“Dr. Doom” Nouriel Roubini: My ‘Perfect Storm’ Scenario Is Unfolding Now
Published: Monday, 9 Jul 2012
By: Ansuya Harjani
Assistant Producer, CNBC Asia
“Dr. Doom” Nouriel Roubini says the “perfect storm” scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China.
In May, Roubini predicted four elements – stalling growth in the U.S., debt troubles in Europe, a slowdown in emerging markets, particularly China, and military conflict in Iran – would come together to create a storm for the global economy in 2013.
“(The) 2013 perfect storm scenario I wrote on months ago is unfolding,” Roubini said on Twitter on Monday.
Chinese inflation data released on Monday, suggested that the economy is cooling faster than expected, while employment data out of the U.S. on Friday indicated that jobs growth was tepid for a fourth straight month in June.
Roubini said that unlike in 2008 when central banks had “policy bullets” to stimulate the global economy, this time around policymakers are “running out of rabbits to pull out of the hat.”
Are you like me, in that you lament the lack of good old fashioned manners now-a-days?
Gone is the reliance on Gentlemanly conduct in society and in business. It is now a pleasant
surprise seeing a young man offer his seat to someone who probably needs it more, whereas it
used to be a basic social expectation.
Now, I don’t want to sound like a stereo-typical retiree starting off the conversation with, “It was
different when I was young….”, but it was! Just for the record, I am 42.
The benchmark for conduct seems to be being set lower and lower each generation and I wonder
if this is due to schools, parents and other institutions holding much less sway over the youth
of today than they did 20, 40, 60 years ago. Bad manners, which used to be stigmatized and
strongly dealt with, now are often ignored, and as a result, tacitly accepted. What messages are
we sending to those who are demonstrating those bad behaviors – particularly when there are no
real repercussions and they get their own way….
For quite some time I have observed, with dismay, the eroding of upright behavior, or what I
think of as Gentlemanly conduct. I constantly see people pushing past each other to get through
the door first, ignoring those in need, and generally going about their day to day existences with
blinkers on.
The final straw for me was listening to my wife, who stands up all day in her retail job, tell me
how able-bodied men on the afternoon train hustle for position so they can get a seat. They will
then typically open their broadsheet newspaper and promptly ignore everyone else, even the
elderly and also pregnant women. This caused me reflect on whether it was worth trying to do a
little something about it.
In October 2010 I created the Today’s Gentleman group. When I created this initially on
Linkedin I was quite amazed at the interest this niche group received, gaining 100 members
(from 10 countries) in the first two weeks, and hitting 250 members within two months. I knew
I must have hit a nerve of some sort to gain such strong interest in a group which seemed a little
whimsy when I first created it. As I write this article the group has over 550 members in over 30
countries and has a presence on Linkedin, Facebook, and in its own right on the web – Today’s
Gentleman
I chose the name Today’s Gentleman as most are familiar with the concept of a “Gentleman”
and we have certain expectations about their behavior. I also feel that it is important for men to
redefine themselves in modern society as there are not the predefined molds there used to be in
the age of the Gentleman of old. It is an attempt to redefine the Gentleman for contemporary
society, Today’s Gentleman.
My concern also extends to the lack of quality Gentlemanly exemplars we currently see
in society now. It is unfortunately the exception rather than the rule now-a-days to find a
Gentleman in the crowds of high profile figures in society which include Sporting stars, Political
figures, Showbiz / Media personalities, and Reality TV stars. We don’t seem to charge our public
figures with “Gentlemanly” conduct as much as we used to. It seems enough now for them to
simply stay out of jail and rehab for us to accept them as a positive role-model… I think we can
expect so much more!
I believe that the more Gentlemanly conduct we see in society the better that community
functions and the more engaged the individuals within that community feel. It is amazing the
difference it makes to someone when you practice random acts of kindness: helping someone
who has a flat tire; letting someone go ahead of you in the register line when they have only a
few grocery items; helping someone to the car with their purchases. These acts repeated and
reciprocated can change people’s day, they can change a community.
In an attempt to gain more public awareness for these issues and encourage these behaviors
Today’s Gentleman has declared the 22nd of February as International Be a Gentleman Day. The
third of these will occur in 2013 and hopefully build in popularity in following years. You can
register your support for the day through the event on Facebook.
The deal was announced in the governor’s office in early March, a bipartisan agreement to save New Jersey’s anti-bullying law with an infusion of cash and a promise to take a harder look at ways the state can support school districts.
Four months later, the cash for last year has been spent, none is appropriated for the next, and the task force created to examine the law and its impact is still to meet.
Such has been the checkered history of the new law, considered one of the toughest in the country for its strict rules to investigate and closely track accusations of bullying. (Mooney, NJ Spotlight)
Anxiety Mounts as US Economy Limps Into 2nd Half
Published: Thursday, 5 Jul 2012 | 5:41 PM ET Text Size
By: Reuters
A slew of weak U.S. economic data is casting doubts over expectations of a pick-up in growth in the second half of the year.
From manufacturing to job growth to consumer spending, the numbers have been grim, and economists are wondering whether they need to dial down forecasts for the remainder of the year.
“Our sense was that of a gradual improvement. Now the sense is of muddling along at a low level of activity,” said Adolfo Laurenti, deputy chief economist at Mesirow Financial in Chicago. “We went from seeing progress, though gradual and very uneven, to not seeing progress at all.”
The economy grew at a 1.9 percent annual pace in the first quarter and estimates for the April-June period are increasingly coming in around 1.5 percent.
American Red Cross Concentrated Lifeguard Training Course
Wed, July 11, 2012 – Fri, July 20, 2012
Time: 12:00 AM
YWCA Bergen County, 112 Oak Street
Cost: $370 per person
The YWCA Bergen County is offering an American Red Cross Concentrated Lifeguard Training course beginning July 11th, 2012. Participants must be age 15 or older and take and pass a swim test on Saturday, July 7th at 1:30pm. A $10 test fee is due at registration.
This five-day concentrated course prepares students with the CPR, First Aid and lifeguard techniques necessary for employment as a professional lifeguard. Classes will be held July 11th, 13th, 14th, 18th and 20th from 9am to 5pm at 112 Oak Street, Ridgewood. The course fee is $370. Call the YWCA Aquatics Department at (201) 444-5600, x3270 or visit www.ywcabergencounty.org for details.
The YWCA Bergen County is dedicated to eliminating racism, empowering women and promoting peace, justice, freedom and dignity for all. We are the area’s largest provider of child care services, a recognized leader in health and fitness programs, and operator of the county’s only Rape Crisis Center. Celebrating nearly a century of commitment to our community, today we improve the lives of thousands of women, girls and their families.
School districts’ anti-bullying funds range from $38K to only $36
Some 371 New Jersey school districts are receiving funds to reimburse them for costs incurred last year under the state’s new anti-bullying law although for many, the money may not go very far.
The state Department of Education awarded just under $1 million to 371 districts, with amounts ranging from $38,519 in Camden, to $46 in Oradell, and $36 in the Haledon Borough School District.
Charter schools grants ranged from $9,166 for the Paterson Charter School for Science and Technology, to $123 for Hoboken Charter School. (Rundquist, The Star-Ledger)
8,733,461: Workers on Federal ‘Disability’ Exceed Population of New York City
By Terence P. Jeffrey
July 2, 2012
(CNSNews.com) – A record of 8,733,461 workers took federal disability insurance payments in June 2012, according to the Social Security Administration. That was up from 8,707,185 in May.
It also exceeds the entire population of New York City, which according to the Census Bureau’s latest estimate hit 8,244,910 in July 2011.
There has been a dramatic shrinkage in the United States over the past 20 years in the number of workers actually employed and earning paychecks per worker who is not employed and is taking federal disability insurance payments.
Nude Photo ‘Sexts’ Sent By One In Four Teens, Study Finds
By Jeanna Smialek – Jul 2, 2012 4:13 PM ET
More than a quarter of American teenagers sent nude photos of themselves electronically, and those who engaged in ‘sexting’ were almost twice as likely as their peers to have had sex, researchers found.
About half of almost 1,000 students ages 14 to 19 from seven public high schools in Texas said they had been asked to send a naked photo electronically, according to a study published today in the Archives of Pediatric and Adolescent Medicine. Another third reported asking someone else to send them a nude picture.
The study found the 28 percent of teens who exchanged nude messages were more likely to have sex. Pediatricians and other adults should ask about sexual messaging to screen for other sexual behavior, said Jeff Temple, a researcher from University of Texas Medical Branch Health in Galveston and the study’s lead author.
Lawmakers and education advocates came to a remarkable compromise in forging an overhaul of tenure laws to make it easier for public schools to oust ineffective educators. But building a consensus meant dropping a change that most other states have already made: making teachers’ effectiveness a factor in determining which lose their jobs in case of layoffs.
Gov. Christie, who opposes using seniority to determine layoffs, is still deciding whether he can accept the compromise.
If he vetoes the bill, he will undo a deal among a unanimous Legislature and groups that do not often agree on the details of improving schools. (Mulvihill, Associated Press)
A Clarion Call for the American People
Robert Alt and Nina Owcharenko
June 28, 2012 at 11:49 am https://tinyurl.com/7f8t6fe
The Supreme Court’s decision to uphold Obamacare reflects a tragic misreading of the law, one which could cost us not just economically but also in terms of liberty. On the bright side, the Court recognized that there are limits to what Congress may do under the Commerce Clause. But this was the silver-lining of a dark cloud. The Court then fundamentally misreads ObamaCare, contorting to find another authority—the power to tax—for Congress to enact the law.
The effects of the decision will be felt far beyond ObamaCare. By allowing government to require Americans to buy a product or service at the federal government’s direction, the Court has seriously damaged the principle of limited government. The decision announced today could open the door to even more dictates from Washington for generations to come. Indeed, anyone who has any doubts about this need only read the Court’s suggestion that Congress could force Americans to buy energy efficient windows or pay a tax.
Fortunately, Americans have always fought for freedom, and won’t give up now. We must turn to the task at hand and work for full repeal of this law. The Supreme Court has in essence given this decision back to Congress and the people, where political power resides.
The American people have spoken—they don’t support Obamacare and fear its consequences more every day. Just this month a new poll conducted by The New York Times and CBS News showed that more than two thirds of Americans want to see the Supreme Court strike down Obamacare in whole or in part, and only 24 percent would keep the law in place.
Thankfully, the duty to defend the Constitution is not given solely to the Supreme Court—it is one shared by Congress and the President. It is now Congress’ turn to do what’s right both for the Constitution and policy reasons: repeal Obamacare.
The American people know this year will be a turning point in American history. We have a big decision between constitutional, limited government on the one hand and Leviathan on the other.
This law fails American families—it raises premiums and taxes, drives up spending and debt, undermines the doctor-patient relationship, tramples on religious liberty and expands the role of government in our daily lives.
It is time for full repeal.
Trends in college funding shortchange state schools
Legislators and the governor’s staff have been focused on the controversial higher education restructuring plan during this budget cycle, all but ignoring an issue that affects many more students and their families: state college funding.
This year’s state budget — having passed both houses of the Legislature and awaiting action by Gov. Chris Christie — provides no increase in aid to Rutgers University or the state colleges, save for a $5 million boost to Rowan University, a key beneficiary of the restructuring, for its new medical school. (O’Dea, NJ Spotlight)
More than 46 million Americans continue to live in poverty despite unprecedented federal welfare spending, the study finds.
Study: More Than Half a Trillion Dollars Spent on Welfare – But Poverty Levels Unaffected
“The vast majority of current programs are focused on making poverty more comfortable … rather than giving people the tools that will help them escape poverty.”
By Matt Cover
June 25, 2012
(CNSNews.com) – The government is not making much headway reducing poverty despite spending hundreds of billions of dollars, according to a study by the libertarian Cato Institute.
Despite an unprecedented increase in federal anti-poverty spending the national poverty rate has not declined, it finds.
“[S]ince President Obama took office, federal welfare spending has increased by 41 percent, more than $193 billion per year.” the study says.
Federal welfare spending this year now totals $668 billion, spread out over 126 programs, while the poverty rate that remains stubbornly high at nearly 15 percent – roughly where it was in 1965, when President Johnson declared a federal War on Poverty.
Congratulations again to the RHS class of 2012
June 24,2012
the staff of the Ridgewood blog
Ridgewood NJ , This past Thursday, June 21, a whole new crop of graduation seniors where launched into adulthood. A procession of 393 Ridgewood High School seniors made the walk from the turret, down the walkway and onto the Ridgewood High School Stadium field to receive their diplomas in the 117th annual RHS graduation ceremony.
According to the Ridgewood BOE website 87.6 % or 339 students will attend a four-year university, and 7.7 % or 30 students will go on to a two-year college.With one student going to trade school, two who joined the US armed forces and 8 graduates will take a year off. Of those attending college 73.1 % or 291 students will go to schools out of state down slightly from last year and only 21.6 percent ,86 students will remain in state , with Bergen Community College in Paramus receiving the largest percentage of graduates with 18 .
When it comes to public school spending, New Jersey’s average of $16,841 per pupil in 2010 ranked it second to the top among states, the U. S. Census Bureau reported Thursday.
The average of $18,618 in New York and $18,667 in Washington, D.C., exceeded New Jersey’s per-pupil spending. All nine states in the Northeast region were ranked among the top 15 in spending in 2010.
In arguing for a new tenure bill and weaker seniority rules, Governor Christie has long argued that money alone does not bring achievement, and that billions poured into the state’s poorest city schools have not brought adequate results. Many educators counter that New Jersey’s schools, in the aggregate, are among the highest-performing in the country, even though there are pockets of chronically troubled schools with dismal test scores and low graduation rates. (Brody, The Record)
5 Housing Markets Where Renting Beats Owning
By AnnaMaria Andriotis
In theory, plummeting home prices and record-low interest rates should make buying a home cheaper than renting one. But experts say in some parts of the country, it still pays to be a tenant.
Despite the incentives to buy now — namely that average rates on a 30-year mortgages are now 3.7% — sales of single-family existing homes slipped 1.5% in May from a month earlier, according to data released today by the National Association of Realtors. Experts say the drop, which came during the historically busy spring season, suggests the housing market has a way to go to recover. If anything, the ranks of American homeowners are dwindling. The homeownership rate in the U.S. fell slightly from 66% to 65% during the first quarter of 2012 — the lowest in 15 years, according to the latest data by the U.S. Census. (It peaked at just over 69% in 2004.)
Renters, meanwhile, have more inventory to choose from as owners who are unable to sell their homes often have no choice but to find tenants, says Dan McCue, research manager at Harvard University’s Joint Center for Housing Studies. The number of single-family homes for rent or being rented grew by two million units from 2006 to 2010, according to a JCHS report released this month, and McCue says the number has likely grown since then. “One third of all rentals are single-family homes,” he says.
