Special Report from ProPublica
by Joaquin Sapien, www.propublica.org
When 17-year-old Lexie Gruber first entered the Allison Gill Lodge group home for girls in Manchester, Connecticut, she said it felt less like a home than a business. Instead of family photos, the walls were covered in informational posters and licensing certificates. When her emotions got the better of her, she said, the only conversations she had were with a doctor with a prescription pad at the ready.
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.
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by EconMatters, EconMatters.com
I looked over the weekly Petroleum Inventory Report put out by the EIA today, and the biggest takeaway by far was that U.S. oil production set a new modern era high at 9.566 Million Barrels per day.
Infographic Of The Day: 10 Reasons To Sell In China Through Alibaba And Tmall
Did you know that Jack Ma founded Alibaba with 18 other people in 1999. Mr. Ma was an English teacher prior to forming Alibaba.
FOREX NEWS by DailyForex
Friday marked the final trading session in May and saw all of the major markets fall with the one exception of the Nikkei.
As had been largely expected, the Greek government was unable to meet a deadline for an agreement with lenders to release additional aid. Without that funding, it is highly unlikely that Greece will be able to make its next IMF payment which comes due on June 5th.
Greece is no closer to reaching a deal with its creditors with each side pointing to the other as the reason for the failure.
There is quite a lot of data coming out this week, which should be dominated by USD news (in particular, Friday’s NFP report) and also to a lesser extent statements by the central banks of the Eurozone, the U.K., and Australia. However it seems very unlikely there will be any surprises from the central banks so all eyes will be on the USD data.
Data released on Friday showed that the U.S. economy contracted in the first quarter of the year but despite the drop on Wall Street, indexes still posted gains for the month.
by Lee Adler, Wall Street Examiner
First, let's get the headline number out of the way. The media reported last week that the inflation rate in April was +0.1% on a seasonally adjusted (SA) month to month basis. On a not seasonally adjusted, actual basis the change was +0.2%. The BLS said that the year to year change in top line CPI was a decline of -0.2%.
by Jeff Miller, A Dash of Insight
This week's economic calendar is loaded with important data, featuring the employment situation report on Friday. The jobs story has been the most encouraging economic theme, with a recent assist from housing.
Especially in the context of the negative Q1 GDP report, next week's theme will be:
Will strong employment gains signal a second half economic rebound?
01Jun2015 Market Update: Averages Sea Saw Into The Green From Morning Lows, U.S Bonds Take A Beating
01Jun2015 Pre-Market Commentary: U.S. Financial Reports Poor, U.S. Dollar Retracts, U.S. Futures Tra
Econintersect: Average gasoline prices rose 0.6 cents per gallon nationwide this past week following the previous week's 3.0 cent rise.