Civilian Unemployment & Recessions (2)
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Barry Ritholtz (406)
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The Big Picture (1639)
12 hours, 9 minutes
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The year on year rate of change of the official civilian unemployment rate is the measure, and when this passes 15, then every time it has done this USA has been declared in a recession at a latter point in time (see 3rd panel) Chart via iTulip > Legend: Shaded area are recessions 1st Panel - USA GDP and USA GDP without exports2nd Panel - Civilian unemployment rate3rd Panel - Rate of change of series ...
World’s Largest Gold Refiner Runs Out of Krugerrands (1)
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kevin (300)
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cryptogon.com (16)
1 day, 9 hours
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Via: Bloomberg: Rand Refinery Ltd., the world’s largest gold refinery, ran out of South African Krugerrands after an “unusually large” order from a buyer in Switzerland. The order was for 5,000 ounces and it will take until Sept. 3 for inventories to be replenished, said Johan Botha, a spokesman for Rand Refinery in Germiston, east of Johannesburg. [...]
CCP Games economist speaks about EVE's pure capitalist market (1)
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James Egan (15)
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Massively (219)
1 day, 12 hours
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Filed under: Sci-fi, EVE Online, Economy, Game mechanics, Guilds, Crafting, News itemsThe player-driven economy of EVE Online is large and complex, mirroring some of the intricacies of real-world economics. As the player base and the collective scope of their activities in-game expanded, CCP Games sought out an economist to monitor and, if need be, regulate New Eden's economy. CCP's Lead Economist, Dr. Eyjólfur Guðmundsson, recently spoke at the Edinburgh International Festival about how who he ...
Ο Αλογοσκούφης έχει χάσει την μπάλα. Οδηγεί την Ελλάδα στο κενό (1)
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Titanas (81)
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pestaola.gr blog (85)
1 day, 19 hours
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Καταλαβαίνω ότι μέρες και νύχτες ο Υπ. Οικονομίας και Οικονομικών κ. Αλογοσκούφης μένει μόνος προσπαθώντας να λύσει τα οικονομικά προβλήματα της χώρας αλλά τα νέα μέτρα που ανακοίνωσε είναι κάτι περισσότερο από γελοία. Η μανία καταγραφής των πάντων δεν λέει να τελειώσει αλλά αυτό δεν είναι απαραίτητα κακό. Εξοργίζομαι όμως όταν διαβάζω ότι το νέο νομοσχέδιο θα προβλέπει επίσης νέα περαίωση για ανέλεγκτες φορολογικές υποθέσεις για τις χρήσεις 2000-2006. Για άλλη μια φορά όλοι θεωρούνται ...
Excuse Me! How To Regulate Micropayments? (1)
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admin (12136)
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The China Vortex (72)
1 day, 20 hours
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In China, you know something has become big when the government starts worrying about how to regulate it. (Come to think of it, that’s the way it is with most governments, not just China’s.) China’s central bank, the People’s Bank of China, has asked the Finance Department of People’s University in Beijing to come up with draft plans to regulate micropayments in China. (People’s University is traditionally the training ground for government officials.) Right now, ...
Is BEA Measuring Growth or Inflation? (1)
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Barry Ritholtz (406)
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The Big Picture (1639)
1 day, 20 hours
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We noted earlier today that the Bureau of Economic Analysis reported revised Q2 GDP data at a better-than-expected annualized 3.3%. As discussed in the comments, the measure of Inflation is crucial to getting an accurate read on GDP (or Durable Goods). Say you live in a country that produced $100X worth of widgets in Year 1. In Year 2, it produced $110X worth of widgets. What was your GDP gains? 10% ? 0% ? Or ...
Goldman Sachs’ Jan Hatzius: Don’t Be Fooled by Inflation (1)
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Barry Ritholtz (406)
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The Big Picture (1639)
1 day, 21 hours
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This whole week, I've been out of the office, and of course, each data release is I didn't get a chance to review in real time had some significant hair on it. Case in point: Durable Goods Orders. Indeed, yesterday's rally was (ostensibly) attributed to the surprising strength in Durables. Only not so much. When you consider the price rises that were included, the strength vanishes.Goldman Sachs’ Jan Hatzius: Durable Goods Orders: Don’t Be Fooled ...
Q2 GDP = 3.3% (2)
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Barry Ritholtz (406)
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The Big Picture (1639)
1 day, 22 hours
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GDP is out, ticking higher to 3.3% rather than 2.7% And if you believe that data, I also have a bridge for sale in Brooklyn. Why the beat on the headline figure? Aside from the usual inflation nonsense, there were two other factors: Exports, which rose to 13.2% (versus earlier reported 9.2%) and Inventories, which also played a part in the apparent strength. My fishing buddy John Silvia of Wachovia put it into context: "The ...
American Driving Declines By Steepest Amount In 100 Years (7)
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Ben Popken (785)
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Consumerist (3398)
1 day, 22 hours
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From November to June, American driving dropped by 53.2 billion miles, according to the Department of Transportation. Billion. 53.2 billion fewer miles. That's insane, and kind of beautiful. [NYT]
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Steve said:
Billion? with a B? wow!
The Price of Rat Meat has Quadrupled in Cambodia (1)
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kevin (300)
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cryptogon.com (16)
1 day, 23 hours
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Via: Reuters: The price of rat meat has quadrupled in Cambodia this year as inflation has put other meat beyond the reach of poor people, officials said on Wednesday. With consumer price inflation at 37 percent according to the latest central bank estimate, demand has pushed a kilogram of rat meat up to around 5,000 riel (69 [...]
Τα hedge funds «στεγνώνουν» την αγορά (1)
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H KAΘHMEPINH : Print Edition : 28/8/08 (2)
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Στην απληστία αλλά και στην απραξία των κερδοσκοπικών κεφαλαίων επιρρίπτει ευθύνες για την πιστωτική κρίση, που ταλανίζει τη διεθνή οικονομία ο νομπελίστας οικονομολόγος, Στάνφορντ κ. Μάιρον Σχολς. Μιλώντας χθες σε γεύμα εργασίας, που διοργάνωσε η τράπεζα... ...
Are you boosted, stimulated enough ? The government wants more (1)
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ThaiCrisis (5)
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Thailand Crisis (5)
2 days, 6 hours
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The government pledged yesterday to raise consumers’ purchasing power, boost export growth, ease liquidity constraints for small- to medium-sized enterprises (SME) and tourism operators and ensure foreign exchange stability for economic growth in the second half. According to Finance Minister Surapong Suebwonglee, more pro-growth measures are being planned to cope with expected challenges in the second half. In particular, exports are likely to be affected by the US economic slowdown, agriculture prices may fall from ...
How Have Economic Pressures Affected Your Home? (1)
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jeremy (316)
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Discovering Dad (26)
2 days, 7 hours
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The economic downturn has been tumbling for more than a year now. Cutbacks are happening in almost every industry, while expenses for essential items like gas, food and energy are increasing. All you have to do is look around your neighborhood or community to see that people are hurting. Heck - you don’t even need to leave your home to know that people in all walks of life are suffering and blogging about it. I’d ...
Bank of China Denies Aiding Terrorists (1)
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Sophie Beach (43)
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China Digital Times (131)
2 days, 7 hours
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The Bank of China has denied that it transferred money to terrorist groups as alleged in a recent lawsuit. From AP: The lawsuit filed last Thursday by victims of terrorism in Israel accused the bank of putting through dozens of wire transfers totalling several million dollars to Hamas and Islamic Jihad and ignoring Israeli demands to stop the practice. The lawsuit said the money helped to finance attacks between 2004 and 2007. The Beijing-based bank ...
McCain’s Tax Cuts Benefit the Rich Even More Than Bush (25)
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Matt (2707)
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Think Progress (1648)
2 days, 12 hours
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In 2001 and 2003, Sen. John McCain (R-AZ) opposed President Bush’s tax cuts, arguing that he couldn’t “in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us.” But since then, McCain has ditched his concern about policies tilted towards the wealthy and now wants to double Bush’s tax cuts. Examining McCain’s shifts on taxes today, the Wall Street Journal’s Martin Vaughan writes that “an ...
The real tragedy of higher gas prices? Celebrities flying — GASP! — commercial. (1)
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Cassy Fiano (28)
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Stop The ACLU (44)
2 days, 12 hours
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As Americans everywhere suffer from Nancy Pelosi’s unwillingness to alleviate the suffering at the gas pump, P. Diddy wants you to know that he understands. Check out this video, where he informs us that gas prices are too high. Know why? Because he, a celebrity with a private jet, has to fly commercial. Oh, the horrors: Can you imagine the horrors of having to fly with regular people? I mean, jeez. In all honesty, I ...
FDIC Friday: Columbian Bank and Trust of Kansas Shut by Regulators (1)
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kevin (300)
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cryptogon.com (16)
2 days, 13 hours
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Via: Reuters: Columbian Bank and Trust Co. of Topeka, Kansas, was closed by U.S. regulators today, the ninth U.S. bank to collapse this year amid bad real-estate loans and writedowns stemming from a drop in home prices. The bank, with $752 million in assets and $622 million in total deposits, was shuttered by the Kansas state bank [...]
Nobody Interested In Buying World’s Largest Record Collection (1)
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billg@oddculture.com (Bill G) (8)
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Odd Culture (12)
2 days, 16 hours
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This is from Gizmodo: World’s Largest Record Collection is Worth $50 Million; No One Wants it for $3 Million Somebody please buy my records, for God's sake!" />Somebody please buy my records, for God's sake!" title="paul_mawhinney3" width="475" height="266" />Somebody please buy my records, for God's sake! Paul Mawhinney built up the largest collection of vinyl in the world (over 3 million records), over a span of 50 years. He is trying to sell it through ...
AFL-CIO President: ‘John McCain Is Wrong’ on the Economy (3)
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Ali (388)
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Think Progress (1648)
2 days, 20 hours
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Last week, Sen. John McCain (R-AZ) said again, “I still believe the fundamentals of the economy are strong.” Though he has waffled on this point in the past — declaring in April we had made “great progress economically” during Bush’s presidency before reversing himself 24 hours later — he was clear last week in declaring the U.S. “still the most innovative, the most productive” country. ThinkProgress spoke with AFL-CIO President John Sweeney today at the ...
FDIC MAY BORROW MONEY FROM TREASURY (1)
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kevin (300)
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cryptogon.com (16)
2 days, 21 hours
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Via: Reuters: Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported. The borrowing could be needed to cover short-term cash-flow pressures caused by reimbursing depositors immediately after the failure of a bank, the paper said. The borrowed money [...]
