What do you think about a world with no money? A works where everyone that works is provided for. #WorldChange

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That is an intriguing proposition. In Star Trek there seems to be no reference of currency or money so it seems that people who work are provided for. I am not sure it would work in reality. Capitalism is too much a part of the fabric of life in our world that some would revolt if such an idea were proposed to live without money. Economic systems would have to be completely changed to make it work. There are many details that would have to be worked out and allow the people to adopt or reject such a paradigm.

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President Barack Obama Will Be in the Scenic City Tuesday; Visit Amazon Fulfillment Center – WDEF News 12

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President Obama will fly on Tuesday to Chattanooga, where he’ll visit an Amazon fulfillment center, which packs and ships products to online purchasers.

President Barack Obama Will Be in the Scenic City Tuesday; Visit Amazon Fulfillment Center – WDEF News 12

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thedailyfeed:

More Americans lived in poverty in 2010 than in any other time that records have been collected, according to US Census data released yesterday. Median household income fell, too, and a growing number of people are without health insurance. 

An additional 2.6 million people became officially poor last year, raising the poverty rate from 14.3 percent in 2009 to 15.1 percent. It was the fourth year in a row that the ranks of the poor grew, and Sawhill predicts poverty rates will rise to 16 percent by 2014.

Dow Falls More than 600 Points in Worst Day Since 2008

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abcnewsradio:

(NEW YORK) — The Dow Jones Industrial Average fell over 600 points Monday after a one-two punch: the first-ever Standard & Poor’s downgrade of U.S. debt, then the downgrading of government-backed mortgage debt. The Dow’s one-day drop of more than 600 points was its biggest point loss in a single day since December 1, 2008.

In closing figures, the Dow Jones Industrial Average sank 634.76 points at 10,809.

The Standard & Poor’s 500 stock index tumbled 78 points, or 6.5 percent, to 1123, with financial and energy stocks falling hardest.

Monday’s nose-dive came on the heels of President Obama’s proclamation that the United States knew well before the S&P downgrade that it had a debt problem. 

“The U.S. will always be a triple-A country despite what rating agencies say,” he said.

The good news, he said, is the debt is a “solvable” problem that can be addressed through tax reform and spending cuts.

Investors don’t seem to agree. The Dow plunged another 100 points to hover around 500 after the president’s speech.

As stocks reeled, gold surged by $68 to a record $1,720 an ounce.

Investors were hoping for some sign that the steep market selloff of the last three weeks would abate. Those hopes were dashed when S&P announced the downgrade of the mortgage debt agencies, which are now owned by the U.S. government following their takeover in the 2007 financial crisis. Lower ratings on U.S. bonds and mortgage debt could mean higher interest rates, creating still more drag on the faltering U.S. economy.

Though government officials sought to find fault with S&P’s assessment, pointing out that the agency had made a $2 trillion error in its math, others say rampant government spending led to the downgrade.

“If we were running our affairs properly we wouldn’t have to worry about S&P, Moody’s and Fitch…,” Paul O’Neill, Treasury secretary in the Bush administration, told ABC News.

Since the late Friday announcement of S&P’s downgrade of the U.S. credit rating there were efforts across the world to calm markets. All weekend the White House has been fighting in some very strong language, calling the move “amateurish” and “breathtaking.”

A managing director at Standard & Poor’s told George Stephanopoulos on Good Morning America Monday that he has no second thoughts about the decision to cut the U.S. debt rating.

With global stocks sinking early Monday, S&P’s David Beers said the agency’s decision was based on factors including damage done to the U.S. reputation over the controversy surrounding the debt ceiling and concerns that underlying public finances are on an unsustainable path.

Asked if he had any second thoughts about the downgrade, Beers replied, “absolutely not.”

Dow Falls More than 600 Points in Worst Day Since 2008