Daily Readings 07-29-2011

By: admin
Published: July 29th, 2011

China’s economic miracle may be about to come off the rails

Largely invisible to a radar screen dominated by concerns over the US and eurozone debt crises, the Chinese economic miracle, one of the few apparent bright spots that remains in a world beset by trouble, has in recent weeks also been showing unnerving signs of strain. Indeed, it may even be about to come off the rails entirely – quite literally.

Friends Don’t Let Friends Become Chinese Billionaires

China Daily reported Friday that unnatural deaths have taken the lives of 72 mainland billionaires over the past eight years. (Do the math.)

Which means that if you’re one of China’s 115 current billionaires, as listed on the 2011 Forbes Billionaires List, you should be more than a little nervous.

Mortality rate notwithstanding, what’s more disturbing is how these mega wealthy souls met their demise. According to China Daily, 15 were murdered, 17 committed suicide, seven died from accidents and 19 died from illness. Oh, yes, and 14 were executed. (Welcome to China.)

Amid Debt Battle, More Americans Say Economy Getting Worse

Seventy-three percent of Americans in Gallup Daily tracking over the July 22-24 weekend say the U.S. economy is getting worse. This is up 11 percentage points from the three days ending July 6, and the worst level for this measure since the three days ending March 12, 2009.

Why the Debt Crisis Is Even Worse Than You Think

If Washington is deadlocked now, how will it deal with the much bigger debt problems that lurk in the decades to come?

U.S. will pay for half of all health care costs by 2020

The U.S. government will foot the bill for half of all health care costs in the United States by 2020, according to a government report released Thursday.

Gov’t: Health tab to hit $4.6 trillion in 2020

Government experts say the nation’s health care tab is on track to hit $4.6 trillion in 2020, accounting for about $1 of every $5 in the economy.

Which Is in Worse Shape, U.S. or Europe?

In the near term, the Europeans have the bigger problem – and this will only be compounded by slower growth in the United States (home to about one-quarter of the world economy). Over the longer haul, it remains to be seen when and how politicians in the United States will take up the real budget issues.

Container-Ship Plunge Signals U.S. Slowdown

Plunging rates for chartering container vessels that carry sneakers, furniture and flat-screen TVs may signal a U.S. consumer slowdown and losses for shipping lines in what is traditionally their busiest time of the year.

Is the President in Recovery?

Can Obama break his addiction to deficit spending?

CME Group calls tax situation ‘untenable;’ says it may exit state

CME Group Inc. is evaluating whether to move some operations to other states from Chicago to reduce its taxes, but it has not decided on an exact timeline, CEO Craig Donohue said Thursday.

New NASA Data Blow Gaping Hole In Global Warming Alarmism

NASA satellite data from the years 2000 through 2011 show the Earth’s atmosphere is allowing far more heat to be released into space than alarmist computer models have predicted, reports a new study in the peer-reviewed science journal Remote Sensing. The study indicates far less future global warming will occur than United Nations computer models have predicted, and supports prior studies indicating increases in atmospheric carbon dioxidetrap far less heat than alarmists have claimed.

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