Can foreign tourists help US economy?

Agustina Ocampo is the kind of foreign traveler businesses salivate over.

The 22-year-old Argentine recently dropped more than $5,000 on food, hotels and clothes in Las Vegas during a trip that also took her to Seattle's Space Needle, Disneyland and the San Diego Zoo. But she doubts she will return soon.

"It is a little bit of a headache," said Ocampo, a student who waited months to find out whether her tourist visa application would be approved.

More than a decade after the federal government strengthened travel requirements after the Sept. 11, 2001, terrorist attacks, foreign visitors say getting a temporary visa remains a daunting and sometimes insurmountable hurdle.

  1. Don't miss these Travel stories

    1. World's coolest movie theaters

      Some new and classic theaters are luring customers with advanced technology, cool events and such gourmet treats as bacon-fat popcorn.

    2. Frightening frosting? TSA confiscates cupcake
    3. Southwest mix-up leaves 9-year-old stranded
    4. TSA unveils helpline for fliers with disabilities
    5. Great hotels that won't break the bank

The tourism industry hopes to change that with a campaign to persuade Congress to overhaul the State Department's tourist visa application process.

"After 9/11, we were all shaken and there was a real concern for security, and I still think that concern exists," said Jim Evans, a former hotel chain CEO heading a national effort to promote foreign travel to the U.S.

At the same time, he said, the U.S. needs "to be more cognizant of the importance of every single traveler."

Tourism leaders said the decline in foreign visitors over the past decade is costing American businesses and workers $859 billion in untapped revenue and at least half a million potential jobs at a time when the slowly recovering economy needs both.

While the State Department has beefed up tourist services in recent years, reducing wait times significantly for would-be visitors will likely be a challenge as officials try to balance terrorist threats and illegal immigration with tight budgets that limit hiring.

"Security is job one for us," said Edward Ramotowski, managing director of the department's visa services. "The reason we have a visa system is to enforce the immigration laws of the United States."

That said, the agency announced earlier this month that it would increase its staff in Brazil and China to speed up the process after seeing huge surges in visa applications from both countries during the 2011 fiscal year.

The State Department said in the Dec. 21 statement that while the agency "always puts security first, visitors to the United States make critical contributions to economic growth and job creation."

Anti-immigration proponents argue travel to the U.S. is already too accessible and that allowing more visitors would put the nation at greater risk.

"Everybody would like to find a way to admit as many people as possible to visit here providing that they visit and then go home," said Jessica Vaughan, director of policy studies at the Center for Immigration Studies, an anti-immigration group based in Washington, D.C.

"A lot of consular officers underestimate how much people want to come and live here," she said.

Nearly 7.6 million nonimmigrant visas were issued in 2001, compared with fewer than 6.5 million in 2010. The number of visa applicants also dropped sharply after 2001. Those combined forces pushed the U.S. share of global travelers down to 12 percent last year, from 17 percent before 2001.

The proposed immigration overhaul has largely been driven by the U.S. Travel Association, the tourism industry's lobbying giant, and has been endorsed by business titans such as the National Retail Federation, Four Seasons Hotels and Resorts, and Walt Disney Parks and Resorts. Republicans and Democrats in Congress are backing the proposed changes through six bills in the House and Senate.

Geoff Freeman, the travel association's chief operating officer, said the State Department should be required to keep visa interview wait times at a maximum of 10 days.

"Every day a person is waiting for that interview is a day a person cannot be here supporting the American economy," he said.

For most foreigners, taking a last-minute business or leisure trip to New York, Los Angeles, Miami or other U.S. travel hubs would be nearly impossible. The average wait time for a visa interview in Rio de Janeiro, for example, was 87 days, according to the State Department.

The Government Accountability Office, a nonpartisan agency that audits federal programs, concluded that wait times are likely much longer than reported because some department employees artificially reduce the wait times by not scheduling interviews during high-demand periods.

The vast majority of visitors enter through the country's visa waiver program, which allows travelers from 36 nations with good relationships with the U.S. to temporarily visit without a visa. Travel proponents want to add nations whose residents are unlikely to illegally move to the U.S., including Argentina, Brazil, Poland and Taiwan.

Tourists from the rest of the world, including India, China, Mexico and other nations with affluent travelers looking to use their passports, must obtain a nonimmigrant visa. The process can be expensive and time-consuming.

People living far from a visa processing center must arrange travel to the interview location, not knowing whether they will be approved. Roughly 78 percent of all tourist visas were approved so far in 2011.

Tourism proponents want the department to embrace videoconferencing as a way to interview more people quickly. The department has no plans to implement videoconferencing interviews because of safety and technological concerns, Ramotowski said.

In-person interviews weren't the norm before 9/11, when consular officials had the authority to approve travelers based on an application alone. Since then, however, screenings have become more strenuous, with fingerprint checks and facial recognition screening of photographs.

The State Department has made moves to boost its tourist services in recent years, transferring employees from underworked offices to bustling embassies and consular posts. Many visa processing centers are also operating under extended hours.

Other proposed changes include granting more multi-entry visas and charging premium fees to tourists who want a visa right away, similar to the premium passport fee charged to Americans with last-minute passport requests. The tourism industry also wants more visa processing officers and to allow travelers to submit applications in their native language.

"We can't afford to treat them in a way that gives them an impression that maybe they aren't welcome," said Rolf Lundberg, the U.S. Chamber of Commerce's top lobbyist.

To help make the U.S. appear more welcoming, Congress approved last year a $200 million annual marketing campaign.

In Las Vegas, where travelers to the Strip have traditionally kept Nevada's economy afloat, tourism and government leaders are desperate to keep businesses open and create jobs in a state with the nation's highest unemployment rate.

"The industries affected by tourism are all behind it," said Republican Rep. Joe Heck of southern Nevada, who has sponsored a bill in the House that would require shorter visa interview delays, among other measures. "We need the jobs."

Ocampo, who spent her vacation shopping at upscale boutiques and visiting family in California, said she would be more eager to come back if she knew her business was wanted.

"Everyone wants to visit the Statue of Liberty and Disneyland," she said.

Source: http://www.msnbc.msn.com/id/45802686/ns/travel-news/

time change when does daylight savings start when does daylight savings start earthquake in texas earthquake in texas official time news 9

[DealNews] Samsung Galaxy S II Epic 4G Android Sprint Phone for $80 free shipping

Result from DealNews.com? Samsung Galaxy S II Epic 4G Android Sprint Phone for $80 + free shipping
(Posted by DealNews.com: 12/27/2011 - 8:53 EDT)

With activation of a new 2-year contract, Amazon Wireless offers the Samsung Galaxy S II Epic Touch 4G Android Smartphone for Sprint for $79.99 with free shipping. That's tied with our mention from last week and the lowest total price we could find by $70. This CDMA phone features a 4.52" 480x800 Super AMOLED Plus touchscreen display, Samsung Exynos C210 1.2GHz dual core processor, 8-megapixel camera with 4x zoom and auto-focus, 1080p video capture, 2-megapixel front-facing camera, 16GB internal memory, microSD card slot, Bluetooth, wireless connectivity, and Android 2.3 OS (Gingerbread). Deal ends December 31.

Note: If you sign up for Mobile Hotspot (currently $29.99 per month, including 5GB of data) this purchase qualifies for a $100 Amazon Gift Card.


Source: http://www.freshbargains.net/Samsung-Galaxy-S-II-Epic-Android-Sprint-Phone-for-free-shipping-/more?lid=http://dealnews.com/534666.html?iref=rss-dealnews-todays-edition

vanessa bryant kurt busch kurt busch nfl mock draft 2012 adam lambert incendiary floyd mayweather

Texas police: Man in Santa suit killed 6 relatives

Grapevine police investigate the scene where they found seven people dead outside Dallas in Grapevine, Texas, Sunday, Dec. 25, 2011. Four women and three men who police believe to be related were found apparently shot to death, and authorities said they believe the shooter is among the dead. (AP Photo/Mike Fuentes)

Grapevine police investigate the scene where they found seven people dead outside Dallas in Grapevine, Texas, Sunday, Dec. 25, 2011. Four women and three men who police believe to be related were found apparently shot to death, and authorities said they believe the shooter is among the dead. (AP Photo/Mike Fuentes)

Police tape hangs in front of an apartment complex where 7 people were found dead, Sunday Dec. 25, 2010, in Grapevine, Texas. Four women and three men who police believe to be related were found apparently shot to death, and authorities said they believe the shooter is among the dead (AP Photo/Mike Fuentes)

Police tape stretches through a Grapevine, Texas, apartment complex where police found seven people dead in an apartment on Sunday, Dec. 25, 2011 in Grapevine, Texas. Four women and three men who police believe to be related were found apparently shot to death, and authorities said they believe the shooter is among the dead. (AP Photo/Mike Fuentes)

Police line tape lines the scene where police found seven people dead in an apartment on Sunday, Dec. 25, 2011 in Grapevine, Texas. Four women and three men who police believe to be related were found apparently shot to death, and authorities said they believe the shooter is among the dead. (AP Photo/The Dallas Morning News, Scott Goldstein) MANDATORY CREDIT; MAGS OUT; TV OUT; INTERNET OUT; AP MEMBERS ONLY

Grapevine police investigate the scene where they found seven people dead outside Dallas in Grapevine, Texas, Sunday, Dec. 25, 2011. Four women and three men who police believe to be related were found apparently shot to death, and authorities said they believe the shooter is among the dead (AP Photo/The Dallas Morning News, Michael Ainsworth) MANDATORY CREDIT; MAGS OUT; TV OUT;

(AP) ? Police in a quiet Fort Worth suburb worked Monday to piece together a family history after a man dressed in a Santa Claus suit apparently shot six relatives and himself on Christmas.

Grapevine police spokesman Sgt. Robert Eberling said the shooter showed up in the Santa outfit shortly before gunfire erupted and that the family appeared to have been opening Christmas presents. Police responding to a 911 call found four women and three men dead, along with two handguns.

"We think he was just inside there celebrating Christmas with the rest of them and decided for whatever reason that's how he's going to end things," Eberling told The Associated Press.

Investigators worked through Sunday night and into Monday morning, meticulously searching the apartment where the bodies were found, along with vehicles parked outside. Police said they believe the victims were related, though some were visiting and didn't live in the apartment.

Eberling said investigators are piecing together a "family history," but he declined to get into specifics. Autopsies of the shooter and the victims were being done Monday by the Tarrant County medical examiner, but it would probably be Tuesday before their identities were released, he said.

"We're getting a clearer picture, but we're not ready to go on the record with anything until we find out from the medical examiner absolute confirmation of identities and the manner of death," Eberling said.

Roger Metcalf, a spokesman for the medical examiner's office, said the victims have been tentatively identified, but the office couldn't confirm the names because the state driver's license fingerprint database wasn't available on the holiday.

"In addition, we need to locate next of kin before information can be released, and our investigators are working on that as well," Metcalf wrote in an e-mail to the AP.

Late Sunday evening, police intently searched a sport utility vehicle parked outside the apartment. The vehicle is registered to a man who listed his residence as a home two miles away in the neighboring suburb of Colleyville.

Thomas Ehrlich, who lives near the home in Colleyville, told the AP he heard from neighbors that police went to the house Sunday. He said it was his understanding that the man and women who once lived there were estranged.

Records show the couple had financial problems and that their home, most recently valued on the county tax rolls at $336,200, had been sold in 2010 at a foreclosure auction.

Police and firefighters rushed to the Lincoln Vineyards complex about 11:30 a.m. Sunday after receiving a 911 call in which no one was on the other end of the line. Because no one responded on the phone, police went into the apartment, located at the back of the complex.

They found the seven, aged 18 to 60, dead.

Many of the nearby apartments are vacant, and police said no neighbors reported hearing anything on a quiet Christmas morning when many people were not around.

The apparent murder-suicide involved the first homicides in Grapevine in more than a year and a half.

Associated Press

Source: http://hosted2.ap.org/apdefault/386c25518f464186bf7a2ac026580ce7/Article_2011-12-26-Texas-Seven%20Dead/id-9cd10d8db035482fa9e6f51178ff37ec

osu football osu football christopher walken ok state ok state kurt budke regis philbin

China Makes Almost Nothing Out of Apple's iPads and iPhones

My favourite fact of this past year was the proof that China makes almost nothing out of assembling Apple?s iPads and iPhones. It?s a favourite because it speaks so directly to one of the great political arguments going on in both the US and the UK. I refer, of course, to this very strange idea that both countries would get (even) richer if only they would do more manufacturing.

The paper itself is here and it?s an analysis of who gets what out of the sales price of either an iPad or iPhone.

This article analyzes the distribution of value from innovation in the global supply chains of the Apple iPad and iPhone. We find that Apple continues to capture the largest share of value from these innovations. While these products, including most of their components, are manufactured in China, the primary benefits go to the U.S. economy as Apple continues to keep most of its product design, software development, product management, marketing and other high-wage functions in the U.S. China?s role is much smaller than most casual observers would think. A key finding for managers is that they need to beware of relying too heavily on single customers. With its control over the supply chain, Apple has the power to make and break the fortunes of many of its suppliers. A key finding for policymakers is that there is little value in electronics assembly. Bringing high-volume electronics assembly back to the U.S. is not the path to ?good jobs? or economic growth.

Or more simply seen in these charts at Mark Perry?s.

As you can see the two largest inputs are materials and Apple?s own profit margin. Despite the machine being assembled in China it?s still true that the value of that labour is trivial: 2% or so of the cost of the machine.

?

?

?

?

?

?

Here the amount that goes to Apple?s profits is even higher and China?s labour input about the same.

?

The reason the profits are so much higher is really a measurement issue: the iPhone tends to be sold through the networks, thus the sales costs are somewhere in the networks? accounts, not here.

?

?

?

?

But here?s the real takeaway point from these numbers. Basic manufacturing, electronics assembly type manufacturing, simply isn?t a high value occupation any more. And the level of wages that can be paid in any particular occupation depend, inexorably, on the amount of value that occupation adds. So if electronics assembly adds little value then there simply cannot be high wages for those doing that work for it just isn?t a high value added occupation.

So quite why there are those insisting that bringing all this manufacturing ?home?, to the UK or US, will lead to lots of well paid jobs in manufacturing I?m just not sure. There are indeed high paid jobs in manufacturing, as the onshoring of Samsung?s chip plant for Apple shows. But that?s producing 1,100 jobs to produce all of the processing chips for all of Apple?s products.

If you like, the end lesson here is that you can have lots of manufacturing jobs, sure, as Foxconn does, but they pay $400 a month maybe. And you can have high paying manufacturing jobs like at that Samsung plant in Texas, but you?re not going to get very many of them.

If you want lots of jobs and lots of high paying jobs then you?re not going to find them in manufacturing. They?re where the money is, in the design, the software and the retailing of the products, not the physical making of them. Manufacturing is just so, you know, 20 th century.

Source: http://www.forbes.com/sites/timworstall/2011/12/24/china-makes-almost-nothing-out-of-apples-ipads-and-i/?feed=rss_home

ronan ronan diane sawyer clay matthews kenny chesney matt kemp rumpelstiltskin

Queen's Christmas Day message: Royal wedding 'a personal reminder of the value of loved ones'

By Sarah Graham

Last updated at 3:50 PM on 25th December 2011

The Queen has celebrated the importance of the family in her Christmas Day message, describing the wedding of the Duke and Duchess of Cambridge as her own personal reminder of the value of loved ones.

In times of hardship we often 'find strength from our families' and in a crisis communities 'break down barriers and bind together' to help each other, she said.

She added that 'sadly' it sometimes took a tragedy to bring out valued qualities from within an individual.

Scroll down for video

Poignant: The Queen delivers her pre-recorded Christmas Day message as her husband recovers from heart scare

Poignant: The Queen delivers her pre-recorded Christmas Day message as her husband recovers from heart scare

But William and Kate's wedding - a joyous occasion for the monarchy and celebrated by up to a million people on the streets of London - reinforced to the Queen the importance of relatives in happy times.

In her annual address to the nation, she paid a poignant tribute to the Cambridges' marriage, and that of Zara Phillips and rugby star Mike Tindall.

She said: 'The importance of family has, of course, come home to Prince Philip and me personally this year with the marriages of two of our grandchildren, each in their own way a celebration of the God-given love that binds a family together.'

Christmas wishes: Princess Eugenie and Queen Elizabeth II accept flowers from children outside Sandringham Church after the traditional Christmas Day service

Christmas wishes: Princess Eugenie and Queen Elizabeth II accept flowers from children outside Sandringham Church after the traditional Christmas Day service

As she spoke, footage was shown of the two weddings, first Zara and Tindall moments after they emerged from Canongate Kirk in Edinburgh where they exchanged vows in July.

William and Kate were pictured kissing on the Buckingham Palace balcony following their Westminster Abbey wedding in April, then images were shown of the newlyweds surrounded by their relatives.

Stiff upper lip: Queen Elizabeth leaves the church at Sandringham

Stiff upper lip: Queen Elizabeth leaves the church at Sandringham

Speaking from Buckingham Palace's 1844 room, the Queen also acknowledged that the festive period would be a tough time for some.

'For many this Christmas will not be easy. With our Armed Forces deployed around the world, thousands of service families face Christmas without their loved ones at home,' she said.

'The bereaved and the lonely will find it especially hard. And, as we all know, the world is going through difficult times.'

The Queen is without her husband, the Duke of Edinburgh, by her side at Sandringham this Christmas as he is recuperating in hospital following treatment for a blocked coronary artery.

The Queen began her Christmas address by highlighting how recent natural disasters had brought out the best in people.

She said: 'In this past year my family and I have been inspired by the courage and hope we have seen in so many ways in Britain, in the Commonwealth and around the world.

'We've seen that it's in hardship that we often find strength from our families; it's in adversity that new friendships are sometimes formed; and it's in a crisis that communities break down barriers and bind together to help one another.

'Families, friends and communities often find a source of courage rising up from within. Indeed, sadly, it seems that it is tragedy that often draws out the most and the best from the human spirit.'

The Queen illustrated her comments by highlighting how, earlier this year, natural disasters in Australia and New Zealand and a mining tragedy in Wales had seen people rally round to help each other.

Footage was shown of her and the Duke of Edinburgh taking a boat trip up the Brisbane River, during a tour of Australia in October, to learn about the devastating floods that hit the state of Queensland earlier this year.

Popular: Hundreds of well wishers swamped Sandringham to see members the Royal family including Catherine, Duchess of Cambridge

Popular: Hundreds of well wishers swamped Sandringham to see members the Royal family including Catherine, Duchess of Cambridge

Speaking as the pictures were screened, the Queen said: 'We were moved by the way families and local communities held together to support each other.'

Images of flood waters were shown which then moved on to William's March visit to New Zealand to meet emergency services who dealt with the aftermath of a devastating earthquake which struck in February.

The Duke was seen standing in the shadow of the ruined Christchurch Cathedral and also meeting fire crews.

His father, the Prince of Wales, was shown in a community centre in South Wales last month, chatting to key emergency personnel who took part in efforts to save four trapped miners killed when water engulfed the Gleision Colliery near Pontardawe in September.

Personal reminder of the value of loved ones: The Queen paid tribute to William and Kate

Personal reminder of the value of loved ones: The Queen paid tribute to William and Kate

For the broadcast the Queen chose to wear a strawberry red dress by Angela Kelly with her diamond and platinum Flame Lily brooch, a 21st birthday present from the children of Southern Rhodesia.

She stood in front of a large decorated Christmas tree, with a table in the foreground bearing a collection of four family photographs.

There was a group shot of a youthful Princess Royal, former husband Captain Mark Phillips and their son Peter as a boy, the Queen's father George VI, her granddaughter Lady Louise Windsor in a cardboard box, and another picture of a young Peter Phillips.

Around the room, used for audiences with ambassadors and foreign prime ministers, were other photographs of the Queen Mother, Charles, the Queen and Philip.

The Queen's historic state visit to Ireland in May - the first by a British sovereign since the Republic gained independence - was an example of the bond between friends, whether individuals or countries.

She was warmly welcomed by the Republic during the trip which set the seal on close relations between the UK and its neighbour after centuries of bitterness.

Footage was shown of the Queen in Dublin's Garden of Remembrance, dedicated to all those who fought for Irish independence from Britain.

President Barack Obama's state visit in May was illustrated by images of the US head of state inspecting a guard of honour in Buckingham Palace's garden.

'The spirit of friendship so evident in both these nations can fill us all with hope. Relationships that years ago were once so strained have through sorrow and forgiveness blossomed into long- term friendship,' said the Queen.

'It is through this lens of history that we should view the conflicts of today, and so give us hope for tomorrow.'

The Christmas Day broadcast concluded with a theme that drew inspiration from the Bible's nativity story.

Children from St Joseph's Catholic Infants' School in Camberwell, south London, were seen performing scenes from a traditional nativity play complete with a tiny doll in a basket as baby Jesus.

The Queen said: 'Although we are capable of great acts of kindness, history teaches us that we sometimes need saving from ourselves - from our recklessness or our greed.

'God sent into the world a unique person - neither a philosopher nor a general, important though they are, but a saviour, with the power to forgive.

'Forgiveness lies at the heart of the Christian faith. It can heal broken families, it can restore friendships and it can reconcile divided communities. It is in forgiveness that we feel the power of God's love.'

The broadcast ended as it had begun, with a performance by the Band of the Irish Guards.

The Christmas address had started with the musicians playing the National Anthem and ended with them performing the carol O Little Town of Bethlehem on the forecourt of Buckingham Palace.

?

Source: http://www.dailymail.co.uk/news/article-2078491/Queens-Christmas-Day-message-Royal-wedding-personal-reminder-value-loved-ones.html?ITO=1490

herman cain accuser election day kawasaki disease joe frazier where do i vote wheel of fortune today show

Etta James hospitalized for breathing trouble

(AP) ? Etta James' longtime manager says the terminally ill blues singer has been hospitalized after experiencing difficulty breathing.

Lupe De Leon says James' family is with her at a Southern California hospital where she was taken earlier this week.

De Leon, who has been James' manager for 30 years, says the singer is "in pretty bad shape" but it remains unknown whether she will be able to be released. He says James was taken to the hospital on Wednesday evening and is on a breathing apparatus.

James' doctor recently announced that the "At Last" singer has been diagnosed with terminal leukemia. The Grammy-winner and Rock-and-Roll Hall of Fame member is also suffering from dementia. She has been receiving mostly at-home care.

A judge on Monday set aside $350,000 for James' treatment.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2011-12-23-People-Etta%20James/id-c24058ecb35540a4b3ea9e3e4e7898ca

news 9 tuscaloosa tuscaloosa earthquake california earthquake california crimson tide crimson tide

Is the curtain falling on the eurozone?

The eurozone will be a different place from what it is today, even if EU leaders take the serious steps necessary to tackle the eurozone's debt problem.

Milton Friedman, never a fan of the eurozone, predicted it would collapse in 10 years. Now entering its 13th year, the currency union is facing its most critical challenge. And at the Nobel -winning economist may turn out to be right on everything except the exact timing of the dissolution.

Skip to next paragraph

The reason? European leaders continue to miss the mark in their assessment of the root cause of the continuing crisis. To paraphrase Bill Clinton: It's the debt, stupid.

Earlier this month, European lawmakers held the latest in a string of emergency summit meetings to deal with the worsening crisis. Many billed it as the last chance to save the euro. If this is the standard by which the outcome is to be measured, the meeting was an abject failure.

The plan of action European officials positioned as the salvation of the euro consisted of an agreement to draft a revised treaty giving central European Union authorities greater control over how sovereign nations manage their budgets. The participants also agreed that EU central banks would lend another ?200 billion ($262 billion) to the International Monetary Fund. This money would then be used by the IMF as part of the European Stability Mechanism to support the handful of countries struggling to remain solvent.

The first measure is unlikely to ever be ratified as an EU treaty in the face of British opposition. And the alternative fiscal compact that the other EU members are now trying to create is proving legally tricky, even before it runs a gauntlet of political challenges. This leaves the ?200 billion loan to the IMF as the only probable legacy of the summit meeting. Unfortunately, it's not enough to address the issue.

Greece illustrates the problem. ?As the poster child for eurozone fiscal incompetence, it owes all by itself roughly ?350 billion in sovereign debt with about ?200 billion of this owed to banks and other financial institutions. (The remainder is held by the International Monetary Fund and other countries.) But only ?130 billion has been committed to helping Greece. Even if all ?200 billion were committed to Greece alone, it would not cover the debt it owes. No matter how one slices it, that nation is headed for a partial default and the future remains very much in question.

Until the debt is addressed, the EU is simply throwing good money after bad. The reason is that even if EU leaders seem unaware of the debt, markets are not. And markets are forcing indebted nations to pay ever higher amounts of interest to service that debt.

In its most recent bond offering this past Wednesday, Greece was forced to offer yet another euro-era record yield of 6.47 percent on five-year bonds. By contrast, German two-year debt sold at just 0.29 percent. In 2012, Greece has over ?50 billion in maturing debt that will come due, ?17 billion of which is in the form of interest payments.

Other, much larger eurozone countries face similar challenges. And if the EU can't come up with enough money to bail out a tiny country like Greece, there's no way it can do it for a big one like Italy or Spain. The resources simply are not there.

The only way out is to ?reset? the debt by forcing these countries into default. This approach also makes it possible to redirect the bailout fund money to the bondholders, thereby softening the blow to the financial system.

Forcing the default of one or more Eurozone countries is a drastic move, but it is necessary to safeguard the remaining members. Under the current approach, even the strongest economies will eventually be bled dry as investor confidence deteriorates and bailout costs rise.

Whether? governments have the political will to act in such a decisive manner is a different matter. Nevertheless, the realization is dawning that in the near future, the eurozone will be a different place than it is today. The question is whether this change will be the product of reasoned policy for the betterment of all, or a collapse that a wise economist predicted years ago.?

??Scott Boyd?is a currency analyst with OANDA,?a Forex trading company with offices in?New York,Toronto,?Singapore, and?Dubai,?and contributes to the company?s?MarketPulse FX?blog.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/JT4xnBpTxWA/Is-the-curtain-falling-on-the-eurozone

bonjovi bonjovi kim jong un antonio brown james harrison james harrison lil kim

2012 Will Be the Year of the Android Tablet


Oct 20: Becoming a Security Detective - Gathering and Analyzing Security Intelligence in the Enterprise

In this all-day virtual event, experts will offer detailed insight in how to collect security intelligence in the enterprise, and how to analyze and study it in order to efficiently identify new threats as well as low-and-slow attacks such as advanced persistent threats. Register today!

Platinum Sponsors: ArcSight, NetIQ, Proofpoint, Thawte
Gold Sponsor: Q1 Labs


October 6: InformationWeek 500 Virtual Event: The Need for Speed

At the 2011 InformationWeek 500 Virtual Conference, C-level executives from leading global companies will gather to discuss how their organizations are turbo-charging business execution and growth.

Platinum Sponsor: ArcSight, Workday
Gold Sponsor: IBM


Aug 25: InformationWeek & Dark Reading present: How Security Breaches Happen and What Your Organization Can Do About Them

Attendees will get insights on how to prevent breaches from happening, how to research and identify the source of a breach, and how to remediate a compromise as quickly and efficiently as possible.

Platinum Sponsor: ArcSight, NetIQ, Thawte
Gold Sponsors: Lumension, NetGear, GFI
Silver Sponsor: Motorola


July 28: InformationWeek & Symantec present: Infrastructure at Risk -- Taking Decisive Action to Secure Your Critical Data Assets

Join the editors of InformationWeek and leading security experts from Symantec for an in-depth look at the current threats faced by large and small organizations, and the implications for your business, your customers, and even your country. You'll hear how today's threat landscape is changing drastically, and learn the latest countermeasures and best practices to keep your company's precious data assets out of the hands of determined cybercriminals.


July 27: Electronic Health Records -- Moving from Concept to Reality

At this InformationWeek Healthcare Virtual Event, we will talk with healthcare practitioners, IT professionals and other industry experts about issues surrounding EHR selection, deployment and use.

Platinum Sponsor: HP, Intel, GBS, Geotrust, NextGen
Silver Sponsor: Proofpoint


On-Demand: InformationWeek & Interop present: Business Mobility Unleashed

In this virtual event, the leaders behind InformationWeek Business Technology Network and Interop zero in on the top mobile technologies and techniques you'll need to understand and master to ensure your organization thrives in the wireless world.
Platinum Sponsors: Alcatel-Lucent, APC
Gold Sponsor: HP
Silver Sponsor: Emerson Network Power
Bronze Sponsor: Skybot


On-Demand: Cybersecurity Best Practices

In this half-day virtual event, experts assess the state of cybersecurity in government and present the latest strategies for creating a more secure, attack-proof IT infrastructure. This event will help CISOs and other information assurance professionals in federal, state, and local government stay on top of the latest developments in the field.
Platinum Sponsor: GeoTrust
Gold Sponsor: Bit9


On-Demand: Data Center Transformation

Data centers are undergoing incredible transformations that create both opportunities and challenges for IT professionals. Server virtualization enables rapid provisioning, more efficient use of resources, and improved disaster recovery. That trend will continue with storage and network virtualization, allowing IT pros to further abstract -- and optimize -- data center resources.In this virtual event, you will learn how prepare your organization for a data center transformation.
Platinum Sponsors: AMD, APC, Cisco, Eaton, SunGard
Gold Sponsor: Emerson Network Power


On-Demand: Cloud Computing Roadmap: Controlling the Cloud - Managing, Optimizing and Integrating Cloud Services with Your Existing IT Infrastructure

In this virtual event, you'll learn how to craft your own strategy for successfully embracing and integrating new cloud computing capabilities without derailing or destroying your current IT roadmap.
Platinum Sponsors: ArcSight, GoToAssist, SunGard, thawte
Gold Sponsor: Symform
Silver Sponsor: Skybot


On-Demand: Plugging the Leaks -- Finding and Fixing the IT Security Holes in your Enterprise

In this virtual event presented by Dark Reading and InformationWeek, you'll find out how criminals target the flaws in your IT environment, and you'll get some insight on the best methods for finding and fixing your vulnerabilities -- before you're hit by malware or unauthorized access.
Platinum Sponsors: NetIQ, Novell, thawte, Webroot
Gold Sponsors: ArcSight, Bit9, OpenText
Silver Sponsor: Application Security, Core Security, Lumension

?

Source: http://www.informationweek.com/byte/commentary/personal-tech/tablets/232301038

seven days in utopia seven days in utopia big 10 championship game big 10 championship game lsu state of play the national defense authorization act