Hard hitting global and local news
The Wall Street Journal discusses Negative Rates in Denmark, Switzerland .
I’m very glad to see this: I’ve been arguing for this type of analogy for years . There are alot of people out there, especially high school age students but not just them, who haven’t thought much about statistics and how they apply to weather and climate
Prepare for Spanish Implosion: Businesses Threaten to Leave Spain Over Tax Hikes; Finance Minister Proposes 56% Tax on Short-Term Financial Transactions Cristobal Montoro, the Spain’s finance minister has made a liquidity destroying proposal to tax short-term financial transactions at an astonishing 56% tax rate. Businesses are already upset over hikes in the VAT and have threatened to leave Spain. Interestingly, in spite of raising taxes elsewhere, the VAT was lowered on the highly subsidized renewable energy sector.
On Saturday, Bloomberg reported Six Spanish Regions May Seek Bailout After Valencia The Balearic Islands and Catalonia are among six Spanish regions that may ask for aid from the central government after Valencia sought a bailout, El Pais reported.
Expect Strikes and Protests to Spread to Italy; Another Look at Why Italy Will Exit the Eurozone Before Spain Anti-euro sentiment in Italy is already very strong and about to get stronger. Eurointellihence has some interesting comments today regarding Italy. The demonstrations and protests [in Spain] are very likely now to spread to Italy.
Ambrose Evans-Pritchard has the details in his Telegraph piece, Spanish debt crisis returns as Germany nears bailout fatigue “Demand for Spanish paper is collapsing, even for shorter-dated debt which is very worrying and raises the spectre of Spain losing market access,†said Nicholas Spiro from Spiro Sovereign Strategy. Marchel Alexandrovich from Jefferies Fixed Income said the markets are already bracing for second bigger rescue of around €400bn. “A few more weeks like this and Madrid is going to decide to it has nothing more to lose and call for a full sovereign bail-out,†he said.
Please consider Tech sector layoffs surge to three-year high During the first half of the year, 51,529 planned job cuts were announced across the tech sector, representing a 260 percent increase over the 14,308 layoffs planned during the first half of 2011.
View article: Job Losses and Unemployment Skyrocketing in China; Thinner, Taller iPhone 5
Cui bono DeSmog brings news that the Norfolk Constabulary has stopped its investigation into the CRU hacking. In a press release they state: While no criminal proceedings will be instigated, the investigation has concluded that the data breach was the result of a ‘sophisticated and carefully orchestrated attack on the CRU ’s data files, carried out remotely via the internet’. Senior Investigating Officer, Detective Chief Superintendant Julian Gregory, said: “Despite detailed and comprehensive enquiries, supported by experts in this field, the complex nature of this investigation means that we do not have a realistic prospect of identifying the offender or offenders and launching criminal proceedings within the time constraints imposed by law.“The international dimension of investigating the World Wide Web especially has proved extremely challenging.“However, as a result of our enquiries, we can say that the data breach was the result of a sophisticated and carefully orchestrated attack on the CRU ’s data files, carried out remotely via the internet. The offenders used methods common in unlawful internet activity to obstruct enquiries