Hard hitting global and local news
See the article here: Plotting the Fed’s Baby Step 1/8 Point Hikes; Yellen vs. Greenspan "Measured Pace"
Housing Regulator Wants to Throw the Drowning Poor an Anchor; Mish Alternative Proposal Now that home prices have recovered from the Great Financial Crisis to the point of being way overvalued again in many areas, a Housing Regulator Targets More Support for Poor Borrowers . The regulator for U.S
With that hike, Chicago Now has America’s Highest Sales Tax . Chicago has long had a steep sales tax, but a vote by Cook County commissioners Wednesday night made the city’s rate the highest of any major city in the nation
Read the article: Survival of the Fittest Robot: A Mother Robot and the Evolution of Her Offspring
More: Bond Spread Blowout Revisited; Fred Data Error
See original article: Weekend Humor: Safety First – Image of a German, a Greek, and the IMF Designing a Rescue
The Illinois Policy Institute reports Manufacturer Moves Out of Madigan’s Backyard, Cites Unfriendly Business Climate . Illinois’ manufacturing meltdown is showing no signs of stopping. Hoist Liftruck, a manufacturer of industrial forklifts, has announced plans to move more than 300 manufacturing jobs from Bedford Park, Illinois, to East Chicago, Indiana
1st Quarter: +0.6% 2nd Quarter: +2.3% The retail sales revisions may add another 0.2% or so to second quarter, assuming there are no other changes. That’s a huge assumption given the history of revisions in nearly every economic number
View the original here: Don’t Worry, There’s Only One Cockroach
MarketWatch reports Productivity Dry Spell Looks Worse in Latest Report The dry spell of productivity in this economic expansion is even worse than previously thought, according to new data released Tuesday. The average annual rate of productivity growth from 2007 to 2014 was revised down to 1.3% per year from the prior estimate of 1.4%, the Labor Department said Tuesday. This is well below the long-term rate of 2.2% per year from 1947 to 2014