What We Read Today 01 November 2014
Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
- China's October factory growth unexpectedly hits five-month low: official PMI (Koh Gui Qing, Reuters) The official PMI report for China came in at 50.8 for October, a little below expectations of 51.2 and September's reading of 51.1. Slowing order backlog and reported higher costs were the biggest negatives. Costs are a curious element since the official PPI (Producer Price Index) has been deflating for 2 1/2 years. Perhaps labor costs? That would actually be a good thing as rebalancing will require wage increases. More from GEI News later.
Signs The Economy Is Back to Normal - The "Trouble" at the Ports of Los Angeles and Long Beach
Written by Steven Hansen
For those who read my 22 October 2014 post on sea containers, you would have understood that imports of sea containers are at historic highs. There are loads of mass media reports on ships waiting at anchor to be unloaded. It did not help that a terminal fire late last month shut the ports down for a portion of a day - with one terminal damaged and out of action.
Read more >>
Bring on Fear and Bring on Terror in the 2014 Midterm Election Rhetoric
Are you afraid of the dark but that is exactly what could be happening in election year terror rhetoric in the 2014 midterm elections.
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Trucking Tonnage Index Unchanged in September 2014
Econintersect: The American Trucking Associations' (ATA) trucking index was unchanged in September 2014 following a 1.6% increased in August 2014. From
ATA Chief Economist Bob Costello:
How to Spot a Market Bubble
by Saxo Capital Markets
According to the Financial Times an asset bubble occurs:
"when the prices of securities or other assets rise so sharply and at such a sustained rate that they exceed valuations justified by fundamentals, making a sudden collapse likely."
A High Oil Price Might Be a Good Thing for the World - Here's Why
by Scott L. Montgomery, The Conversation
Oil prices have fallen dramatically since August - and, rather counter-intuitively, this could be a bad thing. As of late October, the price of oil has fallen from US$110 per barrel (bbl) to below US$85. There are predictions it could further descend to US$60-$70. While a drop was expected, due to lower global demand and oversupply, such levels would be radical indeed.
A Decade of UK Contributions to the EU Budget
from Felix Richter, Statista.com
by Niall McCarthy
David Cameron is set for a major showdown with Brussels, after saying the United Kingdom will not pay an extra Pound Sterling1.7billion to the European Union's budget.
Bernie Sanders Talks to Bill Moyers About the Billionaire's Election
Econintersect: The 2014 mid-term election is the most expensive in U.S. history. Yet Sen. Bernie Sanders (I, VT) spent time to go to Richmond, California to speak to voters in that small city about the city council race there. Bill Moyers asked him why? Sanders says that local election is representative of the fight for the life and future of democracy. Moyers pointed out that Chevron Corp. which has a refinery in Richmond, is spending an estimated $150 for every likely voter in that city on the city council campaign.
Gold's Obituary
by David Petch, Treasure Chests
This article was presented to the benefit of Treasure Chests subscribers on October 28, 2014.
This is probably not the type of article anyone who owns precious metal stocks would like to read, but here it is. The analysis presented today illustrates short-term and mid-term outlooks up front, with the Elliott Wave count indicating the longer-term trend expected over the next 5-7 years. I am not really going to provide much information on investment strategies around this analysis, but if one connects the dots, it should reveal a crystal clear picture.
Single-Family Production Poised to Take Off in 2015
from the National Association of Home Builders (NAHB)
A growing economy, rising household formations, low mortgage rates and pent-up demand will help single-family housing production to rev up in 2015 while a growth in renters will keep the multifamily market at cruising altitude or higher, according to economists who participated National Association of Home Builders (NAHB) 2014 Fall Construction Forecast Webinar.
Software Company Charged with Making False Statements to Investors
from the Securities and Exchange Commission
The Securities and Exchange Commission today announced securities fraud charges accusing a New York businessman and his software company of making false statements to investors while raising more than $3 million to fund operations.
Infographic of the Day: How to Persuade Anyone Over the Phone
The ability to influence people over the phone has never been more important as the trend continues for less face-to-face contact to resolve issues.
Investing.com Weekly Wrap-Up 31 October 2014
Dow, S&P 500 end at record highs; BoJ move adds fuel to rally
by Investing.com Staff, Investing.com
The Dow and S&P 500 ended at record highs on Friday and other indexes posted strong gains for a second week after the Bank of Japan's surprise move to ramp up its stimulus program.
Major indexes also posted gains for the month, putting in a sharp recovery from their recent selloff that almost drove the S&P 500 into correction territory. The benchmark index is now up 8.4 percent from its Oct. 15 low and up 9.2 percent for the year so far.
The Nasdaq finished at its highest since March 2000, while for the week the Dow rose 3.5 percent, its best percentage weekly gain since January 2013. The S&P 500 posted its best two-week gain since December 2011.
Why a Central Bank Can Never Run Out of Money
by Chris Mayer, Daily Reckoning
"We can't run out of money," economist L. Randall Wray said. The U.S. government spends through keystrokes that credit bank accounts, he continued. The money comes from nowhere. The government doesn't need to finance itself with taxes. And it doesn't borrow its own currency. It can afford all that is for sale in dollars.
Global Supply Chains Link Us All to Shame of Child and Forced Labour
by Martijn Boersma, The Conversation
The fragmentation of global production has dramatically increased the length and complexity of supply chains. The Organisation for Economic Co-operation and Development (OECD) estimates that more than half of the world's manufactured imports are intermediate goods. These are used as inputs in the production of other goods, sourced from different parts of the globe.
Twitter Fails to Reignite User Growth
by Felix Richter, Statista.com
For the fourth time since its IPO in November 2013, Twitter reported its quarterly earnings yesterday.
