AMERICAN SURVIVAL WEEKLY NEWS
A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages: he chooses between life and death.
A society that chooses between capitalism and socialism does not choose between two social systems: it chooses between social cooperation and the disintegration of society. Socialism is not for an alternative to capitalism; it is an alternative to any system under which men can live as human beings." Ludwig Von Mises
Gov't to sell $67B in Treasury securities next week as part of quarterly refunding
WASHINGTON (AP) - The government says it will sell $67 billion in Treasury securities next week as part of its regular quarterly refunding auctions. The Treasury Department also announced Wednesday that it will buy back a small amount of securities from market dealers in the fourth quarter to test the computer systems for such transactions. Treasury said it will sell $27 billion in 3-year notes, $24 billion in 10-year notes and $16 billion in 30-year bonds in the auctions next Tuesday, Wednesday and Thursday.
The money raised would be part of the $192 billion that Treasury expects to borrow in the July-September quarter to keep the government operating. That amount is $22 billion higher than previous estimates. The government is borrowing less than in recent years, however, as the economy has recovered and tax revenues have increased.
Is it really t he economy that has recovered or is it the stock market with increased capital gains that have improved the tax revenue??
Trade deficit
The trade deficit fell 7 percent in June to a seasonally adjusted $41.5 billion, from $44.7 billion in May, the Commerce Department said Wednesday.
Exports rose 0.1 percent to $195.9 billion, a record high. Imports fell 1.2 percent, the most in a year, to $237.4 billion. Imports of petroleum products fell, cutting the trade deficit in petroleum to its lowest in four years.
The unexpected decline suggests that growth may have been stronger in the second quarter than the government initially estimated.
A lower trade deficit can boost economic growth when it shows Americans are buying more U.S. products and fewer overseas goods.
The economy grew at a 4 percent annual rate in the April-June quarter, the government said last week. But that figure included an estimate of the June trade deficit that was higher than Wednesday's figure.Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note to clients that the deficit figures indicate growth may have been as high as 4.3 percent in the second quarter. The government will revise its figure for the April-June quarter later this month.Imports surged in the first four months of this year, pushing the trade deficit to a two-year high in April. A slowdown in imports was likely after the surge, economists said.June's decline comes after the trade deficit was a huge drag on the economy earlier this year, slowing growth by 1.7 percentage points in the first quarter. The economy shrank at a 2.1 percent seasonally adjusted annual rate in that quarter, the worst showing since the recession.But the government estimates that the trade gap was a much smaller drag in the second quarter, subtracting 0.6 percentage points from growth.
The trade deficit has widened in the first six months of this year to $260 billion, up from $242.7 billion in the first half of 2013. While exports have increased, imports have risen even more. But higher imports suggest that consumers and businesses are spending more.In 2013, the trade deficit declined by 11.4 percent. That reflected in part a boom in U.S. energy production that cut into America's dependence on foreign oil, while boosting U.S. petroleum exports to a record high. The nation's trade balance in oil has continued to improve this year. The U.S. had a petroleum trade deficit of $105.3 billion in the first half of this year, down from $125.7 billion last year.The U.S. deficit with the 28-nation European Union narrowed 9 percent in June from May to $11.2 billion, as exports to the region rose and imports fell. The gap with China, however, increased 4.5 percent to $30.1 billion, as exports rose but imports increased by much more
Poll: Americans want good highways, bridges but don't agree on how to pay for them
WASHINGTON (AP) - Small wonder Congress has kept federal highway and transit programs teetering on the edge of insolvency for years, unable to find a politically acceptable long-term source of funds.
The public can't make up its mind on how to pay for them either. Six in 10 Americans think the economic benefits of good highways, railroads and airports outweigh the cost to taxpayers. Yet there is scant support for some of the most frequently discussed options for paying for construction of new roads or the upkeep of existing ones, according to a new Associated Press-GfK poll.
Among those who drive places multiple times per week, 62 percent say the benefits outweigh the costs. Among those who drive less than once a week or not at all, 55 percent say the costs of road improvement are worthwhile.
At US-Africa summit, Obama to announce that US companies will invest $14 billion in Africa
WASHINGTON (AP) - President Barack Obama is announcing $14 billion in commitments by U.S. businesses to invest in the continent of Africa. Obama plans to make the announcement Tuesday at the U.S.-Africa Business Forum in Washington.
The forum is bringing together African heads of state and American business leaders to find ways to boost economic ties. It comes on the second day of a U.S.-Africa summit involving nearly 50 African heads of state. The White House says the investments include industries like construction, banking, information technology and energy. Former New York Mayor Michael Bloomberg and Commerce Secretary Penny Pritzker are also participating in the forum, along with companies like Chevron, IBM and Mastercard. Obama plans to host the heads of state for dinner on the South Lawn of the White House Tuesday evening.
Obama signs $225 million package to replenish Israel's Iron Dome missile defense system
WASHINGTON (AP) - President Barack Obama signed a bill Monday granting an additional $225 million in U.S. taxpayer dollars for Israel's Iron Dome missile defense system. The defense system has been highly effective in the current round of violence between Israel and Hamas militants in the Gaza Strip. It allows Israel's military to shoot down incoming rockets or mortars headed toward major population centers in Israel. Israeli officials say it has a success rate as high as 90 percent. The U.S. has provided hundreds of millions of dollars for Iron Dome in the past. The new package is intended to replenish Israel's capabilities. Congress approved the money last week before lawmakers left for their annual summer break. Obama signed the bill in the late afternoon in the Oval Office with a handful of photographers present.
THIS IS WHY YOU BUY GOLD AND SILVER......
$7,060,259,674,497.51--Federal Debt Up $7 Trillion Under Obama
(CNSNews.com) - The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president.
That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined, and it is more debt than was accumulated in the first 227 years of this nation's existence--from 1776 through 2003.
The total federal debt first passed the $7-trillion mark on Jan. 15, 2004, after President George W. Bush had been in office almost three years.
When President Obama took office on Jan. 20, 2009, the total federal debt was $10,626,877,048,913.08. As of the close of business on July 30, 2014, it had risen to $17,618,599,653,160.19--up $6,991,722,604,247.11 from Obama's first inauguration day.
By the close of business on July 31, 2014, it had risen to $17,687,136,723,410.59-up $7,060,259,674,497.51 since Obama first inauguration day.
As of June, there were 115,097,000 households in the United States, according to the U.S. Census Bureau. The $17,687,136,723,410.59 in debt the federal government had accumulated as of the end of July equaled $153,671.57 per household.
The $7,060,259,674,497.51 in new debt that the federal government has taken on during Obama's presidency equals $61,341.82 per household.
The median household income in the United States in 2012 (the latest year estimated) was $51,017. Thus, President Obama has increased the federal debt by more than the typical household's annual income.
President Barack Obama said that the fancy homes and corporate jets of the rich don't bother him.
In an interview with The Economist last week the President said when he brings up income inequality, he's not trying to "stir class resentment" like his political opponents say.
"Feel free to keep your house in the Hamptons and your corporate jet ... I'm not concerned about how you're living," he said.
However, he said he obsesses with the fact that under his watch those at the top are getting a larger and larger share of the economy, whereas middle-class and working-class families are stuck.
"Their wages and incomes are stagnant. They've been stagnant for almost two decades now," he said.
Obama started his presidency amid the worst recession since the Great Depression, and he pointed out how much the country has improved since then.
"Our policies have produced a record stock market, record corporate profits, 52 months of consecutive job growth, 10 million new jobs ... an energy sector that's booming ... a housing market that has bounced back ... I think you'd have to say that we've managed the economy pretty well," he said.
Obama agreed that both his signature acts - healthcare and financial reform - could have been simpler. But he admitted elegance was hard to achieve in Washington.
"This goes back to the old adage of Churchill-democracy is the worst form of government except for all the alternatives," he said. "It's messy."
US officials return ancient coins to Greek government; prominent collector prosecuted
NEW YORK (AP) - Some ancient coins were returned to the government of Greece on Monday after the New York prosecution of a prominent collector from Rhode Island.
Manhattan District Attorney Cyrus R. Vance Jr. and Greek officials held a ceremony marking the repatriation of coins dating to 500 B.C."
The coins being returned to us by the New York County district attorney are exquisite ancient artifacts that reflect Greece's culture, history and enduring strength," said Ambassador Christos Panagopoulos. "Back home, where they belong, they will be displayed - with the gratitude of the Greek people to the DA - for all to admire, our citizens and visitors to Greece alike."
The coins were part of a case against Rhode Island hand surgeon and coin aficionado Dr. Arnold-Peter Weiss, whose January 2012 arrest during a coin auction at the Waldorf-Astoria hotel roiled the numismatic world.
An orthopedics professor at Brown University's Alpert Medical School and author of a hand-surgery textbook, Weiss also had been on a coin collector and investor for 35 years and had served as on the board of the American Numismatic Society.
He later pleaded guilty to attempted criminal possession of stolen property. Those charges involved three coins he thought were fourth century B.C. Greek pieces that had been illegally taken from Italy - but were actually forgeries, prosecutors said.
Weiss was aiming to sell one of them for about $350,000 and two others for about $1.2 million apiece, prosecutors said. Weiss also forfeited his interest in about 20 other coins as part of his plea agreement, which also required him to do 70 hours of community service and write an article about the problem of trading in coins of uncertain origin.
His prosecution furthered a series of court cases and disputes over collecting and trading in objects that Italy and other countries consider looted pieces of their cultural patrimony.
Institutions including the Metropolitan Museum of Art in New York and the J. Paul Getty Museum in Los Angeles have agreed to return various items to Italy. A former Getty assistant curator was criminally prosecuted in Rome, but the trial ended in 2010 with a judge saying the statute of limitations had expired.
Other countries, including Turkey and Greece, also have taken action in recent years to reclaim antiquities.
Texas abortion providers tell judge that 18 clinics set to close if disputed law takes effect
AUSTIN, Texas (AP) - Nearly three-quarters of Texas' abortion facilities would be forced to close by the end of this month if one of the nation's toughest new anti-abortion laws is allowed to take effect, attorneys for clinics challenging the law told a federal judge Monday. U.S. District Judge Lee Yeakel in Austin will rule on the latest challenge to the sweeping abortion restrictions that Texas' Republican-led Legislature passed last year. Attorney General Greg Abbott, a Republican who is the favorite to become governor next year, is defending the restrictions. The trial began as a federal judge in Alabama on Monday blocked a law in that state requiring doctors at abortion clinics to have hospital admitting privileges. There are currently 18 abortion clinics operating in Texas. All of them would close if Yeakel upholds a law set to take effect Sept. 1 that would require the clinics to meet the same standards as ambulatory surgical centers.
U.S. economic data released Thursday included the weekly jobless claims report
First-time weekly jobless claims in the U.S. fell by 14,000 to a seasonally adjusted 289,000 during the week to Saturday, the Labor Department said Thursday.
The tally was below consensus expectations compiled by various news organizations for new claims of somewhere between 300,000 and 315,000.
The government revised up the prior week's tally for initial jobless claims to 303,000 from the originally reported 302,000.
This week the U.S. dollar index traded at its highest levels since September 2013, as improving economic news and geopolitical events supported the greenback.
Is this the real reason people had to die in both Israel and the Gaza???? Is this why we are giving millions of dollar more to Israel for their Iron Domes?
European nations pressing for Gaza port development as part of reconstruction plans
BRUSSELS (AP) - A European idea (Oh...Gee....here is idea...it just dawned on us on how to help those poor gaza folks) to help end the devastating conflict in Gaza is gaining traction: Develop Gaza's port to reopen the besieged territory to the rest of the world through a Cypriot port, with international monitors assuring that no weapons get through. Across Europe, governments are warming (isn't that special) to the proposal that gives a 27 mile strip on Israel's southern border such an economic lifeline. After all, Gaza was a thriving port in ancient times. From Berlin to London to the European Union headquarters in Brussels, a blueprint for a post-war Gaza centers both on meeting Israeli security needs and on developing Gaza to improve living conditions there. The latter implies that borders with neighbors Israel and Egypt - and the sea - be as transparent as conditions allow. (We can build hotels and casinos and become more wealthy all in the name of
Draghi: ECB Remains Ready To Act As Necessary, Rates To Be Low For 'Extended Period'
No surprise
European Central Bank President Mario Draghi said Thursday that existing monetary accommodation should get the eurozone economy back on track, but he also reiterated the governing council's willingness to do more if necessary, adding that interest rates will remain low for an extended time.
"Our monetary policy stance remains and will remain accommodative," he continued. "I can only reaffirm that the governing council is unanimous in its commitment towards the use of unconventional measures like ABS purchases, like QE, if our medium-term outlook for inflation were to change."
He was referring to asset-backed securities purchases, often referred to as quantitative easing. Other nations, including the U.S. and Japan, have undertaken QE to help push down long-term interest rates and jump-start the economy.
(and see how well it is stimulating the economy)
In his opening remarks, Draghi said "available information remains consistent with our assessment of a continued moderate and uneven recovery of the euro-area economy, with low rates of inflation and subdued monetary and credit dynamics. At the same time, inflation expectations for the euro area over the medium to long term continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2%." ( Draghi must have the same speech writer as our own Federal reserve....each meeting all they have to do is change names....)
A Reuters/Ipsos poll shows Americans are deeply worried that illegal immigration is threatening the nation's culture and economy
Seventy percent of Americans - including 86 percent of Republicans - believe undocumented immigrants threaten traditional U.S. beliefs and customs, according to the poll.
The findings suggest immigration could join Obamacare - the healthcare insurance overhaul - and the economy as hot button issues that encourage more Republicans to vote in November's congressional election.
With Congress failing to agree on broad immigration reforms, Obama could act alone in the next few weeks to give work permits to up to 5 million undocumented immigrants and delay some deportations, according to media reports.
63 percent of people in the online survey also said immigrants place a burden on the economy.
45 percent of people in the poll, carried out between July 15-22, who said the number of immigrants legally allowed to enter the country should be reduced.
Only 17 percent thought more legal immigrants should be allowed to come to the United States. Thirty-eight percent said the number should stay the same.
A separate Reuters/Ipsos online poll shows that voters see immigration as the third most important problem facing the nation. Respondents in a Gallup poll in July cited immigration as the No.1 problem, ahead of the economy.
Reuters/Ipsos poll of mid-July. Seventy-six percent of people in the region said undocumented immigrants threaten American beliefs and customs, compared to 70 percent nationally.
Detroit mayor announces redesigned bill collection plan to reduce mass water service shutoffs
Detroit's mayor says the city will provide financial help for water customers in an effort to reduce mass service shutoffs that were the subject of protests and widespread criticism, including from the United Nations.
Mayor Mike Duggan made the announcement Thursday at City Hall. His office and Detroit water officials spent days redesigning how collections will be handled. Detroit had been cutting off water to commercial and residential customers 60 days behind or owing more than $150. Several groups appealed to the U.N. for support, and three U.N. experts responded the shutoffs could constitute a violation of the human right to water.
More than 15,000 customers had service cut between March and June, although many have had it restored. Shutoffs have been halted until Aug. 25.
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