Category : Economy

Another Look Back–John F Kennedy's Labor Day Address in 1963

We honor too the contributions of labor to the strength and safety of our Nation. America’s capacity for leadership in the world depends on the character of our society at home; and, in a turbulent and uncertain world, our leadership would falter unless our domestic society is robust and progressive. The labor movement in the United States has made an indispensable contribution both to the vigor of our democracy and to the advancement of the ideals of freedom around the earth.

We can take satisfaction on this Labor Day in the health and energy of our national society. The events of this year have shown a quickening of democratic spirit and vitality among our people. We can take satisfaction too in the continued steady gain in living standards. The Nation’s income, output, and employment have reached new heights. More than 70 million men and women are working in our factories, on our farms, and in our shops and services. The average factory wage is at an all-time high of more than $100 a week. Prices have remained relatively stable, so the larger paycheck means a real increase in purchasing power for the average American family.

Yet our achievements, notable as they are, must not distract us from the things we have yet to achieve. If satisfaction with the status quo had been the American way, we would still be 13 small colonies straggling along the Atlantic coast. I urge all Americans, on this Labor Day, to consider what we can do as individuals and as a nation to move speedily ahead on four major fronts.

First, we must accelerate our effort against unemployment and for the expansion of jobs and opportunity.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Anthropology, Economy, History, Labor/Labor Unions/Labor Market, Office of the President, Politics in General, Theology

(RNS) Adon Taft–Labor Day and the unions’ forgotten religious roots

Union leaders have forgotten the religious roots of organized labor in this country. Terence Vincent Powderly, who led the Knights’ outreach across the nation, was a devout Catholic influenced by his Baptist lay preacher predecessor, Uriah Stephens. Powderly, a nonsmoking teetotaler, attributed the roots of the labor movement to Christianity.

Writing in 1893 on the history of the Labor Day observance ”” which had begun only the year before and wasn’t declared a national holiday until President Grover Cleveland acted in 1894 ”” Powderly recounted centuries of labor history:

“Trades-unionists, members of guilds, leagues and other organizations of workingmen embraced Christianity and proclaimed its doctrines as being especially advantageous to the welfare of the toiling poor,” he said.

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Economy, Ethics / Moral Theology, History, Labor/Labor Unions/Labor Market, Religion & Culture, Theology

A Prayer for the Unemployed (II)

Heavenly Father, we remember before you those who suffer want and anxiety from lack of work. Guide the people of this land so to use our public and private wealth that all may find suitable and fulfilling employment, and receive just payment for their labor; through Jesus Christ our Lord. Amen.

–Book of Common Prayer

Posted in * Christian Life / Church Life, * Economics, Politics, Anthropology, Economy, Labor/Labor Unions/Labor Market, Spirituality/Prayer, Theology

A Prayer for Labor Day (III)

O God, who hast taught us that none should be idle: Grant to all the people of this land both the desire and the opportunity to labour; that, working together with one heart and mind, they may set forward the welfare of mankind, and glorify thy holy name; through Jesus Christ our Lord.

Posted in * Christian Life / Church Life, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Spirituality/Prayer

(Atlantic) A 2015 Labor Day Reading List– the changing nature of work in America

But in case you’d like to ring in your Labor Day by reading up on how labor itself is changing in America, I’ve compiled a collection of recent coverage from The Atlantic that covers just that theme. One refrain in this coverage is the idea that Americans take less vacation time and work more hours than their counterparts in other rich countries. So if you are grilling today, don’t be too hard on yourself. You’ve probably earned it. Enjoy your Labor Day.

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Posted in * Economics, Politics, * International News & Commentary, America/U.S.A., Economy, Labor/Labor Unions/Labor Market

An Important Look Back–Franklin Delano Roosevelt's 1941 Labor Day Radio Address

On this day””this American holiday- we are celebrating the rights of free laboring men and women.

The preservation of these rights is vitally important now, not only to us who enjoy them””but to the whole future of Christian civilization.

American labor now bears a tremendous responsibility in the winning of this most brutal, most terrible of all wars.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Anthropology, Economy, Ethics / Moral Theology, History, Labor/Labor Unions/Labor Market, Office of the President, Politics in General, Theology

(Gallup) US Underemployment Increases to 14.5% in August

Gallup’s measure of underemployment in August is 14.5%, up 0.3 points from July. This rate is still lower than in any month other than July 2015 since Gallup began tracking it daily in 2010. Gallup’s U.S. underemployment rate combines the percentage of adults in the workforce who are unemployed (6.3%) and those who are working part time but desire full-time work (8.2%).

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Sociology, Theology

South Carolina 37th in wage growth–Most jobs tied to manufacturing, construction

As South Carolinians observe the Labor Day weekend, more are discovering it’s easier to find a job. Unemployment has dropped from a high of 11.6 percent during the depths of the Great Recession in June 2009 to 6.4 percent in July. But South Carolina workers also know wages for those jobs are growing ever so slowly.

South Carolina ranked 36th in the nation in wage growth from 2013 to 2014 ”“expanding only 2.6 percent, according to the most recent year-to-year comparisons from the U.S. Bureau of Labor Statistics.

North Dakota was first at 6.4 percent, buoyed by the rising oil shale industry. Nevada was last at 1.4 percent, with its wages tied to the service and tourism industries.

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Posted in * Economics, Politics, * South Carolina, Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Personal Finance, Politics in General, State Government, Theology

A Prayer for Labor Day (II)

On this three day weekend, when we rest from our usual labors, loving Father, we pray for all who shoulder the tasks of human labor””in the marketplace, in factories and offices, in the professions, and in family living.

We thank you, Lord, for the gift and opportunity of work; may our efforts always be pure of heart, for the good of others and the glory of your name.

We lift up to you all who long for just employment and those who work to defend the rights and needs of workers everywhere.

May those of us who are now retired always remember that we still make a valuable contribution to our Church and our world by our prayers and deeds of charity.

May our working and our resting all give praise to you until the day we share together in eternal rest with all our departed in your Kingdom as you live and reign Father, Son, and Holy Spirit, one God, forever and ever. Amen.

–The Archdiocese of Detroit

Posted in * Christian Life / Church Life, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Spirituality/Prayer

(LA Times Editorial) Labor Day 2015: Uncertain times for American workers

Unfortunately, being a worker in America today isn’t what it was a decade ago, and not all the changes can be blamed on the recession, though that certainly was economically cataclysmic for millions of people. The Bureau of Labor Statistics’ data show that the country still hasn’t recovered fully, let alone returned to the heights reached during the late 1990s’ dot-com boom. Compared with late 2006, about 1.3 million more people are unemployed today and about 1 million more have been jobless for more than six months. Almost 6.5 million Americans currently working part time want full-time jobs, which is 2 million more than a decade ago.

Relationships with employers have changed as well. More people now work as independent contractors, which means they aren’t covered by wage and overtime laws and don’t receive workers’ compensation if injured or unemployment insurance if laid off. Some workers prefer such jobs because of the flexibility it gives them, which also appeals to employers who may only need a worker for a specific task for a short time. But many companies exploit the system by misclassifying workers as independent contractors when they really are acting as employees and entitled to protections.

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Posted in * Economics, Politics, Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Theology

A Labor Day Reflection on Saint Joseph the Worker

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.

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Posted in * Economics, Politics, * Religion News & Commentary, Anthropology, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Other Churches, Roman Catholic, Theology

A Prayer for Labor Day (I)

O Lord Jesus Christ, who in thy earthly life didst share man’s toil, and thereby hallow the labour of his hands: Prosper all those who maintain the industries of this land; and give them pride in their work, a just reward for their labour, and joy both in supplying the needs of others and in serving thee their Saviour; who with the Father and the Holy Spirit livest and reignest, ever one God, world without end. Amen.

Posted in * Christian Life / Church Life, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Spirituality/Prayer

Headline Unemployment rate falls to 5.1%, but Americans are not finding pay increases

In the year that the U.S. economy was supposed to take off, an odd thing has happened: Americans are finding new jobs, but they aren’t finding employers willing to dole out meaningful pay increases.

It’s the tension at the center of an economy that is only growing more perplexing as it enters a perilous autumn.

Fresh data released Friday ”” showing unemployment at a seven-year low and a cooling pace of jobs growth ”” provided conflicting signals about the nation’s economic momentum as the Federal Reserve considers raising interest rates for the first time in nearly a decade. The U.S. added 173,000 jobs, slightly below expectations, while the unemployment rate fell to 5.1 percent. Never before has the nation’s unemployment rate plunged so low ”” a point when companies should be competing aggressively for workers ”” while wages have stayed so flat.

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Posted in * Economics, Politics, * International News & Commentary, America/U.S.A., Anthropology, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Pastoral Theology, Theology

(Globe and Mail) Harvey Schachter–Has ”˜wellness’ become a dangerous ideology?

Wellness is prized these days. We want to balance our work and life, ensuring a healthy lifestyle. We try to carve out time for exercise, avoid fatty foods, and shun smoking (and smokers). Positivity is considered a virtue.

But Stockholm Business School professor Carl Cederstrom believes we have gone overboard with our walking meetings, treadmill desks, and meditation classes. “Wellness has become an ideology,” he says in an interview ”“ a dangerous ideology because not all of us can live up to the wellness creed and there can be an intolerance towards smokers and people with weight issues, for example. But it’s also dangerous because it obscures the fact economic and social factors ”“ and political decisions ”“ can have a much greater determinant on overall health than the individual actions of the higher-income folk who have bought into what he and fellow critic André Spicer, a professor at London’s City University, call in their new book The Wellness Syndrome.

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Books, Children, Economy, Ethics / Moral Theology, Health & Medicine, Labor/Labor Unions/Labor Market, Marriage & Family, Psychology, Theology

(AI) James V. Schall–The Moral Dimension of Work

“The moral foundation of political economy,” to use Lord Acton’s phrase, rests on the connection of liberty with right, of right with duty, of duty with leisure and delight, and of all with transcendence.

Our most unsettling economic problems are actually not economic but moral””moral ones that cannot be simply passed on from generation to generation. They need to be chosen and internalized by each person in each generation at the risk of deflecting material goods from their proper purposes.

Work likewise is not exclusively for its own sake. Rather work, while being an expression of human dignity and concrete accomplishment, aims at a product, aims at the material wellbeing in which something more than work can happen. The basis of culture, as Josef Pieper wrote in a famous thesis, is not only work but also leisure that lies beyond work. We work in order to have leisure, not the other way around.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Anthropology, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Other Churches, Pastoral Theology, Religion & Culture, Roman Catholic, Theology, Theology: Salvation (Soteriology), Theology: Scripture

(WSJ) Mixed Jobs Report Sets Fed Up for Close Call on Rates

U.S. employment growth slowed in August but the jobless rate fell to the lowest level since 2008, a mixed labor-market reading that leaves the Federal Reserve with a challenging decision on whether to raise short-term rates at its September meeting.

Nonfarm payrolls rose a seasonally adjusted 173,000 in August, the Labor Department said Friday. Revisions showed employers added 44,000 new jobs in June and July than previously estimated.

However, the unemployment rate, which comes from a separate survey of U.S. households, fell to 5.1%, from 5.3% the previous month. The unemployment rate is now lower than at any point since 2008 and right in the middle of the Fed’s long-run projections.

The decline in the unemployment rate strengthens the case for an interest rate increase at the Fed’s Sept. 16-17 meeting.

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Posted in * Economics, Politics, Economy, Federal Reserve, Labor/Labor Unions/Labor Market, The U.S. Government

(Telegraph) Jeremy Warner–China has created a monster it can't control

As recent events have demonstrated, we should not. China’s stock market crash is not the work of malicious financial journalists and short-selling hedge funds, but a signal of difficult time ahead and perhaps even of an economic road-crash to come. After nearly 35 years of spectacular progress, the Chinese economy faces multiple challenges on many fronts which are not going to be solved by denying harsh realities and imprisoning journalists.

The progress of recent decades belies an industrial sector which in truth has become quite seriously uncompetitive by international standards. Many of China’s factories need completely retooling to keep up with developments in robotics and other forms of mechanisation. Yet if industry is to get less labour intensive, this only further steepens the challenge of employment creation.

It is reckoned that China needs to create some 20 million jobs a year just to keep pace with employment demand as the population shifts from land to town, eight million of them in high-end professions to cater for the country’s burgeoning output of graduates. China’s modernisation has created a monster which it is struggling to feed.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Asia, China, Economy, Foreign Relations, Globalization, History, Politics in General

(WSJ) Migrant Crisis Divides Europe

Germany and France pressed the rest of Europe to end squabbling over its exploding migration crisis that is sowing new political divisions across the Continent.

German Chancellor Angela Merkel and French President François Hollande called for a burden-sharing system to distribute across the European Union the swelling numbers of people arriving from violent regions in the Middle East, Africa and South Asia.

Their call for action came as hundreds of migrants faced off with Hungarian police and after a photograph of a Syrian boy lying dead on the beach in Turkey, drowned trying to reach a Greek island, appeared on the front pages of newspapers across Europe. The image sparked outrage at what critics say is the European Union’s timid response to the crisis.

“It’s a tragedy,” Mr. Hollande said of the boy’s death, “but it’s also an appeal to the European conscience.”

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Anthropology, Economy, Ethics / Moral Theology, Europe, Foreign Relations, History, Immigration, Law & Legal Issues, Pastoral Theology, Politics in General, Psychology, Theology

(NBC) Why This Barber Is Giving Free Haircuts to Kids Who Read to Him

[Courtney] Holmes tries to encourage the kids to do more than just read and sound out words ””he wants them to understand and learn from the books.

“Their memory is being challenged,” he said. At the end of each hair cut he asks, “What is this book about?”

“Trims 4 Tales” also sends each child home with a bag of books, encouraging them to keep reading until their next visit ”” which Holmes hopes will be very soon.

“The joy on their face ”” it makes me feel like a million bucks just to see that,” he said.

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Books, Children, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Marriage & Family, Theology

PBS' Religion and Ethics Newsweekly–Environmental Justice in Mossville

A new chemical plant is being built in the small African-American town of Mossville in southwest Louisiana, raising significant concerns about health, safety, and environmental impact. The plant’s owner has offered to pay Mossville residents to move out of their homes and sell their churches. The company says it is being generous, but some longtime residents and religious leaders feel they are being forced out. “The church is the hub of the community, as far as relationships and as far as love and caring for one another,” says LaSalle Clarence Williams Sr., chairman of the deacon board at Mount Zion Baptist Church, Mossville’s oldest house of worship.

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Posted in * Culture-Watch, * Economics, Politics, City Government, Consumer/consumer spending, Corporations/Corporate Life, Economy, Energy, Natural Resources, Ethics / Moral Theology, Law & Legal Issues, Politics in General, Religion & Culture, Theology

(Telegraph) Should humans fear the rise of the machine?

Within the space of a couple of decades, a robot may be writing this article. It will probably be delivering your post. And if it isn’t driving your car, you’ll need to get with the times.

In the last half a decade, artificial intelligence (AI) has moved from a pipedream, or the domain of science fiction, to a reality that is certain to have a profound impact on our lives.

Not only is AI certain to make millions of jobs that exist today obsolete, it will also force us to ask major questions, about privacy, laws and ethics.

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Economy, Ethics / Moral Theology, History, Labor/Labor Unions/Labor Market, Science & Technology, Theology

(FT) Martin Wolf–China risks an economic discontinuity

There are at least three reasons why China’s growth might suffer a discontinuity: the current pattern is unsustainable; the debt overhang is large; and dealing with these challenges creates the risks of a sharp collapse in demand.

The most important fact about China’s current pattern of growth is its dependence on investment as a source of supply and demand (see charts). Since 2011 additional capital has been the sole source of extra output, with the contribution of growth of “total factor productivity” (measuring the change in output per unit of inputs) near zero. Moreover, the incremental capital output ratio, a measure of the contribution of investment to growth, has soared as returns on investment have tumbled.

The International Monetary Fund argues: “Without reforms, growth would gradually fall to around 5 per cent with steeply increasing debt.” But such a path would be unsustainable, not least because debts are already at such a high level. Thus “total social financing” ”” a broad credit measure ”” jumped from 120 per cent of GDP in 2008 to 193 per cent in 2014. The government can manage this overhang. But it must not let the build-up restart. The credit-dependent part of investment has to shrink.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Asia, China, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Foreign Relations, Globalization, Politics in General, Theology

(PD) Salim Furth on "Our Kids" by Robert Putnam

As a reader, I expected that Putnam would exhort me to tutor, attend a diverse church, babysit for a single mom, move to a poorer neighborhood””to take action. After all, his fond memories of Port Clinton emphasize its warm social cohesion. Perhaps Putnam assumed the exhortation to personal action was obvious, and omitted it. If so, he missed an opportunity to turn theoretical discussions of inequality into a non-political social movement toward renewed community.

Putnam’s proposals for government transfers, better-paid teachers, and free sports teams may represent helpful stepping stones to children who are socially secure and were raised in a stable, disciplined home, as his poor classmates were. But the children of Our Kids demonstrate painfully that outside influences are too little, too late for those from broken homes.

In 1959, eight out of eight poor parents in Our Kids had been present throughout their children’s lives.* In 2015, that was true of two out of twelve. Putnam does not have a plan that will help the kids whose parents have fled.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Anthropology, Children, Economy, Education, Ethics / Moral Theology, History, Marriage & Family, Pastoral Theology, Personal Finance, Politics in General, Religion & Culture, Theology

(Church Times) ”˜Liberal elite’ accused of hypocrisy on marriage

A new report suggesting that marriage is “alive and well” among the rich, but not the poor, is evidence that the “liberal elite” are hypocrites, a researcher said this week.

“It’s very striking that the liberal elite will happily tell everyone that it does not matter if you marry or not, yet nearly 90 per cent, even today, get married if they have children,” Harry Benson, research director at the Marriage Foundation, said on Tuesday.

“They talk a good liberal story, but act in very conservative ways for themselves. . . These modern-day Pharisees tell us how to live our lives, but live their own lives in a completely different way.”

The report from the Marriage Foundation, The Marriage Gap, looks at mothers with children under the age of five. In 2012, 87 per cent of mothers with an annual household income of above £45,000 were married.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Anthropology, Economy, England / UK, Ethics / Moral Theology, History, Marriage & Family, Pastoral Theology, Personal Finance, Religion & Culture, Sociology, Theology

Midday Quiz–Guess the estimated cost for one Year of Undergraduate Fees at Vanderbilt University

No looking, networking, googling or anything else–guess first before you look.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Economy, Education, Personal Finance, Young Adults

(NBC) Heartwarming Story–Theater That Employs People With Disabilities Gets NY Yankees Visit

The matinee crowd was anything but typical, as the New York Yankees paid a visit to The Prospector Theater to recognize one theater’s incredible off-screen mission.

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, Pastoral Theology, Psychology, Sports, Teens / Youth, Theology

(G+M) Simon Hedlin on why Amnesty International made the wrong decision on sex workers

There are important reasons why it is a gigantic misstep for Amnesty to advocate for the decriminalization of sex buyers. First, the empirical evidence of potential benefits from making it permissible to purchase sex is weak while the costs may be enormous. New Zealand decriminalized prostitution in 2003 and yet the country’s Prostitution Law Review Committee found in its evaluation that a majority of prostituted persons felt that the decriminalization act “could do little about violence [in prostitution].” At the same time, several studies have found that countries where buying sex is decriminalized, sex trafficking is more prevalent.

Second, decriminalizing buying sex seems to be at odds with Amnesty’s core objectives. One of the reasons that there are so many of us who have strongly supported Amnesty for years is the organization’s steadfast commitment to the fundamental rights of individuals, whether they are refugees, prisoners of conscience, or victims of torture. But buying sex is not a human right.

Instead of adopting a harmful proposal, Amnesty should have learned from Sweden’s prostitution policies. In 1999, Sweden made it illegal to buy sexual services, but not to sell them ”“ an approach that is now often called “the Swedish model.”

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Consumer/consumer spending, Economy, Europe, Globalization, Labor/Labor Unions/Labor Market, Law & Legal Issues, Politics in General, Sexuality, Sweden

Slavic Evangelical Baptist Church Pastor Charged in Hacking Scheme Detained for N.Y. Hearing

A Pennsylvania pastor who’s the key suspect in a global insider-trading scheme must remain in custody while being sent to New York for a bail hearing.
A judge in Philadelphia, whose decision on Tuesday to free Vitaly Korchevsky on $100,000 bail was blocked by a judge in Brooklyn, ordered the pastor temporarily detained while he’s transported by U.S. Marshals to the New York borough for the hearing.
Korchevsky made no comments Friday in court in Philadelphia. He whispered to his wife and brother-in-law across the courtroom. Bob Levant, one of his attorneys, said the father of two is the “centerpiece” of a close-knit Ukrainian community in the Glen Mills area.

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Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Blogging & the Internet, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Law & Legal Issues, Media, Ministry of the Ordained, Other Churches, Parish Ministry, Science & Technology, Stock Market, Theology

Demolition Underway at Saint Martin's Anglican Church in Fort St. John, Canada

The demolition of St. Martin’s Anglican Church is now a done deal as the North Peace Savings and Credit Union moves forward with plans for of a new three story administrative centre at the location.

Negotiations for purchase of a portion of the site, adjacent to the existing credit union building on 100th Street, began back in 2013 and the demolition followed the removal of hazardous materials.

Read it all. You can read about the final worship service there and you can find the location here.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, Anglican Church of Canada, Anglican Provinces, Canada, Economy, Housing/Real Estate Market, Parish Ministry, Religion & Culture, Stewardship

(SA) American Renters paying record proportion of income on rent

According to Zillow, renters spent 30.2% of income on rent in Q2, the highest percentage since as far back as the data go (1979).

In comparison, the average between 1995 and 2000 was just over 24%.Los Angeles is tops for unaffordability at 49%, with San Francisco not far behind at 47%. In NYC, renters historically have paid about 25% of income for rent, but that has gone up to 41%. Known for being more affordable than other major cities, the luxury condo market has transformed Miami, and renters there now pay 44.5%.

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Posted in * Culture-Watch, * Economics, Politics, Children, Economy, Ethics / Moral Theology, Housing/Real Estate Market, Marriage & Family, Personal Finance, Politics in General, Theology