“This is largely talk right now, but the problem is neither Turkey nor Russia really need war in the Caucasus,” said Paul Stronski, a senior associate at the Carnegie Endowment for International Peace. “The situation between Armenia and Azerbaijan has been pretty dangerous already. It’s clear that things can easily get out of hand.”
Why This Sucker Is Going Down Again (Aaron M.)
I have refuted that hoary tale in detail in The Great Deformation. The short of it is that the banking system collapsed because it was insolvent after the 15-year, debt-fueled boom of World War I and the Roaring Twenties, not because it was parched for liquidity or because the Fed had been too stingy in the provision of reserves.
There are three parts to this chart. Let’s look at them one at a time. The red line is real final sales per capita, which means all sales in the economy adjusted for inflation divided by the population, i.e. per person.
Canadian banks earn $96 million a day in 2015 (Uncletommy)
Most of the strong fourth-quarter performance came from personal and commercial loan businesses. Consumer loan growth hasn’t slowed despite predictions that record household debts and worsening economic conditions could mean more defaults and fewer new loans.
The U.S. had seen years of slow health-care cost growth after the economic downturn that ended in 2009. The 2.9 percent rise in 2013 was the slowest in the 55 years that the U.S. has studied the figure. Actuaries at the Centers for Medicare and Medicaid Services, or CMS, estimated in July that spending will rise an average of 5.8 percent a year over the decade through 2024.
Eric Sprott discusses this past week’s events in markets and metals, and gives his forecast for the next couple of weeks.
Fed officials keep saying they are data-dependent in their policy choice, and this data backs up the idea that the United States economy is fundamentally in pretty decent shape, with consistent job growth and a low enough unemployment rate that employers are starting to offer workers higher raises.
Australia riding coal train despite climate pleas (Uncletommy)
Last week (Nov 27) New South Wales approved the extension of the long-standing Mount Thorley Warkworth mine, despite fears it would result in wildlife habitat destruction, reduced air quality, and through the burning of the coal, release even more of the greenhouse gases blamed for climate change.
Gold & Silver
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