Destruction in Chile

Blog#5
http://www.economist.com/world/americas/displaystory.cfm?story_id=15591569&source=features_box_main

Analysis:

Magnitude-(Noun)size;extent;dimension.

Chile-A republic in South America on the pacific coast:14,508,168.

Epiicenter-A point directly above the true center of disturbance.

Tsunami-A usually large sea wave produced by a seaquake or undersea volcanic eruption.
http://dictionary.reference.com/browse/tsunami

Expanation:

This earthquake was 8.8-magnitude. That means it was a huge shake for everyone in Chile. The president of Chile Michelle Bachelet, estimated that 1.5m homes were damaged and 2m people were affected by this natural disaster. After this disaster about 75 after shocks happen. After shocks are little earthquakes after a really big earthquake. Another diasater is that300 prisoners to escape from a jail in Chillán, a city close to the epicentre, of which only 60 have since been recaptured. Tons along the region were too crumbling down. This has every little to do with economics because with the vast amount of destruction to these homes the real estate is distroyed and insurance companies will have to pull miricals in order for chile to ever get back to its orgional place.

Prediction:

As we thought Haiti was enough to bear, the earthquake in Chile occurs. When natural disasters happen there is nothing we can do but rebuild and raise money for the building and structures of those that collapes.I believe these two earthquakes had affected us a great deal but there is no telling what will come of mother nature. All we can do is help raise money, rebuild and pray that another does not happen. When we see all these other countries struggling as americans it's our duity to help but keep in mind we are also in an economic rut ourselves.

Health Care Reform

Health Care Reform
Blog #4
http://topics.nytimes.com/top/news/health/diseasesconditionsandhealthtopics
/health_insurance

1)Description:
health insurance-insurance that compensates the insured for expenses or loss incurred for medical reasons, as through illness or hospitalization.
bill-a form or draft of a proposed statute presented to a legislature, but not yet enacted or passed and made law.
bipartisan-presenting, characterized by, or including members from two parties or factions.
public option-self explanatory public option is the choice made to the public.
http://dictionary.reference.com/browse and http://www.economist.com/research/economics/

2)Analysis:
It has come to our attention that we are in a rut within distribution of medical insurance throughout the United States. what does this article have to do with economics? The cost is so great that people can not afford medical insurance. About one fourth of the United States population goes without medical insurance.For some the price is so outrageous it makes headlines in newspapers. http://www.nytimes.com/2010/02/16/health/policy/16anthem.html?scp=1&sq=health care crisis.Things get even harder trying to climb up from this economic downfall.

3)Explanation:
Health insurance has been available to people but to a certain extent. This event has happen because people can no longer afford many things because the economic recession let alone medical insurance. from watching the "sicko" i have learned a great deal about medical insurance and the horrible things it does to people.

4)Prediction:
hopefully by Feb 22nd President Obama and our nations Representatives and Senate will figure a solution to this great problem. with the goals that President Obama wants to pursuit it seems reasonable. He wants to at least insure thirty million people who are uninsured.


 

Greece 'may cut spending further'

http://news.bbc.co.uk/2/hi/business/8517319.stm
Blog#3
Description-

1)Cost-cutting proposal: Is a plan by the Greece government to lower the spending in the country by raising taxes.
2)Eurozone: A geographic and economic region that consists of all the European Union countries that have fully incorporated the euro as their national currency.http://dictionary.reference.com/browse/eurozone
3)Currency: Means by which some countries try to defend their currency from speculative attack.
4)Mr. Junker: "Jean-Claude Juncker (born 9 December 1954) is a Luxembourgian politician, the leader of the Christian Social People's Party. He is the incumbent Prime Minister of Luxembourg, having succeeded Jacques Santer on January 20, 1995. He is also currently Luxembourg's Minister for Finances, a position that he has held since 14 July 1989. He has served two..."http://www.daylife.com/topic/Jean-Claude_Juncker
5)Luxembourg: Prime Minister of Greece.

Analysis-

This article is self explanatory. Basically if Greece does not stop spending they will be in an even greater debt than they already are. The Prime Minister Luxembourg wants a back up pain just in case there will be an economic down fall. Other politicians like Mr. Juncker feel that there is no need to prepare for the worst. in conclusion to this article a plan must be made by the dead line in March.

Explanation-

Greece is seeking a financial rescue package from fellow eurozone members as it tries to reduce its giant public deficit from 12.7% - more than four times what single currency rules allow.The plan is to reduce the percentage to 8.7% in the year 2010 by cutting public spending. If those plans do not work then the government will go into higher measures by increasing taxes.

Prediction-

If the spending continues to occur the economic down fall with not only effect Greece but the world as a whole. All the nations in the world will be effected by the change. i believe more problems will seep to the surface if we do not cure the main issue or peoples spending.

where do you volunteer?

Economics Blog: #2
February 5, 2010, 6:57 pm
Where Do You Volunteer?
By CATHERINE RAMPELL
We recently noted that volunteer rates edged up last year. Between September 2008 and September 2009, 26.8 percent of the population volunteered through or for an organization; the previous year, 26.4 percent of the population did so.
Today the Bureau of Labor Statistics published a handy pie chart showing where that quarter of the population chooses to volunteer. It turns out that the plurality of people who volunteer mainly do so for religious organizations:

Among all volunteers, the demographic group most likely to report that they mainly volunteer for their religious organizations were those without a high school diploma. Among volunteers who didn’t graduate from high school, 47.1 percent say that they mainly volunteer for a religious organization.









Description:
Volunteering plays as a very important resource or FREE resource that is there to help people. This static’s show that volunteering on ones own time is very slim.
Demographics- people, and the statistical study of them. Watching a gradual change or consistency through a chart or some sort of organization.
Population- The size of the world full of people and how the number of people continues to escalate.

Analysis:
There are many reasons why people volunteer. The main point is that volunteering ties in with economics because it’s free resources and people who may not be familiar with the system of economics may volunteer at an agency that has a lot to do with economics.

Explanation:
Statistics show that volunteering is not common as personal preference. So if we were to involve more people into doing free work to help others raise above the current situation of poverty it would make a much cleaner and healthy society as well as economy.

Prediction:
With schools making it a priority to volunteer. I believe that one day we will make streets clean and bring safety to our communities. Also a major problem is with a community with a lot of indigents people it will cause tourist and people with money to steer away. Hence causing the circulation of business to decrease.

Latest Stimulus Report Fuels Jobs Pressure

JANUARY 31, 2010, 2:43 P.M. ET
Latest Stimulus Report Fuels Jobs Pressure

By LOUISE RADNOFSKY
WASHINGTON — Recipients of economic-stimulus money said they had used the funds to pay 599,108 workers in the last quarter of 2009, fewer than the number of jobs they had reported to have created or saved in the first seven months after the plan was enacted.
The recipients' reports, published on the official government Web site recovery.gov late Saturday night, are likely to fuel further controversy over the impact of the $787 billion package, as Democrats seek to craft new jobs-creation proposals to address the country's continued, high jobless rate.
Many opinion polls suggest that most voters do not believe the current stimulus program, which was passed last February, is working.
Stimulus recipients previously reported that they had directly "created or saved" 640,329 jobs by September 30, 2009, but their filings were widely criticized after it emerged that some people had reported saving jobs when they had actually spent the money on pay raises or paying employees who were not in danger of being laid off.
In December, the White House Office of Management and Budget changed its guidance, telling recipients they should start counting every worker whose salary was funded with stimulus money, rather than guessing whether the jobs would have existed in the absence of the federal plan. Opponents of the program accused the administration of "moving the goal posts" to make the plan appear more successful.
Liberal think tanks such as the Economic Policy Institute said ahead of Saturday's release that the jobs numbers didn't take into account the full economic impact of the stimulus package, such as jobs indirectly created as a result of people being hired to work on stimulus projects, or of people receiving food stamps or other aid funded by the stimulus program.
The White House Council of Economic Advisers has estimated that the plan has kept between 1.5 million and two million jobs in the economy through the end of 2009. In his State of the Union address to Congress last week, President Barack Obama said that "because of the steps we took, there are about two million Americans working right now who would otherwise be unemployed." A White House spokeswoman didn't immediately respond to a request for comment.

Description:

This article articulates alot about how the government has helped employee 640,329 people who were laid off. The stimulus package is a government program funded into finding jobs. Some may ask. What does this article have anything to do with economics? I would respond by saying "Without people and there jobs the there would be no regulations or circulations with money." Hence money plays a key role in economics. Economics is the study of how people try to satisfy seemingly unlimited and competing wants through the careful use of relatively scarce resources. (p.6) From textbook. Recipient-a person or thing that receives. (dictionary.com) Stimulus-something that incites to action or exertion. (dictionary.com) Budget-all annual procedure to decide how much public spending should be in the year ahead and what mix of taxation charging for services and borrowing should fiance it. (http://www.economist.com/research/economics/) Laid off-to dismiss, temporarily because of slack in business. (dictionary.com)

Analysis:

The news of our economic crisis is not new news. People are losing their jobs within minutes of the day. The unemployment rate in the United States from 2007-2008 was 4.6-5.8, which is increasingly a large amount of people. There are so many reasons why we are somewhat still in an economic rut. Money has become scarce, stocks were losing value and jobs were being lost. On the way to recovery we, as the United States have worked together to create many program and in this particular article a governmental program that will help rebuild the economy in the United States.

Explanation:

The economy is a circulation of standards that is either met or not. In recent records the economy has been in some turmoil because of the neglect in many areas in production and overall choices people make. The evaluation is endless as were looking into the real economic down fall that caused people to lose their jobs.

Prediction:

I completely feel that there is hope for the economy and the people. I really do believe in multinational conversion in our nations. We are all neighbors and should work together to make an even great stability for our well-being.