China’s Dangerous Dollar Addiction (Sparky1)
China understands its vulnerability. And its plan for weathering the storm is to challenge the hegemony of the dollar as a benchmark for pricing commodities. Even before U.S. President Donald Trump started to target Chinese products with various import restrictions, Beijing was already busy launching yuan-denominated futures for oil and iron ore—that is, contracts that allow buyers and sellers to exchange future quantities of those commodities at a predetermined price so that they can avoid uncertainty due to price fluctuations. In the coming months, Beijing might try to make the list of commodities that are traded in its domestic currency even longer.
America’s Social Depression Is Accelerating (pinecarr)
Beneath the rah-rah statistics of “the greatest economy ever,” the social depression is accelerating. The mainstream is reluctantly waking up to the future of the American Dream: downward mobility for all but the top 10% of households. A 2015 Atlantic article fleshed out the zeitgeist with survey data that suggests the Great Middle Class/Nouveau Proletariat is also waking up to a future of downward mobility: The Downsizing of the American Dream: People used to believe they would someday move on up in the world. Now they’re more concerned with just holding on to what they have.
But instead of reducing poverty in the United States, Congressional Republicans are chipping away at the existing programs that support low-income people. Congress was so fixated on repealing the Affordable Care Act this summer that it ran out of time to reauthorize the Children’s Health Insurance Program (CHIP), which insures 9 million kids. It has been 73 days since CHIP’s funding expired, and more than half of states could run out of money in the first months of 2018. Some are already paring back services in preparation.
The political implications of this are considerable. As Ludwig von Mises once noted, once we get to the point that a majority of the voting population receives more in benefits than it pays in taxes, then voters will demand more and more wealth be transferred to them through government programs. It will then become politically necessary to extract larger and larger amounts of wealth from a minority in order to subsidize the majority.
And while this may sou[nd] like wild speculation, DeMillo notes that: “The reason for the wild speculations is because the people responsible for finding out if election tampering is going on aren’t interested in doing so.”
It was the conservatives, Gillum said, who had rejected the Obamacare Medicaid expansion that would have insured seven hundred thousand Floridians, and conservatives who had kept ex-felons, his brother among them, from voting. In Tallahassee, he had opened up most municipal jobs to those who had been in prison, and found that they were among the city’s hardest-working employees. “We can have that kind of state,” Gillum said. The congregation prayed over him, right arms extended.
According to a report from CBS News, authorities are currently using “data analytics” to spot similar packages to those identified as containing bombs. Images of packages shared with the press show a common return address, using the misspelled name of Representative and former Democratic National Committee chair Debbie Wasserman Schultz.
The rise in job creation extends from the retail bubble, where low wage service jobs are available in abundance, yet higher wage jobs that support families are dwindling. This explains why companies looking to fill vacant employee positions are having such a hard time. Over 95 million working-age people are unemployed in the U.S. but are not counted as unemployed by the Bureau of Labor Statistics. Millions of people who find it more profitable to stay home and collect welfare benefits than slave away in a McDonald’s or a Walmart.
The main services index rose at the slowest pace in four months in September amid near stagnation of new business. Companies reported that market conditions were underwhelming with growth activity slowing in finance and insurance sectors and business services. The Nikkei India Composite PMI Index also fell, as weaker services activity eclipsed a slight improvement in the manufacturing gauge. The services sector accounts for about 55 percent of the nation’s gross domestic product.
The biggest of big pictures (thc0655)
Do try to look at issues from all sides in order to understand both strategic considerations and prospective outcomes. Understand that characteristics which may apply to one side do not necessarily apply to the other. For example, financial analysis that applies to the US economy does not necessarily apply to China’s. Do try to remain neutral and objective, analytical and unbiased. Remember the old stockbroker’s adage: where there’s a tip, there’s a tap, meaning that the dissemination of information is usually designed to promote vested interests.
“The past 30 years have seen far greater wealth creation than the Gilded Age,” the UBS report notes. “That period bred generations of families in the U.S. and Europe who went on to influence business, banking, politics, philanthropy, and the arts for more than 100 years.”
Companies back in the market for their now cheaper stocks couldn’t come at more crucial time for the market. The Dow Jones Industrial Average (^DJI) tanked more than 600 points on Wednesday amid growing worries about impacts to companies from the U.S./China trade war and rising interest rates. Solid earnings from the likes of Netflix, Caterpillar and Boeing have been largely ignored by investors that are worrying on the global growth outlook for 2019.
The philosophy major concedes that his student loan balance of around $20,000 isn’t as large as the burden shouldered by many other borrowers, but he said his difficultly finding a college-level job in the U.S. has made that debt oppressive nonetheless. “If you’re not making a living wage,” Haag said, “$20,000 in debt is devastating.”
“People are moving out of China because they are panicked,” Rick Helfenbein, president of the American Apparel & Footwear Association, said in an interview in Hong Kong on Tuesday. But “certain things are really, really hard to move.”
In filings due Friday, General Motors Co. planned to propose that, rather than oppose California’s so-called zero-emission vehicle sales mandate, federal regulators should embrace a nationwide electric-car sales program starting in 2021. Honda Motor Co., meanwhile, took exception to President Trump’s proposed freeze on mileage standards and called for steadily increasing requirements to continue.
The Outlook expects global materials use to rise from 90 gigatonnes (GT) today to 167 GT in 2060, because of the increase in world population to 10 billion people expected by then, and the rise in average global income per capita to converge with the current OECD level of US$40,000 (€34,900).
While it may present a new opportunity to protect endangered felines around the world, the findings come too late for three subspecies that have already gone extinct: the Caspian (1970), the Bali (1937), and Javan tigers (1976, although some claim to have since spotted it).
In order to study the network of species interactions, the team developed a DNA-based tool to rapidly identify greenflies collected in the field, enabling them to see whether they had been parasitsed as well as the identity of the natural predator based on the DNA of their eggs injected into the insects.
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