Weather leads to 'hesitant' start for Scottish economy

• sector: an area of the economy where businesses share the same or related product or service
• trends: the general course of prevailing tendency, drift
• retail: the sale of goods to ultimate consumers

In Scotland economists are blaming poorer than usual economic trends on the severe winter along with an uncertainty in the upcoming election. Only 26% of businesses are hiring. However Scotland still has the best employment rates in the UK. Now that spring is approaching optimism is in sight but the overall economy is still weak. More than half of retailers are reporting a decline in sales for 2010. This has affected many sectors of Scottish society. Now that spring is approaching many Scottish are hoping that the economy will take an upward turn and are really depending on it. Many have confidence that this will happen.

The cold weather affected the economy because there was no confidence during that frigid winter weather. I think it is utterly ridiculous to blame poor economy flow on weather, but it almost makes sense. I predict that Scotland will see brighter days soon because people need new stuff for the new season.

Economy Puts Squeeze On Education Promises by: Larry Abramson

• pink slip: an American term that refers to being fired or laid off from one's job
• mandate: a command or authorization to act in a particular way on a public issue given by the electorate to its representative
• truancy: the act or condition from being absent without permission (ditching school)

State budgets all across the nation are experiencing problems in their budget. This is causing states to take drastic measures with the education budget. In California alone 22,000 teachers received pink slips. Even though many districts try to prevent this by cutting down on bottled water, not buying new text books, making class sizes bigger, and all teachers taking a pay cut it still is an issue. In California unnecessary mandates are costing the state $400 million. For example the truancy notification requirement. The Governor is considering suspending these mandates to get schools through this very tough school year. In Florida schools are losing a lot of money because an amendment was passed to the state constitution that puts a limit on class size and requires for a new teacher to be hired. Other states have to cut down on scholarship programs. Education and schools are receiving budget cuts because states can't think of other ways to save money. States feel that some on the things in the budget cut are unnecessary so they take those things out, but the difference is not too great so they are forced to cut on things that are helpful.

I really don't think that education budgets are going to get better anytime soon. We are experiencing too many economic hardships at the moment and the advocating to save education is not being heard. I don't think this problem will be solved until the year 2017.

Low Rates Keep Savers Suffering For Borrowers' Boon by Marilyn Geewax

• Federal Reserve Chairman: is the head of the central banking system of the United States.The chairman is the "active executive officer of the Board of Governors of the Federal Reserve System.
• Certificates of Deposit: or CD is a time deposit, a financial product commonly offered to consumers by banks, thrift institutions, and credit unions.
• credit markets: also known as the debt, fixed income, or bond market is a financial market where participants buy and sell debt securities, usually in the form of bonds

This article is explaining why interest rates are so low. And that is because since the financial crisis hit in 2008 the credit markets froze up leading the federal reserve to significantly lower interest, in order to bolster the economy. This was especially intended to help in the department of housing sales. Providing lenders with a low pay back rate. Unfortunately this plan does present a downside. Savers who are purchasing CD's. They are current earning an average of 1.5% interest, or 3% interest on an investment of 5 years. This is causing investors to feel cheated. However the author of this article predicts that interest rates will jump up next year.

I predict that interest rates aren't going to rise enough next year for investors to be pleased. Also I think that the stock market is going to begin to gain a lot more activity from all these investors who are unhappy with the productivity of their money in the credit market.

Sole entity to oversee Iraq reconstruction urged

• entity: an organization or person that possesses a separate existence for tax purposes. An example of an entity would be a corporation, partnership, or trust


• Marshall Plan: was the primary plan for the United States for building and creating a stronger foundation for the allied countries of Europe and repelling communism after World War II.


• Contingency Operations: by definition the complex contingency operations involve a number of USG departments and agencies.

The U.S. Office for Contingency Operations wants to begin a sole entity for the process of rebuilding Iraq and Afghanistan. This entity would have to be established by Congress. In this project fraud and a waste of taxpayer's dollar have been experienced. The U.S. has already given $53 billion the most in this kind of effort since the Marshall Plan. This much money has been put in and wasted into Iraq because they are unable to keep the newer buildings up, and afford them. Also the Iraqis are ungrateful and complain that U.S. effort isn't producing much of a healthy difference. We also did not have the proper means to begin this project in the first place.

I think that we should leave Iraq alone and let them deal with themselves, and let those who really want help into the states. I don't think this plan is going to be approved and we are going to continue to waste time, effort, and money into Iraq and Afghanistan

As Nations Meet, Clinton Urges Yemen to Prove Itself Worthy of Aid

• foreign aid: aid (such as economic or military assisitance) provided to one nation by another
• International Monetary Fund: special UN agency that was founded in 1944 to stabalize exchange rates and to facilitate international commerce and to provide monetary aid to countries suffering economic hardship, IMF
• United Nations: international orginization founded in 1945 to promote peace and security and international cooperation and promote humanitarinaism

Secretary of State Mrs.Clinton is telling Yemen what they need to do in order to receive foreign aid from the U.S. and other countries. Among these things are providing a concrete plan for what will be done with the aid, more rights for women, less cooperation with the Taliban, and enact it's own 10 point reform plan. The U.S. has recently given Yemen some supplies to fight off a proposed attack from the Taliban.

link:

Yemen is in this position because though they are a country in need an other countries are willing to help, their government along with other higher powers seem to be in alliance with the Al Qaeda and Taliban. This is another third world country with a corrupt government.

I personally think that Yemen is going to receive the aid it is asking for now, but in the future prove to be unproductive with its aid,and therefore receive no more foreign aid until it completely removes itself from the Al Qaeda and Taliban.

Facing Budget Gap, Colorado City Shuts Off Lights

• National League of Cities: is the oldest and largest organization in the United States with the mission to strengthen and promote cities as centers of opportunity, leadership and governance. The National League of Cities acts as a resource and advocate for 19,000 cities, towns, and villages and represents more than 218 million Americans, including 49 state municipal leagues.
• revenue: income, return, gains; government income earned through taxation; government agency that collects tax monies; source of income
• private sector: The part of an economy in which goods and services are produced and distributed by individuals and organizations that are not part of the government or state bureaucracy.

Colorado Springs, CO is making some drastic budget cuts due to the very poor local economy. For example the city is flipping the switch on about 1/3 of the city's 24,512 streetlights is expected to save $1.245 million in electricity. But that's just a down payment on a $28 million budget gap for 2010. It is also cutting the budget on police and fire departments, and parks by removing all trash cans. They are also getting rid of restrooms, and some public transportation.

The citizens think this is occurring because city workers are being overpaid, and that is why the budget gap reached $28 million. It may also be a result of some people leaving the city once their lease is up. In the end this can only be blamed on poor management and lack of funds in the city. Many feel that too much is being left to the private sector, and that the city wants more from them and that is why they are taking such public drastic budget cuts

I don't think the economy of Colorado Springs is going to change anytime soon. Two many people are leaving the problem for someone else. I also feel that the poorer ares of the city will be the ones who really are going to be hurt by the budget cuts. I also think there is going to be a major increase in the crime rate. I don't think too many more drastic measures are going to be made public because it will cause unwanted controversy.

http://www.npr.org/templates/story/story.php?storyId=123691065

"Auatralia in Suprise Interest Rate Freeze"

Although a large increase was expected the rate of the Astralian dollar halted at 0.88. Though this can be thought of as a bad thing the treasurer welcomed it saying "Families will welcome this decision and businesses will welcome this decision,". This happened because the RBA didn't do it's planning and that is what the Australian government wants becuse in the end they still believe the ratewill reach 4.75% by the end of the year. I think that the interest rate of the Australian dollar will excede 4.75% by the end of the year.

Key Terms

• RBA: Reserve Bank of Australia
• interest rate: rate of the money that is paid for a financial service (loan, etc.)
• monetary policy: policy of a country or central bank in regards to money, amount of involvement which a government has on the market activity by influencing the level of export

http://news.bbc.co.uk/2/hi/business/8492636.stm