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Big Problems: These Countries Are Facing Demographic Time Bombs – Money Morning

When a big economy hits the shoals, there are options.

You can take a Keynesian approach. You can take a Friedmanian approach. There are Bernankes, there are Nodas , the Austrian School, the Chicago School, expansion and contraction – however a government wants to play it, whatever the ideology, there are options and precedents for getting the economy going again.

Court Outlaws Taking Advantage of Unpaid Interns – Money Morning

Last week, a federal judge in New York ruled that Fox Searchlight Pictures, Inc. broke state minimum wage laws and federal labor law when it didn’t pay its interns, Eric Glatt and Alexander Footman, for their work on the production of the film Black Swan.
Glatt was an unpaid accounting clerk for Fox Searchlight. His responsibilities included such mundane tasks as filing, getting signatures, and handling petty cash.

How to Make $2 Million in One Interstate Drive – Money Morning

If you think you’re in the wrong line of work, and barely making ends meet, maybe what you should be doing is running cigarettes north along the I-95 corridor, from Virginia to New York.

No, seriously – because some enterprising individuals have a lucrative sideline doing just that.

The Bureau of Alcohol, Tobacco, and Firearms has even put an exact number on just how lucrative.

The ATF says smugglers could make $1,944,000 running just one truckload of cigarettes from a low-tax jurisdiction like Virginia to a high-tax jurisdiction like New York.

In Virginia, tax on a pack of smokes is just 30 cents, compared with a whopping $4.35 per pack in New York. New York City’s local tax is even higher, with $11 packs of Parliaments not at all uncommon.

Fully 24% of all cigarettes sold in Virginia are taken out of the Old Dominion to places with a less-favorable tax scheme.

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Eurozone Debt Crisis: What to Expect if Greece Dumps the Euro

The only certain thing if Greece leaves the Eurozone is the uncertainty that will certainly follow.

Unable to form a coalition government during May elections, Greece has been forced to hold a second vote on June 17.

In the balance is the future of the Eurozone itself as a “Grexit” looms large.

So much is riding on the outcome that U.S. President Barack Obama and other leaders of the G-8 have conveyed their optimism that Greece will remain in the Eurozone when they convened for a summit on Saturday aimed at keeping Europe’s economic woes from stretching around the globe.

“All of us are absolutely committed to making sure that growth and stability and social consolidation are part of an overall package,” President Obama said.

But many other principals and economic experts are not as committed and believe a Greek exit would be the best move in the long run.

The question is what impact its departure will have beyond its own ailing borders if Greece renounces its debt and leaves the Eurozone.

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