Daily Digest 9/12 - Greece Suffering 'Merciless Lashing', Local Food Pantries Almost Empty
Greece's President Karolos Papoulias urged the country's creditors Tuesday to ease their demands for more austerity, amid reports that international debt inspectors were pushing government to make tougher concessions on benefits and labor rights.
"Up until now, we've been receiving a merciless lashing," Papoulias told a delegation of visiting Canadian officials. "I think we have paid enough for our mistakes, and Europe must realize that it needs to help Greece."
The European Union and IMF agreed on Tuesday to ease budget goals imposed on Portugal under a 78-billion-euro bailout, giving Lisbon more time to meet the targets as its economy slides deeper into recession.
A "troika" of inspectors from the EU, IMF and European Central Bank said Portugal's deficit targets had been revised to 5.0 percent of Gross Domestic Product for this year, and 4.5 percent for 2013. Previously, the bailout had envisaged deficits of 4.5 percent this year and 3 percent in 2013.
According to the city's Chief of Police, there used to be 40 code enforcement officers working on blight. Now there are only 13, and it's hard to find the money for more.
"Yeah, there are fewer code endorsement people on the streets," said City Councilwoman Susan Eggman. "So we rely on the eyes of citizens and volunteers."
U.S. House of Representatives Speaker John Boehner voiced concern on Tuesday that a divided Washington may be unable to avoid a looming "fiscal cliff" at the end of this year that could push the country into a recession.
"I'm not confident at all," Boehner, the top Republican in Congress, said of the chances of success by Capitol Hill and the White House to resolve a number of fiscal issues, including expiring tax hikes for millions of Americans and automatic spending cuts, known as a sequester, totalling $1.2 trillion that will begin to go into effect in January.
Spanish and Italian banks are rushing to sell unsecured debt after European Central Bank plans to buy the bonds of financially-stressed sovereigns helped slash borrowing costs across the region.
There is a desperate need for food donations at Salvation Army centers across the Kansas City metro area.
Major Butch Frost told FOX 4 News demand for food is up 62 percent from last year. More families are out of work or struggling to make ends meet, so they are turning to local food pantries to feed their families, he said.
The problem is the Salvation Army right now only has enough food to give each needy family two to three meals.
A new report suggests tuition fees are becoming less affordable for many Canadians, forcing an increasing number of students to take on heavy debt loads.
The report from the Canadian Centre for Policy Alternatives shows that since 1990, average tuition and compulsory fees for undergraduates have risen by 6.2 per cent annually — three times the rate of inflation.
“This year’s 4 percent increase qualifies as a good year, but it still takes a growing bite out of middle-class workers’ wages, which have been flat or falling in real terms,” Drew Altman, president and chief executive officer of the foundation, said in a statement.
There are a total of 2 federally elected officials (out of 536) on the Front Line against Crony Capitalism: Senator Bernie Sanders and Congressman Ron Paul. If you are stuck seeing the world in the left-right spectrum that dominates mainstream debate in this country, this will seem bizarre. But the spectrum we should be looking at first and foremost is between honest and compromised. Ron Paul and Bernie Sanders may have different ideas about the ideal way to handle many economic issues, but they are both honest about the corrupt political economy that is undermining our democracy. In this clip, Bernie Sanders discusses how money dictates what is legislated and who gets elected.
Throughout Asia, although gold investing is seemingly prevalent and a culturally accepted phenomenon, one must always ask the direct question...
Do you own paper gold OR physical gold ?!
In a 2011 paper, researchers at the Complex Systems Institute unveiled a model that accurately explained why the waves of unrest that swept the world in 2008 and 2011 crashed when they did. The number one determinant was soaring food prices. Their model identified a precise threshold for global food prices that, if breached, would lead to worldwide unrest.
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