HONESTY IS THE BEST POLICY
Growth remains strong in developing East Asia and Pacific, although it has slowed from its post-crisis peaks. With the global slowdown expected to continue, the region needs to reduce its reliance on exports and find new sources of growth, says the World Bank in its latest East Asia and Pacific Economic Update released today.
According to the report, entitled “Capturing New Sources of Growth,” developing East Asia and Pacific grew by 8.2 percent in 2011 (4.3 percent excluding China), a sharp decline from the nearly 10 percent growth rate recorded in 2010 (7.0 percent excluding China). The region’s performance is still impressive on a global scale. In 2011, growth was about 2 percentage points higher than the
(Source: worldbank.com)
Why isn’t the U.S. economy in a depression right now? The number one reason is because the federal government has stolen more than five trillion dollars from future generations since Barack Obama was elected and has used that money to pump up our grossly inflated standard of living. Whether the federal government spends money wisely or foolishly, the truth is that the vast majority of it still ends up in the pockets of the American people who then use it to buy the things they need for their daily lives. If the U.S. government had not borrowed and spent an extra five trillion dollars that we did not have over the past several years, we would be in the middle of a rip-roaring economic depression right now. So any talk that Barack Obama is “improving the economy” is a total farce. It is a five trillion dollar lie. The reality is that Barack Obama and the U.S. Congress have been stealing trillions of dollars from future generations in order to make things tolerable in the present.
(Source: prisonplanet.com)
The government may revise the incentives offered to investors in Special Economic Zones amid concerns over growing gaps in policy within the same province.
The Ministry of Planning and Investment has asked the government to review its investment promotion policies both within and outside Special Economic Zones, to ensure that businesses receive similar incentives to invest in the same province.
The economy will not see a downturn over the next few years if the government decides to stop granting permission for new mining investments, according to a senior economist.
“There will be no impact on our economy in the short term if the government stops giving permission for new mining projects this year,” Lao National Economic Research Institute Director General, Dr Liber Libouapao, said on Wednesday.
He made the comment after the Ministry of Planning and Investment suggested to Prime Minister Thongsing Thammavong on Tuesday that no more proposals for investment in the mining sector be accepted. Companies that have already been given the green light to conduct economic feasibility
(Source: laovoices.com)
Living in America is becoming very difficult for anyone with a moral conscience, a sense of justice, or a lick of intelligence. Consider:
We have had a second fake underwear bomb plot, a much more fantastic one than the first hoax. The second underwear bomber was a CIA operative or informant allegedly recruited by al-Qaeda, an organization that US authorities have recently claimed to be defeated, in disarray, and no longer significant.
This defeated and insignificant organization, which lacks any science and technology labs,
(Source: prisonplanet.com)
At a time when America desperately needs to come together, we are becoming more divided than ever. The mainstream media and most of our politicians love to pit us against one another in dozens of different ways, and right now class warfare has become one of their favorite tools for getting us to hate one another. If you are struggling in this economy, you are being told that “the wealthy” are the cause of your problems. If you have money, you are being told that the poor hate you and want to tax you into oblivion. Class warfare has already become a dominant theme in the 2012 race for the White House, and there will certainly be endless speeches given along these lines by politicians from both major political parties all the way up to election day. Class warfare will be used by both sides as a way to divide America and get votes. And the frightening thing is that it is
(Source: prisonplanet.com)
A new study estimates that a terrorist attack involving the detonation of a dirty bomb in downtown Los Angeles would cost the area $16 billion, mostly in lost revenue. By contrast, the immediate cost of such an attack, loosely defined as the cost necessary to deal with the injured and restore the area to a pre-attack condition along with revenue lost due to temporary businesses closings, is estimated at a little over $1 billion. The rest of the cost would result from the psychological impact of the attack on potential shoppers, diners and employees.
(Source: economiccollapse.net)
The human capacity for self-delusion truly is remarkable. Most people out there end up believing exactly what they want to believe even when the truth is staring them right in the face. Take the U.S. economy for example. Barack Obama wants to believe that his policies have worked and that the U.S. economy is improving. So that is what he is telling the American people. The mainstream media wants to believe that Barack Obama is a good president and that his policies make sense and so they are reporting that we are experiencing an economic recovery. A very large segment of the U.S. population still fully supports Barack Obama and they want to believe that the economy is getting better so they are buying the propaganda that the mainstream media is feeding them. But is the U.S. economy really improving? The truth is that it is not. The rate of employment among working age Americans is exactly where it was two years ago and household incomes have actually gone down while Obama has been president. Home ownership levels and home
(Source: prisonplanet.com)
Due to the economic recession in the United States, the Americans find it very much difficult to get suitable jobs after they complete their education. As such, they are unable to pay off their student loans and are facing financial problems. Student loan debt may cause an economic mess in similarity with the mortgage crisis. As per the study by the National Association of Consumer Bankruptcy Attorneys, the Americans owe more on student loans than on credit cards. The total outstanding loans have exceeded to $1 trillion for the first time in the previous year. The student loan debt is becoming a rising threat to the US economy. It has reached about $870 billion surpassing the credit cards and car loans and these balances are expected to continue rising.
Seniors entrapped in $36 billion debt in college loans
Student loan debt seems to be the next problem that the US people are going to face in this tough economy. No one can escape from this unavoidable debt burden. The cost of education is rising with each passing day and the parents are finding it difficult to pay the college fees of their children. Thus, the problem of student loan debt is increasing. The job market is unable to offer the appropriate job to the youngsters. It is hard to believe that a huge number of senior Americans are still facing student loan debt.
According to the data from the Federal Reserve Bank of New York, it focuses on how student loans are becoming a burden not only for the youngsters but also for the senior citizens of America. The data shows that the Americans aged 60 years and above have $36 billion in student loans that they have to repay. About 5% of $85 billion delinquent student loans in the U.S. is owed by the seniors of 60 and another 12% is owed by the Americans aged 50 to 59.
Student loan debt outperforms credit card debt
For the first time, student loan debt has crossed credit card debt and is possibly to top a trillion dollars this year as the number of students going to college is increasing and many of them borrow money from credit cards or take out an educational loan to pay their college tuition fees. As per many economists, student debt should be considered more favorable since the rising loan bills mean that many graduates will require long time period to pay off their student loan debt. According to Mark Kantrowitz, many people will be repaying their student loans in the coming years when their children will go to colleges.
In the year 2008, two-thirds of the graduates had passed out with debt, compared with less than half in the year 1993. The graduates who had taken out loans in the previous year passed out college with an average of $24,000 debt. Thus, the rates of graduate defaulters are increasing particularly among the ones who have completed their bachelor’s degree from profitable colleges.
Few ideas to manage student loan debt
Have a look at some of the ideas to manage student loan debt.
- Look for scholarships and grants – A lot of financial help do not need repayment and some of these aids remain unclaimed every year. The students need to fill out the application form for Federal Student Aid free of cost they enroll themselves even though they do not imagine to qualify for it. This will let the financial aid office of the college know if the students have any interest in any of the opportunities offered by them.
- Select a college according to price – The students take into consideration several factors when they choose a college. It would be best to take admission in a college that has low tuition fees than one with a reputable name according to their financial capability.
- Choose loan forgiveness – If you’ve taken out Federal loans like Stafford loans and Perkins loan, you can qualify for student loan forgiveness options. However, you need to demonstrate undue financial hardship that is barring you from making the monthly student loan payments on time in order to qualify for the student loan forgiveness programs.
- Pay off your student loans soon – The students should keep aside as much money as they can from their income after meeting the daily expenses. The students should also make it a point to pay off the student loans soon so as to come out from such problems.
According to the studies, student loan debt has topped $25,000 on an average which has increased to 25 percent in 10 years. The Americans obtain a degree so that they can get a suitable job and pay off their student loan with the help of it. But due to economic recession, they are unable to get a suitable job and so, the problem of unemployment seems to exist. Thus, paying off the rising student loans have become a heavy burden for the Americans.
(Source: economiccollapse.net)
(CNSNews.com)- In the 39 months since Barack Obama took the oath of office as president of the United States, the federal government’s debt has increased by $5,027,761,476,484.56.
Although he has served less than a term, Obama is now the first American president to see the federal government’s debt increase by more than $5 trillion during his time
