Since the drive to collect on very old debts began in 2011, the Treasury Department has collected $424 million in debts that were more than 10 years old. Those debts were owed to many federal agencies, but the one that has many Americans howling this tax season is the Social Security Administration, which has found 400,000 taxpayers who collectively owe $714 million on debts more than 10 years old. The agency expects to have begun proceedings against all of those people by this summer.
This rise of the robots certainly seems to have helped ordinary investors. Bid-ask spreads—the difference between what buyers want to pay and sellers want to be paid—have fallen dramatically the past 20 years. Part of this is because, since 2001, stock prices have gone from trading in fractions to pennies—which has allowed them to be increasingly precise. Another part is that electronic trading, though not super-fast, has made markets more liquid. And the last part is that HFT has added even more liquidity, eliminating bid-ask spreads that would have been too small to do so before. Indeed, researchers found that Canadian bid-ask spreads increased by 9 percent in 2012 after the government introduced fees that effectively limited HFT.
Why Do Investors Make Bad Choices? (jdargis)
The second mistake involves “loss aversion.” People tend to hate losses from the status quo – in fact, they hate them far more than they like equivalent gains. If you suddenly lose $10,000, the distress you would feel would almost certainly be greater than the joy you would feel if you suddenly gained $10,000.
We are sure the fact that the industry has been overbuilt – based on Keynesian-policy-inspired mal-investment and mispriced signals from global markets – will be used as the excuse for the collapsing price of shiiping dry bulk… but that argument s entirely circular and fallacious as it merely reinfoces the unintended consequences of the oh so visible hand in the world’s markets and leaves more zombie entities clogging up any potential economic growth that is possible in a world of peak debt.
It becomes clear over a long conversation that she does not understand how colleges define basic, crucial terms like “need,” “aid” or “need-blind admission,” and she does not know that those definitions vary from place to place. Her confusion is distressingly common, as demonstrated in studies, surveys and interviews with students and parents.
It was not until the mischievous moralist Bernard Mandeville that someone attempted to gloss greed as anything other than a shameful motive. A name now largely lost to history, Mandeville became a foil for 18th-century philosophy when, in 1705, he first proposed his infamous equation: Private vices yield public benefits. It came as part of The Fable of the Bees, an allegorical poem that described a thriving beehive where dark intentions keep the wheels of commerce turning. The outrage Mandeville stoked had less to do with this causal explanation than with the assertion that only by such means could a nation grow wealthy and strong.
Like the United States and Europe, China wants to wean itself from its dependence on energy imports — and in Jiaoshizhen, the Chinese energy giant Sinopec says it has made the country’s first commercially viable shale gas discovery. Its efforts could also help address another urgent issue, as Beijing looks to curb an overwhelming reliance on coal that has blackened skies and made China the largest contributor to global warming.
White-Nose Syndrome (WNS) (Wendy SD)
White-nose syndrome (WNS) is an emergent disease of hibernating bats that has spread from the northeastern to the central United States at an alarming rate.
The true ecological consequences of large-scale population reductions currently under way among hibernating bats are not yet known. However, farmers might feel the impact. In temperate regions, bats are primary consumers of insects, and a recent economic analysis indicated that insect suppression services (ecosystem services) provided by bats to U.S. agriculture is valued between 4 to 50 billion dollars per year.
Gold & Silver
Provided daily by the Peak Prosperity Gold & Silver Group
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