News Bytes

Economic crisis in the US doesn’t affect pop star Madonna

According to the New York Post, the singer bought a red Gregorian-style townhouse in New York for $40 million (€ 30.4 million). The 26-room property on the classy Upper East Side even was a real bargain, the paper reports: she had to pay $5 million less than the original asking price. There is enough room in the residence to accommodate Madonna’s family, which consists of her own two children and one adopted child: the article states that the house has a total of 14 bathrooms and – which is very rare in the middle of Manhattan – a big garden. However, according to the paper neighbors report that the townhouse vibrates at regular intervals from the nearby subway line.

After the separation from her British husband Guy Ritchie, Madonna turned her back on the British capital of London where she had been living for several years and moved to New York. According to the New York Post, she is also currently looking for a country estate in the New York area.

Obama wants to modernize railway system

During his tour of Europe, Obama already expressed enthusiasm about high speed trains like those in France in Germany. Now, he is apparently really planning a similar rail system in the US  and has already allocated $8 billion to the project. The US can no longer afford not to modernize their rail system, Obama said. A modernized railway would lead to less clogged highways, in addition to less air pollution and less energy consumption.

The new railroad system is a long-term project, the president admits, but, he continues, the time is right to start realizing it. $8 billion (€6.1 billion) of the government’s $787 billion stimulus package have been dedicated to this. Obama insisted that a high speed rail system was not a pie-in-the-sky vision of the future, but had to be realized now. He also pointed to already existing successful high speed rail systems in Europe and Asia.

US railway company Amtrak has one high speed rail corridor, the nine-year old Acela Express between Boston and Washington. Instead of 240 kph (150 mph), the speed the trains were built for, they only reach an average of 129 kph (80 mph) due to curving tracks and slower moving freight and passenger trains that share the same route.

James Bond-like summer job

US intelligence services offer summer jobs for students. For 12 days, 30 students will have the opportunity of getting first-hand experience in the field of intelligence – including access to confidential files. But first of all, they will have to undergo an in-depth security check. US security policy doesn’t work without its intelligence services and police authorities. There are the National Security Agency (NSA) and the Central Intelligence Agency (CIA), the Federal Police, but also organizations like the Coast Guard Intelligence (CGI) and Army Military Intelligence (MI). They are defending America against enemies at home and abroad – and they always need new recruits.

That’s why this summer students can, instead of waiting tables or mowing lawns, apply for a really exciting summer job, said Dennis Blair in Washington. As National Intelligence Director, he offers 30 young people the opportunity to serve their country for almost two weeks. Eligible are intelligent and motivated students at least 21 years of age – US citizens with an excellent grade point average who are eligible to be granted security clearance.

Shopping hasn’t been this cheap since 1955

For the first time since 1955 there is no annual inflation in the US. According to the Department of Labor, prices dropped 0.4 % year-over-year in the month of March. That hasn’t happened since 1955, the Department stated. The US Consumer Price Index fell 0.1% in March, after increasing 0.4% in February, and 0.3% in January. There had been no increases during the previous six months.

Financial experts expected an inflation rate of 0.1% in March. However, the US Federal Reserve had already emphasized that prices in the US would probably not fluctuate, because of the dramatic recession and falling oil prices during the spring months.

Especially financially suffering US industries, such as, for example, the automotive industry, are trying to attract customers with discounts and special offers. “The economic downturn will keep price pressures down. Deflation is probably the greater worry at this stage,” says the chief financial economist at the Bank of Tokyo-Mitsubishi UFJ in New York.