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Hard hitting global and local news
Hard hitting global and local news
For example, ECB Executive Board member Benoit Coeure says "ECB Can Cut Rates Further, Offer Liquidity" . The European Central Bank can trim interest rates further and provide the banking system with liquidity, ECB Executive Board member Benoit Coeure said on Saturday after last week’s rate cut to a record low.
CBS Evening News reports S.F. programmers build alternative to HealthCare.Gov Website On Friday, President Obama had this to say about problems with the Obamcare website during a speech in New Orleans: "I promise you, nobody’s been more frustrated
Tweet Our water district goes to Washington DC twice annually to either look for help or avoid regulatory problems with our environmental restoration, flood control, and water supply projects, and my turn was this last week. The team had 21 meetings in 2.5 business days, occasionally splitting up.
Eli Rabett Eli Rabett Eli Rabett is a not quite failed professorial techno-bunny, a chair election from retirement, at a wanna be research university that has a lot to be proud of but has swallowed the Kool-Aid. The students are naive but great and the administrators vary day-to-day between homicidal and delusional.
Marc Faber believes China could spark a bigger crisis than in 2008 . An alarming credit boom in China could trigger a global financial crisis that would make the one in 2008 look mild by comparison, says old gloomy eyes, Marc Faber.“If I am telling you that we had a credit crisis in 2008 because we had too much credit in the economy, then there is that much more credit as a percentage of the economy now,†the author of The Gloom, Boom & Doom Report told CNBC late Thursday. “So we are in a worse position than we were back then.†China, in particular, has seen credit as a percentage of the economy jump 50% in the last four and a half years, said Faber, the “fastest credit growth you can image in the whole of Asia.†Meanwhile, Deutsche Bank strategist John-Paul Smith told clients on Wednesday that China’s growth model continues to be based on “ever-expanding debt, which leaves the country and financial markets very vulnerable to any potential loss of from investors and lenders.†It Can’t Be Done I have been preaching a similar message as Faber for years, most recently on November 6, in It Can’t Be Done
A few snips from the New York Times article Rules to Require Equal Coverage for Mental Ills will explain. The Obama administration on Friday will complete a generation-long effort to require insurers to cover care for mental health and addiction just like physical illnesses when it issues long-awaited regulations defining parity in benefits and treatment
For further discussion of income distribution, please see What’s "Really" Behind Gross Inequalities In Income Distribution? BLS Birth-Death Model Black Box The BLS Birth/Death Model is an estimation by the BLS as to how many jobs the economy created that were not picked up in the payroll survey. The Birth-Death numbers are not seasonally adjusted, while the reported headline number is.
Read more here: Czech Republic Enters Currency Debasement Club; Koruna Intervention Triggers Record Drop; "Hardball" in Pictures