New York Times, By Binyamin Appelbaum, December 11
Annapolis, MD — Frank Walsh still pays dues to the International Brotherhood of Electrical Workers, but more than four years have passed since his name was called at the union hall where the few available jobs are distributed. Mr. Walsh, his wife and two children live on […]
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 […]
Bloomberg View, By Leonid Bershidsky, December 9
With the ruble down 40 percent against the dollar so far this year, and down more than 14 percent in the last 30 days, one might have expected widespread economic panic among Russians. But there’s been nothing of the kind. It’s been business as usual in Moscow: no […]
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 […]
Global financial crises have a tendency to spring upon the world unsuspected, especially if the foreign exchange markets are involved, since they tie all global markets together (equities, bonds, commodities, derivatives). That’s why it is necessary to keep one eye fixed for the moment on the yen.
The yen was trading around Yen 100/$ […]
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?
RT, December 04
Congress is poised to give a foreign mining company 2,400 acres of national forest in Arizona that is cherished ancestral homeland to Apache natives. Controversially, the measure is attached to annual legislation that funds the US Defense Department.
This week, the House and Senate Armed Services Committees quietly attached a provision to […]
I love Bernie Sanders. I want to have his babby.
However, I think he needs to step back from this. His agenda is too easily co-opted by moderates and conservatives. It’s a nice counterculture statement of values, to be sure, but in the current environment completely unworkable.
I’ve been thinking about Ferguson and the […]
Washington Post, By Griff Witte, November 26
Calais, France — Ibrahim’s odyssey has taken him over the hot sands of the Sahara and across the vast Mediterranean in a death-defying, thousands-of-miles-long quest.
Now the 21-year-old from the Sudanese region of Darfur is so close to his destination that he can see it shimmering on the […]
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 […]
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 […]
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 […]
Just about everything the Federal Reserve Bank does speaks of dignity. Dignified premises, dignified public relations, dignified people running and staffing the institution. The same applies to all the other major central banks, like the Bank of England, the Banque de France, the Deutsche Bundesbank, the European Central Bank, and the Bank of Japan. You […]
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 […]
Rolling Stone!, By Matt Taibbi!, November 6
She tried to stay quiet, she really did. But after eight years of keeping a heavy secret, the day came when Alayne Fleischmann couldn’t take it anymore.
“It was like watching an old lady get mugged on the street,” she says. “I thought, ‘I can’t sit by […]