Hard hitting global and local news
Taken from: Philadelphia Fed Solidly in Contraction; Unwarranted Future Optimism; 3-Month Moving Average Suggests Recession; Hiring Plans Collapse
The New York Times reports Renault, Adjusting to Europe’s Declining Market, Will Cut 7,500 Jobs France’s ailing industrial sector took another blow on Tuesday when Renault said it planned to cut 7,500 domestic jobs by 2016, or about 17 percent of its French labor force, as it adjusts production capacity to the crushing downturn in the European car market. Of the 135,000 people Renault employs worldwide, more than 44,600 work in France. Ms.
Links 3D Printed Guns Render Gun Control Moot January 17, 2013 ( LocalOrg-Tony Cartalucci ) – Forbes has recently published an article about New York Congressman Steve Israel’s promise to ban 3D printed high capacity ammunition magazines. The congressman’s comments come after Defense Distributed , an open source DIY gunsmith group working to manufacture both guns and their accessories using 3D printing technology, successfully printed and tested a 30-round AR-15 magazine .
Original post: By Design: French Mali Invasion Spills into Algeria
Error Over Quota This application is temporarily over its serving quota. Please try again later
Error Over Quota This application is temporarily over its serving quota.
Error Over Quota This application is temporarily over its serving quota. Please try again later.
Bloomberg reports Draghi’s Bond Rally Masks Trapping Spain Debt Doom Loop . The bond rally has sent Spanish borrowing That costs to 10-month lows has distracted attention from the nation’s growing debt pile. Spain’s budget deficit probably exceeded 9 percent for a fourth year in 2012 as Europe ‘s highest unemployment rate, a third recession in four years and the cost of bailing out its banks offset almost all of the government’s 62 billion euros ($ 83 billion) of spending cuts and tax Increases, According To Economists at Societe Generale SA (GLE) , Lombard Street Research and the Madrid-based Applied Economic Research Foundation.