Daily Digest 10/13 - Threat Of 2013 Recession "Alarmingly High," Collapse Of The Current Monetary System?
I too advocate educating young people about finance and economics. But my conception of “education” involves teaching people about those markets so that they are empowered to make appropriate investment decisions. One thing we have all learned from the crisis is that it is imperative that individuals living in a capitalist economy learn how markets function. This includes understanding risk and return, conflicts of interest, and how warped incentive systems can cause bad behavior. It also includes understanding how rent-seeking industries use the lobby system to write legislation that benefits themselves at the expense of everyone else in the marketplace. That is education – actually informing people of facts, and then arming them with analytical tools that enable them to make reasoned decisions about their own risk and return options.
IMF Chief Economist Oliver Blanchard said, “Low growth and uncertainty in advanced economies are affecting emerging market and developing economies through both trade and financial channels, adding to homegrown weakness.”
How the “news” ruins your health (Coley H.)
There’s little question that chronic stress eventually breaks down our self-control. We feel intensely stressed and we don’t know why, so we seek to lessen that stress using the only tools (all of them external) that we believe are at our disposal: food, pharmaceuticals, shopping, drugs, alcohol, etc.
Collapse Of The Current Monetary System? (Arthur Robey)
Gold’s growth ahead far greater than what’s behind
– Just how smart is the average investor?
– Ian McAvity Dow/Gold Target: One to One
– Monetary Sin Of the West
Welcome to Capital Account. The global rate-cutting race continues, with two central banks lowering their interest rates in the past 24 hours. The Central Bank of Brazil and the Central Bank of South Korea lowered rates by a quarter of a percentage point, while China continued its easing policy to offset tight liquidity conditions. We talk to Dr. Stephen Leeb, chairman of Leeb Capital Management, about the global impact of loose monetary policy on commodity prices.
"Reducing the extinction threat for all species would cost $5bn a year, but establishing and maintaining a comprehensive global network of protected areas would cost substantially more," said Mr McCarthy.
"It could be up to $76bn annually to meet both targets."
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