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Unemployment in Britain hits 16-year high
Britain's jobs market is suffering from the slowdown in the economy. After falling steadily for 15 years, unemployment has risen by about 70,000 this year. That puts the number of permanent jobs available to its lowest level since 2001. And economists predict that this trend will continue, pushing unemployment sharply up in the year to come.
"The slide in the UK economy continues to hit the jobs market hard - with yet another sharp drop in recruitment," said Alan Nolan, director at KPMG, which sponsors the report. "UK employers are continuing to control payroll costs through redundancies - and by refusing to take advantage of a growing (but increasingly unused) pool of skilled labour."
Economists warn that skilled workers are moving abroad, which could pose a workers-shortage when the economy picks up again. Britain's jobs market is suffering from the slowdown in the economy. After falling steadily for 15 years, unemployment has risen ... more -
"The Dangers of Neo-Conservative Economic Policies" by Ron Paul
"The dangers inherent in the foreign policy advocated by the neo-conservatives are well known. While many Americans have become increasingly aware of those dangers, far less attention has been focused on the dangers of neo-conservative economic policies. This issue is of critical importance right now, because many are mistakenly pointing their fingers at the free market as the culprit behind our current economic plight.
There are only a few in elected office who have any real loyalty to free markets and limited government. The agenda of neo-conservatives in the economy calls for a very active central government. Indeed, while there are some neo-conservatives who continue to use the rhetoric of limited government, and who oppose increases in the federal income tax as a way to maintain the political benefits that apply to those who talk about free markets, it is now the neo-conservatives who promote fiat monetary policies even more than those on the liberal left.
While I have been a strong proponent of cutting taxes on all Americans, and therefore supported the tax reductions offered by President Bush, the neo-cons argue that tax rate reduction alone is the key to “getting the government out of the way” of economic growth. Moreover, they invariably argue for tax reductions targeted toward the wealthy, and toward multinational corporations.
Over the years, I have offered several tax plans designed to assist hard working middle-class Americans to pay for their needs, whether these needs be health-care related, educational or to pay the costs of fuel. A few years back when I introduced one such bill, a prominent Republican approached me on the House Floor and asked, half in anger and half in amazement “why did you do that?” Shortly after that, the committee chairman at the time, also a Republican, sent out a release strongly attacking my tax cut bill.
So, while the liberal economic agenda includes more taxes and spending, the neo-con economic program simply looks to target some tax cuts to preferred groups, but ignore the economic big picture. The neo-con economic agenda is to “borrow and spend” and it is that agenda, even more than the tax and spend ways of many liberals, that has cast us in economic peril at this time.
Simply, on spending, the neo-cons and the liberals share views, just as they share similar views on foreign policy. While each side tries to claim the mantle of change, reality is that more of the same is not change.
The fiat monetary policy we now follow is the most significant factor contributing to our economic peril, and it is central to the neo-con agenda. As we hear new calls to empower the Federal Reserve Board, we should be aware that underlying all neo-conservative policies is the idea of monetary inflation. Inflation is the technique used to pay for the regulatory-state and the costs of policing the world."
Article originally appears at link from Congressman Ron Paul's (R-TX) Texas Straight Talk weekly column.
For more speeches, statements, videos and articles by Congressman Paul click here
http://www.house.gov/paul/
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Ron Paul's "Campaign for Liberty"
The mission of the Campaign for Liberty is to promote and defend the great American principles of individual liberty, constitutional government, sound money, free markets, and a noninterventionist foreign policy, by means of educational and political activity.
For more information please follow this link http://campaignforliberty.com/
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Photo by flickr user PaisleyPitbull
http://www.flickr.com/photos/paisleypitbull/2516320087/...
Licensed under Creative Commons Attribution-Noncommercial-Share Alike 2.0 Generic
http://creativecommons.org/licenses/by-nc-sa/2.0/deed.e... "The dangers inherent in the foreign policy advocated by the neo-conservatives are well known. While many Americans have become ... more -
Peter Schiff predicting our current economic condition back in 2006!
In 2006, Peter Schiff, President and Chief Global Strategist of Euro Pacific Capital, spoke at the Western Regional Mortgage Bankers Association Meeting in Las Vegas and told over 1000 mortgage brokers that they were about to be out of jobs. The entire presentation is worth watching but most of his comments regarding real estate begin at the fourth video (Above video is the intro and the remaining 7 appear below.)
Mr. Schiff, an advocate of Austrian Economics and former Ron Paul presidential campaign advisor, is the author of "Crashproof: How to profit from the coming economic collapse." He has appeared on CNBC, CNN, FBN, Bloomberg, CBS and other networks. CNBC has called him "Dr. Doom" and he is still criticized by the mainstream financial pundits despite his correct predictions of the tech and mortgage bubbles. In 2006, Peter Schiff, President and Chief Global Strategist of Euro Pacific Capital, spoke at the Western Regional Mortgage Bankers A... more -
Foreclosures rise 48% in May as repossessions double
"Banks repossessed twice as many homes in May and foreclosure filings rose 48 percent from a year ago as falling house prices trapped borrowers in mortgages they couldn't afford, RealtyTrac Inc. said in a report today.
One in every 483 U.S. households either lost the home to foreclosure, received a default notice or was warned of a pending auction, RealtyTrac said. That was the highest rate since the Irvine, California-based company began reporting in January 2005 and the 29th consecutive month of year-over-year increases. Nevada, California and Arizona posted the highest rates in the U.S. and New Jersey entered the top 10.
``It's definitely a different kind of market than what we got used to a couple years ago,'' said Devin Reiss, owner of Realty 500 Reiss Corp. in Las Vegas. ``We used to sell homes in a day. Now 50 percent of our sales are foreclosures".''
Full story at link.
By Bob Ivry// Bloomberg
Photo by Jin Lee// Bloomberg News "Banks repossessed twice as many homes in May and foreclosure filings rose 48 percent from a year ago as falling house prices tra... more -
Housing crisis hits high-end neighborhoods
Across the country, real estate agents and home sellers in wealthy neighborhoods who grew accustomed to seven-figure bidding wars during the boom are feeling the sting of the housing crunch.
Ed McMahon, the former Johnny Carson sidekick and TV pitchman, recently saw his $5 million Beverly Hills home go into foreclosure.
Three of the nation's richest zip codes saw particularly steep home-price declines in the three months ending April 30, compared with the previous three months.
In Palm Beach, Fla. (zip code 33480), median home prices fell 38% during that period, according to the real estate Web site Trulia. Prices in Greenwich, Conn. (06831), dropped 15%, while homes in Wayzata, Minn. (55391), are selling for 28% less. Prices in other wealthy towns also declined: Gladwyne, Penn. (19035), was down 6%, and Beverly Hills (90210), Lincoln, Mass. (01773), and Ladue, Mo. (63124), each slid 2%.
In Beverly Hills, filings nearly doubled to 41 in the first four months of this year, up from 22 in the same period last year, according to RealtyTrac, which compiles foreclosure stats. In Palm Beach, there were 34 foreclosure filings, up from 9 in the period a year ago. Greenwich had 23, up from 10, while Wayzata had 18, compared with 14 a year ago. Kenilworth, Gladwyne and Medina had just one each, while Lincoln had none. Across the country, real estate agents and home sellers in wealthy neighborhoods who grew accustomed to seven-figure bidding wars duri... more -
UK housing tenants could be forcefully evicted
Increasing amount of landlords in the UK hit by the credit crisis are having their properties repossessed.
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Rent-o-meter!
You can go here and see if you're paying too much or getting a rad deal!
Aside from the fact that I really want a HOUSE, I'm apparently getting more for my money than most. You can go here and see if you're paying too much or getting a rad deal! ... more -
Real Estate Can Kill You.
Take a risk or steer clear of the bursting bubble? What we learned buying a home could save you a headache. Here's our Real Estate 101. Take a risk or steer clear of the bursting bubble? What we learned buying a home could save you a headache. Here's our Real Est... more
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Cost of Living Index for Selected U.S. Cities
Cost of living is actually increasing nationwide. The link takes you to the cost of living index for major American cities, while the image here shows this graphically, with red showing the most expensive areas. What's the situation where you live? Cost of living is actually increasing nationwide. The link takes you to the cost of living index for major American cities, while the ... more
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A Bay Area couple with two kids can't make it on $50,000 a year
The hard truth is that $53,000 a year doesn't cut it anymore in the Bay Area. Tens of thousands of working families in the region, even those with what many would consider decent-paying jobs, find a modestly comfortable standard of living is out of their reach.
A family of four in the Bay Area with two working adults must earn $77,069, equaling an hourly wage of $18.53, just to pay for basic necessities, a study released today calculates. The hard truth is that $53,000 a year doesn't cut it anymore in the Bay Area. Tens of thousands of working families in the region... more
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Housing Prices
