February 20, 2013
Germany Warns Against "Silvio the Savior" (And That May Backfire); Fake Horse Race Odds Get Around Blackouts
In Italy, the opposite is happening.
Hard hitting global and local news
Hard hitting global and local news
In Italy, the opposite is happening.
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View the original here: Opting Out of Obamacare (the Unaffordable Health Care Act); Not Even Labor Unions Want It
See the article here: ECB President Draghi Urges Less Talk and More Talk (On the Same Subject)
Read More: 2012 Export Growth by Country; China and US at Top of List; World Trade Slowdown; Rebalancing at Glacial…
The original source of the data is a study Striking it Richer: The Evolution of Top Incomes in the United States by Emmanuel Saez. From 2009 to 2011, average real income per family grew modestly by 1.7% but the gains were very uneven. Top 1% incomes grew by 11.2% while bottom 99% incomes shrunk by 0.4%
As expected in this quarter (but not by economists) eurozone economies contracted at the sharpest rates in four years with Germany, France, and Italy falling short of consensus estimates. The eurozone consensus was .4%. The 17-nation bloc shrank at .6% quarter-on-quarter while the broader 27-nation bloc shrank .5% quarter-on-quarter.
Read More: Reader Reflections on "Watson" the Medical Computer
Today the Financial Times posted news of a Radical rescue proposal for Cyprus A radical new option for the financial rescue of Cyprus would force losses on uninsured depositors in Cypriot banks, as well as investors in the country’s sovereign bonds, according to a confidential memorandum prepared ahead of Monday’s meeting of eurozone finance ministers. The proposal for a “bail-in†of investors and depositors, and drastic shrinking of the Cypriot banking sector, is one of three options put forward as alternatives to a full-scale bailout. The ministers are trying to agree a rescue plan by March, to follow the presidential elections in Cyprus later this month