Newark is the largest populated city in the state of New Jersey. Four casinos closed down in Atlantic City. Does it mean that people stopped going to casino and stopped caring about entertainment? I don't think so. America's economy is getting better, and so does the need for entertainment. Atlantic City is far from the majority of New Jersey's residents. The revenue goes to Philadelphia and New York, except some tax dollars.
In this day and age, we need a casino that is more accessible. Newark is the right choice to place one. The County Executive and Newark Mayor are lobbying for a casino. For a long time after the 1967 riots, Newark was an afterthought. Now, Newark is growing, and coming back to the limelight like New York. Now is the time for Newark to have a casino, which gives residents jobs and an economic boost.
Two murderers escaped from a maximum security in New York. In the five days after the escape, the police, federal investigators and security personal could not find them. The prison is only 20 miles away from the Canadian border, and the news suggests they might have escaped to Canada or even Vermont. They are dangerous prisoners and smart as well. Hopefully, the police can capture them before they hurt anyone.
The World Bank estimated world economic growth to 3% in January. But now they are estimating it at the rate of 2.8%, which is a significant drop. The growth decline is due to the US growth rate being less than expected. According to the Wall Street Journal: "The development institution on Wednesday said that it now expects the world economy to grow by 2.8%, 0.2 percentage point slower than it estimated in January. 'Global growth has yet again disappointed," said World Bank Chief Economist Kaushik Basu.' "Sharp contractions in Brazil and Russia, alongside weaker growth in Turkey, Indonesia and scores of other developing economies are offsetting healthier growth in Europe and Japan, the bank said in its Global Economic Prospects report." Even the US economic growth was reduced from expected, 3.2% in January to 2.7% now for the year 2015.
President Obama ordered the deployment of 450 troops to help the Iraqi army, but not to participate in a battle. I think that is the right move. We should not be a part of it, but we can advise them and show the tactics on how to win the battle. The world has a big fear from ISIS (Islamic State in Iraq and Syria) and ISIL right now. Their intention is to spread violence in my opinion. In the name of God, Jesus or Allah, peace is the way to spread the word to the world. I know that there are many problems in the world, and some persons do not understand simple language, but the majority of the world is innocent. Why punish the innocent people, I don't understand. The rage should be only against those who create a crazy atmosphere due to their selfish reasons.
US-China relations are tense lately. The US, the largest importer of merchandise from China, realized its declining economic power in the world. As China becomes more of a strong economic power, the US owes $1.3 trillion to China. It is very important for us to start making compatible products, both in price and quality. I understand our labor rate is very high, but we must use our labor force with faster production and use the best of their ability and intelligence.
Have a wonderful week. I'll talk to you next week.