War On Cash 2 Show Me The Money!


by Reverse Engineer, Doomstead Diner

Published on the Doomstead Diner on 11 February 2016

Discuss this Rant at the Economics Table inside the Diner.

...Besides the major problem of WTF you do when the lights go out and/or the 4G network goes out on your cell phone are all those little transactions done each day, like for instance your kid buying a Hershey bar at the convenience store on the bike ride to school. Is every kid going to have her own plastic and cell phone to do these transactions also? Are you going to use plastic to buy some breathmints or condoms on the way to the local cathouse? Are you going to pay the hooker with plastic so your wife can see the charge on the bill? That's an even bigger problem for the Banksters and Politicians who are promoting this idea than the average J6P too.

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What We Read Today 13 February 2016

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.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


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 more features, analysis, studies, and news published in the last week

Social Media Is Changing The Face Of Politics And It's Not Good News

from The Conversation

-- this post authored by Angela Phillips, Goldsmiths, University of London

Most people across the developed world still get most of their news via television - and traditional news brands, produced by journalists, still top the rankings for the most read news on the internet. But a growing number of people have stopped turning on the TV, buying a paper or even visiting a news website.

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Infographic Of The Day: 'Planet Nine' Type Worlds Are The Most Common

On Jan. 20, 2016, scientists announced the discovery of what could be a giant planet in the Kuiper Belt at the outer edge of our solar system.

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Video of the Day:

After 100 years of searching, an international team of physicists has confirmed the existence of Einstein's gravitational waves at LIGO on September 14 last year, marking one of the biggest astrophysical discoveries. It's a huge deal, just think of all the breakthroughs that have come to the discovery of x-rays and radio waves it also opens up a whole new way of studying study the Universe.

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Which Is The Cart And Which Is The Horse?

 more opinion

Why The Federal Reserve Always 'Happens' To Be Wrong

by Money Metals Exchange

-- this post authored by Stefan Gleason

'The last duty of a central banker is to tell the public the truth.'

- Alan Blinder, former Federal Reserve Board Vice Chairman

The Federal Reserve Board finds itself back in a quandary of its own making. When Fed chair Janet Yellen pushed through an interest rate hike this past December, she confidently cited an 'economy performing well and expected to continue to do so.'

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 USA economy at a glance (boxed items are updates in last 7 days)

First Quarter 2016 Survey of Professional Forecasters Again Lower Growth over the Next Three Years

from the Philadelphia Fed

The economy looks weaker now than it did three months ago, according to 40 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The forecasters predict real GDP will grow at an annual rate of 2.0 percent this quarter and 2.5 percent next quarter.

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