Unemployed at 60 With $100,000 in Retirement Savings

Unemployed at 60 With $100,000 in Retirement Savings

By Walter Jul 27, 2012
I'm 60 years old, unemployed and have $100,000 saved for retirement. Given my circumstances, I can't afford any losses. So I'm considering converting this money to gold and cash. What do you think? -- Robin, Scottsdale, Ariz.
Given your circumstances, I think you would be making a big mistake moving your hundred grand to gold and cash.
Let's start with gold. For all the hype about gold being a safe haven, the reality is that it can lose value as easily as the stock market. If you had plowed all your money into gold last September when it was selling for just under $1,900 an ounce, for example, your $100,000 stash would only be worth a little more than $84,000 today, since gold now goes for around $1,600 an ounce.
So whatever other merits gold may have as an investment, shielding you against losses isn't one of them.

Ex-sceptic says climate change is down to humans

30 July 2012

Ex-sceptic says climate change is down to humans

By www.bbc.co.uk
A formerly sceptical climate scientist says human activity is causing the Earth to warm, as a new study confirms earlier results on rising temperatures.

In a US newspaper opinion piece, Prof Richard Muller says: "Call me a converted sceptic."

Muller leads the Berkeley Earth Project, which is using new methods and some new data to investigate the claims made by other climate researchers.

Their latest study confirms the warming trend seen by other groups.

The project received funds from sources that back organisations lobbying against action on climate change.

Tearful Jordyn Wieber out; Aly Raisman, Gabby Douglas go for Olympics gymnastics top spot

Tearful Jordyn Wieber out; Aly Raisman, Gabby Douglas go for Olympics gymnastics top spot

Published: July 29, 2012
By THE ASSOCIATED PRESS
LONDON - This was not what the Americans expected.
Oh sure, being atop the standings by a comfortable margin after their qualifying session in women's gymnastics, that went according to plan. But world champion Jordyn Wieber, a heavy favorite to add the Olympic gold, won't even get to contend for the all-around title after finishing behind teammates Aly Raisman and Gabby Douglas. Countries are limited to two gymnasts in the all-around and event finals.
It was a stunner for Wieber, who had lost only two all-around competitions since 2008 -- though both to fellow Americans -- and it left her teammates reeling.
PHOTOS: Highlights so far | Opening ceremonies | Olympic logos
SPECIALS: Results, sports guide, TV schedule | Every medal winner
"I was really surprised, and I feel awful because she wanted it so bad," said Raisman, Wieber's closest friend on the team and the one who knocked her out of the all-around. "But she should still feel proud because she's an Olympian. We have to stay calm and focused on team finals."
The 17-year-old Wieber was sobbing as she made her way through the mixed zone, so distraught she couldn't speak to reporters. A quote attributed to her and distributed by the London Games' internal

Bill Clinton setting the stage for Obama at convention makes perfect sense

07/30/2012

Bill Clinton setting the stage for Obama at convention makes perfect sense

By Mary C. Curtis
CHARLOTTE, N.C. -- North Carolina isn’t Arkansas. But it’s still the south. It’s been awhile since Bill Clinton occupied the White House. But he’s still awfully popular. Despite a little golf and a handful of fundraisers, Clinton and President Obama are not the best of friends.But, boy, does Bill Clinton love to be the go-to guy.

It makes perfect political sense that Clinton has been tagged, as The New York Times reported, to formally place President Barack Obama’s name into nomination at the Democratic National Convention here in September, in prime time, and make the economic argument for four more years. This from the president who presided over a flush economy, served two terms and has never strayed far from center stage. The Clinton Global Initiative is one thing, but this speech puts him back into TV rooms across America. “There isn’t anybody on the planet who has a greater perspective on not just the last four years, but the last two decades, than Bill

HSBC Sets Aside $2 Billion for Legal Woes as Profit Falls

HSBC Sets Aside $2 Billion for Legal Woes as Profit Falls

BY NEIL GOUGH JULY 30, 2012
HONG KONG — Profit at HSBC Holdings dropped nearly 9 percent in the first half of the year, as the big bank deals with the fallout from a money-laundering investigation and a settlement over selling inappropriate financial products.

On Monday, HSBC said that it had set aside $700 million to cover the potential fines, settlements and other expenses related to a money-laundering inquiry in the United States. The bank made a further $1.3 billion provision toward a regulatory settlement related to payment protection plans for credit card loans, home mortgages and other consumer borrowings.

The legal woes weighed on the company’s financial results.
HSBC announced net income of $8.4 billion in the first half the year, down from $9.2 billion in the previous year. HSBC’s operating income rose slightly, to $43.6 billion, over the same period.

“I very much regret HSBC’s past failures and I apologize for them. Our controls should have been

Iran expects to hold more nuclear talks: foreign minister

Iran expects to hold more nuclear talks: foreign minister

Jul 30, 2012
(Reuters) - Iran expects to hold more talks with world powers on its nuclear program following an inconclusive round of negotiations in Istanbul earlier this month, its foreign minister said in a newspaper interview published on Monday.
The failure of the talks to secure a breakthrough over Tehran's uranium enrichment, which the West fears is aimed at developing nuclear weapons, has raised international concerns that Israel may carry out a military strike.

"I can't say it with certainty but if everything proceeds normally then there should be further negotiations," Iranian foreign minister Ali Akbar Salehi told Austria's Der Standard.

"A breakdown (in talks) is in nobody's interests. The gaps can only be closed through talking."

Coverage of London Games has people talking

Coverage of London Games has people talking

By Robert Bianco, USA TODAY

2012/7/30

If NBC wanted people talking about London's Summer Olympics, consider that goal achieved.
True, much of the talk inspired by NBC's coverage so far has been less than glowing. We're only four days in, and already there's a Twitter pile-on at #NBCfail (if you follow it, prepare to be deluged) and a growing chorus of complaints aimed at Ryan Seacrest, who seems to have tapped into the deep reservoir of disdain every annoyed sports fan has ever felt about any lightweight, extraneous sideline reporter.
In the long run, NBC would rather the chatter not include concerns about Michael Phelps' struggles or gymnastics missteps: If you think it's hard to get people to watch tape-delayed victories, try selling tape-delayed disappointments. But for now, as long as the Olympics stay in the forefront of the

Palestinian official: Romney comments unacceptable

Palestinian official: Romney comments unacceptable

2012/7/30

JERICHO, West Bank (AP) — Mitt Romney's assertion that Jerusalem is Israel's capital is absolutely unacceptable, a senior Palestinian official said Monday, voicing the strongest Palestinian criticism yet of the Republican presidential candidate.
Palestinian officials had largely maintained diplomatic silence during Romney's current visit to the region, even as the candidate embraced Israeli positions and in an apparent snub, avoided meeting with Palestinian President Mahmoud Abbas.

Kevin Durant leads U.S past France: Men's basketball

Kevin Durant leads U.S past France: Men's basketball

The Associated Press Posted: Jul 29, 2012

The U.S. men's basketball team has won its Olympic opener in London, beating France 98-71 behind 22 points from Kevin Durant.

Kevin Love added 14 and Kobe Bryant had 10 for the Americans, who led by a point after one quarter Sunday but made six 3-pointers in the second on their way to a 52-36 halftime lead.

Durant and Bryant opened the third with 3s, and the reigning gold medalists cruised from there.

New CO2 findings may unlock secrets of global warming

New CO2 findings may unlock secrets of global warming (+video)

A team of British and Australian scientists has discovered an important method of how carbon is drawn down from the surface of the Southern Ocean.

The Capitol Column | Staff | Sunday, July 29, 2012 This article was updated at 8:46 p.m. EDT with a video released by Commonwealth Scientific and Industrial Research Organisation (CSIRO). A newly released study finds that giant whirlpools and currents 500 miles wide may allow scientists to unlock the secrets of how oceans absorb greenhouse gases and curb the effects of global warming.

GM global marketing chief leaving

GM global marketing chief leaving

@CNNMoney July 29, 2012
NEW YORK (CNNMoney) -- Joel Ewanick, General Motors' global marketing chief, is leaving the company, the automaker said in a statement Sunday.
Ewanick, 52, joined GM (GM, Fortune 500) a little over two years ago as head of marketing for the U.S. Just seven months later, he was promoted to Global Chief Marketing Officer, then a new role at GM. That made him responsible for GM's marketing in places as far-flung as Asia, South America and Europe and brands unfamiliar to most Americans like Holden, Opel and Daewoo.
In a 2010 interview with CNNMoney.com shortly after his promotion at GM was announced, Ewanick outlined his strategy for boosting the automaker's image around the world. The basic ideas: Truly know the customer and respect the locals.
Before joining GM, Ewanick was Nissan's U.S. marketing chief. Prior to that, he headed up marketing for Hyundai Motor America, where he was credited with creating the successful Hyundai Assurance

France snatches gold from Lochte, U.S. relay team

France snatches gold from Lochte, U.S. relay team

By Nicole Auerbach, USA TODAY
LONDON - Cullen Jones touched the wall, knowing he'd delivered the lead to Ryan Lochte with 100 meters to go. Jones told himself, Get out of the pool so you don't miss the pictures.
That's how sure Jones was - and how close the American men were to winning the 4x100-meter freestyle relay Sunday night at the London Aquatics Centre.

But Lochte got beat by a 46.74-second anchor leg by France's Yannick Agnel, who out-touched the American at the wall. The stunning comeback was nearly a mirror image of what American anchor Jason Lezak did to the French freestylers back in 2008.

PHOTOS: Best images of Olympic swimming
"I can definitely appreciate irony," Jones said. "To a certain degree, I was like, 'Ooh, payback.' "

Dick Cheney: picking Sarah Palin as running mate was 'mistake'

http://sirifarm.com/

Dick Cheney: picking Sarah Palin as running mate was 'mistake'

Dick Cheney, the former US Vice President, said John McCain's 2008 running mate pick of Sarah Palin was a "mistake" because of her inexperience
29 Jul 2012
In an interview with ABC News, Mr Cheney, who was George W Bush's running mate in 2000 and 2004, said the main criterion for anyone being considered as a potential future vice president "has to be: Is this person capable of being the president of the United States."
Mr Cheney, who remains an influential figure in Republican circles, said he personally likes Mrs Palin, who was a first-term governor of Alaska when Arizona Senator McCain picked her as his running mate four years ago.
"I like Governor Palin. I've met her. I know her. She was an attractive candidate," he said.
"But based on her background – she had only been governor for what, two years? I don't think she passed that test ... of being ready to take over. And I think that was a – a mistake."
Mr McCain and Mrs Palin lost to the Democratic ticket of Barack Obama and running mate Joe Biden.
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Madonna Fans Boo After 45-Minute Paris Club Show

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A Thursday night Madonna club show in Paris intended to promote tolerance ended with a round of boos and intolerance ... aimed at Madonna. What was billed as an intimate show at the City of Light's 2,700-capacity l'Olympia club by the pop icon, streamed live on YouTube, turned into a public relations disaster when the 53-year-old singer left the stage after just 45 minutes.

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In addition to some asking for their money back after Madonna took the stage at 10:15 p.m. and departed around 11 p.m., a few angered fans shouted insults such as "salope" (the French word for "slut") at the star, who has been embroiled in controversy over the past week for her use of a Nazi

Robin Roberts to Take Medical Leave for Bone-Marrow Transplant

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BY ALISON SCHWARTZ

Friday July 27, 2012
As ABC's Good Morning America and NBC's Today show continue to vie for ratings, Robin Roberts is taking time out to focus on her own battle, with myelodysplastic syndrome.

The anchor, 51, expects to take a medical leave in late August or early September from her morning show, which has reigned over Today for the past four weeks, to undergo a bone-marrow transplant.

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Google's Lightning-fast Fiber Network Now Live in Kansas City

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By Melanie Pinola, PCWorld Jul 26, 2012

Google is launching its ultra-fast 1Gb-per-second Google Fiber Internet and Fiber TV service today in Kansas City.

Google announced last week that the gigabit network was coming, and here it is. Lucky residents of Kansas City, Kansas, and Kansas City, Missouri, can pre-register now at the Google Fiber website and rally their neighbors to pre-register to get Google Fiber (Google is building the network by demand).
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24.6% Unemployment Rate in Spain

EURO WATCH

24.6% Unemployment Rate in Spain

By RAPHAEL MINDER
Published: July 27, 2012
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Wary consumers, trade curb U.S. growth in Q2

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By Lucia Mutikani
WASHINGTON | Fri Jul 27, 2012
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Gross domestic product expanded at a 1.5 percent annual rate between April and June, the weakest pace of growth since the third quarter of 2011, the Commerce Department said on Friday.

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BY KENNETH LOVETT / NEW YORK DAILY NEWS
THURSDAY, JULY 26
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By Khara Lewin, CNN
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The storms struck Thursday, and at one point that evening, severe thunderstorm watches were in effect for a continuous stretch from Oklahoma through New Jersey.
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Will you ring Creed's bell to mark the start of the Olympics?

Will you ring Creed's bell to mark the start of the Olympics?

26 July 2012
by Jonathan Jones



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