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Bailed Out
Monthly Archives: January 2013
Peter Schiff Doubles Down on Inflation Prediction
“Schiff looked at Bureau of Labor Statistics price changes for 20 goods and services between 1970 to 1980 and again between 2002 and 2012, decades that Schiff says were both periods of large deficits and loose monetary policy. Schiff found that his basket of goods increased 61% faster than CPI for the period between 2002 and 2012. In contrast, his basket rose just 5% faster than CPI from 1970 to 1980. ‘How can you believe these statistics when the numbers are so flawed?’ Schiff asks in response to his research on CPI.”
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Obama mocks Lew’s loopy signature: Don’t devalue the dollar with illegible writing
“President Barack Obama jokingly joined in criticism of Jack Lew’s signature on Thursday, urging his Treasury nominee to change it before it appears on the greenback and risks devaluing the dollar. Lew’s doodle-like eight-loop signature — a cute but utterly undecipherable scrawl described as an ‘unraveled slinky’ by one graphologist — has quickly drawn more media buzz than the budget guru’s politics.”
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How The Swiss National Bank Went “All In”, Three Times And Counting
“The nation’s central bank is printing and selling as many Swiss francs as needed to keep its currency from climbing against the euro, wagering an amount approaching Switzerland’s total national output, and, in the process, turning from button-down conservative to the globe’s biggest risk-taker. Switzerland’s virtue is the root of its problem: broad confidence in the Swiss currency and economy has investors hungry for francs to escape euros, the currency of its shaky European neighbors.”
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Sterling crisis looms as UK current account deficit balloons
“Some of the reasons for this need little explanation. Low growth has undermined attempts to reduce the fiscal deficit, which remains one of the highest in the OECD. This in turn is likely to lead to the loss of Britain’s prized triple A credit rating this year, making the UK comparatively less attractive to overseas investors. What’s more, capital flows from the eurozone to perceived ‘safe havens’ such as the UK are slowing as the crisis eases. There is also evidence of elevated concern among investors about Bank of England money printing.”
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Britain should stay in European Union, says Obama administration
“The Obama administration issued a direct challenge to David Cameron over Europe, on Wednesday when it warned of the dangers of holding a referendum on Britain’s membership of the EU. A senior US official questioned the merits of holding a referendum as the prime minister’s campaign to reset the terms of Britain’s EU membership also came under assault from Brussels and Dublin. With just weeks to go until Cameron delivers a landmark speech in which he is expected to promise to hold a referendum on a ‘new settlement’ for Britain in the EU, the US assistant secretary for European affairs warned that ‘referendums have often turned countries inwards’.”
http://www.guardian.co.uk/world/2013/jan/09/us-warns-uk-european-union
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Critics object to Obama nominating ‘Mr. Drone’ John Brennan to CIA head
“The nomination of President Barack Obama’s top counter-terrorism advisor John Brennan to head the CIA has sparked outrage and concern about America’s growing drones programme and its use for targeted killings of suspected Islamic militants. Brennan has been a key architect of drones policy under Obama and many experts believe that the use of the unmanned robot planes in countries such as Afghanistan, Pakistan, Yemen and Somalia is likely to increase if he becomes America’s top spy.”
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In a Tough Job Market, Who’s Employed and Who’s Not
“WSJ has assembled the data from Bureau of Labor Statistics. Below are the occupations that had the lowest unemployment rates in 2012 and the highest.”
http://www.economicpolicyjournal.com/2013/01/in-tough-job-market-whos-employed-and.html
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Colleges Lose Pricing Power
“Facing stagnant family income, shaky job prospects for graduates and a smaller pool of high-school graduates, more schools are reining in tuition increases and giving out larger scholarships to attract students. Moody’s also attributed the enrollment decline at some public universities to a ‘heightened scrutiny of the value of higher education’ after years of tuition increases and stagnating family income. The credit-rating firm said in its report that more students are ‘increasingly attending more affordable community colleges, studying part time, or electing to enter the workforce without the benefit of a college education.'”
http://online.wsj.com/article/SB10001424127887324442304578231922159602676.html
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America’s PhDs on Food Stamps
http://www.onlinecolleges.net/2013/01/08/americas-phds-on-food-stamps/
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