July 23rd 2011


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Articles from this issue:

EDITORIAL: Carbon tax: putting the fox in charge of the chicken coop

TAXATION: Single-income families the biggest losers

CANBERRA OBSERVED: Greens - bad for Coalition, worse for Labor

SAME-SEX MARRIAGE I: ALP bent on overturning traditional marriage

SAME-SEX MARRIAGE II: New York embraces same-sex marriage

EUTHANASIA: Bob Brown's plan to introduce euthanasia via the ACT

AS THE WORLD TURNS

FOREIGN TRADE: Anti-dumping rhetoric no assistance to local industry

FOREIGN AFFAIRS: Thai election result offers hope for the future

ASIA: The Republic of China is reborn on Taiwan

POPULATION POLICY: Moscow summit highlights threat of depopulation

POLITICS: Why conservatives are the new radicals

EDUCATION: Greens terrorising our children

SOCIETY: How cyber-porn breeds cyber-cowards

OPINION: Why don't we speak clearly about Islam?

LETTERS

BOOK REVIEW How our media let us down

BOOK REVIEW Australia's aviation pioneers

Books promotion page

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AS THE WORLD TURNS




News Weekly, July 23, 2011

Fourth largest economy in Europe falters

Italy… is the fourth largest economy inEuropeand has among the highest standard of living in the world. Yet the telltale signs of a potential financial crisis have been in place for a number of years.

PresentlyItalyhas a debt-to-GDP ratio of 120 per cent, the highest inEurope. However, the country has been able to handle such a high debt as its economy was relatively stable and so were revenues to the government. That is until 2009. At that point the government began to run high budget deficits and unemployment sky-rocketed….

WhileItalyis not in the same boat withGreece… the massive size of the Italian economy and the amount of euros needed to help that country would demolish the reserves of the Euro Zone and cause a potentially catastrophic financial crisis.

Extract from Morgan Taylor, “Fourth largest economy in Europe falters”, American Thinker, July 12, 2011.
URL: www.americanthinker.com/blog/2011/07/fourth_largest_economy_in_europe_falters.html

 

Black America vs. Obama?

“The disappearing black middle class” ran the headline over the Chicago Sun-Times story. And the statistics from the Economic Policy Institute were indeed sobering.

In 2007, best year of the Bush era, white households had a median net worth of $134,280, compared with $13,450 for black households.

By 2009, the median net worth for white households had fallen 24 per cent to $97,860. For black households, it had plummeted 83 per cent to $2,170, a near wipe-out.

As Algernon Austin of EPI’s Program on Race, Ethnicity and the Economy put it, “In 2009, for every dollar of wealth the average white household had, black households had two cents.”

One explanation for this surely is the wave of foreclosures on subprime mortgages, a large share of which were held by African-Americans.

Though 10 per cent of theU.S.civilian labour force, African-Americans are 18 per cent ofU.S.government workers. … These jobs are the backbone of the black middle class.

But … those days are over. And as blackAmericabenefited immensely from the Great Society, so it is likely to hurt most as the cuts come.

Already, black voices are beginning to blame the black president whom fate has chosen to preside over the downsizing.

Obama, saysPrincetonprofessor Cornell West, “lacks backbone.” He is a “black mascot of Wall Street and a black puppet of corporate plutocrats. ... I don’t think in good conscience I could tell anybody to vote for Barack Obama”.

Extract from Patrick J. Buchanan, “Black America vs. Obama?”, The American Cause, July 12, 2011.
URL: www.theamericancause.org/index.php?mact=News,cntnt01,detail,0&cntnt01articleid=766&cntnt01origid=15&cntnt01returnid=29

 

UK Chief Rabbi: Equality laws leading to new Mayflower exodus

Britain’s Orthodox Jewish leader, Chief Rabbi Lord Jonathan Sacks, claimed that anti-discrimination policies had fuelled an “erosion of religious liberty” inBritainthat was leading to a new “Mayflower”, a reference to the flight of the persecuted Pilgrim Fathers toAmericain the 17th century.

Speaking to the House of Commons public administration select committee, Lord Sacks said there was “no doubt’’ numbers of religious believers inBritainwere “extraordinarily’’ low.

He continued: “I share a real concern that the attempt to impose the current prevailing template of equality and discrimination on religious organisations is an erosion of religious liberty.

“We are beginning to move back to where we came in the 17th century — a whole lot of people on the Mayflower leaving to find religious freedom elsewhere.”

Extract from Tim Ross, “Chief Rabbi: Equality laws leading to new Mayflower exodus”, The Telegraph (UK), June 30, 2011.
URL: www.telegraph.co.uk/news/religion/8609531/Chief-Rabbi-Equality-laws-leading-to-new-Mayflower-exodus.html




























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