Monday, December 27, 2010

China Builds an Aircraft Carrier. Peaceful Rise?


On the last night of our visit to China a few years back, we took our crew out to dinner for a final celebration. Our Mr. Jong, our driver, told us that he had been one of China's few fighter pilots during the 1979 war with Vietnam. China's war with Vietnam did no go any better than ours.

Mr. Jong told us the Vietnamese beat the Chinese so quickly at the border that he and a handful of other pilots were ordered to Beijing to defend the city against the air attack the Chinese leadership feared would soon follow. It was another humiliation for a proud country where elites refer to the 19th century colonial period as a "century of humiliation."

After telling us this story, Mr. Jong grew wistful, telling us he hoped that one day he would live to see China build an aircraft carrier of its own so it could become a mighty nation.

Mr Jong may soon be getting his wish. The Chinese government today confirmed plans to develop into a naval power, complete with an aircraft carrier.

For years China has assured the world it intends a "peaceful rise." Developing what the military calls a "blue water navy" capable of operating far from China's shores will inject new uncertainty and tension into geopolitics. After all, the United States has a pretty big navy that operates around the world. What happens when these two navies bump up against each other?

I'm not sure I want to find out.

Republicans in the new Congress will take notice of China's ambitions. A complicated relationship is about to get more interesting. What do the Chinese say about living in "interesting times?"

Source: http://www.pbs.org/nbr/blog/2010/12/china_builds_an_aircraft_carri.html

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West Wing Week: "AKA Santa Claus"

Welcome to the West Wing Week, your guide to everything that's happening at 1600 Pennsylvania Ave. Walk step by step with the President as he signs the repeal of “Don’t Ask Don’t Tell,” looks back at an historic lame duck session, reads to kids for the Holiday season, and receives the Census report.

Learn more about the events featured in this edition of West Wing Week...

December 17, 2010

December 20, 2010

December 22, 2010

Arun Chaudhary is the official White House videographer

Source: http://www.whitehouse.gov/blog/2010/12/24/west-wing-week-aka-santa-claus

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Weekly Wrap Up: "Some Good News for the American People this Holiday Season"

A quick look at the week of December 13, 2010:

Quote: “We are here with some good news for the American people this holiday season,” said President Obama before signing the Middle-Class Tax Cuts Bill -- legislation that will prevent tax hikes on middle class families, keep the economy growing, and maintain lifelines for millions of those who are unemployed through no fault of their own. Watch the video.

Digg the White House: The White House is now on digg.com. Take a peek and start following us right now.

Holidays in Photos: Go behind-the-scenes as the White House celebrates the holidays in this photostream.

Healthy Kids: The President signs the Healthy, Hunger-Free Kids Act at a local DC school. The new law improves the nutritional value of school meals and increases the number of children eligible to receive them. Watch the President’s and the First Lady’s remarks.

The Night Before Christmas: The President reads to children at a local elementary school and the First Lady to patients, parents and staff at Children’s National Medical Center. Watch the video of the President here and the video of the First Lady here.

Elmo at the White House: Elmo joins Assistant White House Chef Sam Kass in the White House Kitchen to talk about healthy and tasty school meals -- and Elmo does the melon dance. Watch the video.

Lie of the Year: Politifact calls the claim that Health Reform is a "Government Takeover of Health Care" the lie of the year.

read more

Source: http://www.whitehouse.gov/blog/2010/12/17/weekly-wrap-some-good-news-american-people-holiday-season

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Triple Play 2010 the Movie by Trulia

Last week, Trulia attended the 2010 Triple Play Realtor convention in Atlantic City, New Jersey. What a great show!
We met so many amazing brokers, agents and association leaders over the course of 4 days. Way too many to list here. Some of them shared their Trulia experiences on video with us like Sandy and Bob [...]

Source: http://feedproxy.google.com/~r/TruliaBlog/~3/o0la6HEGXz4/

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Originator Compensation: MBA Pushes for Postponed Implementation of New Regs

The MBA agrees with us, the mortgage industry is no where near ready to implement new originator compensation regs. Originator Compensation Reform: Putting the Cart Before the Horse From the MBA.... On Thursday, December 16, 2010, the Mortgage Bankers Association (MBA) sent the attached letter to Ben Bernanke, Chairman, and Saundra Bernstein, Director, Consumer and Community Affairs Division, of the Federal Reserve, requesting written guidance to help the industry implement the Board’s final rule on loan originator compensation and steering published on September 24, 2010. In the letter, MBA President and CEO John Courson asks for written guidance confirming previous direction that the Board staff has graciously provided MBA and its members either verbally or in person. MBA, on behalf...(read more)

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Source: http://www.mortgagenewsdaily.com/12172010_delay_originator_comp_reform.asp

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Former Treasury Secretary John Snow on China Reforms

U.S. - China relations are framed almost exclusively in terms of currency. But that's not the whole picture. For some perspective, I spoke with former Treasury Secretary John Snow.

Source: http://www.pbs.org/nbr/blog/2010/10/darren_gershjohn_snow.html

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Celeb Tidbits: Jesse James Sells Home; Jermaine Jackson?s Rental in Foreclosure; Ronnie James Dio?s Home for Sale

Happy Holidays, Jesse James
West Coast Chopper CEO Jesse James (the former husband of actress Sandra Bullock) got an early Christmas present: the home (above) he shared with Bullock while news of his affair broke, was just sold. James’ Sunset Beach house was originally on the market since May 2010 at a price of $6,750,000. It [...]

Source: http://www.zillow.com/blog/celeb-tidbits-jesse-james-sells-home-jermaine-jacksons-rental-in-foreclosure-ronnie-james-dios-home-for-sale/2010/12/22/

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Keeping up with the Jones?

HomeFinder.com Race for the Home Champions On the morning of Saturday, September 25, Erin Jones woke her husband Adam impatiently and full of excitement, ?Let?s go win some money!? Of course, she said it playfully and with no inclination of just how much those words would ring true. By the end of the day, the [...]

Source: http://www.homefinder.com/news/opening-doors/2010/10/06/keeping-up-with-the-jones%e2%80%99/

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News Hub: Boone Pickens' Wife Says Nay to Ranchers

Jim Carlton has the story of why ranchers in Nevada are up in arms over a fence that the wife of billionaire T. Boone Pickens wants to erect on her property.

Source:
http://online.wsj.com/video/news-hub-boone-pickens-wife-says-nay-to-ranchers/36E1FA3D-64AA-4E57-83DF-C3C716B34EAB.html

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Some of 2010?s Top Real Estate Sales in U.S.

The sexiest real estate list each year is the Most Expensive Homes for Sale in the U.S., but the flip side of that list is what did these homes sell for, if they indeed did sell? While multi-million dollar price tags create oohs and aahs, it’s nothing more than a price tag until it’s sold. [...]

Source: http://www.zillow.com/blog/some-of-2010s-top-real-estate-sales-in-u-s/2010/12/20/

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Taking the bite out of closing costs

Roll fees into loan through seller or lender contribution

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Source: http://feedproxy.google.com/~r/inmannews/~3/K8AP6T3_bDs/taking-bite-out-closing-costs

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Today Show: What You Can Get For Under $350K

It’s that time again. Today, Barbara lowered the price range a few notches and picked out her favs for under $350K. We’re always down - the cheaper the better!
Here were some of her picks:
Memphis, TN

$349,900 | 3bd | 3ba
Reduced: $25K
University Heights, OH

$289,000 | 4bd | 2 full, 1 partial ba | 1,980 square [...]

Source: http://feedproxy.google.com/~r/TruliaBlog/~3/ShaLlo6468o/

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Existing-home sales rise in November

Inventory remains elevated at 9.5-month supply

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Source: http://feedproxy.google.com/~r/inmannews/~3/mOhUIK6Ud3E/existing-home-sales-rise-in-november

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Product Review: Evernote for Android

Record, store and sync text, voice and photo notes

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Source: http://feedproxy.google.com/~r/inmannews/~3/nXprJ9H0SrU/product-review-evernote-android

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Repealing DADT: "History Making"

This morning, hundreds of people came together to watch as the President signed the repeal of Don't Ask, Don't Tell into law.  Throughout the week, media outlets across the country have called the repeal a significant moment in civil rights history.  Here a few of the online posts and editorials we've seen.

Andrew Sullivan, The Atlantic: Obama's Long Game: 65-31

“Without the Pentagon study, it wouldn't have passed. Without Obama keeping Lieberman inside the tent, it wouldn't have passed. Without the critical relationship between Bob Gates and Obama, it wouldn't have passed. It worked our last nerve; we faced at one point a true nightmare of nothing ... for years. And then we pulled behind this president, making it his victory and the country's victory, as well as ours.”

Milwaukee Journal Sentinel: Making good history

“When Obama signs a bill repealing the military’s ‘don’t ask, don’t tell’ rule, it will be an event as significant for gay rights as President Harry Truman’s order integrating the U.S. military was for black Americans. Obama’s signature will mark historic progress for a nation that has for too long denigrated gay Americans. Our hope is that it is the death knell for one of the last frontiers of bigotry.”

Denver Post: For gays in the military, a measure of equality

“A basic civil right will finally be extended to thousands of men and women serving our nation in the military.”

Detroit Free Press: Another policy of prejudice rejected

“[F]or anyone whose soul is still stirred by the words of America's founding declaration, the end of DADT marks a monumental step toward the equality and justice its drafters sought to secure. And the process by which it was achieved highlights both the enduring strength of the American democratic process and the wisdom of its current stewards.”

Seattle Times: Gays in the military, an injustice repealed

“This is history making on the order of racial integration of the armed services and expanded roles for women in uniform.”

Los Angeles Times: 'Don't ask, don't tell': lessons of a long fight

“Support for repeal among the public and in Congress also reflected changing attitudes that can be credited not only to gay rights campaigners but also to ordinary gay and lesbian Americans who, by embracing their identity, made it harder for their friends, families and co-workers to cling to anti-gay prejudices.”

Las Vegas Review Journal: Closing this chapter

“President Obama is correct that sexual orientation places no limits on the ability of an American to display strength, courage and character. Despite the prohibition, gays have served and fought honorably in many armies -- and have essentially been integrated in the military for decades. Irrational prejudice is a thing to be confronted and overcome.”

Louisville Courier-Journal: Repealing bigotry

“’It is time to close this chapter in our history,’ Mr. Obama said last Saturday. ‘It is time to recognize that sacrifice, valor and integrity are no more defined by sexual orientation than they are by race or gender, religion or creed. It is time to allow gay and lesbian Americans to serve their country openly.’  A lot had to happen for an American commander in chief to be able to make that remarkable statement. Public attitudes had to change, and they have. Brave men and women had to risk everything in trying to end this discrimination, and they did. Public officials had to stand against storms of criticism, and they stood. The military establishment had to rectify a long-standing injustice, and it bent toward justice.”

AMERICAblog Gay: Tanya Domi: 'we stand on the shoulders of many who have not lived to see this day'

"But ultimately this vote and ultimate victory, belongs to the veterans and active duty service members who would not relent to the inaccurate political belief that we should not allow gays to openly serve during the course of two ongoing wars."

Miami Herald: So long, 'don't ask, don't tell'

“At least 25 nations allow gays and lesbians to serve in the military -- including Great Britain, Canada and Israel. Surely, the time has come for the United States to adopt the same enlightened policy. With two ongoing wars, the U.S. military simply can’t afford to exclude any individual able and more than willing to serve.”

Virginian-Pilot: Good riddance to ban on gays

“The military will adapt to this change, just as it did to racial integration and to allowing women to serve. In both those cases, critics predicted the sky would fall. It didn't. It won't this time, either.”

Pittsburgh Post Gazette: Victory in battle: Reason and equality win on 'don't ask, don't tell'

“The majority of military men and women surveyed, plus the top brass, said they favored repealing the policy. Defense Secretary Robert Gates and Adm. Mike Mullen, chairman of the Joint Chiefs of Staff, supported ending ‘don’t ask, don’t tell.’  What counts is that a good soldier is a good soldier.”

Houston Chronicle: A salute: Finally, all American troops can serve their country openly

“It (the repeal vote) was a rare display of principle over politics, especially in the bitterly divisive climate of this rough-and-tumble lame-duck session.  Good for them, good for our troops, and good for our country. Let's hope it's catching.”

New Orleans Times-Picayune: Allowing gay men and lesbians to serve with integrity

“Gay men and lesbians are already demonstrating their valor and patriotism in the armed forces, something that members of the military clearly recognized, based on their responses in a recently released Department of Defense report. Allowing them to do so honestly is only right.”

Billie Jean King, The Huffington Post: Repeal of Don't Ask, Don't Tell Is a Big Deal

"I am proud to be an American and I am honored to have the men and women who serve in our armed forces put their lives on the line to protect our nation. Their race, gender or sexual orientation does not matter to me. What matters most is their commitment to our country.  And that is a big deal."

Towleroad: Photo: Crowd Awaits Obama 'DADT' Signing Outside Dept. of Interior

 

 

 

 

Source: http://www.whitehouse.gov/blog/2010/12/22/repealing-dadt-history-making

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Effects of foreclosure freeze: Sales dry up, investors turn cautious

Stubborn distressed homeowners. Possible legal wrangling. Skeptical secondary post-flip buyers. These are now all major concerns for cash-laden real estate investors who were snatching up foreclosed homes from banks, renovating and then re-selling them for profits several weeks later, according to CNN.com. What happened? Several major banks recently put the “freeze” on foreclosure sales to [...]

Source: http://blog.foreclosure.com/2010/11/effects-of-foreclosure-freeze-sales-dry-up-investors-turn-cautious/

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Sunday, December 26, 2010

Refinance Apps Down Five Weeks in a Row. Purchase Demand Stalls After Brief Run Up

The Mortgage Bankers Association today released its Weekly Mortgage Applications Survey for the week ending December 10th, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a low mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out a lower monthly payment. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (creates more consumer spending or allows debtors to pay down personal liabilities like credit cards). A falling trend of purchase...(read more)

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Source: http://www.mortgagenewsdaily.com/12152010_refinance_apps_down_five_weeks_in_a_row_purchase_demand_stalls_after_brief_run_up.asp

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The Thorough Review of the New START Treaty

Yesterday, the Vice-Chairman of the Joint Chief of Staff, General James Cartwright, urged the Senate to approve the New START Treaty, saying “We need START, and we need it badly.” In Washington, dealing with the urgent sometimes trumps dealing with the truly important.  With the Senate’s consideration of New START, the United States Senate has the chance to deal with both, reducing our deployed nuclear weapons, and restoring our ability to effectively monitor Russia’s nuclear arsenal.  But now, some opponents of the Treaty – having failed to find any flaws with the Treaty – claim that they are not being given sufficient time to consider this important agreement.   Some claim that the Senate’s approach to this agreement is inconsistent with how they have been handled in the past. This criticism is wrong, and ignores the facts. 

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Source: http://www.whitehouse.gov/blog/2010/12/17/thorough-review-new-start-treaty

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Forget taxes and the deficit, we need to get serious about education!


I'm beyond stunned. I've spent all this time worrying about the deficit and our economy, thinking it was the critical issue facing the nation.

I was wrong. The most critical issue is education. Just look at the latest round of international testing in science, math, and reading. The Programme for International Student Assessment tested 15-year-old students around the world.

You probably know that students in Shanghai crushed the rest of the world, outscoring everyone in all categories by a wide margin. What you may not have heard is that kids in 28 nations outscored American kids in math. We're behind 15 nations in reading and 20 nations in science.

Hurray, we're #29!

We're not just broke, we're undereducated too!

How did we let this happen? How long can we let this go on?

Source: http://www.pbs.org/nbr/blog/2010/12/forget_taxes_and_the_deficit_w.html

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UN Suspends Food Aid in Pakistani Tribal Region

World Food Program stops all operations in the Bajaur district following suicide bombing that killed 45

Source: http://www.voanews.com/english/news/Bombing-of-Anti-Taliban-Tribe-Kills-45-in-Pakistan-112468364.html

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