economy

(quote)

Many Africans spend 4-hours per day walking, or 1/4 of their income paying for transport. A bike can save this every day, helping to break the poverty trap.

Wooden bikes are fairly common in Rwanda and they’re used pretty much daily for transportation of goods and people. Tom Ritchey got the bright idea that the bikes should be raced as well and now the annual Wooden Bike Classic draws curious tourists from around the world for a chance to watch (and even participate).

The goals of Project Rwanda are pretty simple and they all come back to cycling: building awareness for the country (through events like the Wooden Bike Classic), specialized bike design (real steel bikes for transporting coffee crops), bike distribution, and national pride (through support of the Rwandan National Cycling Team).

 read more »

(quote)

WHISTLER, B.C. - Vancouver 2010 Olympic organizers are considering canceling the evening award ceremonies and giving the medals out at sport venues to save money.

Gary Lunn, the minister of state for sport, said that in tough economic times the Vancouver Organizing Committee has to look at its bottom line.

"They are looking at all of their options and that is the right thing to do in today's economic climate . . . They have to prepare for the unknown," he said.

But Whistler Mayor Ken Melamed said residents do not support the cancellation.

"We know there are challenges but this would be a huge blow to Whistler," he said.

Whistler is planning to throw a $18.5-million party, slated to run 24 hours a day for the duration of the Olympics, which will include concerts, shows and celebrations.

The party will be held at Whistler Village and at the Celebration Plaza Olympic venue, the construction of which is due to be completed in September.  read more »

“Development” or destruction of the planet? The value of a standing forest could be more than the value of a forest burned and logged in the name of development. How many more trees would be cut, forests burned down in the name of development in days not far behind us, and time ahead?

(quote)

RIO DE JANEIRO — Twenty years ago, a Brazilian environmental activist and rubber tapper was shot to death at his home in Acre State by ranchers opposed to his efforts to save the Amazon rain forest. After his death at age 44, Francisco Alves Mendes, better known as Chico, became a martyr for a concept that is only now gaining mainstream support here: that the value of a standing forest could be more than the value of a forest burned and logged in the name of development.

This month, Brazil took what environmentalists hope will be a big step forward in realizing Mr. Mendes’s vision. The government of President Luiz Inácio Lula da Silva introduced ambitious targets for reducing deforestation and carbon dioxide emissions in a nation that is one of the world’s top emitters of this heat-trapping gas.

 read more »

Images courtesy of John Klossner, Mike Peters / Dayton Daily News / King Features Syndicate, P.C. Vey, humor-in-photos-and-pictures.blogspot.com, Nick Anderson / Houston Chronicle, Hajo / CWS, and Riber / Cagle Cartoons

(quote)

CEO -- Chief Embezzlement Officer.

CFO -- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the
market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets
equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought
Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.

(unquote)  read more »

“Bailout” fever runs beyond the US, to affect Europe, to affect Asia… Market economy and private ownership - upon such economy systems democracy stands. The bailout tosses out dumb questions - don’t bailouts challenge the fundamentals of market economy? Impact on the ownership of the very top firms, the key performers in world’s major economies? Should market economy adjust itself or can it be rescued by bailouts? How many trillions would be enough in a global financial crisis? Who should not be bailed out?

(quote)

Has anyone bothered to ask: Why $700 billion? Why not $800 billion to bail out the economy? Or a trillion? Jeez, as long as the dam has burst, why not make it a cool $7 trillion?

Okay, $7 trillion it is, and if you think that's an exaggeration, you're wrong. In this year alone, we have committed an amount that is more than half of our entire annual gross national product to assorted bailouts and guarantees. No, that doesn't mean that we have diverted half our GNP for bailouts; it means that we have created half our gross national product virtually out of nothing.

 read more »