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What We Read Today:

What We Read Today 18 December 2014

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

Obama Announces U.S. and Cuba Will Resume Relations (Peter Baker, The New York Times)  After a year and a half of talks, hosted by Canada and encouraged by Pope Francis, the United States and Cuba will restore diplomatic relations for the first time since they were abandoned by the Eisenhower administration in January 1960.  For more details see articles in the reading list below.

Read more ...


Econintersect News Briefs:

13 December 2014 Initial Unemployment Claims Rolling Average Marginally Improves and Remains Near Historic Lows

Blue Line 4 Week Average

The market was expecting the weekly initial unemployment claims at 288,000 to 300,000 (consensus 295,000) vs the 289,000 reported. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 299,500 (reported last week as 299,250) to 298,750. Rolling averages under 300,000 are excellent.

Read more »


Death and Injury Rates of U.S. Military Personnel During the Conflicts in Iraq and Afghanistan

from the Congressional Budget Office

In Operation Iraqi Freedom, which ended on August 31, 2010, some 3,482 hostile deaths occurred among U.S. military personnel and 31,947 people were wounded in action (WIA). More than 1,800 hostile deaths occurred during Operation Enduring Freedom (in Afghanistan and surrounding countries) through November 2014; about 20,000 more people were wounded in action.

Read more »


SEC Charges Avon With Bribing Chinese Officials

from the Securities and Exchange Commission

The Securities and Exchange Commission today charged global beauty products company Avon Products Inc. with violating the Foreign Corrupt Practices Act (FCPA) by failing to put controls in place to detect and prevent payments and gifts to Chinese government officials from employees and consultants at a subsidiary.

Read more »


17 December 2014 FOMC Meeting Statement: Looks Like the Low Federal Funds Rate Is Here to Stay

Econintersect: The Federal Open Market Committee (FOMC) - the board of directors of the Federal Reserve seemed to have a lot of discussion and word engineering in their meeting statement relative to when to start raising the Federal Funds rate. Some pundits  were expecting forward guidance in the meeting statement to say that the Federal Funds rate would rise sooner than later (because of the improving economy), but instead the statement was re-worded to say later than sooner:

Based on its current assessment, the Committee judges that it can be patient in beginning to normalize the stance of monetary policy. The Committee sees this guidance as consistent with its previous statement that it likely will be appropriate to maintain the 0 to 1/4 percent target range for the federal funds rate for a considerable time ....

Read more »


Infographic of the Day: How to Make Money Using YouTube

There are countless methods to make money online.

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How Fear Of Occupy Wall Street Undermined the Red Cross' Sandy Relief Effort

Special Report from ProPublica

by Justin Elliott and Jesse Eisinger, ProPublica

In the days after Superstorm Sandy, relief organizations were overwhelmed by the chaos and enormous need. One group quickly emerged as a bright spot. While victims in New York's hardest hit neighborhoods were stuck in the cold and dark, volunteers from the spontaneously formed Occupy Sandy became a widely praised lifeline.

Read more »


NATO capability reductions & cost cutting. A step too far?

from Felix Richter, Statista.com
by Niall McCarthy

According to a report by Roland Berger, Nato forces have endured drastic cuts over the past decade and a half.

Read more »


Possible Alternatives to Fannie Mae and Freddie Mac

from the Congressional Budget Office

More than six years after the federal government took control of Fannie Mae and Freddie Mac, policymakers are weighing a comprehensive overhaul of the mortgage finance system that could shrink or eventually close the two entities and create a system with more private capital. Fannie Mae and Freddie Mac were originally chartered as government-sponsored enterprises (GSEs) to ensure a stable supply of credit for residential mortgages nationwide. They operate in the secondary (or resale) market where they buy mortgages from the financial institutions that make the loans (thus ensuring that those institutions have a source of funds to originate new mortgages). Fannie Mae and Freddie Mac then pool those loans to create mortgage-backed securities (MBSs), which they guarantee against defaults on principal and interest payments by borrowers and sell to investors.

Read more »


Gold Mining Investment Scheme Charged with Making Misleading Statements that Mines Would Yield Millions of Dollars

from the Securities and Exchange Commission

The Securities and Exchange Commission today announced charges against two individuals and their companies behind an alleged gold mining investment scheme based in Miami.

Read more »


Infographic of the Day: Christmas Dinners from Around the World

What will you be eating on Christmas day?

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When Charter Schools Are Nonprofit in Name Only

Special Report from ProPublica

by Marian Wang, ProPublica

This post has been updated to include a response from National Heritage Academies.

A couple of years ago, auditors looked at the books of a charter school in Buffalo, New York, and were taken aback by what they found. Like all charter schools, Buffalo United Charter School is funded with taxpayer dollars. The school is also a nonprofit. But as the New York State auditors wrote, Buffalo United was sending " virtually all of the School's revenues" directly to a for-profit company hired to handle its day-to-day operations.

Read more »


Deaths from Jihadist Related Violence in November 2014

from Felix Richter, Statista.com
by Niall McCarthy

Iraq, Nigeria, Syria and Afghanistan accounted for 80 percent of all deaths from jihadist violence in November 2014. Iraq was the worst effected country by far last month, with 1,770 deaths.

Read more »


December 15 Weather and Climate Report: Not Quite El Nino?

Written by

This potential El Nino appears to be weakening going into January becoming a "near El Nino" but it will still have impacts especially because the water off the Pacific Coast is warmer than usual creating what is called a positive PDO pattern. It looks like the weather pattern is changing into a winter pattern which will make forecasting easier for NOAA. A new Seasonal Outlook will be issued on Thursday and it will be interesting to see if the reduced strength of the forecasted El Nino is reflected in the new Seasonal Outlook.

Read more »


Energy Company Charged with Deceptive Press Releases Touting Drilling Successes in Belize and Texas to Induce Investor Demand

from the Securities and Exchange Commission

The Securities and Exchange Commission today charged a New Orleans-based oil-and-gas company and five executives with running a stock trading scheme in which they claimed to have struck oil in Belize in order to manipulate the price of the company’s stock as they illegally sold restricted shares to the public.

Read more »


If the USA Navy Reduces Shipbuilding Proportionally to the Rest of Its Spending, It Is Building Too Many Ships

from the Congressional Budget Office

The Department of Defense (DoD) submitted the Navy's 2015 shipbuilding plan, which covers fiscal years 2015 to 2044, to the Congress in July 2014. The total costs of carrying out the 2015 plan—an average of about $21 billion in 2014 dollars per year over the next 30 years—would be one-third higher than the funding amounts that the Navy has received in recent decades, the CBO estimates. The Navy’s 2015 shipbuilding plan is very similar, but not identical, to its 2014 plan with respect to the Navy’s total inventory goal for battle force ships, the number and types of ships the Navy would purchase, and the proposed funding to implement the plans.

Read more »


Infographic of the Day: Lifehacks for Tech-Savvy Travelers

Get the most out of your next trip with some hacks and apps.

Read more »


Average Gasoline Prices for Week Ending 8 December 2014: Down 56.7 Cents from a Year Ago

Econintersect: Average gasoline prices fell 12.4 cents per gallon nationwide (Lowest since Oct 2009) this past week following the previous week's 9.7 cent fall from the week before. However, since 06 January 2014, gas prices have fallen 76.8 cents a gallon.


Average prices by region and a breakdown by grade follow after "Read more >>".

At the end of the article is a Gas Buddy graphic with access to local gasoline prices anywhere in the country.

Read more »


Asians Are the Most Avid Mobile Shoppers

by Felix Richter, Statista.com

According to a new report by digital advertising company Criteo, 30% of e-commerce transactions worldwide are now happening on mobile devices.

Read more »


The Search for Life in the Universe

Econintersect:  Nearly 2,000 exoplanets (planets outside our own solar system) have been identified to date, out of a possible 50 billion in our galaxy.  Of these approximately 50 million may have orbits in the habitable zone  (orbits properly distanced from their star/sun to have temperatures compatible with life). 

planets-exo-380x190
Watch video following the Read more >> jump.

Read more »


ISIS Killed Over 2,000 People In November

from Felix Richter, Statista.com
by Niall McCarthy

Over 5,000 people died in November due to jihadist violence, according to a BBC study.

Read more »


Top Fed Policy Group Brought Up Leak to Private Newsletter

Special Report from ProPublica

by Jake Bernstein, ProPublica.org

A leak of potentially market moving information from the Federal Reserve became a topic of conversation in the high-level Fed group that sets monetary policy.

Responding to a Freedom of Information Act request from ProPublica, the Federal Reserve acknowledged that the leak of confidential material to an investor newsletter is referenced in nine pages of transcripts of meetings of the Federal Open Market Committee in late 2012 and early 2013.

Read more »


The End of OPEC; America's Winning Hand

Special Investigative Report from Money Morning

by Kent Moors, Money Morning

Every 10 or 20 years a series of watershed events come together that change the face of the international energy picture.

The Saudi-led oil war is one of these pivotal situations.

Read more »


Over-Budget Construction Projects In Comparison

from Felix Richter, Statista.com
by Niall McCarthy

Last week, the New York Times revealed that the new train station at the World Trade Center is delayed and about $2 billion over-budget - nearly double the original estimate when plans were unveiled back in 2004.

Read more »


Infographic of the Day: Content Marketing

It is no longer a question of whether you should produce educational, entertaining, and compelling content - but how it is marketed.

Read more »


Attorney Charged with Ponzi Scheme that Defrauded Clients, Family and Friends

from the Securities and Exchange Commission

The Securities and Exchange Commission today charged a Manhattan-based attorney with conducting a Ponzi scheme that defrauded some of his legal clients as well as close family members and friends.

Read more »


Earnings and Economic Reports: Week Starting 15 December

Written by Merlin Rothfeld, Online Trading Academy

Econintersect: Here is a day-by-day rundown of the global economic calendar events for the coming week and the important earnings announcements each day, as well.

Video presentation follows the Read more >> jump.merlin-rothfeld-ptr-380px
Merlin Rothfeld

Read more »


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Econintersect Analysis:

December 2014 Philly Fed Manufacturing Survey Declines Retracing Last Month's Spike, Index Remains Relatively Strong.

Written by

The Philly Fed Business Outlook Survey growth declined but remains well into expansion territory for the tenth month in a row. Key elements remain in expansion. 

Full story »


November 2014 Leading Economic Index Continues Its Strong Growth Pattern.

Written by

The Conference Board Leading Economic Index (LEI) for the U.S. improved 0.6% over last month. The index growth has been on a solid growth trend.

Full story »


Stratfor: The United States and Cuba Begin Restoring Relations

by STRATFOR

The United States and Cuba on Dec. 17 took their most assertive step in several decades toward normalizing relations. The most important announcements concerned the resumption of high-level political discussions focused on renewing formal diplomatic ties between the countries, which have been nonexistent since 1961. Cuban and U.S. officials will hold high-level meetings in the coming months, and the two countries will work toward establishing embassies in Havana and Washington. The United States will also immediately relax some sanctions on trade and travel to Cuba.

Full story »


The Mystery of Bottomless Reserves

Investing Daily Article of the Week

by Robert Rapier, Investing Daily

When I first went to work for ConocoPhillips (NYSE: COP), I worked on technology development. I had spent the previous seven years working in the chemical industry, and didn’t know all that much about the oil industry. My first job at ConocoPhillips was helping with a gas-to-liquids process in which we took natural gas and converted it into diesel, in a process very similar to that in Shell’s (NYSE: RDS-A) Pearl GTL plant in Qatar.

Full story »


Taper Tantrum Redux

Age of Wisdom, Age of Foolishness (54)

Written by , KeySignals.com


“No More Tantrums.”
“They’re creepy and they’re cookey.
The Statements are quite spooky.
Their policy is flukey.
Yel – lens F-O-M-C.”
(Age of Wisdom, Age of Foolishness (52) “Deathly Hallows”)

Following on, from the October FOMC meeting, the Fed smoothly eased into tightening mode. Janet Yellen formally confirmed that tightening mode has been entered, at the Bank of France conference in Paris a few weeks later; and also warned that this period would involve considerable volatility.

Full story »


November 2014 Sea Container Counts Continue to Show Rapid Contraction of Exports

Written by

Export container counts continue to weaken, which is a warning that the global economy is slowing. Export three month rolling averages continue to decelerate - being in negative territory year-over-year. This is a headwind for 4Q2014 GDP. Container counts are a good metric to gauge the economy.

Full story »


November 2014 CPI Annual Inflation Rate Falls 0.4% to 1.3%

by Doug Short and

The Consumer Price Index (CPI-U) year-over-year inflation rate which remained constant at 1.7% for the previous 3 months dropped to 1.3%. Energy prices decreased whilst food increased partially countering energy's decline. The year-over-year core inflation rate declined 0.1% to 1.7%, and remains under the targets set by the Federal Reserve.

Full story »


Always Remember: Balance of Payments Must Balance

My Reading of the FT on China’s “Turning Away from the Dollar”

by Michael Pettis, China Financial Markets

The Financial Times ran a very interesting article last week called “China: Turning away from the dollar”. It got a lot of attention, at least among China analysts, and I was asked several times by friends and clients for my response.

Full story »


Residential Building Sector Not Good in November 2014, Obvious Deceleration in the Averages.

Written by

Residential building permits were not good. Even construction completions outnumbered permits (showing that the future is darkening as there will be less homes to build). All data is decelerating.

Full story »


Stratfor: Viewing Russia From the Inside

by George Friedman

Last week I flew into Moscow, arriving at 4:30 p.m. on Dec. 8. It gets dark in Moscow around that time, and the sun doesn't rise until about 10 a.m. at this time of the year — the so-called Black Days versus White Nights. For anyone used to life closer to the equator, this is unsettling. It is the first sign that you are not only in a foreign country, which I am used to, but also in a foreign environment. Yet as we drove toward downtown Moscow, well over an hour away, the traffic, the road work, were all commonplace. Moscow has three airports, and we flew into the farthest one from downtown, Domodedovo — the primary international airport. There is endless renovation going on in Moscow, and while it holds up traffic, it indicates that prosperity continues, at least in the capital.

Full story »


Yes Virginia - - -

Age of Wisdom, Age of Foolishness (55)

Written by , KeySignals.com


“Yo-Ho-Ho!”

Coming out of G20 a couple of weeks ago, the message from policy makers was that Santa Claus still exists and will deliver record equity index closing prices for Christmas. Slightly less credible, were the stories that allegedly he will also deliver economic growth and low inflation. There were nearly 1000 growth requests on Santa’s G20 list this year, submitted by the wide eyed policy makers of the member nations[i]; which apparently add up to a $2 trillion global stimulus package[ii].

Full story »


Transformation: The Onrushing Digital Age will Change Everything

Written by

The modern era has witnessed two great periods of transformation that have radically changed the global economy and the very nature of human existence. The first was the Industrial Revolution, which started in England in the late 18th century and began to gain steam as industrialization spread to the United States and Germany and ultimately to the entire developed world.

Full story »


December 2014 Empire State Survey In Contraction for the First Time in Almost Two Years

Written by

The Empire State Manufacturing Survey fell significantly (14 points), and entered contraction for the first time in nearly two years. Key internals were also in contraction.

Full story »


November 2014 Industrial Production Strong - Above Expectations

Written by

The headlines say seasonally adjusted Industrial Production (IP) improved. Econintersect‘s analysis agrees  - and the unadjusted rolling averages are accelerating from positive backward revisions. 

Full story »


The Collapse of Oil Prices and Energy Security in Europe

by Ugo Bardi, Resource Crisis

Ladies and gentlemen, first of all, let me say that it is a pleasure and an honor to be addressing this distinguished audience today. I am here as a faculty member of the University of Florence and as a member of the Club of Rome, but let me state right away that what I will tell you are my own opinions, not necessarily those of the Club of Rome or of my university.

Full story »


Misunderstanding 'Liquidity Trap'

Fixing the Economists Article of the Week

by Philip Pilkington

I have long complained that the likes of Paul Krugman have grossly misinterpreted the meaning of the term ‘liquidity trap’. These economists seem to think that we are currently in a liquidity trap despite the fact that yields on bonds are extremely low across the board.

Full story »


The Imprecision of Volatility Indexes

by Rohini Grover and Ajay Shah, ajay shah blog

A remarkable feature of options trading is that it reveals a forward-looking measure of the market's view of future volatility. This was first done by CBOE in 1993 with the S&P 500 index options, with an information product named `VIX' which reveals the market's view of future volatility of the US stock market index.

Full story »


Macroeconomics Finally Gets Interesting

by John Mauldin, Thoughts from the Frontline

“The future is already here – it's just not very evenly distributed.” – William Gibson, Hall of Fame science fiction writer

Since I began writing this letter some 15 years ago, I’ve always done an annual forecast letter, generally in the first week of January. That letter is typically the most-read issue of the year, and I spend more time thinking about it than any other letter. I typically take the last week of the year off from writing just to concentrate on my research, and I often begin to compile my reading material the first week in December, which the calendar tells us is now. Helping me this year will be my associate Worth Wray and a few members of the Mauldin Economics team, and of course my many friends and readers.

Full story »


Is the November Headline Employment Gains Too Good to be True?

Written by

Last week I penned that the BLS Jobs Situation Was Strong in November 2014 for the Establishment Portion But the Household Portion Shows Almost No Jobs Growth. The establishment portion showed job gains of 321,000 whilst the household portion showed job gains of 4,000. One question is whether this real discrepancy throws some cold water on the general belief that jobs growth is becoming fairly strong in the USA. Some think any government release is manipulated.

Full story »


Preliminary December 2014 Michigan Consumer Sentiment Surges

by Doug Short, Advisor Perspectives/dshort.com

The Preliminary University of Michigan Consumer Sentiment for November came in at 93.8, a strong surge from last month. Today reading is a is a post-recession high and the highest level since January 2007, almost eight years ago. Today's sentiment level came in substantially above the Investing.com forecast of 89.7.

Full story »


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FOREX NEWS by DailyForex

SNB Move Sends Swiss Franc Lower

On Thursday, the Swiss National Bank warned investors that it intended to intervene in the FX markets with the introduction of a negative interest rate, specifically -0.25% on certain deposit accounts with high balances, in order to discourage investors from buying the safe haven Swiss Franc.

Consistent Fed Sparks Stock Rise

To anybody who has been following financial news for any length of time, the “news” that the US Federal Reserve intends to follow a patient approach to raising interest rates does not qualify as news at all.

S&P Surges; Asian Stock Rally

Asian shares rallied on Thursday after U.S. stocks enjoyed their strongest session this year as the Federal Reserve sounded upbeat on the economy and promised to be patient in removing policy stimulus.

USD Rally Resumes as Uncertainty Weighs

After a short recess from the Dollar’s prolonged rally, the greenback has swung back into positive territory, edging higher as investors await a policy statement from the Federal Reserve Bank.

Russia Increases Interest Rates

The Russian Rouble has been under pressure this year, falling from 32.61 against the Dollar in December 2013 to hit a record low of 79 yesterday before rallying somewhat to trade at 69.24 at the time of writing.


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Econintersect Investing:

Potential Cyclical Top Forming in Stock Market

by Erik McCurdy, Prometheus Market Insight

Fueled by a historic amount of direct stimulus from the Federal Reserve, the cyclical bull market in stocks that began in 2009 accelerated into an unsustainable advance, creating a massive equity bubble and causing investment risk to increase to one of the three highest readings during the past 85 years.

Read more »


Will There be Support for Oil Around $55?

by EconMatters, EconMatters.com

Bearish Sentiment Priced In?

The futures contract for January 2015 has gone from $102 a barrel in July to $57 a barrel today, a $45 dollar a barrel discounting of price in less than six months. Much of this move is based upon bearish sentiment and future expectations for oil supplies along with bearish headlines coming out of OPEC Members and the exiting of the long side of the market (Players stepping away) and a huge short trade pushing prices lower. But the question is has too much bearish sentiment been priced in too fast? Well let's look at some EIA Inventory Data for trying to put some actual data footholds if you will on the subject.

Read more »


S&P 500: Short-term Outlook 16 December 2014

by Erik McCurdy, Prometheus Market Insight

Technical Analysis

The index closed moderately lower yesterday (Tuesday 16 December 2014), retreating further from recent highs of the cyclical bull market from 2009 and moving below congestion support in the 1,980 area. Technical indicators are extremely bearish overall, strongly favoring a continuation of the decline from last week.

bear-snarl

Read more »


Investing.com Technical Summary 16 December 2014

Investing.com Technical Analysis (as of Tue, 16 December 2014 05:00pm EDT)

by Investing.com Staff, Investing.com

Below, technical overviews and analysis for key stock indices, commodities and investing.com-logocurrency pairs, based on market activity at the close of the 16 December 2014 U.S. session. This information is a comprehensive summary derived from simple and exponential moving averages along with key technical indicators shown for specific time intervals.

Read more »


Stock Traders Herded Like Sheep

by Chris Ebert, Zentrader

The Future is Not Predictable

The job of a stock market trader may seem simple; learn how to predict when stock prices will go up or down, and then buy at low prices and sell at high prices. Alternatively, since stock prices have tended to rise in the long run, despite temporary declines, buying stocks and holding them for several years - investing - may seem like an almost-guaranteed method of ensuring that the selling will occur at a higher price, without the need to make the predictions involved in short-term trading.

Read more »


Nowhere to Go but Up

X-factor Report 14 December 2014

by Lance Roberts, StreetTalk Live

Every major analyst has predicted that the S&P 500 will continue its meteoric rise into 2015. The table below shows the current 2015 end of year predictions:

  • Bank of America Merrill Lynch's Savita Subramanian: 2,200
  • Credit Suisse's Andrew Garthwaite: 2,100
  • Goldman Sachs' David Kostin: 2,100
  • Barclays' Jonathan Glionna: 2,100
  • Deutsche Bank's David Bianco: 2,150
  • Citi's Tobias Levkovich: 2,200
  • UBS's Julian Emanuel: 2,225
  • Oppenheimer's John Stoltzfus: 2,311
  • Average of Estimates: 2173.25

Read more »


Insider Trading 12 December 2014: As Dow Had Big Weekly Loss, Insider Buying More than Quadrupled

by Asif Suria

In a week where we saw the Dow post its biggest weekly decline since 2011, insider buying more than quadrupled with insiders buying $190.94 million of stock compared to $44.02 million in the week prior. Part of this buying was driven by insiders from the energy sector as we saw in our previous report and the other part was driven by certain value-oriented and biotech funds adding to their positions. Selling declined with insiders selling $1.34 billion of stock last week compared to $1.47 billion in the week prior.

Read more »


The Week Ahead: Oil Collapse Continues; Will the Fed React?

by Jeff Miller, A Dash of Insight

Sometimes a dominant story continues from one week to the next. Crashing energy prices and continued selling of any related stock seems to have spilled over into the rest of the market. There will also be a Fed meeting with new projections and a press conference.

Will crashing energy prices change the Fed's course?

Click for complete image at Hedgeye.com.
oil-collapse-380x190

Read more »


Trefis: Highlights Week Ending 12 December 2014

Written by

Below is a summary of the activity at Trefis during the past week that Trefis thought Econintersect readers would find interesting.

Trefis is a financial community structured around trends, forecasts and insights related to some of the most popular stocks in the US. It provides the unique feature of allowing the user to model future valuation based upon projected changes in components of each business. It also provides communication capabilities among members, including consensus of member analysis compared to Trefis staff analysis and blogging opportunities for members.

Click on graphic for larger image and go to Trefis interactive page.

Click "Read more..." to see our clickable table of contents with the most covered companies (more than 1 article) of the week identified.

Read more »


Is China on the Verge of Devaluing the Yuan?

by Michael Clark

I have been speculating that CHINA will join the currency war AGAIN, and in an even bigger way, the currency war that JAPAN is currently leading and threatening to win in a walk unless CHINA gets serious about 'getting competitive'

Read more »





Precious Metals Corner:

Short-term Outlook for Gold 16 December 2014

by Erik McCurdy, Prometheus Market Insight

Technical Analysis

Gold closed near unchanged yesterday (16 December 2014), holding near support at the lower boundary of the uptrend from November. Technical indicators are effectively neutral overall, suggesting that direction is in question.

gold-coinsand-little-bars

Read more »





Live Market Commentary:

Market Commentary: DOW Up 267, Averages Trading Sideways

Written by

Midday Market Commentary For 12-18-2014

This rally that started out strong has not gone far, up or down. Volume has waned, even fallen to extremely low, but the trading continues to be sideways.

By noon, the averages were enjoying a plus 1.6% ride in the green with a fractional trend higher, but not topping the morning highs - yet.


Read more »








Video of the Day:

The Twitter bot account, (at sign) congressedits, tracks attempts at Wikipedia edits made from inside the US Senate, and it caught Senate staffers trying to edit out the word "torture" from the page for the Senate's recently released torture report.

video of day picture







Forex Trader:

Investing.com Technical Summary 16 December 2014

Investing.com Technical Analysis (as of Tue, 16 December 2014 05:00pm EDT)

by Investing.com Staff, Investing.com

Below, technical overviews and analysis for key stock indices, commodities and investing.com-logocurrency pairs, based on market activity at the close of the 16 December 2014 U.S. session. This information is a comprehensive summary derived from simple and exponential moving averages along with key technical indicators shown for specific time intervals.

Follow up:









Econintersect Opinion:

Orion: to Boldly Go, so Long as the Wind Blows Fair and the Weather Holds

by Monica Grady, The Conversation

Generations of mariners have spent time anxiously watching the weather, waiting for the right conditions. It seems that despite all the high-tech advances we’ve made, spacecraft are still subject to the vagaries of the weather.

Read more »


Religions

Written by

After discussing Civilizations and Human Races, let's focus on religions, political correctness notwithstanding.

Note: all my articles under the framework of WMDs, Germs, and Economies are for two main purposes:

1) Predicting the future, 25 years ahead.

2) My next book "China vs. America".

Read more »


J.D. Alt: Golden Age Just Around the Corner

by Dirk Ehnts, Econoblog101

J.D. Alt has published a very nice text recently that sums up the problem of popular delusions regarding money. This is a three page version of what could be a 200 pages book, namely the argument that the (US) government does not face a budget constraint and hence neither privatization nor austerity policies make sense.

Read more »


To Cut Carbon Emissions and Keep the Lights on, it has Got to be Nuclear Power

by Malcolm Grimston, The Conversation

An experiment in liberalising power markets has been underway in the UK since the 1980s and three phases can be identified. The first ran from around 1989 to 1999, beginning with the privatisation of the generating industry and grid and ending by giving customers the freedom to shop around for their supplier.

Read more »


The Answer to the Unemployment Problem Is More Jobs

by L. Randall Wray, New Economic Perspectives

Dean Baker, everyone's favorite progressive economist (mine, too), has an interesting take on our unemployment problem.

Give more paid vacations.

The idea is that if all the employed work less, employers will need to hire the unemployed to produce what the already employed won't be producing while sunning themselves on Florida's beaches.

Read more »


Even Climate Change Experts and Activists Might Be in Denial

by Steffen Böhm, University of Essex and Aanka Batta, The Conversation

Another month, another important UN climate change conference. The latest is in Lima, the capital of Peru. Thousands of experts from the world of politics, business, academia and civil society – and Leonardo DiCaprio – have flown around the world to urge us all to curb our carbon emissions.

Read more »


Beyond GDP: Are There Better Ways to Measure Well-Being?

by Ida Kubiszewski, The Conversation

“At present, we are stealing the future, selling it in the present, and calling it GDP.” — Paul Hawken

Imagine if a corporation used Gross Domestic Product (GDP) accounting to do its books: it would be adding all its income and expenses together to get a final number. Nobody would think that’s a very good indication of how well that business was doing.

Read more »


Congress Declares War on Russia

by Franklin (Chuck) Spinney, The Blaster

The United States is careening toward an unnecessary new cold war with Russia. Cold War II may be even more dangerous than the first Cold War, because the constitutional checks and balances and the attention span of the people regulating the US government's behaviour have broken down. While Ukraine is now at the center of this madness, the neocon-driven march to folly has roots reaching well beyond the Ukraine.

Read more »


To Make Sense of Modern China, You Simply Can't Ignore Marxism

by Roland Boer, The Conversation

How does one come to understand China? Many wish to do so, especially in light of China’s growing global influence.

For some, language is the key that opens the door. With Chinese language, one is able to enter a people and their culture, opening up communication, literature, philosophy, belief and much more. Engaging and studying in translation always presents a barrier to understanding, but language is not enough.

Read more »


Hans-Werner Sinn’s Selective Reading of US Economic History

by Dirk Ehnts, Econoblog101

At the end of October, Hans-Werner Sinn published an article on the question of how to set up a monetary system.  Sinn is Professor of Economics and Public Finance at the University of Munich, is President of the Ifo Institute for Economic Research and serves on the German economy ministry's Advisory Council.

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