Category : Economy

(OC Register) Episcopal panel recommends suspension for L.A. Bishop J. Jon Bruno, return of Newport Beach church to locked-out congregants

A panel of officials from the national Episcopal Church issued its recommendation on misconduct charges against J. Jon Bruno, bishop of the Episcopal Diocese of Los Angeles, on Friday, July 21, nearly ending a two-year battle during which he tried to sell the St. James the Great church in Newport Beach and displaced its congregants.

Panel members voted 4-1 to suspend Bruno for three years, restore the congregation and halt efforts to sell the 40,000-square-foot building and surrounding property at 3209 Via Lido, which includes a rose garden where the ashes of 12 former parishioners are buried.

The decision comes after panel members presided over a three-day disciplinary hearing in March.

Read it all.

Posted in Episcopal Church (TEC), Ethics / Moral Theology, Housing/Real Estate Market, Pastoral Theology, Stewardship, TEC Bishops, TEC Conflicts: Los Angeles

(FT) Netflix looks to become world’s entertainer as it hits milestone, passing 100m subscribers

2007 was a vintage year for technology. While there has been plenty of coverage of the iPhone’s 10th anniversary, the same year also saw Netflix, best known then for renting DVDs by post, launch another novel product: online movie streaming. At the time, some Netflix investors fretted about the expected $40m cost of launching its streaming service during its first year.

A decade later, Netflix’s share price performance has far exceeded even Apple’s 700 per cent increase since 2007, with the internet TV group’s stock skyrocketing by more than 6,000 per cent in the same period. This week added another 15 per cent to those gains, after second-quarter results showed its total subscribers had reached 104m, shooting through Wall Street forecasts.

Netflix described the symbolic milestone of exceeding 100m members as “a good start”. 

“We connect people with stories,” its recently redrawn mission statement says. “Someday, we hope to entertain everyone.”

Read it all.

Posted in Corporations/Corporate Life, Entertainment, Movies & Television

Supportive Housing Coming to Former Delaware Episcopal Church in Union City

A unique adaptive reuse project is currently underway in a Hudson County community.

The St. John’s Episcopal Church was incorporated in 1846 in what is now known as Union City, and operated as a parish for 165 years, before being converted into a mission church in 2011. A few years later, during the 140th Annual Convention of the Episcopal Diocese of Newark in 2014, it was decided that St. John’s would be closed altogether, according to the Diocese. This was despite efforts by some community members to save the congregation. Now, the former church, which has stood in the same building for over a century in what was once known as West Hoboken at 1514 and 1516-1518 Palisade Avenue, at the southeast corner of 16th Street, is in the process of being converted into new use.

The Garden State Episcopal Community Development Corporation (GSECDC), of Jersey City, is rehabilitating the church, along with a neighboring vacant two-story building, “to provide supportive housing for homeless families and individuals,” according to the New Jersey Housing and Mortgage Finance Agency.

Read it all.

Posted in Episcopal Church (TEC), Housing/Real Estate Market

(FT) Investors, including the C of E, shine spotlight on coal groups over climate change risk

The world’s largest coal mining companies need to show how they will reduce their carbon emissions to meet global climate targets under the Paris accord, according to an investor-backed group led by the Church of England.

Only two of the 20 largest listed coal companies — Rio Tinto and Brazil’s Vale — have long-term targets for reducing their emissions, according to a report published on Tuesday by the Transition Pathway Initiative, a coalition of investment funds with £4tn under management.

Three coal companies, DMCI Holdings, Inner Mongolia Yitai Coal, and Shougang Fushan Resources Group, do not even acknowledge climate change, the study said. The report comes after the Paris climate change agreement to limit global warming to below 2 degrees Celsius above pre-industrial levels came into effect last November.

Read it all.

Posted in Church of England (CoE), Corporations/Corporate Life, Energy, Natural Resources, Ethics / Moral Theology

(Bloomberg) Working Past 70: Americans Can’t Seem to Retire; us seniors highest employ % in the last 55 yrs

More and more Americans are spending their golden years on the job.

Almost 19 percent of people 65 or older were working at least part-time in the second quarter of 2017, according to the U.S. jobs report released on Friday. The age group’s employment/population ratio hasn’t been higher in 55 years, before American retirees won better health care and Social Security benefits starting in the late 1960s.

And the trend looks likely to continue. Millennials, prepare yourselves. Better yet, consider this and this, so you have a choice in the matter when your time comes.

Read it all.

Posted in Aging / the Elderly, Economy, Labor/Labor Unions/Labor Market

(Pacific Standard) Why Poverty is Skyrocketing in the Suburbs

If you were to ask a group of Americans to pinpoint poverty in this country, a good many would tell you you to turn a watchful eye to the inner-city blocks. Perhaps others would suggest you look at the isolated valleys of rural Appalachian coal mining towns. But few would point you to the suburbs, our country’s neatly manicured, leafy green mazes of driveways and cul-de-sacs. That’s a shame; it’s this very misperception that makes the issue so pernicious.

In recent decades, the number of suburbanites living in poverty has increased at an alarming clip. In 1990, there were 9.5 million poor people living in America’s 100 largest cities, and 8.6 million poor people living in the suburbs of those cities. By 2014, there were 17 million poor people in the suburbs of the country’s 100 largest metro areas, and less than 13 million in the cities themselves. The average suburban poverty rate, meanwhile increased from 8.3 percent in 1990 to 12.2 percent in 2014.

Poverty, in other words, is now a suburban problem, just as much as it’s an urban or rural problem. In his new book, Places in Need: The Changing Geography of Poverty, Scott Allard, a poverty researcher and professor at the University of Washington, explores this phenomenon and its many implications. Allard spoke to Pacific Standard about what’s driving suburban poverty rates, how the mismatch between perception and reality may affect support for safety net programs, and what the changing distribution of poverty means for the social safety net.

Read it all.

Posted in * Economics, Politics, America/U.S.A., Economy, History, Personal Finance, Poverty, Uncategorized

A S Haley–TEC Bishop Jon Bruno Caught Between a Rock and a Hard Place

The litigation grew nastier, as narrated in this post. Matters even began to sour between Bishop Bruno and his own Diocese’s convention. Eventually, the original purchaser pulled out of the contract (because of the litigation, no doubt), +Bruno rejected all attempts at mediation / conciliation with the parishioners, and the Disciplinary Board’s review panel ordered the matter (over +Bruno’s hypocritical objections) to a full-blown, public hearing, which took place over three days at the end of March of this year. (You can read the day-by-day accounts of the proceedings at this site, if you choose. With my departure from ECUSA, I have pretty much stopped chronicling all the desultory conduct that goes on in the name of that body.)

In the civil courts, meanwhile, +Bruno achieved mixed results. The parishioners’ lawsuit to stop him from selling the property was dismissed, but his suit against the original donor has not fared well. On February 24, the Court of Appeal reversed a decision by the trial court which had denied the donor’s motion to strike +Bruno’s “slander of title” claim against it. The decision ordered the trial court to strike the claim from the lawsuit and award the donor its attorneys’ fees and costs incurred as a result of its filing. The fees and costs will have to be paid out of the Bishop’s own corporation sole, since it was the plaintiff against the donor. In another ruling, the trial court found the original donor had failed to record a renewal of its deed restriction as required by law to keep it enforceable. That freed +Bruno to sell the property, but by then (as we now learn — see below) the original buyer had backed out.

After the disciplinary hearing concluded on March 30, the hearing panel took the matter under submission for briefing before issuing its decision. The Bishop’s attorneys asked the panel to dismiss all charges against him, while the attorney prosecuting the charges asked the panel to find him guilty and suspend him from active ministry for up to a year while fashioning a remedy that would foster reconciliation — for which +Bruno to date has shown no interest whatsoever.

On June 14, before the panel had issued any decision, one of the complainants submitted colorable evidence that +Bruno had entered into a new contract to sell St. James while the disciplinary proceedings were going on. The panel asked +Bruno’s attorneys to disclose to it whether he was under contract with a buyer or not, and when they gave evasive replies, the panel issued a sanctions order on June 17 directing +Bruno not to sell or contract to sell the property until “further order of the Hearing Panel.”

Now comes word from Anglican news sources that on June 22, +Bruno’s attorney sent an email to the panel in which she disclosed that Bishop Bruno had signed a contract to sell the property to another developer — just three weeks after the disciplinary hearing (the purchaser signed the contract a month later).

Read it all.

Posted in Episcopal Church (TEC), Ethics / Moral Theology, Housing/Real Estate Market, Law & Legal Issues, Stewardship, TEC Bishops

(Reason) Young Men Are Playing Video Games Instead of Getting Jobs

Video games, like work, are basically a series of quests comprised of mundane and repetitive tasks: Receive an assignment, travel to a location, overcome some obstacles, perform some sort of search, pick up an item, and then deliver it in exchange for a reward—and, usually, another quest, which starts the cycle all over again. You are not playing the game so much as following its orders. The game is your boss; to succeed, you have to do what it says.

This is especially true in the genre that has come to dominate much of big-budget game development, the open-world action role-playing game, which blends the hair-trigger violence of traditional shooters with the massive explorable landscapes of games like Grand Theft Auto and the intricate craft and character leveling systems of pen-and-paper tabletop fantasy games like Dungeons & Dragons.

The games consist of a series of assignments combined with a progression of skills, awards, and accomplishments, in which you, the player, become more powerful and proficient as a result of your dedication. And dedication is what these games require. It is not uncommon for single-player games to take upward of 60 hours to complete. Online, multiplayer variants can easily chew up hundreds or even thousands of hours of time, with the most accomplished players putting in dozens of hours a week for months on end. Although these games are usually packaged in a veneer of fantasy, they work less like traditional entertainment and more like employment simulators.

So it is perhaps not surprising that for many young men, especially those with lower levels of educational attainment, video games are increasingly replacing work.

Read it all.

Posted in Anthropology, Economy, Entertainment, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Men, Young Adults

(ELJ) A Roman Catholic farmer been excluded from a Michigan market over his theology of marriage

When the East Lansing Farmers Market resumes Sunday, produce from Country Mill Farms will be missing for the first time since 2010.

Steve Tennes, owner of Country Mill Farms in Charlotte, said he’s been excluded from the 2017 season because of views he expressed on Facebook regarding marriage.

The city’s decision to exclude Tennes from the farmers market prompted Tennes and a religious freedom advocacy group, Alliance Defending Freedom, to file a federal lawsuit Wednesday.

Tennes, who sold organic apples and produce at the farmers market, said his Catholic faith has made him a target of government discrimination.

Read it all.

Posted in Economy, Ethics / Moral Theology, Law & Legal Issues, Marriage & Family, Religion & Culture

(FT) Church of England fund becomes top world performer w yoy return on assets of 17.1%

The Church of England’s £7.9bn investment fund, which has in the past struggled to reconcile questions of morality and mammon, achieved its strongest returns in more than three decades last year, lifting it into the top ranks of the world’s best-performing endowment funds.

The Church Commissioners annual report discloses total return on assets of 17.1 per cent in 2016, with strong performances from global equities, private equity and timber.

Over 10 and 20 years, the fund returned 8.3 per cent and 9.5 per cent per annum respectively, compared with its target return of 5 per cent per annum above inflation. By contrast, returns from the Yale University endowment, top of the eight-member Ivy League, rose 3.4 per cent in the year to last June, with 10 and 20-year returns at 8.1 per cent and 12.6 per cent per annum respectively.

Read it all (subscription needed).

Posted in Church of England (CoE), Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Stock Market

(Church Times) C of E urged to pull out of fossil fuels

CHRISTIAN AID has challenged the Church of England to disinvest from fossil fuels, after it emerged that the Archbishop of Canterbury was involved in persuading a major investment fund to pull its own money out fossil fuels.

BMO Global Asset Management’s range of “responsible” funds will no longer invest in any company which has reserves of fossil fuels, it an­­nounced on Monday. Archbishop Welby is the president of the firm’s ethical advisory council, and report­edly played a key part in pushing through the change in policy, which will be implemented by 2020.

Christian Aid is now ques­tioning why the Archbishop cannot play the same part closer to home and pull the C of E’s own investments out of fossil-fuel reserves.

Read it all.

Posted in Church of England (CoE), Corporations/Corporate Life, Economy, Energy, Natural Resources, Ethics / Moral Theology, Stock Market

(WSJ DS) Betting markets started pricing in a small but rising probability that Donald Trump could lose the presidency

I will take comments on this submitted by email only to KSHarmon[at]mindspring[dot]com.

Posted in * Economics, Politics, Economy, Ethics / Moral Theology, Law & Legal Issues, Politics in General, President Donald Trump, Psychology

(Wa Po) Companies need workers — but people keep getting high

Workers at McLane drive forklifts and load hefty boxes into trucks. The grocery supplier, which runs a warehouse in Colorado, needs people who will stay alert — but prospective hires keep failing drug screens.

“Some weeks this year, 90 percent of applicants would test positive for something,” ruling them out for the job, said Laura Stephens, a human resources manager for the company in Denver.

The state’s unemployment rate is already low — 3 percent, compared to 4.7 percent for the entire nation. Failed drug tests, which are rising locally and nationally, further drain the pool of eligible job candidates.

“Finding people to fill jobs,” Stephens said, “is really challenging.”

Read it all.

Posted in Drugs/Drug Addiction, Health & Medicine, Labor/Labor Unions/Labor Market

(Economist 1843) The Law of Unintended consequences Dept–Social media is enabling a golden age of scamming

On the face of it these seem like tough times for financial scammers. The crash of 2008 burned investors, exposed fraudsters and has forced regulators to toughen up. Yet dodgy “pyramid” investment schemes that promise huge returns before inevitably collapsing are going strong, especially those targeting women. In late 2015 British regulators jailed the leaders of a plot that had duped over 10,000 women. In June 2016 authorities in Belize warned of a scam sweeping the country. America, India, Mexico and Indonesia have seen similar stories.

Read it all.

Posted in Consumer/consumer spending, Corporations/Corporate Life, Ethics / Moral Theology, Globalization, Law & Legal Issues, Science & Technology

(NPR) Can’t Pay Your Student Loans? The Government May Come After Your House

On Adriene McNally’s 49th birthday in January, she heard a knock on the door of her modest row-home in Northeast Philadelphia.

She was being served.

“They actually paid someone to come out and serve me papers on a Saturday afternoon,” she says.

The papers were from a government lawsuit that represents something more than just an unwelcome birthday gift — it’s an example of a program the federal government has brought to 19 cities around the country including Brooklyn, Detroit, Miami and Philadelphia: suing to recover unpaid student loans, like the ones McNally owes.

Read it all.

Posted in Economy, Education, Personal Finance, The U.S. Government, Young Adults

(FT) Hackers prime second classified US cyber weapon

Criminal hacking groups have repurposed a second classified cyber weapon stolen from US spies and have made it available on the so-called dark web after the success of the WannaCry attack that swept across the globe on Friday.

The hacking tool, developed by the US National Security Agency and codenamed EsteemAudit, has been adapted and is now available for criminal use, according to security analysts.

As with the NSA’s EternalBlue, the tool on which WannaCry was based, EsteemAudit exploits a vulnerability in older versions of Microsoft’s Windows software in the way in which networked machines communicate with each other.

Microsoft issued patches for vulnerable versions of its Windows software over the weekend — though experts warn many organisations have yet to apply them.

Read it all.

Posted in Blogging & the Internet, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Globalization, Law & Legal Issues, Science & Technology

(NYT) How Google Took Over the Classroom: Are Schools giving the company more than they are getting?

Schools may be giving Google more than they are getting: generations of future customers.

Google makes $30 per device by selling management services for the millions of Chromebooks that ship to schools. But by habituating students to its offerings at a young age, Google obtains something much more valuable.

Every year, several million American students graduate from high school. And not only does Google make it easy for those who have school Google accounts to upload their trove of school Gmail, Docs and other files to regular Google consumer accounts — but schools encourage them to do so. This month, for instance, Chatfield Senior High School in Littleton, Colo., sent out a notice urging seniors to “make sure” they convert their school account “to a personal Gmail account.”

That doesn’t sit well with some parents. They warn that Google could profit by using personal details from their children’s school email to build more powerful marketing profiles of them as young adults.

Read it all.

Posted in Children, Corporations/Corporate Life, Education, Science & Technology

(AP) South Carolina Gas Tax Increase Becomes Law After Senate Overrides Vet

The South Carolina Senate has voted to override Gov. Henry McMaster’s veto of the gas tax that raises money to fix roads, meaning the measure will now become law.

The final vote was 32-12. It came nearly two hours after the House also overrode the veto by 95-18 vote.

The move means the measure is now finally approved, and will officially become law on July 1

Read it all.

Posted in * South Carolina, Economy, Energy, Natural Resources, State Government, Taxes

([London] Times) RIP affordable funerals as costs rise by almost 50% in some places

Death is becoming increasingly expensive as councils capitalise on the two certainties in life — the other being taxes — to plug gaps in their funding.

Local authorities have increased cremation and burial fees by up to 49 per cent over the past year, research suggests, prompting claims that they are using stealth taxes on grieving families to make up for government cuts.

Fees have risen by more than inflation in eight out of ten council areas, the study by a price comparison website found. Watford council imposed the single biggest increase, raising burial fees by 49.1 per cent. It was followed by Newry, Mourne and Down district council at 41.1 per cent. Cheltenham borough council increased cremation fees by almost a third.

On average, burial fees rose by 5 per cent — more than double the rate of inflation — from £1,571 to £1,755. Cremation fees rose by an average of 4.6 per cent, from £683 to £714.

Read it all (requires subscription).

Posted in Consumer/consumer spending, Death / Burial / Funerals, England / UK, Religion & Culture

Irwin Stelzer-Important Ways the Economy is Changing

Perhaps the most consequential change has occurred in the labor market. For many years policymakers and employers have been operating with a substantial reserve army of the unemployed, or partially employed. Which allowed for stimulative policies designed to provide jobs for those actively seeking them, and as an incentive for others to come off the couch and resume the search in the hope that the skills they once possessed have not atrophied or become irrelevant. With the unemployment rate reported yesterday to be at its lowest level in a decade, the baby-boom generation retiring in large numbers, many the victims of opioid or heroin addictions, all the talk among businessmen I meet is of shortages of skilled labor. Auto dealers can’t find enough auto mechanics capable of handling complicated diagnostic equipment; builders tell me that a shortage of skilled workmen is constraining the number of homes being built; hospitals complain of a severe shortage of nurses and the teachers to train them. This means that an infrastructure program cannot increase the number of jobs, or the economic growth rate. Unless the output of the existing workforce increases — productivity rises, in the jargon of my trade. Which it isn’t, for reasons most analysts cannot explain.

Read it all.

Posted in Economy

(FT) One suitcase, two lives: the rise of the weekly commuter

In his 1980 book The Third Wave, the futurist Alvin Toffler predicted the rise of the “electronic cottage”. The idea was that technology would become so ubiquitous that working from home would replace the 9-5 slog in a cubicle, in the process helping to “glue the family together again”. As Iain Gately, the author of Rush Hour: How 500 Million Commuters Survive the Daily Journey to Work, put it: “The power to work anywhere and everywhere — have laptop, will travel — or stay at home according to one’s mood, seized the imaginations of Generation X: every day could be a No Pants Day.”

Yet that future has not arrived. Smartphones and laptops may be everywhere, but they have not given many white-collar employees the opportunity to work full-time in pyjamas from log cabins.

Read it all (may require subscription).

Posted in Children, England / UK, Labor/Labor Unions/Labor Market, Marriage & Family, Travel, Urban/City Life and Issues

(LA Times)-Cheryl Allen has a different narrative about-Living ‘The Handmaid’s Tale’-+it raises uncomfortable questions about the secular liberal elites

Take those elite-class Wives. Liberals typically assume the 1% consists of striped-pants tycoons off the Monopoly board who reliably vote Republican and want to cram retrograde religious ideas down people’s throats. In fact, as social scientists (Charles Murray in “Coming Apart”) and political analysts (Michael Barone, writing recently for the Capital Research Center) have observed, it’s the Democratic Party that’s the party of the 1%: the tech and finance billionaires, the media and entertainment moguls who cluster in expensive ZIP Codes around metropolitan Los Angeles, San Francisco, New York and Washington.

Those folks aren’t known for their church-going, and they vote in favor of liberal social and economic causes from abortion and immigration rights to sustainable energy to higher taxes. They contribute heavily to political campaign, and with their upper-middle-class epigones they run the culture, deciding who gets banned on Twitter, which kinds of “diversity” are allowed on campuses, and what television programs we’ll be allowed to see. Today’s overclass Wives typically hold Ivy League degrees, “lean in” to high-status careers, and stand with Planned Parenthood.

Read it all.

Posted in * Economics, Politics, America/U.S.A., Anthropology, Economy, Ethics / Moral Theology, Movies & Television, Politics in General

(New Statesman) Rowan Williams on Stefan Collini: against the market in universities

Higher education has now joined the ­growing list of subjects (immigration, multiculturalism, nuclear armaments, freedom of speech) about which it is increasingly difficult, it seems, to have an informed public argument. A hugely ambitious and successful programme of government-sponsored “reform” has enshrined various assumptions in the debate: that HE is primarily an exercise in promoting national economic prosperity; that there are quantifiable criteria for judging the quality of research; that the academic profession is in constant need of guidance from outside in order to save it from self-indulgent, inefficient and irrelevant activities; and that the basic model of education in general and universities in particular is that of a product which has to be marketed to individual consumers (students) and is naturally to be assessed in terms of consumer satisfaction.

As any academic who has not spent the past decade on Mars will know, Stefan Collini has emerged as the most eloquent, ­witty and persistent critic of this deadly mythology. But this new collection of writings makes plain that he is not defending a lost, intellectually pure golden age of academic independence, still less a socially selective ideal or an abandonment of accountability. Even more than in his earlier works, these essays, especially the substantial historical survey of HE ideals (“From Robbins to McKinsey”) and the critique of the notion of the student as consumer (“Higher Purchase”), concentrate on showing the sheer incoherence of public policy documents, with their liberal use of what he nicely calls “the Mission Statement Present” and “the Dogmatic Future” as grammatical devices, “to disguise implausible non sequiturs as universally acknowledged general truths”.

Flannel about empowerment and the increase of purchasing liberty conceals a barbarous indifference to the notion that learning changes you, that this takes time, and that the point of the intellectual life is not productivity but comprehension, and the liberty to ask awkward questions. The proposal that the quality of teaching should be measured by levels of graduate salary is simply one of the more egregious versions of this indifference – as if the graduate who becomes a primary school teacher, a junior doctor, a development worker or, for that matter, a post-doctoral researcher in biomathematics has been taught less well than one who heads for a City law firm.

Read it all (emphasis mine).

Posted in * Economics, Politics, Consumer/consumer spending, Economy, Education, Ethics / Moral Theology, Religion & Culture

A Reflection on Saint Joseph the Worker for his Feast Day

ZENIT spoke with Father Tarcisio Giuseppe Stramare of the Congregation of Oblates of Saint Joseph, director of the Josephite Movement, about Tuesday’s feast of St. Joseph the Worker….

ZENIT: What does “Gospel of work” mean?

Father Stramare: “Gospel” is the Good News that refers to Jesus, the Savior of humanity. Well, despite the fact that in general we see Jesus as someone who teaches and does miracles, he was so identified with work that in his time he was regarded as “the son of the carpenter,” namely, an artisan himself. Among many possible activities, the Wisdom of God chose for Jesus manual work, entrusted the education of his Son not to the school of the learned but to a humble artisan, namely, St. Joseph.

Read it all.

Posted in Anthropology, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Theology, Theology: Scripture

(60 Minutes) A profile of Chobani Yogurt Founder Hamdi Ulukaya–Creating Jobs in America

Sensing an opportunity Hamdi set off to the small village of New Berlin, New York, to have a look. There he found the last employees of the last plant in the area closing it down.

Hamdi Ulukaya: I remember like yesterday. It’s like this sadness in this whole place. Like as if somebody died, like, somebody important died.

Steve Kroft: Two hundred jobs?

Hamdi Ulukaya: Two hundred jobs was gone.

Former employees Frank Price, Maria Wilcox and Rich Lake were among the mourners that day.

Rich Lake: Your whole livelihood’s gone. You don’t really know what you’re gonna do or where you’re gonna go….

Read or watch it all.

Posted in * Economics, Politics, America/U.S.A., Corporations/Corporate Life, Dieting/Food/Nutrition, Economy, Immigration, Labor/Labor Unions/Labor Market, Turkey

(JSTOR Daily) Peter Feuerherd–How Religious Literacy Might Have Changed Waco

The siege had begun on February 28th of that year when, tipped off to an upcoming raid by the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), Koresh and his followers killed four government agents who came to investigate alleged firearms violations at their compound. Six Branch Davidians were also killed in that initial gun battle.

While government officials saw the tragedy as inevitable given Koresh’s obstinancy and violent tendencies, a cascade of religious scholars argued that the Waco raid was not completely justified and that, with a little more patience and understanding of biblical theology, the massive loss of life could have been avoided. They note that Koresh had been in touch with two scholars who challenged his teachings. When the final raid took place, Koresh was writing an interpretation of the Book of Revelation in response to that critique. A little more time, religion scholars argued, and Koresh and his followers might have left the compound peaceably. They say he needed time to finish his manifesto.

Read it all.

Posted in America/U.S.A., Eschatology, Religion & Culture, The U.S. Government, Violence

(Bloomberg) Boko Haram Conflict Cuts Nigeria Wheat Crop as Farmers Flee

Wheat growers in Nigeria’s northeast have abandoned their farms under the onslaught of the Boko Haram Islamist insurgency, a setback for the country’s efforts to cut imports by boosting local production, a research agency said.

“Wheat production in the zone has declined to just 20 percent of what it used to be due to insurgency,” Oluwashina Olabanji, executive director of the Lake Chad Research Institute, said in an interview in the northeastern city of Maiduguri, the Borno state capital. Borno, which used to account for about a quarter of Nigeria’s production, currently grows no wheat, he said.

Nigeria produced an average of 80,000 metric tons of wheat a year for decades until the introduction of a new variety in the 2012-13 season that tripled the average yield to as much as 6 tons per hectare (2.47 acres), increasing output to 400,000 tons in 2015-16 as more areas were cultivated, according to the institute. This compares with the output of 3.3 million tons during the same period by Ethiopia, sub-Saharan Africa’s biggest producer.

Read it all.

Posted in * Economics, Politics, Dieting/Food/Nutrition, Economy, Nigeria, Terrorism

Jerri Savuto–Easter Memories: Escaping the Commercial Trap

As I am in the US for the first time in many years, I find myself longing for the simplicity of Maua, Kenya, during Easter time. There Easter has none of the commercial trappings we find here. As I enter grocery stores, discount stores, and department stores I am shocked at the amount of space taken by the Easter candy, bunnies and stuffed animals, baskets, decorations, and new spring clothing. These items take more space than any grocery store has for all their goods in Maua.

I recently read that an estimated $2 billion will be spent on Easter candy this year in the US. Two billion dollars to celebrate the death and resurrection of Jesus Christ, who asked us to feed the hungry, clothe the naked, give water to the thirsty, house the homeless, care for the sick and imprisoned, and welcome the stranger.

Read it all.

Posted in Consumer/consumer spending, Easter, Theology

(Economist) America has a retirement problem, not a saving problem: Policymakers need to learn the difference

[Political leaders]…continue to ignore the savings crisis that should worry them: Many Americans do not have enough savings ever to be able to retire. Traditional macroeconomics cares only about aggregate levels of capital stock. There is plenty of that. But it is shared among too few people. The median family of retirement age has $12,000 in savings. That is a terrifying figure for a country where Social Security, the state pension, pays out a maximum of roughly $2,500 a month, and pensions for both public and private employees are underfunded.

For the median, wage-earning family, the best way to encourage saving is not to lower capital gains taxes or estate taxes, but to give the family access to a retirement plan that delays taxation until retirement. (In his textbook, Mr Mankiw encourages these plans, but only as another way to increase capital investment.) For those who put money into one, median accounts at retirement age rise to about $100,000—still inadequate for a lengthy retirement, but a significant improvement. About 70 percent of Americans have access to these plans through their employers. But just over half use one.

Read it all.

Posted in * Economics, Politics, Aging / the Elderly, America/U.S.A., Economy

(Local Paper Front Page) Some bet on casinos to fix South Carolina’s crumbling infrastructure

With the chances of a gas-tax increase to pay for road repairs dwindling, advocates of bringing casinos to South Carolina think they have found a winning hand.

Republican Gov. Henry McMaster declared last week that he would veto raising the state fuel tax for the first time in 30 years to fix crumbling roads and bridges. He favors a plan to borrow $1 billion, which would cover a small portion of the state’s repair tab and comes a year after lawmakers already agreed to borrow $2 billion for roads.

But there’s another roads-funding plan, one favored by a majority of South Carolinians, that’s on the table.

Casinos in the Myrtle Beach area and along the borders of North Carolina and Georgia could have South Carolina cashing in a potential $500 million a year while not raising gas pump prices or adding to the state debt load, legalized gambling backers say.

Read it all.

Posted in * South Carolina, Gambling, State Government, Taxes, Travel