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Friday, January 1, 2010

Unsustainable

I first heard that unsustainable would be the word of 2010 from Glenn Beck. Calm down this post isn't about him. It is about that very prediction. As you will see it was correct:

From Scotland:
Research by Citizens Advice Scotland indicated that consumer debt had increased by 40% in five years.
Highlands and Islands MSP David Thompson has called for the UK to have an interest rate cap, similar to other countries in the EU.
Mr Thompson said the consumer credit situation in Scotland was "unsustainable".
"The lending situation in Scotland is completely out of control right now."

http://news.bbc.co.uk/2/hi/uk_news/scotland/8437288.stm

Las Vegas:
LAS VEGAS—Salaries and benefits being paid to Clark County employees are unsustainable in the weak economy and should be re-evaluated, according to a preliminary report by a citizens advisory panel.

http://www.mercurynews.com/news/ci_14101373

India:
Dec. 30 (Bloomberg) -- India’s stocks fell, snapping a four-day rally, after Finance Minister Pranab Mukherjee said the nation’s budget deficit, forecast at 6.8 percent of gross domestic product in the year to March 31, can’t be sustained for a long time.

http://www.bloomberg.com/apps/news?pid=20601091&sid=aAlnw_1.zSug

Currency Trading:
Dollar May Extend Drop on Concern December Rally Unsustainable

http://www.bloomberg.com/apps/news?pid=20601101&sid=axGlJ7Um7Gbs

United Kingdom:
The UK is suffering from a "growing addiction to alcohol" which is placing an increasingly unsustainable burden on the National Health Service (NHS), according to a new report.

http://www.inthenews.co.uk/news/health/alcohol-burden-on-nhs-not-sustainable--$1350596.htm

http://news.scotsman.com/opinion/Inquiry-must-be-launched-into.5951245.jp

United States:
The Concord Coalition, Arlington, Va., a group of Democrats and Republicans who want to reduce the size of the U.S. budget deficit, has published those recommendations in a commentary on the major House health bill, H.R. 3962, and the major Senate health bill, H.R. 3590.
Bringing uninsured people into an unreformed, unsustainable health finance system could make the situation worse, and there is no guarantee that Congress could offset the proposed spending increases by making proposed cuts in Medicare and Medicare Advantage funding stick, the coalition says.

http://www.lifeandhealthinsurancenews.com/News/2009/12/Pages/Budget-Hawks-Increase-The-Cadillac-Plan-Tax.aspx

Australia:
CommSec chief economist Craig James says the data shows home prices are rising at unsustainable rates in capital cities like Darwin, where prices are up almost 18 per cent and Melbourne up by 17 per cent.

http://bigpondnews.com/articles/Finance/2010/01/01/Rates_may_rise_with_property_prices_412777.html

Business:
One of the United State’s largest trucking companies,YRC Worldwide Inc. may file for bankruptcy this weekend according to an analyst despite attempts to complete a debt-to-exchange offer.
The company would need to have funds available to make a $19 million interest and fee payment by Thursday. At present the liquidity position is unsustainable.

http://www.transworldnews.com/NewsStory.aspx?id=152944&cat=8

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