By Don Quijones: Governments are seeking to reduce cash transactions. The reasons are obvious: as most countries struggle to rein in public spending, governments are frantically surveying their surroundings for anything of value to steal or pawn.
According to Japan’s state religion of Abenomics, devaluing the yen would boost exports and cut imports. The resulting trade surplus would jumpstart the economy and induce Japan Inc. to invest at home. It would save Japan. But the opposite is happening.
By Jim Probasco, Benzinga Staff Writer: Debunking academic studies that the media inflicts on its hapless readers. Or why you shouldn’t believe everything that comes out of Ivy League academia (hilarious but serious).
By Hilary Barnes, Euro Politico Twitting: Someone in the French government deleted 3,300 French names from a purloined list of accounts at HSBC Switzerland. Their revelation would have left the despised French "political class" red-faced and in deep trouble.
Argentina's Drunken Devaluation Just A Hiccup Before Throwing Up, Passing Out, Waking Up On Floor To Face Reality
By Bianca Fernet, Argentina: Historically speaking, Argentina is really only unquestionably the best at one thing: creating and then surviving economic crises.
On Friday, when stocks were plunging, natural gas soared nearly 10%. The highest close since June 2010. Up 20% for the week. Up 170% from April 2012. And it’s just the beginning. Because after the glut comes the panic.
By Executive Report with Southern Pulse: The US and EU approved the easing of some sanctions against Iran. And now a worldwide mad scramble to do business has started.
By Nick Cunningham, Oil Price.com: Shell’s earnings plunged, eaten up by huge costs, delays, and lower production. Chevron’s Gorgon LNG project is $20 billion over budget. Italy’s ENI blows $50 billion on the Kashagan oil field, five times what it expected. Now oil companies are cutting back, with consequences.
Statistically speaking, the Fed’s heroic actions conquered the Great Recession years ago.The economy has been growing at a measurable clip, statistically speaking, with the unemployment rate inching lower over the years, though again, that’s just statistically speaking. But most Americans, struggling to make ends meet in the real economy far from the hoopla, hype, and buzz of Wall Street or Silicon Valley, have a more accurate answer.
By John Ward, The Slog: At times, I’m no longer sure it’s worth deconstructing the employment and earnings statistics for the UK, so blanket and blatant are the optimistic trumpetings of them among the well-heeled classes and their media. But –
By James Burgess, Oilprice.com: A new analysis of data from the Pipeline and Hazardous Materials Safety Administration sums up the costs of of servicing the US oil boom by rail.
By Mark Rumold, Staff Attorney, Electronic Frontier Foundation: The Privacy and Civil Liberties Oversight Board, an independent and bipartisan panel appointed by the President, turns up the heat on the President.
The steep rise in income inequality is a consequence of a spectacular reallocation of income from labor to capital. It repressed wages and created the biggest profit bubble ever. But pressures are rising. The bubble will get pricked. There will be consequences.
By Marin Katusa, Chief Energy Investment Strategist: Investors who want to know how the energy sector will be doing this year are, in my opinion, asking the wrong question. There really is no such thing as "the energy sector."
By Hilary Barnes, Euro Politico Twitting: Fallacious economic thinking is prevalent among politicians, but one had hoped that French President Hollande, who taught economics in his time, knew enough to make him a relatively safe bet if elected president.
The salary you must earn to be able to buy the median home in San Francisco is $125,071. That home costs $705,000 – up 24% from a year ago. San Francisco tops the list of the most unaffordable cities. Households earning the median income of $51,000, well, forget it.
Jim Probasco, Benzinga Staff Writer: Consumers trust Microsoft more than Apple? More than Samsung or even Sony? Really? Based on a study by global analysis and advisory firm, Forrester Research, they do.
‘Wealth Effect’: Spiffy Hotel Rooms For The 85 Richest Folks Who Own As Much As Poorest Half Of Humanity
Now that we learned that the 85 richest folks own as much as the poorest 3.5 billion, we want to know where they’re staying when they come to town for dinner. We already know where the poorest 3.5 billion are staying: in shacks, hovels, and moldy apartment blocks.