China’s Economy- by NEIL SISKIND

-Low wages
-Rising interest rates on consumers
-Rising interest rates on businesses
-Trade tariffs on exports and export disruptions from a trade dispute
-Speculative housing bubble
-Over-leveraged banks and shadow banks
-Enormous government debt load

Basic economics tells you what comes next.

 

Neil S. Siskind, Esq., President
The Siskind Law Firm
Tel: 646.530.0006

Neil Siskind is the Founder & Chairman of The Fatherhood Assignment
Neil-Siskind-photo
Learn more at:  http://www.neil-siskind-the-fatherhood-assignment.org/

Neil Siskind is the Conservator of the Neil S. Siskind Nature Preserve
Neil-Siskind-Picture

The Neil S. Siskind Nature Preserve is over 7 acres of environmentally-pristine waterfront land in a magnificent setting along New York’s majestic Hudson River. The Preserve includes a variety of species of animal and plant life, and is a precious example of the thoughtful maintenance of New York’s priceless open spaces. The land’s uses are limited to outdoor recreation such as hiking and climbing, and the study of ecology, nature and land use. The Neil S. Siskind Nature Preserve allows for the intelligent contemplation of our valuable natural resources and the most effective ways to maximize them and keep them protected.

Neil Siskind, Founder, “National Fatherhood Day” – March 29th

Neil-Siskind-pics
To encourage recognition of the needs of boys and girls who are living without fathers or father-figures in their lives.

Read about the non-profits and charities whose missions Neil Siskind supports and promotes: www.neilsiskindsupports.com
Caring is Free®

You can read what clients and associates say about Neil Siskind at: http://siskindlawfirm.com/neil-siskind-bio/.

Neil Siskind’s Volunteer Work:

– Memorial Sloan Kettering Cancer Center, Volunteer

– Memorial Sloan Kettering Cancer Center, My Fundraiser- Help Neil Siskindhelp children with cancer to be more comfortable: http://mskcc.convio.net/site/TR?px=3182108&fr_id=2632&pg=personal

– Make-A Wish Foundation- Help Neil Siskind make sick children’s wishes come true by creating your own fundraiser: Neil-Siskind/Help-Make-A-Child-Smile.htm

– DonorsChoose.org- Donate to one of my needy public classrooms: http://www.donorschoose.org/NeilSiskindGiving

– Champion Children– We seek to inspire people through stories of children who have overcome challenges: http://siskindlawfirm.com/neil-siskind-champion-children/


Neil Siskind’s Pro Bono
 Work:

– Saving Senior Citizens- Protecting New York’s senior citizens from fraud and financial abuse www.savingseniorcitizens.com

– Senior FreeStart Business– Pro Bono: We seek to help put senior citizens in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– Veteran FreeStart Business– Pro Bono: We seek to help put Iraq and Afghanistan war veterans in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– In development: The Neil S. Siskind School of Hope: A free school to teach inner-city youths the skills of entrepreneurship and importance of economic self-sufficiency.

Neil Siskind’s Government Work:

– Suffolk County District Attorney’s Office, Boston, MA, 1994, Intern
– Office of Senator Christopher J. Dodd, Newington, CT, 1992, Intern
– Hartford County Department of Probation, Hartford, CT, 1991, Intern

Neil Siskind’s Community Assistance:

Financed & operated a legal clinic providing low-cost legal services to struggling Long Islanders during the recession to help clients resolve debt, organize finances, and launch new businesses.

Neil Siskind’s Professional Curriculum Vitae: http://neilsiskind.com/

Sponsored Advertisements

Inventors, IP Owners, Manufacturers
Learn How To Bring Products To Market And To Expand Your Distribution Channels
The Complete Guide To The Ways To Manufacture & Sell Your Products

 

Advertisements

China Unemployment May Explain U.S. Unemployment- By NEIL SISKIND

The unemployment in China rate is below 3%. I have no idea how they calculate their employment rate or their labor participation rate- with all those people and all those farms … who knows what goes into the number. One thing for sure- lots of those jobs are in poor conditions, have no benefits, provide for long hours, exist in hot factories, and pay low wages. Well- by definition, China has low wages … that’s the whole point of using China for manufacturing. So, what does low unemployment in China tell us- it tells us that any old job with hopeless prospects and no wage growth doesn’t mean a heck of lot to the workers- but only to China’s wealthy who profit from this. If wages rise and prices rise as a path to growth, China would cease to be China. China grows because living standards for so many never can rise because wages are so low- and pricing power for businesses is not a concept so that wages can stay suppressed, and of course, so that exports continue.

Even China, itself, says that low rates (and low prices and  low wages- all leading to high growth) have caused speculative asset bubbles, making housing, eventually, if not already, totally unaffordable.

What can this tell us about our own low unemployment rate? Figure it out for yourself.

Debt, Debt, Debt, Debt, Debt, Debt, Debt- by NEIL SISKIND

What allows consumers to spend more as their incomes remain stagnant, causing CPI to be strong and company revenues to rise? Debt.

What allows businesses to buy back share with excess earnings from tax cuts so that they can increase their EPS? Government debt. When earnings rise today, this is only the start of the analysis. Tax cuts add to the national debt. How will they be paid for? How much will they cause interest rates to rise? Earnings rise, but we will all pay for it with higher interest rates unless they really trickle down- including in rising wages.

As interest rates rise- so will business’s costs of debt. And they are rising.

How do governments afford tax cuts? Debt- the national debt.

I almost wish that the yield curve would invert (well, not really. It would shut down credit). But I’m happy to see the yield curve remain flat, rather than steepen- if steepening is solely due to Treasury sales to fund tax cuts and pay down the national debt. Because then we have higher rates without the good reason- organic growth.

All one has to do is look at the 2003-2007 period- earnings were growing, wages were stagnant, housing was not affordable, interest rates were rising- and consumers got buried in debt. And it all came crashing down.

Wall Street Analyst Continue To Deceive- By NEIL SISKIND

Certain analysts continue to talk about profits and revenues, and how business and the economy looks strong- but- as in 2005-2007- they continue to ignore debt- consumer debt, business debt, and government debt.

Revenues grow while wages still remain stagnant. What is financing sales growth? How can consumers make the same- yet spend more? Debt.

Business earnings grow due to share buybacks raising EPS. How? Tax cuts (i.e. government debt). If tax cuts don’t result in wage increases and long term sustainable growth- then it’s just debt- debt that we pay for with higher long term interest rats.

As for businesses, when we see earnings, we don’t get debt insight. Earning reflect the cost of debt by reflecting debt service expenses, sure- but we don’t see the total debt principal on a company’s books used to reach those earnings.

Beware of debt.

Should The Math of Economics Be Re-Calculated?- By NEIL SISKIND

As the Philips curve seems to be less and less on-point or relevant to a modern economy, where businesses grow larger and larger, small businesses get marginalized more and more, wages at large companies grow more more slowly, and labor has less and less leverage- combined with globalization pushing wages ever downward- perhaps time-tested economic theories of all kind should start to come under scrutiny to determine if they will hold up in the digital age together with a global economy.

The Bank of Japan has indicated that its long-lived policy on interest rates, to keep them low, may shift, as years of experiences shows- or proves- that persistently low rates have not sufficiently fueled growth. Likewise, some of us in America who analyze and study economic indicators and data are starting to reconsider the connection between growth, inflation, and interest rates.

It’s possible that low interest rates don’t cause wage inflation- as they have not done so in the U.S., or in China, or in other countries, as well- or price inflation- as the PCE is not really moving much; but, rather, low rates cause American lives to “worsen” by causing asset inflation- housing inflation.

Low interest rates encourage Americans to use houses as investments tools. This causes lower supplies as investors buy for the purpose of deriving income. These investors may be in the United States- or from other countries. Moreover, low interest rates provide affordable homes for those at the top of the economic scale who buy up homes as their respective companies grow larger and larger at the expense of small businesses, leaving little left for those at the lower ends of the scale who have to work and live in the same communities. San Jose and Manhattan are prime examples of this exact kind of  “affordability stress” caused by growth, often fueled by cheap capital.

A low cost of capital helps companies grow ever larger, exchanging margin for volume, stomping out competition, and fueling disinflation. So, low rates may never again lead to higher prices and wages. But stock values and home prices will continue to unduly rise as long as rates are low. Low interest rates help fuel these imbalances (technology, of course, has played a large part in large companies growing larger as small businesses are out-marketed and under-priced).

In the wake of the Philips curve failing to react as expected, perhaps it’s time for economic theorists and practitioners to begin to consider that higher long term interest rates may not suppress growth, so much as they encourage banks to lend where the yield curve steepens and an acceptable and profitable spread is created. This- loan stimulus for business purposes (as distinguished from real estate speculation)- may be more pro-growth than low interest rates, which leads to asset bubbles. What if there is inflation where prices rise because businesses have pricing power, and employees are paid more, and people and businesses can spend more, even where interest rates are higher? Might this not be better than lack of business pricing power, lack of lending incentive, lack of wage growth, lack of GDP growth, lack of growth in living standards? Moreover, a healthy banking system is vital to an economy, and profitable consumer and business lending is necessary to a healthy banking system. Profitable spreads also help lead banks to make less but better loans, rather than the need to make a large volume of bad ones.

In other words, liquidity at reasonable prices is better for an economy than low cost capital that fuels unsustainable asset prices and bubbles and that encourages corporate borrowing to grow market share and diminish or remove competition by keeping prices low and wages low. It’s better to have more costly, but more thoughtful lending and borrowing that is not used to distort commercial and asset markets.

Consider this: Consumer spending is the other side of low wages. Consumers only keep spending because prices are lower, as opposed to because wages are higher. So instead of wage inflation, we have consumer spending. Americans have exchanged better incomes for low priced goods. So, low interest rates are not the cause of consumer spending. CPI inflation and higher consumer spending really just means that incomes are stagnant and pricing power for businesses is declining, allowing consumer to keep shopping without saving. With inflation, we could have higher wages and prices, and lower CPI. Instead we have low inflation and low rates and low wages and low prices, and CPI remains intact.

The point is that to wait for price or wage inflation to raise rates could lead to more bad than good as bubbles form in the face of weak income growth. We’d be better off to encourage price and wage growth with lack of asset bubbles. That is how you grow a sustainable economy. This is what the trade dispute in concert with tightening fiscal policy is attempting to do. The President wants more and better paying jobs and more price control for American businesses, while the Fed tightens and engages in quantitative tightening, partially, to keep asset prices from rising further. The right ideas, at least, are in place. But, the bubble vs. wage weakness dynamic is already ingrained.

Japan is considering that with a steepening yield curve, its banks may be more successful while asset prices will be kept in line. Other kinds of inflation have not been problematic. By allowing rates to rise, Japanese money may move from other nations into Japan’s own bonds, which could be helpful to its government and economy, as Japan is a large exporter of capital.

So, the modern idea of races to the bottom thorough the lowest interest rates, the lowest wages, the lowest prices, and declining living standards, should be reconsidered as inflation in prices and wages is proving to be less problematic than are low wages, slow growth, unproductive bank lending, and expensive housing costs.

______________________

endnotes

At this stage, it’s clear that rising rates will negatively affect home prices and perhaps overall economic growth (well, certainly economic growth were it not for fiscal stimulus), so I’m not suggesting higher interest rates will lead to growth from here. I am referring to a nation’s overall economic philosophy and policies. In other words, put plainly, rate should have risen months ago. Quantitative tightening should have begun before the housing market reached the present level. While rates have remained low, housing prices have risen and wages have been stuck in the mud- a toxic mix. Would employment be much lower or GDP growth much below 4.1% if rates had been higher? Who knows for sure? But, we can also ask, “Would banks be more profitable and would homes more affordable if rates and wages were higher?”.

At this stage, too, longer term rates will begin to rise due to Treasury sales, so raising rates “now”, as opposed to last year, is going to cause pain no matter what.

 

Good Capex vs. Bad Capex- By NEIL SISKIND

Capex numbers seem promising. Businesses are making capex.

Blackstone feels that GDP numbers reflect capex “pulled-forward”, and growth will wane.

If capex works as it’s supposed to, then it requires jobs and people, and hopefully results wage growth. So, capex is not like a tax cut- a one-time bump. It’s a “process” put into place that trickles down, or that uses job growth to beget job growth.

When looked at in this way, Blackstone is wrong in that capex is just a short term pulling-forward of future spending and only provides a one time bump.

But- to the extent that capex is mostly in the form of machinery and technology to increase “automation” so that companies can do with less human labor, then the capex purpose of creating jobs, and then jobs upon jobs and wage growth, will fail … and, in fact, capex, in such case, would be be an overall disservice to jobs and wages, and Blackrock would be more than right about a limited capex bump- just for a different reason.

So, it remains to be seen if we get good capex or bad capex.

 

Neil S. Siskind, Esq., President
The Siskind Law Firm
Tel: 646.530.0006

Neil Siskind is the Founder & Chairman of The Fatherhood Assignment
Neil-Siskind-photo
Learn more at:  http://www.neil-siskind-the-fatherhood-assignment.org/

Neil Siskind is the Conservator of the Neil S. Siskind Nature Preserve
Neil-Siskind-Picture

The Neil S. Siskind Nature Preserve is over 7 acres of environmentally-pristine waterfront land in a magnificent setting along New York’s majestic Hudson River. The Preserve includes a variety of species of animal and plant life, and is a precious example of the thoughtful maintenance of New York’s priceless open spaces. The land’s uses are limited to outdoor recreation such as hiking and climbing, and the study of ecology, nature and land use. The Neil S. Siskind Nature Preserve allows for the intelligent contemplation of our valuable natural resources and the most effective ways to maximize them and keep them protected.

Neil Siskind, Founder, “National Fatherhood Day” – March 29th

Neil-Siskind-pics
To encourage recognition of the needs of boys and girls who are living without fathers or father-figures in their lives.

Read about the non-profits and charities whose missions Neil Siskind supports and promotes: www.neilsiskindsupports.com
Caring is Free®

You can read what clients and associates say about Neil Siskind at: http://siskindlawfirm.com/neil-siskind-bio/.

Neil Siskind’s Volunteer Work:

– Memorial Sloan Kettering Cancer Center, Volunteer

– Memorial Sloan Kettering Cancer Center, My Fundraiser- Help Neil Siskindhelp children with cancer to be more comfortable: http://mskcc.convio.net/site/TR?px=3182108&fr_id=2632&pg=personal

– Make-A Wish Foundation- Help Neil Siskind make sick children’s wishes come true by creating your own fundraiser: Neil-Siskind/Help-Make-A-Child-Smile.htm

– DonorsChoose.org- Donate to one of my needy public classrooms: http://www.donorschoose.org/NeilSiskindGiving

– Champion Children– We seek to inspire people through stories of children who have overcome challenges: http://siskindlawfirm.com/neil-siskind-champion-children/


Neil Siskind’s Pro Bono
 Work:

– Saving Senior Citizens- Protecting New York’s senior citizens from fraud and financial abuse www.savingseniorcitizens.com

– Senior FreeStart Business– Pro Bono: We seek to help put senior citizens in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– Veteran FreeStart Business– Pro Bono: We seek to help put Iraq and Afghanistan war veterans in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– In development: The Neil S. Siskind School of Hope: A free school to teach inner-city youths the skills of entrepreneurship and importance of economic self-sufficiency.

Neil Siskind’s Government Work:

– Suffolk County District Attorney’s Office, Boston, MA, 1994, Intern
– Office of Senator Christopher J. Dodd, Newington, CT, 1992, Intern
– Hartford County Department of Probation, Hartford, CT, 1991, Intern

Neil Siskind’s Community Assistance:

Financed & operated a legal clinic providing low-cost legal services to struggling Long Islanders during the recession to help clients resolve debt, organize finances, and launch new businesses.

Neil Siskind’s Professional Curriculum Vitae: http://neilsiskind.com/

Sponsored Advertisements

Inventors, IP Owners, Manufacturers
Learn How To Bring Products To Market And To Expand Your Distribution Channels
The Complete Guide To The Ways To Manufacture & Sell Your Products

 

Yelp and TripAdvisor – OMG

I read these reviews and wonder to myself if these people on these sites have souls … or hearts. They insult people’s livelihoods, and their properties, and their businesses, and their employees, and their hopes and dreams and sweat and tears that they’ve put into their businesses. I have to assume that these reviewers never built or owned a business (and never could with such negative views and dark hearts… and so much free time … entrepreneurship requires positive views of life and being productive) and lack something called compassion. Golly gee … these business owners have children for God’s sake! Is this what you write on public forums about people who have children reading it? You can comment on a business without crudeness or rudeness or harshness. Maybe I’m overly sensitive- but these websites are harsh forums for harsh people, as far as I can see. I wonder if the creators of these sites are proud of themselves. Even Twitter is finally showing some shame and clearing its site of unnecessary meanness. Maybe Yelp and TripAdvisor and other “review” (read: insult) websites should think about it, too. I don’t know how people operate these business review sites and sleep well at night with the way their creations are being used. Not to mention all the lies, fake information, and made up stories- how did these sites get around the fake news movement?

The Secret Risks For Banks And Lenders- By NEIL SISKIND

Collateral for business loans has always been the same: generally, hard assets that are worth greater than the loan amount. But, the hard assets of yesterday … or of yester-century, do not maintain their values as they once did for the time periods they once could. Office equipment, inventory, technologies, IP- they all become outdated or obsolete so rapidly, and are easily replaceable at cheaper and cheaper prices, or better and with better and cheaper technologies, such that collateral does not hold up.

Even in the case of IP, it becomes outdated quickly by newer innovations, and, when it’s not outdated, capitalizing on IP is so expensive as competitive IP from competitive companies that are growing larger and larger, that it’s hard for a lender to know what security it really has. For example, a borrower-company may have IP for a home improvement product or service. In today’s market, if Home Depot or Lowe’s doesn’t buy the product or promote the service, or if they have their own version of it, the IP will be difficult to monetize, as less and less independent hardware stores remain in our communities, and launching a product without big box retail support is so expensive and difficult, even online.

Even office products, trucks, and computers, all, seemingly, obviously needed by businesses, can be bought online everywhere from all the small businesses failing due competition from the Internet, from foreign exporters that provide cheaper versions, and from companies moving to shared work spaces, where the office provides all the equipment. Even office space itself is less predictable in terms of obsolescence. There is so much of it that is vacant. As for trucks used by businesses, they may be about to be, somewhat, challenged by self-driving trucks, making existing models slower, and more costly, and less desired than modern versions. This won’t happen soon, perhaps, but its exemplifies how rapid technological change cause all assets to be unpredictable as loan security.

Inventory is marked down rapidly and considered to be “aged” is super-digital time. Consumers want new and fresh, and excess discounted products are everywhere- and the best of it that people want are at the largest discount retailers, like TJMaxx and Ross Stores, and can be found online at EBAY, causing UCC liquidation sales and auctions to be as outdated as brick and mortar retail, itself.

Manufacturing equipment is rendered obsolete by changes in technology as well as by policies related to taxes and trade. Capex affects present equipment, and location of manufacturing affects values.

While collateral almost always goes down in value in downturns, it’s not always a downturn that leads to a default, and a lender should be adequately secured. Regardless, hard assets have never become obsolete so rapidly in our history, as is now happening.

The best collateral is assignments of receivables. It’s the only, reasonably, determinable value in a digital and fast-changing world (of course, the obligor or counterparty on such receivables has to be a solid debtor, or else the value of that payable is also challenged).

Real estate is also a great option for collateral for a bank, but not all small businesses- or businesses, in general, own real property. Moreover, this fast-moving world has even made real estate – retail and office- obsolete. In any event, real estate, in general, is at a very high price and priced at high valuations. Any loans made now that pay a portion of present value based on a determined loan-to-value ratio may not recoup such value upon default in an economic downturn.

Another concern for banks is that because of hard money lending (or “non-traditional” lending), banks could see their security (real property or otherwise) severally damaged by that hard money unknown. Non-traditional lenders (due to low interest rates and institutional search for yield) have seen unprecedented growth in recent years and have unprecedented influence on credit markets- perhaps, ultimately, a bad influence. While banks are forced to use lending standards and guidelines, hard money is not. Hard money that has helped elevate asset values, may be skewing present values unduly upward. And how will hard money react when it has defaults? Do these lenders have the internal systems, and default management skills, security enforcement procedures, foreclosure experience, and capital reserves to withstand defaults, while continuing to operate? Or will they cut and run, and flood the market with equipment and properties, and cause prices on similar assets to crater?

So, banks and lenders have concerns- but for banks, other kinds of lenders are part of their concerns- or should be.

Banks and lenders need to be more careful and thoughtful than ever when making loans to businesses. Business and technology changes rapidly these days- and so does the value of collateral. Also, there are non-traditional lenders in the markets with lower lending standards and less experience in holding loans for the long term.

Systemic risk could be hiding, not in loans to bad borrowers, but in loans secured by bad collateral rendered obsolete by a rapidly changing world, or collateral negatively affected by bubbles and crashes due to inexperienced and under-capitalized lenders.

While all of us deal with the unknown and rapidly changing technologies that change products and industries so fast, which provides economic risk- for banks, it provides systemic risk.

Earlier in the century, weak borrowers and over priced assets caused risks to banks- ones that materialized. The secret risks for banks and lenders today is: (a) rapid change that is occurring with historically unprecedented speed that makes collateral outdated and obsolete, in combination with (b) inexperienced and un-seasoned excess, hard liquidity bidding-up asset prices. And the national nature of our financial system, just like last time, makes these risks- risks to us all.

____________________________________

endnote

Banks, due to Dodd Frank, have good liquidity. But, rising interest rates, and even a steeper yield curve, while good for banks, are not good for hard money lenders, which borrow low and loan high, because the “high” will become too high to make any sense for most borrowers. At low rates, a hard money loan can make sense, especially as the lower rates cause higher asset values, because hard money can make an acceptable spread with acceptable risk. While hard money is often financed by loans they take from banks, another way that hard money lenders get capitalized is with investor equity. But equity investors will seek fairly balanced risk-rewards, and as rates rise, can find it in sovereign (mostly, U.S.) treasury bonds, or even in cash equivalents. They may reject the risks that come with hard money loans. Plus, rising interest rates can, simply, make this equity less available. What this means for the rest of us is that less capital for businesses and real estate will be available- at reasonable rates, at least. Markets could be surprisingly affected by significantly less liquidity from non-traditional lenders as rates rise. The fact is, no one really knows what assets are funded by traditional vs. non-tradition capital.

 

 

 

Neil S. Siskind, Esq., President
The Siskind Law Firm
Tel: 646.530.0006

Neil Siskind is the Founder & Chairman of The Fatherhood Assignment
Neil-Siskind-photo
Learn more at:  http://www.neil-siskind-the-fatherhood-assignment.org/

Neil Siskind is the Conservator of the Neil S. Siskind Nature Preserve
Neil-Siskind-Picture

The Neil S. Siskind Nature Preserve is over 7 acres of environmentally-pristine waterfront land in a magnificent setting along New York’s majestic Hudson River. The Preserve includes a variety of species of animal and plant life, and is a precious example of the thoughtful maintenance of New York’s priceless open spaces. The land’s uses are limited to outdoor recreation such as hiking and climbing, and the study of ecology, nature and land use. The Neil S. Siskind Nature Preserve allows for the intelligent contemplation of our valuable natural resources and the most effective ways to maximize them and keep them protected.

Neil Siskind, Founder, “National Fatherhood Day” – March 29th

Neil-Siskind-pics
To encourage recognition of the needs of boys and girls who are living without fathers or father-figures in their lives.

Read about the non-profits and charities whose missions Neil Siskind supports and promotes: www.neilsiskindsupports.com
Caring is Free®

You can read what clients and associates say about Neil Siskind at: http://siskindlawfirm.com/neil-siskind-bio/.

Neil Siskind’s Volunteer Work:

– Memorial Sloan Kettering Cancer Center, Volunteer

– Memorial Sloan Kettering Cancer Center, My Fundraiser- Help Neil Siskindhelp children with cancer to be more comfortable: http://mskcc.convio.net/site/TR?px=3182108&fr_id=2632&pg=personal

– Make-A Wish Foundation- Help Neil Siskind make sick children’s wishes come true by creating your own fundraiser: Neil-Siskind/Help-Make-A-Child-Smile.htm

– DonorsChoose.org- Donate to one of my needy public classrooms: http://www.donorschoose.org/NeilSiskindGiving

– Champion Children– We seek to inspire people through stories of children who have overcome challenges: http://siskindlawfirm.com/neil-siskind-champion-children/


Neil Siskind’s Pro Bono
 Work:

– Saving Senior Citizens- Protecting New York’s senior citizens from fraud and financial abuse www.savingseniorcitizens.com

– Senior FreeStart Business– Pro Bono: We seek to help put senior citizens in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– Veteran FreeStart Business– Pro Bono: We seek to help put Iraq and Afghanistan war veterans in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– In development: The Neil S. Siskind School of Hope: A free school to teach inner-city youths the skills of entrepreneurship and importance of economic self-sufficiency.

Neil Siskind’s Government Work:

– Suffolk County District Attorney’s Office, Boston, MA, 1994, Intern
– Office of Senator Christopher J. Dodd, Newington, CT, 1992, Intern
– Hartford County Department of Probation, Hartford, CT, 1991, Intern

Neil Siskind’s Community Assistance:

Financed & operated a legal clinic providing low-cost legal services to struggling Long Islanders during the recession to help clients resolve debt, organize finances, and launch new businesses.

Neil Siskind’s Professional Curriculum Vitae: http://neilsiskind.com/

Sponsored Advertisements

Inventors, IP Owners, Manufacturers
Learn How To Bring Products To Market And To Expand Your Distribution Channels
The Complete Guide To The Ways To Manufacture & Sell Your Products

 

China: A Dangerous Sign; A Dangerous Path- By NEIL SISKIND

Seeing a nation lower its banks’ capital reserve requirements simply because its economy is slowing is downright scary. Reserve requirements, are, allegedly, high enough in China. But, the shadow banking leverage problem is not resolved, and allowing banks to lend more- or hoping that they lend more- as businesses’ sales slow, is a bad policy and a bad sign. Bank capital reserves should be lowered when, and only when: (i) They have enough reserves on hand, and (ii) opportunities abound. It should not be just out of fear of slowing.

 

 

Neil S. Siskind, Esq., President
The Siskind Law Firm
Tel: 646.530.0006

Neil Siskind is the Founder & Chairman of The Fatherhood Assignment
Neil-Siskind-photo
Learn more at:  http://www.neil-siskind-the-fatherhood-assignment.org/

Neil Siskind is the Conservator of the Neil S. Siskind Nature Preserve
Neil-Siskind-Picture

The Neil S. Siskind Nature Preserve is over 7 acres of environmentally-pristine waterfront land in a magnificent setting along New York’s majestic Hudson River. The Preserve includes a variety of species of animal and plant life, and is a precious example of the thoughtful maintenance of New York’s priceless open spaces. The land’s uses are limited to outdoor recreation such as hiking and climbing, and the study of ecology, nature and land use. The Neil S. Siskind Nature Preserve allows for the intelligent contemplation of our valuable natural resources and the most effective ways to maximize them and keep them protected.

Neil Siskind, Founder, “National Fatherhood Day” – March 29th

Neil-Siskind-pics
To encourage recognition of the needs of boys and girls who are living without fathers or father-figures in their lives.

Read about the non-profits and charities whose missions Neil Siskind supports and promotes: www.neilsiskindsupports.com
Caring is Free®

You can read what clients and associates say about Neil Siskind at: http://siskindlawfirm.com/neil-siskind-bio/.

Neil Siskind’s Volunteer Work:

– Memorial Sloan Kettering Cancer Center, Volunteer

– Memorial Sloan Kettering Cancer Center, My Fundraiser- Help Neil Siskindhelp children with cancer to be more comfortable: http://mskcc.convio.net/site/TR?px=3182108&fr_id=2632&pg=personal

– Make-A Wish Foundation- Help Neil Siskind make sick children’s wishes come true by creating your own fundraiser: Neil-Siskind/Help-Make-A-Child-Smile.htm

– DonorsChoose.org- Donate to one of my needy public classrooms: http://www.donorschoose.org/NeilSiskindGiving

– Champion Children– We seek to inspire people through stories of children who have overcome challenges: http://siskindlawfirm.com/neil-siskind-champion-children/


Neil Siskind’s Pro Bono
 Work:

– Saving Senior Citizens- Protecting New York’s senior citizens from fraud and financial abuse www.savingseniorcitizens.com

– Senior FreeStart Business– Pro Bono: We seek to help put senior citizens in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– Veteran FreeStart Business– Pro Bono: We seek to help put Iraq and Afghanistan war veterans in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– In development: The Neil S. Siskind School of Hope: A free school to teach inner-city youths the skills of entrepreneurship and importance of economic self-sufficiency.

Neil Siskind’s Government Work:

– Suffolk County District Attorney’s Office, Boston, MA, 1994, Intern
– Office of Senator Christopher J. Dodd, Newington, CT, 1992, Intern
– Hartford County Department of Probation, Hartford, CT, 1991, Intern

Neil Siskind’s Community Assistance:

Financed & operated a legal clinic providing low-cost legal services to struggling Long Islanders during the recession to help clients resolve debt, organize finances, and launch new businesses.

Neil Siskind’s Professional Curriculum Vitae: http://neilsiskind.com/

Sponsored Advertisements

Inventors, IP Owners, Manufacturers
Learn How To Bring Products To Market And To Expand Your Distribution Channels
The Complete Guide To The Ways To Manufacture & Sell Your Products