Hard hitting global and local news
click on chart for sharper image Summary Note that the US dollar is about where it has been since the beginning of 2012, but higher than it was in October of 2012 when it was judged to be "overvalued". Is it more overvalued today? Apparently the British pound, New Zealand dollar, Australian Dollar, the US dollar, the euro, and the yen are all overvalued
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For her writeup, French Blogger Fined $2,000 for Restaurant Review, Too Prominent on Google . A blogger eats in an Italian restaurant in southwestern France. She thinks the food is bad, the service even worse, and she writes up a review that is not glowing, to put it mildly.
See more here: Bad Day for Bad Teachers, Good Day for Kids
More here: Japan Exports and Trade Balance vs. the Yen; Abenomics in Review
Output prices down 27th month and accelerating Private sector employment down 9th month Service sector activity improved slightly Activity Picks up in Peripheral Europe Meanwhile, things improve elsewhere in Europe. The Markit European Composite report makes this headline claim: Flash PMI signals rebound in Eurozone growth but French woes persist. Eurozone economic growth rebounded in July, according to the „flash‟ estimate of Markit‟s Purchasing Managers‟ Index.
Business Insider’s " eye-popping " chart of the day on Why People Are Freaking Out About ‘Tax Inversions’ adds a big megaphone to Obama’s tune. ‘Factoryless’ Exports In addition to seeking higher taxes, Obama simultaneously proposes a rule change to classify " factoryless goods producers " as domestic manufacturers, even if the manufacturing jobs associated with those producers are offshore. The IB Times reports Obama’s jobs proposal was Slammed by Unions
Read the original: The Piece Fits; Debunking Revisited
See the article here: Junk Bond Indigestion; Musical Chairs; Take Chips Off the Table?