WARNING: GOP SELLOUT ON TAXES?
Posted by admin / Under European Waterways
By Wednesday, November 23rd, the Deficit Reduction Panel has to report on ways to cut the federal deficit by at least $1.2 trillion over ten years. Democrats refuse to support spending cuts unless Republicans agree to tax increases. And there is an increasing chance that the Republican members of the Commission – or at least some of them – will cave in to the Democratic demands. When Obama took office and embarked on his spending spree, he calculated that by raising spending and borrowing the money, he could force Republicans to raise taxes. Higher taxes on the rich is not...
Published on Monday 6th of February 2012 04:07:56 AM
EU: Water does NOT hydrate
Posted by admin / Under European Waterways
EU officials concluded that, following a three-year investigation, there was no evidence to prove the previously undisputed fact. Producers of bottled water are now forbidden by law from making the claim and will face a two-year jail sentence if they defy the edict, which comes into force in the UK next month. Last night, critics claimed the EU was at odds with both science and common sense. Conservative MEP Roger Helmer said: “This is stupidity writ large. “The euro is burning, the EU is falling apart and yet here they are: highly-paid, highly-pensioned officials worrying about the obvious qualities of...
Published on Monday 6th of February 2012 04:07:56 AM
European stocks plunge on debt concerns
Posted by admin / Under European Waterways
NEW YORK (CNNMoney) -- European stocks fell sharply on Monday on renewed fears of a eurozone debt crisis and concerns about the global economy. London's FTSE 100 (UKX) index finished its trading session down 3.2%, while France's CAC 40 (CAC40) dropped 4%. In Germany, the DAX (DAX) shed 5.3%. The move followed more moderate drops in Asia's stock markets. Japan's Nikkei 225 (N225) index finished Monday trading down 1.9%, while Hong Kong's Hang Seng (HSI) index shed 3% for the day. "Europe's faltering management of its crisis is starting to blur the line between a banking crisis and a euro...
Published on Monday 6th of February 2012 04:07:56 AM
Never Fight a Land War in Asia
Posted by admin / Under European Waterways
U.S. Secretary of Defense Robert Gates, speaking at West Point, said last week that “Any future defense secretary who advises the president to again send a big American land army into Asia or into the Middle East or Africa should have his head examined.” In saying this, Gates was repeating a dictum laid down by Douglas MacArthur after the Korean War, who urged the United States to avoid land wars in Asia. Given that the United States has fought four major land wars in Asia since World War II — Korea, Vietnam, Afghanistan and Iraq — none of which had...
Published on Monday 6th of February 2012 04:07:56 AM
Wealthy Europeans back Warren Buffett's call for higher taxes on the rich
Posted by admin / Under European Waterways
Wealthy people across Europe are following in billionaire Warren Buffett's footsteps by calling for higher taxes on the rich. In Germany, a group of 50 people, called "The Wealthy for a Capital Levy," have urged Chancellor Angela Merkel to make people like them pay more in taxes and "stop the gap between rich and poor getting even bigger," The Guardian newspaper reported Tuesday. In France, 16 of the country's wealthiest people, including billionaire L'Oreal heiress Lilliane Bettencourt and oil company Total's chief executive Christophe de Margerie signed a petition calling for wealthy people to make a "special contribution" to the...
Published on Monday 6th of February 2012 04:07:56 AM
Less educated Americans turning their backs on religion
Posted by admin / Under European Waterways
LAS VEGAS — While religious service attendance has decreased for all white Americans since the early 1970s, the rate of decline has been more than twice as high for those without college degrees compared to those who graduated from college, according to new research to be presented at the 106th Annual Meeting of the American Sociological Association. "Our study suggests that the less educated are dropping out of the American religious sector, similarly to the way in which they have dropped out of the American labor market," said lead researcher W. Bradford Wilcox, a professor of sociology at the University...
Published on Monday 6th of February 2012 04:07:56 AM
Nouriel Roubini warns of Global Recession Risk
Posted by admin / Under European Waterways
Roubini Warns of Global Recession Risk Economist Nouriel Roubini says the risk of a global recession is greater than 50 percent, and the next two to three months will reveal the economy's direction. In an interview with WSJ's Simon Constable, Roubini also says he's putting his money in cash. "This is not the time to be in risky assets," he says.
Published on Monday 6th of February 2012 04:07:56 AM
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