Hard hitting global and local news
Hard hitting global and local news
The El Pais Screwdriver Blog openly asks ” Are we to Liberate the Euro? ” Here is a Mish-modified translation: Today Spain has reached a record number of unemployed.
Chicago Natural Resources Expo April 26 Reminder Reminder: Those in the greater Chicago area should plan on attending the Chicago Natural Resources Expo on April 26 for a discussion about gold, silver, hard assets, inflation, currencies (or whatever else is on your mind). You also have the opportunity to meet with various natural resource company executives. Venue change: Previously this was a Friday evening-Saturday Afternoon event
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Spain’s Unemployment Rate Rises Full Percentage Point to Record 27.2%; Unemployment Tops 6.2 Million Spain’s budget deficits are out of control, home prices are still falling, GDP is down 2% annualized in the first quarter , production is down, the unemployment rate soared a full percentage point to 27.16%, and a record 6.2 million are out of work. Here are some stats from Spain’s National Statistics Office as noted in the Financial Times . Almost 240,000 people lost their jobs in the first three months of the year.
Speculation is growing that one of the Boston bombers met a known Jihadist terrorist in 2011 – as it emerged the FBI failed to follow up on a Russian tip that he was seen with an Islamic militant six times. The Daily Mail would also report that: The FBI has confirmed that Russia alerted the agency in 2011 that Tsarnaev had ties to ‘radical Islam’ groups in his homeland. Homeland Security sources have also revealed the agency received tips in 2012 about his ties to extremists connected to a Boston mosque
Today’s spotlight is on China where Restaurant Owners Praise Robot Noodle Makers for Doing “A Good Job!†Noodle peelers should probably start looking for other things to do around the kitchen – there’s just no competing with these robots. Runguan’s robots peel noodle strips from a firm piece of dough and tosses them directly into boiling water “before diners’ eyes can follow the whole process.†While a cook doing the same job would make about 40,000 yuan ($6,400) per year, the robot cost just 10,000 yuan ($1,600)
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According to the Bank of Spain and as reported by Libre Mercado , Spain’s GDP Drops at 2% Annualized Rate in First Quarter The Spanish economy fell 0.5% in the first quarter and declined 2% year on year, according to economic bulletin of the Bank of Spain , which estimates a fall of 4.5% of employment in the same period, two tenths less than in the previous quarter. The monetary authority notes that Spain continued the "contraction pattern" of activity in the first quarter, although at a "more muted" than in the final last year, where the GDP contracted by 0.8 % quarterly rate.