Category : Economy

(Bloomberg) Catalonia to Hold Election, Seizing Chance to Force Rajoy on Autonomy

…Rajoy is the victim of his electoral success: his majority government, ironically, is weaker for not including regionalist partners. The Catalan government sees the dissatisfaction with Madrid’s handling of the crisis as an opportunity: it may give the regionalists enough of a boost at the polls to force Madrid to hand them more autonomy, in other words, control of taxes. If Catalonia had control over its own taxes, the argument goes, the region would not have needed a bailout.

Rajoy’s choices are limited: he either refuses Catalan demands for more autonomy and risks enflaming Catalan nationalist sentiment, or agrees to increased autonomy, and risks enflaming Spanish nationalist sentiment.

Read it all.

Posted in * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, France, Germany, Greece, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Politics in General, Spain, Stock Market, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(USA Today) Military leaders battle junk food

Several hundred retired military leaders are raising red flags about childhood obesity in the USA and its impact on finding qualified recruits. They want junk food to be booted out of schools.

Mission: Readiness, a group of more than 300 retired generals and admirals, says in a report out today that the 40% of students who buy high-calorie, low-nutrient junk food from school vending machines and cafeteria a la carte lines consume an average of 130 calories a day from those types of foods (candy, chips, cookies, pastries). That’s roughly 5% to 10% of the calories kids and teens should eat in a day.

Three-quarters of those ages 17 to 24, or about 26 million young people, cannot serve in the military, a quarter of them because they are overweight or obese, says retired Air Force lieutenant general Norman Seip, a spokesman for Mission: Readiness.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Children, Consumer/consumer spending, Corporations/Corporate Life, Defense, National Security, Military, Dieting/Food/Nutrition, Economy, Health & Medicine, Teens / Youth

(Forbes) Top Medicare Drug Plans Jacking Up Premiums By Double-Digits

Premium increases in certain Medicare drug plans may be more volatile next year with some popular plan rates jumping by double-digit percentages, a new study shows.

A report by Avalere Health, a Washington-based advisory firm and consultant to the health care industry said seven of the 10 most popular prescription drug plans chosen by seniors have double-digit percentage increases in their monthly premiums. Here’s a link to the Avalere report that analyzes the so-called Medicare Part D drug plans that contract with the Centers for Medicare and Medicaid Services to offer seniors prescription drug coverage.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Economy, Health & Medicine, Medicare, Personal Finance, The U.S. Government

In New Jersey's Gloucester County, child poverty rates are on the rise

(Please note that you can find a map of all New Jersey counties here. You may know that I grew up in Lawrenceville, which is in Mercer County–KSH).

Just 30 minutes outside Philadelphia, amid the rolling farmland that produces some of the nation’s largest peach and bell pepper crops, more Gloucester County parents are seeking help to feed their children, while others live in tents in the wooded areas near major shopping centers.

From 2010 to 2011, the rate of child poverty in Gloucester County more than doubled, a shocking statistic in a county where the median income is more than $72,000, according to census data. In 2011, 7,395 children in Gloucester County were living in families earning about $22,000 a year or less, up from 4,687 children in 2010, according to census figures.

“Gloucester County is a distinctly middle-class place,” said Assemblyman John Burzichelli (D., Gloucester). “When you see those kind of numbers, it’s a reflection of what’s happening with the national economy.”

Read it all.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, Children, City Government, Dieting/Food/Nutrition, Economy, Episcopal Church (TEC), Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Marriage & Family, Parish Ministry, Politics in General, Poverty, TEC Parishes, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

Matt Marino Chimes in–What Should the Right Approach be to 21st Century Parish Ministry?

Today…the church may look healthy on the outside, but it has swallowed the fatal pills. The evidence is stacking up: the church is dying and, for the most part, we are refusing the diagnosis.

What evidence? Take a gander at these two shocking items:

1. 20-30 year olds attend church at 1/2 the rate of their parents and ¼ the rate of their grandparents. Think about the implication for those of us in youth ministry: Thousands of us have invested our lives in reproducing faith in the next generation and the group we were tasked with reaching left the church when they left us.

2. 61% of churched high school students graduate and never go back! (Time Magazine, 2009) Even worse: 78% to 88% of those in youth programs today will leave church, most to never return. (Lifeway, 2010) Please read those last two statistics again. Ask yourself why attending a church with nothing seems to be more effective at retaining youth than our youth programs.

We look at our youth group now and we feel good. But the youth group of today is the church of tomorrow, and study after study after study suggests that what we are building for the future is”¦

”¦empty churches.

Read it all.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Church History, Consumer/consumer spending, Ecclesiology, Economy, Episcopal Church (TEC), Ministry of the Ordained, Parish Ministry, Pastoral Theology, Psychology, Religion & Culture, Teens / Youth, Theology, Young Adults, Youth Ministry

In South Carolina, Columbia preparing for fewer federal, more private-sector jobs

Columbia leaders are trying to prepare the Midlands for an economy based on a leaner federal government and more white-collar jobs in the private sector.

“Everyone is rather bullish on the economy here in the Midlands, but I think nationally we’re seeing people come out of this Great Recession and focus on getting people back to work,” Mayor Steve Benjamin said. “We are aggressively seeking to attract more corporate headquarters, more white-collar jobs and make sure people are prepared for these jobs in the new economy.”

Columbia is projected to lose 16 percent of its federal jobs over the next 10 years as the overextended federal government trims down, according to a new report from IHS Global Insight, prepared for the U.S. Conference of Mayors, which is holding a meeting on workforce skills this week in Dallas.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * South Carolina, Economy, Labor/Labor Unions/Labor Market, The U.S. Government, Urban/City Life and Issues

Ref Rage: Seahawks stun Packers as controversial call leads to last-second TD in 14-12 win

Just when the anger and complaints from a weekend of contempt toward replacement officials couldn’t get any hotter, a disputed call trumps it all.

Replacement ref rage peaked Monday night thanks to Seattle’s Golden Tate, and a bizarre touchdown call that will be debated, questioned and re-ignite frustrations over the locked-out officials.

Tate pushed a Green Bay defender out of the way, wrestled another for the ball and was awarded a touchdown on the final play to give the Seahawks a 14-12 victory over the Packers.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Corporations/Corporate Life, Economy, Ethics / Moral Theology, Men, Sports, Theology

U.S. Warns Hospitals on Medicare Billing

Saying there are “troubling signs” of abuse in the way hospitals use electronic records to bill for Medicare and Medicaid reimbursement, the Obama administration warned in a letter to hospital associations Monday that it would not tolerate what it called “gaming the system” and vowed to vigorously prosecute doctors and hospitals implicated in fraud.

The strongly worded letter, signed by Attorney General Eric H. Holder Jr. and Kathleen Sebelius, the secretary of health and human services, said that “electronic health records have the potential to save money and save lives.” But the letter continued: “There are troubling indications that some providers are using this technology to game the system, possibly to obtain payments to which they are not entitled. False documentation of care is not just bad patient care; it’s illegal.”

Read it all.

Posted in * Culture-Watch, * Economics, Politics, --The 2009 American Health Care Reform Debate, Consumer/consumer spending, Corporations/Corporate Life, Economy, Health & Medicine, Law & Legal Issues, The U.S. Government

17 states see higher poverty rates

States saw little relief from poverty in the past year, especially among children, the unemployed and those in the lowest income brackets.

The latest Census figures show that 17 states had increases in the number of people living in poverty between 2010 and 2011. Only one state, Vermont, had a decrease; the other 32 showed no change.

Although the national poverty rate has been steady at 15.9%, the Census data show pockets of increases by geography and among demographic groups. The data reflect the economy’s slow recovery and anemic job growth, policy analysts say.

“The problem is high unemployment,” says Chuck Sheketoff, executive director of the Oregon Center for Public Policy….

Read it all.

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

City of York Fairness Commission To Present Final Report

The York Fairness Commission will present its Final Report to the leaders of City of York Council on Thursday 27th September at an event at Bishopthorpe Palace.

The presentation of the report will be the culmination of months of work to see how inequality and unfairness can be tackled across York, in the face of a difficult economic situation nationally.

Whilst research shows two fifths of York residents are relatively well off, living in the best 20% of places in the country, around 13,000 residents in the City live in the most deprived 20% of the country. In addition , City of York Council must make £19.7m worth of savings over the next two years due to cuts imposed by central government.

Read it all.

Posted in * Anglican - Episcopal, * Economics, Politics, * International News & Commentary, Archbishop of York John Sentamu, City Government, Economy, England / UK, Politics in General

Battle over numbers in debate over expansion of Medicaid in South Carolina

Would an expansion of Medicaid under the federal health-care law help or hinder South Carolina’s finances? Depends who you ask.

Strains of disagreement are building against the backdrop of a campaign by Gov. Nikki Haley’s administration to build opposition to an expansion.
Generally opposed by Republicans and favored by Democrats, the debate over whether to expand the Medicaid program in the states is set to play out in many statehouses across the country. That’s because a June Supreme Court ruling made the extension of coverage optional.

In the Palmetto State, advocates for the expansion contend Haley’s administration is emphasizing the costs and underselling offsetting economic benefits of an expansion.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * South Carolina, --The 2009 American Health Care Reform Debate, Aging / the Elderly, Budget, Consumer/consumer spending, Corporations/Corporate Life, Economy, Health & Medicine, Law & Legal Issues, Politics in General, Poverty, State Government, The U.S. Government

Archbishop of the Anglican Church of Rwanda–Religion Not a Business

While addressing over 50 religious leaders at the Democracy and Peace Week dialogue, Rwaje said some members of the public shun going to church due to disappointment of messages relayed.

“Religious leadership is a calling from God and it is about teaching the word of God, but not looking for money from the faithful. There are biblical principles urging churchgoers to give offerings and tithes, but it should not be used as a platform to squeeze money out of believers,” Rwaje advised.

He added: “Religious leaders are allowed to have their personal business ventures besides performing their church duties; therefore, they should act faithfully and please God by keeping the two positions independent of each other. They must separate God’s work from their personal work”.

Read it all.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, Africa, Anglican Provinces, Church of Rwanda, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Parish Ministry, Religion & Culture, Rwanda, Stewardship, Theology

WCC General Secretary–European churches are called to confront current financial crisis

Citing the European churches’ “strong commitment over the past century to the ecumenical movement and fellowship in Europe,” WCC general secretary Rev. Dr Olav Fykse Tveit urged their direct engagement in the current financial and social crisis in and beyond Europe.

Their past commitment “has changed the realities of Europe. It has borne much fruit on other continents. That can, and should, happen again,” he added.

Tveit shared this message at the General Assembly of the Community of Protestant Churches in Europe (CPCE) on 21 September in Florence, Italy.

Read it all and note the link to the full text of his remarks at the bottom.

Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Ecumenical Relations, Ethics / Moral Theology, Euro, Europe, European Central Bank, Parish Ministry, Religion & Culture, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Theology

([London] Times) Liverpool bishop calls for new rules to control the powerful

The bishop who chaired the panel responsible for exposing the devastating truth about the Hillsborough disaster has called for a national debate to establish accountability and to allow those in positions of authority to win back trust.

As Liverpool play a highly-charged game at Anfield against Manchester United this weekend, the Bishop of Liverpool, the Right Rev James Jones, said that society was at a “crossroads”. His report, published last week, finally disclosed the extent of the cover-ups and lies told as authorities attempted to deflect blame for the 96 deaths.

He called for discussion that would help to restore accountability and trust to the police and other authorities. “It is timely for us to reconsider how people in positions of power, whoever they may be, behave in a transparent and accountable manner because to do so will then win back the trust which is so vulnerable at the moment in our society,” said the Bishop….

Read it all (requires subscription).

Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, * International News & Commentary, Anglican Provinces, Archbishop of Canterbury, Church of England (CoE), CoE Bishops, Corporations/Corporate Life, Economy, England / UK, Ethics / Moral Theology, History, Law & Legal Issues, Police/Fire, Politics in General, Stock Market, The Banking System/Sector, Theology, Urban/City Life and Issues

Most Greeks feel new austerity measures are unfair: poll

An overwhelming majority of Greeks believe new austerity measures the government has promised its international lenders in exchange for more financial aid are unfair and hurt the poorest sections of society, a poll showed on Saturday.

Near-bankrupt Greece needs the European Union and International Monetary Fund’s blessing on measures worth nearly 12 billion euros ($16 billion) to unlock its next tranche of aid, without which it faces default and a potential exit from the euro zone.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Economy, Europe, Foreign Relations, Greece, History, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Politics in General, Psychology, Taxes, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

From the Keeping Things in Perspective-NOT-Department

“I feel like if I leave it at home, I go a bit crazy,” said James Vohradsky, a 20-year-old student who had queued for 17 hours with his sister. “I have to drive back and get it. I can’t do my normal day without it….”

–From a Reuters article this week about the launch of the newest version of Apple’s Iphone

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

(Fox Business) Threat of Cyber Attacks Grows as Protesters Turn Digital

Anger over a film trailer mocking a sanctified Muslim religious figure has sparked violent protests across the Middle East that have taken the lives of dozens of people. Now, the strife is manifesting itself in the form of cyber war waged against America at home.

Over the course of this week, three major U.S. financial institutions have seen their web infrastructure targeted in technical attacks. On at least two occasions, groups or individuals claiming to be aligned with Muslims said the attacks were a reprisal for the ”˜Innocence of Muslims’ trailer that ridiculed the Prophet Mohammad.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Africa, America/U.S.A., Blogging & the Internet, Corporations/Corporate Life, Defense, National Security, Military, Economy, Foreign Relations, Islam, Middle East, Other Faiths, Politics in General, Science & Technology

Task Force–California Debt, Instead of Being 28 Billion, is 167 to 335 Billion

Gov. Jerry Brown of California announced when he came into office last year that he had found an alarming $28 billion “wall of debt” looming over the state, which had to be dismantled.

Since then, he has slowed the issuance of municipal bonds, called for spending cuts and tried to persuade the state’s famously antitax voters to approve a tax increase this fall.

On Thursday, an independent group of fiscal experts said Mr. Brown’s efforts were all well and good, but in fact, the “wall of debt” was several times as big as the governor thought.

Read it all.

Posted in * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Politics in General, State Government, Taxes, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

(USA Today) Fewer Americans commuting solo

The dismal economy and skyrocketing gas prices may have accomplished what years of advocacy failed to: getting more people to stop driving solo. The share of workers driving to work alone dropped slightly from 2010 to 2011 while commutes on public transportation rose nationally and in some of the largest metropolitan areas, according to Census data out today Thursday.

Group commuting ”” riding buses, trains, subways or sharing cars or vans ”” rose from 2005 to 2011 in more than a third of 342 metropolitan areas for which data exist, according to a USA TODAY analysis.

About two-thirds saw jumps in residents using public transit. The share driving to work alone dropped in about two-thirds or more than 200 metros.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Economy, Travel

(Globe and Mail) Rising ”˜grey divorce’ rates create financial havoc for seniors

According to Statistics Canada, “grey divorce” has been steadily growing among those 55 and over, with rates expected to increase as more people continue to age.

While marriage remains the predominant family structure in Canada, it only represents 67 per cent of Canadian families, down from 70.5 per cent a decade ago ”” and 91.6 per cent in 1961, before the advent of the Divorce Act, Statistics Canada reported Wednesday in its latest batch of 2011 census data.

And for the first time, the number of common-law families in Canada outstripped the number of single-parent families in 2011, another sign of the declining popularity of matrimony.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Aging / the Elderly, Canada, Economy, Law & Legal Issues, Marriage & Family, Personal Finance

Median Household Income Falls for the fourth straight year in 2011

After hitting $54,489 in 2007 (inflation adjusted), median household income has dropped by nearly $4,500:

2007 – $54,489
2008 – $52,546
2009 – $52,195
2010 – $50,831
2011 – $50,054

Median household income is defined by the U.S. Census Bureau as “the amount which divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount.”

Read it all and you can find the full census report there.

Posted in * Culture-Watch, * Economics, Politics, Economy, History, Personal Finance, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

Archbishop Nichols interviewed by Vatican Radio–Seeking an new way of doing business in the UK

Over 200 people from the UK’s leading businesses met in London this morning to search for a new blueprint for doing better business in Great Britain. They were seeking to unite corporate purpose with personal values so that businesses better serve society. The conference explored the themes of the business need for change, the inevitability of a conflict between profit maximisation and developing common good, and the distinctive practical contribution of a faith based ethical framework to personal and corporate responsibility.

The conference was facilitated by the Archbishop of Westminster, Vincent Nichols.

“I think one of the most vivid images that we had this morning was that a duty of business is to contribute to the adhesiveness of a society ”“ to its ”˜glue’ is the phrase that we used ”“ because if a society doesn’t have some glue, then it’s bad for business,” Archbishop Nichols said. “Because it’s difficult to understand that society. It’s difficult to get to appreciate what its needs are and what therefore what business can creatively respond to.”

Listen to it all (a little over 9 minutes).

Posted in * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Other Churches, Religion & Culture, Roman Catholic, Stock Market, The Banking System/Sector, Theology, Urban/City Life and Issues

Archbishop of Westminster: Bankers should aspire to be like Olympic heroes

While the front pages of our newspapers have been dominated the Olympics and Paralympics, the business pages continue to reflect the human and economic costs of a business ethos that culminated in the financial crisis and subsequent loss of trust in banking and business.

Four years or more after the crisis broke, we are still talking of the lessons to be learnt ”“ but not much nearer identifying what exactly they are, let alone applying them.

I was encouraged by several prominent business leaders to explore whether the Church was able to provide a forum for further reflection on this situation, so we could together move on.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, Corporations/Corporate Life, Economy, England / UK, Ethics / Moral Theology, Law & Legal Issues, Other Churches, Psychology, Religion & Culture, Roman Catholic, Stock Market, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Theology

(ENS) Clerics sometimes break the law in the pursuit of justice

Read it all.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, Economy, Episcopal Church (TEC), Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Law & Legal Issues, Ministry of the Ordained, Parish Ministry, Police/Fire, Stock Market, The Banking System/Sector, Theology

(Economist) The euro zone’s leaders have turned a corner. Where to, is not yet clear

When history books trace the evolution of the euro crisis, September 2012 will mark the beginning of a new chapter. Recent days have seen decisive moves from Europe’s notoriously incremental policymaking machinery. On September 12th Germany’s constitutional court backed the European Stability Mechanism (ESM), the euro zone’s permanent rescue fund, removing the last big hurdle to its launch. The same day, the European Commission laid out a blueprint for joint European banking supervision, the first step to a banking union. Days earlier the European Central Bank (ECB) announced that, under certain conditions, it would buy unlimited amounts of the bonds of troubled euro-zone countries.

Taken together, these actions mark a big change. At best, they constitute the foundations of a more sustainable monetary union. The euro zone now has a plan for bank supervision. It will be haggled over and watered-down, but the record of European diplomacy suggests that once proposals exist, something, eventually, tends to be agreed on…. Most important, the euro zone now has a central bank committed to being a lender of last resort. Yes, the commitment is conditional on countries securing help from, and adhering to, a rescue plan. But the ECB has made clear, for the first time, that it is willing to intervene without limit if need be.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, Law & Legal Issues, Politics in General, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

Cindi Scoppe–The sales tax slouch, or How South Carolina burns away its tax base

So people who spend most of their money on groceries and gasoline and electricity ”” usually the poorest among us ”” effectively pay a lower sales tax, because those items aren’t taxed. So do wealthier people who spend most of their money on services ”” from lawn care to attorney fees ”” which also are untaxed. People who spend more of their money on clothing or electronics or restaurant meals or most consumer goods pay a higher effective tax rate because those items are taxed.

Now, there are perfectly legitimate reasons to write exemptions into the tax code. It can make the code more equitable: A sales tax is regressive, because poor people must spend a larger portion of their income than wealthier people, who are able to save or invest more; exempting groceries is one way to make the tax less regressive. Exemptions also can discourage those activities that we as a society want to discourage and encourage activities that we want to encourage; hence, a higher tax on cigarettes, and tax breaks for creating jobs in low-income counties.

The problem comes when the loopholes swallow the whole ”” as they clearly have when twice as many sales are exempted as taxed. The problem comes when the tax exemptions do not reflect generally agreed-upon values, but instead reflect the lobbying power of the favored interests. Or inertia.

Read it all.

Posted in * Economics, Politics, * South Carolina, Corporations/Corporate Life, Economy, Personal Finance, Politics in General, State Government, Taxes

(The Billfold) How a landscape architecture graduate ended up running Iraq's elections

Ten years ago, I was nearly 30 and over $90,000 in debt. I had spent my twenties trying to build an interesting life; I had two degrees; I had lived in New York and the Bay Area; I had worked in a series of interesting jobs; I spent a lot of time traveling overseas. But I had also made a couple of critically stupid and shortsighted decisions. I had invested tens of thousands of dollars in a master’s degree in landscape architecture that I realized I didn’t want halfway through. While maxing out my student loans, I had also collected a toxic mix of maxed-out credit cards, personal loans, and $2,000 I had borrowed from my father for a crisis long since forgotten. My life consisted of loan deferments and minimum payments.

Like so many other lost children, I had fallen into a career in IT. The work was boring, but led to jobs with cool organizations””a lot of jobs, because I kept quitting them. As soon as I had any money in the bank, I’d quit and go backpacking in Southeast Asia. My adventures were life-changing experiences, but I was eventually left with a CV that was pretty scattershot.

My luck securing interesting jobs dried up. In 2001, I ended up living with my dad for four months and working at a banking infrastructure company in suburban Pittsburgh. I should have taken that as a warning that I needed to get it together, but I thought it was just an aberration. It was not.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Croatia, Economy, Education, Europe, Iraq, Middle East, Personal Finance, Politics in General, Young Adults

(Wash. Post) Financially troubled parts of Europe consider taxing church properties

Cash-strapped officials in Europe are looking for a way to ease their financial burden by upending centuries of tradition and seeking to tap one of the last untouched sources of wealth: the Catholic Church.

Thousands of public officials who have seen the financial crisis hit their budgets are chipping away at the various tax breaks and privileges the church has enjoyed for centuries.

Read it all.

Posted in * Christian Life / Church Life, * Culture-Watch, * Economics, Politics, * Religion News & Commentary, Economy, Housing/Real Estate Market, Law & Legal Issues, Other Churches, Parish Ministry, Religion & Culture, Roman Catholic, Taxes, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

Ezra Klein on the Federal Reserve–Ben Bernanke is the economy’s tough, older friend

The Federal Reserve’s announcement Thursday is a big deal.

It’s a big deal because of what they’re doing. They’re buying $85 billion in assets every month through the end of the year, and then they’re potentially going to keep doing it in 2013. They’re promising to keep interest rates low through the recovery, and then keep them low after the recovery strengthens.

But it’s a bigger deal because of what they’re saying. Thursday, the Federal Reserve said, finally, that they’re not content with 8 percent unemployment and a sluggish recovery, and they’re willing to actually do something about it. If you’re an investor or a business owner trying to decide what the market is going to look like next year, you just got a lot more optimistic.

Read it all and there is more (with reasons for concern) there.

Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Federal Reserve, Globalization, History, Psychology, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The U.S. Government

(FT) Silicon Valley is hoping technology can reform the labyrinthine US medical system

Entrepreneurs say their technology could smooth revolutionary reforms of medical care in the US, which spends $2.6tn a year on health, or 17 per cent of gross domestic product. As policy changes roll out over the next few years, insurance companies will be forced to limit their profits, and hospitals will face penalties if patients return to the hospital within 30 days of being discharged. Doctors will no longer be paid for how many X-rays they take or laboratory tests they run but for how well their patients are doing.

However, while the entrepreneurs exude optimism about their ability to streamline the healthcare system, the sprawling industry proved resistant of reforms in the 1990s. It was difficult to translate the vision of a few bright technology experts to the massive healthcare administration sector.

Fears about the proposed technology revolution resonate in several other countries that have hit roadblocks when turning to technology to address healthcare problems. Doctors and other medical professionals around the world have historically been slow to adopt new technology, wary of the costs and the time needed to learn and adjust to new administrative procedures.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, City Government, Consumer/consumer spending, Corporations/Corporate Life, Economy, Health & Medicine, Law & Legal Issues, Politics in General, Science & Technology, State Government, The U.S. Government