The Year Of The Saber

In this the year of the saber as some would prefer to call it where the drums of war are already beating the clamor for supremacy has already begun. As so often in the past when sabers rattle has only inhibited the forward progress of humanity. There are many of the powers that be whose self serving ideologies have already intensified what is now a network of global terror. It is known that power struggles whether it is in the animal kingdom or by man have been going on since the beginning of time. It really seems to be as though we are no better than the predators of nature where dominance is always determined by violent confrontation. And, if history is any indication makes us really think about the trajectory of where mankind is actually headed.

As cries of desperation swell where hopes and dreams continue wither and die the chances of a ending the quagmire that is in the Mid-East gets slimmer every time sabers are drawn. With violence mounting in Israel where the latest clash between Jews and Arabs is so reminiscent when the Catholics and Protestants in Ireland broke out in violent reprisals. As tensions mount all around the region the Mid-East is a powder keg already poised to set the whole region in more flames of terror and death. As warring factions continue to grow perpetuating the onslaught that has multiplied the flow of humanity escaping the stench of war. Already with ISIS, the Taliban, and Al-Qaeda along with many Arabs seeking dominance have already secured their footing. The sanctity of life means to nothing to them. Collateral damage as some would say brings little comfort to the multitudes of faceless individuals trying to escape the mayhem, death and destruction.

As for the thousands if not millions that are caught in this web of the constant struggle between life and death it is not reassuring for the rest of us. The storm clouds continue to blow seeds of destruction that will defiantly grow. The constant misery that it brings spreads more death and woe. The plight that so many face is just a reminder of how far mankind really has to go before the light of peace and harmony will take it's place. Today, it seems that the world is in darkness where factions have found a way to shield out the light of hope and reason. Perplexed are some of our leaders today who continue to fiddle away is apparent in everything that they say. Without a global resolve those seeds of destruction will only bring more sabers into play.

Rouge nations like North Korea and fanatic factions all over the globe have already amassed the resources for more mayhem and destruction. We have to realize that a more unified effort is needed from every country affected by the surge of hostilities in the Mid-East and all those who have opened their boarders for the influx of refugees to dispel the notion that the world as we now know it will soon disappear. To reach that secure future that lies ahead has always been within our grasp. But, we have to first realize that it was the United States through inept foreign policies from the past hat has opened up the flood gates releasing torrential rains of terror that has flooded the entire Middle East. In denial are some of our dubious officials but the fact remains the entire world now is a hot bed of tension ready to explode where the year of the saber has taken hold.

Amidst the horrific carnage in Syria that has gone on for far too long now Russia is in the mix. With the United States sabers at the ready leading the charge. Questions now are beginning to surface in the aftermath of so much grotesque savagery where thousands have perished in a brutal civil war. It is known that Russia who is aligned with Assad and now the United States is fueling more aggression by sending arms and munitions to help another cause puts the world on notice that maybe the United States just can't get it right. We have to remind ourselves that not since the end of World War II has the United States been victorious or totally successful when we have sent troops in harms way. The Korean war ended in appeasement where no clear victor stood over the vanquished foe. Vietnam was yet another futile attempt where thousands of American lives were lost. The first Gulf War was a exercise in global response to securing a region that had fallen into the hands of another tyrannical ruler, only to ignite the flames that exploded on 9/11. What has occurred since, we have become the gun slinger whose quick draw topples regimes. It is no wonder that so many countries perceive America as the fastest gun in the West. We have become what we thought we never be, the War Monger in the eyes of so many.

And, the carnage only continues. When the Arab spring exploded on the world's stage just couple of years ago it actually was a prelude of things to come. The violent overthrow of government in Egypt and US backing overthrow in Libya coinciding with the continuing savagery in Syria has once again drawn ire and condemnation from most of the rest of the world. And, yet we have only continued to put more Americans in harms way, wasted billions if not trillions of dollars in a quagmire that seems to never end and set the stage for more unrest in Europe with all the humanitarian needs from the mass influx of refugees. The year of the saber has already taken it's place.

But, it is not only half a world away where the US continues to display an arrogance so typical of late. It is the main stream media and our tough touting politicians who are either too blind to see, to consumed with party loyalties, too interested in gaining more campaign cash, or just oblivious to the continued harsh realities millions of Americans face each and every day that continue to rave how good our economy is. When in reality it has been trade agreement after trade agreement form the past 30 years that made it more lucrative for companies to eliminate untold millions of middle class jobs. In doing so the US has secured the largest income disparity gap in history, put this nation deeper in debt and in essence gravely jeopardized our national security while destabilizing our national economy. When just recently Nabisco closed what was the largest bakery in the world in Chicago, laying off over 1400 workers just in time for the holiday season, and moving operations to Mexico. This is just one of thousands of outcomes of inept US policies that have been implemented that has made this year of the saber more devastating for Americans.

For senior citizens in this the year of the saber are going to feel a most difficult financial pinch. When our dubious legislators passed legislation concerning Social Security where cost of living increases make it possible for seniors to stay in their homes, buy food, pay utilities, and keep paying those Medicare Part B premiums that have increased this year will get no cost of living adjustment. A cost of living adjustment that still won't keep pace with all the other rising costs of today just because gas prices per gallon we pay at the pump today are not as costly as they once were. It really is a perverted sense of equation when it comes to cost of living adjustments for our seniors. To add salt to the wound as they say over 600,000 seniors already are in reverse mortgage foreclosures. And, without a cost of living increase the prognosis is that thousands more will be faced with foreclosure. All those TV adds that we see more frequently today when either Fred Thompson or Henry Winkler push reverse mortgages as a useful financial tool are really beguiling the public into thinking that it is free money when in reality all reverse mortgages are nothing more than a home line of credit that has to be paid back with compounding interest. Leave it to Einstein who visualized compounding interest as the eighth wonder.

With political rhetoric heating up many of today's Presidential contenders are not in tune with the realities of our times. A more brutal harsh world too many face is the reality now. As the harshness of winter fast approaches millions the world over still will be faced with the realities that their world has been turned upside down. For millions of refugees on unfamiliar ground too many dreams have already died. The squalor that many face even here as well as abroad is more apparent with each passing day.

In putting the conflict especially in Syria in perspective we have to truly understand the history of Syria and what actually is the driving force behind one of the worlds most violent civil war. Modern Syria was established after the First World War as a French mandate. After the First World War Syria represented the largest Arab state to emerge from the formerly Ottoman-ruled Arab Levant but didn't become an independent nation until 1946 after World War II. In 1946 the government of Syria was of a parliamentary republic. But, soon afterward began a series of military coups that began a reign instability that lasted over 20 years. It was in between one military coup that Syria had a brief union with Egypt from 1958 to 1961. It was too short lived and another military coup took effect where the whole country was and still is under Emergency Law. This Emergency Law effectively suspended most of the constitutional protections that were established when Syria first gained independence. Today, Syria is probably best describe as a country whose government is that of a non democratic where Bashar al-Assad has ruled since he took over from his farther in 2000. It was Assad's father who took control of the nation in the last military coup of 1970.

The aftermath of the United States led Libyan overthrow of Muammar Gaddafi and the subsequent violent overthrow in Egypt set off a tempest of unrest. That unrest spilled over into Syria. As a result ignited protest after protest against an entrenched leader who has done very little to combat the hellish living conditions that have existed in Syria for far too long. When Assad retaliated against anti government protests where tensions turned violent members of the Arab states issued a mandate to stop the violence or be suspended from the Arab League entirely. Since the violence has only escalated Syria 's membership in the Arab League has been revoked sending more shock waves through-out the Mid-East.

For the past couple of years the Syrian National Coalition has been the voice of an alternative government. This government was formed to gain entry into the Arab league and has since been recognized as the sole representative of the Syrian people completely cutting off Assad's own governmental rule. Recognized by the United States, Great Britain and even France all have made the case against Assad's regime almost to convincing to turn back now. A little over a year ago the Syrian national coalition elected a Moderate Islamist preacher, Moaz al-Khatib as the group's leader. Its vice-presidents are a dissident industrialist Riad Seif and Suheir al-Attasi, an anti-regime activist from a prominent Syrian family. Now with a semblance of a form of government, an Islamic one, that has already prepared to topple an existing entrenched leader have found out that to do just that requires more resources than are currently available to the Syrian National Coalition.

As in every situation there are two sides to tell. One is the Syrian National Coalition's account of atrocities committed by Syrian governmental forces and the other side of more reports of atrocities committed by Syrian rebel forces that could very well be under the guise of Assad's own troops. In either case the continued violence has ruined all creditability of Assad's government and just maybe the Syrian National Coalitions too. The latest attempt by almost all accounts has resulted in the use of weapons that have been outlawed by the International community. Whether or not biological or chemical weapons were used on unsuspecting inhabitants in and around Syria still has to be documented. But, what is being found out is that some sort of outlawed means of destruction was used. But, whether or not Assad authorized it's deployment or did some faction within the Syrian National Coalition purposely set out to deceive the International community by using these weapons against themselves and is trying to convince the rest of the world that Assad was responsible still remains an unanswered question. One that has to be answered before any further involvement by the West is undertaken. That question has never been answered and yet the United States continues to make foreign policy decisions that have only exasperated the on going crisis in the Mid-East.

When the United States has in the past responded like we did in the aftermath of 9/11 we have done so with sabers rattling only to end up creating more of a tinderbox waiting to catch fire. To further add fuel to this tinderbox it is a well known fact that Russia who has a military base located in Syria has remained steadfast and supportive with the Assad's government pitting the US against Russia. This quandary was just the beginning of many situations that pose a greater threat to the stability of the Mid-East. Today, with ISIS in the thick has only upped the ante for Russia to keep Assad in power. When you throw in what the US is undertaking by arming known aggressors to Assad and not creating an open dialogue with Russia by indirectly opposing Putin the quagmire will not only continue but get worse.

With the economic conditions that remain here in the United States where more financial woes continue to mount for thousands of Americans and our foreign policy that has jeopardized the stability of the entire world is not any wonder then as to why the United States still can't get it's house in order. Just maybe if the world isn't engulfed in flames of more terror and just maybe someone will come up with policy decisions that would actually evoke a resolve just like the Good Friday agreement that ended much of the violence in Ireland back in 1990's. Sad to say though like today in Israel where the Jewish population is still very wary of the Arab population where tensions have now turned to violent reprisals the same is happening all over again in Northern Ireland. Why can't we all just get along.? The year of the Saber has already begun.

By Dr. Tim G Williams

Turkey: A Rising Economic Power

The Middle East is sometimes viewed as an economic failure story. But at the Western fringe of that region, a new global economic powerhouse is rising - Turkey, the transcontinental country positioned strategically between Asia and Europe. With a Gross Domestic Product (GDP) of USD786 billion for 2014, the nation opens its doors to investment across multiple sectors. Will Turkey continue to be a safe haven for investment and can it be a springboard into Europe and the Middle East?

Turkey's steady progression

The 1980's marked a turning point in Turkey's history. The liberalizing reforms by visionary Prime Minister, Turgut Ozal opened up the economy. Even though the latter years were marred by economic disruption, the Kurdish conflict and a banking crisis, Turkey's economy consolidated its gains after 2002 when the Justice and Development Party (AKP) came into government. The AKP have since made concerted efforts to institute structural reforms, new fiscal policies and macroeconomic strategies to attract foreign investment.

Turkey's steady GDP growth - an average of 13 per cent (year-on-year) from 2002 to 2012 - is proof of its progress. As of June 2014, Turkey is the 17th largest economy in the world and the sixth largest compared to the countries in the European Union (EU), which Turkey still does not belong to, but which it would like to join.

Growth potential

Global investors have every reason to explore this burgeoning economy for business opportunities. Some pull factors that make Turkey an attractive destination for diversified Foreign Direct Investment FDI include:

Strategic location

Turkey's strategic location - at the intersection of Europe, Central Asia and the Levant - provides access to major markets and 1.5 billion customers across Europe, Eurasia, Middle East, and North Africa. This makes Turkey a springboard for accessing a market worth approximately USD25 trillion. The country also plans to further develop three key hub ports to position itself as a leading regional shipping logistics center. The largest port project underway - the Candarli Port - is estimated to provide 11.4 million twenty-foot equivalent units upon full completion, at a cost of €910 million.

Turks: a young and skilled labor force

Turkey has a population of 77.7 million (for 2014), with 50 per cent of the population under the age of 31 - which makes it home to the largest youth population among all European nations. 610,000 students graduate from its universities and around 700,000 students graduate from its high schools every year. Around 50 per cent of these students are from vocational and technical high schools, positioning Turkey well for high-tech and R&D investment.

Robust infrastructure

Turkey's infrastructure plays a key role in maintaining strong growth. It continues to upkeep new and highly developed infrastructure in transportation, telecommunications and energy.

North of Istanbul, a new airport is under construction at an estimated cost of €22 billion. A bridge is under construction at a cost of €2.6 billion across the Bosphorus strait that separates Europe from Asia. Moreover, Turkey's extensive transportation system facilitates sea and land communication with other European countries.

At the same time, Turkey plays an important role as an energy transit partner. Geographically, the nation is located in close proximity to more than 70 per cent of the world's proven oil and gas reserves. Some projects undertaken to increase connectivity include the Baku-Tbilisi-Ceyhan (BTC) pipeline (2006) and Baku-Tbilisi-Erzurum (BTE) Natural Gas Pipeline (2007) projects - aimed to ease transit for energy imports across European nations. Turkey is located close to more than 70 per cent of the world's proven oil and gas reserves.

Renewable energy as a resource for Turkey

Turkey does not own any significant energy resources but its strategic location gives it access to more than 70 per cent of the world's energy reserves. Although 60 per cent of the country's energy consumption depends on imported energy, Turkey has the capability to reduce its dependency by using renewable resources to target 30 per cent of its total energy needs. In 2013, the World Bank Group provided USD1 billion to advance renewable energy and energy efficiency projects in Turkey.

Progressive investment climate

Turkey's reformist and pro-growth political culture keeps investors coming to Turkey. The country promises equal treatment for all investors. As of 2014, it took only six days to set up a company while it takes more than 11 days, on average, to do the same in the countries of the Organization for Economic Cooperation and Development (OECD).

Tax benefits along with incentives for strategic and large-scale investments have succeeded in pulling in FDI. For instance, the Corporate Income Tax was reduced from 33 per cent in 2000 to 20 per cent in 2006.

EU Customs Union

Turkey is a member of the Customs Union with the EU since 31st December, 1995 which covers all industrial goods (except agriculture, public or services procurement). Turkey also has Free Trade Agreements with 20 countries. More Free Trade Agreements are in the pipeline. Most exciting of all, the country is pursuing accession negotiations with the EU. Turkish entry into the EU would create ample business opportunities for local and foreign enterprises within the nation.

Sizable domestic market

With a population of 77.7 million in 2014 and the GDP per capita of a middle-income country (USD 10,500 in 2010-2014), Turkey's domestic market is not to be sniffed at. The country is becoming more and more middle-class. Sectors such as telecommunications and banking have registered strong growth in both user base and revenues.

Broadband internet subscribers have increased from 0.1 million in 2002 to 39.9 million in 2014 and mobile phone subscribers increased from 23 million in 2002 to 71.9 million in 2014. Moreover, there were 57 million credit card users in 2014 when compared to 16 million in 2002.

Istanbul catches the eye of global investors

The city of Istanbul is particularly favored by investors due to its strategic location, well-established infrastructure and educated workforce. Istanbul received more than half of the total FDI projects directed to the country between 2007 and 2012.

As costs in Istanbul reflect the influx of FDI, investors have started exploring other cities such as Izmir, Ankara, and Bursa.

Borsa Istanbul (the Istanbul Stock Exchange) has ascended 30 places on the index of global financial centers since 2012. This improvement highlights Istanbul's potential to become one of the top 10 financial centers in the world.

As costs in Istanbul reflect the influx of FDI, investors have started exploring other cities such as Izmir, Ankara, and Bursa.

Measuring investment Risk

To some degree, Turkey still struggles with corruption allegations and occasional political turmoil, which raises investment risk. What factors should investors watch for?

Low domestic saving rate

In 2014, Turkey had the lowest savings rate among 14 large developing countries - currently equivalent to 12.6 per cent of its GDP. The reason is its huge current account deficit (CAD) which stood at USD70 billion in 2013. Turkey needs to ease overdependence on imports of investment goods to improve this.

Furthermore, the nation is highly dependent on international borrowing - any increase in borrowing rates is likely to have adverse effects on the country's economy. For instance, Turkish bank lenders suffered a substantial loss in May 2015 due to new reforms introduced by the government.

Inadequate Research and Development resources

Investors seeking to buy into innovation will have to look elsewhere, as Research and Development (R&D) capacity in Turkey is not very strong. The government has limited policies in place for research and development capacity building.

Political unrest

The political situation in Turkey has improved tremendously since the moderately Islamic AKP party came to power in 2002. The AKP government introduced several reforms such as the abolition of civilian-military courts, changes to the anti-terrorism law and greater empowerment of labor unions. However, the political instability in Turkey's direct neighbors still poses a threat to the stability of the economy. Turkey is right next door to civil-war-wracked Syria and Iraq. Within Turkey, tensions periodically flare up between the more religious supporters of the current Turkish government and secular Turks who are skeptical of the AKP.

Future outlook

Turkey's GDP growth rate is projected to remain steady at 3.6 per cent through 2016 - a far cry from the heady growth in its heyday, but still respectable for a middle-income country. Its liberal and attractive investment climate will continue to help Turkey to invest in sectors such as infrastructure, telecommunications and energy.

The government has set a goal of generating over USD250 billion in GDP by 2023 through investments in energy, transportation and information technology. Such projects are intended to attract big players to invest in the Turkish economy.

There is no doubt that Turkey is a large and important country that holds a great deal of promise as a market as well as an investment location. Its geographic location and skills base make it an excellent hub to export to the Middle East and Europe - and one that is deeply under-appreciated among the international business community. Turkey is an oasis of stability and development in a turbulent region of the world.

However to realize its full potential, Turkish policy makers need to put in place effective long-term institutions to protect its gains in attracting foreign investment. It also needs to address the problems of corruption and potential political divisions in the society between religious and secular Turks. Such divisions, if not addressed through strong, independent and fair institutions that command respect from all Turks, can lead to political instability of the sort that has plagued another middle-income country in the past decade, Thailand.
By Nidhi S Kumar

Why Do We Consume Luxury Goods, But Spend Little Time Enjoying Them?

It can be perceived that day by day, the number of populace investing in Luxury Goods/Services is cumulative. For example, if one was to observe posts on Instagram or Facebook, there would be an increasing number of designer handbags, luxurious meals and luxury cars to be seen. At the same time, it can also be observed that the usage of these products is significantly lower than depicted on social networks. So are people investing in luxury goods and services only for conspicuous consumption?

Conspicuous consumption is a term used to describe investment into luxury goods and services in order to display wealth, or economic power. Veblen (1899) came up with this term when introducing his concept of Veblen goods, which Luxury goods and services fall into. Veblen goods contradict the law of demand. The law of demand states that an increase in price leads to a decrease in quantity demanded. However the price and quantity demanded of Veblen Goods are directly proportional; an increase in price leads to an increase in quantity demanded, and a decrease in price leads to a decrease in quantity demanded.

The reason behind this links once again to the concept of conspicuous consumption. Individuals wish to be seen purchasing expensive goods, in order to appear as wealthier, or stand out by being able to access goods which are not simply accessible for everyone. The use of social media enables individuals to do this as they simply take a photograph of themselves and/or the luxury Veblen good, and display it on Instagram or Facebook for everyone to see. This provides them with the economic power they desire. Social Media has also been a cause of this emerging trend, as it has allowed people to create ideas on how certain goods can give individuals a certain image, and so people can be investing in goods simply to post images of them on social networks, and obtain a certain image within society.

The concept of Veblen Goods and Conspicuous Consumption can therefore be used to explain why individuals spend a prodigious amount of money on luxury goods and services, but spend diminutive time utilising them. It indicates that individuals are more interested in portraying their economic power publicly rather than for their own use. This phenomenon also reveals why an increase in price leads to an increase in demand for these goods, individuals who are able to invest in Veblen Goods are an exception to the general law of demand, in a way that they are more economically powerful, so as a result, achieve their desire of Conspicuous Consumption. By Kainat Ali

The Great Commodity Crash

After four nationalized TV debates the cast of Republican contenders continue to show a resolute in self embellishment on how they and they alone are the next great savior of our nation. But, it was in this latest show of showmanship by all that underscored the embodiment of failing to grasp just how fragile our economy really is. An economy that is so fragile it is right on the verge of falling into an abyss where there is no return. So many missed opportunities to educate the viewing public on what are the actual causes of why the American Dream is out of reach for many millions of Americans today. And, not to mention not one word was uttered about the drastic effects that climate change has on the overall economy. Then of course everyone on that stage is in denial that "Big Oil" is a leading cause of carbon emissions.

There was one golden opportunity to show some resolve in securing the nations economic stability. But, again failure to capitalize on two specific questions asked by the moderators only precluded that everyone on that stage sought to out point the other. When asked would you bail out the banks should another financial crisis hit like it did in 2008 they all missed the mark. What should have been explained entails that when a person deposits money into a bank whether it is a checking, savings or CD account that money is now property of the bank courtesy of the new financial policies that went into effect this past summer. In essence your money is now the banks. In the event that the bank has made bad investments with your money they bear no responsibility to you, the depositor. Regardless of whether it is an FDIC insured financial institution or not those bad investments are the bank's responsibility. But what happened in 2008 when the government bailed out those same financial institutions that risked it all on failed investments that money from the government did not go back to depositors. All the billions of dollars that was funneled back into the financial sector was borrowed to begin with and all it did was put the country further in debt. That government bailout did not go back to her very people that helped these financial institutions ability to make those risky investments. The end result today is that these same financial institutions have amassed more funds in order to again make extremely risky investments that have all the earmarks of causing another great financial crisis.

Again, this past debate and even the Democratic debates have missed the mark to educate the public on just how bad our whole economic future really is. Today, many economists also have failed to surmise the potential catastrophe lying in wait poised to strike untold devastation on the United States. We must remember that history is an invaluable resource. In remembering what other nations have gone through is a great indicator to understanding the consequences of failing to act to prevent similar scenario's. For 40 years after World War II, one economy was the envy of the world. Its goods were exported globally, spurring incredible growth. Due to the diligence and foresight of General Douglas MacArthur Japan became the economic engine that rivaled the United States. By the late 80s Japan's stocks and housing market were on a massive bull-run. Its corporations were dominating the skylines of cities across the world. Its products were lining the shelves of American supermarkets and department stores everywhere. Sounding familiar? It should because China is now dominating our store shelves. But, back in 1980 the Asian Tiger ruled. Iconic American brand names were and still are taking a back seat in the markets of the world.

The 1980's was an era of unprecedented awakening for the American manufacturing sectors. Our whole economy was now being driven by Japanese imports. Toyota dealerships were opening up on street corners all across America, even in Detroit. Cadillacs were being overtaken by Camrys, the coveted Mustang was overrun by Mitsubishis. All this while the Japanese stock exchange, the Nikkei jumped by over 920% eclipsing every other bull market run on stocks in history. Japan's real estate market soared and by 1989 a single square foot in Tokyo cost over $93,000. At that time it was the most expensive real estate in the world.

Japan was an emerging market success story unlike any the world had ever known, becoming a wealthy developed country in just three decades. And the consensus was almost unanimous: the Japanese were taking over the world. But, then to the shock of virtually everybody something went horribly wrong. The Japanese economic miracle started to rip apart. Its market began a precipitous slide. The Nikkei plummeted over 50% in just two years, and continued its slide to 80% into early 2009! Even today, the Nikkei is 50% off its 1989 high! The question is what happened to cause this sudden collapse?

The answer lies with the greatest resource that drives any economy and the fulfillment of the "Williams Theory of Economic Evolution" Today, the United States is faced with the exact scenario that doomed Japan into falling into their worst economic crisis since before World War II. For over 14 years Japan's stock market and economy declined and for the next 20 years they have only experienced a minor rebound. Still many never imagined Japan's depression would last that long and today not one political candidate is even mentioning or predicting the same fate that awaits the United States.

History is about to repeat itself yet again if we don't come to grips with this imminent threat to our economic future. What make this so dangerous for the security and stability of America's economy is that all the headlines are focused on gold, oil or water. Granted all are contributing factors that drive economies but the one resource that is failing to grab everyone's attention is people, the ultimate commodity. Still many will argue that one resource cannot send a market crashing and an economy into a recession or even a depression and yet history has proven it can time and time again.

In the latest report by the Federal Reserve over $84 trillion is directly affective by our population. When you look at the United States gross domestic product or GDP is only $18 trillion. All this means that the working populations economic impact is four times greater than our GDP, meaning that people are the ultimate force that drives markets. Now when you have political candidates wanting to deport immigrants or support trade agreement that only continue to decimate the American workforce, the very resource that drive economies just think of the double impact on our economic future. A major catastrophe awaits us.

Back in the 1950's through early 1960's the birth rate in the United States was around 96% today that birth rate has declined to where it stands at 28%. As it stands today the United States is facing a major shortage which will trigger a economic recession if not a full blown depression in the near future if we fail to address this now. Let's face the facts. Right after World War II birth rates increased so that over 109.2 million were born in just 18 years. Today that 109.2 million are know as the baby boomer generation which represent 32% of the population and over $46 trillion of the nations wealth. This generation now controls 77% of the net worth of the United states. We should point out that the average person now spends the most in proportion to their income at the age of 46. The accumulated wealth reaches it's peak when they reach the age of 64. The baby boomer generation is today's driving force of our economy. But, since 2007 this generation has begun withdrawing from the workforce and retiring. It should be noted that since the mid 1990's the middle class wage jobs were vanishing faster than the jobs created. In short we have had a job shortage with minimal wages which adds to the economic quandary we face today.

The combined impact of so many baby boomers retiring at a rate of over 10,000 per day with an estimated 50 million retiring within the next decade and the continued lack of middle class wage jobs with people filling those employment venues will have a very prolonged impact on the future stability of our whole economic future. When so many millions of skilled workers that are leaving the work force or have been forced out due to governmental policies that have enticed so many businesses to relocate outside the United States the income power that they possessed is lost. This is the crisis at hand.

Some say there is no solution yet it is these naysayers of political expediency are focused not on this most pressing crisis but on maintaining their ego's is the height of their hypocrisy. The economic impact now is being felt. The failure to achieve the Williams Theory of Economic Evolution in the United States is accelerating an economic crisis that will have devastating consequences that will reverberate around the globe. So what is the answer to bring more people into the United States and at the same time rejuvenate employment opportunities with real middle class wages so that instead of failing to achieve the Williams Theory of Economic Evolution the United States will in fact be the one economic engine that will power the third industrialized revolution. The answer lies in implementation of National Economic Reform's Ten Articles of Confederation. By Dr. Tim G Williams

Global Recession

The global economy is nowadays going through a phase of recession. Analysts believe that a slowdown concentrated in emerging markets will drag down demand and see economic activity fall across the world. China is growing at just 4pc, well below the country's official 7pc growth target. Other large economies - Brazil, Russia and South Africa - are already in trouble. China's downturn will affect emerging markets - their exports and commodity prices.

What can we do to sustain in global recession.

1. Produce and sell good quality products by adding value. People will buy the products if they are useful.

2. Stay away from easy money making schemes. They do more harm than good. Invest your resources sensibly as most easy money making schemes have a catch whereby one tends to lose rather than gain.

3. If you are in business, keep your customers. Don't let them go. Give discounts to loyal customers if you have to. It is difficult to find new customers during recession. So keep the old ones.

4. If one loses his job, do what it takes to find a new one: headhunting, relocating or enhancing ones skills by taking up a course. You may temporarily have to settle for a lower paying job or a job less appealing. But something is better than nothing.

5. Reduce spending and save. Avoid going to costly restaurants, resorts and expensive vacations, instead go for family picnics to nearby places. It's important to spend time and enjoy with family but that need not mean spending too much.

6. New business ideas requiring lots of investment and risk can be put on hold. Instead try something that will fetch good returns quickly. Ambitious and challenging ideas need time to be put into practice so go for simple lucrative businesses.

7. Reduce the prices of your products. Recession reduces the buying capacity of most people. So giving discounts and being competitive will keep you going.

8. Find newer ways of reaching out to customers. Go for home delivery of products. As making shopping convenient for customers will attract them.

9. Those investing in stocks should go long. Recession is a good time to buy stocks if you can lock your funds for a long time.

10. Use new ways of attracting more customers. You could do so by advertising more aggressively.

Don't panic during recession. It can actually be a boon to those who sensibly use their funds and tactfully face the competition.

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