India Rolls Out New Regulations
New rules, imposed by India’s central bank dictated government, make it mandatory for jewelers to collect information on the buyer, for jewellery worth 900 dollars, or more. This is expected to make official jewellery sales go south. Needless to say, this will not stop the black market.
17 Signs of Economic Depression in Southern Europe
Here are a few…
1. The unemployment rate in Spain has reached 26%.
2. The Greek economy has contracted by more than 20% since 2008.
3. The youth unemployment rate in Italy has risen to a new all-time record high of 38.7%.
CIA Net Trade Balance
Germany tops the list of the CIA’s account balances that measures net trade in goods and services. Next is China, Saudi Arabia, Russia, then Japan. If you are wondering where the U.S. is ranked, it is ranked at 193, or dead last, at about negative 487 billion dollars.
Obama to Imitate Stalin?
Senator Tom Harkin introduced a bill requiring Obama to develop a comprehensive national manufacturing strategy. In effect, Senator Harkin wants Obama to centrally plan the economy. Never mind that Obama has zero experience in business or manufacturing. So, how big of a piano needs to be dropped on people’s heads before they notice what is happening?
Government Transparency Hits Record Low
According to the AP, who examined 5600 data elements measuring transparency, the Obama administration has hit a record low in transparency. Specifically, the number of times the government withheld, or censored, reports in 2012 was up 22% from 2011. What is even more scary is that fact that the government has cited “national security” in legal cases and won without having to present evidence.
FAA Grounds Private Drones
A Minnesota business, using drones for aerial photographic work on construction sites, had a booming business until the they received a call from the FAA ordering them to ground their drones because current regulations don’t allow unmanned aircraft for commercial purposes. The government can fly drones, but American citizens cannot. Sounds like tyranny; however, the good news is that the U.N. is trashing the U.S. governments use of drones in infringing on Pakistan’s sovereignty.
Duplicating China’s efforts, a company, based in where else… San Francisco, has come up with a way to produce a fake egg made up of a variety of plants and other plant-based protein sources. Just imagine the chemicals used in the manufacturing process. I think I will pass as I head for the Hen house.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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