Sunday, April 22, 2012
7th period: current event due 4/28
Last week, too many of you forgot to post your current event! Remember that doing your homework is an easy and interesting way to boost (or hurt) your grade. This week, please find an article that deals with economics. That should not be too difficult to find...you can look in the money section of any news source. Have fun and I cannot wait to read your findings. Do you current event EARLY in the week. :)
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After thoroughly reviewing the fiscal problems posed by steadily increasing health costs and an aging population, it is said that Medicare programs will only be able to pay a portion if its expected costs in 2024. Unfortunately, this is the same year that was estimated by the trustees when they reviewed their revenue and expenditures last year.
ReplyDeleteEach year, the trustees release a report on both the Social Security and Medicare program that includes their long-term financial outlook plans. In this year’s report, trustees said that Unless Congress makes changes to Medicare, or overall health costs lower, Medicare will only be able to pay 87% of expected costs.
In other words. if lawmakers wanted to make the program last through the next 75 years, the current 2.9% tax would raise to a 4.25% tax on Medicare. Despite the fact that this may be their best-case scenario, raising the taxes is not in the best interests of those who are receiving this healthcare. Jobs are already at risk and incomes are stretched thin as Americans struggle to deal with the economy. Medicare programs have already been seeing the harsher parts of the debt in the U.S. By 2008, costs under Medicare Part A--which pays for hospital services--had far exceeded revenue coming into the program. The healthcare that the baby-boomers are so thoroughly enjoying will soon be cut completely when, come 2024, the main source runs dry.
Depressing, right? Here’s where it gets worse: This is expected. I have absolutely no doubt that our country is going to fall head over heels in debt. I have no doubt that several programs working to serve American citizens will end up bone-dry on cash. Despite the fact this is depressing, however, it’s all a part of our economic cycle. The greedy mindset of Americans says, “Take, take, take some more, and when it’s gone--keep taking.” A mindset like that can only be overcome when the point of making drastic decisions comes into existence. Once the wealthy boys sitting on their 1% incomes realize that even they are in danger, then, and only then, will we see some real change. By that point, the Democrats and Republicans voting for our country will have enough to agree on that we can make some concrete, positive decisions. It’s just like global warming. Once things start spontaneously catching on fire all over the world, someone working in Congress will scratch their balding head and go, “Huh. Maybe we should do something about that global warming problem.”
Ah, Americans. Such a progressive force, aren’t we?
Source: http://money.cnn.com/2012/04/23/news/economy/social_security_medicare_trustees/index.htm?hpt=hp_t3
Published: April 23, 2012
Article: Medicare funding runs short by 2024, trustees say
By: Jeanne Sahadi; CNN
Jack Kleissler
ReplyDelete“Buffett Rule” becomes a bill, and congress bickers
David Welna, NPR 4/4/12
http://www.npr.org/2012/02/04/146342119/buffett-rule-becomes-a-bill-and-congress-bickers
This article I about the new bill that Obama proposed to congress earlier this month. It is called the Buffett Bill in regard to the fact that Warren Buffets secretary pays a higher tax rate than he does. This specific bill will make it so that anyone earning more than 1 million dollars a year will have to pay at least 30% in taxes. This will only affect the top 1/10th of the 1% of taxpayers, roughly 100,000 people. One argument on the other side is that these people already pay for 37% of all federal income taxes, and they feel they shouldn’t have to cover anymore.
While Republicans in the senate do have a point, this looks a lot like class warfare, it does have a purpose. How much money can one man make? The people that this bill is aimed at will have no trouble in paying these higher taxes; it may cause them to take a few less trips to Martha’s Vineyard and Europe but besides that. These people already pay for 37% of all income taxes, they shouldn’t have to cover for these people who cant do work for themselves. Well that attitude is the exact opposite of the morals this nation is based off of. It took hard work for generations to obtain all this money and I think giving a little back to the country that made their success possible isn’t too much of a hassle but that’s just me. In the end though this bill might have just been a political campaign tactic in an election year than an actual attempt at tax reform.
In this time of high unemployment the oil businesses are some of the few recession-proof fields that are still making big profits. Big Oil will report big profits this year which might attract the anger, ire, and resentment of the middle class most heavily affected by the recession. To avoid the criticism the oil companies are focusing on their more positive points. Namely their ability to produce more jobs. As the demand for oil grows more jobs will be made to feed the industry's consumption. One out of ten new jobs created in 2011 were oil jobs. Oil companies claim that they can create a million new jobs in the next year, which would greatly help our economy and unemployment rates. However, the actual number of new jobs created would realistically be much less. It would be about 36,000 new jobs a year. Even though it is not as many as promised, any new jobs will help people. The oil industry is not the only field creating new jobs. More are being made in the auto industry and In construction, each providing over 50,000 jobs.
ReplyDeleteI think that the new jobs being created are very good for our country. In an unstable decade with high unemployment and recession any job is valued and can better peoples lives. Oil companies may be making money but I don't think that people should resent them for it. Since we live in a capitalist country that encourages free enterprise I applaud the oil companies for making over 290 billion this year. However, I would not mind if they lowered the price of oil by a dollar or so. This connects to our class discussions because there is much oil scarcity. There is an endless demand for oil but not enough to go around.
Juno Park 7th period
Digging into Big Oil's big job claims
Chris Isidore CNNMoney 4/25/12
http://money.cnn.com/2012/04/25/news/economy/oil-jobs/index.htm?iid=Leac
Sam Dunson
ReplyDeleteQuick Response Avoids Market Scare in Mad Cow Case
http://www.foxnews.com/us/2012/04/26/quick-response-averts-market-scare-in-mad-cow-case/
Published April 26, 2012/Associated Press
The U.S. beef market is recovering from a recent mad cow disease scare in California. The infected cow was only the fourth every found in the United States and was discovered by a program that tests 40,000 cows a year for the disease. This case of the disease happend at a very incovinient time because the beef market had just recovered from a previous mad cow disease scare in 2006. The The USDA is under serious presure because of this incident and billions of dollars are on the line. They have gotten it under control though by explaining to the public that the cow was never bound for beef production because it was a dairy cow. Hopefully the USDA will limit its loses by releasing this statement and the whole incident will soon blow over.
It is very suprising that a disease such as this can reoccur after being so dormant fir so many years and with all of modern technology. Still, I do not know why people are making such a big deal about the whole incident. Only one cow was infected with the disease, so the disease can easily be stopped by getting rid of that cow, and we would have no reason to worry then.
Jason Cohn
ReplyDeleteUS stocks rise on bright earnings reports and a jump in home sales; problems still loom By: Richard Drew
April 26, 2012 Washington Post
http://www.washingtonpost.com/business/markets/us-stock-market-futures-slip-after-unemployment-claims-come-in-high-european-markets-drop/2012/04/26/gIQAuGftiT_story.html
This article is about the rising of the U.S. stocks today. There was also improvement in home sales. The Dow Jones as well as the Nasdaq rose significantly, giving investors new hope. The real estate market is also rising, which increased many stocks as well. However, the unemployment level is unchanged, even with the economy on the rise. It is not clear when companies will return to the level of hiring they were at before the recession started. Italy is also showing signs that they are struggling. They have given people reason to believe that they are incapable at the moment of paying back their debts. Most of Europe is also struggling. Britain and Germany are doing fairly well, but Greece, Spain, and France are in worse shape. these countries along with the United States have the ability to pull the entire world into an economic drought. But in the first quarter of the year, the US stock market has seen mostly improvements and few setbacks.
This is a great thing for us that the market is doing better, but this does not fix the entire problem. Unemployment rates are still high and until they go down, we still have an economic problem. I think that what happens economically between now and November will play a big part in deciding who will win the election because most Americans only look at how the economy is doing. We are trained to care about the money more than anything else. So no matter what the government does with anything else will probably not play a large role in the election. In this country, everything relies on money.
Jonah Horwitz @NotoriousJ_E_W
ReplyDeleteGas Prices Seen Headed Lower At The Pump
by Steve Hargreaves
http://money.cnn.com/2012/04/26/markets/gas-prices/index.htm?iid=HP_LN
Earlier this year, the surging price of gas was looking like it was goin to be 5 bucks by the summer. This month, the price has gone a great length down going from $3.40 a gallon at the beginning of April down to $3.10. The main reason for lower gasoline futures prices is the declining cost of Brent crude and other crude oil that gasoline is made from. This must be a result of no supply issues or refinery outages. As there continues to be a surplus in gas, the lower the prices will be this coming summer.
This is really good news since we all know that the summer is the driving season. With lower gas prices, it will make it quite more enjoyable to go on roadtrips to the beach or something. i remember seeing prices up to 4 bucks earlier this year with it not looking very promising for lower prices. The 30 cents change in 3 weeks might not seem like much, but this is a significant change compared to how bad it has been this year.
Peter Norwood
ReplyDeleteEconomists say Congress won’t help the economy
CNN Money
http://money.cnn.com/2012/04/18/news/economy/forecast-congress/index.htm
Summary: A group of Economists from CNN have come to the conclusion that the legislative branch will have no effect of the economy improving. They believe that the political gridlock of today will do nothing but hurt the economy, due to the inability to create tax reforms. Generally the economist feel as if the government cannot control the economy other than a small bit, but the imbecilic culture in Washington is simply messing it up.
Personal Opinion: They are correct. First off, these are men and women who study the economy so I value their ideas (wouldn’t you listen to a chemist to learn about chemistry?). Ideally, the government would not be a part of the economy, as our founding fathers intended, and the only involvement would be insignificant. If generally intelligent people made reasonable economic regulations then there would be no problem. The idiotic members of congress today are not the ones who should be regulating the economy, and all they can do is send the economy into more turmoil than now. A simple solution is achieved in two steps. 1) No more incumbents 2) Eliminate all unconstitutional big government politicians. This will revise the capitalist society which made us the greatest economic power the world has ever seen, not continuing the path to the socialism which is failing in Europe (and America).
Oskar Marszalek
ReplyDeleteS.&P. Cuts Its Rating on Spain, Citing Debt
By SHAILA DEWAN
Published: April 26, 2012
Summary: The Standard and Poor downgraded the credit rating of Spain from A to BBB+, noting the country's debt and that banks will likely need an infusion of money (bailout). The credit rating of a country reflects the trustworthiness of an investor (in this case Spain). In a nation with a high credit rating, it is likely that someone who purchases bond will see a timely return on their investment. Other alarming statistics about Spain's economy include its unemployment rate of 25% and a projected decrease of 1.5% in total economy in 2012.
Personal Opinion: A nation that receives a downgrade in credit rating faces a slippery slope: in order for the nation's dwindling economy to grow, it needs money. However, investors are now less likely to purchase bonds and the country's economy further decreases. This news is not only troubling for Spain and the rest of the Euro zone, but also for the United States. The 15 trillion dollars of debt that our nation has amassed has and will continue to attract the attention of the Standard and Poor. A decrease in the credit rating of the US would have additional negative effects on the economy.
Luke Ciocca/Walmart’s Mexican morass
ReplyDeletehttp://www.economist.com/node/21553451/ The Economist
This article describes a story about how Walmart is now losing money and threatens to be punished due to bribery. Last week alone, investors cut 10 million in stocks/shares due to the growing scandal. This scandal involves Walmart’s spreading abroad in Mexico. In the recent years, all around Mexico, Walmarts have been opened up. These stores, called Walmex, have been reportedly involved in bribery of building officials in order to speed up permits. These permits, would allow them to build more stores quicker and make more money in turn. Normarly in Mexico a building permit will take upwards of 81 days while in the US that is decreased to 26. Apparently these payments were to speed up the permit process in the building of new Walmart’s. Walmart which accounts for about 25% of foreign sales, is undergoing probing of their company. This may also lead to racketeering suits from other competing businesses in the area. The decision of the punishment of Walmart now rests solely on the Department of Justice.
I found this article extremely interesting. The scandal within Walmart has threatened to stop Walmart’s exponential growth as a company. Depending on the newest punishment handed down by the Department of Justice may leave their foreign businesses in jeopardy. The Walmex support a large bulk of Walmart’s profit and could be in jepordy due to the fact that they were trying to expand as this scandal came up. Their stock has now dropped and Walmart needs to turn this promblem around and deal with the consequences of their most recent actions
Brian Mack/ 7th Period
ReplyDeleteNetflix plunges on sales outlook/ CNNMoney
Julianne Pepitone/ 4/19/12
http://money.cnn.com/2012/04/23/technology/netflix-earnings/index.htm
Netflix lost 8 cents per share on $870 million in sales last quarter, which was a decent outcome considering a recent poll had Netflix losing 27 cents per share, and sales of $ 866 million. Despite a drop in stats in the first quarter; Netflix is showing marginal improvement, as more than 1.7 million subscribed to a new streaming program. Netflix still believes that there is the possibility of bringing in a profit for the second quarter, as the current forecast has a range from a loss of 10 cents per share to a profit of 14 cents per share. Netflix is also losing key suppliers, such as Starz and Liberty Media because they have been unable to agree on a new contract. Netflix will also be losing large contracts in 2014, which they could be suspect to losing if they remain on this downward trend.
I believe that Netflix made a mistake by taking their streaming program overseas, even though the program made a substantial jump of 1.2 subscribers from the previous quarter. Before the deal was made Netflix was aware of the possibility that by investing overseas they could become unprofitable for all of this year. I think that Netflix will be able to struggle through 2012, and renew contracts in 2014 because the drop in DVD sales on the rise.
Pending Home Sales at 23-month High in March
ReplyDelete4/27/2012
By Steve Goldstein, MarketWatch
http://www.marketwatch.com/story/pending-home-sales-at-23-month-high-in-march-2012-04-26
The National Association of Realtors say that home sales rose 4% in March. This is a positive sign for the housing market and a up turn from February's drop. The low mortgage rates, cheaper prices and slow improving employment have helped with the small rebound in the market. Tends show that warm weather can lead to a rise because people are more likely to be out and about to look at houses or consider selling. March's sales are up 12.8% from this time last year. It is predicted that the market will continue to rise in the summer months.
It's a great thing that home sales are on the rise. Many people's wealth is tied up in their homes and the fact that they are able to move shows that more people are becoming financially flexible again. While the economy is still in the dumps we might be starting to see the light. However when the economy is down it is a buyers market for homes. Prices have to drop in order to have any chance of selling. The people trying to sell expensive homes or people doing flips are the ones in trouble right now. 15 years ago the housing market was booming and many bought up other properties that are now causing them to go in the red to pay the mortgages. I hope this continues and we start to see a real upturn in the housing market and the economy as a whole.
Cameron Baker 7th Period
ReplyDeleteHome prices are lowest in a decade. How can the economy recover?
Jack Cafferty, CNN 4/25/12
http://caffertyfile.blogs.cnn.com/2012/04/25/home-prices-are-the-lowest-in-a-decade-how-can-the-economy-recover/?iref=allsearch
A recent price index of 20 cities showed an average decline of 3.5% from a year ago in the housing market. Home prices are lower than they have been since 2002. Some experts blame foreclosures and other distressed property sales for the price drop. Atlanta, Charlotte, North Carolina, Chicago, Las Vegas and New York are the areas struggling the most. Atlanta is the worst, prices falling over 17% in only a year. The numbers are frightening. Homes are the most important part of most Americans lives, and the condition the market in does not help the economy whatsoever. It may be a long time before we see improvement. Home sales are dropping too, even though the prices are lower few have enough money to ever consider buying a new house.
The state of the economy is notably poor as is, and the struggling home market isn't helping. With so many Americans losing their jobs, many are being forced to sell their homes, but if no one is willing to buy it where will they get money to move on with their lives! The dependency on the housing market is to high for it to be spiraling downward. This is obviously a problem that needs to be addressed more than it is currently. Our nation won't rise from the economic crisis until people are confident they can stay in their own homes.
Jayson Williams 7th Period
ReplyDeleteU.S. Economic Growth Slows to 2.2% Rate, Report Says
By SHAILA DEWAN
4/27/12
NYT
The U.S. economic output rate has grown 2.2% in this years first quarter of 2012. Some economists have stated that the nation's economy could be "sustainable" at its pace. Many people expected that this year our economy wouldnt grow as much but, they have changed their predictions for the better. There was a rise in durable goods last month but, economists are hoping that the same thing doesnt happen from last year where the economy was slow during the spring. Unfortuantely our economy has not grown significant enough for everyone to get excited.
I really hope that the economy will get better in the near future, nut it will be extremly hard for the U.S. to make a quick comeback. Since there really aren't any economic boosters helping our economy right now this situatin could take many years or may never be fixed. It's really upsetting to know that we put ourselves in this ridiculous hole and now we can't get out.
Stefan Steiner 7th period
ReplyDeleteU.S. Economic Growth Slows to 2.2% Rate, Report Says
Shaila Dewan nytimes.com
4/27/12
The economic output of the U.S. grew at an annual rate of 2.2% in the first quarter of the year. Consumer spending and residential building increased, perhaps due to the warm weather. The pace slowed from 3% last quarter, but economists say this rate is a "sustainable" recovery speed. However, business investment declined. Some warn that consumer spending can't continue without more hiring and wage growth.
I am glad that we are maintaining a "sustainable" recovery speed. However, business investment needs to increase. I hope that hiring and wage growth increases so that consumer spending can increase as well.
Zunzun Aung
ReplyDelete7th period
Title: “A cost of war: Soaring disability benefits for veteran”
Author: Aaron Smith
Date: April 27, 2102
Source: CNN
http://money.cnn.com/2012/04/27/news/economy/veterans-disability/index.htm?iid=GM
Veterans are struggling to find jobs when they returned home. Government is spending more money on the war then on the returning vets. Many of veterans came home disable so they can’t really do much. The U.S. Department of Veterans Affairs expects to spend $57 billion on disability benefits next year. That's up 25% from $46 billion this year, and nearly quadruple the $15 billion spent in 2000, before the wars in Iraq and Afghanistan began. The compensation for disable veterans are $2,769 per month and spending this much money is really making our economy worst; increasing our debts.
I think United States need to stop going to war if they even afford to support their vets after the war. It’s not good for the country or the citizens or the ones that served the country. Even though there are organizations that help returning vets weather they’re disable or not, it’s not supportive for ALL of them. The government just needs to focus on the economy at this point, instead of going into war with other countries.
Colin Schenk
ReplyDelete7th period
GDP: Recovery slows in first quarter
By Annalyn Censky @CNNMoney April 27, 2012: 10:02 AM ET
Spending cuts have slowed this quarter’s growth of gross domestic product. Economists had predicted a 2.5% growth but it has ended up only being about 2.2%, which is down from 3% last quarter. Growth at that rate is considered too weak to lead to the hiring needed to put millions of unemployed Americans back to work. The largest burden on the economy came from government spending cuts. Spending by the federal government declined 5.6% due mainly to defense cuts, while spending by state and local governments fell 1.2%. This has been the sixth consecutive quarter that government cuts have weighed on GDP -- which hasn't been seen since 1953, when the United States was pulling out of the Korean War.
Even though these budget cuts have been slowing our economies growth I still think they are necessary. After watching that video in class about our national debt I think anything we can do to cut back on spending and reducing our debt is a good thing. One thing that I think is smart are the cuts on defensive spending because we already spend so much on it so having spending cuts there wont hurt much.
Justus Heizer
ReplyDelete4-27-12
GDP: Recovery Slows in frist Quarter
Annalyn Censky
The economy had a very slow start in the first quarter. The government had spending cuts that threw off the consumer spending rates. The rates grew at a 2.2% rate in the first couple of months of 2012. This is almost 3 percent lower than what the growth rate was in the last quarter. This is suppodiby a very weak rate and that we need to improve this. If the rate doesn't increase we wont be able to hire people to new jobs and people wont have a place for a job or get paid enough for them to still work there. The rate is lower than anyone was expecting and everyone i thicken agrees that we need to make it grow higher.
We need the jobs for people. The unemployment rate in America is terrible and me need to get people jobs and this is not helping the case. If we get the rate back you we can hire more people to jobs and they can afford food and necessities that you need to survive in our world today. I want to be able to have a job when i need one so that I can make money. This rate is to low and we have to make it higher because if not America will have so many unemployed people that we wont be able to function. Without jobs people cant make money without money people cant buy food and without food people die. We need the jobs and the money to survive it is a key part in life.
Katie Alexander 7th
ReplyDeleteNot just Wal-Mart: Dozens of U.S. companies face bribery charges
Stephen Gandel, CNN
April 26, 2012
http://finance.fortune.cnn.com/2012/04/26/walmart-bribery-investigations/
Wal-Mart has been accused of regularly bribing Mexican officials in order to quickly obtain permits to open stores. However this situation is not uncommon. Companies noted for committing bribery are Hewlett-Packard, Qualcomm, Deere & Co., Avon, Las Vegas Sands, and Koch Industries. There are at least 81 public companies under investigation by the Securities and Exchange Commission (SEC) or the Department of Justice for disobeying the Foreign Corrupt Practices Act, which makes bribery in foreign countries punishable in the U.S. In addition, the SEC has also recently launched an investigation into whether U.S. movies studios have been using bribes to break into the Chinese entertainment market. News Corp's 20th Century Fox, Disney and DreamWorks Animation have all reportedly been contacted by the SEC.
Honestly, I think behavior such as bribery is embarrassing. The thing that surprised me the most is the U.S. movie studios trying to break into the Chinese entertainment market. Huge multi million dollar corporations such as News Corp's 20th Century Fox, Disney and DreamWorks Animation stooping so low to bribing is kind of shocking. It kind of makes you think twice before watching a movie from one of these companies or buying an item from Wal-Mart.
Luthfi Bustillos 7th period
ReplyDeleteGrowth in the US economy falls back in first quarter
Author: Jane Little
http://www.bbc.co.uk/news/business-17870921
The US economy growth slowed from 3% percent to 2.2% in the first quarter of the year. It had been growing at a 3% in the last three months of last year. The growth is less than expected by 0.3%. The car market had been a factor in the growth achieved. Consumer spending grew 2.9%, which is the fastest in two years. The government spending fell back which is one of the main reasons in a slower growth. The government cut on defense spending. Defense spending went down by 8.1%.
I don’t think that it’s good that the growth has slowed down. But I am happy that there was growth because this is a step in the right direction. The government though will need to grow by much more than 2.2% to trim down the debt the United States currently has. The debt is worrying and the US economy will need to continue growing if the US is to get rid of that giant debt they currently have.
Aaron Smith 7th Period
ReplyDeleteGas prices seen headed lower at the pump
Steve Hargreaves CNN
http://money.cnn.com/2012/04/26/markets/gas-prices/index.htm?iid=SF_E_River
Gas prices have increased this year and there were concerns that the price would reach 5 dollars by the summer. Recent drops in the price of gas are making people believe that this is not true and should continue to decrease or stay about the same. A big reason for this is because the price for crude, oil that gasoline is made from, has dropped as well.
I am very glad to see that the price in gas has gone down. I don't pay for gas but I know the high prices are a problem for people who do. The drop in price is very good but it does not guarantee that the price will stay low. Hopefully everything goes well and the price of gas stays down.
Kiara Luna / 7th period
ReplyDeleteObama challenges Congress on student loans in speech at UNC
By: News 14 Carolina Staff
April 24, 2012
http://triad.news14.com/content/top_stories/656663/obama-challenges-congress-on-student-loans-in-speech-at-unc
Last Tuesday, President Barack Obama gave a speech at UNC. He pushed Congress to extend the interest rate cuts for student loans. He talked about how keeping college affordable is an economic issue. If nothing was done by July 1st, rates on student loans would double. The President wants all the students to have a chance to get an education that would allow them earn skills that will help them have a career later on.
We can see this is a big problem since we owe more money on student loans than in credit cards. Schools should be more affordable and available to students to help them have a successful future. They shouldn’t have the pressure of paying an expensive education which makes it harder for them to continue it. I agree with Obama that this would open doors to many students.
Salomon Ariza/ 7th period
ReplyDeleteA cost of war: Soaring disability benefits for veterans
By Aaron Smith/ CNN
April 27, 2012
http://money.cnn.com/2012/04/27/news/economy/veterans-disability/index.htm
This article talks about how the money spent on Veterans from the armed forces is going up tremendously. It mentions how the US Department of Veterans Affairs is expecting to spend 57 billion dollars next year which is almost four times than what was spent before the Iraq war. Experts are saying that this is due to the advancement in medical technology. The reason why medicine has been so influential is because now many more soldiers are surviving. This is positive because more lives are saved yet it is creating more costs for the government to help those with extreme injuries. Also many injured soldiers are having trouble finding jobs.
I find this article to be very interesting. Its amazing how advancements in technology are actually raising costs for the government. I still do not find this to be a negative thing however since these people are fighting for their nation. I believe that although costs to maintain veterans is getting higher the government needs to continue supporting them. One thing that I disagree with however is the war. This creates needless expenses and risks many lives of people. If we were not to go to war injuries could be avoided as well as the costs that follow the injuries.
Danner Morrison, 7th Period
ReplyDeleteThe Third Industrial Revolution
The Economist
The world economy has gone through two industrial revolutions over the past few centuries: in the late 18th century there was the introduction of machines and factories that resulted in goods being mass produced, and then in the early 20th century the assembly line was introduced, further streamlining production and industrializing the economy. Now, with advances in technology, a new industrial revolution may be approaching: one that allows mass customization. 3D printers are capable of quickly manufacturing items that are too complicated to be done by hand or even in most factories. Highly specialized tools or components can be built on site, so there is no more reliance on a supply chain or a specialized facility to make and then deliver said items. Granted, 3D printers cannot produces items at the sheer volume factories can, but perhaps one day 3D printers will achieve that level.
The technology of 3D printing looks promising to me. In the future, rather than having to open up a factory if you have an idea you want to make, you could open a business in your home and manufacture your product in your own office, so I can foresee children foregoing lemonade stands as a source of income for more exciting things, like... powertools or skateboards (I figure the day that 3D printers are commonplace in the average household, children will figure out it potential). I eagerly await a Jetsons-esque future where one can purchase the blueprints for a product, and make it in their own household, like... shoes (by the time I have a 3D printer, I may think of something more creative to buy).
"The Third Industrial Revolution." The Economist. The Economist Newspaper, 21 Apr. 2012. Web. 27 Apr. 2012. .
Jeremy Howell 7th
ReplyDeleteCNN
A cost of war: Soaring disability benefits for veterans
money.cnn.com/2012/04/27/news/economy/veterans-disability/index.htm?iid=SF_BN_River
CNN reports that the amount of money paid to Veterans increased significantly in recent years. The army has claimed that over 7,000 people died, and countless others were injured during the years of conflict between the United States and the Middle East. Now with so many veterans adjusting to civilian life after the Iraq War has officially ended many Soldiers are receiving their first disability checks. The army pays two kinds of checks, one is for soldiers that are completely disabled and the other is for partial disability. Soldiers will receive these checks until their death.
I have no problem with paying so much many for soldiers. We can never have too much protection. Those men risked their lives to protect mine and they should be honored for that. The money we pay as a country does not matter when it goes to the veterans.
From: Briana Noel
ReplyDeleteTo: Briana Imani
Sent: Saturday, April 28, 2012 12:02 AM
Subject:
President Obama spoke to UNC students on April 24, 2010 about how Congress may double the interest rate on student loans. by doing this, it's making college way more harder to fund. President Obama says that he wants college to be affordable for everyone so that US can continue to have bright students. 160,000+ students would be affected solely in North Carolina.
This is a very important issue. Many students already struggle to pay for college so if the intrest rates are double it would be twice as hard to pay, and then students will end up having to drop out of college because they cant afford it. I strongly agree with President Obama, everyone should have a chance to go to college and this puts a barrier on the number of students that'll be able to attend.