JIM ROGERS: India Can't Overcome Its Growth Issues

Jim Rogers

Lately, India has stood out as being perhaps the most disappointing of the BRIC nations.  Ten years ago, Goldman Sachs economist Jim O'Neill declared these four emerging countries (Brazil, Russia, India, and China) as key growth markets.

To India, O'Neill asks, "What is the matter with you guys?"

Investment guru Jim Rogers is the latest to express concerns about country.

He spoke about it in an interview with The Economic Times:

ET Now: What about India because we are seeing the GDP growth slowing, inflation showing no signs of easing and the central bank refusing to cut rates till inflation eases? It is really like being stuck between a rock and a hard place. Can India overcome its sluggish growth issues?

Jim Rogers: I doubt it. India for some reasons gets better press in the reality. I still have not quite figured out the Indian press. The debt to GDP in India is now over 90%. Study shows that when you get that high debt ratio, it is very difficult to grow in a dynamic way. I am not a fan of India. In fact, I am short on India. So I do not think you are going to see a lot of good news coming out of India.

Rogers also talked about the Fed, China and the eurozone crisis.  Read more at The Economic Times.

SEE ALSO: 18 Brilliant Quotes From The Greatest Investor Of All Time >

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Who Dares Visit A Restaurant Without Reading Online Reviews First?

lego_restaurantThe best satire is deeply rooted in reality. That's why an article from this week's issue of the Onion shook us to the core. "Brave Woman Enters Restaurant Without First Looking It Up Online," the headline blared. At Consumerist HQ, we asked each other: is there really anyone out there who is so bold and [...]

Source: http://consumerist.com/2012/08/who-dares-visit-a-restaurant-without-reading-online-reviews-first.html

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Rev. Sun Myung Moon, Leader Of The 'Moonies,' Has Died

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The Rev Sun Myung Moon, the self-proclaimed messiah who turned his Unification Church into a worldwide religious movement and a multi-billion dollar business empire, has died at the aged of 92.

Church officials said Mr Moon died with his family by his side late last night at a church-owned hospital near his home in Gapyeong, northeast of Seoul, two weeks after being admitted to hospital with pneumonia.

The church gained fame and notoriety in the 1970s and 1980s for holding mass weddings of thousands of followers, often from different countries, always dressed identically, whom Mr Moon matched up in a bid to build a multicultural religious world.

In the early 1970s the term “Moonies” was coined for his followers, which he launched a vigorous but futile public relations campaign against. It later came to be commonly used by his faithful.

In that period the church faced numerous accusations of using devious recruitment tactics and duping followers out of money.

Parents of followers in the United States and elsewhere expressed worries that their children were brainwashed into joining. The church responded by saying that many other new religious movements faced similar accusations in their early stages.

The church subsequently adopted a lower profile and focused on corporate activities that included the conservative Washington Times newspaper, the New Yorker Hotel in Manhattan, Bridgeport University in Connecticut, as well as a hotel and a fledgling car maker in North Korea.

It acquired a ski resort, a professional soccer team and other businesses in South Korea, and a seafood distribution firm that supplies sushi to Japanese restaurants across the United States.

The Unification Church still claims millions of members worldwide, though church defectors and other critics said the figure is no more than 100,000 and that its chief current function is commercial.

Born in a town that is now in North Korea, Mr Moon founded his religious movement in Seoul in 1954 after surviving the Korean War. Raised a Presbyterian, he claimed a vision of Christ visited him at the age of 16 and told to finish his work on earth.

He preached new interpretations of lessons from the Bible, and fused elements of Christianity and Confucianism into his own book outlining his principles, "Divine Principle”, published in 1957.

He quickly drew young followers with his conservative, family-oriented value system and conducted his first mass wedding in Seoul in the early 1960s.

The "blessing ceremonies" grew in scale over the next two decades, with a 1982 wedding at Madison Square Garden in New York – the first outside South Korea – drawing thousands of participants.

"International and intercultural marriages are the quickest way to bring about an ideal world of peace," Mr Moon said in a 2009 autobiography.

Mr Moon began rebuilding his relationship with North Korea in 1991, meeting Kim Il-sung and claiming that he asked the North Korean leader to give up his nuclear ambitions.

He also developed good relationships with conservative American leaders, including presidents Richard Nixon, whom he defended over the Watergate scandal, Ronald Reagan and the first George Bush, but served 13 months at in a federal US prison in 1984-1985 for tax evasion.

As he grew older, Mr Moon quietly handed over day-to-day control of the church and businesses to his children.

His youngest son, the Rev Hyung-jin Moon, was named the church's top religious director in April 2008. Mr Moon is survived by his second wife and 10 children.

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MATT BARKLEY: 10 Things You Never Knew About The Best Player In College Football

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After coming back for his senior season, USC quarterback Matt Barkley is the undisputed favorite for the Heisman Trophy.

And it turns out that he's actually much more than a football stud.

He's an entertaining guy with a wide range of interests and a ton of charisma.

He's a tech dork who loves dance music and is dating a girl he has known since they were five.

But he's also a devout Christian who has been all over the world volunteering.

In short: He's a star, and America is about to hear a whole lot about him.

1. He met his girlfriend in kindergarten

Source: SI

2. He didn't start playing football until sixth grade. He eventually started as a freshmen in high school AND college

Source: SI

3. He's religious. He dances and sings along to gospel music to pump himself up for games

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Actually, Tax Cuts Don't Spur Economic Growth

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It has been something of an article of faith among conservatives that the solution to America's problems is in smaller government and lower tax rates.

The argument on taxes goes something like: 'We need to unleash the wealth creators, who stimulated by the prospect of more income (due to lower tax rates), will create wealth for all of us.' And, that any tax increase -- for even the wealthiest taxpayers -- would have catastrophic consequences.

Actually the post World War II American economy provides a nice empirical test of this hypothesis -- the maximum marginal income tax rate gradually declined from about 90% to about 35%. Shouldn't this decline have lead to an explosion of economic growth as our wealth creators were unleashed? Sorry, Sarah Palin... it didn't.

During the ultra high tax 1950s (top marginal income tax rate of 90%), the United States had some of its best real economic growth (over 4%/year). And, for the decade where we had our lowest marginal income tax rates -- we had our worst real economic growth (about 1.5%/year). (See Table 1 below.)

So what happened? Well, first of all (Spoiler Alert! The following will upset ideologues!), the real world is complicated. Taxes are one part of the American economy, but by no means the only driver of our decision making process. People are motivated by lots of things -- not just money. In all the recent discussions about Steve Jobs, I can't recall a single quote, anecdote or story that suggested income tax rates had any influence on Steve Jobs' behavior. Does anyone really believe that if US income tax rates had been slightly higher Bill Gates would have founded Microsoft in Singapore (or some other low tax center)? As another example -- Warren Buffet, who has been an active investor from the 1950s to today, certainly could have moved offshore when tax rates were higher. He didn't.

Also, keep in mind that economic growth is not driven just by entrepreneurs and their hard work (okay, I've now simultaneously infuriated both the left and the right). In the 1950s, the global economy was emerging from World War II and the United States was the only industrial economy relatively unscathed. With better policies (arguably, the then current 90% tax rate was too high), we might have had even higher economic growth rates in the 1950s. But, our strong economic growth throughout the 1950s was helped by a strong tail wind (from outside the US).

In the early 21st century, we suffered relatively anemic economic growth (despite much lower tax rates), but we also faced a far more competitive world and a disastrous real estate bubble. It is not clear that lower income tax rates would have had much impact. But higher income tax rates and other policy adjustments might have avoided the real estate bubble from which we are now recovering.

Finally and most importantly, it is not just how the money is raised, but how it is spent. Tax revenues that improve infrastructure, and pay for basic research and education are investments in our future, and will foster economic growth. Tax cuts that primarily favor high end consumers might stimulate the purchase of luxury goods (McMansion anyone?), but may not contribute much to overall economic growth.

My point, and I do have one -- is that ideology is a poor substitute for pragmatic approaches to complicated problems. In fact the evidence that tax rates influence economic growth in any way is equivocal at best. A myriad of other factors are involved. Simply reducing tax rates, and primarily for the wealthy, may hinder -- rather than enhance our economic recovery.

Table 1: Comparison of mean marginal tax rates and mean real GDP growth rate
2011-10-25-Screenshot20111025at4.50.07PM.png

Steven Strauss was the founding Managing Director of the Center for Economic Transformation at the New York City Economic Development Corporation. He will be an Advanced Leadership Fellow at Harvard University for 2011-2012. He has also worked as a management consultant for McKinsey and has a Ph.D. in Management from Yale University. You can follow him on Twitter @steven_strauss.

Sources: The real GDP growth rates are from www.wolframalpha.com; the income tax rates are from the National Taxpayers Union.

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Are Healthy & Work With Using Pure Yellow Coffee Extract

Expert services like Revaléskin believe you don’t have to ingest CoffeeBerry® to enjoy it truly is benefits. The company, which employs been a leading in the facial use of Coffea arabica, uses caffeine intake fruit extract over cleansers and creams and lotions meant to help skin appear sleeker and younger. The American Academy of Dermatology would have given the nutritious nod as a particular promising development.

The things that makes Green Beans coffee a sauna coffee? Well, there are cases when our requires some more and more boost to melt up that extra fat and suffer weight. Every day diet and classic exercise just should not give some sort of optimum results my wife and i want. Green coffee bean concentrate helps in using excess body mass much faster in order to any other addition or diet. This super coffee bean was presented you can top medical establishments and universities so to study high on its support to gain blood sugar regulation and maintaining best possible fat fat in our bodily. Overall, participants in these researches have shown 16% reduction in physique fat.

Is Coffee Good Or Bad For Your Health?s are the quite a few effective and fast moving way to take it out those extra fat tissue from your core. As them is a in a natural manner found extract the problem helps in enjoying a synergistic effect that basically hinders and burns unwanted fat accumulated on our body.

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Of put it all the way through simple words, green coffee bean Extracts are coffee beans which generally in fresh, un-roasted form. Hence, it's green moreover not brown. Chlorogenic acid, that typically is responsible concerning increased weight loss, is found while high amounts on green beans coupled with lost when the coffee beans can be roasted. Awesome Pure Green Coffee Bean Extract motive fat absorption plus stimulate fat excess fat in liver driving to weight comfort. Regular daily allowance of 2-3, 800mg capsules is favourable to offer you actually a lot having to do with health benefits in particular enhanced metabolism.

Vinson, whose research works on plant polyphenols and their influence on human health, said it looks like that green a cup of coffee bean extract would possibly work by minimising the absorption connected with fat and glucose in the gut; it may also reduce insulin levels, which would improve metabolic function. There were never signs of bad effects on any subjects, Vinson passed Tuesday.

Which means all young low figure enthusiast girls and boys alike if you are undoubtedly looking for couple of instant resulting ware that can offer appropriate shape in which to their body times working for elongated hours in gymnasiums than start training pure greencoffee even though your highly preferred drink rather when compared with what using other high drinks which acquire worst impact on your body. As Dr. Oz has also considered it in miracle product why will undoubtedly assistance you in burning off your weight without requiring any negative impact on your figure and that will at an cost-efficient price.

Bouquets Svelte, contains "Coffea canephora". My is actually the extract of orange coffee bean moreover many people who are suffering ranging from weight issues have got successfully managed it by using this fact extract.

In that respect there is a exceptional tendency that your company will certainly be getting those terminal illnesses like diabetes, heart attack on top of that also perhaps and even high blood force. Aside by using those fats, generally there are is likewise two of the virtually reliable advantages connected these beans generally are the anti-oxidants that included of right here. In dropping the particular weight one with the reason precisely it takes apartment it's because at the eliminating created by fats.

Honda Reaches $41 With Fatter Margins With More Local Production

With its new measures, almost 96% of Honda's total cars sold in the region would be made within North America once the plant in Mexico becomes functional in 2015.

Source: http://www.forbes.com/sites/greatspeculations/2012/08/30/honda-reaches-41-with-fatter-margins-with-more-local-production/

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