Hard hitting global and local news
Inquiring minds note China, Germany Plan to Settle More Trade in Yuan, Euros . Germany and China plan to conduct an increasing amount of their trade in euros and yuan, the two nations said in a joint statement after talks between Chancellor Angela Merkel and Chinese Premier Wen Jiabao in Beijing on Thursday
See original article: Bad News For Super-Models: Computer-Generated Fashion Models Better Than Real Thing; Fashion Questions of the Day
david lewis said… Is Eli headed for the slammer? Read the RNC thinly veiled attack on the integrity and motivation of climate scientists , as stated in the recently adopted RNC national platform: "We must restore scientific integrity to our public research institutions and remove political incentives from publicly funded research"These words appear on the America’s Natural Resources page which those interested in the potential fate of our chief, the Rabett, reach by clicking on a link on the 2012 Republican Platform homepage .The full 62 page " We Believe in America " pdf does not contain these words
See more here: Japan Manufacturing PMI Hits 16 Month Low, New Orders Plunge
Jeff Harding at the Daily Capitalist asks Why Does Hyperinflation Occur? In every modern case of hyperinflation the decision to inflate was a political one, not an economic one
See more here: Eurozone Retail Sales Decline 15th Month, Plunge Led by Italy, France; German Sales Contract Slightly
Via Google Translate from El Economista, France will create 150,000 jobs for young people without qualifications The French Government has today adopted a draft law providing for the creation of 150,000 subsidized jobs for young people with little or no qualifications, which are most affected by unemployment and employability harder. The beneficiaries of these so called "jobs of tomorrow" will work for municipalities, hospitals, schools, social organizations, associations or, exceptionally, in private companies, and will receive a grant of up to 75% of their compensation.
Link: Governor Brown Admits the Obvious "We Have Lived Beyond Our Means"; Brown Agrees to Vast Overhaul of the California’s…
For a short, yet thorough trashing of Bernanke’s defense of his policies, please see Mish Translation of Bernanke’s Statements on the Treasury Carry Trade and the Tax on Savers . The only way to fix the problem is to end fractional reserve lending and return to sound money. On this point the Austrians are 100% correct.