Blog Storm

A first step must be a full audit of drug crime to find out the true cost to the nation. Ministers should signal that they are ready to radically rethink drugs policy, including examining seriously the case for further decriminalisation on a drug-by-drug basis. It is self-defeating to make criminals out of addicts, even in the emotive cases of heroin and cocaine.

I’ve long thought that economics is the way to fight drug smugglers and cartels, and that the best way to eradicate the horrendous knock-on effects of the drugs trade is to simply make it unprofitable. For decades we’ve been trying to do this by increasing the risks associated with drug production and selling - but increasing the risks only increases the cost of the drugs, and hence the profits for the cartels. I think it’s about time we tried fighting fire with fire: treating drug suppliers as economic agents, and simply undercutting them on the legal market to a degree that the drugs trade is, quite literally, no longer profitable for them.

NEW YORK, June 2 (Reuters) - American homeowners say mortgage rates have the potential to rise above 8 percent in the next year, but are not worried that higher rates and a slowing housing market will hurt the value of their homes.

Are home owners mad, if rates go above 8% there is a very good chance it will hurt house prices as less first time buyers enter the market!

8% would be a possible disaster, could lead to a recession in the economy isn’t handled wisely!

ING Direct’s fourth annual homeowners survey, released Friday, said people who have owned homes for at least three years expect new mortgage rates to rise 1.6 percentage points over the next 12 months.