What We Know About Recessions Might Be Wrong … What are business cycles? Many people think that booms naturally lead to busts — that excesses built up during good times lead inevitably to a crash. Today's economists don't see it that way. Modern macroeconomists think that recessions and booms are random fluctuations around a trend. These fluctuations tend to die out — a d...Read More
Dallas Fed chief urges power shift at bank … The outgoing head of the Dallas Federal Reserve called Wednesday for major changes to the central bank's power structure, arguing that current policies fuel perceptions that big banks have too much influence with regulators. During a fiery speech to the Economic Club of New York, President Richard Fisher criticized the current structure, argui...Read More
What We Know About Recessions Might Be Wrong … What are business cycles? Many people think that booms naturally lead to busts — that excesses built up during good times lead inevitably to a crash. Today's economists don't see it that way. Modern macroeconomists think that recessions and booms are random fluctuations around a trend. These fluctuations tend to die out — a d...Read More
Cenovus Energy says it will make a 15% staff reduction, mostly to its contract workforce, and will suspend employee salary increases to preserve "financial resilience" in case oil falls further. Cenovus made the announcement in a production update released today. "In the current challenging oil price environment, we're reducing capital spending in order to help preserve our financial resilience,"...Read More
Greece presents bailout plans to EU finance ministers … Greece's anti-austerity government is presenting its first concrete proposals for an alternative debt plan at an emergency meeting of eurozone finance ministers in Brussels. The government wants to overhaul 30% of its bailout obligations, replacing them with a 10-point plan of reforms. But EU ministers have warned that Greece must a...Read More
For the third time in a century, America will have to ride to Europe's rescue … From the sidelines, the US is watching the unfolding Greek tragedy with growing horror. It must stand ready to assist as the euro breaks apart. It would be the third time in a century. Will America once more end up having to save the fratricidal Europeans from themselves? – UK TelegraphDominant Social T...Read More
Greece presents bailout plans to EU finance ministers … Greece's anti-austerity government is presenting its first concrete proposals for an alternative debt plan at an emergency meeting of eurozone finance ministers in Brussels. The government wants to overhaul 30% of its bailout obligations, replacing them with a 10-point plan of reforms. But EU ministers have warned that Greece must a...Read More
For the third time in a century, America will have to ride to Europe's rescue … From the sidelines, the US is watching the unfolding Greek tragedy with growing horror. It must stand ready to assist as the euro breaks apart. It would be the third time in a century. Will America once more end up having to save the fratricidal Europeans from themselves? – UK TelegraphDominant Social T...Read More
Rand Paul's Know-Nothing Fed Bashing … See if you can spot the errors in Senator Rand Paul's push to audit the Federal Reserve, which he laid out Friday in Des Moines: "Anybody here want to audit the Fed?" Paul asked from the stage. "Anybody feel that the Fed's out to get us?" … "They'd be bankrupt, they'd be insolvent," he said. "...Read More
Why Legal Cannabis Is 2015's Best Startup Opportunity … Every entrepreneur dreams of discovering an untapped market where they could start with a low investment and build a huge business. If that's you, consider the developing legal marijuana industry. This sector is growing faster than ganja under grow lights. The best part is, it's early days for this – cough – budd...Read More
Rand Paul's Know-Nothing Fed Bashing … See if you can spot the errors in Senator Rand Paul's push to audit the Federal Reserve, which he laid out Friday in Des Moines: "Anybody here want to audit the Fed?" Paul asked from the stage. "Anybody feel that the Fed's out to get us?" … "They'd be bankrupt, they'd be insolvent," he said. "...Read More
Why Legal Cannabis Is 2015's Best Startup Opportunity … Every entrepreneur dreams of discovering an untapped market where they could start with a low investment and build a huge business. If that's you, consider the developing legal marijuana industry. This sector is growing faster than ganja under grow lights. The best part is, it's early days for this – cough – budd...Read More
'Free trade' isn't what Trans-Pacific Partnership would deliver … Think the Trans-Pacific Partnership is a free trade agreement? Think again. In principle, almost everyone's in favor of free trade. It promotes international harmony, raises wages, helps economies grow. It's an article of historical faith that the enactment of harsh protective U.S. tariffs in 1930 contribut...Read More
Organic food sales have gone through the roof. It's no wonder. It's widely believed that organic foods are more nutritious and safer than non-organic — they're even said to fight cancer — even though the evidence is far from clear …The premium prices may not be buying everything that's promised. – BloombergDominant Social Theme: Who needs natural food?Free-M...Read More
'Free trade' isn't what Trans-Pacific Partnership would deliver … Think the Trans-Pacific Partnership is a free trade agreement? Think again. In principle, almost everyone's in favor of free trade. It promotes international harmony, raises wages, helps economies grow. It's an article of historical faith that the enactment of harsh protective U.S. tariffs in 1930 contribut...Read More
Organic food sales have gone through the roof. It's no wonder. It's widely believed that organic foods are more nutritious and safer than non-organic — they're even said to fight cancer — even though the evidence is far from clear …The premium prices may not be buying everything that's promised. – BloombergDominant Social Theme: Who needs natural food?Free-M...Read More
Central Banks Move to Drive Down Currencies, Yielding Domino Effect … The central-bank stimulus spree of 2015 has the look of a global currency war. In quick succession, countries representing about a third of the world's economic output—from the eurozone to China, Australia and Canada—have taken steps that have driven down the value of their currencies. – Wall Street J...Read More
TSA to Arrest Anyone Charged with any Crime trying to Come or Leave – including taxes … The border is closing rapidly. First it was FATCA hunting Americans with any assets overseas whatsoever. Now just two days after taking charge of the committee chairing the House Homeland Security subcommittee hearing, U.S. Rep. John Katko introduced two bills. He is looking to effectively close the...Read More
Central Banks Move to Drive Down Currencies, Yielding Domino Effect … The central-bank stimulus spree of 2015 has the look of a global currency war. In quick succession, countries representing about a third of the world's economic output—from the eurozone to China, Australia and Canada—have taken steps that have driven down the value of their currencies. – Wall Street J...Read More
TSA to Arrest Anyone Charged with any Crime trying to Come or Leave – including taxes … The border is closing rapidly. First it was FATCA hunting Americans with any assets overseas whatsoever. Now just two days after taking charge of the committee chairing the House Homeland Security subcommittee hearing, U.S. Rep. John Katko introduced two bills. He is looking to effectively close the...Read More