Over the past week or so, young unemployed would-be workers in France have been protesting and rioting...again. This time, the unions are joining them, so there are more than 1 million people marching in the streets of Paris.
For some reason, they believe that if they march long enough, burn enough cars, and gain enough media exposure, they will get their way. Unfortunately, this time, they are wrong. France cannot afford to cave in on the most recent expected changes to their labor laws, which will loosen restricitons on firing employees within their first two years of employment. The French aren't having anything to do with that. What they don't realize is that if an employer can more easily fire an employee, they are more likely to hire workers, which they are not currently doing.
The unemployment rate among those aged 25-54 has averaged 10% per year over the past 10 years. If you look at the unemployment rate among 15-24 year olds (keep in mind, unemployed means that someone is actively seeking employment but can't find a job) is nearly 25%.
For years, we in America have heard how sophisticated the French employment situation is; they work less, have more benefits, and are generally happier. If that was in fact true, it is entirely more ominous now.
Thursday, March 30, 2006
Saturday, March 25, 2006
Trip to China
Recently, in a rare showing of bipartisianship, Sens. Charles Schumer of NY and Lindsay Graham of SC have been threatening a 27.5% tariff on all Chinese imports, unless China allows its currency (the yuan), to float freely. The Christian Science Monitor even alluded to the fact that this must be a politically important issue if it is crossing the partisian divide.
This is no mystery, folks. Textile interests in the South and Labor interests in the North, both want to see fewer Chinese imports and more American exports. This is not some ideological showing of comraderie. This is just politics, and it is not even unexpected.
You see, China knows something neither of the Senators seems to know: If we impose such a tariff, it will not be good for either country. In fact, protectionism, and the subsequent trade wars, were a major cause of the Great Depression. Let's not repeat it, folks!
This is no mystery, folks. Textile interests in the South and Labor interests in the North, both want to see fewer Chinese imports and more American exports. This is not some ideological showing of comraderie. This is just politics, and it is not even unexpected.
You see, China knows something neither of the Senators seems to know: If we impose such a tariff, it will not be good for either country. In fact, protectionism, and the subsequent trade wars, were a major cause of the Great Depression. Let's not repeat it, folks!
Climate Change
Recent scientific studies suggest that the earth is embarking upon a warming trend, which could cause the seas to rise by 16 to 20 feet, mirroring a similar warming trend 120,000 years ago.
While the warming trend 120,000 years ago is believed to be caused by the Earth tilting within its orbit, the current warming trend is believed to be caused by increased carbon dioxide in the atmosphere, ostensibly from industrial emissions.
I don't believe there is much debate about whether we may be experiencing a warming trend, but I believe the debate occurs in what we must do to prevent this, or if it can be prevented at all. Reducing emmissions will likely cause hundreds of millions of people around the world to continue to live in abject poverty, which may have been preventable through industrialization. However, hundreds of millions more may lose their homes as the sea rises.
Further, what if we are in a warming trend, but carbon dioxide (CO2) emmissions don't play a significant part? What if warming is ocurring for largely the same reason it ocurred 120,000 years ago? Then all of our emmission reduction plans are for naught and the industrialized world would have subjected the developing world to living in poverty without any difference in results.
These are great questions (in my humble opinion (IMHO)), that aren't being discussed and debated because of a fanatical devotion on both sides.
While the warming trend 120,000 years ago is believed to be caused by the Earth tilting within its orbit, the current warming trend is believed to be caused by increased carbon dioxide in the atmosphere, ostensibly from industrial emissions.
I don't believe there is much debate about whether we may be experiencing a warming trend, but I believe the debate occurs in what we must do to prevent this, or if it can be prevented at all. Reducing emmissions will likely cause hundreds of millions of people around the world to continue to live in abject poverty, which may have been preventable through industrialization. However, hundreds of millions more may lose their homes as the sea rises.
Further, what if we are in a warming trend, but carbon dioxide (CO2) emmissions don't play a significant part? What if warming is ocurring for largely the same reason it ocurred 120,000 years ago? Then all of our emmission reduction plans are for naught and the industrialized world would have subjected the developing world to living in poverty without any difference in results.
These are great questions (in my humble opinion (IMHO)), that aren't being discussed and debated because of a fanatical devotion on both sides.
Sub-Prime Lending
Sub-Prime lending is a term which means lending to individuals who are generally lower income or who have bad credit. According the the Christian Science Monitor (http://www.csmonitor.com/2006/0324/p02s01-usec.html), this market accounts for approximately 19% of all originated home loans. This group, which has seen non-performing loans decline for nearly 7 straight years is starting to see an increase. Foreclosures are up 68%. Loans which are 30 days late have increased from 5.4 to 7.1%. This is not a good sign for the housing market.
This is probably being caused by two things: first, interest rates are starting to rise, putting pressure on some of these loans, and peoples' abilities to refinance them; and second, housing prices are getting too expensive. People are qualifying for larger loans that they can not afford.
The typical calls for regulation, federal laws, etc. are coming from community housing activists, but this will only lead to fewer low-income residents getting home loans in the first place. Do some people get taken advantage of? Of course, this happens in all kinds of situations. However, inserting regulations will only serve to reduce supply, thereby making these loans much harder to come by, and preventing other people who would qualify for these loans and don't have financial difficulty managing them, from being able to purchase a home. Philisophically, I am against adding regulation, but it is not something that would likely hurt me personally; only the millions who will no longer be able to purchase a home because lenders can't afford to lend to them.
This is probably being caused by two things: first, interest rates are starting to rise, putting pressure on some of these loans, and peoples' abilities to refinance them; and second, housing prices are getting too expensive. People are qualifying for larger loans that they can not afford.
The typical calls for regulation, federal laws, etc. are coming from community housing activists, but this will only lead to fewer low-income residents getting home loans in the first place. Do some people get taken advantage of? Of course, this happens in all kinds of situations. However, inserting regulations will only serve to reduce supply, thereby making these loans much harder to come by, and preventing other people who would qualify for these loans and don't have financial difficulty managing them, from being able to purchase a home. Philisophically, I am against adding regulation, but it is not something that would likely hurt me personally; only the millions who will no longer be able to purchase a home because lenders can't afford to lend to them.
Friday, March 24, 2006
Russian Spying
Over the past several days, some very shocking and damaging reports have been issued, implicating Russia on spying on the US prior to its invasion of Iraq, including placing sources in US Central Command (CENTCOM), and passing this intelligence off to Iraqi intelligence and officials. If this is correct, this could substantially change our relationship with the man whom our President "could see inside his soul." The truth of the matter would be, our President played poker with the Russian president and lost.
It is even being reported that the Russian ambassadors stole secret Iraqi documents on their way out of the country prior to the 2003 invasion.
Russia is denying these reports, of course, but the implications are startling. Russia is a permanent member of the UN Security council. They are not exactly on our side negotiating with Iran, nor the new Hamas government in Pakistan.
Are they helping us or damaging our national security at every turn?
Good question.
It is even being reported that the Russian ambassadors stole secret Iraqi documents on their way out of the country prior to the 2003 invasion.
Russia is denying these reports, of course, but the implications are startling. Russia is a permanent member of the UN Security council. They are not exactly on our side negotiating with Iran, nor the new Hamas government in Pakistan.
Are they helping us or damaging our national security at every turn?
Good question.
Wednesday, March 22, 2006
Kari's Recent Project
Kari has been a busy girl lately. Recently, she has been making curtains for the nursery. Included are some photos. In addition to the nursery, Kari also made curtains for the kitchen. I will include those at a later day.
Friday, March 17, 2006
One More Nursery Photo
Alright. This should be the last one for now. This is the rocker/ottoman that we bought for Kari. Additionally, you can see the first shower gifts in the background. These are from Dad and Carol. I think it is cute just thinking of my father purchasing a bathing kit for our soon-to-be. We are very thankful and blessed to have such caring family.
Happy Saint Patrick's Day!
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