Hard hitting global and local news
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Click on the above link to see an interactive map that lets you select the rate of job growth up to January of 2020.
Today the Federal Reserve issued this Policy Statement Regarding Purchases of Treasury Securities and Agency Mortgage-Backed Securities . On December 12, 2012, the Federal Open Market Committee (FOMC) directed the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York to purchase longer-term Treasury securities after the maturity extension program is completed at the end of December 2012, initially at a pace of about $45 billion per month. The FOMC also directed the Desk to continue purchasing additional agency mortgage-backed securities (MBS) at a pace of about $40 billion per month. These actions should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative. The FOMC also directed the Desk to maintain its existing policy of reinvesting principal payments from the Federal Reserve’s holdings of agency debt and agency MBS in agency MBS, and, in January, to resume rolling over maturing Treasury securities into new issues at auction.
In light of Carney’s " radical action " statements, please consider Bank of Canada warns of low-rate risk . The Bank of Canada says low-interest policies that it and other central banks have put in place are adding another layer of risk to the already stressed global financial system
The Wall Street Journal has a nice interactive map that lets you Make Your Own Deficit-Reduction Plan . I balanced the budget easily without doing things that I think need to be done such as eliminating the department of energy, the department of education, slashing military spending by 35%, etc., etc.
Please consider the Detroit News article Chrysler reinstates 13 workers fired for drinking on job . Chrysler Group LLC says it was forced to reinstate 13 workers who were fired from its Jefferson North Assembly Plant two years ago after being filmed by a local television station drinking and smoking what the network suggested was a controlled substance before and during work. "The workers followed the grievance procedure process outlined in the collective bargaining agreement between Chrysler and the United Auto Workers.
Bank of England Warns of Global Currency Wars By the time central banks warn about something, the practice has likely been going on for years. Today’s case in point is BoE’s King warns of growing currency competition The head of the Bank of England warned on Monday that too many countries were trying to weaken their currencies to offset the impact of the slow global economy and the trend could grow next year. "You can see, month by month, the addition to the number of countries who feel that active exchange rate management, always to push their exchange rate down, is growing," Mervyn King said in a speech
Gallup Reports Upper-Income Spending Worst November Ever With the generally upbeat spending reports on black Friday and cyber-Monday, Gallup paints a different point of view in its most recent poll that shows U.S. Consumer Spending Holds Steady, Consistent With 2011 Americans’ self-reported daily spending averaged $73 in November, essentially on par with September and October.
See the article here: Mine-Sniffing Dolphins Lose Their Jobs to Robots; Sea Lion Jobs Safe for Now