For at least 2000 years philosophers believed that the spherical Earth must have a large unknown continent at the bottom of the globe.
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.
- Myth of arctic meltdown: Stunning satellite images show summer ice cap is thicker and covers 1.7million square kilometres MORE than 2 years ago...despite Al Gore's prediction it would be ICE-FREE by now (David Rose, Daily Mail) Sig Silber will cover this in some detail in his weekly weather and climate article tonight. We can hardly wait for someone to declare the advent of a new ice age!
September 1st, 2014
by Peter Nielsen, Central Bank News
Speculation over further monetary easing by the European Central Bank (ECB) dominated global monetary policy last week as financial markets continued to digest the implication of Mario Draghi's speech in Jackson Hole.
Econintersect: The official PMI (Purchasing Managers' Index) reported a reading ot 51.1 in August 2014, down from 51.7 in July. The result was slightly less than the expected value of 51.2. The second PMI report was just barely above the 50 reading which marks the boundary between expansion and contaction. The HSBC/Markit survey reported a final reading of 50.2, a sharp decline from July when it also came in at 51.7.