Earlier, Di Maio inked a preliminary deal making Italy the first major wealthy Western nation to endorse China’s ambitious “Belt and Road” infrastructure project despite worries amongst key allies that this could undermine Western interests.
Di Maio told reporters the government remained committed to its Western partners but said it had to put “Italy first”.
Economic gloom hits world stock markets (Thomas R.)
The so-called yield curve, which tracks the spread between short- and longer-term rates on US Treasury bonds, briefly inverted on Friday, with yields on three month bonds falling below those for 10-year notes — the first time this had happened since before the global financial crisis in 2007.
The yield curve is closely watched since it has inverted prior to recessions in recent decades.
America in 2050 (Sparky1)
Roughly half or more of every income group predict a weaker economy in the next 30 years. However, Americans in higher-earning families are somewhat more likely than lower-earners to say the economy will be better in 2050 than it is today. About four-in-ten adults (43%) with family incomes of $75,000 or higher say the economy will be stronger, a view shared by 35% of those earning less.
The study discovered that out of a huge daily reported bitcoin volume of US$6 billion, only US$273 million of it was actually legitimate trade. The rest of the volume was created by dishonest reporting. Bitcoin’s exchange rate with the US dollar has fallen dramatically from its lofty peak of nearly US$20,000, but its value seems to have stabilized to some extent over the last few weeks. The last thing legitimate bitcoin traders need right now is more investors getting jittery about the outlaw nature inherent in a lot of cryptocurrency business.
Schools Aim to Teach Teens Financial Savvy (edelinski)
Classes like Mr. Cole’s are part of a broader trend of state governments seeking to help individuals get their financial lives in order. To help the estimated 42% of private-sector workers who don’t have access to retirement-savings plans at work—many of whom don’t save at all—some states are enacting programs that require or encourage companies without these plans to offer them and, in some cases, automatically enroll employees.
JP Morgan, banks face probe over ‘manipulation’ (Thomas R.)
“We have received complaints that some banks led clients to buy foreign currencies in a manipulative and misleading way. Our agency has launched an investigation and a probe and the necessary administrative and judicial processes will be conducted,” the Banking Regulation and Supervision Agency (BDDK) said in a statement on March 23.
The BDDK, however, did not name those banks mentioned in the statement.
Also, a 25-30% chance of recession is not that high. Going back from 1960 to 2018 we have 59 years of data. We’ve had U.S. recessions during 16 of those years. So even before any more sophisticated forecasting methods, your chance of being in a recession in any given year are 27%. There’s some auto-correlation there too, as recession years come in clusters, but still, saying the chance of recession coming within a year or so is around one in four isn’t that different from what history tells us regardless of what the economy is doing. Of course, even at a 30% probability the chances are roughly twice as high that a recession does not occur.
Walmart Neighborhood Markets are about one-fifth the size of a Walmart Supercenter, and they are typically in areas that are more than where Supercenters are located. These stores focus primarily on selling groceries.
3 Reasons to Retire as Early as You Can (Thomas R.)
You can use the flawed-but-still-helpful 4% rule to help you roughly estimate how much annual income you might wring from the amount you have saved up and the amount you expect to have at retirement. The rule suggests that you can withdraw 4% of your nest egg in your first year of retirement, adjusting future withdrawals for inflation, in order to make your money last for 30 years. The table below shows how much you might withdraw in your first year of retirement from nest eggs of various sizes.
“The bear case [for oil] is continuing fears about global demand,” Croft said Thursday. “That is a really big headwind for a lot of people on oil. They’re very concerned still about where trade talks go. They’re very concerned about potentially weak numbers out of China; what does that mean for oil demand? So I really do think that the demand story is the big, looming negative headwind for oil. I think it’s kind of the sum of all fears in terms of the oil market.”
Whether being able to give the president something positive to say about GM amid his slew of critical remarks factored into this equation, we’ll probably never know. But in any case, expect another EV from Chevy sometime early next decade. We don’t have exact timing, but back in 2017, GM promised 20 electric vehicles by 2023, and Automotive News wrote that two of those would be Bolt-based and launch by roughly April, 2019. I doubt GM will meet that timing, but I bet this new Bolt-based car isn’t too far off.
The INVISTA plant in La Porte, Texas, is one of several facilities in Texas where Koch manufactures some 4 billion pounds of nylon intermediate chemicals a year, for use in the production of INVISTA products like Stainmaster carpet, Antron carpet fiber, Cordura fabric and Lycra spandex. Formaldehyde is stored at the site, in the Houston suburbs, and a spill and vaporization could threaten almost 1.9 million people who live nearby.
‘Foram’ is a transformable, water-based architecture that, besides purification capabilities, can be utilized an educational tool for local populations. The raft system incorporates two major sections; one being the physical structure itself. Walkable areas — the other section — consist of spaces dedicated to urban farming, learning, floating-farm-to-table eatery, and ‘water bar’.
“Kicking Bayer-Monsanto and its cancer-causing weedkiller off LA County property was absolutely the right call,” Environmental Working Group President Ken Cook said in a statement. “We know glyphosate causes cancer in people and shouldn’t be sprayed anywhere – period.
Members of the group, which claims its ideas have been wrongly dismissed and belittled by mainstream scientists, subscribe to a minority theory known as “hormesis.” It defies conventional wisdom by holding that damaging things that are dangerous in high doses might actually be beneficial to human health in small doses.
The territory had already warned drivers the road was expected to close on Thursday, which would have been almost two weeks earlier than the 15-year average closing date.
Now, the road’s closure appears imminent and only night-time travel is permitted.
Gold & Silver
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