Infographic of the Day: Study Abroad, Step 1: The Best Colleges, Programs, and States for Studying Abroad
Where to go to school if you want to go abroad. Find out which states, universities, and programs are the best for studying abroad.
by Matthew Higgins and Thomas Klitgaard - Liberty Street Economics, Federal Reserve Bank of New York
Current account deficits in euro area periphery countries have now largely disappeared. This represents a substantial adjustment. Only two years ago, deficits stood at nearly 10 percent of GDP in Greece and Portugal and 5 percent in Spain and Italy (see chart below). This sharp narrowing means that spending has been brought in line with income, largely righting an imbalance that had left these countries dependent on heavy foreign borrowing.
Japan maintains QE targets, says economy picking up
by Peter Nielsen, Central Bank News
The Bank of Japan (BOJ) maintained its aim of expanding the monetary base by an annual 60-70 trillion yen, along with purchases of Japanese government bonds and other securities, and voiced confidence that the economy was now picking up speed and consumer prices would start to rise.
The BOJ, which launched its "new phase of monetary easing" in early April, said it would continue with its plan to buy government bonds so their outstanding amount rises by 50 trillion yen a year and the average remaining maturity of these purchases will be about seven years.
Econintersect: Blogger, investment analyst and Washington Post columnist Barry Ritholtz has posted a piece at his blog The Big Picture. The title: "NY/NJ/CT Congressional Delegation Should Demand Apology from Oklahoma Senators Inhofe and Coburn". Both Inhofe and Colburn were among 31 senators who voted against the relief effort for Hurricane Sandy. Now both are backing emergency aid for their own state. Inhoffe told MSNBC that the tornado recovery funding will be a "totally different" situation from Sandy. (See The Washington Post.)
Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list discusses the production (mining) cost of silver ........ and the last article is about Sheila Barr's claim that Dodd-Frank ends taxpayer bailouts.