In 1999, Desert Storm veteran Dale Sutcliffe asked his father-in-law, a Korean War veteran, if he would attend a hypothetical reunion with his old Army unit.
“I’d be on the next plane to Korea to see those guys,” Sutcliffe remembers his father-in-law, David Mozingo, saying.
That led Sutcliffe, now of Mount Pleasant but living in Boston at the time, to think about developing an online registry for veterans to reconnect with one another.
Even as Americans’ trust in government eroded in recent years, people kept faith in a handful of agencies and institutions admired for their steadiness in ensuring the country’s protection.
To safeguard the president, there was the solidity of the Secret Service. To stand vigil against distant enemies, the U.S. nuclear missile corps was assumed to be on the job. And to ward off threats to public health, the nation counted on the Centers for Disease Control and Prevention.
Now, in the space of just a few months, the reputations of all those agencies – as well as the Veterans Administration – have been tarred by scandal or tarnished by doubt. Maybe a public buffeted by partisan rhetoric and nonstop news should be used to this by now. But, with the CDC facing tough questions about its response to the Ebola outbreak, something feels different. Government is about doing collectively what citizens can’t do alone, but its effectiveness is premised on trust.
The Roma constitute the largest ethnic minority in Europe. While many think the continent would be better off without them, the Roma have lived in Europe for more than 1,500 years, and represent one of Europe’s last, great hopes.
But currently, the Roma are among the continent’s most underserved communities. And like Europe’s Jews, and newcomers from Africa and the Middle East, they’re finding themselves caught up in a resurgence of racism and xenophobia.
The unemployment rate for Roma in Bulgaria was 59% in 2010, and 50% in Romania according to a seminal World Bank report, while average unemployment in Bulgaria was 11.6%, and 7.3% in Romania in 2013.
I accept the doctors’ conclusion — mandatory quarantine is a bad idea — but not the way they justify it. You don’t have to be a cynic, a slanted term, to argue for “better safe than sorry.” The calculus isn’t simple, either. The crucial thing, though, is that the doctors’ sensible conclusion doesn’t rest solely on the science.
It requires a delicate judgment about many different risks and costs — the risk of extra U.S. cases in the short run, the risk of discouraging health workers from traveling to West Africa so that the disease keeps spreading there, the cost in civil liberty of restricting people’s movements, and so on. I agree with the doctors about where the balance lies, but the issue isn’t easy and, in any event, it isn’t just about the science of Ebola.
The doctors conclude, “We should be honoring, not quarantining, health care workers who put their lives at risk…” We should indeed be honoring them — and, unless I’m mistaken, we are — but that comment isn’t science; it’s pure politics. Forgive me for stating what should be obvious, but if the facts about the transmission of Ebola were different, one could imagine that mandatory quarantine would be justified; and if it were, the policy would imply no disrespect to the health professionals involved.
The standard portrayals of economic life for ordinary Americans and their families paint a bleak picture of stagnancy, rising economic inequality, joblessness, and low levels of economic mobility. From President Barack Obama’s speech last year at the Center for American Progress to Fed chairman Janet Yellen’s address this month in Boston, we’re getting the picture that the American Dream looks to be in bad shape. These portrayals contain an important germ of truth ”” today’s economy isn’t doing ordinary Americans many favors ”” but what is largely missing from the public conversation about economics in America is an honest discussion of the family factor in all of this.
That’s unfortunate, because one reason ”” though, to be sure, not the only reason ”” that the American economic landscape looks bleaker today is that American families are not as strong and stable as they could be. Indeed, in a new report released this week from the American Enterprise Institute and the Institute for Family Studies, we find that about one-third of recent increases in family-income inequality and male joblessness, and a significant share of median family-income stagnation, can be linked to the declining share of Americans who are getting and staying married….
The U.S. health care apparatus is so unprepared and short on resources to deal with the deadly Ebola virus that even small clusters of cases could overwhelm parts of the system, according to an Associated Press review of readiness at hospitals and other components of the emergency medical network.
Experts broadly agree that a widespread outbreak across the country is extremely unlikely, but they also concur that it is impossible to predict with certainty, since previous Ebola epidemics have been confined to remote areas of Africa. And Ebola is not the only possible danger that causes concern; experts say other deadly infectious diseases – ranging from airborne viruses such as SARS, to an unforeseen new strain of the flu, to more exotic plagues like Lassa fever – could crash the health care system.
South Carolina ranks 37th in the country in terms of its tax structure being friendly to business.
The state’s biggest problems, according to an annual analysis by the nonprofit, nonpartisan Tax Foundation, are its high individual income tax and its unemployment insurance rates.
The issue of tax reform has been touched on during this year’s gubernatorial campaign, but it hasn’t played a central role.
Many of the people who read this article will do so because Greg Marra, 26, a Facebook engineer, calculated that it was the kind of thing they might enjoy.
Mr. Marra’s team designs the code that drives Facebook’s News Feed ”” the stream of updates, photographs, videos and stories that users see. He is also fast becoming one of the most influential people in the news business.
Facebook now has a fifth of the world ”” about 1.3 billion people ”” logging on at least monthly. It drives up to 20 percent of traffic to news sites, according to figures from the analytics company SimpleReach. On mobile devices, the fastest-growing source of readers, the percentage is even higher, SimpleReach says, and continues to increase.
These debt statistics come from Debt.org:
“More than 160 million Americans have credit cards.””The average credit card holder has at least three cards.””On average, each household with a credit card carries more than $15,000 in credit card debt.”
Not only do we have large amounts of credit card debt, we also have student loans, mortgages, cars, and medical debts. Our debt is growing faster than our income, and many middle class workers have trouble staying afloat. Money-Zine evaluated debt growth and income growth over the past few decades and found that “back in 1980, the consumer credit per person was $1,540, which was 7.3% of the average household income of $21,100. In 2013, consumer debt was $9,800 per person, which was 13.4% of the average household income of $72,600. This means debt increased 70% faster than income from 1980 through 2013.”
“Bankruptcy? Repossession? Charge-offs? Buy the car YOU deserve,” says the banner at the top of the Washington Auto Credit website. A stock photo of a woman with a beaming smile is overlaid with the promise of “100% guaranteed credit approval”.
On Wall Street they are smiling too, salivating over the prospect of borrowers taking Washington Auto Credit up on its enticing offer of auto financing. Every car loan advanced to a high-risk, subprime borrower can be bundled into bonds that are then sold on to yield-hungry investors.
The much heralded asset-backed securities purchase programme will only yield about €250bn-€450bn in assets over the next two years. More LTRO (or the newer targeted LTRO) will prove a challenge as sovereign bond yields in Europe are so low that a large balance sheet expansion through this means seems impractical. Perhaps there is another €500bn-€750bn to do over the next year or two. Outright purchases of sovereign debt would prove politically difficult, as many would interpret such purchases as violating the ECB’s mandate and the matter would probably end up in the European courts.
The bottom line is that none of the tools currently on the table will get the job done. There are not enough assets to purchase or finance and the timetable to get anything done is too long. Policy makers do not have the luxury of a year or two to figure this out. The ECB balance sheet shrinks virtually daily and as it shrinks, the monetary base of Europe is contracting and putting downward pressure on prices. Europe is clearly in danger of falling into the liquidity trap, if it is not already there. The likelihood of a “lost decade” like that experienced in Japan is rapidly increasing. The ECB must act and act quickly.
The world economy is not in good shape. The news from America and Britain has been reasonably positive, but Japan’s economy is struggling and China’s growth is now slower than at any time since 2009. Unpredictable dangers abound, particularly from the Ebola epidemic, which has killed thousands in West Africa and jangled nerves far beyond. But the biggest economic threat, by far, comes from continental Europe.
Now that German growth has stumbled, the euro area is on the verge of tipping into its third recession in six years. Its leaders have squandered two years of respite, granted by the pledge of Mario Draghi, the European Central Bank’s president, to do “whatever it takes” to save the single currency. The French and the Italians have dodged structural reforms, while the Germans have insisted on too much austerity. Prices are falling in eight European countries. The zone’s overall inflation rate has slipped to 0.3% and may well go into outright decline next year. A region that makes up almost a fifth of world output is marching towards stagnation and deflation.
Optimists, both inside and outside Europe, often cite the example of Japan. It fell into deflation in the late-1990s, with unpleasant but not apocalyptic consequences for both itself and the world economy. But the euro zone poses far greater risks. Unlike Japan, the euro zone is not an isolated case: from China to America inflation is worryingly low, and slipping.
Smart, connected products offer exponentially expanding opportunities for new functionality, far greater reliability, much higher product utilization, and capabilities that cut across and transcend traditional product boundaries. The changing nature of products is also disrupting value chains, forcing companies to rethink and retool nearly everything they do internally.
These new types of products alter industry structure and the nature of competition, exposing companies to new competitive opportunities and threats. They are reshaping industry boundaries and creating entirely new industries. In many companies, smart, connected products will force the fundamental question, “What business am I in?”
Smart, connected products raise a new set of strategic choices related to how value is created and captured, how the prodigious amount of new (and sensitive) data they generate is utilized and managed, how relationships with traditional business partners such as channels are redefined, and what role companies should play as industry boundaries are expanded.
The phrase “internet of things” has arisen to reflect the growing number of smart, connected products and highlight the new opportunities they can represent. Yet this phrase is not very helpful in understanding the phenomenon or its implications. The internet, whether involving people or things, is simply a mechanism for transmitting information. What makes smart, connected products fundamentally different is not the internet, but the changing nature of the “things.”
I'm angry at the sudden presentation of a €2bn bill to the UK by the EU. It's an appalling way to behave and I won't be paying it on Dec 1st
— David Cameron (@David_Cameron) October 24, 2014
To compensate for its economy performing better than other EU countries since 1995, the UK will have to make a top-up payment on December 1 representing almost a fifth of the country’s net contribution last year. France, meanwhile, will receive a €1bn rebate, according to Brussels calculations seen by the Financial Times.
The one-off bill will infuriate eurosceptic MPs at an awkward moment for the prime minister, who is wrestling with strong anti-EU currents in British politics that are buffeting his party and prompting a rethink of the UK’s place in Europe.
"How Big Is the U.S. Market for Illegal Drugs?" – from @Rand http://t.co/xDblvHppLJ pic.twitter.com/MwmXU099qj
— PewResearch FactTank (@FactTank) October 23, 2014
Google just announced a new app called “Inbox” that has the potential to transform the way we email. But it also looks like it’s going to seriously annoy advertisers as a result.
One of the key features of the Google Now-like app is “Bundles.” Basically, Inbox automatically bundles together certain kinds of messages like bank statements and purchase receipts so it’s easy to scan through them quickly.
Another feature likely to catch the eye of advertisers is “Highlights” which helps you find key information like flight itineraries and event info, but it also pulls in information from the web that wasn’t in the original email like the real-time status of your flight.
Serum made from the blood of recovered Ebola patients could be available within weeks in Liberia, one of the countries worst hit by the virus, says the World Health Organization.
Speaking in Geneva, Dr Marie Paule Kieny said work was also advancing quickly to get drugs and a vaccine ready for January 2015.
The Ebola outbreak has already killed more than 4,500 people.
Most of the deaths have been in Guinea, Liberia and Sierra Leone.
Federal Reserve policy makers are missing a key element as they assess the health of the labor market: data that includes whether those who are employed are overqualified for their job or would like to work more hours.
As a result, the “significant underutilization of labor resources” that Fed officials highlighted last month as they renewed a pledge to keep interest rates low for a “considerable period” is probably even more severe than currently estimated. And the information gap means policy makers may have more difficulty gauging the right moment to raise rates off zero.
“We have more slack than the official statistics suggest,” said Michelle Meyer, a senior U.S. economist at Bank of America Corp. in New York. “Because it’s difficult to measure underutilization, there’s still a lot of uncertainty as to how much slack remains, which means there’s uncertainty as to the appropriate stance of monetary policy.”
Of the many things that are worrying investors around the world, from tumbling oil prices to the spectre of recession and deflation in Europe, one of the most important, and least understood, is China’s debt. For the past few years China has been on a borrowing binge. Its total debt””the sum of government, corporate and household borrowings””has soared by 100% of GDP since 2008, and is now 250% of GDP; a little less than wealthy nations, but far higher than any other emerging market….
Since most financial crashes are preceded by a frantic rise in borrowing””think of Japan in the early 1990s, South Korea and other emerging economies in the late 1990s, and America and Britain in 2008””it seems reasonable to worry that China could be heading for a crash. All the more so because the nominal growth rate, the sum of real output and inflation, has tumbled, from an average of 15% a year in the 2000s to 8.5% now, and looks likely to fall further as inflation hit a five-year low of 1.6% in September. Slower nominal growth constrains the ability of debtors to pay their bills, making a debt crisis more likely.
Reasonable, but wrong. China has a big debt problem. But it is unlikely to cause a sudden crisis or blow up the world economy. That is because China, unlike most other countries, controls its banks and has the means to bail them out. Instead, the biggest risk is complacency: that China’s officials do too little to clean up the financial system, weighing down its economy for years with zombie firms and unpayable loans.
It has been revealed that the Anglican Development Fund (Bathurst Diocese) owes approximately $39.3 million to its creditors.
Joint and several receivers and managers of the Anglican Development Fund (Bathurst Diocese), McGrathNicol partners Joseph Hayes and Barry Kogan, have taken some of the assets of the Anglican Development Fund and made initial payments to creditors.
A spokesperson for McGrathNicol said that as a result of further recoveries, notice of intention to declare a second distribution was advertised on October 8.
He said the Anglican Development Fund acted primarily as a financial intermediary.
In an age of smartphones, instant messaging and 24/7 availability, it’s increasingly hard to find time to step away and reconnect with one’s self, especially in fast-paced tech hubs like Silicon Valley.
But before you lock your smartphone in a closet for an hour a day, check out some of the apps and websites available for learning and practicing the ancient art of meditation and the more contemporary mindfulness-based stress reduction.
You don’t need a new gadget to meditate ”” all the equipment necessary comes installed in the product.
But some meditation and mindfulness trainers are using technology in interesting ways. They range from simple meditation timers to complete courses.
Even if one ignores some very important issues ”“ such as just what DNA patterns can predict about the likelihood of developing any of the diseases for which risk factor screening is done (basically, little if anything); how using the 23andMe tests to determine health risks is currently prohibited by the FDA in the U.S.; and the potential for obtaining disrupting, disturbing, or even destructive information about family connections (which is a far from trivial possibility) ”“ serious additional concerns arise in this country. These stem from the ongoing absence of genetic privacy and genetic discrimination laws in Canada, a contrast with the U.S. where there are (some) longstanding protections against misuses of DNA data.
This suggests that when someone in Canada gets a report of its findings from 23andMe, there is no way to keep insurance companies or employers from asking about it. Maybe not directly, but during an interview, applicants might be asked if they have ever had any genetic testing and, if so, what was found. Not to reveal that testing was done could be seen as providing a false answer and thereby disqualify the individual from coverage or a job. Maybe this is not as bad as learning a father is not really the man you thought he was, or as pleasing as finding you have a sister who was adopted into another family living nearby, but definitely a more negative outcome than is desirable.
Sometimes, though, another analogy makes more sense. In this story, the US is the first to climb a cliff. Other countries are tethered to the US by ropes. The overall pace of ascent depends on the burden of debt each country has to carry. One false move by the US will wreck the entire enterprise. Yet the US will only get to the top if the others also make steady progress. At the moment, they are more in danger of losing their footing, thereby dragging down the US.
Births outside of marriage are increasing most among those without college degrees and in cohabiting couples ”“ as well as for those in their twenties, as Isabel Sawhill and Joanna Venator correctly note. This trend is driven as much by economic as social change, and so requires economic and well as social solutions.
…this is a classic case of predatory pricing: set your price low enough long enough to do real damage to competitors, and reduce their market share, not just immediately, but in the middle to long term.
Now admittedly some pet targets may not be hurt as badly as hoped. Russia will suffer more of an opportunity loss than an actual cost from the price reduction, since the ruble has fallen significantly against the dollar. The Saudis may hope to partially displace Russia as a supplier of oil to Europe (now roughly 1/3 of the total) but refineries would need to be retooled to refine the Saudi’s light crude, so it isn’t clear whether even what amounts to bargain prices will offset this cost (and readers point out that Russian crude may also produced a better mix of distillates for European use, since they are much heavier users of diesel fuel than the US).
But aside from the not-inconsiderable economic impact, the surprise Saudi step looks to be an even bigger geopolitical winner. The US and Riyadh have been at odds for over a year; the Saudis were particularly unhappy over the US failure to try to topple Assad last summer (you may recall the intensity of the Administration warmongering versus the dubious US interest; even Congress showed an unexpected amount of backbone and made its lack of support for Syrian adventurism clear). The Saudis have also long been less than happy with the US refusal to attack Iran (which is a rare case of the US acting as a responsible hegemon and curbing a putative ally with a bad case of blood lust). That unhappiness has ben compounded by the US now effectively helping the Assad regime and working in as distanced a manner as possible with Iran in targeting ISIS.
For the American and British economies it has been a long road out of the woods, but the journey is nearing its end. America’s unemployment rate fell below 6% in September. Britain’s economy, where output was up 3.2% in the year to June, is growing faster than any other big rich country’s. Central bankers are counting the days until they can raise interest rates.
Virtually everywhere else, however, the news is grim and getting grimmer. The euro zone, the world’s second-biggest economic area, seems to be falling from a feeble recovery back into outright recession as Germany hits the skids. Shockingly weak industrial production and export figures mean Germany’s GDP is likely to shrink for the second consecutive quarter””a popular definition of recession. Japan, the world’s third-biggest economy, may also be on the edge of a downturn, because April’s rise in the consumption tax is hurting spending more than expected. Russia’s and Brazil’s economies are stagnant, at best. Even in China, still growing at a suspiciously smooth 7.5% a year, there are worries about a property bust, a credit bubble and a fall in productivity
They have health insurance, but still no peace of mind. Overall, 1 in 4 privately insured adults say they doubt they could pay for a major unexpected illness or injury.
A new poll from The Associated Press-NORC Center for Public Affairs Research may help explain why President Barack Obama faces such strong headwinds in trying to persuade the public that his health care law is holding down costs.
The survey found the biggest financial worries among people with so-called high-deductible plans that require patients to pay a big chunk of their medical bills each year before insurance kicks in.
The leader of the Church of England has spoken of his plan for Britain’s “ambitious” young bankers to give up work for a year and join a “quasi-monastic community” so they can learn about ethics ahead of entering the City.
Archbishop of Canterbury Justin Welby has called on some of the UK’s brightest and most ambitious young bankers to quit work temporarily so they can pray and serve the poor.
He said he believed their natural ambition would encourage them to join his Godly community.