Category : Globalization

World Council of Churches forum focuses on poverty, wealth and ecology

More than one hundred international participants, including representatives of churches and civil society, have gathered in Bogor, Indonesia for the Global Forum on Poverty, Wealth and Ecology. On 19 June, they spoke together about poverty eradication and the concepts of economic and ecological justice lying at the heart of Christian ethics.

The forum will continue till 22 June and will conclude the AGAPE (Alternative to Economic Globalization Addressing Peoples and Earth) study process initiated by the World Council of Churches (WCC) in 2006 at its 9th Assembly in Porto Alegre, Brazil.

The AGAPE studies have focused on the relations between poverty, wealth and ecology, undertaken in Africa in 2007, Latin America and the Caribbean in 2008, Asia and the Pacific in 2009, Europe in 2010 and North America in 2011.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Ecumenical Relations, Energy, Natural Resources, Ethics / Moral Theology, Globalization, Poverty, Religion & Culture, Theology

(CS Monitor) Bachelor's degree: Has it lost its edge and its value?

The children of white middle-class, college-educated parents, Hugh Green and Turner Jenkins are just the kind of kids everyone would expect to be stepping out into the world one sunny June day, bachelor’s degrees in hand. But they both veered from the traditional American educational route.

One decided that a bachelor’s was never going to be enough, while the other concluded it was unnecessary….

Once the hallmark of an educated and readily employable adult, the bachelor’s degree is losing its edge. Quicker, cheaper programs offer attractive career route alternatives while the more prestigious master’s is trumping it, making it a mere steppingstone.

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Posted in * Culture-Watch, * Economics, Politics, Children, Consumer/consumer spending, Economy, Education, Globalization, History, Labor/Labor Unions/Labor Market, Marriage & Family, Young Adults

(Techcrunch) Crowd-funded Robots Are On Their Way Says ”˜Mr China’

There’s nothing like a good conference to create opportunities for new deals, and F.ounders last week in New York was just such an event. Indeed, on the panel I ran about the international tech scene, Dimitry Grishin, the co-founder and chief executive of Russian e-mail and social networking giant Mail.ru, sat next to Liam Casey, CEO of PCH International, a man described as “Mr China” for his ability to make, ship and deliver just about any piece of hardware, including some for a well known tech brand you’re probably using right now.

This was perhaps more than fortuitous. For Grishin had that day announced his plans to invest in a personal robotics fund. Grishin Robotics will have $25 million to play with, searching for personal robotics technology and startups catering to everyday people.

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Posted in * Culture-Watch, * Economics, Politics, Economy, Globalization, Science & Technology

(Reuters) Right-to-die movement sees gains as world ages, but opponents active

Assisted suicide has been legal in Switzerland since 1942, if performed by a non-physician who has no direct interest in the death. Euthanasia, or “mercy killing”, is legal only in the Netherlands, Luxembourg, Belgium, and the U.S. state of Oregon.

[Ted] Goodwin said the election of Socialist Francois Hollande as French president could help the euthanasia cause in Europe. Hollande has said he favors euthanasia under strict conditions.

“If France falls into line, I believe Germany will also adopt it. That is a game changer in Europe,” he said, noting support for reform was also gaining traction in Australia and Massachusetts. “Things are happening slowly but surely.”

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Posted in * Christian Life / Church Life, * Culture-Watch, Death / Burial / Funerals, Globalization, Health & Medicine, Law & Legal Issues, Parish Ministry

David Bornstein–A Better Way to Talk About Faith

Is there a way to overcome religious intolerance?

Given global demographic changes, it’s a vital question. “The most certain prediction that we can make about almost any modern society is that it will be more diverse a generation from now than it is today,” the political scientist Robert D. Putnam has written. “This is true from Sweden to the United States and from New Zealand to Ireland.”

In the United States, the question holds special significance for the simple reason that American society is highly religious and highly diverse and ”” on matters concerning faith ”” considerably more politically polarized than a quarter-century ago.

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Posted in * Culture-Watch, * Religion News & Commentary, Globalization, Inter-Faith Relations, Religion & Culture

(WSJ) Citing Syria 'Civil War,' France to Seek U.N. Action

France said Wednesday that Syria has descended into civil war and that all means, including force, should be used under international supervision to help restore peace.

French Foreign Minister Laurent Fabius said he would propose that the United Nations Security Council vote on a resolution giving U.N. members a mandate to intervene in Syria, possibly as part of a military operation.

“The situation is now even more serious and abominable,” Mr. Fabius told reporters. He accused the regime of Syrian President Bashar al-Assad of having used children as human shields, echoing allegations in a report issued Tuesday by the U.N. He also said massacres have multiplied over the past few days in the Middle East country.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Defense, National Security, Military, Europe, Foreign Relations, France, Globalization, Middle East, Politics in General, Syria, Violence

(ENI) Global Alliance calls for Religious Freedom in Sri Lanka

A group of more than 30 religious organizations from 20 countries is calling on Sri Lanka to ensure religious freedom for Christian groups.

In a so-called “Colombo statement,” named after the Sri Lankan capital city, the group called the Religious Liberty Partnership (RLP) asked the worldwide church to pray “against the continued violent attacks on clergy and places of Christian worship,” and for the enjoyment of “constitutional guarantees on religious freedom” by all religious groups.

Members of the RLP include Release International, Christian Solidarity Worldwide, Open Doors, and the World Evangelical Alliance (WEA).

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Asia, Foreign Relations, Globalization, Law & Legal Issues, Politics in General, Religion & Culture, Sri Lanka

The Archbishop of Canterbury’s video message for Rio+20 Conference on Sustainable Development

Governments can, of course, and must, play their part in all this. Governments need to give fiscal incentives to green development. They need to promote programmes that encourage us all to reduce our waste. They need to ”˜green’ our economy, both at home and worldwide. And we, all of us, not least the faith communities, need to collaborate in that and support governments in that vision.

But at root, the question remains the same: what kind of world do we want to hand on? Imagine that you have a child’s or a grandchild’s birthday coming up. You want to give them a present. You want to give them something that will genuinely mean something to them, that will enrich their lives, that will be part of lasting growth and well-being. And that’s what we’re challenged to do here. It’s a challenge that I think will resonate for absolutely everybody across the world. Simply enough: what’s the gift we want to give? The gift of a world that’s more free from pollution, a world whose future is more secure, a world where more people have access to food and clean water and healthcare? Yes. But also a world in which we’re transmitting the wisdom of how to inhabit a world, how to inhabit a limited environment with grace, with freedom, with confidence.

Read it all or, if you choose, watch the video.

Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, --Rowan Williams, Archbishop of Canterbury, Children, Energy, Natural Resources, Ethics / Moral Theology, Globalization, Theology

Globe and Mail–Best pictures from the past 24 hours from this past Sunday

I really enjoy these from time to time, check them out yourself (note in this collection the Corpus Christi theme).

Posted in * Culture-Watch, * General Interest, Globalization

Second day of International Eucharistic Congress begins

The president of the 50th International Eucharistic Congress Archbishop Diarmuid Martin paid warm tribute to other Church leaders in Ireland today for the support they had shown him in his role as Archbishop of Dublin….

“Relations between the churches are extremely good here in Ireland,” Dr Martin said, “and the amount of personal support I have received from Archbishop John Neill (retired Church of Ireland Archbishop of Dublin), Archbishop Jackson (the current Church of Ireland Archbishop of Dublin) and the other church leaders has been astounding.”

He said: “We are doing things together. We are, literally, walking together.”

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Posted in * Anglican - Episcopal, * Culture-Watch, * Religion News & Commentary, Anglican Provinces, Church of Ireland, Ecumenical Relations, Eucharist, Globalization, Other Churches, Religion & Culture, Roman Catholic, Sacramental Theology, Theology

(Washington Post) Europe’s troubles affect wide variety of U.S. firms

From manufacturers in the Midwest to upscale retail shops in Manhattan, a wide variety of American companies are feeling the pinch of Europe’s economic contraction, helping to hold back recovery in the United States.

Ford, the iconic U.S. car company, says that Europeans are not only buying fewer cars, but are replacing fewer parts. Kraft Foods, which is behind such brands as Swedish Fish and Dentyne, says sales of candy and gum in Europe are lagging. And jeweler Tiffany & Co. says fewer European tourists are shopping at its flagship Fifth Avenue store.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, America/U.S.A., Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Globalization, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(NY Times Op-Ed) Preet Bharara–Asleep at the Laptop: the time to prevent Cybercrime is now

…the most important step is the most obvious and fundamental one: understanding the threat in a comprehensive, serious manner. Every member of a board or executive suite is duty bound to protect the institution against material risk, whether they currently possess particular expertise or not. And yet, how many companies have a concrete plan in place to deal with a hack? How many conduct independent audits of their cybervulnerabilities? The answer, many in my position fear, is too few.

Some say we are outgunned. But in my view, it is less a matter of being outgunned than being simply outdated ”” in our thinking and in our vision. Yes, there is an army of computer saboteurs, spies, thieves and nihilists who wish to do us harm. But we have an army, too, or at least the makings of one, which can draw from the best of law enforcement, intelligence, business and academia.

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Posted in * Culture-Watch, * Economics, Politics, --Social Networking, Blogging & the Internet, Defense, National Security, Military, Globalization, Law & Legal Issues, Police/Fire, Science & Technology

Google offers a New Tool for Chinese Users

….starting today we’ll notify users in mainland China when they enter a keyword that may cause connection issues. By prompting people to revise their queries, we hope to reduce these disruptions and improve our user experience from mainland China. Of course, if users want to press ahead with their original queries they can carry on.

In order to figure out which keywords are causing problems, a team of engineers in the U.S. reviewed the 350,000 most popular search queries in China. In their research, they looked at multiple signals to identify the disruptive queries, and from there they identified specific terms at the root of the issue.

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Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Corporations/Corporate Life, Economy, Foreign Relations, Globalization, Law & Legal Issues, Politics in General, Science & Technology

(CSM) Kate Otto–Is Facebook destroying our capacity for meaningful relationships?

…the universalization of a Facebook-powered world is also worrisome. For all the good that comes when we take control of our Facebook accounts and use them for proactive outreach and connection, just as much damage occurs when we allow our accounts to control us, pulling us further apart from the people who are very close by.

For me, and most others of my generation, Facebook strengthened my ability to forge countless “weak ties” at the expense of fewer, but stronger, relationships. Posting regular updates coached me to write rapidly for a faceless mass audience and craft my publicly promoted identity as if it were a brand.

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Posted in * Culture-Watch, * Economics, Politics, --Social Networking, Anthropology, Blogging & the Internet, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Globalization, Pastoral Theology, Psychology, Science & Technology, Theology

(NY Times) Euro Zone Nears Moment of Truth on Staying Together

On consecutive days last week, two of the most powerful figures in Europe ”” Mario Draghi, president of the European Central Bank, and Olli Rehn, the most senior economic official in Brussels ”” warned that the future of the euro zone was in doubt. In the words of Mr. Rehn, the union might well disintegrate unless policy makers took steps to bind the euro’s 17 nations closer together.

Coming as they did from two men at the very soul of the European project, the reprimands were a stark reminder of just how much the Spanish financial meltdown had shaken the confidence of the European brain trust, to say nothing of investors from New York to Beijing.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, France, Germany, Globalization, Greece, Politics in General, Portugal, Spain, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

China Christian Council to host World Council of Churches meeting in China

The meeting will take place from 9 to 16 June, organized by the WCC Commission of the Churches on International Affairs (CCIA) and hosted by the China Christian Council (CCC) and the National Committee of the Three Self Patriotic Movement of the Protestant Churches in China. The CCC, with its 23 million members, is the largest member constituency of the WCC in Asia.

The WCC general secretary, Rev. Dr Olav Fykse Tveit will attend the meeting. This will be his first visit to China since he took office in 2010.

The main deliberations of the CCIA meeting will take place in Nanjing. This will include a seminar on “Understanding China” invoking diverse perspectives on market reforms and development in socialist systems, poverty eradication and environmental sustainability, China’s religions and religious polices, churches in China and other themes.

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Posted in * Culture-Watch, * International News & Commentary, * Religion News & Commentary, Asia, China, Ecumenical Relations, Globalization, Religion & Culture

(ACNS) Anglicans to challenge world hunger at Rio+ 20

High level actions to challenge world hunger, climate change and urban violence have been planned for Anglicans at Rio +20 ”“ the UN’s sustainable development conference.

Rights for landless people will also be on the Anglican agenda at the conference where the Church’s programme has been drawn together by the Alliance’s Latin American and Caribbean facilitator and will be spearheaded by the Anglican Archbishop of Brazil, Most Revd Mauricio Andrade.

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Posted in * Anglican - Episcopal, * Culture-Watch, Dieting/Food/Nutrition, Globalization, Poverty

Syria ”˜Massacre’ Needs International Response, U.K. Says

The U.K. is calling for a “strong international response” following reports of a massacre of civilians by Syrian forces in a town in Homs province.

More than 90 adults and children were killed during shelling and shootings by government forces in Houla in the past 24 hours, the U.K.-based Syrian Observatory for Human Rights said in an e-mailed statement. Explosions were also heard in the city of Homs, it said. British Foreign Secretary William Hague called the killings “an appalling crime” and said the U.K. would be calling for an “urgent” meeting of the UN Security Council.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Defense, National Security, Military, England / UK, Foreign Relations, Globalization, Law & Legal Issues, Middle East, Politics in General, Syria, Violence

(WSJ) Signals Point to Economic Slowdown Around Globe

New signs of a global slowdown are darkening the economic outlook.

On Thursday, measures of business sentiment in Europe slipped and reports from purchasing managers at manufacturers around the world turned down. Among them, China, the world’s second-largest economy, registered its seventh-straight drop in an important index of manufacturing activity. The U.S. reported that businesses were slowing their orders of computers, aircraft, fabricated metals and other durable goods.

With the latest reports, a new worry is emerging among economists and policy makers: that economic activity is slowing in sync around the globe and not just in a few markets with their own isolated problems. Europe””struggling with the risk of a Greek pullout from the euro area and broader fiscal problems””is the epicenter of global economic concerns right now. But reports of economic trouble are turning up in India, South Africa, Brazil and elsewhere.

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Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Globalization

Euro Zone Crisis Boils as Leaders Fail to Signal New Steps

With Greece’s membership in the euro zone teetering, fears of bank insolvency rising and Europe’s leaders bickering about what to do, the euro crisis is once again intensifying and threatening to undermine fragile growth globally.

At a summit meeting in Brussels on Wednesday, regional leaders failed to signal any significant new steps to stimulate the sputtering regional economy or resolve the competing agendas of President François Hollande of France, who favors stronger action to spur growth, and his German counterpart, Chancellor Angela Merkel, who has opposed aggressive moves to ease the pressure on Europe’s weakest economies.

Yet, the urgency for a solution to the region’s debt crisis, now in its third year, may never have been greater.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, France, Germany, Globalization, Greece, Politics in General, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(AP) Eurozone warned 'severe recession' looming

The 17-country eurozone risks falling into a “severe recession,” the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe’s central bank to act quickly to keep the slowdown from dragging down the global economy.

OECD Chief Economist Pier Carlo Padoan warned the eurozone economy could contract by as much as 2% this year, a figure that the Paris-based organization had laid out as its worst-case scenario in November.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Globalization, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(SMH) Tim Colebatch–The world holds its breath as Europe struggles in the quicksand

The immediate future of the global economy, including Australia, now depends on Europe, and whether it can restore confidence to markets. If European leaders can resolve their tangle of problems, growth is ahead of us. If they can’t, all bets are off.

Pessimism comes more naturally than optimism. It is now five years since we first heard the phrase ”the sub-prime crisis”, which rang the end of a golden era of debt-financed growth. Since then, we’ve had years of recurring crises, summits and resolutions that promised to solve the problems, but haven’t.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Australia / NZ, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, France, Germany, Globalization, Greece, Stock Market, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(NY Times) Greek Crisis Poses Unwanted Choices for Western Leaders

The leaders of the Group of 8, emphasizing growth as well as fiscal discipline at their meeting on Saturday, made a strong plea for Greece to stay in the euro zone and the European Union.

And no wonder.

Despite efforts at official reassurance, no one really knows the consequences of a Greek exit from the euro zone, or how rapidly big countries like Spain and Italy, and their banks, will feel the effects….

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, Globalization, Greece, Politics in General, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(BBC) G8 Camp David summit targets 'growth and stability'

The summit of the G8 group of major world economies is under way at Camp David, near Washington, with Europe’s debt crisis expected to dominate.

US President Barack Obama said all the G8 nations were “absolutely committed” to the goals of growth, stability and fiscal consolidation.

Germany, which backs austerity, is under pressure from the US and France for stimulus measures, analysts say.

Greece’s possible exit from the eurozone is high on the agenda.

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Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Foreign Relations, Globalization, Politics in General, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(Washington Post) World on their shoulders, Greeks face epic choice

Homeward bound after the Trojan War, Odysseus of Greek myth had to pick a path through seas harboring a monster with six heads and a whirlpool that digested ships whole. Now, whether modern Greece exits the euro ”” potentially triggering global economic turmoil in the process ”” depends on the tough choices of Ivi Moreti and her 11 million countrymen.

Should the 60-year-old widow leave her nest egg of euros in a wobbly Greek bank and risk it being seized and converted into a devalued national currency? Or should she withdraw it all, joining what could become a panic forcing Greece out of the euro anyway by bringing down the financial system?

Who should she vote for June 17, when this nation mired in political chaos holds its second election in two months? A party willing to largely accept the crippling bailout conditions that have taken a bite out of her pension and run the economy into the ground? Or the rising rebels promising to buck the austerity imposed on Greece by its bigger neighbors, , a course that might cause total economic collapse?

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Economy, Euro, Europe, European Central Bank, Foreign Relations, Globalization, Greece, Politics in General, The Banking System/Sector

Data Signals Economic Trouble in China

As China’s leaders have been preoccupied with a political struggle leading up to a once-in-a-decade leadership change this autumn, there are increasing signs that the Chinese economy may be running into trouble.

China announced Thursday that growth in imports had unexpectedly come to a screeching halt in April ”” rising just 0.3 percent from the same period a year earlier, compared with expectations for an 11 percent increase. Businesses across the country appeared to lose much of their appetite for products as varied as iron ore and computer chips.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Asia, China, Consumer/consumer spending, Corporations/Corporate Life, Economy, Globalization

Human Trafficking: out of the darkness

From here:

They’re lured abroad by visions of prosperity, by hopes for a better future for their kids and families back home. Sometimes, they’re trying to escape war or conflict. They are the some 12 million people around the world today who are believed to have become slaves for those dreams of a better, safer life.
But their number could be even double that ”“ as many as 27 million men, women and children to live in a state of modern slavery. People like Tara from Ethiopia, promised a good job as a maid in the Middle East, who finds her passport confiscated, and 20 hour days of humiliation and hard work. Or Umma from Somalia who spends her last pennies for a boat ride to Italy only to find herself an unwilling victim of the sex trade. Or Noben, a fisherman from Bangladesh beaten by his boss when he fails to meet his quota of catch for the day.
Among the growing number of lay and religious organizations combating these forms of human trafficking, is the Catholic International Union of Superiors General (UISG) which in 2009 instituted the Talitha Kum network to train consecrated religious and lay in methods of prevention and to provide assistance for victims of trafficking.
Salesian Sr. Estrella Castalone of Talitha Kum says the network takes its name from a center for trafficked girls she helps run in her native Philippines.
Through their many hospitals, schools and social centers around the world, Catholic sisters can play an important role in combating and preventing trafficking of persons and offering material, spiritual and psychological help to victims. And in the some 68 countries where it’s located, Talitha Kum is training more and more religious for the job. It’s a job, Sr. Estrella says, “that puts us in touch with all forms of poverty: the material, the spiritual and the moral”¦”

Listen to Tracey McClure’s whole interview with Sr. Estrella.

Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Consumer/consumer spending, Corporations/Corporate Life, Economy, Globalization, Law & Legal Issues, Other Churches, Poverty, Roman Catholic, Sexuality, Violence, Women

Save the Children report: USA is 25th best place to be a mom

Just in time for Mother’s Day, an annual ranking of the best and worst countries in which to be a mom puts the USA in 25th place, up from 31st last year.

The 13th annual State of the World’s Mothers report by the Save the Children foundation, out today, examines the well-being of mothers and their children in 165 countries, based on a range of measures, including mothers’ education, infant mortality and breastfeeding rates.

Read it all.

Posted in * Culture-Watch, * International News & Commentary, America/U.S.A., Children, Globalization, Marriage & Family, Women

(AP) Markets could stumble after France, Greece votes

Much depends on the reaction of investors in debt issued by European nations, said Dimitri Papadimitriou, president of the Levy Economics Institute at Bard College. If they fear that the crisis response is losing momentum, they will likely demand higher interest rates ”” not just from Greece, but from other nations seen as carrying too much debt.

The result would be rising borrowing costs for Greece as well as countries that haven’t received bailouts, like Italy and Spain. Rising borrowing costs sent global stock markets diving last year. Uncertainty about the path forward in Europe may mean a return to extreme market volatility after several months of relative calm.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, France, Germany, Globalization, Greece, Politics in General, Stock Market, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(WSJ) Daniel Gross on the Shift from an Ownership to a Rentership Society

In the American mind, renting has long symbolized striving””striving, that is, well short of achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they’re OK with renting it. Homeownership is on the decline, and home rentership is on the rise. But the trend isn’t limited to the housing market. Across the board””for goods ranging from cars to books to clothes””Americans are increasingly acclimating to the idea of giving up the stability of being an owner for the flexibility of being a renter. This may sound like a decline in living standards. But the new realities of our increasingly mobile economy make it more likely that this transition from an Ownership Society to what might be called a Rentership Society, far from being a drag, will unleash a wave of economic efficiency

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --Social Networking, America/U.S.A., Blogging & the Internet, Consumer/consumer spending, Corporations/Corporate Life, Economy, Globalization, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Marriage & Family, Psychology