Daily Digest 2/11 - Greece Gets Approval For 2nd Bailout, The Fallen EU Leaders, Treated Wastewater Coming To A Tap Near You
- India Explores Economic Opportunities in Iran, Denting Western Sanctions Plan
- Papademos Gets Cabinet Approval for 2nd Bailout
- So What SHOULD Investors Buy In A World Fraught With Risk?
- America’s Addiction To Debt: 30 Facts About Debt In America That Will Blow Your Mind
- Of Jobs, Debts And Budgets
- The Fallen
- The Myth of Energy Independence: Why We Can't Drill Our Way to Oil Autonomy
- As ‘Yuck Factor’ Subsides, Treated Wastewater Flows From Taps
It was unclear whether Mr. Rompuy knew at the time of the interview that India’s commerce secretary, Rahul Khullar, was about to announce a big economic push into Iran that could serve to counteract the effects of the very sanctions Mr. Rompuy has helped to promote.
“The social cost this program implies will be limited compared to the economic and social catastrophe that would follow if we don’t adopt it,” Papademos told his ministers earlier, according to an e-mailed transcript of his comments. “The completion of the program and financial support will cement our country’s future in the euro area.”
You could chase junk bonds because they offer higher yields. But that means you’re taking on significant credit risk. You could buy emerging-market bonds, also because of their higher interest rates. But then you’re taking on the risk that those countries’ stocks, bonds and currencies will suffer from slowing global economic growth.
Debt slavery is destroying millions of lives all across this country, and it is imperative that we educate the American people about the dangers of all this debt.
The following are 30 facts about debt in America that will absolutely blow your mind...
Of Jobs, Debts And Budgets (jdargis)
November 2011 was a bad month for consumers: evolving debt went up more than eight percent (the largest month-to-month percentage increase since 2008) and this dubious accomplishment was accompanied by the biggest month to month growth in overall consumer debt since 2001. December’s consumer credit debt increased $19.3 billion to $2.5 trillion. This rise in credit card debt was the fourth month in a row card balances grew.
The Fallen (jdargis)
Haarde was succeeded by Jóhanna Sigurdardóttir, the country's first female prime minister and the world's first openly gay elected head of government. After a dismal couple of years -- gross domestic product (GDP) contracted 9.6 percent in 2009 -- the bleeding now appears to have stopped, with growth projected at 2.5 percent for this year. A fierce debate over whether to join the European Union is likely in the coming year.
There are plenty of good reasons for the optimism. With the development of its massive shale deposits, the United States has become the world's single largest producer of natural gas. We're so awash in it that domestic prices have plummeted to historic lows. Advances in drilling technology have also made it possible to access hard-to-tap "tight" oil reserves in states such as North Dakota. Analysts believe those fresh crude sources could yield 2.9 million barrels of oil a day by 2020, up from 900,000 today. Meanwhile, cars are getting more efficient, and fuel use has dropped after soaring during the last decade, which frees up more energy production for export. According to Bloomberg, the U.S. is already getting 81% of its energy from domestic sources, the largest share since 1992, and up 10 percentage points since 2005.
For most of the four decades beginning in 1970, the arid West was the fastest-growing region in the country; the population of Nevada quintupled in that period while Arizona’s nearly quadrupled. Continued population growth, unmatched by growth in water storage capacity, makes this a “new era in water management in the United States,” the science group’s report said.
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