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July 2015 Inflation Adjusted Personal Income Strong Improvement

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Written by Steven Hansen

The data this month showed relatively strong income growth - spending grew but grew slower.

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 more WWRT

What We Read Today 27 August 2015

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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Every day most of this column ("What We Read Today") is available only to GEI members.

To become a GEI Member simply subscribe to our FREE daily newsletter.

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

Entry And Exit Leads To Zero Profit For Bitcoin Miners

by Liberty Street Economics

-- this post authored by Rod Garratt and Rosa Hayes

In a previous post, we discussed bitcoin miners' incentives to undertake a 51 percent attack given the current condition of the bitcoin market. We also speculated that high profits and free entry would cause more miners to enter the market, driving marginal mining profits to zero in the long run. Since then, the price of a bitcoin has declined over 40 percent and both the hash rate and the difficulty level of the bitcoin mining problem, which adjusts automatically to changes in the hash rate, appear to have leveled off. Our most recent calculations suggest the long run may have arrived.

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Infographic Of The Day: Arts And Its Economic Contribution

Most do not consider the economic contribution of arts and cultural production.

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Video of the Day:

Caution! This video shows a woman being swarmed by a pack of snarling wolves. Anita had not been in Polar Zoo in about 2 months. When she returned i had the chance to film her first meeting in a long time with the wolves she spent a long time socializing from 16th of May 2008. The video is recorded in Polar Zoo.


video of day picture





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 more investing, markets, precious metals & forex

28Aug2015 Pre-Market Commentary: Stock Future Indexes Sliding Off Yesterday's Closing Numbers, Oil Off Highs, Friday's Markets Set To End Roller Coaster Week With A Whimper



 more opinion

Economics Is Dead, and It Is Being Killed Again

by Per Bylund

Appeared originally at mises.org 22 August 2015

Economics is dead, and economists killed it.

What we have seen over the course of the last eighty years is a systematic dismantling of the contribution of economics to our understanding of the social world.

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

Rail Week Ending 22 August 2015: Some Improvement But Continued Deterioration Of Year-over-Year Rolling Averages

Econintersect: Week 33 of 2015 shows same week total rail traffic (from same week one year ago) marginally expanded according to the Association of American Railroads (AAR) traffic data. Intermodal traffic expanded year-over-year, which accounts for approximately half of movements. but weekly railcar counts continued in contraction.

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