Japan’s Debt Problem Visualized
"A short, visual explanation of Japan's debt crisis by Addogram. Visit http://www.addogram.com to discover and connect the web." Continue reading →
Greece becoming new Kosovo as youth jobless hits 65%
"Latest data from the Greek statistics agency showed the overall jobless rate rose to 27.6pc in May, despite a mass exodus of the best-educated young workers to the US, Australia, Britain and Germany. The figure is likely to rise further as Athens lays off 15,000 public sector workers by the end of next month to comply with European Union-International Monetary Fund (EU-IMF) Troika demands. EU economics chief Olli Rehn said Greek austerity was 'difficult but necessary', and should bear fruit in 2014. The IMF expects public debt to spiral to 176pc this year, and has warned EMU creditor states that they will have to provide substantial debt relief." Continue reading →
Yemen: American Foreign Policy in Action
"Yemeni security forces have been put on high alert amid warnings of an imminent attack by al-Qaeda in Sana’a, as the US and Britain withdrew embassy staff and urged their citizens to leave the country. BBC Arabic quoted a Yemeni security source as saying 'extraordinary and unprecedented' security measures had been taken, with armoured vehicles deployed at the presidential palace and other sensitive government and foreign installations in Yemen’s capital. Dozens of al-Qaeda operatives were said to have streamed into Sana’a in the last few days, apparently to take part in a terrorist attack, the BBC said." Continue reading →
America’s Foster Care System: Test Lab For Big Pharma, Cash Cow For Caretakers?
"Of the more than 400,000 children in the U.S. foster care system, it’s estimated that more than 50 percent are on some sort of psychiatric drug. Money is part of the reason. Foster parents are paid more to take care of a child with mental health issues. On average, a foster family earns about $17 a day for taking in a child who needs a basic level of care. But a child who is taking drugs such as antidepressants, antipsychotics, mood stabilizers, anxiety medications or anticonvulsant medications is worth around $1,000 a day. And foster parents are not responsible for paying for the medicines, either, as they are covered by Social Security." Continue reading →
Scientists propose developing more potent mutant bird flu for research
"Scientists proposed developing a more potent strain of the deadly H7N9 bird flu on Wednesday to examine how mutant forms might spread among humans, a topic that has stoked global alarm in the past. US health authorities said any new H7N9 experiments that seek US funding would undergo a new, strict safety review, after concerns over such research on another bird flu, H5N1, in December 2011 raised fears that terrorists could unleash a virulent lab-grown strain and cause mass deaths." Continue reading →
Gold, the Titanic & Lifeboats – Why it’s Important to Own Physical Gold
"Why it is so important to own physical gold in the actual context and why the spot price doesn't matter that much in determining the real value of gold. We try to explain this by making an historical parallel with the Titanic shipwreck." Continue reading →
Think Government Is Intrusive Now? Wait Until E-Verify Kicks In
"If this part of the bill passes, all employers will be forced to use the government-run, Web-based system that checks potential employees' immigration status. That means, every American will have to obtain the federal government's prior approval in order to earn a living. E-Verify might seem harmless now, but missions always creep and bureaucracies expand. Surely we should link E-Verify to the criminal records of pedophiles? And why not all criminal records? We don't want alcoholic airline pilots, disbarred doctors, fraudster bankers and so on. E-Verify will be attractive as a way to enforce hundreds of other employment laws and regulations." Continue reading →
Rahm’s Chicago: $1 Billion Financial Shortfall Forecast by 2015
"Chicago Mayor Rahm Emanuel released the city’s second Annual Financial Forecast on Wednesday. Not only does the report predict a $369 million financial shortfall for the city's operating 'budget' in 2014, but it also predicts a shortfall of more than $1 billion by the year 2015. On Thursday, Breitbart News reported the city’s payroll is more than $2.4 billion, with over 2400 city employees (not including school employees) making over $100,000 a year. The payroll is by far the highest expense for the city, yet in the Financial Forecast report, it is expected to increase by $100 million in 2014." Continue reading →
Jeffrey Tucker: The Triumph of Scrooge McDuck
"CNBC says, 'According to research from American Express Publishing and Harrison Group, the savings rate of the wealthiest 1% in the second quarter rose to 37%. That’s up from 34% in the second quarter of 2012 — and more than three times their savings rate in 2007.' In other words, their saving is actually increasing, even given the evidence that the everlasting recession has abated in some ways, which suggests that this class has little confidence that the high stock market and seemingly good news that trickles out are really sustainable. They are preparing for the next crisis in ways they wish they had prepared for the last one." Continue reading →
Bond Losses at Federal Reserve Top $192 Billion In 3 Months
"Granted, the Bernanke & Co. does not value its massive bond portfolio on a mark-to-market basis. But the surge in interest rates has already erased almost $200 billion in the Federal Reserve’s capital. But that’s not all. If interest rates continue to head higher, the value of the Fed’s liquid assets that it could sell would decline and further undermine its capital cushion. And if the velocity of rate increases intensifies, the Fed, with only $62 billion in capital, could see its entire capital base completely wiped out. This could have a serious domino effect. It could paralyze the Fed’s ability to defend the dollar’s purchasing power." Continue reading →
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