Bible Prophecy 6/14/2012: 'Plague of LOCUSTS Strike California'

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Bible Prophecy 6/14/2012: 'Plague of LOCUSTS Strike California' 






June 14, 2012 




Locusts have invaded Calfornia, and Pastor Paul Begley breaks down the report that aired on ABC News. We are seeing more and more signs of the END TIMES described  in the prophetic scriptures in the Bible.  Are you prepared? - EFG-BN 



















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'If You Start Now, You Won't be Sorry Later' 
  "Courage is never to let your actions be influenced by your fears"  
       









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Hamilton and University Graduates

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Here's an interesting article from the NYT on Dayton Ohio and the percentage of residents with university degrees. I would be curious to see the statistics for Hamilton. The number of McMaster graduates that stick around has always been a problem for Hamilton, mainly due to a lack of suitable jobs in my opinion.

Are things getting better for Hamilton in this regard? Maybe. One related issue is that the value of a university degree has been watered down, so the measure isn't as valuable as it once was and community college diplomas have become more valuable relatively. Still the city lacks large private sector employers that employ large numbers of university graduates and probably won't any time soon.

Ontario's $500,000 Tax Bracket, What Exactly is it?

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The recent change to taxing income over $500,000 in Ontario prompted by the NDP and acquiesced to by the provincial Liberals has been subject to some confusion. It has been termed in the media as a 2% surtax for incomes over $500,000. However I found a KPMG document (warning PDF) that suggests that the 2% over $500,000 is actually a new tax bracket, not a surtax and the two existing surtaxes actually apply to this new tax bracket. I've seen this fact mentioned in the National Post, but nowhere else. Here's the relevant paragraph from the document:

In an amendment to its 2012 budget, Ontario temporarily introduced the “Deficit-Fighting High-Income Tax Bracket” which will apply to an Ontario individual taxpayer’s taxable, income in excess of $500,000. As a result, the top statutory Ontario income tax rate on taxable income of more than $500,000 will increase to 12.16% for all of 2012 (from11.16%) and to 13.16% in 2013. The Ontario Liberal government says it will eliminate the bracket once Ontario’s budget is balanced.

There's another interesting paragraph in the document about Ontario's tax indexation for inflation. The province uses its own value and for 2012 it is 3.3%. Raising the tax brackets by 3.3% should be interesting in such a moribund economy. Ontario's average wage is barely moving, so this should hurt tax revenue.

Ontario indexes its tax brackets and surtax thresholds using the same formula as thatused federally, but uses the provincial inflation rate rather than the federal rate in the calculation. The province’s inflation factor is 3.3% for 2012

One last thing about indexation. Will the $500,000 tax bracket in 2013 stay at $500,000 or will it get indexed to inflation? Who knows? I'm tempted to write my MPP, NDP leader Andrea Horwath to get some clarification since the NDP proposed it.

Canada GDP Growth 1.9% in Q1, Ontario's?

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Well the news is out that Canada's GDP growth was only 1.9% in quarter one, below expectations. What does this number mean for Ontario? The last few quarters Ontario has underperformed the Canada number so we could easily be looking for a number between 1 and 1.5%. Considering the population growth rate is 1% (from Wikipedia) for Ontario, that's a per capita GDP growth rate of around zero. That can't be great for provincial revenues. Unfortunately we won't hear the Ontario number until some time in July.

One interesting thing about the Canada number is that its relation to the US number:

The growth matched the economy’s fourth-quarter performance, which was revised up from 1.8 per cent, as well as first-quarter growth in the United States.

Curiously Canada was more jobs relatively during that period than the US. Perhaps weaker productivity growth in Canada is leading to more jobs. Or maybe it heralds weak job growth to come in Canada. After the crappy US number released yesterday for May, Canada's number announced next week should be interesting.

National Post Article on Ontario Electricity

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Here's a great article from the National Post about Ontario's electricity market answering the question why the price of electricity is going up in Ontario versus trending down in other place in North America. It needs to be read, but basically the cause is paying for green energy combined with decreasing electricity use.

This is depressing considering how few green electricity jobs have been created in Ontario. Also depressing is that this is basically a regressive policy where money is transferred from everybody, including the poor to those wealthy enough to be able to install solar panels.

May Unemployment Report, Not So Hot

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After two scorching months of job growth in Canada, the May numbers honked, coming in at only 7,700. Haven't seen the Ontario numbers anywhere, so I assume they were flat too. Since last month's Ontario's numbers were also flat that's not really great news for Ontario government revenues. I can't see June's numbers being great and with Europe going slowly down in flames, Ontario's 2012-2013 deficit will probably end up being higher than predicted.

Congress Drops the Ball While Children Can’t Get Their Drugs for Cancer Treatment–And Many of the Cancers Can be Cured–Shame on Boehner’s Response–For 14 Months the Bill Has Been In the Works

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Over a year ago the bills started and today drug shortages are still looming.  The bill is stuck in the Senate, why does it take 14 months before anything begins to happen.  The FDA commissioner, Dr. Margaret Hamburg  has called for the law to put through so they can be notified when there are drug shortages looming.  Watch the video and see what Boehner has to say, he respect the system..boy are in bad shape if that’s the case.  Many of the drugs in short supply are generic as some companies are no longer making them due to not enough profit. 

The bill needs a full vote of the Senate to become law and that’s where it has been stuck so one more tarnish on the GOP lawmakers for sure.  Harry Reid said they should have it on the floor shortly and his response was “it’s always been that way here, slow”.   We all know different and have seen things hit the floor and get passed, it just seems to depend on who has a sense or urgency and concern for their fellow man and children. There’s all this talk about saving money with cancer care, well not too long ago I had this story about UCLA spending two hours out of every day, calling around to borrow or work with suppliers to ensure their cancer patients when they come in for treatment, that the drugs will be there.    As long as this goes on who can even think about cost savings it goes right out the door and patients may or may not get their cancer drugs.  What is also ironic is that the Cancer facility at UCLA is making some breakthroughs with cancer research and targets.  BD 

Drug Shortages Continue–UCLA Spends 2 Hours A Day Checking on Cancer Drug Availability–ASHP Website Lists All Current Shortages

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Fifteen months ago today, Republicans and Democrats introduced bills to solve to problem. The Preserving Access to Life-saving Medications Act would require drug companies to notify the FDA if a shortage is coming. Both parties and the President support the bills, yet they haven't passed.

CBS News medical correspondent Dr. Jon LaPook found out more about the shortage and then traveled to a place he'd never worked before -- the U.S. capitol.

"I've been in Congress for 16 years," Degette said to CBS News. "I have never seen a Congress more difficult to pass legislation. I think you should call the leadership and ask them why they haven't brought this bill up for vote!"

http://www.cbsnews.com/8301-201_162-57429527/life-saving-cancer-drugs-for-children-stuck-in-federal-legislative-limbo/