Janet Napolitano: Immigration bill important step … Homeland Security Secretary Janet Napolitano mounted a vigorous defense of the Senate Gang of Eight's comprehensive immigration plan on Tuesday, calling the legislation an "important first step" to reforming the nation's immigration laws. In testimony before the Senate Judiciary Committee, Napolitano said the 844-page bill...Read More
Gold's Declining Price Is a Reversion to the Mean … Since the beginning of the economic crisis in 2008, conservatives have been predicting that inflation is right around the corner. They base this prediction on the vast increase in the money supply that the Federal Reserve brought about in order to keep the financial system from imploding. Because a too-rapid rise in the money supply did...Read More
How Did the World's Rich Get That Way? Luck …Why are some people so rich and others so poor? Is it from good choices or good luck? Hard work, smarts, and ability—or something else? That depends who you are comparing yourself to. If you are more successful than your friends, colleagues, and family members, surely a lot of it is because you are better at what you do, or have made bet...Read More
Wealthiest Americans Only Winners in Recovery, Pew Says … The U.S. economy has recovered for households with net worth of $500,000 or more, a new study shows. The recession continues for almost everyone else. Wealthy households boosted their net worth by 21.2 percent in the aftermath of the recession, according to the study released today by the Pew Research Center. The rest of America lost...Read More
German 'Alternative': Parallel Currency Idea Carries Great Risks … A new German protest party is proposing the gradual re-introduction of the national currencies of highly indebted euro-zone countries. While the party's spokesman insists the idea solves everyone's problems, it has one major drawback: Economists agree it won't work. – Der SpiegelDominant Social Theme...Read More
Limit Austerity, EU Official Says A top European Union official signaled his support Monday for relaxing Europe's austerity drive, in what could be a significant break for countries struggling to hit tough budget targets amid persistent economic weakness. In a speech, European Commission President José Manuel Barroso said the policy of austerity pursued by the EU in recent years no long...Read More
Greece will probably pull through … Greece is not yet out of the woods. But there is a credible path that could lead the country back into the sunlight. That's the main conclusion of a week I have just spent in the country. Although the economy will have a terrible 2013, next year should be better. But the outlook is fragile: political crisis could yet rear its ugly head, tax evasion is...Read More
Re-inflating the bubble … Obama hired back all the Clinton-era officials who caused the housing bust — so they can do it all over again … In the 1990s, convinced that the US mortgage market was racist, the Clinton administration launched a massive campaign of social engineering. Through government entities Fannie Mae and Freddie Mac, officials encouraged extending mortgages to pe...Read More
German 'Alternative': Parallel Currency Idea Carries Great Risks … A new German protest party is proposing the gradual re-introduction of the national currencies of highly indebted euro-zone countries. While the party's spokesman insists the idea solves everyone's problems, it has one major drawback: Economists agree it won't work. – Der SpiegelDominant Social Theme...Read More
Limit Austerity, EU Official Says A top European Union official signaled his support Monday for relaxing Europe's austerity drive, in what could be a significant break for countries struggling to hit tough budget targets amid persistent economic weakness. In a speech, European Commission President José Manuel Barroso said the policy of austerity pursued by the EU in recent years no long...Read More
Greece will probably pull through … Greece is not yet out of the woods. But there is a credible path that could lead the country back into the sunlight. That's the main conclusion of a week I have just spent in the country. Although the economy will have a terrible 2013, next year should be better. But the outlook is fragile: political crisis could yet rear its ugly head, tax evasion is...Read More
Re-inflating the bubble … Obama hired back all the Clinton-era officials who caused the housing bust — so they can do it all over again … In the 1990s, convinced that the US mortgage market was racist, the Clinton administration launched a massive campaign of social engineering. Through government entities Fannie Mae and Freddie Mac, officials encouraged extending mortgages to pe...Read More
April 23, 2013Toronto, Canada (April 23, 2013) -Mega Uranium Ltd. (MGA-TSX) ("Mega") announces that on April 22, 2013, itacquired ownership of 21,876,265 common shares ("Common Shares") of NexGenEnergy Ltd. ("NexGen"), representing approximately 25.2% of the total issuedand outstanding common shares of NexGen as of April 22, 2013, pursuant to theclosing of the qualifying transaction of NexGen (pre...Read More
Carbon-Intensive Investors Risk $6 Trillion 'Bubble,' Study Says … Investors in carbon-intensive business could see $6 trillion wasted as policies limiting global warming stop them from exploiting their coal, oil and gas reserves, according to research by the Carbon Tracker Initiative and a climate-change research unit at the London School of Economics. If this rate continues for the...Read More
The green jewel was the Emissions Trading Scheme (ETS)—the European-wide carbon market, by far the largest such system in the world. The ETS, launched in 2005, allowed Europe to put a common price on a ton of carbon, which was meant to encourage utilities and factories to reduce carbon emissions in the most efficient way popular … But the ETS—and carbon trading more generally&mda...Read More
Free exchange – Where did everyone go? … Demography may explain the weakness of America's recovery … The notion that America's potential growth has slipped is not new. Some economists have argued that the crisis itself undermined potential by starving innovative companies of financing and driving some workers, whose skills have atrophied from long spells of unemployment,...Read More
The hottest frontier …When you are trying to keep a retail outfit afloat amid hyperinflation, it helps to have a sideline. "We had a business selling crocodile skins to Hermès and Gucci for shoes and handbags," says John Koumides, chief executive of Innscor, a conglomerate based in Zimbabwe's capital, Harare. The currency earned from this exotic export was a lifeline for...Read More
Carbon-Intensive Investors Risk $6 Trillion 'Bubble,' Study Says … Investors in carbon-intensive business could see $6 trillion wasted as policies limiting global warming stop them from exploiting their coal, oil and gas reserves, according to research by the Carbon Tracker Initiative and a climate-change research unit at the London School of Economics. If this rate continues for the...Read More
The green jewel was the Emissions Trading Scheme (ETS)—the European-wide carbon market, by far the largest such system in the world. The ETS, launched in 2005, allowed Europe to put a common price on a ton of carbon, which was meant to encourage utilities and factories to reduce carbon emissions in the most efficient way popular … But the ETS—and carbon trading more generally&mda...Read More