Skip to main content


Showing posts from November 17, 2012


Central bankers are feverishly attempting to create their own new world: a utopia in which debts are never restructured, and there are no consequences for fiscal profligacy, i.e. no atonement for prior sins. 

They have created Potemkin villages on a Jurassic scale. The sum total of the volatility they are attempting to suppress will be less than the eventual volatility encountered when their schemes stop working. 

Most refer to comments like this as heresy against the orthodoxy of economic thought. We have a hard time understanding how the current situation ends any way other than a massive loss of wealth and purchasing power through default, inflation or both.

This is nothing more than a chilling prescription for the destruction of wealth through the dilution of capital by monetary authorities. Central banks have become the great enablers of fiscal profligacy. They have removed the proverbial policemen from the bond market highway. If central…


Both Political Parties Have Given Up On America's Poor

The Economist | Nov. 9, 2012, 1:03 PM 

America’s poor were little mentioned in Barack Obama’s re-election campaign. They deserve better.

WHEN Barack Obama first ran for president, Emma Hamilton was part of that politically crucial cohort, the white working class. A tall woman with tawny hair, broad shoulders, a firm handshake and a forthright, direct manner, Ms Hamilton worked as a loader at a factory in Sumter, a modest city of 40,000 in east-central South Carolina. In July 2008, however, after seven years on the factory floor, she mangled her hand between two heavy rollers. The accident would leave her unable to work.

She lost her house three years later, in April 2011. She, her 20-year-old son and her dog moved into her teal Chevy van, where they have been living ever since, collecting metal cans during the day and sleeping in a grocery-store car park at night.

When a pain in Ms Hamilton’s leg grew too severe to ignore, an emplo…


Secession in the United States can refer to secession of a state from the United States, secession of part of a state from that state to form a new state, or secession of an area from a city or county.

Attempts at or aspirations of secession from the United States have been a feature of the country's politics since its birth. Some have argued for a constitutional right of secession and others for a natural right of revolution. The United States Supreme Court ruled unilateral secession unconstitutional while commenting that revolution or consent of the states could lead to a successful secession.

The one serious secession movement was defeated in the American Civil War. In 1860 and 1861, eleven of the fifteen southern states where slavery was legal declared their secession from the United States and joined together as the Confederate States of America. It collapsed in 1865 after losing the war with the northern states.[1]

A 2008 Zogby International poll revealed that 22% of Americans …


Mutoko’s own golden fruit

November 17, 2012 

MANGO fruits, famed for their succulent and mouthwatering taste, have awakened the once sleepy district of Mutoko into a hive of business activities with motorists and juice companies flooding the area in search of the tropical fruit.

Report by Jairos Saunyama

Moneybags in Mutoko are now brimming as the golden fruit ripens. It is nothing else, but the mango fruit which has become the major source of cash for households in Mutoko.

Smiles have been brought back to the people of Mutoko, an area located about 143km east of the capital, as time for them to make “big money” has arrived.

Women, sometimes barefooted and with babies strapped on their backs, are seen braving the intense heat and at the same time jostling for customers with every car or commuter omnibus that passes by.

Such is a routine for the women who, by sunset, are substituted by their children who by then would have left school.

The kids will be carrying dishes and tins full of the frui…


PM wants mangoes

Saturday, November 17 2012

MANGO SEASON all year round?

Prime Minister Kamla Persad-Bissessar yesterday raised this possibility as she also announced the State was reviewing the possibility of the removal of import duties from food items in a bid to further cut the price of food.

In a special statement to the House of Representatives on the issue of the removal of Value Added Tax (VAT) from non-luxury food, Persad-Bissessar said the State is sourcing a variety of mango (which is native to India) from the United States

“Recently, I recall Cabinet approved for us to try sourcing from the United States mango plants which bear mangoes all year round,” 

Persad-Bissessar said as she noted the State would push to address the supply side of the problem of high food prices by growing more “major fruits”. 

“There is another measure we are considering,” she said. “There are duties on food items that are paid on imported food. That comes in via the (CED) Common External Tariff which …