The average wage, calculated by the International Labour Organization, is published here for the first time. It’s a rough figure based on data from 72 countries, omitting some of the world’s poorest nations. All figures are adjusted to reflect variations in the cost of living from one country to another, and as Ruth Alexander of BBC radio’s More or Less programme underlines, it’s all about wage earners, not the self-employed or people on benefits.
You don’t have to do much interpreting of the Federal Reserve chairman’s speech yesterday to draw that conclusion. The guy, to his credit, was mostly honest (and probably more than a little bit frustrated) when he spoke before the National Association for Business Economics Annual Conference.
Milton Friedman may have argued that there is no such thing as a free lunch, but you’d have a hard time convincing millions of Americans of that today. They know better – or at least they think they do.
Colleagues describe Roger as a collection of contradictions. A chain-smoker who spends countless hours on a treadmill. Notoriously surly yet able to win over enough support from subordinates and bosses to hold on to his job. He presides over a campaign that has killed thousands of Islamist militants and angered millions of Muslims, but he is himself a convert to Islam.
On Sunday, the United States gets a distinction no nation wants — the world’s highest corporate tax rate.
Japan, which currently has the highest rate in the world — a 39.8% rate on business income between national and local taxes — cuts its rate to 36.8% as of April 1. The U.S. rate stands at 39.2% when both federal and state rates are included.
The sluggish implementation of the Dodd-Frank financial reform law has made it “impossible” for businesses to “know the rules of the road,” charges the U.S. Chamber of Commerce in a new scorecard obtained first by The Hill.
During the 2004 campaign, the Kerry camp derided 5.5 percent unemployment as proof of a “jobless recovery.” Today 8.3 percent is deemed a sign of a real rebound. In 2008, when George W. Bush had borrowed $4 trillion over eight years, the deficits were termed by candidate Obama as “unpatriotic”; trumping that total in just four years is now called much-needed “stimulus.”
A123Systems announced today that it was awarded a $249 million grant from the U.S. Department of Energy’s (DOE) Electric Drive Vehicle Battery and Component Manufacturing Initiative. Under the terms of the $249 million grant, A123 will be required to match the funds over time as they are used. This grant is an important part of A123’s U.S. manufacturing strategy, which also includes an application for a loan from the Department of Energy’s Advanced Technology Vehicles Manufacturing (ATVM) program. The grant will be used to help implement A123’s strategy for the construction of world-class lithium ion battery manufacturing facilities in the United States, with the first construction location in Livonia, Michigan.
The announcement was the last setback for the battery manufacturer that reported earlier this month that it lost $85 million in the fourth quarter of 2011, largely because Fisker Automotive had ordered fewer battery packs than previously expected. Fisker is one of A123 Systems’ largest customers.
President Barack Obama is using privileged access to one of America’s greatest landmarks to reward his most generous financial supporters in ways that Republicans Mitt Romney and Rick Santorum can’t match: More than 60 of Obama’s biggest campaign donors have visited the White House more than once for meetings with top advisers, holiday parties or state dinners, a review by The Associated Press has found.
Nearly three-quarters of investors aged 51 to 60 say the “current political climate” is an obstacle preventing people from achieving the American Dream. Among those age 60 and over, 84 percent blame the political system.
The incredible shifting Governor recently agreed to adjust his November ballot initiative to include an even higher top tax rate. Previously he favored an increase to 12.3% from 10.3% today. But the government-unions that live off tax revenues had threatened to sponsor their own ballot measure raising the top rate even higher.
Struggling to pay employee pensions, local governments are increasingly borrowing money to cover their obligations — exploiting a loophole in federal law that allows them to issue taxable bonds without seeking voter approval.
Oakland took a bet on its pension fund that ended up costing the city an estimated $245 million — nearly a quarter of its annual budget. That hasn’t stopped the city from looking to try its luck one more time.
“It’s insanity,” says Thomas Finkbiner of the Intermodal Transportation Institute at the University of Denver. “People won’t drive to a train to go someplace. If you are going to drive, why not drive all the way and leave when you want?”
The Obama administration has requested $770 million in federal funds to combat the effects of global warming in developing countries, a new congressional report details, continuing its policy of using foreign aid to combat the effects of global warming in the developing world.
The administration uses the money to fund three types of anti-global warming foreign aid: adaptation, clean energy, and sustainable landscapes.
A team of scientists led by geochemist Zunli Lu from Syracuse University in New York state, has found that contrary to the ‘consensus’, the ‘Medieval Warm Period’ approximately 500 to 1,000 years ago wasn’t just confined to Europe.
In fact, it extended all the way down to Antarctica – which means that the Earth has already experience global warming without the aid of human CO2 emissions.
We may be entering an era of creeping de-globalization. It is one thing to be generous with the perceived foibles of your trading partners when your economy is growing and jobs are plentiful. It is quite another to decide to be tolerant when your economy is struggling, and domestic political pressure to create jobs and raise wages is increasing.
A single drug can shrink or cure human breast, ovary, colon, bladder, brain, liver, and prostate tumors that have been transplanted into mice, researchers have found. The treatment, an antibody that blocks a “do not eat” signal normally displayed on tumor cells, coaxes the immune system to destroy the cancer cells.
….We have added new oil and gas pipelines to encircle the Earth and then some.
So we are drilling all over the place. Right now that is not the challenge, that is not the problem.
The problem in a place as Cushing is that we are actually producing so much oil and gas in places like North Dakota and Colorado, that we don’t have enough pipeline capacity to transport all of it to where it needs to go.
Both to refineries and then eventually all across the country and around the world.
There is a bottle neck right here, because we cant get enough of the oil to our refineries fast enough….
You see,Obama thinks that the problem Is that We’re Producing TOO MUCH Oil And Gas!
The problem is that we do not have enough pipelines, even though we build so many new ones to encircle the Earth and then some?
President Barack Obama is intervening in a Senate fight over the Keystone XL oil pipeline and personally lobbying Democrats to reject an amendment calling for its construction, according to several sources familiar with the talks.