The Atlasia Dispatch-Herald News Unit

[Southern Senator North Carolina Yankee]

How are those Factory/Durable Goods orders coming?

[Southern Senator North Carolina Yankee]

Economic News

Durable Goods, Factory Orders Data Released
New orders for manufactured durable goods in August decreased $12.7 billion or 6.2 percent to $193.0 billion, the Atlasian Census Bureau announced today. This was the largest percent decrease in new orders since October 2006 and followed two consecutive monthly decreases including a 0.2 percent July decrease. Excluding transportation, new orders decreased 4.4 percent. Excluding defense, new orders decreased 4.6 percent.

Transportation equipment, up twenty-one of the last twenty-two months, had the largest increase, $1.3 billion or 1.5 percent to $89.9 billion.

Meanwhile, total factory orders, calculated as the sum of all durable and non-durable goods orders, declined 6 percent, indicating that new orders of non-durable goods had decreased at a slightly slower pace than durable goods. Nevertheless, this fall represents a major shift in demand for products.

Hopefully the stimulus will help boost these numbers in the future. We need to get Business investment back up for sure.

Good job, PS. Any chance I could get you to supply these on a monthly basis? Along with the Construction/Housing and Consumer Demand/Retail data.

[Southern Senator North Carolina Yankee]

Tentative Schedule for Recurring Reports:

Topic: Schedule; Next expected release

Federal Revenue/Expenditures: The second Wednesday of every other month; October 14
Regional Budgets: The second week biannually; February 7-12
LIBOR/Prime, Bonds: The last Thursday of every other month; October 29
Employment/Unionization: The first day of every other month, with regional numbers the following day; October 1, 2
Population: The first day of every year; January 1
Retail Sales: The first Tuesday of every other month; November 3
Consumer Spending: The first Monday of every other month; October 5
Consumer Confidence: The fourth Thursday of every other month; November 26
Housing Data: The second Friday of every other month; November 13
Durable Goods/Factory Orders: The last Monday of every other month; November 30

This is great, now you can have the Stock market fluctuate the days leading up to a release based on "market expectations" and then have market react to the final numbers. This is a very fun process.

[Southern Senator North Carolina Yankee]

Regional News

Midwest Regional Report
With a new and active Governor in the Midwest region, a number of actions have been taken that will have large impacts on the region’s internal administration.

First, in response to the release of a report on education in the Midwest region, Governor Vepres has ordered that all public-run colleges and universities reduce tuition and other costs of attendance, even at the expense of university revenue.

The Office of the GM projects that this memorandum will lead to a gradual slowing of the rate of increases in tuition costs; however, tuition will continue to rise and the impact will fall short of the governor’s goal to make college “a place open to all people.” In addition, the revenue reductions could actually hurt the viability and competitiveness of the Midwestern universities.

Instead, the GM recommends that the Midwest institute a scholarship program aimed at benefiting students in SEDZs, as determined by the Atlasian Senate in the Establishment of Social and Economic Development Zones Act.

In addition, the Office of the GM applauds the governor’s proactive attempts to stimulate and encourage students in the region to strive to work hard and do better in school. The GM believes that actions like this, especially in underserved neighborhoods, will do much to create a more equitable education environment in the long-run.

Governor Vepres has also recently issued a memorandum on the violation of wage laws, a rampant phenomenon throughout the nation. It is the opinion of the Office of the GM that more effective and clear wage laws are necessary in the Midwest in order to aid law enforcement officials in determining what is and is not an offense. Such a law may be modeled after the federal legislation moving through the Senate or may be specific to Midwestern “tastes.”

An executive order was also issued on enforcement of immigration laws in the Midwest region. The governor made clear that illegal immigration laws would not be proactively upheld and that funding would be reprioritized to violent crimes. In addition, Vepres has ordered that punishment for the employment of undocumented workers will be focused on the employer, rather than the employee. This has caused a fair bit of outcry from Midwestern businesses, but many human rights groups have applauded the governor for his tough stance on abuse of illegal immigrants.

This office projects that the order will result in an influx of cheap undocumented labor into the Midwestern economy, while businesses seek to mask or remove similar types of employment. This could result in a quick surge in unemployment in the region and the GM believes the region should take proactive steps to alleviate this possible issue. Solutions could include reducing enforcement of employment-related illegal immigration laws, creating citizenship-incentive or guest visa programs or other related actions. Each solution has its own pros and cons which should be discussed further in debate within the region.

Thank you!

As for immigration, I don't believe Atlasia currently has amnesty nor a guest worker program, but it is my understanding that that is a national responsibility, one where the regions have little influence. I will take some more action though.

I would urge the Governor think strongly before agreeing to what PS proposes here. Doing so what he wants would lead to severe wage Depression, and that would be just as bad as increased Unemployement. I also think the Governor has made a mistake in "shifting the focus" of Immigration laws. The affects will be felt the most by those at the lowest of the pay scale who are being hit hardest by the recession already. Guest worker or other type programs tend to have the same effects as illegals coming into an area. When it comes to Wage Depression there is no distinction between legal and illegal what matters is line of work and education level.

Lastly I beleive a recent Senate passed an Amnesty if I am not mistaking.

[Southern Senator North Carolina Yankee]

Regional News

Midwest Regional Report
With a new and active Governor in the Midwest region, a number of actions have been taken that will have large impacts on the region’s internal administration.

First, in response to the release of a report on education in the Midwest region, Governor Vepres has ordered that all public-run colleges and universities reduce tuition and other costs of attendance, even at the expense of university revenue.

The Office of the GM projects that this memorandum will lead to a gradual slowing of the rate of increases in tuition costs; however, tuition will continue to rise and the impact will fall short of the governor’s goal to make college “a place open to all people.” In addition, the revenue reductions could actually hurt the viability and competitiveness of the Midwestern universities.

Instead, the GM recommends that the Midwest institute a scholarship program aimed at benefiting students in SEDZs, as determined by the Atlasian Senate in the Establishment of Social and Economic Development Zones Act.

In addition, the Office of the GM applauds the governor’s proactive attempts to stimulate and encourage students in the region to strive to work hard and do better in school. The GM believes that actions like this, especially in underserved neighborhoods, will do much to create a more equitable education environment in the long-run.

Governor Vepres has also recently issued a memorandum on the violation of wage laws, a rampant phenomenon throughout the nation. It is the opinion of the Office of the GM that more effective and clear wage laws are necessary in the Midwest in order to aid law enforcement officials in determining what is and is not an offense. Such a law may be modeled after the federal legislation moving through the Senate or may be specific to Midwestern “tastes.”

An executive order was also issued on enforcement of immigration laws in the Midwest region. The governor made clear that illegal immigration laws would not be proactively upheld and that funding would be reprioritized to violent crimes. In addition, Vepres has ordered that punishment for the employment of undocumented workers will be focused on the employer, rather than the employee. This has caused a fair bit of outcry from Midwestern businesses, but many human rights groups have applauded the governor for his tough stance on abuse of illegal immigrants.

This office projects that the order will result in an influx of cheap undocumented labor into the Midwestern economy, while businesses seek to mask or remove similar types of employment. This could result in a quick surge in unemployment in the region and the GM believes the region should take proactive steps to alleviate this possible issue. Solutions could include reducing enforcement of employment-related illegal immigration laws, creating citizenship-incentive or guest visa programs or other related actions. Each solution has its own pros and cons which should be discussed further in debate within the region.

Thank you!

As for immigration, I don't believe Atlasia currently has amnesty nor a guest worker program, but it is my understanding that that is a national responsibility, one where the regions have little influence. I will take some more action though.

I would urge the Governor think strongly before agreeing to what PS proposes here. Doing so what he wants would lead to severe wage Depression, and that would be just as bad as increased Unemployement. I also think the Governor has made a mistake in "shifting the focus" of Immigration laws. The affects will be felt the most by those at the lowest of the pay scale who are being hit hardest by the recession already. Guest worker or other type programs tend to have the same effects as illegals coming into an area. When it comes to Wage Depression there is no distinction between legal and illegal what matters is line of work and education level.

Lastly I beleive a recent Senate passed an Amnesty if I am not mistaking.

The only law I could find was this. It doesn't give amnesty, but it doesn't call for deportation unless they commit a crime.

Well guess what, if that wasn't amnesty, Then many illegals can be tried for violation of the Id Theft Prevention and Resolution Act and held to its standards. So they are criminals.

[Southern Senator North Carolina Yankee]

I know conditions are dire and the economy sucks in Atlasia right now, but even the US' stock market went up sometimes throughout the crisis, even if they were mediocre gains.

Remember we are about 6 to 8 months behind the US and much deeper because the gov't waited to act.


I don't want to write the Financial package alone. I would prefer to work with someone on it. If anybody is interested please PM me.

[Southern Senator North Carolina Yankee]

"When one man is indespensible, no one is free" 



Unfortunately, as I warned, my knee sprain took me off the forums Friday. Tomorrow I will be busy prefering for a medical procedure on Monday. With no complications, I should be available Monday night, or Tuesday at the lastest.

[Southern Senator North Carolina Yankee]

Well, the markets will not open until Tuesday this week, so you do have some time.

As for the actual state of the banks Marokai, it is difficult for me to take into account differences between Atlasia and the US on certain things. I can't predict how a different tax rate will have affected the banking sector over the last five years. However, given the assumption that we were the US until 2004, it is pretty likely something like this would be relatively similar.

The housing boom lasted 10 years. In 2004, 80% of it had already gone by. Most of the toxic loans made by private institutions were put out in the 2001-2004 period. Housing had already decoupled from wage growth in 2001 or 2002. Tax rate would have had no impact on whether or not this occured. This likely would have happened in RL if either AL Gore or John Kerry had won election.

[Southern Senator North Carolina Yankee]

I think you're doing a fine job with national stuff, but I think your regional news needs work.  You tend to focus almost exclusively on the Mideast and the Midwest.  Have you done anything on the Northeast ever?  Isn't it still our most populous region?

Myself and Mideast assemblymen have requested info, so yeah.

I have too, and even went so far as to provide a draft. 

There has been an article for the Northeast if I recall correctly. I am also working on the NE's regional report for tomorrow hopefully. And I am in the process of reviewing your draft, but much of it seems to rely on what you want to happen, which is not necessarily what I think would happen.

Also, not one of the regions have yet acted on my budget recommendations from a month ago. Things could better build on themselves and grow if people reacted to what the GM posts so that the GM can react to their actions. It's a self-sustaining cycle.

It just seems like no one understands the economy enough to comment.

[Southern Senator North Carolina Yankee]

We can't all be geniuses like you, NCY.

The more you know about the economy the better off you will be. Atleast you get to know who you are getting fuck by.

[Southern Senator North Carolina Yankee]

Whether its most prominent residents, whose political leanings tend to favor abolition of the regions, view this as a positive or negative aspect cannot be determined by this office

I'd say its most prominent residents have a strong pro-regional tendency.  bgwah, for example, is a reactionary on the issue.

Do you even know what "reactionary" means?

Yes.
<-Radical----Liberal----Moderate----Conservative----Reactionary->

I'd say clapping your hands over your ears and going "lalala, regions are just swell in every way!" hearkens back to the days of yore entirely too much, wouldn't you?

Similarly, my impractical support of the complete abolition of regions is extreme enough (in a "change the foundations of society") way that it's clearly radical.

You just don't want to admit regions are making a big comeback as far as activity is concerned

And as far as impact is concerned, they're just as irrelevant.

Step number two in Marokai's handbook to success in politics: Never admit to being wrong on big issues.

[Southern Senator North Carolina Yankee]

It's because he isn't wrong.

I remember when he was saying the same things to me that you now say to him. It was just half a year ago...

Those weren't about policy.

[Southern Senator North Carolina Yankee]

It's because he isn't wrong.

I remember when he was saying the same things to me that you now say to him. It was just half a year ago...

Those weren't about policy.

How would you know the conversations we had in private?

Well its not like you have change positions that much before or since. My guess is they focused on other matters.

[Southern Senator North Carolina Yankee]

It's because he isn't wrong.

I remember when he was saying the same things to me that you now say to him. It was just half a year ago...

Those weren't about policy.

How would you know the conversations we had in private?

Well its not like you have change positions that much before or since. My guess is they focused on other matters.

I used to be very pro-region. You can look back on my former posts in the Social Democratic Party and my early days in the JCP as proof of that. Xahar and I used to conflict over the issue of regional rights a great deal, mostly in private, and especially over my constant efforts to bring myself closer to the RPP.

Over time, however, my positions on regional rights evolved to what they are now. Xahar was right all along on the issue and I apologized to him awhile back for my youthful ignorance, if you will.

Well instead of one of you being wrong and the other right, now both of you are wrong, and I am right. Nice how that works out.

[Southern Senator North Carolina Yankee]

Let's see if this will work this time... I won't be available until tomorrow night. Please don't do anything newsworthy or noteworthy until then (besides start elections).

I will try to post something on the national election when voting closes, so look out for it.

Yay PS is gone, lets get the Tommy guns out, boys.

• $1 Atlasian = $0.93064 U.S. (-0.00719)

The Atlasian trade deficit was reported to have shrunk by $10 billion since mid-August as the weakening dollar and economic recovery of a few key nations has led to increasing exports.

I hope people realize that this is a good thing.

I tried to convince Vepres of that last night in the Fiscal Relief debate.

[Southern Senator North Carolina Yankee]

I'm not going to play along with random pretend terrorist attacks in New Mexico or whatever it is you've concocted. I am here to play the game, but not these ridiculous SPC-esque scenarios.

Marokai, since when do get to be da final arbitor of what is exceptable from the GM? I do recall it was PS and I that spent the most time trying to improve the position and so far I am praying that PS remains there as long as possible cause I don't know anyone who could do it like he does.

[Southern Senator North Carolina Yankee]

I haven't been following the GM reports in the last week, been distracted. Thats going to change.

[Southern Senator North Carolina Yankee]

I haven't been following the GM reports in the last week, been distracted. Thats going to change.

Thank you for giving me a heads up. I'll work extra hard, just for you babe.

I have a question, do you get paid time off for all those Saturdays?

[Southern Senator North Carolina Yankee]

I haven't been following the GM reports in the last week, been distracted. Thats going to change.

Thank you for giving me a heads up. I'll work extra hard, just for you babe.

I have a question, do you get paid time off for all those Saturdays?

Seeing as I haven't gotten a paycheck for this yet, I'm starting to wonder which senator is skimming the cream off the top. I'll be watching...but I'll put on these shades so you can't tell who I'm looking at.

lol.

Well Service is its own reward as they say.

[Southern Senator North Carolina Yankee]

Working on a paper and gave you all two stories last night, but forgot financials. So to make up for it, today you get only financials...

Financial News

Financial Indicators

• ANSE     931 +6 (0.65%)
• $1 Atlasian = $0.87345 U.S. (-0.01018)
• Crude Oil = $93.94/barrel -0.52 (0.55%)

Analysis:
The ANSE continued to rise as economic indicators appear to be strengthening. In addition, many believe that Senator NCYank is close to releasing a credit market regulation bill to the Senate in the coming days.
The Atlasian Dollar fell as a result of the large Atlasian trade deficit. Officials in China and the European Union have begun to voice concern about the falling A$, urging policy makers to take needed measures to slow its decline.

Oil prices fell as demand for the commodity has sharply declined in recent weeks.

I am aiming for the weekend by I am hung up on the last sections. Perhaps the GM might be willing to offer some guidance on the later sections.

How big is the CDS market in Atlasia? What is the GM's recommendation regarding reforming them?

What is the GM's recomendation for leveraging/minimum reserve requirements for investment banks?

[Southern Senator North Carolina Yankee]

Working on a paper and gave you all two stories last night, but forgot financials. So to make up for it, today you get only financials...

Financial News

Financial Indicators

• ANSE     931 +6 (0.65%)
• $1 Atlasian = $0.87345 U.S. (-0.01018)
• Crude Oil = $93.94/barrel -0.52 (0.55%)

Analysis:
The ANSE continued to rise as economic indicators appear to be strengthening. In addition, many believe that Senator NCYank is close to releasing a credit market regulation bill to the Senate in the coming days.
The Atlasian Dollar fell as a result of the large Atlasian trade deficit. Officials in China and the European Union have begun to voice concern about the falling A$, urging policy makers to take needed measures to slow its decline.

Oil prices fell as demand for the commodity has sharply declined in recent weeks.

I am aiming for the weekend by I am hung up on the last sections. Perhaps the GM might be willing to offer some guidance on the later sections.

How big is the CDS market in Atlasia? What is the GM's recommendation regarding reforming them?

What is the GM's recomendation for leveraging/minimum reserve requirements for investment banks?

Just so it doesn't get burried, I really need this info, Purple.

[Southern Senator North Carolina Yankee]

I haven't been following this as closely as I should have over the last two weeks. I am sure PS has felt my absence, well not to worry, I shall once again be meticulously analyzing the GM's economic reports again.

[Southern Senator North Carolina Yankee]

Where is the thread that discusses the pros and cons of this regional self determination thing about how regional senators or some such are elected?  The voting booth is now open on this, and I don't at present know how to vote. Thanks.

I don't know that there is own. Check the SEnate debate thread where was passed in the Gov't board or look through the SEnate noticeboard

[Southern Senator North Carolina Yankee]

National News

From the GM’s Desk: Legislation Analysis
Financial Regulatory Reform Bill of 2009 §3(c): Per the GM's understanding of §3(c) of this bill, sponsored by Senator North Carolina Yankee (RPP), the following analysis addresses capital requirements at financial institutions.

The current bill would require any national banking association in Atlasia to hold 25% of their capital as tangible, on-hand assets.

This policy, if implemented, would essentially force the breaking apart of larger, so-called "too big to fail" banks into smaller spin-offs.

If all the Senate wishes to do is level the playing field between bigger banks, that have an implicit, or explicit, federal guarantee on their debt that lowers their cost of capital, giving them a permanent competitive advantage, the maximum the capital requirements ratio would have to be raised to is 15% directed at all financial institutions that have the implied federal guarantee. It would also be effective, at varying degrees, at 10% to 12%.

It should be stressed that this ratio should only be targeted at financial institutions that have implied federal guarantees. The ratio for smaller banks that do not have this advantage should remain at 8%.

In short, the intent of the Senate should dictate the number in this section. The higher the percentage, the harder it will be for larger banks to effectively loan money, while lower percentages will allow for banks to make more, albeit riskier, investments.

Could you explain this, it has left me confused?


For one the current language only applies those new requirments to Investment Banks and Hedge Funds. There is currently an amendment before the Senate which expands it to cover all banks. I take it then that your concerns actually refer to this amendment and not the overall bill. Please clear this up.

[Southern Senator North Carolina Yankee]

National News

From the GM’s Desk: Legislation Analysis
Financial Regulatory Reform Bill of 2009 §3(c): Per the GM's understanding of §3(c) of this bill, sponsored by Senator North Carolina Yankee (RPP), the following analysis addresses capital requirements at financial institutions.

The current bill would require any national banking association in Atlasia to hold 25% of their capital as tangible, on-hand assets.

This policy, if implemented, would essentially force the breaking apart of larger, so-called "too big to fail" banks into smaller spin-offs.

If all the Senate wishes to do is level the playing field between bigger banks, that have an implicit, or explicit, federal guarantee on their debt that lowers their cost of capital, giving them a permanent competitive advantage, the maximum the capital requirements ratio would have to be raised to is 15% directed at all financial institutions that have the implied federal guarantee. It would also be effective, at varying degrees, at 10% to 12%.

It should be stressed that this ratio should only be targeted at financial institutions that have implied federal guarantees. The ratio for smaller banks that do not have this advantage should remain at 8%.

In short, the intent of the Senate should dictate the number in this section. The higher the percentage, the harder it will be for larger banks to effectively loan money, while lower percentages will allow for banks to make more, albeit riskier, investments.

Could you explain this, it has left me confused?


For one the current language only applies those new requirments to Investment Banks and Hedge Funds. There is currently an amendment before the Senate which expands it to cover all banks. I take it then that your concerns actually refer to this amendment and not the overall bill. Please clear this up.

I will clarify. When reading the legislation I missed the pre-text of §3. I will enunciate that this 10-15% only refers to banks, brokers, insurance companies or government-sponsored entities that have implied federal guarantees.

EDIT: Not sure it is what you wanted, but that is my current analysis. If you have your own views, feel free to PM me your thoughts and items I could read to back up your points and I will take it into account.
[/quote]

That makes more sense.


To some extent. Splitting these organizations and creating several smaller ones will reduce systemic risk and take "too big to fail" out of our vocab to describe the current situation.

I could support lowering the limits if need be.