Posts Tagged ‘prisons’

TLP: Sometimes, the Lowest Bidder is Low For a Reason

TLP: Sometimes, the Lowest Bidder is Low For a Reason

Courtesy of Jr. Deputy Accountant 

private prisons

Privatization of government services has it place. Trash pickup? Sure. IT? Makes sense. State prisons? Eh, maybe not so much.

FORTUNE:

Early this month, three convicted murderers escaped from a prison in Kingman, a small town along Route 66 in northwest Arizona. According to reports, the inmates had broken free from the facility by using a pair of wire cutters. They’d escaped from a medium-security facility operated by Utah-based Management & Training Corp, a private corrections company.

The incident set off a political furor, not over the fact that the three violent criminals were being held in a medium-security prison, but over the security of the facility itself, and, ultimately, over Arizona’s widespread use of private correctional facilities.

Arizona’s attorney general, Terry Goddard, a Democrat running for governor against incumbent Republican Janice Brewer, took the opportunity to indict the state’s infatuation with privatization.

"I believe a big part of our problem is that the very violent inmates, like the three that escaped, ended up getting reclassified [as a lower risk] quickly and sent to private prisons that were just not up to the job," Goddard told a local TV news station.

In recent years, the trend toward privatization, both among state governments and at the federal level has been part of an attempt to address serious budget troubles and crisis-level prison overcrowding by outsourcing more and more corrections operations to private companies.

The move has translated into big business for industry leaders like Corrections Corporation of America (CXW), The Geo Group (GEO) and Cornell Companies, Inc. (CRN) (just last week, The Geo Group and Cornell finalized a merger valued at $730 million).

According to research firm IBISWorld USA, private corrections is a $22.7 billion industry with an annual growth rate in the last half-decade of 4.7%. While growth slowed from 2009 to 2010, projections for the industry remain largely optimistic.

"The prison population continues to grow regardless of what the economic conditions are," says George Van Horn, senior analyst at IBISWorld.

According to the Bureau of Justice Statistics, the number of federal inmates housed in private facilities jumped nearly 14% between 2000 and 2007, and nearly 6% between 2007 and 2008.

Of course, there are ways government can deal with this problem. Make an…
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Schwarzenegger’s Budget Addresses Few Structural Issues

Schwarzenegger’s Budget Addresses Few Structural Issues

California Governor Arnold Schwarzenegger proposes his $83.4 billion state budget plan in Sacramento.

Courtesy of Mish 

Tonight, with much fanfare, Schwarzenegger released his proposal to fix California’s $19 billion budget deficit. It was a huge disappointment.

Schwarzenegger had a golden opportunity to propose radical changes like privatizing the prison system, privatizing work in general, sending illegal aliens home, or getting rid of defined benefit plans. Instead, Schwarzenegger wimped out on many key issues.

Budget at a Glance

Please consider some highlights from Schwarzenegger’s revised state budget at a glance

Close the $19.1 Billion Deficit Through:

  • $12.4 billion in spending cuts.
  • $3.4 billion in federal money.
  • $3.3 billion in other measures, primarily through borrowing from other state funds.

Spending Cuts Breakdown

  • $1.1 billion through the elimination of CalWORKS, the state’s primary welfare program, which serves 1.4 million people, two-thirds of them children.
  • $750 million in unspecified cuts to the state’s in-home supportive services program for the disabled, achieved through reductions in wages and services.
  • Cuts $532 million from Medi-Cal, the state’s medical program for the poor, by reducing eligibility, limiting doctor’s visits to 10 per year, reducing funding for hearing aids and other medical equipment, and increasing copays.
  • $811 million reduction in prison health care expenses by making the system more efficient and reducing funding.
  • About $360 million in savings by shifting nonviolent offenders out of state prisons and into county jails and by reducing the juvenile prison population and closing the facilities that house them.

State Employees

  • Payroll reductions of 5 percent across all state departments, except for constitutional offices, which already achieved 5 percent reductions. The administration says much of the payroll reduction can be achieved by departments not filling current vacancies.
  • A 5 percent pay cut for all state workers and a 5 percent increase in their pension contributions. The administration says this will save $1.6 billion.

Media Reporting

As soon as Schwarzenegger released the budget, the media was all over it. The LA Times headline says it all: Schwarzenegger’s budget deals blows to the poor.

Proposing a budget that would eliminate the state’s welfare-to-work program and most child care for the poor, Gov. Arnold Schwarzenegger on Friday outlined a stark vision of a California that would sharply limit aid to some of its poorest and neediest citizens.

His $83.4-billion plan would also freeze funding for local schools, further cut state


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The Economic Elite Vs. The People of the United States of America (I – III)

Full Report: The Economic Elite Vs. The People of the United States of America (Parts I-III)

Courtesy of David DeGraw, AmpedStatus Report

This report was originally released as a six-part series. The first part was published on February 15, 2010. The last part was published on February 27, 2010.  

 

“The American oligarchy spares no pains in promoting the belief that it does not exist,
but the success of its disappearing act depends on equally strenuous efforts
on the part of an American public anxious to believe in egalitarian fictions
and unwilling to see what is hidden in plain sight.”
– Michael Lind, To Have and to Have Not

 

The Economic Elite Vs. The People of the United States of America

 

It’s time for 99% of Americans to mobilize and aggressively move on common sense political reforms.

Yes, of course, we all have very strong differences of opinion on many issues. However, like our Founding Fathers before us, we must put aside our differences and unite to fight a common enemy.

It has now become evident to a…
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News You Can Use From Phil's Stock World

 

Financial Markets and Economy

US consumer confidence explodes to the highest level since 2000 (Business Insider)

US consumer confidence spiked to a 16-year high in March, according to the Conference Board's monthly survey. 

The headline index jumped to 125.6, the highest since December 2000. Economists had forecast that the index dipped in March to 114.0 from a 15-year high of 114.8, according to Bloomberg. 

Traders betting against Wall Street's favorite Trump trade are making a killing...



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ValueWalk

Nepal's Military Will Soon Be Invincible

By Guest Post. Originally published at ValueWalk.

By Col. Jitendra J. Karki (Retired, Nepal Army) and Dr. David Leffler

Nepal’s army schools are finishing their first stage implementation of Invincible Defense Technology (IDT). The ultimate goal of IDT is to prevent enemies from arising by reducing the collective societal stress that culminates in war, terrorism, and crime. IDT involves use of the Transcendental Meditation (TM) technique and its advanced practices, ideally by the military, to reduce this collective societal stress. Extensive peer-reviewed research has documented the efficacy of this approach. Militaries and police worldwide have successfully field-tested and are now using this approach (see Review Ne...



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Zero Hedge

Brodsky: "A Socialized Market With Guaranteed Positive Returns For All Must Fail"

Courtesy of ZeroHedge. View original post here.

Submitted by Paul Brodsky via Macro-Allocation.com

Self-Serve

In Passive Aggressive, we made the case that ETFs can be useful vehicles for thoughtful active investors. A few people agreed with our self-assessment in the piece that we were being self-serving because we are launching a modestly priced pro-volatility fund that actively manages ETFs. To s...



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Chart School

Rallies Come Through

Courtesy of Declan.

Bulls were able to deliver across the board gains, helping to position yesterday's action as a swing low. Weakness at this point would offer itself as a buying opportunity, but markets wouldn't tolerate more than a couple of days of losses if they were to go down this route.

The S&P is at resistance of the prior swing low and the 20-day MA, but today's action is looking good for an upside break tomorrow? Technicals are firmly in the red and need more than today's gain to fix them.



The Nasdaq did today...

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Kimble Charting Solutions

Silver bear market could end here!

Courtesy of Chris Kimble.

Below looks at the performance of Silver, Gold and the S&P 500 year to date. Metals and miners are off to a good start in 2017. Even though the stock market has received a good deal of attention this year, metals have done even better. Is the performance in 2017 the start of something even bigger for Silver & Gold?

CLICK ON CHART TO ENLARGE

It’s been a long time since buy and holders have experienced a bull market in Silver. How long has it been? Silver has created a series of lower highs since 2011. The trend ...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

The Biggest Risk From the Dollar's Drop May Not Be What You Would Guess (Bloomberg)

Whipsawed by the greenback and confronted by U.S. policy confusion, carry trades were supposed to be a rare bright spot for investors who want to stay away from the world’s biggest reserve currency.

These Charts Show Alarm Bells Ringing on the Trump Trade (Bloomberg)

Investors on Monday further unwound trades initiated in November resting on the idea that the election of Donald Trump and a Republican Congress meant...



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OpTrader

Swing trading portfolio - week of March 27th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Members' Corner

More Natterings

Courtesy of The Nattering Naybob

[Click on the titles for the full articles.]

A Quick $20 Trick?

Summary

Discussion, critique and analysis of the potential impacts on equity, bond, commodity, capital and asset markets regarding the following:

  • Last time out, Sinbad The Sailor, QuickLogic.
  • GlobalFoundries, Jha, Smartron and cricket.
  • Quick money, fungible, demographics, QUIK focus.

Last Time Out

Monetary policy is just one form of policy that effects capital,...



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Digital Currencies

Bitcoin Tumbles Below Gold As China Tightens Regulations

Courtesy of Zero Hedge

Having rebounded rapidly from the ETF-decision disappointment, Bitcoin suffered another major setback overnight as Chinese regulators are circulating new guidelines that, if enacted, would require exchanges to verify the identity of clients and adhere to banking regulations.

A New York startup called Chainalysis estimated that roughly $2 billion of bitcoin moved out of China in 2016.

As The Wall Street Journal reports, the move to regulate bitcoin exchanges brings assurance that Chinese authorities will tolerate some level of trading, after months of uncertainty. A draft of the guidelines also indicates th...



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Mapping The Market

Congress begins rolling back Obama's broadband privacy rules

Courtesy of Jean Luc

I am trying to remember who on this board said that people wanted to Trump because they want their freedom back. Well….

Congress begins rolling back Obama's broadband privacy rules

By Daniel Cooper, Endgadget

ISPs will soon be able to sell your most private data without your consent.

As expected, Republicans in Congress have begun the process of rolling back the FCC's broadband privacy rules which prevent excessive surveillance. Arizona Republican Jeff Flake introduced a resolution to scrub the rules, using Congress' powers to invalidate recently-approved federal regulations. Reuters reports that the move has broad support, with 34 other names throwing their weight behind the res...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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Biotech

The Medicines Company: Insider Buying

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

I'm seeing huge insider buying in the biotech company The Medicines Company (MDCO). The price has already moved up around 7%, but these buys are significant, in the millions of dollars range. ~ Ilene

 

 

 

Insider transaction table and buying vs. selling graphic above from insidercow.com.

Chart below from Yahoo.com

...

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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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