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In his second term as Russian president, Vladimir Putin has made the rebuilding of Russian military forces, including its nuclear striking capabilities, a top priority. Advanced missiles, bombers, and submarines are either on the drawing board or coming into operational service, just as the United States is on the verge of drastic cuts in its armed forces. Of the three legs of Russia’s nuclear triad (air, land, sea forces), attack submarines carrying [...] In his second term as Russian president, Vladimir Putin has made the rebuilding of Russian military forces, including its nuclear striking capabilities, a top priority. Advanced missiles, bombers, and submarines are either on the drawing board or coming into operational service, just as the United States is on the verge of drastic cuts in its armed forces. Of the three legs of Russia’s nuclear triad (air, land, sea forces), attack submarines carrying [...]  For the first time in its nearly 100-year history, Orlando Health is reducing its workforce by up to 400 positions starting immediately, hospital officials announced this morning. The elimination of 300 to 400 jobs will occur in two phases, and represents a 2- to 3-percent decrease in the system’s 16,000 employees, said Orlando Health spokeswoman Kena Lewis. The reductions affect all departments and all eight of its hospitals, including Orlando Regional [...] While certainly not always correct; the InTrade markets trading on the various outcomes of the Presidential have become increasingly liquid and active in recent weeks. As Morgan Stanley’s Vince Reinhart cleverly notes, by analyzing the odds for control of the Senate, the House, and the Presidential winner, one can arrive at some rather useful insights into the conditional probabilities of various tax-and-spending-related outcomes.
Critically, he notes that while Obama is a [...] From Economic Policy Journal: I have consistently pointed out that Obamacare will result, within two to three years of its implementation, in a decline in life expectancy in the United States. This is chiefly because Obamacare looks at healthcare from the macro-position of its proportion to total GDP, without allowing for individual choice. Because the structure of Obamacare will be decisions at the macro-level in a structure that will be co-opted by the [...] LAS VEGAS – The Metropolitan Police Department’s estimated $68 million budget shortfall next year has Sheriff Doug Gillespie preparing for a worse case scenario. He must find the money by April or be forced to make drastic cuts, including patrol officer positions, which are already at a bare minimum. Metro estimates it will cost about $525 million to run the department next year. They have already scrapped two police academies, closed a substation and [...] BLOOMBERG EXCLUSIVE: Economist Paul Krugman and Republican presidential candidate Ron Paul go head to head on fixing the U.S. economy at 4pm ET today on Bloomberg Television’s “Street Smart.” Tune in beginning at 3pm ET for Krugman, who will be guest-hosting “Street Smart” until 5pm ET. On the heels of yesterday’s controversial NYT piece, where Krugman called on Federal Reserve Chairman Ben Bernanke to do more for the U.S. economy, Bloomberg [...] People in Georgia aren’t blowing as big a chunk of their paycheck on the lottery as we thought. A decline in lottery revenue has pushed the state to make drastic cuts to its early education program, reports Education Week. This has led to reductions in school days, lower pay and higher teacher turnover, despite the fact the state has poured real money—$1.5 billion in the past five years—into its prekindergarten program. Of course, the Peach State [...] The front pages of three Greek newspapers in Athens on Thursday, depicting German Finance Minister Wolfgang Schaeuble, from left to right, Dimokratia “In the gas chamber,” Eleftheros Typos ”Schaeuble’s Junta” and Ta Nea ”What the Germans want”. Photo: AP From Telegraph: The regime of drastic cuts has tipped the economy into a violent downward spiral. They thought that private industry would muddle through as the state went through the austerity mincer. What the [...] From HUFFPOST: UPDATE: Greece’s parliament has approved the crucial debt bill, the AP reports. AP’s earlier story is below: ATHENS, Greece — Demonstrators set buildings ablaze and fireballs lit up the night sky in Greece’s capital on Sunday amid widespread rioting before a historic parliamentary vote on harsh austerity measures designed to prevent the country from going bankrupt. The clashes erupted after more than 100,000 protesters marched to the parliament to rally against the drastic cuts, [...] Sicily Was Under Complete Blockade by Pitchfork Movement Triggered by 40% Gas Tax Hike … by Jim W. Dean, VT Editor
Could Sicily Provide the World with a Mass Revolt Template Against Endemic Corruption? On January 16th, middle class Sicilians began a popular uprising appropriately called the‘Pitchfork Movement’…’Movimento Dei Forconi’. There are shades of the Occupy movement within it, but the core is not dissatisfied unemployed youth with no property or businesses [...] Poor Richard’s Blog On January 16th, middle class Sicilians began a popular uprising appropriately called the ‘Pitchfork Movement’…’Movimento Dei Forconi’. There are shades of the Occupy movement within it, but the core is not dissatisfied unemployed youth with no property or businesses to lose. They are middle aged and older. They know that what they have left has been targeted by their own elites to bear the economic pain. The other difference [...] Electronic Intifada There’s an astonishing piece of news in Israel’s Haaretz today under the headine “Israel allocates funds to help former IDF soldiers become sushi chefs”: Demobilized soldiers will be able to study Asian cooking this year at the government’s expense, as part of an effort to reduce the number of foreign workers employed as cooks in Asian restaurants by training Israeli professionals to replace them. It’s shocking for two reasons – one [...] Via GoldMoney.com, In this video Philipp Bagus, Assistant professor of Economics at Madrid’s Universidad Rey Juan Carlosand author of The Tragedy of the Euro, and Alasdair Macleod of the GoldMoney Foundation talk about the eurozone facing the problem that is characterised in the “tragedy of the commons” analogy. Bagus explains this phenomenon by way of an example of overfished and over-exploited oceans due to a lack of property rights on oceans. In Europe, governments run larger deficits than their [...] By Robert Powell, MarketWatch BOSTON — The world is focused on Greece and Europe, but there’s another crisis brewing that we ought not overlook. Can the supercommittee in the U.S. deliver on its marching orders to recommend a set of proposed spending cuts and revenue increases totaling $1.2 trillion over the next 10 years? The consensus seems to be that the supercommittee — the 12-member congressional committee that began [...] The new head of the International Monetary Fund (IMF), Christine Lagarde, has warned the “clock is ticking” on a deal to tackle the US deficit and raise its debt ceiling. Unless politicians agree a package by 2 August the US may be unable to pay its bills, triggering an economic crisis. On Tuesday the dollar fell against the euro whilst US shares closed down. But Ms Lagarde warned against [...] Dozens of Sheriff’s deputies could be laid off in Fresno County. The possible cuts were laid out Monday morning as Fresno County started hearings on the budget for the new fiscal year. And the cuts could impact public safety. “Now we’re at the point where we’re having to lay off sworn personnel, deputy sheriffs, if our budget continues to be cut,” said Fresno Sheriff Margaret Mims. Mims says she [...] FRESH fears that British taxpayers will be forced to pay billions of pounds more cash into European Union emergency rescue schemes were raised last night after the euro crisis deepened. Ireland’s fragile banking sector pleaded for an extra £21billion to stave off collapse yesterday while debt-stricken Portugal came under further pressure to accept a massive EU bailout. The double blow to the troubled eurozone raised concern [...] |
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