30 Aug
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30 Aug
Monday, March 1, 2010
A major storm system has swept through Spain, Portugal, and France over the weekend, killing more than 50 people, and leaving nearly a million without power.
The storm system, named Xynthia, has moved from Portugal north through Spain and coastal France, and is expected to reach northern Europe, including Denmark, by Sunday evening. According the French Interior Ministry, at least 47 people have been killed in France alone, with around 60 injured. Additionally, five are dead in Germany, three are dead in Spain, and one dead in each of Portugal, Belgium, and England. French Interior Minister Brice Hortefeux said that the death toll would likely rise, with around 30 people still missing.
According to the French utility EDF, nearly a million homes in France are without power, largely around Brittany and central France. Full restoration of power is not expected until Wednesday. Several towns on the French coast have been flooded, with more than a meter of water on the streets in some areas. The storm produced winds upward of 100 mph and waves up to 26 feet high. Effects of the storm reached inland to Paris, where nearly 100 flights were canceled and a terminal of Charles de Gaulle Airport was severely damaged. Rail transport was also affected, with tracks flooded in both Spain and France.
In the United Kingdom, flood warnings have been issued for most of Britain, and warnings for severe flooding that was possibly life-threatening were issued for parts of Cambridgeshire. In London, barriers on the Thames River were raised in order to reduce the potential for flooding. The storm was expected to affect southern regions of the country as it moved northeast towards Scandinavia.
In a statement, French president Nicolas Sarkozy expressed his condolences to those affected, and sent France’s interior minister to the areas most affected to co-ordinate a response. According to Prime Minister Fillon, the storms were a “national catastrophe.” On Monday, the French government officially declared the storms a national disaster, which will allow funds to be released to help affected areas rebuild.
30 Aug
Wednesday, February 11, 2009
American Major League Baseball third baseman Alex Rodriguez, a star player for the New York Yankees, admitted in an interview on sports network ESPN that he used performance-enhancing drugs during 2001 through 2003.
“I did take a banned substance, and for that, I’m very sorry,” Rodriguez told ESPN’s Peter Gammons. “When I arrived at Texas in 2001 I felt an enormous amount of pressure to perform.”
| I did take a banned substance, and for that, I’m very sorry. | ||
Last week, Sports Illustrated reported that the baseball player, nicknamed ‘A-Rod’, tested positive in 2003 for Primobolan and testosterone, two substances that have been banned by the league.
During the 2003 season, Rodriguez was playing with the Texas Rangers, and was the winner of the American League MVP Award and was American League leader in home runs. According to sources, Rodriguez was one of 104 players named on a list for testing positive before the 2003 season. The list was compiled in an attempt to determine whether the MLB needed to begin conducting random drug testing.
After the initial report Rodriguez was approached by Sports Illustrated while he was training for the upcoming season in a Miami area gym. At that time, Rodriguez told the reporter “You’ll have to talk to the union.” He was also asked for an explanation of his positive test result, to which he commented “I’m not saying anything.” According to a report by ESPN, sources claim that Rodriguez was aware that he tested positive for performance-enhancing drugs.
However, in December 2007 after United States Senator George J. Mitchell‘s Mitchell Report was released accusing such teammates of Rodriguez as Roger Clemens, Jason Giambi and Andy Pettitte of steroid use, Rodriguez appeared on ABC’s 60 Minutes and declined the use of any steroid or performance-enhancing drug. He also commented that he would not need the help of steroids, stating, “I’ve never felt overmatched on the baseball field. I felt that if I did my, my work as I’ve done since I was, you know, a rookie back in Seattle, I didn’t have a problem competing at any level.”
Senator Mitchell stated in a prepared comment yesterday that his report had only named that players that “had received credible evidence of their illegal purchase, possession, or use of performance enhancing substances.” He pointed out that he “did not have access to the results of the 2003 drug testing, and to this day I do not know which players tested positive then.”
The MLB declined to comment directly on the situation due to court orders on the list of names and documents, but did release a statement: “Information and documents relating to the results of the 2003 MLB testing program are both confidential and under seal by court orders. We are prohibited from confirming or denying any allegation about the test results of any particular player by the court orders. Anyone with knowledge of such documents who discloses their contents may be in violation of those court orders.”
| I did not have access to the results of the 2003 drug testing, and to this day I do not know which players tested positive then. | ||
Rodriguez has been one of the many prominent American baseball players over the past few years who has been linked to the use of performance-enhancing drugs. Other prominent names include both the arguably greatest hitter and pitcher in Major League Baseball history, Barry Bonds and Roger Clemens. Bonds, the all-time Major League record holder for home runs, was linked to steroid use during the BALCO scandal in 2003, while Clemens was named in the Mitchell report in December of 2007.
The executive vice president for labor relations of Major League Baseball, Rob Manfred, stated that league commissioner Bud Selig was “disturbed” by the linking of steroid use to Rodriguez. Commenting for the league, he said, “Because the survey testing that took place in 2003 was intended to be non-disciplinary and anonymous, we cannot make any comment on the accuracy of this report as it pertains to the player named.”
The report by Sports Illustrated also made the claim that Gene Orza, the COO of the Major League Baseball Players Association informed Rodriguez of a random drug test that occurred in September of 2004, a test that was supposed to remain confidential to all players. The MLBPA denied the accusations, commenting “There was no improper tipping of players in 2004 about the timing of drug tests. In September 2004 MLBPA attorneys met with certain players, but we are not able to confirm or deny the names of any players with whom we met.” When asked in the Sports Illustrated report, Orza declined to comment, stating “I’m not interested in discussing this information with you.”
| There was no improper tipping of players in 2004 about the timing of drug tests. | ||
The anonymous testing of players was started in 2003 by the MLB, in order to get a brief estimate of how many players were using performance-enhancing drugs, leading to the beginning of the mandatory, penalty-enforced testing that began in 2004. 1,198 players took the “survey test” in 2003, and the results were later stored in a laboratory in Las Vegas, with codes being used in place of the players names. However, a list of the players actual names that went with the list of codes was kept in a separate office in Long Beach, never intended to ever be together with the codes.
In April 2004, federal agents with search warrants raided the two labs looking for information on the 2003 BALCO scandal test results of 10 players, including Barry Bonds. While searching, they found both the list of names and the codes, including the positive test result of Rodriguez. Following the investigation and raid, the MLBPA informed all 104 players on the list that their positive test data had been sized by the federal agents.
| I said in my book Vindicated that he was a known steroid user before 2000. It’s old news. I’ve been saying this forever. You guys are playing catch-up. | ||
Former Major League Baseball star and self-confessed steroid user José Canseco told the media that the news was old, saying “I said in my book Vindicated that he was a known steroid user before 2000. It’s old news. I’ve been saying this forever. You guys are playing catch-up.” In the book, Canseco links Rodriguez to steroids through the claim that he saw him using the drugs. In his first book, Juiced, references to Rodriguez were removed by the publisher of the book because it could not be confirmed that Canseco actually saw Rodriguez taking steroids. According to the publisher, it was only after Canseco passed a lie detector test that information about Rodriguez was allowed into Vindicated.
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What do you think the positive test says about steroid use in baseball today? Does the test result affect the way you view Rodriguez’s accomplishments as a player?
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Current senior advisor to the Texas Rangers John Hart commented on the situation in an interview with MLB Network. “I think in the climate that we have today, you don’t have much shock anymore. Obviously Alex probably is the best player in baseball. This has always been a special talent and the guy has been putting up Hall of Fame numbers since the day he showed up in the big leagues. I’ve been in the game for almost 40 years and it hurts a little bit, if in fact this is true. It breaks my heart for the game that we have this kind of thing occurring, But at the same time, a lot of people seem to have been caught in this net,” he said.
Since the positive test occurred in 2003 before penalties were instituted, Rodriguez will most likely not be suspended by the MLB as a result of the situation.
29 Aug
Submitted by: Reva Disuja
Bollywood is the name given to the most loved and appreciated film industry of the world, The Indian Film Industry . Bollywood produces more than 1000 movies a year; this testifies the massive development this industry has witnessed over the recent past. The love for Bollywood has resulted in huge fan following. Several Hindi movie lovers are eager to know about latest bollywood happenings like new bollywood film releases, latest Hindi song videos, actor interviews etc.
Filmfare is a known brand in the Indian Film Industry. Since past many decades this celebrated magazine has served the interests of several bollywood fans. From latest bollywood happenings and actor interviews to film reviews and videos, Filmfare has always complemented the mounting craze for bollywood. It is one of the earliest filmy magazines in India to offer concerned audiences interesting facts and news about the much loved Indian cinema. Fimlfare awards hosted by the reputed magazine are the most awaited awards of the year and are attended by the entire industry that look and perform their best at the event! And now as a consequence of the massive development of information technology and increase in the number of online audiences, Filmfare now showcases interesting bollywood stories and reveal secrets!! On its online portal that is visited by numerous fans of the largest film industry of the world, Bollywood !
The Indian Film Industry is known for the glamour, vibrancy and enthusiasm showcased in its movies. These colors can be witnessed in the songs and dances featured in Hindi films. The dances are full of zeal and zest and the foot tapping music can make anyone dance to the tunes! The songs, dances and music are the life of an Indian Film. The latest Hindi song videos are extremely popular among the masses and are viewed in large scale. The delightful music of bollywood movies has transformed over the years in accordance to the public demand. This popular industry has also legendary musicians including singers, music directors, lyrists etc. Filmfare showcases latest Hindi Song Videos for entertaining online viewers. These vides are recognized and appreciated immensely.
Furthermore, new bollywwod film releases are another area of interest for Hindi Movies fans. Apart from helping viewers decide which movie to watch from numerous other films released every Friday, these reviews also give a detailed description of technical and non-technical aspects of a film. New bollywwod film releases in filmfare discuss the movie in context to its music, direction, photography, choreography, acting and much more. Reading a film review is extremely intriguing and exciting.
Filmfare is a one stop solution to all filmy gap shup and bollywood happenings. So next time you drink your cup of coffee make sure you have a Filmfare in your hand!
Stars rise and stars fall. The rise is infused with buzz, excitement, hype and could be meteoric or it could be the kind that comes in quietly through the side door and surprises you. This happens every year. Stars are born and new talent is thrown up to impress us. Not all are necessarily superstar material but they definitely make a film what it is. In unforgettable supporting roles or any other label that is available. Talent as we have come to understand, turns up in all shapes, sizes and sorts. We at Filmfare have handpicked a few that we think will make a definite mark in the years to come, if they haven t already. They could be the obvious ones groomed for stardom or they could be the dark horses, the ones we weren t really prepared for. So you have a Ranveer Singh, Shraddha Kapoor, Swara Bhaskar and Rajat Barmecha for instance in this roster. Different kinds of debuts, different career trajectories. Yet the one thing that binds them is their talent and their intrinsic ability to grab eyeballs.
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28 Aug
Wednesday, January 13, 2010
The U.S.-based multibillion dollar online search engine, Google Incorporated, has announced Tuesday in a public statement on its official blog that the company has been the victim of a “highly sophisticated” and “targeted attack” against their corporate infrastructure that they allege “originated from China.”
The author of said statement, David Drummond, Google’s Senior Vice President of Corporate Development and Chief Legal Officer, noted that Google was not the only multinational corporation targeted. “As part of our investigation we have discovered that at least twenty other large companies from a wide range of businesses—including the Internet, finance, technology, media and chemical sectors—have been similarly targeted.” The names of these other corporations in question have yet to be released. To this end, Google states that they are “currently in the process of notifying these companies,” and they are cooperating with the “relevant authorities.”
Drummond goes on to say that through a separate and unrelated investigation, Google has additionally discovered that the accounts of “dozens” of Gmail users worldwide who are “advocates” of political and human rights in China “appear to have been routinely accessed by third parties” as well.
However, he affirms that “…these accounts have not been accessed through any security breach at Google, but most likely via phishing scams or malware placed on the users’ computers.”
As a result of what has occurred here, Google said it has already made significant changes to the security infrastructure of its users’ accounts as to prevent something like this from ever happening again.
At the same time, Google advised individual users to use more discretion while online, “We would advise people to deploy reputable anti-virus and anti-spyware programs on their computers, to install patches for their operating systems and to update their web browsers. Always be cautious when clicking on links appearing in instant messages and emails, or when asked to share personal information like passwords.”
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Do you think Google should exit the Chinese market?
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| We have decided we are no longer willing to continue censoring our results on Google.cn…We recognize that this may well mean having to shut down Google.cn, and potentially our offices in China. | ||
Google launched its Chinese-language search engine, Google.cn, in January 2006. The only precondition to operating in China was that the company had to acquiesce to certain censorship demands from the one-party government. When defending their controversial rationale for operating in the socialist republic, Google said “…that the benefits of increased access to information for people in China, and a more open Internet outweighed our discomfort in agreeing to censor some results.”
Nevertheless, Google has still been widely criticized for this voluntary censorship of search results of topics, such as the Tiananmen Square protests of 1989, movements for Tibetan and Taiwan independence, and the Falun Gong religious movement along with other information considered harmful to the Chinese government. Some feel it goes against and is hypocritical of Google’s informal motto, “Don’t be evil”.
In response, a spokesperson for the Chinese Consulate in New York City, Wenqi Gao, said in a phone interview to The New York Times, “I want to reaffirm that China is committed to protecting the legitimate rights and interests of foreign companies in our country.”
In contrast, Sharon Hom, the executive director of Human Rights in China said, “It’s a wakeup call for the international community about the risks of doing business in China. The tendency has been for companies to keep their eye just on the benefits of doing business. But the risks are real—The risks are to our intellectual property. The risks are to our values.”
Analysts noted that this move has the potential to financially hurt Google, which has a somewhat limited share of the Internet search market in China, which is dominated by the Chinese-based Google-like website Baidu. Google’s shares fell just under two percent after hours to US$579.50. Meanwhile, Baidu shares rose five percent to US$406.
Harvard Business School professor David Yoffie said, “The consequences of not playing the China market could be very big for any company, but particularly for an Internet company that makes its money from advertising.”
“It will hurt their profits. They get eight to ten percent of their revenues from China,” said Trip Chowdhry, an analyst for Global Equities Research. “If they walk, they will eventually be invited back into China, because the Chinese people will request that. Openness always wins, but it will take some time.”
Tim Ghriskey, the chief investment officer for Solaris Asset Management said, “Clearly not good news for Google and clearly not good news for consumers. You’ve got to think that eventually Google figures out a way to deal with this. If they do have to shut down their Chinese operations, that they would be able to reinstate them. Hopefully soon. I can’t imagine that this would be permanent.” He added, “China is a great growth engine for every business. It is a great opportunity for Google as well.”
In response to all that has happened and what has been said, Drummond explains that this has “led us to conclude that we should review the feasibility of our business operations in China.”
He goes on to state, “We have decided we are no longer willing to continue censoring our results on Google.cn, and so over the next few weeks we will be discussing with the Chinese government the basis on which we could operate an unfiltered search engine within the law, if at all. We recognize that this may well mean having to shut down Google.cn, and potentially our offices in China.”
Drummond concludes his statement by trying to assuage the situation the best he can, “The decision to review our business operations in China has been incredibly hard, and we know that it will have potentially far-reaching consequences…We are committed to working responsibly to resolve the very difficult issues raised.”
27 Aug
Friday, June 9, 2006
Someone said to be an informant within Abu Musab al-Zarqawi‘s trusted circle told Coalition forces the insurgent leader was going to have a meeting, it has emerged. This information appears to have led US F-16Cs to a safehouse in the Iraqi town of Hibhid, where the Jordanian and five others, including a child, were killed on Wednesday.
“We had absolutely no doubt whatsoever that Zarqawi was in the house. There was 100 percent confirmation,” Caldwell said.
The informer is said to want the insurgency to pursue a strategy within the Iraqi political process, which in the informer’s view was in contrast to tactics executed by al-Zarqawi’s leadership that involved ethnic killings.
It was one of the last in a long line of breadcrumbs leading the hunt for the Iraqi government’s most-wanted murderer to the doorstep of an attractive isolated house in Hibhid.
In a late-April video al-Zarqawi had been shown spraying bullets from a machine gun with a horizon in the background. This is said to have revealed the general location of al-Zarqawi, found near Diyala province, in the north east of Iraq. The ethnically mixed region had seen an upsurge in violence and over days preceding the airstrike.
Murders had included a number of decapitated heads left in fruitboxes. Al-Zarqawi had been known for kidnapping and video beheadings of westerners in Iraq.
Another al-Zarwaqi insider also had given vital clues to the investigators before the final tip-off. A former customs clearance officer in Rutba identified as Ziad Khalaf al-Karbuli had named Sheikh Abu Abdul-Rahman as al-Zarqawi’s spiritual advisor and gave-up contact details.
Ziad Khalaf al-Karbuli had appeared on Jordanian television, May 23, to confess his links to al-Zarqawi, and to his murder of a Jordanian driver and his kidnap of two Moroccan embassy employees in 2005. The vital clue about Abu Abdul-Rahman was not broadcast.
With details from the al-Karbuli interrogation the gunsights got closer to al-Zarqawi. “Through painstaking intelligence effort, they were able to start tracking him, monitoring his movements and establishing when he was doing his link-ups with Zarqawi, ” Maj. Gen. William Caldwell said of the investigators.
The US search for the Sheikh included the use of remote controlled aircraft, it was revealed.
However; it is said neither the al-Karbuli information nor the al-Zarqawi betrayer lead the Americans to press the fire button on al-Zarwaqi’s two-story home. Al-Zarqawi was hard to catch because he reportedly eschewed trackable cell-phones in favour of high-tech Thuraya-made satellite phones to communicate.
The death certificate was signed by the secret informant who said both Sheikh Abu Abdul-Rahman and al-Zarqawi would be in Hibhid, Wednesday night.
For the elusive insurgent who had previously escaped attempts to bomb him, the execution came after comparison of this source’s information with tracks of the location of satellite phone users.
The location found was beside a property with a courtyard surrounded by fields away from other buildings. It appears then the US command made the decision to strike at an address in the small town, near Baqubah.
US special forces were on the scene to photograph the dead al-Zarqawi at 6:17 p.m., two minutes after two 500lb bombs were dropped. Al-Zarqawi was said to be alive and being given medical assistance when he died of wounds sustained in the bombing.
The announcement of the killing was made Thursday by Iraqi Prime Minister Nouri Maliki. Iraqi Prime Minister Nouri al-Maliki said to viewers of Iraqi television the $25 million bounty for information leading to the death or capture of al-Zarqawi would be “honored.”
26 Aug
Wednesday, April 1, 2009
The United Stated Department of Justice has asked for corruption charges against former Alaska Senator Ted Stevens to be dropped because evidence was withheld from the defense team by the original prosecutors. The Justice Department has stated that they will not retry Stevens.
In a statement, US Attorney General Eric Holder said, “After careful review, I have concluded that certain information should have been provided to the defense for use at trial. In light of this conclusion, and in consideration of the totality of the circumstances of this particular case, I have determined that it is in the interest of justice to dismiss the indictment and not proceed with a new trial.”
Stevens was convicted in October on seven felony counts of lying on senate disclosure forms about gifts, largely in the form of free renovations to his home, received from an oil service company; his conviction is thought to have been a large factor in his November electoral defeat to former Anchorage mayor Mark Begich, the current junior Senator from Alaska. Stevens immediately appealed his conviction and has maintained his innocence.
The prosecution case has met with a number of procedural difficulties, with US District Court judge Emmet G. Sullivan holding the prosecution in contempt in March for failing to turn over documents concerning an FBI whistleblower’s reports of mishandling of the case. The Justice Department has since replaced the case’s prosecutors, and the allegations of misconduct have held up sentencing from the original convictions.
The filed papers indicate that notes were never turned over from an interview that has the oil contractor estimated the house renovation for far less then he specified at trial.
The original trial team was removed, but in the end Attorney General Eric Holder thought it would be best if the case was dropped. NPR’s source indicate that Holder wish to forcefully transmit that prosecutorial misconduct will not be tolerated. The trying prosecutors are under investigation by the Justice Department for their conduct in the matter.
Stevens, now 85, served as Alaska’s Senator from 1968 to 2009.
25 Aug
Adding Uniqueness to Your Home
Lots of people that paint their home usually only go with one color around the whole place. This is considered unoriginal and bland by some, and can often make your home look unappealing. However, painting every single room individually, and doing so with different colors nonetheless, is a great means of adding a sense of uniqueness to your house.
This uniqueness also provides an element of beauty that most visitors will often admire. Not only will you be giving your living quarters a complete makeover, you’ll be giving them a unique one which greatly boosts their appearance. This is partly the reason why painting each room is so important.
Give Every Room a Different Feel
It won’t just be your house that gets a unique look to it when you paint each individual room. The individual rooms will obviously have unique looks of their own, and most importantly they’ll have entirely new and unique feels to themselves.
This unique feel is a huge plus as it makes you feel like you’ve stepped into an entirely new space whenever you walk from one room to another. You’ll enjoy living much more in your own house thanks to this, and the blend of different colours can look really beautiful if executed correctly.
Personalize Your Home in Your Own Way
One of the best things about painting all the different rooms in your home is that you can provide each and every individual corner of the home with a new beautiful look. The best part about this look is the fact that you get to decide how it looks.
This means you can give each individual room the change in color that you’ve always wanted to give. Once your house and each specific quarter of it is personalized to your own liking, you’ll find your own home much more attractive.
21 Aug
A compilation of brief news reports for Thursday, May 22, 2008.
Transport workers in France began a strike on Thursday to protest changes in the state’s pension system. Almost 300,000 people took part in marches. Public transport was reported as being hobbled by Associated Press. Union officials say that 700,000 people took part in the work stoppage, which also reduced postal deliveries and even normal programming on state-run radio.
Sources
Lou Pearlman, the American music mogul behind Backstreet Boys and N’Sync was sentenced on Wednesday to 25 years in prison on charges of money laundering, conspiracy and making false claims in bankruptcy court. He received the maximum sentence for swindling US$300 million from investors. He can have his sentence reduced if he is able to reimburse the victims.
Sources
21 Aug
Submitted by: Neil T Thompson
There was a time and it wasn t all that long ago when a Middle Class lifestyle wasn t just obtainable; it was downright easy to be a member. Really, all you needed was an average job, and you were in a home, a nice car, occasional dinner out, color TV, an annual vacation, and a pension for when you got older.
Obviously, those days are gone, so I don t want to wax poetically about nostalgia and why can t we bring them back, etc. But I do want to point out the two reasons those days have left us, and I d like to expand on one of those reasons:
The most obvious reason for the end of the one average job s paycheck can raise a family is that the economy changed. Expenses outpaced wages, and many of those jobs (manufacturing, etc) are gone. And they won t come back. Forget relying on the government and waiting for good times to come back they aren t.
The second reason, however, is one that doesn t get as much play, because it s personal, and it hurts a little. And that reason is simply this: WE VE changed, and we want more, because there is more. Many families cannot make it on their salary not because food and shelter cost too much it s because of all the other stuff.
I d like to expand on this last point somewhat, and discuss how a return to frugality can help.
To start, what really changed in terms of what we buy and what s available? Well, the answer is, everything changed. There s so much more available to us now, and more importantly, many more things that are an almost expected part of everyday life (cellphones for the entire family, anyone? There s something a 1970 s era family never had to pay for.)
We want the food and shelter and automobiles that people used to have, but we also want a flatscreen TV in every room, cellphones for all, birthday parties for kids that run into the hundreds and even thousands, satellite radio, DVD s (every child I know has a personal DVD collection of Disney and Pixar films), and more. Plus, we want more space the average house is far bigger than one just thirty years ago. The great room is now part of our vocabulary.
We ve added and added to our lives, at a pace that far exceeds salaries. This is why the credit card bill is a monthly staple. We want more life than we can afford. And it s why many people find themselves in trouble.
I mentioned earlier that this hurts , and it s why this reason doesn t get much press. Nobody wants their kid to be the only one without a cellphone. Or without Toy Story 1, 2, and soon even 3 on DVD. Or without cable TV (on a flatscreen). I ve personally known parents who stressed about paying the heating bill turn around and buy their son a new Xbox that same week! This sort of thing happens more than you think. And it s insane.
Here are a few stats:
One in nine families can’t make the minimum payment on their credit cards.
One in eight mortgages is in default or foreclosure.
One in eight Americans is on food stamps.
More than 120,000 families are filing for bankruptcy every month.
*(source: Elizabeth Warren’s, “America Without a Middle Class.”)
Ok, how do we fix this?
I co-founded and run a website called The Daily Middle (www.thedailymiddle.com), where we explore the global economy and how it specifically relates to the middle class (typically individuals or couples making between $40,000 and $120,000 per year) here in the U.S.
The Daily Middle relies on those experts who saw this Greater Depression scenario starting to play itself out years ago experts like Peter Schiff, Jim Rogers, Dr. Marc Faber, Gerald Celente, Ron Paul, David Walker and Nouriel Roubini.
In my research, I run across articles, videos, stats and quotes all day long. And my advice in this case can be summed up with following two quotes I find particularly meaningful:
“One does not accumulate, but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs towards simplicity.” – Bruce Lee
“It was hardly an exaggeration to say that the American standard of living was bought on the installment plan.” – Historian Daniel Boorstin
You see where I am going here, right? For many families, fixing their economic situation can be as simple as saying no . Right now, the average American family s net worth (adjusted for real inflation) is at 1970 levels. Take a look at a family in 1970 and see what their expenses were it may sound drastic, but that s kind of where you need to be if you want the same economic lifestyle. Ok, pay the internet bill, but does everyone in the family really need a cellphone? Or cable TV? Do gifts have to be charged? These are all places to start and yes, living frugally means sacrifice and a change of mindset.
Now, for those of you who are waiting for some Government magic, let me dispel that right now:
The official National Debt has just surpassed $13 Trillion (not including the massive debts of Freddie Mac and Fannie Mae which are backed up by the Federal Government, estimated at $6.3 Trillion.)
Our Unfunded Liabilities (Social Security/Medicaid/Medicare) are approximately $60 Trillion
Our National Debt is now growing 3 times faster than decades ago
We are the world’s largest debtor nation with a National Debt that is 14 times larger and 89% of GDP (not including Fannie/Freddie debts and unfunded liabilities.)
We are in deep, deep trouble, and if you think things are going to turn around, you are mistaken.
To me, there s really only one solution, and that s to live below your means and return to frugality. If it requires giving up a few things that others are paying on credit for, so be it. If it requires cutting coupons, buying off-brand merchandise, well, that s what it takes. If it requires a combination of both, fine. But being frugal and living below your means does not just help you today it will allow you to weather almost any economic storm.
But being frugal isn t always easy. It takes a good, objective look at everything you are spending money on, and it requires hard choices to be made. It s not just cutting out a latte every day. It might mean your child doesn t text his or her friends, because the
pay as you go cell phone is for emergencies only. And that s ok.
We hope you will join us at The Daily Middle for our daily dose of reality to keep your feet firmly planted on the road back to frugality.
Are you living a frugal life? Do you have any tips for your fellow readers? If so, we would love to hear them. And if you re not living the frugal life, are you ready to start?
About the Author: Mr. Neil Thompson is a professor of economics in one of the famous US Universities. He has interest and a vast knowledge in US economy. He has attended many seminars and conferences on US and World Economy. Daily Middle (
thedailymiddle.com
) is a site where one can get information on US economy
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