Tag Archives: Bullshit

Argentina to receive $1 bln loan from Goldman Sachs, says newspaper

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“Argentina is closing in on a deal to receive around $1 billion in loans from investment bank Goldman Sachs and is in talks with other international banks about similar deals, local newspaper Pagina/12 reported on Sunday.  The paper, which has close ties with the government of President Cristina Fernandez, said the two-year loan would be announced in the next few days and carry an annual interest rate of 6.5 percent.  It would be the first time in more than a decade the country has received a substantial loan from international creditors and comes as the government seeks cash to avoid a further devaluation of the peso.  The Economy Ministry did not provide immediate comment on the report.”

http://www.reuters.com/article/2014/03/30/argentina-debt-goldman-idUSL1N0MR09W20140330

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The global wine drought that never was

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“Recently the world’s media reported the alarming news that demand for wine has outstripped supply. Latest figures indicated a shortfall of 300 million cases in 2012, it was claimed… the world was facing the serious prospect of a wine shortage.  Scary graphs were published showing production dropping while consumption increased. But is it true?  All these news reports were based on a single piece of research carried out by the Australian research division of the investment bank, Morgan Stanley.  This made Reuters finance blogger, Felix Salmon, suspicious – especially when he realised the report was promoting an Australian wine company as a top stock pick to buy.”

http://www.bbc.co.uk/news/magazine-25401029

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Open the Window and Let Out Tedious Tapering

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“The exercise of power is often a ludicrously simple thing. And Federal Reserve deliberations often partake of such simplicity.  The tapering debate is yet one more example. It is symptomatic of a dialectic that everyone can understand and participate in. We are meant to examine two choices, and two choices only: Either the Fed tightens or it doesn’t. Either of these choices acknowledges the primacy of the Fed and its central importance. The Fed is NOT intrinsically important. Absent the force of the state, there is no way that a tiny group of mis-educated people would be able to gather in a well-appointed room to fix the value and volume of money for hundreds of millions.”

http://www.thedailybell.com/news-analysis/34767/Open-the-Window-and-Let-Out-Tedious-Tapering/

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Sudan devalues currency by 30 percent amid dollar shortages

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“Sudan’s economy has been in turmoil since South Sudan’s secession in 2011 took away of three-quarters of oil production. Oil was the driver of the economy and source for dollars needed for food and other essential imports.  The central bank has been trying to bridge a ballooning gap with the black market rate where one dollar costs 7.8 pounds as import firms struggle to get their hand on hard currency. The black market rate has become the benchmark for banks and firms.  The secretive central bank tends not to announce devaluations, which are embarrassing for the government, which denies there is a shortage of hard currency.”

http://finance.yahoo.com/news/sudan-devalues-currency-30-percent-150224884.html

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The Gender Wage Gap Lie

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“How many times have you heard that ‘women are paid 77 cents on the dollar for doing the same work as men’? Barack Obama said it during his last campaign. Women’s groups say it every April 9, which is Equal Pay Day. In preparation for Labor Day, a group protesting outside Macy’s this week repeated it, too, holding up signs and sending out press releases saying ‘women make $.77 to every dollar men make on the job.’ I’ve heard the line enough times that I feel the need to set the record straight: It’s not true.  The point here is not that there is no wage inequality. But by focusing our outrage into a tidy, misleading statistic we’ve missed the actual challenges.”

http://www.slate.com/articles/double_x/doublex/2013/08/gender_pay_gap_the_familiar_line_that_women_make_77_cents_to_every_man_s.html

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AZ Court Says You Don’t Have to Be High to Get a DUI

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“An Arizona appeals court has ruled that marijuana users don’t need to be actually impaired to be successfully prosecuted for driving under the influence. The ruling came Tuesday in the case of a man who tested positive for an inactive marijuana metabolite that remains in the body for weeks after the high from smoking marijuana has worn off.  The ruling in Arizona v. Shilgevorkyan overturned a decision by a superior court judge who said that it didn’t make sense to prosecute people for driving under the influence if they’re not actually under the influence.”

http://stopthedrugwar.org/chronicle/2013/feb/14/az_court_says_you_dont_have_be_h

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Is Paul Krugman A Coward?

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“Paul Krugman, noted Keynesian, has been challenged to a public debate by Robert Murphy of the free-market Austrian School of economics. Right now nearly $75,000 will go to charity if Krugman agrees. The pledge number is rising. Keep the pressure on: http://www.KrugmanDebate.com”

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