By Quentin Fottrell, MarketWatch
The crisis over unsafe tap water in Toledo, Ohio impacted roughly half a million people in recent days. Notwithstanding such scares, experts say tap water is just as clean and healthy as bottled water.
The water scare in Toledo made national headlines. On Monday, Michael Collins, the mayor of Toledo, lifted a two-day restriction on drinking tap water after officials there found high levels of a possible toxin from a continuing algal bloom in Lake Erie. Not all residents had to pay for bottled water: The Ohio National Guard distributed bottled water to residents as officials the U.S. Environmental Protection Agency did further testing. Also see: Mayor of Toledo, Ohio, says water is now safe to drink .
Scares over possible water contamination have helped boost demand for bottled water over the last few decades, experts say, but people are often times drinking the same water that comes out of the tap. “The general public thinks bottled water is going to be safer and cleaner than tap water,” says Mae Wu, attorney in the health program at National Resources Defense Council, a nonprofit environmental advocacy group based in Washington, D.C. “For the most part, that’s not true.”
full article at source: http://www.cbsmarketwatch.com
Euro-zone jobless rate hit record highs … The number of people out of work in the euro zone climbed further in August reaching a fresh record high, underscoring the hardship that the currency area’s fiscal crisis is inflicting on households, and suggesting any economic recovery is some way off. Eurostat, the European Union‘s official statistics agency, said Monday that 18.196 million people were without jobs in August, an increase of 34,000 from the previous month and the highest total since records for the 17 nations that use the euro were first compiled in January 1995. – MarketWatch
Dominant Social Theme: Capitalism provides us with terrible consequences.
Free-Market Analysis: It is really sad to watch what’s going on in Europe. One can almost imagine reading the history books about this period and getting a completely different picture of what is going on than the reality that should be evident to anyone who has lived through this time.
Appearances are important! Those who follow free-market economics know what needs to be done to pull Europe out of its slump. But the reporting gives no clue of the reality.
With a grim mercilessness, the mainstream press – controlled by the power elite that has evidently and obviously created this mess – tallies the damages and makes sure everyone knows how horrible its………………………………
full article at source:http://www.thedailybell.com/4372/Controlled-Demolition-of-Europe-Continues
English: Various Euro bills. (Photo credit: Wikipedia)
By Matthew Lynn
LONDON (MarketWatch) — The most pressing question about the euro crisis is also the hardest one for anyone to answer. It is easy to analyze why the single currency has gone so badly off the rails, pick apart the flaws in its construction, and identify the mistakes made in the endless bailout packages. But how will the saga eventually resolve itself?
No one can know for sure. There are so many actors on the stage and so many conflicting ambitions and pressures on each of them that every prediction has to be hedged with uncertainty.But here’s how it might come to a head over the summer: a “Spanic,’ followed by a “Quitaly,” followed by a “Fixit.” A fresh panic in Spain, might be followed by rising demands for Italy to quit if it doesn’t get the same terms its Mediterranean neighbor has been offered, followed by a Finnish departure from the euro
full article at source: http://www.marketwatch.com/story/how-tiny-finland-could-bring-euro-crisis-to-end-2012-06-13?link=MW_popular
NEW CANAAN, Conn. (MarketWatch) — Lots of little things seem to be contributing to the strength of the market, but there does also seem to be a belief that Germany finally “gets it.”
Germany is finally going to relent on their demands for austerity. Read Minyanville’s “Spain: Too Big to Fail and Too Big to Save.”
Programs that are providing money today that is quickly re-circulated into the economy because it is paying for people to live, should not be cut — that is bad austerity.
Raising taxes in general is probably bad austerity, but what about actually collecting taxes on all those who have avoided paying what they owe? Plans to reduce long-term benefits must go forward — minimal current cost to the economy, but necessary for any long-term solution. So while “austerity” hasn’t worked, it is not all bad, and some forms need to be maintained to have any hope that the situation can be turned around in the future.
The second, and more important question is: Why does any sane person think spending for growth will work? Just pause for one moment. How were these massive deficits built up? Was all the spending frivolous? I don’t think so. A lot of spending was meant to target growth in certain areas. It is just very difficult to achieve
Full article at source: http://www.marketwatch.com/story/the-day-austerity-died-2012-04-25?link=MW_story_popular
Jean-Marie Le Pen, French politician) (Photo credit: Wikipedia)
By David Marsh, MarketWatch
LONDON (MarketWatch) — In the wake of the first round of the French presidential election, a leaked document from Berlin, conveniently and somewhat revealingly translated into English, has found its way into MarketWatch’s hands.
Memo to Chancellor
Bundeskanzleramt, Berlin, 23 April 2012
From [ ] NAME BLACKED OUT
Esteemed Bundeskanzlerin, I am sorry. The results of the first round do not look good. I have to tell you that French elections traditionally propel change in the Franco-German monetary alignment. One of the reasons for monetary union in Europe was, as you may recall, to free us from the old style of doing things. But France is an old nation, and old patterns die hard. The French seem to be becoming more French, just as we are growing more German. So I would get ready, distinguished lady, for another change now.
Read our full coverage of the French election.