We’re in an election cycle, on both sides of the border and budgets, deficits and taxes are all hot topics. We got in the habit, especially after the trickle-down era of the 1980s of looking at everything like it was a spreadsheet. Running government “like a business” became the new norm. However, that was always…
Despite Republican obstructions, President Obama had a spectacular 2014
2014 was one of the most remarkable years in recent memory from an American President. Republicans in the United States like to call Obama a ‘dictator’ but, to the extent that’s true, it’s because the ‘people’s representatives’ in the U.S. congress failed to show up. Only a last minute burst of activity prevented the 113th…
How likely is it that your job will be automated?
In the not too distant future, most current jobs will be taken over by artificial intelligence and robotics. This includes manual labor as well as many “creative jobs”. According to one report, released last year, 47% of all current jobs in the United States will be automated over the next 20 years. That report doesn’t…
[US] Home Sales See Biggest Monthly Drop In 40 Years (NPR)
Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit. The report reflects a sharp drop in demand after buyers stopped scrambling to qualify for a tax credit of up to $8,000…
Ericsson cutting an extra 1,500 jobs (BBC)
Swedish telecoms equipment group Ericsson has said it is cutting an extra 1,500 jobs, as it reported a 92% fall in quarterly profits. Hit by the cost of its restructuring work, and a continuing drop in orders, its net profit for October to December was 314m kronors ($43m; £27m). This compares with 3.89bn kronors for…
Wal-Mart to cut 11,200 jobs at Sam’s Club stores
Retail giant Wal-Mart has said that it is cutting 11,200 jobs at its Sam’s Club warehouse chain in the US. The majority of the cuts will hit staff running in-store promotions at the chain, after Wal-Mart decided to outsource these functions. Last November, Mike Duke, Wal-Mart’s chief executive, said that the trading environment for the…
Rich nations urged to provide $10bn in climate funds (BBC)
Brazil, China, India and South Africa have urged wealthy nations to hand over $10bn (£6bn) pledged to poor nations in 2010 to fight climate change. The group – known as Basic – said the money must be available at once “as proof of their commitment” to address the global challenge. More at BBC
Shell Faces Legal Fight Over Arctic Wells (Common Dreams)
Royal Dutch Shell‘s controversial plans to drill for billions of barrels of oil in the Arctic’s environmentally sensitive frozen waters face a potentially damaging legal challenge An alliance of conservation and Alaskan indigenous groups has filed a legal claim to prevent Shell drilling for oil this year in the Arctic Ocean’s Chukchi Sea. Two years ago,…
Low gasoline prices won’t last for long
Canadian and U.S. unleaded gasoline prices are about to enter into a period of seasonal strength. Will they move higher again this spring? Seasonal influences U.S. unleaded gasoline prices have a period of seasonal strength from the end of January to the end of May. The trade has been profitable in nine of the past…
Recession Doesn’t Really Describe It
There are two schools on the press coverage of the recession so far. The first school says that the media are being overly negative. The media, they claim, is scaring people away from spending money causing the economic downturn to be worse than it is. Personally I can’t agree with this assessment. The economy is…