Hard hitting global and local news
On Friday, president Obama announced a plan to reform NSA surveillance . Don’t expect much of anything to come out of it
See more here: 300 Tons a Day of Nuclear Waste from Japan’s Fukushima Nuclear Plant Pours Into Ocean
The above link is from the Fox News story Army won’t suspend contracts with Al Qaeda-tied companies, citing ‘due process rights’ In a scathing passage of his latest report to Congress, Special Inspector General John Sopko said his office has urged the Army to suspend or debar 43 contractors over concerns about ties to the Afghanistan insurgency, "including supporters of the Taliban, the Haqqani network and al Qaeda." Sopko wrote that the Army "rejected" every single case. Sopko pointed out the apparent disconnect between one part of the Army that is killing insurgents and the other part that allegedly is doing business with them
Here is a bit of QE History from Wikipedia. Quantitative Easing 1 (QE1, December 2008 to March 2010) "On November 25, 2008, the Federal Reserve announced that it would purchase up to $600 billion in agency mortgage-backed securities (MBS) and agency debt
Original post: Message to 5.7 Million Truck Drivers "No Drivers Needed" Your Job is About to Vanish; Time Marches On,…
More: Job Growth Trends by Type of Job and Part-Time Status
Magazine Ad Revenues Plunge; Google Collects Half of Mobile Internet Ads; Cannibalization of Ad Market Is the advertising pie growing, shrinking, or simply being redistributed? Let’s start with a look at PEW Center research that shows News magazines hit by big drop in ad pages
Read this article: An Analysis of July Employment Numbers 1955 to 2013; Full-Time Employment Down Over 5 Million Since 2007
I am normally critical of IMF forecasts, but their baseline unemployment projection for Spain of 25% or more with no more than .6% annual growth through 2017 seems reasonable. The pessimistic scenario is a toxic deleveraging downward spiral that continues right now. The optimistic scenario assumes 2% growth, but that scenario does not start until 2018, and only if labor reforms in Spain and Europe take place
Initial Reaction The establishment survey showed a gain of 162,000 jobs. The previous two months were revised lower