Monthly Archives: September 2013

Hospital doctors join thousands protesting Greece’s austerity layoffs

"Greek doctors on Tuesday joined the latest wave of strikes to hit the debt-stricken country, with thousands of public sector workers protesting against government plans for lay-offs and redeployments. In Brussels, however, European Commission President Jose Manuel Barroso said during a visit by Greek Prime Minister Antonis Samaras that the unpopular policy of austerity was showing results in Greece and must be pursued to the end. Teachers from schools and universities, civil servants and lawyers are also on strike, in protest at reforms that Samaras’ centre-left coalition government is undertaking in return for international bailout funds." Continue reading →

Continue ReadingHospital doctors join thousands protesting Greece’s austerity layoffs

Greece axes vacation bonus for civil workers using computers

"Recession-wracked Greece plans to scrap a perk for its civil servants who enjoy an extra six days of holiday per year — if they use a computer at work. Greece’s civil service union, Adedy, said the perk stemmed from a decision in the 1990s to give employees 20 minutes off per day to protect them from eye damage from staring at a computer screen. This was then extended on an annual basis, resulting in six days off per year. Now in its sixth year of recession, Greece has been obliged to adopt austerity measures, including pay and pension cuts that have caused widespread resentment, in return for a massive EU-IMF bailout deal." Continue reading →

Continue ReadingGreece axes vacation bonus for civil workers using computers

Farm subsidies on the rise in the world’s biggest economies

"Farm subsidies in the world’s biggest economies rose in 2012, the OECD said, reversing a long-term trend as governments poured more funding into agriculture despite strained budgets and high food prices. In its annual report on global farming, the OECD said state support for farming stood at an average of one-sixth of gross farm receipts in the 47 countries covered in the assessment, about 17 percent of total receipts in 2012 compared to 15 percent in 2011. The Organisation for Economic Cooperation and Development said the rise was unnecessary as high prices for farmers made the timing opportune for governments to cut subsidies that skew food markets and disrupt trade." Continue reading →

Continue ReadingFarm subsidies on the rise in the world’s biggest economies

Pension Funds: The $4 Trillion Problem

"Using the lower, safer growth rate of 3.22%, the unfunded liability in Pennsylvania’s two pension plans grows to a combined $156 billion. This different form of measuring liabilities produces some truly scary results. In five states, State Budget Solutions calculates pension liabilities represent more than 40% of the entire state economy. In two states — Ohio and Mississippi — the pension costs are equal to more than half the state’s gross production. On a per-capita basis, it’s equally worrisome. There are five states where the unfunded pension liability would represent a per capita cost of more than $20,000, with Alaska leading the way, at more than $32,000 per person." Continue reading →

Continue ReadingPension Funds: The $4 Trillion Problem

Peter Schiff: The Taper That Wasn’t

"The Fed's failure today to announce some sort of tapering of its QE program, despite the consensus of an overwhelming percentage of economists who expected action, once again reveals the degree to which mainstream analysts have overestimated the strength of our current economy. The Fed understands, as the market seems not to, that the current 'recovery' could not survive without continuation of massive monetary stimulus. Mainstream economists have mistaken the symptoms of the Fed's monetary expansion, most notably rising stock and real estate prices, as signs of real and sustainable growth. But the current asset price bubbles have nothing to do with the real economy." Continue reading →

Continue ReadingPeter Schiff: The Taper That Wasn’t

Danger! Exploding Wealth Gap!

"We don’t just have an economic bankruptcy, but we also have a moral and ethical bankruptcy taking place on top of the threat of war, and the fact that most governments are taking away freedoms and personal initiatives by making them people dependent on state handouts. We also have the very dangerous situation where the rich are getting richer and the poor are getting poorer. Since 2009, the wealthiest 7% have seen their wealth increase by 28%, while the other 93% have seen their wealth decline by 4%. If you take the wealthiest 300 in the world, they have more wealth than the poorest 3 billion. This is very dangerous for a world which that will have more and more people going hungry." Continue reading →

Continue ReadingDanger! Exploding Wealth Gap!

Florida Official: “Abandon Jesus if You Want to Feed the Poor.”

"The Department of Agriculture goes to a lot of trouble getting Congress to tax Americans. This is necessary so that the USDA can buy food from farmers at above-market prices. This reduces the amount of affordable food available to the poor. The USDA gives it away to state agencies. These agencies then give it away to charitable groups. They in turn give food to the hungry. One non-profit outfit in Florida has given away free food for 31 years. But not any longer. It turns out that this group — Christian — mentions Jesus to the poor people it ministers to. It took 31 years for some low-level government bureaucrat to put two and two together. 'What’s this? They talk about Jesus? Well, that’s got to stop.'" Continue reading →

Continue ReadingFlorida Official: “Abandon Jesus if You Want to Feed the Poor.”

Man gets drunk randomly because his own body brews beer from carbs

"A Texas man who was struggling with episodes of sudden and unexplained drunkenness was found to have alcohol-producing microbes in his gut, which were busily making beer. Health care workers were baffled. Initially they assumed that the man was being dishonest and was drinking on the sly. They checked the patient in to a hospital room for 24 hours and made absolutely sure that he had not smuggled in any alcohol. They fed him foods rich in carbohydrates. Sure enough, his blood alcohol content began to spike on its own. The man, who was an avid home brewer, had an abundance of brewer’s yeast in his gut, making his intestines act as their own small brewery." Continue reading →

Continue ReadingMan gets drunk randomly because his own body brews beer from carbs