Hard hitting global and local news
More than half of college graduates move back home, sociologist Katherine Newman wrote in her book, " The Accordion Family: Boomerang Kids, Anxious Parents, and the Private Toll of Global Competition ," based on surveys conducted worldwide.
Mass Firings Soar at Fastest Pace Since 2010; What’s the Impact on Unemployment? In precisely the kind of news president Obama does not want heading into the election, Ford (F), Dow Chemical (DOW), DuPont (DD), and Advanced Micro Devices (AMD) all announced mass layoffs this past week as Firings Reach Highest Since 2010 . North American companies have announced plans to eliminate 62,600 positions at home and abroad since Sept.
For further elaboration, please see The Most Redeeming Feature of Capitalism is Failure . “OMTs will not lead to disguised financing of governments,†Draghi said
The Wall Street Journal reports Amid Falling Profit, McDonald’s to Revisit ‘Dollar Menu’ McDonald’s Corp. reported a 3.5% decline in third-quarter earnings as sales slowed more dramatically than expected because of a sluggish economy and a disappointing marketing campaign. "We face softening demand, heightened competition and rising costs in many of our markets," Chief Financial Officer Pete Bensen said.
Today we learned from El Pais English edition that Brussels Revises Spain’s Deficit Upward to 9.4% of GDP The European Union’s statistics office, Eurostat, on Monday said it had revised Spain’s public deficit for last year upward from 8.5 percent of GDP to 9.4 percent to reflect state injections of capital into nationalized banks. That put Spain on a par with Greece and only behind Ireland, whose shortfall was 13.4 percent of GDP, in the EU
Original post: Wholesale Price Deflation Hits China’s Factories
Read More: Is the Fed in Control? If So, Control of What?
Via Google Translate, please consider military association calls for declaring a "state of war" against Catalunya . Barcelona (Editorial). – The Association of Spanish soldiers returned to the charge
As I noted a week ago in So Much For Today’s Surprising "Drop" In Weekly Jobless Claims; California Forgot to Report 30,000 Claims … I still think Friday’s jobs report will be revised away, but I am positive today’s "surprising" report will be (for the simple reason California forgot to report 30,000 claims)
Continue reading here: Philly Fed Rises But Details Very Weak; Future Expectations Plunge