 million worth of junk bonds, with a 14 percent interest rate, to finish construction and get the Taj open. In recent interviews, Mr. Trump has said that with each financing he routinely took money out of the casinos to invest in Manhattan real estate. Total debt on the Taj exceeded $820 million.
Less than two weeks before the casino opened, Marvin B. Roffman, a casino analyst at Janney Montgomery Scott, an investment firm based in Philadelphia, told The Wall Street Journal that the Taj would need to reap $1.3 million a day just to make its interest payments, a sum no casino had ever achieved.
“The market just isn’t there,” Mr. Roffman told The Journal.
Mr. Trump retaliated, demanding that Janney Montgomery Scott fire Mr. Roffman. It did.
“It was doomed way before the start,” said W. Bucky Howard, who was promoted by Mr. Trump to president of the Taj five days after it opened, in a recent interview. “I told him it was going to fail. The Taj was underfunded.”
Almost immediately, Mr. Trump had trouble making the debt payments on the Taj and his other casinos. It was also clear that the Taj was cannibalizing the Castle and the Plaza, whose combined gambling revenues dropped by $58 million the year it opened.
Video from Democracy Now. Click on the link for a transcript.
While I was out at physio, I heard a report, or perhaps it would be better put as a prediction, that a Trump presidency would be a disaster for the US economy and indeed the global economy. Think Progress has an excellent article on this prediction.
The heart of Trump’s economic proposals come down to tax, trade, and immigration policy. He’s put forward a tax package that experts have found would cost $9.5 trillion and hand nearly all of the benefits to the wealthiest. He’s promised to levy huge tariffs on imports from countries like China and Mexico and he’s railed against trade deals. And he says he’ll deport 11 million undocumented immigrants while building a wall along the Mexican border.
If all of that were to happen just how Trump proposes it, Moody’s analysis finds that the American economy would dip into a recession beginning in 2018 that would last through 2020 — longer than the Great Recession. It estimates there would be 3.5 million fewer jobs and the unemployment rate would rise to a peak of 7.4 percent, as opposed to the current rate of 4.7.
This post is a detailed article by Russ Buettner and Charles V Bagli outlining Trump's "business acumen", something touted by his supporters as being very important to them. If they only knew that Trump, in venture capital fashion, transferred debt to his properties, cheated contractors, investors and employees, and then declared bankruptcy, not once but four times. He made millions while he left others holding the bag. Is this the kind of performance that supporters want? Unfortunately, his supporters won't understand what he has done or will do. They believe and like his "straight talk", but it is all show and no go. It is pure unadulterated bullshit!
CBC — Donald Trump suggested Sunday that the United States should "seriously" consider profiling Muslims inside the country as a terrorism-fighting tool, the latest example of the Republican presidential nominee-in-waiting increasingly backing positions that could single out a group based on their religion.
"Well I think profiling is something that we're going to have to start thinking about as a country," Trump said in an interview broadcast Sunday on CBS's Face the Nation. "It's not the worst thing to do."
The presumptive Republican presidential nominee added that he "hate(s) the concept of profiling, but we have to use common sense" over "political correctness."
And the hate just keeps on! The Republicans allowed this travesty to happen so now they must own it even if it means the destruction of the party. We can hope can't we?
Think Progress — The U.S. Supreme Court ruled Monday that police can still arrest someone for an outstanding warrant even if they had no right to stop the person in the first place. …
“This Court has given officers an array of instruments to probe and examine you,” she writes. “This Court has allowed an officer to stop you for whatever reason he wants — so long as he can point to a pretextual justification after the fact. That justification must provide specific reasons why the officer suspected you were breaking the law, but it may factor in your ethnicity, where you live, what you were wearing, and how you behaved. The officer does not even need to know which law you might have broken so long as he can later point to any possible infraction — even one that is minor, unrelated, or ambiguous.”
IMO, Sotomayor is correct and the Injustices, particularly Teabag Thomas, are wrong. The 4th amendment to the US Constitution reads:
The right of the people to be secure in their persons, houses, papers, and effects against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
What part of "unreasonable searches and seizures" doesn't Teabag Thomas understand? I suppose he would argue that it is all in the meaning of the word "unreasonable", which I have to admit is rather subjective. I wonder what would happen if a cranky old whirte man were stopped and searched. Can we please have a fair impartial justice to replace Scalia!
My Universe —