1.NY TIMES 4/3/13. B. Appelbaum: A debate in the open at the Fed, Two members of the Fed admitted it was hard to talk about the economic outlook of the Country without being a sourpuss. Mr Lacker, the President of The Federal Reserve Bank of Richmond , said he didn’t expect the economy to recover the losses sustained during The Recession.
Good intentioned, as they may be, the Fed realizes that keeping the borrowing rates low at the Fed window, has helped the banks take on more risk. Where is equal liquidity for the middle class? Where is the Regulation required to limit Bank risk? America is a complex society, can we really prosper with only one sector of the economy growing? There should be many choices?
2. NY TIMES TODAY/ business : Going Beyond green, a Seattle office center experiments with full sustainability. The new 50,000 square foot Bullit Center uses recycled rain water, solar panels and composting toilets. The elegant design is enticing high end ” fit” clients, who walk up an irresistible staircase that is glass enclosed with panoramic views. Check it out! Great concept, sustainable innovation .
3. NY TIMES /Dining Section: Another great concept idea, required millions, but thinking ” big” and being progressive looks promising in Dutchess County, New York. Dover Plains, Robb Taylor, has created A Maple Syrup ” adventure”. After turning 30,000 maple trees into a syrup production operation called Crown Maple, the Turner’s opened Meadow Farms to the public. Visitors can now tour the ” tapping route”, production , and product sampling in the shop and cafe. Should be fun on the way to the Berkshires.
4. LOL THE FINANCIAL TIMES 4/3/13 The bungled bailout that heralds an overdue shift in attitudes. The Geithner Doctrine provided an assurance that no systemically important group would be allowed fail. The combination of useless regulation, irrelevant regulation and state guarantees have given the appearance of activity, while maintaining the status quo. The Financial Times concludes by stating, that TBTF can no longer persist. The authors are advocating for more capital and less risk. That’s the ideal business model. As a small business when accounts payable was at 30% of receivables, you were making money. Time to re- think capitalization of the middle class? We were TBTF, too!