The liquidity shortfall in the United States banking system resulted in the collapse of large financial institutions and other business firms. This in turn created a domino effect triggering the worst economic recession in the modern era with many countries including major players deeply affected. Because of this, the economies of other countries have significantly slowed as international trade declined and confidence in spending has slowly diminished. The U.S. also incurred a very large budget deficit that threatens the country’s stability in the future.
The home and housing sector is obviously one of the most affected by the recent economic and financial crisis. There was widespread foreclosure as prices of house loans and interest rates soared up. In April this year, the number of home sales went down due to the expiration of federal tax credit given to buyers. Experts and economists are now deeply worried about the possibility of the double dip recession since the economy and the housing market are two different entities that worked with each other.
The fall of the housing sector can greatly affect the stability of the economy and the stimulation of economic growth. According to West Chest, Pennsylvania-based Moody’s Analytics, 15 percent of the gross domestic product during the second quarter was attributed to home construction materials and home furniture and appliances. Also, the housing sector may also influence consumer spending by enabling consumers to receive extra money to buy more goods. In the mid 2000’s, consumers used the equity of their homes to purchase automobiles and take on a holiday vacation.
With over 14.6 million Americans having no work or going underemployed, homeowners are struggling to cope up with their housing loans or in paying for their ownership of properties. Figures showed that one in seven mortgages resulted in foreclosure in the first quarter. Although Pres. Obama has already implemented the Home Affordable Modification Program, there are still a lot of instances where the consumer defaulted on the loan. The unstable economy has forced homeowners to default and instead chose to save more money for future use.
Previous economic recessions make use of the housing sector to generate economic growth and encourage consumer spending. That is not the case today as people are losing hope with fewer jobs available in the market. If the housing sector continues to fall with little positive effects done by Obama’s Home modification program, the country may well be experiencing a double dip recession resulting in negative economy growth. The government must act now and take on the right decisions to be able to steer the economy from other crisis waiting to happen.
Monday, August 23, 2010
The Global Crisis Brought by Climate Change
Climate change have been occurring for millions of years now only that what is happening today is significantly destructive enough compared to previous occurrences. Climate change can be simply described as a sudden change in weather patterns over long periods of time such as extreme heat or the frequency of flooding. It can have devastating effects to human civilization such as newer diseases, flashfloods, earthquakes and other calamities. Weather patterns today provide us an indication that we are heading into an environmentally chaotic future.
What better way to measure climate change than to monitor the current situation of the Arctic Ice cap. In 1994, a United States Cost Guard-owned icebreaker went on a journey to the North Pole encountering thick packs of ice ranging from six to nine feet thick. The captain of the ship, Marc Rothwell, recalled that they never encountered any problem with strong waves as the ice prevented them from developing. Today, the open sea has expanded giving us an idea that much of the ice seen before has now melted and joined the sea water.
Studies showed that the Arctic is indeed warming twice as fast compared to other parts of the planets. The increased temperatures are melting the ice caps turning them into sea water which in turn accelerates the melting process. Also, the warmer Pacific Ocean water is also passing through the Arctic basin further melting a larger area of ice. The rapid melting of ice caps is expected to increase temperature levels to record highs. It will also significantly increase water levels making more places prone to flooding and more vulnerable to storm surges.
If you have been hearing the news lately, you may have heard about the flashfloods in China that killed over 50,000 people and the wildfires in Russia which threatened to destroy its capital city. Studies also indicated that the year 2010 will be the warmest year all throughout the history of the planet. While we are already experiencing the negative effects of climate change, efforts by government with regards to climate policy have been dull. In fact, the senate democrats have rejected the proposal to instill a climate policy bill.
The recent economic crisis has also snatched the attention of most governments. The governments of various nations are quite busy solving their economic woes while also forgetting the responsibilities they need to do for their environment. Without adequate attention poured unto a climate bill, we will be facing an environmentally devastating future. The lives of our sons and daughters are totally dependent on the decisions we make today. Countries and nations should cut on greenhouse gas emissions and create an environmental policy that will restore and normalize the environment. If we are really concerned about saving Earth, we should really act now.
What better way to measure climate change than to monitor the current situation of the Arctic Ice cap. In 1994, a United States Cost Guard-owned icebreaker went on a journey to the North Pole encountering thick packs of ice ranging from six to nine feet thick. The captain of the ship, Marc Rothwell, recalled that they never encountered any problem with strong waves as the ice prevented them from developing. Today, the open sea has expanded giving us an idea that much of the ice seen before has now melted and joined the sea water.
Studies showed that the Arctic is indeed warming twice as fast compared to other parts of the planets. The increased temperatures are melting the ice caps turning them into sea water which in turn accelerates the melting process. Also, the warmer Pacific Ocean water is also passing through the Arctic basin further melting a larger area of ice. The rapid melting of ice caps is expected to increase temperature levels to record highs. It will also significantly increase water levels making more places prone to flooding and more vulnerable to storm surges.
If you have been hearing the news lately, you may have heard about the flashfloods in China that killed over 50,000 people and the wildfires in Russia which threatened to destroy its capital city. Studies also indicated that the year 2010 will be the warmest year all throughout the history of the planet. While we are already experiencing the negative effects of climate change, efforts by government with regards to climate policy have been dull. In fact, the senate democrats have rejected the proposal to instill a climate policy bill.
The recent economic crisis has also snatched the attention of most governments. The governments of various nations are quite busy solving their economic woes while also forgetting the responsibilities they need to do for their environment. Without adequate attention poured unto a climate bill, we will be facing an environmentally devastating future. The lives of our sons and daughters are totally dependent on the decisions we make today. Countries and nations should cut on greenhouse gas emissions and create an environmental policy that will restore and normalize the environment. If we are really concerned about saving Earth, we should really act now.
China’s Rise: Should the U.S. be Concerned?
For many years, the U.S. has enjoyed so much publicity and honor as it tagged as the last remaining superpower and having the largest economy in the whole world. With a GDP of over $14 trillion, the U.S. enjoys being tagged as the center for global manufacturing and financial sector. Also, having a per capita income of $46,381 indicates that Americans have one of the highest qualities of living in the world. That is why the sudden boom on the Chinese economy has caused a certain sense in urgency for the U.S.
Recent figures showed that China’s economy has replaced Japan as the second largest economy in the world. In the April-to-June quarter, China’s nominal GDP accounted to $1.335 trillion compared to Japan’s $1.286 trillion. Although Japan’s economy never really shrunk, the growth was slower. Also, the Chinese economic boom was dubbed as miraculous having become the number 1 exporting country in the world. A power shift is expected in the next couple of years as China might decide to assert its power and influence unto the world.
There have been frequent debates and arguments with regards to the concerns of the U.S. on the sudden rise of China. Some feared that the sudden shift in power will result in conflict and aggression. Recently, the U.S. has expressed concern on China’s ambitious plan to fully occupy the controversial Spratlys islands and deploy naval troops there. The U.S. has mentioned that China should resolve that matter along with other claimants in a peaceful way. The Chinese naval presence has been continuously expanding and covering more space than ever before.
Despite having the 2nd largest economy in the world, China still has internal issues such as only having $3,999 in per capita income. It is still home to some of the poorest people in the world while Japan enjoys a $41,366 per capita income which is one of the highest in the world. China still needs to scatter the wealth if it wants to overtake the U.S. and claim the number one spot.
The possibility of a U.S.-China conflict is still inevitable as both countries are totally dependent with each other especially when talking about trade. I don’t see anything wrong about the sudden rise in power by China. The only thing that the world has to be concern of is when China decides to be aggressive. Nevertheless, a productive China will still benefit a lot of countries such as the U.S. as trade and economic activity will be very much active.
Recent figures showed that China’s economy has replaced Japan as the second largest economy in the world. In the April-to-June quarter, China’s nominal GDP accounted to $1.335 trillion compared to Japan’s $1.286 trillion. Although Japan’s economy never really shrunk, the growth was slower. Also, the Chinese economic boom was dubbed as miraculous having become the number 1 exporting country in the world. A power shift is expected in the next couple of years as China might decide to assert its power and influence unto the world.
There have been frequent debates and arguments with regards to the concerns of the U.S. on the sudden rise of China. Some feared that the sudden shift in power will result in conflict and aggression. Recently, the U.S. has expressed concern on China’s ambitious plan to fully occupy the controversial Spratlys islands and deploy naval troops there. The U.S. has mentioned that China should resolve that matter along with other claimants in a peaceful way. The Chinese naval presence has been continuously expanding and covering more space than ever before.
Despite having the 2nd largest economy in the world, China still has internal issues such as only having $3,999 in per capita income. It is still home to some of the poorest people in the world while Japan enjoys a $41,366 per capita income which is one of the highest in the world. China still needs to scatter the wealth if it wants to overtake the U.S. and claim the number one spot.
The possibility of a U.S.-China conflict is still inevitable as both countries are totally dependent with each other especially when talking about trade. I don’t see anything wrong about the sudden rise in power by China. The only thing that the world has to be concern of is when China decides to be aggressive. Nevertheless, a productive China will still benefit a lot of countries such as the U.S. as trade and economic activity will be very much active.
Friday, August 20, 2010
The U.S. Leaves a Legacy in Iraq: Torture, Corruption and Civil War
Going to war and invading another country is certainly a serious and very complicated task done only with the best and brilliant minds. On March 20, 2003, the U.S. armed forces initiated a military campaign against Iraq with the aim of disrupting the terror network and seizing weapons of terror and mass destruction. It was a well-coordinated and well-planned attack that saw the use of modern high precision military hardware and effective military tactics. With the world watching in awe, the world’s only remaining superpower showed the very reason for its dominance.
And now after 8 grueling months of intense battle and dramatic scenes, the last batch of U.S. troops that faithfully served the war is finally leaving the country. Many questions still remain especially with regards to the reasonability of the war and the success it has done. With over 4000 U.S. personnel deaths, 31, 827 wounded in action and an ever growing insurgency, many are still convinced that the U.S. fought an unwinnable and irrational war. Facts show us that the insurgency today is more willing and more determined to kill compared to the insurgency faced by the invasion forces.
But perhaps the most destructive stain the U.S. has brought to Iraq is the plague of Al Qaeda. The invasion caused a massive civil war which explains the existence of mercenaries and insurgent groups threatening to create havoc and bloodshed all across the country. Almost every day, there is at least an Iraqi or an allied soldier who gets killed by attacks from insurgency. It also resulted in widespread corruption with government funds going unaccounted. And worst of all, the number of human rights violation soared so high that torture became a norm for punishment.
It is also good to take note that America is leaving 50,000 troops to teach and train the Iraqi army. These troops will definitely be attacked and be forced to also defend themselves. Just recently, a suicide bomber blew himself just outside an army recruiting center killing over 60 Iraqi recruits. It clearly shows the danger faced by those troops and the degree of civil unrest that U.S. forces left in Iraq. It is also quite disheartening that there are now over 1 million Iraqi’s who lost their life since the conflict started.
The U.S. fully believed that they have achieved victory in this war. What they don’t know is that millions more are suffering because of their wrongdoings. The legacy left by U.S. forces in Iraq is not really honor but torture, corruption and civil war instead.
And now after 8 grueling months of intense battle and dramatic scenes, the last batch of U.S. troops that faithfully served the war is finally leaving the country. Many questions still remain especially with regards to the reasonability of the war and the success it has done. With over 4000 U.S. personnel deaths, 31, 827 wounded in action and an ever growing insurgency, many are still convinced that the U.S. fought an unwinnable and irrational war. Facts show us that the insurgency today is more willing and more determined to kill compared to the insurgency faced by the invasion forces.
But perhaps the most destructive stain the U.S. has brought to Iraq is the plague of Al Qaeda. The invasion caused a massive civil war which explains the existence of mercenaries and insurgent groups threatening to create havoc and bloodshed all across the country. Almost every day, there is at least an Iraqi or an allied soldier who gets killed by attacks from insurgency. It also resulted in widespread corruption with government funds going unaccounted. And worst of all, the number of human rights violation soared so high that torture became a norm for punishment.
It is also good to take note that America is leaving 50,000 troops to teach and train the Iraqi army. These troops will definitely be attacked and be forced to also defend themselves. Just recently, a suicide bomber blew himself just outside an army recruiting center killing over 60 Iraqi recruits. It clearly shows the danger faced by those troops and the degree of civil unrest that U.S. forces left in Iraq. It is also quite disheartening that there are now over 1 million Iraqi’s who lost their life since the conflict started.
The U.S. fully believed that they have achieved victory in this war. What they don’t know is that millions more are suffering because of their wrongdoings. The legacy left by U.S. forces in Iraq is not really honor but torture, corruption and civil war instead.
Food Safety Modernization Bill: Ensuring that Food is Clean and Safe to Eat
There are many important elements needed for humans to continue living in this world. One of them is food which enables a person to satisfy his/her gastronomic needs. It is very essential as it stimulates growth, produces energy, repair damaged cells and maintain proper nutrition and health. What people don’t know is that food is also vulnerable to various diseases that can easily infect millions of people worldwide. That is why it is the job of government agencies to ensure that the food eaten by citizens is clean and safe to eat.
Eggs, regardless of how it’s cooked have been a worldwide symbol for breakfast. Just recently, Iowa-based egg produced Wright County Eggs initiated a massive recall of its products due to fears of contamination. It recalled over 380 million pieces or 32 million dozen of eggs. There is a huge possibility that those eggs were contaminated by Salmonella virus which can infect humans. Salmonella is caused by bacteria that spreads the disease and can put the life of an infected person in peril.
In the month of May this year, the Centers for Disease Control and Prevention (CDC) began noticing a sudden spurt in Salmonella infections. The number of cases further multiplied during the months of June and July prompting them to conduct an investigation. The massive recalls were already considered a failure by the government to effectively screen food and ensure safety. It also implies that millions of those potentially contaminated eggs were already found in grocery stores and even in households.
The pressure now lies on the U.S. Congress to implement a reform in the nation’s food safety system and submit the Food Safety Modernization Bill that will expand the authority of the FDA to inspect food processing facilities and keep unsafe food off grocery store shelves. It will also provide policies, procedures and funding that will further prevent any disease outbreaks in the future. The bill will still need to go through Pres. Obama though and will need his approval.
There are about 76 million cases of food borne illness each year resulting in 325 hospitalizations and 5000 deaths. Knowing that the food we are eating isn’t thoroughly checked for safety standards is already a primary cause of concern for consumers. It is the full the responsibility of the government to check these food processing companies so they will only produce clean, safe and healthy food. By implementing the Food Safety Modernization Bill, we will be able to prevent future outbreaks and maintain the high quality of food that is served in every household.
Eggs, regardless of how it’s cooked have been a worldwide symbol for breakfast. Just recently, Iowa-based egg produced Wright County Eggs initiated a massive recall of its products due to fears of contamination. It recalled over 380 million pieces or 32 million dozen of eggs. There is a huge possibility that those eggs were contaminated by Salmonella virus which can infect humans. Salmonella is caused by bacteria that spreads the disease and can put the life of an infected person in peril.
In the month of May this year, the Centers for Disease Control and Prevention (CDC) began noticing a sudden spurt in Salmonella infections. The number of cases further multiplied during the months of June and July prompting them to conduct an investigation. The massive recalls were already considered a failure by the government to effectively screen food and ensure safety. It also implies that millions of those potentially contaminated eggs were already found in grocery stores and even in households.
The pressure now lies on the U.S. Congress to implement a reform in the nation’s food safety system and submit the Food Safety Modernization Bill that will expand the authority of the FDA to inspect food processing facilities and keep unsafe food off grocery store shelves. It will also provide policies, procedures and funding that will further prevent any disease outbreaks in the future. The bill will still need to go through Pres. Obama though and will need his approval.
There are about 76 million cases of food borne illness each year resulting in 325 hospitalizations and 5000 deaths. Knowing that the food we are eating isn’t thoroughly checked for safety standards is already a primary cause of concern for consumers. It is the full the responsibility of the government to check these food processing companies so they will only produce clean, safe and healthy food. By implementing the Food Safety Modernization Bill, we will be able to prevent future outbreaks and maintain the high quality of food that is served in every household.
Flashfloods in Pakistan: A Major Cause of Concern
The world today is far different and not as safe as before. Climate change has long been blamed for numerous disasters and catastrophes that have deeply affected the lives of millions of people. The frequent occurrence of earthquakes has caused widespread damage to infrastructure and made more people homeless. Tsunamis have also swept the land taking the lives of thousands or even millions of people. But perhaps the most destructive of them all are abnormal weather patterns that have caused flashfloods and made more people homeless.
In recent news, the country of Pakistan was ravaged by unexpected flashfloods submerging a fifth of the nation’s total land area. Estimates reported that over 10 percent of the population which is roughly 20 million people is deeply affected by this catastrophe. More than 1,500 people were already killed by the floods and about 3.5 million children are in imminent danger of contracting various deadly diseases such as cholera, acute diarrhea and malaria. The millions of people who are stranded are also in danger of starvation and may lack clean drinkable water. Without the necessary help, thousands more may die.
Pakistan currently relies in foreign aid to help give their people basic commodities for survival such as food, water, clothing and medicine. Currently, there have been a lot of countries who contributed already only that it is still not enough to alleviate the problem. The U.S. government has recently pledged $150 million along with 12 transport helicopters. Other countries such as U.K., Japan and France have offered $48.5 million, $10 million and $1 million respectively. It is sad to note that the U.S. is only able to offer so much when in fact it has spent over $100 billion just to battle Taliban forces.
The destruction to property and livelihood may have caused not only starvation to Pakistanis but also reshaped their thinking about survival. The influence brought by severe poverty may cause more Pakistanis especially the young ones to consider Islamic extremism as a primary means to survive. This in turn provides a severe threat to security for the U.S. and the weakened Pakistani government. Without ample help, Pakistanis are forced to commit crimes or even join the Taliban for relief.
The U.S. along with other nations should take this matter very seriously. If the U.S. is very much capable of spending so much money in procuring military hardware and staging many different wars, then they must also focus in saving lives and maintaining trust among the Pakistani people. International cooperation is badly needed to save millions of Pakistanis and prevent further hostilities in the region.
In recent news, the country of Pakistan was ravaged by unexpected flashfloods submerging a fifth of the nation’s total land area. Estimates reported that over 10 percent of the population which is roughly 20 million people is deeply affected by this catastrophe. More than 1,500 people were already killed by the floods and about 3.5 million children are in imminent danger of contracting various deadly diseases such as cholera, acute diarrhea and malaria. The millions of people who are stranded are also in danger of starvation and may lack clean drinkable water. Without the necessary help, thousands more may die.
Pakistan currently relies in foreign aid to help give their people basic commodities for survival such as food, water, clothing and medicine. Currently, there have been a lot of countries who contributed already only that it is still not enough to alleviate the problem. The U.S. government has recently pledged $150 million along with 12 transport helicopters. Other countries such as U.K., Japan and France have offered $48.5 million, $10 million and $1 million respectively. It is sad to note that the U.S. is only able to offer so much when in fact it has spent over $100 billion just to battle Taliban forces.
The destruction to property and livelihood may have caused not only starvation to Pakistanis but also reshaped their thinking about survival. The influence brought by severe poverty may cause more Pakistanis especially the young ones to consider Islamic extremism as a primary means to survive. This in turn provides a severe threat to security for the U.S. and the weakened Pakistani government. Without ample help, Pakistanis are forced to commit crimes or even join the Taliban for relief.
The U.S. along with other nations should take this matter very seriously. If the U.S. is very much capable of spending so much money in procuring military hardware and staging many different wars, then they must also focus in saving lives and maintaining trust among the Pakistani people. International cooperation is badly needed to save millions of Pakistanis and prevent further hostilities in the region.
Thursday, August 19, 2010
More Crimes are Now Directed Against Homeless People
During this time of economic recession and uncertainty, losing your home may be a very serious thing to happen. With the collapse of top financial institutions, remortgages become more expensive and people just couldn’t do anything but default on their real state plans. Uncontrollable debts have also caused widespread confiscation of homes and real estate properties and will continue to do so as interest rates soar high. People across the nation are losing their homes faster as the economy is still at a standstill.
What makes things more complicated is the sudden increase in crimes that target homeless or street people. In the year 2008, there were about 27 homeless people killed. In 2009, that figure almost doubled with 43 people getting killed. The figures only count the number of deaths not counting the thousands more of physical and verbal abuses experienced by these already struggling people. What makes them more vulnerable to these abuses is the fact that they live in streets making them more near to criminals and other evil elements.
This is such a huge concern especially among law enforcers, politicians and human rights advocates. National Coalition for the Homeless, a human rights advocacy group, implied in their report the traumatic and sometimes near-death experiences faced by homeless people. According to the report, there were cases when homeless people got doused by gasoline and were set on fire. There are also others who were badly beaten by bottles, baseball bats, metal pipes and other hard objects which can inflict direct physical pain and suffering.
It is intriguing to hear that the F.B.I. does not keep track on crimes committed to homeless people. Because of this, Maryland Democrat Senator Benjamin L. Cardin has already passed a bill which will require the F.B.I. to monitor the crimes committed to homeless people. The bill is already under review and will await deliberation. This rising problem with regards to violence against homeless people should be taken by politicians more seriously. As the recession continuous, more people are expected to lose their homes and live at city streets.
In a case in April 2009, three teenage boys were accused of beating a homeless man to death by smashing his skull with metal pipes and makeshift bats. Their plan was to beat up a “bum”. The homeless people are ones who are the most vulnerable to these inhumane attacks. If the government doesn’t do anything about it, more people will lose their lives and human rights abuses will continue. We call on the U.S. government to provide appropriate protection to these people and also help people to secure their homes.
What makes things more complicated is the sudden increase in crimes that target homeless or street people. In the year 2008, there were about 27 homeless people killed. In 2009, that figure almost doubled with 43 people getting killed. The figures only count the number of deaths not counting the thousands more of physical and verbal abuses experienced by these already struggling people. What makes them more vulnerable to these abuses is the fact that they live in streets making them more near to criminals and other evil elements.
This is such a huge concern especially among law enforcers, politicians and human rights advocates. National Coalition for the Homeless, a human rights advocacy group, implied in their report the traumatic and sometimes near-death experiences faced by homeless people. According to the report, there were cases when homeless people got doused by gasoline and were set on fire. There are also others who were badly beaten by bottles, baseball bats, metal pipes and other hard objects which can inflict direct physical pain and suffering.
It is intriguing to hear that the F.B.I. does not keep track on crimes committed to homeless people. Because of this, Maryland Democrat Senator Benjamin L. Cardin has already passed a bill which will require the F.B.I. to monitor the crimes committed to homeless people. The bill is already under review and will await deliberation. This rising problem with regards to violence against homeless people should be taken by politicians more seriously. As the recession continuous, more people are expected to lose their homes and live at city streets.
In a case in April 2009, three teenage boys were accused of beating a homeless man to death by smashing his skull with metal pipes and makeshift bats. Their plan was to beat up a “bum”. The homeless people are ones who are the most vulnerable to these inhumane attacks. If the government doesn’t do anything about it, more people will lose their lives and human rights abuses will continue. We call on the U.S. government to provide appropriate protection to these people and also help people to secure their homes.
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