1. FINANCIAL TIMES3/6/13 Student Debt Fears: Concerns are rising that an explosion in student debt will sap economic growth in the US, where consumer spending accounts for about 70% of GDP. To paraphrase, as education became desirable during the last 10 years, it also became more expensive. Our kids are graduating from college, with debt exceeding $25,000 and 13% of graduates have debt exceeding $55,000. They have no jobs, they have no buying power and worse, this talent is going to waste and dragging the middle class down. With so many Societal problems caused by the pursuit of short term gains, when do we choose a better way of life? We have a choice?
2. FINANCIAL TIMES3/6/13 European Parliament has same problem as US CONGRESS ; Lobbyists. An Austrian MEP has been sentenced to jail in connection with a brazen influence peddling scandal in 2011. The Sunday Times claimed he and other MEP’s had agreed to alter forthcoming financial legislation in exchange for cash from a reporter, posing as a lobbyist. More recently, MEP’s have been accused of cutting and pasting language written by Amazon, eBay and other companies into proposed EU legislation. We have a choice!
3. LOL. Financial Times 3/6/13 Dow Jones soars to fresh high. As the US economy muddles along, with consumer spending on the decline, the US stock market soars beyond the peak set in 2007 before the onset of THE FINANCIAL. CRISIS. Since the Crisis the market has risen 120%, buoyed by aggressive US FEDERAL RESERVE bond purchases that have suppressed borrowing costs and helped stabilize the housing sector. (? How many are benefiting? We need a choice.)
4.NY TIMES 3/7/13 Open Jobs and Good Candidates , but Employers won’t commit: While unprecedented numbers of kids and families are saddled with student debt, the message you get from CFO’s is be careful about hiring someone? ” There’s a great fear of making a mistake, of wasting money in a tight economy.” Think positive, hire quicker, faster and create jobs. We have a choice.