Consumer Debt Increases in the U.S as Credit Card Debt Dips
Written by Marc Brown
The U.S witnessed a paradoxical economic development recently. Data from the Federal Reserve revealed that consumer debt has increased by 2.5% in 2010 compared to the previous year. Surprisingly, credit card debt has dipped at the same time. The outstanding consumer credit has increased by $5 billion last year. The total outstanding balance has reached $2.4 trillion.
Credit card debt in the U.S has declined by $4.2 billion. This is just a reflection of the fact that the consumers are finally spending cautiously. They have possibly developed distaste for debt settlement programs. The total credit card debt in America is $795 billion right now. This is the lowest number since September 2004.
Non-revolving debt increased by 6.9% last year. This means that the total non-revolving debt has… Continue reading...
Learn MoreChinese ghost town: Ordos
Written by Sandeep Nehra
Ordos in China – a modern ghost town. District Kangbashi, designed for more than a million inhabitants, remains deserted, even five years from the date of commencement of construction.
Click on image to open and then click again on the image to open it in full size view.
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- A desert highway. View of the empty houses.
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- Two workers clean the area around the building a public library. The per capita income in the Ordos is the second largest in the country after Shanghai.
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- Treasury. Workers are pieces of foam up the stairs leading to the Museum of Ordos, who had not yet been completed.
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- The number of residents in Kangbashi in the future may be equal to the population of San Diego or California, but currently the population of the district is only expected.
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- Most of the half million people in the Ordos Dunsheng considers his home, located an hour away from the empty Kangbashi
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- New construction in Kangbashi continues despite the fact that the area is not inhabited.
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- Despite the fact that most of the property is already purchased and planned that by 2010, a district will be populated Kangbashi still empty.
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- In the city the complete lack of business. A pedestrian walks past empty retail space. Virtually none of the companies did not want to move into a new area.
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- Depressing silence. The streets are deserted even in the morning, when residents have to drive to work.
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- Construction in progress. Workers are shtroblenie walls of the future shopping center for non-existent residents of apartment complex.
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- Building Area Kangbashi started within the state of the project in Ordos – a city in the province of Inner Mongolia, the source of wealth which is coal mining. Built up area of office buildings, administrative centers, government agencies, museums, theaters and sports facilities, as well as residential quarters. But there is one problem. In an area with more than one million inhabitants, is still almost no one lives.
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- An elderly man pushing a cart, going across the road that separates the finished building from still being under construction.
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Scientists warn of Earth stock depletion of helium gas
Written by Sandeep Nehra
Scientists know that when talking about the possibility of depletion of some of the wealth and natural materials, it shall notify directly in the minds of all resources such as oil and gas, but not many seem to realize is that the element most susceptible to depletion today is the helium gas that enters in many advanced technology industries.
The report of the scientific world today has enough helium only for a period not exceeding 25 years, because the process of manipulation that have been oil prices, which led to decline significantly.
The United States is a nation with the largest reserves of helium in the world, but in 1996, Congress passed a law stipulating the need to get rid of this stock in full before the year… Continue reading...
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