We all know that drinking and driving is a combination of danger; driving under the influence is a cardinal sin of the road. We’ve listened to the warnings, we’ve read the statistics, we’ve watched the after-school specials. We know it’s a bad thing to do and yet, some of us do it anyway.

Unfortunately, those who drink and drive often go unpunished: they simply don’t get pulled over or noticed by law enforcement. But, those who do get pulled over, who cause an accident, or who are involved in any kind of automobile incident, often get noticed…in hand cuffs.

In the US, the punishment a person receives for drinking and driving is contingent on several factors. Included in this is the state where the offense occurred. While all 50 states have two statutory offenses – driving under the influence and driving with a blood alcohol level of at least .08 – some states charge people for driving with a blood alcohol level of .05. Some states also make it illegal to have open containers in an automobile, where some do not. Most US states take into account the level of intoxication as well as the number of offenses. Based on these factors, some people do jail time, some people lose their license, and some people get off with a fine.

Other countries have different laws than the US. Some are more lenient, and some are harsher. In Australia, the blood alcohol content is .05, and lower (.02) for those with learner’s permits or new drivers. The punishment for drinking and driving in Australia includes fines, suspension of license, imprisonment, and medical assessment before a driver’s license is reinstated.

In certain countries, drinking and driving is punishable by death. A first time offense in El Salvador leads to execution by firing squad, while a second offense in Bulgaria also leads to execution.

In France, drinking and driving is punishable by a 1,000 dollar fine, imprisonment for one year, and loss of license for three years. Finland and Sweden, along France’s lines, also automatically sentence drunk drivers to one year jail sentences including hard labor. In Norway, a drunk driver is jailed for three weeks with hard labor and loses their license for a year. If they do it again, they lose their license forever. In South Africa, drinking and driving results in a ten year prison sentence or a 10,000 fine and, in some cases, both.

In Canada, the first drinking and driving offense warrants loss of license for one year and a 600 dollars fine. The second offense warrants two weeks in jail and loss of license for two years. The third offense warrants three months in jail and loss of license for three years. After the fourth, they might just send you to America.

In England, a drunk driver pays a 250 dollar fine, spends a year in jail, and then loses their license for one year. In Russia, drunk drivers simply lose their license for life. Yes, even Russia has laws against drinking and driving.

Some countries are more creative in their attempts to keep the inebriated off the road. Turkey, for example, punishes drunk drivers by taking them 20 miles from their town and making them walk back with a police escort. In Poland, drunk drivers are subject to jail, fine, and, even worse, mandatory attendance at political lectures. In Malaya, if a man is caught driving drunk he is jailed. If he is married, his wife is jailed too. In Costa Rica, the license plates are removed immediately from the cars of those who drink and drive.

Drinking and driving can cost a lot of money, a lot of freedom, and, in worst cases, a lot of lives. In our world of available transportation drinking and driving has no place. Instead of driving drunk, simply take a bus, take a cab, take a subway, or rent a limo. I would say don’t even drink, but let’s aim for something more feasible.

From real estate to personal finance, all these transactions that involve financial matters can be classified as investment. Investment entails the release or discharge of certain amounts of money from the part of the investor, in exchange of a much larger deal in the end (either monetary or not).

Investing in a bank is also possible, though the return is not really that big, at least you’ll have returns even though you are not doing anything. If you deposit your money in the bank, chances are, interest can make your money grow. The only two disadvantages I see in this setup are:

1. Interest rates are so low.
2. You need to have a lot of money deposited in your account for the returned investment to be big.

It would be a very interesting position to be on the Bank of England’s Monetary policy committee (MPC) at the moment. Driven by the monetarist policies of both New Labour and the Conservatives, the rule always seems to have been control inflation by raising interest rates. This basic concept seems to have been lost during these Credit Crunch times. In fact since, the Credit Crunch began we have seen interest rates drop from 5.75% down to 5%. They have stayed at 5% for quite a while now though as the MPC are getting more and more jittery about inflation. The panel seem to be adopting a “wait and see” approach. The question that we need to ask ourselves is what is “less bad” inflation or recession?

By cutting interest rates inflation is likely to rise a little, as all the people on trackers and Bank SVR find a little extra money in their pockets from month to month. If interest rates are raised in a measure to control inflation, we could potentially see more companies go out of business as loans become more expensive.

In my opinion, it would be better to see rates drop, as inflation is potentially avoidable, but recession is a much more difficult matter. Let’s look at the situation of a typical factory worker. If inflation was to continue at its current level, or even go higher, the factory worker will struggle. They may have to change the way they shop, sell their car and switch to public transport. They may have to start taking a sandwich to work rather than eat at the canteen. They may have to quit smoking or do without their football season ticket this year. Two weeks in Majorca may have to be substituted for a weekend in Mablethorpe. Whatever happens though, the factory worker will be able to adapt.

On the other hand, if interest rates are increased, the factory worker may be called into the office to be laid off. No redundancy payout, just a couple of weeks notice. The factory worker goes to the Job Centre the very next day but unfortunately it seems that the same story has been played out at all the other factories. There are now fewer jobs on offer, and twice as many people fighting for the scraps. The Recruitment agencies aren’t fairing any better as the vast majority have long relied on factories and warehouses as there main customers (N.B. I expect to see 50% of recruitment agencies finish within the next 24 months). The factory worker faces up the fact that he now has to sign on for the short term. All luxuries will have to be foregone. He needs to write to all his creditors and let them know of inability to pay. Some may offer terms, others will start CCJ proceedings. Note that at the moment, Northern Rock are beginning repossession proceedings after one missed mortgage payment!

What situation would you rather be in? Having to cut your cloth to suit a harsher financial climate, or packing your belongings up to go into emergency housing? The MPC should think along these lines are cut Interest rates NOW.

State benefits refer to any regular long-term payment from a government. This may be in the form of state pension, benefits for low income, children, careers, incapacity or sickness.

Almost all states provide state benefits to its citizen. This is given to provide assistance to disabled and less fortunate.

In California alone, an approximate of a thousand laws was enacted to provide state benefits to its citizen. The following are some of it:

California CalWORKs

This is a welfare program that gives cash aid and services to eligible needy California families. The program serves all 58 counties in the state. This is operated locally by county welfare departments. The family that applies and qualifies under this law receives on going assistance each month to help pay for housing, food and other necessary expenses.

Requirements under this Law

To qualify for this benefit program, you must be:

Resident of the State of California
Pregnant or responsible for a child under 19 years old
US national
Citizen
Legal alien
Permanent resident
Low or very low income
Underemployed
Unemployed or about to become unemployed

Needy families may apply for this benefit at any office located in any county where they live.

California Food Stamp Program

California Food Stamps is a federally funded program that helps people buys the food they need for good health. Food stamps are only part of their food budget; they must spend some of their own cash to buy food enough for a month.

Requirements to qualify under this Law

In order to qualify under this law you must be a resident of the state of California and must fall into one of these two groups:

With current bank balance under $2,001
With current bank balance under $3,001 who share their household with a person age 60 and over or with a person with disability.
California Head Start

This is a national program administered by the Head Start Bureau within the administration of Children, Youth and Families, Administration for Children and Families, and Department of Health Human Services. This provides developmental comprehensive services to children from birth up to entry in the elementary school. This program is designed to address developmental goals for children, employment and self-sufficiency goals for adults, and support parents in their works and child caring roles.

Requirements for this Law

To qualify for this law, you must be:

Resident citizen of the State of California
A parent or primary caregiver responsible for a child who is too young for public school
Household annual income before taxes must not exceed $10,400 if you have one person in the household
California Healthy Families

This law is a low cost insurance for California children and teens. It provides health, dental and vision coverage to children who do not have insurance and do not qualify free Medi-cal.

Requirements under this Law

In order to qualify under this law, you must be:

Resident of the State of California
Under 19 years old
Not covered by health insurance
US national
Citizen
Legal alien
Permanent resident
With annual household income before taxes of less than $26,000

Among the fast increasing crimes in the United States, identity theft may be considered as one of the most burdensome scenarios that a Supplemental Security Income beneficiary may encounter. An unlawful person who was able to steal your Social Security Number can manage to use it to obtain your other secret information.

Afterwards, they may utilize the same information to apply for credits in your name. You will just be aware of the fact that you have been robbed when notices and calls coming from unknown creditors demand payments for various transactions and items that you never purchased.

Your Social Security Number is extremely confidential. Thus, you must exercise all your efforts to protect it from other people’s knowledge. Aside from this, the SSA also protects your number as well as all your other personal information. Various measures are implemented by this agency to ensure that no other person can use your number to perform any illegal activity.

Here are some ways on how these individual get along with their fraudulent acts:

Lost wallets or mails that contains information regarding your Social Security identity and other financial statements Stealing secret information after your transaction with an unsecured website Searching for possible information about you in your trash cans Pretending to be someone in need of vital information about you Obtaining such information from someone whom you legitimately transacted with

Always remember, to avoid these problems, protect your card and number at all times. Be aware that these stealers are always on stand by waiting for their chance to do their fraudulent acts.

If needed, show your card only to those rightful persons and keep it on a safe place where nobody except your family can have access to it. Carrying your card is not recommendable for there is a chance that you may lose it.

Now if someone has been using your Social Security identity, the best thing to do is to report the incident to the police authorities as soon as possible. You may also call on your credit card company so that they may be able to deny further transactions made in your account.

Moreover, you may consult a competent a Social Security lawyer for proper guidance and assistance on how to incriminate those identity thieves. A credible advocate with vast experience in handling these types of cases may also let you recover your losses.

In searching for the appropriate lawyer to handle your Social Security cases, it is very important that you only pick an advocate who has a wide range of knowledge and credible experience in winning claims. Therefore, you must closely look on his background before hiring his services.

Several law firms and private practitioners offer these types of legal services. Yet, you may only get the most out of your case with those who specialize in this field. Appointing the right people then, would mean better chances of a successful result.

SSI fraud protection is not that hard to implement. You just have to follow certain precautionary measures and always care to understand all the steps to follow in case you have encountered it.

The last Budget of Gorden Brown was a bold political move that presented him in a good light right before his Prime Minister bid. He abolished the 10p rate of tax, and lowered the 22p tax bracket to 20p – a move to show Labour cuts taxes.

It wasn’t until he was elected, that it came to light that the tac changes had meant the lowest paid workers of the country were now paying more tax.

There was outcry, and under intense political pressure, tax rebates were offered which come into play on September 2008. These aren’t cheques in the post like the American system, since such a move could encourage more debt. Those people who know money is coming on average spend more than they are going to receive in debt before it comes.

The UK rebate was paid in income tax changes, so a worker would only see an increase in a pay-packet, or next time they audit for self employed people.

So what is all this talk about UK tax rebates, and does it affect you?

* 5 million low paid workers were losing out due to the abolition of the 10p tax rebate – this is roughly classed as all those who earn less than £17,000 a year.
* The rebate will cost around £2.7 billion to the UK coffers.
* The tax rebate will be given via the pay-slip PAYE, or next year if you’re self employed when you declare your taxes.
* The rebate was done by changing how much taxable income you are tax free on – increasing from £600 to £6035.
* There are still losers – those earning £8-10,000 were to lose £200 a year from the new tax laws – the rebate should give back £120 so they will still be losing £80 compared to pre-budget.
* People earning from circa £17,000 to £40,835 gain from the rebate, as they were better off before anyway under the 10p tax rate abolition and now get the rebate on top.

The Government are now heavily publicising this move, to try and gain them favours with the public before a big downturn in the economy looms. Darling the Chancellor even went on record, in an unprecedented step, saying:

“the economic downturn would be “profound and long-lasting”,

“…has insisted it is his duty to be straight with the public, after telling a newspaper the UK faces its worst economic crisis in 60 years.”

“…that voters were “pissed off” with Labour’s handling of the economy, a key issue at the next election, and said it was “absolutely imperative” that ministers communicated their intentions better.”

This is the MP whose job it is to known everything about the economy of the UK. If he says we’re in trouble, we’re in trouble.

The words given to the MPs to say in TV interviews are like mantra’s – to every question asked of Darling after he had been “briefed” his answer included:

* I’m being honest
* Every other country in the World
* Unique Circumstances
* Credit Crunch
* Rising Oil and Food Prices
* We helped Northern Rock
* Tax Rebate next month
* Helping People getting back into work
* Fundamental of Economy Sound

“Who’s going to win Eurovision this year?” “Honestly, every other country in the world has rising oil and food prices, I remember when we helped northern rock I was going to give a tax rebate next month…blah blah blah…I think they should bring back Cliff Richard.”

I don’t have a TV so I don’t need to listen to repetitious spin a lot. Lets break it down a bit:

* I’m being honest – Why do I get jittery when a politician starts with that?

* Every other country in the world… – Asia seems to be unaffected thus far

* Credit Crunch – such a buzzword for people at the moment. Basically free credit to everyone will eventually cause problems, you can’t keep borrowing forever.

* Rising Fuel and Oil Prices – Why did we invade Iraq – wasn’t it for WMD or for “$20 a barrel oil”? Because both failed.
* We Helped Northern Rock – Nationalising a bank under intense pressure after failing to find it a buyer, placing £1.3 billion more in national debt.
* Tax Rebate next month – What tax rebate? The one where companies can claim back VAT they shouldn’t of paid in the first place because they overpaid?

Or the rebate to make up for the blunder of not noticing abolition of the 10p tax rate would put the lower paid workers out of pocket?

India has the potential to be the next great bull market of the 21st century – an opportunity of being a better investment than even China!

Like China, India was stuck with a failed economic system for over 50 years. It was a bureaucratic, socialistic state that led to weak growth, and stymied entrepreneurship and initiative. Famines, lack of investment, and poverty were the result.

But In the early 1990′s, the country changed course and started to open up its economy to the world. Personal marginal tax rates have fallen from 50% to less than 30%. Tariffs and import quotas were slashed, exports are growing at a 20% annual rate, with America being its largest market. Only 10% of its economy is dependent on international trade, insulating it somewhat from external shocks. The banking system is much improved, and non-performing loans have dropped to less than 4% of total bank loans. It has fiscal crisis to accumulating $135 billion in foreign exchange reserves.

Here are six reasons that investors should consider tilting some of their long-term capital towards India and not China.

Unlike China, India is a functioning democracy with respect for property rights and the rule of law. China’s authoritarian state may have the advantage at making quicker decisions and pushing through economic reforms but without democratic political reform it will eventually hit a speed bump the size of the Great China Wall. India’s multi-party parliamentary system with its obstructionist bureaucracy is far from ideal but at least the daily speed bumps on the road to market reform can be overcome.

India is a natural ally of the U.S. as it emerges on the global stage and plays classic balance of power politics. America’s relationship with China will at best be wary and tense. The fact that many Indian citizens speak English is also a significant advantage both commercially and politically.

China’s state-owned companies have staying power but government ownership will limit their growth and potential. Foreign governments will be suspicious of their intentions and likely consider them as an extension of the Chinese government. State ownership will also lead to inefficiencies and an inability to hold onto top management talent.

India’s capital markets are better than China’s. India’s stock market was established in 1870 and has 6,000 publicly-traded companies and a more modern financial and banking system that allocates capital fairly well. Only 10% of bank credit in China goes to private companies. India has 100 companies with a market cap over $1 billion.

India is a very youthful nation with 50% of its population under 25 years of age. This leads to less strain on its national budget and the hope that the younger generation will drag the bureaucracy and politicians to swifter implementation of market reforms. China’s one-child policy has backfired leading to an aging population which will lead to manpower shortages and tremendous pressure on its national budget. 20% of Shanghai residents are over 60 years old and by 2020, one-third of Shanghai’s population of 13.5 million will be over 60.

India has a more balanced and sustainable economy with 64% of its GDP attributable to consumer spending and 50% of its GDP from service sector. China’s economy is more dependent on foreign investment, exports and resources. India’s 250 million living in poverty is a tragedy but it’s middle class has quadrupled during the past two decades to reach 250 million as well.

For sure India has its challenges: big infrastructure needs, frustrating red tape and a tendency for the government to hang on to large state-owned enterprises to mention a few. It has recently suspended its privatization program, has high levels of public debt, very poor basic services such as elementary education, water and health, rigid labor laws, and still lacks the consensus that exists in China for welcoming foreign investment and placing a high priority on economic growth. India’s infrastructure such as roads, power and ports is also in desperate need for investment. This is one area that China is way ahead of India. The other is China’s ability to attract roughly ten times as much foreign direct investment.

India’s economy is doing well but is still below its potential. Just think if India embraced foreign investment, privatization, had the political will to improve the lives of workers in agriculture by consolidating farms and using more technology to vastly improve productivity. If it can provide its citizens with quality basic education and other services and put in place adequate power and other infrastructure, it can create 100 million new jobs in industry and manufacturing.

Still, compared to China, India does not get much attention except for the outsourcing issue and is – for now – largely under the radar screen of even sophisticated investors. After a strong start this year, India’s 30 company Bombay Sensitive Index (Sensex) index was beaten down more than 20% but has recovered to be flat for the year.

The challenge with investing in India right now is valuations of the leading companies and the limited investment options. Valuations may be getting a bit ahead of themselves with SENSEX companies trading at around 17-18 times next year’s earning projections versus 13 times for emerging markets as a whole.

The Morgan Stanley India Fund (IIF) is a closed-end fund that invests in India’s blue chips trading at $42, quite a bit off its 52-week high of $57. It is a bit pricey right now and trades at a 17 % premium to net asset value so caution is recommended until this premium comes down to the historical average in the low single digits. I would make only a modest allocation at this point. There are also some Indian ADRs trading on U.S. exchanges and these are also expensive and trade at a price premium over the India market price. My favorites are Dr. Reddy’s Laboratories (RDY), HDFC Bank (HDB) and Tata Motors (TTM).

Be patient – there no doubt will be great investment opportunities as well as new investment vehicles to take advantage of this great secular bull market.
India presents investors with the opportunity of a lifetime and its democratic government, stronger financial system, market-based interest rates and history of respecting property and intellectual rights may make it a better long-term play than China.

In the United States, federal reserve banks exist to regulate the banking industry. They are government agencies tasked to provide financial services for the government and for other banks. They also help implement the country’s monetary policies and control the money supply in the market to stabilize the economy.

Federal reserve banks perform a variety of services for other banks such as providing emergency loans to banks that are short of cash and assisting those that are facing financial crisis. They help keep the economy afloat and therefore, they play a very important role in the country’s growth and development.

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Another sign that there is an economic downturn is when companies start to cut jobs. Take for the example the case with People’s United Financial Bank that has allegedly started its cost-cutting efforts in response to the present state of the U.S. economy.

WLBZ2.com reports that the said bank will cut 420 jobs and close 20 branches in four states this summer. The company’s only explanation for the move is that it seeks greater efficiency after taking over Chittenden Corporation in January of this year.

I can’t help but notice that more and more banks are starting to feel the effects of the weakening economy. If this continues, news like this will become ordinary. Let’s see in the next few months how the upcoming administration will handle the recession.

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