Good economic news dampened by water issues

Good economic news dampened by water issues: "The Irish Water debacle has left Ministers on the defensive as they struggle to bed down the contentious new regime. For all the complaints of political incompetence, a fresh batch of positive economic news yesterday provides further evidence that economic recovery is taking hold.
The National Treasury Management Agency sold 15-year debt for the first time since 2009; new exchequer returns indicate tax revenues will come in well ahead of target by the end of the year; and the European Commission pinpointed Ireland as virtually the only bright spot on an arid euro zone landscape in a new forecast.
If the Government’s prime difficulty these days is that many people see little evidence of a turnaround in their daily lives, a drop in consumer sentiment last month points to a sense of caution on the street. Even with a modest tax cut to come in January, such data suggests uncertainty over the extent of the water charge still weighs heavily on consumers."



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Australia Loses 24,400 Jobs as Bureau Revises Employment Data - Bloomberg

Australia Loses 24,400 Jobs as Bureau Revises Employment Data - Bloomberg: "Australia’s labor market is weaker than previously reported, the nation’s statistics bureau said in a review released today, sending the currency lower as traders bet on an extended interest-rate pause.

The total number of Australians employed in September was 24,400 fewer than previously reported and the jobless rate was 6.2 percent, compared with the prior 6.1 percent, the Australian Bureau of Statistics said in a statement today.

The ABS said last month, when it ordered the review, that it was unable to explain a sudden bout of volatility in labor figures. It said anything from new survey questions to a waning mining boom prompted the seasonal adjustment of raw data to show a record 121,000 jobs gain in August, and if applied in September, a 172,000 loss."



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IPCC: rapid carbon emission cuts vital to stop severe impact of climate change | Environment | The Guardian

IPCC: rapid carbon emission cuts vital to stop severe impact of climate change | Environment | The Guardian: "Climate change is set to inflict “severe, widespread, and irreversible impacts” on people and the natural world unless carbon emissions are cut sharply and rapidly, according to the most important assessment of global warming yet published.

The stark report states that climate change has already increased the risk of severe heatwaves and other extreme weather and warns of worse to come, including food shortages and violent conflicts. But it also found that ways to avoid dangerous global warming are both available and affordable.

“Science has spoken. There is no ambiguity in the message,” said the UN secretary general, Ban Ki-moon, attending what he described as the “historic” report launch. “Leaders must act. Time is not on our side.” He said that quick, decisive action would build a better and sustainable future, while inaction would be costly.

Ban added a message to investors, such as pension fund managers: “Please reduce your investments in the coal- and fossil fuel-based economy and [move] to renewable energy.”

The report, released in Copenhagen on Sunday by the UN’s Intergovernmental Panel on Climate Change (IPCC), is the work of thousands of scientists and was agreed after negotiations by the world’s governments. It is the first IPCC report since 2007 to bring together all aspects of tackling climate change and for the first time states: that it is economically affordable; that carbon emissions will ultimately have to fall to zero; and that global poverty can only be reduced by halting global warming. The report also makes clear that carbon emissions, mainly from burning coal, oil and gas, are currently rising to record levels, not falling."



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Generation Rent: ignored, insecure – and on the rise | Barbara Ellen | Comment is free | The Guardian

Generation Rent: ignored, insecure – and on the rise | Barbara Ellen | Comment is free | The Guardian: "Interesting to see the predicted figures from campaign group Generation Rent, saying that renters could outnumber homeowners in 104 out of the 650 UK constituencies by the year 2021. Forty-nine of the predicted renter-heavy constituencies would be in London – northern cities are already more likely to be renter dominated. This trend is already established: the number of constituencies where those who rent are in the majority has grown from 38 in 2001 to 65 in 2011.

Through pure dumb luck, I have never consistently rented. In the years when I first moved to London, I went from a series of squats, to housing co-ops, to a mortgage. These days, I reserve the right to roll my eyes at younger people, who seem to expect to be homeowners, or at least living in salubrious abodes, basically achieving the lifestyles of their parents, by their early 20s.

Once again, nation’s yoof, be reasonable! “Generation rent” or not, most people have to rough it for a bit. When I squatted, it may have been free, but usually it was in rough areas, with vermin and frightening gas smells aplenty and, at one low point, only a couple of bin-liners taped over a gaping hole separated what I laughingly called “my bedroom” from the street. Is this what you mean by people like myself screwing your generation over?"



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