Yearly Archives: 2013

Indian government again urges Indians not to buy gold

"India's Finance Minister P Chidambaram has appealed to the people, once again, to moderate their demand for gold. While insisting that the government would not rule out a complete ban on gold imports, as has been discussed in some quarters, he pointed out the precious metal has cost the nation $50 billion in foreign exchange. Stating that there is a long time attachment to gold in India, the minister asked, '... can we for sometime moderate the demand for gold?' Asking investors to cut down on their purchases as a starting point, Chidambaram suggested buying 10 grams of gold if one was inclined to buy 20 grams of gold." Continue reading →

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Swiss top the tables for household savings

"Switzerland tops a list compiled by Handelsblatt for money saved on average by average households. The Swiss put aside 17.5 percent of gross income into savings last year. This may not be entirely surprising given that incomes in the mountain country are three to four times as high as in most European countries. Switzerland’s unemployment rate of 2.9 percent in June compares with an average in the European Union of 12.1 percent in May, according to Eurostat. The report highlights a growing divide between wealthy northern countries and poorer countries in southern Europe. In Greece, the rate was negative 6.4 percent as citizens dug into existing reserves." Continue reading →

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10 things Social Security won’t tell you: The truth about the agency’s bottom line

"About a third of workers in their 50s expect Social Security benefits to be their primary source of income in retirement. The Social Security Administration itself has said that unless something is done to reform the system, it will have to reduce benefit payments to retirees within the next few decades. Less talked about, perhaps, is the concern that the program is having a hard time paying its bills today. In 2010, the Social Security Administration began collecting less revenue in taxes than it needs to cover benefit payments, forcing the agency to tap its $2.7 trillion trust fund sooner than some had expected." Continue reading →

Continue Reading10 things Social Security won’t tell you: The truth about the agency’s bottom line

10 things baby boomers won’t tell you: The aging Me generation is still putting itself first

"Boomers are expected to live longer than any previous generation. At the same time, many haven’t saved nearly enough for retirement. More than 44% of early boomers (defined as those born between 1948 and 1954) and 43% of late boomers (born between 1955 and 1964) may not be able to afford basic living expenses in retirement. [..] Nearly one in six people ages 45 to 64 say that paying for their kid’s college tuition got in the way of saving for their own retirement. That’s not surprising, given that the typical middle-income family will spend more than $230,000 to raise a child from birth to age 18, up 23% (in today’s dollars) since 1960." Continue reading →

Continue Reading10 things baby boomers won’t tell you: The aging Me generation is still putting itself first

Jeffrey Tucker: Is There A Viable Alternative To College?

"We are going to see the emergence of more credible one- and two-year alternatives to college. These programs will combine real work experience with rigorous learning and cost a small fraction of college. It can’t work for some professions like law and medicine, mainly because of government controls and guild-like admissions certifications. But in fields like technology, design, and business, this seems like a great idea. Sound good? I know of two such programs now. These programs smash the paradigm that’s been around since after the Second World War. They are the grass growing up in the sidewalk cracks." Continue reading →

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Bill Bonner: The war on the young

"Rules, regulations, restrictions - he doesn't recall voting for a single one. Instead, they were imposed upon him. So were the costs of today's omni-eternal state with claims - in the US alone -- on (according to Niall Ferguson) some $238 trillion of future output. Dear reader, between the time when we grew up and today the world has changed. It has been taken over by zombies, desperate to drain the future so they can enjoy it now. Old people get their benefits. Their laws. Their privileges. They get to have things more or less as they want them. And the young? Take it or leave it. No wonder so many are trying to leave." Continue reading →

Continue ReadingBill Bonner: The war on the young

Fearful Indian schoolchildren refuse free school meals after 22 die, dozens sickened

"India’s state governments run the world’s largest school feeding programme involving 120 million children. Bihar is one of India’s most populated and poorest states. Educators see the scheme as a way to increase school attendance, in a country where almost half of all young children are undernourished. But children often suffer from food poisoning due to poor hygiene in kitchens and occasionally sub-standard food. Authorities have instructed all teachers and cooks in the state to first taste the free lunch before serving to the children. 'We will have to make parents believe that mid-day meals provide nutrition and are not meant to kill students,' said Lakshmanan." Continue reading →

Continue ReadingFearful Indian schoolchildren refuse free school meals after 22 die, dozens sickened
Read more about the article ‘Pension Paupers’: Dream Time Collapses in Britain

‘Pension Paupers’: Dream Time Collapses in Britain

"Pensioners living on pocket money as savings crisis hits millions ... Almost two million retired adults in the UK have less disposable income than the average 11 year-old, as Britain's savings crisis creates a generation of 'pension paupers'. A new survey last night said 15 per cent of men and women in retirement have an income of less than £154 a week, which falls to £8 after essential living costs. Insurance giant LV= claimed the situation was only likely to get worse as over 50s cut the amount they put into their pension pots to cope with the cost of living." Continue reading →

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‘Frustrated’ Monsanto withdraws all EU approval requests for new GMO crops

"The move reflects the frustration felt by many biotech companies towards the EU's approval system for GMOs. Decisions routinely face years of delays, and only three varieties have ever been given the green light for cultivation. While Monsanto's MON810 maize has been approved for cultivation throughout the EU, several countries including France, Germany and most recently Italy have imposed national bans, driven by strong public opposition to the technology. Last year, German biotech producer BASF halted the development of genetically modified crops in Europe and moved all of its European GMO research operations to the United States." Continue reading →

Continue Reading‘Frustrated’ Monsanto withdraws all EU approval requests for new GMO crops

Colbert: If poor people want food stamps, they should become massive corporations

"'The Farm Bill is a routine piece of legislation that provides subsidies for farmers while setting aside money for food stamps. It’s a win-win, help for the folks who grow the corn and help for folks who live on nothing but corn syrup.' 'But, last week, House Republicans agreed to an historic compromise on food stamps,' said Colbert, 'by eliminating the food stamps.' 'It is a principled conservative message based on the old adage, ‘Give a man a fish and he’ll eat for a day. Take away his food stamps, and he’ll found FishCo, a multinational food conglomerate that gets a massive subsidy in the next Farm Bill.’'" Continue reading →

Continue ReadingColbert: If poor people want food stamps, they should become massive corporations