Weed-Munching Goats Run
Out of Detroit - (www.abcnews.go.com) Goats
brought in to clean up part of a Detroit neighborhood are getting the boot,
after it was discovered that a city ordinance bans farm and wild animals. The
18 goats were supposed to munch weeds and other troublesome vegetation from a
four-acre lot, after which the land would be converted to an urban farming
project. “Once the vegetation was cleaned up, then we would have the volunteers
come in, take the trash out of the area, and using the goats and the volunteers
we would be clearing this ground for future agricultural use,” said Kevin
Pollara, a consultant for the project in Brightmoor, a neighborhood on the
city’s west side. He said the project, called Idyll Farms Detroit, would have
been a success, but the animals will be removed. “We will be in full
compliance. We will be removing the animals, because we’re interested in
complying,” he said. “We’re not looking to fight with the city. We want to
collaborate with the city.”
Obama's
new student debt plan may end up backfiring - (finance.yahoo.com) The
White House says the new executive order will affect as many as five million
borrowers, but it will not be available until December 2015. Yahoo Finance
Editor-in-Chief Aaron Task has reservations about the order. “In 20 years the
debt goes away if you haven’t repaid it all and guess who it goes back to? The
taxpayer. And I just don’t think that that’s going to end very well for the
taxpayer. It does give an incentive for someone to make less money because
their debt payment is going to be less and they know over the course of time
that debt’s going to go away,” he says. Yahoo Finance’s Lauren Lyster points
out that this might encourage students to take out more debt than they normally
would. Task adds, “That might be the origin of the student debt crisis in the
first place - the availability of credit.”
The
Nation's Most Vicious Obamacare Fight Just Took A Wild Turn - (www.businessinsider.com) McAuliffe and the state Senate, which up until
this week was narrowly controlled by Democrats, have bickered with the Republican-controlled
House of Delegates in Virginia over the expansion, which the governor says
could expand coverage to as many as 400,000 Virginians. But late Sunday,
Virginia Republicans effectively teamed up with one Senate Democrat and threw
the debate for a loop. State Sen. Phillip Puckett is
set to resign on Monday,
a move that led some Democrats to accuse Republicans of "buying"
Senate control. Puckett's resignation leads the way for him to get a
job as deputy director of the state tobacco commission and for his daughter to
be confirmed for a state judgeship. Depending on how you look at it, it's
politics at its worst — or best. "Republicans I've talked to are chortling,"
Larry Sabato, founder and director of the University of Virginia Center
for Politics, told Business Insider. "They think it's one of the cleverest
things they've done."
Where
have all the missing American workers gone? - (finance.yahoo.com) The
unemployment rate has been on a slow downward trajectory since the recession
ended nearly five years ago. While the overall jobless level has dropped to
non-recession levels, the number of the working-age people with jobs is barely
over 6 in 10, hovering at a level reminiscent of the late 1970s. In May, the
U.S. workforce-participation rate — the combination of those with jobs and
unemployed workers actively seeking them — was just 62.8 percent, the same as
the month before. Job markets have been essentially flat since October. Where
have all the missing workers gone? A key factor, nearly all agree, is the
growing exodus from the job market of Baby Boomers. Born roughly in the
post-World War II period from 1946 to 1964, these workers are now at or fast
approaching retirement age.
Retirement
Savings Fears Grip Americans: “I Don’t Have Enough” - (finance.yahoo.com) Americans
are freaking out about their personal savings – and for good reason. A recent Gallup pollfound
that 59 percent of those surveyed were very or moderately worried they won’t
have enough money for retirement – by far their biggest concern. Many people
once counted on a triad of support for retirement – Social Security, personal
savings, and employer-sponsored pensions. Yet in the wake of the Great
Recession and a long stretch of high unemployment and stagnant wages, the
once-dependable foundation has been crumbling. Employers have phased out
generous defined benefit pension programs in favor of 401(k)s and other
workplace-based retirement accounts. Personal savings have taken a dive as many
people have tapped retirement savings to pay the rent or help make ends meet. And
many young people seriously question whether the Social Security trust fund
will be able to pay them anything by the time they retire.
Fed's
Bullard says macroeconomy much closer to normal - (www.reuters.com)
Central Banks Channel Piketty Inequality Concerns, Nowotny Says - (www.bloomberg.com)
Central Banks Channel Piketty Inequality Concerns, Nowotny Says - (www.bloomberg.com)
China's
Central Bank Prevails in Policy Battles Over Economic Future - (online.wsj.com)
German Media Slam ECB Rate Move - (online.wsj.com)
German Media Slam ECB Rate Move - (online.wsj.com)
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