“It’s a mirage built upon risks,” said He Xuanlai, of Commerzbank AG. The Singapore-based analyst cited smaller banks’ use of so-called “investment receivables” — including asset management plans and wealth management products — to boost lending without facing requirements to bolster capital and loan-loss provisions. “It’s hard to assess the banks’ true asset quality.”
He compares three policy approaches. The first assumes a linear world where fed funds can go into negative territory but there is no breakdown in the structure of economic relationships. It is probably not a realistic view of policy ineffectiveness at negative rates, but it is mean to be a baseline. The second just takes fed funds down to zero and keeps it there long enough for unemployment to return to baseline.
“I have a technical level for gold, it is $10,000 U.S. per ounce. That amount gets bigger over time because it’s a ratio of physical gold to printed money. The amount of physical gold doesn’t go up very much, but printed money goes up a lot, so the dollar target goes up more over time because of all the money printing.
Yup! The NSA Got Hacked (jdargis)
The tool allows the NSA to execute “man-in-the-middle” attacks, which intercept traffic on a network as it’s traveling from its origin to its destination. The agency used it to redirect users who think they’re browsing safe websites to NSA-run servers that infect their computers with malware—and then back to their destination before they know what happened. In a slide deck, the NSA used “cnn.com” as an example of the sort of site it could exploit to deliver its malicious code.
Young people, it seems, are finding themselves falling further and further away from the American dream of homeownership. As you’ve surely heard by now, not only are they not buying their own houses, but they’re also increasingly not even renting their own places. Instead, they’re returning to — or perhaps, never leaving — the nest.
The legal headache stems from several news reports that ExxonMobil buried decades of internal climate science in order to protect its interests. That has environmental groups crying foul, blaming the oil company for decades of policy inaction to stop the growth of greenhouse gas emissions. That also was a key reason that New York attorney general Eric Schneiderman, along with several other AGs from different states, opened up an investigation into the company.
The data is pulled from sources like the Department of Energy and the census. “This is really the first time that all of this data is brought together in one flow diagram, which is important if you really want to understand the consequences through the whole economy of things like defense,” he says.
A just-completed project off the coast of Rhode Island, though relatively tiny, is at the forefront of a sea-based transition to renewable energy.
Gold & Silver
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