Debt Deal - Obama Accused of ‘Surrender’ as Debt Vote Looms - CNBC
American Default is sure
The concept of capitalism is spending beyond means by borrowing on assuming future flows, when it does not happen then defaulting, going to bankruptcy. This is what exactly many individuals are doing. Peoples are being lured into spending beyond their means. American in general are deep into debts apart from government debt.
The Biggest Types of Personal Debt
In today’s economy, massive consumer debt has crippled the personal balance sheets of individuals around the country, making a tough economy even tougher. With foreclosures on the rise and many Americans crippled by over-extended credit cards, personal debt is becoming a major player in the economic crisis. Payday Advances - $40 billion
A payday advance is a small, unsecured short-term loan, normally between $100-$500 with typical interest rates between 15-20 percent and maturities of about 14 days. However, because of the short term of maturities, APR for payday loans can be anywhere between 400 and 700 percent and, if not immediately paid in full, individuals can get themselves into serious financial trouble.
Small Business Loans - $68 billion
SBA Loans Oustanding (As of 2/28/09) 7(a) – 317,358 loans, $45.93 billion 504: - 52,217 loans, $22.08 billion
Farm Loans - $114.2 billion
Auto Loan Debt – $313.8 billion
Tax Debt Owed to IRS - $345 billion
Student Loan Debt Outstanding - $556 billion
Revolving Home Equity Credit - $577.8 billion
Revolving Consumer Credit Outstanding - $953.1 billion
Major Holders (in billions) Pools of securitized assets: $440.3* Commercial Banks: $382.0 Finance Companies: $55.8 Savings Institutions: $39.0 Credit Unions: $32.2 Non-Finance Businesses: $3.8 Residential Mortgage Debt Outstanding: $14.64 trillion
Breakdown of Total Outstanding Mortgages: One- to four- family residences: $11.03 trillion Nonfarm, nonresidential: $2.59 trillion Multifamily residences: $895.79 billion Farm: $111.15 billion
Biggest Holders of US Gov't Debt
This borrowing adds to the national debt, which has recently surpassed the $14 trillion mark and is rising every day. The amount of debt is quickly approaching the federal debt ceiling, a legal limit to borrowing which currently stands at $14.294 trillion. Much of that debt is held by private sector, but about 40 percent is held by public entities, including parts of the government. Here's who owns the most.
15. Canada
For the first time in recent history, Canada's holdings of US debt has broken into the top 15, surpassing Taiwan by about $3.6 billion in November 2010.
14. Hong Kong
US debt holdings: $138.9 billion
13. Caribbean Banking Centers
US debt holdings: $146.3 billion
12. Brazil
US debt holdings: $184.4 billion
11. Oil Exporters
US debt holdings: $210.4 billion Included in the group of oil exporters are Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria.
10. Insurance Companies
US debt holdings: $261.8 billion 9. Depository Institutions
US debt holdings: $269.8 billion
7. (Tied) United Kingdom
US debt holdings: $511.8 billion
7. (Tied) State and Local Governments
US debt holdings: $511.8 billion
6. Mutual Funds
US debt holdings: $637.7 billion
5. Pension Funds
US debt holdings: $706.4 billion
4. Japan
US debt holdings: $877.2 billion
3. China
US debt holdings: $895.6 billion
2. Other Investors/Savings Bonds
US debt holdings $1.458 trillion
1. Federal Reserve and Intragovernmental Holdings
US debt holdings: $5.351 trillion About a decade ago, the total government holdings were "only" $2.5 trillion.
Showing posts with label congress singur. Show all posts
Showing posts with label congress singur. Show all posts
Monday, August 1, 2011
Sunday, June 26, 2011
Didi Ka Band Baja
LAND ISSUES LEAVE TRINAMOOL IN A FIX
Didi Ka Band Baja ( Sisters Band)
Da Ki Roshanai ( Brothers Lighting)
Diggiraja ki Dance Party ( Diggi's Dance Party)
Yuraj Ka hai Rajyabhishek
Amma, Bahanji Tum bhi Aana
Nyota Tumhe Hamane Diya
Tumhare Bagair Rajyabhishe Hai Adhoora
Agali Bar Mil Ke Ladenge
These are my lines for Indian Political Scene. This is difficult for other to understand written with local dialects and meaning.
Land struggle — a Pandora ’sbox the Mamata Banerjee-led Trinamool Congress (TMC) opened while in the Opposition — has landed the party in a fix, with TMC now on the ruling side.
After the state assembly passed the Singur Land Rehabilitation and Development Bill, 2011, last week, there are demands from unwilling farmers for returning their land, acquired in projects such as Burdwan health city, Siliguri satellite township and the NTPC power plant at Katwa. Kick-started by the TMC, the land agitations at these sites are taking a new turn now.
Soon after the Bill was passed in the assembly, agitators stalled work at Burdwan health city site, causing trouble for the authority. The health city is being developed in a publicprivate partnership by the Burdwan Development Authority and the Bengal Faith Health Care (BFHC), a special purpose vehicle promoted by CES Infratech and Faith Health Care, aCES group company.
“On May 14, about 300-400 people rushed to our project site and stopped work completely. Some 70-80 farmers were unwilling to give their land and, reportedly, they even rejected the cheques, but no major agitation had happened till the government ’sdecision. Now, we have been thrown out of the site. Even the outpatient unit, operational with four specialist doctors, is not being allowed to work,” said a BFHC official. The company was planning to start full operations from October this year. However, the plans seem to have been derailed by “Banerjee ’sSingur Bill”.
According to reports, about 84 farmers had turned down cheques issued in exchange for 23 acres of the land acquired in 2005 for the project in Goda. For the `1,200-crore project, 57 acres of land was acquired from more than 350 owners and BFHC has already invested `50 crore. The TMC, which went on adamage-control mode, sent Rabiranjan Chatterjee, technical education minister, to the site to speak to the unwilling farmers.
“He came up with some suggestions, including returning the land and demanding more compensation. In the wake of all this, only time can prove what will happen to the project,” the official said.
All is also not well at the proposed satellite township in the Kawakhali-Porajhar area in Siliguri, where acquisition of 320 acres of land started in 2004. The protests were spearheaded by Congress leader and member of parliament from Raniganj, along with the TMC and the Revolutionary Socialist Party.
“We have given compensation and allotted 800-odd plots to those losing their land. There were some people who were unwilling to part with their land and are protesting to have it back. The matter is with the court now,” said D K Roy, assistant town planner of Siliguri Jalpaiguri Development Authority, which is planning the project.
Meanwhile, TMC itself was planning a Singur re-run at the Katwa power plant site, where top leaders like Saugata Ray, Purnendu Bose and Sovan Chatterjee paid a visit. The unwillingness to acquire land from those unwilling to sell seems to be a hindrance for this `9,600crore project for a 1,600-mega watt NTPC plant. The public sector undertaking had taken over the Katwa project from the West Bengal Power Development Corporation Ltd, which had acquired 387 of the 1,035 acres required for the project last year.
According to sources, Banerjee, who heads the power ministry herself, will not allow acquiring more than 600 acres of land. “There needs to be some openeness from the government for the project to continue,” complained a top NTPC official.
On the other hand, Saugata Ray, a member of parliament who once headed the campaign through the Save Farmland Committee, said, “A lot will depend on the ground situation. People in Katwa never wanted further acquisition of land.” In Katwa, 1,033 acres of land belong to 4,600 farmers and not many were willing to give their land even for the first phase of the project. Matters have worsened after the Singur Bill.
However, for the TMC, it seems a ghost from the past has started to haunt them now.
After the Singur Land Rehabilitation and Development Bill, 2011 was passed, there have been demands from unwilling farmers for the return of their land acquired for projects across the state
Didi Ka Band Baja ( Sisters Band)
Da Ki Roshanai ( Brothers Lighting)
Diggiraja ki Dance Party ( Diggi's Dance Party)
Yuraj Ka hai Rajyabhishek
Amma, Bahanji Tum bhi Aana
Nyota Tumhe Hamane Diya
Tumhare Bagair Rajyabhishe Hai Adhoora
Agali Bar Mil Ke Ladenge
These are my lines for Indian Political Scene. This is difficult for other to understand written with local dialects and meaning.
Land struggle — a Pandora ’sbox the Mamata Banerjee-led Trinamool Congress (TMC) opened while in the Opposition — has landed the party in a fix, with TMC now on the ruling side.
After the state assembly passed the Singur Land Rehabilitation and Development Bill, 2011, last week, there are demands from unwilling farmers for returning their land, acquired in projects such as Burdwan health city, Siliguri satellite township and the NTPC power plant at Katwa. Kick-started by the TMC, the land agitations at these sites are taking a new turn now.
Soon after the Bill was passed in the assembly, agitators stalled work at Burdwan health city site, causing trouble for the authority. The health city is being developed in a publicprivate partnership by the Burdwan Development Authority and the Bengal Faith Health Care (BFHC), a special purpose vehicle promoted by CES Infratech and Faith Health Care, aCES group company.
“On May 14, about 300-400 people rushed to our project site and stopped work completely. Some 70-80 farmers were unwilling to give their land and, reportedly, they even rejected the cheques, but no major agitation had happened till the government ’sdecision. Now, we have been thrown out of the site. Even the outpatient unit, operational with four specialist doctors, is not being allowed to work,” said a BFHC official. The company was planning to start full operations from October this year. However, the plans seem to have been derailed by “Banerjee ’sSingur Bill”.
According to reports, about 84 farmers had turned down cheques issued in exchange for 23 acres of the land acquired in 2005 for the project in Goda. For the `1,200-crore project, 57 acres of land was acquired from more than 350 owners and BFHC has already invested `50 crore. The TMC, which went on adamage-control mode, sent Rabiranjan Chatterjee, technical education minister, to the site to speak to the unwilling farmers.
“He came up with some suggestions, including returning the land and demanding more compensation. In the wake of all this, only time can prove what will happen to the project,” the official said.
All is also not well at the proposed satellite township in the Kawakhali-Porajhar area in Siliguri, where acquisition of 320 acres of land started in 2004. The protests were spearheaded by Congress leader and member of parliament from Raniganj, along with the TMC and the Revolutionary Socialist Party.
“We have given compensation and allotted 800-odd plots to those losing their land. There were some people who were unwilling to part with their land and are protesting to have it back. The matter is with the court now,” said D K Roy, assistant town planner of Siliguri Jalpaiguri Development Authority, which is planning the project.
Meanwhile, TMC itself was planning a Singur re-run at the Katwa power plant site, where top leaders like Saugata Ray, Purnendu Bose and Sovan Chatterjee paid a visit. The unwillingness to acquire land from those unwilling to sell seems to be a hindrance for this `9,600crore project for a 1,600-mega watt NTPC plant. The public sector undertaking had taken over the Katwa project from the West Bengal Power Development Corporation Ltd, which had acquired 387 of the 1,035 acres required for the project last year.
According to sources, Banerjee, who heads the power ministry herself, will not allow acquiring more than 600 acres of land. “There needs to be some openeness from the government for the project to continue,” complained a top NTPC official.
On the other hand, Saugata Ray, a member of parliament who once headed the campaign through the Save Farmland Committee, said, “A lot will depend on the ground situation. People in Katwa never wanted further acquisition of land.” In Katwa, 1,033 acres of land belong to 4,600 farmers and not many were willing to give their land even for the first phase of the project. Matters have worsened after the Singur Bill.
However, for the TMC, it seems a ghost from the past has started to haunt them now.
After the Singur Land Rehabilitation and Development Bill, 2011 was passed, there have been demands from unwilling farmers for the return of their land acquired for projects across the state
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