US home prices climbing steadily amid stronger demand - Yahoo Finance: "The Standard & Poor's/Case-Shiller 20-city home price index rose 4.9 percent in April from 12 months earlier, roughly the same annual pace as March, S&P Dow Jones Indices said Tuesday.
Strong job growth and low mortgage rates have prompted greater demand for housing, boosting home values. But the continued gains are at roughly double the pace of wage growth, potentially pricing out many would-be buyers.
"Home prices continue to rise across the country, but the pace is not accelerating," said David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.
Prices in the Denver metro areas climbed 10.3 percent, while home values in San Francisco rose 10 percent. Values increased more than 7.5 percent in Dallas, Miami, Seattle and Tampa. But price growth was tepid in the Boston, Cleveland and Washington, DC areas, where prices were up by 1.8 percent or less.
The Case-Shiller index covers roughly half of U.S. homes. The index measures prices compared with those in January 2000 and creates a three-month moving average. The April figures are the latest available.
Other measures are showing faster increased in prices, reflecting a shortage of homes available in the market.
May sales figures from the National Association of Realtors found that median home prices increased 7.9 percent over the past 12 months to $228,700, about $1,700 shy of the July 2006 peak.
The market has just 5.1 months' supply of homes, versus an average of six months in a healthy market.
Driving much of the growth has been a steady improvement in job growth and relatively low mortgage rates."
'via Blog this'
Tuesday, June 30, 2015
Zillow jolts Bay Area renters, homeowners with more bad news - San Francisco Business Times
Zillow jolts Bay Area renters, homeowners with more bad news - San Francisco Business Times: "Zillow (NASDAQ: Z) said San Francisco rents are up 15 percent from a year ago, pushing the median monthly rent to $3,198, according to the May Zillow Real Estate Market Reports. Last month Zillow said San Francisco is at the forefront of the nation's "rental crisis."
Zillow says the San Francisco metro housing market is the fourth fastest-growing large market in the country — after Denver, Dallas and San Jose — among the nation's 35 largest markets.
(Denver, yes Denver, saw year-over-year home values jump 14.7 percent in May to just under $300,000 — a record.)
May's Zillow Home Value Index for San Francisco rose at an annual rate of 10.7 percent to $746,600 — a record for the metro area.
In San Jose, metro home values hit $883,200, up 11.9 percent from a year ago. Both the San Jose and San Francisco areas' double-digit growth in home values were driven by low interest rates, low inventory and high job growth, Zillow said.
But next year, growth in the home-value index is expected to slow to an annual rate of 5.3 percent in San Francisco and 4.7 percent in San Jose. That may come as a shock to Bay Area homeowners who have enjoyed a steady stream of Realtors' postcards in recent years touting how much neighboring properties have fetched. (Let's just say, the region's home prices moved beyond absurdity some time ago.)
"
'via Blog this'
Zillow says the San Francisco metro housing market is the fourth fastest-growing large market in the country — after Denver, Dallas and San Jose — among the nation's 35 largest markets.
(Denver, yes Denver, saw year-over-year home values jump 14.7 percent in May to just under $300,000 — a record.)
May's Zillow Home Value Index for San Francisco rose at an annual rate of 10.7 percent to $746,600 — a record for the metro area.
In San Jose, metro home values hit $883,200, up 11.9 percent from a year ago. Both the San Jose and San Francisco areas' double-digit growth in home values were driven by low interest rates, low inventory and high job growth, Zillow said.
But next year, growth in the home-value index is expected to slow to an annual rate of 5.3 percent in San Francisco and 4.7 percent in San Jose. That may come as a shock to Bay Area homeowners who have enjoyed a steady stream of Realtors' postcards in recent years touting how much neighboring properties have fetched. (Let's just say, the region's home prices moved beyond absurdity some time ago.)
"
'via Blog this'
Friday, June 26, 2015
Meet the world’s biggest stock market bubble since the dot-com boom - The Washington Post
Meet the world’s biggest stock market bubble since the dot-com boom - The Washington Post: "This is a bubble of epic proportions. In 12 months, Chinese stock markets rose enough to create $6.5 trillion of value. It’s hard to picture, but that’s a stunning amount of money. It’s the equivalent of about 70 percent of China’s GDP in 2013, and about 40 percent of the total value of the New York Stock Exchange. "
'via Blog this'
'via Blog this'
China stock swoon could signal end of bull run | America's Markets
China stock swoon could signal end of bull run | America's Markets: "Just two weeks after hitting a new high and sporting a 60% year-to-date gain, mainland China’s Shanghai composite index is down nearly 19% and flirting with a bear market.
The steep, dramatic drop is raising questions as to whether the bull market China — which has been the envy of the world the past 12 months with gains in excess of 150% — is a bubble in the process of bursting.
The wild volatility in mainland China shares, which has been fueled by government stimulus, everyday Chinese folks buying into the stock frenzy with borrowed money to goose returns, and fears of overvaluation, continued Friday.
The Shanghai composite plunged 7.4%, extending its losses since its June 12 high of 5166.35 to 18.8%. "
'via Blog this'
The steep, dramatic drop is raising questions as to whether the bull market China — which has been the envy of the world the past 12 months with gains in excess of 150% — is a bubble in the process of bursting.
The wild volatility in mainland China shares, which has been fueled by government stimulus, everyday Chinese folks buying into the stock frenzy with borrowed money to goose returns, and fears of overvaluation, continued Friday.
The Shanghai composite plunged 7.4%, extending its losses since its June 12 high of 5166.35 to 18.8%. "
'via Blog this'
China’s Stock Market Plunges - The New York Times
China’s Stock Market Plunges - The New York Times: "Share prices in China plunged on Friday in one of the sharpest sell-offs in years, accelerating a downturn this past week in what has been, for much of this year, the world’s best-performing stock market.
China’s two major market indexes fell in tandem. The Shanghai composite fell 7.4 percent on Friday. The Shenzhen composite fell even more, dropping 7.9 percent. "
'via Blog this'
China’s two major market indexes fell in tandem. The Shanghai composite fell 7.4 percent on Friday. The Shenzhen composite fell even more, dropping 7.9 percent. "
'via Blog this'
Chinese Gold Standard Could Create 'Fireworks' - Bloomberg Intelligence - TheStreet
Chinese Gold Standard Could Create 'Fireworks' - Bloomberg Intelligence - TheStreet: "Hoffman estimates that to create an exchange rate of one ounce of gold for every $64,000, the country would need about 10,000 metric tons of the metal. "That's nine times the national official holdings and about 6 percent of all the bullion ever mined globally," Hoffman says. "
'via Blog this'
'via Blog this'
Thursday, June 25, 2015
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Gout
Alcohol and diet may play a role in contracting gout, which is a condition caused by the formation of uric acid crystals in the joints."
'via Blog this'
Alcohol and diet may play a role in contracting gout, which is a condition caused by the formation of uric acid crystals in the joints."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Anemia
Heavy drinking can lower your red blood cell count, which can trigger symptoms of fatigue, shortness of breath, and lightheadedness."
'via Blog this'
Heavy drinking can lower your red blood cell count, which can trigger symptoms of fatigue, shortness of breath, and lightheadedness."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Fetal alcohol spectrum disorders
Alcohol can affect the brain at any stage of development—even before birth. Fetal alcohol spectrum disorders are the full range of physical, learning, and behavioral problems, and other birth defects that result from prenatal alcohol exposure. The most serious is Fetal Alcohol Syndrome."
'via Blog this'
Alcohol can affect the brain at any stage of development—even before birth. Fetal alcohol spectrum disorders are the full range of physical, learning, and behavioral problems, and other birth defects that result from prenatal alcohol exposure. The most serious is Fetal Alcohol Syndrome."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Immune system
Drinking too much can weaken your immune system, making your body a much easier target for disease. Chronic drinkers are more liable to contract diseases like pneumonia and tuberculosis than people who do not drink too much. Drinking a lot on a single occasion slows your body’s ability to ward off infections – even up to 24 hours after getting drunk."
'via Blog this'
Drinking too much can weaken your immune system, making your body a much easier target for disease. Chronic drinkers are more liable to contract diseases like pneumonia and tuberculosis than people who do not drink too much. Drinking a lot on a single occasion slows your body’s ability to ward off infections – even up to 24 hours after getting drunk."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Cancer
Drinking too much alcohol can increase your risk of developing certain cancers, including cancers of the mouth, esophagus, throat, liver, and breast. "
'via Blog this'
Drinking too much alcohol can increase your risk of developing certain cancers, including cancers of the mouth, esophagus, throat, liver, and breast. "
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Heart
Drinking a lot over a long time or too much on a single occasion can damage the heart, causing problems including cardiomyopathy, arrhythmia, stroke, and high blood pressure."
'via Blog this'
Drinking a lot over a long time or too much on a single occasion can damage the heart, causing problems including cardiomyopathy, arrhythmia, stroke, and high blood pressure."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Cirrhosis of the liver
Most people who consume alcohol do not suffer damage to the liver, but heavy alcohol use over several years can cause chronic injury to the liver. For women, consuming two to three drinks—including beer and wine—per day and for men, three to four drinks per day, can lead to liver damage and cirrhosis."
'via Blog this'
Most people who consume alcohol do not suffer damage to the liver, but heavy alcohol use over several years can cause chronic injury to the liver. For women, consuming two to three drinks—including beer and wine—per day and for men, three to four drinks per day, can lead to liver damage and cirrhosis."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Diabetes
Too much alcohol can cause chronic inflammation of the pancreas (pancreatitis), which can impair its ability to secrete insulin, ultimately leading to diabetes. If you already have diabetes, alcohol is even more dangerous because if your liver gets damaged (the organ that stores your glucose supply), your glucose levels may become unsteady and put you at risk for hypoglycemia."
'via Blog this'
Too much alcohol can cause chronic inflammation of the pancreas (pancreatitis), which can impair its ability to secrete insulin, ultimately leading to diabetes. If you already have diabetes, alcohol is even more dangerous because if your liver gets damaged (the organ that stores your glucose supply), your glucose levels may become unsteady and put you at risk for hypoglycemia."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Erectile dysfunction
Alcohol abuse is the leading cause of impotence and other sexual dysfunctions, mainly because of the depressant effect of alcohol on the nervous system."
'via Blog this'
Alcohol abuse is the leading cause of impotence and other sexual dysfunctions, mainly because of the depressant effect of alcohol on the nervous system."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Pancreatitis
Heavy drinking, usually over a period of 10 years or more, is the cause of about eight out of 10 cases of chronic pancreatitis. Alcohol disrupts the digestive process by inflaming the pancreas and damaging its cells, often causing severe pain."
'via Blog this'
Heavy drinking, usually over a period of 10 years or more, is the cause of about eight out of 10 cases of chronic pancreatitis. Alcohol disrupts the digestive process by inflaming the pancreas and damaging its cells, often causing severe pain."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "Damage to the nervous system and brain cells
Alcohol interferes with the transmission of nerve impulses in the brain and nervous system. Chronic alcohol abuse can result in psychological problems, rapid pulse, trembling, anxiety, and the loss of intellectual ability."
'via Blog this'
Alcohol interferes with the transmission of nerve impulses in the brain and nervous system. Chronic alcohol abuse can result in psychological problems, rapid pulse, trembling, anxiety, and the loss of intellectual ability."
'via Blog this'
Health Problems Caused by Drinking Too Much Alcohol
Health Problems Caused by Drinking Too Much Alcohol: "A slew of recent studies are starting to promote alcohol as "healthy"; that is, drinking a few glasses of wine in a week. However, those that consume three or more drinks a day, may be damaging their bodies irreparably. Learn what conditions alcohol abuse may be responsible."
'via Blog this'
'via Blog this'
1% of Chinese on drugs as synthetic substances sold over internet
1% of Chinese on drugs as synthetic substances sold over internet - The Times of India: "BEIJING: China has admitted for the first time that one out of every 100 Chinese is a drug user. It said that the total number of drug users could be 14 million, which comes to one percent of the 1.4 billion Chinese citizens. The number may be higher if only the adult population is taken into account.
The sharp increase in drug addiction is driven by the easy a availability of synthetic drugs like methamphetamine, which is widely marketed and sold over the Internet. In fact, 80 percent of new drug users in 2014 were those addicted to synthetic substances.
Revealing another shocking facet of the drug situation, the National Anti-Drug Commission, said that nearly 56 percent of the drug users were in the productive age group of 18 to 35. Even government officials, businessmen and celebrities have fallen prey to it, Liu Yuejin, deputy director of the commission, lamented. "
'via Blog this'
The sharp increase in drug addiction is driven by the easy a availability of synthetic drugs like methamphetamine, which is widely marketed and sold over the Internet. In fact, 80 percent of new drug users in 2014 were those addicted to synthetic substances.
Revealing another shocking facet of the drug situation, the National Anti-Drug Commission, said that nearly 56 percent of the drug users were in the productive age group of 18 to 35. Even government officials, businessmen and celebrities have fallen prey to it, Liu Yuejin, deputy director of the commission, lamented. "
'via Blog this'
Wednesday, June 24, 2015
43% of people in relationships have no idea what their partner earns - Yahoo Finance
43% of people in relationships have no idea what their partner earns - Yahoo Finance: "According to a new Fidelity survey, 43% of couples said they had no idea how much their partner earns. When asked to hazard a guess, 10% were off by more than $25,000. Their better half’s paycheck wasn’t all they were in the dark about."
'via Blog this'
'via Blog this'
New Delhi’s move against Islamabad blocked by Beijing | Arab News
New Delhi’s move against Islamabad blocked by Beijing | Arab News: "NEW DELHI: Indian Prime Minister Narendra Modi on Tuesday voiced concerns over China’s move to veto a UN action against Pakistan for releasing alleged Mumbai terror mastermind Zakiur Rehman Lakhvi, the Press Trust of India reported. According to sources, India has taken up the issue with China at the highest levels of leadership.
Modi’s outburst came after China blocked India’s move in the United Nations for action against Pakistan. Separately, India’s Ministry of External Affairs Spokesperson Vikas Swarup confirmed that they were taking up the matter with Chinese leadership."
'via Blog this'
Modi’s outburst came after China blocked India’s move in the United Nations for action against Pakistan. Separately, India’s Ministry of External Affairs Spokesperson Vikas Swarup confirmed that they were taking up the matter with Chinese leadership."
'via Blog this'
Monday, June 22, 2015
A Saudi-Russia emerging alliance | Arab News
A Saudi-Russia emerging alliance | Arab News: "The US supported Baghdad despite its sectarian policies and left the Assad regime in Syria to commit the greatest tragedy in the history of the region — 250,000 deaths and the displacement of 10 million. It seems that the negativity generated by Washington’s side and the dangerous outcomes resulting from its policies, made the Saudis think about expanding their choices and political investments in the East and West."
'via Blog this'
'via Blog this'
Pakistan ‘ready to defend holy land against Houthis’ | Arab News
Pakistan ‘ready to defend holy land against Houthis’ | Arab News: "JEDDAH: Pakistan President Mamnoon Hussain has promised Custodian of the Two Holy Mosques King Salman that his country would be ready to defend the Kingdom if the Houthis manage to enter Saudi territory.
Hussain made the comments during a meeting with King Salman here. Crown Prince Mohammed bin Naif, deputy premier and interior minister, was also present. Hussain was accompanied by Ambassador Manzoor ul Haq and Consul General Aftab Khokher.
Later, in an interview with a local publication, Hussein said: “There are two million Pakistanis living in Saudi Arabia and they will be the first to defend it,” he said.
He said he had several meetings with Saudi leaders and leaders of other countries when Yemen’s crisis began. The OIC recently had a meeting in Jeddah to affirm its support for the Kingdom. The Muslim world was hoping for a peaceful resolution to the situation, he said. "
'via Blog this'
Hussain made the comments during a meeting with King Salman here. Crown Prince Mohammed bin Naif, deputy premier and interior minister, was also present. Hussain was accompanied by Ambassador Manzoor ul Haq and Consul General Aftab Khokher.
Later, in an interview with a local publication, Hussein said: “There are two million Pakistanis living in Saudi Arabia and they will be the first to defend it,” he said.
He said he had several meetings with Saudi leaders and leaders of other countries when Yemen’s crisis began. The OIC recently had a meeting in Jeddah to affirm its support for the Kingdom. The Muslim world was hoping for a peaceful resolution to the situation, he said. "
'via Blog this'
90 families abandoned by Saudis in Philippines | Arab News
90 families abandoned by Saudis in Philippines | Arab News: "RIYADH: Marriage between a Saudi and a Filipino can be successful with love and respect for each other and willingness to adapt to cultures, a Filipino rights activist has said.
As many as 90 families have been abandoned in the Philippines by Saudi men for various reasons, including cultural differences and language, John Leonard Monterona, regional coordinator of Filipino rights, told Arab News, adding that children are the main sufferers.
“The cultural differences can be overcome and language can be learnt. This will help the many abandoned wives and children who are living in difficult circumstances and struggling to get an identity,” he said, adding that they cannot be denied their right.
Quoted by a local daily, Najeeb Al-Zamil, founder of Return to the Roots Association that works for the welfare of children of foreign wives abroad, said 90 people aged between five and 40 years are living in severe conditions in the Philippines despite being products of a legal marriage between Saudis and Filipinos.
Al-Zamil called on these Saudi parents to recognize their children and stop denying them their rights.
Tawfiq Al-Swailem, head of the Saudi Charitable Society for the Welfare of Saudi Families Abroad or (Awasser), had earlier said that 2,103 families and 7,532 individuals in 31 countries, who are genetically related to Saudi Arabia, are left to fend for themselves."
'via Blog this'
As many as 90 families have been abandoned in the Philippines by Saudi men for various reasons, including cultural differences and language, John Leonard Monterona, regional coordinator of Filipino rights, told Arab News, adding that children are the main sufferers.
“The cultural differences can be overcome and language can be learnt. This will help the many abandoned wives and children who are living in difficult circumstances and struggling to get an identity,” he said, adding that they cannot be denied their right.
Quoted by a local daily, Najeeb Al-Zamil, founder of Return to the Roots Association that works for the welfare of children of foreign wives abroad, said 90 people aged between five and 40 years are living in severe conditions in the Philippines despite being products of a legal marriage between Saudis and Filipinos.
Al-Zamil called on these Saudi parents to recognize their children and stop denying them their rights.
Tawfiq Al-Swailem, head of the Saudi Charitable Society for the Welfare of Saudi Families Abroad or (Awasser), had earlier said that 2,103 families and 7,532 individuals in 31 countries, who are genetically related to Saudi Arabia, are left to fend for themselves."
'via Blog this'
Saturday, June 20, 2015
Daily Show's Jon Stewart on Charleston shooting: 'This was a terrorist attack' | World news | The Guardian
Daily Show's Jon Stewart on Charleston shooting: 'This was a terrorist attack' | World news | The Guardian: "The Daily Show host Jon Stewart has slammed America’s response to the mass shooting in a South Carolina church, predicting that nothing would be done in the wake of a “terrorist attack” that left nine people dead.
In a sombre opening to a show he promised would contain no jokes, Stewart said some people were already working hard to discount the idea that racism was the motive behind the massacre.
Dylann Roof, a 21-year-old white man, is currently in custody in Charleston."
'via Blog this'
In a sombre opening to a show he promised would contain no jokes, Stewart said some people were already working hard to discount the idea that racism was the motive behind the massacre.
Dylann Roof, a 21-year-old white man, is currently in custody in Charleston."
'via Blog this'
Ferocious lightning strikes all set to increase globally - The Times of India
Ferocious lightning strikes all set to increase globally - The Times of India: "LONDON: Ferocious lightning strikes are all set to increase globally, thanks to warming temperatures.
New climate models have predicted a 50% increase in lightning strikes across the world during this century as a result of warming temperatures associated with climate change.
University of California, Berkeley's climate scientist David Romps and his colleagues looked at predictions of precipitation and cloud buoyancy in 11 different climate models and conclude that their combined effect will generate more frequent electrical discharges to the ground.
"With warming, thunderstorms become more explosive," said Romps. "This has to do with water vapour, which is the fuel for explosive deep convection in the atmosphere. Warming causes there to be more water vapour in the atmosphere, and if you have more fuel lying around, when you get ignition, it can go big time"
More lightning strikes mean more human injuries; estimates of people struck each year range from the hundreds to nearly a thousand, with scores of deaths.
But another significant impact of increased lightning strikes would be more wildfires, since half of all fires, and often the hardest to fight, are ignited by lightning, Romps said."
'via Blog this'
New climate models have predicted a 50% increase in lightning strikes across the world during this century as a result of warming temperatures associated with climate change.
University of California, Berkeley's climate scientist David Romps and his colleagues looked at predictions of precipitation and cloud buoyancy in 11 different climate models and conclude that their combined effect will generate more frequent electrical discharges to the ground.
"With warming, thunderstorms become more explosive," said Romps. "This has to do with water vapour, which is the fuel for explosive deep convection in the atmosphere. Warming causes there to be more water vapour in the atmosphere, and if you have more fuel lying around, when you get ignition, it can go big time"
More lightning strikes mean more human injuries; estimates of people struck each year range from the hundreds to nearly a thousand, with scores of deaths.
But another significant impact of increased lightning strikes would be more wildfires, since half of all fires, and often the hardest to fight, are ignited by lightning, Romps said."
'via Blog this'
Indian cardiologist shot dead in Texas - The Times of India
Indian cardiologist shot dead in Texas - The Times of India: "According to local media accounts, Dr Gadasalli was investigated by the FBI recently in a currency structuring case, accused of making cash withdrawals of just under $10,000 to escape reporting requirements for over $10K withdrawals."
'via Blog this'
'via Blog this'
SP to Rajnath: Go into killing of 5 Muslims in Telangana - The Times of India
SP to Rajnath: Go into killing of 5 Muslims in Telangana - The Times of India: "Samajwadi Party state chief and MLA Abu Asim Azmi has complained to Union home minister Rajnath Singh in a letter and demanded justice for the families of five Muslim youths killed in a "fake encounter" by the Telengana police on April 7.
At a public meeting at Chanchalguda in Hyderabad on June 13, Azmi had called the killing of the five undertrials at Alair in Nalgonda district a "cold blooded murder" and alleged that it was aimed at instilling fear among Muslims.
Section 153A is invoked for promoting enmity between different groups on grounds of religion, race, place of birth, residence, language and such.
"I said that the five youths were handcuffed, chained and seated in a van and they were killed in cold blood as it is unbelievable that they tried to escape while 17 armed policemen guarded them. I also said the Telengana government didn't probe the case properly because the victims were Muslims while Andhra Pradesh had acted fast against those who allegedly killed 20 labourers in an encounter, as the victims were non-Muslims,""
'via Blog this'
At a public meeting at Chanchalguda in Hyderabad on June 13, Azmi had called the killing of the five undertrials at Alair in Nalgonda district a "cold blooded murder" and alleged that it was aimed at instilling fear among Muslims.
Section 153A is invoked for promoting enmity between different groups on grounds of religion, race, place of birth, residence, language and such.
"I said that the five youths were handcuffed, chained and seated in a van and they were killed in cold blood as it is unbelievable that they tried to escape while 17 armed policemen guarded them. I also said the Telengana government didn't probe the case properly because the victims were Muslims while Andhra Pradesh had acted fast against those who allegedly killed 20 labourers in an encounter, as the victims were non-Muslims,""
'via Blog this'
Friday, June 19, 2015
Heaviest June rain in 10 years drowns Mumbai - The Times of India
Heaviest June rain in 10 years drowns Mumbai - The Times of India: "MUMBAI: Mumbai's wettest June day since 2005 brought it to its knees on Friday, with the suburban train network getting crippled, roads getting water-logged, most office-goers not even venturing out of their homes, and the few who did getting fleeced by taxi and rickshaw-wallahs."
'via Blog this'
'via Blog this'
Tuesday, June 16, 2015
Monday, June 15, 2015
Why is a Richmond B.C. neighbourhood with many expensive mansions also one of the city’s ‘poorest’? | National Post
Why is a Richmond B.C. neighbourhood with many expensive mansions also one of the city’s ‘poorest’? | National Post: "Albert Lo, head of the Canadian Race Relations Foundation, is concerned residents with expensive assets in Canada, particularly houses, are earning most of their money outside the country and not reporting it to the B.C. and Canadian governments.
The Canadian Race Relations Foundation, which operates on a $24-million endowment from the federal government and ethnic groups, is urging the Canada Revenue Agency to more closely examine the earnings of immigrants who “park large amounts of money” in Canadian real estate and then “go back to work in China” or elsewhere, said Lo, a longtime Richmond resident and Realtor.
Jiun-Hsien Henry Yao, who ran for Richmond city council in 2014, is also troubled by the income-reporting problem. Normally, he said, “you would need a family income of $150,000 to $200,000 just to feel you can afford any home in Richmond.” But in high-end Thompson, most households report income well under $100,000.
Both Halsey-Brandt and Lo said even though the problem of low reported incomes seems most exaggerated in Thompson, it is also occurring in other parts of Richmond.
“Statistics Canada continues to show (the entire city of) Richmond as one of the poorest cities in British Columbia, with a very high child poverty rate,” says Halsey-Brandt, who also represented Richmond as a B.C. Liberal cabinet minister.
This is a “serious financial issue,” Halsey-Brandt said, “because of the demands placed on our health care and education systems by newcomers.”
Although people who live in expensive houses pay property taxes, Halsey-Brandt said, many appear to not be paying an appropriate share of provincial and federal income taxes, which fund highways, transit, universities, hospitals and much more.
The Metro Vancouver Housing Data Book says Richmond, on average, has the third highest prices for single-family dwellings of any municipality, behind only Vancouver and West Vancouver.
But that appears to contradict the reported poverty levels in Richmond, particularly among immigrant households.
The Housing Data Book says that, statistically, Richmond has the highest proportion of households maintained by immigrants who are, based on their reported incomes, judged to be in “extremely dire housing” situations.
Across Metro Vancouver, the Housing Data Book reports 51 per cent of the households that report spending at least half of their incomes on shelter, which is the definition of “extremely dire,” are maintained by immigrants. In Richmond, that figure jumps to 71 per cent.
Lo said the issue of low reported incomes relates in part to Richmond’s large number of so-called astronaut parents.
“If a family moves here, but the head of the family goes back to China or East Asia to make money, that means Richmond often ends up with the spouse and children. That family is not going to declare earning much money in Canada,” said Lo.
A federal government analysis recently showed that immigrants to Canada from China, as well as Taiwan and Korea, are most likely to declare the lowest incomes in Canada."
'via Blog this'
The Canadian Race Relations Foundation, which operates on a $24-million endowment from the federal government and ethnic groups, is urging the Canada Revenue Agency to more closely examine the earnings of immigrants who “park large amounts of money” in Canadian real estate and then “go back to work in China” or elsewhere, said Lo, a longtime Richmond resident and Realtor.
Jiun-Hsien Henry Yao, who ran for Richmond city council in 2014, is also troubled by the income-reporting problem. Normally, he said, “you would need a family income of $150,000 to $200,000 just to feel you can afford any home in Richmond.” But in high-end Thompson, most households report income well under $100,000.
Both Halsey-Brandt and Lo said even though the problem of low reported incomes seems most exaggerated in Thompson, it is also occurring in other parts of Richmond.
“Statistics Canada continues to show (the entire city of) Richmond as one of the poorest cities in British Columbia, with a very high child poverty rate,” says Halsey-Brandt, who also represented Richmond as a B.C. Liberal cabinet minister.
This is a “serious financial issue,” Halsey-Brandt said, “because of the demands placed on our health care and education systems by newcomers.”
Although people who live in expensive houses pay property taxes, Halsey-Brandt said, many appear to not be paying an appropriate share of provincial and federal income taxes, which fund highways, transit, universities, hospitals and much more.
The Metro Vancouver Housing Data Book says Richmond, on average, has the third highest prices for single-family dwellings of any municipality, behind only Vancouver and West Vancouver.
But that appears to contradict the reported poverty levels in Richmond, particularly among immigrant households.
The Housing Data Book says that, statistically, Richmond has the highest proportion of households maintained by immigrants who are, based on their reported incomes, judged to be in “extremely dire housing” situations.
Across Metro Vancouver, the Housing Data Book reports 51 per cent of the households that report spending at least half of their incomes on shelter, which is the definition of “extremely dire,” are maintained by immigrants. In Richmond, that figure jumps to 71 per cent.
Lo said the issue of low reported incomes relates in part to Richmond’s large number of so-called astronaut parents.
“If a family moves here, but the head of the family goes back to China or East Asia to make money, that means Richmond often ends up with the spouse and children. That family is not going to declare earning much money in Canada,” said Lo.
A federal government analysis recently showed that immigrants to Canada from China, as well as Taiwan and Korea, are most likely to declare the lowest incomes in Canada."
'via Blog this'
Sunday, June 14, 2015
The money changers — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate
The money changers — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate: "You betcha, Chad. Another reason why Vancouver is so unique these days. In Toronto, for example, you usually have to go to a sleazy place next to a tat parlour and a kick-boxing studio, go through a door covered in metal bars and talk to a woman with a nose ring to get a payday loan. But not in YVR, baby, where debt, financial servitude and negative cash flow are mainstream. You want some money because you’re broke and willing to pay 19%? Just come to Vancity.
Quietly, Canada’s largest credit union, with $18.4 billion in assets, has entered the slimiest little corner of the financial universe – giving emergency loans to people who have run out of money and are desperate enough to pay anything to get it. “Need money fast?” the ads say. “We can help with that.”"
'via Blog this'
Quietly, Canada’s largest credit union, with $18.4 billion in assets, has entered the slimiest little corner of the financial universe – giving emergency loans to people who have run out of money and are desperate enough to pay anything to get it. “Need money fast?” the ads say. “We can help with that.”"
'via Blog this'
Only 9 Indian universities make it to Times Asia rankings 2015 - The Times of India
Only 9 Indian universities make it to Times Asia rankings 2015 - The Times of India: "China now has 21 representatives in the top 100, going past Japan for the first time, with three of its universities as new entrants. Last year China had 18 universities and 15 in 2013. Both Peking University (fourth) and Tsinghua University (fifth) have moved up a place.
Hong Kong University managed to retain its third place and had a strong presence from the Chinese special administrative region, with all six of its universities in the top 50. The Hong Kong University of Science and Technology rose from ninth to seventh, while the Chinese University of Hong Kong stood at 13th."
'via Blog this'
Hong Kong University managed to retain its third place and had a strong presence from the Chinese special administrative region, with all six of its universities in the top 50. The Hong Kong University of Science and Technology rose from ninth to seventh, while the Chinese University of Hong Kong stood at 13th."
'via Blog this'
Lightning kills 12 in Madhya Pradesh - The Times of India
Lightning kills 12 in Madhya Pradesh - The Times of India: "BHOPAL: Twelve people were killed and eight seriously injured when they were struck by lightning in three districts across Madhya Pradesh in the last 24 hours.
While seven were killed in Chhindwara, two each were killed in Seoni and Agar districts, said police.
Those killed in Chhindwara have been identified as Rajesh Yadav 28, of Malanwada area, Ramnath Bhange, 18, his cousin Mahesh Bhange, 20, of Amarwada, Munshilal Sirkam, 28 and Sahtu Bai, 40, among others. Four others who sustained severe injuries were sent to district hospital.
Similarly, two children were killed and three others injured when lightning struck them at Narla village of Agar district on Friday night. Children Umrao Singh (10), Balu Singh (14) and three others took shelter under a tree in Narla, 25 kms from distirct headquarters after rains started. Suddenly, lightning struck them killing Umrao and Balu on the spot.
In a separate incident a Santoshi, 14 and her sister Jayanti, 12, were killed in Seoni district. Police said they took shelter under a house when lightning struck."
'via Blog this'
While seven were killed in Chhindwara, two each were killed in Seoni and Agar districts, said police.
Those killed in Chhindwara have been identified as Rajesh Yadav 28, of Malanwada area, Ramnath Bhange, 18, his cousin Mahesh Bhange, 20, of Amarwada, Munshilal Sirkam, 28 and Sahtu Bai, 40, among others. Four others who sustained severe injuries were sent to district hospital.
Similarly, two children were killed and three others injured when lightning struck them at Narla village of Agar district on Friday night. Children Umrao Singh (10), Balu Singh (14) and three others took shelter under a tree in Narla, 25 kms from distirct headquarters after rains started. Suddenly, lightning struck them killing Umrao and Balu on the spot.
In a separate incident a Santoshi, 14 and her sister Jayanti, 12, were killed in Seoni district. Police said they took shelter under a house when lightning struck."
'via Blog this'
The Middle East's Secret Religion | Saba Karim
The Middle East's Secret Religion | Saba Karim: ""It doesn't matter if it is DKNY, the bag itself is beautiful."
The comment sprung on me like an ambush of sorts, with the fragile veiling of a back-handed compliment. I'd rather buy a beautiful vintage street bag from Sunday Bazaar than an ugly one from Valentino, I silently responded in my head. To some, I am acutely aware, this is an oxymoron, as the possibility of anything Valentino even bordering on unattractive is impossible. I think what perhaps astonished me even more was the realisation that DKNY is considered a turn-up-your-nose-at, looked-down-upon brand to some folks in the desert!
We've been in the Middle East for less than a year but one of our first impressions, confirming the illusory nature of this region, has lasted: the lopsided emphasis that people place on materialism and designer labels. Rigid judgments are formed about people based on the luxury items they do or do not have, discussions bordering on intellectual discourse are held on the merits of various brands at social and workplace events. Few people balk from asking delicate questions along the lines of "How much did you buy it for?" I have suffered hosting and attending gatherings where there has been no other topic of conversation whatsoever."
'via Blog this'
The comment sprung on me like an ambush of sorts, with the fragile veiling of a back-handed compliment. I'd rather buy a beautiful vintage street bag from Sunday Bazaar than an ugly one from Valentino, I silently responded in my head. To some, I am acutely aware, this is an oxymoron, as the possibility of anything Valentino even bordering on unattractive is impossible. I think what perhaps astonished me even more was the realisation that DKNY is considered a turn-up-your-nose-at, looked-down-upon brand to some folks in the desert!
We've been in the Middle East for less than a year but one of our first impressions, confirming the illusory nature of this region, has lasted: the lopsided emphasis that people place on materialism and designer labels. Rigid judgments are formed about people based on the luxury items they do or do not have, discussions bordering on intellectual discourse are held on the merits of various brands at social and workplace events. Few people balk from asking delicate questions along the lines of "How much did you buy it for?" I have suffered hosting and attending gatherings where there has been no other topic of conversation whatsoever."
'via Blog this'
Saturday, June 13, 2015
The Cost of China’s Industrialization: 700 Million People with Diabesity /Cancer /Lung Disease and 225 Million with Mental Disorders
The Cost of China’s Industrialization: 700 Million People with Diabesity /Cancer /Lung Disease and 225 Million with Mental Disorders: "Every nation, developed and developing alike, has public health challenges. What’s different about China (and India) is the scale is just so enormous"
'via Blog this'
'via Blog this'
Chinese ATM skimmers held in Riyadh | Arab News
Chinese ATM skimmers held in Riyadh | Arab News: "RIYADH: Two Chinese nationals have been arrested for stealing SR220,000 from 62 people using sophisticated card readers and cameras installed at ATM machines in the city.
The two men, who were in the Kingdom on business visas, had installed the devices at ATMs in shopping malls, mostly in the north of Riyadh, a local publication reported recently. They are part of a larger gang operating overseas, the report said, quoting sources.
The police had launched an investigation after several people claimed that money had been withdrawn from their accounts outside the Kingdom, in China and other Asian countries.
During the investigation, police officers spotted two persons repeatedly using an ATM machine in the city. They were arrested as they tried to withdraw money. The card readers and cameras were found in their possession. The two confessed that they had withdrawn the money overseas. They had used a magnetic card reader which they attached over the ATM card insert slot.
This information was then transferred to their accomplices abroad, who copied the information on new cards and then withdrew the money. The duo had carried out 191 transactions, the report said."
'via Blog this'
The two men, who were in the Kingdom on business visas, had installed the devices at ATMs in shopping malls, mostly in the north of Riyadh, a local publication reported recently. They are part of a larger gang operating overseas, the report said, quoting sources.
The police had launched an investigation after several people claimed that money had been withdrawn from their accounts outside the Kingdom, in China and other Asian countries.
During the investigation, police officers spotted two persons repeatedly using an ATM machine in the city. They were arrested as they tried to withdraw money. The card readers and cameras were found in their possession. The two confessed that they had withdrawn the money overseas. They had used a magnetic card reader which they attached over the ATM card insert slot.
This information was then transferred to their accomplices abroad, who copied the information on new cards and then withdrew the money. The duo had carried out 191 transactions, the report said."
'via Blog this'
Taliban to the rescue: Iran reportedly arms Afghan militants against US, ISIS — RT News
Taliban to the rescue: Iran reportedly arms Afghan militants against US, ISIS — RT News: "Tehran is reportedly betting on the Taliban’s rise and is providing the militant movement with arms and training to secure leverage over it. Iran wants influence to counter the US and have fighters ready for a possible offensive by Islamic State.
According to a report in The Wall Street Journal, Iran has been providing the Taliban not only with money, but also hosted training camps in its territory since at least the fall of 2013. The US newspaper cites Western and Afghan officials and also a Taliban commander, who, the report says, was recruited by Iranian intelligence and is currently on Iran’s payroll.
“Iran is betting on the re-emergence of the Taliban,” a Western diplomat told WSJ. “They are uncertain about where Afghanistan is heading right now, so they are hedging their bets.”
Iran’s support of the Taliban is an alliance of convenience, according to the report. Iran is a Shiite country while the Taliban is Sunni, a difference that is difficult to bridge. In 2001, Tehran didn’t object to the ousting of the Taliban from power by a US-led invasion.
However, things have evolved, and with Taliban influence in Afghanistan growing, having a hand in it is becoming a useful asset. In 2013, the Iranians officially invited a Taliban delegation to an Islam conference.
WSJ interviewed Abdullah, a Taliban commander, who said he was an Afghan illegal immigrant in Iran, who was recruited by Iranian intelligence. He currently receives $580-a-month salary as well as necessary supplies from his sponsors, he said. Among the weapons he can order are 82mm mortars, light machine guns, rocket-propelled grenades and rifles, he added."
'via Blog this'
According to a report in The Wall Street Journal, Iran has been providing the Taliban not only with money, but also hosted training camps in its territory since at least the fall of 2013. The US newspaper cites Western and Afghan officials and also a Taliban commander, who, the report says, was recruited by Iranian intelligence and is currently on Iran’s payroll.
“Iran is betting on the re-emergence of the Taliban,” a Western diplomat told WSJ. “They are uncertain about where Afghanistan is heading right now, so they are hedging their bets.”
Iran’s support of the Taliban is an alliance of convenience, according to the report. Iran is a Shiite country while the Taliban is Sunni, a difference that is difficult to bridge. In 2001, Tehran didn’t object to the ousting of the Taliban from power by a US-led invasion.
However, things have evolved, and with Taliban influence in Afghanistan growing, having a hand in it is becoming a useful asset. In 2013, the Iranians officially invited a Taliban delegation to an Islam conference.
WSJ interviewed Abdullah, a Taliban commander, who said he was an Afghan illegal immigrant in Iran, who was recruited by Iranian intelligence. He currently receives $580-a-month salary as well as necessary supplies from his sponsors, he said. Among the weapons he can order are 82mm mortars, light machine guns, rocket-propelled grenades and rifles, he added."
'via Blog this'
Friday, June 12, 2015
A bleak future and population crisis for South Korea - The Globe and Mail
A bleak future and population crisis for South Korea - The Globe and Mail: "In 1980, there were 5.7 million students in elementary schools in South Korea. Today there are three million. That’s not population decline. That’s population collapse.
South Korea is about to get much, much smaller, posing huge challenges for its economy and aging population. All because one of the most tightly knit cultures in the world simply can’t tolerate the thought of letting in foreigners.
The country is of special interest to Canadians, these days. Between now and early next year, the Canadian and South Korean parliaments will be asked to ratify a comprehensive new free-trade agreement, the first between this country and an Asian nation.
The Canada-South Korea accord “signals we are ready for further ‘big deals’ in Asia and the tough decisions that accompany them,” said Len Edwards, former deputy minister of foreign affairs, who served as ambassador to South Korea in the 1990s. “It’s a sign of commitment.”
Dynamic, prosperous, hungry to get ahead, Korea has gone from being poor to being rich in the space of two generations, making it an ideal gateway to the Pacific for Canada. But South Korea has a problem.
With one of the lowest birth rates in the world, the republic is about to lose a large chunk of its population. According to Statistics Korea, the current population of 50 million will start to decline some time between 2020 and 2030; by 2060, it will have plummeted to somewhere between 34 million and 44 million.
By then, South Korea will be a country full of old people. Half of the population will be over 60, while only a fifth will be under 30. There will be few workers available to pay taxes to support health care for the elderly, or to buy the cars and houses and other goods that drive an economy.
“This is a very serious concern,” said In-jin Yoon, who studies immigration issues at Korea University in Seoul. “Parents are not having enough children to sustain the population, and we are not bringing in immigrants to replace the children who are not being born.”
Most developed countries have birth rates below the 2.1 babies-per-mother needed to sustain the population. But South Korea’s is among the very lowest, at 1.2. (Canada’s is 1.6). Partly, that’s because most parents pay for private education for their children, which strips the typical South Korean family of virtually all disposable income.
Although Japan confronts a similar challenge, most other developed countries look to immigration to supplement the native-born who are not being born. But Koreans are deeply proud of their shared culture and ethnicity and reluctant to let in foreigners.
“In a way it was almost easier 20 years ago,” says Jasmine Lee. Filipino-born, she met her Korean husband in 1994 and moved to South Korea. After a career in television, she was elected to the National Assembly in 2012 as its first naturalized citizen.
When she first arrived in South Korea, Ms. Lee recounts, she was so exotic that people treated her as an object of fascination. But with young South Korean women increasingly scarce, South Korean men, especially in rural areas, are seeking brides from abroad. South Koreans are also exposed to the thousands of temporary foreign workers who toil in jobs South Koreans are unwilling to do themselves.
Now, “when people see you they grip their bag more tightly,” Ms. Lee relates. The media report stories of domestic violence in mixed-race homes, bullying of mixed-race children and higher crime rates among foreign workers.
Many South Koreans believe the answer to the looming demographic disaster lies with North Korea. Sooner or later, goes the theory, the peninsula will unite, bringing 25 million new citizens to fill vacant jobs and to pay needed taxes."
'via Blog this'
South Korea is about to get much, much smaller, posing huge challenges for its economy and aging population. All because one of the most tightly knit cultures in the world simply can’t tolerate the thought of letting in foreigners.
The country is of special interest to Canadians, these days. Between now and early next year, the Canadian and South Korean parliaments will be asked to ratify a comprehensive new free-trade agreement, the first between this country and an Asian nation.
The Canada-South Korea accord “signals we are ready for further ‘big deals’ in Asia and the tough decisions that accompany them,” said Len Edwards, former deputy minister of foreign affairs, who served as ambassador to South Korea in the 1990s. “It’s a sign of commitment.”
Dynamic, prosperous, hungry to get ahead, Korea has gone from being poor to being rich in the space of two generations, making it an ideal gateway to the Pacific for Canada. But South Korea has a problem.
With one of the lowest birth rates in the world, the republic is about to lose a large chunk of its population. According to Statistics Korea, the current population of 50 million will start to decline some time between 2020 and 2030; by 2060, it will have plummeted to somewhere between 34 million and 44 million.
By then, South Korea will be a country full of old people. Half of the population will be over 60, while only a fifth will be under 30. There will be few workers available to pay taxes to support health care for the elderly, or to buy the cars and houses and other goods that drive an economy.
“This is a very serious concern,” said In-jin Yoon, who studies immigration issues at Korea University in Seoul. “Parents are not having enough children to sustain the population, and we are not bringing in immigrants to replace the children who are not being born.”
Most developed countries have birth rates below the 2.1 babies-per-mother needed to sustain the population. But South Korea’s is among the very lowest, at 1.2. (Canada’s is 1.6). Partly, that’s because most parents pay for private education for their children, which strips the typical South Korean family of virtually all disposable income.
Although Japan confronts a similar challenge, most other developed countries look to immigration to supplement the native-born who are not being born. But Koreans are deeply proud of their shared culture and ethnicity and reluctant to let in foreigners.
“In a way it was almost easier 20 years ago,” says Jasmine Lee. Filipino-born, she met her Korean husband in 1994 and moved to South Korea. After a career in television, she was elected to the National Assembly in 2012 as its first naturalized citizen.
When she first arrived in South Korea, Ms. Lee recounts, she was so exotic that people treated her as an object of fascination. But with young South Korean women increasingly scarce, South Korean men, especially in rural areas, are seeking brides from abroad. South Koreans are also exposed to the thousands of temporary foreign workers who toil in jobs South Koreans are unwilling to do themselves.
Now, “when people see you they grip their bag more tightly,” Ms. Lee relates. The media report stories of domestic violence in mixed-race homes, bullying of mixed-race children and higher crime rates among foreign workers.
Many South Koreans believe the answer to the looming demographic disaster lies with North Korea. Sooner or later, goes the theory, the peninsula will unite, bringing 25 million new citizens to fill vacant jobs and to pay needed taxes."
'via Blog this'
Divorce Rates High for Korea's Migrant Brides
Divorce Rates High for Korea's Migrant Brides: "Marrying someone from a different culture is very common. People do it all the time. And many international marriage brokers earn large profits by playing matchmaker for people. But what happens when the marriage business starts to resemble the selling of women? Some experts are examining the situation of migrant brides in South Korea.
Tens of thousands of South Korean men have married foreign women over the past 10 years. However, the government reports that many of those marriages end in divorce. And women’s rights experts are concerned about how these immigrant women are being treated. They are asking the Korean government to make rules for these marriages.
Lee Soo-yeon is a Vietnamese migrant bride. Six years ago, she left Vietnam to marry a South Korean man. Now 36-years old, she works as a translator at a center for immigrant women in Asan, a city 48 kilometers south of Seoul. She speaks Korean and uses a Korean name, but Ms. Lee is no longer with her Korean husband."
'via Blog this'
Tens of thousands of South Korean men have married foreign women over the past 10 years. However, the government reports that many of those marriages end in divorce. And women’s rights experts are concerned about how these immigrant women are being treated. They are asking the Korean government to make rules for these marriages.
Lee Soo-yeon is a Vietnamese migrant bride. Six years ago, she left Vietnam to marry a South Korean man. Now 36-years old, she works as a translator at a center for immigrant women in Asan, a city 48 kilometers south of Seoul. She speaks Korean and uses a Korean name, but Ms. Lee is no longer with her Korean husband."
'via Blog this'
Thursday, June 11, 2015
Chinese investors flood Bellevue, Seattle with big money
Chinese investors flood Bellevue, Seattle with big money: "SEATTLE -- The sun shines bright, and the waves crash at the boat cruising through Lake Washington. Dean Jones brings the motor to a halt, and coasts along the shoreline.
"That just entered the market at just over 10 million dollars," said Jones as he points and the boat sails along. "That one sold for about $8 million."
He's also blunt about who is buying.
"(It's) largely driven by overseas demand," said Jones, who owns the Realogics Sotheby branch in Kirkland.
It's why his firm has also started doing what he calls "Float-Pen Houses" for Chinese clients.
The residential real estate push comes as Chinese firms continue to buy up commercial properties around the region.
Recently, a Hong Kong firm entered into an agreement to buy Seattle's largest office tower: The Columbia Center.
In Bellevue, Plus Investment USA paid $30 million for the First Congressional Church property at NE 8th and 108th, and dropped another $45.9 million in February for the neighboring property at NE 8th, between 108th, and 110th. It plans to build two residential towers on the property.
Another Chinese firm paid $13.1 million in April for a spot between NE 10th and 102nd and 103rd. It intends to build three bedroom condos, for "multi generational and extended families," according to Bellevue City leaders.
Bellevue College is also building 350 units for $44 million, to accommodate the rising international population, especially from China.
What's driving this boom?
"The middle class (in China) standard of living is going high," said Martha Lee, of the Greater Seattle Chinese Chamber of Commerce. "It's a massive change that's going to take place," she says.
Lee also points to a 2013 romantic comedy "Beijing meets Seattle" for pushing Chinese nationals to visit and buy in the region.
"It grossed 85 million in China, really put Seattle on the map," she said.
Lee and the real estate agents also say Canada's tightened immigration laws have pushed Chinese investors to look elsewhere in the last year.
"Their immigration policies have changed so it's not so easy to immigrate to Vancouver anymore, but US immigration policy -- you've heard of EB-5 -- is still favorable to the Chinese," says Mei Yang, agent for Realogics Sotheby's.
She's part of the special "global" office within the Kirkland branch, which includes a tea room and other amenities to cater to clients from the Far East.
She also says the clean air has helped her sell clients.
"(My client) says, 'Mei, I feel drunk.' I say, 'What do you mean? Have you been drinking?' He says, 'Too much oxygen here.' So we don't realize it; we take it from granted," said Yang.
Agent Shensheng Wang was helping her client look at a Kirkland waterfront home on Wednesday, also said the exchange rate is a factor.
"(You) compare with China market. Here is $4 million. There it could can only buy condo, not mansion house," she said.
Jones says he'll likely continue these "float-pen" houses for the foreseeable future.
"Waterfront is largely unattainable in China," he said. And here "it's actually affordable, compared to other west coast markets.""
'via Blog this'
"That just entered the market at just over 10 million dollars," said Jones as he points and the boat sails along. "That one sold for about $8 million."
He's also blunt about who is buying.
"(It's) largely driven by overseas demand," said Jones, who owns the Realogics Sotheby branch in Kirkland.
It's why his firm has also started doing what he calls "Float-Pen Houses" for Chinese clients.
The residential real estate push comes as Chinese firms continue to buy up commercial properties around the region.
Recently, a Hong Kong firm entered into an agreement to buy Seattle's largest office tower: The Columbia Center.
In Bellevue, Plus Investment USA paid $30 million for the First Congressional Church property at NE 8th and 108th, and dropped another $45.9 million in February for the neighboring property at NE 8th, between 108th, and 110th. It plans to build two residential towers on the property.
Another Chinese firm paid $13.1 million in April for a spot between NE 10th and 102nd and 103rd. It intends to build three bedroom condos, for "multi generational and extended families," according to Bellevue City leaders.
Bellevue College is also building 350 units for $44 million, to accommodate the rising international population, especially from China.
What's driving this boom?
"The middle class (in China) standard of living is going high," said Martha Lee, of the Greater Seattle Chinese Chamber of Commerce. "It's a massive change that's going to take place," she says.
Lee also points to a 2013 romantic comedy "Beijing meets Seattle" for pushing Chinese nationals to visit and buy in the region.
"It grossed 85 million in China, really put Seattle on the map," she said.
Lee and the real estate agents also say Canada's tightened immigration laws have pushed Chinese investors to look elsewhere in the last year.
"Their immigration policies have changed so it's not so easy to immigrate to Vancouver anymore, but US immigration policy -- you've heard of EB-5 -- is still favorable to the Chinese," says Mei Yang, agent for Realogics Sotheby's.
She's part of the special "global" office within the Kirkland branch, which includes a tea room and other amenities to cater to clients from the Far East.
She also says the clean air has helped her sell clients.
"(My client) says, 'Mei, I feel drunk.' I say, 'What do you mean? Have you been drinking?' He says, 'Too much oxygen here.' So we don't realize it; we take it from granted," said Yang.
Agent Shensheng Wang was helping her client look at a Kirkland waterfront home on Wednesday, also said the exchange rate is a factor.
"(You) compare with China market. Here is $4 million. There it could can only buy condo, not mansion house," she said.
Jones says he'll likely continue these "float-pen" houses for the foreseeable future.
"Waterfront is largely unattainable in China," he said. And here "it's actually affordable, compared to other west coast markets.""
'via Blog this'
The national lust for home equity lines of credit: should we worry? - Yahoo Finance Canada
The national lust for home equity lines of credit: should we worry? - Yahoo Finance Canada: "Murad Ali and Arsheen Haji live large thanks to easy access to their home equity lines of credit, joining the many Canadians succumbing to the same temptation.
For the Toronto-area couple, it all started back in 2009 with a lavish $78,000 wedding.
Then came numerous overseas vacations. When touring Egypt, Ali bought four souvenir papyrus scrolls for $6,000. In Italy, Haji picked up a $7,000 Chanel bag.
After the birth of their daughter, the couple moved into a newly built home and spent more than $100,000 on upgrades, including a custom kitchen, hardwood floors and a high-tech fireplace.
The wedding, trips and high-end purchases were made possible with cash from two home equity lines of credit secured against a couple of investment condos the family owns. The debt from those loans now totals $370,000. They also recently got an unsecured $30,000 line of credit to buy solar panels for their new house.
Line of credit addiction
"We are addicted for sure. Who wouldn't be addicted to something so easy [to get]?" says 35-year-old Ali about the free-flowing lines of credit that have enabled him to splurge on the finer things in life.
"It's easy, accessible cash at a very cheap price. The banks make it so easy for you to obtain it," says the software engineer."
'via Blog this'
For the Toronto-area couple, it all started back in 2009 with a lavish $78,000 wedding.
Then came numerous overseas vacations. When touring Egypt, Ali bought four souvenir papyrus scrolls for $6,000. In Italy, Haji picked up a $7,000 Chanel bag.
After the birth of their daughter, the couple moved into a newly built home and spent more than $100,000 on upgrades, including a custom kitchen, hardwood floors and a high-tech fireplace.
The wedding, trips and high-end purchases were made possible with cash from two home equity lines of credit secured against a couple of investment condos the family owns. The debt from those loans now totals $370,000. They also recently got an unsecured $30,000 line of credit to buy solar panels for their new house.
Line of credit addiction
"We are addicted for sure. Who wouldn't be addicted to something so easy [to get]?" says 35-year-old Ali about the free-flowing lines of credit that have enabled him to splurge on the finer things in life.
"It's easy, accessible cash at a very cheap price. The banks make it so easy for you to obtain it," says the software engineer."
'via Blog this'
U.S. household net worth increases to $84.9 trillion - Yahoo Finance
U.S. household net worth increases to $84.9 trillion - Yahoo Finance: "The value of Americans' homes increased by $411 billion, while the financial holdings of households and nonprofits rose by $1.1 trillion during the first quarter, boosted by higher holdings of stocks and mutual fund shares."
'via Blog this'
'via Blog this'
Stalled stock market unnerves small investors - and that's good - Yahoo Finance
Stalled stock market unnerves small investors - and that's good - Yahoo Finance: "The little guy has lost patience with this do-nothing market.
The fresh weekly survey by the American Association of Individual Investors showed those who are bullish on stocks sank to a mere 20% of all respondents, down more than 7% in a week and far below the long-term average near 39%.
For some perspective, at the end of 2014, with U.S. stock indexes slightly lower than they are now, more than 50% said they were bullish. The bearish contingent this week was above 38%, the highest tally since the middle of the nasty 9% October market drop.
What’s striking is that such low optimism among retail investors comes as the major stock indexes are up a touch for the year and have hovered near all-time highs for months now. This overlay of skepticism, using contrarian logic, is a net positive for the market outlook.
The S&P 500 Wednesday jumped above the 2100 mark in a bounce of a bit more than 1%. That was the 17th time the index has crossed that 2100 level just since late April. It closed on Dec. 30 at 2090, so we’ve been running in deep sand but without collapsing yet.
What appears to be going on is a tiresome, low-energy trading range has exhausted investors, giving them time to wonder and worry over what could go wrong rather than what’s working."
'via Blog this'
The fresh weekly survey by the American Association of Individual Investors showed those who are bullish on stocks sank to a mere 20% of all respondents, down more than 7% in a week and far below the long-term average near 39%.
For some perspective, at the end of 2014, with U.S. stock indexes slightly lower than they are now, more than 50% said they were bullish. The bearish contingent this week was above 38%, the highest tally since the middle of the nasty 9% October market drop.
What’s striking is that such low optimism among retail investors comes as the major stock indexes are up a touch for the year and have hovered near all-time highs for months now. This overlay of skepticism, using contrarian logic, is a net positive for the market outlook.
The S&P 500 Wednesday jumped above the 2100 mark in a bounce of a bit more than 1%. That was the 17th time the index has crossed that 2100 level just since late April. It closed on Dec. 30 at 2090, so we’ve been running in deep sand but without collapsing yet.
What appears to be going on is a tiresome, low-energy trading range has exhausted investors, giving them time to wonder and worry over what could go wrong rather than what’s working."
'via Blog this'
Wednesday, June 10, 2015
Tuesday, June 9, 2015
The $6.5 Trillion China Rally That's Making Stock-Market History - Yahoo Finance
The $6.5 Trillion China Rally That's Making Stock-Market History - Yahoo Finance: "The figure, $6.5 trillion, sums up the value created in just 12 months of trading on Chinese stock exchanges -- and why some see a rally that’s gone too far.
As China’s boom surpasses the headiest days of the U.S. Internet bubble, signs of excess are cropping up everywhere. Mainland speculators have borrowed a record $348 billion to bet on further gains, novice investors are piling into shares at an unprecedented pace and price-to-earnings ratios have climbed to the highest levels in five years. The economy, meanwhile, is mired in its weakest expansion since 1990.
“We have a wonderful bubble on our hands,” said Michael Every, the head of financial markets research at Rabobank International in Hong Kong. “Of course, there’s short-term money to be made. But I fear it will not end well.”
More from Bloomberg.com: These Are the 13 Cities Where Millennials Can't Afford a Home
Chinese shares face their next big test on Tuesday, when MSCI Inc. decides whether mainland securities are eligible for indexes used by $9.5 trillion of funds worldwide.
An endorsement would signal global acceptance for equities that had until recently been off limits to most overseas money managers. Rejection would deal a blow to bulls who pushed the Shanghai Composite Index to a seven-year high on Monday.
While no other stock market has grown this much in dollar terms over a 12-month period, previous booms have arguably had a greater impact when adjusted for purchasing power and the size of economic output at the time.
More from Bloomberg.com: If You Think Greece's Crisis Will End Soon, Think Again
1929 Crash
At the height of Japan’s rally in 1989, for example, the nation’s market capitalization reached 145 percent of gross domestic product, versus an estimated 87 percent in China today, according to data from the World Bank and International Monetary Fund. The Dow Jones Industrial Average climbed for five straight years in the run-up to the crash of 1929, adding more than 200 percent.
On top of price appreciation, China’s $9.7 trillion market is getting a boost from a wave of new share sales. Mainland companies have raised at least $56 billion this year, according to data compiled by Bloomberg.
More from Bloomberg.com: G-7 Unites to Push Greece on Resolving Creditor Standoff
Optimists are betting that China’s Communist Party will keep the rally going to help more businesses tap the stock market for fresh capital. Debt levels for Shanghai Composite companies reached the highest since at least 2005 in January.
Earnings Slump
People’s Bank of China Governor Zhou Xiaochuan, who cut interest rates three times since November, has voiced his support for equity investment as a way to bolster the economy. The Shanghai-Hong Kong exchange link, started at the end of last year, gives global money managers unprecedented access to mainland shares.
“If the government endorses a rally, it will go up,” said Nicholas Yeo, the Hong Kong-based head of Chinese equities at Aberdeen Asset Management, which oversees about $491 billion worldwide.
Of course, a flood of share sales runs the risk of overwhelming demand, especially now that valuations have climbed to the highest levels since 2009. At 19 times projected earnings, the Shanghai Composite is 62 percent more expensive than the MSCI Emerging Markets Index.
Profits in the Chinese gauge trailed analyst estimates by the most in six years in 2014 as the nation’s economic growth slumped to 7.4 percent, the slowest pace in more than two decades.
Margin Debt
In the latest signs of weakness, data on Monday showed a 18.1 percent plunge in imports for May and a third straight month of falling overseas shipments. The Shanghai Composite slipped 0.4 percent on Tuesday as factory-gate deflation extended a record stretch of declines.
So far, none of that has stopped mainland investors from pouring money into stocks.
They opened a record 4.4 million new trading accounts in the final week of May, while margin debt on the Shanghai exchange climbed to a record on June 8.
For Rabobank’s Every, it’s only a matter of time before the market falls back down to earth.
“Too many people are making too much money, too fast,” he said. “It’s greed, fear of missing out, and willingness to suspend belief.”"
'via Blog this'
As China’s boom surpasses the headiest days of the U.S. Internet bubble, signs of excess are cropping up everywhere. Mainland speculators have borrowed a record $348 billion to bet on further gains, novice investors are piling into shares at an unprecedented pace and price-to-earnings ratios have climbed to the highest levels in five years. The economy, meanwhile, is mired in its weakest expansion since 1990.
“We have a wonderful bubble on our hands,” said Michael Every, the head of financial markets research at Rabobank International in Hong Kong. “Of course, there’s short-term money to be made. But I fear it will not end well.”
More from Bloomberg.com: These Are the 13 Cities Where Millennials Can't Afford a Home
Chinese shares face their next big test on Tuesday, when MSCI Inc. decides whether mainland securities are eligible for indexes used by $9.5 trillion of funds worldwide.
An endorsement would signal global acceptance for equities that had until recently been off limits to most overseas money managers. Rejection would deal a blow to bulls who pushed the Shanghai Composite Index to a seven-year high on Monday.
While no other stock market has grown this much in dollar terms over a 12-month period, previous booms have arguably had a greater impact when adjusted for purchasing power and the size of economic output at the time.
More from Bloomberg.com: If You Think Greece's Crisis Will End Soon, Think Again
1929 Crash
At the height of Japan’s rally in 1989, for example, the nation’s market capitalization reached 145 percent of gross domestic product, versus an estimated 87 percent in China today, according to data from the World Bank and International Monetary Fund. The Dow Jones Industrial Average climbed for five straight years in the run-up to the crash of 1929, adding more than 200 percent.
On top of price appreciation, China’s $9.7 trillion market is getting a boost from a wave of new share sales. Mainland companies have raised at least $56 billion this year, according to data compiled by Bloomberg.
More from Bloomberg.com: G-7 Unites to Push Greece on Resolving Creditor Standoff
Optimists are betting that China’s Communist Party will keep the rally going to help more businesses tap the stock market for fresh capital. Debt levels for Shanghai Composite companies reached the highest since at least 2005 in January.
Earnings Slump
People’s Bank of China Governor Zhou Xiaochuan, who cut interest rates three times since November, has voiced his support for equity investment as a way to bolster the economy. The Shanghai-Hong Kong exchange link, started at the end of last year, gives global money managers unprecedented access to mainland shares.
“If the government endorses a rally, it will go up,” said Nicholas Yeo, the Hong Kong-based head of Chinese equities at Aberdeen Asset Management, which oversees about $491 billion worldwide.
Of course, a flood of share sales runs the risk of overwhelming demand, especially now that valuations have climbed to the highest levels since 2009. At 19 times projected earnings, the Shanghai Composite is 62 percent more expensive than the MSCI Emerging Markets Index.
Profits in the Chinese gauge trailed analyst estimates by the most in six years in 2014 as the nation’s economic growth slumped to 7.4 percent, the slowest pace in more than two decades.
Margin Debt
In the latest signs of weakness, data on Monday showed a 18.1 percent plunge in imports for May and a third straight month of falling overseas shipments. The Shanghai Composite slipped 0.4 percent on Tuesday as factory-gate deflation extended a record stretch of declines.
So far, none of that has stopped mainland investors from pouring money into stocks.
They opened a record 4.4 million new trading accounts in the final week of May, while margin debt on the Shanghai exchange climbed to a record on June 8.
For Rabobank’s Every, it’s only a matter of time before the market falls back down to earth.
“Too many people are making too much money, too fast,” he said. “It’s greed, fear of missing out, and willingness to suspend belief.”"
'via Blog this'
In Suburban Seattle, New Nests for China’s Rich - NYTimes.com
In Suburban Seattle, New Nests for China’s Rich - NYTimes.com: "As wealthy Chinese stash more of their fortunes overseas, they’re bidding up the value of everything from Bitcoins and Burgundy to Picassos and pink diamonds.
And, increasingly, China’s rich are also offshoring their families along with their cash. That’s created a real estate boom in an unlikely corner of the United States: suburban Seattle.
Wealthy Chinese have become far and away the biggest foreign buyers of real estate in Seattle in recent years, accounting for up to one-third of $1-million-plus homes sold in certain areas, brokers say. Seattle real estate agents are hiring Mandarin speakers and even opening offices in Beijing. Builders are designing much of their new construction for Chinese buyers.
Seattle real estate agents have even added a new term of art to their deal language: “the feng shui contingency.” Before closing on a house, many Chinese buyers are asking to have a feng shui master or consultant approve the house as part of a general inspection. Bad feng shui means no deal. Or, sometimes, some last-minute landscaping.
“We had a case where a tree was blocking the chi, or energy flow, of the home,” said May Wan, an agent at Berkshire Hathaway Home Services in Bellevue who works with many Chinese buyers. “So it had to be taken out. They planted another one nearby.”
The business of relocating China’s uprooted rich is likely to grow in the coming years. A quarter of all real estate sold to foreigners in the United States last year went to Chinese buyers. Now the largest group of foreign buyers in the United States, the Chinese spent $22 billion on American real estate in the 12 months ended in March, according to the National Association of Realtors. That’s up 72 percent from the year-earlier period.
They lean toward luxury: The median purchase for Chinese buyers is $523,148 — nearly twice the national average. Three-quarters of their purchases are all cash.
That’s made Seattle one of the world’s top catch basins for the billions of dollars spilling out of China every year. While foreign money has also been pouring into New York, Los Angeles and London real estate, the impact of the Chinese rich on Seattle is far more concentrated, focused on a few small, upscale suburbs. They’re especially attracted to Medina — home to Bill Gates and Jeff Bezos — and the West Bellevue area. “The first question you often hear from Chinese clients is ‘Where does Bill Gates live?’ “ said Moya Skillman, a broker with Windermere Real Estate.
Brokers and analysts say 20 to 40 percent of $1 million-plus homes sold on the Eastside — a collective term for eastern suburbs of Seattle — were purchased by Chinese buyers.
A $1.1 million listing in West Bellevue recently attracted 24 bidders, virtually all of them Chinese, and the home quickly sold for $1.4 million. Ms. Wan said a $2.5 million lakefront property recently sold with three offers, just days after coming onto the market. The median sales price in Bellevue is up 82 percent since 2011, to $1.37 million, according to sales data."
'via Blog this'
And, increasingly, China’s rich are also offshoring their families along with their cash. That’s created a real estate boom in an unlikely corner of the United States: suburban Seattle.
Wealthy Chinese have become far and away the biggest foreign buyers of real estate in Seattle in recent years, accounting for up to one-third of $1-million-plus homes sold in certain areas, brokers say. Seattle real estate agents are hiring Mandarin speakers and even opening offices in Beijing. Builders are designing much of their new construction for Chinese buyers.
Seattle real estate agents have even added a new term of art to their deal language: “the feng shui contingency.” Before closing on a house, many Chinese buyers are asking to have a feng shui master or consultant approve the house as part of a general inspection. Bad feng shui means no deal. Or, sometimes, some last-minute landscaping.
“We had a case where a tree was blocking the chi, or energy flow, of the home,” said May Wan, an agent at Berkshire Hathaway Home Services in Bellevue who works with many Chinese buyers. “So it had to be taken out. They planted another one nearby.”
The business of relocating China’s uprooted rich is likely to grow in the coming years. A quarter of all real estate sold to foreigners in the United States last year went to Chinese buyers. Now the largest group of foreign buyers in the United States, the Chinese spent $22 billion on American real estate in the 12 months ended in March, according to the National Association of Realtors. That’s up 72 percent from the year-earlier period.
They lean toward luxury: The median purchase for Chinese buyers is $523,148 — nearly twice the national average. Three-quarters of their purchases are all cash.
That’s made Seattle one of the world’s top catch basins for the billions of dollars spilling out of China every year. While foreign money has also been pouring into New York, Los Angeles and London real estate, the impact of the Chinese rich on Seattle is far more concentrated, focused on a few small, upscale suburbs. They’re especially attracted to Medina — home to Bill Gates and Jeff Bezos — and the West Bellevue area. “The first question you often hear from Chinese clients is ‘Where does Bill Gates live?’ “ said Moya Skillman, a broker with Windermere Real Estate.
Brokers and analysts say 20 to 40 percent of $1 million-plus homes sold on the Eastside — a collective term for eastern suburbs of Seattle — were purchased by Chinese buyers.
A $1.1 million listing in West Bellevue recently attracted 24 bidders, virtually all of them Chinese, and the home quickly sold for $1.4 million. Ms. Wan said a $2.5 million lakefront property recently sold with three offers, just days after coming onto the market. The median sales price in Bellevue is up 82 percent since 2011, to $1.37 million, according to sales data."
'via Blog this'
Monday, June 8, 2015
China ship capsize: death toll climbs to 434 - The Times of India
China ship capsize: death toll climbs to 434 - The Times of India: "BEIJING: The death toll in the ship capsize in Yangtze river, China's worst shipping disaster in 70 years, rose to 434 after two more bodies were found on Monday.
The bodies of two victims were recovered from the river this morning with just eight of the 456 people on board the ill-fated vessel unaccounted for now, according to the rescue headquarters in Jianli, where the ship sank.
The death toll in the tragedy had risen to 431 last evening and one body was recovered in the night.
14 people have been found alive so far. The Eastern Star cruise ship, carrying 456 people, was on an 11-day trip when it was overturned by a tornado in Asia's longest Yangtze River last Monday. "
'via Blog this'
The bodies of two victims were recovered from the river this morning with just eight of the 456 people on board the ill-fated vessel unaccounted for now, according to the rescue headquarters in Jianli, where the ship sank.
The death toll in the tragedy had risen to 431 last evening and one body was recovered in the night.
14 people have been found alive so far. The Eastern Star cruise ship, carrying 456 people, was on an 11-day trip when it was overturned by a tornado in Asia's longest Yangtze River last Monday. "
'via Blog this'
China, 60 Billion Might Only Be the Beginning
China, 60 Billion Might Only Be the Beginning: "According to the Financial Times last month, the Chinese opened more than 4.8 million new stock trading accounts in March and a million more in the first two days of April.
By the end of the first quarter, the figure was up 433% from the previous year. Most of them are believed to be first time investors. Margin lending — borrowing money to buy shares — has doubled in six months.
Gold jewellery demand has fallen 10%, according to the World Gold Council. The FT says,
‘Middle-aged women, the so-called Dama, or “aunties”, who were among the most prolific buyers of gold in 2013, rushed to open stock accounts instead, said the industry body. “This shift has eaten into demand for gold, which has lacked clear price direction in recent quarters,” it added.’
The boom is on. If you had bought, just for example, the Deutsche X-trackers Harvest China A-Shares Fund [NYSE: ASHR] in October 2014, you would now be up 90% in six months.
That’s the kind of money, and — arguably — speculative mentality, that could come into Australia. Real estate wise, Chinese buyers in Sydney and Melbourne already account for 23% and 20% of new housing supply, according to a Credit Suisse report released earlier this month.
They think the Chinese could pump $60 billion into Australian housing over the next six years. That’s double the previous six.
The potential capital gains are lucrative enough to offset the extra charges on foreign buyers. The Australian Financial Review reported on Friday that since May 2012, Sydney house prices have risen 38%. For Melbourne over the last three years, the figure is 23%."
'via Blog this'
By the end of the first quarter, the figure was up 433% from the previous year. Most of them are believed to be first time investors. Margin lending — borrowing money to buy shares — has doubled in six months.
Gold jewellery demand has fallen 10%, according to the World Gold Council. The FT says,
‘Middle-aged women, the so-called Dama, or “aunties”, who were among the most prolific buyers of gold in 2013, rushed to open stock accounts instead, said the industry body. “This shift has eaten into demand for gold, which has lacked clear price direction in recent quarters,” it added.’
The boom is on. If you had bought, just for example, the Deutsche X-trackers Harvest China A-Shares Fund [NYSE: ASHR] in October 2014, you would now be up 90% in six months.
That’s the kind of money, and — arguably — speculative mentality, that could come into Australia. Real estate wise, Chinese buyers in Sydney and Melbourne already account for 23% and 20% of new housing supply, according to a Credit Suisse report released earlier this month.
They think the Chinese could pump $60 billion into Australian housing over the next six years. That’s double the previous six.
The potential capital gains are lucrative enough to offset the extra charges on foreign buyers. The Australian Financial Review reported on Friday that since May 2012, Sydney house prices have risen 38%. For Melbourne over the last three years, the figure is 23%."
'via Blog this'
Debt stress affects health, fuels depression - Health - CBC News
Debt stress affects health, fuels depression - Health - CBC News: "Canadians coping with the financial stress of heavy debt are increasingly talking about suicide, a psychologist says, as they struggle with sleepless nights and high blood pressure.
Dr. Donna Ferguson is a psychologist at the Centre for Addiction and Mental Health in Toronto. Over her 12 years there, Ferguson has encountered more people aged 40 to 64 who are overwhelmed with the financial stress of being on disability, a single parent or heavily in debt.
"I think it's really knowing and hearing about how people are now more depressed and more anxious about it, that suicide is a thought," Ferguson said. "Now, it's becoming more noticeable."
Researchers have also documented the health effects of indebtedness. A review by Finnish researchers last year of 33-peer reviewed studies concluded "indebtedness has serious effects on health."
"Individuals with unmet loan payments had suicidal ideation and suffered from depression more often than those without such financial problems."
Researchers from Montreal and Chicago also published a study reporting that high financial debt relative to available assets is associated with higher perceived stress and depression, worse self-reported general health and higher diastolic blood pressure among young adults across the U.S.
Tears and sleepless nights
Tanya Zerr, 38, of Airdrie, Alta., recalls the sense of hopelessness when she and her husband, Marty Zerr, faced $15,000 in credit card debt after he lost his job as a labourer in the oil and gas industry in 2008.
"I would cry," Zerr said. "The thing is, it is not something you really talk about. I couldn't call my friends and say, 'Oh my goodness, I am so worried about this'.… You keep a lot of that in."
"It was sleepless nights, a nervous feeling all the time because you're just worried, Am I going to get that letter, that eviction letter saying we're going to cancel your mortgage? It's kind of living in fear, because you just don't know what is going to be taken away from you."
Zerr said stress caused her to eat more and put on weight, while her husband wouldn't eat and lost weight.
At Consolidated Credit Counselling Services of Canada, Jeff Schwartz helps a wide range of people in Toronto, including professionals and those who receive government supports. Many say they're stressed and feel at the end of their rope.
"It's almost like it's a black cloud following them around, and they are not themselves so they can't function properly as they would. There is a lot of sleeplessness, there is lethargy, there is hopelessness that manifests itself within their job, within how they function in their daily lives," Schwartz said.
"At the end, it's almost as if there's been some relief and that cloud is no longer there."
It took Zerr four years to clear her credit card debt through the credit counselling service. For three years, her husband earned five dollars less an hour in a cooking job, then returned to the oil and gas industry, only to be laid off again in January. She's relieved the monthly bills are no longer so high.
Zerr has torn up the Visa, Brick and Bay cards in favour of prepaid credit cards when needed."
'via Blog this'
Dr. Donna Ferguson is a psychologist at the Centre for Addiction and Mental Health in Toronto. Over her 12 years there, Ferguson has encountered more people aged 40 to 64 who are overwhelmed with the financial stress of being on disability, a single parent or heavily in debt.
"I think it's really knowing and hearing about how people are now more depressed and more anxious about it, that suicide is a thought," Ferguson said. "Now, it's becoming more noticeable."
Researchers have also documented the health effects of indebtedness. A review by Finnish researchers last year of 33-peer reviewed studies concluded "indebtedness has serious effects on health."
"Individuals with unmet loan payments had suicidal ideation and suffered from depression more often than those without such financial problems."
Researchers from Montreal and Chicago also published a study reporting that high financial debt relative to available assets is associated with higher perceived stress and depression, worse self-reported general health and higher diastolic blood pressure among young adults across the U.S.
Tears and sleepless nights
Tanya Zerr, 38, of Airdrie, Alta., recalls the sense of hopelessness when she and her husband, Marty Zerr, faced $15,000 in credit card debt after he lost his job as a labourer in the oil and gas industry in 2008.
"I would cry," Zerr said. "The thing is, it is not something you really talk about. I couldn't call my friends and say, 'Oh my goodness, I am so worried about this'.… You keep a lot of that in."
"It was sleepless nights, a nervous feeling all the time because you're just worried, Am I going to get that letter, that eviction letter saying we're going to cancel your mortgage? It's kind of living in fear, because you just don't know what is going to be taken away from you."
Zerr said stress caused her to eat more and put on weight, while her husband wouldn't eat and lost weight.
At Consolidated Credit Counselling Services of Canada, Jeff Schwartz helps a wide range of people in Toronto, including professionals and those who receive government supports. Many say they're stressed and feel at the end of their rope.
"It's almost like it's a black cloud following them around, and they are not themselves so they can't function properly as they would. There is a lot of sleeplessness, there is lethargy, there is hopelessness that manifests itself within their job, within how they function in their daily lives," Schwartz said.
"At the end, it's almost as if there's been some relief and that cloud is no longer there."
It took Zerr four years to clear her credit card debt through the credit counselling service. For three years, her husband earned five dollars less an hour in a cooking job, then returned to the oil and gas industry, only to be laid off again in January. She's relieved the monthly bills are no longer so high.
Zerr has torn up the Visa, Brick and Bay cards in favour of prepaid credit cards when needed."
'via Blog this'
Portland to the Coast - Highway 6/Tillamook - Ride Oregon Ride
Portland to the Coast - Highway 6/Tillamook - Ride Oregon Ride: "This route offers a way to get from Portland to a little further south down the coast than Astoria. It follows one of the main highways to the coast, so traffic can be heavy, particularly on weekends.
There are two significant climbs on this route – out of Banks there’s a shorter climb, and the major one is to the summit of the Coast Range past Gales Creek – a gain of over 1,000 feet in around five miles. But from there it’s mostly all downhill into Tillamook.
This is quite a long haul for one day. If the mileage seems too high, consider starting from Banks, which should cut it to about 50 miles.
Tillamook is inland from the ocean, in dairy country. The famous cheese factory is here, along with an interesting air museum. If you want to extend your trip or connect to the Oregon Coast Route, try the Three Capes Scenic Loop, accessed from downtown Tillamook.
Motorized Vehicle Traffic: Moderate to heavy
Seasons: All, unless winter conditions are unusually harsh"
'via Blog this'
There are two significant climbs on this route – out of Banks there’s a shorter climb, and the major one is to the summit of the Coast Range past Gales Creek – a gain of over 1,000 feet in around five miles. But from there it’s mostly all downhill into Tillamook.
This is quite a long haul for one day. If the mileage seems too high, consider starting from Banks, which should cut it to about 50 miles.
Tillamook is inland from the ocean, in dairy country. The famous cheese factory is here, along with an interesting air museum. If you want to extend your trip or connect to the Oregon Coast Route, try the Three Capes Scenic Loop, accessed from downtown Tillamook.
Motorized Vehicle Traffic: Moderate to heavy
Seasons: All, unless winter conditions are unusually harsh"
'via Blog this'
Southern Oregon Coast (Florence to Brookings) - Ride Oregon Ride
Southern Oregon Coast (Florence to Brookings) - Ride Oregon Ride: "The northern Oregon coast is easily accessible to the majority of the state’s population in Portland and the Willamette Valley. Here’s a chance to ride the coast in relative isolation (at least compared to the throngs up north) for three days of moderate mileage and unparalleled scenery. You can easily find bike-camping spots, or go the credit-card-camping route.
Start in Florence and head south past the Oregon Dunes National Recreation Area toward Reedsport. There’s a hearty climb of about 400 feet before you roll down through Gardiner and into Reedsport. Just south of town you’ll pass by Winchester Bay, then the Umpqua Lighthouse and more monstrous dunes before rolling into the North Bend/Coos Bay area. Luckily, the route directs you off Highway 101 here, onto the Cape Arago Highway. If you’re camping, ride out to Bastendorf County Park or Sunset Bay State Park, which both offer designated bike campsites. If you’re lodging, try something in North Bend but that’ll make today shorter and tomorrow longer. Mileage: approx. 55 to Cape Arago.
On day two, you’ll head out on Seven Devils and Beaver Hill roads for some early-morning work. The route goes up more than 500 feet, followed by a series of sharp rollers before dropping back down to Highway 101 just north of Bandon.
Near Bandon you’ll be routed off 101 again for a stretch of rocky coastline near Face Rock. After reconnecting with 101 for some peaceful pastureland stretches, choose either camping at Cape Blanco State Park or lodging in charming Port Orford. Mileage: approx. 50.
On the final day, get ready for some stunning scenery. After a series of rollers between Port Orford and Gold Beach, you’ll scale mighty Cape Sebastian — the highest point on the Oregon Coast. It’s hard work, but the descent down the other side to the Pistol River is positively scintillating, as you can see long stretches of rocky headlands punctuated by golden beaches. There’s more up-and-down before dropping down onto Harris Beach, a jewel of the southern coast and a great camping spot, or roll on into Brookings, which offers plenty of lodging and other amenities.
Mileage: approx. 55.
Motorized Vehicle Traffic: Moderate to Heavy
Seasons: All"
'via Blog this'
Start in Florence and head south past the Oregon Dunes National Recreation Area toward Reedsport. There’s a hearty climb of about 400 feet before you roll down through Gardiner and into Reedsport. Just south of town you’ll pass by Winchester Bay, then the Umpqua Lighthouse and more monstrous dunes before rolling into the North Bend/Coos Bay area. Luckily, the route directs you off Highway 101 here, onto the Cape Arago Highway. If you’re camping, ride out to Bastendorf County Park or Sunset Bay State Park, which both offer designated bike campsites. If you’re lodging, try something in North Bend but that’ll make today shorter and tomorrow longer. Mileage: approx. 55 to Cape Arago.
On day two, you’ll head out on Seven Devils and Beaver Hill roads for some early-morning work. The route goes up more than 500 feet, followed by a series of sharp rollers before dropping back down to Highway 101 just north of Bandon.
Near Bandon you’ll be routed off 101 again for a stretch of rocky coastline near Face Rock. After reconnecting with 101 for some peaceful pastureland stretches, choose either camping at Cape Blanco State Park or lodging in charming Port Orford. Mileage: approx. 50.
On the final day, get ready for some stunning scenery. After a series of rollers between Port Orford and Gold Beach, you’ll scale mighty Cape Sebastian — the highest point on the Oregon Coast. It’s hard work, but the descent down the other side to the Pistol River is positively scintillating, as you can see long stretches of rocky headlands punctuated by golden beaches. There’s more up-and-down before dropping down onto Harris Beach, a jewel of the southern coast and a great camping spot, or roll on into Brookings, which offers plenty of lodging and other amenities.
Mileage: approx. 55.
Motorized Vehicle Traffic: Moderate to Heavy
Seasons: All"
'via Blog this'
Opium - Wikipedia, the free encyclopedia
Opium - Wikipedia, the free encyclopedia: "The earliest clear description of the use of opium as a recreational drug in China came from Xu Boling, who wrote in 1483 that opium was "mainly used to aid masculinity, strengthen sperm and regain vigor", and that it "enhances the art of alchemists, sex and court ladies". He also described an expedition sent by the Ming dynasty Chenghua Emperor in 1483 to procure opium for a price "equal to that of gold" in Hainan, Fujian, Zhejiang, Sichuan and Shaanxi, where it is close to the western lands of Xiyu. A century later, Li Shizhen listed standard medical uses of opium in his renowned Compendium of Materia Medica (1578), but also wrote that "lay people use it for the art of sex", in particular the ability to "arrest seminal emission". This association of opium with sex continued in China until the end of the 19th century.
Opium smoking began as a privilege of the elite and remained a great luxury into the early 19th century. However, by 1861, Wang Tao wrote that opium was used even by rich peasants, and even a small village without a rice store would have a shop where opium was sold.[42]"
'via Blog this'
Opium smoking began as a privilege of the elite and remained a great luxury into the early 19th century. However, by 1861, Wang Tao wrote that opium was used even by rich peasants, and even a small village without a rice store would have a shop where opium was sold.[42]"
'via Blog this'
Sunday, June 7, 2015
The plight of the asset-less 40-somethings who cannot get on the housing ladder - Telegraph
The plight of the asset-less 40-somethings who cannot get on the housing ladder - Telegraph: "According to Lucian Cook, the head of residential research at Savills, more people aged between 35 and 64 years old, either through choice or necessity, are now renting.
“We’re seeing the lack of accessibility to homeownership that was confined to the under-35s move up into the next age group,” said Mr Cook.
“With a finite amount of social housing stock concentrated in older households, a lack of access to owner occupation is not just affecting the under-35s but beginning to feed up into the 35 to 49 age group. With an ageing population, this creates significant long-term issues in terms of average lifetime housing costs.”
Renting is becoming more socially acceptable, he argued, with some opting for a more flexible lifestyle. Divorce is another factor.
Another social shift is that people are staying single for longer, and following frenetic house price growth before and after the last recession, it is harder to get a mortgage on one salary for those in their 30s and 40s.
• Tracker rates fall below 1pc for the first time
The collective value of all rental homes lived in by 50 to 64-year-olds has increased by 358pc since 2001, compared with 314pc for under-35s."
'via Blog this'
“We’re seeing the lack of accessibility to homeownership that was confined to the under-35s move up into the next age group,” said Mr Cook.
“With a finite amount of social housing stock concentrated in older households, a lack of access to owner occupation is not just affecting the under-35s but beginning to feed up into the 35 to 49 age group. With an ageing population, this creates significant long-term issues in terms of average lifetime housing costs.”
Renting is becoming more socially acceptable, he argued, with some opting for a more flexible lifestyle. Divorce is another factor.
Another social shift is that people are staying single for longer, and following frenetic house price growth before and after the last recession, it is harder to get a mortgage on one salary for those in their 30s and 40s.
• Tracker rates fall below 1pc for the first time
The collective value of all rental homes lived in by 50 to 64-year-olds has increased by 358pc since 2001, compared with 314pc for under-35s."
'via Blog this'
The woman who liberated South Korea's housewives - BBC News
The woman who liberated South Korea's housewives - BBC News: "Gwen Lee is a teacher who earns $500,000 a year. In an economy with a thirst to learn, she has turned herself into a business.
She teaches English to 1,000 people a month in classrooms and to 200,000 people online. Such is the demand for her lessons that she gets inquiries from China.
Koreans - and clearly some Chinese - see English as a passport to a better job so she is in demand.
Her staff includes a chauffeur who ferries her in a classic black town car between the classroom and her offices in the business district of Gangnam.
Her assistants field inquiries on the internet. One section of her office has been turned into a television studio where she and her cameraman record each week's online lessons.
She is, in effect, a brand and so image is important. A scruffy teacher would not get the business, so she starts her day at 07:30 with a hair and make-up artist. Through the day, she freshens her make-up 10 times.
Her day is a relentless public performance. She sometimes wonders which is the real person - the confident public persona that is constantly behind the mask of make-up or some other, more private person.
"When I am at home, I think about lots of things. And I think, 'Why do I have to be in front of all these people and be successful? What am I trying to do? What am it trying to show?'
"And all of a sudden, I feel so empty and I think, 'Am I doing the right thing?'
"But the moment I put on my make-up and stand in front of all the students in my class, I feel confident and sometimes I feel comfortable. I think both of them are me."
South Korea has many connections to the English language. The Americans have been here since 1945 and many South Koreans have family in the United States. But one of the real drives to learn English is also to get a better job - self-improvement."
'via Blog this'
She teaches English to 1,000 people a month in classrooms and to 200,000 people online. Such is the demand for her lessons that she gets inquiries from China.
Koreans - and clearly some Chinese - see English as a passport to a better job so she is in demand.
Her staff includes a chauffeur who ferries her in a classic black town car between the classroom and her offices in the business district of Gangnam.
Her assistants field inquiries on the internet. One section of her office has been turned into a television studio where she and her cameraman record each week's online lessons.
She is, in effect, a brand and so image is important. A scruffy teacher would not get the business, so she starts her day at 07:30 with a hair and make-up artist. Through the day, she freshens her make-up 10 times.
Her day is a relentless public performance. She sometimes wonders which is the real person - the confident public persona that is constantly behind the mask of make-up or some other, more private person.
"When I am at home, I think about lots of things. And I think, 'Why do I have to be in front of all these people and be successful? What am I trying to do? What am it trying to show?'
"And all of a sudden, I feel so empty and I think, 'Am I doing the right thing?'
"But the moment I put on my make-up and stand in front of all the students in my class, I feel confident and sometimes I feel comfortable. I think both of them are me."
South Korea has many connections to the English language. The Americans have been here since 1945 and many South Koreans have family in the United States. But one of the real drives to learn English is also to get a better job - self-improvement."
'via Blog this'
Millionaires Who Are Frugal When They Don’t Have to Be - NYTimes.com
Millionaires Who Are Frugal When They Don’t Have to Be - NYTimes.com: "You wouldn’t know it from their shopping habits, but Ms. Marchi, 56, a senior health care executive who has run hospital chains, and Mr. Weidner, 57, a senior researcher at a large nonprofit company, are worth millions of dollars. And while they own three homes — condominiums in Naples and Boca Raton, Fla., and a house in Lebanon, Pa., where they grew up, none of them are huge. One splurge is an annual trip to Italy.
The couple are the face of the self-made millionaire who has the financial security of true wealth, not the fleeting rush of sudden riches. While the popular perception of millionaires is that they are more ostentatious than frugal, recent research shows that single-digit millionaires, at least, are generally far more mindful about how they save, spend and invest their money.
“It’s about paying attention to what makes you happy and not just doing what our society tells us to do,” said Donna Skeels Cygan, a financial adviser in Albuquerque and the author of the book “The Joy of Financial Security.”
“They look upon money as a tool,” she said of couples like Ms. Marchi and Mr. Weidner, with whom she has worked. “It’s an important tool. They don’t neglect it, but they also don’t worship it.”
A recent report from UBS Wealth Management found that people with more money are generally happy, which probably doesn’t come as much of a shock. “I would say that millionaires in general are very happy,” said Paula Polito, chief client strategy officer at UBS Wealth Management Americas. “I wouldn’t confuse happiness with contentment or satisfaction or achievement.”
The UBS report found that satisfaction rose in line with wealth: 73 percent of those with $1 million to $2 million, 78 percent of those with $2 million to $5 million and 85 percent of those with over $5 million reported that they were “highly satisfied” with life.
What piqued my curiosity was how conflicted the report’s respondents seemed to be about the source of their wealth. They often have jobs that entail long hours, high pressure and working vacations.
“Part of this pressure to keep going is less about greed and more about insecurity that might be self-imposed,” Ms. Polito said. “If you ask people, ‘If you knew you had five more years to live, would you act differently?’ they say they would. That’s a showstopper.”
Advertisement
Continue reading the main story
Money buys happiness, the report said. But what good is that happiness if the millionaires who have it cannot enjoy the freedom the money gives them, the freedom that most people would love to have?
I set out to talk to people who had what I considered an attainable level of wealth for people with well-paying jobs and the ability to control their spending and saving through their lifetime. They had wealth starting at several million dollars, but it did not stretch above the $10.86 million estate tax exemption level for couples.
(Once people’s wealth goes substantially past the estate tax exemption, they need tax and legal advisers for planning to minimize the estate tax. It’s a good problem to have, but it changes how they think about money.)
There were common threads in this group. These were people who had all made the money in their own lifetimes and done that as much by saving, investing and making careful choices about spending as by making large salaries.
One of the big choices was what they spent money on. A common thread was frugality about cars. Not only did they buy modestly priced vehicles, they kept them for a long time.
But fancy cars were more of a proxy for unnecessary purchases. Steve Ingram, a real estate and oil and gas lawyer in Albuquerque, said he and his wife simply didn’t care that much about material possessions.
“We have some nice things, but I drive a car for 10 years and then trade it in and get another car for 10 years,” he said. “We like to travel, and we’ll spend the money for that because it’s worth it having a real experience together.”"
'via Blog this'
The couple are the face of the self-made millionaire who has the financial security of true wealth, not the fleeting rush of sudden riches. While the popular perception of millionaires is that they are more ostentatious than frugal, recent research shows that single-digit millionaires, at least, are generally far more mindful about how they save, spend and invest their money.
“It’s about paying attention to what makes you happy and not just doing what our society tells us to do,” said Donna Skeels Cygan, a financial adviser in Albuquerque and the author of the book “The Joy of Financial Security.”
“They look upon money as a tool,” she said of couples like Ms. Marchi and Mr. Weidner, with whom she has worked. “It’s an important tool. They don’t neglect it, but they also don’t worship it.”
A recent report from UBS Wealth Management found that people with more money are generally happy, which probably doesn’t come as much of a shock. “I would say that millionaires in general are very happy,” said Paula Polito, chief client strategy officer at UBS Wealth Management Americas. “I wouldn’t confuse happiness with contentment or satisfaction or achievement.”
The UBS report found that satisfaction rose in line with wealth: 73 percent of those with $1 million to $2 million, 78 percent of those with $2 million to $5 million and 85 percent of those with over $5 million reported that they were “highly satisfied” with life.
What piqued my curiosity was how conflicted the report’s respondents seemed to be about the source of their wealth. They often have jobs that entail long hours, high pressure and working vacations.
“Part of this pressure to keep going is less about greed and more about insecurity that might be self-imposed,” Ms. Polito said. “If you ask people, ‘If you knew you had five more years to live, would you act differently?’ they say they would. That’s a showstopper.”
Advertisement
Continue reading the main story
Money buys happiness, the report said. But what good is that happiness if the millionaires who have it cannot enjoy the freedom the money gives them, the freedom that most people would love to have?
I set out to talk to people who had what I considered an attainable level of wealth for people with well-paying jobs and the ability to control their spending and saving through their lifetime. They had wealth starting at several million dollars, but it did not stretch above the $10.86 million estate tax exemption level for couples.
(Once people’s wealth goes substantially past the estate tax exemption, they need tax and legal advisers for planning to minimize the estate tax. It’s a good problem to have, but it changes how they think about money.)
There were common threads in this group. These were people who had all made the money in their own lifetimes and done that as much by saving, investing and making careful choices about spending as by making large salaries.
One of the big choices was what they spent money on. A common thread was frugality about cars. Not only did they buy modestly priced vehicles, they kept them for a long time.
But fancy cars were more of a proxy for unnecessary purchases. Steve Ingram, a real estate and oil and gas lawyer in Albuquerque, said he and his wife simply didn’t care that much about material possessions.
“We have some nice things, but I drive a car for 10 years and then trade it in and get another car for 10 years,” he said. “We like to travel, and we’ll spend the money for that because it’s worth it having a real experience together.”"
'via Blog this'
Real estate bidding wars | Watch News Videos Online
Real estate bidding wars | Watch News Videos Online: "Fri, Jun 5: Vancouver’s hot real estate market is showing no signs of cooling down. In fact, fueled by foreign investors ready to drop big coin – it’s getting hotter. A home in west vancouver just sold for $1.1 million over its listing price. Asa Rehman reports"
'via Blog this'
'via Blog this'
Saturday, June 6, 2015
How to edit the system PATH variable in Windows registry
Using the control panel, you may be able to see only a little more than 2000 characters of the PATH variable. To edit it and add more paths to it, you can edit it in the Registry.
1. Run regedit.exe.
2. HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Session Manager\Environment\Path
3. The Editor (right click on the key and select “Modify”) will allow you to use more characters.
1. Run regedit.exe.
2. HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Session Manager\Environment\Path
3. The Editor (right click on the key and select “Modify”) will allow you to use more characters.
Home Away From Home: A Desi Senior Center in Queens - NBC News
Home Away From Home: A Desi Senior Center in Queens - NBC News: "Not far from the bustling Bangladeshi restaurants and stores on Hillside Avenue is a mosque teeming with activity but not necessarily from worshippers. During the day, women and men sing songs at the "open mic," take English classes, learn about civil rights leaders like Martin Luther King Jr. and participate in group exercise. They eat meals, pray and celebrate their birthdays together. Sometimes they cry too.
These folks are members of the newly opened "Desi Senior Center," a facility targeted to assist the growing and aging South Asian community in this Queens, New York neighborhood. (Desi is a term that describes anyone from South Asia - Bangladesh, India, Pakistan, Nepal and Sri Lanka). The program is attended mostly by Bangladeshi Muslim immigrants but is open to people of all faiths and backgrounds. It is housed in the basement of the Jamaica Muslim Center in Queens, free of charge and is open to anyone 60 and up (though exceptions are sometimes made for younger participants.)
The facility is operated by India Home, a non-profit organization started by a group of Indian-American physicians who longed for a culturally sensitive community space for their aging parents. The center is open three days a week and offers a wide range of services tailored to the needs of seniors. Bangla is spoken, halal meals are served, prayer space is available and men and women exercise separately. It is the largest program of its kind for South Asian seniors in New York City, with roughly 100 seniors attending on a regular basis."
'via Blog this'
These folks are members of the newly opened "Desi Senior Center," a facility targeted to assist the growing and aging South Asian community in this Queens, New York neighborhood. (Desi is a term that describes anyone from South Asia - Bangladesh, India, Pakistan, Nepal and Sri Lanka). The program is attended mostly by Bangladeshi Muslim immigrants but is open to people of all faiths and backgrounds. It is housed in the basement of the Jamaica Muslim Center in Queens, free of charge and is open to anyone 60 and up (though exceptions are sometimes made for younger participants.)
The facility is operated by India Home, a non-profit organization started by a group of Indian-American physicians who longed for a culturally sensitive community space for their aging parents. The center is open three days a week and offers a wide range of services tailored to the needs of seniors. Bangla is spoken, halal meals are served, prayer space is available and men and women exercise separately. It is the largest program of its kind for South Asian seniors in New York City, with roughly 100 seniors attending on a regular basis."
'via Blog this'
Friday, June 5, 2015
Retire In Malaysia With $200,000 Of Savings?
Retire In Malaysia With $200,000 Of Savings?: "Malaysia’s cities offer the modern amenities that Westerners demand, in exotic surroundings made for outdoors gawking, browsing and noshing.
All this for eye-opening prices. According to Numbeo’s cost-of-living figures, a one-bedroom apartment in George Town averages $175 in the city center, and $140 in the suburbs. A centrally located three-bedroom apartment runs around $465. For buyers, condo prices run $136 per square foot. (Overall cost of living in Kuala Lumpur will be 20% higher, with rents costing three or four times as much.)
Pocket money goes farther in Malaysia, too. A meal at an inexpensive restaurant runs as little as $2, and a three-course meal for two at a mid-range restaurant averages $15. A trip on an efficient mass transit system is 56 cents.
ESTIMATING YOUR COST OF LIVING
The cost-of-living site Numbeo provides a breakdown of consumer prices, including real estate costs, in the Malaysian cities and towns most attractive to expats. You need to run the numbers for yourself to determine whether you require expensive or moderate shoes and booze. But it shows that a couple can live a “moderate” lifestyle in a one-bedroom apartment in the center of George Town for as little as $1,065 monthly, even if they eat Western food at home, dine out fairly often and keep up a health club membership. Add in several vacations a year and a few other amenities like taxis, and costs could go to $1,565 a month. Upgrade to a three-bedroom centrally located apartment and it rises to $1,870 monthly.
At the lower limit for a couple in George Town some basic math suggests that your $200,000 savings would last more than 15 years, though only eight at the upper limit as described.
This is just a back-of-the-envelope example, of course. It doesn’t include taxes or medical costs, and only you know what other unavoidable expenses you may incur. It also assumes your monthly expenses stay exactly the same, that your retirement savings don’t grow and that you won't have any other source of income.
ADD IN SOCIAL SECURITY
Most Americans get Social Security payments, of course – an average $1,328 a month ($2,176 for a couple). These will cover a good chunk of your monthly expenses, stretching your savings further. Ditto if you find a place out of a city center or share the apartment."
'via Blog this'
All this for eye-opening prices. According to Numbeo’s cost-of-living figures, a one-bedroom apartment in George Town averages $175 in the city center, and $140 in the suburbs. A centrally located three-bedroom apartment runs around $465. For buyers, condo prices run $136 per square foot. (Overall cost of living in Kuala Lumpur will be 20% higher, with rents costing three or four times as much.)
Pocket money goes farther in Malaysia, too. A meal at an inexpensive restaurant runs as little as $2, and a three-course meal for two at a mid-range restaurant averages $15. A trip on an efficient mass transit system is 56 cents.
ESTIMATING YOUR COST OF LIVING
The cost-of-living site Numbeo provides a breakdown of consumer prices, including real estate costs, in the Malaysian cities and towns most attractive to expats. You need to run the numbers for yourself to determine whether you require expensive or moderate shoes and booze. But it shows that a couple can live a “moderate” lifestyle in a one-bedroom apartment in the center of George Town for as little as $1,065 monthly, even if they eat Western food at home, dine out fairly often and keep up a health club membership. Add in several vacations a year and a few other amenities like taxis, and costs could go to $1,565 a month. Upgrade to a three-bedroom centrally located apartment and it rises to $1,870 monthly.
At the lower limit for a couple in George Town some basic math suggests that your $200,000 savings would last more than 15 years, though only eight at the upper limit as described.
This is just a back-of-the-envelope example, of course. It doesn’t include taxes or medical costs, and only you know what other unavoidable expenses you may incur. It also assumes your monthly expenses stay exactly the same, that your retirement savings don’t grow and that you won't have any other source of income.
ADD IN SOCIAL SECURITY
Most Americans get Social Security payments, of course – an average $1,328 a month ($2,176 for a couple). These will cover a good chunk of your monthly expenses, stretching your savings further. Ditto if you find a place out of a city center or share the apartment."
'via Blog this'
Money laundering investigation stymied by China, Italy says - Yahoo Finance
Money laundering investigation stymied by China, Italy says - Yahoo Finance: "FLORENCE, Italy (AP) — Police in Florence wondered where all the money was going. Italy's economy was heading off a cliff, but its Chinatowns were booming. Luxury cars snaked past Chinese betting parlors and garment factories that hummed into the night. Chinese immigrants were buying up Italian coffee bars and real estate. But their prosperity was not reflected in local tax records.
"What do they do with the money?" said Pietro Suchan, then deputy public prosecutor in Florence. "Do they eat it?"
The answer, after a four-year investigation by Italy's financial police, was no. They discovered that more than 4.5 billion euros ($4.9 billion) — the proceeds of counterfeiting, prostitution, labor exploitation and tax evasion — had been smuggled out of Italy to China in less than four years using a money-transfer service. "
'via Blog this'
"What do they do with the money?" said Pietro Suchan, then deputy public prosecutor in Florence. "Do they eat it?"
The answer, after a four-year investigation by Italy's financial police, was no. They discovered that more than 4.5 billion euros ($4.9 billion) — the proceeds of counterfeiting, prostitution, labor exploitation and tax evasion — had been smuggled out of Italy to China in less than four years using a money-transfer service. "
'via Blog this'
Thursday, June 4, 2015
Asians Shun American Dream for a Break Back Home
Asians Shun American Dream for a Break Back Home: "Experts said easy access to capital and low regulation and taxes in some Asian countries such as Hong Kong and Singapore means there's not too much difference to setting up a new business in Asia compared with the U.S.
"Hong Kong is one of the easiest places in the world to do business because of low taxes and the ease of labor laws," said City Super's Woo. "I think it's something similar to Singapore – you can set up a business in one week's time."
Easy access to capital in Asia means the region's entrepreneurs don't necessarily have to take their ideas to Silicon Valley or other innovation hubs outside the region, analysts said.
Since 2005, the number of startups in Asia has risen sharply with at least 8,000 backed by venture capital, according to Rebecca Fannin, author of the books Silicon Dragon and Startup Asia.
"The entrepreneur revolution is spreading throughout Asia, even to places like Hong Kong that have not traditionally been startup hubs," she told CNBC.
(Read More: Can a Pawn Shop Turn Around Hong Kong's IPO Market?)
China is the second-largest venture capital market in the world, followed by India, while China ranks fourth in the world for new patent applications, up from 10th place in 2005, an example of innovation taking hold, according to Fannin.
Asian entrepreneurs educated or trained in the West have a distinct advantage over peers who are not, said experts.
"To start up a new business you need finances. For those people who have worked on Wall Street or in Silicon Valley, it helps them create a business model that might appeal to Western investors," said Ringo Choi, strategic growth markets APAC leader at Ernst &Young.
Take a Chance
Even with Asia's rapid economic growth, the U.S. has traditionally been a strong location for Asian entrepreneurs to start up a new business and follow the successful examples of Apple's Steve Jobs or Facebook's Mark Zuckerberg.
But tighter immigration laws in the U.S. could be another motivation for those U.S.-educated Asians to follow their ambitions in Asia rather than in Silicon Valley, analysts said.
According to the U.S. Kauffman Foundation, the share of companies founded by immigrants in Silicon Valley slowed to 44 percent between 2006 and 2012 from 52 percent between 1995 and 2005, suggesting some reverse flow of talent from the U.S. may be taking place.
"The U.S. is very entrepreneurial and it is a great place to have your own business and of course working in the financial industry gives you a lot of opportunities as an entrepreneur," said Steven Pan, chairman of Regent Hotel who returned home to Taiwan in the 1990s after starting his career as a banker on Wall Street.
(Read More: It's the Best Time to Be an Entrepreneur: Pro)
"If you stay in the U.S. there are a lot of opportunities in the financial industry alone, but in Asia there is a broad range of industries you can go into. I didn't even know about the hotel industry until I came home," said Pan who returned to work for a hotel and then went on to buy out his boss.
But giving up the American Dream to come back is not always easy.
Pan, the winner of the 2012 Ernst & Young entrepreneur of the year award in Taiwan, said he took a 50 percent pay cut when he quit his Wall Street job to return to Asia. "
'via Blog this'
"Hong Kong is one of the easiest places in the world to do business because of low taxes and the ease of labor laws," said City Super's Woo. "I think it's something similar to Singapore – you can set up a business in one week's time."
Easy access to capital in Asia means the region's entrepreneurs don't necessarily have to take their ideas to Silicon Valley or other innovation hubs outside the region, analysts said.
Since 2005, the number of startups in Asia has risen sharply with at least 8,000 backed by venture capital, according to Rebecca Fannin, author of the books Silicon Dragon and Startup Asia.
"The entrepreneur revolution is spreading throughout Asia, even to places like Hong Kong that have not traditionally been startup hubs," she told CNBC.
(Read More: Can a Pawn Shop Turn Around Hong Kong's IPO Market?)
China is the second-largest venture capital market in the world, followed by India, while China ranks fourth in the world for new patent applications, up from 10th place in 2005, an example of innovation taking hold, according to Fannin.
Asian entrepreneurs educated or trained in the West have a distinct advantage over peers who are not, said experts.
"To start up a new business you need finances. For those people who have worked on Wall Street or in Silicon Valley, it helps them create a business model that might appeal to Western investors," said Ringo Choi, strategic growth markets APAC leader at Ernst &Young.
Take a Chance
Even with Asia's rapid economic growth, the U.S. has traditionally been a strong location for Asian entrepreneurs to start up a new business and follow the successful examples of Apple's Steve Jobs or Facebook's Mark Zuckerberg.
But tighter immigration laws in the U.S. could be another motivation for those U.S.-educated Asians to follow their ambitions in Asia rather than in Silicon Valley, analysts said.
According to the U.S. Kauffman Foundation, the share of companies founded by immigrants in Silicon Valley slowed to 44 percent between 2006 and 2012 from 52 percent between 1995 and 2005, suggesting some reverse flow of talent from the U.S. may be taking place.
"The U.S. is very entrepreneurial and it is a great place to have your own business and of course working in the financial industry gives you a lot of opportunities as an entrepreneur," said Steven Pan, chairman of Regent Hotel who returned home to Taiwan in the 1990s after starting his career as a banker on Wall Street.
(Read More: It's the Best Time to Be an Entrepreneur: Pro)
"If you stay in the U.S. there are a lot of opportunities in the financial industry alone, but in Asia there is a broad range of industries you can go into. I didn't even know about the hotel industry until I came home," said Pan who returned to work for a hotel and then went on to buy out his boss.
But giving up the American Dream to come back is not always easy.
Pan, the winner of the 2012 Ernst & Young entrepreneur of the year award in Taiwan, said he took a 50 percent pay cut when he quit his Wall Street job to return to Asia. "
'via Blog this'
K-12 Oregon Virtual School | Oregon Connections Academy
K-12 Oregon Virtual School | Oregon Connections Academy: "Students throughout Oregon are thriving at Oregon Connections Academy (ORCA), a tuition-free public virtual school in Oregon. ORCA gives students the flexibility to learn at home with a curriculum that meets rigorous state education standards and a program featuring:
A challenging K–12 curriculum developed by leading education experts
Instruction from state-certified teachers experienced in online instruction
Support from trained counselors, principals, and administrative staff
Free textbooks and curriculum materials needed to participate in a dynamic online learning environment
Computers for families with students in grades K–8*"
'via Blog this'
A challenging K–12 curriculum developed by leading education experts
Instruction from state-certified teachers experienced in online instruction
Support from trained counselors, principals, and administrative staff
Free textbooks and curriculum materials needed to participate in a dynamic online learning environment
Computers for families with students in grades K–8*"
'via Blog this'
U.S. workers ask: Where’s my raise? - Yahoo Finance
U.S. workers ask: Where’s my raise? - Yahoo Finance: "Wages and salaries were up 2.6% in the first quarter of 2015 from a year earlier, the biggest increase since 2008, according to the Labor Department. A slew of U.S. companies, including Wal-Mart Stores Inc., Target Corp. and McDonald’s Corp., have announced pay raises in recent months.
But even at full employment—with the economy nearing its productive capacity—Mr. Williams said annual wage increases of 4% or more, common before the recession, would likely be replaced by gains of 3% to 3.5%.
For workers, such differences are significant. A family earning $100,000 a year, for example, would see its income climb to $148,000 over a decade with annual raises of 4%; yearly income would grow to $134,000 over the same period with 3% annual raises.
A longtime problem
Stagnant incomes are a long-running problem for the American middle class. Median household income, adjusted for inflation, was $51,939 in 2013, only slightly higher than it was in 1988, when it was $51,514. Slow wage growth is part of the problem; adjusted for inflation, blue-collar pay has increased just 0.3% a year over the past quarter-century."
'via Blog this'
But even at full employment—with the economy nearing its productive capacity—Mr. Williams said annual wage increases of 4% or more, common before the recession, would likely be replaced by gains of 3% to 3.5%.
For workers, such differences are significant. A family earning $100,000 a year, for example, would see its income climb to $148,000 over a decade with annual raises of 4%; yearly income would grow to $134,000 over the same period with 3% annual raises.
A longtime problem
Stagnant incomes are a long-running problem for the American middle class. Median household income, adjusted for inflation, was $51,939 in 2013, only slightly higher than it was in 1988, when it was $51,514. Slow wage growth is part of the problem; adjusted for inflation, blue-collar pay has increased just 0.3% a year over the past quarter-century."
'via Blog this'
Subscribe to:
Posts (Atom)