Tower of Babel Moment
by Reverse Engineer, Doomstead Diner
Last week over in China, the Chinese had to
SHUT DOWN Beijing due to
SMOG problems. This is pretty radical, since far as I know not even Los Angeles ever got shut down due to Smog, and it was pretty nasty there particularly before CA Greenies went big time into emissions restrictions on the plethora of Carz that started hitting the LA Freeways in the 60s and 70s.
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JP Morgan: 13 is an Unlucky Number
Econintersect: Reuters reported Saturday evening (19 October 2013) that a source has informed them the U.S. Justice Department has reached a tentative agreement with JP Morgan Chase (NYSE:JPM) for a fine to settle complaints resulting from a government investigation of bad mortgages the bank sold to investors in 2008 and prior years. Recently the figure of $11 billion had been rumored as a possible settlement, although initially it was mentioned that the government had floated the idea of $20 billion. The latest report fromReuters says the number agreed to is $13 billion.
What We Read Today 20 October 2013
Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list is Bill Black's discourse on the false meritocracy arguments of the wealthy ........ and the last article is about the nearly complete recovery of global stock markets following the Great Financial Crisis.
Roman Dismay As Thousands Protest Italy's Worst Recession Since WWII
Italys economy ministry has been attacked by furious protesters, angered by the governments cost cutting drive. Thousands took to the streets, denouncing the ongoing austerity measures for failing to dig the country out of recession.
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The Week Ahead: Earnings Hazards?
Will Disappointing Earnings End the Stock Market rally?
by Jeff Miller, A Dash of Insight
It is time for a return to normalcy!
I expect much less Washington politics and much more focus on corporate earnings. While economic data reports are still delayed and distorted, we will gradually get back to analysis of economic fundamentals as well.
Nearly Half a Million Obamacare Applications Filed?
Econintersect: The Associated Press is reporting that 476,000 Obamacare insurance applications have been submitted in the first 18 days since the public exchanges opened (or tried to open). The number is reported to have come from Administration officials and covers all the various exchanges, state and federal. One of the factors in that has contributed to whatever success has been achieved is a 50% increase in employees manning call centers as the old telephone technology attempts to fill in for the computer system failures.
Is the Jump In Initial Unemployment Claims Caused by Government Shutdown
Skewing of Initial Unemployment Claims Ends This Week- Here's What To Look For
by Lee Adler, Wall Street Examiner
First time unemployment claims rose sharply as of October 5, as the effects of the chaos in Washington began to ripple through the economy. However, as I pointed out last week, the recent strength reflected in the claims data 'should change radically in the weeks ahead. In the short run the data will weaken, but more important will be what happens after the government reaches a deal on the budget and the debt ceiling.'
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How Banking Invaded America
Written by Miguel Perez-Santalla, Bullion Vault
Think the banking crisis can't be repeated...?
Columbus Day is typically a happy and joyous celebration for Americans wherever they are, not just in the United States, but on all continents.
State-to-State Variation of Obamacare Premiums
Econintersect: A middle-level coverage plan for a 27-year old costs as much as 2.7 times as much in the most expensive state (Wyoming) as in the least expensive state (Minnesota). The numbers have been compiled by Life Health Pro for the second lowest silver plan using data from 47 states and the District of Columbia.
USA Navy's Shipbuilding Needs Through the Lense of the CBO
Econintersect: The government shutdown caused the cancellation of the christening of the US Navy's newest ship - USS Zumwalt (DDG-1000) - this past week.
Macro Fiscal Policy in Economic Unions: States as Agents
by Gerald Carlino and Robert P. Inman - Research Department, Federal Reserve Bank of Philadelphia
The American Recovery and Reinvestment Act (ARRA) was the US government's fiscal response to the Great Recession. An important component of ARRA's $796 billion proposed budget was $318 billion in fiscal assistance to state and local governments. The authors examine the historical experience of federal government transfers to state and local governments and their impact on aggregate GDP growth, recognizing that lower-tier governments are their own fiscal agents.
Infographic of the Day: What you should post on Facebook to get more likes and shares
People love to share different type of content on Facebook and when friends view the content and like the page, it would be the great feeling. Here are some points of post that inspire people to share your content.
