Category : Economy

The AP Article on the Supreme Court Hobby Lobby Case

Seemingly divided, the Supreme Court struggled Tuesday with the question of whether companies have religious rights, a case challenging President Barack Obama’s health overhaul and its guarantee of birth control in employees’ preventive care plans.

Peppering attorneys with questions in a 90-minute argument, the justices weighed the rights of for-profit companies against the rights of female employees. The discussion ranged to abortion, too, and even whether a female worker could be forced to wear an all-covering burka.

The outcome could turn on the views of Justice Anthony Kennedy, often the decisive vote, as his colleagues appeared otherwise to divide along liberal and conservative lines.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --The 2009 American Health Care Reform Debate, America/U.S.A., Corporations/Corporate Life, Economy, Health & Medicine, Law & Legal Issues, Religion & Culture

(Washington Post) Supreme Court divided as it hears argument on contraceptive coverage

A divided Supreme Court seemed inclined to agree Tuesday that the religious beliefs of business owners may trump a requirement in President Obama’s Affordable Care Act that they provide their employees with insurance coverage for all types of contraceptives.

With both snow and demonstrators gathering on the sidewalk outside, it was difficult to predict a precise outcome from the spirited 90-minute argument.

But a majority of the justices seemed to agree that the family-owned businesses that objected to the requirement were covered by a federal statute that gives great protection to the exercise of religion. That would mean the government must show the requirement is not a substantial burden on their religious expression, and that there was no less intrusive way to provide contraceptive coverage to female workers.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, Law & Legal Issues, Life Ethics, Politics in General, Religion & Culture, Theology

(NYT) In new economic divide, the poor smoke more

When smoking first swept the United States in the early decades of the 20th century, it took hold among the well-to-do. Cigarettes were high-society symbols of elegance and class, puffed by doctors and movie stars. By the 1960s, smoking had exploded, helped by the distribution of cigarettes to soldiers in World War II. Half of all men and a third of women smoked.

But as evidence of smoking’s deadly consequences has accumulated, the broad patterns of use by class have shifted: Smoking, the leading cause of preventable death in the country, is now increasingly a habit of the poor and the working class.

While previous data established that pattern, a new analysis of federal smoking data released on Monday shows that the disparity is increasing. The national smoking rate has declined steadily, but there is a deep geographic divide. In the affluent suburbs of Washington, only about one in 10 people smoke, according to the analysis, by the Institute for Health Metrics and Evaluation. But in impoverished places like this ”” Clay County, in eastern Kentucky ”” nearly four in 10 do.

Read it all (from the front page of the paper copy of today’s New York Times).

Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Economy, Health & Medicine, Personal Finance, Poverty

(NYT) General Motors Misled Grieving Families on a Lethal Flaw

It was nearly five years ago that any doubts were laid to rest among engineers at General Motors about a dangerous and faulty ignition switch. At a meeting on May 15, 2009, they learned that data in the black boxes of Chevrolet Cobalts confirmed a potentially fatal defect existed in hundreds of thousands of cars.

But in the months and years that followed, as a trove of internal documents and studies mounted, G.M. told the families of accident victims and other customers that it did not have enough evidence of any defect in their cars, interviews, letters and legal documents show. Last month, G.M. recalled 1.6 million Cobalts and other small cars, saying that if the switch was bumped or weighed down it could shut off the engine’s power and disable air bags.

In one case, G.M. threatened to come after the family of an accident victim for reimbursement of legal fees if the family did not withdraw its lawsuit. In another instance, it dismissed a family with a terse, formulaic letter, saying there was no basis for claims.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Law & Legal Issues, Marriage & Family, Theology, Travel

(The State) In South Carolina, Explaining the penalty phase of the health insurance mandate

….with less than 10 days left in the 2014 window to apply for coverage with policies through the federal marketplace, lots of people still don’t understand the penalties. Who pays? Who doesn’t? How do you pay? How do you avoid paying?

Toni McKinnon of Columbia stopped by Richland Library’s main branch on Assembly Street last week to find out about the health insurance marketplace because she was worried about having to pay a penalty.

“When you’re living paycheck to paycheck, you can’t afford insurance,” McKinnon said, “and you sure can’t afford to pay some kind of penalty.”

She left the library slightly confused and very disappointed.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Consumer/consumer spending, Economy, Ethics / Moral Theology, Health & Medicine, Law & Legal Issues, Personal Finance, Politics in General, State Government, Taxes, The U.S. Government, Theology

(FT) The United States loses its edge as a jobs powerhouse

The US is losing its edge as an employment powerhouse, where most people have a job or are looking for one, after its labour participation rate fell behind the UK’s.

The diverging trends between the US and the UK come as central bankers in both countries try to understand the dynamics in their respective labour markets, a critical factor in how long they should keep interest rates at record lows.

The labour force participation rate ”“ the proportion of adults who are either working or looking for work ”“ started to decline in the US in 2000 and has plunged since 2008 from 66 to 63 per cent.

Read it all (if necessary another link Read it all).

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

(BBC) St Luke's 'bombed out' Church in Liverpool could be sold

A shell of a church in Liverpool struck by a bomb in World War Two could be sold, according to the city’s mayor.

Talks about the future of St Luke’s Church, which was destroyed by a bomb in 1941, were ongoing Joe Anderson said.

He added it would only be sold if the buyer protected it as a tribute to those who died in World War Two.

Read it all.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, Anglican Provinces, Church History, Church of England (CoE), Defense, National Security, Military, Economy, England / UK, History, Housing/Real Estate Market, Parish Ministry, Religion & Culture, Stewardship

(WSJ) About 36% of all Web traffic is fake, the product of computers hijacked by viruses

Billions of dollars are flowing into online advertising. But marketers also are confronting an uncomfortable reality: rampant fraud.

About 36% of all Web traffic is considered fake, the product of computers hijacked by viruses and programmed to visit sites, according to estimates cited recently by the Interactive Advertising Bureau trade group.

So-called bot traffic cheats advertisers because marketers typically pay for ads whenever they are loaded in response to users visiting Web pages””regardless of whether the users are actual people.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Media, Science & Technology, Theology

(WSJ) U.S. Scurries to Shore Up Spying on Russia

U.S. military satellites spied Russian troops amassing within striking distance of Crimea last month. But intelligence analysts were surprised because they hadn’t intercepted any telltale communications where Russian leaders, military commanders or soldiers discussed plans to invade.

America’s vaunted global surveillance is a vital tool for U.S. intelligence services, especially as an early-warning system and as a way to corroborate other evidence. In Crimea, though, U.S. intelligence officials are concluding that Russian planners might have gotten a jump on the West by evading U.S. eavesdropping.

“Even though there was a warning, we didn’t have the information to be able to say exactly what was going to happen,” a senior U.S. official says.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Economy, Europe, Foreign Relations, Politics in General, Russia, Science & Technology

(Guardian) Vicars report greatest job satisfaction while publicans are least happy

Want to be happy in your work? Go to theological college and avoid a career pulling pints. That would seem to be one conclusion to draw from a new study into wellbeing and public policy, which found that employees reporting greatest job satisfaction were vicars, while publicans ”“ who on average earn almost £5,000 a year more ”“ were the least happy in their work.

Overall job satisfaction, in fact, has little to do with salary, according to the figures drawn from Office for National Statistics data. While company chief executives, earning £117,700 a year on average, were found to be the second happiest employees (mean clergy income by contrast is a mere £20,568), company secretaries, fitness instructors and school secretaries, all earning less than £19,000 a year, emerged among the top 20 most satisfying careers.

Read it all.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, Anglican Provinces, Church of England (CoE), Economy, England / UK, Labor/Labor Unions/Labor Market, Ministry of the Ordained, Parish Ministry, Psychology, Religion & Culture

(Washington Post Op-ed) George Will–Confronting the real Challenge of Poverty

In March 1965, [Daniel Patrick] Moynihan, then 37 and assistant secretary of labor, wrote that “the center of the tangle of pathology” in inner cities ”” this was five months before the Watts riots ”” was the fact that 23.6 percent of black children were born to single women, compared with just 3.07 percent of white children. He was accused of racism, blaming the victims, etc.

Forty-nine years later, 41 percent of all American children are born out of wedlock; almost half of all first births are to unmarried women, as are 54”‰percent and 72 percent of all Hispanic and black births, respectively. Is there anyone not blinkered by ideology or invincibly ignorant of social science who disagrees with this:

The family is the primary transmitter of social capital ”” the values and character traits that enable people to seize opportunities. Family structure is a primary predictor of an individual’s life chances, and family disintegration is the principal cause of the intergenerational transmission of poverty.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Anthropology, Economy, Ethics / Moral Theology, History, Law & Legal Issues, Marriage & Family, Politics in General, Poverty, The U.S. Government, Theology

Hank Hanegraaff–Why I am worried about The Osteenification of American Christianity

Why Osteenification? Because Joel Osteen is the prime provocateur of a seductive brand of American Christianity that reduces God to a means to our ends. A message that beckons multitudes to the table of the Master, not for the love of the Master but for what is on the table. He is the de facto high priest of a new brand of Christianity perfectly suited for a feel-good generation. And while a host of pretenders (including Prince) follow in his train, Osteen is clearly the biggest of the bunch””according to People magazine, “twice as big as the nearest competitor.” And his claim to America’s largest church is just a small part of the story. With one billion impressions per month on Facebook and Twitter, Osteen is the hip new personification of God-talk in America.

But here’s the problem. Behind Osteenian self-affirmations””“I am anointed,” “I am prosperous,” “My God is a ”˜supersizing God’”””there lies a darker hue. Behind the smile is a robust emphasis on all that is negative. If you are healthy and wealthy, words created that reality. However, if you find yourself in dire financial straits, contract cancer, or, God forbid, die an early death, your words are the prime suspect. Says Osteen, “We’re going to get exactly what we’re saying. And this can be good or it can be bad” (Discover the Champion in You, May 3, 2004). In evidence, he cites one illustration after the other. One in particular caught my attention: the story of a “kind and friendly” worker at the church. He died at an early age, contends Osteen, “being snared by the words of his mouth” (I Declare [FaithWords, 2012], viii”“ix).

This illustration serves to underscore a predictable trend; a trend now pandemic in American Christianity. Osteen and company simply use the Scriptures to communicate whatever they want. Again and again, Scripture is tortured in the process of deluding the faithful. As even the most cursory reading of Proverbs 6 makes plain, being “snared by the words of your mouth” has nothing to do with negatively professing death into one’s own life and everything to do with a divine warning against making rash pledges.

Read it all (with thanks to Timothy Dalrymple at Patheos for this guest post).

Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Anthropology, Christology, Consumer/consumer spending, Economy, Ethics / Moral Theology, Media, Ministry of the Ordained, Parish Ministry, Pastoral Theology, Psychology, Religion & Culture, Theology, Theology: Scripture

(NYT) Is there a limit on how much info Silcon Vally will share? On a New Social App called "Secret"

From Facebook to Twitter to Instagram and Google, many big Internet successes depend on coaxing people into sharing every last bit of information about themselves and their lives.

But a five-week old social app, Secret, is testing the limits of just how much sharing Silicon Valley thinks is a good thing. That’s because the sharing is done anonymously. And, as it turns out, much of the chatter is about Silicon Valley itself ”” offering a rare, unvarnished look at the ambitions, disappointments, rivalries, jealousies and obsessions of the engineers and entrepreneurs who live and work there.

Secret, like a number of other recent apps, connects people anonymously through their address books. Messages appear only as from “friend” or “friend of friend.” Juicy posts that receive a lot of likes or comments also appear occasionally, identified simply by the city or state where they originated.

Read it all.

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

(FT) Few of US long-term jobless find work

America’s long-term jobless face huge obstacles in returning to steady full-time employment, with just 11 per cent succeeding over the course of any given year, according to new research that raises alarm bells about structural problems in the US labour market.

The study by Alan Krueger, a Princeton University economist who served as a top economic adviser to Barack Obama between 2011 and 2013, shows that even in good times and in healthy states the long-term jobless are “at the margins” of the labour market with little hope of regaining their footing.

A big spike in long-term unemployment ”“ defined as joblessness extending beyond 26 weeks ”“ has been one of the defining features of the US recession and its aftermath. There were 3.8m long-term unemployed in February 2014, according to the latest labour department data, more than double the pre-financial crisis level of 1.9m in August 2008. The share of the jobless who have been out of work for more than six months has nearly doubled over that timeframe, from 19.8 per cent to 37 per cent.

Read it all (if necessary another link may be found there).

Update: There is more from the Washington post there.

Posted in * Culture-Watch, * Economics, Politics, Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Globalization, Health & Medicine, History, Labor/Labor Unions/Labor Market, Politics in General, Psychology, Science & Technology, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Theology

(NYT) Income Gap, Meet the Longevity Gap–“Poverty is a thief”

There have long been stark economic differences between Fairfax County and McDowell. But as their fortunes have diverged even further over the past generation, their life expectancies have diverged, too. In McDowell, women’s life expectancy has actually fallen by two years since 1985; it grew five years in Fairfax.

“Poverty is a thief,” said Michael Reisch, a professor of social justice at the University of Maryland, testifying before a Senate panel on the issue. “Poverty not only diminishes a person’s life chances, it steals years from one’s life.”

That reality is playing out across the country. For the upper half of the income spectrum, men who reach the age of 65 are living about six years longer than they did in the late 1970s. Men in the lower half are living just 1.3 years longer.

This life-expectancy gap has started to surface in discussions among researchers, public health officials and Washington policy makers.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Consumer/consumer spending, Economy, Ethics / Moral Theology, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Personal Finance, Politics in General, Poverty, Psychology, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Theology

(The Hill) Affordable Care Act premiums to skyrocket

Health industry officials say ObamaCare-related premiums will double in some parts of the country, countering claims recently made by the administration.

The expected rate hikes will be announced in the coming months amid an intense election year, when control of the Senate is up for grabs. The sticker shock would likely bolster the GOP’s prospects in November and hamper ObamaCare insurance enrollment efforts in 2015.

The industry complaints come less than a week after Health and Human Services (HHS) Secretary Kathleen Sebelius sought to downplay concerns about rising premiums in the healthcare sector. She told lawmakers rates would increase in 2015 but grow more slowly than in the past.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, House of Representatives, Law & Legal Issues, Office of the President, Personal Finance, Politics in General, President Barack Obama, Senate, Theology

(WSJ) In Business Roundtable survey, CEOs See No Quick Increase in Hiring

U.S. business leaders, encouraged by the recent break in Washington’s budget gridlock, are increasingly looking to boost spending. But that probably won’t come in ways that would drive rapid hiring or economic growth, according to a new Business Roundtable survey of top CEOs….

Nearly half of CEOs surveyed by the Washington trade group said they expect to boost U.S. capital spending in the next six months, compared with only 39% eyeing higher spending three months ago. But while 72% of CEOs see an increase in sales in the next six months, only 37% expect to boost U.S. employment, according to the survey released Tuesday. Forty-four percent see their U.S. payrolls unchanged.

Read it all.

Posted in * Economics, Politics, Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Theology

(NYT) Many Denominations Downsizing and Selling Assets in More Secular Era

The American Unitarian Association, peopled and powered by this city’s Brahmin elite, announced its presence here in 1886 with a grand and stately headquarters at the very top of Beacon Hill, right next door to the Statehouse.

If anyone doubted the denomination’s might, its next move made it clear: In 1927, strapped for space, the Unitarians finished building a new home next to the capitol on the other side, even persuading the legislature to change the street’s numbering so they could take their address with them.

But the Unitarian Universalist Association, as the denomination is now known, is selling its headquarters building, as well as two grand homes and an office building it owns in the same neighborhood. It is leaving behind the red brick sidewalks, gas streetlamps and superrich neighbors for a section of South Boston the city has designated an “innovation district,” home to up-and-coming technology and arts businesses.

The move ”” expected to bring tens of millions of dollars to the denomination ”” puts the Unitarians in increasingly familiar company.

Read it all.

Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Economy, Ethics / Moral Theology, History, Housing/Real Estate Market, Other Faiths, Parish Ministry, Religion & Culture, Secularism, Stewardship, Theology

(PBS Newshour) Calculating a U.S. response to ”˜new reality’ of Russia’s claim in Crimea

RICHARD HAASS, Council on Foreign Relations: Not a lot to add, actually, Judy.

The real question for all of us is whether what we’re hearing is one of what you might call a Crimea exceptionalism. He did this in order, say, to compensate for the loss of Kiev. And this was his way of saving face and saving some strategic position.

That’s one ”” it’s one set of problems that poses to us, mainly the way he went about it. On the other hand, if this presages something more, an effort to rebuild parts of a lost empire, then, obviously, it’s far more worrisome.

We simply don’t know. Interestingly enough, I’m not sure Mr. Putin knows. One always assume that the adversary, the guy across the table has a fully articulated and elaborated game plan. It’s quite possible he’s improvising and making this up as he goes along, and what he does next will depend in part upon what domestic reactions are and obviously, even more, what the international response is.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Economy, Ethics / Moral Theology, Europe, Foreign Relations, Politics in General, Russia, Theology, Ukraine, Violence

(WSJ) Food Prices Surge as Drought Exacts a High Toll on Crops

Surging prices for food staples from coffee to meat to vegetables are driving up the cost of groceries in the U.S., pinching consumers and companies that are still grappling with a sluggish economic recovery.

Federal forecasters estimate retail food prices will rise as much as 3.5% this year, the biggest annual increase in three years, as drought in parts of the U.S. and other producing regions drives up prices for many agricultural goods. The Bureau of Labor Statistics on Tuesday reported that food prices gained 0.4% in February from the previous month, the biggest increase since September 2011, as prices rose for meat, poultry, fish, dairy and eggs.

Globally, food inflation has been tame, but economists are watching for any signs of tighter supplies of key commodities such as wheat and rice that could push prices higher.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * General Interest, Corporations/Corporate Life, Dieting/Food/Nutrition, Economy, Personal Finance, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Weather

(The Journal) Pay us for the church we built, says County Durham councillor

Residents in a remote village who have been left without a church should be the ones to benefit from a sale of the listed building, claims a local councillor.

After parishioners in Rookhope, County Durham, learned just over a week ago that their Sunday service at the 110-year-old St John The Evangelist C of E Church was to be the last, councillor and resident John Shuttleworth is demanding recompense.

The attractive stone-built church was actually paid for and constructed by villagers so he says it’s the community who should benefit from any sale. “I think it’s fair that the money from the sale should go back to the village,” said Coun Shuttleworth who aired his views in a letter to the Diocese of Durham.

Read it all.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, Anglican Provinces, Church of England (CoE), City Government, Economy, England / UK, Housing/Real Estate Market, Parish Ministry, Politics in General, Religion & Culture, Rural/Town Life

(PS) Joseph Nye–What are a leader’s duties beyond borders in the age of globalization?

More than 130,000 people are said to have died in Syria’s civil war. United Nations reports of atrocities, Internet images of attacks on civilians, and accounts of suffering refugees rend our hearts. But what is to be done ”“ and by whom?

Recently, the Canadian scholar-politician Michael Ignatieff urged US President Barack Obama to impose a no-fly zone over Syria, despite the near-certainty that Russia would veto the United Nations Security Council resolution needed to legalize such a move. In Ignatieff’s view, if Syrian President Bashar al-Assad is allowed to prevail, his forces will obliterate the remaining Sunni insurgents ”“ at least for now; with hatreds inflamed, blood eventually will flow again.

In an adjoining article, the columnist Thomas Friedman drew some lessons from the United States’ recent experience in the Middle East. First, Americans understand little about the social and political complexities of the countries there. Second, the US can stop bad things from happening (at considerable cost), but it cannot make good things happen by itself. And, third, when America tries to make good things happen in these countries, it runs the risk of assuming responsibility for solving their problems.

So what are a leader’s duties beyond borders?

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Defense, National Security, Military, Economy, Ethics / Moral Theology, Foreign Relations, Globalization, Politics in General, Theology

Infoaholic Feast–Google has released a searchable archive of a LOT of newspapers

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Corporations/Corporate Life, Economy, History, Media, Science & Technology

Yday's Local paper had not 1 but 2 front page articles on the sluggish economy

The articles are entitled Employment of young workers has plunged as older workers remain in entry-level jobs and A Dead End–few leaving stepping-stone jobs. Read them both.

Posted in * Economics, Politics, * South Carolina, Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Personal Finance, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Theology

(Bloomberg) College Grads Taking Low-Wage Jobs Displace Less Educated

Jeanina Jenkins, a 20-year-old high-school graduate from St. Louis, is stuck in a $7.82-an-hour part-time job at McDonald’s Corp. that she calls a “last resort” because nobody would offer her anything better.

Stephen O’Malley, 26, a West Virginia University graduate, wants to put his history degree to use teaching high school. What he’s found instead is a bartender’s job in his home town of Manasquan, New Jersey.

Jenkins and O’Malley are at opposite ends of a dynamic that is pushing those with college degrees down into competition with high-school graduates for low-wage jobs that don’t require college. As this competition has intensified during and after the recession, it’s meant relatively higher unemployment, declining labor market participation and lower wages for those with less education.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Economy, Education, Labor/Labor Unions/Labor Market, Politics in General, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Young Adults

(FT) China’s Li Keqiang says defaults ”˜unavoidable’

China is likely to see a series of bond and financial product defaults as the government accelerates financial deregulation and allows more private ownership in the state-dominated sector, Li Keqiang, Chinese premier, said on Thursday.

Future defaults of financial products in China are “unavoidable” but the government will take steps to ensure they do not pose a threat to the wider financial system, Mr Li told journalists at his annual media conference.

China saw its first domestic bond default in recent history a week ago when Chaori Solar, a small Shanghai-based solar panel producer, failed to pay interest on Rmb1bn ($162m) worth of bonds it sold two years ago.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Asia, China, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Globalization, Politics in General, The Banking System/Sector, Theology

(Gallup) U.S. Economic Confidence Index Down to -20, lowest weekly score in 2014

Americans’ economic confidence continued to drop last week, with Gallup’s Economic Confidence Index edging down to -20, its lowest weekly score since mid-December.

Americans’ economic confidence had recently stabilized after monthly climbs as it recovered from the damaging effects of the federal government shutdown in October. Since the beginning of the year, confidence had remained roughly stable, hovering around -17 and fluctuating by only a point or two each week. The recent drop to -20, though a mere three-point fall, is the largest drop so far in 2014.

The Gallup Economic Confidence Index is the average of two components: Americans’ views on current economic conditions in the U.S. and their perceptions of whether the economy is getting better or worse.

Read it all.

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

(Wonkblog) Obamacare bummer ”” enrollment drops off in February

About 4.2 million people have signed up for health plans on Obamacare exchanges through the end of February, making it unlikely that the Obama administration will hit lowered enrollment estimates in the program’s first year.

Whatever momentum was building in January appeared to drop off in February, as the number of sign ups fell below the administration’s expectations. The numbers — which were released a day before Health and Human Services Secretary Kathleen Sebelius testifies on the Hill — also show young people aren’t enrolling at rates officials had predicted. That group is key because they are generally presumed to be healthier and less costly.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Economy, Ethics / Moral Theology, Health & Medicine, House of Representatives, Office of the President, Politics in General, President Barack Obama, Senate, The U.S. Government, Theology

(CNN) Future cancer patients may struggle for quality care

Jeffery Ward’s story illustrates a growing problem for cancer care in the United States, according to the American Society of Clinical Oncology’s inaugural report, “The State of Cancer Care in America,” which was released Tuesday.

Nearly two-thirds of the small oncology practices surveyed said they were likely to merge, sell or close in the upcoming year. And as community practices disappear, patients are paying more and traveling farther for quality care, an issue compounded by physician shortages and a rapidly aging population.

“If you can’t get care, you can’t get good care,” said American Society of Clinical Oncology President Dr. Clifford Hudis, chief of Breast Cancer Medicine Service at Memorial Sloan Kettering Cancer Center and a professor at Weill Cornell Medical College.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, Personal Finance, Theology

George Osborne under attack from bishops again for discriminating against 'one-earner families'

A Church of England bishop has accused the Government of penalising stay-at-home mothers and carers by discriminating against families in the tax and benefits system.

The criticism came after an inquiry by a Christian charity to be launched on Tuesday found that that married couples with only one earner keep less of every extra pound they earn in the UK than in any other country in the developed world.

Last month, church leaders including 27 Anglican bishops condemned the Coalition’s welfare policies for causing hardship and hunger, and Cardinal Vincent Nichols, leader of the Catholic Church in England and Wales, said its benefit cuts were “a disgrace”. Now the Government is under attack for being “anti-family” in a study carried out by the charity Christian Action Research and Education (CARE).

Read it all from the Independent.

Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, * International News & Commentary, Anglican Provinces, Children, Church of England (CoE), CoE Bishops, Economy, England / UK, Labor/Labor Unions/Labor Market, Law & Legal Issues, Marriage & Family, Politics in General, Taxes