Randam Ron Paulism
The non-institutional elements of Bretton Woods, such as the gold-backed dollar standard, have gone by the wayside, but the World Bank and the IMF soldier on… Western governments tax their citizens to fund the World Bank, lend this money to corrupt Third World dictators who abscond with the funds, and then demand repayment which is extracted through taxation from poor Third World citizens, rather than from the government officials responsible for the embezzlement. It is in essence a global transfer of wealth from the poor to the rich. Taxpayers around the world are forced to subsidize the lavish lifestyles of Third World dictators and highly-paid World Bank bureaucrats who don’t even pay income tax.”
World Bank Hearing, May 22, 2007
Federal Reserve sees moderate improvements in regional economy
The Federal Beige Book was released Wednesday.
Reporter- Business First
The economy of the Federal Reserve’s
Eighth District, which includes the Louisville area, continues to expand at a modest pace, the Federal Reserve reports in its most recent Beige Book on economic conditions.
Home sales increased throughout the district on a year-over-year basis. May 2012 year-to-date home sales were up 15 percent in Louisville, 7 percent in Little Rock, 21 percent in Memphis and 19 percent in St. Louis.
Housing permits increased 45 percent in Louisville, 26 percent in Little Rock, 41 percent in Memphis and 25 percent in St. Louis.
Commercial and industrial real estate conditions also improved moderately, with a Louisville contact reporting strong leasing activity for premium office space in the city’s central business district. Office vacancy rates were mixed in other Louisville sub-markets, the report said.
Several manufacturers within the Eighth District reported plans to open plants and expand operations in the near future, especially in the auto, appliance, wall coverings, food, construction machinery, factory components and packaging industries.
Service industries that reported plans to expand and hire new workers included medical transportation, waste management and business support services. Industries in which firms planned to lay off workers included newspaper publishing, telecommunications, educational services and merchant transaction services.
General retailers have reported stronger sales recently and auto dealers have reported year-over-year increases in sales.
For the full report, click here.
Kevin Eigelbach covers these beats: Financial services, residential real estate, property and casualty insurance, construction, unions, engineers, architects, agriculture, South End, Southwest County, Bullitt County.
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