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.

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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.

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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.

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The share of new homes being built as rental apartments is at the highest level in at least four decades, as an improving jobs picture spurs younger Americans to form their own households but tighter lending standards make it more difficult to buy.

Residential construction””a pillar of the economy and employment””is starting to ramp up again overall, but in previous years the growth was driven by single-family homes. Last year, according to census data, construction was started on a little less than one million new residential units, and about one in three of those was a rental in a multifamily building, the highest share since data began in the mid-1970s. Single-family homes accounted for about two-thirds of housing starts last year, down from their peak of 87% in 1993 and about 80% in the years leading up to the recession, the census data showed.

The move toward apartment construction reflects the convergence of several trends. Mortgage credit is still tight. Also, Americans have seen muted wage gains, and others have high student-debt loads, forcing people who otherwise would have bought homes to rent instead.

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The man responsible for the Church of England’s £6bn endowment has defended plans to increase its investment in hedge funds, arguing that not all of the industry has “devil’s horns”.

Andreas Whittam Smith, First Church Estates Commissioner, told the Financial Times that the Church’s own ethical watchdog sanctioned short selling, providing it was done in a responsible way.

He added that the group “does not have ethical concerns about short selling per se as an investment practice,” and “did not make an ethical distinction between seeking to profit from a rise in the value of a security as against seeking to profit from a fall.”

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Canadians are in a funk. Things are better than ever, but people are feeling worse. “The trend lines are disturbing,” EKOS pollster Frank Graves wrote recently, reporting that public pessimism is deepening. “”¦ Only around 10 per cent of Canadians and Americans think the next generation will enjoy a better quality of life.”

Well, maybe they will or maybe they won’t. Meantime, this generation is doing pretty well. Despite recessions, globalization and the inexorable rise of the robots, most of us never had it so good. In 2011, the median real income for Canadian two-parent families with two earners was $100,000 ”“ $13,000 higher than in 2000. The annual average unemployment rate is down to 7 per cent. Despite the soaring cost of housing, nearly 70 per cent of us have an ownership stake in our own homes.

So what’s our problem?…

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A critical shortage of affordable housing affects the long-term economic health of the region and strains the budgets of many homeowners and renters, according to a new study.

Some 33 percent of homeowners and 50 percent of renters are living in housing they can not afford. Those affected include teachers, police officers and others in the tri-county’s largely service-based economy, says the report released by the Berkeley, Charleston, Dorchester Council of Governments.

“Housing affordability greatly impacts the ability to retain existing businesses and attract new industries,” it says.

Read it all from the local paper.

Hamish Ogston pledged the money to the Anglican Church shortly after the February 2011 quake and, after seeing nothing had been done with the building, has reiterated his offer.

Mr Ogston says there is only a $15 million shortfall after his pledge, other offers and insurance money.

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The economy finished 2013 on a weaker footing than first thought, the government said on Friday, heightening concern that the United States is in the midst of another of the periodic slow patches that have dogged the recovery over the last five years.

The Commerce Department now estimates the economy grew at an annual pace of 2.4 percent in October, November and December, down from an initial estimate of 3.2 percent. The revised figure also represents a substantial slowing from the pace of growth in the third quarter, which totaled 4.1 percent. The department is scheduled to provide one more estimate of growth during the fourth quarter on March 27.

The downward revision comes after new data showing lackluster retail sales, inventory adjustments and a slightly less impressive trade balance late last year. Disappointing reports on job creation in December and January have also prompted fear of continued weakness into the spring of 2014.

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The Bishop’s Palace at Wells was discussed by the Board of Governors of the Church Commissioners at its meeting last Tuesday (25th February). This was the first meeting of the Board since it made its decision at the end of November last year.

At the meeting the Commissioners were given an opportunity to read the correspondence received and examine the petition recently presented to the Secretary to the Commissioners. They were also provided with a report of the public meeting attended by Sir Tony Baldry MP.

During their discussion the Commissioners discussed the views of those opposed to their decision and acknowledged the strong feelings that the decision had aroused within the diocese. It was noted that there were also voices of support for the decision.

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South Carolina’s military communities are bracing for an uncertain future after Defense Secretary Chuck Hagel on Monday called for deep cuts to the Army in 2015.

While Fort Jackson in Columbia – where more than 45,000 recruits are trained annually – is the obvious target, Charleston’s and other installations also may be in the cross hairs since Hagel also called for a new round of base-closure reviews in 2017.

Still, the decision on rekindling a Base Realignment and Closure Commission depends on Congress, which has delayed the assessments in recent years in the interest of protecting jobs at home.

Read it all from the local paper.

50% of GDP comes from orange areas, 50% from blue.

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A St. John’s developer was all set to proceed with a 90-unit subdivision situated on more than 16 acres of land east of Portugal Cove Road.

But there’s a catch ”” the party that allegedly sold the land is claiming there is not an agreement of purchase or sale in place.

Powder House Hill Investments Ltd. is suing the Anglican Church’s Diocesan Synod of Eastern Newfoundland and Labrador for $9 million as a result, claiming that figure represents the value of a lost business opportunity. A statement of claim was filed in the Supreme Court of Newfoundland and Labra­dor earlier this month.

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For those in positions of leadership in over a dozen churches in..[Pictou County] it’s been a tough job knowing when to do what.

Declining membership, coupled with population decline, migration, rising heating costs and a decline in those practising Christianity, has caused churches of all stripes to re-examine themselves, their mission and their facilities.

Archdeacon Peter Armstrong of Christ Anglican Church in Stellarton believes this is part of a continuing cultural shift that began 40 years ago.

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To help money flow more evenly across the currency area, Coeure said the idea of cutting into negative territory the rate the ECB pays banks to hold their deposits overnight was “a very possible option”.

“That is something we are considering very seriously. But you should not expect too much of it,” he said of a negative deposit rate.

The ECB left policy on hold last week but President Mario Draghi put markets on alert for possible action in March, saying the Governing Council would have more information at its disposal by then, including new forecasts from the bank’s staff that will extend into 2016 for the first time.

Read it all from Reuters.

Deirdre Lyons, Pearse’s wife and director of Alltech’s corporate image, is spearheading plans to renovate the building, which is surrounded by 300,000 graves, including that of Pearse Lyons’ grandfather, John Hubert Lyons.

“I’m working with a historic preservation architect and a team to restore it to its former glory,” Deirdre Lyons said. The building hasn’t been a church in decades and most recently was a lighting store, so it is in pretty sad shape, she said. Half the steeple and the stained glass windows are gone.

Alltech paid about $900,000 for the building, plus about $45,000 to the Church of Ireland to release the site from covenants that would have prevented the sale or use of alcohol.

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The economy had its best second half in a decade, indicating that the U.S. is on firmer footing. But the current expansion remains slow, and the pace of growth still is weak historically.

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The Bishop of Taunton has called for more consultation over plans to move the new Bishop of Bath and Wells out of a flat in the 800-year-old palace.

The Right Reverend Peter Maurice said the Church Commissioners had not spent enough time before making “a major decision of this kind”.

Bishop Maurice plans to put a question about the decision to the General Synod – the Church of England’s ruling body.

The Church Commission said the move would give the bishop more privacy.

Read it all and there is also more there.

The £900,000 mansion that will become the home of a newly-appointed bishop was previously sold by the Church of England for less money, it has been revealed.

The Grade II-listed Georgian former rectory was sold for £750,000 in 2007 after the church deemed it ‘unsuitable’ for the clergy.

But the diocese is set to buy back the imposing property for the Right Reverend Peter Hancock in a controversial move away from his traditional historic palace.

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More than five years later, there is still no answer to perhaps the most critical question raised by the man-made disaster: How much did it all cost?

In July, three economists at the Federal Reserve Bank of Dallas, Tyler Atkinson, David Luttrell and Harvey Rosenblum, gave it a shot, at least as far as the United States economy goes.

…their examination offers a panoramic view of the variety of ways in which the financial crisis diminished the nation’s standard of living. At a bare minimum the crisis cost nearly $20,000 for each American. Adding in broader impacts on workers’ well-being ”” an admittedly speculative exercise ”” could raise the price tag to as much as $120,000 for every man, woman and child in the United States. With this kind of money we could pay back the federal debt or pay for a top-notch college education for everyone.

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The US Federal Reserve was being complacent by planning for years of below-target inflation, warned Minneapolis Fed President in a clarion call for more economic stimulus.
“We’re running the risk of being content with inflation running consistently below our target. That’s inappropriate,” said Narayana Kocherlakota, who votes on Fed monetary policy this year, in an interview with the Financial Times. “Right now we’re sitting with an outlook for inflation that even by 2016”‰.”‰.”‰.”‰is not getting back to 2 per cent.”

Mr Kocherlakota’s remarks illustrate the growing anxiety about low global inflation that led Christine Lagarde, head of the International Monetary Fund, to warn this week that “rising risks of deflation” could be disastrous for the world’s economic recovery ”“ calling it the “ogre that must be fought decisively”.

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The Church of England has been accused of scoring an “extraordinary” own goal spending hundreds of thousands of pounds buying a house for a bishop so he would not live in the grandeur of a medieval palace.

The Church Commissioners, the Church’s property arm, announced last month that the next bishop of Bath and Wells will not live in the 800-year-old palace occupied by his predecessors.

Instead, the Rt Rev Peter Hancock will be housed in a property outside Wells offering greater “privacy” and which would be more “conducive to effective ministry and mission”.

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More Americans, 42%, say they are financially worse off now than they were a year ago, reversing the lower levels found over the past two years. Just more than a third of Americans say their financial situation has improved from a year ago.

These results come from Gallup’s annual “Mood of the Nation” poll, conducted Jan. 5-8. Gallup has found that Americans’ economic confidence, self-reported consumer spending, and perceptions of job creation improved in 2013. Despite Americans’ more positive views of the overall U.S. economy in 2013, nearly two-thirds believe their personal financial situation deteriorated or was stable over the past year.

Though down from mid-2013, the percentage of Americans saying they are financially better off than a year ago is nearly in line with the historical average (38%), spanning 1976-2014. On the other hand, the share of Americans saying they are financially worse off compared with a year ago is, by historical standards, high — eight percentage points above the average. The record high of 55% occurred in May and September 2008, the year (and, in the latter case, the month) of the global financial meltdown.

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Here’s what we learned from the in-depth report on how women are doing in post-recession America.

–1 in 3 American women, 42 million women, plus 28 million children, either live in poverty or are right on the brink of it. (The report defines the “brink of poverty” as making $47,000 a year for a family of four.)
–Nearly two-thirds of minimum wage workers are women, and these workers often get zero paid sick days.
–Two-thirds of American women are either the primary or co-breadwinners of their families.

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The Vancouver School of Theology (VST) is selling its Iona Building, in the theological neighbourhood of the University of British Columbia (UBC) campus, to UBC for an agreed price of $28 million.

The deal has yet to be finalized by both sides, but the schools announced in a joint press release that UBC plans to take possession of the building in July 2014 and begin using the facility, which will house UBC’s Vancouver School of Economics.

VST, an independent theological school, plans to use part of the proceeds of the sale to continue its existing operations as a theological college at UBC and to set aside a substantial portion of the remainder in an endowment that will generate income to support professional and pastoral training. It retains ownership of nearby Somerville House and Chapel of the Epiphany. The Iona Building was built in 1927 on land leased from UBC for 999 years.

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Just six months ago, 35-year-old Air Force veteran Robert Wright returned to the Charleston area with his wife and four children to face an uncertain future.

A large cyst on Wright’s brain had resulted in his medical retirement from the service he joined in 1997, serving multiple deployments overseas. With a stent in his brain and unable to work, Wright would be staying at home with wife Bethany, 33, who home-schools their four children, two of whom have medical issues as well.

They never expected that home would be a new 5-bedroom house, fully furnished and mortgage-free, in the emerging McKewn subdivision in North Charleston.

Read it all from the local paper.

American consumers in 2013 were more upbeat than at any time in the previous six years as views on the economy, finances and the buying climate improved.

The Bloomberg Consumer Comfort Index…averaged minus 31.4 for 2013, the highest since 2007, when it was minus 10.5. The weekly index fell for the first time since mid-November, dropping to minus 28.7 for the period ended Dec. 29, from minus 27.4.

An improved job market, higher stock prices and rising home values lifted sentiment at the end of the year and helped drive holiday retail shopping. Stronger wage and employment growth would help propel bigger gains in confidence and encourage Americans to boost spending, which accounts for almost 70 percent of the economy.

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Although the Fed expects to keep reducing the program “in measured steps” next year, the timing and the course isn’t preset. “Continued progress [in the economy] is by no means certain,” Mr. [Ben] Bernanke said. “The steps that we take will be data-dependent.”

If the Fed proceeds at the pace he set out, it would complete the bond-buying program toward the end of 2014 with holdings of nearly $4.5 trillion in bonds, loans and other assets, nearly six times as large as the Fed’s total holdings when the financial crisis started in 2008.

Still, officials””worried that investors would quake at the thought of less Fed support””went to lengths to demonstrate that they would keep interest rates low for years to come, even after the bond-buying program ends.
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While plenty of baby boomers, born from 1946 to 1964, have become affluent and many elderly around the U.S. face financial hardship, the wealth disparity of this father and daughter is emblematic of a broad shift occurring around the country. A rising tide of graying baby boomers is less secure financially and has a lower standard of living than their aged parents.

The median net worth for U.S. households headed by boomers aged 55 to 64 was almost 8 percent lower, at $143,964, than those 75 and older in 2011, according to Census Bureau data. Boomers lost more than other groups in the stock market and housing bust of 2008, and many also lost their jobs in the aftermath at a critical point in their productive years.

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Americans see little prospect that President Barack Obama and Congress can get much done beyond keeping the government open for the next few months.

A Bloomberg National Poll finds 78 percent of respondents say the political gridlock in Washington will hurt the nation’s economy in 2014.

Large majorities say they want the government to ensure the new health-care law functions well, that policy makers agree to revise the tax code, and that an accord is reached to provide a pathway to U.S. citizenship for undocumented immigrants.

Yet most doubt those things can be accomplished in the current political environment…

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