It is no secret that the South and East Asian economies have chafed under the multi-layered sanctions adopted by the United States, European Union and United Nations Security council against Iran for its civilian nuclear activities. India is now pushing back.
Read more...Higher education used to be free for millions of Americans. A transaction tax on the financial houses could help make it free again
Read more...If you think Independence Day came to be a national holiday as an organic expression of pride in our successful rebellion against England, you need to think twice.
Read more...In the wake of renewed interest in the Keystone Pipeline project and the likelihood that Obama will eagerly approve it unless we stop him, there’s a lot of interest in what actually flows through those pipes.
Read more...Ooh, here we thought bank reform was dead, and an unexpected front opens up.
Read more...By Delusional Economics, who is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from MacroBusiness
Manufacturing and PMI Data out for Europe overnight and, much like the flash data, the news is getting better but with some serious caveats.
Read more...Satyajit Das reviews three books about our current economic and political woes.
Read more...Despite all the consternation in the US about Edward Snowden’s revelations about the extent and intensity of snooping in the United States, it isn’t clear that the surveillance industry is even breaking a sweat. But the government and public uproar in Europe about US snooping on its supposed allies may change that pronto.
Read more...By lambert strether of Corrente. And we go to Happyville, instead of to Pain City. –Thomas Pynchon, Gravity’s Rainbow As ObamaCare inches painfully closer to its October 1 launch date, we’re getting more and more detail on how the exchanges (or “marketplaces”) will actually work. By design, ObamaCare doesn’t treat health care as a right, […]
Read more...By RJS, a rural swamp denizen from Northeast Ohio, and a long-time commenter at Naked Capitalism. Originally published at MarketWatch 666.
This week we’ll cover the first quarter GDP revision, personal income and spending for May, April’s Case-Shiller report, and May’s new home sales…. We’ll see how the annual growth rate for the US was revised from 2.4% to 1.8%, and how farm inventory growth managed to equal almost half of the 1st quarter GDP change. We’ll see that personal income and spending rebounded from the contraction reported for both in April, and that the core price index for personal consumption expenditures, which the Fed is supposed to be pushing higher, has continued to hover at record lows…. We’ll also see why the change in new home sales cannot be determined from the Census report, and why all census reports on new construction should be taken with a rather large grain of salt. We also have FRED graphs with the 20 Case-Shiller metro areas, that you can edit and change interactively, so there’s also something here everyone can play with….
Read more...Yves here. This post is a workmanlike compilation of trends in the driving habits of Americans. Some of the data shows that use of public transportation has been rising faster than population growth…yet budget stresses mean those services are regularly targeted for fare increases and schedule cutbacks.
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