The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Cyprus,…
Tag: rate
According to the Bureau of Labor Statistics, the US economy created 236,000 new jobs in February. If you believe that, I have a bridge in Brooklyn that I’ll let you have at a good price….
It’s been five years since a few academics and journalists began to dig up evidence that something was wrong with the London Inter-Bank Offered Rate, or LIBOR (pronounced appropriately as “lie-bore.”) The data that curious researchers were…
In November the largest chunk of new jobs came from retail and wholesale trade. Businesses gearing up for Christmas sales added 65,700 jobs or 45% of November’s 146,000 jobs gain. With December sales a disappointment,…
America’s 10 most profitable corporations paid an average corporate income tax rate of just 9 percent in 2011, according to a study from financial site NerdWallet reported by the Huffington Post. The 10 companies include…
An Associated Press investigation has further revealed that poverty is increasing at a significant rate inside the United States. This conclusion was drawn from a survey of economists, research centers and assorted academics with varying…
A U.S. Geological Survey (USGS) team has found that a sharp jump in earthquakes in America’s heartland appears to be linked to oil and natural gas drilling operations. As hydraulic fracturing has exploded onto the scene,…
An inspection of antiques reflected in a mirror of an antique French wardrobe. Western furniture is getting increasingly popular in China. The number of Chinese browsing for antiques in UK auction houses is also growing…
Eurozone unemployment jumped to an all-time high in February, hitting southern nations the hardest as the social toll from the debt crisis grips the 17-nation bloc, official figures showed Monday. The jobless rate rose…
WALL STREET CONFIDENCE TRICK: How “Interest Rate Swaps” Are Bankrupting Local Governments “Far from reducing risk, derivatives increase risk, often with catastrophic results” – Derivatives expert Satyajit Das, Extreme Money (2011) The “toxic culture…