Fed’s Williams: Expect to see growth of 3% in 2015, unemployment rate at 5% (thetallestmanonearth)
“I see us getting to full employment basically by the end of this year or before then, and in fact having a pretty strong labor market,” Williams said, explaining that he assesses normal levels of employment to be about 5.2 percent.
Consequently, he predicted that wage growth and inflation would both edge higher “once we get past this period of low inflation.”
Yum’s testimony represents another damning line of evidence connecting Ulbricht to the Silk Road, on top of a journal detailing the Silk Road’s creation found on his laptop and testimony from a college friend who said that Ulbricht confessed creating the site to him. Ulbricht’s defense has argued that despite initially founding the Silk Road, the 30-year-old Texan quickly gave it up to the site’s real owners, who later lured him back just before his arrest to serve as the “perfect fall guy.” But Yum’s analysis showed that Ulbricht was receiving bitcoin transfers from Silk Road servers in data centers near Philadelphia and Reykjavik, Iceland long after his defense has argued he turned over control of the site.
Credit card users easily identified from ‘anonymized’ data (westcoastjan)
“We are showing that the privacy we are told that we have isn’t real,” study co-author Alex “Sandy” Pentland of MIT said in an email. His research found that adding just a glimmer of information about a person from an outside source was enough to identify him or her in the trove of financial transactions they studied.
Companies routinely strip away personal identifiers from credit card data when they share information with outsiders, saying the data is now safe because it is “anonymized.” But the MIT researchers showed that anonymized isn’t quite the same as anonymous.
“You should be seeing the manufacturing sector step up, and it’s really disconcerting that it isn’t happening,” Kevin Hebner, an FX strategist at JP Morgan, said in a telephone interview. “What will pick up the slack if Alberta goes into a recession and the energy sector isn’t adding any oomph to the economy?”
A graphic demonstration of that scene, and the financial-services industry ethos it describes, just hit the news in the form of a wild new report on the wide-scale scamming of ordinary investors. The “Ferris wheel” of conflicted payments, unnecessary fees and other shady practices apparently beats retirees for up to $17 billion a year, according to an internal White House memorandum.
Spain rally: Podemos holds Madrid mass ‘March for Change’ (westcoastjan)
Broadcaster TVE reported that hundreds of thousands were at the demonstration, but there was no official tally.
“The wind of change is starting to blow in Europe,” Mr Iglesias said, addressing supporters in Greek and Spanish at the start of the rally.
Meanwhile, Iran has vowed to attack Israel because of the airstrike that killed an Iranian General and a son of a Hezbollah leader in Syria. It is reported Iran has said it will attack Israel from the West Bank. Iran also reportedly told the U.S. State Department it was going to attack Israel. This is a new wrinkle. Iran did not say it was going to have Hezbollah or Hamas attack Israel. It stated Iran was going to attack Israel. This is a whole new level of rhetoric, and it is definitely a dangerous escalation of war talk.
One Of These Things Is Not Like The Other (pinecarr)
“Reality” is not “perception”
The One Way Forward (Nate)
The fact of the matter is that an industrial economy built to run on cheap conventional oil can’t run on expensive oil for long without running itself into the ground. Since 2008, the world’s industrial nations have tried to make up the difference by flooding their economies with cheap credit, in the hope that this would somehow make up for the sharply increased amounts of real wealth that have had to be diverted from other purposes into the struggle to keep liquid fuels flowing at their peak levels. Now, though, the laws of economics have called their bluff; the wheels are coming off one national economy after another, and the price of oil (and all those other commodities) has dropped to levels that won’t cover the costs of fracked oil, tar sands, and the like, because all those frantic attempts to externalize the costs of energy production just meant that the whole global economy took the hit.
The Mariners Rule (Nate)
There’s a long history behind such daydreams. Since colonial times, the lure of the frontier has played a huge role in the American imagination, providing any number of colorful inkblots onto which fantasies of a better life could be projected. Those of my readers who are old enough to remember the aftermath of the Sixties counterculture, when a great many young people followed that dream to an assortment of hastily created rural communes, will also recall the head-on collision between middle-class fantasies of entitlement and the hard realities of rural subsistence farming that generally resulted.
Gold & Silver
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