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.
Japan’s Recession Deepens as Election Looms for Abe (Keiko Ujikane and Toru Fu, Bloomberg Businessweek) The Japanese recession was deeper in 3Q 2014 than indicated by the initial estimate. The latest reading is an anualized decline of 1.9% compared to the previous estimate of 1.6% and much below economists' estimate of only 0.5%. Analysts are projecting that the recovery will be weak as consumers are still reeling from the ill-conceived 60% hike in the consumption tax that took effect the first day of the second quarter.
California Drought Of 2012-2014 Is The Worst In 1,200 Years: Study (Kukil Bora, International Business Times) Daniel Griffin, an assistant professor in the Department of Geography, Environment and Society at the University of Minnesota, and Kevin Anchukaitis, an assistant scientist at Woods Hole Oceanographic Institution used old blue oak tree-ring samples in southern and central California and climate data provided by the National Oceanic and Atmospheric Administration (NOAA) to determine that California's three-year drought was the worst in more than a millennium. See also Evidence Suggests California's Drought is the Worst in 1,200 Years (Woods Hole Oceanographic Institute). Another research study has found that for other parts of the U.S. one of the years of the dust bowl had the worst drought in a millenium. See NASA Study Finds 1934 Had Worst Drought of Last Thousand Years (NASA News). The 1934 drought, which affected 71.6% of the western U.S., was 30% more severe than the second worst drought in the last 1,000 years, the drought of 1580. For comparison to 1934, the recent 2012 extreme drought in the central U.S. had "an average extent" 59.7%.
Articles about events, conflicts and disease around the world
Federal autopsy released in Ferguson shooting (Associated Press, Fox News)
British Ebola survivor calls Band Aid 30 “cringeworthy” (BBC Newsbeat)
"Turk Stream": Huge Win for Turkey - Big Win For Russia - Historic Loss for EU (Russia Insider) Hat tip to Rob Carter.
Turkish soldiers killed on Syria border (Al Jazeera)
Syria, allies condemn Israeli airstrikes (Associated Press, Yahoo! News)
ISIL and Iran to dominate Gulf Arab summit (Al Jazeera)
U.S. Accuses Iran of Secretly Breaching U.N. Nuclear Sanctions (Foreign Policy) Washington has evidence that Tehran is trying to buy new equipment for a key nuclear facility. But the White House isn't willing to say anything publicly about it.
Ukraine's Made-in-USA Finance Minister (Global Research) Hat tip to Rob Carter. She appears to be corrupt to the core – good fit for Ukraine’s tradition.
Russian Inspectors to Conduct Observation Flight Over US (sputniknews.com)
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