economic Trends

Chinese ‘re-education’ labor camps set for abolition

"It is another signal that the widely criticised system — where people can be sentenced to up to four years’ 're-education' by a police panel, without an open trial — is coming to an end. The comments come after the Communist Party’s new leader Xi Jinping said the party recognised as a 'pressing problem' that it was 'out of touch with the people'. About 60,000 people are detained in the camps, officials say, most of whom serve from six months to a year. Opponents say the camps are used to silence government critics and would-be petitioners who seek to bring their complaints against officials to higher authorities." Continue reading →

Continue ReadingChinese ‘re-education’ labor camps set for abolition

Obama turns ‘austerity inauguration’ into a dash for corporate cash

"What a lot has changed in four years. As Obama prepares to revel in his second inauguration, on Monday, there is no ceiling on what an individual can give, corporations and lobby groups are very welcome and the presidential inaugural committee has been going on a fundraising binge as though there was no tomorrow. On surface appearance, the inauguration is a sober and scaled-down affair compared with 2009. But don’t be fooled by the outward semblance of austerity. In fact, says the government transparency watchdog, the Sunlight Foundation, this year’s inauguration has been turned into an orgy of cash generation." Continue reading →

Continue ReadingObama turns ‘austerity inauguration’ into a dash for corporate cash

Rapper Lupe Fiasco thrown out of inaugural party after criticizing Obama during performance

"The video also shows Fiasco seemingly doing an a capella freestyle rap away from the microphone while members of the crowd cheer. Buzzfeed quoted Josh Rogin, a writer for The Cable, as saying Fiasco went on 'an anti-Obama diatribe mid-set' and stayed on stage for 30 minutes without doing a different song. The footage does show Fiasco talking to security personnel before being led off the stage." Continue reading →

Continue ReadingRapper Lupe Fiasco thrown out of inaugural party after criticizing Obama during performance

Sex is major reason military commanders are fired

"Sex has proved to be the downfall of presidential candidates, members of Congress, governors and other notables. It's also among the chief reasons that senior military officers are fired. At least 30 percent of military commanders fired over the past eight years lost their jobs because of sexually related offenses, including harassment, adultery, and improper relationships, according to statistics compiled by The Associated Press. The figures bear out growing concerns by Defense Department and military leaders over declining ethical values among U.S. forces." Continue reading →

Continue ReadingSex is major reason military commanders are fired

VA spending more on erectile dysfunction drugs for vets

"The U.S. Department of Veterans Affairs has almost tripled spending on erectile dysfunction drugs in the past six years as war-related psychological disorders contribute to sexual difficulties. The surge in drug spending reflects the number of troops returning from wars in Iraq and Afghanistan with issues such as post-traumatic stress disorder and depression, said Jason Hansman, senior program manager for health and mental health programs at the Iraq and Afghanistan Veterans of America, a New York-based nonprofit group. Both conditions can limit sexual functioning, he said." Continue reading →

Continue ReadingVA spending more on erectile dysfunction drugs for vets

U.S. Navy ship stranded on World Heritage-listed coral reef ignored warnings

"A US Navy minesweeper that has been stuck on a World Heritage-listed coral reef in the Philippines since last week ignored warnings to avoid the area, a government official said on Monday. The comments from the superintendent of Tubbataha marine park, Angelique Songco, added to growing anger in the Philippines over the incident, for which the US Navy has apologised but may still face fines. Park rangers radioed the USS Guardian to advise it was nearing the Tubbataha Reef on Thursday, but the ship captain insisted they raise their complaint with the US embassy, Songco told reporters." Continue reading →

Continue ReadingU.S. Navy ship stranded on World Heritage-listed coral reef ignored warnings

New £150million F-35 combat jet is banned from flying in bad weather because it could explode

"The Telegraph has reported the revelations were disclosed in a leaked report from the Pentagon's operational test and evaluation office, which states that, until a device in the fuel tank is redesigned, test-flying within 25 miles of thunderstorms is 'not permitted'. Several other problems have been identified with the plane, including a fault in the design of the fuel tank which means it is unable to rapidly descend to low altitude. A handful of cracks were also discovered in the tested aircraft during examinations by the United States Air Force and the aircraft's manufacturer Lockheed Martin." Continue reading →

Continue ReadingNew £150million F-35 combat jet is banned from flying in bad weather because it could explode

Japan should let elderly ‘hurry up and die’: finance minister Taro Aso

"Japan’s finance minister Taro Aso said Monday the elderly should be allowed to 'hurry up and die' instead of costing the government money for end-of-life medical care. Ageing is a sensitive issue in Japan, one of the world’s oldest countries, with almost a quarter of its 128 million people over 60. That figure is expected to rise to 40 percent within the next half-century. At the same time a shrinking number of workers is placing further strain on an already groaning social security system, with not enough money going into the pot to support those who depend on it." Continue reading →

Continue ReadingJapan should let elderly ‘hurry up and die’: finance minister Taro Aso

Fitch ratings agency highlights threat of aging population time-bomb

"Many advanced economies will be threatened by another, long-term fiscal shock unless they tackle the problem of ageing populations, the ratings agency Fitch warned on Monday. In particular Cyprus, Ireland and Japan, could well see the cost of ageing populations jump over the next decade, the agency said, warning that this would affect the sovereign debt ratings of such countries at some point. 'Luxembourg, Belgium, Malta and Slovenia face the most severe impact over the very long term,' Fitch noted." Continue reading →

Continue ReadingFitch ratings agency highlights threat of aging population time-bomb