CROWD ELEVATOR

With the recent abrupt devaluation of Kazakh tenge by 20 % in a few days and devaluation of Kyrgyz som I've become curious about the situation with the other currencies in emerging markets. It looks like Kazakhstan and Turkey are importing gold to keep its currencies from devaluation. It turns out some of the emerging market currencies are sliding against the dollar as well. That is, Argentinian peso devalued by 15%; Turkish lira immersed; currencies of South Africa, Brazil, Russia and many others have come under the pressure. On my personal example working with some different currencies I have noticed the change. Last year I've recorded that $1 equals to 50 afs (afghani) and this year $1 costs 56 afs. Looks like not only Kyrgyz currency and the currency of our neighbor Kazkhstan are sliding down. Weakening of Kyrgyz som is also evident as it is mainly tied to the Russian ruble, comments the National Bank of Kyrgyz Republic. While the situation with our domestic currency...

Following my previous article on the issue of a huge incarceration rates in the US. Let me clarify that I am not trying to defend or justify the imprisoned. The only thing that interests me is the economics behind the crimes/prisons. Earlier in the year, President Obama signed the amnesty for illegal aliens that would forgive undocumented people and as a result award them with legal status (Green Card). This in turn will benefit 12 to 20 million undocumented persons currently being in the US. Looks like the authorities accounted that it is more beneficial as for the state budget in terms of extra taxes to be paid by the new legal aliens (up to 20 mln!), so for the illegal immigrants as well. In 1986 through Immigration and Reform Control Act (IRCA) was the first and only amnesty for a large group of people. Back then it was 2.8 million undocumented aliens. Just imagine the benefits to the state budget from this act. First of all there is no more need to pay $160 per imprisoned ...