The reduction in the cost of exporting offered by international transactions over the internet helps small firms in developing countries reach consumers all over the world. This column argues that this bias in favour of small firms has an impact on labour markets, as small firms tend to hire unskilled workers disproportionately. Show More Summary
Despite all the hoopla about Europe’s improving economic condition, the European Central Bank (ECB) is once again increasing their assets purchases (balance sheet) despite their already 0% main refinancing rate. The post Negative European 2Yr Sovereign Rates Hit 19 Countries As ECB Expands Balance Sheet was originally published at The Wall Street Examiner. Follow the money!
From Matthew Graham at Mortgage News Daily: Trump Administration Drama Pushing Rates Even LowerMortgage rates fell yesterday in response to a tweet about Trump disbanding his councils of CEOs. Twitter was in play again today. This time around it was Gary Cohn, Trump's economic advisor. Show More Summary
Chances are you haven't thought much lately about the economic tragedy that's unfolding in Puerto Rico. Not with nukes in North Korea and neo-Nazis and Obamacare repeal to dwell on. But today at the New York Times, Mark Weisbrot of the...Show More Summary
When workers are doing badly you can always count on a large number of economists to come forward with ways to argue it really ain't so. For example, we have heard endless stories about how our price indices hugely overstate inflation -- we're actually way better off than we think we are. Show More Summary
That moment you realize the Chinese administration understands economics better than the U.S. administration... From the Steve Bannon interview story: "In reality, China and the United States' long term cooperation has brought about real benefits for both countries' peoples, any unbiased person will clearly see this fact," [Chinese Foreign Ministry...
(August 17, 2017 03:52 PM, by Scott Sumner) Fifty years ago, the Red Guards were rampaging through the streets of Beijing. Chairman Mao issued weird, over-the-top statements about the evils of American capitalism. Free markets were seen as exploitation, as a sort of winner-take-all. Meanwhile, the US was... (0 COMMENTS)
From HotelNewsNow.com: STR: US hotel results for week ending 12 AugustThe U.S. hotel industry reported mostly positive year-over-year results in the three key performance metrics during the week of 6-12 August 2017, according to data...Show More Summary
Today's Water Cooler: Open thread
Corrections: One of the symbols had a typo. ECI should be ECL. Several new trades are being added to the list today. There are 2 new shorts and 10 new longs. Market Update Pro subscribers click here to download the daily trades update in pdf format. Show More Summary
1. “If we set up no smoking sections on airlines, then eventually you won’t be able to smoke at all on airlines. Then they’ll ban smoking in restaurants, then bars, then offices, then spaces outside offices, then hotel rooms and apartment complexes. Then they’ll start going after sugary drinks.” “Don’t be ridiculous.” 2. “If we […]
Part II Beauty, Cooperation, and the Hadza Hunter-Gatherers By Polly Cleveland In The Evolution of Beauty, Yale ornithologist Richard Prum elaborates on Darwin’s theory of the effect of sexual selection on evolution. Beyond “survival of the fittest”, the sexes have asymmetric interests. Show More Summary
Part 3 of a series about Taxing Businesses Combining the different scenarios from the previous two posts in the series, I highlighted the lowest marginal rate available to US businesses (one version with pass-though business income taxed as earned income the second taxed as unearned income). Show More Summary
Limiting access to guns, avoiding the glamorization of suicide, and keeping teenagers connected would all help.
Earlier from the Philly Fed: August 2017 Manufacturing Business Outlook Survey Manufacturing conditions in the region continued to advance in August, according to firms responding to this month’s Manufacturing Business Outlook Survey. Show More Summary
Several new trades are being added to the list today. There are 2 new shorts and 10 new longs. Market Update Pro subscribers click here to download the daily trades update in pdf format. Not yet a subscriber? Try the Market Update Pro including Daily Trades Beta risk free for 90 days. Show More Summary
The neoliberal order has failed and is creating more and more political and social upheaval. Some elements of a new system may be in sight.
World stock markets were mixed in overnight trading Thursday. The post Global Equity Markets Mixed In Wake Of Dovish FOMC Minutes was originally published at The Wall Street Examiner. Follow the money!
The caliber of discourse has degenerated utterly at NC in the wake of Charlotteville. I am disabling comments on all live posts. I am sick, now up until 9 AM ruining my health. I do not need this bullshit. It is not worth the effort to clean up the disinformation and the upset and dishonest […]
From the Fed: Industrial production and Capacity Utilization Industrial production rose 0.2 percent in July following an increase of 0.4 percent in June. In July, manufacturing output edged down 0.1 percent; the production of motor vehicles...Show More Summary