It (the income tax law) was, however, subjected to a succession of rate reductions and amendments, one of them beingRead more →
Very cool: Activists erected a Snowden-Memorial in a park in NYC – police is furious and took it down quickly.Read more →
The Economist has a special on helicopter parents. Unbelievable: “In South Carolina this month Debra Harrell was jailed for lettingRead more →
Lexington: The home-school conundrum | The Economist http://www.economist.com/news/united-states/21600122-meeting-german-christians-who-claimed-asylum-america-home-school-conundrumRead more →
“Still not loved. Now not envied” – that’s the tag line of this Article on the world’s opinion on America (in the Economist, for a change a free-for-all). Interesting tidbit: America is the number one destination only for Indians – many more people would prefer to immigrate to Australia.Read more →
Sell your house, unless it stands in Germany. For a while now the Economist warned about the real estate bubble. Now they claim that it’s about to burst, probably a year from now. Read their free leader – the detailed article (not free) is much more detailed and full of scary statistics. Here’s the essence of their message:
- “If weaker house prices push the economy towards recession, the awkward truth is that America’s policymakers will have much less room to manoeuvre than they did after the stockmarket bubble burst. Short-term interest rates of only 3% leave less scope for cuts. In 2000, America had a budget surplus. Today it has a large deficit, ruling out big tax cuts.
The whole world economy is at risk. The IMF has warned that, just as the upswing in house prices has been a global phenomenon, so any downturn is likely to be synchronised, and thus the effects of it will be shared widely. The housing boom was fun while it lasted, but the biggest increase in wealth in history was largely an illusion.”