Financial Buzz Magazine http://www.financialbuzz.com (c)Financial Buzz Magazine  Most people live in debt. This doesn’t have to be a huge problem in your life, as long as it is kept under control and steps are constantly being taken to lessen the gap between you and financial independence. Debt and lending can be a scary path to take for most people, but it is in the dedication to long and short-term goals that make the difference when entering into and exiting out of the pitfalls of debt. Remember to be smart when thinking about your debt situation. Consider how it affects your life, what steps you will take to alleviate the stresses that debt and loans usually bring with them, and you may discover that the situation may not be as grim and scary as you made it out to seem. A little perseverance and knowledge could end up saving you tons of dough. This leades us to our questions is it better to save money or pay off debt? Without a doubt paying off any debt is more beneficial to you because the interest you pay on debt is much greater than the interest you earn while saving money. Psychologically speaking, as well, being debt-free will help you sleep better."]]> http://www.financialbuzz.com/news/stop-digging-the-debt-hole-bigger 2012-05-16 08:03:47  When trying to get approved, should I apply for as many credit cards as possible?  Although this practice may be tempting, avoid it, as it actually decreases your chances of getting approved. For one thing, creditors will look at your total unused credit line on all of your cards. If you have the ability to charge $40,000 on your credit cards but in fact only owe around $1,000, a potential creditor may look to the $40,000 spending power as if you already owed that money. Also, when you apply for credit the issuer requests a copy of your credit report, which show up as an inquiry on your report. Since creditors assume that many of the inquiries on your report have resulted in credit being granted, they may refuse to extend more credit to you based on this assumption."]]> http://www.financialbuzz.com/news/when-trying-to-get-approved-should-i-apply-for-as-many-credit-cards-as-possible? 2012-05-16 07:57:06  Bernard Arnault Bernard Arnault has a net worth of $41 billion. He is the chairman of Louis Vuitton Moet Hennessy. Aged 63, he is a French citizen currently residing in Paris, France. He graduated from the Ecole Polytechnique de Paris with a BA/BS. Once he graduated, he joined his father’s company and convinced him to liquidate one of the divisions and alter the focus of the company from construction to real estate. It was following this that he became the president of the company after his father. He is married now for the second time with five children, three of whom are from the second marriage. He is listed as the fourth wealthiest person in the world, the wealthiest person in France, and the sixty-fifth most powerful person in the world. As a business magnate, he is the chairman as well as the chief executive of a luxury group who has been named the top fashion person in 2011. He has married twice. His daughter is the director for LVMH and his son is the Head of Communications. His nephew is in charge of overseeing sales of LVMH. In 2007 he was dubbed the Commander of the French Legion of Honour. In 2011 he was promoted to the dignity of Grand Officer. Profits had increased by 22% after Louis Vuitton integrated Bulgari and formed a venture with Heng Long for crocodile leather. In an attempt to turn toward pedestrian investments, Arnault turned to Carrefour, a supermarket chain. However, not but a year ago, this investment was only worth around $1 billion. Personally, Bernard Arnault owns an island in the Bahamas whose rent is three hundred thousand dollars per week. He also owns a ski chalet called Cheval Blancin Courchevel. He was a witness at the wedding of President Nicolas Sarkozy.  "]]> http://www.financialbuzz.com/news/bernard-arnault-has-a-net-worth-of-$41-billion---up-up-and-away! 2012-05-16 07:54:23  How do I find the value of my home? Is it important to know even if I’m not selling my home?  To know the value of your home is to know how much leverage you have in the financial world. To a creditor a wink and a smile will only get you so far, whereas equity will get you much farther. It is important to know the value of your estate because many business loans and other kinds of loans are secured against real estate, meaning that agencies will lend you money only if you own property (this protects them from refusal or lack of re-payment). The best way to assess the value of your home is to hire a certified appraiser to assess your house. Usually the homeowner is responsible for this payment, but many times residential appraisers agree to accept orders from lending institutions with the understanding that payment will be made following settlement, or closing of the loan."]]> http://www.financialbuzz.com/news/how-do-i-find-the-value-of-my-home?-is-it-important-to-know-even-if-i’m-not-selling-my-home? 2012-05-14 17:27:48  What should my monthly mortgage payment be in relation to my monthly net income? Lenders and banks vary in their calculations for what is acceptable. Some lenders want your total ratio to be less than 36% for your home and 45% of your total debt. Some however allow up to 80% debt-to-income ratio to approve a mortgage loan. It all depends on your situation and the willingness of your mortgage broker to give you a loan. Keep in mind that these payments can be refinanced later (fixed to adjustable rates) to accommodate your changing financial circumstances."]]> http://www.financialbuzz.com/news/what-should-my-monthly-mortgage-payment-be-in-relation-to-my-monthly-net-income? 2012-05-14 17:26:25 “House flipping” is the process of buying a piece of real estate at a relatively low cost, improving the quality of the property and selling it at a heightened cost in a quick amount of time. Necessary for the process to work is an interested investor, a talented and ambitious home renovator (or team of renovators), and the determination to carry it through. Many investors use family and friends as renovators. There is definitely the potential to make a lot of money in a short amount of time but there are consequences. Sometimes work is done too fast and the quality of the work suffers. That is why usually more than one appraisal on the house should be done before selling. Many people make full-time careers out of house flipping and dedicate hundreds of hours of remodelling to realize a profit on their investment. There is no guarantee however that the price you sell the property for will match or exceed the money you put into fixing it up."]]> http://www.financialbuzz.com/news/what-is-“house-flipping”?-how-much-money-can-you-make? 2012-05-14 17:23:02 This is like asking how many raindrops are in a cloud. The sector exploded in the 1990’s, and now there are currently over 80 million Americans that invest in mutual funds, and the industry is worth over $400 billion in Canada. A mutual fund is a company that raises money by selling shares to its investors. In return for purchasing shares, investors receive a proportional share in the pool of fund assets. There is a range in degrees of diversification between mutual funds. Generally, one advantage to a mutual fund investment is that it gives small investors access to a well-diversified portfolio of securities such as equities and bonds. Another advantage to mutual funds is liquidity. Shares can be bought and sold by the shareholder and can be accessed whenever necessary. Mutual fund investments typically fail to beat the market however, and it is difficult to pick a fund that has a better chance to do well. That is to say past performance has little influence on future standings. When selling your mutual fund, be aware of tax consequences and back-end loads (charges that affect your total redemption value). A fund manager invests your money based on market conditions in order to reach specified objectives that’s in the original prospectus. Deciding which mutual fund to invest in and with what company is up to you, but due diligence will certainly serve you well in this case."]]> http://www.financialbuzz.com/news/what-are-the-advantages-and-disadvantages-to-mutual-funds? 2012-05-14 17:18:05 Warren Buffet The Mega Value Investor Warren Buffet has a net worth of $44 billion. He is the CEO of Berkshire Hathaway. Aged 81, he is a self-made billionaire who currently resides in Omaha, NE. As an American citizen, he graduated from the University of Nebraska Lincoln with a BA/BS and completed his masters at Columbia University. He was widowed but has since remarried. He currently has three children. He met Benjamin Graham during his studies at Columbia University and took over for Berkshire Hathaway in 1965. Forbes has him listed as the second wealthiest person in the United States. He is also ranked the twentieth most powerful people in the world and is the second most powerful person in the United States. He is a business man, an investor, and a philanthropist who is regarded as one of the most prosperous investors internationally. He was the wealthiest person in the world in 2008 and became the third wealthiest person in 2011. Because he sticks to a value investing philosophy and remains personally frugal, he has earned nicknames such as “Sage of Omaha”, “Wizard of Omaha”, and “Oracle of Omaha”. Buffet has stated that he would get rid of 99% of his money, giving it to philanthropic causes. He plans to do this most notably through the Gates Foundation. He did announce in February that he had made a decision as to who would replace him at Berkshire Hathaway. His farmer son was selected in December as the non-executive chairman charged primarily with the task of guarding the values of the firms. The newest legislation for 30% tax on the wealthy has earned the nickname “Buffet Rule”. The net worth of Warren Buffet has decreased by six billion because of a drop in stocks for Berkshire. He admitted to being completely incorrect about a comeback in the housing market as well as other mistakes he confessed in the annual letter. "]]> http://www.financialbuzz.com/news/warren-buffet-the-mega-value-investor 2012-05-14 17:01:16  What should I look for in insurance companies?  Do not put your life in the wrong hands! When shopping for any kind of insurance, you should always consider the firm’s financial condition. It is important that the company you choose can and will pay your claim. Secondly, you need to have a good knowledge of your insurance needs. This will depend on your specific situation. Lastly, it will serve you well to shop around for the best rate for what you need. An easy way to do this would be surfing the web (some websites even provide a price comparison), or by calling companies asking for rate information."]]> http://www.financialbuzz.com/news/what-should-i-look-for-in-insurance-companies? 2012-05-11 09:52:45 What are the advantages and disadvantages to mutual funds? This is like asking how many raindrops are in a cloud. The sector exploded in the 1990’s, and now there are currently over 80 million Americans that invest in mutual funds, and the industry is worth over $400 billion in Canada. A mutual fund is a company that raises money by selling shares to its investors. In return for purchasing shares, investors receive a proportional share in the pool of fund assets. There is a range in degrees of diversification between mutual funds. Generally, one advantage to a mutual fund investment is that it gives small investors access to a well-diversified portfolio of securities such as equities and bonds. Another advantage to mutual funds is liquidity. Shares can be bought and sold by the shareholder and can be accessed whenever necessary. Mutual fund investments typically fail to beat the market however, and it is difficult to pick a fund that has a better chance to do well. That is to say past performance has little influence on future standings. When selling your mutual fund, be aware of tax consequences and back-end loads (charges that affect your total redemption value). A fund manager invests your money based on market conditions in order to reach specified objectives that’s in the original prospectus. Deciding which mutual fund to invest in and with what company is up to you, but due diligence will certainly serve you well in this case."]]> http://www.financialbuzz.com/news/what-are-the-advantages-and-disadvantages-to-mutual-funds? 2012-05-11 09:46:44 A fun way to gain necessary market knowledge is to access a website that offers a simulation of the stock market, giving you “play money” where you can practice for free. This is not only a safe way to get to know the market for those who have no clue how it works, it also can be fun to invest tons of money that you don’t have just to see what happens. The site also can assist sophisticated investors looking to test out advanced strategies. These sites have a system that connects to a real-life data feed and can support trading in North American exchanges, option trading, short selling and adjusts for most corporate actions such as mergers and dividends. So get online, have fun, and become a virtual millionaire (or a virtual bum)!"]]> http://www.financialbuzz.com/news/are-there-ways-to-safely-practice-investing-in-the-stock-market? 2012-05-11 09:45:20 Bill Gates has a net worth of $61 billion. He is the Co-Chair of the Bill and Melinda Gates Foundation whose source of wealth is self-made from Microsoft. He is currently 56 years old and resides in Medina, WA. As an American citizen, he attended Harvard University but dropped out. He is currently married to Melinda Gates and together they have three children. Forbes has put him on the list of millionaires, ranked number two. He is listed as the most powerful person in the United States, and the fifth most powerful person in the world. In terms of the 400 wealthiest Americans, he is listed as number one. He is concerned by many the most generous person in the world given that his donations have totaled $28 billion to date. Bill Gates is credited with having assisted in the eradication of Polio in India. India announced their first year free of polio in January. The disease remains endemic in other locations such as Afghanistan, Pakistan, and Nigeria and Bill Gates has stated that he will continue to donate $200 million each year to end the disease. His foundation is responsible for spearheading a vaccine for malaria which had already produced promising results during clinical trials. He is also the founder of another organization, GAVI which is responsible for vaccine research. This group has already raised $4.3 billion from pledges in support of distributing drugs to fight off meningitis, diarrhea, and pneumonia in developing countries. The newest endeavor of Bill Gates is to fix agriculture. His foundation has now committed over $2 billion to distribute to farmers. Nearly one quarter of his net worth remains in Microsoft who shares are currently trading at a rate which is higher than in the last ten years. The remainder of his net worth is held in stocks such as Televisa and Ecolab, bonds, and equity. "]]> http://www.financialbuzz.com/news/how-rich-is-bill-gates? 2012-05-11 07:07:54 For a couple of years now I have been recommending real estate as a great investment option for what I see coming in the years ahead. I especially like rental property. However, several common concerns often come up when I recommend real estate as an investment. The first objection is usually, real estate is too expensive to get into. It can be very capital intensive and investors can need a large chunk of cash to buy or rehab properties. It can also require cash reserves at times, while finding a buyer or renter for the property. Then there are the regular maintenance costs and taxes to consider. Another major objection that I have heard since the financial crisis that began in 2008 is, “I can’t get financing.” It can be difficult getting financing for an investment property or a new business (to buy investment property) if you have bad credit or no credit. An investor may also have to find a deal where they will have a good amount of equity or put down a substantial down payment before the bank will provide financing to them. The third objection that often comes up is the headaches that come with owning rental property. You have to deal with tenants, and hope to find good ones who will pay on time and take good care of your property. If you use a property management company, you will have to find a good one that will keep your properties leased up and quickly address any issues that come up. The property management fees will also cut into your profits. There is another way to invest in real estate. This way will give you the benefits of having a property management company, it will eliminate the need for financing, and you will not need as much cash to get started. It is also more liquid, and easier to sell fast if you were in a bind. These alternative real estate investments are called REITs (Real Estate Investment Trusts). These REITs allow investors to buy into the company through shares of stock. Then the shareholders are paid a dividend based on the returns of the company. Many of these have dividend yields upwards of twelve percent. In fact one was paying over twenty percent when I first started recommending it last year. Two of my favorites are Annaly Capital Management (NLY) and American Capital Agency (AGNC). Besides their great yields, these companies also offer some protection during volatile markets and violent selloffs. While the overall market may take a beating, these stocks usually hold up pretty well. That also means there is usually limited movement to the upside, for those chasing capital gains, when the market is going up. This security is sometimes comforting for investors with a low risk appetite. These investments can be a good way of creating steady streams of cash flow for investors more interested in income than capital appreciation. Only a fool would believe that you can make double-digit returns on anything that is risk-free. Nothing is 100 percent risk-free. You must still do your due-diligence before investing in anything. That may take a little time, however it will be much less time than you would put in if you were actively managing the properties yourself. Disclaimer: The ideas presented in this article are not intended for investment advice. Any stocks mentioned are used for examples only. Before acting on any investment ideas, you should always do your own homework, check with your own financial advisors, and consider the suitability for your own goals and financial situation."]]> http://www.financialbuzz.com/news/real-estate-investing-without-the-headaches-even-with-limited-funds 2012-05-07 17:35:09 Carlos Slim Helu has a net worth of $69 billion. He is 72 years old and is the chairman of Telmex. As the richest billionaire in the world he is self-made, his money coming from the telecom industry. Currently, he lives in Mexico City, Mexico. He is widowed but has six children. His educational background includes a BA and BS from the Universidad Nacional Autonoma de Mexico. Is islistd as the richest man in the world, as well as the richest man in Mexico, and the 23rd most powerful man in the world. This is his third year as the richest man in the world. While a prominent business man, his true goals lie in philanthropic work which he actively pursues. Born in the same city in which he currently resides in 1940, he is of Lebanese descent. He was sent abroad so as to avoid being drafted into the then-Ottoman army. Following in his parents entrepreneurial footsteps, he was taught basic business principles and bought shares at a Mexican bank at the age of 12. He began working with his father, earning 200 pesos each week prior to studying engineering in college. He incorporated his first company in 1965 and one year later he bought another, bringing his net worth to $40 million. Not but a few months later he married his wife, with whom he stayed until she passed in 1999. His original business ventures included mining, real estate and construction. Soon he branches out and formed a conglomerate which included retail, food, tobacco, and industry, as well as purchasing interest in a printing business. In terms of his personal wealth he surpassed Warren Buffet in 2007 and in 2009 surpassed Bill Gates. He has established a philanthropic foundation which supports health, sports, and education in Latin America. He also sponsors museums in Mexico in support of revitalizing the arts and entertainment in Mexico City."]]> http://www.financialbuzz.com/news/carlos-slim-helu 2012-05-03 12:15:26 Mitt Romney has increasingly made headlines not just because of his private tax discussions and his wife, but now because of his relations with gun owners. In a speech he made following the resignation of Rick Santorum, Mitt Romney focused on gun rights and gun owners, by bringing to the public’s attention the notion that President Obama was assaulting the freedom to bear arms. Mitt Romney has begun to assume his role as the new Republican nominee by requesting a new beginning among the party. In response, the Obama campaign has made it clear that Romney cannot remove or change his current record. However, NRA members have recently put aside their differences with Mitt Romney in order to come to terms with gun control. Mitt Romney addressed a crowd in St. Louis of over sixty thousand gun enthusiasts at the annual meeting for the National Rifle Association. Those in attendance were preparing to inspect weapons and address political attacks currently being discussed by the political candidates. Romney brought the crowd’s attention to the upcoming decisions facing the gun lobbyists in November. He stated that he is running for the presidential bid because he has a vision for the future, one which protects gun rights and one which is quite the opposite of President Obama’s plan. Romney’s campaign has booked NRA addresses as a means of changing the focus of the newest debates and steering them toward a legitimate political discussion against President Obama. Romney has currently offered praise for the NRA officials who continue to stand up for gun owners and their second amendment rights. His speech has been referred to as the beginning of a movement which will force voters to choose between a liberal big-government and Romney. Romney framed this election as a choice between his limited government views and a heavy-handed method focused on regulation and taxes. He accused the President of impinging upon religious liberties in light of the recent insurance plans requiring contraception to be provided to employees of faith-based organizations."]]> http://www.financialbuzz.com/news/romney-and-guns 2012-04-18 13:39:31 A recent study has focused on the incorporation of electrodes into the brain in order to treat debilitating depression. The research focuses on deep brain stimulation and is headed for FDA approval soon. For this study, a neurosurgeon drilled two holes into the skull of the volunteer and implanted a pair of electrodes deep into the brain. The electrodes were battery-powered. This procedure focuses on a small part of the brain structure which is referred to commonly as Area 25. This area is the “ringleader” so to speak, for the circuits in the brain which control moods. The breakthrough research focuses on how this area is often overactive for depressed patients and as such, the doctor in charge of the research, Dr. Helen Mayberg has posited that patients who do not show signs of improvement after other treatment methods likely have their Area 25 in a sort of overdrive. These brain scan studies were published in 1999 and four years after, Mayberg attempted to apply stimulation to this area of the brain. While deep brain stimulation has been in use as a treatment method for certain disorders such as dystonia, Parkinson’s disease, and essential tremor since 1997, the low voltage was theorized to help severe depression shortly after. The first surgical experiment involved in the research began in 2003 in collaboration with a hospital in Canada and Dr. Andres Lozano, a neurosurgeon. There were six patients who had volunteered to undergo the surgery, all of whom had failed other treatment methods. They were awake during the procedure and reported changes within minutes of the electrodes being turned on. Some said that colors were more intense and the room brighter. Others described feeling more connected. The results surpassed the expectations of the doctors. Patients described seeing things for what felt like the first time. The patients underwent six months of stimulation and out of the original six, four were significantly better. The experiments have demonstrated the advancements in brain science to date, but also demonstrated that there remains much to learn."]]> http://www.financialbuzz.com/news/electrodes-can-treat-depression 2012-04-18 13:36:51 In a continuation of his trial, Anders Breivik said that the outcome of his case can only be the death penalty or an acquittal. He is charged with killing seventy seven people in July last year and says that a lengthy stint in jail would be nothing more than a pathetic punishment. However, Norway does not use the death penalty. He also stated that he was surprised that he made it through the first day of attacks. He has been quizzed by the prosecution about his potential links to militant nationalists and by the third day they were attempting to disprove that he was a member of a far-right network in Europe and that it in fact did not exist. He made his statement about jail being a pathetic punishment while he was being cross-examined. He said that twenty one years in jail would be pathetic and the court should give him the death penalty instead. Last year he killed sixty nine people who were attending a youth camp for the Labour Party and an additional eight after he set off a bomb in a van located outside of the government buildings. He has claimed that the attacks were in an attempt to defend Norway and its citizens from multiculturalism. He told the court that he assumed his chances of surviving the first day of attacks would be less than give percent. When questioned about his religious beliefs, he said that he was a militant Christian who sought to prevent Europe from becoming de-Christianized. He stated that he believed in God and that there was life after death and did not want to instigate a Christian theocracy. He also said he was anti-Nazi. He made the statement that he believes only two percent of Norwegians were ethnically Norwegian. At this time the courts are attempting to determine whether or not he is sane. Part of his testimony included telling the courts that militant nationalists throughout Europe had faced problems since the Second World War because their role remained small and that he and his fellow nationalists had dreams of inspiring others. He also stated that he met a founding member of the Knights Templar in 2001 who was a Serb national currently living in Liberia and that his English mentor lived in London under the code name Richard the Lionheart."]]> http://www.financialbuzz.com/news/anders-demands-death-penalty-or-acquittal 2012-04-18 13:34:24 On Wednesday Cambodia became a part of the capital markets, opening its stock market for trade. This move was done in an attempt to attract foreign capital to the nation. The trade began with a single stock for the Phnom Penh Water Supply Authority. Initially, the public offering was for thirteen million shares. This totaled fifteen percent of the company which is state-owned and according to Tony Yang Securities, the underwriter, was also seventeen times over-subscribed. Interest for this stock began with Thailand then moved to include Vietnam. Now the biggest demand for the stock comes from China, Japan, Korea, and the United States according to the managing director for Tong Yang Securities. For the last decade the economy in Cambodia has risen above 8% each year but the nation remains a financial frontier. Right now Cambodia’s government has high hopes for the stock exchange, positing that it will help to increase the value of the national currency against U.S. dollars. Right now, over eighty percent of the cash which is traded in Cambodia is U.S. dollars, compared to only sixty percent in the 1990s, as reported by the International Monetary Fund. This trade arrived nine months following the original launch of the stock exchange and as such, it could take many months or years before additional companies are listed on the stock. This is because the companies must be audited for a minimum of three years by a professionally accredited accounting firm before they can be open for stock trade. Very few companies in Cambodia have ever started this process but the IPO for Telecom Cambodia is said to start next year. So far Cambodia has made great progress in terms of stabilizing itself following war-torn decades of the 1970s and 1980s, popularized by the brutality of the Khmer Rouge regime. However, the country still faces a great uphill battle. According to the Corruption Perceptions Index, the country is ranked 164th out of 182 countries. There are still many opportunities in Cambodia given that half of its population is under twenty five years of age. However, the Cambodian Stock Exchange is still at risk for volatility in these early phases; the shares will likely go up and down drastically as people initially see it as a great investment, then start to sell."]]> http://www.financialbuzz.com/news/cambodia-begins-stock-market-trading 2012-04-18 13:01:51 A statement was issued by Mitt Romney’s senior advisors that he was simply discussing ideas about changes to the tax code but not making policy announcements. This statement followed a meeting with donors wherein reporters overhead talk of significant changes to the current tax code. Many officials and campaign affiliated personnel have downplayed the talk by Romney of tax changes for the wealthy including the elimination of deductions for local and state taxes, closing federal agencies which are associated with housing and education, and putting an end to mortgage interest deductions on second houses. Such remarks by Romney overheard by reporters for the Wall Street Journal and NBC News have gathered high donations from people in Palm Beach, FL but have also initiated a series of attacks by President Obama’s campaign and the Democrats. Advisors for President Obama have used such comments as evidence for campaigning that Romney continually hides the truth from the public. The Democratic Party has every intention of portraying Mitt Romney as someone willing to only reveal his true presidential plans to well-connected donors rather than the public, stating that he only believes high donors have a right to know the programs he intends to cut. Democrats have also used the fact that a handful of his donors are not being revealed by Romney and that he has only released two years’ of his income tax returns. They have made statements that he has a disturbing habit of not revealing truth. On Monday, Romney attempted to shift direction at a Tea Party meeting by focusing on President Obama’s “Buffet Rule” and that the wealthiest people pay the highest tax rate. Romney made a declaration that President Obama is showing hostility toward entrepreneurs with federal spending, expanding regulations, and tax policies. At the fundraiser on Sunday, Romney and his wife offered casual conversation to those in attendance, such as those who watched Fox News were the true believers of the Conservative Republican agenda and that the Republicans now needed to expand their focus to independents and women. Romney is also aiming to get the Hispanic votes. "]]> http://www.financialbuzz.com/news/advisors-downplay-romneys-tax-talk 2012-04-17 11:55:57 Anders Breivik took the stand in a case where he was accused of using a bomb and gun attacks in Norway last year in July, killing 77 people. He began by telling the courts that he carried out what is the most sophisticated and spectacular attack in European history since the Second World War and that he would not hesitate to do it again. He admits to bombing the youth camp but is not pleading guilty to charges of mass murder and terror. He said he acts were not based on evil but on good and he should therefore be acquitted. He lawyers warned early on that his comments would be found upsetting by many Norwegians. His lawyers noted the concerns of the families of the victims that Breivik would use this trial as a soapbox from which he could draw more attention to his persepctive but added that he nonetheless had a right to offer an explanation. His testimony and the testimony of his witnesses will not be broadcast. The evidence presented by Breivik will play a crucial role in determining whether or not he is criminally insane. There are currently psychiatrists in the room who are closely observing his behaviors and actions. The trial is expected to last for ten weeks and at the center of it is the question of his sanity. Breivik has already stated that he does not recognize the court or its authority. In spite of the fact that the judge repeatedly interrupted him to ask him to shorten his speech, he continued to speak vehement criticisms of the government of Norway including liberalism and multiculturalism which supported South Korea and Japan. He is under the impression that liberals are to blame for ruining Norway which is why he attacked the summer camp and government offices. He stated that he was not frightened at the prospect of prison for life because he was born in what he deems a prison: Norway, where he has been unable to express his beliefs. Breivik claimed that he was speaking on behalf of the resistance movement, though he previously claimed to be a member of the Knights Templar. No evidence has been found that such a group is in existence. Prosecutors played recordings from the day and descriptions of the manner in which the victims were killed. While evidence was being presented against him, Breivik showed no emotion, though he did shed a single tear as the courts played an anti-Islam video he had posted the day of his attack. He lawyers released a statement later wherein they noted that he allegedly cried over his attacks stating that they were cruel but they were also necessary if he wanted to save Europe from an ongoing war. On July 22nd last year, he detonated a bomb outside of the government buildings in Oslo which killed eight people. He then went to Utoeya where he was dressed as a police officer and shot 69 people who were attending the youth camp run for the Labour Party. He is 33 years of age and was found insane last week based on one examination, but another examination said he was mentally competent. Should it be determined that he is criminally insane then he will be committed to a psychiatric facility. However, if he is jailed he will face up to twenty one years behind bars which could be extended to a lifetime behind bars. The courtroom was specially built for this trial so as to accommodate over two hundred people. There were glass partitions established to offer separation between the families, victims, and Breivik. "]]> http://www.financialbuzz.com/news/trial-for-norway-massacre-begins 2012-04-17 11:53:13 The president of Argentina made an announcement Monday that their government would seize the majority stake in the largest oil company in the nation, YPF. This move will reassert state control over the economy of Argentina but has added to tensions with Spain as well as the European Union. The president quickly removed the chief executive of YPF and named two new top aidswho would be responsible for running the company. Under the new plan which was announced via national television, the government of Argentina will control 51 percent of the stake which is currently under the ownership of Repsol YPF, a Spanish energy company. The provinces of Argentina will be given 49% of the stakes. This plan is expected to receive immediate approval once submitted to Argentina’s Congress. Meanwhile, the Spanish government had pledged to retaliate though the manner in which it will do so has yet to be specified. An emergency cabinet meeting was called in Madrid and the Spanish foreign minister made the announcement after that Spain condemned the move as it broke a cordial climate and previously held friendship between the two nations. Criticisms have also been given by the European Union. Currently Repsol has ownership of 57% of the oil company and plans to study any and all legal options which are available in order to defend the interests of the company and its shareholders against this forced sale. It remains unclear how the current shareholders of YPF would be affected by this sale though a tribunal has been put together to determine the compensation shareholders would receive for YPF shares. The shares have fallen in the last few days given the likelihood of a takeover. After the announcement was delivered on Monday stocks dropped 11%. Right now the current stock-market value for the company is $7.7 billion."]]> http://www.financialbuzz.com/news/argentina-will-control-oil-company 2012-04-17 11:45:26 A report issued last Tuesday stated that there was a record low for teen birth rates according to the National Center for Health Statistics. However, the same center followed additional numbers on babies born in America, information gathered from men and women between the ages of fifteen and forty four. The survey included face-to-face interviews of over twenty two thousand people between the years of 2006 and 2010. The report offers a few new pieces of information, the first of which is an increased number of births to unmarried couples who were cohabitating with their partners in previous years. While this might be news, we already knew that children born out of wedlock were increasingly popular over the last few decades. In 1970, only 11% of babies were born to unwed mothers while that figure in 2009 was up to 41%. One quarter of women between the age of fifteen and forty four had a baby prior to their first marriage with an additional 5.2% of said women having the baby within seven months of their wedding. Also found between 2006 and 2010 was the fact that cohabitating couples represented 22% of these first births, a figure which was only 12% in 2002. When taking into account all pre-marital births, cohabitating couples represent half of them. The center reports that this information is studied because of the differences in terms of resources available to children born with only one parent. They are statistically less likely to have stability and as such, will endure additional environmental stressors during their lifetime. For the first time this survey distinguished between Hispanics born in the U.S. and those who were foreign. For example, 78% of those who were foreign-born had a biological child while only 51% of those born in the states did. Aside from this, the majority of the statistics remain similar to the statistics which were reported in 2002. For example, the mean age for women who had their first child was 23 years while for men it was 25. Women in America had an average of 2.1 children and white women were less likely to have children and expect to have them when compared to other races. Men and women with higher educated waited longer on average to have children and often had fewer children. Women who had a household income which was 150% lower than poverty level were more likely to give birth to at least four children. There was also an increase in the number of women who began having children after they turned thirty five and many of these continued to have two or more children."]]> http://www.financialbuzz.com/news/increase-in-cohabitating-couples-having-children 2012-04-17 11:42:28 It has come to the attention of the health population that there still exists no viable screening for ovarian cancer. Ovarian cancer is responsible for the 5th leading cause of death among women and the closest test option we have is the CA 125 blood test. According to Dr. Otis Brawley, there remains a need for a test which does not flag half of the women who take the test, and instead only focuses on those who truly have ovarian cancer. Dr. Brawley is the chief medical officer for the American Cancer Society. He has authored books on being sick in America and continues as an expert on cancer. In an interview with CNN he stated that the only existing test right now is actually recommended against because it will say that half of those who take it, are at risk which outweighs the benefits. The doctor supports the idea that a screening test is actually more harmful than helpful for many women because those who are at risk are then subject to a list of medical procedures which can cause greater harm than benefits. As of late the problem remains that there are no benefits associated with ovarian cancer screening. The current test uses chemotherapy or surgery to treat those who are at risk because of age and gender. The doctor continues to demand that a better test be researched and found for ovarian cancer screening, one which flags fewer people who do not have ovarian cancer. The new screening would work better in cancers which remained localized for extended periods of time, but the problem with ovarian cancer is that it can spread early on throughout the abdomen while the tumor is still small. Right now the current routine screening will focus on women who are at a higher risk because of family history of ovarian cancer and will instead ignore those women who are complaining of lower abdominal discomforts. Dr. Brawley hopes that bringing more attention to this fact will help to encourage additional research and funding related to uncovering more effective measures. "]]> http://www.financialbuzz.com/news/ovarian-cancer-screening 2012-04-16 13:13:51 The Taliban has warranted a lot of attention this weekend with the biggest jailbreak to happen in the history of Pakistan. Taliban fighters stormed Bannu and freed 384 prisoners who were being held in the Northwestern town. One of the inmates was a militant commander who attempted to assassinate Gen. Pervez Musharraf in 2003. The assault began at 1:30am with 100 militants arriving in trucks armed with small arms and grenades. They blasted the main gate and then proceeded to open cell doors and free many inmates who were condemned to death. The militants assumed complete control for two hours with prison guards offering little resistance. A spokesman for the Taliban group said they have been planning this operation for months and managed it without losing any men. A search was conducted in adjoining towns, cell phone networks were closed, and by evening eleven prisoners were found with another twenty voluntarily returning. It is predicted that many of the fugitives are headed toward the lawless tribal region of North Waziristan to join the militant groups. The ability of the Taliban to attack Pakistan has eroded over the course of the past year, but this success will not doubt provide increased morale. The jails are clearly not equipped the handle a military assault in spite of additional money, weapons, and training the provincial police have received. The break-in demonstrated discipline on behalf of the Taliban and disorganization on behalf of the Pakistani security forces. The police were kept at bay by roadblocks set forth by the militants and they were only able to reach the prison two hours after the initial break in. Current images show the empty cells, bullet casing around the ground, and the destroyed prison gate. An advisor stated that at least twenty of the escapees were very dangerous, one of whom was a junior officer in the air force who was waiting for his death sentence, as he was a member of the group who attempted the assassination in 2003. There were six Pakistani Air Force soldiers who were convicted in the plot. Five of them were sentenced to death. Officials admitted that this break-in demonstrated their inability to protect even the most important installations. The security officer in charge acknowledged that the successful break-in was both a security and intelligence failure due to the fact that there was no response to the two hours of bombing and shooting and no pre-emption. It appeared that there were no real efforts to stop those who were breaking in."]]> http://www.financialbuzz.com/news/complex-attacks-and-freed-inmates 2012-04-16 13:11:57 Rick Santorum left the race recently, paving the way for Mitt Romney to win the nomination for the Republican Party. Or so we thought… While it is almost unanimously known that Mitt Romney will be the challenger against President Obama, Ron Paul and Newt Gingrich have stayed in the race and continued to campaign. They both want influence in the upcoming fall debate and neither appear to be leaving the campaign any time soon. In spite of Santorum leaving the race, Gingrich has made it clear that he will not follow. He is committed to remaining in the race until the National Convention in Florida to provide choices to the conservative movement. He even asked for Santorum’s support and the support of his followers. Due to financial difficulties, Gingrich has reduced his formal campaigning which has all but solidifying Romney’s place as the fall nominee. However, Gingrich remains in hopes that his continued presence will help to better frame the national political debate. In terms of Ron Paul, he has indicated from the beginning that he is here to start a movement, not just to continue for the bid for office. In spite of the fact that he has all but disappeared from political radar, he is still making upcoming campaign stops and sending out emails to his supporters. He has continued with the support of a younger generation of backers, to send supporters to state political conventions and local political conventions in an effort to collect delegate for the national convention. He continues to seek a prominent role in the national convention, hoping that his criticism of the cost of war, deficit, and Federal Reserve are heard. He has also continued to hold fundraisers and engage the national media. The fact that both men remain acts as a signal that the national convention will feature spirited discussions regarding the conservative movement and its relation to defeating President Obama. "]]> http://www.financialbuzz.com/news/paul-and-gingrich-remain 2012-04-16 13:09:07