Table of Contents
The article focuses on the issue of poverty and the areas that are affected most in the U.S. The author gives statistics on the levels of poverty quoting that 15.4 million residents living in suburbs live below the poverty line in the 2010; this was a rise of 11.5 percent from the year 2009. The figures translated meant that the nation has a third of the population being poor. The top five areas affected by poverty are named as El Paso TX, McAllen-Edinburg, TX, Fresno CA, Bakersfield, CA, and Modesto, CA. This situation is attributed and was aggravated by the great economic recession where most lost their jobs and even started depending on donations and food banks.
This article puts to light issue of poverty and the economic situation of the people living in the suburbs. It is a clear to note that the levels have risen with time and the many organizations that collect donations in the city should intensify their campaigns to ensure the residents in suburbs are taken care of. However, there should clear policies to empower them economically rather than always depending on handouts.
Censky, (par 1) talks of the launch of operation twist by the Federal Reserve where short term treasuries worth $ 400 billion were exchanged with long term bonds for the period between October and June 2012. The motive of the Fed is explained as trying to lower the long term bond yields; and reducing the interest rates which have been a burden to mortgage and loans payers and hence increasing borrowing of money. The operation is intended to revive the economic situation of the country by enticing investors to borrow more and increase circulation of money in the economy. However, this is an uphill task since the rates were still low at the launch of the operation. Also the events of 2008 of the infamous reception still linger on the minds of many investors who had invested in mortgages. The article gives the views of specialists in that the impact is so small in the large economy i.e. 1.7 percent of the economy.
The operation twist is worth trying however they should do better than that to win the investors’ confidence in the economy. The move is very noble and very calculated but as the specialist agrees the impact is so small in the large economy; the Fed should be go back to the drawing board and source for more money to invest in the economy.
This article gives an account of the protests that were held in LA to oppose the ticket price increase at the LA zoo. The protesters camped in tents to ensure that policies to favor corporations and the rich were not agreed upon. The invited speaker to the council meeting breaks the ice and invites the participants to join the protestors so that they could know their grievances. As the councilmen Eric Garcetti, Bill Rosendahl, Dennis Zine and Ed Reyes join the speaker to the camps, they engage in talks with the demonstrators where they agree to support them in their quest.
The policies developed sometimes are inconsiderate of the middle and low income earners but this is economic discrimination since the accumulation of wealth by some individuals only contributes to the huge gap between the haves and have-nots. There should be well developed economic policies to ensure wealth is equitably distributed and the poor are also consulted to share the economic wealth.
This article explores the options where the economy can be stimulated through initiating spending through investments. The example of New York Yankees stadium opening is given where it increased spending in the north side where the stadium was located. The American Recovery and Reinvestment Act is quoted as the most likely factor of the increase of spending in the region as given by the author who refutes the idea. The idea of stimulating the economy to growth is argued out effectively as the author quotes the increase in labor supply as a major stimulant to economic growth. The availability of employment is explained as the most stimulating factor that could trigger economic growth since people will have the income to spend.
I agree with the author that employment is a major stimulating factor of growth since they get income that they can spend and hence increasing circulation of money to the economy.
This article is based on the conference held at Wesleyan University named Pricing Carbon. The objective of the conference was to highlight the issue of climate change and how to handle it. The issue of curbing emissions was very critical in the conference and the discussion was very heated with some participants disagreeing with taxation of carbon emissions. Although Revkin was not present at the conference the email sent to him on the debate was evidence of political divisions on the issue. The question was to reduce the greenhouse gasses emissions that have contributed greatly to climate change that threaten the planet’s existence.
Greenhouse gasses continue to be a menace in the 21st century and something should be done on it to ensure there is reduction in these emissions so as to save the globe for the future generations.
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This article talk of the actions taken by Postal workers unions to have the company retains all the employees. They also want to the company to be saved from cutbacks so as to survive the economic hardship. They have protested on the streets and even placed advertisements on TV to support their bid. The union officials try to persuade the government to see the sense in their arguments and bail out the company. The proposal of laying off 120,000 employees would be very detrimental to the economy even as the company seeks to reduce costs. The political debate is also highlighted by the article where the White House allows the company to raise prices of stamps to cater for the company needs; this is refuted by republicans where they give the company time to renegotiate the deal.
Laying off such a huge number of employees could be detrimental to the economy since very many will have lost their livelihood. On the other hand the company should be bailed out to avoid collapse due to losses and hence contribute to more economic problems.
The article is categorical in bringing out the unclear decisions made by the central bank to enhance the economy. The words potent and appropriate have been used to describe the tools that are to be used. Two officials speaking on two different occasions differed with the tools to be applied making it uncertain to know the actual monetary policies. In this communication, there are compromised positions that would leave investors at a dilemma and hence lead to economic woes. This begs the question that Censky, (2011) asks how transparent should the Fed be?
Transparency and accountability are very important ethical instruments in business; the Fed should be very clear and open on the policies to be applied so that investors can gain confidence in the economy and invest with appropriate measures.
What if the debt committee fails? By Jeanne Sahadi CNN Money, September 30, 2011
The $1.2 trillion deficit is the subject of this article; the question on what the government would do if the committee fails to agree to the proposal. This is brought about by the political interests of the different parties involved. The repercussions of the fail would lead to cuts in programs such as Medicare and defense; this would create havoc in the economy given that the Medicare is for low income earners. The options that would deter the cuts is the Medicare plan by the democrats and the delay of the effects till January 2013.
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If the committee fails this would be a terrible blow to the economy given that the budget will have huge deficits that would not cover the low income earners. This would be a huge impact since the healthcare of the populations really matter in any economy; in case they can’t afford healthcare they are likely to have problems in working.
U.S. to decide the Keystone XL pipeline's fate. By Marina Landis CNN Money, September 30, 2011
The issue of environmental impact and economic growth are covered in this article; the Keystone XL pipeline scheduled to be built to cross different countries have raised eyebrows in Nebraska since it is to pass over a water source. The impact of the pipeline on the water resource continues to be explained by the governor. TansCanada has already carried out the environmental impact assessment and audit and are pleased. The economic gains from the project are immense but the environmental impact is quite uncertain. The governor is not opposed to the project but the impacts on environment and the state department have their final word after public consultations.
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Though energy is a key component in the growth of an economy once the environment is destroyed it cannot be regenerated back. It calls for a sober process to ascertain the governor’s claims and find his basis before proceeding with the project. There are always other routes that the pipeline can pass through but the water aquifer is only one hence if its existence is threatened then it is worth the change.
This article describes the fall in the income of Americans in the month of August; however the spending continued to increase; this is based on government data. The expected rise in income never happened but economists were surprised by the turn of events where income reduced and spending increased. The high cost in living is blamed for this occurrence in view of the fact that Americans had to spend more and save less. The prevailing economic factors are not good for this situation since there is market equity volatility; unemployment is high, household assets fall and low customer confidence. The situation has caused weak growth though it is better than no growth.
The fall of income and rise in spending reflects the harsh economic times the Americans are facing; the government should implement policies to ensure there is strong growth where the income is high and citizens are encouraged to save.