Hostage to a Bull Market (reflector, Thomas C.)
In a deep recession, Mr. Rogoff proposes, the Fed ought not to stop cutting rates when it comes to zero. It should plunge right ahead, to minus 1%, minus 2%, minus 3% and so forth. At one negative rate or another, the theory goes, despoiled bank depositors will stop saving and start spending. According to the worldview of the people who constitute what Mr. Rogoff fraternally calls the “policy community” (who elected them?), the spending will buttress “aggregate demand,” thus restore prosperity.
But the recovery remains incomplete. The median household income is still 1.6 percent lower than in 2007, before the recession. It also remains 2.4 percent lower than the all-time peak reached during the economic boom of the late 1990s.
Murders Are Spiralling Out Of Control In Chicago (Thomas C.)
500 people have been murdered in Chicago this year, more than Los Angeles and New York combined. The number of homicides has hit a 20-year high and the city hasn’t experienced a single day without someone being murdered since February of last year. A BBC report on the violence in the Windy City compared the number of deaths there with U.S. war dead in Afghanistan and Iraq.
Gold And U.S. Imported Oil (GE Christenson)
I plotted the approximate expenditures for imported oil by taking the average price for a barrel of crude oil each year and multiplied that price by imported barrels. Excel calculated an exponential curve that shows the huge increases in expenditures as well as the dramatic recent decline since 2011 due to reduced imports and much lower prices.
Although the unfunded liabilities problem encompasses the totality of future benefits and welfare commitments that governments cannot afford to honor on today’s budgets and projected returns, the most urgent of those, and the one that has captured the public’s attention, is pensions. On both sides of the Atlantic, fears over an imminent pension crisis are on the rise. And it is not just state-run plans that are at risk: the monetary policy and economic environment of the last years has thrown private pension fund completely off-course as well.
In this exclusive report, distinguished research psychologist Robert Epstein explains the new study and reviews evidence that Google’s search suggestions are biased in favor of Hillary Clinton. He estimates that biased search suggestions might be able to shift as many as 3 million votes in the upcoming presidential election in the US.
Biased search rankings can swing votes and alter opinions, and a new study shows that Google’s autocomplete can too. A scientific study I published last year showed that search rankings favoring one candidate can quickly convince undecided voters to vote for that candidate — as many as 80 percent of voters in some demographic groups. My latest research shows that a search engine could also shift votes and change opinions with another powerful tool: autocomplete.
“There’s only so much you can squeeze out of the debt cycle, and we’re there globally.”
Most catalytic converters sell for between $20 to $240 each. Repairs usually cost between $500 and $2,300, but the NICB noted that this number can skyrocket because often “vehicles are significantly damaged in the theft process.” One person the LA Times spoke to said an auto repair shop charged $2,700 to replace the stolen catalytic converter on their Prius and build a steel cage around the component to discourage future theft.
There’s a common line among climate skeptics that “[t]he climate has always changed, so why worry if it’s changing now?” The first half of that sentence is undeniably true. Due to orbital wobbles, volcanic activity, rock weathering, and changes in solar activity, the Earth’s temperature has waxed and waned over the past 4.5 billion years. During the Paleocene it was so warm that crocodiles swam above the Arctic Circle. And 20,000 years ago it was cold enough that multi-meter-thick glaciers covered Montreal.
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