June 25, 2014


Filed under: news — jaspar @ 4:15 pm
















Jun 24, 4:34 PM EDT 










The Great Recession and the slow recovery have sharply widened the gap between the wealthiest Americans and everyone else, according to a study that underscores the unevenness of wealth gains *since the recession ended*. 



The richest 5 percent had 24 times the wealth of the median household in 2013 —-up substantially from 16.5 times as much in 2007, according to a study by University of Michigan researchers. 


The study paints a bleaker picture of U.S. household wealth than do official figures from the Federal Reserve. 



[ Pfeffer, Fabian T., Sheldon Danziger, and Robert F. Schoeni. 






“Wealth Disparities Before and After the Great Recession”. 



Annals of the American Academy of Political and Social Science



650(1): 98-123 ] 









25 June 2014 Last updated at 10:32 ET 






US [World Tyrant] GDP shrinks 2.9% in first quarter 




The US [World Tyrant] economy suffered its worst performance for five years in the first quarter of 2014, latest figures show. 



The economy shrank at an annualised rate of 2.9% in the first three months of the year, the *third* estimate from the US [World Tyrant] Commerce Department showed. 



This was worse than the previous estimate of a 1% contraction, and also worse than economists’ expectations.










Press statements and answers to journalists’ questions following Russian-Austrian talks [Excerpts] 


24 June 2014, 20:00, Vienna 





QUESTION: Rossiya TV. 


A question about South Stream.  The President of Austria just spoke extensively about how this project is very important and necessary for Austria, but we nevertheless all hear the statements made by the American [World Tyrant] side and the statements coming from certain European officials.  In this regard, how viable are the Russian-Austrian agreements on South Stream, in your view? 



VLADIMIR PUTIN: You know, we are holding talks with our contracted partners, not with other nations.  Our American [World Tyrant] friends are unhappy with South Stream; they were unhappy in 1962 as well, when we began the gas-for-pipes project with Germany.  And now they are unhappy with this as well. 



Nothing has changed; the only thing that changed is that they themselves want to supply gas to the European market.  But I assure you, it will not be cheaper than Russian gas.  Pipeline gas is always cheaper than liquefied gas.  Shale gas needs to be extracted, it needs to be turned into liquid, transported across the ocean and then regasified.  This involves a lot of money.  It is certainly more expensive than our pipeline gas. 



But the Americans are competitors nevertheless.  This is a normal situation.  And they are doing everything possible to break up this contract, same as many decades ago.  There is nothing unusual here.  This is typical competition. 



Political means are used in this competition as well. They talk about Europe’s overdependence on Russian gas.  We believe that any of our partners have the right to, they can and they should, perhaps, create the most favourable conditions possible for themselves, maintaining contacts and contracts with many partners. 



We do the same.  Just recently, we signed a contract with the People’s Republic of China.  We will continue to promote our product in developing markets in Southeast Asia and Asia overall.  But this is our natural movement to expand our transport infrastructure. 



Incidentally, answering your Austrian colleague’s question, I can say that this is not about a desire to bypass Ukraine.  These projects were initiated long ago.  And what about Nord Stream –-was that an attempt to bypass Ukraine?  No.  And what about our Blue Stream to Turkey under the Black Sea?  This project exists and is working.  Is that a desire to put someone in a difficult position?  No, these are simply our direct contacts with Turkey. 



There is another gas pipeline through Belarus and Poland.  Is that an attempt to bypass Ukraine?  No, we are simply developing our transport infrastructure.  You cannot always insist that we are doing something against someone.  We are doing this in our own interests –-ours and those of our partners. 









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