Hard hitting global and local news
Today, the New York Times reports Detroit Turns Bankruptcy Into Challenge of Banks . Amy Laskey,a managing director at Fitch Ratings, said in a recent report that she sensed an “us versus them†orientation toward debt repayment
Is Portugal about ready to implode?
ISM Report Snips PMI Manufacturing expanded in January as the PMI® registered 51.3 percent, a decrease of 5.2 percentage points when compared to December’s seasonally adjusted reading of 56.5 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
Why are Taxpayers Subsidizing Big Mac Buyers? A friend of mine who wishes to remain anonymous claims the following: Walmart employees (as a group) are often the biggest recipients of federal and state aid within each state. McDonalds employees are up there as well
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Also consider UKIP Tops Independent Poll as Nation’s Favourite Party ‘The UK Independence Party is the nation’s favourite political party, a poll for The Independent on Sunday reveals today. Voters regard Nigel Farage’s party more favourably than Labour, the Conservatives or the Liberal Democrats. The surprising finding will underline concerns inside the mainstream Westminster parties that Ukip is on course to come first in May’s European elections and could deny Labour or the Tories an outright victory in next year’s general election.
I invite you to read World risks deflationary shock as BRICS puncture credit bubbles by Ambrose Evans-Pritchard. It is a remarkable state of affairs that the G2 monetary superpowers – the US and China – should both be tightening into such a 20pc risk, though no doubt they have concluded that asset bubbles are becoming an even bigger danger
Read More: Spain Misses Watered-Down Budget Deficit Targets Yet Again
Leaving aside religious debates on global warming, UC Berkeley professor B. Lynn Ingram says California water woes could be just beginning . As 2013 came to a close, the media dutifully reported that the year had been the driest in California since records began to be kept in the 1840s
I happen to like US treasuries on the basis the economy is slowing much more than anyone thinks. Short-term, who knows?