France Is About To Plunge Into Deflation

Business Insider, By Mike Bird, December 11

French inflation just sank to another five-year low, down at 0.4% in November, compared to the same month last year, leaving France even further away from the European Central Bank’s 2% inflation target.. Analysts were expecting a 0.5% figure.

But it’s even worse than that. France’s core inflation […]

Japan’s third quarter recession deeper than estimated

BBC, December 7

Japan’s economy shrank more than initially estimated in the third quarter of 2014, according to revised gross domestic product (GDP) figures.

The economy contracted by 1.9% in annual terms from July to September, well above a preliminary reading of 1.6%.

It also shrank 0.5% on a quarterly basis, compared with an initial […]

What do you call….?

It’s always been: “What do you call 100 lawyers at the bottom of the sea?” “A good start.”

What do you call 39 dead bankers?

[…]

The Downside of the Boom

North Dakota took on the oversight of a multibillion-dollar oil industry with a regulatory system built on trust, warnings and second chances. The cooperative approach doesn’t seem to generate results.

NYT -In early August 2013, Arlene Skurupey of Blacksburg, Va., got an animated call from the normally taciturn farmer who rents her family […]

US Federal Reserve Initiates Investigation of New York Federal Reserve

Value Walk, By Mark Melin, November 21

After press reports reveal more than a cozy relationship, but sharing of confidential documents, investigation called for on eve of Senate testimony on the issue

After a withering expose in The New York Times that showed bank regulators at the New York Federal Reserve sharing confidential information with […]

Senate Report: Banks Had Unfair Commodity-Market Advantages

Report Notes Deals Between Goldman, Deutsche and Others Drove Up Aluminum Prices

The Wall Street Journal, by Christian Berthelsen & Ryan Tracy, November 19

Washington — A U.S. Senate report on commodity-market activities at big Wall Street banks accuses the firms of being so powerful they were able to influence prices, gain trading advantages and […]

Thomas Merton Listening to the Rain

This, via Monksworks, from Thomas Merton:

Let me say this before rain becomes a utility that they can plan and distribute for money. By “they” I mean the people who cannot understand that rain is a festival, who do not appreciate its gratuity, who think that what has no price has no value, that what […]

Foreign exchange fines: banks handed £2bn in penalties for market rigging

Regulators in US and UK mete out record fines after finding a ‘free for all culture’ on currency trading floors at RBS, HSBC, Citibank, JP Morgan and UBS

The Guardian, By Jill Treanor, November 12

The corruption of the world’s biggest currency dealers was laid bare on Wednesday when regulators imposed £2bn of fines on […]

Americans Face Post-foreclosure Hell As Wages Garnished, Assets Seized

Reuters, By Michelle Conlin, Ocotber 14

New York – Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still owe by freezing their bank accounts, garnishing their […]

Slumming It

The gospel of wealth comes for Dharavi

The Baffler, By Daniel Brook, Baffler No. 25 (October? November?)

In a speech to the financial elite of India delivered in Mumbai in 2010, president Barack Obama opted for an unusual form of flattery. He saluted “all the Mumbaikars who get up every day in this City of […]

Brands Are Scanning Your Selfies And Party Photos To Look For Their Logos

Consumerist, By Laura Northrup, October 10

Let’s say that you’re a brand, like Nabisco or the North Face, and you want to see what people are saying about you online. You could do a text search of Facebook and Twitter, but that’s soooo 2009, and you can’t guarantee that people will always label the photos […]

For sale: Systems that can secretly track where cellphone users go around the globe

Washington Post, By Craig Timberg, August 24

Makers of surveillance systems are offering governments across the world the ability to track the movements of almost anybody who carries a cellphone, whether they are blocks away or on another continent.

The technology works by exploiting an essential fact of all cellular networks: They must keep detailed, […]

Who The Fck Is Campbell Brown?

Esquire, By Charlie Pierce, August 6

To paraphrase from my grandmother, the former shepherd lass from the hills and hollows of north Kerry, who the fck is Campbell Brown when she’s at home?

Well, on the basics, she’s from Ferriday, Louisiana, the hometown of Jerry Lee Lewis, and she graduated from Regis University in Denver […]

Gagging in Australia

The Twitterverse and FB are alive with the sounds of Wikileaks latest release, the text of a gag order imposed on any revelation of an ongoing investigation into multinational bribery.

The case concerns allegations of multi-million dollar payments to persons with high-level political connections in AMalaysia, Vietnam and Indonesia in order to secure contracts for […]

If You Had Told Me This Appeared on The Federalist Website….

…I would have laughed in your face. But it did:

Why abandon K-Street, and acknowledge, then reject, the Big Business perception of the GOP? They’ve had the Republican Party’s back for some time, right? In the past, the largest companies favored one party over the other because they understood a pro-capitalist, low-regulation government benefits […]

Users