“Financial develeraging and tightening regulation are not totally surprising news. But the reason the new has dealt such a blow was because it sent a message about the time frame. The financial work conference is held every five years, so markets expect the tightening to last for the next five years,” said Cui Xuetong, a manager for Beijing-based Zhongtou Tiancheng Asset Management.
If the BOJ were to make a change sometime down the road, it could increase the proportion of purchases in the broader Topix stock index while cutting back on the Nikkei, said the people, rather than reducing the overall quantity of purchases. The timing of any such change would depend on a range of conditions, including the state of the economy and inflation, and possibly the extent of public criticism of its ETF buying, they said.
In the Hoover paper, the authors say the nation’s economic policies are the primary cause of both the productivity slowdown and what they call “the poorly performing labor market.” High taxes — particularly on businesses — costly regulations, debt-financed government spending and “the lack of a clear monetary strategy” have weighed on both business investment as well the supply and demand for labor.
The authors say the Trump administration’s tax reform plans would raise both productivity and employment.
Thoughts On Gold (GE Christenson)
In addition, gold’s MACD (lower indicator) is showing that its direction is about to change from negative to positive, so we should continue to see gold climb this week, but some profit taking is also expected as it moves up.
Who are the Transportation Disadvantaged? (Robert W.)
That's the average American- disadvantaged compared to his European counterpart, who can go for months without getting into an automobile, and never needs to own one. Whose fuel use and carbon dioxide emissions are much lower (a typical city bus gets about 360 passenger-miles per gallon.)
I stayed recently in a suburb of Zurich, Switzerland. The town had more local trains than my home county has bus lines. We could walk two blocks from our hotel and catch a train to go into the city, use the local trams to get around town, and return on the train in the evening. I hardly ever ride in an automobile in Europe.
But now, a group of 43 senators — 29 Republicans and 14 Democrats — wants to implement a law that would make it a felony for Americans to support the international boycott against Israel, which was launched in protest of that country’s decades-old occupation of Palestine. The two primary sponsors of the bill are Democrat Ben Cardin of Maryland and Republican Rob Portman of Ohio. Perhaps the most shocking aspect is the punishment: Anyone guilty of violating the prohibitions will face a minimum civil penalty of $250,000 and a maximum criminal penalty of $1 million and 20 years in prison.
The conventional model of schooling emerged in Prussia in the 18th century. Alternatives have so far failed to teach as many children as efficiently. Classrooms, hierarchical year-groups, standardised curriculums and fixed timetables are still the norm for most of the world’s nearly 1.5bn schoolchildren.
Too many do not reach their potential. In poor countries only a quarter of secondary schoolchildren acquire at least a basic knowledge of maths, reading and science. Even in the mostly rich countries of the OECD about 30% of teenagers fail to reach proficiency in at least one of these subjects.
The same could be said about Pace’s other passion—life on Earth. Most of it is microscopic and, until recently, most of it was completely unknown. To understand life on Earth, we need to first answer this simple question: What lives where? This is the essence of biogeography. It’s the question that sent naturalist-explorers like Charles Darwin and Alfred Russel Wallace sailing around the world, cataloguing its species, and eventually gaining the inspiration for the theory of evolution. It’s also a question that microbiologists had long ignored. The feeling was that “we already knew what was out there,” Pace once told me, when I interviewed him for my recent book. “People went out, overturned a rock, found a bacterium and thought it exemplary of what’s out there. It was stupid.”
As the conflagration snaked through hills and canyons, conditions on the ground and around the blaze became so intense that a large pyrocumulus cloud formed. So-called fire clouds develop when a blaze is so hot that it can create its own environment, said Jim Andersen, a meteorologist with the National Weather Service in Hanford.
“Any time you see a fire with a pyrocumulus, you know the fire is really roaring,” he said. “It takes an insane amount of heat.”
Gold & Silver
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