Category : Economy

(ACNS) Anglican Environmental Network Chair Welcomes Papal Climate Encyclical

People of faith need to focus on the moral and spiritual elements of the crisis brought about by rapid climate change, Archbishop of Cape Town Thabo Makgoba, chair of the Anglican Communion Environmental Network, said today in response to Pope Francis’s encyclical on the issue.

In a statement issued from Cape Town, the Archbishop said:

“I would like to thank Pope Francis for this historic, ground-breaking letter. I look forward to studying it in more detail.

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Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Anthropology, Consumer/consumer spending, Corporations/Corporate Life, Economy, Energy, Natural Resources, Ethics / Moral Theology, Globalization, Other Churches, Pope Francis, Roman Catholic, Science & Technology, Theology

(First Things) Josiah Neeley–Let’s Listen to the Pope on Climate

Opposition to the encyclical has been building for months. The Heartland Institute launched a campaign to “Tell Pope Francis: Global Warming is not a Crisis,” asking readers to “Talk to your minister, priest, or spiritual leader. Tell him or her you’ve studied the global warming issue and believe Pope Francis is being misled about the science and economics of the issue. Refer him or her to this website.” Others have suggested that Francis is advocating Latin American style socialism.

Hyperbole is part of politics. But there seems to be a fairly large disconnect between the criticism of Laudato Si (much of it made prior to the release of the actual text) and the encyclical itself. The actual document is a more measured affair. For one thing, it’s not even really accurate to call it a “climate encyclical.” Most of the document is devoted to other environmental issues (ranging from clean drinking water to biodiversity) or to the proper Christian perspective on the environment generally. Only a small portion of the lengthy encyclical is devoted to climate change per se, and much of what the encyclical does say about climate change is in keeping with the prior statements of John Paul II and Benedict XVI on the issue. The encyclical says that:

A very solid scientific consensus indicates that we are presently witnessing a disturbing warming of the climatic system. . . . It is true that there are other factors (such as volcanic activity, variations in the earth’s orbit and axis, the solar cycle), yet a number of scientific studies indicate that most global warming in recent decades is due to the great concentration of greenhouse gases (carbon dioxide, methane, nitrogen oxides and others) released mainly as a result of human activity. Concentrated in the atmosphere, these gases do not allow the warmth of the sun’s rays reflected by the earth to be dispersed in space.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Corporations/Corporate Life, Economy, Energy, Natural Resources, Ethics / Moral Theology, Globalization, Other Churches, Pope Francis, Roman Catholic, Science & Technology, Theology

The New Full Papal Encyclical in English

“Laudato si’, mi’ Signore” ”“ “Praise be to you, my Lord”. In the words of this beautiful canticle, Saint Francis of Assisi reminds us that our common home is like a sister with whom we share our life and a beautiful mother who opens her arms to embrace us. “Praise be to you, my Lord, through our Sister, Mother Earth, who sustains and governs us, and who produces various fruit with coloured flowers and herbs”.

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Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Corporations/Corporate Life, Economy, Energy, Natural Resources, Ethics / Moral Theology, Globalization, History, Other Churches, Pope Francis, Roman Catholic, Science & Technology, Theology

(Upshot NYT) Neil Irwin–Does It Really Matter Exactly When the Federal Reserve Raises Rates?

What is in Fed officials’ control is what they do today and tomorrow and in their policy meeting Sept. 16 and 17. So by deciding to raise rates then (or deciding not to), they are sending a more powerful signal than any speech or written statement that they believe it is time to start winding down the era of easy money.

The thing is, Ms. Yellen and her colleagues know this, and that comments like those she made Wednesday won’t do much to change it. The best they can do is try to manage expectations so that people don’t assume that a quarter-percentage point rise in the Fed’s interest rate target in September automatically translates to much higher rates in a year or two.

In other words, Ms. Yellen may be an economist, but she is well aware that her tools for managing the economy work via financial markets. So how bond traders interpret the Fed’s words and actions matter a great deal.

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Posted in * Culture-Watch, * Economics, Politics, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Federal Reserve, Psychology, The U.S. Government, Theology

(Archbp John Sentamu) Businesses Should Put Human Wellbeing First

[Joseph] Stiglitz is also particularly critical of the banking system: “If they (the banks) are too big to fail and they know it, excessive risk-taking is a one-sided bet: if they win they keep the profits, if they lose, taxpayers pick up the tab.” He summarises this as socialising losses while privatising gains.

Furthermore, there is a growing chorus of opposition to lax executive pay habits. Fidelity Worldwide Investment has urged companies make their long-term incentive plans less short term in nature, or face votes against remuneration at annual meetings. Last year the Church Commissioners opposed executive pay deals in two-thirds of the companies where they have a holding.

Adam Smith, said to be the father of modern economics, wrote: “Servants, labourers and workmen of different kinds, make up the far greater part of every great political society. But what improves the circumstances of the greater part can never be regarded as an inconvenience to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe, and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed and lodged.”(2)

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Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, * International News & Commentary, Anglican Provinces, Anthropology, Archbishop of York John Sentamu, Church of England (CoE), Corporations/Corporate Life, Economy, England / UK, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Religion & Culture, Theology, Theology: Scripture

(NY Mag) Millennials’ Parents Can’t Stop Meddling. How Big a Problem Is That?

Here, roughly, is what we know so far about today’s middle-class children: They seldom walk or bike to school, as generations did before them; they rarely work steady after-school jobs (their new work is strictly of the academic and extracurricular variety, one that doesn’t involve a wage); their time is rigidly structured (play dates, cello lessons, summer internships); their mothers spend more time with them than mothers did with their children in the 1960s, even though most women in the 1960s didn’t work.

When confronted with these facts, it is therefore reasonable to ask: What effect does all this involvement and insulation and scrupulous (some might call it psychoneurotic) programming have on our kids? Is it compromising their resilience in some way, or the firmness of their convictions, or their self-efficacy? Are the very things we view as horizon-stretching in fact resulting in a more circumscribed life?

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Children, Economy, Ethics / Moral Theology, Health & Medicine, History, Labor/Labor Unions/Labor Market, Marriage & Family, Pastoral Theology, Psychology, Science & Technology, Theology, Young Adults

Archbishop Justin Welby joins faith leaders calling for action on climate Change

The Archbishop of Canterbury has joined faith leaders in Britain pledging to fast and pray for the success of key international negotiations over climate change, in a new declaration warning of the “huge challenge” facing the world over global warming.

Representatives of the major faiths, including Archbishop Justin Welby, said climate change has already hit the poorest of the world hardest and urgent action is needed now to protect future generations.

In the Lambeth Declaration, which will be launched tomorrow, signatories call on faith communities to recognise the pressing need to make the transition to a low carbon economy.

The call comes ahead of the international climate change talks in Paris this December where negotiators from more than 190 nations will gather to discuss a new global agreement on climate change, aimed at limiting greenhouse gas emissions from 2020 when current commitments run out.

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Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, --Justin Welby, Anthropology, Archbishop of Canterbury, Consumer/consumer spending, Corporations/Corporate Life, Economy, Energy, Natural Resources, Ethics / Moral Theology, Globalization, Religion & Culture, Science & Technology, Theology

(NC Register) 3 Ways America’s Work Ethic is Destroying Families

“All work and no play makes Jack a dull boy.”

This proverb does not have much resonance with Americans. In an age of numerous technological advances meant to save us time and energy, we find ourselves working more than ever. Instead of working fewer hours and taking more vacation, we have freely chosen to do the opposite.

We live by the “American Dream” where anyone can achieve anything if we simply “work hard enough.” Often it means “pulling yourself up by your bootstraps” in order to realize your dreams.

While these maxims are not inherently bad, we have taken them to a new level and are working more and playing less. Unfortunately the family has been caught in the crossfire. As we continue to put emphasis on work and “getting ahead,” our families are quickly eroding and falling apart.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Anthropology, Children, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Marriage & Family, Theology

Historic sandstone Episcopal Church in Clydebank, Scotland, falling into ruin

Congregations vacated St Columba’s Episcopal Church on Glasgow Road in 1996 ”” and since, it has been slowly crumbling away.

But after a photo of the church was posted on social media there have been calls for action to be taken to stop the rot at the town church.

Clydebank photographer Owen McGuigan, who ignited a debate about the church after uploading the snap to Facebook, said: “I just don’t like seeing old buildings, especially churches, which, back in the day were substantially built to last a long time, being left to fall down with neglect.

“In the last 40 years in Clydebank we have lost several churches, all knocked down before their time, some to make way for the Clyde Shopping Centre.”

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

(Economist) Only a matter of time before the next recession strikes+the rich world is not ready

Inevitably fragilities remain. Europe is deep in debt and dependent on exports. Japan cannot get inflation to take hold. Wage growth could quickly dent corporate earnings and valuations in America. Emerging economies, which accounted for the bulk of growth in the post-crisis years, have seen better days. The economies of both Brazil and Russia are expected to shrink this year. Poor trade data suggest that Chinese growth may be slowing faster than the government wishes.

If any of these worries causes a downturn the world will be in a rotten position to do much about it. Rarely have so many large economies been so ill-equipped to manage a recession, whatever its provenance, as our “wriggle-room” ranking makes clear…. Rich countries’ average debt-to-GDP ratio has risen by about 50% since 2007. In Britain and Spain debt has more than doubled. Nobody knows where the ceiling is, but governments that want to splurge will have to win over jumpy electorates as well as nervous creditors. Countries with only tenuous access to bond markets, as in the euro zone’s periphery, may be unable to launch a big fiscal stimulus.

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Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, European Central Bank, Federal Reserve, Foreign Relations, G20, Globalization, History, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Personal Finance, Politics in General, The Banking System/Sector, The U.S. Government, Theology

PBS' Religion and Ethics Newsweekly–Rancher Nuns

LUCKY SEVERSON, correspondent: Near the Colorado-Wyoming border, beneath the snow covered Mummy Mountains, amongst the grassy meadows, the soothing sounds of psalms being sung by Benedictine nuns, praying for themselves and for the world. Altogether they pray over three-and-a-half hours a day.

And then in between prayers, rushing out to the corral to rein in the cattle, and the cattle don’t always cooperate. This is the Abbey of St. Walburga. It’s a working ranch, and the nuns are the ranch hands when they’re not praying. And they pray together seven times a day, always in their habits.

(speaking to Abbess): You change your clothes a lot, don’t you?

MOTHER MARIA MICHAEL: We do.

SEVERSON: Seven times a day?

MOTHER MARIA MICHAEL: Seven time a day, uh huh.

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Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * General Interest, * International News & Commentary, America/U.S.A., Animals, Economy, Religion & Culture, Spirituality/Prayer, Theology, Violence

(First Things) Patrick Deneen-America’s Power Elite+their imposed Age of Libertarian Indifference

The decision by Apple, Walmart, Eli Lilly, Angie’s List, and so on was a business decision””even more, a marketing decision. Coming out in opposition to the Indiana RFRA law was one of the shrewdest marketing coups since E.T. followed a trail of Reese’s Pieces. The decision to #BoycottIndiana was not made because it was the politically courageous thing to do; it was made because it was the profitable thing to do. The establishment could express support for a fashionable social norm while exerting very little effort, incurring no actual cost, and making no sacrifice to secure the goal. It had the further advantage of distracting most people from the fact that corporations like Apple have no compunction doing business in places with outright oppression of gays, women, and Christians. Those real forms of repression and discrimination didn’t matter; Indiana’s purported oppression of gays did.

The public statements, often hyperbolic propaganda about the dire consequences of the Indiana law, were cost-free because gay rights activists have successfully argued that opposition to gay marriage is tantamount to racism. Through a powerful and concerted effort, gay activists have succeeded in convincing the establishment that gays are the equivalent of blacks in Selma, and that their opponents””particularly their Christian opponents””are Bull Connors. There can simply be no brooking bigotry! Democrats like Barack Obama and Hillary Clinton conveniently forget their previous support for conjugal marriage, and none of their supporters seek to hold them to account. All that matters is that one now deny that there can be reasonable opposition to gay marriage, and affirm that those who maintain that view are rank bigots. Companies like Apple and Walmart eagerly joined the bandwagon once it was clear that the tactic had worked.

There is a deeper reason for corporate support, however. ­Today’s corporate ideology has a strong affinity with the lifestyles of those who are defined by mobility, ethical flexibility, liberalism (whether economic or social), a consumerist mentality in which choice is paramount, and a “progressive” outlook in which rapid change and “creative destruction” are the only certainties. The response to Indiana’s RFRA law shows very clearly that corporations have joined forces with Republicans on economic matters and Democrats on social ones. Corporate America is aligned with the ascendant ­libertarian portion of each party, ensuring a win for the political, economic, and ­social preferences of libertarianism. In effect, there is only one functional party in America today, seemingly parceled between the two notional parties but in reality unifying them in its backing by financial and cultural elites.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --Civil Unions & Partnerships, America/U.S.A., Anthropology, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, History, Marriage & Family, Media, Politics in General, Psychology, Religion & Culture, Sexuality, State Government, Theology

(BBC) US hacking: Military and intelligence data 'accessed'

Hackers with suspected links to China appear to have accessed sensitive data on US intelligence and military personnel, American officials say.

Details of a major hack emerged last week, but officials have now given details of a potential second breach.

It is feared that the attack could leave US security personnel or their families open to blackmail.

The agency involved, the Office of Personnel Management (OPM), is yet to comment on the reports.

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Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Defense, National Security, Military, Economy, Ethics / Moral Theology, Globalization, Labor/Labor Unions/Labor Market, Military / Armed Forces, Science & Technology, The U.S. Government, Theology

(World Magazine) Church, Inc: Mainline denominations with empty buildings enter the real estate Bus

The Church of the Intercession is a beautiful stone building constructed in 1915, with vaulted ceilings, large stained glass windows, and a nave that could seat several hundred. It now needs $1 million in repairs, and its members face difficult choices.

Outside this Episcopal church in Harlem is its sweeping cemetery that includes the grave of naturalist John Audubon. Inside on a Sunday only 42 worshippers, including the choir, were present. Almost everyone was elderly. There were three canes, one walker, and one child.

Those 42 seemed a megachurch in comparison with the congregation across the street in North Presbyterian Church (PCUSA). In its historic stone building Pastor Carmen Mason-Browne preached to an audience of six women in a room with space for several hundred. The women weren’t even sitting together, but spaced like strangers on an empty train.

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Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, America/U.S.A., Economy, Episcopal Church (TEC), Ethics / Moral Theology, Lutheran, Methodist, Other Churches, Parish Ministry, Presbyterian, Religion & Culture, Stewardship, Theology, United Church of Christ

(Time) Twitter’s Strategy Remains Unclear Even After CEO Resigns

So what’s going on?

Twitter is at a crossroads when it comes to its evolution. While it aspires to be as big as Facebook, connecting fans to celebrities, sports fanatics to game information, and the media to, well, the media via short 140-character bursts can only grow this social media company so large.

With 300 million users, Twitter is still more than a billion shy of Facebook. And with ad revenue growth now slowing, investors want to know if there’s an actual plan in place or if all of this Facebook talk is just wishful thinking.

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Posted in * Culture-Watch, * Economics, Politics, --Social Networking, Blogging & the Internet, Consumer/consumer spending, Corporations/Corporate Life, Economy

Newest Boeing Dreamliner ahead of schedule, production in S. Carolina could start early

Engineering and design work on Boeing’s 787-10 ”” the longest member of the Dreamliner fleet ”” is months ahead of schedule, and the company’s North Charleston campus could start work on that line’s first jet as early as next year.

The accelerated schedule is due to the high percentage of common parts that will be shared by the 787-10 and its predecessor, the 787-9, said Beverly Wyse, vice president and general manager of Boeing South Carolina.

he North Charleston site will be the sole production facility for the 787-10.

“As a straightforward stretch of the 787-9, which entered service in 2014, we are leveraging the advanced design and disciplined development system of the 787-9 to create the 787-10 with high commonality and unprecedented efficiency,” Wyse told The Post and Courier on Tuesday.

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Posted in * Culture-Watch, * Economics, Politics, * South Carolina, Corporations/Corporate Life, Economy, Science & Technology

Stronger economy, population growth brings new service to Port of Charleston SC

Foreign container shipping firms are taking advantage of the strong dollar ”” and its resulting boost in European exports to the U.S. ”” as well as population and manufacturing gains in the Southeast by adding new routes that will call at Charleston and other East Coast ports.

Dubai-based United Arab Shipping Co. recently launched its NEU-1 service that will have weekly sailings between five ports in Northern Europe and four U.S. ports: New York; Norfolk, Va.; Charleston; and Savannah. The largest container shipping company in the Middle East, United Arab also has ordered an additional 3,500 refrigerated units for the new service and recently expanded routes in a partnership with the France-based CMA CGM shipping line.

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Posted in * Culture-Watch, * Economics, Politics, * South Carolina, Corporations/Corporate Life, Economy, Globalization, Urban/City Life and Issues

(Orange County Register) Saddleback Church raising $71 million for its largest expansion yet

Saddleback Church has launched what leaders are calling its largest and most ambitious plan ever to expand the mega-church’s ministry.

Pastor Rick Warren describes The Daring Faith Campaign as the church’s most faith-stretching, world-impacting and God-honoring plan in 35 years.

“I’m going to stretch your faith, I’m going to challenge it,” Warren told his flock at the campaign’s launch 10 weeks ago. “We don’t grow in comfort. Growth is often uncomfortable. The result is blessing, maturity and answered prayers.”

A week ago, Warren’s congregation responded during his Victory Sermon at the church’s main campus in Lake Forest, pledging to raise $71 million over the next three years to take Saddleback’s reach beyond its already global impact. About $7 million has already come in as cash donations. The Children’s ministry ”“ students from Kindergarten to 6th grade ”“ raised $20,156 by donating more than 600,000 coins. The campaign is Saddleback’s eighth and largest.

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Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, Christology, Economy, Eschatology, Evangelism and Church Growth, Housing/Real Estate Market, Parish Ministry, Religion & Culture, Soteriology, Stewardship, Theology

(FT) Health tech start-ups target internet talent

A new wave of data-intensive “health tech” companies is drawing talent from the internet world as cloud computing, artificial intelligence and intensive data analysis are brought to bear on health.

Former Facebook chief financial officer David Ebersman last week launched a start-up to crunch data and use analytics to improve the identification and treatment of behavioural health issues such as depression and anxiety.

Data gathered from the sensors in smartphones, as well as an analysis of social activity on sites such as Facebook, could one day be used to improve the diagnosis of mental illnesses, Mr Ebersman said. Other executives at his new company, Lyra Health, include chief technology officer Daniel Tunkelang, a data scientist who previously worked at professional social networking company LinkedIn.

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Posted in * Culture-Watch, * Economics, Politics, --Social Networking, Anthropology, Blogging & the Internet, Economy, Ethics / Moral Theology, Globalization, Health & Medicine, Labor/Labor Unions/Labor Market, Science & Technology, Theology

PBS' Religion and Ethics Newsweekly–Diminishing Job Prospects for Protestant Pastors

SEVERSON: The reality is there are not nearly as many available jobs as pastors as there were even a few years ago. Seminaries and divinity schools have seen a drop in enrollment, and especially in the number of graduates who become pastors. There are several reasons, but the main one is that not as many people are attending mainline churches anymore. So there is less need and less money to afford a pastor. This is Greg Sterling, dean of the Yale Divinity School.

DEAN GREG STERLING (Yale Divinity School): There are about 300,000 congregations and churches in the United States. I don’t know what percentage of those are financially viable in the sense of having the capacity of supporting someone on a full-time basis, but my guess is that the majority are not.

SEVERSON: Yale Divinity School students come from several different denominations. Last year only one-in-five graduates went on to become church pastors. Sixteen percent became chaplains at hospitals and schools. About that many will teach in parochial and independent schools. A majority of the rest go to work for nonprofits, like Steven Masbach. Even as he completes his three-year master’s degree, he’s working for a church organization that builds affordable housing. He has a master’s in real estate development and was arranging financing for rich home buyers, but something was missing.

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Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, Ministry of the Ordained, Parish Ministry, Religion & Culture, Seminary / Theological Education, Theology

(CNBC) Shockingly weak productivity haunts US job gains

U.S. productivity, or output per worker hour, just registered another dismal performance. In the first quarter, it was up a bare 0.3 percent from a year earlier.

That has unfortunately become the norm. Productivity has risen just 0.6 percent on average over the past five years.

“This is the worst five-year run for productivity since the early 1980s, and the worst five-year performance on record outside of a recession,” J.P. Morgan economists observed in a client note.

Clearly, there is a problem. The trouble is determining what exactly it is””and what, if anything, to do about it.

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

(WSJ) Ebola’s Long Shadow: West Africa Struggles to Rebuild Its Ravaged Health-Care System

J.J. Dossen Memorial Hospital, on the southeastern tip of this nation recently declared free of Ebola, has three doctors and spotty electricity. Sixteen of its 46 nurses left during the Ebola crisis. When two motorcycle accident victims needed X-rays, the hospital dispatched them in its only ambulance on a bumpy eight-hour ride to the nearest facility with a machine.

The deadly disease may have receded, but it is still exacting a heavy toll. Run-down, poorly staffed and equipped health facilities allowed Ebola to explode. Since it was identified in early 2014, the epidemic has claimed the lives of 507 health-care workers in three West African countries, all of which already were short of medical professionals. The health-care system was so overwhelmed with Ebola victims that many other patients couldn’t receive care for malaria, heart disease or pregnancy complications. That bill is coming due.

“There are more people who are going to die from Ebola, but not have Ebola,” says Paul Farmer, a Harvard professor and co-founder of the Boston-based charity Partners in Health.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Africa, Anthropology, Economy, Ethics / Moral Theology, Foreign Relations, Health & Medicine, Pastoral Theology, Politics in General, Theology

(Time) Ian Bremmer–These Are the 5 Facts That Explain the FIFA Scandal

The U.S. cracking down on international football’s governing body looks like a recipe for geopolitical disaster. Fortunately, the only thing the world hates more than American unilateralism is corrupt officials compromising the integrity of the world’s most popular sport. These five facts explain the FIFA scandal and the geopolitical implications of this growing story.

1. Sepp Blatter

Nine FIFA officials were indicted last week by the U.S. Department of Justice for taking $150 million in bribes while awarding FIFA broadcast rights. This kicked off a Swiss investigation into the bidding process for the 2018 Russia World Cup and the 2022 Qatar World Cup. Since the story broke last week, FIFA president Sepp Blatter has managed to win reelection and then resign his post.

For years the worst-kept secret in sports was FIFA’s extensive ”˜patronage’ system. Blatter is accused of using FIFA development money, earmarked for promoting soccer in impoverished nations, to secure votes and general support for his initiatives. FIFA generated nearly $6 billion over the last four years””that’s a lot of money to work with.

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Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Foreign Relations, Globalization, Law & Legal Issues, Personal Finance, Politics in General, Sports, Theology

(WSJ) U.S. Suspects Hackers in China Breached About 4 Million People’s Records, Officials Say

he Federal Bureau of Investigation is probing an apparently far-reaching penetration of data held by the Office of Personnel Management, in which the records of approximately 4 million individuals were compromised, according to people familiar with the matter.

U.S. officials suspect hackers based in China are behind the attack, though they continue to investigate, these people said. One official described it as one of the largest thefts of government data ever seen.

Investigators said the hack was a separate attack from one detected last year.

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Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Defense, National Security, Military, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Science & Technology, The U.S. Government, Theology

(CNBC) New retirement age is not 65, not 80, not 95: It's higher

Human life has reached an inflection point””one that matters a great deal for those planning for retirement.

One hundred years ago, the average lifespan was about 42. That’s now doubled. People are living longer and trying to stretch their income to make ends meet and stay ahead of inflation, but that’s not the inflection point financial advisors are really concerned about””that’s just the everyday blocking and tackling on behalf of client portfolios. The emerging challenge goes way beyond that.

Scientists have found the mechanisms that govern aging and are already doing experiments in rats on how to reverse it. They’ve found species that do not die of old age, such as the jellyfish Turritopsis.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Aging / the Elderly, America/U.S.A., Anthropology, Economy, Ethics / Moral Theology, Health & Medicine, Pastoral Theology, Personal Finance, Science & Technology, Social Security, The U.S. Government, Theology

(WSJ) SEC Eyes Broadened ”˜Clawback’ Restrictions for some Company Executives

U.S. companies whose financial statements contain errors may soon have to “claw back” some of their top executives’ compensation as a result.

The Securities and Exchange Commission will soon propose long-awaited rules forcing companies to claw back, or revoke, some of their top officials’ incentive pay if they have to restate the financial results that led to it, according to people familiar with the agency’s internal deliberations.

Unlike existing rules, in which clawbacks are triggered only in a narrow set of circumstances involving misconduct at companies that restate earnings, the SEC’s proposal would apply to all manner of restatements””including those issued because of mistakes.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Corporations/Corporate Life, Economy, Ethics / Moral Theology, Law & Legal Issues, Politics in General, Stock Market, The U.S. Government, Theology

(NYT) World Economy Improving at Sluggish Pace, O.E.C.D. Reports

The world economy continues to heal at a disappointingly slow pace, the Organization for Economic Cooperation and Development said on Wednesday, but it predicted that growth should return to a healthier rate close to its long-term goal by the end of 2016.

“Global growth is improving, but it’s not good enough,” Catherine L. Mann, the organization’s chief economist, said in a conference call held before the release of the forecast by the O.E.C.D., the research and policy organization of the world’s richest countries. “It’s a B-minus performance.”

The slow growth has had harmful consequences, Ms. Mann said, contributing to weak labor markets and rising inequality in many countries.

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Economy, Ethics / Moral Theology, Globalization, Theology

(AP) FBI using low-flying spy planes over U.S.

The FBI is operating a small air force with scores of low-flying planes across the U.S. carrying video and, at times, cellphone surveillance technology – all hidden behind fictitious companies that are fronts for the government, The Associated Press has learned.

The planes’ surveillance equipment is generally used without a judge’s approval, and the FBI said the flights are used for specific, ongoing investigations. The FBI said it uses front companies to protect the safety of the pilots and aircraft. It also shields the identity of the aircraft so that suspects on the ground don’t know they’re being watched by the FBI.

In a recent 30-day period, the agency flew above more than 30 cities in 11 states across the country, an AP review found.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Defense, National Security, Military, Economy, Ethics / Moral Theology, Law & Legal Issues, Politics in General, Psychology, Science & Technology, Terrorism, The U.S. Government, Theology

(NBC) Meet MEDi, the Robot Taking Pain Out of Kids' Hospital Visits

Five-year-old Cooper Tidmarsh lost his foot in a lawnmower accident two weeks ago and has been in the hospital ever since ”” an ordeal that has been made less traumatic with a little TLC from an unlikely source.

A robot.

MEDi is two feet tall and weighs 11 pounds ”” and looks he belongs on a shelf at a high-end toy store. He’s all fun and games, but for a very serious purpose.

At six hospitals in Canada and one in the United States, MEDi is helping to lower stress for children getting uncomfortable procedures, tests or shots.

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Posted in * Culture-Watch, * Economics, Politics, Anthropology, Children, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, Marriage & Family, Science & Technology, Theology

(W Post) Simran Jeet Singh–A Muslim woman beat Abercrombie & Fitch: why that is good news

What has been at stake here is not just a single employer that has discriminated against one individual. The largest employer in America ”“ the Department of Defense ”“ has a rule in place that discriminates against anyone who wears a hijab or turban or maintains facial hair for religious reasons. Individuals who maintain articles of faith, such as these, are not allowed to serve in the U.S. military without a rarely granted accommodation.

A large majority of Americans affected by such discriminatory policies belong to minority faith communities, and the Supreme Court’s decision directly impacts how we think about equal opportunity and religious freedom in this country.

Elauf demonstrated that she recognizes her case would have bearing for a number of different communities. “I am not only standing up for myself, but for all people who wish to adhere to their faith while at work,” she said, following the oral arguments. “Observance of my faith should not prevent me from getting a job.”

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, America/U.S.A., Corporations/Corporate Life, Economy, Ethics / Moral Theology, Islam, Labor/Labor Unions/Labor Market, Law & Legal Issues, Other Faiths, Religion & Culture, Theology