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Today we learn Bank of Japan Adopts Negative Interest Rates .
See more here: New Home Sales Surge but Prices Down Sharply; Prices Have Room to Fall; Is Everybody In?
The Wall Street Journal hits the nail on the head with this headline: Yuan’s Fall Is Just ‘Noise’ Amid Deeper China Woes . When the financier George Soros attacked the British pound in 1992 and famously “broke the Bank of England†he was trading on a conviction that the currency was misaligned. Britain devalued after squandering its reserves in a vain defense.
More: Debunking the Myth "Consumer Spending is 67% of GDP"
See the article here: Former Hasbro CEO Says "Providence Should Consider Bankruptcy"; An Option Chicago Needs
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The Wall Street Journal reports European Commission Plans New Try at Redistributing Migrants . The European Commission is seeking a sort of automatic mechanism for redistributing asylum seekers across Europe, despite most governments showing little support for the idea.
Continue Reading: More Fed Confessionals; Funny Oil Videos; In Search of Bullard; Inflation Expectations