econintersect .com

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

What We Read Today 22 December 2014

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.

BoJ strikes more upbeat view, no fresh measures (AFP, Taipei Times)  Exports "show signs of picking up" and "factory output has started to bottom out".  That is the upbeat view referred to in the headline.  The Bank of Japan (BoJ) voted to "hold off on fresh easing measures".  That means they will continue the current QE (quantitative easing) to pump money into the banking system at the rate of ¥80 trillion (US$670 billion) a year.  Prorated to the size of the Japanese economy, this is the equivalent of $2.3 trillion for the U.S.  The Fed QE3 program, now ended, was at the rate of $1 trillion per year.

Tonight will be the longest night in Earth's history (Joseph Stromberg, Vox, MSN NewsCorrection: Tonight will not be the longest night in the history of Earth. It was in 1972. (Joseph Stromberg, Vox)  The first link may also get corrected by the time you get to it.  The reason for nights (and days) getting longer is the slowing of the earth's rotation.  It's not by a lot:  15 to 25 seconds are added to the nominal 24 hour day every million years, produced by gravitaional effects between earth and the moon.

The reason for the correction is that climate changes on earth can produce affects in a variable pattern that influence the rotation and over the last 42 years the rotation has actually increased in speed slightly.  The long-term effects have changed the rotation time from 6 to 24 hours in the 4.5 billion years since the moon was formed.  The changes in rotation are slowing over time and billions of years in the future the rotation of the earth will slow to the point that it will match the earth orbit speed of the moon and the moon will always be in the same position with respect to any point on the earth's surface - and one half of the earth will never see any portion of the moon again.

Existing Home Sales: A Likely "Miss"  (Calculated Risk)  Bill McBride quotes an estimate from Tom Lawler predicting an annual rate of 4.90 million existing home sales for November compared to the consensus expectation of 5.20 million.  In October NAR (National Association of Realtors) reported 5.26 million homes sales (annualized rate).  Analysis of September and October pending home sales at GEI Analysis suggested that November existing homes sales might be better than October.  We won't have long to wait to find out which (increase or decline) is the case; existing home sales are announced today.

Articles about events, conflicts and disease around the world

Ferguson and Related News









Do not miss "Other Economics and Business Items of Note", the final section every day.

Please support all that we do at Global Economic Intersection with a subscription to our premium content "behind the wall".

There are between 75 and 100 articles reviewed most weeks. That is in addition to the 140-160 articles of free content we provide.

You get a full year for only $25.

The rest of the post is for our premium content subscribers - Click here to continue reading. If you have forgotten your login or password - send an email to info at

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

Econintersect Behind the Wall

Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

 navigate econintersect .com


Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved