Ireland is following in the American footsteps of harmful spending mistakes. They closely resemble our own problem with banks and home foreclosures. CNN reports:
Irish banks, like others around the world, loaned money to people who in some cases couldn't pay it back. Cheap loans created extra demand for housing and as prices surged the construction industry raced to build more.
Just as the economy of America is getting back on it's feet, Ireland falls over on itself. The hangover of reckless funds is settling in resembling our recent fall in 08. Ireland is not asking for outside aid though, while America received China's aid. I feel as if history is just repeating itself. It appears that countries around the world need to enact reforms to their spending habits and to revive from their economic slumps. This is easier said than done, but I believe we can learn from our past and move onto more pressing problems.
MSNBC reports that there is a new green breakthrough that might catch on. Toilet paper is not being marketed without the brown cardboard roll inside of it. Though on a small scale, this will most likely save the use of much paper which does not need to be used.
If you think about it, the roll inside toilet paper is completely unnecessary. So what if the paper does not come off the roll as neatly? It is all going to be used in the same fashion. On a serious note, this minor breakthrough is just one step towards cleaning up our act and living our lives with the most efficiency.
Here is a video about our plastic waste from VBSTV, an independent internet news site. Even if you do not believe in global climate change / global warming, this is a problem that no one can deny.
The recession hit millions hard in 2008, but it also hit rich people. Some say they feel left out and forgotten. People must not forget about the rich.
"It's just not fair," said the 49-year-old real estate developer and grandson of oil baron Duncan Chandler. "Everyone is worrying about an uncertain future and coming together to express their outrage, and I don't get to be a part of it."
Staring out at the ornate garden where workers were installing a large marble fountain, Chandler sighed and added, "It's like I don't even exist."
Over 60,000 arrests related to marijuana? Not only would the legalization of pot help our destroyed economy, but it would save money by saving time and space. The decriminalization of marijuana would simply be a great push for the state of California.
The legalization reminds me of the prohibition, where all alcohols were illegal by federal law. Well, after legalized again, there was a decrease in underground markets and crime. In addition, the legalization of alcohol also increased taxes contributed to the U.S. government. I have no doubt that the legalization or decriminalization of pot would follow on the same path as prohibition in the early twentieth century.
Wal-mart, a massive supermarket chain with over 2 million employees that rivals some countries, is going to double the percentage of local produce. The "local" refers to any produce grown in the state, this is quite general, but it would help smaller economies and farmers. The NY Times article by Stephanie Clifford says:
Wal-Mart Stores announced a program on Thursday that focuses on sustainable agriculture among its suppliers as it tries to reduce its overall environmental impact. The program is intended to put more locally grown food in Wal-Mart stores in the United States, invest in training and infrastructure for small and medium-size farmers, particularly in emerging markets, and begin to measure how efficiently large suppliers grow and get their produce into stores.
This program would help local economies and reduce pollution from transportation. This new plan, which should be enacted by 2015, will be a significant step towards a greener America.
New York Times reports that the trade deficit between the U.S. and China is still widening. The capitalistic nature of America is pushing American business to outsource and to buy products from China because of the lower prices of labor.
"The trade deficit grew to $46.3 billion, up from a revised $42.6 billion in July and exceeding forecasts for a gap of around $44 billion. The deficit with China accounted for $28 billion of the August shortfall, up from $25.9 billion the month before.
The widening gap with China comes amid rising concerns in Washington about China’s trade dominance and its effect on the global economic recovery. The Obama administration and some lawmakers are pressing China to allow its currency to appreciate more quickly, hoping it will temper Chinese exports by making them more expensive"
The article continues with:
“The only way this works in reducing the U.S. trade deficit is if U.S. consumers shift their consumption of Chinese goods to U.S.-produced goods,” said Dan Greenhaus, the chief economic strategist for Miller Tabak & Company. “You need to increase the appeal of U.S.-based goods.”
Even the thought of making U.S. based goods more appealing is difficult to conjure. Looking around my house, I bet three fourths have a label saying "made in China". Simply, American goods are more expensive in general and may by worse than their Chinese counterparts. One classic example is the automobile industry where Ford is having a horrible time while companies like Toyota are thriving in relation. The better reliability and price do drive home the unfortunate idea that America is not the best at everything.
The Census Bureau reports that there is a sharp rise in unmarried opposite sex couples living together. As the economy has rendered more than 10 percent of Americans unemployed, saving money by housing with a boyfriend or girlfriend is becoming more popular. Fox News reports:
'It would be odd to say this year was emotionally different, so it's more likely practical considerations that are behind the increase in cohabitation,' said Rose Kreider, a family demographer at the Census Bureau who reviewed the numbers.
Her analysis, published Thursday in a 19-page census working paper previewing the 2010 data, shows that newly formed unmarried couples living together were more likely to have one partner unemployed, who was often male. They also typically lived in the South where poverty was more widespread and sometimes in larger households, such as with parents or other couples.
The economic downturn in recent years has affected many aspects of life for different people. The multiple statistics that the Census has provided exemplify how much life has changed. It is now much more practical to move in with a girlfriend or boyfriend to save money when more and more individuals are unemployed or have lost their old homes to foreclosure. Until the recession starts to significantly look up, America should expect more unmarried couples living together. Though, one may be able to look at the recession in a positive light because couples are closer to each other than ever before.
Just as the economy of America is getting back on it's feet, Ireland falls over on itself. The hangover of reckless funds is settling in resembling our recent fall in 08. Ireland is not asking for outside aid though, while America received China's aid. I feel as if history is just repeating itself. It appears that countries around the world need to enact reforms to their spending habits and to revive from their economic slumps. This is easier said than done, but I believe we can learn from our past and move onto more pressing problems.
