Re: Grandson's request for advice   
How about a personal finance book, finance is not just about buying stocks. For someone younger I'd suggest- I Will Teach You To Be Rich by Ramit Sethi
It sounds like a scam but its not, its written for millennials in mind even though its been out for a few years, it's still relevant and easy to read. Talks about budgeting, saving, investing, paying off debt ect. May be worth a read especially for someone who doesn't grasp finance, it lays out a 6 week plan to get you on the right path.
          Re: "How Do Your Financial Priorities Stack Up With Our Pyramid?"   
When I started out, my goals were to build up my savings, start saving for retirement, and pay off my modest student loan debt. My first priority was to save and once I had savings, I started looking for better investment vehicles. Early on, I started with a workplace savings plan too. The odd thing was that I was pretty conservative in the beginning and my IRA was in FDIC Insured Certificates of Deposit until a friend went into the brokerage business. The IRA went to him but even then I bought another CD and three zero coupon treasuries paying 8% along with the first stock I ever bought, which was AST Research.

Can't say that I thought a lot about asset allocation though I always loved having money in the bank. The more, the better. It seemed that life was unpredictable and going through unexpected challenges went better if you had good cash reserves.

The way I think of the Pyramid is probably the way college students think of the 4 food groups: Pizza, Beer, Top Ramen, and Nachos. When you start out, you just sort of go with what makes sense at the time. It isn't like I had all my life goals planned out when I graduated from college. It just seemed that doors would open up at the right time.
          Re: Stress Testing Plans: How much stress?   
Prior 2008, None.
After 2008, 40-50% and a prolonged recovery. Hence our diversification away from direct holdings in equity & debt markets.
          Re: How do you Limit Risk if You Shouldn't Own Bonds in a Taxable Account?   
Does Limit=Control=Manage=offset Risk :confused

Biased comment since we are retired and FundedRatio (FR)>1.1 See notes below.
Our taxable account (Discretionary) has been both extremes (twice) in the past 2 years: cash to being fully invested.
If I want to be careful, I am into cash.
If I want to be moderate, I am into my local utility (non-diversified)
If I want to be aggressive, I am into local high alpha-low beta stocks and CEF
I am aware of taxes.
Only 25% of our retirement assets (Discretionary Bucket) are directly exposed to the Equity-Debt Markets. Thus I can swing or not swing.
          Re: would you take a new mortgage to invest in stock market?   
Absolutely not.

We paid off the house early and limited debt. Paying off the house allowed us to use the cash flow to limit the amount of student loan debt for the kids.

In my mind, you can't beat free cash flow and reduced risk.

When I listen to the other arguments, I go back and think that when Warren Buffett when he moved back to Omaha, paid cash for his house, even though he was pretty sure he could make a bigger return in the market. If one of the greatest investors in history, always talks about risk, maybe the rest of us should listen.

Good luck.
          How Much Does It Cost To Buy A Great White Shark   
In the Arab world, Islam and Western democracy means dictatorship

by Abdenur Prado - posted Friday, February 11, 2011
Source: UMMA . COM

The West finances dictators in the Middle East and the Arab world for over a century.
pro-democracy demonstrations against dictatorships supported by the West in the Arab world, shows once again the immense hypocrisy of our leaders. Which side Western governments are, with the demonstrators or the dictators? The answer is simple: the side of those who generate millions for the benefit of Western multinational corporations.

But that does not surprise anyone. It is well known that the West has funded more than a century of dictatorships in the Middle East and the Arab world because it is through the autocracies that [the West] were able to control the resources of this region. Even if this leads to the exploitation and misery of people facing decommissioning, orchestrated by the International Monetary Fund, their social services in order to repay foreign debt generated by the millions in arms purchases in the West ... As the aspirations of civil society, increasing poverty, torture and repression, lack of civil liberties and human rights ... No Western leader does not care at all. And all have shown, continuously, without exception, for over a century. Remarks made recently by Henry Kissinger are revealing in this regard: "We've had five presidents who have considered Hosni Mubarak as the best ally of the U.S. objectives in the region. "

Just out of the archives all the statements of Western leaders who praise the Arab tyrants: their economic policies, their continued political stability, their contributions to international security, that they safeguard secularism and prevent the advance of Islamist movements ... In short, for submission to the dictates of Western financial markets and the International Monetary Fund.

This overview does only one variable: whether or not the connivance with the State of Israel. This underscores the critical role of Israel vis-à-vis the maintenance of dictatorships in the Arab world, a fact corroborated by the comments made by Netanyahu in support of Ben Ali and Mubarak as well as decades of collusion with the family Royal Saudi monarchy and other issues of colonialism. No surprise then to learn that Israeli diplomacy has done everything possible to save Mubarak. It is true that Israel has cause for concern, not only for the danger posed by the rise of political Islam, but also because the democratic governments that might arise would maintain not only their country's complicity in the genocide of the Palestinian people. The open border between Gaza and Sinai is crucial for the survival of the Palestinian people. This is a convincing argument in favor of democracy in Egypt and the Middle East! And
"Islamism" in all this? It serves as a bogeyman to justify the support of dictatorships "secularists." However, it obscures the fact that the majority of parties "Islamists" in the Arab world accepted the idea of parliamentary democracy.
An example of this paradigm is that the Muslim Brotherhood in Egypt. In 1944 the founder, Hassan al-Banna, supported the participation in parliamentary elections, saying that the Egyptian constitution was "Islamic" because it recognized that the authority resides in the people, ensured the decision-making through consultation (Shura) and respect for individual freedoms. In some of his writings, he defends parliamentary democracy: "The bases of political organization based on the system of parliamentary representation does not contradict the fundamental principles that Islam has set in organization of power. "Since its founding, the Muslim Brotherhood have repeatedly stated that their intention is not to take power, but to educate society and to influence the system for Islamic ideals in justice being implemented. Despite this, they are portrayed as villains by the media manipulation and by Western governments. (I'm not a fan of the Muslim Brotherhood, but I am against their demonization. For their positions, see their website in English).

There is talk now of returning to Tunisia Rachid al-Ghannouchi, founder and historic leader of the party-Nahda in Tunisia, after 22 years of exile. According Ghannouchi, Islam provides a more fertile than that of the West to carry out democracy. There is a book of Azam Tamimi, where he studied his thought in detail, Rachid Ghannouchi: A Democrat within Islam, published by Oxford University Press. Among his ideals: "an Islamic system based on the will of the majority, free elections, free press, minority protection, equality between laity and religious parties, and achieving complete women's rights in all areas, participation in elections to the freedom to dress as they wish, the right to divorce, and even the right to be head of state. The role of Islam is to provide an ethical system. "

An ethical system that necessarily involves the abolition of usury Financial, which provides a minimum of social services for the entire population and the establishment mechanisms that prevent the accumulation of capital in the hands of a few individuals. An equally valid for Spain than for Egypt.

In Brief: Islamist movements are champions of democracy against tyranny corrupt funded by the West. It is curious to see how the terms were reversed at the point of passing the opposition, which demands democracy, for ... absolutists, and dictators that suppress civil liberties as saviors. The world upside down? The world seen through a mass media manipulation. That is to say, from a perspective of the interests of major Western financial corporations.

Translation: Amy Fetchman

          Avery Table Tents 5305   
Mohamed Hassan: "the causes of the revolution far beyond Tunisia Ben Ali and his party. "

Tunisians brought down the dictator Ben Ali. Today, they continue to fight against his men to head the transitional government. In this new chapter of our series "Understanding the Muslim world," Mohamed Hassan * ((photo-cons) explains the implications of the revolution of Tunisia and its root causes: how nationalism Liberal advocated by Tunisia under Bourguiba interests Western, plunging people into poverty, how a repressive state has put in place to maintain this system, why dictatorships in the Arab world are caused to fall, and how Islam became the condom imperialism

(Gregory Lalieu Michel Collon)

In December 2010, riots broke out in Tunisia. A month later, President Ben Ali fled the country after twenty-three year reign. What are the causes of this revolution? And why is it popular movement succeeded in bringing down the dictator where other attempts have failed?

For there to be a revolution, it is necessary that people refuse to live as before and that the ruling class is no longer able to govern as before. On December 17, 2010, Mohamed Bouazizi, a young seller of fruits and vegetables, has sacrificed out of desperation after police had confiscated his goods himself, and that local authorities have to stop working. The conditions were ripe for a revolution broke out in Tunisia Bouazizi and suicide was the trigger.

Indeed, the Tunisians did not want to live as before: they were not accepting corruption, police repression, lack of freedom, unemployment, etc.. Moreover, the ruling class could no longer govern as before. Corruption under Ben Ali had taken a phenomenal amount while the majority of the population had to face insecurity. To maintain this status, police repression would be higher but it had reached its limits. The ruling elite was completely disconnected from the people for whom there was no interlocutor. Therefore, when popular revolts broke out, the ruling class had no choice but to quell the violence. But with the determination of the people, the repression reached its limit. This is one of the keys to the success of the popular revolution of Tunisia: it managed to reach all segments of society, including members of the army and police who sympathized with the demonstrators. The repressive apparatus could no longer function as before either. If a revolt occurs but is not able to combine different segments society, it can not lead a revolution.

Even after the departure of Ben Ali, the protests continue. The situation that Tunisians refuse is not the result of one man? For

signs "Ben Ali emerges" signs were followed by "CDR releases. Tunisians are attacking the president's political party because they fear that one of his men to take power. But in reality, the root causes that led to revolt Tunisians far outweigh Ben Ali and the RCD. It is not enough to turn the president for the people earns his freedom and improves living conditions.

corruption, unemployment, social inequality ... What are the effects of imperialist domination of the West over Tunisia. For Tunisia, after independence, became a project of the United States.

What do you mean by imperialism?

Imperialism is the process by which capitalist powers politically and economically dominated by foreign countries. Western multinationals plunder the resources of Africa, Latin America and Asia. They find opportunities for capital they will accumulate and exploit cheap labor market. I say that multinationals are not buying as they plunder the resources at their fair value and the local people not benefiting from these riches. And this looting would not be possible if these countries operated, there were no leaders to defend the interests of multinationals. These leaders are getting richer in the process. They constitute the so-called comprador bourgeoisie. They have no political vision for their own country does not produce wealth and do not develop a real economy. But personally enriched by trading resources their countries with multinationals. Obviously, the people are the biggest victim in all this!

When you're a nationalist anti-imperialist cons, you are looking to develop for yourself. You nationalize key sectors of your economy, rather than leaving the management to foreign companies. This will create a national economy in the country and you allow it to grow on the basis of independence. That's what I call a national democratic revolution: national independent because of the imperialist powers, democratic as against feudalism and the elements reactionaries in the country.

However, Bourguiba, Tunisia's first president, was considered a socialist. And during his reign, the state played a very important role in the economy.

Bourguiba's political party was socialist in name only. If the state played an important role, it was only for the benefit of an elite only. This is called state capitalism. In addition, Bourguiba has systematically eliminated all the progressive elements and anti-imperialist in his party. So that this party became the party of one man, completely subject to U.S. imperialism.

Habib Bourguiba , great actor in the struggle for independence, was president of Tunisia from 1957 to 1987

What Was Tunisia important for the United States?

To understand the importance of that country to the U.S. strategy, we must analyze the political context of the Arab world in years 50 and 60. In 1952, officers overthrew the monarchy of King Farouk of Egypt and proclaim a republic. With Nasser at the helm Egypt becomes the basis of Arab nationalism inspired with revolutionary ideas of socialism. As evidenced by the nationalization of the Suez Canal, Nasser's arrival in power is a blow to the West because the Egyptian president's policy is totally at odds with the hegemonic Western powers in the Near and Middle East. Worse still: the anti-imperialist ideas of Nasser are emulated in the region. In Yemen for example, where in 1962 a revolution divided the country, the South becoming a bastion of Arab revolutionary movement. The same year, the independence of Algeria sends a strong signal to Africa and the Third World, the imperialist powers put on alert. Libya also note the Qaddafi coup in 1969. The colonel took power and nationalized major sectors of the economy, to the chagrin of the West. The same year, the Islamic revolution in Iran toppled the Shah, one of the most important pillars of U.S. strategy in the Middle East.

short, at that time, an anti-imperialist movement defies strong strategic interests of the United States in the Arab world. Fortunately for Washington, all countries in the region do not follow the path of Nasser. It the case of Tunisia. In 1957, a year after the independence of Tunisia, Bourguiba was one of the first Arab leaders to send U.S. in the prestigious journal, Foreign Affairs. The title of the article? Nationalism best antidote to communism. For the United States who want to counter the influence of Nasser is a godsend! Bourguiba wrote in his article: "With the regard, Tunisia has chosen to make unequivocal its way into the free world from the West." We are in the Cold War. The Soviets argued that Nasser's influence grows in the region. And the U.S. needs pro-imperialist agents Bourguiba as not to lose strategic control of the Arab world.

Nasser announced the nationalization of the Suez Canal in 1956

Can we be both nationalist and pro-imperialist?

Bourguiba was a liberal nationalist with anti-communist ideas which led him to join the imperialist camp in the West. In fact, I feel like George Padmore Bourguiba Arabic. Padmore was a leading Pan-Caribbean origin. In 1956 he wrote a book called Pan-Africanism or Communism: The battle ahead in Africa. Like Bourguiba, he fed anti-communist ideas and even if he declared himself a nationalist, his political vision was largely subservient to the interests of imperialist powers. Nationalism served as a cover, their policy is far from being independent. Padmore had a great influence on the first president of Ghana, Kwame Nkrumah, one of the instigators of the African Union. Its pro-imperialist ideas were able to spread across the continent with the result that we see today is celebrated around the golden jubilee of independence in Africa, but many Africans know they have never become independent. President Nkrumah himself later regretted having taken the advice of Padmore.

In Tunisia too, the submission to imperialist interests has quickly been felt and it turned out that nationalism advocated by Bourguiba was a facade. In the 70s, for example, the President has passed a series of measures intended to attract foreign investors: tax exemption on company profits for ten years, exemption from all duties and taxes for twenty years, exemption from Tax Income property values, etc.. Tunisia has become a vast workshop of Western multinationals in recent repatriation of profits.

Tunisia did she not still been some good progress under Bourguiba?

Yes, there have been positive developments: education, status of women, etc.. First, because Tunisia were the progressives in his elite players, but they were quickly dismissed. Then, because Tunisia was to be dressed in his finest dress. Indeed, this country played a major role in the strategy of the United States to counter the influence of communism in the Arab world. But what had you on the other side? Progressive revolutionary movements that had toppled backward and monarchies who enjoyed popular support. You could not counteract this movement by advocating a feudal system. Saudi Arabia has done so because it could use its oil money for that. But Tunisia, unable to rely on such resources, should provide some progressive image. In the fight against communism, it was supposed to represent a successful Third World countries have chosen the path of liberal nationalism.

But behind the scenes was less flattering. As I said, Bourguiba has systematically eliminated the progressive elements that do not follow his steps. The anti-imperialists who wanted an independent Tunisia both economically and politically, those who wanted to assert their own position in the Third World and the Israeli-Palestinian conflict, all were opposed. Tunisia has in fact been used as a laboratory of the imperialist powers. And what was supposed to represent the success of liberal nationalism has become a dictatorship.

When Ben Ali Bourguiba succeeded in 1987, he continues on the same track?

Absolutely. One can even say that the submission to Western interests has grown. Ben Ali was a pure agent of U.S. imperialism. In 1980, as ambassador to Poland, he even served as a liaison between the CIA and Lech Walesa, the union leader who fought against the Soviet Union.

In 1987, when Ben Ali assumed the presidency of Tunisia, the country was deeply in debt by the capitalist crisis of 1973. Moreover, at that time, the ideas of Milton Friedman and his Chicago Boys were very popular. These ultra-liberal economists believed that the market is an entity capable of regulating themselves and that the state should certainly not interfere in the economy. The technical elite Tunisian largely from U.S. schools were highly influenced by theories of Friedman. Ben Ali then left the state capitalism in effect at the beginning of the era Bourguiba. Under the supervision of the IMF and World Bank, he began a privatization program much more massive than what his predecessor had already begun in the 70s.

What were the effects of this new economic policy?

First, privatization of the Tunisian economy has allowed Ben Ali and his wife's family, Trabelsi, personal enrichment. Corruption has reached a very high level, Tunisia has become a country totally subservient to imperialism, headed by a comprador bourgeoisie. Obviously, Ben Ali and his clan did not have many raw materials to selling out to Western multinationals. But they took advantage of the education system established under Bourguiba to develop a service economy. Indeed, the Tunisian workforce is highly educated and inexpensive at a time. It therefore attracts foreign investors.

Tourism has also developed strong as to become the mainstay of the Tunisian economy. Here we see the lack of political vision of the elite. Indeed, no country can develop its economy based on tourism if not first developed a national economic base. The tourism industry consumes a lot but reported very little to the Tunisian people. Imagine: while Western tourists consume hectoliters of water to bask in pools, Jacuzzis or golf course, the poor peasants in the south face of the drying soil.

But it's not just the farmers who have suffered from this policy. Overall, the social conditions of the Tunisian people deteriorated while the president's entourage has amassed a huge fortune. Everyone knew the regime was corrupt. So to maintain this system, the system should prevent any disputes. The repression became even more brutal penny Ben Ali simple criticism or even the desire for modernity and openness were not allowed. Such a situation could lead to popular revolt. Moreover, trying to monopolize his clan the wealth of the country, Ben Ali has also drew the ire of some of the traditional bourgeois Tunisia.

You say that political repression was very strong. Is there anyway today, opposition forces can guide the people's revolution now that Ben Ali has fallen?

Genuine opposition parties were banned under Ben Ali. However, some continued to exist underground. For example, the first Tunisian Communist Party could not live openly and organize like any political party in a democracy. But he continued to operate secretly through associations of civil society (teachers, farmers, doctors, prisoners ...). The PGWPP was able to form a social base and fired a solid experience of this period. It is exceptional in the Arab world.

I think two major challenges now await the opposition parties. First, they must come forward and make themselves known to the general public in Tunisia. Then they must organize a united front of resistance to imperialism. In fact, the imperialist powers seek to maintain the system without Ben Ali Ben Ali. We see now with the Union government National rejected the Tunisians, which is very positive. But the imperialist powers will not stop there. They will certainly seek to impose an International Electoral Commission to support candidates who defend to their best interests. It is therefore necessary to resist interference by creating a united front to build a true democracy.

Opposition parties are they able to overcome their differences to create such a front?

I know that some political parties were reluctant to associate Islamo-nationalist movement Ennahda. This movement emerged in the 80s. He advocated an anti-imperialist line and in fact, has suffered political repression. Why not combine Ennahda in front of resistance to the interference of foreign powers? Tunisia is a Muslim country. It is normal that a political force emerges with an Islamo-nationalist trend. You can not prevent that.

But each of these movements must be studied separately, with its own specificities. This was done by the communist PGWPP. They studied scientifically objective conditions that apply Tunisia. Their conclusion is that the Communists and Islamo-nationalists have been victims of political repression and that even though their programs differ, they share common ground: they want an end to dictatorship and the independence of Tunisia. The Communists have proposed an alliance with the Islamo-nationalists long ago. Of course, the PGWPP does not make Tunisia a Islamic state. Its political agenda is different from that of al-Nahda. But it is the Tunisian people who will judge these differences democratically. Elections should be a contest open to everyone. That is true democracy.

Precisely opposition parties gathered in front of 14 January to fight against the interim government of Mohamed Ghannouchi, a henchman of former President Ben Ali. A hopeful sign?

Absolutely, Tunisia is on the right track: all opposition parties banned so far have created a united front to prevent the system is maintained without Ben Ali Ben Ali. Also underline the role played by the base of the union UGTT. The head of the union authorized under Ben Ali was corrupt and working with the state police. But since the basis of the union put pressure on its leaders and members who UGTT were part of the transitional government have resigned. Although much remains to be done, democracy wins Tunisian institutions under pressure from the people.

Western powers opposed to that. They want to impose democracy in Tunisia where only low-intensity "good" candidates would be allowed to stand for election. If you look at the type of democracy that the United States enjoy, you come across Ethiopia. The U.S. government has provided $ 983 million to countries in the Horn of Africa for the year 2010. That same year, Prime Minister Meles Zenawi, in office since 16 years, was reelected with 99.5 percent of the vote! It's even better than Ben Ali! The reality is this: behind their rhetoric in support of the Tunisian people, the Western powers continue to actively support many other Ben Ali in the world.

The United States could not they support other candidates pro-imperialist, but in the eyes of Tunisians, were not associated with the Ben Ali era?

It would be difficult. There is a part of the comprador bourgeoisie which was lésinée by the corrupt system of Ben Ali. But this elite is not strong enough control the popular movement and not enough grounding in the Establishment to win.

The United States had also thought of another strategy: a few months ago, while Ben Ali was still in power, the U.S. ambassador has visited a Communist leader in prison. Officially, a simple observation visit in the framework of respect for human rights. Unofficially, the U.S. anticipated the departure of Ben Ali and wanted to test the waters. Their goal was to get the Communists against the Islamo-nationalists, divide the resistance to imperialism to weaken more. But the Communists Tunisia does not fall into the trap. They are very familiar with the strategy developed by Henry Kissinger in the 80s in the Middle East. They published a very good study on the subject and know they should not take orders from outside or adhere to ideologies manufactured by foreign powers.

Why the U.S. have they abandoned Ben Ali? Had he gone too far in personal enrichment? According to a cable Wikileaks, the U.S. ambassador was very critical of the system of quasi-mafioso Tunisian president, organized corruption are obstacles to investments by foreign companies.

This is not the problem. The United States does not care about corruption. Instead, it is a key element of the system of domination on the U.S. South. In fact, Washington was aware of the internal situation in Tunisia and knew that Ben Ali would not be able to govern. The West must now ensure that the replacement of Ben Ali will continue to defend their interests. The stakes are high. The capitalist crisis is causing serious problems in the West. Besides this, China is getting stronger and now provides more loans than the World Bank and other imperialist powers combined. She even wants to buy a significant portion of the debt of the euro area partly because it has economic interests with European countries, on the other imperialist powers to divide, the EU is historically associated with states USA.

In such a context, the Tunisian people's movement, under the auspices of a revolutionary leadership, could establish an independent government and take advantage of this situation of a multipolar world. The imperialist powers fear that countries that were traditionally under his rule become economically independent, turning also to China. Tunisia could build relationships with the Asian giant to develop its commercial ports. And it would seriously question the concept of the Mediterranean Dialogue, this expansion of NATO to the countries of the Mediterranean that is not a dialogue but a mere instrument of Western domination.

Another country that seems to fear democracy in Tunisia and in the region, Israel. Deputy Prime Minister Silvan Shalom said shortly after the fall of Ben Ali that the development of democracy in Arab countries threaten Israel's security. This country often called only democracy in the Middle East, would he be afraid of competition?

Under a democratic facade, Israel is a fascist, apartheid state. In the region, it can not ally with repressive dictatorial states, led by comprador bourgeoisie that weaken the body of the Arab nation. Currently, these Arab states are rich countries inhabited by poor people. But if a democratic government in the full sense of the term emerges, it will increase economically the Arab nation as a whole. And this economic development will lead to an alliance of Arab countries against the state racist oppressing the Palestinians. Israel fears this course.

Moreover, there is a very big gap between the official positions of Arab dictatorships and the popular sentiment about the Israeli-Palestinian conflict. Since Egyptian President Sadat visited Israel in 1977, Egypt's position is "we want peace." But it is a position imposed by force to the population. And the current Egyptian government is not content to maintain peaceful relations with Tel Aviv. It participates actively in the strangulation of Gaza, while the majority of Egyptians in solidarity with Palestinians.

It's the same alignment of Arab dictatorships on Washington politics. Tunisia, Saudi Arabia and Egypt are allies of the United States while the populations of these countries are anti-imperialists. I was in Egypt when Muntadhar al-Zaidi, a journalist in Iraq, threw his shoes on George W. Bush. The Egyptian population was celebrated as a hero. I heard of fathers wanting to marry their daughter with the reporter. Still, Egyptian President Hosni Mubarak is one of the most faithful allies of Washington.

Do you think the revolution Tunisia a domino effect could cause the downfall of other dictatorships in the Arab world?

70% of the population in Arab countries is less than thirty years and knows that unemployment, police repression and corruption. But all these young people want to live. And to live, they need change. This is the reality of each country. It is therefore not even need a domino effect, the objective conditions are ripe for further revolutions erupt.

People no longer want to live as before. But for their part, the ruling classes are they unable to govern as before?

course. And we see in Egypt today. There are police everywhere in this country. But it is impossible to control everything. A state police has its limitations and the Arab world have reached.

Furthermore, information plays a very important role today. Tunisians, Egyptians and peoples of the Third World are better informed through Al-Jazeera as part of an Internet and social networks on the other. The evolution of information technology has increased the level of education and consciousness of people. The people no longer a mass of illiterate peasants. You have a lot of very smart young people, with a certain practical sense, able to circumvent censorship and of mobilizing the Internet.

there in these countries the opposition forces can guide the popular revolutions?

Why Punishment is so important if these dictators were not in danger? Why the comprador bourgeoisie, so greedy, she would spend so much money in the repressive apparatus if she was not afraid to be reversed? If there was no opposition, all this would not be necessary.

the side of Western observers, many fear that the collapse of these regimes Arab favors the rise of Islamism. As summarized so finely Christophe Barbier, editor of L'Express, "Ben Ali is better than the bearded." These fears proved on of Islamism are they based?

Islamism became the condom of imperialism. Western powers justify their strategy of domination in the Arab-Muslim world under the guise of fighting against Islam. There are Islamists everywhere today. Soon, we shall find even traces of Al-Qaeda on Mars if it is useful to the imperialists!

In reality, the West has always needed to invent an enemy to justify its hegemonic designs and incredible military spending (financed by taxpayers). After the fall of the Soviet Union and the demise of the communist enemy is Islam and Al Qaeda who have played the roles of villains villains.

But the West has no problem with Islamism. It adapts very well to this trend in countries like Saudi Arabia. Moreover, he himself fostered the rise of Islamist movements to counter the Arab nationalism at a time. The real problem for the West is anti-imperialism. That's why he tries to discredit any popular movement in the Arab world who is opposed to its interests by affixing the label "Islamist."

Finally, it should not be very smart to think that the Arab dictatorships are bulwarks against the rise of religious fanaticism. Instead, these repressive regimes have led some of the population to be radicalized. Who could afford to say that such and such people have no right to democracy? In a truly democratic country, different political forces may emerge. But the bourgeoisie comprador ruling in the Arab dictatorships can not convince people. She can not even face to face. To defend the imperialist interests, you must prevent other political forces to emerge because they are likely to convince the people against a corrupt elite. The West has always sought to maintain dictatorships that served its interests by waving the specter of Islamism. But the Arab peoples need democracy. They claim it today and nobody can not go against these claims.

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          Pops and O.P. - "You Go To My Head"   
© -Steven Cerra, copyright protected; all rights reserved.

“Louis Armstrong  was the father of “vernacular music,” which was made possible by the microphone.  Anyone with any kind of contemporary rhythmic concept —be they singer, instrumentalist, or composer-arranger— owes a debt to Armstrong.  By the way, my favorite Armstrong performance, both playing and singing, is his 1957 recording of “You Go To My Head” with Oscar Peterson. If you want to understand where Miles Davis came from, and why Armstrong is still relevant today, listen to this.  I often play it for students, and many of them find it a life-changing record.”
- Bill Kirchner, Jazz musician

Returning to the subject of favorite recordings, Louis Armstrong Meets Oscar Peterson [825 713-2] has been included in that group since Verve released it in 1957.

Louis’ meeting with Oscar Peterson's trio, is as Richard Cook and Brian Morton in The Penguin Guide to Jazz on CD, 6th Ed “perhaps a mixed success, but nevertheless an intriguing disc.”

Peterson can't altogether avoid his besetting pushiness, yet he's just as often sotto voce [a quiet or understated voice; literally “under the voice”] in accompaniment, and on the slower tunes especially - Sweet Lorraine and Lets Fall In Love and You Go To My Head.”

But the important point here is that “the chemistry works, and Louis is certainly never intimidated.”

I also agree with them when they assert: “It’s good to hear [Pops] on material more obviously 'modern' than he normally tackled and, although he sometimes gets the feel of a song wrong, he finds a surprising spin tor several of the lyrics.”

But I think, the most important point to be made in its favor is that, thanks again to the intercession of impresario Norman Granz in, that the album exists!

How many times have you heard friends’ remarks about Wish List recordings - “Gee, I wonder what it would have sounded like to have so-and-so performing with such-and-such - while knowing that the reality is that’s never going to happen because those artists are no longer with us?

I’ve often longed for a Louis Armstrong-Art Tatum recording, but that never happened, either. Thankfully, this one did, especially since Oscar Peterson gets a close to Tatum as anyone ever did.

Put another way, although a modern stylist and very much his own man, Peterson’s homage to Tatum is very much apparent in his playing and is what I think that Cook-Morton are referring to when they mention Oscar’s “besettling pushiness.” But that’s not the way I hear it. What’s on display here is a great accompanist offering his talents to a great soloist, one very much deserving of his respect.

More about the special nature of Louis Armstrong Meets Oscar Peterson [Verve 825 713-2] is revealed in Leonard Feather's liner notes from the original LP release of this material:

"When I was a kid," Louis Armstrong says, "I used to go singing around in churches or choirs or on street corners. You'd get four hustlers on a corner who could make a sharp quartet. 1 was about seven years old when I started singing. We'd pass the hat and sometimes we'd make as much as $1.50 a night. That was like $150 a night now"

This recollection places Satchmo's vocal career ahead of his horn-blowing life by several years and means that he has been singing, for pleasure and money, over half a century. Since today his popularity with the general public can be credited even more to his singing than to the trumpet that originally made him a globally known figure, and since the present album is basically a set of vocal performances, it is interesting to note that this thorny, rock-bottomed approach to the use of the human voice predated (and in a sense predicted) similar melodic and rhythmic nuances on the cornet and trumpet.

As George Avakian pointed out in The Jazz Makers (Grove Press), Louis "developed a whole school of jazz singing, based on a literal interpretation of the folk and blues singers' approach to the voice as an instrument. Louis showed that the emotional meaning of o lyric can be expressed through vocal inflections and improvisations of a purely instrumental quality just as effectively — more so, in fact — as through words. This line of development paralleled the growth of his instrumental influence. It still embraces every jazz and popular singer today"

All this can be applied at full strength to the dozen interpretations on these sides of material that generally falls in the popular song category. What Louis may lack in clear understanding of the lyrics' meaning in occasional lines is more than compensated by his overall feeling for the mood of both lyrics and melody. And there are, of course, additional virtues in the presence of his companions. The Oscar Peterson Trio Plus One (Louis Bellson again rounds out the rhythm section as he did on previous albums in which Oscar's trio played for Louis, Ella Fitzgerald and others) is perhaps the most perfectly integrated rhythmic unit of its kind in contemporary jazz.

Peterson's background is about as different from Louis' as Admiral Byrd's from Dr. Livingstone's; yet it is this very contrast, and the eclectic quality in his work, that makes him the ideal accompanist, for any singer or instrumentalist of any jazz school. What Louis learned on the streets and in the Waifs' Home in New Orleans has its best possible complement in what Oscar learned during rigorous classical studies north of the border. Neither had to bend a millimeter in musical concession to the other; the blend of spontaneous musicianship and academic knowledge was natural and immediate.

All the songs in this are from 15 to 30 years old; all have been used extensively by jazzmen, though in several instances Louis had never before recorded them. ...

You Go To My Head is, unless memory fails, Louis' first recorded performance of a number he could and should have introduced as soon as it was published, over 20 years ago. Perhaps in an effort to compensate for keeping us waiting so long, he plays an entire chorus and sings another. Not since Billie Holiday has there been a comparable sympathetic treatment….

Hearing Louis in the un-frilled, ungimmicked setting of the Oscar Peterson rhythm section will be a treat for those who have often seen him in person and wished for fewer encumbrances. Basically Louis needs nobody but Louis — he could stand all alone in the middle of the Sahara, singing selected excerpts from the Tunis telephone directory, and we suspect he could make it for a week without food and water. But if there must be someone else, let it be the man whose team made this
session such a happy occasion for all concerned. The meeting of Armstrong and Peterson marked one of the most catalytic moments since the day when Peterson met Norman Granz.”

Of You Go To My Head, Ted Gioia has written in The Jazz Standards: A Guide to the Repertoire [Oxford]

You Go to My Head
Composed by J. Fred Coots, with lyrics by Haven Gillespie

“In 1934, this same songwriting duo collaborated on "Santa Claus Is Coming to Town," which endeared itself to Mom and Dad by getting countless youngsters to move from the naughty to nice cohort group. Four years later, some of those nice kids had grown up, but I'm confident few parents encouraged their headstrong teens to follow the lead of the new Gillespie-Coots hit "You Go to My Head." This song was a paean to romantic infatuation, packed with similes relating love to booze; in the course of a few bars — musical ones, that is, not those called "Dew Drop Inn" — we get references to champagne, burgundy, and a kicker of julep. Indeed, this song comes closer than any tune I know to capturing in musical form the feeling of losing control.

If the words were a bit too sophisticated for the kids, so was the music. "You Go to My Head" is an intricately constructed affair with plenty of harmonic movement. The song starts in a major key, but from the second bar onward, Mr. Coots seems intent on creating a feverish dream quality tending more to the minor mode. The release builds on the drama, and the final restatement holds some surprises as well. The piece would be noteworthy even if it lacked such an exquisite coda, but those last eight bars convey a sense of resigned closure to the song that fittingly matches the resolution of the lyrics.

Four artists had hit records with this song during the summer 051938. Larry Clinton's version was the biggest success, reaching as high as #3, but Teddy Wilson, Billie Holiday, and Glen Gray's Casa Loma Orchestra each enjoyed placement in the top 20 with their releases. The song fell out of circulation during the early 19403, but was widely covered during the second half of the decade, with artists from a range of stylistic camps — including Dizzy Gillespie, Gene Krupa, Lena Home, Coleman Hawkins, Dave Brubeck, Artie Shaw, and Lennie Tristano — bringing their individual talents to bear on it.

Vocalists tend to take this song at a "deep ballad" tempo, sometimes so extremely slow that they test the competence of the rhythm section to maintain a sense of swing while moving along at less than 40 beats per minute. Check out the recordings by Betty Carter and Shirley Horn for examples of how this can work when the instrumentalists on hand match the skill of the singer. In contrast, Bill Evans — whom one might expect to linger over the chart — delivers a simmering hard bop treatment on his 1962 Interplay album, helped along by Jim Hall and Freddie Hubbard.

Dave Brubeck and Paul Desmond take a different approach in their 1952 duet performance from Storyville, mixing romanticism and cerebral deconstruction in equal doses. Desmond had such fondness for this recording that when he and Brubeck reunited for a duet project in 1975, he wanted to showcase "You Go to My Head" again, and the song served as the emotional centerpiece of the resulting album. Both versions are worth hearing, but the earlier track is especially revealing of the simpatico relationship between these two artists, and is my favorite performance from their work for the Fantasy label.”

Here’s a video of Pops and OP performing You Go to My Head.

          Free Trade, War and Debt: All Branches of the Same Tree   
Free trade, debt and war are all part of the same package, each feeding off the other. They are – each of them – rackets in their own right and they are all symptoms of the same problem. That problem has to do with the fact that our government  – along with the rest of […]
          Banks Come Under Fire For Filling In The Payday Loan Gap   
A payday loan is a costly form of credit operating on the fringes of the economy. That's why the target of a new crackdown by federal regulators may surprise you: Instead of a forlorn-looking storefront with a garish neon sign, it's your familiar neighborhood bank. A small but growing number of banks, including some major players, have been offering the equivalent of payday loans, calling them "deposit advances." That is, at least, until bank regulators stepped in Nov. 21 and put new restrictions on the loans. "Many of these loans are taken on a nearly continuous basis," Consumer Financial Protection Bureau representative David Silberman told a Senate panel in July. He and other regulators worry that deposit advances can lead consumers into a cycle of debt. "For far too many consumers, payday and deposit advance loans are traps," Silberman said. "Returning every two weeks to re-borrow the same dollar amounts at a high cost becomes a drag on the financial well-being of consumers already
          Does Auckland have the infrastructure capacity to host the America's cup? Alex Tarrant reviews two of the Mexican stand-offs involving central government, the Auckland Council, the Airport and Watercare   

By Alex Tarrant

Emirates Team New Zealand’s America’s Cup win has certainly fired up the Auckland infrastructure debate (as if it needed more fuel). Every interested party is now reviewing their wish list trying to figure out whether their pet project could be completed in four years. Rail, roads, houses and water pipes.

The 2021 event (Auckland will also hold the Asia Pacific Economic Cooperation summit that year) might be a Godsend for getting even more Auckland infrastructure work on the move (if we can find the labourers needed – don’t mention foreigners!).

But the multiple Mexican stand-offs between the Government, Auckland Council and other parties like Auckland Airport and Watercare need to be resolved. The key in each dispute is who pays for what, when, why and how.

This (rather long) column focuses on two of those stand-offs. Rail to Auckland Airport from the CBD, and cheaper, faster provision of water services for new housing in Auckland – including boosting incentives for cheaper densification. On Rail, there is a simple answer to get things moving if the project would indeed lead to benefits. On water, revised legislation debated in Parliament last week provides some hope.

Rail to the airport

Politicians were quick to jump on the success of ETNZ earlier this week and the expected economic benefits to Auckland from holding the Cup in 2021. The Green Party used the occasion to question the Transport Minister on whether Auckland would have capacity to host the event.

“Will the government start building rail to the airport sooner, if Auckland hosts the next America’s Cup regatta, or will Aucklanders still have to wait 30 years?” Julie Anne Genter asked Simon Bridges.

Bridges’ answers focussed on the current plan of protecting a sole purpose route that will originally be marked out for a busway to the Airport. This showed the government was prioritising the project, he claimed, being careful to add it was difficult to explain what the timeframe could be for progressing to rail. This would be driven by demand and usage numbers, Bridges said.

So why not just kick-start the project of rail to the airport? If central government were to lead on funding, couldn’t others like the Council be given time to come up with their share? The reason this National-led government isn’t making any firm commitments like this is down to the principle of, whoever benefits should pay.

Steven Joyce, Simon Bridges and other Ministers have in recent months been talking more about the use of value uplift taxes to help fund new projects – rates will be higher in areas that profit from increased transportation links, for example. These could be residential rates paid by homeowners in areas with improved access to the CBD from a new road, which would have boosted the value of their property. They could also be imposed on commercial businesses that benefit from more foot-traffic due to being closer to, say, a new train station.

The government openly admits that a value uplift tax would have been a perfect fit for Auckland’s inner-city rail loop. But, because the loop was announced before Ministers could start spraying the idea around, they feel it would be a bit rude (think a vote-loser) to suddenly turn around and clamp such a tax on business owners close to where the new stations would be, regardless of the economics.

They have to find a project that hasn’t yet started, and which would clearly benefit the areas linked by the project. Penlink has been talked about. I also give you the Airport-City rail link.

However, Bridges and Joyce are engaged in a stand-off with Auckland Airport. ‘If you come to the table, then we will too.’

Auckland Airport would clearly benefit from any rail link with the city. So, Bridges et al are waiting for them to come to the party. If we’re talking light rail – trams – then Dominion Road businesses and residential properties should also benefit in value uplift.

It’s a stand-off though. If the airport argues against paying more because the benefits won’t be that great, then the government can turn around and say, ‘ok well that’s a good argument for not needing to build the new connection’. If the government just starts funding the link itself, then it runs the risk of no-one else coming to the party. They also don't want to be seen starting the project with inclusion of value-uplift taxes that no-one agrees on - that's not the way this government wants to work.

In effect, the sticking point is a matter of principle. It’s a principled Mexican stand-off. Or a prisoners’ dilemma in a low-security prison.

Water pipe dream

The next stand-off is a key component in Auckland’s housing debate. Water pipes. A couple of weeks ago I wrote about how the National Cabinet would love to take a swipe at the monopolistic, not-for-profit Watercare in Auckland. They’re getting nearer to it.

The Local Government Amendment Act 2002 Amendment Bill (No 2) was introduced last year by former Local Government Minister Peseta Sam Lotu-Iiga. And boy was it popular. The Local Government Select Committee heard nearly 200 submissions on the Bill. They’ve now reported back with amendments. The Bill received a second reading last week.

The stand-off between local and central government on water pipes can best be summed up by a conversation between media and Local Government New Zealand a few weeks back. A lot of New Zealand’s water pipe infrastructure was put in in the 1960s, we were told. Those pipes had an expected lifetime of 60 years, so we’re heading towards an exponential renewals curve over the next 15 years for assets worth over $100 billion.

A couple of the journalists (including this correspondent) were a tad miffed by this. Did local councils know there was only a 60-year life span? “Yeah, they did,” was the reply. ““The renewals curve is not a surprise. But it’s here, now.”

So why haven’t councils planned over those 60 years to put replacement funds aside? The problem, we were told, was that in the 1960s a lot of the pipes were paid for by central government. Now, technically only local government is on the hook. “Under our current funding model, it’s rates and debt [to pay for it]. The issue becomes, is that a sustainable position? Our view is it is not.”

That’s why local government is calling on central government to agree to a co-funding model for the replacement of water pipes nationwide that are coming to the end of their working life (even though this was all known about for 60 years).

I asked Local Government New Zealand chairman Lawrence Yule whether they’d had any indications from central government that this could be done. He said central government had always indicated a willingness to look at it “but only once you’ve made sure what you’re doing currently is being done as efficiently as it can be.”

It’s a stand-off. Local government is refusing to consider how to fund replacement pipes until central government agrees to a co-funding model. Central government won’t agree to a co-funding model until local government gets its own house in order and ensures water services operations are as efficient as possible.

The issue got to a point where central government decided to try and take the initiative. This is where the Local Government Local Government Act Amendment Bill (No 2) comes in. Central government clearly believes things aren’t being done as efficiently as possible.

The Bill will allow various councils to band together to create Transport and Water Council Controlled Organisations (CCOs) to provide services across several local authorities. Scale. It will also give greater scope for re-organisation of CCOs. As now-Local Government Minister Anne Tolley put it in Thursday’s second reading, it provides “an opportunity for the sector to show their local strategic leadership, which may require hard decisions about difficult options in order to secure a positive future for their communities.”

Let’s take Watercare. In its submission on the Bill (co-submitted with Auckland Council), it argued that since its first fully operational year in 2011/12, it has reduced the cost of water delivery to Aucklanders compared the rag-tag pricing run previously by individual councils pre-Super City.

That’s true. The $1.30 per thousand litres was below the range of $1.31-$3.50 encompassing Rodney, North Shore, Waitakere, Auckland, Manukau and Franklin. Job well done. Scale worked. But since then, that cost has risen each year to $1.44 per thousand litres in 2016/17. That’s not what central government (or Auckland residents) wanted to see.

A 2015 Cabinet paper introducing the Amendment Bill reveals what some Cabinet Ministers really wanted to do. The Local Government Minister at the time highlighted the potential benefits of requiring Watercare to have to pay a dividend (“distribute surpluses”) to the Council. This could encourage more efficient pricing of water services and allow it better access to finance.

However, due to the prospect of the move not being supported by “the community,” the idea was not included. Indeed, when the Local Government Select Committee reported the Bill back to the House in June, Section 70 was there prohibiting the distribution of surpluses by water services CCOs.

A pity. There is some exciting stuff in there, though. Central government is aiming to be imposing a number of requirements that I’m told are aimed at drastically changing the way Watercare operates.

The Productivity Commission’s 2016 report, Using Land for Housing, helped. Looking at Watercare from a housing supply lens, the Commission raised a number of concerns and recommendations which will partly be tackled by the Bill.

Firstly, Watercare’s Infrastructure Growth Charges (IGCs) do not recover the full costs of growth (new pipes for new housing), the Commission pointed out. Although initially this could produce benefits for new home buyers not paying the full cost for water infrastructure, deficits will need to be recovered from somewhere. Recovery from existing residents will reduce community acceptance of growth, limiting the supply of infrastructure-enabled land, therefore contributing to higher house prices.

Watercare needed to change how it calculates charges to better reflect the underlying economic costs of supply in different locations and for different types of dwelling, the Commission said. This linked in with criticisms of Watercare’s model of charging flat fees.

“To the extent that certain types of development result in lower infrastructure costs than others, a flat charge will result in a cross-subsidy between different types of dwelling. This might result in a situation in which smaller and more affordable dwellings are cross-subsidising larger standalone dwellings.”

The Bill requires Watercare to shift away from the IGC model to a development contribution model. It has until 30 June 2018 at the latest to figure out how to best make the switch.

Meanwhile, the Commission urged Watercare to consider development agreements, which would enable private developers to take responsibility for building trunk infrastructure. It referenced research that developers may be able to provide infrastructure solutions at lower costs than Watercare, particularly due to ‘over specification’ required by Watercare.

“Watercare notes that development agreements have a range of advantages (eg, they provide a mechanism for bringing in private capital into the provision of public infrastructure) and disadvantages (eg, the time required to prepare and finalise the agreements, especially if more than one developer/landowner is involved). The obligation to consider requests from a developer to enter into development agreements and provide the developer with a written response would not compel Watercare and other CCOs to enter agreements where there are good reasons not to. But a requirement to set out in writing why a development agreement may not proceed would provide clarity and transparency about the reasons for the decision.”

The Bill doesn’t appear to go as far as the Commission would have hoped, but it does provide legislation for Watercare to be able to enter into development agreements.

Finally, the Commission appeared horrified that for both Auckland Transport and Watercare, “supply of infrastructure to support growth is not reflected in either organisation’s performance measures.”

“While the primary accountability documents for Watercare and Auckland Transport (the Statements of Intents) are broadly aligned with the Auckland Plan vision, they do not give effect to the specific objective in the Auckland Plan to increase the city’s supply of new dwellings,” it said.

“Auckland Transport and Watercare’s SOIs should be amended to include performance measures relating to the efficient roll-out of new infrastructure to support an increased supply of new dwellings.

“The regulatory and institutional framework around the water sector can be improved. Discipline and transparency around the pricing of water services, and better performance monitoring, would improve the ability of the water sector to support urban growth,” the Commission said.

The Bill includes provision for Council input on CCO statements of intent and for performance monitoring. Each CCO – ie Watercare – must provide its shareholders the opportunity to influence the direction of the organisation, and must provide a basis for the accountability of the directors to their shareholders for the performance of the organisation.

And that performance monitoring? A local authority must undertake regular performance monitoring to evaluate a CCO’s contribution to the achievement of the authority’s objectives for the organisation, the desired results set out in its SOI and the overall aims and outcomes of the local authority.

What’s yet to be seen, however, is whether the changes would have such an effect as to fix the pending funding crisis for water pipe replacement and extension. I would think not. But with this Bill, central and local government will both be able to tap the argument that councils and their organisations have reached, or will soon reach efficiency limits.

And that’s the trigger for central government coming to the funding party.

          Hunter X Hunter Vol 25 Ch 270   
Indebted To
          Hunter X Hunter Vol 04 Ch 028   
The Huge Debt
          Brandon Smith: “Next Phase of Collapse Will Include the End of the Dollar as We Know It”   
Brandon Smith: “Next Phase of Collapse Will Include the End of the Dollar as We Know It”

The Federal Reserve Is A Saboteur – And The “Experts” Are Oblivious
I have written on the subject of the Federal Reserve’s deliberate sabotage of the U.S. economy many times in the past. In fact, I even once referred to the Fed as an “economic suicide bomber.” I still believe the label fits perfectly, and the Fed’s recent actions I think directly confirm my accusations.
Back in 2015, when I predicted that the central bankers would shift gears dramatically into a program of consistent interest rate hikes and that they would begin cutting off stimulus to the U.S. financial sector and more specifically stock markets, almost no one wanted to hear it. The crowd-think at that time was that the Fed would inevitably move to negative interest rates, and that raising rates was simply “impossible.”

Many analysts, even in the liberty movement, quickly adopted this theory without question. Why? Because of a core assumption that is simply false; the assumption that the Federal Reserve’s goal is to maintain the U.S. economy at all costs or at least maintain the illusion that the economy is stable. They assume that the U.S. economy is indispensable to the globalists and that the U.S. dollar is an unassailable tool in their arsenal. Therefore, the Fed would never deliberately undermine the American fiscal structure because without it “they lose their golden goose.”
This is, of course, foolish nonsense.
Since its initial inception from 1913-1916, the Federal Reserve has been responsible for the loss of 98% of the dollar’s buying power. Idiot analysts in the mainstream argue that this statistic is not as bad as it seems because “people have been collecting interest” on their cash while the dollar’s value has been dropping, and this somehow negates or outweighs any losses in purchasing power. These guys are so dumb they don’t even realize the underlying black hole in their own argument.
IF someone put their savings into an account or into treasury bonds and earned interest from the moment the Fed began quickly undermining dollar value way back in 1959, then yes, they MIGHT have offset the loss by collecting interest. However, this argument, insanely, forgets to take into account the many millions of people who were born long after the Fed began its devaluation program. What about the “savers” born in 1980, or 1990? They didn’t have the opportunity to collect interest to offset the losses already created by the Fed. They were born into an economy where saving is inherently more difficult because a person must work much harder to save the same amount of capital that their parents saved, not to mention purchase the same items their parents enjoyed, such as a home or a car.
Over the decades, the Fed has made it nearly impossible for households with one wage earner to support a family. Today, men and women who should be in the prime of their careers and starting families are for the first time in 130 years more likely to be living at home with their parents than any other living arrangement.
People are more likely to be living with their parents now than back during time periods in which young people actually wanted to stay close to their parents to take care of them. That is to say, most young people are stuck at home because they can’t afford to do anything else, not because they necessarily want to be there.
This is almost entirely a symptom of central bank devaluation of the currency and its purchasing potential. The degradation of the American wage earner since the Fed fiat machine began killing the greenback is clear as day.
The Fed is also responsible for almost every single major economic downturn since it was established. As I have noted in the past, Ben Bernanke openly admitted that the Fed was the root cause of the prolonged economic carnage during the Great Depression on Nov. 8, 2002, in a speech given at “A Conference to Honor Milton Friedman … On the Occasion of His 90th Birthday:”
“In short, according to Friedman and Schwartz, because of institutional changes and misguided doctrines, the banking panics of the Great Contraction were much more severe and widespread than would have normally occurred during a downturn.
Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.”
Bernanke is referring in part to the Fed’s program of raising interest rates into an economic downturn, exacerbating the situation in the early 1930’s and making the system highly unstable. He lies and says the Fed “won’t do it again;” they are doing it RIGHT NOW.
The Fed was the core instigator behind the credit and derivatives bubble that led to the crash in 2008, a crash that has caused depression-like conditions in America that we are still to this day dealing with. Through artificially low interest rates and in partnership with sectors of government, poor lending standards were highly incentivised and a massive debt trap was created. Former Fed chairman Alan Greenspan publicly admitted in an interview that the central bank KNEW an irrational bubble had formed, but claims they assumed the negative factors would “wash out.”
Yet again, a Fed chairman admits that they either knew about or caused a major financial crisis. So we are left two possible conclusions — they were too stupid to speak up and intervene, or, they wanted these disasters to occur.
Today, we are faced with two more brewing bubble catastrophes engineered by the Fed: The stock market bubble and the dollar/treasury bond bubble.
The stock market bubble is rather obvious and openly admitted at this point. As the former head of the Federal Reserve Dallas branch, Richard Fisher, admitted in an interview with CNBC, the U.S. central bank in particular has made its business the manipulation of the stock market to the upside since 2009:
“What the Fed did — and I was part of that group — is we front-loaded a tremendous market rally, starting in 2009.
It’s sort of what I call the “reverse Whimpy factor” — give me two hamburgers today for one tomorrow.”
Fisher went on to hint at his very reserved view of the impending danger:
“I was warning my colleagues, Don’t go wobbly if we have a 10 to 20 percent correction at some point… Everybody you talk to… has been warning that these markets are heavily priced.” [In reference to interest rate hikes]
The Fed “front-loaded” the incredible bull market rally through various methods, but one of the key tools was the use of near-zero interest rate overnight loans from the central bank, which corporations around the world have been exploiting since the 2008 crash to fund stock buybacks and pump up the value of stock markets. As noted by Edward Swanson, author of a study from Texas A&M on stock buybacks used to offset poor fundamentals:
“We can’t say for sure what would have happened without the repurchase, but it really looks like the stock would have kept going down because of the decline in fundamentals… these repurchases seem to hold up the stock price.”
In the initial TARP audit, an audit that was limited and never again duplicated, it was revealed that corporations had absorbed trillions in overnight loans from the Fed. It was at this time that stock buybacks became the go-to method to artificially prop up equities values.
The problem is, just like they did at the start of the Great Depression, the central bank is once again raising interest rates into a declining economy. This means that all those no-cost loans used by corporations to buy back their own stocks are now going to have a price tag attached. An interest rate of 1% might not seem like much to someone who borrows $1000, but what about for someone who borrows $1 Trillion? Yes, borrowing at ANY interest rate becomes impossible when you need that much capital to prop up your stock. The loans have to be free, otherwise, there will be no loans.
Thus, we have to ask ourselves another question; is the Fed really ignorant enough to NOT know that raising rates will kill stock markets? They openly admit that they knew what they were doing when they inflated stock markets, so it seems to me that they would know how to deflate stock markets. Therefore, if they deliberately engineered the market rally with low interest rates, it follows that they are deliberately engineering a crash in markets using higher interest rates.
Mainstream economists and investment “experts” appear rather bewildered by the Federal Reserve’s exuberance on rate hikes. Many assumed that Janet Yellen would hint at a pullback from the hike schedule due to the considerable level of negative data on our fiscal structure released over the past six months. Yellen has done the opposite. In fact, Fed officials are now stating that equities and other assets appear to be “overvalued” and that markets have become complacent. This is a major reversal from the central bank’s attitude just two years ago. The fundamental data has always been negative ever since the credit crisis began. So what has really changed?
Well, Donald Trump, the sacrificial scapegoat, is now in the White House, and, central bank stimulus has a shelf life.  They can’t prop up equities for much longer even if they wanted to. The fundamentals will always catch up with the fiat illusion. No nation in history has ever been able to print its way to prosperity or even recovery. The time is now for the Fed to pull the plug and lay blame in the lap of their mortal enemy – conservatives and sovereignty champions. They will ignore all financial reality and continue to hike. This is a guarantee.
In the Liberty Movement the major misconception is that the Fed is attempting to “catch up” to the next crash by raising interest rates so that they will be ready to stimulate again. There is no catching up to this situation. The Fed has no interest in saving stock markets or the economy. Again, the fed has raised rates before into fiscal decline (during the Great Depression), and the result was a prolonged crisis. They know exactly what they are doing.
What does the Fed gain from this sabotage? Total centralization. For example, before the Great Depression there used to be thousands of smaller private and localized banks in America. After the Great Depression most of those banks were either destroyed or absorbed by elite banking conglomerates. Banking in the U.S. immediately became a fully centralized monopoly by the majors. In a decade, they were able to remove all local competition and redundancy, making communities utterly beholden to their credit system.
The 2008 crash allowed the banking elites to introduce vast stimulus measures requiring unaccountable fiat money creation. Rather than saving America from crisis, they have expanded the crisis to the point that it will soon threaten the world reserve status of our currency. The Fed in particular has set the U.S. up not just for a financial depression, but for a full spectrum calamity which will include a considerable devaluation (yet again) of our currency’s value and resulting in extreme price inflation in necessities.
The next phase of this collapse will include the end of the dollar as we know it, making way for a new global currency system that uses the IMF’s SDR basket as a foundation. This plan is openly admitted in the elitist run magazine ‘The Economist’ in an article entitled “Get Ready For A Global Currency By 2018.
It is important to understand what the Fed actually is — the Fed is a weapon. It is a weapon used by globalists to destroy the American system at a given point in time in order to clear the way for a new single world economy controlled by a single managerial entity (most likely the IMF or BIS). This is the Fed’s purpose. The central bank is not here to save the U.S. from harm, it is here to make sure the U.S. falls in a particular manner — a controlled demolition of our fiscal structure.

The US Is Becoming A 3rd World Nation As The Economy Breaks Down: Paul Craig Roberts


          Captain 'Merica   
Introducing a new superhero... Captain ‘Merica! He’s just as good as the “other” captain, with a few nuances: The other captain was given a serum that made him a “super soldier,” enhancing all of his functions to the peak of human ability. Captain ‘Merica is known to drink other people’s “wounded soldiers” (unfinished beers), which has given him a superhuman tolerance for Busch Lite. The other captain has mastered all manner of martial arts and combined them into a unique style of hand-to-hand combat. Captain ‘Merica lost several of his teeth in a fist fight with the waiter at Bennigan’s. The other captain’s weapon is a shield made of a super-strong alloy that has never been duplicated. Captain ‘Merica’s weapon is a trashcan lid that he uses to chase away racoons, ex-wives and debt collectors. The other captain defeated Nazi Germany to make the world safe for democracy. Captain ‘Merica doesn’t own a passport. Catchphrases: “Avengers, unite!” vs. “Business in front, party in the back.”

Regular Price: $28.00

Special Price: $18.00

          7/2/2017: BUSINESS: Top tips for clearing your debt   

Pay off the small debts first The most sensible strategies mathematically don’t always work because the human brain isn’t logical. Therefore strategies that trick our brains into thinking we’re making inroads can actually lead to greater...
The Amerada Hess Corporation's senior unsecured debt rating was cut below investment grade by Moody's Investors Service, which cited concern over costs and the oil company's ability to meet production goals. About $4 billion in securities were aff...
          This Podcast Just Showed Us What $1.4 Trillion in Student Loans Feels Like   
The “Debt, Sex & Money” podcast highlights the stories of those who are saddled with student loan debt and working to pay it off.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.

          meet peter parker   

A couple of weeks ago, this little guy sweetly stared his way into my heart. Meet Peter Parker, the newest member of my family.

Parker was adopted via NKLA (No Kill LA), an organization that partners with many local rescues with the aim of reducing the number of animals put down each year in greater Los Angeles simply because they have no home.

This sweet little guy was found at a local shelter where he was being held as evidence in trial. When the trial was over, he was released to the care of Henry's Hope Foundation.  He owes his name, and I owe a debt of gratitude to the fosters who took him under their wing until he was ready for adoption.

I'd been planning to adopt a dog for quite some time, but I never expected to find a pooch as special as he is. Welcome to the family, kiddo! I am so lucky to have you.

          Orange County pays off $1-billion bankruptcy debt   

Orange County has paid off the last of $1 billion worth of bonds it raised to haul itself out of bankruptcy.

The Orange County Register says, after 22 years, the county on Saturday delivered the final payment to bondholders.

With interest, the repayment totaled about $1.6 billion.

The county still...

          Cinedigm Sells Majority Ownership Stake to Hong Kong’s Bison Capital in $40 Million Deal   
Cinedigm — landing a deal to bring in much-needed financing to pay down its debt — has agreed to sell majority equity ownership to Bison Capital, a Hong Kong-based investment firm. Under the terms of the deal, Cinedigm will sell Bison Capital 20 million shares of Class A common stock for up to $30 million.... Read more »
           Why are payday loans legal? Cashfloat releases a research summary exploring possible answers.    
Friday 30 June, 2017

Payday loans are a controversial topic. Should they be banned? Heavily regulated? Are they just legal debt traps? As a payday lender, Cashfloat is in the middle of it all.

Western Circle Limited, a premium payday lender trading as, has released research (read it here) exploring the payday loan industry in the UK. The question tackled was: why are payday loans legal? Cashfloat brings together wide variety of statistics and information to provide a comprehensive view of the possible solutions for the payday loan industry.

Here are some key points brought up in the research:

Our own statistics say that well over two-thirds of our borrowers repay their loans early or on time, indicating that borrowers are fully aware of what they are signing up for.After payday loan were banned in some states in America, the numbers of returned cheques and the income banks made from overdraft fees increased.The current FCA regulations provide a safety net for the borrower, but are they enough? Read our analysis.

“This research brought up a lot of key points, and uncovered some interesting common misconceptions. The payday loan industry is one of the most hated industries, so it’s fascinating to look at it objectively, using statistics and external studies to uncover some truths about the industry. It’s an easy read, and I’d really recommend it for anyone with an opinion on payday loans,” says Elizabeth Redfern, head researcher.

What’s in the report?

Cashfloat begins the investigation with a look at whether payday loans are as unreasonable as they are often portrayed to be, and discuss whether they ever actually help people. Do payday lenders prey on the unaware? Statistics seem to indicate otherwise. Using their unique position as a payday lender, Cashfloat looked at their own data to see how people are coping with their loans.

The article then discusses the possible impact on individuals and the national economy of a complete ban on the payday loan industry. It points to various studies performed in the USA, where individual states each have their own regulations ranging from complete bans to no restrictions on the industry at all. This provides an interesting opportunity for many statistical analyses of the effects of banning payday loans. The results of these studies were often quite surprising.

Are there any suitable alternatives to an outright ban? The option of heavily regulating the industry is explored, followed by a discussion on how successful the current FCA regulations are in protecting the safety of borrowers. Read the full report here.

About Cashfloat is a trading style of Western Circle Limited; an FCA-fully authorised direct lender. The Cashfloat model is based on fundamentally good morals and very advanced artificial intelligence technology designed to help and protect people taking payday loans online.


Kelly Richard, 020-3757-1933

Ofer Valencio Akerman (SEO and Security)

Social Media Accounts

* For more information regarding media usage, ownership and rights please contact Cashfloat.Co.Uk.

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          Comment on Angela Merkel Reflects Fear and Loathing Amid EU Elites… by 2x4x8   
the natural resource, asset stripper cartel is on the outside in this Government, and the wealth benefits Americans, think of the North Dakota Sovereign Fund but lifting energy exports controls could work against us in a Cartel controlled Government, shipping out crude oil while our prices skyrocket here kinda reminds me of Poland paying its debt to the Soviet Union by packaging hams hidden in paint cans to export while the Polish went hungry just a thought on Jason Chaffetz and his decision on leaving Congress, seems Trump did not side with the GOPe effort to sell off large tracts of Government land to the Cartel strippers and instead appointed Ryan Zinke at Interior (i supported Sarah Palin for the job) so that eliminated the need to reward an undeserving chairmanship to Chaffetz, the chief cheerleader/go to person on the issue
          The 20 most affordable U.S. medical schools   
Ain’t nobody got time for crippling levels of student loan debt. Filed under: COLLEGE CHOICE Tagged: College choice, doctor, medical (...)
          Look at how horrible the PS Vita section is at this shop wwwwwwww   

WARNING: Potentially NSFW content. Read at your own risk.

* (Thanks to the one who pointed it out)

1: メンマ(新疆ウイグル自治区)@\(^o^)/:2014/06/03(火) 23:43:46.89

1: メンマ(新疆ウイグル自治区)@\(^o^)/:2014/06/03(火) 23:43:46.89

2 : ファルコンアロー(dion軍)@\(^o^)/:2014/06/03(火) 23:44:22.92
Are kids allowed to enter this area?
3 : ファルコンアロー(東京都)@\(^o^)/:2014/06/03(火) 23:44:45.06
This country just gives too many jobs to artists (drawing) and seiyuus

9 : ファイヤーバードスプラッシュ(東京都)@\(^o^)/:2014/06/03(火) 23:46:26.51
So the biggest problem is the reality that there's a demand for it

4 : チェーン攻撃(東京都)@\(^o^)/:2014/06/03(火) 23:45:02.04
This is already like a disease (´・ω・`)
5 : エメラルドフロウジョン(やわらか銀行)@\(^o^)/:2014/06/03(火) 23:45:15.26
So what should we think of these pseudo-ero games on such a high-spec hardware?
6 : ニーリフト(愛知県)@\(^o^)/:2014/06/03(火) 23:45:16.08
Look, third party publishers are gravitating towards the Vita! (smug
7 : オリンピック予選スラム(青森県)@\(^o^)/:2014/06/03(火) 23:45:47.00
I was certain that you were referring to MoeChro (Moero Chronicle)
8 : 雪崩式ブレーンバスター(三重県)@\(^o^)/:2014/06/03(火) 23:46:04.84

Oh, so it's an ero-game corner. As long as you can't see this from the entrance then there's no problem.
10 : ビッグブーツ(dion軍)@\(^o^)/:2014/06/03(火) 23:46:41.99
I- I'm no otaku and I'll just put up with Vita TV

18 : アトミックドロップ(内モンゴル自治区)@\(^o^)/:2014/06/03(火) 23:49:12.96
But VitaTV's also pretty useless

11 : 不知火(栃木県)@\(^o^)/:2014/06/03(火) 23:46:52.81
You probably mean that it's an ero game corner
13 : ニーリフト(東日本)@\(^o^)/:2014/06/03(火) 23:47:17.39
Is it an ero game from DMM? w
14 : トペ スイシーダ(新疆ウイグル自治区)@\(^o^)/:2014/06/03(火) 23:48:03.27

This must be one of those shops with that kind of crowd as its target. Even if it isn't on Vita, games like this will generate displays like this regardless of the hardware it's on.
15 : レッドインク(庭)@\(^o^)/:2014/06/03(火) 23:48:11.99
So, is there really a game that utilizes the rear-side touch panel?
20 : ストレッチプラム(東京都)@\(^o^)/:2014/06/03(火) 23:49:36.24
It's the same situation as the PC-FX
21 : ショルダーアームブリーカー(埼玉県)@\(^o^)/:2014/06/03(火) 23:50:06.38
Must be one of those shops that don't allow kids inside
22 : ファルコンアロー(群馬県)@\(^o^)/:2014/06/03(火) 23:50:14.42
Because the ero game market has collapsed, and the people from that industry have all been moving on to anime and commercial stuff
24 : イス攻撃(兵庫県)@\(^o^)/:2014/06/03(火) 23:50:33.77
The geo near my place only brought in 1 copy so I wasn't able to buy MoeChro
25 : 膝十字固め(東京都)@\(^o^)/:2014/06/03(火) 23:51:53.39
I actually think it's healthier to show actual sex instead of them forcing to show their panties or applying liquid substances on their bodies
28 : バズソーキック(チベット自治区)@\(^o^)/:2014/06/03(火) 23:54:52.56 ID:OoPW1Y/
Yeahhhh, Imma buy a Vita
29 : アトミックドロップ(東京都)@\(^o^)/:2014/06/04(水) 00:04:58.63 ID:Nb3vhre/

I didn't know that the PS has been encroached by kimo-otas. No wonder regular people would feel disgusted by it.
31 : ビッグブーツ(千葉県)@\(^o^)/:2014/06/04(水) 00:05:43.97
I'm gonna buy a vita then
32 : タイガードライバー(静岡県)@\(^o^)/:2014/06/04(水) 00:05:57.05

They put too much effort in their store display. Must be the preference of the wota staff.
33 : ランサルセ(長屋)@\(^o^)/:2014/06/04(水) 00:07:34.92 ID:WaK/
The hardware in itself is good, such a waste
34 : ジャンピングDDT(新疆ウイグル自治区)@\(^o^)/:2014/06/04(水) 00:09:51.31

I don't think the shop is even willing to sell these off. It'd be impossible for me.
35 : 毒霧(神奈川県)@\(^o^)/:2014/06/04(水) 00:11:58.70

Vita's a good machine. I got mad at how Kagura's been out of stock, though.
36 : 雪崩式ブレーンバスター(埼玉県)@\(^o^)/:2014/06/04(水) 00:15:23.65 ID:x/
It's something like PC Engine
37 : パイルドライバー(神奈川県)@\(^o^)/:2014/06/04(水) 00:17:56.82
Isn't that an R18 corner?
38 : ラダームーンサルト(庭)@\(^o^)/:2014/06/04(水) 00:18:06.33
Sorry, impossible for me. I'd rather watch regular AV instead.
39 : スターダストプレス(鹿児島県)@\(^o^)/:2014/06/04(水) 00:19:34.01
As expected of our fap-hard-ware
40 : エルボーバット(静岡県)@\(^o^)/:2014/06/04(水) 00:29:07.16

"What's this gross ero game corner-like display!"
is what I first thought, but upon closer look, I realized that it's the game inserted in my Vita right now w
42 : アルゼンチンバックブリーカー(庭)@\(^o^)/:2014/06/04(水) 00:29:19.75

Kids don't have to buy it. We've got a declining birth rate after all, so they should keep releasing software aimed at adults.
44 : ダイビングフットスタンプ(静岡県)@\(^o^)/:2014/06/04(水) 00:30:39.27
Gaming hardware on the regress all resorted to eroticism for their survival, even since the days of the SEGA Saturn

47 : ウエスタンラリアット(家)@\(^o^)/:2014/06/04(水) 00:35:39.76
PC Engine: "Uhmmm..."

45 : ドラゴンスープレックス(愛知県)@\(^o^)/:2014/06/04(水) 00:33:33.43
It was just another one of those ero corners
49 : エルボードロップ(dion軍)@\(^o^)/:2014/06/04(水) 00:36:41.18
But kids are the only ones who buy stuff like this, right?
52 : 断崖式ニードロップ(やわらか銀行)@\(^o^)/:2014/06/04(水) 00:41:23.06
これが秋葉原だよ 地方民には分かるまい
This is how it is in Akihabara.
You country hicks wouldn't get it.
53 : ドラゴンスクリュー(中国地方)@\(^o^)/:2014/06/04(水) 00:42:29.11
Well, Noir isn't erotic, 'kay? (´・ω・`)
55 : ファルコンアロー(岐阜県)@\(^o^)/:2014/06/04(水) 01:15:24.70

I see, so this is why Sony hasn't been doing well. All of SCE's debts are guaranteed by the headquarters, right? Doing something like this won't even be able to save something that doesn't need any help.
56 : ファイヤーボールスプラッシュ(静岡県)@\(^o^)/:2014/06/04(水) 01:18:42.71
There's no need to make kids play games so this is fine
61 : ラ ケブラーダ(静岡県)@\(^o^)/:2014/06/04(水) 01:47:13.58

But then again, Japanese games have just desperately become so boring, that 3DS and Vita are also bad.
Let's just pin our hopes on the PS4 with its strong lineup of Western games.

67 : 垂直落下式DDT(茨城県)@\(^o^)/:2014/06/04(水) 01:56:02.85
Hurry up and get yourself an XBOX ONE
75 : ラ ケブラーダ(静岡県【緊急地震:茨城県北部M4.5最大震度3】)@\(^o^)/:2014/06/04(水) 02:27:12.63
I don't need trash like that

63 : 河津掛け(四国地方)@\(^o^)/:2014/06/04(水) 01:51:37.88
I just realized yesterday that this is pretty useful when you want to watch Niconico.
64 : ドラゴンスープレックス(岡山県)@\(^o^)/:2014/06/04(水) 01:52:37.42
Is this in Sofmap?
68 : キドクラッチ(dion軍)@\(^o^)/:2014/06/04(水) 01:58:36.61
vitaは持ってるし、コンパイルハートも好きだけど、これは酷いなw エロゲー売り場かと思った。
I have a Vita and I like Compile Heart, but this is horrible. w I thought it was an ero-game corner or something.
70 : リバースパワースラム(catv?)@\(^o^)/:2014/06/04(水) 02:12:53.88 ID:FvKd/
I have finally come to realize how wonderful 2D is now that I'm 35
72 : ナガタロックII(広島県)@\(^o^)/:2014/06/04(水) 02:21:02.55
0:00 We say hello 3:20 This is how you get a hold of us, and there are many ways, indeed. 5:08 Emails! Trade deadline scouting, Ranking philosophies, a sub-.500 Yankees team 40:35 Do teams over-value their prospects come trade deadline? 54:30 Pirates: Go for it or stick to the plan? 59:52 Predictions: Who goes where 1:12:47 Trade Deadline Special Guest: Buster Olney of ESPN 1:34:56 Debt Crisis Special: Official news correspondent Lincoln Mitchell with a primer 1:52:58 Listener Of The Week: Astrophysicist Dr. Million with a call to action 2:23:34 Musical Guest: Martha's Vinyard Ferries 2:25:02 What Are You Drinking? (We're fixing this!) 2:27:04 Newberg Night Wrap-Up 2:36:29 The Week Ahead
          Two Policy Updates   

The IMF has been reluctant to participate in the aid package to Greece that runs out the middle of next year.  It does not believe that Greek debt is sustainable.  Nevertheless, it did recently agree to provide a precautionary line of credit at the end of the program.   

The IMF decision required the approval of the board, and we thought there was a reasonable chance the US would block it.   That would have been significant, as the German and Dutch parliaments require the IMF participation, but there is no compelling reason for the IMF to participate.   The sustainability of Greece's debt is such an open question that the ECB, which accepts Greek bonds as collateral (for weekly operations) will not include Greek bonds in its asset purchase program.  Moreover, Europe can take care of its ownproblems.  Isn't that what the European Stabilization Mechanism is meant to do?  

The Trump Administration has shown little sympathy for Europe.  The US President has been particularly critical of Germany.  The new sanctions that the US Senate has approved and are now before the House of Representatives would make it more difficult to complete the Nord Stream 2 pipeline that is supposed to bring Russian gas to western Europe bypassing Ukraine.  The US commercial interest is clear too.  It wants to export more natural gas to Europe.  The US has been critical that not all European members of NATO are spending 2% of GDP on defense.  

Nevertheless, US Treasury Secretary Mnuchin appears to have approved the IMF's precautionary line of credit to Greece.  Mnuchin praised the IMF for helping stabilize the situation in Greece by working with Europe.  Mnuchin said that without the IMF's help, Greece could have once again roiled the markets.   

At the same time, the US Treasury Secretary played down the significance.  He noted that the IMF's commitment was quite small and would likely not even be used.  Mnuchin seemed to suggest it was mostly for appearances, and that it would not cost US taxpayers a penny.    He expressed support for the IMF but noted that the US was reviewing all of its contributions.  

On another front, findings of the investigation into US steel imports on national security grounds are still expectedin the coming days.  Commerce Secretary Ross had indicated the results would be ready by the end of the month.  It appears that the investigation is over and the debate over the policy response is in high gear. 

The President reportedly wants to impose tariffs and use them as the model for action on aluminum and other industries (reportedly including semiconductors, paper, and household appliances).  Reports suggest that most cabinet officials are opposed to the 20% tariff Trump is pushing.   One compromise would be a combination setting a quota on steel imports and a tariff on imports above the quota.   

US steel imports have fallen for the past two years. Setting a quota at the 2016 levels would guard against backtracking.    The prospects of a 20% tariff, however, appears to be underpinning the share prices of some of the largest US producers.  On the other hand, as consumers and producers wait for a decision, some reports suggest that it is dampening activity.  


          Ep. 212 – Connecticut Faces Day Of Reckoning, Yellen Says Financial Crisis Probably Won’t Happen, The World Is $217 Trillion In Debt   
In this episode of The Realist News podcast: It's not just Illinois, Connecticut faces Friday day of reckoning. Joke of the day, Yellen says a financial crisis probably won’t happen in our lifetimes. The world is now $217 trillion in debt and the global elite like it that way.
          PRESENTING: The most important charts in the world from the brightest minds on Wall Street   

markets 4x3

Here they are: the most important charts in the world. 

Once again, we asked dozens of top strategists, economists, and writers for one chart that is top of mind right now. The slideshow includes their verbatim analysis of the trend they picked. 

All of these charts were submitted by June 16, so some of the data may have evolved since then.

With assistance from Rachael Levy, Elena Holodny, and Jonathan Garber.


David Rosenberg

"This is where the power and influence still reside, and nothing is going to stop the inevitability that nearly two million of this critical demographic group will be turning 70 annually for the next 15 years. And they are very likely to make it to 85 or even older with medical advancement.

This has crucial implications for the financial markets because it is when you turn 70 that you undertake the most profound asset mix shift since you were in your 30s and loaded up on equities — when you turn 70, preservation of capital and cash flows becomes much more important, and yet in a world where 'safe yield' has become extremely scarce, the investment challenges for the aging but not yet aged boomers are going to be daunting, to say the least."  

Rick Rieder

"This crisis has under-appreciated negative side effects for the US economy as a whole. Most significantly, student loans are making it harder for first-time home buyers to afford their own home, with more than 70% of would-be first-time buyers saying student loan debt is delaying their home purchase, according to the National Association of Realtors. As a result, the homeownership rate in the US has fallen each of the last six years despite a solid economic recovery, according to the US Census Bureau, with the biggest impact coming from the 25-34 year old cohort as seen in the chart above. 

The student loan burden is not just curtailing young adults’ home buying; it is weakening their consumption in general, posing a major headwind to US economic growth. In addition to the direct economic impact, the student loan crisis could also worsen the class divide. Home ownership levels at age 30 are much lower among those with college debt than those without, and when faced with today’s high college costs coupled with the prospect of taking on significant debt, more students from lower-income households may choose not to attend college, worsening their outlook for employment and wage income over the course of their career. The bottomline: This crisis is likely to be a major drag on the US economy for years to come if it remains unaddressed, and an elegant fiscal-policy solution is needed, the sooner the better."

Torsten Slok

See the rest of the story at Business Insider

          Top Tories in revolt against May over public spending   
Jeremy Hunt and Justine Greening tell PM it is time to ease austerity as poll shows party leader’s popularity plummeting

Theresa May is facing a chorus of Tory demands for a radical overhaul of state funding for public services as cabinet ministers and senior Conservative MPs back higher pay for millions of NHS workers, more cash for schools and a “national debate” on student debt.

The prime minister’s waning authority was highlighted as her health secretary, Jeremy Hunt, and education secretary Justine Greening lobbied for an easing of austerity and senior Conservative MPs insisted public services would be in growing peril without an urgent loosening of the purse strings.

Continue reading...
          Inspector/Field Representative Legal Support Services - Veranova Properties Limited - O'Leary, PE   
Reliable vehicle, cell phone, computer, tools. Comfortable with and adaptable to dealing with distressed properties and customers or debtors....
From Indeed - Tue, 16 May 2017 15:35:26 GMT - View all O'Leary, PE jobs
          Inspector/Field Representative Legal Support Services - Veranova Properties Limited - Alberton, PE   
Reliable vehicle, cell phone, computer, tools. Comfortable with and adaptable to dealing with distressed properties and customers or debtors....
From Indeed - Tue, 16 May 2017 15:36:01 GMT - View all Alberton, PE jobs
          Banks or India Inc: Who will come back from the brink first?   
Delayed mega-projects, a resultant debt overhang and bankers determined to haul errant promoters to the bankruptcy courts have spooked corporate India.
          Development Fund Awards Funding Requests Totaling $1,122,875 Million   
By ND Commerce
The North Dakota Development Fund, a loan program within the North Dakota Department of Commerce, awarded funding for five projects totaling $1,122,875 at its monthly board meeting held in April.
The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. Primary sector businesses create new wealth and are typically manufacturers, food processors and export service companies.
The following requests were funded:
Advanced Business Solutions, (Fargo) was awarded a $200,000 loan to finance working capital needs for an expansion project. The company provides web based subscription service for advisors to use and implement to address the issues of profitability and cash flow.
BioMagnetic Sciences, (Wahpeton) was awarded a $350,000 loan to finance working capital needs for an expansion project. BioMagnetic Sciences is a medical device company with products to treat osteoarthritis.
PHR Plus, (Fargo) was awarded a $250,000 loan to finance working capital needs for an expansion project.  PHR Plus is a digital health company that assists individuals to manage their health and medical information, and partners with organizations to power their population health programs.
Bright Futures Learning, (Fargo) was awarded $100,000 loan to be used to support planned growth. Bright Futures Learning is a new daycare center.
Skid-Lift, (Fargo) was awarded a $222,875 loan as a part of a total funding package with Bank Forward and Bank of North Dakota; to fund the purchase of equipment, office remodel, and repayment of royalties. The company produces a scissor lift used with a skid-steer.
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.
For more North Dakota news and information go to

read more

          Development Fund Awards Funding Requests Totaling $2.75 Million   
By ND Commerce
Bismarck, N.D. -- The North Dakota Development Fund, a loan program within the North Dakota Department of Commerce, awarded funding for five projects totaling $2,750,000 at its monthly board meeting held in February.
The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. Primary sector businesses create new wealth and are typically manufacturers, food processors and export service companies.
The following requests were funded:
ZuluFly, LLC, (Fargo) was awarded a $350,000 loan to finance working capital needs. The company is a developer of real-time locating system and radio-frequency identification software solutions.
CoSchedule, LLC, (Bismarck) was awarded a $1,000,000 loan to finance working capital needs, equipment purchases and improvements needed to be made by the company based upon its planned expansion. CoSchedule develops software used in social media markets.
Plains Mobile, Inc., (Linton) was awarded a $400,000 loan to finance working capital needs, equipment purchases and improvements needed to be made by the company based upon its planned expansion. The company develops an integrated cloud-based software aimed at simplifying business systems that interact with people, equipment and mobile devices.
BotLink, LLC, (Fargo) was awarded $500,000 loan to be used to support planned growth. BotLink develops software and hardware for fully integrated operations platforms that combines real-time date delivery, control and safety.
Valley City-Barnes County Development Corporation, (Valley City) was awarded a $500,000 loan to assist with workforce training for Eagle Creek Software Services.
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.
For more North Dakota news and information go to

read more

          Development Fund Awards Funding Requests Totaling $1,620,000   
By ND Commerce
The North Dakota Development Fund, a loan program within the North Dakota Department of Commerce, awarded funding for three projects totaling $1,625,000 at its monthly board meeting held in October. 

The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. Primary sector businesses create new wealth and are typically manufacturers, food processors and exported service companies. 

The following requests were funded: 
  • Harvest Fuel, Inc., (Walhalla) was awarded a $725,000 loan to expand operations at their Walhalla facility. Harvest Fuel sells a variety of feed supplement products for horses, beef and dairy cattle, sheep, goats, and other livestock. The products are designed to improve the digestive health and promote growth, while providing increased feed efficiency of up to 25 percent. 
  • FarmQA, Inc., (Fargo) was awarded a $750,000 loan to help fund working capital for an upcoming expansion. FarmQA develops various efficiency software programs for large-scale growers in the agricultural industry and also distributes the associated hardware.  
  • Mama Mia, Inc., (Fargo) was awarded $150,000 loan to be used to provide working capital. The company is a designer outlet store in a boutique environment with the purpose of finding, repurposing, and selling inventory through the MODE franchise stores. 
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services. 

For more North Dakota news and information go to

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          Development Fund Awards Funding Requests Totaling $1,367,500   
By ND Commerce
The North Dakota Development Fund, a loan program within the North Dakota Department of Commerce, awarded funding for three projects totaling $1,367,500 at its monthly board meeting held in May.
The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. Primary sector businesses create new wealth and are typically manufacturers, food processors and exported service companies. 

The following requests were funded: 
  • Harvest Fuel, Inc., (Walhalla) was awarded $467,500 loan to finance a building project. Harvest Fuel sells a variety of feed supplement products for horses, beef and dairy cattle, sheep, goats, and other livestock. The products are designed to improve the digestive health and promote growth, while providing increased feed efficiency of up to 25 percent. 
  • GoodBulb, LLC., (Fargo) was awarded a $300,000 loan purchase light bulb inventory, fund working capital, and purchase an inventory management software program. The company is an e-commerce business that warehouses, repackages and sells various lightbulbs. The company is also developing its own brand of light bulb to be sold via the internet. 
  • BotLink, LLC., (Fargo) was awarded $600,000 loan to be used to support the company’s planned growth. The company developed the software and hardware for a fully integrated operations platform that combines real-time date delivery, control, and safety for UAV manufacturers and operators. 
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services. 

For more North Dakota news and information go to

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          North Dakota Development Fund Adds Board Members   
By ND Commerce
Commerce Commissioner Alan Anderson announced two new members for the North Dakota Development Fund board today, Pat Murphy with Murphy Motors in Williston and Scott Davis with the North Dakota Indian Affairs Commission. 

Murphy, a native of Minot, has been a Chevrolet, Buick, Cadillac, and GMC Truck Dealer in Williston since 1987.  Murphy was recognized nationally by winning the TIME Magazine Quality Dealer Award in 2011. He is a past President of the North Dakota Automobile Dealers Association and served on the General Motors Dealer Advisory Board for three years. Murphy also served on the Advisory Board for XM Satellite Radio and Onstar. 

Davis was appointed executive director of the North Dakota Indian Affairs Commission in April 2009 by Gov. John Hoeven. He serves at a cabinet level between North Dakota's state and tribal governments to address issues regarding education systems, court systems, economic development, social services, gaming, oil-energy, law enforcement, transportation, healthcare systems, veterans and youth. Prior to his appointment, Davis served in a number of capacities at United Tribes Technical College in Bismarck, including Development Officer, Wellness Activities Coordinator, Facilitator and Adjunct Instructor. 

“Pat and Scott bring a wealth of experience and understanding of the business community and will be a great addition to our board,” Anderson said. 

The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. Primary sector businesses create new wealth and are typically manufacturers, food processors and exported service companies. 

The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services. 

For more North Dakota news and information go to

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          Development Fund Awards Funding Requests Totaling $1,510,000   
By ND Commerce
The North Dakota Development Fund, a loan program within the North Dakota Department of Commerce, awarded funding for four projects totaling $1,510,000 at its monthly board meeting held in April. 

The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. Primary sector businesses create new wealth and are typically manufacturers, food processors and exported service companies. 

The following requests were funded: 
  • Gates Manufacturing, Inc., (Lansford) received a renewal of its $500,000 line of credit to finance the company’s working capital needs. Gates Manufacturing, Inc. manufactures light and heavy harrows and other tillage equipment for the agricultural industry. 
  • Buzz360, LLC, (Fargo) was awarded an $160,000 multiple advance loan to finance the company’s working capital needs. Buzz360, LLC is an online marketing automation platform company. The company offers social and automated marketing tools, plus the best of customer relationship management, to give large firms that serve or market through small businesses a powerful solution for their customer community. 
  • Earth-Kind, Inc. (Bismarck) received a renewal of its $600,000 line of credit to finance the company’s working capital needs. Earth-Kind is a developer, designer, and bio-manufacturing pioneer in natural alternatives to protect households everywhere from pests and odors and sells to national retailers such as Lowe’s, Target, Ace Hardware and Tractor Supply. 
  • Buffalo City Wood Products, Inc, (Jamestown) received a renewal of its $250,000 line of credit to finance the company’s working capital needs. Their primary product is the “Dakota Cabin” which is available in about 20 different models. The company has also produced a dormitory unit for oil workers in Western North Dakota. 
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services. 

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          North Dakota Ranks Third in National Economic Competitiveness Ranking   
By ND Commerce
North Dakota ranks third best state in a national report that compares each state’s economic competitiveness.

In its annual report called “Rich States, Poor States,” the American Legislative Exchange Council found that North Dakota is among the best states in implementing “pro-growth” economic policies. 

“This competitive index shows that North Dakota continues to take the right steps to keep taxes low, to support our workforce development and to advance many other important pro-growth policies that enable businesses to thrive and our economy to grow and diversify,” North Dakota Commerce Commissioner Al Anderson said. 

The American Legislative Exchange Council bases its economic competitive index on 15 equally weighted policy variables, including regulatory policies and tax policies. North Dakota’s strong performance included high rankings for low property tax burden, low debt service, effective tax policy and a low income tax burden. 

Utah received the top ranking, followed by North Carolina, North Dakota and Wyoming. Rich States, Poor States can be found at

The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services. 

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          North Dakota Development Fund Celebrates Investment Milestone   
By ND Commerce
The North Dakota Development Fund, an investment program within the North Dakota Department of Commerce, recently awarded its $100,000,000th investment.

 “Since the inception of the Development Fund, it has invested $104 million in 573 companies with over $36 million invested in rural communities,” Development Fund CEO Dean Reese said. “These investments have contributed to the projected creation of 10,683 primary sector jobs and helped seven start-up businesses begin operations in North Dakota in 2014 to 2015, three of which were in rural communities.”

 The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses.

 “Over the past 24 years, the Development Fund has proven to be a valuable resource for business development, significantly contributing to job creation,” Commerce Commissioner Al Anderson said. “As we continue to grow and diversify our economy, it is important that we provide the financing resources needed to help support business start-up or expansion projects in our state.”

 The North Dakota Development Fund coordinates efforts between all the sources of financing, the business and the community. Any project considered for financing must be feasible and have a reasonable chance of succeeding. The fund is a secondary source of financing, which can be subordinate to private sources. If a business can't handle added debt, the Development Fund can take an equity financing position.

 The Development Fund administers six investment programs, which includes the Regional Rural Revolving Loan Fund, which provides funding for primary-sector projects located in a community of less than 8,000 in population or located more than five miles outside the city limits. 

 The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.

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          North Dakota Development Fund Increases Funding Limits for Businesses to $1 Million   
By ND Commerce
The North Dakota Development Fund, a loan program within the North Dakota Department of Commerce, announced today it has increased funding limits from $300,000 to $1 million.
“This increase in funding to $1 million will help businesses access capital to help support start-ups or expansion projects across our state,” North Dakota Development Fund CEO Dean Reese said. “North Dakota businesses in need of debt or equity financing can look to the Development Fund as a possible solution. The fund continues to be a valuable resource for business development, providing a strong return on investment for taxpayers and significantly contributing to job creation.”
Since the inception of the Development Fund in 1991, it has invested $103 million in 555 companies with over $33 million invested in rural communities. The investments have contributed to the projected creation of 10,683 primary sector jobs. The Development Fund helped seven start-up businesses begin operations in North Dakota in 2013 to 2014, four of which were in rural communities.
The North Dakota Development Fund provides flexible gap financing through debt and equity investments for new or expanding North Dakota primary sector businesses. Primary sector businesses create new wealth and are typically manufacturers, food processors and exported service companies.
The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.
For more North Dakota news and information subscribe to the Commerce News RSS Feed or go to

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          Dalrymple, Badlands NGL Announce Largest Private Equity Project in State History   
By ND Governor's Office
Governor Jack Dalrymple along with William Jeffrey Gilliam, CEO of Badlands NGL, LLC, today announced the development of a North Dakota manufacturing plant that will convert ethane, a byproduct of natural gas processing, into polyethylene which is used to make a wide variety of end-use consumer and industrial plastics.
Badlands NGL, LLC, and its partners expect to invest $4 billion to build the polyethylene manufacturing facility in North Dakota. The project will be the largest private investment in state history.
“This project is fully aligned with our goals to reduce flaring, add value to our energy resources right here in North Dakota and create diverse job opportunities across the state,” Dalrymple said.  “By advancing the responsible development of our energy resources and by adding value to all of our resources, the opportunities in North Dakota are boundless.”
Joining Dalrymple and Gilliam for the announcement were Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, both of whom serve with Dalrymple on the North Dakota Industrial Commission which regulates the state’s energy industry.  Sen. John Hoeven also participated in the announcement which was held at the state Capitol in Bismarck.
"The role of the Industrial Commission in helping the Badlands’ project come together reflects the Commission's mission to promote oil and gas production in a manner that prevents waste and protects the rights of mineral owners," Goehring said. “When completed, this project by itself has the potential to reduce most of the flaring of natural gas in our state.  That’s real progress and good news for North Dakota.”
The value-added manufacturing plant will tap into North Dakota’s abundant supplies of liquid natural gas to source ethane.  The facility will convert ethane gas to low density and high density plastics which are used to make a wide range of end products for consumers and industry.  The facility will be able to produce 1.5 million metric tons of polyethylene, or 3.3 billion pounds annually, and will employ 500 highly trained people in manufacturing, marketing, administrative, safety, financial and executive positions. The project will take at least three years for full development.
“This is a good example of what we can accomplish by adding value to our energy resources,” Stenehjem said. “This plant will not only help us reduce the flaring of natural gas, but it will also create new, high-paying jobs and further diversify our state economy.”
Badlands intends to market the majority of the polyethylene products domestically, but product will also find its way to markets in Asia, South America and Europe.  Project developers say that the plant’s location in North Dakota will enable them to efficiently ship to world markets from the Pacific Northwest and from Atlantic ports.
“Badlands is proud to bring this manufacturing facility to North Dakota,” Gilliam said. “We are committed to maximizing the value of Bakken ethane for producers, their midstream partners and all gas processors. This facility is the solution needed to add value to North Dakota’s ethane supply and make it a commercially marketable product.  In doing so, there will actually be a market advantage for North Dakota polyethylene products.
“North Dakota elected officials and agencies have provided Badlands with by far the most business-friendly and pro-development environment in the United States, Gilliam said. “We have been fortunate to attract many of North Dakota’s leading business and community leaders as Badlands investors, and we continue to discuss debt and equity capital markets needs with major financial institutions.”
In developing the world-class manufacturing plant, Badlands is working with two strategic partners, Tecnicas Reunidas, or “TR” (, which is based in Madrid, Spain, as well as Vinmar Projects ( of Houston, Texas. TR, one of the largest petrochemicals and polymers contractors in the world, is completing a preliminary engineering analysis for Badlands. This work is scheduled for completion in 2014 and will include technology evaluations, engineering and planning, and final site selection. 
Vinmar provides services in support of project finance for the development partners.  Vinmar and Badlands have signed a mutually binding, 15-year memorandum of understanding for 100 percent of the polyethylene to be produced by the Badlands project. 
Badlands NGL, LLC is a Delaware limited liability company. Principals and strategic partners of Badlands have considerable experience in development, construction and management of operations that convert natural gas liquid into polyolefin products.

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          Taxable Vs. Tax Exempt Bonds   

Bonds are debt securities that are similar to IOUs. You are lending money to the government or a government entity when you purchase a bond, and in return, you are earning interest that the issuer promises to pay you. There are different types of bonds available for investment, and it is important to compare the taxable bonds to the tax-exempt, or municipal, bonds before investing your money.

           Empowered Hypnosis Audio Companion Meditation App (Healthcare & Fitness)   

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          China’s capital flight and US monetary policy   

China’s capital flight and US monetary policy

Yin-Wong Cheung, Sven Steinkamp, Frank Westermann 27 January 2016

In a largely closed capital market like China, illicit capital flows are inherently difficult to measure as no official data is recorded and the true volume is unobservable. However, standard proxies in the literature suggest that it is economically sizable, amounting to up to 2% of GDP in recent years. Figure 1 displays three common measures of capital flight. Although these proxies appear to follow different dynamics, they have in common that they are large and on the same order of magnitude when compared to official flows.

Figure 1. Capital flight and official flows

Data sources: National Bureau of Statistics of China, China State Administration of Foreign Exchange, Directions of Trade Statistics (IMF), International Financial Statistics (IMF), own calculations.

Measures of capital flight

The World Bank residual measure of capital flight is based on the balance of payments statistics. It compares the sources to the uses of funds – that is, it takes net foreign investment and the change in foreign debt and deducts from it the current account balance as well as the change in reserves. The remainder is a series that has widely been used as a proxy of capital flight in the literature, an unexplained component in the balance of payments.

The trade mis-invoicing measure is based on the fact that different statistical agencies record the same export/import activities, but often report different numbers. For instance, an export out of China worth $1,000 may enter the US statistics with a value of $1,000, but enter the Chinese statistics with a value of only $500. When abstracting from transportation costs this ‘under-invoicing’ of exports may be a sign of capital flight, as the remaining $500 is placed in a US bank account rather than being sent to China.

A new pattern

An interesting new pattern is the decline of total illicit flows in recent years. In particular, capital flight as measured by trade mis-invoicing has declined since the beginning of the Crisis in 2007/8. In a new paper, we explain this new finding and interpret the results in the context of China’s trend towards a gradual liberalisation of its capital account (Cheung et al. 2016).

Earlier empirical studies have shown that illicit flows, just like official flows, respond to interest differentials between countries. As capital controls exist, covered interest differentials can occur and attract portfolio rebalancing by investors on both sides. The covered interest differential has been documented to be a relevant empirical factor explaining China’s capital flight. In our extensive empirical analysis, we show that this empirical link has remarkably diminished in recent years. Using an interaction dummy variable, we show that the post-2007 response to the covered interest differential has been significantly smaller – and is hardly different from zero.

The impact of US monetary policy and other factors

A new factor that started to play a role in the post-2007 period is the relative money supply between China and the US. While China’s money supply has been rapidly increasing for many years, the US has been following an expansionary monetary policy only since the onset of the Global Crisis. Empirically, we find that this change in the relative monetary stance of the two countries has had an impact on investors’ decisions to reallocate their portfolio between the two countries. The US expansion has significantly reduced capital flight out of China, in both the trade mis-invoicing as well as a combined measure of capital flight.

This empirical result helps to explain the reduced impact of covered interest differentials. The fit of the regression, measured for instance by the adjusted R2, improves when relative money supply and a dummy variable for the post-2007 period are added to the regression. This finding is also robust when controlling for other factors in a multivariate regression setup, including relative growth rates, exchange rate regimes dummy variables, and so on.

Another new factor that becomes increasingly important is China’s gradual process of capital account liberalisation. Using the new index of capital controls by Chen and Qian (2015), we control for this process. We find that it also starts being significant in the post-2007 period. Investors appear to appreciate China’s new policies by investing their financial resources domestically. Nevertheless, we also find that the ex post realised exchange rate volatility is a negative factor for capital flight (i.e. an increase in intra-day volatility of the renminbi has a significant positive impact on capital flight out of China).

A caveat: Transportation cost and insurance

In the absence of official data, all measures of capital flight are proxies and must be interpreted with caution in general. This is particularly the case for the trade mis-invoicing measure, as exports are commonly reported without transportation cost and insurance while data on imports include these items. The IMF and other researchers typically assume a constant 10% of the net trade value for transportation and insurance when computing trade mis-invoicing proxies.

But certainly trade costs can vary both across countries and over time. The statistical significance of tariff revenues in our regressions suggests that this is indeed a potential shortcoming of the analysis. To address this issue, we construct a modified version of the trade mis-invoicing measure that uses country-specific and time-varying trade cost estimates that were computed by the CEPII institute from a standard trade-gravity equation. The main results in the empirical analysis are unaffected by this change.

Economic and policy implications

Our empirical results highlight the challenges of managing China’s capital flight. First, different measures of capital flight seem to have different empirical determinants. Second, these determinants have been changing over time. From the Chinese perspective, it is thus important to take a disaggregated analysis into account when designing further steps of financial opening.

Our regression analysis extends only to the end of 2014 and does not include the events of the past year. Our findings imply, however, that the increased volatility in the summer of 2015 and in particular the recent raise in US interest rates, which were associated with expectations of a more general reversal of US monetary policy, may be the cause of a resurgence in capital flight. This reversal has already been visible in the World Bank residual measure, as well as the combined measure, in the first three quarters of 2015.


Cheung, Y-W, S Steinkamp and F Westermann (2016) “China's capital flight: Pre- and post-crisis experiences”, Journal of International Money and Finance, doi:10.1016/j.jimonfin.2015.12.009.

Chen, J and X Qian (2015) “Measuring the ongoing changes in China’s capital flow management: A de jure and a hybrid index data set”, HKIMR Working Paper No.11/2015.

Topics:  Global economy International trade Monetary policy

Tags:  capital flight, monetary policy, globalisation, international trade, Fed, expansion, capital account liberalisation, money supply, illicit capital flows, trade

          The ECB and the Fed: A comparative narrative   

The ECB and the Fed: A comparative narrative

Dae Woong Kang, Nick Ligthart, Ashoka Mody 19 January 2016

Although the Great Recession was viewed – especially in Europe – as mainly a US problem, the Eurozone has been implicated from the start and felt virtually the same impact in the early stages (Figure 1). The US economy, however recovered much faster. US stock prices and GDP regained their pre-crisis levels by late-2011; the Eurozone barely reached that stage in 2015.

Figure 1. Stock and GDP price movements

The US policy response was much more proactive (de Grauwe 2010). Fiscal stimulus was greater than in the Eurozone in 2008-9; the US also returned to fiscal austerity later, in 2011 rather than in 2010 as the Eurozone did (Mody 2015). More important was the US authorities’ active resolution of banking stress; Eurozone banking problems were allowed to fester. And throughout, US monetary policy was much more aggressive. In a recent paper, we used a narrative approach to identify the role of monetary policy during the Great Recession (Kang et al. 2015).

The US Federal Reserve lowered its policy interest rate (the Fed Funds rate) from 5.25% in September 2007 to 0-0.25% in December 2008 (Figure 2).1 At that point, the Fed also initiated quantitative easing and began ‘forward guidance’, making public its intention to keep interest rates low ‘for some time’. The ECB’s first reaction to the Great Recession was in July 2008, and it was to raise the policy rate (the main refinancing rate).2 After the Lehman bankruptcy in September 2008, the ECB joined an internationally coordinated rate reduction on 8 October. But then the ECB’s slow pace of rate cuts was interrupted by two more hikes—in April and July 2011. The policy rate was brought to near-zero only in November 2013; modest quantitative easing began in September 2014 and was expanded in January 2015.

Figure 2. Policy rates: The US Federal Reserve and the ECB

Our narrative tracks the stated policy intent, the stock market response following the announcement, and the immediate market commentary. To examine the stock market’s response to the announcement of interest rate cuts, we used an event-study methodology similar to that of Ait-Sahalia et al. (2012). First, the ‘abnormal difference’ was computed for each day following the announcement. This is measured as the change in the stock price minus the average daily change over the 20 days before the announcement (the presumption is that absent the announcement, stock prices would have continued to change at the same pace over the next five days). Adding up the daily abnormal differences, the cumulative abnormal difference shows the post-announcement divergence in the stock price movement from the trend in the preceding 20 days. The results are summarised in Figure 3.

Figure 3. Stock market reactions to the reduction of interest rates

Note: In computing the average ‘abnormal’ reaction between 2007 and 2009, we do not include the market reaction on 8 October 2008 because of high volatility in the days following. The results remain unchanged.

The stock market responded positively to the Fed’s rate cuts. In contrast, the market’s reaction to the slower-moving ECB was, on average, negative between 2007 and 2009 and also between 2011 and 2014. Consistent with our findings around the announcements, US stock indices moved ahead of those in the Eurozone, as seen in Figure 1. Moreover, as Figure 1 also shows, stock prices tracked relative differences in GDP performance, in line with Akerlof and Shiller’s (2009) view that improved investor sentiment helps stem the fall and begin the recovery.

Active stimulus

The anticipation of the announcements was not the primary influence on stock prices. In the US, the one unexpected announcement did trigger a strong response; but even the anticipated rate cuts were viewed favourably, especially if they were 50 basis points (0.5%) or larger. Researchers at the Chicago Fed find that anticipated policy actions have positive stimulative effects if they signal deviation from historical policy (D’Amico and King 2015, pp. 2-3). Thus, while formal ‘forward guidance’ came only on 16 December 2008, the actions up until then established a presumption that the Fed was pursuing a risk management approach and creating a safety net.3 Specifically, the larger rate cuts and accompanying statements signalled that the Fed was trying to ‘forestall’ financial turmoil from spiralling out of control.

In contrast, even the ECB’s larger rate cuts were seen as ‘too little, too late’. The ECB was reacting to news—building its shelter amidst a raging storm. ECB statements also mused endlessly about rising inflation and hence almost never promised more forthcoming action. The Bank of England was also late, but made up with quicker and much larger rate cuts, followed by quantitative easing.

It is true that the Fed has a clear dual mandate to support employment and maintain price stability. However, the central banks’ differing mandates were not the reason why they acted differently in the Great Recession. The ECB—despite its primary focus on price stability—had previously responded as if it had a dual mandate. Indeed, as Lars Svensson has pointed out, the ECB’s goal of medium-term price stability (over a two-year horizon) implied that it would not seek to bring inflation down instantly since attempting to do so would cause an unreasonable drop in output (Svensson 1999, pp. 83, 96, and 107). The result, Svensson argues, is that the ECB’s stated objective is indistinguishable from that of central banks with dual mandates, as studies have confirmed (Taylor 2010 and Nechio 2011).

Rather, as Alan Blinder pithily states, the Fed operated during the Great Recession on the ‘dark’ view that a huge loss of wealth could tip the economy into a free fall (Blinder 2013, p. 94). The priority was to prevent or manage that risk. Between 2007 and 2009, the Fed made the judgement that inflation risk was low and the main task was to prevent a downward output spiral. Later, the Fed used the same risk management approach to fend off the risk of price deflation.

By contrast, the ECB concluded that a temporary scare had caused banks to hoard cash and restrict lending to other banks (Blinder 2013, p. 94, Stark 2008). Thus, the ECB provided ample liquidity to banks, although no more so than the Fed. As the Fed understood, such passive provision of funds to banks was insufficient to induce banks to lend more and stimulate economic growth (Hetzel 2012). The loss of confidence and severe demand contraction required active monetary stimulus. The ECB insisted that foreign demand would ‘support ongoing growth’ in the Eurozone (e.g. Trichet and Papademos 2008).

The essential difference between the Fed and the ECB, therefore, boiled down to how each institution viewed the evolution of the economy. Even though inflation rates in the US and the Eurozone were nearly identical (Figure 4), the ECB overemphasised the risk of a commodity price-wage spiral and underestimated the financial and economic risks (Hetzel 2014). Market commentary repeatedly sent this message, as we document in our paper.

Figure 4. Headline inflation and core inflation for the US and Eurozone

Note: 12-month moving average of year-on-year inflation.

Forestalling deflation

The Fed transitioned to worrying about deflation risk as early as June 2010, even though inflation was rising in tandem with the European inflation rate (Figure 4) (Federal Reserve System 2010). The Fed’s main tools now were quantitative easing and forward guidance. As is well known, in this inglorious interlude, the ECB twice raised interest rates. But even past that point, the ECB continued to reject a risk-management approach and followed rather than anticipated the deceleration in inflation. Because it had delayed stimulus during 2007-9, the ECB needed more aggressive action rather than a continued wait-and-see approach. At a November 2013 press conference, a journalist described the ECB as a “pea-shooter dealing with an approaching deflationary tank”. ECB President Mario Draghi responded that the ECB was waiting for more data, and would do more “if needed” (Draghi 2013). Thus, the ECB acted asymmetrically: rising commodity prices were expected to feed persistent inflation, but falling commodity prices were expected to reverse course. Once again, markets and analysts reacted impatiently. Interest rate cuts were not enough. The question was why more aggressive ‘non-standard’ actions were not being taken.

Policy credibility

We conclude also that the Fed gained credibility even though it appeared to temporarily suspend its commitment to price stability. Bordo and Kydland (1995) have argued that setting aside a policy rule to deal with extraordinary contingency is consistent with a commitment to long-term goals. The Fed made clear its objective of preventing a meltdown and, as Blinder (2012) has emphasised, credibility principally requires that words be matched with deeds.

In the Eurozone, words were often a substitute for deeds. Markets and investors reacted to the tight monetary policy, which added to the economic drag and deflationary tendencies due to fiscal austerity and lingering banking problems. By mid-2009, Eurozone output had fallen behind that of the US, and it never caught up. Delays in stimulating economic recovery have permanent consequences, as recent analysis reaffirms (Fatas and Summers 2015). For all its rear-guard action, the ECB misread the Crisis and will be associated with the legacy of a weak recovery and more entrenched deflationary tendencies. If, as is entirely possible, the Eurozone’s core inflation rate remains below 1% a year, the ECB’s credibility will be twice hurt. Not only would it have failed to provide stimulus when needed, but it would have allowed the EZ to slip into a low inflation trap, well below its stated target of 2% a year.


Aït-Sahalia, Y, J Andritzky, A Jobst, S Nowak, and N Tamirisa (2012), “Market Response to Policy Initiatives during the Global Financial Crisis,” Journal of International Economics 87(1): 162-177.

Akerlof, G and R Shiller (2009), Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, Princeton: Princeton University Press.

Blinder, A (2012), “Central Bank Independence and Credibility During and After a Crisis,” Griswold Center for Economic Policy Studies Working Paper No. 229, September.

Blinder, A (2013), After the Music Stopped: the Financial Crisis, the Response, and the Work Ahead, New York: Penguin Press.

Bordo, M and F Kydland (1995), “The Gold Standard as a Rule: an Essay in Exploration,” 32: 423-64.

D’Amico, S and T King (2015), “What Does Anticipated Monetary Policy Do?” Federal Reserve Bank of Chicago, Working Paper 2015-10, November.

De Grauwe, P (2010), “Fighting the wrong enemy,”, 19 May.

Draghi, M (2013), “Introductory statement with Q&A,” European Central Bank, November 7.

Fatas, A and L Summers (2015), “The Permanent Effects of Fiscal Consolidations,” CEPR No. 10902, October 2015.

Federal Reserve System (2010), “Minutes of the Federal Open Market Committee,” June 22-23.

Hetzel, R (2012), The Great Recession: Market Failure or Policy Failure, Cambridge: Cambridge University Press.

Hetzel, R (2014), “Contractionary Monetary Policy Caused the Great Recession in the Eurozone: A New Keynesian Perspective” The Federal Reserve Bank of Richmond Working Paper Series, August 22.

Kang, D W, N Ligthart, and A Mody (2015), “The European Central Bank: Building a Shelter in a Storm,” Griswold Center for Economic Policy Studies Working Paper No. 248, Princeton University, December.

Mody, A (2015), “Living dangerously without a Fiscal Union,” Bruegel Working Paper 2015/03.  

Nechio, F (2011), “Monetary Policy When One Size Does Not Fit All,” Federal Reserve Bank of San Francisco Economic Letter, June 13.

Svensson, L (1999), “Monetary Policy Issues for the Eurosystem,” Carnegie-Rochester Conference Series on Public Policy 51: 79-136.

Taylor, J (2010), “Globalization and Monetary Policy: Mission Impossible,” In International Dimensions of Monetary Policy, University of Chicago Press: 609-624.

Trichet, J-C and L Papademos (2008), “Introductory statement with Q&A,” European Central Bank, February 7.

Woodford, M (2012), “Methods of Policy Accommodation at the Interest-Rate Lower Bound,” September 16.


1 The US Federal Funds rate determines the rate at which banks lend to each other.

2 The Eurozone’s main refinancing rate is the interest rate banks pay to borrow from the ECB. Normally, this rate also determines the euro overnight index average (EONIA), the rate at which banks lend to each other in the ‘unsecured’ market. But banks relied principally on the ECB for their funding through much of the Crisis; the limited lending in the banks’ unsecured market was a substitute to depositing money at the ECB (ECB 2010 and 2015b).

3 See Woodford (2012) on the distinction between policy response to news and a change in the policy.

Topics:  Global crisis

Tags:  Great Recession, Fed, eurozone, Eurozone crisis, EZ reforms

          Honolulu Hawaii Reason #196 Why Financially Supporting the International "Share Parents of Utah" Charity ( is Indebted and Welcomed   

Honolulu, HI -- (SBWIRE) -- 06/30/2017 -- Share Pregnancy and Infant Loss Support, Inc. has been helping bereaved parents since 1977.  Share is dedicated to supporting parents and families throughout the United States, as well as internationally.  Share Parents of Utah was established in 1983 and supports the Salt Lake area.  We understand. We care. We can help.  Many parents find that it helps to talk with another parent who has experienced the loss of a baby – someone who can listen, understand, and be able to identify with some of their feelings.  Just knowing that your experience is valid and that you are not alone can be very beneficial in working through your grief.  Anyone who has lost a baby to miscarriage, ectopic pregnancy, stillbirth, newborn death, and SIDS is welcome to attend a Support Meeting, as well as any support people you would like to have attend.

Contact:  Share Parents of Utah
Melannie Green, President
(801) 272-5355

Honolulu Hawaii Reason #196 Why Financially Supporting the International "Share Parents of Utah" Charity ( is Indebted and Welcomed

Share Pregnancy and Infant Loss Support, Inc. understands.  Share Pregnancy and Infant Loss Support, Inc. care's.  They can help.  Many parents find that it helps to talk with another parent who has experienced the loss of a baby – someone who can listen, understand, and be able to identify with some of their feelings.  Talking with others who have suffered a pregnancy loss is very helpful.  Anyone who has lost a baby through miscarriage, ectopic pregnancy, stillbirth, or newborn-death is welcome to call Share Parents of Utah and/or attend support group meetings.   Just knowing that ones experience is valid and that they are not alone can be very beneficial in working through grief.

Due to the nature of topics discussed, Share Parents request that only adults attend the meetings.  If one is not certain they are ready to attend a meeting, please contact Share Parents of Utah or get on their mailing list to be reminded about upcoming meetings.  Join Share Parents of Utah at their monthly support group meetings and connect with other parents who have suffered a similar loss. 

Find Share Parents of Utah on Facebook here:

Share Parents of Utah's mission is to serve those touched by the death of a baby through pregnancy loss, stillbirth, or in the first few months of life. Their purpose is to provide support toward healing at the time of or following the death of a baby. Share Parents of Utah provide's education and resources on the needs and rights of bereaved parents and siblings. They strive to set a standard of perinatal bereavement care through a lifetime of support, hope and healing-one family at a time.

About Share Pregnancy and Infant Loss Support, Inc.
Share Pregnancy and Infant Loss Support, Inc. has been helping bereaved parents since 1977. Share is dedicated to supporting parents and families throughout the United States, as well as internationally. Share Parents of Utah was established in 1983 and supports the Salt Lake area.

For more information on this press release visit:

Media Relations Contact

Adam Green
Share Parents of Utah
Telephone: 801-809-7766
Email: Click to Email Adam Green

          Comment on We Still Celebrate Independence Day at Church (by Dean Stewart) by Jim Perry   
Hey Dave Miller Todd Benkert Brent Hobbs, this started as a comment on the post about patriotic services, but grew so long in the telling that it seemed less appropriate as such. Would it pass muster as a regular piece on the blog as the other side of the argument? ####### I was a worship leader on staff at a church the last two years. I have seen two 4th's of July come and go, and I never did even one patriotic song. Pastor mentioned it and maybe preached on how to live as Christians in this country, but we didn't do patriotic stuff, and in fact, I never heard a complaint for not doing it. And we're in the middle of Indiana, which is hardly any less patriotic than anyone else. I have said in the past, perhaps glibly, "I'm here to worship God, not America." That's how I see it, personally. But there is so much to deal with on this issue, and it really is a matter of the conscience, certainly not a salvation issue, or perhaps not even a right or wrong issue, though I suppose we only come to positions we believe are right and correct. I don't hate anyone who thinks differently, and I don't get angry over it. But here, perhaps, is a suitable explanation of my perspective. The first principle is that it is incumbent upon those of us in leadership to aim for the higher ideal, closer to the heart of God, and lead our people there. With regard to the "meat sacrificed to idols" topic, much is made of the "brother with the weaker conscience," but wherein is the strengthening of that conscience? If it is permissible to eat that meat, but we abstain from doing it in front of the weaker brother, are we not to educate said brother and strengthen him so that he agrees with the Lord, "Why call unclean what I have made unclean?" I don't believe the Apostle was advocating for leaving said brother in his "weaker" state. We absolutely have to analyze why we think the way we think, in all areas. To find the roots of our sentiments and judge them valid or invalid. First is an appreciation for the undertaking that won us our liberty from Great Britain. I love the Revolutionary War period of history. I will gobble that stuff up. Every 4th of July I make my kids sit down and watch The Patriot, with John Williams' beautiful score (my son's named after the guy), and that overwhelming sense of national pride. This and the founding documents are essential to understanding how and why we became who we are as Americans, and Who through His divine Providence made us free. Second is our contemporary sentiments regarding this country, which are largely generational. We are nearing the time when the veterans of World War II will no longer be among us. It was the last war that I believe we fought on entirely just grounds (save for the first Gulf War, which really was no war, but a brief armed incursion to remove Saddam Hussein from Kuwait). Many thousands of people died to liberate the European continent and the Pacific theater from near global tyranny. The industry of war finally brought us out of the Depression (which FDR had unnecessarily perpetuated with his disastrous economic policies). It brought us together as a nation for a common purpose. It made us proud to be Americans. We were the good guys for real. We did something really GOOD, and that was something to celebrate. The World War II generation may be nearly lost to us, but their children remain. They were raised in a country steeped in this good patriotism. My Grandfather was of the World War II generation, and several of you are Boomers, so we are not so far removed from that time we did something truly good. We know and believe what we are taught, and we naturally gravitate toward the familiar. So it is with no great burden that we dutifully recite the Pledge of Allegiance, we stand for the National Anthem with our hands on our hearts, we vote because we believe we should, and we say our troops our "defending our freedom." However, I am reminded of a couple things from Eisenhower's farewell address. Who better to draw from than a man who embraced, and served with distinction in, all spheres of his life? The first is this: "In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together." We have been so very fortunate that those at the head of the "military-industrial complex" have not sought misplaced power. Our military brass have respected the chain of command, and I agree that all who have served deserve our honor and respect. The problem is that there has been a "disastrous rise of misplaced power" in our politicians, and all our Presidents since Eisenhower have been looking, in one form or another, for that next great military victory that all Americans can again be unified in celebrating. Trust me when I say that I am not being glib in asking this question, and it is not a reflection on our troops or their commanders, but rather the bureaucrats who command them. Are they really sent to defend our freedom? Were they defending *our* freedom when they were sent to Vietnam, Grenada, Kosovo, Iraq or Somalia? Our military has been sent into action after questionable action, without Constitutionally appropriate declarations of war from Congress, and then when they are sent in, the execution of the action so often becomes subject to political calculation and partisan whim. We all know too well the sins of Vietnam. I now fear my children desiring to serve in the military, and would counsel them against it. I didn't always feel this way. The second Eisenhower quote is this: "As we peer into society's future, we -- you and I, and our government -- must avoid the impulse to live only for today, plundering for our own ease and convenience the precious resources of tomorrow. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow." Sadly, the World War II generation gave us a great tragedy along with a great victory. That tragedy was the vast behemoth of FDR's government, which threw out the window every great thing that President Coolidge achieved (or left alone) when he vastly reduced the size, scope and budget of the Federal Government. That World War II generation, and now the Boomers, are beginning to rely on a government program that has itself become insolvent, and may in fact become a "phantom" tomorrow. With the national debt now having increased 800% (!!!!!) since 1980, vastly out-gaining inflation of just over 212%, our government has truly mortgaged the material assets of our grandchildren. By allowing Marxist Socialism into our government and allowing the Federal Government to exceed its Constitutional bounds, we have lost our political heritage. And who would be culpable in a nation that has lost its spiritual heritage? Perhaps the American Church which has largely worshiped our "Christian" Nation? Examine your own hearts in this regard. How many times to we misappropriate 2 Chronicles 7:14 for America? This is not a promise from the Lord to heal our land, but Israel. And under the New Covenant we are spiritually grafted into Israel, which is a *spiritual* Israel. Psalm 81:13 says, "If only my people would listen to me and Israel would follow my ways." God is not going to heal America, no matter how much we ask him. He is interested in the hearts of men and women, and he judged harshly the nations whose god was themselves. So when you raise up America in the focal place where God is worshiped, how can he be pleased? This is what bothers me about Awana or RA’s/GA’s (if anyone does that still). We teach kids not only to do the Pledge of Allegiance–which, secularly speaking, is good insofar as we do not seek to undermine the country whose benefits we enjoy–but then a made-up pledge to the Bible, which the Lord doesn’t command we do, and a made-up pledge for a made-up “Christian” flag, which to me, raising a flag for Jesus that Jesus didn’t institute is an abomination. It's an offensive trivialization of the Faith. We lift up the Savior, not a flag. Yes, we ought to be grateful that God gave us this country to live in, where our ancestors settled to be free to worship as they saw fit. Yes we have been blessed by God, but we have taken that blessing and grown fat and lazy. We have "done evil in the sight of the Lord," and not just "those sinners" who practice abortion and homosexuality, but also "us Christians" who gossip, covet, hate and worship idols. None of this should be taken as hatred for America, but rather we all ought to cultivate a healthy sense of ambivalence to it. And I mean 'healthy.' We have liberties and we should *use* them, even as many of them are slowly eroded away. We must participate in the electoral process, but always demanding the best of our politicians. We should lobby our government for "redress of grievances" as is appropriate. We should not speak evil of her but speak truthfully about the evils within her, and most especially in our own house. We should recognize the erosion of civility with the increase in partisanship and become less partisan ourselves because Jesus is our King, and His is our Kingdom. With the celebration of our founding comes lament in that we have allowed this country to fall so far from it. In conclusion, I do not feel patriotic observances are wrong. It is not sinful to honor the people who have served in our military. Have the picnics. Have the fireworks. Sing the songs, honor those who died in service to another, and celebrate the founding of "the last best hope of man on earth." But consider carefully whether it ought to take the place of our singing to the Lord, and singing of him only, and preaching of his Word rather than overlaying it with a flag. To present this as a function of our worship service is wrong, in my view. It is not hope on earth we are trying to secure, but hope in the life to come.
          High income, low credit score & Overwhelmed   
We're first time homebuyers. Our combined income is a little more than $130k/yr, however, I'm pulling our credit score down with a middle score of 629 (but doing a couple things to boast that rather quickly). Can we still qualify for a mortgage? The area we live in prices us out of using an FHA loan, so we need a conventional option with a lower down payment. What options are out there? Is the 97% LTV through Fannie Mae a possibility? Anyone familiar with that? 

We currently spend $1650 to rent and it just doesn't make sense any more. We have low debts and could comfortably pay $2000-2200 per month for a mortgage. How much house can we afford (approximately)? 

This entire process is so overwhelming. Any input is truly appreciated. 

8 replies
          Comment on New Mexican Disaster Squad by Orlando punks Debt Neglector announce debut album, stream first single - PUNX.UK   
[…] new punk band hailing from my home state, sunny Florida. Most notably, their lineup features former New Mexican Disaster Squad bassist Alex Goldfarb. The band’s debut album Atomicland releases August 18th through […]
          Comment on Debt Neglector by Orlando punks Debt Neglector announce debut album, stream first single - PUNX.UK   
[…] you’ve never heard of Debt Neglector, now’s the time to check them out. They’re a relatively new punk band hailing from my […]
          Santorum or Paul ?   

I (and dozens of other folks) received a political endorsement from a very nice, well-meaning woman from my traditional Mass group this week. She was excited that Rick Santorum was talking publicly about the problem of birth control, and she asked us all to support someone who “shared our values.” Her Santorum plea intrigued me—I haven’t seen a faithful Catholic run for highest office, except for Buchannan, who was in a way “before my time”—but I’m still not in Santorum’s camp, to say the least. The Ron Paul sticker is still on my car.

Anyways, I spent a couple of hours crafting a response to her endorsement. I haven’t “stretched my polemical legs” in quite a while, so I’m grateful she gave me the opportunity and the inspiration. Since I was moderately satisfied with how my response turned out, I’m converting it to a blog post. Here goes:

Santorum's personal rejection of contraception is admirable, of course, and it's somewhat in contradiction to...say...Ron Paul, who--as an obstetrician in the 70s and 80s--presumably prescribed contraceptives and performed sterilizations. I'm making that assumption because he's a Protestant, and if he hadn't wrote scrips for the pill, NARAL and Planned Parenthood would surely have found out and painted him as an extremist by now.

But I don't think Santorum's personal position on contraception...even in contrast to someone like Paul who must have personally promoted it (whether he knew better or not) enough to compel my vote. Why not? Obviously, someone like Ron Paul isn’t consistently pro-life. But at the most basic level, Santorum isn't consistently "pro-life" either. Santorum’s "pro-life" personal views didn't get in the way of his politics when it would have mattered most: his support of Arlen Specter in the Pennsylvania Senate primary a few years ago. When Santorum could have backed another pro-lifer, Pat Toomey, and tipped the scales, he didn't. Instead, he supported Specter, who was NOT ONLY a pro-abort who controlled the Senate Judiciary Committee (where the best pro-life judicial nominees need not apply, even in the GOP's best days), but was also a turncoat who switched to the Democratic party a couple years later. Every observer I've read agrees that if Santorum had stuck to principle and stumped for Toomey, Toomey would have won (instead of lost by 1.7%), we'd have had a better Judiciary Committee, hence better federal judges, and the Dems wouldn't have had a filibuster-proof majority in the next go-round. (BTW, Toomey did beat Specter the next time and go to the senate after Santorum lost his own seat to a Democrat!)

And really, the issue of outlawing contraception in national doesn't simply matter, and Santorum won’t pursue it. I'm not saying that it shouldn't matter. It should, but it doesn't. Maybe some day it will at least matter at the state level. It's like nationally outlawing all pornography or buggery or usury or no-fault divorce. They are all admirable goals but candidly, they are not achievable on a national level at our present time and place. Although the link between abortion and all that bad stuff I mentioned above is obvious to us traditional Catholics, most non-Catholics (and heck, perhaps most novus ordo Catholics) aren't intellectually or spiritually equipped to deal with the link right now. We laymen should work one-on-one to convert people away from contraception, and our Bishops and priests should preach against it. However, too much public talk of outlawing contraception by a national political candidate at the present moment will be counterproductive. It will be exploited by his pro-abort enemies and slow down all our efforts to stop the greatest and "most fixable" of these evils...abortion. On this issue, we will only succeed if we tackle only one thing at a time.

The lady said Santorum “shares our values.” Well, leaving the pro-life issue and moving on to look at Santorum's other values? I honestly can't say they're the same as mine:

FIRST Santorum's an interventionist, looking to keep a huge United States military presence throughout the world--running up more debt, getting more American boys killed, and making more foreign enemies. For Santorum, patriotism is about geopolitical power. For me? Nope, patriotism is about loving ones’ land for what it is, not loving one’s government for the power it can project over other governments. Patriotism for me doesn't include going from one undeclared war to another….especially when the next one will be against a huge, prosperous country with a large, well-organized and educated populace that can really fight back—i.e., Iran. Nor does it involve the same bankrupting globalist busybody strategy as that other recently-collapsed empire: Great Britain.

SECOND, Santorum loves Israel--a state and a society which is absolutely hostile to the Church, and which is the very cause of that the "Islamo-Fascism" that Sean Hannity and Billy O’Reilly and the other neoconservative blowhards denounce. I, on the other hand, recognize that Israel is not a reliable ally, and that Moslems don't hate us for our freedom--they hate us because guys like Santorum vote to send Israel the guns and tanks and planes (and bombs marked "Made in the USA") that are used to kill their co-religionists, or if they’re lucky, merely expel them from their ancestral homes and leave them fenced in and starving.

THIRD, Santorum also believes in centralization of government, for example, federalizing education and doubling the number of education bureaucrats (99% of whom probably hate homeschooling). I adhere to the Catholic principle of subsidiarity--that is, the exercise of power by the lowest level capable of doing so (the family, the local church, the community, the state, and only where absolutely necessary, by the feds).

FOURTH, Santorum loves the police state, having voted for all sorts of restrictions on our ability to travel and communicate, and all sorts of new mechanisms for monitoring the daily activities of people in the United States. I value freedom of movement and (in my 30 or 40 flights a year) recognize that the TSA goons, the humiliating porn scanners, and the other monitoring of our activities don't keep us "secure"--they are simply part of a subtle retraining US residents to be sheepish and compliant subjects of the totalitarian state.

Neoconservatives like Rick Santorum and Newt Gingrich love the general growth in government as much as "moderates" like Mitt Romney and liberals like Hillary Clinton and Barry Obama. While their rhetoric is couched slightly differently, all of them want more government, more federal intrusion on our daily life, more perks for their friends (be they Obama's Chicago Daly Machine wonks or Mitt's Goldman Sachs pals or Santorum's military contractor donors or Newt's insurance company lobbying clients). Santorum won't make it easier for the Church to pursue its mission. He won't make it easier for faithful Catholics to raise holy families. He won't make it easier for our boys to find good jobs. He won't create the conditions necessary to rebuild Christian culture in the United States. And of course, he won't outlaw contraception. He has so many "backs to scratch" that he probably won't even get around to nominating judges that will unwind the nonsensical web of Constitutional "privacy" jurisprudence that prevents states from regulating contraception, prohibiting abortion, and discouraging buggery.

A friend of mine who’s since moved out of state—a very well-formed guy--once recommended Frank Sheed's book, Society and Sanity. Sheed is on solid Catholic ground, and he's an eloquent apologist. One of the central points of the book is a consideration of Christ's answer to the Pharisees, "Give to Caesar what is Caesar's...." He approaches modern politics (circa 1960, I think) in the form of two questions about government which should be distinct in everyone's mind, but which are often muddled...they are paraphrased by me as "Who gets to be Caesar?" and "What things are Caesar's?" which I'll further rephrase as "How far does Caesar's authority extend?" My friend also pointed me to where St. Thomas Aquinas addresses the same issues, but I found Sheed to be much more accessible.

So here we are in 2012: this is an election which should be more about the second question than it is the first. All but one of the candidates is focused entirely on the first question. They all want me to believe that if they're Caesar, I can trust them because they share my values, and they can do more for me, and they can do it better. The organs of the federal government will be more efficient and stronger, but they’ll serve my interests. Only one of the candidates has anything substantive to say about that second question, and only one wants you to think about the limits of Caesar's reach. And unfortunately, it ain't Catholic Rick Santorum. It's Protestant Ron Paul.

In a field of imperfect candidates (all either statists or liberals), Ron Paul not only opposes abortion, but he is the one who is the most likely to REALLY give new momentum to the life movement (perhaps more momentum than he himself intends). He'll install judges who read the Constitution as it is (imperfect though it may be) and throw out the reasoning in cases like Roe and Doe and even Carpenter (the case that invented the "right to privacy" that prevented states from regulating contraceptives) and Lawrence (the case that prevents states from outlawing buggery). He’s not touting a huge program of federal prohibitions in their place like some pro-life lobbyists want, but really, such a prohibition is a pipe dream. Returning the life issues to the states (where the battle can be fought and won at least in most places over time) is really the best we can hope for—and the best we should hope for. The several states, after all, are where the plenary power to punish offenses against life and property properly rest.

Also, even though Paul's economic positions aren't perfect, there isn't a Rerum Novarum candidate to compare him to. His Austrian economic theory (BTW, at least he can speak intelligently about economics--the other candidates can't) is a much more sound basis for economic policy than Obama's soft socialism or Romney's Goldman Sachs TARP capitalism or Santorum's military industrial cronyism. In the absence of a candidate with a workable Distributivist program (if there is such a thing), quoting or at least plagiarizing Hillaire Belloc, Pope Leo XIII, and GK Chesterton, Paul's the one candidate who will at least redirect the country in a general direction that could ultimately be refined to a Catholic economic order.

As for militarism and interventionism—Paul’s obviously not a jingo. And as for subsidiarity--that big question about the scope of Caesar's authority--it's clear that a Ron Paul administration will have a smaller federal government--leaving more room in our society for families, the Church, communities, and states to operate and seek the Good on their own. I don't think anyone would argue that point.

The restoration (or rather reformation) of American culture on sound Catholic principles won't be easy. Barring a huge cataclysm, it won't happen in my lifetime. But whenever and however it happens (if it happens at all), it can only come back if we clear away the choking roots of our out-of-control, anti-Catholic, antagonistic federal government, and leave some open ground for the shoots of a civil society where Catholic principles to grow and flourish. A Catholic Humanae Vitae candidate (or…for the pre-Vatican II crowd…a Casti Conubii candidate) who otherwise promises more central government control of society, more war, and more spending, isn't going to do that. But a Protestant obstetrician will do it, even if he may not really appreciated what he was doing with his prescription pad a few decades ago. Ultimately Ron Paul is not the best possible candidate, but this is a multiple-choice test, not fill-in-the-blank.

As I said before, the question is "Who understands what things are really Caesar's?" In each case, Ron Paul is the answer that comes closest to the correct one.

          Latest Salvo in Passive War: Stock-Bond Correlations Are Gone   
Analysts at Sanford C. Bernstein & Co. warn investors that the two-decade negative correlation between equities and debt is starting to unravel.
          Reduce Credit Card Debt by 60 Percent and Wipe Away the Pain and the Stress You Have   
Having to reduce credit card debt can be a big problem for many people. The perils of credit card debt can seep into someone's life and steal the very essence of existence that they have. The sleepless nights and the frightening phone calls asking for more money than you have is enough to give anyone an ulcer.
          Negotiate Credit Card Debt and Wipe Away 54-60% of Your Debt   
Your ability to decrease your credit card debt will affect the way you live life. Having a life that is able to be set free from the horrors of debt is something that every American would like, whether they admit it or not. Debt is difficult and it is no fun being there.
          Getting Rid of Your Credit Card Debt Once and For All   
Bankruptcy is available as the last solution. When you have bad debt, it is best to work from the bottom up. Find offers and contact companies that can help you get out of your situation as fast as possible. The faster your debt is gone, the better you will feel. Sometimes credit card companies have debt reduction plans that can help you get back on your feet, but during this time, you will need to pay a higher interest rate.
          Discover How You Can Get Help With Your Credit Card Debt When Bankruptcy is Not an Option   
If you feel like you are forced to make a decision to file bankruptcy, then you need to read this article. Do you need help with your credit card debt? Is bankruptcy a real option for you?
          Op-Ed: Why Puerto Rico Oversight Board Said No to an Electric Company Debt Restructuring That Went Easy on Creditors   
Wall Street Journal:   In July 2016, Puerto Rico defaulted on its more than $70 billion of debt, putting at risk those liabilities as well as more than $50 billion in public pension obligations. Just before the default, Congress had enacted the Puerto Rico Oversight, Management and Economic Stability Act, or Promesa, which established the […]
          How to avoid the Christmas debt trap   
East Coast Radio — Whatever you do this Christmas period, don't buy yourself more debt, warns Wendy. Listen here...
          Most LIBN readers exit college with debt   
Recent LIBN poll shows most graduate with college debt, with many paying loans back for more than 10 years. 
          "It is possible to pay another man's debts on his behalf, but it is not possible to make a guilty man innocent by suffering in his place" - Carl Lofmark   
"It is possible to pay another man's debts on his behalf, but it is not possible to make a guilty man innocent by suffering in his place" - Carl Lofmark
          Avoid These Financing Mistakes That Kill Business Valuations   
Eliminating bad debt will make your company so much more attractive for sale.
          IWA Portfolio Manager - IBERIABANK - New Orleans, LA   
The incumbent will possess the knowledge, desire and evolving capability to analyze and at times manage investment portfolios consisting of corporate debt,
From IBERIABANK - Wed, 21 Jun 2017 01:08:23 GMT - View all New Orleans, LA jobs
          Orange County pays off $1-billion bankruptcy debt   

Orange County has paid off the last of $1 billion worth of bonds it raised to haul itself out of bankruptcy.

The Orange County Register says, after 22 years, the county on Saturday delivered the final payment to bondholders.

With interest, the repayment totaled about $1.6 billion.

The county still...

          Friday Philosophy – “Technical Debt” is a Poor Term. Try “Technical Burden”?   

Recently my friend Sabine Heimsath asked a few of us native English speakers what the opposite of “technical debt” was. My immediate reaction was to say:

I’d say (sarcastically) “proper development” or “decent designer” or even “what we did 25 bloody years ago when we were allowed to take pride in the software we created!”


          Debt-hit RCom seeks to give up Rs 340 crore worth spectrum   
The move, if allowed by the government, will also enable the debt-laden company to escape paying the instalments towards the purchase of spectrum that it now wants to surrender.
          World’s debt now over three times greater than economic output   
"The IIF, one of the most authoritative trackers of capital flows, said in a note late on Tuesday that global debt amounted to 327% of the world's annual economic output (GDP) by the first quarter of 2017..."
          Strict rules for credit rating firms   
Sebi has tightened the norms for credit rating agencies (CRAs), asking them to monitor the financial health, including share price movement, of companies to provide timely and accurate ratings on their debts.
          Seven Trees of Stone: Thirteen Days of Midnight Trilogy Book 3   
Seven Trees of Stone: Thirteen Days of Midnight Trilogy Book 3
author: Leo Hunt
name: Betty
average rating: 3.75
book published: 2017
rating: 5
read at: 2017/06/29
date added: 2017/06/30
shelves: fantasy, adventure, advance-reading-copy, final, trilogy, teens, ya, action, ancient-texts, demons, horror
Please keep in mind that this review is written from an Advance Reading Copy and is not the final product.

A fantasy and an incredible adventure for teens and young adults (as well as this grandmother!)
A couple of young college students are about to witness an extremely unusual event. Will they survive it? First there were the White Swans, hundreds, thousands or more, where did they all come from and what are they trying to do? Not only that but later, where did they go? Very peculiar, at some point they all just disappeared again flying backwards. I love this story already.

This adventurous race against time in the dead of winter is not only hazardous, it is probably even deadly. Who or what is Mr. Berkeley? What debt does Luke owe him and just how dangerous is he or it?

This New Years Eve promises to be the strangest ever, and perhaps the most dangerous. Luke and his friend Elza notice something very weird, fog that is creeping and moving; what is it made of and what is creating its movement? An odd thing in the sky appears to be green flashes, sometimes blue (is that lightning?) Luke and Elza who attend a different college in a new town are desperately trying to get to Dunbarrow to Elza's house where she has bound it with a hazel safety barrier.

It is New Years Eve and everyone is celebrating in the town centre of Dunbarrow. But not all of the celebrating seems right. In fact, they seem to be overtaken by such riotous cheer as to appear to be suffering a plague of insanity! Will New Years Day last forever? Is this the end of Dunbarrow? Not everyone seems affected though, Luke and Elza have just met up with old college friends who don't seem so much crazed, but more nervous and scared, and decide to go with them to Elza's house.

This book is the final novel in the trilogy. The trilogy itself is Thirteen Days of Midnight (Thirteen Days of Midnight#1) began when Luke was just starting college. The second is Eight Rivers of Shadow (Thirteen Days of Midnight #2) and from what I've seen in the final book is a fantastic adventure of twists and turns. This review is based on the final book, almost done, just waiting for the final polishing before publication. If you enjoyed this review, be prepared for the release 7 Trees of Stone in August 2017. From my perspective it will be worth the wait. In the meantime, the first two books are already released, and ready to join the reader for the beginning of the adventure.

I really enjoyed this book, wish I had read the first two in the trilogy, but unfortunately didn't see either one. It would have made this one fantastically exciting.

          get out of debt quickly now   

In case you want to break free from your debts fast, then take a pledge to have a closer look at your finances. Getting out of debt and changing the way you manage things with regards to your financial issues greatly requires strong perseverance. If you can change your perspective and realize that it is a time-consuming process to bring about long-lasting lifestyle modifications, then the process becomes simpler.

One sure shot way to get out of debts is to have a re-look at the way you spend money, and the reason you have got yourself in this situation is you spend more than you earn. Since an immediate action towards altering your spending patterns is a must, you should be able to determine whether you are spending on things which you don't significantly need and how much you spend for it such as dining out, watching movies, unnecessary clothing and other things that is only concerned of entertaining. If you can completely do away with such expenditure, you could come out of your debt situation quickly.

Spending money on things, which are superfluous, is spending money like a fool. It may appear that you have a lot of money, but such expenses are making you a pauper. Money management is critically important if you want to make your life debt-free as fast as possible.

Bear in mind the second essential part that can help you get out of debt in a quick time which is the paying of your debts in a regular and timely manner. When you are late on payments to your credit cards, or you miss them entirely, you are costing yourself money. The additional interest charges and late fees you receive will add up, leading to over limit charges and even more debt. Your credit card usage should reduce substantially and you must start to pay more than the minimum amount due.

The two critical steps for fast reduction of debts are easy to apprehend, but difficult to implement. Changing a habit of any type is hard and the way you spend your money plus what you pay off your credit cards are habits, just like smoking cigarettes or overeating. Keeping a strong mindset and focus in your goals added with your leniency by letting time adjust yourself towards certain changes that you need to undergo are just what you need to effectively survive the thought of modifying your habits or lifestyles. The most important thing when you want to get out of a debt situation is to have a plan and stick to it, no matter what happens. The changes you make now will have a big impact on your financial future.

          emergency debt relief sos   

One of the biggest problems to face the civilized world currently is debt, It is now possible for special finance companies to arrange an emergency debt relief loan which combines all outstanding loans into one with a lower monthly repayment. These companies will actually do more than just lend the money as they will also act on your behalf to ensure the loans are repaid and as options go they make a great deal of sense considering how volatile interest rates can be.

The most important thing is to deal with this problem quickly otherwise it could lead to a situation where only bankruptcy remains as an option. It is generally known that people who seek the help of an emergency debt relief program are those who have very high credit debt and most likely overspend well beyond their means. However, it may be a situation where the debts have become unmanageable because of increasing interest rates or a job loss perhaps.

The agencies that help arrange emergency debt relief can often negotiate on the behalf of the debtor to try and reduce the amount they owe. There are also programs to help educate people about managing finances which can be arranged through these agencies in the hope that this type of situation will not be repeated. Payment terms, settlements and other issues are often negotiated on behalf of the debtor with the lenders in question to ensure the continued payment of the loans but at a more realistic level to save the person defaulting.

These also help people to organize their finances better but there is no need to worry about any leakage of information as state laws do not permit any company to divulge personal information. Becoming debt free does not come easy but if a person follows the proper procedure and works at the emergency debt relief program then they should become free of money problems within a few short years. then start paying for everything with cash because you will soon learn to budget your expenses.

By carefully scrutinizing monthly expenditure it is possible to see where savings can be made, then additional amounts can be paid off the credit cards and by doing this every month an earlier payback is guaranteed,but be sure to pay the bills in a timely manner as it's a good habit to pay them before they are due. Many people now have a number of credit cards but only one is really needed so if this is your situation and you have four credit cards cancel three and keep the one with the lowest interest rate, It could take up to five years to repay your debts which obviously depend on individual circumstances but think how good you will feel hen this finally happens!

          Debt levels cast shadow on the West   
AROUND the globe, the inability of governments and households to reduce their debt continues to cast a shadow over Western economies.
          EU has 'limited options' for Greece   
AXEL Weber says Europe needs to consider guaranteeing all Greece's outstanding debt because the only viable alternative is a messy default.
          French plan for Greek debt   
FRENCH banks have proposed a plan to reinvest half the proceeds from maturing Greek government bonds, as part of a new bailout for Greece.
          Honest Financing Service   
Dear Sir / Madam, Affordable Interest Rate Loan offer your need. Have you been rejected by many banks? Do you need financing for debt consolidation? Do you have any plans? We are here to help you finally find a solution. Do you need funding to help your business get back on track? So, I offer loans to interested customers between (5000 to 1,000,000 €) at low interest rate of (2%).
          Loan offer between serious and honest individual   
Hello Are you looking for funding to relaunch your activities, carrying out a project, where your debts are you need money for other reasons but alas the bank is asking you conditions you are unable to fulfill . More concerns to do this, I grant loans ranging from 5000 € to 20 000 000 € to any person or companies capable of meeting its commitments. I am available to satisfy my clients within a maximum of 3 days following receipt of your application form. If you are interested, please contact me
          VIFF Day 7: Swedish Bullies and Francophone Sperm Donors   
Starbuck directed by Ken Scott (Quebec) Starbuck is quite different from 99% of the comedies that come out from Quebec these days, in that it’s taken the unusual step of actually being funny. It’s the story of David Wozniak, a loveable, debt-ridden loser that discovers that a series of visits to the sperm bank 20 […]
          Reply by Anonymous Coward (UID 32517609)   
Why are most people on government assistance obese? With the US government 16 trillion in debt, do you guys really need to be paying for her muffin addiction. It might be time for the US to tighten your belt a little and maybe lose a little fat in the process. You guys are literally paying for...
          The Importance of Self-Care   


massage massage therapy practicing good self care health wellness healthy habits healthy lifestyle

The stores are awash in seas of pinks and reds.  Commercials and ads are imploring you to think of ways that you can show your loved ones how you feel about them.  Should it be flowers?  Candy?  Heart-shaped pizza and doughnuts?  There is no shortage of “helpful” suggestions for how to commemorate Valentine’s Day. 


Can we add one more suggestion for your Valentine’s Day?  What about showing yourself some love?  What – you weren’t on your short list of Valentine recipients? 


Perhaps you feel guilty taking time for yourself.  Or you feel like you’re too busy.  Or you feel like you’re being greedy or selfish by practicing healthy self-care.  Au contraire, my friend. 


  • Self-care helps you process stress in a healthier way.  Life can be stressful – there’s no way around it.  Taking proper care of yourself helps your stress to not get the best of you.
  • Self-care helps you to step away and refocus.  When you get out of survival mode, even for an hour or two, it can help you to reprioritize and enjoy a renewed focus on what’s important.
  • When you love and care for your body, it will love you back. 
  •  Self-care helps you avoid debt.  An energy debt, that is.  Your energy and passion are among your most valuable assets.  When those are depleted, you’ve got nothing left to help you enjoy your favorite things, your favorite people, and the things that make you YOU. 


Taking care of yourself physically, mentally, and emotionally is not only NOT selfish, it helps to ensure that you can live up to your potential.   Don’t you want to be the very best employee, spouse, friend, parent, sibling, and volunteer that you can be?   Basically, taking care of yourself allows you to be able to take care of others in a healthy and effective way.  The flight attendants have it right when they instruct fliers to take care of their own oxygen mask before helping someone else.  If you’re toast, then you’re useless when it comes to aiding someone else.


Massage happens to be an ideal component for healthy self-care.  Not only does it feel great, but it helps to care for many aspects of your wellness.  Getting a massage on a regular basis improves your immune system, reduces stress, improves sleep, and helps ward off depression.  On that note, have you gotten to experience the new and improved YOUtopia at Elements?  At Elements, we strive to make your massage a healing experience that is just right for YOU.  Your body, your massage preferences, and your wellness are unique to you.  That’s why we feel that your massage should be unique, too.  As a valued member of our YOUtopia program, your massage will be catered to your needs by your massage therapist.  After all – you spend a lot of energy and time making sure the needs of others are met.  Why not let someone worry about you for a change?  Talk about a lovely YOUtopian experience! 

          Orange County pays off $1-billion bankruptcy debt   

Orange County has paid off the last of $1 billion worth of bonds it raised to haul itself out of bankruptcy.

The Orange County Register says, after 22 years, the county on Saturday delivered the final payment to bondholders.

With interest, the repayment totaled about $1.6 billion.

The county still...

          Celebrate the Fourth of July by Declaring Your Personal Independence   

The Fourth of July is all about barbecues, patriotic parades, fireworks and summertime camping trips.  But the true purpose of this national holiday is about more than just grilling hot dogs and lighting the sky with bright, shining sparklers. This week’s national patriotic holiday signifies our country’s journey toward becoming an independent nation and cutting ties from Great Britain.

In honor of our Founding Fathers' efforts to bring our country independence and freedom, make this year’s Fourth of July celebrations personal by taking the first steps toward declaring your personal independence from negative influences. To help you establish true authenticity, independence and freedom this summer, let the following three tips guide you through your journey.

Focus Your Feelings and Actions on What Is Important to You
Happiness is a choice. And while it isn’t always an easy choice to make, it is ultimately up to you and what you decide to invest your energy in. To truly experience happiness, it is important to break free from the feelings, people and habits that may be holding you back in life. One of the biggest feelings weighing down Americans today is stress.

“Stress is very powerful and can affect your mind and body in negative ways,” said Silvia Mariani, massage therapist at Elements Greenville. “Today, a lot of people are under stress that they put on themselves. Too many people spread themselves too thin, try to do too much and expect too much from themselves.”

Instead of running your mind and body ragged by trying to please everyone and doing something just because someone else thinks you should, focus your energy on the people, values and beliefs you love in your life. Feed your body with positive feelings, positive people and positive experiences to experience positive results.

“I tell my clients to not sweat the small stuff,” said Mariani. “The more you fret over something and try to change something that is out of your control, the more unhappy you will be. You just have to let things go. Belief is a powerful thing. If you believe in something, you are giving it the power.”

Surround Yourself with Positive People and Positive Influences
Around every corner at work, in public venues and in life, you are bound to run into negative people and influences. While you can’t control the flow of negativity into your life, you can control how you react and funnel the negativity out of your life.

“You have people out there I call emotional vampires who suck the joy out of everyone,” Mariani said. “If you work around negative people, after a while it can be addictive.”

One way to promote a positive environment is by establishing a drama- and negativity-free zone at work or at home where you can take a quick break from negative influences, while relaxing and focusing on realignment of your mind and body. Mariani also suggests regular massage therapy sessions to release the tension and stress caused by life’s negative influences and experiences.

“When you’re stressed, your body will try to correct your stress. But it can’t do it on its own,” Mariani said. “By relaxing, you are allowing your body to heal. You have to be in tune with your body to help yourself heal.”

Achieve Financial Freedom by Gaining a Healthy Perspective
One of the top sources of stress in the United States is money. Whether it is buying the biggest house in your neighborhood, driving the best car, having the latest technology gadgets on the market or landing a high-paying job, many Americans strive for, and stress over, living a luxurious lifestyle.

With a strong focus on monetary values and material things, the American Dream is transforming into living a life full of debt. To break free from the stress of financial burden, it is important to gain a healthy perspective by focusing on what truly makes you happy. Life is too short to live to work to pay for superficial things. Instead, work to live a fulfilling lifestyle that is within your financial means and is focused on what you love.

“It’s important to remind yourself that stuff doesn’t define you as a human,” said Mariani. “Yes, it’s nice to have material things, but you don’t need a lot of stuff to be happy. You have to be true to yourself to be truly happy.”

As you watch the Fourth of July fireworks display this week, enjoy the celebration of our country’s independence and dedicate this joyous time to declaring your own independence from whatever internal or external factors are holding you back. There’s no better time than today to establish your personal freedom and discover what truly makes you happy.

          Comment on What This Couple Did to Go from Homeless with $108K of Debt to Debt-Free by Victoria Dailey   
I want you to read this book!
          Comment on You Want Me To Eat What?! The Next Part of Our Debt-Free Story by currys electricals derby   
<strong>currys electricals derby</strong> You Want Me To Eat What?! The Next Part of Our Debt-Free Story
          Family in debt, girlfriend pays with her body   
          The Looming Energy Shock   

by Chris Martenson, Peak Prosperity:

There will be an extremely painful oil supply shortfall sometime between 2018 and 2020. It will be highly disruptive to our over-leveraged global financial system, given how saddled it is with record debts and unfunded IOUs.

Due to a massive reduction in capital spending in the global oil business [...]

          Red Alert Economic Collapse Update   

by SGT, SGT Report:

This is a red alert economic collapse update.

The state of Illinois is now on fiscal death watch after a District Court ruling on Friday demanded that the state pay back its debtors at an accelerated rate.

Federal judge Joan Lefkow in Chicago ordered Illinois to come up with hundreds [...]

          Debt Reduction Law   
Professionals who specialize in debt reduction law can help a financially struggling client come to terms with the wide variety of legal options that may be available to them.

          Reduce Mortgage Payments   
Hundreds of people desire to reduce mortgage payments in an effort to divert more funds to pressing debts and bills.

          Bankruptcy Debt Relief   
Bankruptcy debt relief can be a quick fix panacea that has people who are drowning in debt dreaming of a new life and a new start and finally being able to face the day again.

          Personal Finance Planning   
When dealing with personal finance planning, there are a large number of factors that should be considered, ranging from debt management to careful and realistic budgeting.

          Let Debts Be a Nightmare   

Have you ever had such moments when you have large money debts and you don't know what way of such a situations is? I think every person has ever had such a moment. You work hard without a rest only to cope with your debts. That's awful, nobody is dreaming about such a life.

There is a way out of this situation. It is 0 balance transfer credit cards. The problem of closing the existing debt comes to the bank. When the debts are handed out, you beginning returning the money to the bank.
          Why Using Debt To Buyback Stock Is Great And Much More   
Everyone is focusing on strategy of bloating any available company with massive leverage to either buyback stock or engage in "synergy-creating" M&A, which is affectionately known as "activism." Massive leverage is great for shareholders but a disaster waiting to happen for employees & bondholders in the future as soon as rates rise.
          Suggested Books of the Week 26   
Check these books out below by Anthony Gottlieb, British writer, former Executive Editor of The Economist and historian of ideas and J. Diane Connell, Ed.D., Professor of Special Education and Learning Disabilities Advisor in the Division of Education at Rivier University.
The Dream of Reason: A History of Western Philosophy from the Greeks to the Renaissance 

The Dream of Reason: A History of Western Philosophy from
the Greeks to the Renaissance

Already a classic, this landmark study of early Western thought now appears in a new edition with expanded coverage of the Middle Ages. This landmark study of Western thought takes a fresh look at the writings of the great thinkers of classic philosophy and questions many pieces of conventional wisdom. The book invites comparison with Bertrand Russell's monumental History of Western Philosophy, "but Gottlieb's book is less idiosyncratic and based on more recent scholarship" (Colin McGinn, Los Angeles Times). A New York Times Notable Book, a Los Angeles Times Best Book, and a Times Literary Supplement Best Book of 2001. 
Read more... 

The Dream of Enlightenment: The Rise of Modern Philosophy   

The Dream of Enlightenment: The Rise of Modern Philosophy
Western philosophy is now two and a half millennia old, but much of it came in just two staccato bursts, each lasting only about 150 years. In his landmark survey of Western philosophy from the Greeks to the Renaissance, The Dream of Reason, Anthony Gottlieb documented the first burst, which came in the Athens of Socrates, Plato, and Aristotle. Now, in his sequel, The Dream of Enlightenment, Gottlieb expertly navigates a second great explosion of thought, taking us to northern Europe in the wake of its wars of religion and the rise of Galilean science. In a relatively short period―from the early 1640s to the eve of the French Revolution―Descartes, Hobbes, Spinoza, Locke, Leibniz, and Hume all made their mark. 

The Dream of Enlightenment tells their story and that of the birth of modern philosophy.As Gottlieb explains, all these men were amateurs: none had much to do with any university. They tried to fathom the implications of the new science and of religious upheaval, which led them to question traditional teachings and attitudes. What does the advance of science entail for our understanding of ourselves and for our ideas of God? How should a government deal with religious diversity―and what, actually, is government for? Such questions remain our questions, which is why Descartes, Hobbes, and the others are still pondered today.Yet it is because we still want to hear them that we can easily get these philosophers wrong. It is tempting to think they speak our language and live in our world; but to understand them properly, we must step back into their shoes. Gottlieb puts readers in the minds of these frequently misinterpreted figures, elucidating the history of their times and the development of scientific ideas while engagingly explaining their arguments and assessing their legacy in lively prose.With chapters focusing on Descartes, Hobbes, Spinoza, Locke, Pierre Bayle, Leibniz, Hume, Rousseau, and Voltaire―and many walk-on parts―The Dream of Enlightenment creates a sweeping account of what the Enlightenment amounted to, and why we are still in its debt. 

Brain-Based Strategies to Reach Every Learner 

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using our online order form
In this unique resource, Diane Connell applies insights from brain-based research to the classroom. Working from the premise that teachers tend to teach in much the same way that they learn, Connell provides questionnaires that instructors identify their learning preferences, including:

  • left-brain/right-brain preference
  • multiple intelligence profile 
  • information-processing preferences 
  • learning style 
  • emotional intelligence
She then helps instructors expand their teaching repertoire by providing classroom-tested strategies that engage all kinds of learners. In addition, Connell provides surveys and checklists so students can discover their learning preferences. She also offers strategies that help students work with their strengths and improve the areas they are weak in. Complete with research-based suggestions for organizing and managing classrooms so all students can learn and thrive.

Source: Ancient Origins and XanEdu

          Comment on The Real Gap Between The Rich and The Poor Is Not The Money by Jeroen Hellingman   
Let me respond, not just to the surface message of this post, but to a deeper level that I think is misleading, not by what it says, but by what it doesn't say. Indeed, one half of the story is changing the mind-set of the people to take their fortunes into their own hands, but that only goes that far. The other half should really come from societal change, which nobody can do alone. Too often I hear people ignore the plight of the poor with the simple argument, well, it is their own fault. They should just work harder or smarter -- and basically deny them even a chance to get out. Although I am Dutch and live a confortable live in a rich country, I've also lived in India and been in the Philippines many times, so third world society and conditions are not strange to me. The difference between middle class and rich is that the rich are net possessors of capital (in the economic sense of income generating assets, as opposed to consumption goods). Control of these assets is what makes a different mind-set possible. It is wishful thinking that you can turn that upside down, especially in a world where the rules are bent significantly to the benefit of asset-holders instead of providers of labor. This article is fairly ambivalent in its idea. It jumps from one interpretation of 'rich' to another, but having the mindset will NOT automatically get you the finances. That is a harmful neo-liberal idea that needs to be rejected. Much is established by heritage and luck. I would therefor like to suggest not to mingle the two concepts. Poverty means having not enough resources to achieve your potential in life. You cannot pay for (your children's) schooling, you cannot pay for essential goods, such as healthcare or healthy food, and therefor suffer and actually undermine your earning capability. This is also harmful for society at large, and hence we need to collectively take action to prevent it. Curiously, having too much money also prevents you from achieving your potential. Never having to work for your luxurious escapades is NOT a blessing, and leads to wasteful, destructive behavior. As a society, we should also prevent excessive wealth, as that also undermines our democratic society. For that reason I am very much in favor of progressive income taxes to pay for services that benefit the general good (such as schooling, necessary infrastructure, etc.), and ultimately inheritance taxes that prevent that generations of 'upper class' people can live on the income of assets alone, without ever doing any meaningful work. I think a healthy society should have a ratio between the lowest and highest income earners of about 5, and should actively prevent that ratio to go above 20. Also, an inheritance should never be so large as to enable somebody to do nothing all his life, and still have money left at the end of that life. This would limit inheritances (in European context) to about 2 million euros. Taxing away the excesses of the rich will provide the means of providing for the poor, and also taking care of those who can never care for themselves (handicapped, sick, and old people). Now please don't tell me that progressively taxing high incomes will take away the incentive to work hard. That is another neo-liberal thought that doesn't withstand scrutiny. First, most very high incomes are not labor based, but asset based (incomes from rent). Second: social studies have shown that increases in incomes above about 60.000 euros (again, European standards) are not matched by an increase in well-being. You do not gain more happiness from having more. It is a waste. The incentive for people to work hard who already have a sufficient income will always come from other reasons (yes, one of it is status, expressed by ostensibly displaying wealth -- we simply have to laugh that away as foolish and crude.) -- reasons such as self-expression, building a better society, or just enjoying what you do. In my opinion, everybody needs to think and plan ahead financially. Set aside at least 10 percent of your monthly income to provide for buffers, educate your children and set aside assets to care for you in your old age. People need to realize that borrowing is costly (even at today's low interest rates). Just to end with an example. Donald Trump is a very good example of being a rich man who displays poor behavior, and shows how bad our legal and economic systems are skewed to the benefit of living on assets instead of labor, and how permissive our legal system is of abuse. He lives by creating debts and then defaulting on them; his behavior is destructive, his esthetic tastes abysmal, wasteful and bombastic, his attitude towards other human beings horrendous, he just doesn't care about natural beauty, and his performance as a 'business man' is far below par (if he had just invested his entire inheritance in a fund with a low risk profile, he would have been much richer than he is today).
          Comment on On the Road With ‘Shark Tank’ 2017: Meet the CEO of SpenDebt by Orlando plumber   
<strong>Orlando plumber</strong> [...]check beneath, are some totally unrelated internet sites to ours, nonetheless, they may be most trustworthy sources that we use[...]
          What you need to know about the Debt Settlement Process   

Negotiating with creditors and collection agencies to reduce debt continues to be a popular option among consumers. This debt relief method is based on the possibility of being able to convince creditors to settle debt for an amount that is less than you owe. Creditors may reach an agreement with their debtors to let them […]

What you need to know about the Debt Settlement Process is a post from provides tech tips and tutorials for SAP Professionals and Bloggers (about).

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          McAuliffe: Municipal Broadband Networks Plunge Cities into Debt    

          Comment on How To Build An Online Store With Shopify In 2017 by   
In a Pittsburgh casino, 4 of the world's best poker gamers are participating in a tournament with very excessive stakes. Since you should make investments more chips to see a flop the worth of the speculative arms performed in the early levels goes down. And when they do play poker, they could earn cash from the fact that a number of wealthy, but not particularly expert poker gamers need to play towards them - for the sheer kudos of having done so. This free on-line scrum tool encourages collaboration and planning for distributed agile groups. The second is Diamond chips which might be manufactured from plastic, however commonplace on line casino dimension and are a bit heavier than the cheaper plastic chips. For instance, websites such as Betfair Poker and Sky Poker are extensions of on-line casinos. It is a free video slots app that has some of the most enjoyable and rewarding bonus games around. Similarly, I could play for a couple of hours, go to the health club, grab a chew with buddies, then play again later within the day. Now there are fairly nicely-known gaming web sites which even declare lakhs of on-line poker players. They don't care who their opponent is in any given hand… You attempt to isolate the FISH and steer clear of most successful regs. Not only did they create one other millionaire after a German poker player won the seven-determine dream rating taking part in a Spin & Go sport. By Tuesday of the following week, 10 lucky gamers might be randomly chosen to obtain free entry into the $50,000 GT running on the last Sunday of the month. The essential thing issue that modified poker all over the world submit Moneymaker's victory is that folks believed that playing poker professionally could presumably be their major supply of earnings. Straight from the Massive Slick Poker Academy in Texas, this fairly easy free app will train you all the essential skills required to play No-Restrict Texas Hold'em. I began following dwell poker tournament stops all through the world, locations similar to Auckland, N.Z.; Melbourne, Australia; Las Vegas in fact; Vancouver, Canada; Los Angeles; and many different cities. Many online poker websites supply free rolls that open to all players with none necessities. Today you can still discover some worthwhile spots on PKR Poker as it all the time appears to offer more gamble than a few of its competitors. So, it's really essential so that you can discover a reliable website the place you may play money poker games with none glitch. Many instances brief stacks will put their chips within the middle with any 2 face cards or Ace. They present up on a regular basis on the lower limits especially should you play at straightforward poker sites. Together with Burman's PSL, there's another tour that's trying to do one thing comparable but online. As per Sections 201(1A), 221, 276B of the Income Tax Act, the organisers of the sport may be prosecuted for not deducting TDS and would require paying the whole TDS with interest and other penalties. What I imply is and that's one thing numerous rookies do: For instance they have 27 and fold that preflop, however the flop seems to be 277. Initially from Iran, Antonio has impressed gamers and fans alike for his poker playing skills. I feel really proud that inside few years a lot momentum has happened in the domestic poker scene and plenty of inspirational stories have come forward for lot of budding and new poker gamers to emulate. If you've ever performed Pot Restrict Maintain ‘Em you'll be familiar with the best way betting pot is calculated, it is actually very simple however can typically throw folks off when they're raising any individual. You now have the solutions to the entire most continuously requested Indian online casino questions. By taking part in at any of our top USA 3 Card Poker online casinos you will be sure the sport is truthful and your money is secure. The player must be capable to obtain a WiFi or mobile phone signal with a view to play. For this reason gamers will get pleasure from a hassle free mobile gaming expertise through a very simple and a user-pleasant software program and on line casino interface. Then there is another round of betting, and then arms are revealed (the showdown) and the very best hand wins the pot. It goes without saying that Adi Agarwal has executed wonders throughout the poker community. Give your self time earlier than the tournament begins to take a seat quietly, collect your thoughts, and gather your vitality. I'm glad you discovered Beat The Fish and I hope you discover at least one page that entertains you, helps you make up your mind about a prospective poker site, or win a bit of bit more at the tables. In Hold'em, gamers get two down playing cards and five group cards (that are face-up in the midst of the table). Opening an account on our Indian rummy website is free, so you needn't acquire any payment pursuits to be able to begin enjoying on-line poker and glorious rummy video games now we've got as part of our provide. It's an choice in only a few conditions, but when any individual opens under the gun with a name in a Maintain'em, he's certainly a fish. Typically, essentially the most famous players are far better than the common players within the group of all gamers who are usually not the most famous. Poker is enjoyable in the event you're successful once you're losing somewhat bit throughout your spare time. They seem to stay collectively higher than any other chip and there appears to be a suction effect between chips. As poker is taken into account a game of skill and does not represent playing in India, web sites providing on-line gaming alternatives must observe all the relevant legal guidelines. Please ship me your poker technique questions, and I'll reply them on the FRIDAY Q&A EPISODES! Additional, varied pointers and rules issued every so often must even be complied with by on-line poker websites of India. Gamers who are forward some years on video games taking part in less than one hundred% are enjoying constructive variance. I am very excited to take this new form of AI technology to China," mentioned Tuomas Sandholm, professor at the Computer Science Department at CMU who created Libratus and Lengpudashi with Ph.D. scholar Noam Brown in a statement I need to explore varied business alternatives for this in poker and a host of other application areas, ranging from leisure games to enterprise technique to strategic pricing to cybersecurity and medicine". Still, once Libratus cashes in its chips, it might open up a new world of artificial intelligence. Go to Thrill Poker on-line internet portal, play the sport, win 2 occasions the invested quantity and also further 200% locking bonus totally free. The second day of the India Poker Championship dawned shiny and sunny… we expect. Besides live tournaments, he additionally plays online under the alias title barryg1″at PokerStars. When playing 3-card poker, it is important to perceive what beats what, as there are a number of variations in how palms are ranked taking part in this game in comparison with a traditional poker sport. Lindgren's debts throughout poker and sportsbooks acquired as high as $10million at one point, and though he claimed to have paid back as many as he could, his name grew to become synonymous with ‘unhealthy debt' in poker circles. All on-line poker web site software program must include self-exclusion features resembling loss limits and time-outs for actual cash poker players to implement themselves. However, since Android devices do not run your app/browser usage in isolation, you might collectively be consuming a better volume of knowledge through apps running within the background. Hart will get the proper alternative to put the enjoyable again into poker with his televised look. The poker progress there has lagged behind the remainder of the world, mostly on account of enjoying laws in the nation nonetheless they're steadily catching up with the remainder of the world. To add extra to this on-line poker enjoying excitement now we've got on-line poker tournaments which are listed on the principle web page with required particulars. Though the Madras Excessive Courtroom has made reference to poker being a recreation of skill, there's a lack of a complete judgment by the Supreme Court on the topic, and hence, confusion prevails. After a player raises, if all the next gamers both fold or name but don't increase the stake additional, then no further raises may be made until the following card is dealt. Like Chip Reese, Brunson has performed a outstanding position in the greatest cash games in Las Vegas for over three a long time. I will now study a problem which has been of appreciable debate throughout the globe, i.e. what's the degree of talent concerned within the sport of poker and also the potential for the judiciary/legislature recognising poker as a ability-based mostly sport; separate from gambling. According to current analysis, there are greater than 100 million poker players worldwide. The truth is, for individuals who would fairly feast on fish than change into a meal for backside feeders, it's best to avoid locations that attract numerous Las Vegas residents. On line casino homeowners know the historical past of poker chips and all the forgery that goes along with that historical past. Rockets Poker Room, 159, 1st Main, Sheshadripuram, Above State Financial institution of India, Bangalore - 560020. The result of the online Pai Gow Poker recreation is set by comparing your Excessive Hand to the seller's Excessive Hand, and your Low Hand to the supplier's Low Hand. A force to be reckoned with Erik has been enjoying in a number of Triton Super High Roller Series occasions in the Philippines and he'll positively be in Las Vegas this summer season, trying so as to add to his bracelet collection at this yr's World Collection of Poker. In 2010 the India Poker Sequence (IPS) hosted three main poker occasions at Indian casinos. Before we start our overview of the authorized background to specific cash poker inside India, I will just make a degree out of some useful poker pages correct here on winmoney101. On-line Video poker is a straightforward sport to play however gets you on the heart of the motion instantly; it is enjoyable, dynamic, and provides plenty of rewards. However, if 'informal' strikes you as a grimy phrase, you may as well take this recreation tremendous-critically with Sage Solitaire's True Grit Mode. Mr. Inexperienced is a singular mobile casino, it's because the gaming content material that's provided isn't powered by one single gaming developer like most on-line and cellular casinos but as an alternative, it is powered by among the greatest names within the trade. Online poker rooms similar to and provide a variety of banking choices similar to Visa, MasterCard, Maestro, Visa Electron, Moneybookers, Neteller, Click2Pay, PayPal, pay as you go playing cards, Ukash, paysafecard, Entropay, Giropay, POLi, and others, however Indian poker players may really feel frustrated after they realize that they can't use a lot of the banking strategies offered. In essentially the most fundamental, and presumably the unique version of this recreation, the gamers ante and are dealt only one card every, face down. If the seller doesn't qualify, all gamers remaining in the hand win even cash on their play wager, whereas all ante bets push.
          'Tourism is our lifejacket': debt-stricken Greece gets record number of visitors - The Guardian   

The Guardian

'Tourism is our lifejacket': debt-stricken Greece gets record number of visitors
The Guardian
Debt-stricken Greece is braced for a record-breaking 30m holidaymakers this year, almost three times its population. Addressing the Panhellenic Exporters Association last week, the tourism minister Elena Kountoura said that between January and May ...

          In Memoriam: Richard G. Hewlett (1923-2015)   
Richard Greening Hewlett, the first official historian of the Atomic Energy Commission, has passed away at the age of 92.1 I never knew Hewlett, but nobody can work in this field without acknowledging the huge debt they owe him for his work. Hewlett began working for the Atomic Energy Commission (AEC) in 1957, working to write […]
          One Hundred Years of Indebtedness   

Gabriel Garcia Márquez, the Nobel laureate novelist most famous for One Hundred Years of Solitude, was native to Colombia. Nonetheless, as a master of magical realism, Garcia Márquez would have appreciated the Republic of Argentina’s recent combination of fact and fantasy.

          Comment on [KR1090] Keiser Report – Drooling at the Slot Machine is ‘the American Dream’ by Evolutis   
Yet another unsolicited cyber intervention Or 'The neighbor's dog won't stay off your leg? BTW, is that anybody's fault? Is it like monetary religion, a nefarious environment wherein the highly divisive activities of organized religion, politics, and debt based global banking are gang members who promote the "Bad Behavior, of Extended Childhoods'.; you know, the stuff that science keeps pushing off the cliff. :-) You could consider your input into an advanced civilization; perhaps the citizen scientist guidelines of physical reality's laws, as apposed to an unsustainable continuance of bad ideas. Today's follow up intervention of questionable promise ... "Virus Defender Alert: Zeus Virus Detected on your Computer! Please do Not Shut down or reset your computer. The following data will be compromised if you do so: - Passwords - Browser History - Credit Card Information - Local Hard Disk Files. This Virus is well known and mostly distributed though Adult/Porn sites. Commonly used to steal personal and financial information from the infected device. Your device might also be used for performing DDOS attacks by cyber criminals and cause serious harm to other networks and websites. Virus defender has sandboxed your browser and locked your PC in order to prevent any further harm. Please call Technical Support to rectify the issue and get your PC unlocked. Toll free helpline at 1-(888) 891-0013". OR - An alternate plea - keeping in mind that the way you do things today, is not the way you will do things tomorrow. The smart phone in your hand has a good chance of being 'Leap Frogged' for a higher functioning robotic assistant. You might just consider it your obligation and responsibility to at least make an attempt @ being situationally aware, interval by interval and pass on your observation[s] for peer review. Is that your tomorrow's, job without the hindrance of money? A cognitive surplus initiative; real value? - Choose Wisely!"
          Comment on [KR1090] Keiser Report – Drooling at the Slot Machine is ‘the American Dream’ by Evolutis   
Scam?? AND / OR A Gypsy switch environment that manifests it's ugly head when people require a desperate, dying, 'Job For Money' market forced market to pay antiquated, debt based banking mortgages or perhaps A Big Mac? Friday, June 30, 2017 @ roughly 11 AM "RDN/YahLover.worm!055BCCAC9FEC Infection ** ZEUS VIRUS DETECTED - YOUR COMPUTER HAS BEEN BLOCKED ** Error: Virus - Trojan Backdoor Hijack #365838d7f8a4fa5 IP: Browser:Safari ISP: Cox Communications inc. Please call computer system technician immediately on: (888) 891-0013 Please do not ignore this safety alert. Your System Has Been Compromised. If you close this page before calling us, your computer access will be disabled to prevent further damage and your data from being stolen. " The pitch 'Adam' [ The son of a Forex dual victimization from Asia wet dream LOL :-)] ... wherein you give permission to have a remote sever intervention to take over your computer for questionable Trojan Horse Virus spanking?? followed by your your credit card number and co-mingled name drop 'Microsoft' warrant and finally, the real physical occurrence the cleaning of you account of $199.00. 'Eyes open, NO Fear!'
          Higher Education Expectations   
What do Kansas Citians expect from higher education? A job that pays well? The chance to learn for the sake of learning ... or something else? As the cost of college goes up, saddling graduates with debt, we explore the point of higher education ... and whether its concepts are in touch with today's reality. Guests: Michelle Maher, Professor of Higher Education Administration, School of Education at UMKC Doug Lederman, Editor and co-founder, Inside Higher Ed Carlos G. Peñaloza, Vice Chancellor of Academic Affairs, Metropolitan Community College
          English Spelling & Pronunciation - Why the Discrepancy?   
The discrepancy between spelling and pronunciation of words is perhaps the most difficult part of learning English as a second language. Or for that matter as a first language. How did this discrepancy develop?

David Crystal in By Hook or by Crook devotes a few pages to the history of English spelling that I will summarize here.

Irish monks living in England developed the first writing system for English during the Anglo-Saxon period. They did a fairly good job of recording the language as it was spoken. One problem they encountered was the difference in dialects between areas of England. Spelling phonetically resulted in hundreds of words with different spellings in different parts of the country. "Old" for example was spelled "eald" in the south but as "ald" in the north.

After the Norman Conquest (1066) the writing of English was taken over by the French who introduced their own peculiar way of spelling. Some of the Norman French contributions to English spelling are: "qu" for "cw" (thus cwen became queen), the "ou" in words like mouse and house, and the "gh" in might and rough. The Old English alphabet, with lots of up and down strokes made it hard to read words with adjacent letters "n", "m", "v" and "u", so they frequently substituted "o" for "u" making words like come, love, and son. As Crystal explains "[this] certainly helped legibility, but it added a new set of complications to spelling".

Later spelling "reformers" near the end of the Middle Ages decided that spelling should reflect a word's history, so words with a Latin origin were changed to remind readers of the original Latin word. This resulted in the "b" in debt (to remind us of Latin debitum) and the "o" in people (for Latin populum), among many others. Most modern English speakers do not view these changes as an improvement (my understatement of the day).

So why have these spellings persisted? It's not for lack of reformers. Many scholars over the years have made spelling reform proposals. All but one (more on the exception in a minute) were met with fierce resistance. No one wanted to have a new system imposed on them, even if it would make life easier (witness the resistance to metric in North America). It didn't help that the reformers couldn't agree among themselves on a single system. I have an entire book on the subject of English spelling in my language library - Righting the Mother Tongue by David Wolman - which I will delve into for more detail another time.

Now for the exception among spelling reformers: Noah Webster. His proposals came at the right time and place to gain national acceptance - the formation of the new nation of "The United States of America". Strong anti-British sentiment lent support to his proposal in 1789 for America "as an independent nation... to have a system of our own, in language as well as government." His 1828 "American Dictionary of the English Language" became the standard for American English. Webster of course only did the job of reform half way - if that. He dropped the "u" from words like colour and the "o" from diarrhoea but left the vast majority of irregularly spelled words (nearly 1/4 of the words in a modern College dictionary) the way they were. And of the words that he did change, Canada adopted both British and American versions, only adding to our spelling complexity (see my June 23 post "Canadian English, Eh?"). His opportunity may never knock again.

There is some hope, however. Modern linguists are watching the way English is being used in social media like email, chatrooms, and blogs. Here grammar, punctuation and spelling are greatly simplified, more or less without loss of meaning. Blogging is of particular interest where more complex ideas are being published but, as Crystal puts it, "without the intervention of an editor or proof-reader, so it is more like 'speaking in print' than anything before". Perhaps this is the beginning of grass-roots language reform.

Are you a traditionalist or reformer? I'd like to hear your thoughts on English spelling.
          How To Pay For College In The Most Unconventional Ways Imaginable, Including Mooching Off Your Trust Fund Friends   
Good news, America! Collectively we owe $1.4 trillion in student loan debt, with the average 2016 graduate on the hook for over $37,000, up 6% from last year! I know […]
          Year of Jubilee   

July brings us to the halfway mark of our year.  It feels like a good time for a "do over" doesn't it? Maybe you started the year with certain goals and ideas and they took a turn along the way or fell by the wayside.

I started the year a bit unsure of where I was going in 2017.  I turned 50 in December and just had so many things rolling around in my head about that.  I became a grandmother and the school year quickly ended last month and I am looking at another senior year with our third child and our youngest is in 8th grade.  I need for this year to slow down!

First I started 2017 without a theme.  That was quickly remedied as I started reading books for the year.  God has repeatedly thrown the themes of Sabbath, slowing down, clearing out, empty nesting, marriage focus...  in my path with all I have been reading and with sermons at church.

About six weeks ago I was reminded that there are three kinds of Sabbath in the Bible...  a weekly Sabbath, a seven year Sabbath and a Year of Jubilee every fifty years.  I am fifty.... THIS IS MY YEAR OF JUBILEE!!!  Realizing that has clarified what God is showing me through all of this.

In a Year of Jubilee it seems everything STOPS!  There is a rest for the land and the people.  It is a year of freedom... slaves were set free to go back to their families and their homes.  It is a year of celebration.  There were no days of planting or harvesting so the land had an opportunity to rest. Property was returned to it's original owner.  Money issues were settled with the cancellation of debt. It is a year of truly trusting God and recognizing that He is the creator of all things.  His command is to rest and when Israel did not heed that command they were taken into captivity.  It is to be sacred... and holy!

If you want to know more about this you can head over to Leviticus 25.

Now, I know this was in regard to the commands given to Israel but let's play WHAT IF....

What if we did this when we turned 50?

What if we took a year off from the crazy and the busy and we just focused on God and our family?

What if we focused on paying off our debt.

What if we spent more time taking long walks and listening to beautiful music.

What if we spent time celebrating with our family.

What if we loved our lives and growing older instead of dreading it?

What if we focused on the Holy things of God and the sacredness of all that He has done for us?

What if we said no to the things that crowd out that still small voice?

What would happen?

I wish that I had thought about these things before I hit 50.  I wish I had planned for a Year of Jubilee in my own life.  I am grateful to Barbara Rainey and Susan Yates for addressing this in their book on Empty Nesting that I just finished.  I wish I had read it sooner... BUT....

Guess what... it is not too late!  I am going to start right where I am.  If I am truly honest I have to say God has already been pushing me in this direction since around November of last year anyway.  I was just not listening closely enough. Sometimes He has to hit me over the head to get my attention! LOL

There have been a lot of things I have let go over the past year and I have planned days to stay home and days of recovery much more with the autoimmune issues.  I have listened to more music and read more books.  I have eaten more with my family and focused on so many blessings.  It has not been perfect but I can see God's hand in slowing me down.  I can see that He has been speaking and showing me what He wants.  I need to hear better!

The rest of 2017 will look a lot more like a Year of Jubilee for me... intentionally.  I am in the process of changing my focus for the fall and building a Sabbath time for each week.  I am saying no to everything that takes my time away from family with the exception of my little part time job.  We are paying down debt as quickly as we can and cooking more together, eating together, playing together. I plan to continue to read  the Bible daily (50% of the way through already), read more books (my goal is 40), sit outside, take walks, take a tea time again, enjoy my meals more, go to bed earlier and sometimes sleep a little later and certainly relax more.  I will take more pictures and play more music.  I will journal, write, blog, vlog, be grateful... much more often than I do now!  I will not let my Year of Jubilee go by unnoticed.  I plan to celebrate and live it well.

So, what is God showing you this year?

Are you planning any special goals and such for the second half of 2017?

Do you have a theme you have been living this year?

Leave a comment below and share with us!
          Illinois Congressman Ain't Gettin Paid   
To the Smartest. Most Active and most loving Audience in the world - welcome.

Where you get more news in 15 minutes here that you do form all the Fake News Outlets in 24 hours.

This video is brought to you by Trade Genius.

In hard times like these we all need to look for earning extra income.

Jane and I are now beginning to take their courses on how to make extra money for our non-profit through this company.


That is Correct.

In our lead story a Court Ruling left the State of Illinois Congressman speechless.

As the State fails to pay over $15 Billion I Bills the courts have ruled that the Illinois Congressman will share in the burden.

No pay for other state employees means no pay for their Congress.

State Congressman have no immunity to budget cuts.

So who do you think will have budget cuts: Those on welfare or the Democratically Controlled State Legislative Branch????

It appears that ALL Blue States are about to face this - Democratically controlled Washington, Oregon, California, Connecticut, etc.

Further - when the Federal Congress cuts all Federal Funds to Sanctuary States, Counties and Cities - the Mayors, County Executives, and state Congressman will not get paid and what company will bribe their states Congresses to do anything if their state budget is in turmoil????

Justice Has Been Served

In a world with $217,000,000,000,000 in debt - it is time those in congress pay for what they have done.


In other news:

1) President Trump will now be asking Congress to add Tariffs to those products coming into the United States that are sent here using Foreign Government Funds to destroy the American Industrial Base.

So - for example - if a Toaster is made in China using 80% funds from the Government - Trump will authorize Congress to charge an 80% Tariff for that toaster.

The President will now level the Playing Field.

2) Both Mexico and Venezuela are now running out of oil

President Trump will now run an Oil Pipeline to Mexico to help support their failing companies and has worked out a deal where the Oil Companies will charge a Discounted Rate to help their economy.

Just as Russia provides a discounted rate to the Ukraine for Natural Gas to help their brothers in need, the US will provide Cheap Fuel to Mexico.

3) The EU and Russia and now sanctioning each other.

What this means, for example, is that if a toaster is made in Russia it is Wholesaled through a country like Iceland and then shipped to Europe.

Sanctions never work, not in the day and age of computers

4) The New York Times has finally admitted the Russian Story about stealing an election was totally fake a complete lie, Fake, Felonious and False - thank you X-22 Report

5) CNN Managing Editor called American Voters: "Dumber Than Shit."

Jimmmy Carr, a Hate Filled Associate Producer at CNN, absolutely hates President Trump and openly said: He's Just F..Ing Crazy."

So you are Dumb Shi....s and the President is Crazy.

Guess tat tells us what CNN thinks about We The People.

CNN has Fallen down, Fallen Down, Fallen down
CNN has Fallen down
The Fake News Network

6) Wheat Prices are soaring around the world as South Dakota Wheat Harvests are severely reduced due to bad weather - the Food Prices are now about to jump very high.

7) Finally - Moscow has been under attack by the Elites in terms of weather.

Please pray that all that the Elites do to others is now heaped upon their heads.

President Putin, PM Medvedev - time to attack back. Pinpoint the Elite Head Quarters and deal with these folks ever so harshly of Russia will fall within one year, so sayus the I Am That I Am, who was, and is and is to come.

Again - this video is brought to you by Trade Genius - where Jane and I are now studying so we can bring on more money for our Non-Profit

Finally - your prayers are working as President Trump moves forward to help stabilize the World’s Economy. Expect 3 months of limited food and limited power - lots of black outs.
The News You Need

The Wall of Truth

Dr William B. Mount

"From Horrific To Catastrophic": Court Ruling Sends Illinois Into Financial Abyss | Zero Hedge
The World Is Now $217,000,000,000,000 In Debt And The Global Elite Like It That Way | Zero Hedge

Donald Trump promises new petroleum pipeline to Mexico: 'It'll go right under the wall' - Washington Times

EU and Russia extend sanctions against each other

CNN Producer: American Voters "Are Stupid As Shit" | Zero Hedge

Dakota Drought Sparks Biggest Spring Wheat Price Spike In 7 Years | Zero Hedge

New York Times Forced To Retract Longstanding '17 Intel Agencies' Lie About Russian Hacking

          Fixing up NB Power   
There has been much debate about NB Power and its role as either the core of New Brunswick’s future wealth as a key component of the “energy hub” or as an inefficient debt laden albatross around New Brunswicker’s necks. As ex-premier Shawn Graham quickly discovered, New Brunswickers have strong feelings when it comes to NB […]
          New Brunswick’s deficit – Where did it come from?   
New Brunswick has been recently struggling with high budget deficit and an increasing debt. Where did the deficit come from?
          Più accecante della notte   
Director: Diego Bonuccelli
Cinematographer: Diego Bonuccelli, Katia Cirrincione
, , , , ,
Because of gambling Dario risked everything, his belongings, his job and also his life. Forced to be indebted to "Santo", a ruthless local usurer, he will find himself in a sequence of fatal and terrible events.
          Looking for Unique Lodgings? Spend the Night in a Haunted Canadian Jail   

canadian jail

Canada's capital city, Ottawa, is known for its historic parliament buildings, Rideau Canal, and bustling Byward market. But right in the center of the downtown core, there exists a truly unique travel experience: Operating as a small penitentiary from 1860 until the early 1970s, the Ottawa Jail is now used as a hostel for visitors who enjoy a little ghost story before bed.

The imposing stone and brick building dominates the surrounding area. Walking into the courtyard allows visitors to stand in the very spot where VIP spectators would have watched public hangings as recently as 1869 when the infamous Patrick Whelan was executed (based on startlingly little evidence) for the murder of one of Canada’s founding fathers, Thomas D’arcy McGee.

Hangings were routinely carried out on the thirteenth hour of the thirteenth day due to superstitious lore, but Whelan’s was scheduled for the eleventh hour of the eleventh day to throw the crowds off. It didn't deter them, and 5,000 people (half of the population of the city) came out to see him hang. During Whelan’s execution, the hangman made an error and Whelan suffocated for a full five minutes. The crowds went wild and the city descended into rioting. Whelan's body was not returned to his family, as per his last wishes, and his ghost is said to still walk the halls at night.


The prison closed in 1972 and was renovated and reopened with a royal visit by Prince Philip, a year later, as a youth hostel. The hostel offers a tour of the floors of the prison each day (and rooms where the bravest of tourists can spend the night), with lively and knowledgeable guides who are more than happy to regale visitors with tales of the jail’s sordid history.

Prisoners were housed on different floors based on the crime for which they had been convicted, with the worst offenders waiting for their fate on death row. At one point, there was a quarantine holding cell in the basement and a juvenile detention center on the top floor, which once housed an 8-year-old murderer.

As the last functioning gallows in Canada, this jail saw three official hangings. Our guide explained that when renovations were carried out and the courtyard was dug up, 150 bodies were excavated. Although many of these were likely those that didn't survive the poor conditions or died in the prison hospital, there is evidence that there were many unofficial executions.

Those who escaped death didn't have much of a life of which to speak. Prisoners in solitary confinement were chained to the floor in the dark, face down, and naked for 23 hours a day.

The windows were open to the elements and in a city that experiences -40 degrees in winter, this was surely a torturous existence. In some cells, visitors can still see the shackles and a ball and chain that were used to secure prisoners to the floor.

There are creepy details throughout the prison hostel: In the stairwell leading to the noose, a wooden beam bears the rope burn markings from its use as a makeshift gallows; on one set of stairs, suicide barriers were later installed after a guard was pushed to his death during an attempted prison break.

If you’re not too scared by now, check in for a night at Canada’s creepiest (and cheapest!) hotel.

The reception area of the hotel is much like any other youth hostel, with comfortable places to sit and brochures of tourist attractions around the city.  After check in, however, guests must make their way through an ominous heavy wooden door where the oppressive feeling of confinement begins.

Insider Tip: Before bed, scaredy-cats can calm their nerves with a drink at the hotel’s lounge and bar, aptly named Mugshots.


The truly authentic single cell lodgings are on the fourth floor, behind another heavy door. On the way to the cells, staff tell tales of paranormal occurrences and guest reports of being woken by eerie sounds like dragging noises, clanging metal, laughing, and even screams. Unlike the prisoners of old, you might be quite glad to be locked in your room for the night. In these cramped cells, the bed occupies almost the entire space with just a small square in front of the door for your bag and shoes. A hanger and coat hook are provided to utilize some vertical space but there is no escaping the fact that these are very tiny rooms. 

Just like real prisoners, guests at the Ottawa Jail hostel will need to make up their own bunks before they can retire for the night. The single bunk can feel a little tight and those used to a larger bed at home may start to feel uncomfortable, especially when one sleepy rollover has your nose pressed against the stone wall.

The acoustics of the cells were designed to ensure guards could overhear any secret dealings and plots between prisoners. Today, they convey every hushed word whispered into your cell phone to the entire unit of “prisoners.” The noise levels from other cells and rising from common areas make you feel like you are in public, even when your cell door is closed and locked—don’t expect a restful night.

The bathrooms are situated down the hall and at a breezy distance for a middle of the night dash, which can make even the bravest feel a little spooked.

If you make it through the night, the hostel serves a hearty breakfast buffet each day of bagels, fruit, cereal, and toast in what used to be the Debtor's prison.

canadian jail 4

As prices start from $27 per night for shared accommodation, the jail does offer truly competitive rates in an unusual and memorable locale. Although sleeping in a cell was not the most comfortable travel experience I have ever encountered, it was one of the most memorable.

The HI-Ottawa Jail

75 Nicholas Street

Ottawa, Ontario K1N7B9

Plan Your Trip: Visit Fodor's Ottawa Travel Guide

          Gov. Kasich Moves to Bypass Ohio Legislature for Obamacare Money   

Governor John Kasich’s administration last week requested the Ohio Controlling Board appropriate Obamacare funds for Medicaid expansion, an attempt to circumvent the General Assembly for billions in new entitlement funding from DC.

Despite the partial shutdown of the federal government, a plan amendment submitted to DC by Ohio Department of Medicaid Director John McCarthy to expand eligibility was approved on October 10.

As Statehouse insiders have speculated for weeks, the Kasich Administration will go to the Controlling Board on October 21 to make its case — although without an executive order from the governor, as was widely predicted.

Unfortunately for Gov. Kasich, the Controlling Board “shall take no action which does not carry out the legislative intent of the general assembly,” according to the Ohio Revised Code.

There is no indication the Obamacare expansion meets the “legislative intent” requirement of state law, and in fact the legislature expressly forbade Ohio from adopting the Obamacare Medicaid expansion with a provision of the biennial budget approved by both the House and Senate.

In June, Kasich used a line-item veto to override the General Assembly’s clear intent.

His attempted end run around the legislature is the starkest evidence to date that John Kasich, who was elected in 2010 as a limited government conservative, is less interested in freedom than in “free” money. By 2020, the Obamacare expansion is expected to increase Ohio’s annual Medicaid spending by nearly half a billion dollars.

Kasich has simultaneously expressed his confidence the state should expand Medicaid to hundreds of thousands of Ohioans — almost all able-bodied childless adults — and his confidence that Ohio will roll back the expansion if the federal government fails to keep its impossible funding promises.

The U.S. government is currently $16.7 trillion in debt not including unfunded entitlement liabilities; the best-case scenario from the State of Ohio’s perspective is that Kasich’s decision saddles the nation with billions per year in new bills it cannot pay.

Gov. Kasich first announced his support for the Obamacare Medicaid expansion as part of his budget plan released February 4. The policy is backed by a broad coalition of groups who found common ground in their desire for more taxpayer money.

After House conservatives stripped the Obamacare expansion from Kasich’s budget, the Ohio Hospital Association (OHA), labor unions, socialized medicine lobbyists, and a number of major chambers of commerce across the state redoubled their pleas for the new federal spending Medicaid expansion would bring.

Advocates for Ohio’s Future, a partnership of health care providers, unions, and leftist groups, has worked since February to pressure legislators into backing Gov. Kasich on Medicaid expansion, and sister organization “Healthy Ohioans Work” has begun gathering signatures to send the issue to the ballot.

Despite the efforts of an army of lobbyists and Ohio’s legacy media, who have made serious debate impossible by bashing opponents of the Obamacare Medicaid expansion as cruel ideologues, the Obamacare expansion has not received a floor vote in either the Ohio House or Ohio Senate.

Proponents of the Obamacare expansion insist Ohio’s hospitals desperately need more tax dollars, and have used veterans, drug addicts, and the mentally ill as props whose health and happiness supposedly require more federal entitlement spending.

Gov. Kasich, for his part, has abandoned all but the flimsiest pretense of fiscal responsibility, adopting the left’s talking points and even warning God will punish opponents of the Obamacare Medicaid expansion.

The Kasich Administration falsely insists Medicaid expansion in Ohio will be paid for entirely with “Ohio’s tax dollars,” which would go to other states as a result of Ohio refusing to enact the Obamacare expansion.

This story was originally published at Media Trackers.

          Website Woes Indicate Waste as Obamacare Spending to Skyrocket   

This morning, I walked through the rain to work. After arriving at the office, I proceeded to make myself a cup of coffee and log on to my computer.  The first thing I did was visit the Drudge Report to find out the big headline news today. What I found nearly made me throw my coffee at the computer screen. 

The Daily Caller reported earlier today that CGI Federal, the company contracted to create the Obamacare exchange website, was paid $634,320,919 to build the site.  A drop in the bucket compared to the total federal debt and deficit, sure, but is this the best our federal government can do for a law they’ve so heavily promoted? $634 million and the federal government can’t even get a website to function properly? Outrageous. 

Clearly we need to re-evaluate the total cost of the Patient Protection and Affordable Care Act, since the grand opening of Obamacare is inspiring so much confidence in how the federal government manages our tax dollars. 

Charles Blahous, a senior research fellow at the Mercatus Center at George Mason University, has started the conversation in a commentary he wrote yesterday. He made some disturbing observations, revealing how many of the revenue mechanisms in the Affordable Care Act have “started to unravel, while pressure mounted to expand its spending programs.” Remember now, the Obama administration repeatedly promised that the ACA would cut the deficit.  

Blahous points out that “One of the first provisions to bite the dust was the CLASS long-term care program, suspended in 2011 due to its financial unsoundness.” It was supposed to be a source of $70 billion of revenue in the first ten years to finance Obamacare. Also, the employer mandate, which the Obama Administration delayed with questionable legality, was allegedly scheduled to deliver $140 billion in revenues over the next decade. The delay will no doubt shift that projection downward. Furthermore, Blahous indicates that “The ACA's finances further depend on a new tax on medical device manufacturers, estimated to raise $29 billion from 2013-'22.” Members of both political parties have indicated that they view a repeal of the tax as a compromise that can end the government shutdown, removing that $29 billion revenue source. 

Those are just three examples Blahous has highlighted and they show that Obamacare is already scheduled to lose $196 billion in revenue. In a previous research paper, Blahous noted that “between now and 2021, the ACA is expected to add as much as $530 billion to federal deficits while increasing spending by more than $1.15 trillion.” I fail to see how gutting revenue mechanisms from a law that already increases deficit spending will cut deficit spending. 

So, let’s put Obamacare, which constitutes a massive increase in federal spending, in the context of the government shutdown and debt ceiling debate. The shutdown occurred after Democrats refused to accept a Republican compromise to delay the implementation of Obamacare for one year. The CBO estimates that such a delay would save $36 billion over the next ten years. Delaying the law would also give Congress more time to repeal or revise the law to make it fiscally sustainable, but the Democrats have unconditionally refused to stall the implementation of Obamacare, even in spite of the demonstrated problems with Obamacare’s launch.

Now the raging debate in Congress has shifted over the last few days to raising the debt ceiling and whether or not the federal government will default on its debt obligations to creditors. The debt ceiling is currently $16.699 trillion. As I write this sentence, the U.S. A.’s total debt is $16.970 trillion. The United States is predicted to hit the debt limit on Thursday, next week, the 17th of October.  Dean Clancy, vice-president of public policy at FreedomWorks, has already explained why the government will not default. He’s even made a good case for eliminating the debt ceiling entirely. 

But, given that we’re having this debate, and that the consequences of defaulting on our creditors are reported to be so drastic, is it really a good idea to add another $1.15 trillion (at bare minimum) to federal spending? And can we trust the federal government to manage all that money when they can’t even run a website?

UPDATE: Only 51,000 were able to sign up for the Obamacare exchanges after an entire week. Clearly our tax dollars were well spent on that website. 

          Gov. Kasich Pretends Obamacare is Not Obamacare   

Ohio Governor John Kasich is now insisting the Obamacare Medicaid expansion “is not about Obamacare,” in an attempt to message his fight for new deficit spending around conservative opposition and months of bad news about President Obama’s unpopular 2010 health law.

Expanding Medicaid – an ineffective entitlement program that already consumes nearly half of Ohio’s budget – to able-bodied childless adults under the age of 65 is a key component of Obamacare, or the Patient Protection and Affordable Care Act (PPACA).

“Medicaid expansion is no different than the current Medicaid program, and to try to tie Medicaid to Obamacare, I don’t see the connection,” Gov. Kasich told reporter Joe Vardon last week.

The connection could not be stronger: the estimated $13 billion in new federal spending Kasich claims Medicaid expansion would “return” to Ohio over the next 7 years would come entirely from Obamacare.

Newspaper editors have joined health care industry lobbyists and progressive activists in cheering Kasich’s attempt to secure billions in “free” Obamacare funding, but Kasich must also contend with the voters and volunteers who made the Ohio Healthcare Freedom Amendment possible in 2011.

Even before the Obama Administration began arbitrarily choosing which parts of PPACA it would enforce, Ohioans voted overwhelmingly to block the law’s implementation in the Buckeye State.

“I mean it may have been provided in there, but it was John Roberts, the Republican chief justice appointed by President (George W.) Bush, who said states can have the option to extend their Medicaid coverage,” Gov. Kasich added in his interview with Vardon.

This statement was so misleading that even Vardon, writing for the staunchly pro-expansion Columbus Dispatch, noted that Roberts actually said “states could not be compelled to expand their Medicaid programs but could opt to expand if they so choose.”

With few other exceptions, Ohio’s press has parroted Kasich Administration talking points and hospital lobby rhetoric while framing opposition to the Obamacare Medicaid expansion as a thoughtless reaction to the word “Obamacare.”

The Republican governor seems to be taking the media’s assessment to heart.

“This is not about Obamacare,” Kasich told Robert Higgs of the Cleveland Plain Dealer while discussing his speech at a July 9 socialized medicine rally. “This is not about some bureaucracy. This is not about the federal debt.”

Gov. Kasich has been making similarly ridiculous statements for months. In a February 6 RedState post, he wrote that expanding Medicaid as called for in Obamacare would “limit further damage from Obamacare.”

Kasich was far more concerned about entitlement spending, bureaucracy, and the national debt before bigger government meant reelection support from the Ohio Hospital Association and other lobbyists looking for more taxpayer money.

Responding to Obamacare’s passage, on March 22, 2010 Kasich wrote, “In the end, the federal government will just rack up higher deficits and go deeper in debt, leaving future generations to pick up the tab.”

“Ohio government spending will go up also, adding to an already bleak budget picture,” candidate Kasich warned. “Instead of letting states develop innovative solutions to their respective challenges, new federal mandates will require more Medicaid spending and stick states with large and unsustainable costs.”

“Government shouldn’t be making promises it can’t keep – especially when it’s more than $14.5 trillion in the hole,” Governor Kasich said on August 20, 2011, when the federal government was in a pit of debt $2.2 trillion shallower than it is today.

This story originally appeared at Media Trackers Ohio.

          Top 10 Ways ObamaCare Sticks It to Young Adults   

Top 10 Ways ObamaCare Sticks It to Young Adults

Top Ten Ways ObamaCare Sticks It to Young Adults

    By Dean Clancy

[Note: a .pdf version of this post can be found at the bottom of this page]

ObamaCare should really be called the Unaffordable Care Act, especially when it comes to adults in their twenties and thirties. ObamaCare’s “individual mandate,” which takes full effect on January 1, 2014, requires all Americans to purchase expensive government-controlled health insurance, even if they don’t want or need it. (1)  The defenders of this mandate, and especially the health insurance lobby, claim a mandate on all of us is necessary to “help the uninsured.”

In fact, the mandate’s real purpose is to prevent the system’s new government-run “health exchanges” from collapsing. Young adults are being singled out as the group who will have to bear the brunt of preventing this collapse. They’re being asked to sacrifice their dollars and their freedom.

Eighty percent of 20-somethings who earn more than about $18,500 a year will see their health insurance costs go up as a result of ObamaCare. In California, the cost of a basic plan for a 25-year-old male will jump as much as 92 percent, in Ohio as much as 700 percent! Meanwhile, the Administration is enforcing ObamaCare selectively, having granted more than 1,200 waivers to politically connected labor unions and corporations over the past three years, and more recently exempting all large businesses.

In short, ObamaCare is unfair, unnecessary, and harmful to our health. No wonder it’s so unpopular, even before it has been fully implemented. We call on all Americans, and especially millennials, to “burn their ObamaCare card,” join the “health care draft resistance” movement, and help us hasten the replacement of government-centered care with patient-centered care.

Here are the top ten ways ObamaCare sticks it to young adults:

1.    Raises insurance costs for adults under 40 (on purpose)
2.    Reduces access to workplace health insurance
3.    Shrinks workplace health benefits
4.    Reduces work-hours
5.    Kills jobs
6.    Increases debt
7.    Raises taxes
8.    Is unfair
9.    Is unnecessary
10.  Is insulting

1.    Raises insurance costs for adults under 40 (on purpose)

ObamaCare sticks it to young adults by driving up their health insurance costs. On purpose. That’s right, the law is designed to drive up costs for people in their twenties and thirties, in order to keep the new ObamaCare exchanges from collapsing.

Unless a lot of young, healthy people sign up to pay for insurance through the government exchange,  premiums will spiral upward as too many old and sick people sign up, which will cause the system to collapse. Thanks to ObamaCare’s numerous mandates, the health insurance in most cases will cost more than it’s actually worth, especially for young adults. Hence the need for a mandate requiring people to pay into the system. The young are, in effect, being drafted into compulsory national service.

How does ObamaCare drive up rates? Primarily by forcing insurance companies to accept all applicants, regardless of age or health status (“guaranteed issue”) and by forcing them to charge all applicants roughly the same price (“community rating”). These mandates make insurance more expensive, especially for healthier folks, some of whom naturally respond to the higher expense by becoming uninsured -- the opposite of the law’s alleged goal. Younger people tend to be healthier. That’s why they also tend to be uninsured -- the high cost isn’t worth it for them, relative to the benefit. The largest negative effects of guaranteed issue and community thus fall on younger people.

ObamaCare imposes a host of other mandates. One is to make insurers cover adults up to age 26 on their parents’ policy. That sounds nice, until we realize that it costs each of us an additional $100 to $400 a year on our health insurance premiums. (And by the way, since when it a 26-year-old a child?) Another mandate requires insurance companies to cover all services deemed by the government to be “preventative,” including “reproductive health services,” “free of charge.” That too sounds great, until we remember that there’s no free lunch. Mandates raise prices. Period.

How much will premiums rise for folks under 40? (2)

  • Almost 80 percent of those aged 21 to 29 with incomes greater than 138 percent of the federal poverty level, or about $18,560 a year, can expect to pay more out of pocket for coverage than they pay today. Younger, healthier individuals can expect premiums to increase by more than 40 percent. (3)  
  • In Ohio the cost of a basic plan for a healthy 25-year-old male will jump by nearly 700 percent, from $355.44 a year ($29.62 a month) in 2013 to $2,383.68 a year ($198.64 a month) in 2014. (4)
  • In California the cost of a basic plan for a healthy 25-year-old male will jump by 92 percent, from $1,212 a year ($101 a month) in 2013 to $2,196 a year ($183 a month) in 2014. (5)

The uninsured (two out of three of whom are under 40) have average annual health care expenditures of around $800 to $1,200. Since health insurance will cost a good deal more than that, they have an incentive to be uninsured. They need low-cost, economical coverage. ObamaCare gives them the opposite. (6)

By the way, premiums will only go down for older folks if young adults voluntarily swallow ObamaCare’s big rate hikes. If young adults opt instead to take a pass on the insurance and just pay the law’s $95 tax penalty “user fee,” rates will go up for older folks. (7)

You can’t defy the laws of economics. If we want to get more Americans insured, we have to enable insurance to cost less. ObamaCare makes it cost more, for the majority of Americans, and especially for young adults

2.   Reduces access to workplace health insurance

ObamaCare sticks it to young adults by incentivizing many employers to stop offering health benefits. When an employer stops offering health benefits, workers must either: a) rely on a relative’s health insurance; b) go into the ObamaCare “health exchange,” b) enroll in Medicaid or other government program for which they may be eligible, or c) join the ranks of the uninsured. Younger workers will often find themselves in the last category: uninsured.

About 156 million Americans (roughly half the U.S. population) get their health insurance through the workplace. Credible experts predict ObamaCare will cause anywhere from 7 million to 35 million Americans to lose their workplace health benefits over the next few years.

  • The official Congressional Budget Office (CBO) estimate projects that between 2014 and 2019 anywhere from 7 million to 20 million Americans will be “dumped” by their employers from their workplace health plan. (8)
  • A former head of the Congressional Budget Office (CBO) is more pessimistic, estimating that Obamacare “provides strong incentives for employers—with the agreement of their employees—to drop employer-sponsored health insurance for as many as 35 million Americans.” (9)

Wait. Would employers really do that? Would they really drop coverage? Yes, it seems, they would:

  • Thirty percent of employers tell surveyors they’ll “definitely” or “probably” stop offering employer-sponsored insurance in the years after 2014. (10)
  • One recent survey found 9 percent of employers “expect” to stop offering health benefits in the next few years (which would affect about 3 percent of the workforce, or about 5 million workers). (11)

Most of this “employer dumping” will occur among small businesses. That will disproportionately affect adults under 40. (12)

3.    Shrinks workplace health benefits
ObamaCare sticks it to young adults by incentivizing employers to offer stingier workplace benefits. Those employers who choose to offer health benefits will be under pressure to try to save money by making the benefits “thinner.” We already have reports of some employers switching to “skinny” plans, which are plans that don’t cover certain items, such as hospital stays. (13)  Yes, “skinny” plans are allowed under the statute. (14)

4.    Reduces work-hours
ObamaCare sticks it to young adults by causing employers to cut back on workers’ hours. (15)  The law’s “employer mandate” requires all employers with 50 or more full-time employees, beginning January 1, 2014, to offer expensive, government-regulated health insurance. (16) “Full time” is defined under the law as 30 or more hours a week. (The average American works about 32 hours a week.) So unsurprisingly, many firms are reducing workers’ hours to 29 hours or below, in order to avoid the expense. According to the Los Angeles Times:

[B]ig restaurant chains, retailers and movie theaters are starting to trim employee hours. Even colleges are reducing courses for part-time professors to keep     their hours down and avoid paying for their health premiums. Overall, an estimated 2.3 million workers nationwide, including 240,000 in California, are at risk of losing hours as employers adjust to the new math of workplace benefits. (17)

5.    Kills jobs
ObamaCare sticks it to young adults by causing employers to eliminate jobs, especially low-end, minimum wage positions. ObamaCare is causing a hiring slowdown. Part of the problem is uncertainty: employers are afraid to hire because they still don’t know how exactly the extremely complicated law will be enforced. But the bulk of the problem is the employer mandate itself: firms are avoiding new hires to avoid hiring that incredibly costly 50th employee. A health insurance plan can cost anywhere from $8,000 to $20,000 a year. The law says that if you offer coverage, it must be “affordable,” as defined by the government. That means you, the employer, must pay for roughly 92 percent of the plan’s cost. Many small firms simply can’t afford that. Right now, unemployment among Americans under 24 is a staggering 16.2 percent, and thanks to our economy’s anemic 2 percent a year growth rate, these Americans’ employment prospects are dismal. The ObamaCare-induced hiring slowdown only makes this problem worse, disproportionately affecting entry- and lower-level positions and thus younger adults trying to get their start in life.

6.    Increases debt
ObamaCare sticks it to young adults by driving up the national debt. The national debt has recently soared above $16,000,000,000,000 (sixteen trillion dollars), an historic high. Uncle Sam has additionally racked up nearly $100,000,000,000,000 (one hundred trillion dollars) in future, unfunded promises. That mountain of debt must be paid back by current and future generations. The cost of the law’s coverage provisions alone, over the first ten years of full implementation (2014 to 2023), is around $2,400,000,000,000 (two trillion four hundred billion dollars). The law will likely drive the deficit up by more than $700,000,000,000 (seven hundred billion dollars). (18) The problem boils down to basic math. As one analyst has summed up the problem:

Health spending now averages about 21 percent of households' personal income ... [but the] health care legislation presumes that those in an exchange shouldn't have to pay more than 10 percent of their income for a health insurance policy. (19)

That means someone is going to have to subsidize people who get their coverage through an exchange. Who is going to be on the hook for that subsidy? Current and future taxpayers, of course. How will it be paid for? Mostly through borrowing. (Uncle Sam currently borrows more than one-third of every dollar he spends.) So now young adults, who already carry historically high levels of student-loan debt, will have to help pay for the massive ObamaCare debt as well. (20)  How thoughtful.

7.    Raises taxes
ObamaCare sticks it to young adults by increasing taxes. ObamaCare imposes eighteen new taxes, including an expensive tax on medical devices and the first-ever tax on workplace health benefits -- even a new tax on the sale of your home. Those new taxes are projected to bring in a total of $514,000,000,000 (five hundred fourteen billion dollars) in additional federal revenues over ten years.
    ObamaCare’s 18 New Taxes

  1. Individual mandate tax on individuals who do not purchase health insurance.
  2. Employer mandate tax on employers who do not offer “acceptable” health coverage to their employees.
  3. Annual fee on health insurance providers based on each company’s share of the total market.
  4. Medical expense deduction is limited to those with expenses above 10% of adjusted gross income, up from previous 7.5%.
  5. 2.3% excise tax on manufacturers and importers of certain medical devices.
  6. 10% excise tax on indoor tanning services.
  7. Fee on manufacturers and importers of branded drugs, based on each individual company’s share of the total market.
  8. Increased Medicare portion of FICA payroll tax, rising to 3.8% from previous 2.9%, on couples earning more than $250,000 a year ($200,000 for     single filers); increased tax is also applied to investment income for the first time.
  9. Increased penalty for purchasing over-the-counter products with HSAs to 20%.
  10. Reduction in the number of medical products taxpayers can purchase using funds they put aside in HSAs and FSAs.
  11. Limit on the amount taxpayers can deposit in flexible spending accounts (FSAs) to $2,500 a year.
  12. Fee on insured and self-insured health plans to fund PCORI agency.
  13. Elimination of the corporate deduction for prescription expenses for retirees.
  14. Increase in taxes on health insurance companies, by limiting the amount of compensation paid to certain employees they can deduct from their taxes.
  15. End of special deduction for Blue Cross / Blue Shield organizations.
  16. 40% excise tax on “Cadillac” health insurance plans costing more than $10,200 for individuals and $27,500 for families (begins in 2018).
  17. Exclusion of unprocessed fuels from the existing cellulosic biofuel producer credit.
  18. Increase in corporate taxes by making it more difficult for businesses to engage in activities that reduce their tax liability.

8.    Is unfair
ObamaCare institutes basic intergenerational unfairness. Sixty-four-year-olds typically spend six times as much on health care as 18-year-olds. Logically, their health insurance rate should be six times higher. But ObamaCare says insurers can charge older folks no more than three times what it charges a young person. This 3:1 community rating forces millennials to pay about 75 percent too much for insurance, so folks in their early 60s can underpay by about 13 percent. Nice! (21)

9.    Is unnecessary
The tragedy of ObamaCare is that it isn’t even necessary. There are less coercive, less expensive ways to help the uninsured. Here are some simple ways to reduce health care costs and thus increase the number of insured people, without costly government mandates or price controls:

  1. Promote competition by passing a federal “health care freedom act” that makes participation in all federal health care programs completely voluntary for individuals.
  2. Permit individuals to deduct 100 percent of their medical expenses from their taxes.
  3. Allow people to buy health insurance across state lines.
  4. Allow everyone, including folks on Medicare and Medicaid, to have a Health Savings Account (HSA) (a pre-tax savings account for medical expenses coupled with a high-deductible health insurance plan).
  5. Provide targeted assistance, via the states, for the one percent of Americans who can’t afford good private health insurance because of a preexisting medical condition.
  6. Encourage states to reform their medical malpractice tort laws to reduce costs. (22) 

This robust agenda would benefit young adults and indeed all Americans by promoting patient power in the health care marketplace. It would help lower the excessive cost of health care, which is the real problem, by reducing meddlesome government mandates, which are the real culprit.

10.     Is insulting
ObamaCare insults young people’s intelligence by trying to make them believe they are benefiting from a policy that actually targets them for the biggest pain.

P.S. There’s an eleventh reason ObamaCare sticks it to young adults: its inevitable negative effects on the quality and availability of medical care. With the new system’s top-down, centralized approach, there will be higher costs, longer wait times, and incentives for doctors and hospitals to scrimp on care.

Conclusion: Burn Your ObamaCare Card!

ObamaCare was rammed through Congress in the name of “helping the uninsured.” What it really does is hurt the young. Two-thirds of the uninsured today are in their twenties and thirties. Most of the uninsured make a rational choice to go without insurance because government policies have made it too expensive, relative to its value for them.

The individual mandate, ObamaCare’s linchpin, will hit young adults the hardest. Eighty percent of 20-somethings who earn more than about $18,500 a year will see their health insurance costs go up as a result of ObamaCare. In California, the cost of a basic plan for a 25-year-old male will jump as much as 92 percent, in Ohio as much as 700 percent! The individual mandate, ObamaCare’s linchpin, is unjust, unnecessary and harmful to our health.

Millennials would be better off “burning their ObamaCare card” and resisting the “health care draft.” We call on Americans who can do so to “opt out” of the ObamaCare mandate and instead pay the small penalty tax “user fee” for being uninsured (or for not having ObamaCare-compliant coverage). (23)  If enough Americans join the resistance movement, we can hasten the collapse of the exchanges, reverse the Washington takeover, and pave the way for a health care system that works for, rather than against, patients. (24)

End Notes
1. Tens of millions of Americans are statutorily exempted from the individual mandate, including prisoners, illegal immigrants, certain religious sects, Native Americans, Americans living overseas, Americans who don't have to file a tax return, Americans whose employer offers them coverage that would cost them more than 8 percent of their income, and any American granted "hardship" status at the discretion of the Health and Human Services secretary. Patient Protection and Affordable Care Act, section 1501.

2. The following estimates are for insurance in the individual or nongroup market. That is, not for coverage received through the workplace or the government.


4.Louise Radnofsky, “Ohio Complains of Higher Health-Insurance Premiums,” Wall Street Journal, June 6, 2013,

5. Avik Roy, “The War On Bros: Exchange Subsidies Won't Protect Young People From Obamacare's Higher Insurance Premiums,” Forbes, June 7, 2013,

6.   ObamaCare supporters try to downplay “rate shock” figures like these, by noting that costs will go down for some older folks. True. But how much comfort is it for a millennial faced with a 92 percent premium increase to know that his 64-year-old neighbor will enjoy a 10 percent decrease? Supporters of the law also say that folks earning up to about $45,000 a year will get a relatively generous subsidy, on a sliding scale, to help them afford the premiums (courtesy of the taxpayer), if they buy coverage in the government exchange. Also true. But that taxpayer subsidy is only available to people whose employer doesn’t offer “affordable” coverage, as defined by the government (and whose state doesn’t offer Medicaid to people earning more than 100 percent of poverty). It’s hard for anyone to know for sure whether he qualifies for the subsidy and will remain qualified for it, since third parties (employers, state policy makers) are the ones making the critical decisions affecting his eligibility.

7. Here is now the individual mandate penalty works. The IRS will levy penalties on individuals who don’t buy government-approved insurance. The annual fines will equal the greater of $95 per adult or 1 percent of income (in 2014); $325 or 2 percent (in 2015), $695 or 2.5 percent (in 2016); and then will rise with inflation. The fine for uninsured children equals one-half the adult fine. Additionally, many people are exempted from the mandate, such as those for whom premiums exceed 8 percent of household income. Hence, as premiums increase, more and more people will be exempted from the mandate.

8.  Seven million figure comes from: CBO, Effects of the Affordable Care Act on Health Insurance Coverage—February 2013 Baseline,” February 5, 2013, Twenty million figure from: CBO, “The Effects of the Affordable Care Act on Employment-Based Health Insurance,” March 15, 2012, See also: CBO, “How Has CBO’s Estimate of the Net Budgetary Impact of the Affordable Care Act’s Health Insurance Coverage Provisions Changed Over Time?” March 20, 2013, CBO does think it possible that the number of people in employer-based coverage could go up, by 3 million; but the agency designates as its “best estimate” a 7 million person drop in workplace coverage

9. Douglas Holtz-Eakin and Cameron Smith (American Action Forum), “Labor Markets and Health Care Reform: New Results,” May 2010,

10. McKinsey & Company, “How US health care reform will affect employee benefits,” June 2011,

11. Deloitte, “2012 Deloitte Survey of U.S. Employers: Opinions about the U.S. Health Care System and Plans for Employee Health Benefits,” July 2012,

12. Some workers will lose what the law deems to be “affordable” benefits, as their employers offer “unaffordable” plans intentionally, knowing that doing so will drive their lower-income workers to look outside the firm for health coverage, which will save the employer money (because paying a $3,000 federal penalty fine is cheaper than paying for a $8,000 to $20,000 insurance policy). Some economists predict that we may see a lot of firms restructure themselves into two “sister firms”: one for higher-wage workers who will continue to enjoy company health benefits, and one for lower-wage workers who will be “dumped” into the government exchange. In other words, lower-income workers will get the short end. And guess which age group will be hardest hit by that? Yep, young adults.

13.  Brett Norman, “ACA Penalties Spawn ‘Skinny’ Plans,” PoliticoPro, July 16, 2013,


15.  The employer mandate will take effect on January 1, 2014. In July 2013, the Obama Administration surprised everyone by announcing it was unilaterally cancelling the mandate for a year, pushing the effective date back to January 1, 2015. While this cancellation is illegal, so long as the mandate is only delayed temporarily the incentives for employers to cut back on hours and hiring will remain essentially unchanged. The one-year delay will probably cause more employers to “dump” their workers into government health exchanges in 2014 than would otherwise have been the case. This, we suspect, is exactly what the Administration intends.

16. Here is now the employer mandate penalty works. The IRS will level a tax penalty on businesses with more than 50 full-time employees who fail to offer health coverage. The fine is $2,000 per employee after the first 30 employees. Employers will also be fined for failing to offer “affordable” coverage, as defined by the law. The fine is $3,000 per employee if coverage costs more than 8.5 percent of that worker’s income.

17. Chad Terhune, “Part-timers to lose pay amid health act's new math,” Los Angeles Times, May 2, 2013,

18. Estimate by Senate Budget Committee Republicans, based on CBO projections, for the years 2014-2023.

19. C. Eugene Steuerle (Urban Institute), "Fixing the Nation's Four-Tranche Universal Health System: Next Steps for Both Republicans and Democrats," October 28, 2010,

20. ObamaCare supporters protest that the law “doesn’t add a dime to the deficit,” citing the official CBO cost estimates for the legislation. But that claim doesn’t stand up to scrutiny. The law only appears “deficit neutral” on paper, because of massive budget gimmicks like these. In reality, ObamaCare will cost taxpayers dearly, with younger taxpayers getting hit the hardest. The law includes $700 billion in ten-year Medicare reductions (to help pay for the new entitlement) that the Chief Actuary of the Medicare program assumes are unlikely to take effect, because they would cause 15 percent of hospitals to go out of business by 2019. (Source: CMS Chief Actuary Richard S. Foster, Memorandum on Estimated Financial Effects of the “Patient Protection and Affordable Care Act,” as Amended,  April 22, 2010, Members of Congress will never voluntarily allow large numbers of hospitals in their districts to go out of business. They will move to provide federal relief. And the relief will most likely come in the form of reversing the Medicare payment reductions. The Chief Actuary also points out that the law assumes a series of deep, automatic, annual reductions in Medicare payments to doctors that Congress has historically never allowed to take place.

21. Avik Roy, “Putting the ‘Insurance’ Back in Health Insurance, Forbes, May 21, 2012,

22. Dean Clancy, What Should Replace ObamaCare, July 17, 2012,
See also: Avik Roy, “The Tea Party’s Plan for Replacing ObamaCare,” Forbes, April 7, 2012,

23. For many people, especially younger citizens, it will be more financially sensible to just pay the fine than to buy overpriced health coverage. The fine is small (only $95, or 1 percent of one’s income, whichever is higher, in 2014). If you refuse or neglect to pay the fine on your yearly tax return, the statute prevents the IRS from punishing you, other than by withholding any tax refund you are owed. So you could theoretically sidestep any penalty whatsoever by adjusting your income tax withholdings to avoid being owed a refund.

24. Jacqueline Bodnar, “FreedomWorks Announces “Burn Your ObamaCare Card” Campaign to Resist the Compulsory Health Care Law” (press release), July 11, 2013, See also: Dean Clancy, “Burn Your ObamaCare Card,” Washington Times, July 10, 2013,

          Republican Representative Barbara Sears Blocks Effort Against Obamacare   

In early March, Ohio State Representative Ron Young and Rep. Andy Thompson introduced a bill known as, “The Health Care Freedom Act,” (HCFA) that proposed a new line of defense against the Patient Protection and Affordable Care Act, or, Obamacare.  The bill, when passed, will prohibit health insurance companies in Ohio from accepting any federal funding that would trigger penalties for employers or individuals who aren’t compliant with Obamacare.  Wednesday, when the bill was brought up in committee, opposition arose; but not only from the expected side of the aisle.  While the Democrats did balk at the bill, Republican Majority Floor Leader Barbara Sears also took issue with HCFA.  One needn’t look too deep to understand why Sears wouldn’t want the HCFA to pass in Ohio.  Not only has she received a substantial amount of financial contributions from the health care industry, she currently works at a health insurance provider and recently passed her own bill which helps implement Obamacare.

Representative Sears is currently serving her third term in Ohio and over the years has amassed nearly $1 million in campaign contributions from various members of the health care industry.  In fact, her list of donors is a veritable who’s who of health care heavy hitters including: Humana, Merck & Co, Aetna, United Health Care, Johnson and Johnson and many more national players.  When she’s not representing the people of Ohio (or the health care industry) in the House, she works as the Senior Vice President of Employee Benefits at Roemer Insurance, who's website refers to her as a “resource,” as well as an employee.  Perhaps it was in the spirit of being a “resource” that led Sears to introduce HB 3, a bill that regulates the “navigators” established in Obamacare.

Navigators will be individuals tasked with helping citizens through the maze of Obamacare before they actually purchase insurance.  According to the federal law, their duties consist of:

 (A) conduct public education activities to raise awareness of the availability of qualified health plans;

(B) distribute fair and impartial information concerning enrollment in qualified health plans, and the availability of premium tax credits under section 36B of the Internal Revenue Code of 1986 and cost-sharing reductions under section 1402;

(C) facilitate enrollment in qualified health plans;

(D) provide referrals to any applicable office of health insurance consumer assistance or health insurance ombudsman established under section 2793 of the Public Health Service Act, or any other appropriate State agency or agencies, for any enrollee with a grievance, complaint, or question regarding their health plan, coverage, or a determination under such plan or coverage; and

(E) provide information in a manner that is culturally and linguistically appropriate to the needs of the population being served by the Exchange or Exchanges.

The law, which mandates navigators, specifically bars them from issuing health insurance and directs that funding for the new jobs must come from the state exchanges.  The issue of navigators has been surprisingly absent from the news, considering the large amount of money states will have to come up with to comply with this aspect of Obamacare.  California, notorious for their problems with debt, is slated to spend hundreds of millions of dollars to hire 21,000 navigators.

So why would a Republican propose a bill that seeks to further regulate a government created job that will cost the states untold amounts of money?  It would appear that insurance brokers across the country are getting nervous about the prospect of competition from navigators and have been lobbying for stricter standards on them.  One such group, the Independent Insurance Agents and Brokers of America, has been lobbying nationwide and their Ohio affiliate has contributed financially to Rep. Sears’ campaigns since 2010.  The passage of Sears’ bill restraining the navigators follows similar bills in Maine and Iowa. In Sears’ case, however, even setting aside the steep amount of money she has received from the health care industry, the fact that she works at an insurance agency that will benefit from her bill seems a conflict of interest.  

Her motives become even more suspect when considering her follow-up of speaking out against the HCFA, a bill that will protect consumers against federal penalties for noncompliance with Obamacare.  According to Sears, the HCFA violates the state constitution by preventing health insurance providers from selling a product.  “If I pass a law that tells my carriers that if they accept any funding under (Obamacare)... if I comply in that area, my penalty is suspension of my ability to accept new enrollees in the plan,” she stated.  Yet, as Rep. Young explained, the HCFA doesn’t limit insurance providers any more than the refusal by the state to enact its own exchange.  Why would a member of the health insurance industry resist an effort to combat the broad-sweeping mandates of Obamacare?  Does Sears really believe insurance companies won’t be able to sell their products without federal funding?  Perhaps it is the case that she believes insurance companies care more about receiving federal money then the consumers they are supposed to be protecting.  Considering her close ties to the industry, Sears may be, as she did in regulating navigators, representing the concerns of insurance providers instead of Ohioans.

The HCFA needs Rep. Sears support to continue to passage.  If she is truly representing the people of Ohio and not the health insurance industry and herself, to back a law protecting her constituents makes logical sense.  As the country counts down to Obamacare taking effect, all eyes will be on Ohio to lead the way out of the coming disaster.

Ask Representative Sears about her motives.

          Kasich Pitches Obamacare Surrender as Pragmatism   

Ohio Governor John Kasich announced his surrender to Washington spending gimmicks on February 4, calling for the expansion of Medicaid eligibility as part of his biennial budget proposal. Kasich, a Republican elected in 2010 and known as a fiscal hawk from his time in Congress, seeks to sell a key component of Obamacare as the pragmatic choice for Ohio.

In a February 6 RedState post defending his embrace of a law he has long spoken against, Kasich wrote, "Now I’ve proposed extending Medicaid health coverage to low-income and working poor Ohioans, in part, to limit further damage from Obamacare."

Obamacare was designed to push millions of Americans into one of the nation's most expensive and least effective entitlement programs, coercing states into compliance by making all federal Medicaid funding contingent on expanded eligibility. The Supreme Court's June 2012 ruling on the bill forbade Washington from cutting off existing funding to states that refuse to expand Medicaid, but Governor Kasich now aims to grow the program anyway.

"Without this move Obamacare is likely to increase health insurance premiums even higher in Ohio," Kasich continued. "Worse, it takes $13 billion of Ohioans’ federal tax dollars out of our state and gives it to other states—where it will go to work helping to rev up some other state’s economy instead of Ohio’s."

In short, Governor Kasich is promoting Medicaid expansion using the language and logic of socialized medicine advocates, treating bureaucratic cost-shifting as actual savings. Kasich even suggested Ohio must claim its "fair share" of Obamacare spending, demonstrating no regard for the fact that DC has run annual deficits exceeding $1 trillion each year since President Obama took office.

Prior to Kasich's February 4th announcement, conservative think tanks Opportunity Ohio and The Buckeye Institute both published critiques of a joint Health Policy Institute of Ohio / Urban Institute study which framed federal spending as free money. Kasich and his staff have cited the study as proof Ohio would come out ahead by expanding Medicaid eligibility.

Not only has the governor failed to address any of conservatives' substantive concerns - instead waving off disagreement as unreasonable ideology - he actually worked with the far-left Universal Health Care Action Network to develop talking points for Medicaid expansion.

In no way does Kasich's current rhetoric square with his past protestations against deficit spending.

"Instead of letting states develop innovative solutions to their respective challenges, new federal mandates will require more Medicaid spending and stick states with large and unsustainable costs," Governor Kasich wrote on March 22, 2010.

"Government shouldn’t be making promises it can’t keep – especially when it’s more than $14.5 trillion in the hole," Kasich said in his August 20, 2011 Weekly Republican Address.

Nearly $2 trillion in national debt later, Ohio's governor has allied himself with lobbyists for socialized medicine, the ultimate promise the government cannot keep. Kasich's abdication of his former fiscal hawk role will make it more difficult for conservative leaders to make a consistent case against entitlement spending and for market-based reforms.

Should the Republican-controlled Ohio General Assembly choose to support Kasich's Medicaid proposal, the state would "save" money by taking billions in federal funds to cover 100 percent of the expansion for several years. Though federal funding would quickly drop to 90 percent of Ohio's new costs even assuming Congress can borrow forever, care providers are pushing for the change because of numerous perverse incentives built into Obamacare.

Governor Kasich is widely expected to run for the 2016 GOP presidential nomination, but first faces reelection in 2014 in a state that went for President Obama last fall. However politically expedient it may be in the near term to help expand the entitlement state, history tells us how difficult it is to unring that bell.

Follow Jason on Twitter: @jasonahart

          Forum Post: RE: GP2015R2 Manual payments document number not defaulting from chequebook   
It seems on doing some forensics on our databases, that this is indeed down to the payables document management module getting switched on somehow - midway through the day on month end. Not amused as I was on holiday and ended up working it instead. Turned debtor document management and payables document managment off, now behaviour in cash receipts and manual payments are both back to how they used to be. Tim.
          Farm Income Forecast To Drop Again   
This year will be another tight one for farmers, at least if the federal government’s predictions are correct. Farm income will sink to its lowest point since 2009, according to the latest U.S. Department of Agriculture forecast . The USDA expects net farm income will drop 11.5 percent to $71.5 billion this year, which would mark the third-straight year of falling income. “(Net farm income) is a bottom-line measure and it includes money available for farms to expand, to invest, or to pay down debt,” says Jim Williamson, an economist at the USDA. “What this means, it’s indicating they have a lesser ability to do that.” Farmers expect another record harvest for corn and soybeans, the country’s most important crops, on top of recent bumper harvests. That oversupply is pushing down prices, leaving farmers in the lurch. Wheat country is faring no better, with prices at ten-year lows and exports slumping, in part due to a strong dollar. Dairy, meat, poultry and egg producers can all expect
          Farm Incomes Decline in 2015   
Net farm incomes in 2015 will be down 36 percent from last year, according to the US Department of Agriculture. That’s the sharpest drop since 1983, notes The Rural Blog . Farm income hit a record high in 2013. But since then, it’s dropped by 53 percent. Livestock income is also expected to fall 10 percent from last year. The USDA "expects growers to accelerate sales of 2015 crops this year to help generate more cash." But while livestock and crop receipts are falling, farm expenses aren’t falling as rapidly. All of this leads to a projected decline in farm asset values compared to 2014. Meanwhile, farm debt is expected to increase by almost 6 percent. The primary reason for the decline in assets is lower real-estate value. Land values have dropped about 2 percent since last year.
          Consultor de Crédito - CARGILL - São Paulo, SP   
Recommended reserves for bad debt, changes in global credit issues and updates on industry and high risk accounts)....
De Cargill - Thu, 06 Apr 2017 20:49:53 GMT - Visualizar todas as empregos: São Paulo, SP
          Inspector/Field Representative Legal Support Services - Veranova Properties Limited - O'Leary, PE   
Reliable vehicle, cell phone, computer, tools. Comfortable with and adaptable to dealing with distressed properties and customers or debtors....
From Indeed - Tue, 16 May 2017 15:35:26 GMT - View all O'Leary, PE jobs
          Inspector/Field Representative Legal Support Services - Veranova Properties Limited - Alberton, PE   
Reliable vehicle, cell phone, computer, tools. Comfortable with and adaptable to dealing with distressed properties and customers or debtors....
From Indeed - Tue, 16 May 2017 15:36:01 GMT - View all Alberton, PE jobs
          Orange County pays off the last of $1-billion bankruptcy debt   

When Todd Spitzer first ran for a spot on the Orange County Board of Supervisors in 1996, he did so with a promise to be a good steward of the public’s money.

“My campaign was focused under the shadow of the largest municipal bankruptcy at that point in the history of the country,” he said Saturday.

          McCurry (guardian) is a blatant liar

South Korea warns Japan over 'comfort women' accord after claims of no proof | World news | The Guardian

McCurry is talking about Korean comfort women here.

Let me note first that the Korean victims' testimonies were produced many years later after the war. Therefore, to quote from True Stories of the Korean Comfort Women

many can faintly remember the sufferings they endured.


Japanese historians seek revision of U.S. textbook over 'comfort women' depiction | The Japan Times

1)Yoshimi 吉見 従軍慰安婦


2 朝鮮からの場合

2)Hata 秦 郁彦 慰安婦と戦場の性(p192)


3)Park Yuha

When I examined the initial testimonies of former Korean comfort women, none of them claimed she was coerced by the Japanese military. The majority of the Korean women were sold by their fathers to the comfort station owners. Some Korean women were recruited on false pretenses by the Korean comfort station owners. Other Korean women were in the world's oldest profession, and they did volunteer to earn good money.

4)Sarah Soh

Comfort Women Articles by Scholars: "The Comfort Women" by Professor C. Sarah Soh

According to San Francisco State Professor Sarah Soh (author of the book The Comfort Women), women initially offered various explanations for working at comfort stations, such as supporting their families economically or escaping overbearing parents. Some women suffered abuse; others experienced more supportive conditions. Soh argues that all the women should freely share their experiences, without pressure to conform to the nationalist, anti-Japan narrative. She gives voice to the many types of comfort women, including the 61 who accepted the 1994 Asian Women’s Fund and were therefore branded traitors by activists.

5)Yuki Tanaka Japan's Comfort Women

most ”recruiting" seems to have been done by local Korean sub-contractor....
The most common expedient used in Korea was deceit --false promise of employment in Japan or in other Japanese occupied territories.(p38)

6)ATIS Research Reports No. 120 Amenities in the Japanese Armed Force, Nov. 15, 1945,

The contract they signed bound them to Army regulations and to war for the "house master " for a period of from six months to a year depending on the family debt for which they were advanced




”The story of the comfort women has often been distorted by Japan’s former adversaries ”

Don't assume McCurry(guardian) is reading Japanese newspaper.

McCurry does not report the reality of Okinawa

David McNeill doesn't fact-check comfort women issue while he let the U.S. military get away

McCurry's interpretation is difficult to justify,

Justin Mccurry lied again.

Economist has no idea about what has been happening between Japan and Korea.

Does Sharia hark back to the previous militarism?

          Recovery Specialist - Dynamic Recovery Solutions - Greenville, SC   
Making outbound and inbound telephone calls informing consumers of the past due debt. Dynamic Recovery Solutions*.... $12 - $14 an hour
From Indeed - Wed, 28 Jun 2017 16:16:53 GMT - View all Greenville, SC jobs
          Senior Manager Development (Oracle; Data Management/Architecture; Hadoop)   
Scotiabank - Toronto, ON - to develop and support a multi-platform based Collections application (i.e., Debt Manager). Understand Collection applications and architecture... & experience with Hadoop, Java, SQL, WebSphere & data architecture. Must be flexible to adapt to a dynamic environment, making quick and sound...
          Senior Manager Development (Oracle; Data Management/Architecture; Hadoop)   
Toronto, ON - to develop and support a multi-platform based Collections application (ie, Debt Manager). Understand Collection applications and architecture... & experience with Hadoop, Java, SQL, WebSphere & data architecture. Must be flexible to adapt to a dynamic environment, making quick and sound...
          A Success Story Approach on How to Become Debt Free   

Single Mom Assistance
Single Mom Assistance - Life Doesn't come with Manual it comes Mother!

How to become debt free? For many people this seems like a very daunting question. Most people feel like they can’t afford the monthly payments and thus never break the cycle of getting out of debt because they can’t make payments on top of regular expenses. While this is all true, there are many ways
+ Read More

A Success Story Approach on How to Become Debt Free

          DeVos Loosens For-Profit College Rules; More State Cash May Head To Religious Schools   
Hello and welcome to our weekly education news roundup. DeVos "presses pause" on for-profit college regulation Two weeks ago, we reported that Education Secretary Betsy DeVos was rolling back the "gainful employment" rule intended to rein in for-profit colleges. On Friday, she took a further step back. On July 1, colleges were supposed to begin disclosing information about program performance to students in their marketing materials. The schools now have an extra year to comply. "Once fully implemented, the current rules would unfairly and arbitrarily limit students' ability to pursue certain types of higher education and career training programs," DeVos said in a statement . As we reported on the details of the rule: "Colleges and universities were to be evaluated based on how many graduates are able to pay back their loans. The logic being, if too many students end up with low incomes and high debt, the program is not offering good value for money. Programs that consistently failed
          Looking for advice on dealing with Bailiffs/Debt collection companies. (UK)   
Hi, I was hoping to get some advice on how to best deal with Bailiffs, what charges I can contest and any information that might help me get through this rough patch I’m currently having. I am happy to clear the account, but I can’t afford too right now and they are insisting on instant full repayment. I’m also not sure i understand all the extra fees I’m seeing For context on my situation - I was diagnosed with a chronic illness and had to leave work and ended up on a low form of disability benefits. During this time I accidentally acquired two parking tickets and kept off paying them because I didn’t have any money and thought id be very soon back in work. A few months passed and my condition got worse, I wasn’t able to earn any money or even really cope so I left the country for a couple of months to recover with family. I’ve now come back to find the accounts passed onto a debt company called One Source - with agents visiting my flat. I very much want to properly solve this situation. So far, I’ve spoken to them and let them know the circumstances but I didn’t get anywhere very productive. The two tickets now come to £248 + £483 and they demanding I pay the £248 fine in full ASAP to avoid having a bailiff seize my possessions. The only other compromise they will make is putting me on a three instalment repayment plan for the £483, only/once i’ve paid the £248. This is something I can’t afford. I have asked for a breakdown of the costs and they look like this:
          Non-paid parking ticket turned to bailiffs - advice needed (UK)   
I was hoping to get some advice on how to best deal with Bailiffs after not paying two parking tickets, what charges I can contest and any information that might help me get through this rough patch I’m currently having. I am happy to clear the account, but I can’t afford too right now and they are insisting on instant full repayment. I’m also not sure i understand all the extra fees I’m seeing For context on my situation - I was diagnosed with a chronic illness and had to leave work and ended up on a low form of disability benefits. During this time I accidentally acquired two parking tickets and kept off paying them because I didn’t have any money and thought id be very soon back in work. A few months passed and my condition got worse, I wasn’t able to earn any money or even really cope so I left the country for a couple of months to recover with family. I’ve now come back to find the accounts passed onto a debt company called One Source - with agents visiting my flat. I very much want to properly solve this situation. So far, I’ve spoken to them and let them know the circumstances but I didn’t get anywhere very productive. The two tickets now come to £248 + £483 and they demanding I pay the £248 fine in full ASAP to avoid having a bailiff seize my possessions. The only other compromise they will make is putting me on a three instalment repayment plan for the £483, only/once i’ve paid the £248. This is something I can’t afford. I have asked for a breakdown of the costs and they look like this: Ticket one - total is £483 Debt: £173
          Comment on How to Create a Plan to Pay Off Debt by Http://   
It works very well for me
          Comment on How to Create a Plan to Pay Off Debt by   
Thanks, it's quite informative
          Kids & Money – #MoneyWithLeo   

Lately we have been teaching our girls about the value of money. When I was growing up this wasn’t really discussed and I ended up not understanding the serious nature of debt. Hubby and I are determined to take a different route with our girls, our eldest seems to have a natural understanding but Miss […]

The post Kids & Money – #MoneyWithLeo appeared first on Sober Julie.

          Orange County pays off the last of $1-billion bankruptcy debt   

When Todd Spitzer first ran for a spot on the Orange County Board of Supervisors in 1996, he did so with a promise to be a good steward of the public’s money.

“My campaign was focused under the shadow of the largest municipal bankruptcy at that point in the history of the country,” he said Saturday.

          Pro-Active Debt Recovery   

Positive Cash flow is the life-blood of any business and therefore, good credit control and collection techniques are vital. H.. Read More

          Pay Tax Yourself or Hire a Tax Professional?   

I recommend that everyone try to prepare their taxes themselves. Use free tax software, or downloadable tax forms to get a good idea of your tax situation. If your tax situation hasn't changed much since last year, you should consider preparing taxes yourself. Even if you hire a professional, having a rough draft of your tax return will focus your attention on the areas you need the most help with.

You will benefit most from a tax professional if you know what your key tax questions are. That's because you can call around to find an accountant who has experience with tax situations similar to yours. Finding a tax accountant is pretty easy during tax time, but be careful to choose an accountant who's right for you. Here are some tips.

Tips for Finding the Right Tax Accountant For Income Tax Filing.

Taxpayers of all types can benefit from hiring a tax accountant. But before you spend your hard-earned cash, here's some simple steps you can take to protect yourself, to find the right professional for your situation, and some questions to ask.

Understand Why You Need a Tax Accountant
You should take some time to focus on exactly what you need your tax accountant to do. Here are some common situations:

• Preparing your own taxes is time-consuming, stressful, or confusing.

• You want to make sure your tax returns are accurate.

• Your tax situation is pretty complex, and you need specialized advice and tips.

• You would like to pay as little taxes as possible, and need detailed planning and advice.

• You are facing a tax problem, such as filing back taxes, paying off a tax debt, or fighting an IRS audit.

• You run a business, invest in the stock market, own rental property, or live outside the United States.

Focus on your tax situation. If you are self-employed, find an accountant who deals with independent contractors. Same goes for investors, landlords, day traders, and expatriates. You have unique needs, and you deserve a tax professional who is experienced, reliable, and responsive.

Avoid fraudulent tax preparers. As US Government Information Guide Robert Longley reminds us, "If they get it wrong, you pay the penalty." What are the warning signs of a bad preparer? Anyone who refuses to sign your tax return, who asks you to fill out a blank form, or who charges a percentage of your tax refund as a fee. Not only are these dishonest practices, they are actually illegal under various federal and state laws.

Ask good questions. Experienced tax professionals love to talk tax and will help you plan ahead for next year's taxes. You should ask about their licenses, specialization, and fees. Here's nine questions to ask any accountant you plan to hire. One of the most important questions to ask about their privacy policy. You don't want your accountant sharing your sensitive tax information with third parties, so be sure what steps they take to protect your privacy.

Questions to Ask a Tax Accountant

The tax industry is constantly changing and tax professionals are subject to various federal and state regulations. Here are some questions you can ask to help ensure you find an experienced, trustworthy tax accountant:

• What licenses or designations do you have?

• How long have you been in the tax business?

• What tax issues do you specialize in?

• Do you have the knowledge and experience to handle my tax situation?

• What are your fees?

• Do you outsource any of your work? Do you perform the work personally? If not, what is the review process? Who signs the returns?

• How long, approximately, will it take to finish my taxes?

• What's your privacy policy? Will you share my tax information with any third-parties?

• Do you believe I'm paying too much, too little, or just the right amount of tax?

Finally, don't forget to bring all your tax documents. And while you are gathering your documents, be sure to remember to put your important tax records in a safe place so you can find them next year.

          Analyzing the Failures of Syriza   
Syriza Party, Alexis Tsipras, Greek left, Syriza failures, E.U. bailouts, Greek austerity policies, Costas Lapavitsas, Troika, E.U. debt crisis

So many put their puts hopes into Syriza; so many were bitterly disappointed.

          Chief Compliance Officer - TrueAccord - San Francisco Bay Area, CA   
We deploy technology, machine learning, and data science to innovate and optimize how debt is collected. The Chief Compliance Officer (CCO) is responsible for...
From Indeed - Sat, 17 Jun 2017 02:01:35 GMT - View all San Francisco Bay Area, CA jobs
          Lubricants Jobs 2017 in India Company Veedol   
Lubricants Jobs 2017 Opening in India, UAE Private Oil Company Veedol For Freshers To Apply Online Lubricants Sales Jobs 2017.

Lubricants Jobs 2017 Invited Application Form to fill Sales Manager, in charge in Lubricants Company Called Veedol. So Veedol is premium and most promised company supported by its brand by costumers. From Official website candidates can check according to their qualification, Age limit and Location. There are many companies which engaged in producing Lubricant and Oil required in Auto, Car, Bikes and Scooters. .

About Veedol: THE WATER OIL CO. LTD An established name in the lubricants  industry , with a turnover of more than Rs. 1,300 / - crore and having a strong market presence through its VEDOL BAMND , Invites application for the for the following position for northern region .

Lubricants Jobs in Delhi: Officer (accounts) (position: Delhi)

Preference: CA/AICWA with at least two years experience. The incumbents will be responsible for preparation of MIS, Budget, inventory control, monitoring of debtors etc.

Age Limit: Age around 25 -30 years.

Officer (Industrial sales) (position:  Delhi) 

Experience: Graduation in mechanical / chemical university from recognized institute .with at least 3m years experience industrial sales. His /her age should be around 25 years. The incumbent may be responsible for developing and coordination industrial sales activities in northern region.

Lubricants Jobs in Punjab: (Position: Ludhiana – 1 & Haridwar – 1)

Territorial sales in charge: (industrial sales)

Eligibility Criteria: Candidate should be science graduate with 5 years experience or graduate engineer with at least 2 years experience in industrial sales. Age around 25 years. The incumbent will be responsible for developing and servicing the sales industrial segment.



Candidate should be a science graduate with 5 years experience or graduate engineer with at least 2 years experience in sales. His / her age should be around 25 years. The incumbent is responsible for promoting our product, expending dealer network, achieving sales targets and developing the market in virgin areas.

Educational Qualification: Candidate should be a graduate with the proficiency in computer application preferably in SAP with minimum 2 – 3 years experience.

Age Limit: His / her age should be around 25 – 30 years. The incumbent will be responsible for SAP operation and purchase / commercial function of northern railway.

Selection Process: Candidates will be selected on basis of Interview and Group Discussion.

Address: Executive Director, Tide Water Oil Co. (India) Ltd. “Seshachalam Centre”, 10th Floor, No. 636/1, Anna Salai, Nandanam, Chennai – 600 035, Ph.: 044-3096 9000/2434 9050


          Some Scary Statistics   
More People Will Declare Bankruptcy this year than GRADUATE COLLEGE! This is a SERIOUS problem in America. We have now allowed debt to be an acceptable and encouraged way of life yet every year we set a new Bankruptcy record. … Continue reading

New York’s next big corruption scandal

There was a stunning revelation in the corruption trial that convicted Dean Skelos: Gov. Andrew Cuomo’s favorite Republican, Nassau County Executive Ed Mangano, planned to “assert Fifth Amendment privilege” if called to testify about the AbTech contract, the prosecutor told the judge in a sidebar — and the feds were “not prepared to immunize” him.
AbTech is the Arizona-based environmental company that saw its financial struggles start to turn around in 2013 with a surprising $12 million public-works contract from Nassau County — after hiring Skelos’ son, Adam.
Mangano, by saying he’d take the Fifth, was asserting his fear that he’d incriminate himself if he answered prosecutors’ questions about the awarding of that contract.
This should’ve been front-page news on Long Island — particularly in the wake of allegations that federally indicted restaurateur Harendra Singh arranged and paid for some of Mangano’s vacation trips and comped him thousands of dollars of meals.
Plus, the guy Mangano has publicly called his “best friend,” First Deputy County Executive Rob Walker, did testify against Skelos. And while Walker received federal immunity for taking the stand on that case, he has no protection from other ongoing federal investigations involving Nassau County contracts for campaign donors and business pushed to a personal friend.
Finally, taped conversations between Skelos and Mangano, played at the trial, place the county executive in the mix of the AbTech scandal.
All this when Mangano’s administration is crumbling and the county’s finances are cratering.
A June 2014 report from the state comptroller suggested Nassau’s Industrial Development Authority skirts the law and grants sweetheart deals to the politically connected. The next month, an investigation by acting DA Madeline Singas concluded Nassau’s contracting process is a “recipe for corruption” because it’s not insulated “from improper influence, manipulation, collusion and fraud.”
A proposal like the AbTech deal, the DA observed, “illustrates a systemic failure of Nassau County’s procurement and contract management process to ward off corruption.”
As for Nassau’s finances, Mangano has brought the county to the edge of fiscal insolvency — and kept it there, even as homeowners pay the highest property taxes in the state. The county’s operating deficit, based on Generally Accepted Accounting Principles, was $189.2 million in fiscal year 2014 and is projected to hit $188.2 million in 2015, $211.4 million in 2016, $302.1 million in 2018 and in 2019, a staggering $351.3 million.
Sadly, the governor has contributed to this fiscal mess. To ingratiate himself with Mangano, Cuomo in 2013 appointed local political hack Jon Kaiman as chairman of the Nassau County Interim Finance Authority (a state control board on which I served as a director from 2010 to 2014) instead of appointing a municipal-finance expert.
Kaiman, who also gets paid $150,000 a year as Cuomo’s amorphous Long Island Sandy recovery czar, negotiated in 2014 what he called a cost-neutral wage settlement with Nassau’s public-employee unions. The ludicrous deal has actually driven the county deeper into the red to the tune of $70 million a year.
Coincidentally, after the dumbing-down of the financial control board, Republican Mangano endorsed Democrat Cuomo in his bid for a second gubernatorial term.
Because the agenda of Nassau’s special interests took precedence over the general public, the law is breathing down the neck of Mangano and his GOP confreres on multiple fronts. Mangano, government vendors, the county’s flawed bidding process and the financial records of Republican clubs are being investigated, separately or in related investigations.
Hence, to avoid further corruption, Cuomo’s award on Dec. 10 of about $50 million in capital grants and state tax credits to Nassau County for government and private-sector projects must be postponed until Mangano’s recommendations — like the $3 million for county-owned Nassau Hub infrastructure improvements and Grumman studios run by a Mangano donor — are vetted to ensure they weren’t driven by cronyism or campaign contributions.
While the mounting scandals might force Mangano to resign from office, his misguided and reckless decisions will have long-term consequences.
Current taxpayers, their children and grandchildren will be paying off the debt incurred to finance his hijinks for decades to come.
George J. Marlin’s latest book is “Christian Persecutions in the Middle East: A Twenty-First Century Tragedy.”

          Orange County pays off $1 billion bankruptcy debt   
Orange County has paid off the last of $1 billion worth of bonds it raised to haul itself out of bankruptcy. The Orange County Register ( ) says after 22 years, the county on Saturday delivered the final payment to bondholders.
          HEADS UP 2/15   
Top World News Now                 
February 15, 2013

United States
Environmentalists Press Obama in Heated Oil Pipeline Debate
NRA exec accuses Obama of gun 'charade' at State of the Union
Kerry: Moves Against North Korea Would Scare Iran Off Nukes
Senate Republicans Block Hagel Nomination For Defense Secretary
Key US general backs keeping Afghan forces at peak strength
Missouri Democrats Introduce Legislation to Confiscate Firearms – Gives Gun Owners 90 Days to Turn in Weapons
Transocean to pay $400 million for 2010 Gulf of Mexico oil spill
High taxes force more Americans to renounce their citizenship
600 children living in Washington, DC homeless shelter
Conspiracy Theorists Leap at the Confusing Case of Dorner’s Multiple Wallets
Body in burned cabin ID'd as Christopher Dorner
Cruise ship nightmare nearing end for passengers after hellish trip
CDC Warns of Super-Gonorrhea

Russia activates ‘Operation Fortress’, 20,000 troops after air defense forces shoot down space object
Putin orders Russian security on high alert before Olympics
Putin Warns Foreign NGOs Against 'Meddling' In Russian Affairs
Putin Orders FSB to Set Up Anti-Hacker Defense
Putin: Russia will not tolerate foreign pressure
Foreign Ministry: Russia ‘Ready’ to Consider Further Nuclear Arms Cuts
Army Chief: Russia may be drawn into resource wars in future
Russian Army Commissions Bioengineered Liver for $17 Mln
Russia charges Georgian politician with plotting mass unrest
Constitutional Court: Authorities must not politically discriminate against protesters
Six Suspected Militants Killed in Dagestan Operation
Very strong earthquake in a sparsely populated Siberia area
Thousands of Russian convicts may go untracked if bracelet batteries die

Xi's Vows of Change in China Belie Private Warning
Xi Jinping Prepares to Deal With New 'Gang of Four'
Beijing ramps up propaganda war to bolster Diaoyus claim
China's environment unaffected by DPRK nuclear test so far
China's Netizens React Colorfully to N. Korean Nuke Test
Nuke test gives US excuse to boost its military
S. Korea stages large-scale drills following DPRK nuke test
South Korea flexes missile power after North test
The Real Japan-China Conflict
7 dead, 18 injured in China after man sets off bomb over child custody dispute
Depressing landmark reached, 100th Tibetan self-immolates
Tibetans commemorate centennial of 'Tibetan independence'
Clues to why most survived China's melamine scandal

Major warns Cameron's EU referendum is a 'gamble'
EU warns Tories that UK security opt-out 'doesn't make sense'
UK Military Flies Ghana Troops, Equipment to Mali
Britain warns of Syria jihadist threat to Europe
British MPs to receive on-the-job mental health aid
UK Lawmakers Say Credit Schemes Not Working
Another policeman held in UK graft probe
New SARS-like virus shows person-to-person transmission
Deaths, lies and the NHS: Shocking new healthcare scandals emerge in UK
UK Arrests Men in Horse-Meat Probe
Horsemeat: Bute Found In Carcasses In UK
UK soap opera star faces child sex charges

Europe Rejects Critics of 'Robin Hood' Tax
Austerity's children becoming Europe's "lost generation"
Economy in Europe Contracts More Than Expected
Pope rounds on rival cardinals and their 'sins against unity'
Man sets himself alight at Rome airport
Berlusconi defends need for bribery in winning contracts
Monte Paschi's former finance chief held in Italy
Italy unemployment crisis reaches alarming rate
Foreign investors set to sue Spain over energy reform
King Juan Carlos fights new pressures to abdicate
Greece: Alexis Tsipras raises the political stakes
Interior Ministry: Mafia plotting to crash Serbian Air Force One

Un-Natural Gas: Fracking Set to Shake Up German Campaign
Germany and Spain Move to Curb Green-Energy Supports
German airports security staff strike continues Friday
Germany to help Israelis stuck in unfriendly countries
Roma in Germany forced into abject poverty
Barbarians at the Gate
Reports Of 'Neo-Nazi' Guards At Amazon Warehouses In Germany Creates Fresh Scandal
Tempting PhDs lead politicians into plagiarism
Germany's Great Church Sell-Off
Swiss push reconciliation plan for Sri Lanka
Switzerland prepares to sit at G20 head table
Norway Ready to Use Rate Cuts to Cool Krone

Hollande Tiptoes Toward Raid on Pensions Under Pressure From EU
Hollande says France ok with India civil nuclear liability clause
Hollande in India to sell warplanes, nuclear power, metro construction
Tunisians denounce France interference
The European Slump: France Gives Up Lowering Its Budget Deficit
French Goodyear workers protest against closure of Amiens Nord plant
France moves step closer to legal euthanasia
French firm suspected as culprit in spreading horsemeat scandal
France to return 7 paintings looted during WWII
War For Global Energy Supremacy-World War III
Libya Braces for Unrest on Anniversary of Qaddafi Revolt
Syrian rebels down 2 government planes
Syria rebels capture oil field and military base
Saudis say Syria death toll may be 90000
As war in Syria continues, refugees in Turkey open a high school
Armenia tries to help as Christian Armenians flee Syria
In Mali town, counter-insurgency task ties down French
French incursion frees few slaves in Mali
Official Details French Role in Mali
US Pledges to Help Mali With Long-Term Stability
Insight Into Today’s News
US Media Yet Again Conceals Newsworthy Government Secrets
Now We Know: War Is Murder
It Can't Happen Here?
The Andromeda Strain, Yes. Jesus, No. Your Tax Dollars at Work.
Remember 1994
Morningland Dairy destroyed by feds, $250,000 inventory stolen by government thugs during armed raid
Department of Homeland Security Targets Gun Collector
CIA Adviser Warns of 'Financial Weapons of Mass Destruction'
Debtors Prisons In The US Are Rapidly Filling With People Who Can’t Pay Bills

Netanyahu threatened media over Prisoner X
'Prisoner X' took part in Mossad operation of killing Hamas operative in Dubai?
Lawyer: ‘Prisoner X’ negotiated plea bargain before suicide
Israeli Security Delegation Arrives for Talks in Cairo
Border area on alert as Israel carries out drills
Israel shells out almost a fifth of national budget on defense
Israel falls 20 places in World Press Freedom Index
Leading Rabbi Says Let Haredim Guard Their Own West Bank Cities
Israeli Siege Snuffing Out Gaza's Camel Industry


Morsi's Egypt Poised to Criminalize Protest
Morsi's graduate son snares plum Egypt job at 66 times lowest salary
Salafis open fire on Morsi
Ruling party aims for outright majority in new parliament
Egypt political forces call for symbolic funeral of slain boy potato seller
Egypt Military Offers Rare Apology for Child Death
Teenage protester shot dead amid clashes on Bahrain uprising anniversary
Saudi Minister Puts Young Royals in Succession Spotlight
Bahrain condemns Iran's statements

Ahmadinejad bluffed that Iran is now a 'nuclear state'
IAEA, Iran Fail to Reach Nuclear Deal
Kerry urges Iran to make "real offers" in nuclear talks
Gulf states reject Iranian suggestion that Syria, Bahrain be discussed at nuclear talks
Iran denies transferring arms to Somali militants
Iran Using China To Smuggle Nuclear Material? ISIS Report Raises Concerns
Iran Mourns Senior Commander Killed in Syria
Iran Begins Its Election-Season Web Crackdown a Few Months Early
Pak-Iran pipeline deal likely to be inked today

Venezuelan students protest outside Cuban Embassy as Chavez remains out of sight in Havana
Venezuela to Limit Medicine Prices After Chavez Devaluation
Maduro: Chavez Undergoing “Very Complex and Tough” Treatment
Venezuela's move to devalue is desperate
Chavez Devaluation Puts Venezuelans to Queue Before Price Raise
Capriles: Venezuela needs no devaluation, but stop handouts
US Imposes Sanctions on Venezuela's Cavim Arms Company
Farc rebels kill seven Colombian soldiers in blow to peace process
Eastern Colombia locked into neo-paramilitary war

Witnesses of Argentina major train accident fear for their lives
Woman in Argentina marries twin sister's convicted killer
Rousseff Stumbles on Energy
Brazil's Hydroelectric Dam Boom is Bringing Tensions
Brazil Papal Contender: Place of Birth Irrelevant
Argentina confirms quizzing of Iran suspects
Epic Glacier Collapse In Argentina: Ice Bridge Connected To Perito Moreno Thunders Into Lake
Argentina Continues Its Defiance of Ghana in the Courts
Chile's Mapuche Indians clash with police in Collipulli

A glimpse of Nieto's new crime fighting strategy
Mexico arrests six suspects for rape of Spanish tourists

Original text

 “The News You Need Today…For The World You’ll Live In Tomorrow.”





Brennan converted during an assignment to Saudi Arabia






you will quickly be able to note and compare the Obama treacherous and even treasonous anti-American activity among what she reports.


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Click Here For More Sorcha Faal Reports

Sister Maria Theresa is the 73rd Sorcha Faal of the Sorcha Faal Order, Elected as Mother Superior 3 February 2007
 “Conspiracy theorists concentrate their time on transmuting the "base matter" of current events, official stories, propaganda and public relations into the gleaming golden truth buried within. They do this through the very right-brained activity of uncovering and inventing connections between disparate elements.
They create story-systems to understand and explain events - essentially a religious activity. For whatever reason, it’s much easier for us to deal with our internal contents by projecting them into the world around us. These outward signs inevitably become carriers of the archetypal content and psychodrama latent in the seeker.
Conspiracy theory also overcomes the strictures of literalism and the problems of simplistic thinking by experimenting with multiplicity of meaning. Ordinary events, people and signs become symbols bristling with complex, malleable, even contradictory meanings. Mystery is revived and idealized. Facts become more than the sum of their parts. Theory becomes poetry and even theology.”
The Most Critical Books Published By The Order Of The Sorcha Faal You Should Own: Picking up the Pieces: The Most Important Book Available For You To Be Able To Survive Americas Growing Police State   The Partisans Handbook   Code Red: The Coming Destruction Of The United States   “Dirty, Filthy, Christians”: Treatise On The Most Dangerous Death Cult In Human History   Battle Begins For Throne of This World: The Return of the Einherjar Warriors   War Of The Sacred Code: The True Secret Of 2012

Top World News Now                 
February 9, 2013

United States
Hundreds of thousands already without power, buried under snow from ongoing blizzard
Obama: 'No reason' for automatic Pentagon cuts
Obama to propose 1 percent pay hike for federal employees
White House won't comment on Brennan's waterboarding dodge
Clinton more popular than Obama, polls show
White House Delivers Dire Warning About Automatic Cuts
Lawmakers test legal waters for regulating drones
Christopher Dorner manhunt: Search for ex-LAPD cop goes on amid California snowstorm
Cop-killer on the run: Largest manhunt in LAPD history spreads to three US states and Mexico
US Air Force veteran added to no-fly list after visiting sickly mom
FBI Sting: California man arrested trying to blow up Oakland Bank of America branch with "Taliban help"
Health Officials: Worst of Flu Season May Be Over
KKK promises the largest rally in the history of Memphis after Confederate parks are renamed
Ohio Amish beard-cutting ringleader gets 15 years  

Putin: Countering extremists key task for law enforcers
Forward Russia: Grand Sochi project highlights Putin ambition
Migrant workers suffer for Putin's Olympics
Putin presents presidential awards to young scientists
Russia targets Uganda as big market for weapons
Retired intelligence officer gets 13 years for coup plot
New Russian citizens to get call-up for military service
‘I solemnly swear!’ – Russian citizen’s oath considered
Married couple, forced apart in communist Russia, reunite by chance and remarry
Russia, US in Hasid books brawl: Moscow wants recourse over $50,000 daily penalties
In Russia, brazen murder of Chernovik founder is unsolved
Russia's Black Earth Farmers Switch to Corn, Oilseeds for Profit
Reform Quickly or Lose Deals, EU Tells Ukraine
Fascism rehabilitated in Ukraine?

Xi Jinping says he welcomes criticism; critics aren’t so sure
Xi Jinping promises a cleaner, greener energy future in China
Chinese leaders send greetings for Lunar New Year
China Denies Directing Radar at Japanese Naval Vessel and Copter
Dangerous dance around disputed islets is becoming ever more worrying
PLA Navy to conduct training drills in western Pacific over Lunar New Year
China threatened by overseas hackers
Former Guangdong official stripped of Party membership
China retrieves defaulted payments for migrant workers
China jails Tibetan man for inciting secession
HP Directs Its Suppliers in China to Limit Student Labor
After Myanmar Violence, Almost 6,000 Rohingyas Arrive in Thailand
North Korea nuclear test may cause volcano eruption near Chinese border
South Korea in 'first strike' alert over tests

United Kingdom
Cameron savors EU budget win as battles loom
Cameron: 'Horsemeat story is shocking'
Britain opens criminal probe of horse meat contamination scandal
Clegg faces a fresh attempt to oust him as Liberal Democrat leader
2.3 million deprived kids absent from UK poverty data
UK investigating allegations of child sex abuse at former RAF base in Germany
Border agency backlog keeps Britons and their foreign spouses in limbo
Experts say DNA crime-fighting in UK 'lagging behind'
New evidence of UK complicity in Libya torture
Tax Rules Waived in Britain to Lure Athletes
Saga of Speeding Politician Rivets Britain
Whitehall spies could already be operating in Scotland
Refuelling and rendition: Ireland's role in the war on terror

European Union
EU budget cut ushers in austerity for first time in union's history
EU leaders agree to push for US trade deal
EU may force banks to help set Euribor to keep it clean
EU Court Strikes Down Swift's Blockade Against Iranian Banks
Greece gets silver lining to budget plans for coming years
Growing Police Brutality in Greece: The Hidden Face of the Crisis
Armenia holds 2 in attack on presidential candidate
Anarchists Claim Responsibility for Attempted Bombing in Spain
Moroccan suspected of being terrorist arrested in Spain
Cyprus Presidential Candidate Wary of EU Bailout Terms
Italy Vote Seen Inconclusive as Risk of Second Ballot Grows
Birth Defects In Multiples On The Rise In Europe

German Shale-Gas Fracking Rules Sought by Merkel Coalition
Germany Warns on Currency Depreciation
Germany posts second highest trade surplus in 60 years
Topless activists denounce female circumcision at Berlin film festival
German weapons case pits man against gun clubs
Minister's Heritage Sparks Racism Debate
New doubts cast on Holocaust account Nazi child mascot
Swiss Unemployment Returns to a 2.5 Year High
Gun control debate rages in Switzerland
Switzerland Justice Minister Returns Home
Taipei Ministry to ask Switzerland to arrest Zain Dean
Global warming to bring more rain to hydro-dependent Norway
EON Plans Hundreds of Megawatts of Wind Power in Norway, Sweden

Illegal Roma evictions in France continue under Hollande
Ayrault says no current plan for Peugeot stake
Ex-US envoy: $17M French ransom funded al-Qaida
France plays down report of ransom paid for Niger hostages
Europe Is Watching as France Weighs Options for Peugeot
French charge north in Mali, Bamako shooting kills two
Symbol of French Republic defaced in art attack
Hollande Eschews Monarch-Style Presidential Monument in Crisis
War For Global Energy Supremacy-World War III
Jets roar over Pacific skies as US military gathers allies in drills, to keep ahead of China
Shooting erupts amid reports of mutiny in Malian capital
Suicide bomber blows himself up near Mali soldiers, first attack of its kind
French intervention 'will cost Mali its independence'
Rebel push into Damascus raises fears of long fight coupled by mass exodus
Syria says 'no truth' Israel targeted convoy
UN Says 5000 Syrians a Day Are Now Fleeing War
Syria military factory blast kills 54
Jihadist group Jabhat al-Nusra is taking over Syria's revolution

Insight Into Today’s News
US Media Yet Again Conceals Newsworthy Government Secrets
Now We Know: War Is Murder
It Can't Happen Here?
The Andromeda Strain, Yes. Jesus, No. Your Tax Dollars at Work.
Remember 1994
Morningland Dairy destroyed by feds, $250,000 inventory stolen by government thugs during armed raid
Department of Homeland Security Targets Gun Collector
CIA Adviser Warns of 'Financial Weapons of Mass Destruction'
Debtors Prisons In The US Are Rapidly Filling With People Who Can’t Pay Bills

Netanyahu's coalition-building efforts are guided by suspicion and skepticism
Livni will be appointed as minister in charge of peace process
Defense Ministry suspends ties with six firms over alleged fraud
Tel Aviv Hepatitis A outbreak may stem from open-air markets
Abbas to Ahmadinejad: Talk more about Palestine, less about destroying Israel
Palestinian jailed for Abbas Facebook 'insult'
Abbas Meets With Leader of Gaza Terror Group in Cairo
Hamas Weighs Options For Recognizing Israel
Palestinian prisoners in Israel 'smuggling out sperm'

Despite US opposition, oil trade with Iraq is legal, PM Erdoğan says
South Cyprus condemns Erdoğan's remarks calling him a 'bully'
Turkey says has spent $600 million on Syria refugees
No strong EU without Turkey, says Italian envoy
Turkey-US Tension Develops Over Al-Qaeda Member  
Ailing ex-general fights for survival after sentence delay
Cargo ship crashes into a passenger seabus in the Bosphorus
Protests grow in Sunni areas in Iraq
Iraqi Kurdistan presses on with oil pipe to Turkey

Morsi: Egypt, Turkey to establish joint chamber of commerce
Clashes in Egypt as anti-Morsi camp demands change
Egypt Slams US Senator's 'Morsi Is Our Enemy' Comments
          WHO IS OBAMA - PART TWO   

Who is Barack Obama? – Part II – A Terrifying Analysis After the Election

From the Brilliant Dinesh D’Souza – Obama’s Next Four Years
Can Obama change?
By Dinesh D’Souza
Published November 13, 2012
Listening to President Obama speak on election night, I thought of the moment in “The Lion King” when Scar took over Pride Rock. (You have to see the movie to just appreciate D’Souza’s right-on analogy) My sentiment for America was perfectly captured by the accompanyin g song, “Be Prepared.”

Be prepared, America, for another $5 trillion dollars in debt. That means America would be over $20 trillion in debt, one half of it added by one man, Barack Obama.
Be prepared for higher taxes on those who are pulling the wagon, and more benefits for those who are sitting in the wagon.

Be prepared for further restrictions on hydraulic fracturing and oil drilling in America, even as President Obama promotes and subsidizes oil drilling in developing nations.

Be prepared for transfers of wealth away from America and to the rest of the world.
This is what we as a country have voted for.

Be prepared, also, for the further diminution of American power and influence in the world. This involves our allies falling, one by one, in the Middle East, while the radical Muslims consolidate their power in Iran, Egypt and elsewhere.

Ultimately just as Reagan was largely responsible for the fall of the Soviet Union, President Obama may be credited by history for helping to rest ore Islam as a global power, which it has not been for three centuries. By 2016 America could cease to be the world’s sole superpower, and have become rather a weak giant, a kind of second Canada. This, too, we have risked by giving President Obama a second term.

These predictions are not conjecture but rather projections out from what President Obama has been doing in his first term. As he suggested to Russia’s then-president Medvedev, Mr. Obama now has more flexibility to make the concessions and pursue the objectives that he really wants. He is, at least in foreign policy, untethered to public opinion, and answerable only to his own conscience. (a concept completely alien to narcissists) disk

For me, this is a scary prospect. I can see America in 2016 as a poorer, weaker nation, and this would make Americans frustrated and angry.
But why should President Obama care?

He would, as he cleared out his desk, feel the profound satisfaction of a man who had single-handedly rearranged the political and economic map of the world. He would have helped redistribute wealth and power globally, and th us restored the world as it was before colonialism. His reward would be that still, small voice inside his head telling him, “Well done thou true and faithful servant.”

Consequently you can imagine the amusement with which I watched pundits, including Democratic pundits like Lanny Davis, counsel President Obama to be like President Clinton in his second term. Sure, Mr. Clinton pivoted to the center, recognizing that he was governing a closely divided country. 

Clinton, however, was committed to American prosperity and American greatness; Obama isn’t. Clinton also wanted to be liked by his people, the American people. For Obama, to borrow a quotation from his mother, “These are not my people.” Obama’s commitments are global.

So I don’t expect Obama to change. I have argued in my book “Obama’s America,” and implied in my film “2016,” that he cannot change. He is like the toy soldier who walks into the wall and keeps going. That is the only Obama we can realistically expect for the next four years.
And yet …

I watched Obama closely on election night, recognizing the familiar hubris and bravado, I thought to myself: how brilliant he is, how he strides across America like a colossus, how he may have assembled a new and enduring majority, how this is his America now, how this man whose story is possible only in America has now twice been entrusted by America with the highest office in the land.

Isn’t that enough to make a man want to defend and advance the interest of his country? Isn’t it sufficient to make Obama seek to protect the economic welfare of his fellow citizens over that of the citizens of other countries? Ideology may not compel Obama to move in these directions, but his own self-image might. Obama has been raised on high by the American people, who are looking to him to lead them not down the hill but onward and upward, to greater and higher things.

How incredible it would be if Obama responded to this great trust by proving himself worthy of it. That would truly make him one of America’s great presidents. He would even, in this way, be helping the world, because a strong, thriving America is good for the security and prosperity of the world. Maybe this very smart man can rise above his past and figure that out.

(But, don’t hold your breath and may G-d have pity upon us and the useful idiots that kept this diabolical man in power) jsk

Dinesh D’Souza has had a 25-year career as a writer, scholar, and public intellectual. A former policy analyst in the Reagan White House, D’Souza also served as John M. Olin Fellow at the American Enterprise Institute, and the Robert and Karen Rishwain Fellow at the Hoover Institution at Stanford University. He served as the president of The King’s College in New York City from 2010 to 2012. Dinesh D’Souza, narrator and co-director of the film “2016: Obama’s America,” is the author of the bestselling new book “Obama’s America: Unmaking the American Dream.”

          Your credit score may jump starting this month - CNBC   


Your credit score may jump starting this month
That's because improved standards for utilizing new and existing public records were implemented on Saturday for the three major credit reporting companies. As part of this change, a majority of civil debts and tax liens are excluded, which means some ...
Some consumers could see a boost to their credit scoresReading Eagle
Black marks fall off credit reports starting this monthColorado Springs Gazette
Why millions of consumers' credit scores will suddenly improve this weekendMarketWatch
Palm Beach Post -CNNMoney -Nasdaq
all 46 news articles »

          Paralegal IV Supporting the USAO   
MN-Minneapolis, FSA, a rapidly growing professional services company delivering highly qualified personnel in support of the government's mission, has an immediate vacancy for a Paralegal IV. This position supports the Financial Litigation Unit (FLU) at the USAO. The FLU litigates debt collection issues and enforces collection of criminal and civil debts owed to the United States or to victims of federal crime. C
          CPM opposes Air India's disinvestment   
The CPM has "strongly opposed" the government's approval for Air India's disinvestment, saying it was not for saving public money, but to sell national assets for a song to private companies.

In a statement, the CPM Polit Bureau said this decision has been taken at a time when, after prolonged losses since 2008, the airline has started achieving operating profits of Rs 105 crore for 2015-16 and an estimated operating profit of around Rs 300 crore in 2016-17.

"Air India was crippled and burdened with debt due to monumental miscalculation and certain wrong decisions taken by successive governments at the Centre. It is now being made the scapegoat and sought to be privatised," it said.

The Union Cabinet on Wednesday gave an "in principle" nod for divesting stakes in Air India and its five subsidiaries and formed a group of ministers under Finance Minister Arun Jaitley to work out the modalities.

"The privatisation of Air India is being made with a bonanza to the prospective private buyer &mdash; the write-off of the Rs 30,000 crore debt burden. The privatisation of Air India is not for saving public money but for handing over national assets for a song and defrauding the exchequer for the benefit of private companies, both domestic and foreign," it said. The CPM said the sale of Air India is part of the overall privatisation drive of the government which is "against national interest".

          Credit Controller   
We are excited to be looking for a Credit Controller on a 2 month contract for our reputable client based in Tonbridge, Kent. 37 hours per week, Monday - Thursday 08:45 - 17:00 and Friday 08:45 - 16:30. The main purpose of this role is to maintain the Accounts Receivable ledger on a daily basis to ensure that all invoices and payments are recorded promptly. Manage debts falling outside the acceptable debtors days target by sending information promptly to the debt collection agency. Main duties and responsibilities; • Auto match cash receipts to transactions on a daily basis o Manual match unmatched transactions on a daily basis o Take credit card payments over the phone or cash receipts via reception o Ensure refunds are made promptly via the Accounts Receivable Ledger Cheque Request form o Ensure that non routine debtors requiring chasing are actioned by the College’s Debt Collection Agency o Liaising as required with the Debt Collection Agency on any issues o Create statements on a daily basis and email to the Debt Collection Agency o Post cheque payments received on to the ledger o Create monthly debtor instalment plans for collection o Review the aged debtors report monthly to identify those debtors needing chasing and putting into legal via the Debt Collection Agency You must be available to start immediately and have a DBS. If this sounds like the right role for you then please apply today! Reed Specialist Recruitment Limited is an employment agency and employment business
          Accounts Receivable Clerk/Credit Controller   
Ref: BR/2306/AR Fed up of a tedious working enviroment? if so a rare exciting opportunity has arisen for a super Accounts Receivable Clerk to join a vibrant modern office in the heart of Kent! If this sounds appealing to you and you are a super duper AR Clerk or Credit Controller please apply. Main duties include:- Processing credit card payments Produce month end reconciliations and aged debtor reports Code remittance advices according to the correct invoice numbers Setting up new Suppliers Responsible for raising high volume of sales invoices and credit notes Chase outstanding debts and update Excel spread sheets Assist in resolving customer queries by email and phone Maintenance of the Sales Ledger Must haves:- Over 2 years AR/CC experience Previous exposure to above listed duties Due to the high volume of applicants only successful applicants will be contacted within 5 days
          Weekly Commentary: The Road to Normalization   
The past week provided important support for the “peak monetary stimulus” thesis. There is mounting evidence that global central bankers are monitoring inflating asset prices with heightened concern. The intense focus on CPI is beginning to blur. They would prefer to be on a cautious path toward policy normalization.

June 25 – Financial Times (Claire Jones): “Global financial stability will be in jeopardy if low inflation lulls central banks into not raising interest rates when needed, the Bank for International Settlements has warned. The message about the dangers of sticking too closely to inflation targets comes as central banks in some of the world’s largest economies are considering how to end years of ultra-loose monetary policy after the global financial crisis… ‘Keeping interest rates too low for long could raise financial stability and macroeconomic risks further down the road, as debt continues to pile up and risk-taking in financial markets gathers steam,’ the bank said in its annual report. The BIS acknowledged that raising rates too quickly could cause a panic in markets that have grown used to cheap central bank cash. However, delaying action would mean rates would need to rise further and faster to prevent the next crisis. ‘The most fundamental question for central banks in the next few years is going to be what to do if the economy is chugging along well, but inflation is not going up,’ said Claudio Borio, the head of the BIS’s monetary and economics department… ‘Central banks may have to tolerate longer periods when inflation is below target, and tighten monetary policy if demand is strong — even if inflation is weak — so as not to fall behind the curve with respect to the financial cycle.’ …Mr Borio said many of the factors influencing wage growth were global and would be long-lasting. ‘If, as we think, the forces of globalisation and technology are relevant [in keeping wages low] and have not fully run their course, this will continue to put downward pressure on inflation,’ he said.”

While global markets easily ignored ramifications from the BIS’s (the central bank to central banks) annual report, the same could not be said for less than super dovish comments from Mario Draghi, my nominee for “the world’s most important central banker.”

June 27 – Financial Times (Katie Martin): “What’s that, you say? The ‘R-word’? Judging from the markets, Mario Draghi’s emphasis on reflation changes everything, and highlights the communications challenge lying ahead of the president of the European Central Bank. The ECB’s crisis-fighter-in-chief threw investors into a fit of the vapours on Tuesday when he said he was growing increasingly confident in the currency bloc’s economic recovery, and that ‘deflationary forces have been replaced by reflationary ones’.”

June 27 – Bloomberg (Annie Massa and Elizabeth Dexheimer): “Mario Draghi hinted at how he may sell a gradual unwinding of European Central Bank stimulus. The ECB president repeated his mantra that the Governing Council needs to be patient in letting inflation pressures build in the euro area and prudent in withdrawing support. At the same time, there’s room to tweak existing measures. ‘As the economy continues to recover, a constant policy stance will become more accommodative, and the central bank can accompany the recovery by adjusting the parameters of its policy instruments -- not in order to tighten the policy stance, but to keep it broadly unchanged.’ The comments echo an argument first made by Bundesbank President Jens Weidmann… With his nod to a frequent critic of quantitative easing who has been calling for an end of the 2.3 trillion-euro ($2.6 trillion) program, Draghi may have set the stage for a discussion in the coming months on phasing out asset purchases.”

When the ECB chose not to offer any policy clarification coming out of its June 8th meeting, wishful markets had Draghi holding out until September. The timeline was moved up, with the ECB president using the bank’s annual meeting, held this year in Sintra Portugal, to offer initial thoughts on how the ECB might remove accommodation. Market reaction was swift.

German 10-year bund yields surged 13 bps Tuesday and almost doubled this week to 47bps. French yield jumped 14 bps Tuesday – and 21 bps for the week - to 82 bps. European periphery bonds were under pressure. Italian 10-year yields rose 16 bps Tuesday and 24 bps for the week to 2.16%. Portuguese yields rose 14 bps Tuesday, ending the week at 3.03%. Draghi’s comments rattled bond markets around the globe. Ten-year Treasury yields rose seven bps to 2.21% (up 16 bps for the week), Canadian bonds 11 bps to 1.57% and Australian bonds 10 bps to 2.46%. Emerging market bonds also came under heavy selling pressure, with Eastern European bonds taking a pounding.

June 28 – Bloomberg (Robert Brand): “This is what it sounds like when doves screech. Less than 24 hours Mario Draghi jolted financial markets by saying ‘deflationary forces’ have been replaced by reflationary ones, European Central Bank officials reversed the script, saying markets had misinterpreted the central banker’s comments. What was perceived as hawkish was really meant to strike a balance between recognizing the currency bloc’s economic strength and warning that monetary support is still needed, three Eurosystem officials familiar with policymakers’ thinking said. Their dovish interpretation sparked a rapid unwinding of moves in assets from the euro to stocks and sovereign bonds.”

I don’t see it as the markets misinterpreting Draghi. Understandably, inflated Bubble markets have turned hyper-sensitive to the course of ECB policymaking. The ECB’s massive purchase program inflated a historic Bubble throughout European debt markets, a speculative Bubble that I believe unleashed a surge of global liquidity that has underpinned increasingly speculative securities markets.

If not for massive QE operations from the ECB and BOJ, I believe the 2016 global reversal in bond yields would have likely ushered in a major de-risking/deleveraging episode throughout global markets. Instead, powerful liquidity injections sustained speculative Bubbles throughout global fixed income, in the process spurring blow-off excess throughout global equities and risk assets more generally. Recalling the summer of 2007, everyone is determined to see the dance party rave indefinitely.

First-half QE has been estimated (by Bank of America) at (an incredible) $1.5 TN. Bubbling markets should come as no stunning surprise. At May highs, most European equities indices were sporting double-digit year-to-date gains. The S&P500 returned (price + dividends) almost 10% for the first half, with the more speculative areas of U.S. equities outperforming. The Nasdaq Composite gained 14.1% in the first-half, with the large company Nasdaq 100 (NDX) rising 16.1%. Despite this week’s declines, the Morgan Stanley High Tech index rose 20.3%, and the Semiconductors (SOX) jumped 14.2% y-t-d. The Biotechs (BTK) surged 9.7% during Q2, boosting y-t-d gains to 25.6%. The NYSE Healthcare Index gained 7.7% for the quarter and 15.3% y-t-d. The Nasdaq Transports jumped 9.7% during Q2, with the DJ Transports up 5.3%. The Nasdaq Other Financials rose 7.9% in the quarter.

Central banks have closely collaborated since the financial crisis. While always justifying policy stimulus on domestic grounds, it’s now been almost a decade of central bankers coordinating stimulus measures to address global system fragilities. I doubt the Fed would have further ballooned its balance sheet starting in late-2012 if not for the “European” financial crisis. In early-2016, the ECB and BOJ would not have so aggressively expanded QE programs – and the Fed not postponed “normalization” – if not for global ramifications of a faltering Chinese Bubble. All the talk of downside inflation risk was convenient cover for global crisis worries.

As Mario Draghi stated, the European economy is now on a reflationary footing. At least for now, Beijing has somewhat stabilized the Chinese Bubble. Powered by booming securities markets, global Credit continues to expand briskly. Even in Europe, the employment backdrop has improved markedly. It’s just become difficult for central bankers to fixate on tame consumer price indices with asset prices running wild.

Global market liquidity has become fully fungible, a product of multinational financial institutions, securities lending/finance and derivatives markets. The ECB and BOJ’s ultra-loose policy stances have worked to counteract the Fed’s cautious normalization strategy. Determined to delay the inevitable, Draghi now faces the scheduled year-end expiration of the ECB’s latest QE program, along with an impending shortage of German bunds available for purchase. Behind the scenes and otherwise, Germany is surely losing patience with open-ended “money” printing. This week’s annual ECB gathering provided an opportunity for Draghi to finally get the so-called normalization ball rolling. Despite his cautious approach, markets immediately feared being run over.

June 28 – Bloomberg (Alessandro Speciale): “Mario Draghi just got evidence that his call for ‘prudence’ in withdrawing European Central Bank stimulus applies to his words too. The euro and bond yields surged on Tuesday after the ECB president said the reflation of the euro-area economy creates room to pull back unconventional measures without tightening the stance. Policy makers noted the jolt that showed how hypersensitive investors are to statements that can be read as even mildly hawkish… Draghi’s speech at the ECB Forum in Sintra, Portugal, was intended to strike a balance between recognizing the currency bloc’s economic strength and warning that monetary support is still needed, said the officials…”

June 28 – Bloomberg (James Hertling, Alessandro Speciale, and Piotr Skolimowski): “Global central bankers are coalescing around the message that the cost of money is headed higher -- and markets had better get used to it. Just a week after signaling near-zero interest rates were appropriate, Bank of England Governor Mark Carney suggested on Wednesday that the time is nearing for an increase. His U.S. counterpart, Janet Yellen, said her policy tightening is on track and Canada’s Stephen Poloz reiterated he may be considering a rate hike. The challenge of following though after a decade of easy money was highlighted by European Central Bank President Mario Draghi’s attempt to thread the needle. Financial markets whipsawed as Eurosystem officials walked back comments Draghi made Tuesday that investors had interpreted as signaling an imminent change in monetary policy. ‘The market is very sensitive to the idea that a number of central banks are appropriately and belatedly reassessing the need for emergency policy accommodation,’ said Alan Ruskin, co-head of foreign exchange research at Deutsche Bank AG.”

Draghi and the ECB are hoping to duplicate the Fed blueprint – quite gingerly removing accommodation while exerting minimal impact on bond yields and risk markets more generally: Normalization without a meaningful tightening of financial conditions. This is unrealistic.

Current complacency notwithstanding, turning down the ECB QE spigot will dramatically effect global liquidity dynamics. Keep in mind that the removal of Fed accommodation has so far coincided with enormous counteracting market liquidity injections courtesy of the other major central banks. The ECB will not enjoy a similar luxury. Moreover, global asset prices have inflated significantly over the past 18 months, fueled at least in part by a major increase in speculative leverage.

There are three primary facets to QE dynamics worth pondering as central banks initiate normalization. The first is the size and scope of previous QE operations. The second is the primary target of liquidity-induced market flows. And third, to what extent have central bank measures and associated market flows spurred self-reinforcing speculative leveraging and market distortions. Inarguably, ECB and BOJ-induced flows over recent quarters have been massive. It is also reasonably clear that market flows gravitated primarily to equities and corporate Credit, asset classes demonstrating the most enticing inflationary biases. And there are as well ample anecdotes supporting the view that major speculative leveraging has been integral to myriad Bubbles throughout global risk markets. The now deeply ingrained view that the cadre of global central banks will not tolerate market declines is one of history’s most consequential market distortions.

And while the timing of the removal of ECB and BOJ liquidity stimulus remains uncertain, markets must now at least contemplate an approaching backdrop with less accommodation from the ECB and central banks more generally. With this in mind, Draghi’s comments this week could mark an important juncture for speculative leveraging. Increasingly unstable currency markets are consistent with this thesis. The days of shorting yen and euros and using proceeds for easy profits in higher-yielding currencies appear to have run their course. I suspect de-leveraging dynamics have commenced, though market impact has thus far been muted by ongoing ECB and BOJ liquidity operations.

June 27 – Reuters (William Schomberg, Marc Jones, Jason Lange and Lindsay Dunsmuir): “U.S. Federal Reserve Chair Janet Yellen said on Tuesday that she does not believe that there will be another financial crisis for at least as long as she lives, thanks largely to reforms of the banking system since the 2007-09 crash. ‘Would I say there will never, ever be another financial crisis?’ Yellen said… ‘You know probably that would be going too far but I do think we're much safer and I hope that it will not be in our lifetimes and I don't believe it will be,’ she said.”

While headlines somewhat paraphrased Yellen’s actual comment, “We Will not see Another Crisis in Our Lifetime” is reminiscent of Irving Fisher’s “permanent plateau” just weeks before the great crash of 1929. While on the subject, I never bought into the popular comparison between 2008 and 1929 – and the related notion of 2008 as “the 100-year flood”. The 2008/09 crisis was for the most part a private debt crisis associated with the bursting of a Bubble in mortgage Credit – not dissimilar to previous serial global crises, only larger and somewhat more systemic. It was not, however, a deeply systemic debt crisis akin to the aftermath of 1929, which was characterized by a crisis of confidence in the banking system, the markets and finance more generally, along with a loss of faith in government policy and institutions. But after a decade of unprecedented expansion of government debt and central bank Credit, the stage has now been set for a more systemic 1929-like financial dislocation.

As such, it’s ironic that the Fed has branded the banking system cured and so well capitalized that bankers can now boost dividends, buybacks and, presumably, risk-taking. As conventional central bank thinking goes, a well-capitalized banking system provides a powerful buffer for thwarting the winds of financial crisis. Chair Yellen, apparently, surveys current bank capital levels and extrapolates to systemic stability. Yet the next crisis lurks not with the banks but within the securities and derivatives markets: too much leverage and too much “money” employed in trend-following trading strategies. Too much hedging, speculating and leveraging in derivatives. Market misperceptions and distortions on an epic scale.

Compared to 2008, the leveraged speculating community and the ETF complex are significantly larger and potentially perilous. The derivatives markets are these days acutely more vulnerable to liquidity issues and dislocation. Never have global markets been so dominated by trend-following strategies. It’s a serious issue that asset market performance – stocks, bond, corporate Credit, EM, real estate, etc. – have all become so tightly correlated. There are huge vulnerabilities associated with various markets having become so highly synchronized on a global basis. And in the grand scheme of grossly inflated global securities, asset and derivatives markets, the scope of available bank capital is trivial.

I realize that, at this late stage of the great bull market, such a question sounds hopelessly disconnected. Yet, when markets reverse sharply lower and The Crowd suddenly moves to de-risk, who is left to take the other side of what has become One Gargantuan “Trade”? We’re all familiar with the pat response: “Central banks. They’ll have no choice.” Okay, but I’m more interested in the timing and circumstances.

Central bankers are now signaling their desire to proceed with normalization, along with noting concerns for elevated asset prices. As such, I suspect they will be somewhat more circumspect going forward when it comes to backstopping the markets - than, say, back in 2013 with Bernanke’s “flash crash” or with the China scare of early-2016. Perhaps this might help to explain why the VIX spiked above 15 during Thursday afternoon trading. Even corporate debt markets showed a flash of vulnerability this week.

For the Week:

The S&P500 dipped 0.6% (up 8.2% y-t-d), and the Dow slipped 0.2% (up 8.0%). The Utilities fell 2.5% (up 6.2%). The Banks surged 4.4% (up 4.2%), and the Broker/Dealers jumped 2.6% (up 9.8%). The Transports rose 1.9% (up 5.7%). The S&P 400 Midcaps added 0.2% (up 5.2%), while the small cap Russell 2000 was unchanged (up 4.3%). The Nasdaq100 dropped 2.7% (up 16.1%), and the Morgan Stanley High Tech index sank 3.0% (up 20.3%). The Semiconductors were hit 4.9% (up 14.2%). The Biotechs dropped 3.9% (up 25.5%). With bullion dropping $15, the HUI gold index sank 4.5% (up 1.9%).

Three-month Treasury bill rates ended the week at 100 bps. Two-year government yields gained four bps to 1.38% (up 19bps y-t-d). Five-year T-note yields rose 13 bps to 1.89% (down 4bps). Ten-year Treasury yields jumped 16 bps to 2.30% (down 14bps). Long bond yields increased 12 bps to 2.84% (down 23bps).

Greek 10-year yields were little changed at 5.36% (down 166bps y-t-d). Ten-year Portuguese yields rose 10 bps to 3.03% (down 72bps). Italian 10-year yields surged 24 bps to 2.16% (up 35bps). Spain's 10-year yields jumped 16 bps to 1.54% (up 16bps). German bund yields surged 21 bps to 0.47% (up 26bps). French yields rose 21 bps to 0.82% (up 14bps). The French to German 10-year bond spread was unchanged at 35 bps. U.K. 10-year gilt yields jumped 23 bps to 1.26% (up 2bps). U.K.'s FTSE equities index fell 1.5% (up 11.2%).

Japan's Nikkei 225 equities index declined 0.5% (up 4.8% y-t-d). Japanese 10-year "JGB" yields gained three bps to 0.09% (up 5bps). France's CAC40 sank 2.8% (up 5.3%). The German DAX equities index was hit 3.2% (up 7.4%). Spain's IBEX 35 equities index fell 1.8% (up 11.7%). Italy's FTSE MIB index declined 1.2% (up 7.0%). EM equities were mostly higher. Brazil's Bovespa index rallied 3.0% (up 4.4%), and Mexico's Bolsa gained 1.8% (up 9.2%). South Korea's Kospi increased 0.6% (up 18%). India’s Sensex equities index declined 0.7% (up 16.1%). China’s Shanghai Exchange rose 1.1% (up 2.9%). Turkey's Borsa Istanbul National 100 index added 0.8% (up 28.5%). Russia's MICEX equities index gained 0.6% (down 15.8%).

Junk bond mutual funds saw outflows of $1.735 billion (from Lipper).

Freddie Mac 30-year fixed mortgage rates dipped two bps to 3.88% (up 40bps y-o-y). Fifteen-year rates were unchanged at 3.17% (up 39bps). The five-year hybrid ARM rate gained three bps to 3.17% (up 47bps). Bankrate's survey of jumbo mortgage borrowing costs had 30-yr fixed rates up a basis point to 4.01% (up 34bps).

Federal Reserve Credit last week added $0.8bn to $4.431 TN. Over the past year, Fed Credit declined $5.0bn. Fed Credit inflated $1.620 TN, or 58%, over the past 242 weeks. Elsewhere, Fed holdings for foreign owners of Treasury, Agency Debt jumped another $17.9bn last week to $3.310 TN. "Custody holdings" were up $83bn y-o-y, 2.6%.

M2 (narrow) "money" supply last week slipped $4.3bn to $13.510 TN. "Narrow money" expanded $686bn, or 5.4%, over the past year. For the week, Currency increased $2.7bn. Total Checkable Deposits fell $12.7bn, while Savings Deposits gained $6.9bn. Small Time Deposits were little changed. Retail Money Funds fell $4.1bn.

Total money market fund assets added $4.2bn to $2.621 TN. Money Funds fell $96bn y-o-y (3.5%).

Total Commercial Paper declined $5.4bn to $973.6bn. CP declined $77bn y-o-y, or 7.4%.

Currency Watch:

The U.S. dollar index fell 1.7% to 95.628 (down 6.6% y-t-d). For the week on the upside, the Swedish krona increased 3.4%, the British pound 2.4%, the Canadian dollar 2.3%, the euro 2.1%, the Australian dollar 1.6%, the Norwegian krone 1.3%, the Swiss franc 1.2%, the Brazilian real 1.1%, the Singapore dollar 0.8% and the New Zealand dollar 0.7%. For the week on the downside, the South African rand declined 1.6%, the Japanese yen 1.0%, the Mexican peso 0.6% and the South Korean won 0.4%. The Chinese renminbi gained 0.82% versus the dollar this week (up 2.42% y-t-d).

Commodities Watch:

The Goldman Sachs Commodities Index surged 5.3% (down 6.5% y-t-d). Spot Gold declined 1.2% to $1,242 (up 7.7%). Silver slipped 0.5% to $16.627 (up 4.0%). Crude rallied $3.03 to $46.04 (down 15%). Gasoline jumped 5.6% (down 9%), and Natural Gas rose 3.6% (down 19%). Copper gained 2.9% (up 8%). Wheat surged 11.1% (up 29%). Corn jumped 4.2% (up 8%).

Trump Administration Watch:

June 27 – Bloomberg (Steven T. Dennis and Laura Litvan): “Senate Majority Leader Mitch McConnell’s decision to delay a vote on health-care legislation came as a relief to some Republican holdouts, but it sets off what will be a furious few weeks of talks to deliver on the GOP’s seven-year promise to repeal the Affordable Care Act. Senate Republicans went to the White House Tuesday afternoon to meet with President Donald Trump, who also promised his political supporters he would do away with Obamacare. ‘We’re going to solve the problem,’ the president told senators. But Trump also conceded the possibility that the health bill wouldn’t pass. ‘If we don’t get it done, it’s just going to be something that we’re not going to like,’ he said… ‘And that’s OK, and I understand that very well.’”

June 29 – Reuters: “Congress will need to raise the nation's debt limit and avoid defaulting on loan payments by ‘early to mid-October,’ the Congressional Budget Office said in a report… Treasury Secretary Steve Mnuchin has encouraged Congress to raise the limit before the legislative body leaves for their August recess. But it remains unclear if a bipartisan agreement has been struck to allow the limit to be raised, as both chambers continue to be weighed down by health care and tax reform and trying to find an agreement to fund the government after the September 30 deadline.”

June 30 – CNBC (Fred Imbert): “President Donald Trump's White House is ‘hell-bent’ on imposing tariffs on steel and other imports, Axios reported Friday. The plan — which was pushed by Commerce Secretary Wilbur Ross and was supported by National Trade Council Peter Navarro, and policy adviser Stephen Miller — would potentially impose tariffs in the 20% range… During a ‘tense’ meeting Monday, the president made it clear he favors tariffs, yet the plan was met with heavy opposition by most officials in the room, with one telling Axios about 22 were against it and only three in favor, including Trump.”

June 29 – Financial Times (Stefan Wagstyl): “Angela Merkel threw down the gauntlet to Donald Trump as Germany’s chancellor pledged to fight at next week’s G20 summit for free trade, international co-operation and the Paris climate change accord. In a combative speech on Thursday in the German parliament, Ms Merkel also promised to focus on reinforcing the EU, in close co-operation with France, despite the pressing issue of Brexit. But in a sign that it may be difficult to maintain European unity around a tough approach to Mr Trump, Ms Merkel later softened her tone, as she prepares to host G20 leaders in Hamburg next Friday.”

June 27 – Bloomberg (Joe Light): “Two U.S. senators working on a bipartisan overhaul of Fannie Mae and Freddie Mac are seriously considering a plan that would break up the mortgage-finance giants, according to people with knowledge of the matter. The proposal by Tennessee Republican Bob Corker and Virginia Democrat Mark Warner would attempt to foster competition in the secondary mortgage market… Corker and Warner’s push to develop a plan marks Congress’ latest attempt to figure out what to do with Fannie and Freddie, an issue that has vexed lawmakers ever since the government took control of the companies in 2008 as the housing market cratered. The lawmakers’ plan is still being developed, and a Senate aide who asked not to be named cautioned that no decisions had been made on any issues.”

China Bubble Watch:

June 25 – Financial Times (Minxin Pei): “The Chinese government has just launched an apparent crackdown on a small number of large conglomerates known in the west chiefly for their aggressive dealmaking. The list includes Dalian Wanda, Anbang, Fosun and HNA Group. The news that Chinese banking regulators have asked lenders to examine their exposure to these companies has sent the stocks of groups wholly or partly owned by these conglomerates tumbling in Shanghai and Hong Kong. Obviously, the market was caught by surprise. But it should not be… The immediate trigger is Beijing’s growing alarm over the risks in China’s financial sector and attempt to cut capital outflows. In late April, President Xi Jinping convened a politburo meeting specifically focused on stability in the financial system. Foreshadowing the crackdown, he ordered that those ‘financial crocodiles’ that destabilise China’s financial system must be punished.”

June 26 – Wall Street Journal (Anjani Trivedi): “As Beijing looks to rein in companies that have splurged on overseas deals, it is talking up the systemic risks to its financial system. But just how serious is the problem? After all, for years Beijing has urged leading companies to ‘go global,’ and encouraged banks to support them with lending. Its words were taken to heart: Companies like sprawling conglomerate HNA Group and insurer Anbang pushed the country’s outbound acquisitions to more than $200 billion last year… Now… regulators are investigating leverage and risks at banks associated with China Inc.’s bulging overseas deals. It’s clear that Chinese banks are already heavily exposed to China’s big deal makers through basic lending. Chinese lenders had extended more than 500 billion yuan ($73.14bn) of loans to HNA alone as of last year…”

June 26 – Bloomberg: “China may finally be ready to cut the cord when it comes to the country’s troubled local government financing vehicles. Beijing’s deleveraging drive has seen rules impacting LGFV debt refinancing tightened, spurring a slump in issuance by the vehicles, which owe about 5.6 trillion yuan ($818bn) to bondholders and are seen by some as the poster children for China’s post-financial crisis debt woes. Signs the authorities may be taking a less sympathetic view of the sector has ratings companies flagging the possibility that 2017 could see the first ever default by a local financing vehicle.”

June 29 – Reuters (Yawen Chen and Thomas Peter): “The struggles of China's small and medium-sized firms have grown so acute that many are expected to become unprofitable or even go belly-up this year, boding ill for an economy running short on strong growth drivers. The companies - which account for over 60% of China's $11 trillion gross domestic product - have entered the most challenging funding environment in years as Beijing cracks down on easy credit to contain a dangerous debt build-up. Many of the firms - mostly in the industrial, transport, wholesale, retail, catering and accommodation sectors - are already grappling with soaring costs, fierce competition and thinning profits. The strains faced by small and medium-sized enterprises (SMEs) are expected to grow more visible as Beijing deflates a real estate bubble and eases infrastructure spending to dial back its fiscal stimulus.”

June 29 – Reuters (Leika Kihara and Stanley White): “One of Chinese banks’ favorite tools for increasing leverage has staged a remarkable but worrisome comeback just two months after a regulatory crackdown on leveraged investment… Chinese banks’ issuance of negotiable certificates of deposit in June nearly hit the high recorded in March… NCDs, a type of short-term loan, have become extremely popular in recent years with Chinese banks, especially smaller lenders due to their weaker ability to attract deposits. During a clampdown on runaway debt in April, Chinese regulators warned banks against abusing the tool for speculative, leveraged bets in capital markets. But after a deep but brief drop, NCD issuance has risen again as regulatory attention appeared to ease in recent weeks, hitting 1.96 trillion yuan ($287.73bn) this month, up sharply from 1.23 trillion yuan in May and just a touch below March’s record 2.02 trillion yuan."

June 28 – Financial Times (Gabriel Wildau): “Capital flight disguised as overseas tourism spending has artificially cut China’s reported trade surplus while masking the extent of investment outflows, according to research by the US Federal Reserve. A significant share of overseas spending classified in official data as travel-related shopping, entertainment and hospitality may over a 12-month period have instead been used for investment in financial assets and real estate, the Fed paper argued… Disguised capital outflows in the year to September may have amounted to $190bn, or 1.7% of gross domestic product… Chinese households have in recent years looked at ways to skirt government-imposed limitations on foreign investment as its economy slowed and the renminbi depreciated.”

June 28 – Bloomberg (Joe Ryan): “As Elon Musk races to finish building the world’s biggest battery factory in the Nevada desert, China is poised to leave him in the dust. Chinese companies have plans for additional factories with the capacity to pump out more than 120 gigawatt-hours a year by 2021, according to a report… by Bloomberg Intelligence. That’s enough to supply batteries for around 1.5 million Tesla Model S vehicles or 13.7 million Toyota Prius Plug-in Hybrids per year… By comparison, when completed in 2018, Tesla Inc.’s Gigafactory will crank out up to 35 gigawatt-hours of battery cells annually.”

June 28 – CNBC (Geoff Cutmore): “China's economic growth will accelerate because the country will finally get leaders who aren't scared, a former advisor to China's central bank said Wednesday. ‘The most important reason is that there is a new group of officials being appointed ... (who will emerge) around the 19th Party Congress which will be in mid to late October,’ said Li Daokui, who is now Dean of the Schwarzman College at Tsinghua University in Beijing. …Li said the Chinese economy will grow 6.9 to 7 percent by 2018 from 6.7 percent in 2017. China posted 6.7% GDP growth in 2016, the slowest in 26 years. ‘These (new) officials have been carefully, carefully scrutinized before they are appointed so they are clean. They are not worried about becoming targets of anti-corruption investigations,’ he added.”

Europe Watch:

June 26 – Bloomberg (Sonia Sirletti and Alexander Weber): Italy orchestrated its biggest bank rescue on record, committing as much as 17 billion euros ($19bn) to clean up two failed banks in one of its wealthiest regions, a deal that raises questions about the consistency of Europe’s bank regulations. The intervention at Banca Popolare di Vicenza SpA and Veneto Banca SpA includes state support for Intesa Sanpaolo SpA to acquire their good assets for a token amount… Milan-based Intesa can initially tap about 5.2 billion euros to take on some assets without hurting capital ratios, Padoan said. The European Commission approved the plan.”

June 28 – Reuters (Gernot Heller and Joseph Nasr): “Finance Minister Wolfgang Schaeuble… underscored Germany's concerns about what he called a regulatory loophole after the EU cleared Italy to wind up two failed banks at a hefty cost to local taxpayers. Schaeuble told reporters that Europe should abide by rules enacted after the 2008 collapse of U.S. financial services firm Lehman Brothers that were meant to protect taxpayers. Existing European Union guidelines for restructuring banks aimed to ensure ‘what all political groups wanted: that taxpayers will never again carry the risks of banks,’ he said. Italy is transferring the good assets of the two Veneto lenders to the nation's biggest retail bank, Intesa Sanpaolo (ISP.MI), as part of a transaction that could cost the state up to 17 billion euros ($19 billion).”

June 25 – Reuters (Balazs Koranyi and Erik Kirschbaum): “The time may be nearing for the European Central Bank to start discussing the end of unprecedented stimulus as growth and inflation are both moving in the right direction, Bundesbank president Jens Weidmann told German newspaper Welt am Sonntag. Weidmann, who sits on the ECB's rate-setting Governing Council, also said that the bank should not make any further changes to the key parameters of its bond purchase scheme, comments that signal opposition to an extension of asset buys since the ECB will soon hit its German bond purchase limits. Hoping to revive growth and inflation, the ECB is buying 2.3 trillion euros worth of bonds…, a scheme known as quantitative easing and long opposed by Germany… The purchases are set to run until December and the ECB will decide this fall whether to extend it… ‘As far as a possible extension of the bonds-buying program goes, this hasn't yet been discussed in the ECB Council,’ Weidmann told the newspaper…”

June 26 – Bloomberg (Carolynn Look): “It seems the sky is the limit for Germany’s economy. Business confidence -- logging its fifth consecutive increase -- jumped to the highest since 1991 this month, underpinning optimism by the Bundesbank that the upswing in Europe’s largest economy is set to continue. With domestic demand supported by a buoyant labor market, risks to growth stem almost exclusively from global forces. ‘Sentiment among German businesses is jubilant,’ Ifo President Clemens Fuest said… ‘Germany’s economy is performing very strongly.’”

June 29 – Reuters (Pete Schroeder and David Henry): “German inflation probably accelerated in June, regional data suggested on Thursday, suggesting a solid upswing in the economy is pushing up price pressures as euro zone inflation moves closer to the European Central Bank's target. The data comes only days after ECB head Mario Draghi hinted that the bank's asset-purchase program would become less accommodative going into 2018 as regional growth gains pace and inflation trends return following a period of falling prices. In another sign of rising price pressures in the 19-member single currency bloc, Spanish consumer prices rose more than expected in June… In the German state of Hesse, annual inflation rose to 1.9% in June from 1.7% in May…”

June 28 – Reuters (Gavin Jones and Steve Scherer): “He is an 80-year-old convicted criminal whose last government ended with Italy on the brink of bankruptcy - and he may well be kingmaker at the next election within a year. Mayoral elections on Sunday showed four-time Prime Minister Silvio Berlusconi's center-right Forza Italia party remains a force to be reckoned with... ‘Berlusconi sees this as the last challenge of his career,’ said Renato Brunetta, a close ally for over 20 years and Forza Italia's lower house leader. ‘He feels he has suffered many injustices and deserves one last shot. Who can deny him that?’ Matteo Renzi, leader of the ruling Democratic Party (PD), and Beppe Grillo's anti-establishment 5-Star Movement have dominated the national scene in recent years, relegating Forza Italia to a distant third or fourth in the polls. Yet in the mayoral ballots, Forza Italia and its anti-immigrant Northern League allies trounced the PD and 5-Star in cities all over the country, suggesting they have momentum behind them just as the national vote comes into view.”

Central Bank Watch:

June 27 – Wall Street Journal (Tom Fairless): “The euro soared to its biggest one-day gain against the dollar in a year and eurozone bond prices slumped after European Central Bank President Mario Draghi hinted the ECB might start winding down its stimulus in response to accelerating growth in Europe. Any move by the ECB toward reducing bond purchases would put it on a similar policy path as the Federal Reserve, which first signaled an intent to taper its own stimulus program in 2013. But the ECB is likely to remain far behind: The Fed has been raising interest rates gradually since December 2015, while the ECB’s key rate has been negative since June 2014. Mr. Draghi’s comments, made Tuesday at the ECB’s annual economic policy conference in Portugal, were laced with caution and caveats. But investors interpreted them as a cue to buy euros and sell eurozone bonds, a reversal of a long-term trade that has benefited from the central bank’s €60 billion ($67.15bn) of bond purchases each month. ‘All the signs now point to a strengthening and broadening recovery in the euro area,’ Mr. Draghi said.”

June 28 – Financial Times (Dan McCrum and Chris Giles in London and Claire Jones): “Bond and currency markets whipsawed on Wednesday as Europe’s two most influential central bankers struggled to communicate to investors how they would exit from years of crisis-era economic stimulus policies. The euro surged to a 52-week high against the dollar after investors characterised remarks by Mario Draghi as a signal he was preparing to taper the European Central Bank’s bond-buying scheme — only to drop almost a full cent after senior ECB figures made clear he had been misinterpreted. Similarly, the British pound jumped 1.2% to $1.2972 after Mark Carney, Bank of England governor, said he was prepared to raise interest rates if UK business activity increased — just a week after saying ‘now is not yet the time’ for an increase. The sharp moves and sudden reversals over two days of heavy trading highlight the acute sensitivity of financial markets to any suggestion of a withdrawal of stimulus measures after a prolonged period of monetary accommodation.”

June 25 – Reuters (Marc Jones): “Major central banks should press ahead with interest rate increases, the Bank for International Settlements said…, while recognizing that some turbulence in financial markets will have to be negotiated along the way. The BIS, an umbrella body for leading central banks, said in one of its most upbeat annual reports for years that global growth could soon be back at long-term average levels after a sharp improvement in sentiment over the past year. Though pockets of risk remain because of high debt levels, low productivity growth and dwindling policy firepower, the BIS said policymakers should take advantage of the improving economic outlook and its surprisingly negligible effect on inflation to accelerate the ‘great unwinding’ of quantitative easing programs and record low interest rates.”

Brexit Watch:

June 27 – Reuters (Guy Faulconbridge and Kate Holton): “Prime Minister Theresa May struck a deal on Monday to prop up her minority government by agreeing to at least 1 billion pounds ($1.3bn) in extra funding for Northern Ireland in return for the support of the province's biggest Protestant party. After over two weeks of talks and turmoil sparked by May's failure to win a majority in a June 8 snap election, she now has the parliamentary numbers to pass a budget and a better chance of passing laws to take Britain out of the European Union.”

Global Bubble Watch:

June 28 – Wall Street Journal (Richard Barley): “Sometimes financial markets are surprisingly bad at connecting the dots—until they can’t ignore the picture forming before their eyes. The screeching U-turn in bond markets is a good example. The world’s central banks are sending out a message that loose monetary policy can’t last forever. The shift is mainly rhetorical, and action may yet be some way off. But expectations matter, as they did when the Federal Reserve indicated in 2013 that its quantitative-easing program could be wound down. That caused global bond yields to surge, led by the U.S., and sparked extended turmoil in emerging markets. This time, the bond reversal has been centered on Europe. Ten-year German bund yields started Tuesday just below 0.25%, but by Wednesday afternoon stood at 0.37%. That helped lift bond yields elsewhere, since low German yields have been acting as an anchor. The selloff in the bund Tuesday was the worst in 22 months…”

June 28 – Reuters (Sujata Rao): “Global debt levels have climbed $500 billion in the past year to a record $217 trillion, a new study shows, just as major central banks prepare to end years of super-cheap credit policies. World markets were jarred this week by a chorus of central bankers warning about overpriced assets, excessive consumer borrowing and the need to begin the process of normalizing world interest rates from the extraordinarily low levels introduced to offset the fallout of the 2009 credit crash. This week, U.S. Federal Reserve chief Janet Yellen has warned of expensive asset price valuations, Bank of England Governor Mark Carney has tightened controls on bank credit and European Central Bank head Mario Draghi has opened the door to cutting back stimulus, possibly as soon as September. Years of cheap central bank cash has delivered a sugar rush to world equity markets, pushing them to successive record highs. But another side effect has been explosive credit growth as households, companies and governments rushed to take advantage of rock-bottom borrowing costs. Global debt, as a result, now amounts to 327% of the world's annual economic output, the Institute of International Finance (IIF) said in a report…”

June 26 – Bloomberg (Garfield Clinton Reynolds and Adam Haigh): “Greed seems to be running the show in global markets. Fear has fled, and that may be the biggest risk of all. Currency volatility just hit a 20-month low, Treasury yields are in their narrowest half-year trading range since the 1970s and the U.S. equities fear gauge, the VIX, is stuck near a two-decade nadir. While markets have signaled complacency in the face of Middle East tensions, the withdrawal of Federal Reserve stimulus and President Donald Trump’s tweetstorms, the Bank for International Settlements flagged on Sunday that low volatility can spur risk-taking with the potential to unwind quickly.”

June 27 – Bloomberg (Annie Massa and Elizabeth Dexheimer): “The growing market for exchange-traded funds hasn’t been fully put to the test, according to one of the top U.S. speed trading firms. Ari Rubenstein, chief executive officer and co-founder of Global Trading Systems LLC, told lawmakers… that while investment dollars have flooded the U.S. ETF market, the new order has not endured an extreme period of stress. Volatility, a measure of market uncertainty, has remained low. ‘In some ways the markets are a bit untested,’ Rubenstein said… ‘It’s definitely something we should talk about to make sure industry participants are prepared in those instruments.’”

June 29 – Financial Times (Javier Espinoza): “Private equity buyouts have enjoyed the strongest start to a year since before the financial crisis as fund managers have come under intense pressure from investors to deploy some of the record amount of capital they hold. The volume of deals involving private equity firms climbed 29% to $143.7bn in the first half of the year, the highest level since 2007, according to… Thomson Reuters.”

June 27 – Bloomberg (Enda Curran and Stephen Engle): “Investors aren’t sufficiently pricing in a growing threat to economic and financial market stability from geopolitical risks, and the latest global cyberattack is an example of the damage that can be wreaked on trade, Cornell University Professor Eswar Prasad said. His remarks came as a virus similar to WannaCry reached Asia after spreading from Europe to the U.S. overnight, hitting businesses, port operators and government systems.”

Fixed Income Bubble Watch:

June 27 – CNBC (Ann Saphir): “Bond investors may soon pay a hefty price for being too pessimistic about the economy, according to portfolio manager Joe Zidle. Zidle, who is with Richard Bernstein Advisors, believes the vast amount of money flowing into long-duration bonds is signaling a costly mistake. ‘Last week alone, there is a 20-year plus treasury bond ETF that in one week got more inflows than all domestic equity mutual funds, and all domestic equity ETFs combined year-to-date,’ he said… He added: ‘I think investors are going to be in a real painful trade.’”

June 26 – Bloomberg (Mary Williams Walsh): “The United States Virgin Islands is best known for its powdery beaches and turquoise bays, a constant draw for the tourists who frequent this tiny American territory. Yet away from the beaches the mood is ominous, as government officials scramble to stave off the same kind of fiscal collapse that has already engulfed its neighbor Puerto Rico. The public debts of the Virgin Islands are much smaller than those of Puerto Rico, which effectively declared bankruptcy in May. But so is its population, and therefore its ability to pay. This tropical territory of roughly 100,000 people owes some $6.5 billion to pensioners and creditors.”

Federal Reserve Watch:

June 28 – Bloomberg (Jill Ward, Lucy Meakin, and Christopher Condon): “Federal Reserve Chair Janet Yellen gave no indication her plans for continued monetary policy tightening had shifted while acknowledging that some asset prices had become ‘somewhat rich.’ ‘We’ve made very clear that we think it will be appropriate to the attainment of our goals to raise interest rates very gradually,’ she said… In her first public remarks since the U.S. central bank hiked rates on June 14, Yellen said that asset valuations, by some measures ‘look high, but there’s no certainty about that.’ ‘Asset valuations are somewhat rich if you use some traditional metrics like price earnings ratios, but I wouldn’t try to comment on appropriate valuations, and those ratios ought to depend on long-term interest rates,” she said.”

June 27 – Bloomberg (Christopher Condon): “Federal Reserve Vice Chairman Stanley Fischer pointed to higher asset prices as well as increased vulnerabilities for both household and corporate borrowers in warning against complacency when gauging the safety of the global financial system. ‘There is no doubt the soundness and resilience of our financial system has improved since the 2007-09 crisis,’ Fischer said… ‘However, it would be foolish to think we have eliminated all risks.’”

June 28 – Bloomberg (Luke Kawa): “When a trio of Federal Reserve officials delivered remarks on Tuesday, the state of U.S. financial markets came in for a little bit of criticism. When all was said and done, U.S. equities sank the most in six weeks, yields on 10-year Treasuries rose and the dollar weakened to the lowest level versus the euro in 10 months. Fed Chair Janet Yellen said that asset valuations, by some measures ‘look high, but there’s no certainty about that.’ Earlier, San Francisco Fed President John Williams said the stock market ‘seems to be running very much on fumes’ and that he was ‘somewhat concerned about the complacency in the market.’ Fed Vice-Chair Stanley Fischer suggested that there had been a ‘notable uptick’ in risk appetite that propelled valuation ratios to very elevated levels.”

June 27 – Reuters (Guy Faulconbridge and Kate Holton): “With the U.S. economy at full employment and inflation set to hit the Federal Reserve's 2% target next year, the U.S. central bank needs to keep raising rates gradually to keep the economy on an even keel, a Fed policymaker said… ‘If we delay too long, the economy will eventually overheat, causing inflation or some other problem,’ San Francisco Fed President John Williams said… ‘Gradually raising interest rates to bring monetary policy back to normal helps us keep the economy growing at a rate that can be sustained for a longer time.’”

June 29 – Financial Times (Alistair Gray and Barney Jopson): “Regulators have given US banks the go-ahead to pay out almost all their earnings to shareholders this year in a signal of their confidence in the health of the financial system. The Federal Reserve has given the green light to a record level of post-crisis distributions, including an estimated total of almost $100bn from the six largest banks. All 34 institutions passed the second part of its annual stress test, although the Fed did call out weaknesses in capital planning at Capital One… The big six US banks — Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, JPMorgan Chase and Wells Fargo — are set to return to shareholders between $95bn and $97bn over the next four quarters, according to RBC Capital Markets analyst Gerard Cassidy. That is about 50% more than they were able to hand out after last year’s exam.”

U.S. Bubble Watch:

June 27 – Wall Street Journal (Shibani Mahtani and Douglas Belkin): “This is what happens when a major American state lets its bills stack up for two years. Hospitals, doctors and dentists don’t get paid for hundreds of millions of dollars of patient care. Social-service agencies help fewer people. Public universities and the towns that surround them suffer. The state’s bond rating falls to near junk status. People move out. A standoff in Illinois between Republican Governor Bruce Rauner and Democratic Speaker of the House Michael Madigan over spending and term limits has left Illinois without a budget for two years. State workers and some others are still getting paid because of court orders and other stopgap measures, but bills for many others are piling up. The unpaid backlog is now $14.6 billion and growing.”

June 28 – Bloomberg Business Week (Elizabeth Campbell and John McCormick): “Two years ago, Illinois’s budget impasse meant that the state’s lottery winners had to wait for months to get their winnings. Now, with $15 billion in unpaid bills, Illinois is on the brink of being unable to even sell Powerball tickets. For the third year in a row, the state is poised to begin its fiscal year on July 1 with no state budget and billions of dollars in the red. If that happens, S&P Global Ratings says Illinois will probably lose its ­investment-grade status and become the first U.S. state on record to have its general obligation debt rated as junk. Illinois is already the worst-rated state at BBB-, S&P’s lowest investment-grade rating. The state owes at least $800 million in interest and late fees on its unpaid bills.”

June 26 – Wall Street Journal (Lev Borodovsky): “Commercial real estate prices are starting to roll over after reaching record highs, capping a long postcrisis rally. While there is no sign that a decline would mean imminent danger for the economy, Federal Reserve Bank of Boston President Eric Rosengren recently warned that valuations represent a risk he ‘will continue to watch carefully.’ So far, prices have proven resilient, reflecting in part the unexpected 2017 decline of interest rates and the rising capital flows from diverse sources such as U.S. pensions and overseas investors.”

June 28 – Wall Street Journal (Chris Dieterich): “Booming demand for passive investments is making exchange-traded funds an increasingly crucial driver of share prices, helping to extend the long U.S. stock rally even as valuations become richer and other big buyers pare back. ETFs bought $98 billion in U.S. stocks during the first three months of this year, on pace to surpass their total purchases for 2015 and 2016 combined… These funds owned nearly 6% of the U.S. stock market in the first quarter—their highest level on record—according to an analysis of Fed data by Goldman Sachs… Surging demand for ETFs this year has to an unprecedented extent helped fuel the latest leg higher for the eight-year stock-market rally.”

June 27 – Reuters (Kimberly Chin): “U.S. single-family home prices rose in April due to tight inventory of houses on the market and low mortgage rates… and economists see no imminent change in the trend. The S&P CoreLogic Case-Shiller composite index of 20metropolitan areas rose 5.7% in April on a year-over-year basis after a 5.9% gain in March, which matched the fastest pace in nearly three years.”

June 27 – Bloomberg (Andrew Mayeda): “The International Monetary Fund cut its outlook for the U.S. economy, removing assumptions of President Donald Trump’s plans to cut taxes and boost infrastructure spending to spur growth. The IMF reduced its forecast for U.S. growth this year to 2.1%, from 2.3% in the fund’s April update to its world economic outlook. The… fund also cut its projection for U.S. growth next year to 2.1%, from 2.5% in April.”

Japan Watch:

June 29 – Reuters (Leika Kihara and Stanley White): “Japan's industrial output fell faster in May than at any time since the devastating earthquake of March 2011 while inventories hit their highest in almost a year, suggesting a nascent economic recovery may stall before it gets properly started. Household spending also fell in May, leaving the Bank of Japan's 2% target seemingly out of reach.”

EM Watch:

June 28 – Reuters (Brad Brooks and Silvio Cascione): “President Michel Temer called a corruption charge filed against him by Brazil's top prosecutor a ‘fiction’ on Tuesday, as the nation's political crisis deepened under the second president faced with possible removal from office in just over a year. Temer, who was charged Monday night with arranging to receive millions of dollars in bribes, said the move would hurt Brazil's economic recovery and possibly paralyze efforts at reform. The conservative leader said executives of the world's biggest meatpacker, JBS SA , who accused him in plea-bargain testimony of arranging to take 38 million reais ($11.47 million) in bribes in the coming months, did so only to escape jail for their own crimes.”

Geopolitical Watch:

June 29 – New York Times (Nicole Perlroth and David E. Sanger): “Twice in the past month, National Security Agency cyberweapons stolen from its arsenal have been turned against two very different partners of the United States — Britain and Ukraine. The N.S.A. has kept quiet, not acknowledging its role in developing the weapons. White House officials have deflected many questions, and responded to others by arguing that the focus should be on the attackers themselves, not the manufacturer of their weapons. But the silence is wearing thin for victims of the assaults, as a series of escalating attacks using N.S.A. cyberweapons have hit hospitals, a nuclear site and American businesses. Now there is growing concern that United States intelligence agencies have rushed to create digital weapons that they cannot keep safe from adversaries or disable once they fall into the wrong hands.”

June 28 – New York Times (Sheera Frenkel, Mark Scott and Paul Mozur): “As governments and organizations around the world grappled… with the impact of a cyberattack that froze computers and demanded a ransom for their release, victims received a clear warning from security experts not to pay a dime in the hopes of getting back their data. The hackers’ email address was shut down and they had lost the ability to communicate with their victims, and by extension, to restore access to computers. If the hackers had wanted to collect ransom money, said cybersecurity experts, their attack was an utter failure. That is, if that was actually their goal. Increasingly sophisticated ransomware assaults now have cybersecurity experts questioning what the attackers are truly after. Is it money? Mayhem? Delivering a political message?”

June 25 – Reuters: “Qatar is reviewing a list of demands presented by four Arab states imposing a boycott on the wealthy Gulf country, but said on Saturday the list was not reasonable or actionable. ‘We are reviewing these demands out of respect for ... regional security and there will be an official response from our ministry of foreign affairs,’ Sheikh Saif al-Thani, the director of Qatar's government communications office, said… Saudi Arabia, Egypt, Bahrain and the United Arab Emirates, which imposed a boycott on Qatar, issued an ultimatum to Doha to close Al Jazeera, curb ties with Iran, shut a Turkish military base and pay reparations among other demands.”

June 27 – Reuters (Foo Yun Chee): “EU antitrust regulators hit Alphabet unit Google with a record 2.42-billion-euro ($2.7bn) fine on Tuesday, taking a tough line in the first of three investigations into the company's dominance in searches and smartphones. It is the biggest fine the EU has ever imposed on a single company in an antitrust case, exceeding a 1.06-billion-euro sanction handed down to U.S. chipmaker Intel in 2009. The European Commission said the world's most popular internet search engine has 90 days to stop favoring its own shopping service or face a further penalty per day of up to 5% of Alphabet's average daily global turnover.”
          Friday's News Links   
[Bloomberg] Technology Shares Lead Stock Rebound; Oil Gains: Markets Wrap

[Bloomberg] Tepid U.S. Consumer Spending Keeps Economic Rebound On Track

[CNBC] Trump reportedly 'hell-bent' on imposing steel tariff despite objections from most advisors

[Reuters] As credit dries up, China's small firms face shrinking profits, bankruptcies

[Bloomberg] China Manufacturing Rose in June Amid Global Upturn

[Reuters] Japan factory output tumbles, flashes warning signs on growth

[Reuters] Brightening economy sets euro up for strongest quarter since debt crisis

[Reuters] China builds new military facilities on South China Sea islands: think tank

[WSJ] Central Banks and the New Abnormal

[FT] Global bond market sell-off infects equities

[NYT] Fear of an End to Easy Money Prompts Sell-Off

[WSJ] Twisted Geniuses or Bumbling Ex-Academics?

[WSJ] It’s Whac-A-Mole for Chinese Regulators Trying to Clamp Down on Speculation
          Thursday Evening Links   
[Bloomberg] Tech Spoils Bank Party as Stocks, Dollar Slide: Markets Wrap

[Reuters] Wall Street bond traders get no reprieve from Fed's taper plan

[CNBC] Congress must raise debt ceiling by mid-October: CBO

[Bloomberg] Dollar's Battle Gets Harder With Fed No Longer Only Hawk in Town

[Bloomberg] Yuan Rides a Roller Coaster in June as China Fights With Market

[NYT] U.S. Seeks to Keep Closer Tabs on Chinese Money in America
          Comentario en La deuda técnica (technical debt) en el desarrollo de software por Desarrollo de software. A por las soluciones simples | Jummp   
[…] Este ejercicio puede ahorrar días o incluso semanas de programación a lo que habría que añadir que probablemente la solución más simple tenga aparejada una menor deuda técnica. […]
          Comentario en La deuda técnica (technical debt) en el desarrollo de software por Ken Auer. Roy Miller. El miedo a modificar el código (y el producto) | Jummp   
[…] de prueba y error) y con un sistema en los que los cambios se puedan realizar con agilidad (deuda técnica acorde a las características del sistema que se desarrolla, arquitectura y modelo de datos […]
          Comentario en La deuda técnica (technical debt) en el desarrollo de software por Bertrand Meyer. La complejidad es enemiga de la calidad del software | Jummp   
[…] posterior, ya que tendremos un software mucho más voluminoso que mantener (y con una mayor deuda técnica ) y habrá menos recursos económicos para […]
          Chief Compliance Officer - TrueAccord - San Francisco Bay Area, CA   
We deploy technology, machine learning, and data science to innovate and optimize how debt is collected. The Chief Compliance Officer (CCO) is responsible for...
From Indeed - Sat, 17 Jun 2017 02:01:35 GMT - View all San Francisco Bay Area, CA jobs
          July Podcast from Steelhead Capital - What is Going on with Debt Markets Now?   

The topic of this exclusive interview is the current state of turmoil and uncertainty in commercial debt markets.

(PRWeb July 02, 2013)

Read the full story at

          Greece is still the front line of the NWO invasion.   
Winning it's independence from the Sabbatean Atta Turq Greece at that time continued it's legacy as the nation of freeman. Now saddled with debt...

- Poster: Undestroyer - Views 216 - Replies 10

          7/1/2017: FINANCIAL POST: $279,000   
          7/1/2017: OPINION: Lyme patients owe late Gwen Barlee debt of gratitude   
Reporter Glenda Luymes wrote a wonderful tribute to Gwen Barlee, the hardworking environmental activist who passed away June 22. There was another side of Barlee that cannot go unrecognized. She suffered from Lyme disease and, without question, was...
          Your credit score may jump starting this month - CNBC   


Your credit score may jump starting this month
That's because improved standards for utilizing new and existing public records were implemented on Saturday for the three major credit reporting companies. As part of this change, a majority of civil debts and tax liens are excluded, which means some ...
Some consumers could see a boost to their credit scoresReading Eagle
Black marks fall off credit reports starting this monthColorado Springs Gazette
Why millions of consumers' credit scores will suddenly improve this weekendMarketWatch
Palm Beach Post -CNNMoney -Nasdaq
all 46 news articles »

          Orange County pays off bankruptcy debt   
          Yellen Against the Gods   

Ms Yellen says banks are better regulated and less likely to fail in a crisis. But latest tests show bank vulnerability to credit card debt has increased.

The post Yellen Against the Gods appeared first on Markets and Money.

          Student Transportation Inc. Divests Balance of Minority Interest in Various Oil and Gas Assets   
Student Transportation Inc. (STI) (TSX:STB) (NASDAQ:STB) announced that it has completed the sale of the remaining non-material assets of its subsidiary Canadex Resources, which it acquired in 2008, as part of an acquisition of several hundred school buses and school transportation contracts in Ontario, Canada. In addition to its school bus operation, Canadex at the time held various oil and gas well “minority interest” in several states in the U.S. The Company has since been winding down the portfolio over the past ten years and recently the assets represented less than one half of one percent of estimated fiscal 2017 Company revenues. The Company used the net proceeds from the $2.7 million dollar sale to reduce debt.
          Jungle gold 12/7/2012 review and thoughts   
   This was the season finale for "Jungle gold". In my opinion it didn't come quick enough.  It is no suprise that George and Scott failed and went home even further in debt. What I don't know is how much of this show was just scripted drama. I suspect a lot of it but who knows what Discovery channel was thinking with this show.  If you watched this week you got to see the guys do a large back road gold deal in a last stitch effort to save the season. You also got to see them road blocked and robbed of said gold. The stupidity, if it's real is just mind boggling. Why in the world are they doing something like this without a gun and why are they stopping for a road block? If that was me I would be in four wheel drive and going through them. Here is another safety tip. If you are in a third world country with a $70,000 dollar gold bar in your truck DON'T STOP THE VEHICLE!  I am happy Jungle gold is over. I don't know how much more I could take. George said they were coming back so investors beware. I only hope that there is not a season 2 in the works. What's your opinion on Jungle gold? Comments are welcome below. Don't forget to follow or subscribe and thanks for visiting my blog.  
          BP: Senior Credit Analyst - Polish Speaking   
Competitive: BP: Role synopsis Accountable to perform credit activities to ensure trade debtor balances are tightly controlled and credit risk appraisal of new and existing customers is carried out adhering to the Downstream credit standard & policies. The job holder has BudapestCentral
          Now Free: Household Budget   
Household Budget
Kategorie: Finanzen
Preis: 1,09 € -> kostenlos
Version: 32.0
in iTunes öffnen

Take control of your expenses and plan your financial future by creating a budget - Now. Household Budget does it for you. This simple app lets you create the budgeted entries for your income and expenses including but not limited to housing, food, transportation, clothes and personal services, healthcare, entertainment, education, contributions and debt payments, and their sub-categories, on a monthly and yearly basis.  Graphically visualize different kinds of expenses incurred to the total monthly expense, and how your monthly and annual savings change with the addition of income and expenses. Compare your spending against the guidelines for different categories. Also compare your expenses against the spending of the average consumer. Set goals for managing your budget on a monthly, quarterly, half-yearly or yearly basis. Create what-if scenarios for your income and expenses to better manage and plan your finances. The app not only provides you the weekly or monthly plan, but also lets you save it, so you can see and keep a track of your progress over time. If you would like to share the goals and the budget with your family members, simply tap e-mail, to send the information instantly anytime and anywhere. Alternatively, you can locally save, email and print the details on your family income, expense, savings, and goals. Understanding and improving your savings has never been easier. Youtube video for Household Budget 3.0 ...
          Trust Accountant   
IL-Chicago, RESPONSIBILITIES: Kforce has a client seeking a Trust Accountant in Chicago, Illinois (IL). Essential Functions: Asset Administration is responsible for monitoring and maintaining pools of bank loans that act as collateral for CDO/CLOs CDOs are structured finance vehicles that issue both debt and equity liabilities, with the proceeds being used to buy a portfolio of collateral Typical types of col
          Supervalu Inc. (SVU) Bonds Rise 2% During Trading Analyst   

An issue of Supervalu Inc. debt rose 2% against its face value during trading on Wednesday after Telsey Advisory Group lowered their price target on the stock from $5.50 to $4.50. The debt issue has a 7.75% coupon and is set to mature on November 15, 2022.

          (USA-MS-Jackson) Staff Registered Nurse (Primary Care Clinics)   
Job Overview ## Job Overview ### Summary Vacancy Identification Number (VIN): 1970857 **OUR MISSION**: To fulfill President Lincoln's promise – "To care for him who shall have borne the battle, and for his widow, and his orphan" – by serving and honoring the men and women who are America's Veterans. How would you like to become a part of a team providing compassionate care to Veterans? The G.V. (Sonny) Montgomery VA Medical Center in Jackson, MS provides primary, secondary and tertiary medical, neurological and mental health inpatient care. Services include hemodialysis, sleep studies, substance abuse treatment, post-traumatic stress disorder (PTSD), hematology/oncology and rehabilitation programs. Both primary and specialized outpatient services are available including such specialized programs as; ambulatory surgery, spinal cord injury, neurology, infectious disease, substance abuse, PTSD, readjustment counseling, mental health diagnostic and treatment programs. In addition, the facility provides comprehensive health care services for female veterans patients and offers an 86-bed Community Living Center which includes Palliative Care. VA encourages persons with disabilities to apply. The health related positions in VA are covered by Title 38, and are not covered by the Schedule A excepted appointment authority. ****The applicant(s) selected for this position may be eligible to receive an award through the Education Debt Reduction Program (EDRP) upon meeting established criteria. The EDRP award is subject to availability of funding. Please contact Human Resources to speak with the EDRP Coordinator for additional information.** ### Duties The Registered Nurse assigned to the Primary Care Clinics at the G.V. (Sonny) Montgomery VAMC will perform clinical duties as directed by the Associate Director for Patient Care Services through the Deputy Associate Director for Patient Care Services/Acute Care, Deputy Associate Director for Patienet Care Services/Long Term Care, designated Associate Chief of Nursing Service and Head Nurse (or designee). Duties include providing safe, basic care to include but is not limited to the following : * Adheres to established policies, standards of care and standards of practice. * Demonstrates leadership when providing nursing care. * Serves as a role model when assigned as team leader or charge nurse under the supervision of the Head Nurse or designee. * Applies the nursing process to systems or processes at the unit/team/work group level to improve care. * Demonstrates leadership by involving others in improving care. * Supports and enhances clients and self-determination. * Serves as a resource for clients and staff in addressing ethical issues. * Identifies and assesses resource utilization and safety issues, taking appropriate action. * Acquires knowledge and skills to maintain xpertise in area of practice. * Uses group process to identify, analyze, and resolve care problems. * Initiates/participates in quality improvement activities that result in improved outcomes. * Uses a body of research to validate and/or change work group pratice. **Work Schedule:** Primarily Monday-Friday, 7:30am-4:00pm with some variability based on the needs of the service. **Functional Statement Title/#:** STAFF REGISTERED NURSE/00000 ### Travel Required * Not Required ### Relocation Authorized * No Job Requirements ## Job Requirements ### Key Requirements * Must pass pre-employment examination. * Designated and/or Random Drug Testing required. * Background and/or Security Investigation required. * Must be proficient in written and spoken English. * Selective Service Registration is required for males born after 12/31/1959. ### Qualifications **BASIC REQUIREMENTS:** * U.S. citizenship. Non-citizens may be appointed when it is not possible to recruit qualified citizens in accordance with VA Policy. * Graduate of a school of professional nursing approved by the appropriate State-accrediting agency and accredited by one of the following accrediting bodies at the time the program was completed by the applicant: The Accreditation Commission for Education in Nursing (ACEN) or The Commission on Collegiate Nursing Education (CCNE). In cases of graduates of foreign schools of professional nursing, possession of current, full, active and unrestricted registration will meet the requirement of graduation from an approved school of professional nursing. * The completion of coursework equivalent to a nursing degree in a MSN Bridge Program that qualifies for professional nursing registration constitutes the completion of an approved course of study of professional nursing. Students should submit the certificate of professional nursing to sit for the NCLEX to the VA along with a copy of the MSN transcript. (Reference VA Handbook 5005, Appendix G6) * Current, full, active and unrestricted registration as a graduate professional nurse in a State, Territory or Commonwealth (i.e., Puerto Rico) of the United States, or the District of Columbia. **Grade Determinations: **The following criteria must be met in determining the grade assignment of candidates, and if appropriate, the level within a grade: * Nurse I Level I - An Associate Degree (ADN) or Diploma in Nursing, with no additional nursing practice/experience required. * Nurse I Level II - An ADN or Diploma in Nursing and approximately 1 year of nursing practice/experience; **OR** an ADN or Diploma in Nursing and a bachelor's degree in a related field with no additional nursing practice/experience; **OR** a Bachelor's of Science in Nursing (BSN) with no additional nursing practice/experience. * Nurse I Level III - An ADN or Diploma in Nursing and approximately 2-3 years of nursing practice/experience; **OR** an ADN or Diploma in Nursing and a Bachelor's degree in a related field and approximately 1-2 years of nursing practice/experience; **OR** a BSN with approximately 1-2 years of nursing practice/experience; **OR**a Master's degree in nursing (MSN) or related field with a BSN and no additional nursing practice/experience. * Nurse II - A BSN with approximately 2-3 years of nursing practice/experience; **OR** ADN or Diploma in Nursing and a Bachelor's degree in a related field and approximately 2-3 year's of nursing practice/experience; **OR** a Master's degree in nursing or related field with a BSN and approximately 1-2 year's of nursing practice/experience; **OR**a Doctoral degree in nursing or meets basic requirements for appointment and has doctoral degree in a related field with no additional nursing practice/experience required. * Nurse III - Master's degree in nursing or related field with BSN and approximately 2-3 year's of nursing practice/experience; **OR** a Doctoral degree in nursing or related field and approximately 2-3 year's of nursing practice/experience. **Preferred Experience:** * Primary Care, Emergency Department and/or Ambulatory Clinic experience Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g., Peace Corps, AmeriCorps) and other organizations (e.g., professional; philanthropic; religions; spiritual; community; student; social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience. **Note:** Only education or degrees recognized by the U.S. Department of Education from accredited colleges, universities, schools, or institutions may be used to qualify for Federal employment. You can verify your education here: If you are using foreign education to meet qualification requirements, you must send a Certificate of Foreign Equivalency with your transcript in order to receive credit for that education. **Education/Experience Requirements:** Experience as a RN will be evaluated to determine if the experience is of an acceptable level of quality with regard to the following four dimensions of nursing: Practice; Professional Development, Collaboration and Scientific Inquiry. Each dimension of practice has criteria that demonstrate essential core competencies for VHA Nursing Personnel. The criteria are as follows: **Practice:** Practice, Ethics and Resource Utilization **Professional Development:**Performance and Education/Career Development **Collaboration:**Collaboration and Collegiality **Scientific Inquiry:**Quality of Care and Research **Physical Requirements: **This position requires visual acuity, keen hearing, clear distinctive speech, and manual dexterity. This position requires potentially long periods of continued walking, standing, stooping, sitting, bending, pulling, and pushing. Transferring patients and objects may be required. The incumbent may be exposed to infected patients and contaminated material and may be required to don protective clothing in isolation situations or operative/invasive procedures. The incumbent may occasionally be exposed to patients who are combative secondary to delirium, dementia, or psychiatric disorders. The incumbent must be a mature, flexible, sensible individual capable of working effectively in stressful situations, able to shift priorities based on patient needs. ### Security Clearance Other Additional Information ## Additional Information ### What To Expect Next After we receive application packages (including all required documents) and the vacancy announcement closes, we will review applications to ensure qualification and eligibility requirements are met. During our review, if your résumé and application package do not support your questionnaire answers, we will adjust your rating accordingly. After the review is complete, a referral certificate(s) is issued and applicants will be notified of their status by email (if provided); otherwise, applicants will receive a notification letter via the U.S. Postal Service. Referred applicants will be notified as such and may be contacted directly by the hiring office for an interview. All referred applicants receive a final notification once a selection decision has been made. You may check the status of your application at any time by logging into your USAJOBS account and clicking on “Application Status.” For a more detailed update of your status, click on “more information.” Information regarding applicant notification points can be found in the USAJobs Resource Center. #### BENEFITS VA offers a comprehensive benefits package. This link provides an overview of the benefits currently offered: Annual leave shall accrue for full-time Nurses, and Nurse Anesthetists at the rate of 8 hours for each full biweekly pay period. ### Other Information It is the policy of the VA to not deny employment to those that have faced financial hardships or periods of unemployment. This job opportunity announcement may be used to fill additional vacancies. This position is in the Excepted Service and does not confer competitive status. This job originated on For the full announcement and to apply, visit Only resumes submitted according to the instructions on the job announcement listed at will be considered. *Salary Range:* $46,974.00 to $93,213.00 / Per Year *Series & Grade:* VN-0610-00/00 *Supervisory Status:* No *Who May Apply:* United States Citizens *Control Number:* 472666100 *Job Announcement Number:* VA-17-GDF-1970857-T38-BU
          Associate Attorney - Sprechman & Fisher, P.A. - North Miami Beach, FL   
Associate Attorney will need legal research and drafting skills. The firm represents creditors in their efforts to recover monies owed on defaulted debts....
From Indeed - Wed, 03 May 2017 13:36:21 GMT - View all North Miami Beach, FL jobs
          Comment on BUSTED: “Puerto Rican Paul” Ryan Paid Off Richest Family in Puerto Rico With Taxpayer Money #WI01 by Gretchen Sierra Zorita   
This article is so misleading to the point of being ignorant or FAKE. There's no bailout. That $70B debt is entirely for Puerto Ricans to pay. The only thing that Congress did (because Ryan did not do this alone) was to allow Puerto Rico to restructure its debt as it is done in the 50 states. But to even get there Puerto Rico had to accept a non-elected control board to balance the budget and restructure this debt. Puerto Ricans can have input but little control over their budget and fiscal affairs. Totally undemocratic and not what anybody would call a bailout. As for the Fonalledas, yes they are long-time Republicans and wealthy business owners. And as many other business owners they have lawyers to represent their interests in Washington. There is no way of anyone knowing what their lawyers were up to because most of it is confidential. Again, that's standard practice. A large percentage of the bonds are held by Puerto Ricans, including many retirees, so it's not just the Fonalledas who are hurting. If you are going to connect the dots, please make sure they are connected in the right numerical order.
          Christian RSS Feeds   
Christian RSS feeds offering information such as Christian blogs, Christian news, loans, debt reduction, credit repair, health, business, online degrees, insurance, business leads, Christian products, commerce and technology.
          Student College Grants - There Are a Lot More Possibilities Than You Think   
Being a student can be the first step to a rewarding career but often is is also the first step to a life of debt. Paying off student loans can take years and is a constant drain on your earning potential.
          New Private Home Sales Up By 82%   
Sales of new private homes defied expectations to surge to a near four-year high last month, when some property cooling measures were adjusted for the first time since they were first implemented in 2009.

Developers sold 1,780 new units - excluding executive condos (ECs) - up about 82 per cent from the 979 homes booked in February. This was also more than double the 843 homes shifted in March last year. Upcoming executive condo launches include Hundred Palms Residences, Anchorvale Lane EC, while existing ones include Parc Life, Signature at Yishun, Brownstone EC, Visionaire EC, Inz Residence, The Criterion EC and Northwave EC, The Terrace EC, The Vales EC, Sol Acres EC and The Bellewoods EC. Hundred Palms Residences details and Hundred Palms EC show flat will be available shortly.

Last month's strong showing took new home sales in the first quarter to 3,141 - the best quarterly effort since the second quarter of 2013, said consultancy CBRE.

Analysts said the sales figures released by the Urban Redevelopment Authority (URA) yesterday further point to a gradual recovery in the private residential property sector and are a huge boost to market sentiment. "This is reflective of a broad-based improvement in demand, with buyers not just attracted to newly launched projects, but also to those launched previously as well," noted Mr Ong Teck Hui, national director of research and consultancy at JLL.

Ms Christine Li, research director at Cushman & Wakefield, said: "With liquidity aplenty, waning concerns over the supply situation, buyers are coming back to the primary market in droves, as many are buying into the idea that Singapore's residential market is moving a step closer to a turning point."

Indeed, the level of new home sales last month has not been seen since June 2013, when 1,806 units were sold. Monthly sales cooled substantially after the Government implemented the total debt servicing ratio framework in June 2013.

Last month's robust sales were partly due to the slight easing of some cooling measures by the Government, which "have injected a shot of optimism among buyers", said ERA Realty Network key executive officer Eugene Lim.

The Government unexpectedly announced last month that it will shorten the seller's stamp duty holding period for homes bought from March 11 to three years instead of four years. It will also cut rates for each tier by four percentage points.

The two best-selling private projects were both new launches: CEL Development's Grandeur Park Residences in Tanah Merah, which sold 484 units at a median price of $1,406 per sq ft (psf); and Lendlease's Park Place Residences At PLQ in Paya Lebar. This moved 217 units at a median price of $1,805 psf.

"Buyers are more prepared to make a purchase, in view of prices possibly bottoming out. The impetus to procure land is becoming more urgent for developers as the unsold inventory of projects in the market is steadily being cleared," noted Mr Joseph Tan, executive director of residential services at CBRE.

The URA data showed that suburban areas led sales last month with 1,123 new units sold, followed by 589 in the city fringe and 68 in the core central region.

In the EC segment, developers sold 578 new units last month, up by about 76 per cent from February. This was driven by healthy sales at the new iNz Residences in Choa Chu Kang, which moved 187 units at a median price of $774 psf.

March's sales momentum is likely to carry through to coming months as several projects are due to hit the market.

These include Seaside Residences in Siglap, Artra in Redhill and Martin Modern in Martin Place.

Despite the surge in sales and the positive sentiment, it is premature to conclude that private home prices will increase this year.

Mr Nicholas Mak, head of research at SLP International Property Consultants, said: "Some developers may try to up prices to test the market, but it is not enough to move overall prices because only very selective well-located projects can pull off this strategy."
          Screen Shot Reflecting Performance of my LendingClub Peer-2-Peer Lending Account and General Attributes to Lending Success   

I have been lending at this site since late 2008.  My year-over-year statistics include:

  Balance Jan 1st Balance Dec 31st Account APY Notes Sold
2009 $125.72 $1,516.71 7.70% 4
2010 $1,516.71 $2,729.71 9.49% 16
2011 $2,729.71 $5,964.22 10.98% 41
2012 $5,964.22 $9,044.87 11.45% 172

You may wonder why there is a large difference between what LendingClub advertises as "Net Annualized Return" and my self calculated account APY.  I believe the principal reason for difference between these two is that LendingClub's calculations do not factor in FolioFn fees and loan losses incurred when selling loans at FolioFn.

I attribute my success at LendingClub to:

1.  Multiple years of lending at Prosper before opening my LendingClub account.  I lent about $5500 over several preceding years at Prosper and had a net loss of $50.  Over my time at Prosper, I learned a few lessons about risk-return.  I no longer use Prosper.

2.  Over 90% of loans originated are to borrowers whose projected revolving debt balance (after loan) is no more than three times their income.  This requires one to trust the marketed loan purpose at face value... (e.g. debt consolidation loans end up being used 100% for debt consolidation).

3.  Most of my loans are to borrowers reporting over $3000 per month for income.  I feel that the these borrowers have a greater latitude for paying basic living expenses and then having room in their budget for debt payback.

4.  I have ALWAYS sold non-performing notes.  Over 90% of the time, I sold notes that were no more than 15 days late in payment.  Most of the time between 2009 and Nov 2012, I sold notes in the hours between the time I discovered their monthly payment was was late and the time at which the note changed to an "in grace period" status.

5.  In November 2012, I noticed that the FolioFn trading platform was performing poorly and not displaying notes very well when users attempt to sort notes by Yield to Maturity.  Because of this, a number of my notes "in grace period" did not sell very well.  While I experienced some short term disgust with the FolioFn platform, it did prompt me to start selling notes well prior to them entering "in grace period" status.  Now, a majority of the notes I sell are those notes that have had a greater than a 35 point credit score drop since the loan was originated.  I typically sell these notes for around 0.99 to 0.995 cents on the dollar and eat the additional 1% FolioFn fee.  I would rather sell loans prior to a delinquency than have them age to an "in grace period" status and have to deal with the inadequacies of the FolioFn note trading platform.  If FolioFn is acting up (as it has in the past), it could cause notes that would normally sell to age and result in delinquency statuses of 17+ or 31+ days.  Notes that age to delinquency statuses of 17+ and 31+ days have required me to discount them 25-75% in order to get them sold.

          My Net Annual Return on Lending Club Account Up from 9.5% in 2010 to 11.0% in 2011   
I have been originating (peer-2-peer) loans at Lending Club since Dec 2008. Since starting, I have issued 371 loans, of which:

56 loans fully paid off
0 loans late, default or charged off

In 2009, I made a net 7.7% return on my investment (after fees and note sales). During 2009, I only had one losing month where I had a monthly annualized return of negative 5.24%.

In 2010, I made a net 9.5%. My worst month had a monthly annualized return of 0.89%.

In 2011, I made a net 11.0%. My worst month had a monthly annualized return of

Lending Club says my account has a net annualized return of 13.87% and total interest earned of $905.74. Each of these are way off my actual return. My net earnings are actually some $200.65 less than what Lending Club advertises. The problem with Lending Club is that it doesn't fully factor in all fees and losses incurred in the sale of notes.

Overall, with exception to Lending Club not having "net earnings" and "net annual yield" displayed on its account dashboard, I am satisfied with Lending Club.

I attribute my greater success in 2011 to increasing my risk tolerance in notes that i'm willing to fund. Since 2009, I have been aggressive to sell notes before they hit 16 days late. By doing this, I book small monthly losses on some notes vice periodic large losses on defaults. Additionally, it is best to do small loans of
$25 since more people have funds available and are willing to risk buying small late loans. I will continue to execute this strategy and pursue lending club notes above 14%.

My note filter is:
Interest rate: Excludes A and B rated notes
Term: 36 and 60 month
Funding progress: 10% or more
Max loan amount: $25k
Exclude loans invested in: Yes
Max debt-to-income: 20%
Months since last delinquency: 12 months or more
Inquiries in the last 6 months: 3 max
Min length of employment: 1

In addition to this, I am reluctant to fund notes where the monthly income is less than 1/3 of total revolving credit balance. I exceed this sometimes when I believe that the individual is truly going to use the money for debt consolidation.
          CNBC Million Dollar Portfolio Challenge - Bonus Bucks   
Bonus bucks answers for 12/2

1. According to Ilian Mihov, a professor of Economics at the INSEAD business school, Italy will have to refinance what percentage of its total debt in 2012.


2. What major government official told a news conference on Thursday that the United Kingdom is preparing itself for a wide range of European financial crises?

ANSWER: Bank of England Governor Mervyn King

3. According to a new report, how many days delinquent is the average housing loan in foreclosure?

Answer: 631 days
          CNBC Million Dollar Portfolio Challenge - Bonus Bucks   
CNBC Bonus Bucks Answers for 11/23

1. Independent think-tank Reform said the UK needs how many years of austerity to resolve its debt problems?

ANSWER: at least 10

2. Mr Yen, or Eisuke Sakakibara, expects the Japanese authorities to intervene in the forex market once again when the yen reaches what level against the dollar?


3. In a recent interview on CNBC’s Squawk Box, trader Kevin Ferry of Cronus Futures Management compared long-term interest rates to a:

Answer: “Hot, sexy girl”
          DeVos Loosens For-Profit College Rules; More State Cash May Head To Religious Schools   
Hello and welcome to our weekly education news roundup. DeVos "presses pause" on for-profit college regulation Two weeks ago, we reported that Education Secretary Betsy DeVos was rolling back the "gainful employment" rule intended to rein in for-profit colleges. On Friday, she took a further step back. On July 1, colleges were supposed to begin disclosing information about program performance to students in their marketing materials. The schools now have an extra year to comply. "Once fully implemented, the current rules would unfairly and arbitrarily limit students' ability to pursue certain types of higher education and career training programs," DeVos said in a statement . As we reported on the details of the rule: "Colleges and universities were to be evaluated based on how many graduates are able to pay back their loans. The logic being, if too many students end up with low incomes and high debt, the program is not offering good value for money. Programs that consistently failed
          Reference Data Analyst Intern part time - Budapest munkakörbe keresünk munkatársat. | Feladatok...   
Reference Data Analyst Intern part time - Budapest munkakörbe keresünk munkatársat. | Feladatok: Research and acquire in depth knowledge of the market data content models of upstream data suppliers to MSCI for multiple financial asset classes Learn and apply business logic required to normalize set of terms and conditions data models Work closely with Senior Terms and Conditions Analysts in the implementation and maintenance of these business rules Monitor quality of terms and conditions data on a daily basis Understand the use of MSCI Risk Management Software and workflow of Terms and Conditions Data Understand new reference data requirements and work with Business and Development Groups. | Elvárások: Pursuing University program with focus on Finance, Economics, Engineering, Mathematics, Statistics or another quantitative field with strong knowledge of finance Demonstrated interest in financial markets, products and risk management Interest in market data content management ? specifically in any or all of equities, equity derivatives, domestic and international mutual funds, fixed-income govt./corporate debt, structured debt, commodity futures, commodity derivatives and credit derivatives Interest working in environment that combines finance and technology Programming experience in Visual Basic, Perl and C/C++ is a plus Knowledge of SQL and relational databases, preferably Oracle is a plus Must be willing to work in a global team environment and able to move things forward via strong communication skills Strong problem-solving skills, attention to detail Possibility to work part time 20-30 hours a week | További infó és jelentkezés itt:
          Collector - Sprechman & Fisher, P.A. - North Miami Beach, FL   
Our goal is to represent our clients by collecting their outstanding debts in an efficient and cost effective manner while treating each debtor with respect and...
From Indeed - Thu, 11 May 2017 15:12:34 GMT - View all North Miami Beach, FL jobs
          Debt Finance - WilmerHale - Boston, NY   
WilmerHale is currently seeking highly qualified attorneys to join its Debt Finance Practice. The ideal candidate would have two to five years of experience...
From WilmerHale - Mon, 06 Mar 2017 11:14:25 GMT - View all Boston, NY jobs
          Hi for everybody Всем Привет   
Замена масла акпп Вольво (Volvo) Сохрани АКПП — замени масло в коробке со скидкой! СоЮ.. Continue reading
          Inspector/Field Representative Legal Support Services - Veranova Properties Limited - O'Leary, PE   
Reliable vehicle, cell phone, computer, tools. Comfortable with and adaptable to dealing with distressed properties and customers or debtors....
From Indeed - Tue, 16 May 2017 15:35:26 GMT - View all O'Leary, PE jobs
          Inspector/Field Representative Legal Support Services - Veranova Properties Limited - Alberton, PE   
Reliable vehicle, cell phone, computer, tools. Comfortable with and adaptable to dealing with distressed properties and customers or debtors....
From Indeed - Tue, 16 May 2017 15:36:01 GMT - View all Alberton, PE jobs
          Caisse Cautious on London Real Estate?   
Matt Scuffham of Reuters reports, Canada's Caisse cautious on London amid Brexit fears:
Caisse de depot et placement du Quebec, one of the world's biggest real estate investors, is holding off on major investments in London real estate amid uncertainty over the impact of Britain's planned exit from the European Union.

Canada's second-biggest public pension fund has been an enthusiastic investor in Britain and earlier this year agreed to finance the expansion of London's Heathrow airport in which it is one of the biggest shareholders.

Until recently, London was one of the cities the Caisse was most committed to investing in along with New York and Shanghai.

"That is still certainly true for Shanghai, true for New York," Caisse Chief Executive Michael Sabia told Reuters in an interview on Wednesday.

However, the Caisse has turned more cautious on Britain's capital after Prime Minister Theresa May lost her majority in a parliamentary election in early June, giving her a weaker hand in negotiating Britain's exit from the EU.

"We're pretty cautious right now about making meaningful and significant investments in London real estate," Sabia said.

The Caisse has not seen any impact yet on valuations of its existing real estate portfolio in London which is primarily in high-end office buildings. However, Sabia said valuations of less desirable properties were being affected.

"The question is how far does this go, does it spread? That is why we're being careful until we have a better sense."

Sabia also said Britain's economy, which initially withstood the shock of the Brexit vote, was starting to hurt.

"I think you're going to see slowing in the UK as the reality of Brexit begins to affect decision making more, I think we're already seeing some of that."

The Caisse, which manages public pensions for retirees in Quebec, has a dual mandate both to maximise returns for depositors and support economic growth in the Canadian province.

A $1.5 billion investment in Bombardier (BA.N), headquartered in Quebec, has been slammed by U.S. rival Boeing (BA.N) as an unfair subsidy but Sabia rejected that characterisation as "absolute nonsense" on Wednesday.


Caisse is embarking this year on the construction of the world's third-biggest public transit system in its home city of Montreal, a groundbreaking project which will see the pension fund take responsibility for both the funding and construction.

The C$6 billion project, which has also received funding from the Quebec government and Canada's federal government, is seen as a test case by other pension funds which normally prefer to invest in 'brownfield' infrastructure that has already been built rather than take on the construction risk through a 'greenfield' project.

But competition for assets such as roads, bridges and tunnels that have already been built has intensified as investors look for alternatives to low-yielding government bonds and volatile equity markets.

Sabia said he believes the Caisse will have an advantage over rivals from developing the skills in-house to manage the construction of new infrastructure and wants to replicate the model in the United States and Europe if it succeeds.

He also argued that much infrastructure development falls between the two, citing Heathrow Airport, where the infrastructure is being expanded, labelling them 'khaki' projects.

"You've got to have the capacity to work across that spectrum, to have a full product offering is something that's going to differentiate yourself in the market."

The Caisse invests money on behalf of workers and retirees in the province of Quebec and Sabia admitted that there would be reputational risk if money was lost on the Montreal transit project.

"Doing things differently and some degree of innovation always comes with some risk. If those reputational issues are so big in your mind then you're condemned to live in the status quo for ever.

"In an investment world that's changing as much as we think it is changing, staying in the status quo means you're toast."
There are two parts to this article. The first deals with the effects of Brexit on the UK economy.

Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen of LSE's Centre for Economic Performance published a paper, The consequences of Brexit for UK trade and living standards, which you can read here.

Their main findings are listed below (click on image):

The authors of this paper even quantified the effects of Brexit on UK livings standards under an optimistic and pessimistic scenario (click on image):

As you can see, the effects of Brexit on UK living standards are not good under both scenarios but are particularly terrible under the pessimistic scenario.

Now, these are academic studies and critics will claim they're too gloom and doom. Still, it's clear that Brexit will have an impact on trade and UK living standards, we just don't yet how this will all play out.

As far as London, the financial center of Europe, there are some diverging views among Canada's large pensions. PSP Investments, the other large pension fund in Canada, opened a London office recently which it considers its European growth hub.

However, just like Michael Sabia,  PSP's CEO André Boubonnais, is equally cautious on UK real estate and infrastructure. The latter believes London will continue to be the financial hub of Europe but he too is very cautious when it comes to making big investments in UK's private markets (PSP's main focus is on expanding private debt operations in Europe but it is looking at investments in infrastructure and real estate).

My thoughts on London? It's a global financial center just like New York and to a lesser extent Toronto. In other words, a long bear market or profound shock in the markets aren't too bullish for London, New York or Toronto.

London also houses some very large well-known hedge funds like Brevan Howard which hasn't been performing too well lately. Troubles in Hedge Fund Land don't typically bode well for commercial real estate in large financial centers but the rise of technology juggernauts has helped ease the burden of relying too much on financial firms.

Anyway, the Caisse's real estate subsidiary, Ivanhoé Cambridge, is among the biggest and best real estate investors in the world so I'm confident they know what they're doing when it comes to their decision to be more cautious in terms of London real estate.

As far as the second part of the article, it deals with Michael Sabia's baby, the C$6 billion Réseau électrique métropolitain (REM) project. I recently discussed my thoughts on this project when I went over Ontario Teachers' new infrastructure approach, stating this:
[...] this is one approach. Another approach is what the Caisse is doing now with its massive REM project, which is a purely direct greenfield project. The Caisse got a loan from the Quebec government and will receive money from the federal government too, but what Macky Tall and his team are doing in Montreal is unlike anything any large Canadian pension is doing in infrastructure.

[Note: The Caisse de dépôt et placement du Québec just received confirmation of a $1.283-billion investment, by the Government of Canada and Prime Minister Justin Trudeau, in the Réseau électrique métropolitain (REM) project.]

I just finished covering the International Pension Conference of Montreal and PSP's fiscal 2017 results where I noted that PSP's CEO André Bourbonnais is concerned about investor complacency and rightfully warned institutional investors are underestimating valuation and regulatory risks of infrastructure, mistakenly looking at these investments as a substitute for bonds.

In a private conversation with me at last year's pension conference, Leo de Bever, AIMCo's former CEO, told me he thought some of the infrastructure deals were being priced at "insane levels". I can't tell you which deals he mentioned (will let you guess), but he did add this: "what the Caisse is doing with this greenfield infrastructure project is truly innovative and can pay off in a huge way if they get it right."

I agree. There is no large pension in the world which is doing anything close to what the Caisse is doing in terms of a purely direct major greenfield infrastructure project where it controls everything from A to Z.

In order to do this project, CDPQ Infra went out and recruited people with the requisite skill-sets, people with operational experience developing and managing mammoth greenfield projects (not just MBAs and dealmakers but engineers with MBAs who worked at large construction engineering companies like SNC Lavalin and elsewhere).

This is why I was so disappointed to learn that the new Canadian Infrastructure Bank will be based in Toronto. I respect Jim Leech but in my humble opinion, Montreal, not Toronto, should have been the first and only choice as the headquarter this new federal infrastructure bank and I would have placed someone like Bruno Guilmette, PSP's former head of Infrastructure or someone else I know well as the head of this bank (I'm getting a bad feeling that this new infrastructure bank is going to be staffed by the wrong type of people).
In my opinion, Toronto was chosen as the headquarters of the new federal infrastructure bank because it is the financial epicenter of Canada and all the big pension funds are based there. Still, this decision irks me because Montreal needs a new federal Crown corporation based here (apart from the BDC) and we have plenty of infrastructure expertise that Toronto doesn't have. The Caisse's REM project is a testament to such world class expertise.

Anyway, even if it's headquartered in Toronto, hopefully they will staff this new infrastructure bank with the right people, not just a bunch of cowboy dealmakers.

[Note: A friend of mine reminded me that Toronto has the best infrastructure fund in the world, "it's called Brookfield and they are eons ahead of everyone else." Good point.]

Once again, if you have any thoughts on this comment or want to add anything, feel free to email me your thoughts at and I will be glad to post your comments.

Below, Lindsey Naylor on the macroeconomic impact of Brexit on the domestic economy, and the importance of regulatory matters in sustaining the ability of UK-based firms to face European clients.
Ms Naylor was speaking at the LSE Growth Commission’s Evidence Session on Finance and the City of London held at the Army and Navy Club on 6 December 2016. She is Partner in Oliver Wyman’s Global Corporate & Institutional Banking practice.

And on June 15, 2017, in Montreal, Prime Minister Justin Trudeau, Quebec Premier Philippe Couillard, Montreal Mayor Denis Coderre, and Michael Sabia, President and CEO of the Caisse discussed the federal government’s investment in Montreal’s Réseau électrique metropolitan (REM) light-rail network. Following the announcement, the prime minister, premier, and mayor respond to questions from reporters (in both French and English). You can watch it here.

Lastly, André Bourbonnais, president and CEO of PSP Investments, joins Bloomberg TV Canada’s Lily Jamali to discuss opportunities in the private debt market and his plans to expand globally. Listen carefully to his views on London, this is a great interview.

          DeVos Loosens For-Profit College Rules; More State Cash May Head To Religious Schools   
Hello and welcome to our weekly education news roundup. DeVos "presses pause" on for-profit college regulation Two weeks ago, we reported that Education Secretary Betsy DeVos was rolling back the "gainful employment" rule intended to rein in for-profit colleges. On Friday, she took a further step back. On July 1, colleges were supposed to begin disclosing information about program performance to students in their marketing materials. The schools now have an extra year to comply. "Once fully implemented, the current rules would unfairly and arbitrarily limit students' ability to pursue certain types of higher education and career training programs," DeVos said in a statement . As we reported on the details of the rule: "Colleges and universities were to be evaluated based on how many graduates are able to pay back their loans. The logic being, if too many students end up with low incomes and high debt, the program is not offering good value for money. Programs that consistently failed
          The only reasons I go to New York are...   
When I first moved back to New Jersey in 2013, the state where I grew up and lived until age 17 (although I was born in New York City and spent my first three and a half months in the hospital there), I experienced a lot of FOMO. There was always something cool happening in New York and while I lived in Red Bank at the time, and we had some cultural offerings, they were nothing compared to New York, and nothing book-related save for one very short-lived literary event production company.

I was very wasteful when I lived in Red Bank, hopping on that hourly New Jersey Transit train to Penn Station whenever I felt like it. I can't change that, but now that I live much closer to Philadelphia than the Empire State, I've realized that I can live without everything New York has to offer. Do I miss my friends? Of course, but I do my best to stay in touch by email and phone and text and social media, and see them when I do travel there.

Which brings me to the rule I made for myself, which is part of my nesting and saving plan to put some action with my words of the year: I'll only go to New York for family, flights, work or with my boyfriend. See, it's two and a half hours each way and $42 dollars, not to mention somewhat draining to rush to catch the bus. I just did the calculations and realized that 10 trips to New York cost, at minimum, $420, not counting subway fare and any money I'd spend there. There's dozens, probably hundreds, of amazing cities and places I've never been, so why go to one I lived in for over a decade all the time when I could take that same money and save up for an actual vacation?

In June, I broke that rule because I wanted to see some dear friends. It was a lovely visit, but one better suited to someone in a far better financial situation than I am. I miscalculated my schedule because I normally work my hourly job on certain days, but had rearranged it because of a family trip to Denver (I paid for the flight using JetBlue miles and scored part of our stay for free with Kimpton Karma Rewards). So I left work two hours early, adding on to the cost of the trip in lost income. Now, in that one case, was it "worth it?" Yes, but the price tag reminded me that until I'm entirely debt free, I have to make seeing friends part of my other trips.

So today, I'm hopping on an 8 a.m. bus because my grandfather is being given an award by the French Legion! Now that's a reason to make the trip. I'm also going to see a friend, who's joining me at Untitled Space Gallery for an exhibit, Secret Garden, I really want to see (if I can take photos of the art, I'll post them on Instagram. Would I have FOMO if I never got to see that exhibit? Maybe a little, despite my promise to myself to cut that emotion out of me once and for all, but I'd be fine. What I've learned becoming a Jersey girl again is that there is real life happening all around me. I volunteer at my local food bank. I work out at my local gym. I got to lunch with my neighbor. I take walks in my neighborhood. I try to ignore the big box store that treats its workers like shit that's opening nearby.

I'll be in and out of the Big Apple a few more times this year, the next two times to head to JFK for family trips (a bachelorette party in New Orleans and a quick summer visit on Martha's Vineyard with family members who lived across the globe), then in September when I'm teaching an erotica writing class at Sexual Health Expo (SHE) in Brooklyn. I may have one more flight out of JFK, though I'm doing my best to fly from Philadelphia these days. My hope is that I can winnow down my New York trips to a handful a year, not because I don't love certain aspects of the city, but because the whole point of nesting and saving was to have enough profit to decide where I want to go next, to have financial freedom. Spending so many hours on a bus or in a car just to go to the same place ad nauseam isn't my idea of a good time. It may sound obvious: Find New York draining? Don't go. But old habits die hard, especially for me, so figuring out how to stay more focused on the life I have now rather than the life I used to have is challenging. There are still services I use exclusively in New York, a city where almost every block I walk down has a memory attached.

Today I'm looking forward to seeing family, friends and art...but also to getting back home where I belong. The other big thing that's changed is that I'm a tourist. I have to look up which subway to take to get places. There are always unfamiliar sites. I got disoriented and overwhelmed by a city I used to think I'd never leave. It's a compelling and always buzzing and gorgeous city, but it's not mine anymore. My way of thinking and acting is slower, calmer, out of sync with the pace of NYC life. I used to think it was a shame that I changed, but now I see that it was just part of growing up. I'll be doing another post about how my business has done the first half of 2017 and how much I've nested and saved (spoiler alert: not as much as I could have), but I think it's safe to say it would've been a hell of a lot harder to do as well with all the distractions, wonderful as they are, of New York. I'm glad I live close enough to see my family who live there and who travel through there, and to occasionally catch up with my friends, but I am very happy with my Jersey girl life and whatever comes next with it.
          Help! OOS California Colleges Low Income??   
Hello everyone, I am about to be a senior in high school during the 2017-2018 school year, and I would love to attend a college in California (preferably closer to LA). However, this dream seems to be next to impossible if I want to find a balance between affordability, quality of education, and actually being able to get into the college. My stats are: ACT 29, UW GPA 3.35, W GPA 3.75? I took college classes at a local CC full time junior year and part time sophomore year. My school only will weigh the classes they offer at my high school at the AP level, so only like 5 total! CC GPA 3.3. Intended Major: Engineering? pretty undecided atm Grades at CC: Sophomore year: A,B,D the D was English comp 1 and I got an A English comp 2 junior year so that teacher basically sucked. Junior year: A,A,A,C,A,A,A,C. Income: Aprrox. $60k between mom and dad after taxes. Ethnicity: White male, I have first cousins that are NA but I don't think putting down NA on applications would be very ethical. So my dilemma has been trying to find a college in CA that I could actually get into, since Stanford is obviously not a possibility and USC would be a reach of all reaches, I am not really even close to the average accepted student. UC schools offer almost no financial aid for OOS and there would be no point in taking out that much debt even tho UCLA would be awesome. Other private schools like the Claremont colleges are also sadly out of reach imo that offer good financial aid. I also would not want to go to Cali if I wouldn't be getting a good education, as I feel my stats are good enough for decent colleges. In conclusion I would really appreciate recommendations to CA colleges taking into consideration cost, quality, and admissions chances. Thanks so much!
          Mid Year 2017 Portfolio Review   
My portfolio is up 15.75% for the first six months of 2017, pulling up my since inception IRR to 23.74%, and comfortably ahead of the S&P 500's 9.34% gain so far this year.  Significant winners have been Tropicana Entertainment, MMA Capital, Pinnacle Entertainment and Resource Capital, the only significant loser has been New York REIT.
Closed Positions:
  • ILG Inc (ILG): In hindsight, this was one of my favorite special situations of the past several years.  ILG (f/k/a Interval Leisure Group) had entered into a reverse morris trust transaction with Starwood prior to the announcement of Starwood's merger with Marriott, thus those that wanted to play the merger arb on the Starwood/Marriott transaction had to short out both Marriott and ILG against Starwood creating an uneconomic selling pressure on ILG's shares.  Since the deal has closed, ILG has run up well over 100%, I unfortunately sold a little too soon in the low $20s as ILG is now being bid up under speculation of a merger with Marriott Vacations Worldwide (VAC).  I'll be looking closely for ideas like this in the future, something similar was the Dell buyout of EMC/VMWare which created a coiled spring in VMWare stock that's caused the DVMT tracker to do very well too.
  • Actelion (ALIOY):  The Actelion/J&J deal closed and the development stage biotech company that was created out of the merger, Idorsia, has done very well too.  I bought the unsponsored ADR, there was a short week or two there when the shares dropped and people started speculating on why and if withholding taxes were going to be an issue, I got scared out of my position, ended up making a small amount of money but left some on the table.
  • CSRA (CSRA):  CSRA is the government services spinoff of CSC, with CSC I had the right idea at the time of the spinoff, CSC was setup to be sold and it was earlier this year when it merged with a division of HP Enterprises in a reverse morris trust to create DXC Technology (DXC).  I haven't spent much time on DXC, but CSC turned out to be the better side of the CSC/CSRA split.   I ended up selling CSRA earlier this spring in a slight fit as I didn't realize pension income was being included in their "adjusted" EBITDA figure they were presenting.  It caused the shares to look artificially cheap compared to peers and I just missed it, lesson learned.
  • WMIH Corp (WMIH):  The white whale of NOL shells, with over $6B in NOLs and apparently no dance partner in sight, it appears like the company's sponsor KKR is unable to find a deal that makes sense, they can walk in January, and will likely use that as leverage to strike an even more advantageous deal with WMIH.  If a deal does happen in the meantime, there still could be money to be made after but I don't see a reason to wait around any longer.
Previously Unmentioned New Positions:
  • Miramar Labs (MRLB):  Miramar Labs is another CVR opportunity, and even smaller than the others mentioned on the blog, but they make a medical device that's used to reduce underarm sweat and hair.  It's more of a elective beauty and/or lifestyle product that is sold to plastic surgeons, spas, etc, and its treatments are paid in cash and not processed through insurance companies.  Sientra (SIEN) is buying Miramar for $0.3149 per share upfront and $0.7058 per share in contingent payments for a total just over $1.02 per share.  The contingent payments are a little unique, where the milestone is a cumulative net sales number with no deadline.  Unlike the other CVRs that rely on an FDA approval, here Miramar already has an approved and commercialized product, so unless the sales flop going forward, the payout should occur, its just a matter of when.  The big payout is for $80MM in sales, Mirmar did $20MM in sales last year, but they're seeing some growth, I'm modeling out a 3-3.5 year timeframe to hit the milestone payment which at current prices of around $0.55 per share generates a pretty nice IRR.  Thanks to @yolocapital on Twitter for pointing it out to me.
  • Sound Banking Company (SNBN):  Sound Bank is a tiny North Carolina based community bank that is being acquired by another small bank but with high growth ambitions, West Town Bancorp (WTWB).  There are many small bank mergers happening, if I was less capital constrained, or had a lower risk mandate I'd probably be diving head first into more of these as the spreads are fairly wide for what should be low risk deals.  West Town Bancorp is offering $12.75 in cash or 0.6 shares of WTWB for each share of SNBN.  With SNBN currently trading at $13.40, you could create shares of WTWB for $22.33 when they currently trade for $24.45.  There is a cap on the cash/stock consideration, so proration is likely with the stock trading over the $12.75 cash payout, but it still seems/seemed like a good bet, the merger is expected to close in the third quarter.
  • Interoil Corp (IOC) Contingent Resource Payment:  I got bored and ended up trying this CRP/CVR the day or two before the merger with Exxon Mobil was completed, no view on how much natural gas is actually in PNG, so its a pure speculation that should be decided in the next quarter.
Current Holdings:
I added a little money earlier this year, the performance figures take that properly into account.

Disclosure: Table above is my blog/hobby portfolio, its a taxable account, and a relatively small slice of my overall asset allocation which follows a more diversified low-cost index approach.  The use of margin debt/options/concentration doesn't represent my true risk tolerance.

          Nebraska’s fiscal health 6th best in nation, but state still hides debt   
Nebraska is the sixth best state in the nation when it comes to its fiscal health -- having enough money to pay all its bills -- but the state is massively underreporting how much it owes for retirement benefits, a new report says.
          Ralston officials mulling 34 percent tax hike to make arena payment   
Ralston city officials are moving money around and considering raising property taxes a whopping 20 percent and creating a 2 percent restaurant tax to help shore up the Ralston Arena budget and make the arena’s debt payments.
          Arena study: Projections were too rosy, time for ‘reset’   
The results of a consultant’s study of Pinnacle Bank Arena are in, and the verdict is clear: It’s time for the arena’s umbrella agency that pays off the arena’s construction debt to start giving more of its money to the arena.
          Venezuela Is Broke, But Will Continue Paying Wall Street Bond Lords Anyway   
Fitch reaffirms Venezuela's super-duper junk bond status. And says the country's commitment to servicing its debt remains in tact despite major upheaval.
          Orange County pays off the last of $1-billion bankruptcy debt   

When Todd Spitzer first ran for a spot on the Orange County Board of Supervisors in 1996, he did so with a promise to be a good steward of the public’s money.

“My campaign was focused under the shadow of the largest municipal bankruptcy at that point in the history of the country,” he said Saturday.

          Key Skills: Debt Syndication Development of Business plan   
Required skills: Debt Syndication Development of Business plan and its implementation. *Maintaining
          Woman Racks Up 200K In Data Charges   
We have just learned that a 33 year old woman from Australia is in debt of $193,187.43 after being sentenced to a year and a half in prison for stealing a SIM card from a utility meter. The woman's name is Kylie Maree Monks and the sentence came after she plead guilty to computer-related fraud, receiving stolen property, and one count of making a false statement.

She was also charged for stealing a SIM card from a utility meter, that had a WiFi connection Telstra's wireless broadband network.
          America's Pension Bomb: Illinois Is Just the Start   

We've written quite a bit over the past couple of months about the pending financial crisis in Illinois which will inevitability result in the state's debt being downgraded to "junk" at some point in the near future (here is our latest from just this morning: "From Horrific To Catastrophic": Court Ruling Sends Illinois Into Financial Abyss).

Unfortunately, the state of Illinois doesn't have a monopoly on ignorant politicians...they're everywhere.  And, since the end of World War II, those ignorant politicians have been promising American Baby Boomers more and more entitlements while never collecting nearly enough money to cover them's all been a massive state-sponsored scam.

As we've noted frequently before, some of the largest of the many entitlement 'scams' in this country are America's public pension funds.  Up until now, these public pension have been covered by stealing money set aside for future generations to cover current's a ponzi scheme of epic proportions...$5-$8 trillion to be exact.

Of course, the problem with ponzi schemes is that eventually you get to the point where the ponzi is so large that you can't possibly steal enough money from new entrants to cover redemptions from those trying to exit...and, with a tidal wave of baby boomers about to pass into their retirement years, we suspect that America's epic ponzi is on the verge of being exposed for the world to see.

And when the ponzi dominoes start to fall, Bloomberg has provided this helpful map to illustrate who will succumb first...


Of course, if you live in a state like South Dakota, you may take some solace from the fact that your public pension is fully funded...don't. 

Once the dominoes start to fall, and they will, those "ignorant politicians" we mentioned above will think they're doing the right thing when they attempt to "socialize the issue" with federal bailouts and tax hikes.  Unfortunately, this is one crisis that will be too large for even American taxpayers to bailout.

          International League says it's obligated to 'backstop' PawSox' debt for a new stadium   
Questions are swirling around who would "backstop" $71 million worth of bonds that the City of Pawtucket, the State of Rhode Island and the Pawtucket Red Sox would sell to finance a new baseball stadium in Pawtucket:Would Rhode Islanders be on the hook to pay back principal and interest owed on the state's portion of the bonds if anticipated revenue falls short?Would residents from Woonsocket to Westerly have to step in to support the City of Pawtucket's [...]
          What Is A 2nd Christian Mortgage   
Answering the question of what is a 2nd Christian mortgage can help many homeowners who are strapped for cash and are looking for ways to cover debts with a loan that is not too expensive to handle within the regular monthly budget.

          Christian Student Loans For Bad Credit   
Christian student loans for bad credit are available and accessible for people who are attending college and are in need of financing, but have little to no history with debt or a less than desirable history with debt.

          Comment on Govt, banks row over 99-year leases by Former farmer   
Lets put it simply for our minister. If you rent a property in town, can you borrow against it - NO. If you are a squatter do you have rights - NO. Those whites allegedly being lent millions are actually working for the banks who have devised a way to recover the debt accrued by the chefs. The very same people who stole high production farms thinking farming was easy. They agree with the banks to hand operations over and save face, so the minister cannot claim banks are lending to whites only, the banks are recovering their money. Now if Mr Phovo gets into trouble the banks have no hold over him, he is not going to get a loan. Furthermore if your landlord has stolen that property or not paid for it you have less chance especially if he or she can throw him off at any time.
          Comment on China cancels Zim debts by Dubbozimbo   
Sure the Chinese taxpayers would have something to say about that if they where allowed to, or even allowed to vote 😆😆😆
          Director Debt Services - Equifax - Toronto, ON   
Focus on t ranslat ing analytical insights in to business performance , d riving go-to-market strategies and initiatives with deep domain knowledge....
From Equifax - Thu, 04 May 2017 16:07:34 GMT - View all Toronto, ON jobs
          District Court of New Jersey Holds No Duty Under FDCPA to Warn of Tax Consequences for Debt Settlement   
In a case of first impression in the Third Circuit, Vincent Carieri v. Midland Credit Management, Inc., No. 17-0009 (D.N.J. June 26, 2017), the District Court of New Jersey held that that a debt collector does not have a duty to notify a debtor of...
By: Blank Rome LLP
          Hungary public debt 74.3 pc / GDP at end-Q1   
Budapest, June 30 (MTI) - Hungary's public debt calculated according to Maastricht rules stood at 74.3 percent of gross domestic product at the end of March, up from 74.1 percent at the end of December, according to quarterly data released by the National Bank of Hungary on Friday.
          Collector - Sprechman & Fisher, P.A. - North Miami Beach, FL   
Contact consumers on retail accounts, arrange for debt repayment, establish repayment schedules. High School Diploma Skills....
From Indeed - Thu, 11 May 2017 15:12:34 GMT - View all North Miami Beach, FL jobs
          Payment Plans That Drive Student Success   

While students have a variety of options when it comes to paying for college, making unwise financial decisions can lead to negative consequences for the student as well as the institution. Overborrowing, poor planning and budgeting, and misunderstanding financial aid can create seemingly insurmountable debt that can affect academic performance, push students to leave school before completion, and burden them long after graduation.

Institutions can play a role in overcoming these challenges by providing students with flexible, customized tuition payment plans, as well as guidance in choosing the plan that is the best fit for each student. This approach also benefits the institution by simplifying and centralizing payment processes, saving time and money and freeing up resources that can help to drive institutional and student success.

Attend this web seminar to learn more about the financial challenges that today’s students face, how colleges and universities can help students overcome these challenges, and some key strategies for implementing more flexible payment plans that drive student success at any institution.

Sponsored by: 
Wednesday, June 28, 2017

          Review: Hampstead: A Different Type of Romance   

HampsteadHampstead is a British film directed by Joel Hopkins, starring Diane Keaton and Brendan Gleeson. The film tells the story of Emily Walters (Diane Keaton), a middle-class American widow, struggling with the debt her husband left her, and Donald Horner (Brendan Gleeson), a grumpy, middle-aged Irish man who built an illegal shack on the (expensive) […]

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          “Education Is A Right Not A Privilege”: Yesterday’s March   

Yesterday’s march against student fees was the latest national demonstration to sweep the nation. It came in the wake of a proposed government loan scheme to restructure college fees for students which would result in each student graduating with around €20,000 of debt. It is an age old problem where due to economic circumstances some […]

The post “Education Is A Right Not A Privilege”: Yesterday’s March appeared first on

          Racked up too much debt trying to be smart. Please help!   
Hey, thanks for taking the time to read this. I quit my previous job June 10th. For as far as I could remember I was paid for the previous month. So June you were paid for May and July you were paid for June. It's how it was when I started. I assumed that is how it was always. My girlfriend has been over in NYC for school (we are 20) and I thought I'd be a romantic fool and visit her as I had a month between jobs. This is where I screwed myself over badly. I thought that my old employer would pay me for the month of May in June so I'd get 1300 when I was over there. I also thought that they would pay me for holidays I didn't take. Instead I was paid for June itself (they said the payment times changed when becoming fulltime which I did last year) they also deducted 38hrs of pay as I took over my holiday entitlement but I still had 2 weeks left to take so I still don't understand that one.
          CS Clerk - Diamond Sky Oil Pte. Ltd - Central Business District   
Assist in handling customer’s debt collection by phone. Handle inbound &amp; outbound calls in professional and efficient manner, answer inquiries received by phone...
From Indeed - Thu, 22 Jun 2017 08:16:47 GMT - View all Central Business District jobs
          Credit Management Executive - Singtel - Singapore   
To facilitate customers’ timely payment and minimize debts. Oversee all customers’ accounts (BRN level) under the assigned CFU(s) that is/are managed by the
From SingTel - Fri, 30 Jun 2017 14:21:38 GMT - View all Singapore jobs
          Credit Manager - Safran - Singapore   
Cash and debt collection via telephone/mail/liaison visits. Safran est un groupe international de haute technologie, équipementier de premier rang dans les...
From Safran - Fri, 30 Jun 2017 11:58:33 GMT - View all Singapore jobs
          Credit Manager - Messier-Bugatti-Dowty - Singapore   
Cash and debt collection via telephone/mail/liaison visits. As part of financial policy of risk management and cash recovery management , the credit manager...
From Messier-Bugatti-Dowty - Fri, 30 Jun 2017 08:44:27 GMT - View all Singapore jobs
          Finance Supervisor - Johnson & Johnson Family of Companies - Singapore   
Assess requirement for provision against doubtful debt, provision against rebates and billing adjustment. Reports to directly:....
From Johnson & Johnson Family of Companies - Wed, 28 Jun 2017 16:57:43 GMT - View all Singapore jobs
          Global Markets - Asian Derivatives and Financing Trader – Vice President - Deutsche Bank - Singapore   
This incorporates Debt Trading, including FX, Rates, Credit, Structured Finance and Emerging Markets; Full/Part-Time:....
From Deutsche Bank - Wed, 28 Jun 2017 05:38:40 GMT - View all Singapore jobs
          Legal Counsel - Standard Chartered Bank - Singapore   
Experience in special situations, high yield, distressed assets and debt restructuring. Regular/Temporary:....
From Standard Chartered Bank - Tue, 27 Jun 2017 05:32:34 GMT - View all Singapore jobs
          Senior Director, In-Business Control Operations (APAC) - S&P Global Ratings - Singapore   
Market participants gain independent information to help support the growth of transparent, liquid debt markets worldwide....
From McGraw Hill Financial - Sat, 24 Jun 2017 10:31:53 GMT - View all Singapore jobs
          Sysbase RUN Expert - Groupe Crédit Agricole - Singapore   
Debt Optimisation &amp; Distribution,. Crédit Agricole CIB is the Corporate and Investment Banking arm of the Crédit Agricole Group, the world's n°11 bank measured...
From Groupe Crédit Agricole - Sat, 24 Jun 2017 09:27:07 GMT - View all Singapore jobs
          Senior Director, In-Business Control Operations (APAC) - S&P Global - Singapore   
Market participants gain independent information to help support the growth of transparent, liquid debt markets worldwide....
From S&P Global - Fri, 23 Jun 2017 18:13:21 GMT - View all Singapore jobs
          More Details - Shujog - Singapore   
Strategic initiatives (including further debt and equity raises); IIX Growth Fund....
From Shujog - Fri, 23 Jun 2017 03:28:57 GMT - View all Singapore jobs
          Stocks: Lots of Room to Run   
Stocks have lots of room to run, said Goldman Sachs senior investment strategist Abby Joseph Cohen at the Bloomberg Hedge Fund conference in New York Wednesday morning. Cohen, a 22 year veteran of Goldman Sachs, estimates that even after the 2012 market rally, stocks could rise another 10% to 15% in 2013. While Congress has given the U.S. population reason to worry about taxes and the fiscal cliff, the overall fundamentals of the U.S. economy are healthy, and consumers have money to spend, Cohen said. Moreover, the U.S. has been reducing its debt relative to its growth domestic product during the past few years. She noted that debt was 4% of GDP for the fiscal year that started in October compared to an 11% ratio in 2008. "We are slowly growing our way out of the most extreme version of the debt crisis," she said.

          Two Policy Updates   
The IMF has been reluctant to participate in the aid package to Greece that runs out the middle of next year. It does not believe that Greek debt is sustainable but recently agreed to provide a precautionary line of credit at the end of the program.
          What Questions Might I Be Asked in My Colorado Family Law Hearing (Part 1)   
By:  Jessica A. Bryant For many people in the midst of a divorce or custody case, it may be the first time they have ever been to court.  One looming question many people have is what to expect when attending a family law hearing– a large part of which includes what questions they may be asked when testifying.  This series of blog posts will explore potential questions you may face during a hearing on your Colorado family law case, with segments being presented by subject matter. This Part 1 will focus on what questions may be asked in a hearing on maintenance (spousal support) and/or child support.  Part 2  will focus on what questions may be asked during a hearing on child-related issues (decision-making and/or parenting time).  Part 3 will focus on what questions may be asked during a hearing on issues of property/debt allocation, attorney’s fees, and other miscellaneous questions that may be presented. For a…
          Debt Finance - WilmerHale - Boston, NY   
WilmerHale is currently seeking highly qualified attorneys to join its Debt Finance Practice. The ideal candidate would have two to five years of experience...
From WilmerHale - Mon, 06 Mar 2017 11:14:25 GMT - View all Boston, NY jobs
          Comment on Black Hair, Sharp Scissors And The Totality Of White Power In South Africa by Javari Nama   
Jews control South Africa, not Gentile whites/Europeans. Jewish supremacy has the world enslaved. White supremacy is just a way of hiding the Jew. Yes whites are complicit via Judeo-Christianity but it's all a global ponzi scheme with the central banks, interest and debt. White play along because Jews keep printing fiat currency out of thin air and filling their pockets with it. They do the same thing with people of color as well. We call them sellouts and house negroes.
          My list   
Well after a fair share of research I came up with a list of stocks. I used the Warren Buffett philosophy of buying stocks of companies you like.Here it is:

1.Nike (nke)
Awesome brand, I wear the hockey equipment and the bball shoes. Also I read some articles about how the Olympics could have a large effect on Nike . A very safe bet with a good balance sheet, great dividend and plus Warren Buffett owns some!!!!!

2.Jamba (jmba)

A lesser known name especially in Canada but on a trip to New York this past summer I discovered it. It was very hot, so we decided to try a smoothie from Jamba Juice, it was amazing so a couple weeks ago ,I looked it up on google finance and did some research. The 60 % drop since the summer scared me a bit , but the potential is huge. They signed a deal with Nestle for their drinks to be sold bottled. And they are expanding to new areas with new stores at an amazing pace , the stock sells at under 50% of it's book value per share , very low p/e 8, no debt and double digit profit. margin

3. Johnson + Johnson (jnj)

Another of Warren Buffett's picks, good long term prospects and a good balance sheet.
Large dividend great with a history of raising it.Great long term pick.

4.General Electric (ge)

Very safe bet and most of its profits aren't from the US so protected from the imminent recession. Large dividends . The world will always need appliances!!!!

For now i'm still researching but some secondary choices are the following:

canadian tire
shoppers drug mart
bank of nova scotia
Procter + Gamble

Any ideas , suggestions or whatever

email the teen dollar @
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          Comment on CNN Proven Very Fake News, Dollar Tanking, Yellowstone Could Blow by John   
Jerry, I feel that the sdr is close upon us and the petrodollar is about to go away. IMHO - I think that oil prices are low because there is too much supply in a world facing economic contraction/deflation. I also feel that the oil fields of Saudi Arabia are are in decline. Don't you find it odd that shale oil is ramping up in a declining market/price for oil - shale oil is very expensive to bring to market and if memory serves me correct were a major source of junk bonds in the recent past. A world in deflationary collapse coupled with declining oil prices and failing oil fields in the ME can't be good for the petrodollar - i.e. declining demand for us dollars via energy transactions. Was shale oil - at any price to produce - a last gasp attempt to support the petrodollar? In other words, are we flooding the world with oil in an attempt to create demand to bolster the dollar? We will lose the derivative game with gold as a means to support the dollar when the physical market goes into delivery default - when is the main question. I feel that the debt created in the world is so huge that not even oil at 20 dollars will fix the problem - of course how much longer can Saudi Arabia survive if oil is not at 100 dollars? IMHO - debt is going to have to be destroyed to get us out of the current situation as we can no longer roll this over in an environment where rates are going to rise. We are very close to some sort of reset.
          Let Freedom Ring!   
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          Could Japan Leapfrog America in Employee Well-Being?    

Could Japan Leapfrog America in Employee Well-Being?

Paul Terry, CEO, Heath Enhancement Research Organization
Paul Terry, CEO, Health Enhancement Research Organization

There are two transformations occurring in workplace based health promotion in America. The first is the movement from wellness to “well-being” and, related to this, a shift from a focus on a return on investment (ROI) to the use of value on investment (VOI) measures. These VOI measures are well documented and publicly available, but are we thinking broadly enough?

This month, my organization, the Health Enhancement Research Organization (HERO) hosted a contingent from Tokyo University and the Mitsubishi Research Institute. HERO is a not-for-profit research organization that has collaborated with Mercer to create a national employee health and well-being scorecard about which our Japanese guests were eager to learn. 

Nearly all of the hundreds of American companies and health care provider systems that use the HERO Scorecard do so to benchmark their efforts against other organizations. The Scorecard is a planning and assessment tool designed to support HERO’s vision of improving the quality of employee health promotion programs.

Why were our Japanese visitors interested? They began their presentation by discussing the dynamic between the Tokyo Stock Exchange and Japan’s Ministry of Economy, Trade and Industry (METI). The two transformations that are inexorably in motion in Japan are, first, an alarmingly large exodus of elders from their workforce and, second, related realization that their future workforce will have ample choices about where to work. Leaders of the stock exchange and METI believe that companies who focus on the health of their employees will have a competitive advantage in attracting and retaining investors, not just employees. For the Japanese, this is not a subtle way to hedge their bets on future investments. The matter is quite literally “black versus white.”  Let me explain.

Black and White Thinking about Employee Wellness in Japan

Kaizen is the Japanese term for continuous improvement, and many large organizations study and practice these quality improvement principles. With this in mind, it wasn’t too surprising to note our visitors were most engaged when they were explaining “black and white companies.”

The talented university students that Japanese businesses covet refer to “white companies” as those who care about their employees and promise a high-quality work life. Meanwhile, “black companies” are those that burn out their employees and can’t produce well-being measures that matter to these highly trained prospects. To make matters worse, black companies are increasingly being outed with detailed exposes about horrendous personnel practices.

What does this have to do with HERO’s Scorecard? Japanese businesses prize data, so our visit with them started and ended with sharing metrics about Scorecard-abetted health and well-being in corporate America. Such metrics could serve as a basis for a company health and well-being accreditation system in Japan that lets stock pickers and future workers alike separate white companies from black companies.

Employee Health, Shareholder Value and the National Debt

Collecting such data may have a quality improvement subtext, but it is primarily about tackling a national economic problem head on. Our guests described the growing examples from Japan’s Ministry of Health where “mandatory employee wellness” regulations are imposed.

This Japanese orientation to wellness may represent a leapfrog strategy for the third largest economy in the world, but it would take a massive leap. To be sure, mandatory wellness won’t work in America. But if Japan makes big strides in wellness because of a truly broader value proposition it won’t be because the United States lacks global thinkers.

One leader who boldly attaches the work of wellness to GNP and global competitiveness is Michael O’Donnell, editor in chief of The American Journal of Health Promotion, where I am an editor.  O’Donnell has written and presented often on the drag that unhealthy lifestyles and companies being reticent about health promotion have on our economy. O’Donnell believes nothing less than the solvency of America is at stake.

Ray Fabius, president of HealthNEXT, has published a convincing analysis of the connection between companies that offer employee wellness programs and their stock market performance.

When it comes to the role of health improvement in global competitiveness, leadership from health care organizations is vital to a vision where all workplaces positively influence the health of employees, families and communities. An initiative called “Healthy Workplaces, Healthy Communities” has been created to drive health care and employer engagement in building a culture of health in America. There are many impressive stories to be told about what’s working when health care organizations and others businesses and stakeholders team up to make their communities attractive places to live and work. Let’s urge others to play leapfrog and then, let’s be sure we’re standing tall. 

Paul E. Terry, Ph.D., can be reached at Follow him on Twitter: @pauleterry.

          Horny Olive Glass pays her tight pussy to Charles for her debt   

Horny Olive Glass pays her tight pussy to Charles for her debt

          Maybe Peter Wasn't Lying   
He’s been described as an impetuous coward, not nearly as brave as he wanted to be.  But then, how many of us are as brave as we want to be?

He’s also been described as a miserable failure who lied under pressure.  But was he?  And did he lie?

After his bold boast to Jesus that he would never deny Jesus in any circumstance, he denied Him three times before the rooster crowed the next morning, even claiming, “I do not know the man!”[1]  But was Peter lying?  Maybe not.

How many times have I thought that I knew someone, only to find out – sometimes in bitter disappointment – that I did not know him or her?

Peter clearly thoughtthat He knew Jesus.  He watched Jesus heal countless numbers of sick people and even raise the dead!  He saw Jesus walk on water and trusted Him enough to accept His invitation to walk on water with Him.[2] He understood enough about Jesus to recognize that Jesus was indeed “the Christ, the Son of the living God.”[3]

But there were telltale signs that Peter didn’t really know who Jesus was.  Perhaps nothing revealed that fact as much as when Peter actually rebuked Jesus for warning His disciples that He would “suffer many things from the elders and chief priests and scribes, and be killed.”  Peter’s response: I am never going to let that happen![4]  Peter thoughtHe knew Jesus – but He didn’t.

On the night Jesus was betrayed and arrested, when Judas arrived with a crowd carrying swords and clubs, Peter drew his sword to defend Jesus from arrest.  He was prepared to begin the battle to enthrone Jesus as the Messiah right then and there.  Thankfully, he wasn’t much of a swordsman – he aimed for Malchus’ head but only managed to cut off his ear.[5]  Jesus immediately told Peter to put his sword away, explaining to Peter that if He was going to fight He could have commanded twelve legions of angels to come to His immediate defense.  The shock to Peter – and it was a shock – was that Jesus was not going to fight against His arrest, or His trial, or His flogging, or His crucifixion or His death.

Peter recognized that Jesus was the Christ, the promised, and long-awaited Messiah.  He was so convinced that he had walked away from his livelihood, his reputation, and his “security” and had followed Jesus non-stop for the past three years.  And he had come to love this Man.  And trust Him.  And believe in Him.  But He never understood one ultimately critical component of Jesus’ identity.  Jesus was the Christ – but He came to be the crucified Christ, the suffering Saviour who would give His life for Peter’s sins – and mine.  In spite of repeated warnings, Peter didn’t know that.  So when He exclaimed, “I don’t know the man,” he wasn’t lying.

Jesus knew that Peter didn’t know that.  That’s why He predicted Peter’s denial.  Peter was about to go into confused shock, because it was going to be vividly and violently revealed to him that he had not fully understood who Jesus was.

By the way, I don’t see any cowardice in Peter here.  Of all the disciples who had pledged that they would die for Jesus,[6]only Peter and John are recorded as having followed Jesus through His trials before the scribes, elders and Romans.  Yes, he denied knowing Jesus.  But at that moment, Peter didn’t know Him.  Jesus was not who Peter thought He was.  As Michael Wilkins notes, Peter was not alone:

…throughout his life’s mission, Jesus disappointed many of his own people, because his was a revolution of the heart, not a revolution of swords or chariots.[7]

After the cock crowed for the third time, Peter “went out and wept bitterly.”[8]  His weeping may have been in part from sorrow that he had failed his Friend and failed his promise.  But his bitter weeping could have been in significant part because Jesus was not the Messiah he was expecting. Or the Messiah he had given his life to follow.  The Man he followed, trusted and loved was not who Peter thought He was.This Messiah was going to die!  This Christ was going to be crucified! That kind of shocking disappointment has driven many men and women to bitter weeping.

I have wept frequently – sometimes bitterly – over the past 18 months, and for the same reasons Peter wept.  I have failed to keep some promises I made to Jesus.  I don’t think I have verbally denied Jesus, but I have denied Him practically.  And for the same reason Peter did: because I did not fully recognize (believe) who Jesus is – in spite of repeated explanations (just like Peter had).

For instance, in Matthew 6:33 Jesus said, “But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you.”  What things?  Food, drink, clothing…all these things.  How much of my life and time have I spent trying to provide all these things?  While – all the time – Jesus was saying, “Just focus on seeking Me and My Kingdom and My righteousness and I will add all this stuff to your life.”  My too frequent unwillingness to believe that He would do that and let Him do it – while not a verbal denial – was a denial just the same; a practical, functional denial of who Jesus really is.

I fear that too many of us may have “accepted Jesus as our personal Saviour” as a form of fire insurance, a “guarantee” that when we die, we will not go to hell.  But as Dallas Willard explains,

The appropriate question is, ‘If you don’t die tonight what are you going to do tomorrow?’ and the answer should be, ‘I’m going to trust Jesus with all of my life, with everything, and that will allow you to live in the Kingdom of God.’ Now, if you do die tonight you may go to Heaven, but you see most people are not going to die tonight. They, like the rest of us, have to face life tomorrow and the day after and the day after.

“The big question is, ‘Are you going to live life on your own tomorrow and the day after?’ and if you do then you’re not trusting Jesus.[9]

And “not trusting Jesus” is, in essence, a practical, functional denial of Him and Who He is. Willard affirmed this fact in his remarkable book, The Divine Conspiracy:

The sensed irrelevance of what God is doing to what makes up our lives is the foundational flaw in the existence of multitudes of professing Christians today.  They have been led to believe that God, for some unfathomable reason, just thinks it appropriate to transfer credit from Christ’s merit account to ours, and to wipe out our sin debt, upon inspecting our mind and finding that we believe a particular theory of the atonement to be true – even if we trust everything but God in all other matters that concern us.

It is left unexplained how it is possible that one can rely on Christ for the next life without doing so for this one, trust him for one’s eternal destiny without trusting him for “the things that relate to Christian life.”  Is this really possible?  Surely it is not!  Not within one life (emphasis mine).[10]

In recent days, Jesus has confronted me with my lack of love for Him and for others.  In one of my recent sojourns into solitude and silence, the Lord God asked me if I loved Him.  (Something else I have in common with Peter.[11])  My response was, “Of course I love You!”  His response was, “Why aren’t you being obedient?”  The Holy Spirit spoke loudly and clearly from John 15: “As the Father has loved me, so have I loved you. Abide in my love. If you keep my commandments, you will abide in my love, just as I have kept my Father's commandments and abide in his love.”

There was more: “This is my commandment, that you love one another as I have loved you. Greater love has no one than this, that someone lay down his life for his friends. You are my friends if you do what I command you.”

My love for Jesus can be accurately and easily measured by my obedience to Him.  And my obedience (or lack of it) is a perfect reflection of how much I trust Him (or not).  The biggest issue for me was loving other people.  He’s working on that in me.  And He’s gracing me to love some folks I honestly believed only a few months ago I could never love.  But my unwillingness to love them was my practical, functional denial of Jesus.

There is so much morefor Him to do in me – so much more of me that needs to be changed and transformed into His likeness.  But I am encouraged because Jesus is doing the same thing for me that He did for Peter: “But I have prayed for you that your faith may not fail. And when you have turned again, strengthen your brothers.”[12]  Jesus prayed for Peter.  And Heis praying for me!  As I discover more of Who He really is, He is creating in me an overwhelming hunger for His transformative power to remove from me any trace of denial, especially the silent, invisible kind that just simply doesn’t trust and obey, even in – or especially in – the most mundane issues of everyday life.

[1]Matthew 26
[2]Matthew 14
[3]Matthew 16:16
[4]Matthew 16
[5]Matthew 26; John 18
[6]Matthew 26:35
[7]Michael J. Wilkins, Matthew: The NIV Application Commentary, p. 933.
[8]Matthew 26:75
[10]Dallas Willard, The Divine Conspiracy, p. 49.
[11]John 21
[12]Luke 22:32

          The World Is Now $217 Trillion In Debt And The Global Elite Like It That Way   
By Michael Snyder The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the...
          7/2/2017: Front Page: Germany: IMF in Greek bailout for ‘last time’   
The International Monetary Fund, a key creditor in Greece’s bailout, will not participate in any further rescues of the debtwracked country, Germany’s finance minister told a Greek newspaper yesterday. “We have all acknowledged [Eurozone and IMF] that...
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          Debt Collector - Credit Management Company - Pittsburgh, PA   
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          Conant: Cutting federal debt requires hard decisions   

My previous column in the Savannah Morning News discussed the rapidly increasing federal debt and its disastrous impact on our country’s future. Many readers agreed with the message, and wondered why the country is not working towards effective solutions.

Read more


          Collector - Sprechman & Fisher, P.A. - North Miami Beach, FL   
Contact consumers on retail accounts, arrange for debt repayment, establish repayment schedules. High School Diploma Skills....
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          Customer Service Representative - Regional Finance - Charleston, SC   
Minimize delinquent debt through appropriate account management activities. Grow account volume through good judgment and effective customer solicitations in...
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          Depression Proof Investing   

Depression Proof Investing

With the current decline in home prices some markets are ripe for investment. One such market with tremendous benefits is real estate investing in Austin, Texas. That’s right – real estate investors that are purchasing both commercial and residential properties in Austin are really seeing some huge profits in their investments. They are capitalizing on a very stable market – one that seems to be growing while other areas are in a downturn. So, if you’re considering investing in real estate and you have been looking for areas that you can invest, you should consider Austin Texas. In this article, we will discuss the benefits of investing in Austin Texas. By doing this, we hope that you will have a better idea of the market and can capitalize on this opportunity like many of the other real estate investors are doing. Let’s begin.

First of all, Austin has a wide array of positive elements working in its favor for the real estate investor. These included affordable houses that aren’t at risk to volatile price swings, a growing and vibrant economy, and a large student population. As an investor wild price swings can wipe out your investment and put you in debt. Austin real estate has the big benefit of experiencing slow and steady appreciation. Therefore, this makes it a prime investment for the serious real estate investor.

Second, the recent downturn hasn’t hit Austin to nearly the extent of other markets and so you have great stability in your investment. The population of Austin is growing and so this progression of prices will continue. The growing and vibrant economy presents another advantage as sustainable housing price appreciation can only be achieved with a growing and well-employed population. In fact, many researchers believe that even if the market continues to go down that the properties in Austin will still remain stable.

Third, Austin is a high tech center that is growing in influence and so this promises to provide strong support for housing prices benefiting those investing in Austin real estate. Therefore, the housing market is ripe for the taking. In addition, savvy investors who also purchase commercial real estate and then either rent it to business associates will also find themselves with a worthwhile investment. On the same token, by purchasing properties that are close to these centers, you will most likely receive some hot properties that are ripe for renting.

Finally, as a real estate investor you want a strong rental base so as to provide steady income from your property between the time your purchase the property and the time you sell it. Austin has a great renter population in the form of students thanks to the presence of the University of Texas at Austin.

In conclusion, if you’re a serious or a beginning real estate investor, you should seriously consider investing in real estate in Austin, Texas. Not only is this a great time to invest but you will see some great profits from your investment.

For more information on an austin investment property visit:
          Moody's maintains Region's Aaa (Triple A) credit rating   

Waterloo Region – Moody’s Investors Service has rated the Region of Waterloo with the highest credit rating possible for the 17th year in a row. The Region’s Aaa rating reflects prudent financial management and long-term planning as well as a proven track record of positive operating outcomes.

The top credit rating was awarded based on the following strengths: a diverse and wealthy local economy; consistent positive operating results; strong management practices; and a mature and supportive institutional framework.

“Maintaining this rating for so long is a reflection of the Region’s consistently sound financial management and forward-looking budgets,” said Ken Seiling, Regional Chair. “The Region continues to manage well while investing in infrastructure and the future to meet the needs of citizens.”


Moody’s rated the Region of Waterloo at the high end of Canadian municipalities. According to the report “the Region consistently posts strong operating results, and the rating reflects their expectation of continued positive fiscal outcomes, robust economic growth and strong debt affordability.” Moody’s categorized the Region’s outlook as “stable.”

“The Region continues to focus efforts on ensuring long term financial sustainability by establishing prudent fiscal policies, improving reserve balances and reducing our reliance on long term borrowing for infrastructure renewal,” said Craig Dyer, Chief Financial Officer for the Region.

Moody’s Investors Service has been providing Canada’s investors and issuers with credit ratings since 1901. Today, Moody’s rates more than 300 Canadian corporate, structured and public finance issuers.



For more information please contact:

Bryan Stortz, Director of Corporate Communications, 519-575-4408 or

Craig Dyer, Commissioner of Corporate Services and Chief Financial Officer, 519-575-4545 or

          Diana Clement: To