US Military Aid: Israel Gets More than Everyone Else Combined


from Felix Richter,
by Niall McCarthy

Every year, the US Department of State hands out nearly $6 billion of military aid to countries around the world.


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What We Read Today 22 May 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".).


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

Why Our Ancestors were More Gender Equal than Us

by Andrea Migliano and Lucio Vinicius, The Conversation

It is often believed that hierarchical and sometimes oppressive social structures like the patriarchy are somehow natural - a reflection of the law of the jungle. But the social structure of today"s hunter gatherers suggests that our ancestors were in fact highly egalitarian, even when it came to gender. Their secret? Not living with many relatives.


Infographic Of The Day: Vehicle Modification For Fuel Efficiency

Want to save more money?

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Video of the Day:

It's bedtime on the ISS. CSA Astronaut Chris Hadfield shows us how astronauts sleep in space.

video of day picture

FOREX NEWS by DailyForex

No Surprises expected by Fed’s Yellen

Changes are not expected in the Fed’s plan to raise interest rates in the very near future. Fed Chair Janet Yellen will point to some progress in raising employment and lowering inflation when she meets today to discuss the economy’s progress.

Dollar Eases Back After FOMC

The Euro managed to recover some losses made in the wake of the Federal Reserve’s policy release yesterday which tended to support the greenback given that there were no Fed surprises.

Japanese Economy Expands In Q1

The Japanese economy is the third largest in the world, behind the USA and China. Roughly 60% of Japan’s economic output is consumed by the domestic market with 40% of output exported to the rest of the world.

Weak China Factory Output Number Dampen Growth Hopes

The latest report out of China, its Flash China Manufacturing Output Index, pointed to a drop in factory activity for the third straight month in May, down to 48.4 from an April high of 50.0 and hitting a 13-month low.

Dollar Recovers Broadly as Correction Falters

After several days when the pressure was high against it, the US Dollar touched a 3-week peak versus the common currency Euro and 2-month high against the Japanese Yen.
 more investing, markets, precious metals & forex Weekly Wrap-Up 22 May 2015

 more opinion

Greece Remains Defiant as It Seeks Creditor Deal This Week

by Rodger Malcolm Mitchell,

Greece"s government said it won"t back down on election pledges to end austerity.

Nikos Filis, spokesman for the parliamentary group of Prime Minister Alexis Tsipras"s Syriza party said:

"Our mandate from the Greek people is to reach an agreement where we stay in the euro area without harsh austerity measures."


U.S. stocks retreat from record territory, as Fed hints of "15 rate hike

by Staff,

U.S. stocks fell slightly on Friday ending the week on a sour note, after Janet Yellen hinted that the Federal Reserve could raise interest rates at some point this year if the economy continues to show improvement.

The Dow Jones Industrial Average and the S&P 500 Composite index finished lower on the session after setting all-time closing records earlier in the week, while theNASDAQ Composite also closed down after spending most of the session in record territory. Bolstered by gains in the transportation and technology sectors, the NASDAQ appeared on pace to eclipse an all-time closing record from April 24, when it ended the session at 5,092.08. Instead, it closed at 5,089.36, down 1.43 or 0.03% following a late sell-off.


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

15 May 2015: ECRI's WLI Into Positive Territory for the Third Week in a Row

ECRI"s WLI Growth Index which had spent 28 weeks in negative territory - is now in its third week in positive territory. It is now forecasting better growth later this year. ECRI also released its coincident indicator this week and is reported below.

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