Watch it all.

Filed under: * Culture-Watch • Blogging & the Internet • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life • Taxes

So guess who designed the website and branding for The Ordinary Restaurant? Local whizzes Fuzzco. Check it all out here and their blog is there.

Filed under: * Culture-Watch • Blogging & the Internet • * Economics, Politics • Economy • Corporations/Corporate Life • * South Carolina

The Ordinary Restaurant. We ate here for Elizabeth graduation celebration--oh my goodness it was wonderful. Check it out.

Filed under: * Culture-Watch • Dieting/Food/Nutrition • * Economics, Politics • Economy • Corporations/Corporate Life • * South Carolina

About 41 percent of master’s of divinity graduates expect to pursue full-time church ministry, down from 52 percent in 2001 and from 90-something percent a few decades ago, according to the Association of Theological Schools, the country’s largest such group.

Americans, particularly young ones, are becoming less religiously affiliated, and many see churches as too focused on internal politics and dogma and not enough on bettering the outside world. Institutional religion doesn’t have the stature it once did, and pastor jobs are fewer and less stable.

The skepticism about religious institutions has led to a broadened concept of what it means to minister. Like Allen, seminary graduates today use the words “ministry” and “calling” to describe their plans to employ their understanding of theology in a new career or to use their degrees to bring more purpose to what they are already doing. And seminaries are busily trying to accommodate them, creating new degrees for careers in such areas as urban ministry and psychology.

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Filed under: * Christian Life / Church Life • Parish Ministry • * Culture-Watch • Religion & Culture • * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • * Theology • Seminary / Theological Education

Christine Lagarde, the IMF managing director, captured a sense of fragmentation last month when she spoke of a “three-speed” global economy. On this week’s evidence, however, there are even more speeds than that.

Falling commodity prices and a rising dollar show the broad picture: the global outlook is weakening a little and becoming more dependent on the US. For every country putting out good news, such as Japan, there are weaker data elsewhere – for example in China.

It is a global economy that lacks a strong source of demand growth.

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Filed under: * Culture-Watch • Globalization • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • * International News & Commentary • America/U.S.A. • Asia • England / UK • Europe

Barclays has "repeatedly let down society" and needs to clean up its culture in the wake of the £290m fine for rigging Libor, the Church of England said on Wednesday

The annual investment report by the Church Commissioners shows that the discussions with Barclays will be reviewed in July, a year on from the interest rate scandal that led to the departure of the chairman Marcus Agius, the chief executive Bob Diamond and chief operating officer Jerry del Missier.

In the report the commissioners, working with the Ethical Investment Advisory Group (EIAG), said they had "commenced an intensive engagement with Barclays seeking robust assurance that, having repeatedly let down society with its conduct, Barclays is making a determined and successful effort to effect a fundamental turnaround in culture".

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Filed under: * Anglican - Episcopal • Anglican Provinces • Church of England (CoE) • * Culture-Watch • Religion & Culture • * Economics, Politics • Economy • Corporations/Corporate Life • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • * International News & Commentary • England / UK • * Theology • Ethics / Moral Theology

The Palmetto State has stars in its eyes.

Film industry professionals Thursday celebrated a new law they think will expand their industry in South Carolina.

Richard Futch, former casting director for the TV show “Army Wives,” said the Film Rebates Bill, which was passed by the Legislature and signed into law last week by Gov. Nikki Haley, makes South Carolina competitive with neighboring Georgia and North Carolina.

The new law, which provides incentives to filmmakers, will bring more movie and TV productions to the state, he said.

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Filed under: * Culture-Watch • Movies & Television • * Economics, Politics • Economy • Corporations/Corporate Life • * South Carolina

Spring may have sprung, but not all economists are sprightly about the outlook for the global economy.

In fact, as a Toronto audience heard Wednesday morning, the risk of a recession in Canada is “higher than normal,” the U.S. is set for “unspectacular” growth, Europe is poised for another downturn and even the BRIC countries will not be the economic drivers they had been in the past decade.

Those are the views of one of the more Eeyore-ish research firms around: London-based Capital Economics, whose conference Wednesday was entitled: “Is the world on the road to recovery?” (The answer: Sort of. But it will be a “long and fairly bumpy” road, one in which Europe is in danger of veering off).

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Filed under: * Culture-Watch • Globalization • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Housing/Real Estate Market • Labor/Labor Unions/Labor Market • * International News & Commentary • Africa • America/U.S.A. • Asia • Canada • England / UK • Europe

Sandra Duck thinks she’s the victim of an undeclared Medicaid boycott. And she’s probably right.

When her artificial right hip became infected with the superbug MRSA in late 2009, Dr. Dale Mitchum, a general surgeon, drained, cleaned and closed the infected area. But when the infection returned in early 2010, Mitchum knew Duck needed another hip replacement surgery, which he couldn’t perform. He tried to find an orthopedic surgeon who would operate. More than a year later, he’s still trying.

“I cannot find a living soul that will touch her,” he said recently. “And I’ve tried everywhere, from Tallahassee to Pensacola.”

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Filed under: * Culture-Watch • Health & Medicine • --The 2009 American Health Care Reform Debate • Law & Legal Issues • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Personal Finance • The U.S. Government • Medicaid • * Theology • Ethics / Moral Theology

Google is set to introduce a subscription music feature to compete against fast-growing new streaming services like Spotify, according to several people briefed on its plans.

Google is planning to introduce the new service on Wednesday at Google I/O, the company’s annual conference for software developers. The subscription feature will be connected to Play, Google’s online media hub, complementing its download store and “locker” feature, which lets people store their digital entertainment collections in the cloud, according to these people, who spoke on condition of anonymity before Google’s official announcement.

News of the announcement first appeared on The Verge. A Google spokeswoman declined to comment.

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Filed under: * Culture-Watch • Blogging & the Internet • Music • Science & Technology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life

"We are very excited to expand our relationship with Google and Charleston Digital Corridor to offer residents and visitors several hotspots to connect to the Internet," said Charleston Mayor Joseph Riley. "Having this Wi-Fi network makes life easier for people doing business here and helps our tourists find the attractions they want to visit. And in the case of the trekker, get a sneak peek of the places before you visit. It's all done at no cost to the taxpayer."

A Google community grant to the Charleston Digital Corridor supports the Wi-Fi network, and the project uses no public funds. The Charleston Digital Corridor Foundation is responsible for maintaining the network.

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Filed under: * Culture-Watch • Blogging & the Internet • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life • * South Carolina

They come in all shapes and sizes, claiming a dizzying variety of capabilities. They date back decades, or just a year or two. And when you think there couldn’t possibly be much more than 50 marketing agencies in this relatively small town, another one seems to pop up.

Public relations, advertising, web marketing, however you want to “brand” it, digital media is a growth industry in 2013 Charleston.

While not entirely new, the prevalence of do-it-all media shops is becoming hard to miss. What’s behind the message machine?

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Filed under: * Culture-Watch • Blogging & the Internet • Media • * Economics, Politics • Economy • Corporations/Corporate Life • * South Carolina • * Theology

Hospitals around the Lowcountry are billing Medicare at vastly different prices for the exact same procedures, according to data published Wednesday by the federal government.

For example, in 2011, Trident Medical Center billed Medicare an average $98,352 to insert a permanent pacemaker, while the Medical University of South Carolina billed $38,902 for the same surgery.

Read it all from the local paper.

Filed under: * Culture-Watch • Health & Medicine • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • The U.S. Government • Medicare • * South Carolina

(Please note that you may find an earlier discussion of the importance of U-6 as a measure of the real labor market situation in this blog post and discussion from Februaryl--KSH).

Voluntary plus involuntary part-time employment rose by a whopping 441,000 jobs. Take away part-time jobs and there is not all that much to brag about. Indeed, full-time employment fell once again, this month by 148,000.

Read it all and there is another article there. For the table of all six employment/unemployment measures, you may go there.

Filed under: * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • * International News & Commentary • America/U.S.A. • * Theology • Anthropology • Ethics / Moral Theology

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Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * South Carolina

Speaking at a gathering of digital advertisers in New York City last night, Mr Schmidt refused to forecast when internet video would displace television, instead declaring: "That's already happened."

"It's not a replacement for something that we know," he added. "It's a new thing that we have to think about, to program, to curate and build new platforms."

YouTube recently surpassed the milestone of a billion unique users a month. Only the Google search engine and social network Facebook are frequented more often by those browsing the internet worldwide.

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Filed under: * Culture-Watch • Blogging & the Internet • Movies & Television • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life

Employers kept hiring at a steady pace in April and the government revised up job tallies for February and March, easing fears that the economy is tumbling into a spring slump and propelling blue-chip stocks to record highs.

Nonfarm payrolls rose by 165,000 last month and the jobless rate ticked down to 7.5%, the lowest level since December 2008. The Labor Department also significantly raised hiring estimates for the two prior months, by a combined 114,000 jobs.

But the job gains in April, which were tilted toward the retail and business-services sectors, come alongside mixed signals for the economy almost four years into the recovery. While the housing and auto sectors are accelerating after years of industry turmoil, other major sectors are showing signs of trouble. In short: The Federal Reserve is looking for more broad-based and sustained job growth before easing up on its easy-money policies.

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Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • Personal Finance • Stock Market • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • Federal Reserve

Many part-timers are facing a double whammy from President Obama's Affordable Care Act.

The law requires large employers offering health insurance to include part-time employees working 30 hours a week or more. But rather than provide healthcare to more workers, a growing number of employers are cutting back employee hours instead.

The result: Not only will these workers earn less money, but they'll also miss out on health insurance at work.

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Filed under: * Culture-Watch • Health & Medicine • --The 2009 American Health Care Reform Debate • Law & Legal Issues • * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • Personal Finance • * International News & Commentary • America/U.S.A. • * Theology • Ethics / Moral Theology

The economy lurched this spring into an even lower gear, from manufacturing to services to construction, leaving the Federal Reserve poised to prolong or expand its bond-buying stimulus.

Central bankers Wednesday kept benchmark rates near zero and quantitative easing purchases at $85 billion a month. But changes in their statement highlighted shifting emphasis.

"The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes," it said.

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Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Housing/Real Estate Market • Labor/Labor Unions/Labor Market • The U.S. Government • Federal Reserve • * International News & Commentary • America/U.S.A.

The British public hold Google and religious institutions in equally low regard, with less than one in five saying they believe the search giant and faith leaders have their best interests at heart.

By contrast, almost 40 per cent said they thought the NHS put their needs first, the highest scoring institution on the list, followed by the police, who have the confidence of more than a quarter of Britons.

And in a secular world of Sunday shopping, Tesco and Sainsburys were ranked as more trustworthy than religious groups, with 19 per cent saying they trusted supermarkets, compared with just 17 per cent for Google and religious institutions.

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Filed under: * Anglican - Episcopal • Anglican Provinces • Church of England (CoE) • * Culture-Watch • Religion & Culture • * Economics, Politics • Economy • Corporations/Corporate Life • * International News & Commentary • England / UK

Mr. [Reed] Hastings said he realized that the company’s attempt to both raise prices and separate into two companies, one the legacy DVD-by-mail business and the other the up-and-coming broadband streaming business, was trying to do too much too fast. Angry subscribers abandoned the company in droves (800,000 in the fourth quarter of 2011 alone), revenue missed estimates and the stock plunged.

“I messed up,” Mr. Hastings wrote in an unusually forthright September 2011 blog post. Citing the precedents of AOL and Borders Books, which struggled or failed to make the digital transition, “my greatest fear at Netflix has been that we wouldn’t make the leap from success in DVDs to success in streaming.” But in the rush to accelerate the transition, he wrote, “In hindsight, I slid into arrogance based upon past success.” He also made a video apology.

Mr. Hastings said he didn’t expect the apology alone to “turn it around,” adding, “I wasn’t naïve enough to think most customers care if the C.E.O. apologizes, but I thought it was honest and appropriate.”

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Filed under: * Culture-Watch • Blogging & the Internet • History • Movies & Television • Psychology • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life

Justin Welby, the new leader of nearly 80m Anglicans around the world, has won a respectful hearing for his ideas on banking and the British economy. Even if they disagree with the details, people have generally not reacted by saying "this man hasn't a clue what he is talking about" or "he should go back to singing hymns."

On April 21st, the archbishop of Canterbury suggested that big, unhealthy banks should be broken up into regional ones, as part of a "revolution in the aims" of banks designed to make sure that they served society as well as their own narrow interests. That sounded very like the proposal made last month by Ed Miliband, the Labour leader, for local lenders modelled on the German system. It comes at a time when the government faces hard decisions about the future of the Royal Bank of Scotland after its rescue by the tax-payer. Given the immediacy of the issue, some people will accuse the archbishop (who lists his hobbies as French culture, sailing and politics) of making narrow political points rather than broad moral ones.

But he also had some longer-term ideas on the financial sector. Drawing on his experience as a member of a parliamentary Banking Standards Commission, he said senior positions in banking ought to form a regulated profession which required qualifications.

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Filed under: * Anglican - Episcopal • Archbishop of Canterbury • --Justin Welby • * Culture-Watch • Religion & Culture • * Economics, Politics • Economy • Corporations/Corporate Life • Credit Markets • Currency Markets • Stock Market • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • * Theology • Ethics / Moral Theology

Speaking on Radio 4... [on Saturday], the Archbishop of Canterbury stressed the implications of Christian ethics for the City of London

The Christian Gopsel has "always had strong social implications" and been concerned with "the common good", the Archbishop of Canterbury said....

In an interview for Radio 4's Week in Westminster, Archbishop Justin said his main mission wasn't to inject morality back into British business. But he said that how the City of London - which “is so important and so full of very gifted people” – behaves in relation to the common good is a major concern not just for the Church but for society generally.

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Filed under: * Anglican - Episcopal • Archbishop of Canterbury • --Justin Welby • * Culture-Watch • Religion & Culture • * Economics, Politics • Economy • Corporations/Corporate Life • Credit Markets • Currency Markets • Stock Market • The Banking System/Sector • * International News & Commentary • England / UK • * Theology • Ethics / Moral Theology

Justin Welby, the archbishop of Canterbury, laughs when it is suggested that he has a mission to raise moral standards in the City. “My key mission is to lead the Church in worshipping Jesus Christ,” he says.

He points out, however, that Christian teaching concerns the “common good”, and he is concerned about “how the City of London, which is so important and so full of very gifted people”, relates to this concept.

Dr Welby is in a unique position to do something about it. Outside the cathedral he enjoys two political pulpits from which to shape the debate: in the House of Lords and on the cross-party parliamentary banking commission.

Read it all (another link ).

Filed under: * Anglican - Episcopal • Archbishop of Canterbury • --Justin Welby • * Culture-Watch • Religion & Culture • * Economics, Politics • Economy • Corporations/Corporate Life • Credit Markets • Currency Markets • Stock Market • The Banking System/Sector • * International News & Commentary • England / UK • * Theology • Ethics / Moral Theology

The City of London has been affected by a "culture of entitlement" at variance with what others think reasonable, the new Archbishop of Canterbury has said.

But the Most Reverend Justin Welby told the BBC business morality was in many ways much better than in the past.

He also defended his description of the UK's economic situation as a depression rather than a recession.

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Filed under: * Anglican - Episcopal • Archbishop of Canterbury • --Justin Welby • * Economics, Politics • Economy • Corporations/Corporate Life • Credit Markets • Currency Markets • Stock Market • The Banking System/Sector • * International News & Commentary • England / UK • * Theology • Anthropology • Ethics / Moral Theology

On Tuesday, “Pope Francis: His Life in His Own Words,” a book of conversations with the man who was then Cardinal Jorge Bergoglio, will be published in English (Putnam; $24.95). These interviews from 2010 with two journalists in Argentina yield cute facts about the new boss of the church — a favorite movie? “Babette’s Feast” — but not much interesting theology.

But one passage in the book, at first glance rather slight, ends up insinuating a radical note into the proceedings. On a close read, it seems that Pope Francis believes that we must — indeed, that God is calling us to — relax.

Responding to the question, “Do we need to rediscover the meaning of leisure?” Pope Francis replies: “Together with a culture of work, there must be a culture of leisure as gratification. To put it another way: people who work must take the time to relax, to be with their families, to enjoy themselves, read, listen to music, play a sport. But this is being destroyed, in large part, by the elimination of the Sabbath rest day. More and more people work on Sundays as a consequence of the competitiveness imposed by a consumer society.” In such cases, he concludes, “work ends up dehumanizing people.”

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Filed under: * Culture-Watch • Books • Religion & Culture • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * Religion News & Commentary • Other Churches • Roman Catholic • Pope Francis • * Theology • Anthropology • Ethics / Moral Theology

The U.S. economy expanded in the first quarter but failed to gather as much steam as expected, raising concerns of another year of sluggish growth.

Consumer spending advanced during the first quarter despite tax increases, but those gains were held in check by slowing business investment and government cutbacks.

The nation's gross domestic product, a measure of all goods and services produced in the economy, advanced at a 2.5% annual rate between January and March, the Commerce Department said Friday. Economists had forecast a 3.2% expansion.

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Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Housing/Real Estate Market • Labor/Labor Unions/Labor Market • Personal Finance • The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

This week, legislators here will consider excise and sales taxes on marijuana of up to 30 percent combined. The proposal emerged from a task force of health officials, representatives of the state’s rapidly developing marijuana industry and others that was commissioned last year to help develop rules for marijuana.

The goal, task force members and lawmakers say, is to set taxes high enough to finance the administration of new laws, but not so high that customers are driven back to the black market.

“We should see a financial benefit as a state that can help pay for enforcement and other fundamental issues,” said Christian Sederberg, a Denver lawyer on the panel whose firm helped draft Amendment 64, the measure legalizing recreational marijuana. “The other side is that if you tax something too high, then you simply crowd out the regulated market. We’re confident we’ll find the right balance.”

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Filed under: * Culture-Watch • Drugs/Drug Addiction • Health & Medicine • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Taxes • Politics in General • State Government

Check out this resource for your awareness and prayers.

Filed under: * Christian Life / Church Life • Parish Ministry • Death / Burial / Funerals • Spirituality/Prayer • * Culture-Watch • Charities/Non-Profit Organizations • Rural/Town Life • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life • * Religion News & Commentary • Other Churches • Evangelicals

Culture change in financial services will not be achieved by "light touch" or "heavy touch" regulation, Archbishop Justin said at a Westminster discussion organised by the Bible Society.

Instead the banking sector must adopt "an aim of service to society and not mere rent-seeking, and a culture of virtue based in the realities of daily life and not a fantasy nirvana," he said.

Describing what this change of culture might look like, the Archbishop said it would require "a ruthless honesty and a deep willingness to be made very uncomfortable indeed through listening to things one does not want to hear".

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Filed under: * Anglican - Episcopal • Archbishop of Canterbury • --Justin Welby • * Culture-Watch • Law & Legal Issues • Religion & Culture • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Credit Markets • Currency Markets • Euro • European Central Bank • Housing/Real Estate Market • Labor/Labor Unions/Labor Market • Personal Finance • Stock Market • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • Politics in General • * Theology • Ethics / Moral Theology

Imagine a world with machines that wash, press and dress you on the way to work and vacations via hologram visits to exotic beaches. In his new book, The New Digital Age, Google Executive Chairman Eric Schmidt does just that — but it's no gee-whiz Jetsons fantasy.

Schmidt partners up with Jared Cohen, a foreign policy counterterrorist specialist poached from the State Department now working for Google Ideas. Together they forecast a raft of new innovations and corresponding threats that will arise for dictatorships, techno revolutionaries, terrorists and you.

Cohen and Schmidt chatted with NPR's Audie Cornish about negotiating the shifting balance between privacy and security in a rapidly changing technological landscape.

Read or listen to it all.

Filed under: * Culture-Watch • Blogging & the Internet • --Social Networking • Books • Law & Legal Issues • Psychology • Science & Technology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * Theology • Ethics / Moral Theology

In March, 7.6 million Americans who want more hours were stuck in part-time jobs, about the same as a year earlier and three million more than there were when the recession began at the end of 2007.

These almost invisible underemployed workers do not count toward the standard jobless rate of 7.6 percent. A broader measure, which includes the involuntary part-timers as well as people who want to work but have stopped looking, stands at 13.8 percent.

“There’s nothing inherently wrong with people taking part-time jobs if they want them,” said Diane Swonk, chief economist at Mesirow Financial in Chicago. “The problem is that people are accepting part-time pay because they have no other choice.”

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Filed under: * Culture-Watch • Children • History • Marriage & Family • Psychology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • Personal Finance • The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

My read of the evidence is that the Affordable Care Act will have a much tougher first year than was initially anticipated but it won’t be the catastrophe that Republicans hope. The exceptions will be a handful of states where Republican governors have purposefully made it a catastrophe, but that’s likely to make the Republican governors look bad, particularly if the law is working smoothly in states that have tried to make it a success.

Conservative commentary on the law, with its continuous predictions of explosive premium hikes (and continuous omissions of the offsetting subsidies) and gleeful celebration anytime anything looks to be going wrong, is risking the mistake that the Obama administration made early on with the sequester. When the predictions of pain and chaos didn’t instantly come true, the whole narrative shifted in an instant.

Republicans have done a very good job prepping the country for the pain of Obamacare. They’ve not done a good job prepping the country for the people who will be helped by Obamacare.

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Filed under: * Culture-Watch • Health & Medicine • --The 2009 American Health Care Reform Debate • Law & Legal Issues • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • Personal Finance • The U.S. Government • Medicare • Politics in General • * Theology • Ethics / Moral Theology

[Archbishop Vincent] Nichols is hardly alone – and not wrong – in worrying that some businesses have ethical problems. The concern explains why business ethics has become a standard part of the curriculum in MBA programmes, and the existence of numerous initiatives to promote corporate social responsibility and other virtues. The main problem with these worthy efforts is blandness: it’s not clear what business ethics classes are supposed to teach or what, for example, should be the aim of the Westminster archdiocese’s programme “A Blueprint for Better Business”.

One possibility is that ethical instruction should induce qualms. Moral training might have restrained the captains of finance from excessive bets and pay demands before and after the 2009 crisis, but I doubt it.

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Filed under: * Culture-Watch • Education • Law & Legal Issues • * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • * Theology • Ethics / Moral Theology

At this time of year, when most Americans have just filed their returns, exasperation with the income tax system reaches a peak. Hardly anyone denies it's a complex mess. In 2010, calculating their taxes cost Americans $168 billion, estimates the Taxpayer Advocate Service of the Internal Revenue Service. That's about 15 percent of taxes collected — a heavy overhead. Almost 60 percent of taxpayers pay accountants or other tax preparers. Public esteem for the tax system is low; in a 2011 Pew poll, 55 percent judged it unfair. Disaffection was fairly even politically: 47 percent among Republicans, 58 percent among Democrats and 56 percent among independents.

So “tax reform” ought to be a cinch, right? Well, no.

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Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Housing/Real Estate Market • Labor/Labor Unions/Labor Market • Personal Finance • Taxes • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • The National Deficit • Politics in General • Office of the President • President Barack Obama • Senate • * International News & Commentary • America/U.S.A.

A lingering fog of uncertainty at the Boeing Co. campus in North Charleston lifted Friday when the Federal Aviation Administration agreed to clear the company’s 787 Dreamliners to fly again.

The revolutionary jet has been grounded since January because of batteries that overheated on two of the planes.

Flights could resume within a week, the Associated Press reported.

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Filed under: * Culture-Watch • Law & Legal Issues • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life • The U.S. Government • * South Carolina

The crowd that had gathered — lighting candles, offering prayers, crying as they tightly embraced family and friends — had streamed from the dimly lighted sanctuary of Assumption Catholic Church, but Kelly Nelson lingered behind.

“The people who we lost, these are people I know, I see on a daily basis,” Nelson said. “Knowing that I'm never going to see these people on the Earth again is very difficult for me to handle.”

On Wednesday night, a blast at a fertilizer plant rocked this small east-central Texas town. A day later Nelson and hundreds of others gathered in the red brick Assumption church. Nelson wasn’t the only one to stay behind after the service concluded. A pair of young men sobbed as they knelt before the altar. Others stared blankly forward as they sat in the pews. In a time when residents of West sought hard-to-find clarity, they are relying on faith.

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Filed under: * Culture-Watch • Religion & Culture • Rural/Town Life • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life • * Theology • Pastoral Theology • Theodicy

The bishop of the Episcopal Diocese of Western Massachusetts, which includes Worcester and surrounding communities, said today that he is against the proposal to locate at $200 million slots parlor on the former Wyman-Gordon Co. parcel in Green Island.

"For those who have little, the illusory chance that they can gain much, even in a game stacked against them, is tempting and ultimately destructive," said Bishop Douglas J. Fisher. "Our churches stand with the economically poor of our society, and that always means taking a stand against gambling establishments in our cities."

Bishop Fisher is the latest prominent church leader to take a stand against the proposal.


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Filed under: * Anglican - Episcopal • Episcopal Church (TEC) • TEC Bishops • * Christian Life / Church Life • Parish Ministry • Ministry of the Ordained • * Culture-Watch • Gambling • Poverty • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Personal Finance • * Theology • Ethics / Moral Theology

Commodity prices have been falling since September, culminating in a rout over the past two weeks. That is a classic warning for the global economy.

It is becoming ever clearer that the roaring boom in global equities since last summer has priced in an economic recovery that does not in fact exist. The International Monetary Fund has had to nurse down its global growth forecasts yet again. We are still stuck in an old-fashioned trade depression, with pervasive over-capacity in manufacturing plant and a record global savings rate of 25pc of GDP.

German car sales fell 17pc in March. That should puncture the last illusions that Germany is about to pull Europe out of a self-inflicted slump.

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Senate Finance Committee Chairman Max Baucus, one of the health reform law's chief authors, says he’s worried about a “huge train wreck coming down” if the Obama administration doesn’t improve its public outreach about the legislation.

Baucus, a Montana Democrat who is up for reelection in 2014, sharply criticized the administration’s outreach efforts in a budget hearing on Wednesday. He told Health and Human Services Secretary Kathleen Sebelius that people and businesses “have no idea what to do, what to expect” from the law.

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Filed under: * Culture-Watch • Health & Medicine • --The 2009 American Health Care Reform Debate • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Personal Finance • The U.S. Government • Medicare • Politics in General • Senate • State Government • * Theology • Ethics / Moral Theology

We have no way of knowing how this all ends. One problem is that the smartest solution—having Germany and perhaps a handful of other northern countries leave the euro for a new currency (the Deutche Mark 2.0, or a “neuro” for northern Europe)—would make life easier in the south. The south based euro would fall in value, but since debts and contracts are denominated in that currency, the adjustment would be the same as in a normal devaluation. This course would likely lead quickly to a new burst of growth in the south, though inflation and other problems would take a toll over time.

But the euro’s break up day would cause a lot of problems for Germany and its northern friends....

So we’re in an interesting situation. The crisis is crippling the south, but the south has no power to resolve the crisis. The crisis isn’t comfortable for the north but still looks less painful than the solution. So the north, which has the ability to resolve the crisis, doesn’t have the will to do it and the south, which has the will, lacks the ability.

Read it all (and please note that the Financial Times article by Wolfgang Münchau which is mentioned, entitled "The riddle of Europe’s single currency with many values," is indeed a must read as Mr. Read says).

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Currency Markets • Euro • European Central Bank • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • Foreign Relations • Politics in General • * International News & Commentary • Europe • --European Sovereign Debt Crisis of 2010

The powerful blasts at the Boston Marathon finish line Monday underscore why the Federal Bureau of Investigation has spent years refining its "tripwire'' system for catching would-be bomb makers before they can build a deadly device.

For years, federal agents have asked businesses that sell materials useful in making bombs to alert authorities to any suspicious orders. The types of tripwires in place have shifted over the years. In the 1990s, law enforcement worried mostly about fertilizer-based bombs after such devices were used in the Oklahoma City attacks of April 1995. In the past decade, chemical-based bombs have come into focus as authorities adapt to the changing threat.

"The tripwires have certainly been successful in the past,'' said Don Borelli, a former counterterrorism official at the FBI who now works for Soufan Group.

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Filed under: * Culture-Watch • Law & Legal Issues • Police/Fire • Urban/City Life and Issues • * Economics, Politics • Defense, National Security, Military • Economy • Consumer/consumer spending • Corporations/Corporate Life • The U.S. Government • Terrorism

To tax reform advocates, the federal tax code is a shambling behemoth, its immense girth weighing down corporations and Jane and Joe Taxpayer alike. The code is more than 4 million words long and has been tweaked 4,680 times since 2001, or more than once a day, according to the Internal Revenue Service's National Taxpayer Advocate, whose job is to champion the poor schlubs who have to contend with the US tax system. Compliance takes more than 6 billion person-hours a year and costs $168 billion, the advocate's office reports.

Tax expenditures – the sober name for myriad loopholes, carve-outs, and incentives in the code – shield almost as much in revenue, at just over $1 trillion, as the $1.4 trillion collected each year.

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Filed under: * Culture-Watch • Globalization • * Economics, Politics • Economy • Corporations/Corporate Life • Personal Finance • Taxes • The U.S. Government • Politics in General • House of Representatives • Office of the President • Senate • * Theology • Ethics / Moral Theology

The US Supreme Court is scheduled on Monday to take up a case with widespread implications for scientific innovation and health care in the US. The question: Are human genes patentable?

The issue arises in a challenge to patents held by Myriad Genetics, a Utah-based diagnostic testing and research firm that developed a way to detect genetic mutations (called BRCA1 and BRCA2) that scientists associate with a higher risk of breast and ovarian cancer.

The process is described by the company’s lawyers as akin to locating a particular grain of sand in a space the size of the Empire State Building. The tests have helped over a million patients identify risks and develop treatment strategies....

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Filed under: * Culture-Watch • Health & Medicine • Law & Legal Issues • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life • * Theology • Anthropology • Ethics / Moral Theology

American workers are being fired or laid off less often than at any time in the last decade, the government reported this week. But companies are also less willing to hire than they used to be.

The Labor Department’s Job Openings and Labor Turnover Survey for February showed that during that month the total number of people who were either discharged or laid off totaled just 0.9 percent of all job holders in the United States. It was the first month since that survey began in 2000 that the figure dipped below 1 percent.

Over the most recent 12 months, the Labor Department figures show, only 15.1 percent of workers lost their jobs because of layoffs or discharges. Until this year, the lowest figure for any 12 months had been 15.3 percent, during the period ending in September 2006. That came as the economic boom was cresting before the recession that began at the end of 2007.

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Filed under: * Culture-Watch • History • * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • Personal Finance • The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

France's experiment with the Tobin Tax has proved a spectacular flop. Its finance ministry admits that the scattershot levy on financial transactions has raised just a third of the money expected since August.

Total takings will be a paltry €800m in 2013, but that overlooks the much greater damage inflicted on French finance, industry and the government's own tax base. "France is shooting itself in the foot," said Paul-Henri de La Porte du Theil, head of French finance industry AFG.

Jean-Yves Hocher from Crédit Agricole said it would cost his company €17bn. One French banker told Les Echos that the tax was "a weapon of mass destruction that is going to ruin our financial sector".

Read it all.

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Stock Market • Taxes • * International News & Commentary • America/U.S.A. • England / UK • Europe • France

Rick Benisasia, who’s in the after-death business, is looking to build an empire.

Mr. Benisasia runs a South Asian-focused funeral home on Derry Road in Malton and wants to open a crematorium beside it. The land, money and demand is there, he says.

For more than three years, he’s waited for his rezoning application to be approved by the City of Mississauga. But a new Mississauga bylaw passed in March says new crematoriums must be a minimum of 300 metres from residential properties, due to concerns over the health effects from their emissions.

Read it all.

Filed under: * Christian Life / Church Life • Parish Ministry • Death / Burial / Funerals • * Culture-Watch • Law & Legal Issues • Religion & Culture • Urban/City Life and Issues • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * International News & Commentary • Canada

Boeing Co. said today it will invest another $1 billion and add at least 2,000 jobs at its North Charleston 787 campus by 2020, citing steep demand for commercial airplanes over the next two decades.

The company’s “phase two” growth plans are expected to be part of in a bill to be introduced around noon in the General Assembly in Columbia.

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Filed under: * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • * South Carolina

To hear Grier Allen tell it, BoomTown’s first office in the old Faber House on East Bay Street had rats.

Now several years on, the CEO’s workspace has a cinder block and glass brick wall and was once the seafood section of the former Jaber’s Market on Rutledge Avenue.

Moving a little over a mile in seven years, from live rodents to fish souls, might not scream success.

But Allen likes where he and his real estate software firm are. That’s because BoomTown has been covering ground in other ways. You might even say business is booming.

Read it all.

Filed under: * Culture-Watch • Science & Technology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Housing/Real Estate Market • * South Carolina

Yummy Mummy, a little boutique on New York's Upper East Side, has suddenly become a health care provider/online superstore. The company has been hiring like crazy, and just opened an online call center and a warehouse in Illinois. Yummy Mummy even hired somebody to talk to customers' health insurance companies.

And new moms now seem more likely to splurge on fancy new breast pumps. Caroline Shany, a Yummy Mummy customer, spent her own money to buy a breast pump for her first baby. She may buy another one now because insurance will pick up the tab.

"Why not?" she says.

Read or much better listen to it all.

Filed under: * Culture-Watch • Health & Medicine • --The 2009 American Health Care Reform Debate • Philosophy • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • Personal Finance • Politics in General

American employers hired at the slowest pace in nine months in March, a sign that Washington's austerity drive could be stealing momentum from the economy.

The economy added just 88,000 jobs last month and the jobless rate ticked a tenth of a point lower to 7.6 percent largely due to people dropping out of the work force, Labor Department data showed on Friday.

Analysts polled by Reuters had expected a gain of 200,000.

Read it all.

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government

MarketWatch: Since Nixon’s “abomination” as you call it, we have had some periods where government spending to GDP actually went down, like during the Clinton era. Doesn’t that show it’s just the choices made by Congress rather than the Fed to blame [for the problem of rising national debt as a % of GDP]?

Stockman: There is the issue that Congress ultimately is the fiscal authority. But my argument is, when the Fed becomes a massive buyer of bonds and debt and artificially suppresses interest rate below market-clearing levels, it’s a terrible signal to the Congress that debt is cheap, that running deficits is a viable strategy. So therefore they are induced to kick the can, to let it drift and avoid hard choices. Who wants to tell the public you are going to take your broccoli of higher taxes and lower benefits and spending if you can issue debt on a three-year basis for 40 basis points. That’s free. I was in Congress, they don’t do decimal math, OK? And they think the money is free, it’s a bad problem philosophically, we shouldn’t be doing this for the great long run, but it’s no harm today.

Then they have professors like Krugman who give them the disingenuous advice that the bond vigilantes don’t care. The market is saying, “fine with us, we don’t care, keep piling the debt on, we love it.” That is so much baloney. The reason the interest rate on the 10-year bond 10_YEAR -0.33% today is 1.8% or whatever it happened to settle today, is the market knows the Fed is buying half of the debt and is front running the Fed. And it is renting the bond on repo, 98 cents on the dollar, based on overnight money that’s free thanks to Bubbles Ben as well.

Read it all.

Filed under: * Culture-Watch • History • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Credit Markets • Currency Markets • The U.S. Government • Federal Reserve • The National Deficit • * International News & Commentary • America/U.S.A. • * Theology • Ethics / Moral Theology

The vast majority of U.S. businesses expanded at a slower pace, and private-sector firms hired less, adding to earlier warnings the economy is losing momentum.

The Institute for Supply Management said Wednesday its nonmanufacturing index fell to a seven-month low of 54.4 in March from 56 in February, indicating activity cooled off. Analysts expected it to remain steady. The report saw sharp decelerations in jobs, orders and exports.

ISM's factory gauge out Monday also showed slowing growth .

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Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Personal Finance • The U.S. Government

A new fight is brewing over health insurance companies letting millions of Americans renew their current coverage for another year — and thereby avoid changes under the federal healthcare law.

That may offer a short-term benefit for certain consumers and shield some of those individual policyholders from potentially steep rate increases. But critics say this maneuver could undermine government efforts to remake the insurance market next year and keep premiums affordable overall.

At issue is a little-known loophole in President Obama's landmark legislation that enables health insurers to extend existing policies for nearly all of 2014. This runs contrary to the widespread belief that all health insurance must immediately comply with new federal rules starting Jan. 1, when most provisions of the law take effect.

Read it all.

Filed under: * Culture-Watch • Health & Medicine • --The 2009 American Health Care Reform Debate • Law & Legal Issues • * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • The U.S. Government • Politics in General • State Government

Unable to meet tight deadlines in the new health care law, the Obama administration is delaying parts of a program intended to provide affordable health insurance to small businesses and their employees — a major selling point for the health care legislation.

The law calls for a new insurance marketplace specifically for small businesses, starting next year. But in most states, employers will not be able to get what Congress intended: the option to provide workers with a choice of health plans. They will instead be limited to a single plan.

This choice option, already available to many big businesses, was supposed to become available to small employers in January. But administration officials said they would delay it to 2015 in the 33 states where the federal government will be running insurance markets known as exchanges. And they will delay the requirement for other states as well.

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Filed under: * Culture-Watch • Health & Medicine • --The 2009 American Health Care Reform Debate • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • Politics in General

Richard Bejtlich was a cyber-specialist for the U.S. Air Force in the 1990s, a time when the U.S. military was going on the offense in the cyberwar. He remembers the day he realized how important a software vulnerability can be to a cyberweapons designer.

"Myself and a couple other guys, we found a zero day vulnerability in Cisco routing equipment," Bejtlich recalls. "And we looked at it, and we said, 'Did we really find this? Can we really get into these Cisco routers?'"

They could, and so Bejtlich and his colleagues reported it to Cisco. They thanked him and said they'd fix it. Days later, he was talking to some friends who worked on the offensive side of the unit, and they had quite a different reaction to them reporting the bug to Cisco.

"They said, 'You did what? Why didn't you tell us? We could have used this to get into all these various hard targets,'" he says.

Read it all.

Filed under: * Culture-Watch • Blogging & the Internet • Science & Technology • * Economics, Politics • Defense, National Security, Military • Economy • Consumer/consumer spending • Corporations/Corporate Life • The U.S. Government • Foreign Relations • Politics in General • * Theology • Ethics / Moral Theology

China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports of goods, official figures from both countries show.

U.S. exports and imports of goods last year totaled $3.82 trillion, the U.S. Commerce Department said last week. China’s customs administration reported last month that the country’s trade in goods in 2012 amounted to $3.87 trillion.

Read it all.

Filed under: * Culture-Watch • Globalization • History • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Foreign Relations • Politics in General • * International News & Commentary • Asia • China

On Jan. 30, the Obama administration unveiled a long list of exemptions from the ObamaCare insurance mandate. Flaws and contradictions in the law will cause millions of people to be uninsured. The administration also estimated that the cheapest family plan will cost $20,000 by 2016. This new information indicates that the Affordable Care Act is failing in both goals: making insurance affordable and covering the uninsured.

Children are the biggest victims. The hastily drafted law, passed before it was read, overlooked them.

The law says that beginning in 2014, employers with 50 or more full-time employees must offer coverage or pay a penalty. The law's sloppy drafting left it unclear whether that meant worker's coverage or family coverage.

Read it all from IBD.

Filed under: * Culture-Watch • Children • Health & Medicine • --The 2009 American Health Care Reform Debate • Law & Legal Issues • * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • The U.S. Government • Politics in General • House of Representatives • Office of the President • Senate

Thus far, courts have avoided the issue of a corporation's religious rights, Friedman says. In some cases, judges have ruled that plaintiffs have not demonstrated "substantial burden," simply because it's easier than weighing in on the First Amendment and RFRA rights of companies, he said.

If one or more of the cases against the employer contraceptive mandate is successfully appealed to the U.S. Supreme Court, justices will face a tricky set of intertwined issues: whether or not a corporation can practice religion; whether or not a corporation has the same religious freedom as its owners; and whether or not being required to cover contraceptives violates a corporation's—or its owners'—religious freedom.

"It's one of the most difficult legal questions I've seen, in terms of all the issues that are intertwined," said Friedman, who runs the Religion Clause blog and wrote about the issue last month. "There really haven't been any [courts] that have said corporations themselves have religious rights. They've either avoided the issue [by finding no substantial burden] or said the corporation can assert the owners' rights."

Read it all.

Filed under: * Culture-Watch • Health & Medicine • --The 2009 American Health Care Reform Debate • Law & Legal Issues • Life Ethics • Religion & Culture • * Economics, Politics • Economy • Corporations/Corporate Life

This one was my favorite--KSH..

Filed under: * Culture-Watch • History • Religion & Culture • Sports • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life

Google CEO Eric Schmidt’s new book, co-authored with a former State Department superstar named Jared Cohen, doesn’t come out until April. But The Wall Street Journal’s Tom Gara got a hold of an advance copy and has been going through some of its ideas about the future of the Web. Particularly interesting are Schmidt’s comments on China, which, according to Gara’s reading, seem to portray the country as a rising threat not just to Web freedom but to the Internet itself.

Schmidt and Cohen write that China is the world’s “most sophisticated and prolific” hacker, according to Gara. Their book reads, ”It’s fair to say we’re already living in an age of state-led cyber war, even if most of us aren’t aware of it.” But their predictions for where that might lead the Internet, according to the Journal’s report, include the dark possibility that it could split apart entirely.

China’s willingness to use aggressive, sophisticated hacking to get ahead, Schmidt seems to argue, will grant the country and its state-linked firms a significant advantage in the global economy.

Read it all.

Filed under: * Culture-Watch • Blogging & the Internet • Books • Globalization • * Economics, Politics • Economy • Corporations/Corporate Life

Why is Facebook such a repeatedly bad actor in its relationship to its users, constantly testing and probing for ways to quietly or secretly breach the privacy constraints that most of its users expect and demand, strategems to invade their carefully maintained social networks? Because it has to. That’s Facebook’s version of the Red Queen’s race, its bargain with investment capital. Facebook will keep coming back and back again with various schemes and interface trickery because if it stops, it will be the LiveJournal or BBS of 2020, a trivia answer and nostalgic memory.

That is not the inevitable fate of all social media. It is a distinctive consequence of the intersection of massive slops of surplus investment capital looking desperately for somewhere to come to rest; the character of Facebook’s niche in the ecology of social media; and the path-dependent evolution of Facebook’s interface.

Analysts and observers who are content with cliches characterize Facebook as sitting on a treasure trove of potentially valuable data about its users, which is true enough. The cliched view is that what’s valuable about that data is names associated with locations associated with jobs associated with social networks, in a very granular way. That’s not it.

Read it all.

Filed under: * Culture-Watch • Blogging & the Internet • --Social Networking • Science & Technology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life

[Yesterday].. Netflix...release[d] a drama expressly designed to be consumed in one sitting: “House of Cards,” a political thriller starring Kevin Spacey and Robin Wright. Rather than introducing one episode a week, as distributors have done since the days of black-and-white TVs, all 13 episodes will be streamed at the same time. “Our goal is to shut down a portion of America for a whole day,” the producer Beau Willimon said with a laugh.

“House of Cards,” which is the first show made specifically for Netflix, dispenses with some of the traditions that are so common on network TV, like flashbacks. There is less reason to remind viewers what happened in previous episodes, the producers say, because so many viewers will have just seen it. And if they don’t remember, Google is just a click away. The show “assumes you know what’s happening all the time, whereas television has to assume that a big chunk of the audience is always just tuning in,” said Ted Sarandos, Netflix’s chief content officer.

The producer Glen Mazzara took a similar approach to AMC’s “The Walking Dead” this year. In the second half of the season, which will start in mid-February after a two-month break, “we decided to pick up the action right away — to just jump right in,” Mr. Mazzara said. Fans of the show, he said, have little tolerance for recaps, since many of them will have just watched a marathon of the first half to prepare for the second.

Read it all.

Filed under: * Culture-Watch • History • Movies & Television • Young Adults • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life

My question for you, kind GetReligion readers, is this: Did the newspaper reports bury the lede? Rather than sales figures and charity donations, is the bigger story here that two humans got together and found common ground? Or am I naive to expect that such dialogue might make headlines?

Read it all.

Filed under: * Culture-Watch • Dieting/Food/Nutrition • Marriage & Family • Media • Religion & Culture • Sexuality • --Civil Unions & Partnerships • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * Religion News & Commentary • Sexuality Debate (Other denominations and faiths)

The finances of the US’s multi-employer pension schemes have deteriorated so quickly over the past year that the body that insures them will almost certainly run out of cash in 20 years, according to a new report.

The chances of the Pension Benefit Guarantee Corporation – the publicly created but privately funded body that insures the nation’s occupational pension schemes – going bust went from 1 in 3 at the end of 2011 to more than 9 in 10 by the end of 2012, a report prepared for the PBGC and released on Tuesday said.

Read it all (may require subscription).

Filed under: * Culture-Watch • Aging / the Elderly • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • Personal Finance • Pensions • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • * Theology • Ethics / Moral Theology

Thinking about Google over the last week, I have fallen into the typically procrastinatory habit of every so often typing the words "what is" or "what" or "wha" into the Google search box at the top right of my computer screen. Those prompts are all the omnipotent engine needs to inform me of the current instant top 10 of the virtual world's most urgent desires. At the time of typing, this list reads, in descending order:

What is the fiscal cliff
What is my ip
What is obamacare
What is love
What is gluten
What is instagram
What does yolo mean
What is the illuminati
What is a good credit score
What is lupus

It is a list that indicates anxieties, not least the ways in which we are restlessly fixated with our money, our bodies and our technology – and paranoid and confused in just about equal measure. A Prince Charles-like desire for the definition of love, in my repetitive experience of the last few days, always seems to come in at No 4 on this list of priorities, though the preoccupations above it and below it tend to shift slightly with the news.

Read it all.

Filed under: * Culture-Watch • Blogging & the Internet • Globalization • Psychology • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life

The U.S. economy shrank for the first time in more than three years in the fourth quarter, underscoring the halting nature of the recovery. But the strength of consumer spending and business investment suggested that the economy will grow, albeit slowly, this year.

Gross domestic product—the broadest measure of goods and services churned out by the economy—fell at a 0.1% annual rate in the fourth quarter of 2012, according to the government's initial estimate out Wednesday.

The details weren't as discouraging as the headline. The drop, a surprise, was driven by a sharp fall in government spending and by businesses putting fewer goods on warehouse shelves, as well as by a decline in exports. The mainstays of the domestic private economy—housing, consumer spending and business investment in equipment and software—were stronger.

Read it all.

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • The U.S. Government • Budget • * International News & Commentary • America/U.S.A.

Americans seem to be falling in love with stocks again.

Millions of people all but abandoned the market after the 2008 financial crisis, but now individual investors are pouring more money than they have in years into stock mutual funds. The flood, prompted by fading economic threats and better news on housing and jobs, has helped propel the broad market to within striking distance of its highest nominal level ever.

“You’ve got a real sea change in investor outlook,” said Andrew Wilkinson, the chief economic strategist at Miller Tabak Associates.

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Filed under: * Culture-Watch • Psychology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Stock Market

Boeing Co on Thursday said it was working around the clock to resolve issues that have grounded the entire global fleet of the company's new 787 Dreamliner for over eight days, and underscored its regret about the issue.

Boeing said it welcomed Thursday's briefing on the 787 investigation by the U.S. National Transportation Safety Board and said it continued to assist the NTSB and the other government agencies investigating two recent 787 incidents.

Read it all.

Filed under: * Culture-Watch • Law & Legal Issues • Science & Technology • Travel • * Economics, Politics • Economy • Corporations/Corporate Life • The U.S. Government

Governments continue to ask Google for more data about its users, with more than two-thirds of requests in the U.S. made through a subpoena, which usually doesn't require asking a judge for a search warrant.

User data requests of all kinds have increased by more than 70 percent since 2009, Google said in its biannual "transparency report" that tallies government requests for users' data. For the six months from July through December 2012, the company said it has received about 21,389 information requests for some 33,634 users -- up slightly from 20,938 requests for 34,615 users during the first half of the year.

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Filed under: * Culture-Watch • Blogging & the Internet • Science & Technology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • The U.S. Government • Foreign Relations • Politics in General • * Theology • Ethics / Moral Theology

Every year in America, 2.5 million people die. In 2011, the last year for which numbers are available, 42 percent were cremated, according to the funeral directors association. That's double the rate of just 15 years ago. In some states, largely in the West, the cremation rate tops 70 percent. In Washington, it's 72 percent; in Nevada, almost 74 percent. (The lowest rate of cremation... is Mississippi's, at 15.7 percent.)

So why the big jump in cremations? There are lots of reasons. One is the softening of the Catholic church's views of the practice. For centuries - until 1963, in fact - the church outlawed it. The church's laws still express a preference for burial. But the outright ban is a thing of the past and now, under some circumstances, bishops can permit a funeral mass with cremated remains present.

Another reason for the rise in cremations is the decline in nuclear families. As more and more Americans live far from hometowns and parents, and as family burial plots have waned in popularity and accessibility, millions have turned to cremation as a practical and cost-effective way to care for a loved one's remains.

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Filed under: * Christian Life / Church Life • Parish Ministry • Death / Burial / Funerals • * Culture-Watch • Children • Marriage & Family • Religion & Culture • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * Religion News & Commentary • Other Faiths • Secularism • * Theology • Eschatology • Pastoral Theology

As our world continues to move online, the Internet must make room and the web must stretch.

For Google, which hosts countless websites, emails, documents, videos and more, that means more storage capacity, which means more data centers.

The Internet search giant took a big step in that direction Friday, revealing plans to double its previous investment in Berkeley County by spending another $600 million on the data center complex there....

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Filed under: * Culture-Watch • Blogging & the Internet • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • * South Carolina

Late one night 20 years ago, when I was an oil executive rather than an Anglican bishop, I had run out of steam and patience toward the end of a complex multinational acquisition. We came to yet another bit of box ticking and I suggested we skip it, because we knew the material was accurate.

“Justin,” our wise investment-bank director said quietly, “you know that’s not how we do it.”

Under pressure, everyone is prone to make bad decisions and that story remains in my mind as I sit on the U.K.’s Parliamentary Commission on Banking Standards, listening to people talk about banks, bankers and their failures.

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Filed under: * Anglican - Episcopal • Archbishop of Canterbury • --Justin Welby • * Culture-Watch • Globalization • Law & Legal Issues • Religion & Culture • * Economics, Politics • Economy • Corporations/Corporate Life • Credit Markets • Currency Markets • Labor/Labor Unions/Labor Market • Stock Market • Taxes • The Banking System/Sector • * International News & Commentary • England / UK • * Theology • Ethics / Moral Theology

Last week, a fire on a Japan Airlines Boeing 787 Dreamliner parked in Boston prompted American regulators to launch a comprehensive review of the new jet program. But they maintained the plane was safe and allowed it to keep flying during their unusual if not unprecendented re-examination.

That changed Wednesday after pilots on an All Nippon Airways 787 had to make an emergency landing after another smoky battery malfunction. Before the day was over, the FAA had grounded Boeing’s technologically advanced jetliner, declaring that it won’t fly again until the onboard batteries are proven to be safe.

“Before further flight, operators of U.S.-registered Boeing 787 aircraft must demonstrate to the Federal Aviation Administration ... that the batteries are safe and in compliance,” the U.S. agency said in a statement accompanying its emergency airworthiness directive.

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Filed under: * Culture-Watch • Science & Technology • Travel • * Economics, Politics • Economy • Corporations/Corporate Life • The U.S. Government • * South Carolina • * Theology • Ethics / Moral Theology

It’s a baby boomer’s nightmare. One moment you’re 40-ish and moving up, the next you’re 50-plus and suddenly, shockingly, moving out — jobless in a tough economy.

Too young to retire, too old to start over. Or at least that’s the line. Comfortable jobs with comfortable salaries are scarce, after all. Almost overnight, skills honed over a lifetime seem tired, passé. Twenty- and thirty-somethings will gladly do the work you used to do, and probably for less money. Yes, businesses are hiring again, but not nearly fast enough. Many people are so disheartened that they’ve simply stopped looking for work.

For millions of Americans over 50, this isn’t a bad dream — it’s grim reality....[and] though there is no single path, there are success stories that offer hope....

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Filed under: * Culture-Watch • Blogging & the Internet • Children • Marriage & Family • Middle Age • Psychology • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life • Labor/Labor Unions/Labor Market

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Filed under: * Culture-Watch • Science & Technology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life

Lawrence Carpenter knew he always had an entrepreneurial spirit, but he was in the wrong business – the business of selling drugs.

After his second stint in prison, it became clear to him: “I made mistakes in my life, and I didn’t want to spend the rest of my life in poverty because of those mistakes. I also knew that I had a criminal record, and looking at things realistically, it was going to be pretty difficult finding a job anywhere. I didn’t want to use that as an excuse. I knew that in order for me to realize the goals I had financially, my only option was to start my own business and create my own market....”

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Filed under: * Culture-Watch • Men • Young Adults • * Economics, Politics • Economy • Corporations/Corporate Life

Vicki Grantham of the Cremation Society of Illinois slid open a gray metal door. “This is where everything starts,” she said.

Visitors peered into a huge room chilled to 35 degrees and fitted with stacks of long metal shelves on each side.

Homewood, Ill., Mayor Richard Hofeld backed away a few steps. He supports cremation and intends at some point to be a consumer. Still, he found the sight of the cooler where bodies are kept slightly discomfiting. “We know it’s going to happen, but we don’t want to think about it.”

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Filed under: * Christian Life / Church Life • Parish Ministry • Death / Burial / Funerals • * Culture-Watch • Science & Technology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life

America has too many malls.

I’ve recently blogged that many traditional brick-and-mortar retailers are being threatened with "economic destruction" by their advantaged online competition. In an interview with Bloomberg TV, anchorwoman Nicole Lapin asked about the implications of this dynamic on retail real estate. I said I hadn’t studied it, but I thought the ramifications would be very big and very negative (I believe the phrase "apocalyptic" was used).

I’ve since had the opportunity to spend some time looking at this issue, and I believe we’re seeing clear signs that the e-commerce revolution is seriously impacting commercial real estate. Online retailers are relentlessly gaining share in many retail categories, and offline players are fighting for progressively smaller pieces of the retail pie. A number of physical retailers have already succumbed to online competition including Circuit City, Borders, CompUSA, Tower Records and Blockbuster.....

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Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Personal Finance • * International News & Commentary • America/U.S.A.

Mr. Donahue joined the company in 1972 as a part-time law clerk, a year after graduating from Princeton University with a history degree. He went full time in 1974 after earning a law degree at the University of Pittsburgh. Mr. Donahue was named president and chief operating officer in 1993 and president and CEO in 1998.

He is one of 13 children of John and Rhodora Donahue, who have made their Catholic faith the center of their family, which includes 84 grandchildren and 69 great-grandchildren. John Donahue, 88, who co-founded Federated in 1955 with two Central Catholic classmates, is the company's chairman.

Catholicism's influence is evident in the work Donahue family members do.

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Filed under: * Culture-Watch • Children • Marriage & Family • Religion & Culture • * Economics, Politics • Economy • Corporations/Corporate Life • * Religion News & Commentary • Other Churches • Roman Catholic

"Dozens of companies have been delisted from our exchanges due to economy irregularities and outright fraud," said Dan David, vice president of GeoInvesting, LLC, a firm that monitored the Asian investment craze. "They raised hundreds of millions, some companies, that is outright money that was taken from investors that they'll never see again."

[Mary] Schapiro said the SEC opened 40 cases against Chinese firms during her tenure, targeting financial schemes she described as "brazen" and "extraordinary." Schapiro, who stepped down in December, said that when she asked Chinese Vice Premier Wang Qishan for help during a trip to Beijing in July her requests were rebuffed.

"We haven't yet achieved a level of cooperation that makes it possible for us to get access to Chinese companies the way we need," Shapiro said. "We will fight hard to try to secure recovery for U.S. investors. But it's harder when we don't have the cooperation of the foreign government."

Read it all and watch the video report (recommended)

Filed under: * Culture-Watch • Globalization • Law & Legal Issues • * Economics, Politics • Economy • Corporations/Corporate Life • Stock Market • * International News & Commentary • America/U.S.A. • Asia • China • * Theology • Ethics / Moral Theology

Even if you're not going to the Consumer Electronics Show, running Tuesday through Friday in Las Vegas, you can still test drive one of the world's newest gadgets this week.

With the right kind of smartphone you can find what's hot at certain hotels and even find out when a big jackpot last hit on a particular slot machine.

The new product, called TecTile, will be unveiled Tuesday (today) at various Caesars Entertainment resorts on and near the Strip. The manufacturer, Samsung Mobile, is installing 4,500 programmable stickers throughout the various properties as a way to make information easier to access.

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Filed under: * Culture-Watch • Science & Technology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life

Particularly vulnerable to the high rates are small businesses and people who do not have employer-provided insurance and must buy it on their own.

In California, Aetna is proposing rate increases of as much as 22 percent, Anthem Blue Cross 26 percent and Blue Shield of California 20 percent for some of those policy holders, according to the insurers’ filings with the state for 2013. These rate requests are all the more striking after a 39 percent rise sought by Anthem Blue Cross in 2010 helped give impetus to the law, known as the Affordable Care Act, which was passed the same year and will not be fully in effect until 2014.

In other states, like Florida and Ohio, insurers have been able to raise rates by at least 20 percent for some policy holders. The rate increases can amount to several hundred dollars a month.

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Filed under: * Culture-Watch • Health & Medicine • --The 2009 American Health Care Reform Debate • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Personal Finance • The U.S. Government

Google Inc. Executive Chairman Eric Schmidt may travel to North Korea over opposition from the U.S. State Department, becoming the highest-profile businessman to visit the isolated nation since Kim Jong Un succeeded his father as leader just over a year ago.

Former New Mexico Governor Bill Richardson said today that he and Schmidt are planning a “private humanitarian visit” and that Schmidt is going as a citizen interested in foreign affairs. “This is not a Google trip,” Richardson said.

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Filed under: * Culture-Watch • Globalization • * Economics, Politics • Economy • Corporations/Corporate Life • Foreign Relations • Politics in General • * International News & Commentary • Asia • North Korea • * Theology • Ethics / Moral Theology

Congress approved a plan to end Washington’s long drama over the “fiscal cliff” late Tuesday after House Republicans surrendered to President Obama’s demand to let taxes rise on the nation’s richest households.

The House voted 257 to 167 to send the measure to Obama for his signature; the vote came less than 24 hours after the Senate overwhelmingly approved the legislation.

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Update: Here are the new numbers for 2013 in Congress--Democrats control of the Senate by 55 to 45 (change of 2) and Republicans control of the House of Representatives by 234-201 (change of 8)

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Personal Finance • Taxes • The U.S. Government • Budget • Medicare • Social Security • The National Deficit • Politics in General • House of Representatives • Office of the President • President Barack Obama • Senate • * Theology • Ethics / Moral Theology

Perhaps we should not be so pessimistic. After all, history builds nodal points into the affairs of humankind which offer the prospect of change. Within a few short months, we will have a new governor of the Bank of England, a new director-general of the BBC, a new Archbishop of Canterbury. Maybe between them they can usher in simultaneous economic, cultural and spiritual renewal.

"Unhappy is the land that needs a hero," Brecht had his Galileo idealistically say. But this disconsolate country could do with more than one. We should not have unrealistic hopes. But Mark Carney, the new man at the helm of monetary policy and financial regulation, has a good track record as head of Canada's admittedly smaller central bank. Tony Hall comes to the BBC with not just a solid journalistic reputation but having now sorted out the financial, artistic and political mess at the Royal Opera House. And Justin Welby, a former oil executive turned priest, will arrive as the new Cantuar with useful experience of managing complex processes and organisations which should come in handy in a bitterly divided church which has lost much moral authority in speaking to the rest of society.

The challenges they each face are formidable....

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Filed under: * Anglican - Episcopal • Archbishop of Canterbury • Anglican Provinces • Church of England (CoE) • CoE Bishops • * Culture-Watch • Media • Religion & Culture • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * International News & Commentary • England / UK

Senate leaders are racing against the clock to reach a "fiscal cliff" deal the House and Senate can approve on New Year's Eve.

Leaders in the upper chamber narrowed their differences Sunday as Republicans agreed to drop a demand to curb cost-of-living increases to entitlement benefits, while Democrats showed flexibility on taxes.

Yet after months of talks on ways to avoid the fiscal cliff of tax hikes and spending cuts at the end of 2012, House and Senate lawmakers find themselves approaching the new year without a bill to present to their members.
Significant differences remain over two key parts of a deal — the automatic spending cuts known as the sequester and the estate tax.

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Update: a BBC article is there.

I will take comments on this submitted by email only to at KSHarmon[at]mindspring[dot]com.

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Taxes • The U.S. Government • Budget • Medicare • Social Security • The National Deficit • Politics in General • House of Representatives • Office of the President • President Barack Obama • Senate

Understanding the developing attitude of the central banks, and the effects of their actions, obviously remains central for investors in all financial assets. The “big picture” for global financial assets, involving very low government bond yields and a gradual shift of risk appetite into credit and equities, is unlikely to change until one of two events takes place.

The first would be a decision by the central bankers themselves that the era of unlimited quantitative easing must end, either because of the risk of inflation and asset price bubbles, or because of concerns about fiscal dominance over the monetary authorities. The second would be a realisation by the markets that further action by the central bankers is irrelevant because they have run out of effective ammunition. Either of these events would probably remove the central prop from the equity bull market which began in March, 2009, but neither seems very likely in 2013.

There is certainly no sign that the central bankers themselves will call a halt to the extension of their balance sheets.

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Filed under: * Culture-Watch • Globalization • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Credit Markets • Currency Markets • Euro • European Central Bank • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • Federal Reserve • The United States Currency (Dollar etc) • Politics in General • * International News & Commentary • America/U.S.A. • Asia • China • Japan • Europe • --European Sovereign Debt Crisis of 2010

Whether or not there is a deal, the weeks since the election have produced a stark display of political gridlock. "The government is not working," said Steve Bell, senior director of the Bipartisan Policy Center, who was a senior budget adviser to Senate Republicans for many years. "There is no doubt that the policy-making apparatus in this town has collapsed."

Following the tea-party wave in the 2010 election, the 112th Congress looks set to be the least productive in recent history. By the end of November, the House had passed 146 bills over the previous two years, by far the smallest number for any Congress since 1948. The Senate passed fewer bills in 2012 than in any year since at least 1992.

Rather than smoothing over differences, the November election appears to have hardened them. "We came out of the election with both sides thinking they won and had an equal mandate," said Ross Baker, a professor at Rutgers University who is now interviewing lawmakers on Capitol Hill for a book on bipartisanship. "One problem is we don't have a common narrative to guide us."

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I will take comments on this submitted by email only to at KSHarmon[at]mindspring[dot]com.

Filed under: * Culture-Watch • History • Psychology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Taxes • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • Budget • Medicare • Social Security • The National Deficit • Politics in General • House of Representatives • Office of the President • President Barack Obama • Senate • * International News & Commentary • America/U.S.A.

We don’t need to abandon wholesale the tinsel and bells and mistletoe like Frank, but we do need to be particularly vigilant to keep ourselves, and those we love, from being occupied with everything that has become Christmas, save Jesus.

For the Christian, the best answer to the Christmas mess isn’t Festivus — entertaining as the idea of “playful consumer resistance” made for a beloved sitcom. Our best response is clarity and explicitness about the true miracle of Christmas, that God himself, in the person of Jesus, took a true human body and a reasonable human soul (as the ancient creed puts it) that, fully God and fully man, he might bring us humans from our mess to himself.

In the midst of layer after layer of holiday common graces that quickly become distraction after distraction of the celebration’s true essence, it is a beautiful thing, when for a memorable, unhurried moment, everything stops and Linus reads from chapter two of the Gospel of Luke.

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Filed under: * Christian Life / Church Life • Church Year / Liturgical Seasons • Advent • Christmas • * Culture-Watch • Religion & Culture • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * International News & Commentary • America/U.S.A. • * Theology • Christology

...there is one thing often said by defenders of the American gun laws that ought to make us think about wider questions. ‘It’s not guns that kill, it’s people.’ Well, yes, in a sense. But it makes a difference to people what weapons are at hand for them to use – and, even more, what happens to people in a climate where fear is rampant and the default response to frightening or unsettling situations or personal tensions is violence and the threat of violence. If all you have is a hammer, it’s sometimes said, everything looks like a nail. If all you have is a gun, everything looks like a target.

People use guns. But in a sense guns use people, too. When we have the technology for violence easily to hand, our choices are skewed and we are more vulnerable to being manipulated into violent action.

Perhaps that’s why, in a passage often heard in church around this time of year, the Bible imagines a world where swords are beaten into ploughshares.

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I will take comments on this submitted by email only to at KSHarmon[at]mindspring[dot]com.

Filed under: * Anglican - Episcopal • Archbishop of Canterbury • --Rowan Williams • * Culture-Watch • Violence • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * International News & Commentary • America/U.S.A.

Brian Rants never thought his contribution to the world would be a $15 lamp. But for schoolchildren in Swaziland and earthquake survivors in Haiti, these solar lamps have made all the difference. Rants's Denver-based company—Nokero, short for "no kerosene"—have allowed African students to read at night and increased safety for Haitian families living in tent cities. As vice president of marketing, Rants's job is to get these lamps into the hands of millions of families in the developing world.

Since its founding in 2010, Nokero has sold over half a million solar lights and chargers in 120 countries, but Rants believes their work has just begun. With over a billion people worldwide still using kerosene as their primary fuel source, the need is vast. In a comprehensive study on the industry, The Economist lauded solar lights as the next big innovation for the world's poor, noting that solar lighting is "falling in price, improving in quality and benefiting from new business models that make it more accessible and affordable to those at the bottom of the pyramid. And its spread is sustainable because it is being driven by market forces, not charity."

Nokero's lamps replace the need for kerosene lighting and eliminate the sweeping problems that accompany its use.

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Filed under: * Culture-Watch • Poverty • Religion & Culture • Science & Technology • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life

If you haven’t finished your holiday shopping yet, don’t bother.

Skip the mall and the neighborhood store, resist the urge to shop online and, by all means, don’t buy anything you don’t truly need.

So says Kalle Lasn, 70, maestro of the proudly radical magazine Adbusters, published in Vancouver, British Columbia. Mr. Lasn takes gleeful pleasure in lobbing provocations at global corporations — and his latest salvo is “Buy Nothing Christmas.”

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Filed under: * Culture-Watch • Globalization • Media • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Energy, Natural Resources • * International News & Commentary • Canada • * Theology • Ethics / Moral Theology

A long line of America's top chief executives have rotated through Washington in recent weeks, loudly urging lawmakers and the White House to reach a broad deal to fix the budget. They once sounded optimistic. Now many of them aren't talking, and if they are, they're gloomy.

Mark Bertolini, chief executive of health-insurance company Aetna Inc., called the state of play "pitiful and embarrassing," saying the chances are growing that a deal might not be reached by the end of the year to avert $500 billion in tax increases and spending cuts.

"Set aside my interest as the CEO of a participant in the economy here—as an American, I'm embarrassed if that's where we end up," Mr. Bertolini said in an interview. "It feels like it's starting to fall apart."

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Filed under: * Economics, Politics • Economy • Corporations/Corporate Life • Taxes • The U.S. Government • Budget • Medicare • Social Security • Politics in General • House of Representatives • Office of the President • President Barack Obama • State Government

More than six decades since the discovery of the Dead Sea Scrolls - and thousands of years after they were written - Israel on Tuesday put 5,000 images of the ancient biblical artifacts online in a partnership with Google.

The digital library contains the Book of Deuteronomy, which includes the second listing of the Ten Commandments, and a portion of the first chapter of the Book of Genesis, dated to the first century B.C.

Israeli officials said this is part of an attempt by the custodians of the celebrated manuscripts - often criticized for allowing them to be monopolized by small circles of scholars - to make them broadly available.

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Filed under: * Culture-Watch • Blogging & the Internet • History • Religion & Culture • Science & Technology • * Economics, Politics • Economy • Corporations/Corporate Life • * International News & Commentary • Middle East • Israel

The shape of a deal to avert the US fiscal cliff is at last emerging, with at least $1tn in new taxes, up to $1tn in fresh spending cuts and an increase in America’s debt ceiling, as negotiators scramble to reach an agreement before the end-of-the-year deadline.

Barack Obama, US president, and John Boehner, Republican speaker of the House of Representatives, held their third face-to-face meeting in eight days at the White House amid signs of growing momentum in the talks. If they strike a deal in the coming days, and are able to pass it through Congress, it would remove a huge cloud of uncertainty hanging over the global economy.

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Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Taxes • The U.S. Government • Medicare • Social Security • The National Deficit • Politics in General • House of Representatives • Office of the President • President Barack Obama • Senate

A Muslim taxicab driver is suing the city of St. Louis, the Metropolitan Taxicab Commission and a private security company, saying he has been harassed and arrested because he insists on wearing religious garb.

Raja Awais Naeem, who works for Harris Cab and manages a shuttle service called A-1 Shuttle, says his religious beliefs require him to wear modest, loose-fitting clothing and a hat called a kufi. But that garb has run afoul of the taxicab commission’s dress code for cabbies, Naeem claims in the suit filed Thursday morning in St. Louis Circuit Court.

Naeem, originally from Pakistan but now a U.S. citizen living in St. Louis County, said he has been told he must adhere to the commission’s rules requiring a white shirt, black pants and no kufi. Baseball caps are allowed, as long as they have no logo other than the taxi certificate holder.

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Filed under: * Culture-Watch • Law & Legal Issues • Religion & Culture • Urban/City Life and Issues • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • * Religion News & Commentary • Other Faiths • Islam

The “Global Trends 2030” report is generally upbeat about the future. It foresees more individual empowerment, a growing middle class, better health care, and a world order in which the United States learns to better share power (assuming China plays along). It sees Islamic terrorism fading away.

Like many forecasts of global trends, it focuses strongly on material conditions more than the advance of ideas. It sees worrisome urbanization, with nearly 60 percent of the world’s population living in cities by 2030. Demand for “food, water, and energy will grow by approximately 35, 40, and 50 percent respectively,” the report states with presumed precision. “Many countries probably won’t have the wherewithal to avoid food and water shortages without massive help from outside.” At least 15 countries are “at high risk of state failure” by 2030.

These quadrennial reports are useful, up to a point, if they are constantly revised with new information. Most of all, they rely too heavily on experts without also tapping into the wider wisdom within society.

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Filed under: * Culture-Watch • Education • Globalization • History • Psychology • * Economics, Politics • Economy • Corporations/Corporate Life • Politics in General • * Theology • Anthropology

The actions on the eve of the Fed’s centenary year underscore Bernanke’s hallmark commitment to experimentation and forceful action, derived in part from his research showing too little monetary stimulus produced large economic costs for the U.S. in the 1930s and for Japan in the 1990s. He called the current state of the labor market, with unemployment at 7.7 percent, “an enormous waste of human and economic potential” and said the benefits of more bond buying outweigh the potential risks.

“Bernanke is pulling out all the stops to kick this economy back into a higher gear,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. “They are buying everything in sight -- Treasuries, mortgage-backed securities -- and will keep rates low until everyone who wants a job has one.”

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Update: Brian Milner has some interesting thoughts on this there.

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • Federal Reserve

The Federal Reserve refashioned its bond-buying programs on Wednesday, extending its far-reaching effort to revitalize the jobs market and boost the economic recovery into 2013.

In addition, the Fed shifted its communications strategy by specifying the levels of unemployment and inflation that might prompt it to begin raising short-term interest rates, which are now near zero.

The central bank's policy committee, in its final meeting of the year, said Wednesday it would "initially" begin buying $45 billion of long-term Treasury bonds each month. The latest stimulus from the Fed will replace an expiring program known as "Operation Twist," in which the Fed has been buying about $45 billion of long-term Treasury bonds each month and selling about the same amount of short-term Treasurys.

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Filed under: * Culture-Watch • Globalization • * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Credit Markets • Currency Markets • Housing/Real Estate Market • Labor/Labor Unions/Labor Market • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • Federal Reserve