The average cost of an undergraduate education at an American four-year institution is a little under $100,000. Back in the day, when a movie was fifteen cents and you could survive off minimum wage, there was a joke among those paying their way through school. It went a little something like: When we have kids, the way the world’s going now, it’ll be a hundred grand just to get them through school.

Surprise, Mom and Dad! That’s just for a state school!

It is understandable that so many get sticker shock, but the ever-rising cost of a person’s right to education gets even more dastardly when you look forward.

Graduate school? Many ask, eyes wide. How could we pay for that when a Bachelors cost an arm and a credit score?

The cost of graduate school can be equal to or greater than undergrad, but there are a few magical aspects that can reduce costs down to zero, and even put cash back in your pocket.

Become a TA, or teacher’s assistant. Many Master’s programs offer applicants the opportunity to be a part of assistant programs at the University. For the price of being a department lackey, many schools will cover tuition, housing, and give you a free meal plan. Some will even slip you an infinitesimal paycheck to cover your Starbucks tab. When researching programs, be sure to check for this or options like it. Teaching intro or 100 level classes may seem frightening or demeaning, but it’s better than living out of your parent’s garage for the next five years.

Scholarships. Just like those that exist for undergrad, graduate programs and outside groups offer free money to those looking to better the world. If you have a decent GPA, participate in community service, or have the drive to write a few heart wrenching 500-word essays, then this is the route for you. Search graduate scholarships and you will come up with millions of results. Some are career specific, others are only offered through certain schools, but many are more open. Look through and find those that apply to you, even if it’s only for $400. There’s no limit on how many scholarships one person can have, and every cent counts. A great place to start is scholarships.com or collegeboard.org

Then there are grants. Similar to scholarships, they are free money given to winning applicants. The difference is that they are based on financial need rather than deeds or academic success. Basically, they are everything a financially struggling college student has been praying for. Because they are gifts, grants do not need to be repaid and, if given for a specific research aspect, are not dependent on the outcome of the research. The only way grants can be lost is if your financial status changes, in which case the grant may not be needed anyway.

If you’re already in the workforce and looking to further your interests, knock on your boss’ door and see if they will foot the bill. No kidding, many companies aren’t looking to hire new employees who already have the education, that would mean higher salaries. Instead, existing employees are often sent to graduate school on the company dime. This arrangement can come with conditions; with the company choosing your degree, your school, and possibly contracting you to work for a specific number of years, but hey! It’s free!

What all this boils down to is that the fear of an education’s cost is founded, but it should not be debilitating. Control your breathing and tap into the nearest search engine. Look around at all the programs near you, and don’t be afraid to put yourself out there. Talk to professors and department heads, talk to your boss, and toss some pamphlets at your parents. The cost of an education is going up, but you have the ability to overcome that dollar-shaped obstacle.

Image Courtesy : Fordhamalumni

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Let’s talk about James Buchanan. No, not the last American president born in the 18th century. About James McGill Buchanan. Why him? He was a Nobel Prize laureate and American economist who got recognized for his study on public choice theory, and who just recently passed away (January 9, 2013).

So why is his work still relevant today? Mainly because Buchanan initiated research on how non-economic forces and politicians’ personal interests affect economic policy.

His research includes extensive writings on macroeconomics, constitutional economics, the public debt, public finance and voting – all that is very important especially now, at the time of global economic crisis.

What is even more important, looking at the entire government “struggle against the economy,” is that in his studies Buchanan rejects “any organic concept of the state as superior in wisdom, to the citizens of this state.” This is where the interesting part begins.

Thanks to his philosophical position the basis of constitutional economics can be formed. According to Buchanan, every constitution is created for the time period of at least several generations and therefore, it should be able to balance interests of the society, state and each individual.

Unfortunately we don’t see this happening all around us. There are, of course, exclusions, but in whole we see just the opposite. The rich are getting richer or at least are well off anyways. And middle class is getting the full blow of the recession.

It is interesting that Buchanan’s ideas were always seen as a challenge to John Maynard Keynes. And Keynes is recognized to be one of the most influential economists of the last century and founder of modern macroeconomics. He was among those who advocated the use of monetary and fiscal measures to reduce the negative effects of economic recessions.

Once Keynes’s ideas became widespread, they were adopted by leading economies. Even though the outburst of the global financial crisis in 2007 caused degradation in Keynesian thought, the principals of Keynesian economics are still used to give response to the crisis. Unfortunately, neither the administration of George W. Bush or Barack Obama developed new approaches.

In his works Buchanan poses a question, “What do individuals seek in politics if they do not seek to maximize their own expected net wealth?” Which seems to make perfect sense, doesn’t it?

The main point is that modern politics can be adjusted only through the change to the constitution. In this way individuals will be able to act according to the long-term interest of the community and not their own short-term interests.

James M. Buchanan says, “Until and unless we begin to take the long-term perspective in our private and in our public capacities, including the adoption of new and binding constitutional constraints on the fiscal and monetary powers of government, we are doomed to remain mired in the muck of modern politics.”

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The relationship between the European Union and Ukraine was for a long period of time mostly shaped by the European Neighborhood Policy. Between 2009 and 2011, an Association agreement was negotiated. This agreement aims at economic integration, including a deep free trade area, but it will not be ratified until Ukraine deals with concerns over a “stark deterioration of democracy.”

At the same time, on the Eastern front, Kyiv is also having consultations on the subject of the removal of trade barriers. Ukraine is taking a closer look at the possible benefits of Kyiv joining a Russia-led Customs Union (CU). However, since the establishment of the CU, the share of trade turnover of all participating countries has not changed. Figures remain unchanged from 2005 claims a study conducted for 3.2 million rubles that was ordered by the Ministry of Economic Development of Russia. Moreover, according to provided data, the dynamics of the main indicators of the CU and Ukraine in 2009-2011 show that the integration effect is maximal for Russia and minimal for the Ukraine.

Nevertheless, according to the Russian Ministry, the technical regulation system of the Customs Union could improve trade not only with the member states of the CU, but also greatly simplify harmonization with the European Union. This is a very controversial statement, especially taking into account multiple assertions by western diplomats, that it would not be possible.

One of the critics is the current Chairman of the European Parliament Committee on Foreign Affairs, Elmar Brok, who stressed that Ukraine should decide whether to join the Customs Union or the European Union. “The position of European institutions is clear. Ukraine cannot have a free trade zone with the Customs Union and the EU simultaneously,” he said.

The European Union thinks that Ukraine is just bluffing about their intentions of joining the CU. A full membership in the union would require a change to the Constitution, which is impossible without the support of the opposition. So the “bluffing” part may indeed be true, but only to a certain extent.

Unfortunately, the Ukrainian government lacks the strategic view of the country’s development that has been clearly shown many times by now. Even though Yanukovych, the President of Ukraine, is reluctant to join the Customs Union and make Ukraine a Russian vassal once more, the unfavorable economic situation and increasing Moscow pressure may tip the scales. Which path to take has yet to be decided, but it is equally true for the European Union.

Image Courtesy : World Economic Forum

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As the fiscal cliff approaches, the clock starts to tick louder. For those who have yet to understand: the fiscal cliff is a soup of expiring tax cuts scheduled for the end of the year.

The core of the fiscal cliff consists mainly of the cuts passed from 2001 to 2003 under then President George W. Bush. There are also across-the-board cuts: the expiration of measures delaying the Medicare Sustainable Growth Rate, and the expiration of the 2 percent Social Security payroll tax cut, among others.

If the federal government allows this to happen, the effect on a still-weak economy may be drastic, perhaps even sending it back into a recession. On the other hand the fiscal cliff can significantly decrease the federal budget deficit. This brings us to the question of possible positive effects for the economy in the long run.

According to some surveys, about two-thirds of Americans do support reduction of the federal budget deficit, even if it means cutting Medicare and Social Security. Aside from this data, it is quite hard to believe that the majority will eagerly give away their money for seemingly no good reason. It is better to not take into consideration some quavering long-term improvement projections for the common citizen who is not keen on economic analysis.

Unfortunately according to the experts, if Obama and Congress do not avert these legislative changes, America may “fall over the cliff.” It will also mean that taxes will rise the most in the last 60 years or so. The Tax Policy Center reports that middle-income families will pay $2,000 or more in taxes in 2013.

In addition to this, the Congressional Budget Office predicts that about 3.4 million people will lose their jobs. The Unemployment rate of 7.9 percent in October 2012 represents a significant improvement over the October 2009 rate of 10 percent. According to research millions of jobs would be lost after the fiscal cliff. This could result in an unemployment rate of up to 9.1 percent or more.

Some say there is a bright side. The cliff would be a long-term positive, they say. Everybody understands that at some point the U.S. government should deal with the deficit. But in what way and when are the questions. The policy of kicking the can down the road may no longer be effective or will at least become so in the near future. So will the short-term disaster be worth the possible benefits? The truth is, it’s hard to tell.

The Congressional Budget Office estimates that by 2022, the budget deficit would fall to $200 billion from $1.1 trillion now, in the fiscal cliff case scenario. But that is a pretty long shot and in order to get there, the economy would have to face certain financial difficulties.

The bottom line is the cliff will certainly result in the tax rate increases. But the problem is that increasing taxes won’t necessarily increase total tax revenue. The only right way to increase tax revenue is for the economy to recover.

So the bottom line may be that the fiscal cliff doesn’t matter that much any more. The U.S. may have passed the point of no return long ago.  For everyone with average income there is only one thing that can be suggested. Use everybody’s old favorite: cash, not credit. Congress will eventually have to learn this lesson also and finally cut back on a wasteful spending.

If you want to see what your tax life will look after the cliff you can try the links for experienced tax payers or those who want to get a simple answer.

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Last week’s decree made by Egypt’s president Mohamed Morsi brought Egyptians back to the streets. The decree, that has six articles, states that declarations, laws and decrees, made by Morsi during his presidency, cannot be appealed, suspended nor cancelled, until a constitution is drafted and the parliament elected. Neither can any judicial body annul them.

Following the announcement of the new decree the Egyptians have been extremely divided: People pro-Morsi agree that the decision he made was the only way to get rid of the remaining parts of the old Mubarak regime, while those against Morsi’s latest venture predicts another dictatorship, with the Muslim Brotherhood setting the agenda, if the new president gets away with implementing this new decree. Adding to this the constitution was put into vote Thursday, 29 November 2012 in spite of the fact that a significant number of non-Islamic representatives had left the constituent assembly after been called back to rethink their decision Wednesday evening, meaning that no Leftists, Liberals or Christians were left to vote.

Judging from what can be witnessed in Cairo these days – with a vast number of Egyptians occupying Tahrir Square, protesting against the current political actions by the president and the Muslim Brotherhood, who is seen as his close ally – a second revolution could be imminent. However, looking back at the economical situation of Egypt the last two years, following the 25 January revolution that had former president Hosni Mubarak step down, it is inevitable to ask: Can Egypt afford a second revolution?

It cannot be denied that Egypt’s economy has been struggling, especially since the revolution, which among other things has led to an IMF loan. According to the Egyptian newspaper, Al Ahram Online’s English version, the Central Agency for Public Mobilization and Statistics (CAPMAS) reports that the poverty rate is rising, thus has increased from 21.6 % in year 2008/2009 to 25.5 % in year 2010/2011: With 69% of the population in rural areas living under the poverty line, of which Assiut Governorate in Upper Egypt has the highest poverty rate nationwide. The difference in the amount of money, annually spend on expenses between the poorest part of the population and the richest, is 17.500 LE ($2864).

On an individual level the aftermath of the revolution has resulted in income lost, as one woman from the Shubra suburb in Cairo says in a research interview conducted in relation to my MA thesis: “In the beginning I was with the revolution [the 25 January revolution] and I was very happy because of it, but really, after some time my husband’s business was very bad, because he is related to tourism, so we sold everything; I sold my gold, we sold our car, the business, really, we faced big problems, so I hated it, really, in the end of it.”

And she is not alone. Several of the 45 people interviewed for the research express that they have been affected economically one way or the other as a consequence of the revolution.

Thus regardless of the sympathy one feel with the Egyptians right now camping in the sit-in at Tahrir square, keeping up their fight for democracy, it is hard not to sit back with the question: Can Egypt afford a second revolution? At the same time it must be remembered that during the January 25 revolution the demands were: ‘Bread, Freedom and Social Justice’, which nonetheless implies that the uprising witnessed was not just an opposition to the Mubarak regime, but a resistance towards the entire system applied by Mubarak and his regime. From such a perspective the current reaction is not surprising, since yet the people neither got their bread, freedom nor social Justice. On the other hand, the risk of another two years in transition, with sceptical tourists agencies, worried investors and migrating youth is unendurable and leaves Egypt’s future with very challenged future prospects.

Planned demonstrations among liberals and leftists will Saturday take place in Tahrir, which was initially intended opposed by president Morsi, the Muslim Brotherhood and their supporters with a million-man counterdemonstration, however Thursday night it has been announced that the Muslim Brotherhood and their allies will move their demonstration to a different location to “protect Egypt’s national interests against division and conflict”.

The Egyptians are anticipated to return to the streets in big numbers the coming days, continuing their battle for bread, freedom and social justice, hopefully it will not end with a second revolution.

Image Courtesy : James A Dawson / Shutterstock.com

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Barack Obama won re-election, and America lost its future. Many would call that statement a sign of sour grapes the words of a poor loser. Yet, it is neither. It is the simple conclusion for anyone who has a calculator and has done the math. The national debt for the United States is 16 trillion dollars. That’s 101% of the Gross National Product. It would be like someone making $50,000 a year owing $5,000,000 dollars. Now that Obama has been reelected, the country is projected to reach 20 trillion in debt by the time he is out of office. The only thing that could change that path is if the President were willing to cut the spending spree, something he has shown he does not want to do.

Our debt is unsustainable at its current level. Now that we are guaranteed to have Obamacare written in stone and the two to three trillion dollars it will cost, by 2016 the country will be on a path that cannot be altered: insolvency. It is simple math. It has nothing to do with being a Republican or Democrat. Issues of racism or classicism makes no difference. It is zero’s and one’s. The income either adds up or it does not.

Greece is learning this lesson now. They spent too much on social programs, guaranteed state and country wide union wages, infrastructure built to provide “jobs” and higher taxes. The net result is a country that went running, hat in hand to the European countries for money to keep their country alive. The loans came with strings attached, as most loans do, and the string was a total restructuring of Greece’s spending. The result has been civil unrest, labor strikes, and riots. If you ask the rioters why they are doing these things, they will tell you because of the cuts to wages, and social programs. The very things that made them have to go begging for loans to stay afloat. It is like a person who buys the exotic sports car, and then gets mad at the person who comes to repossess the car, because they cannot make the car payment.

America is on that path, and has been for quite some time. Like the minor tremors that portent a large earthquake, little signs have been appearing: polls that show most people wanting those that make more than they to pay more in taxes, backlashes against any plan to slow down the spending and cost of medicare, men and women alike defending the idea that others have an obligation to pay for the birth control of women, support for fiscally dubious high speed rail projects across the country. Little by little, inch by inch, the mindset of the government spending the viewpoint of entitled thinking has been creeping into the psyche of the American populace.

Tonight’s election was the seismic event that was building. It signals that America has turned toward a social democracy like Europe. This has occurred not because of Barack Obama, but because people chose him. America’s populace chose tonight. They did not choose Romney because he was a bad candidate or ran a bad campaign. They chose Barack Obama, because they want the freebies, and they want someone else to pay for it. There are more people that embrace class warfare, than shun it. The days when President Kennedy said, “ask not what your country can do for you, but what you can do for your country,” is dead and gone.

We want the healthcare, we want the free birth control; we want the government to take care of us. The only problem is we cannot afford to do it. We cannot do it at 16 trillion in debt, and moving to 20 trillion in debt will not make things better. More debt never does.

American lost tonight, make no mistake about it. America died tonight. What the country that now occupies its space on this planet ends as is pretty clear. We become Greece on steroids, and the collapse will be televised.

Image Courtesy : WCHI News

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Illinois, U.S.A. — Manufacturing employment in West Virginia dropped 1.3% over the past twelve months according to the 2013 West Virginia Manufacturers Register, an industrial directory published annually by Manufacturers’ News, Inc. (MNI). MNI reports West Virginia lost 1,113 industrial jobs or 1.3% between July 2011 and July 2012, a greater decline than the half percent loss reported over the 2010-2011 survey period.

Manufacturers’ News reports West Virginia is now home to 1,947 manufacturers employing 83,225 workers.

“West Virginia still struggles with decreased demand and high business costs,” says Tom Dubin, President of the Evanston, IL-based publishing company, which has been surveying industry since 1912. “When choosing a location for a new plant, manufacturers look at labor and energy costs, as well as the tax and regulatory burdens. West Virginia often has not been competitive with other states in these areas.”

MNI reports employment in coal mining was one of the few bright spots for the state with employment up 7.5% over the year, and currently accounts for the most industrial job in the state, employing 13,661. The chemicals sector employs the second most with 8,220 jobs, down 6.4% over the year. Third-ranked industrial equipment and machinery accounts for 7,064 manufacturing jobs, down 8.8% over the past twelve months.

Employment losses were also seen in textiles/apparel, down 19.6%; lumber/wood, down 7.1%; transportation equipment, down 5.5%; furniture/fixtures, down 5.3%; and stone/clay/glass, down 2.1%. Employment remained steady in paper products and printing/publishing, while gains were seen in electronics, up 4.8%; instruments/related products, up 2%; primary metals, up 1.6% and food products, up 1%.

Additional bright spots for the state included Nippon Thermostat’s plans to expand its plant in Putnam County; Hino Motors’ planned expansion of its facility in Williamstown; the opening of Spanish auto parts supplier Gestamp’s new location in South Charleston; and the expansion of Rubberlite’s factory in Huntington.

Manufacturers’ News reports the Northern region of the state accounts for 39,005 industrial jobs, down 3.1%. The Southwest region is home to 30,279 manufacturing jobs, up 1%, while Central West Virginia is home to 7,684, down 1.6%. The Southeast accounts for 6,257 industrial jobs, with no change reported over the past twelve months.

MNI’s city data shows Huntington is West Virginia’s top city for manufacturing employment, home to 6,035 jobs, down 1.9% over the year. Second-ranked Charleston accounts for 4,398 jobs, up 2.9%.Morgantown is now home to 4,288 industrial jobs, down 15.3% over the year after Shaft Drillers International moved its headquarters to Pennsylvania. Industrial employment in Moorefield increased 4.7%, with the 4th-ranked city accounting for 3,333 of the state’s jobs. Fifth-ranked Martinsburgaccounts for 2,739 jobs, with no significant change reported over the past twelve months.

Detailed profiles of West Virginia’s 1,947 manufacturers and 320 distributors can be found in the 2013 West Virginia Manufacturers Register, available in print for $87, or available online through MNI’s subscription-based service at www.ezselect.com. Users may generate custom profiles of manufacturers using a variety of criteria, including area or zip code, county, SIC, sales volume, number of employees, and more. Each profile provides up to 30 facts, including vital contact information (phone, web, e-mail), 7,543 executives by name and title, product(s) manufactured, annual sales, and number of employees. MNI also maintains IndustryNet.com, an industrial search engine designed specifically for locating manufacturers and suppliers nationwide, and has recently launched an expansion and relocation guide for manufacturers.

Manufacturers’ News, Inc. is the nation’s oldest and largest publisher of state manufacturers directories. For 100 years the company has identified, researched and profiled manufacturing establishments. MNI employs an 85-person editorial staff to scour state business registrations, trade journals, financial reports, and many other sources to pinpoint every manufacturing establishment in the U.S. Each manufacturer is contacted throughout the year to update their profiles, including their employee counts. For more information, visit www.manufacturersnews.com.

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On the day that Paul Ryan was to give his acceptance speech for the nomination of Vice-President, Ryan knew he had to bring it. Not just because needed to excite the base. Nor was it because he needed to set the narrative in a way that combated the attacks he has already received since Mitt Romney selected him as his running mate. No, he needed to hit it out the park, because a day and half of the same message from different people had grown, if not tedious, certainly stale.

We Built It and We Can Do better may be the rallying cry, but it needed to be told in a fresh way something fierce. If there were any worries about Ryan’s ability to get the job done, they were unfounded.

Simply put, Ryan knocked the ball out of the park.

In a speech that interwove his personal story and beliefs with the plans of a Romney-Ryan ticket, Ryan effectively made the case for the plans and policies they are fighting to implement. Many have commented on Ryan’s likeability and personable manner. Both traits came through in both tone and demeanor. Stories about his family and calling his mother, “his role model” are flatly stock in trade items in politics, but there was an earnestness that permeated through Ryan. He is not just saying these things, they are true for him. This will go a long way for him in the campaign, and made the strong medicine he threw at Obama non offensive.

In a speech that had plenty of zingers in it, Ryan nonetheless never made the attacks personal. They were, in fact, not attacks, so much as critiques. What was different in his speech, in contrast to the attacks thus far from President Obama, is that Ryan focused on the results of the last three years. He zeroed in on facts, and figures, but personalized their consequences.

He made it personal as he talked about the GM factory in his hometown of Jamesville, Wisconsin, the people that he knew who used to work there, and the Obama administrations broken promise to keep it open. This was in contrast to the half a billion the President used in Solyndra. 

Ryan is known as a policy guy. For him its about the numbers, the policy and the results that follow. Ryan, however, was able to explain, keep the speech flowing, serve red meat, and do it with in a humorous way. His best zinger perhaps being the vivid image he conjured with this line: “Americans in their 20′s should not have to move home with their parents house, living in their old rooms, looking up at fading Obama posters and waiting for life to begin.”

A comment meant to target younger voters, but still managed to convey an important message to adults as well. Its a tactic that he used more than once. Throw a funny zinger like, “The President has said he has not communicated enough. That is his job to tell a story. In the last four years we have not suffered from a lack of words from the White House. What we are missing is leadership in the white house.”

Never in the speech did it become about Obama personally or about ideology. Just the results and what needs to be done to get better results. This is why the speech was a home run. Not because he could get applause lines, or get a standing ovation from the people in attendance. They are all going vote for Romney and him anyway. No the brilliance was delivering a speech that moderates, independents, and apathetic voters can understand. The message came through because it was a truthful one delivered at partisan event that did not sound at all partisan. Not in tone. And that is what Romney will need from Ryan during the campaign.

Image Courtesy of  PBS News Hour

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The big night is here. Mitt Romney takes to the stage at 11pm to accept the Republican Presidential Nomination and deliver the biggest speech of his life. It has been a long road for Romney. He has never been fully embraced by the party base, and there is still speculation by many on whether he will be tonight or on election day.

One of the things he will have to deal with in this election, which may appear small but is part of the larger narrative is the liberals that try to paint conservatives as a racist party. There have been more than a few stories from the liberal networks about the number of blacks at the national convention. Even though the Republican National Convention had several African-American speakers the story is that no blacks are here. The truth is that there are plenty, and they all have to deal with the question of how they can support Romney.

If you were to put aside the difference in success for blacks under Democrats versus Republicans and just focus on Mitt Romney, here is what we find: Romney’s life has been one of competency. It is a life filled with success at running things. He has turned around companies. He ran the Winter Olympics, a job offered to him because of his turnaround experience, and saved them. He has been Governor of Massachusetts and done a good job. He did not get everything he wanted, but he did leave the state of Massachusetts with a rainy day fund, something the federal government could use right now.

What do we have on the other side?

President Obama’s life is a life of personal success. He went to a good school. He went to an excellent graduate school. He managed to get elected to public office, and managed to get elected President of the United States. All of that is nice personally. But where is the record of success running things?

He has never run a business or worked in one, nor has he run a city or state. Since he never has run anything, we are left with what he has done thus far. I do not find that record a strong one. Unemployment is 8.3% – 15% in black communities – and has been as high as 10%. He promised to lower the deficit, but increased it. He did not lower the debt, he spent more than any President before. Has that spending lead to a robust economy? No. He bailed out GM, which went bankrupt anyway, and still owes the country billions.

The only thing he can really point to is a healthcare plan that is still unconstitutional—the Supreme Court notwithstanding– and will break the financial back of the country. He can point to foreign policy when it comes to Bin Laden and drone attacks, but many will argue that all of that is on the back of President Bush.

Yet, African-Americans are supposed to support him. Worst, if you support Romney, then somehow you are a racist if you are white, and self-hating if you are black.

Both are wrong. What matters in life is success. What matters is doing something and it working. Not how you feel about it, not how it sounds, and not something that is said by a black man. If a black man is in charge, and he screws up, how does that help anyone, black or white? If a white man is in charge and screws up, how does that help anyone, black or white? It does not. You need to be competent at what you are doing. You need someone in charge that can do the job.

Here is a thought. Ask any black democrat this question: “If you are a manager for a company, would you hire someone that was incompetent? Would you keep someone in a job they were failing at just because they were black?”

The answer would be no. So the real question is, why is that acceptable for the most important job in the country?

Image Courtesy of   NewsHour

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The big gun of Republican party, Chris Christie, may have been scheduled for 10:30 the first night of the convention, but that did not stop the day’s first speakers from starting the fire fight early. Congressional candidates from across the country took to the stage and laid down the foundation for this season’s election campaign.

Each speaker incorporated the basic tenets of the conservative movement; smaller government, low taxes, and protection of life, all consistent themes in the conservative movement. Nothing new there. The real shots were measured in words about the results President Obama has gotten in the last three years. Congressional candidate John Archer of Iowa summed up the theme best,

“We’ve had three years of hope and change. Where has it gotten us?”

The strategy is clear, hammer away at the economic results the President has in his first term. President Obama’s record was target rich environment that each speaker took advantage to full effect. With two debt clocks clicking away overhead, each speaker made the case against the spending that has occurred under the President. Each ridiculed the idea of government creating success with a money giveaway. The consistent applause line was any statement proclaiming that, in fact, business owners did build their success, not government.

The die has has been cast and all republicans, at all levels will make this about the Obama record, unemployment, fighting tax hikes, and repealing Obamacare. The themes of the Romney campaign, “We Built It,” and “We Can Do Better,” are not just displayed in large placards around the hall, but found their way into each speech. Congressman, Tim Scott, summed up the feeling in the room succinctly by singing out, “Hit the road jack, and don’t you come back, no more, no more, no more.”

At the end of his rendition the crowd exploded in applause.

Convention speeches, especially the early afternoon ones, are staged affairs with every candidate attempting to get their 15 minutes of time. Circulated talking and speech points are passed and shared like candy bar freebies. No matter what the primary was like, everyone supports (in their speeches) the presumptive nominee. This true of all political conventions. The Republican convention is no different in that way, but there is a difference this year. There is a palpable air of urgency in each candidate.

This is expressed in the believe that the fiscal cliff the country is heading for could remake the country in a way the founders never wanted, envisioned, or would have agreed too. This is the election that could determine the future for not just the next decade, but for a generation. It is not just empty speeches, there is belief and fear as well. Stronger than either was a determination in each speaker’s voice that they were committed to winning the election and supporting Mitt Romney.

And this was just the warm up acts. The main act tonight of Ann Romney and Chris Christie will truly set this convention off.

Image Courtesy of  NewsHour

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Washington, U.S.A. — The Concord Coalition has said that new projections by the Congressional Budget Office (CBO) underscore the need for Washington to commit to long-term fiscal reforms while dealing with this year’s looming budget decisions. Concord said the new numbers should also provide a sobering picture for this year’s candidates for federal office one that should temper election-year impulses to offer voters unrealistic promises.

“Once again, CBO’s projections show that if politicians don’t deviate from current policies, the country will continue down an unsustainable path that threatens to weaken the country, jeopardize our standard of living and leave our children and future generations with unmanageable levels of government debt,” said Robert L. Bixby, Concord’s executive director. “These numbers should frame this year’s political debates, and candidates from both parties would do well to spend some time studying their implications.”

“We need to put the country on a better fiscal path,” he added, “and candidates must clearly explain to voters — with specifics, not empty rhetoric — how they plan to do that. It will require setting priorities and making changes throughout the federal budget, and voters deserve to hear credible plans for doing this.”

CBO’s Update to the Budget and Economic Outlook estimates that the federal deficit for this fiscal year, which ends Sept. 30, will total $1.1 trillion. While that is down slightly from CBO’s March projection, it will be the fourth consecutive deficit of more than $1 trillion. In addition, federal debt held by the public would reach 73 percent of GDP, which CBO notes is the highest level since 1950 and is “about twice the share that it measured at the end of 2007, before the financial crisis and recession.”

The CBO prepared two sets of projections. The first — the CBO’s “baseline projections” — assumes that current laws will generally remain in effect. An alternative scenario, however, looks at what could happen if Congress changes certain laws to continue many current policies. This alternative scenario presents a far more troubling long-term picture. Using the new CBO numbers, The Concord Coalition today updated its own “Plausible Baseline,” which applies what Concord considers to be realistic assumptions about future policy decisions. These projections are close to the CBO’s alternative scenario.

The budget office notes that the outlook for budget deficits, federal debt and the economy are “especially uncertain now because substantial changes to tax and spending policies are scheduled to take effect in January 2013.” These changes have often been called the “fiscal cliff” because if Congress allows all of them to take effect at once, it could cause substantial short-term economic damage, perhaps triggering a recession.

Under Concord’s Plausible Baseline, deficits between 2013 and 2022 would be much higher, averaging over 5 percent of GDP rather than 1 percent. Debt held by the public would grow to 93 percent of GDP by 2022, the highest level since shortly after World War II. As the budget office points out, that is not a sustainable level of federal debt.

“The differences between the CBO baseline and either CBO’s alternative scenario or Concord’s Plausible Baseline are striking, and they highlight the importance of the policy decisions that elected officials must confront before the end of the year,” Bixby said.

“While it is important to support the economic recovery, Washington should also be laying the groundwork for the big fiscal reforms that are necessary to put the federal budget on a more responsible track over the long term. It is possible to do both, but this will require more thoughtful policy-making and greater bipartisanship than we have seen in Washington recently.”

• Choices over tax policy, account for the bulk of the difference between the CBO baseline and the more plausible scenarios within the 10-year budget window. Extending the 2001 and 2003 tax cuts, along with fixes to the Alternative Minimum Tax (AMT) and debt service costs would add $5.2 trillion to deficits over 10 years.
• In CBO’s baseline projections, mandatory spending will increase from 13.3 percent of GDP in 2013 to 14.4 percent in 2022. Nearly all of that increase would be due to the growth of just Social Security and Medicare — representing the effect of the baby boom generation entering retirement. CBO projects that by 2022 over half of the entire federal budget will be spent on just Medicare, Medicaid, and Social Security.
• For Medicare specifically, baseline growth is not attributable to health care inflation but instead to demographics.
• The mandatory spending category of income security, now higher than normal because of the recession, would drop by over 60 percent over the budget window (from 2.1 percent of GDP to 1.3 percent).
• Interest payments under the Concord Plausible Baseline would more than double, growing from 1.4 percent of GDP this year to 3.6 percent in 2022, and would cost over $5 trillion during the 10-year period.
• If the caps included in the Budget Control Act are adhered to, CBO projects that discretionary spending would decrease from 8.3 percent of GDP in 2012 to 5.6 percent by 2022 — the lowest level in the last 50 years.

For more about our plausible baseline visit:

http://www.concordcoalition.org/concord-coalition-plausible-baseline

Image Courtesy of  Third Way

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Eddie Campbell is a Scottish comics artist, who has been a widely known author for decades. He allows a lot of history to influence his work, such as Greek mythology, as well as tie in his own autobiographical story lines. He is able to connect different concepts throughout his work, creating an undertone of authenticity for the readers to enjoy. His latest book is no different, which merges different elements to the story line, but what is even more influential and unique is his way to establish a comic book in a way that reads as a novel.

Money is something we all have to deal with and attempt to prove that is positively influential in our lives, rather than an unfortunate issue. Eddie Campbell’s book tells the story of just that: trying to find a way for money to be a constructive component to society, instead of a game of downfalls. Throughout Campbell’s graphic novel, money is compared to time, obstacles, and referred to as “The Lovely Horrible Stuff.”

‘The Lovely Horrible Stuff’, or money, prevents the real growth and creativity of each individual that could be formed overtime due to having to spend so much time to figure out the obstructions of income. While it has only two chapters, the text provides many scenarios that all readers can relate to when dealing with the preventative actions of money and the people in charge of it. These continuous situations are unfortunately relatable to all readers who have ever dealt with trying to make a living. The story tells of money not being trustworthy, as well as the people who speak of it. Who do you trust? Since you cannot trust money or people in your life, you spend your time daydreaming, which in turn costs you time which could have been spent making money.

Campbell’s story spends some time examining Yap, an island in the Caroline Islands, where money is still very influential and powerful today. Captain O’Keefe who is believed to be a historical sailor, who tried to alter Yap’s society, is also brought up throughout the latter part of the book. O’Keefe is an additional example of what happens when one messes with money to the book. Campbell involves people from the past such as O’Keefe and Shakespeare with the story’s present situation in a way that shows how ridiculous money has been throughout time.

The illustrations highlight the great comic drawing skills Campbell has, which help to depict the meaning behind the words, as well as adding humor to the story. The book is honest, which allows readers to see how truly backwards the world is due to money’s control over their lives. Campbell’s artistic skill of drawing really adds a unique touch. The images create a way for the reader to see the story at its greatest potential by depicting different actions and perspectives. Something that is also unique is there are many types of pictures throughout including photographs, sketches, and computer-generated images. The variety of images emphasizes different story lines within the book, as well as connecting the reader’s real life to the message.

The Lovely Horrible Stuff exemplifies the affects money has on a person, on family, on business relationships, and ultimately on the world as a whole. There is no better depiction of justifying the feeling of resentment toward money than this story.

Eddie Campbell’s The Lovely Horrible Stuff is available for purchase on July 10, 2012.

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Lusaka, Zambia – Representatives of hundreds of thousands of African tobacco farmers will gather at the International Tobacco Growers Association Africa Regional Meeting from May 28 to 30 to discuss outrageous recommendations being developed by international regulators that would destroy their livelihoods.

Farmer leaders attending the meeting from Kenya, Malawi, South Africa, Tanzania, Zambia, and Zimbabwe will focus on the recommendations provided by the Framework Convention on Tobacco Control (FCTC) working group on Articles 17 & 18. The FCTC originally recommended that governments of these countries should help tobacco farmers find viable economic alternative crops, assuming that tobacco demand will decline.

Very little research on alternative, economically viable crops has been undertaken and as the group recognises, any future research will require lengthy time trials. However, the FCTC has now put forward unreasonable and absurd measures to phase out tobacco production, without offering the vast African farming community any viable fall-back solutions.

Antonio Abrunhosa, chief executive officer of the International Tobacco Growers Association (ITGA), which represents more than 30 million tobacco farmers and workers around the world, says an entire region’s economy is being put at risk by this “new form of imperialism” by health officials with no experience in agriculture. “With nothing to show for their efforts to find alternatives to tobacco farming, they’re moving toward telling governments to make it impossible for farmers to keep growing tobacco, regardless of the impact on millions of jobs.”

Tobacco farming not only provides a good living for millions of people but it is a vital source of foreign revenue for many of these countries. In Malawi 7 out of 10 workers are either directly or indirectly employed by the sector and tobacco represents 80% of the country’s agriculture GDP.

Francois van der Merwe, chairman of ITGA Africa Region said the decision makers within the FCTC have moved beyond their original intention of helping tobacco farmers find viable alternative crops. “This shift is happening with a complete disregard for the fact that tobacco is one of the only crops that provides sustainable income for many families in this region.”

Jorge Nestor, the Argentinean President of ITGA, referred the vast experience of his association in the search for alternative crops, highlighting the huge investment necessary to develop complementary crops to tobacco, far beyond the possibilities of the majority of tobacco growers’ communities.

The ITGA is a non-profit organization that works to advance the cause of millions of tobacco farmers to the world. It strives to provide a strong collective voice on an international and national scale in order to ensure the long-term security of tobacco farming communities.

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Texas, U.S.A - The U.S. Environmental Protection Agency relied on four highly questionable assumptions in 2009 to drastically inflate the health benefits from far-reaching new rules, according to a new report published by the Texas Public Policy Foundation.

“For the last three years, the EPA has justified a series of strict and incredibly expensive new air quality regulations on the assumption that even trace levels of particulate matter can accelerate death,” said the report’s author, Kathleen Hartnett White. “But the science behind the EPA’s new approach to assessing health risks is deeply flawed and misleads the public.”

Since 2009, the EPA has attributed risk of “early death” or shortened lifespan from fine particulate matter (PM 2.5) concentrations far below the health protective national standards and even below natural levels that would occur absent human activity. The EPA is justifying the many unprecedented new regulations commonly known as the EPA train wreck on the basis of the health benefits gained from reducing these new risks from already low levels of particulate matter – a substantial portion of which is airborne dust.

The new regulations, however, target other pollutants and not PM 2.5. In the recently finalized rule to reduce mercury emission from power plants, EPA estimated 99.9% of the health benefits derive from coincidental reduction of particulate matter at levels far below the already conservative federal standard. Without this methodology, the cost of reducing mercury would be far higher than the benefits of further reduction of mercury.

In the report, White challenged four key assumptions at the root of the EPA’s new risk-assessment methodology:

• PM 2.5 causes early death.
• There is no level of PM 2.5 below which risks of premature death cease.
• The EPA’s new rules are necessary to prevent hundreds of thousands of deaths.
• Coincidental reduction of PM 2.5 is sufficient justification for new regulations designed to control other pollutants.

“The EPA’s manipulation of cost-benefit analyses to project massive benefits at comparatively modest cost denies policy­makers and the public the information needed to weigh the many trade-offs involved in complex societal decisions about unacceptable risks,” White said. “Economic impact does matter, and it matters to human health. Life span and health are strongly correlated with the opportunity to work and make a good income.”

The report recommends amendment of the Clean Air Act to establish minimal criteria for rigorous scientific risk assessment of health effects.

The report, “EPA’s Pretense of Science: Regulating Phantom Risks,” is available for download from the Foundation’s website.

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New York, U.S.A. – New Report Added in ResearchMoz Reports Database Crop Protection Chemicals Market - Global And Developing Countries (China, India And Brazil) Analysis, Market Size, Trends And Forecasts (2009 – 2016)

Global crop protection chemicals market continues to grow and discover new growth opportunities in emerging economies. However, market maturity attained by some of the most widely used crop protection chemicals will slow down the growth of the global crop protection chemicals industry substantially.

Developed economies including North America and Europe are expected to show average growth due to market maturity and restriction imposed on usage of certain crop protection chemicals by regulatory authorities; however developing countries are expected to enjoys healthy growth rate in near future because of rising demand for crop protection chemicals.

To Browse Full TOC, Tables & Figures visit

China crop protection chemicals industry is the largest among the three developing markets covered in the report, both in terms of revenue and volume. Herbicides segment is the highest contributor towards the China crop protection chemicals market in terms of consumption throughout the forecast period. Fruits, vegetables and nuts crop segment was the largest consumer of crop protection chemicals and will remain so in the coming years.

This report analyzes the worldwide markets for Crop protection Chemicals in USD million (revenue) and thousand tons (volume) by segmenting the market on the basis of Pesticides Type, and end-use segments. The report provides separate comprehensive analysis for China, India and Brazil. Annual sales estimates and forecasts (volume and value) for three emerging markets are also provided for the period 2009 to 2016.

The report helps in providing a comprehensive overview for

- Market forces driving and restraining the growth of the market

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Latest Market Research Reports on Crop Protection Market

Crop Protection Chemicals Market

Global Crop Protection Industry

NAFTA Crop Protection Industry

Europe Crop Protection Industry

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Global Crop Protection (Pesticides) Market

This report is an effort to identify driving forces behind the crop protection chemicals industry of India, China and Brazil over the next five years. The report provides extensive analysis of the crop protection chemicals industry, and current market trends and presents a comprehensive assessment on the basis of:

Pesticides Types

- Herbicides

- Insecticides

- Fungicides

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Crops

- Cereals

- Sugarcane

- Fruits, Vegetables and Nuts

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- India

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- Asia Pacific

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Pesticides Market

Polyurethanes (Pu) Market

Computed Tomography (CT) Market

Nutraceutical Ingredients Market

Organic Electronics Market

U.S. Lighting Products Market 

Baby Care Products Market

Ultrasound Market 

X-Ray Market

Magnetic Resonance Imaging (MRI) Market

Toluene Diisocyanate (TDI) Market

Methylene Diphenyl Diisocyanate (MDI) Market

Nutraceuticals Product Market

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The economic crisis batters a great part of the world. Countries that used to live the “American dream” now witness how the extensive wave of revelry and happiness has come to an end. Spain is one of the many countries that lived above their possibilities. The Spanish downturn has given rise to an excessive increase of unemployment and has been the perfect excuse for politicians to pull out their scissors and begin cutting public spending from their welfare state.

The Spanish people, who watch how the youth unemployment is more than 50 percent, have not taken long to point their fingers at the politicians. Spanish citizens accuse politicians of being responsible for the country’s irreversible state, which they believe is inevitable as a result of the electoral system, where only two teams play.

It is quite the opposite in the United States. Criticisms about the political ‘duel’ have not yet arrived. As a matter of fact, some citizens are proud of it. They say that in the United States, presidential elections gather the many political and social aspects that characterize this country. However, critics against the electoral system, such as Occupy Wall Street, have indeed begun to be heard and could amplify if the situation worsens.

Since George Washington set the foundations, the United States has visibly favored a two-party system, made up of two blocks in Congress. Supporters of this system see it as a way to preserve the democratic health of the country. Perhaps they may be right, but it is also true that reducing the possibilities to solely black and white might not be the best example of a democracy.

It is inarguable that in the elections more than two candidates are represented. However, these dissidents are hardly given any voice in comparison to the two giants. As if that were not enough, their campaigns seem ridiculous when judged against the big parties’ greatly funded campaigns.

In previous elections, most of the media hardly had any say about third party candidates, such as McKinney, who was parliamentary of the United States for many years, or Nader, the activist who presented himself as independent and who ended up being attacked about his credibility and pride.

The media should try to balance the budgetary instability of the current plutocratic regime and avoid instructing anyone with phrases like, “Voting for a candidate that is not a Democrat or Republican is a waste of your vote.” Let us remember that democracy is not a political calculation, but simply a way of expressing one’s support for a leader. Journalists, who are guarantors of freedom, should attempt to treat all parties fairly.

Image Courtesy of  Pete Souza (Source; Story) [Public domain], via Wikimedia Commons

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New York, U.S.A.- The Business Council for International Understanding (BCIU), a White House initiative founded by President Dwight D. Eisenhower for senior business executives to interact with heads of state/government, cabinet ministers and senior government officials, announced the successful completion of a forum in New York City with His Excellency John Evans Atta Mills, President of The Republic of Ghana, and 25 business leaders from across the world.

Sponsored by United States Pharmacopeia and Eni S.p.A., the BCIU forum provided a platform for President Mills to outline the strategic opportunities for investment in Ghana while also addressing the fundamental economic pillars fueling Ghana’s fast growing economy. Business participants similarly outlined strategic opportunities for their companies and industries, while also engaging in a dialogue with the President on investment opportunities.

“We as a government are committed to creating the necessary environment to ensure that investors have good returns on their investments,” said President Mills at the forum. “Now that Ghana’s economy has been described as the fastest growing economy in the world, and at a time oil has been struck, let me be quick to say that it is our determination to ensure that this God-given resource becomes a blessing and not a curse.

We want to make sure that you have a credible judicial system, you have the kind of labor which will respond to the needs of the business, that you have a system which will respond to the very needs of investors.”

President Mills affirmed Ghana’s commitment to democracy, the rule of law, and respect for the judicial system, outlining their significance in fostering economic growth, return on investment and job creation.

“We appreciated the President’s unscripted fluency on economic priorities for Ghana and his comfort level in speaking directly and frankly with our members and international investors,” said Peter Tichansky, President and CEO of BCIU. “The interest in accessing Ghanaian market across major industries – and Africa through the Ghanaian gateway – were consistent themes expressed by businesses attending the forum.”

As a result of this and a previous visit by the President with the business community in New York, BCIU announced it is organizing a trade mission to Ghana later in the year with member companies interested in further exploration of opportunities.

“As one of the largest investors in the Ghanaian oil industry from exploration to production, midstream, and power, we were thrilled to support this outstanding forum with President of Ghana,” said Enzo Viscusi, Group Senior Vice President and Representative for the Americas, Eni.S.p.A.

“Ghana’s commitment to democracy, rule of law and sound investment protection principles has made our experience in the country very rewarding and is one we look to build upon without reservation. President Mills’ administration has shown tremendous discipline and leadership, which bodes well not only forGhana but also for the entire continent.”

“While the expansion of the oil and other major industrial industries in Ghana is clearly a major priority, we are very pleased that this administration is also focused on ensuring a thriving healthcare and pharmaceutical industry,” said Brian Hendrix, Executive Vice President and Chief Operating Officer, the U.S. Pharmacopeia (USP).

“As a result of this commitment and the stability and economic viability of Ghana, we have announced plans to create the USP-Sub-Saharan Africa Center for Pharmaceutical Advancement and Training (CePAT) in Accra to serve sub-Sahara Africa as an integrated platform for training, education, consulting and laboratory capabilities. From Accra, we will offer a systematic approach to the quality control of medicines in sub-Saharan Africa.”

“We believe Ghana offers terrific opportunities for growth and business development,” said Ed DiSanto, General Counsel and Chief Administrative Officer, American Tower. “As such, in December 2010 we entered into a joint venture with Africa’s largest mobile operator, MTN Group Limited (MTN) and launched our operations in Ghana.

TowerCo Ghana currently owns and operates nearly 1,900 wireless communication tower sites and plans to develop several hundred new towers over the next several years. We are pleased with the performance of our investment, and our team of 84 Ghanaians, and indirectly hundreds of others via our vendor relationships, are doing a great job.”

“Not only are international firms interested in Ghana, but Ghanaian entrepreneurs are also investing heavily,” said Humphrey Ayim – Darke, Chairman, Greater Accra Chapter, Association of Ghana Industries. “We are rapidly building our own companies, expertise and resources to serve our fast growing markets and taking advantage of our well-educated, hard working and expanding middle class.

We were delighted to participate in this strategic dialogue with international investors and are eager to make it clear that U.S. companies can find outstanding local partners in Ghana.”

“The Ghanaian agriculture sector, while not as high profile as oil, is nonetheless one of the most promising in the world thanks to President Mills’ and past administrations’ policies,” said Steven Wallace, Founder and President, The Omanhene Cocoa Bean Company. “To this day, European and American chocolatiers buy cocoa beans from Ghana and export them to their chocolate factories throughout the world where the famed Ghanaian beans are transformed into some of the world’s most delicious and expensive chocolate.

Now, for the first time, The Omanhene Cocoa Bean Company, which is headquartered in the U.S., is producing world class chocolate entirely in Ghana and uniquely preserving all the best attributes of the finest cocoa beans in the world.”

Image Courtesy of   United Nations Photo

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President Obama told a packed audience of supporters in Vermont on Friday that America faces a stark choice between a society based on “shared responsibility” and a society “where you’re on your own.” He pledged to continue his efforts to equalize the tax burden and to push legislation which he believes will continue to create jobs and strengthen the economy.

Speaking of his rivals in the Republican presidential primary, Obama said, “Their philosophy is simple: in America, you’re on your own. If you’re out of work and can’t find a job, too bad; you’re on your own. If you get sick and don’t have healthcare, you’re own your own. If you’re born into poverty, you’re supposed to pull yourself up by your own bootstraps, even if you don’t have boots.” He continued, “They believe that’s how America advanced. That’s their cramped, narrow conception of liberty, and they are wrong.”

Obama said the Republican philosophy is reflected in their efforts to cut government programs such as Medicare, Medicaid, and Social Security, deregulate the banks, and create a tax structure that favors the wealthy. That is the same approach that caused the recession in 2008, he said.

“The recovery is happening,” said Obama. “In three years, we’ve created four million new jobs. We’ve rescued the American auto industry. American manufacturing is stronger than it’s been in years. I know there are still a lot of people out of work, and things haven’t gone as fast as we would like, but the last thing we can afford to do is go back to the same policies that caused this mess in the first place.”

Obama’s speech at the University of Vermont in Burlington was the first leg of a fundraising tour through New England. He drew laughs from the heavily partisan crowd when he pointed out that he was the first American president to visit the state in 17 years. President George W. Bush avoided Vermont, a perennial stronghold of the Democratic party and bastion of liberal politics, through all eight years of his presidency. President Bill Clinton visited the state during his first term.

“We’re going the reset the clock on that,” he said. “We love you,” shouted a woman in the audience. “Love you back,” Obama responded, drawing more laughs and cheers.

While avoiding the Supreme Court hearings on his healthcare reform bill, Obama touted the benefits of the law and said it has already had a positive impact. “Two and a half million more young people now have health insurance because they’re allowed to stay on their parents plans until they’re 26,” said Obama. “Seniors have already saved hundreds of millions on their Medicare prescription drug benefits. The healthcare reform we’ve passed will ensure that no one will go broke just because they got sick.”

He said the Republican party originally supported many of the ideas included in the healthcare reform law and that their uncooperative, anti-government attitude is something new. He said some of the country’s greatest achievements, such as the GI Bill, the space program, and the interstate highway system, were only possible with bipartisan support.

“There used to be a common spirit of cooperation, but not anymore, at least not in Washington D.C.,” said Obama. “But outside of Washington, most Americans understand that no matter who you are or where you’re from, we rise and fall as one people.”

Obama concluded by telling his supporters not to be discouraged by the opposition to the changes and improvements he promised when he ran for office in 2008.

“I told you change would not be easy,” said Obama. “I’m not a perfect man – Michelle will tell you that. But I promised I would keep fighting as hard as possible for positive change, and I have kept that promise. We’ll keep working until we’ve finished what we started in 2008. Press on with me. Press on, and we’ll remind the world what America is all about.”

Image Courtesy of    Ryan Rodrick Beiler / Shutterstock.com

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The Center for Tax and Budget Accountability (CTBA) and the Social IMPACT Research Center released a new analysis that highlights how large cuts to human services, which provide supports for some of the most vulnerable people in the state, will send shockwaves through the state’s economy.

The new research, entitled Ramifications of State Budget Cuts to Human Services: Increases Job Loss, Decreases economic Activity, Harms Vulnerable Populations, shows these cuts could result in nearly 4,000 lost jobs and a $458.5 million loss to Illinois’s economy.

While budget discussions are just beginning, the three year budget projection issued by the Governor’s Office of Management and Budget as part of the new Budgeting for Results process indicates that the human services budget area will receive a significant cut of $350 million dollars from Financial Year2012 to Financial Year 2013.

Faced with cuts of this magnitude, human services providers will reduce hours, lay off staff, close facilities, or do all of these things. Not only does this impact thousands of Illinoisans who rely on these programs, but the cuts will have a direct economic consequence on the state.

Since most human services are delivered by private, nonprofit businesses, the vast majority of the economic effects will land on the private sector. When organizations providing human services must cut programs and reduce services, these actions ripple through the economy causing job loss in communities and sectors all across Illinois.

More broadly, cuts to human services will translate directly into decreased economic activity statewide, and the report shows that could result in a loss of $458.5 million to the economy. The actual negative economic impact of a cut to the human services budget exceeds the actual size of the cut since spending on human services generates $1.31 of economic activity for every $1 spent. In other words, state funding to human services functions as an economic engine and removing it from the economic chain has serious consequences:

“By cutting human services funding further in the next budget Illinois is lengthening the time it will take to fully recover from the Great Recession,” said Yerik Kaslow, Director of Education and Social Policy Analysis at the Center for Tax and Budget Accountability and co-author of the report.

“Since human services are often the most cost-effective approaches to treating and solving social problems, with these cuts we are allowing social problems to become more entrenched and more difficult to address, which sets the stage for more costs to all Illinois taxpayers.”

This is not simply a point-in-time issue—cuts to human services accumulate: the $1.64 billion dollar cumulative underfunding of human services since 2002 likely led to the loss of over 18,000 private sector jobs in Illinois over that same period. As of October 2011, the State had a backlog of bills to human service providers totaling nearly $459 million, which has the effect of withholding over $600 million from the Illinois economy.

Illinois is in the midst of recovering from the worst recession in two generations. Job growth and increased economic activity are of paramount concern to voters and lawmakers alike. Ramifications of State Budget Cuts to Human Services provides evidence that public spending on human services serves as an economic stimulus for jobs and private spending in the broader Illinois economy.

Adequate public spending also has the longer-range benefits of avoiding future social problems and associated costs. In light of this, cuts to human services are short-sighted and detrimental to Illinois’s economy.

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Sweden has recently begun moving away from paper money, favoring instead money of the electronic kind.  Not to say the country has completely eliminated the need for physical money, but bank notes and coins make up a meager 3 percent of the Swedish economy, contrasting with a 7 percent average for the rest of Europe and 7 percent for the United States.

In major cities, public modes of transport have stopped taking cold, hard cash.  Tickets are instead bought in advance or with a text message from a cell phone.  These businesses are not alone.  Many other businesses now accept only cards, and a few banks no longer handle physical money in any way, preferring to profit from electronic transactions.

Even churches have made the jump, with many now accepting cards when worshipers make donations. Many have expressed concern at the technological jump.  Those that prefer coins and bills are worried about the complexities that appear with such an economy.

The young and others may have a good grasp on technology, but for the elderly in rural parts, these new methods present all sorts of problems.  Many do not even have credit cards, and most of those that do, do not understand how to withdraw money or use their card in many transactions.

This move to digital money, however, has undeniable benefits.  There is now much less room for shadow economic activities, like concealing profits when tax season comes in Sweden, especially when compared with the rest of Europe. In Italy, Prime Minister Mario Monti has moved towards limiting cash transactions to payments of up to one thousand pounds.

Another beneficial effect is a reduced number of robberies in cash-holding organizations. The number of bank robberies went from 110 in 2008 to 16 in 2011, the lowest since data began to be recorded 30 years ago. Robberies of security transports have also lessened.

Not that this switch has not caused any problems. Cyber-crime is on the rise, with the number of reported crimes up from 3,304 in 2000, to the astronomical 20,000 in 2011.

Oscar Swartz, the creator of Sweden’s first Internet provider, Banhof, thinks that a digital economy also complicates matters of privacy, due to electronic trails resulting from transactions.  “One should be able to send money and donate money to different organizations without being traced every time,” he says.

It is unlikely, however, that physical money will be completely phased out anytime soon.  A much more likely possibility is that it will slowly play less of a role in the economy, though not disappearing completely anytime soon.

Sweden was ranked number one in the Global Information Technology Report, first shown at the World Economic Forum in January, for the second time in a row. The Economist Intelligence Unit listed Sweden first in 2010, in its most recent digital economy rankings. These rankings track how much countries have integrated information and communication technologies within their economies.

In 1661 Sweden was the first European country to introduce bank notes to its people, a move that very much helped all countries move forward.  Now, as the country phases them out, could they be on the right track once more?

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Tonight President Obama gave his third State of the Union speech and he had allowed drips and drabs of the speech to leak in advance, clueing the media in on the theme of the speech; economic fairness. At the speech’s opening, however, President Obama used a very different, yet very clever rhetorical device.

He opened with a reminder of the work necessary to track down and kill Osama bin Laden last year. By doing so, he not only reminded America that he managed this fiend on his watch, but also used the operation to illuminate the thrust of his speech. Everyone knows that in a military operation, soldiers must work together for the mission to succeed. If they don’t, the mission will fail, and someone is likely to be killed. As a debate tool, it was brilliant tactic.

He followed up with cleverly avoiding any mention of the phrases “fair share” and ”fair shot,” contrary to what he has in his campaign speeches for the last two months. This time he used the word “everyone” as a substitute. The concept of everyone doing this or that for a common cause is something people can agree with superficially, but that’s where the speech ultimately falls flat. The State of the Union (SOTU) was all surface, no substance. High rhetorical skill, but low on reality.

SOTU speeches by nature are always low on details. No matter who’s in office, the speeches are always too long and boring for most people. Yet, President Obama has shown a habit of making grand promises and pronouncements on one matter or another, only to let them never materialize, and blame the Republicans, though most often he cannot even get his own party to agree with him.

In order for anyone to agree with the basic thrust of his speech last night, you have to buy into the idea that America is an unfair place; that the rich were born that way, that they stay that way at your expense, and that the only way for your government to help you is to tax them. You have to buy into the concept that to lift up the people at the bottom, you first have to pull the ones at the top down. It is equal to saying the only way a football team can win is by deliberately trying to injure the members of the opposite team. Under the President’s notion of ‘a fair share,’ you take from one entity, and give what you took to someone else. This means, the companies that leave the country due to high corporate tax rates, excessive regulations, or to avoid unions, these are the ones you tax, and give the money to companies who say nothing about those three issues, companies who are in the President’s pet industries; like Sylandra.

When explained this way, most Americans will not buy into it. Here is a question to those who do: If only the rich are born rich, and stay rich, how did the Queen of Nice, Oprah Winfrey, go from dirt poor to a billionaire? How did Michael Dell go from broke college student to a multi-billionaire? How did Jorge Perez who arrived here with no money, and unable to speak the language, end up a billionaire? Questions like these destroy the phony idea that you don’t have a fair opportunity in this country. If America were the country that the President tries to portray, we would not know who any of those three people are. Everyone in America has a fair opportunity to succeed, but you’ll never have the same results. Not everyone will work as hard, open a business, save money, or invest. Any one of us could have given up the keg and frat house parties in college to build computers in our dorm room. We did not, so we don’t have what Mr. Dell has accomplished.

So the question is, if you do become affluent and rich, should you pay more in taxes? The answer is yes, and the rich already do. When Mitt Romney pays 15% on 23 million dollars that is higher than 30% of $100,000; the amount Warren Buffet’s often-mentioned secretary, presumably makes. Of course, the types of income are different. One is a salary and the other from long-term investments, hence, the percentage difference. But, what is the President’s focus, the bottom line dollar amount of three million paid by Romney, or the percentage?

Tonight the President proposed that at minimum, the capital gains rate should be 30%, but only for those above a 250,000 in earnings. He really doesn’t think that everyone should get a fair shake. No, if you are successful he wants to shake you down, using a vague morality play as a shield. Question: If everyone should “sacrifice” for the good of the country, then what about the 56 percent of people that do not pay any taxes at all? Where’s their skin in the game? Where’s the call to have them pay their fair share?

The problem in this country is not that the rich do not pay enough. The top five percent in wage earners pay 60 percent of the tax bill.  Instead, the problem is that the government under President Obama wishes to continue spending more money and have the rich pay for it. In the SOTU speech alone, the President called for the creation of five new government entities. That’s five new departments on top of the over two million that we have now.

The problem is not that the rich pay 15% on investments made from money that has already been taxed at 34 or 39 percent, it’s the pure math that if you confiscated 100 percent of the income from the rich, it still would not pay for the Obamacare law, let alone Medicare, Social Security, or Medicaid.

In the history of this country, when you raise rates, tax revenues go down. It happens because people stop investing, or invests in tax-free muni bonds. They stop expanding their business. They simply do what all humans do, which is find ways to avoid paying more for something, no different from anyone going to one gas station over another, because one has lower priced gas.

The SOTU speech is the first salvo in a class war that may tear the United States apart, and one that may lead to its collapse, IF the President wins that war. In the end, considering that the poor never created a job, and the middle-class is employed and maintained by rich people, hurting them, by taking money out of their pocket, only hurts the people the President purports to be fighting to help.

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A new study estimates that in 10 years, Kentucky could create over 28,000 jobs while lessening the growth of electricity bills by passing clean energy legislation currently in front of the General Assembly. Synapse Energy Economics produced the study, which is an analysis of the Clean Energy Opportunity Act introduced by Representative Mary Lou Marzian.

“This study confirms that legislation to diversify our electricity portfolio would be economically beneficial to Kentucky,” said Justin Maxson, President of the Mountain Association for Community Economic Development.

“The bill would allow the state to hedge against increasing rates by making homes and businesses more energy efficient. And it would spur the creation of clean energy jobs, installing renewable energy projects and making energy efficiency upgrades.”

“The era of cheap energy is coming to an end,” said Maxson, “and it is really a question of whether we, in Kentucky, take advantage of the opportunities that exist in the clean energy economy of the future.”

The Clean Energy Opportunity Act calls for the establishment of a renewable and efficiency portfolio standard (REPS). An REPS requires utilities to obtain a small, but growing, share of their electricity from clean renewable energy and increase their energy efficiency programs. The bill would require utilities to get 12.5 percent of their electricity from renewable energy and achieve 10.25 percent cumulative savings from energy efficiency efforts by 2022.

Synapse’s study is a high level analysis of the proposed legislation’s impacts on Kentucky’s electricity bills, jobs, and economy. The study concludes that making small, but significant, steps to begin diversifying Kentucky’s portfolio over the next ten years will lower the bills of Kentucky’s residents, business owners, and industrial facilities compared to their bills without a clean energy standard.

Synapse projects that, under the REPS, average annual electricity bills could be eight to ten percent lower than under a do-nothing scenario. In addition to saving Kentuckians money, the REPS would lead to over 28,000 net new jobs over and above any jobs lost in fossil fuels and add $1.5 billion to gross state product once fully implemented in 2022.

“Efficiency and renewables are already the emerging trend in construction in the Commonwealth,” said Kentucky solar entrepreneur, Matt Partymiller, of Solar Energy Solutions in Lexington. “This report by Synapse captures what Kentucky engineers and contractors already know and what other states have already seen.

Legislation like the Clean Energy Opportunity Act will provide the tools necessary for Kentucky builders to create jobs while ensuring Kentucky energy costs stay low.”

The study’s findings are supported by what neighboring states that have passed similar legislation have experienced. North Carolina has seen tremendous growth in the number of clean energy firms operating in their state since passing an REPS in 2007. Ohio built on the strengths of its traditional manufacturing sector to start building clean energy equipment in state, and reap real economic benefits from their 2008 law.

Synapse carried out the study for the Mountain Association for Community Economic Development, a Berea-based economic development organization, and the Kentucky Sustainable Energy Alliance, a coalition of over 50 businesses, affordable housing advocates, non-profit organizations and faith-based groups.

MACED and KySEA wanted to understand the economic impacts of an REPS in Kentucky, and a comprehensive analysis of a bill like the Clean Energy Opportunity Act has not been part of the policy conversation until now.

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On January 10, 2012, beekeepers from across the country gathered at a national conference, with environmental organizations at their side, to draw attention to the growing plight facing their industry –the decline of honey bees – a problem that has far reaching implications for the U.S. economy.

“Bees and other pollinators are the underpinnings of a successful agricultural economy,” said Brett Adee, Co-Chair of the National Honey Bee Advisory Board and owner of Adee Honey Farms. “Without healthy, successful pollinators, billions of dollars are at stake.”

Many family-owned beekeeping operations are migratory, with beekeepers traveling the country from state-to-state during different months of the year to provide pollination services and harvest honey and wax. Bees in particular are responsible for pollinating many high-value crops, including pumpkins, cherries, cranberries, almonds, apples, watermelons, and blueberries. So any decline in bee populations’ health and productivity can have especially large impacts on the agricultural economy.

Honey bees are the most economically important pollinators in the world, according to a recent United Nations report on the global decline of pollinator populations.

On Tuesday, commercial beekeepers shared first-hand accounts of the value of beekeeping and of the dramatic impact of bee declines. Beekeepers estimate that one single bee kill from a pesticide exposure incident, representing 200 bee colonies, is responsible for an estimated $5 million of value to the agricultural economy. David Hackenberg, Co-Chair of the National Honey Bee Advisory Board and owner of Hackenberg Apiaries, estimates that his colonies alone generate $5 million in value over 6 months: $500,000 from California almonds in January, $800,000 from Georgia blueberries in March, $2 million from Pennsylvania apples and cherries in April, $500,000 from Maine blueberries in May, and $1 million from Pennsylvania pumpkins in June.

“If you think about it, bees and other pollinators are Mother Nature’s ultimate economic stimulus,” said Hackenberg. “Economists quantify pollination as an ‘ecosystem service’, although these figures are often unaccounted for in the traditional measures, like the GDP.”

In 2000, the last official study, the value of pollination was estimated at $14.6 million. Beekeepers suggest the number under-calculates the value of their services. They suggest the real value of their operations is $50 billion, based on retail value of food and crop grown from seed that relies upon bee pollination.

Beekeepers have survived the economic recession only to find their operations are still threatened.  Recent, catastrophic declines in honey bee populations, termed “Colony Collapse Disorder”, have been linked to a wide variety of factors, including parasites, habitat loss, and pesticides.

“The threats facing pollinators should raise concerns, as sub-lethal impacts on bees are more serious than we had initially thought,” said Dr. Jim Frazier, professor of Entomology at Penn State University. “Every time someone looks, they find something new.”

Beekeepers also noted they are partnering with environmental organizations, highlighting the threat of pesticides to the continued success of the profession and the agricultural economy. They raise special concerns with neonicotinoids, a class of systemic pesticides that is taken up a plant and expressed through the plants through which bees then forage and pollinate.

Research released last week in the journal, ‘PLoS ONE’, underscores the threat of these pesticides through a previously undocumented exposure route – planter exhaust – the talc and air mix expelled into the environment as automated planters place neonicotinoid-treated seeds into the ground during spring planting.

“Independent research links pollinator declines, especially honey bees, to a wide range of problems with industrial agriculture, especially pesticides,” said Paul Towers, spokesperson for Pesticide Action Network.

Threats to pollinators, especially commercial honey bees, concern the entire food system.  With one in three bites of food reliant on pollination, beekeepers and environmental organizations alike call out the wide-scale problem.

“Because EPA has not adequately regulated certain pesticides, the food system, including many of the foods we enjoy eating most, are at risk,” said John Kepner, Project Director for Beyond Pesticides. “We can’t afford not to take action to protect pollinators – for wallets and dinner tables alike.”

Image Courtesy of  http://www.flickr.com/photos/wohack/

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Both the FTSE 100 and Dow were expected to make modest gains by the end of 2012, according to a survey of 100 senior representatives of investment firms. The Euro was expected to deteriorate further compared to sterling, while the US dollar would increase in value. However, the majority interviewed thought that President Obama’s government had not done enough to stimulate the economy in the US.

In respect of improving business and the economy in the UK, there were calls for tax cuts both for individuals and for businesses together with the elimination of stamp duty on share purchases. A number of respondents also demanded that the government did more to simplify rules for pensions, stopped changing pension rules and improved the level of understanding of investments, particularly those which were more tax efficient, e.g. ISAs.

Those interviewed were asked to predict the best FTSE companies for capital growth in 2012. Vodafone was the most popular choice in the FTSE 100, followed closely by Barclays and BT. Balfour Beatty and Centamin Egypt featured well from selections from the FTSE 250.

A wide selection of funds were also selected. These included iShares FTSE 100 and Liontrust UK for capital growth and the Artemis and MG Optimal for income.

Other predictions included:

Inflation                                 To fall to 4.25%

Base Rates                           To remain at 0.5%

Unemployment                     Increasing to 2.75 million

Price of Unleaded Petrol      GBP1.43 per litre by 31st December 2012

The survey was carried out by financial services management consultants, Goodacre UK and sponsored by TD Wealth Institutional.

Commenting on the responses, Stephen Pinner, Goodacre’s MD, said

“The survey responses suggest that markets will remain slightly ahead of where they are now. There was a high degree of confidence that levels of inflation would reduce throughout the year although further increases in unemployment were predicted. With base rates estimated to remain so low, most of those interviewed thought that the best investment returns would come from equities and funds”.

The survey was based on personal interviews of 100 selected representatives from UK based investment companies. The survey was conducted from November through to December 2011.

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After 31 years of torture and terror, China’s One-Child Policy has finally been brought up as an important issue in a U.S. presidential race. The reference to China’s coercive birth control policy surfaced in a new 30 second “super-pac” ad entitled “Happy”. The ad points out that Newt Gingrich co-sponsored a bill that gave $60 million a year to a U.N. program supporting China’s One-Child Policy.

With so much recent research highlighting the policy’s threat to America’s security and economy, and with abortion taking its place as a top issue in the 2012 debate, many have asked why this ad is the first mention of an issue of such critical importance to millions of Americans.

“It’s becoming clear that America wants to know where its next leader stands on China, its relationship to the U.S, and its brutality towards women,” says Chai Ling, former commander-in-chief of students at the 1989 Tiananmen Square Student Movement and founder of All Girls Allowed.

She continues, “Both pro-choice and pro-life groups have interest in this issue and it should be highlighted in upcoming debates. Mothers in China are given no choice and 400 million lives have been “prevented”, according to Chinese government statistics. Unfortunately, because of son-preference, most of these lives were girls, leading to a gender imbalance that deeply affects the U.S.”

The Economist recently reported that in China, today’s unmarried young men know there are five women for every six men (largely as a result of the policy and cultural preference for sons), and tend to save money to attract a wife. Unmarried men are un-spending men, leading to artificial inflation of China’s currency. This has helped generate the current trade imbalance and daily impacts the U.S. economy.

Historically, countries with an excess of men have attacked other countries, says this Newsweek article, which first brought China’s problem to national attention.  Just weeks ago, Chinese President Hu Jintao’s call  to “prepare for war” has propelled it to national concern.

“For years, it should have mattered in national presidential debates that millions of mothers were forced to abort, and that whole villages were being sterilized in China,” says Ling.  She points to two horrific and recent stories: the killing of Ma Jihong, second-time mother (at the hands of Chinese officials) and the kidnapping of infants (by Chinese officials) for sale to U.S. adoption agencies.

“But with the danger facing America in this hour, we cannot remain ignorant.  The One-Child Policy must be brought up as an issue in the U.S. Presidential election, ” says Chai Ling.  “Everybody wants to know what is going to be done with China, and where each candidate stands on the human rights atrocity that many have deemed ‘the greatest crime ever committed against humanity.”

The economy, foreign policy and abortion are in the top 5 issues for candidates.  Questions about the One-Child Policy in China and national security are absolutely vital for each of these three categories.

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Employers expect to add new jobs in the New Year, but are waiting to see how the economy shapes up before turning up the volume on hiring, according to CareerBuilder’s annual job forecast.  Nearly one-in-four hiring managers plan to hire full-time, permanent employees in 2012, similar to 2011.

Employment trends among small businesses, which account for the majority of job creation in the U.S., are expected to show some improvement over last year.  The nationwide survey, which was conducted by Harris Interactive from November 9 to December 5, 2011, included more than 3,000 hiring managers and human resource professionals across industries and company sizes.

“Historically, our surveys have shown that employers are more conservative in their predictions than actual hiring,” said Matt Ferguson, CEO of CareerBuilder. ”Barring any major economic upsets, we expect 2012 to bring a better hiring picture than 2011, especially in the second half of the year.  Many companies have been operating lean and have already pushed productivity limits. We’re likely to see gradual improvements in hiring across categories as companies respond to increased market demands.”

Full-time, Permanent Hiring
Twenty-three percent of employers surveyed plan to hire full-time, permanent employees in 2012, relatively unchanged from 24 percent for 2011 and up from 20 percent for 2010. Seven percent expect to decrease headcount, the same as for 2011 and an improvement from 9 percent for 2010.  Fifty-nine percent anticipate no change in their staff levels while 11 percent are unsure.

Small Business Hiring

Small businesses are reporting more confidence in both hiring and retaining headcount in 2012.  Plans to downsize dropped two percentage points across small business segments while plans to hire increased two percentage points among companies with 50 or fewer employees.

• 50 or fewer employees – 16 percent plan to add full-time, permanent staff in 2012, up from 14 percent for 2011; those reducing headcount fell from 5 percent for 2011 to 3 percent for 2012
• 250 or fewer employees – 20 percent plan to add full-time, permanent staff, up from 19 percent for 2011; those reducing headcount fell from 6 percent for 2011 to 4 percent for 2012
• 500 or fewer employees – 21 percent plan to add full-time, permanent staff, on par with 2011; those reducing headcount fell from 6 percent for 2011 to 4 percent for 2012

Hiring By Region
Regional data presents a mixed picture.  Similar to annual forecasts for the last two years, more employers in the West plan to recruit new employees in 2012 than other regions.  Twenty-four percent of employers in the West reported they plan to add full-time, permanent headcount, followed closely by the South and Midwest at 23 percent and Northeast at 21 percent.

However, the West also houses the highest number of companies planning to downsize in 2012 (9 percent) – reflecting a blend of both optimism and uncertainty seen across regions.  Eight percent in the Northeast, 7 percent in the South and 6 percent in the Midwest also plan to reduce headcount.

Four Employment Trends to Watch in 2012

1 - Compensation Getting More Competitive for Skilled Positions
Employers expect compensation levels to increase for both current staff and prospective employees as recruiting for skilled talent becomes more competitive.  Sixty-two percent of employers plan to increase compensation for their existing employee base while 32 percent will offer higher starting salaries for new employees.

Among functional areas where human resource managers anticipate there will be the greatest increases in compensation at their organizations in 2012 are those tied to revenue generation.

• Sales – 24 percent of human resource managers
• Information Technology – 20 percent
• Engineering – 14 percent
• Business Development – 14 percent

2 – Voluntary Turnover on the Rise – One-third (34 percent) of human resource managers reported that voluntary turnover at their organizations rose in 2011.  Employers pointed to the desire for higher compensation and feeling over-worked as the top two reasons employees gave for resigning.  Thirty percent of employers said they lost top performers to other organizations in 2011 and 43 percent stated they are concerned top talent may jump ship in the New Year.

3 – Employers Bridging the Skills Gap by Training Employed/Unemployed – There is an increasing number of areas where demand for skilled positions is growing much faster than supply, prompting employers to take “re-skilling” workers into their own hands.  Thirty-eight percent plan to train people who don’t have experience in their particular industry and hire them for positions within their organizations in 2012.

4 – Employers Targeting Hispanic Workers, African American Workers and Women – Aware of the benefits diversity can bring to their organization, 29 percent of employers said they will be focused on recruiting diverse workers to expand their employee demographics.  One-in-five (20 percent) will be targeting Hispanic workers and African American workers to work for their organizations while the same number will be recruiting more women.  Forty-four percent plan to hire bilingual workers in 2012.

Survey Methodology
This survey was conducted online within the U.S. by Harris Interactive on behalf of CareerBuilder among 3,023 hiring managers and human resource professionals (employed full-time, not self-employed, non-government) between November 9 and December 5, 2011 (percentages for some questions are based on a subset, based on their responses to certain questions).

With a pure probability sample of 3,023, one could say with a 95 percent probability that the overall results have a sampling error of +/- 1.78 percentage points.  Sampling error for data from sub-samples is higher and varies.
About CareerBuilder

CareerBuilder is the global leader in human capital solutions, helping companies target and attract their most important asset – their people. Its online career site, CareerBuilder.com, is the largest in the United States with more than 24 million unique visitors, 1 million jobs and 45 million resumes.

CareerBuilder works with the world’s top employers, providing resources for everything from employment branding and data analysis to recruitment support. More than 10,000 websites, including 140 newspapers and broadband portals such as MSN and AOL, feature CareerBuilder’s proprietary job search technology on their career sites.

Owned by Gannett Co., Tribune Company and The McClatchy Company, CareerBuilder and its subsidiaries operate in the United States, Europe, Canada and Asia. For more information, visit www.careerbuilder.com.

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The Indian rupee continues to depreciate against the American greenback, falling to all-time low of $54.60 USD. Recently, this catapulted action by the central bank to redeem further damage to the local economy. The Indian currency fell to extraordinary lows against the dollar after the release of weaker than expected industrial output data. Since August, the currency has lost 16.6 percent of its value and has been labeled as the weakest currency in Asia.

According to Livemint.com, the performance of the rupee on a comparative basis showed a trend not observed in any of the other Asian currencies, after the U.S. downgrade by S&P on August 5. The Indian rupee has been the hardest hit among currencies of similar nature along with Asian economic linchpin, China. The Chinese renminbi lost marginally about 1.06 percent against the U.S. dollar and moved ahead of the Malaysian ringgit, which fell almost 5 1/2 percent, with the Korean won losing just 8.22 percent so far.

A currency’s external value declines when its imports weighs more than its general exports because it expands the trade gap and increases pressure on the economy as a whole. In the case of India, nearly 70 percent of its oil demand is met by imports. As a result, the plummeting currency will eventually increase import bill and will lead to a rise in oil prices and contribute to inflation.

Recently, the reserve bank of India intervened in their local market to stop the drastic and financially dangerous movement of the national currency by way of bringing some refinements to existing laws. One of the moves was to create a ceiling on foreign investment for $5 billion in government securities and equities.

The reserve bank also made it mandatory to bring back capital raised overseas and included that all forward contracts made by exporters and importers will be on the basis of delivery. It is possible that the list of restrictions have yet to be exhausted.

Durgesh Mehta, CFO Bombay Dyeing said: “I believe the RBI’s move will provide some relief and arrest further decline, but these measures alone cannot prevent rupee depreciation in the median term.”

According to Professor Amartya sSn, winner of the Noble Memorial Prize in Economics Sciences, he stated during an interaction with the press that the “depreciation of Indian rupee needs to viewed holistically and not as a train crash.”

Over the last two years, India has witnessed the trend of RBI’s addiction to failure through its battle to calm inflation. This has so-far only produced tighter monetary policies, leading to economic slowdown by increasing the cost of borrowing and nothing more than that.

Even today, stubborn inflation lives on in India after many years of fierce battle by the RBI, where-in efforts were largely focused on “Monetary Control”  measures rather than identification and elimination by other means.

The RBI has so far been a disaster when it comes to containing inflation, but with its depreciating currency, economists will be anxious to see how far this move can make a difference.

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The abundance of shale gas resources may spark a U.S. manufacturing renaissance with economic benefits that include cost savings, greater investments to expand U.S. manufacturing facilities and increased levels of employment, according to a new report released December 14 by PwC titled, Shale Gas: A renaissance in US manufacturing? .

To achieve these results, however, PwC says that manufacturers must help manage the environmental, regulatory and tax concerns created by shale gas resources.

PwC expects an estimated $11.6 billion in cost savings by 2025 by combining recent natural gas consumption levels with potential natural gas prices under high shale recovery scenarios. Additionally, manufacturing employment could increase by approximately one million workers by 2025 in high shale recovery scenarios.

“An underappreciated part of the shale gas story is the substantial cost benefits that could become available to manufacturers based upon estimates of future natural gas prices as more shale gas is recovered,” said Bob McCutcheon, U.S. industrial products leader, PwC .

He continued, “In fact, the number of U.S. chemicals, metals and industrial manufacturing companies that disclosed shale gas potential and its impact so far in 2011 easily surpassed that of the last three years combined, indicating this is of growing importance in the outlook of U.S. manufacturers.

The significant uptick in shale gas commentary among the manufacturing community reflects the positive influence that shale gas is having from investment, operational and demand standpoints.”

Resulting from production of a stable supply of shale gas, manufacturing industries are able to lower feedstock and energy costs, and are looking to shale gas as a source of growth for their own products. For example, companies that sell goods such as metal tubular products, drilling and power generation equipment should experience a near-term growth in sales as domestic natural gas production rates move higher.

“Manufacturers and communities throughout the country are beginning to see and recognize the real economic benefits of shale gas,” said National Association of Manufacturers President and CEO Jay Timmons. “Shale gas development is a bright spot in our economy and it has the potential to boost manufacturing employment by one million jobs, which are badly needed.”

Shale gas has already contributed to greater manufacturing investments in the U.S., particularly with chemical companies seeking cost advantages by using cheaper ethane, a natural gas liquid derived from shale gas, differentiating themselves from foreign competitors who rely more on oil-based naphtha.

Manufacturers outside the chemical industry have also announced expansion plans due to incremental energy resources, and plan on making investments in the U.S. based upon the opportunity to sell equipment for shale gas plays, according to PwC.

The relatively inexpensive and stable long-term source of natural gas is helping manufacturing companies expand and open more facilities in the U.S., presenting an opportunity to create more jobs in the industry.

“Lower natural gas prices resulting from incremental shale gas production have the potential to add over one million manufacturing jobs in the U.S. by 2025. The expectation of the new shale gas resource providing a significant long-term boost to move the U.S. manufacturing employment needle shines a light across the nation amid the current labor market woes,” added McCutcheon.

Environmental and regulatory concerns of shale gas resources include the rapid decline in production rates for shale as compared to conventional gas, which requires drilling more new wells to offset decline in existing wells. Also, there is a need to build out infrastructure in regions that haven’t already produced significant amounts of natural gas.

“The economic benefits to U.S. manufacturers can’t happen if shale gas is not extracted in a profitable and safe manner. To achieve these significant outcomes, manufacturing companies must effectively communicate the value that shale gas can create for U.S. workers and communities,” concluded McCutcheon.

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The word is out: jobs in North Dakota! The oil boom has drawn the attention of people throughout the country. With the economy in a poor state, many are flocking to North Dakota’s oil fields to answer the call for employment, only to find little or no housing.  The oil companies have erected camps consisting of manufactured housing, but many of them are now full.

While more accommodations are needed, the locals often oppose the construction of additional camps. With the lack of housing, people are resorting to other, more desperate, types of lodging. Many motels have been booked for several years and rentals have become harder to find. That leaves the influx of people scrambling for other forms of shelter. Numerous people have taken to living in campers or RVs, while others are living in their vehicles.

Local officials and lawmakers are worried about the newcomers that have been forced to seek unsatisfactory living environments. North Dakota winters are harsh: temperatures are as low as 2 degrees Fahrenheit, while wind chills factors can deliver sub-zero temperatures. Marna Hornung and her husband are one family that has come to North Dakota for employment. They are currently living in a camper on private property.

When asked how they are preparing for the winter ahead Hornung replied “we have put a skirting on our camper using plywood with electric heaters underneath. We have hay bales around the outside up against the wood. We heat with propane a 100 gallon tank which cost $51 to fill up. We also have an electric space heater inside the camper.”

“The money is well worth the hardships of winter that is yet to come,” she continued. “My husband is making $27.50 hour driving sand out to the wells.” What exactly is driving this oil boom? According to “Using a geology-based assessment methodology, the U.S. Geological Survey estimated mean undiscovered volumes of 3.65 billion barrels of oil, 1.85 trillion cubic feet of associated/dissolved natural gas, and 148 million barrels of natural gas liquids in the Bakken Shale Formation of the Williston Basin Province, Montana and North Dakota.”

In May of 2011 it was announced by Secretary Ken Salazar that the update of the 2008 assessment of the Bakken Formation will begin in October 2011, at the start of the 2012 fiscal year, depending on funding. What does this mean to newcomers like Hornung? It means living in their camper taking super-short showers with their six-gallon hot water heater, and braving fierce winters.

“Our plan is to stay at least 5 years, for now. If the boom goes on longer, then we will stay. If not, we will move on and go back to trucking OTR.” Hornung said. While some find the oil boom unsavory and a bad idea, to others it is a means of economic relief.  Though the hardships are many, when asked if it was worth it, Hornung replied, “Hell yes! Got to love oil!”

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The Coalition for U.S.-Russia Trade, comprised to date of more than 70 business associations, companies and agricultural groups, including  the National Association of Manufacturers and the American Farm Bureau Federation, welcomed the announcement made by the WTO’s Ministerial Conference in Geneva to formally invite Russia to become a member of the global rules-based body.

The Coalition’s task now is to work with the U.S. Congress and the Obama Administration to pass necessary legislation that makes Russia’s market concessions fully available to U.S. business and agriculture.

“Russia is the 11th largest economy in the world, yet it is still not bound by the international principles and standards of the WTO.  Today’s invitation brings Russia one step closer to abiding by and adhering to global rules.

We applaud the negotiators from the United States, Russia and other WTO members, without whose dedication and hard work this historic moment would not have been possible,” said Edward Verona, President and CEO of the U.S.-Russia Business Council (USRBC), the Washington, D.C.-based trade association that serves as Secretariat of the Coalition for U.S.-Russia Trade.

“The terms of Russia’s WTO accession agreement will provide businesses in the United States the opportunity to operate with greater transparency and predictability in the Russian market – but only once the U.S. Congress graduates Russia from the Jackson-Vanik amendment and extends Russia Permanent Normal Trade Relations (PNTR),” Verona added.

Russia’s WTO membership agreement stipulates that the Russian government must ratify the accession package by June 15, 2012.  Once the agreement is approved by Russia’s legislature and signed by the Russian President, the Russian government will notify the WTO of its approval, and 30 days later Russia will officially become a member of the WTO.

For now, the Obama Administration has invoked what is known as “non-application,” notifying the WTO that the United States cannot yet offer Russia immediate and unconditional free trade status, as WTO rules require.  Thus, Russia is not obligated to grant U.S. business and agriculture full rights to the wide range of concessions it made to become a WTO member.

Thus, while the achievement of a high-standards deal on Russia’s accession is cause for celebration, the U.S. business and agricultural communities realize their work is not done.

“We now need to help Congress understand that, without Russia PNTR, the U.S. private sector is going to miss out on growing export and investment opportunities in Russia that will create and sustain jobs here in the United States,” said Randi Levinas, Executive Director of the Coalition and Executive Vice President of the USRBC.

“The Jackson-Vanik amendment no longer provides us with leverage in our relationship with Russia.  It now stands only as an impediment for U.S. economic interests. We will be working hard in the coming months with the Congressional leadership, the committees of jurisdiction and the Administration so that U.S. interests can take full advantage of Russia’s accession in a timely fashion.

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