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Infographic of the Day: How Plate Tectonics Helped Carve Tibetan Gorges

Between 2 million and 2.5 million years ago, uplift of crustal plates in southern Tibet caused a river to begin depositing sediments, resulting in a steep canyon.

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Crash, Boom, Pop! Kickstarter Campaign in Final Days' Push

Econintersect:  Less than two weeks ago our article on the new project which has the objective of making the introduction to economics as easy as reading a comic book but as meaningful as the focus on observation and measurement of systems can make it.  At that time the amount pledged was approximately $7,800 of the $35,000 goal.  In the next few days after that the pledges nearly doubled and, as this is written, have increased further to more than $19,000.  The final push is on to gather an additonal amount of pledges approaching $16,000 to reach the goal by 27 November. 

crash-boom-pop

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What We Read Today 23 November 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.

  • House panel finds no intelligence failure in Benghazi attacks (Greg Miller, The Washington Post) Republicans officially conclude that there was appropriate State Department, U.S. military and CIA response to the attack on the Benghazi consulate in Libya which killed four Americans, including Ambassador Christopher Stevens, 11 September 2012. Allegations of interference by the Obama administration before, during or after the attack were dismissed. The Republican-led House Intelligence Committee found that the Obama administration did not seek to mislead the public after the event.

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Nearly 36 Million People Live In Modern Slavery

by Felix Richter, Statista.com

Walk Free's Global Slavery Index defines slavery as people forced into labor, debt bondage, trafficking, sexual exploitation for money and forced or servile marriage and there are nearly 36 million of them across the globe.

Read more »


Credit Drives the Economy

Chart of the Week 20 November 2014

Written by , Online Trading Academy

Debt deleveraging is still continuing across the globe.  How this is playing out and what investors should be doing is the subject of this week's discussion.

Global interest rates are discussed in the video following the Read more >> jump.
interest-10-year-global-380x220

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Charter School Chain Finally Discloses Salaries — With One Missing

Special Report From ProPublica

by Marian Wang, ProPublica

Update, Nov. 21: The chairman of the charter school chain has now responded to North Carolina regulators' request for clarification about why the son of the schools' founder was not included in salary disclosures despite being listed one of the charter school's organizational chart. Chairman John Ferrante called it "a mistake" for the son, Nick Mitchell, to have been placed on the organizational chart and said that "the org. chart is being updated to reflect this reality."

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Debt, Jobs, or Housing: What's Keeping Millennials at Home?

by Zachary Bleemer, Meta Brown, Donghoon Lee, and Wilbert van der Klaauw - Federal Reserve Bank of New York

Young Americans’ residence choices have changed markedly over the past fifteen years, with recent cohorts entering the housing market at lower rates, and lingering much longer in parents’ households. This paper begins with descriptive evidence on the residence choices of 1 percent of young Americans with credit reports, observed quarterly for fifteen years in the Federal Reserve Bank of New York’s Equifax-sourced Consumer Credit Panel (CCP). Steep increases in the rate of living with parents or other substantially older household members have emerged as youth increasingly forsake living alone or with groups of roommates.

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Department of Defense's Real Base Budget Grew at an Annual Rate of 1.9% from 2000 to 2014

from the Congressional Budget Office

The Department of Defense's (DoD's) base budget grew from $384 billion to $502 billion between fiscal years 2000 and 2014 in inflation-adjusted (real) terms—an increase of 31 percent and an annual average growth rate of 1.9 percent (see figure below). Several factors contributed to that growth. The largest rate of growth was in the costs for military personnel, which increased by 46 percent over the period.

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Infographic of the Day: Evolution of Robots in Film

Movie watchers seem to love any film containing a good robot, or an evil one for that matter! So here is a look at film robots since the 1920's.

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Russell Brand's Political Commentary Is Widely Disliked

from Felix Richter, Statista.com
by Niall McCarthy

According to a YouGov poll, Russell Brand's political commentary is widely disliked.

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What We Read Today 22 November 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.

  • House Republicans File Obamacare Lawsuit (Igor Bobic, Huffington Post) Republicans in the U.S. House of Representatives have filed a law suit accusing President Obama of "acting without congressional authority" when he ordered a delay in implementation of the employer mandate under PPACA (Patient Protection and Affordable Care Act of 2010, aka Obamacare).

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Arab World Widely Supportive of War on ISIS

from Felix Richter, Statista.com
by Niall McCarthy

American wars in the Middle East have always proven unpopular in Arab states but Obama's campaign against Islamic State militants in Iraq and Syria is turning out to be a rare exception.

Read more »


Oil and Currency Markets Reflect Expectations for Lower Global Economic Growth

by James Preciado and Jeff Baron , U.S. EIA

Since August, both crude oil and currency markets have been influenced by lower economic growth expectations in countries outside the United States. Prices in both markets recently broke out of established trading ranges, driven by concerns about weaker future global demand. The current situation, with the dollar index and oil prices moving in opposite directions, presents a sharp contrast to one in which crude oil supply disruptions or geopolitical risks would cause both the dollar index and crude prices to rise.

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Historical Echoes: Postage Stamps Portray Stories of American Banking History

by Mary Tao - Liberty Street Economics, Federal Reserve Bank of New York

Prior to 1876, there was fierce competition among engraving firms and private bank note companies for contracts to print U.S. Treasury bank notes. Then, in 1877, congressional legislation established the Bureau of Engraving and Printing (BEP) as the exclusive printer of U.S. government currency.

Smithsonian_Postal_Museum_1985_0482_20067

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CBO Presents Options for Reducing the Deficit: 2015 to 2024

from the Congressional Budget Office

The Congress faces an array of policy choices as it confronts the prospect of large annual budget deficits and further increases in the already-large government debt that are projected to occur in coming decades under current law. To help inform lawmakers about the budgetary implications of changing federal policies, CBO periodically issues volumes of policy options and their effects on the federal budget, of which this is the most recent. The agency also issues separate reports that present policy options in particular areas.

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Infographic of the Day: Happiness Index Around the World

This wonderful map shows how happy people feel around the world. In other words it shows the extent to which countries deliver long, happy and environmentally sustainable lives for their citizens. The editors at Econintersect do not buy the accuracy of this index - so what do you think?

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Vinyl Comes Back From Near-Extinction

by Felix Richter, Statista.com

While the whole world is talking about Spotify, Pandora, iTunes and other digital music services, a long-forgotten medium has come back from near-extinction: the LP.

Read more »


What We Read Today 21 November 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.

Read more »


Kansas City Fed: Manufacturing Growth Strengthens in November 2014

Of the three regional manufacturing surveys released to date for November, all show manufacturing expansion.

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14 November 2014: ECRI's WLI Improves But Still Forecasting Poor Economy Ahead

ECRI's WLI Growth Index improved but remains in negative territory. The index had declined for the previous 8 weeks. This index is continuing to forecast a slight contraction in 1Q2015. ECRI reported their coincident and lagging indices, and are shown below.

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Five Countries Accounted For 80% Of Terrorism Deaths In 2013

from Felix Richter, Statista.com
by Niall McCarthy

According to the Global Terrorism Index 2014, there were 10,000 terror attacks across the globe last year, resulting in nearly 18,000 deaths.

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What Are Consumers' Experiences and Expectations Regarding Credit Demand?

by Basit Zafar and Wilbert van der Klaauw - Liberty Street Economics, Federal Reserve Bank of New York

Today, we are releasing new data on consumers' experiences and expectations regarding credit demand. We have been collecting these data every four months since mid-2013, as part of our Survey of Consumer Expectations (SCE). Other data sources describing consumer credit either provide aggregates that are an interaction of credit supply and demand (such as the FRBNY Consumer Credit Panel), or show only short-term changes in supply and demand (as reported by the supply side in the Senior Loan Officer Opinion Survey), or are too infrequent to provide a real-time picture of changes in consumer credit demand and access (Survey of Consumer Finances). The goal of the SCE Credit Access Survey - which will henceforth be published every four months - is to fill this void. In this blog post, we provide an overview of the survey and highlight some of its features.

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Wedbush Securities and Two Officials Agree to Settle SEC Case

from the Securities and Exchange Commission

The Securities and Exchange Commission today announced that Los Angeles-based broker-dealer Wedbush Securities agreed to settle a pending SEC case for market access violations by admitting wrongdoing, paying a $2.44 million penalty, and retaining an independent consultant.

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Rail Week Ending 15 November 2014: Another Soft Week Inside a General Growth Cycle

Econintersect: Week 46 of 2014 shows same week total rail traffic (from same week one year ago) grew according to the Association of American Railroads (AAR) traffic data. Rail growth this week continues to demonstrate an improving economy - but the rate of growth softened in all of the rolling averages reported below. Rail counts are growing at approximately the same rate as the economy when viewing year-over-year.

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Fed's Balance Sheet 19 November 2014 Growth Continues?

Total Fed Balance Sheet

Fed's Balance Sheet week ending balance sheet was $4.452 trillion - above the record $4.447 trillion for week ending 12 November 2014 (last week).  As you can see from the above curve, the rate of growth is becoming flat. Note that on the 29 October 2014, the Federal Reserves governing board (FOMC) stated that .....

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Infographic of the Day: Email Authentication So Simple even your Grandma Could Understand It!

Emails are vulnerable to being hijacked, there’s no way around it.

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Econintersect Analysis:

Monetary Theory is Non-Ergodic

Beware So-Called ‘Long-Run’ Monetarist Correlations

by Philip Pilkington

When I ran regressions plotting the money supply against the CPI I was told that I should average them over 5 year periods because this would supposedly iron out ‘volatility’ and show long-run trends. I responded in a post saying that I was dubious of this practice because I did not believe it would show long-run trends at all. Rather I thought it was being used to screw with the data. Here is a concrete example, drawing on the M3 and the CPI, showing why it is wise to be on your guard against these sorts of aggregation.

ergodicity-problem-341x180

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Oil Price Slide – No Good Way Out

by Gail Tverberg, Our Finite World

The world is in a dangerous place now. A large share of oil sellers need the revenue from oil sales. They have to continue producing, regardless of how low oil prices go unless they are stopped by bankruptcy, revolution, or something else that gives them a very clear signal to stop. Producers of oil from US shale are in this category, as are most oil exporters, including many of the OPEC countries and Russia.

Full story »


Is There a Rental Shortage - Inflation Threat?

Written by

There is an obvious relationship between supply and demand. In the rental housing market, demand is eroding supply at a rapid rate according to recent data - likely due to changing demographics and preferences. The Consumer Price Index (CPI) is based 40% on housing costs - so the logical conclusion is that a rapid rise in inflation is just around the corner.

Full story »


The UAE and Saudi War on the Muslim Brotherhood Could Be Trouble for the U.S.

from STRATFOR

The UAE Cabinet approved a list of 83 designated terrorist organizations on Saturday, including al Qaeda and the Islamic State. Much more significant, though, was the inclusion of many Muslim organizations based in the West that are believed to be allied with the Muslim Brotherhood movement. Prominent among them are two American Muslim groups: the Council on American Islamic Relations and the Muslim American Society.

Full story »


October 2014 Existing Home Sales Had the Best Month in a Year

Written by

The headlines for existing home sales say that sales improved - with this is the first time in a year that home sales volumes grew year-over-year (seasonally adjusted data). Our analysis of the unadjusted data also is positive. The unadjusted three month rolling averages for sales are now only marginally negative but accelerating. Bottom line - this was a relatively good report.

Full story »


November 2014 Philly Fed Manufacturing Survey Jumps, Well Above Expectations, And Suggests Pickup in Growth

Written by

The Philly Fed Business Outlook Survey growth jumped and continues well into expansion territory for the ninth month. Key elements remain in expansion. 

Full story »


October 2014 Leading Economic Index Up Sharply, Good Growth Predicted throught the Holiday Season

Written by

The Conference Board Leading Economic Index (LEI) for the U.S. improved sharply 0.9% over last month. The index growth has been noisy but remains in a growth trend.

Full story »


October 2014 CPI Annual Inflation Rate Flatlined at 1.7%

by Doug Short and

The Consumer Price Index (CPI-U) year-over-year inflation rate has remained constant at 1.7% for the last 3 months. Energy prices decreased whilst shelter increased countering energy's decline. The annual core inflation rate remains under the targets set by the Federal Reserve.

Full story »


Culture Shocks

Age of Wisdom, Age of Foolishness (51)

Written by , KeySignals.com

The recent policy maker induced market correction, suggested in Age of Wisdom, Age of Foolishness (45) Worlds in Motion[i] and initiated in Age of Wisdom, Age of Foolishness (46) “If At First You Don’t Succeed…..[ii] was swiftly executed; so that those who missed it were soon calling for a return to the easy money status quo that will lead to an equity market retracement and then additional gains. Policy makers have other ideas in mind however; and there will be no return to the pre-correction fundamental status quo. In fact, policy makers are now intent upon fundamentally changing the behaviour of market participants instead.

Full story »


A Tale of Two Economies -- It Was the Better of Times, It Was the Worst of Times

by Paul Kasriel, The Econtrarian

As quantitative easing comes to an end (apparently) by the Fed and is taken up by the European Central Bank (ECB), let’s compare the behavior of nominal domestic demand in each central bank’s economy and venture a reason for any differences.

Full story »


Residential Building Sector Again Mixed in October 2014, But Long Term Growth Still Trending Down

Written by

Residential building permits were a mixed bag. Although the amount of permits was higher than completions this month - the amount of permits continues to trend down.

Full story »


Why Lower Oil Prices Won't Kill the Renewable Energy Boom

Money Morning Article of the Week

by Kent Moor, Money Morning

Whenever oil prices drop, everyone always wonders how it will affect wind and solar power.

It follows from the traditional assumption that renewables like these are only competitive when oil and natural gas prices are high.

After all, the early stages of wind and solar power came with a hefty front-loaded price tag, requiring massive government subsidies to both producers and end users to get off the ground.

Full story »


The Last Argument of Central Banks

by John Mauldin, Thoughts from the Frontline

For a central banker, deflation is one of the Four Horsemen of the Apocalypse: Death, Famine, Disease, and Deflation. (We will address later in this letter why War, in the form of a currency war, is not in a central banker’s Apocalypse mix.)  It is helpful to understand that, before a person is allowed to join the staff or board of a central bank, he or she is taken into a back room and given DNA replacement therapy, inserting a gene that is viscerally opposed to deflation.

Full story »


October 2014 Producer Price Inflation Continues to be Moderate (Same Headline as Last Month)

Written by

The Producer Price Index inflation continued to be slight. In all events, the intermediate processing continues to show a moderation of inflation in the supply chain.

Full story »


Stratfor: On Obama and the Nature of Failed Presidencies

by George Friedman

We do not normally comment on domestic political affairs unless they affect international affairs. However, it is necessary to consider American political affairs because they are likely to have a particular effect on international relations. We have now entered the final phase of Barack Obama's presidency, and like those of several other presidents since World War II, it is ending in what we call a state of failure. This is not a judgment on his presidency so much as on the political configuration within it and surrounding it.

Full story »


October 2014 Sea Container Counts Showing Exports Falling of the Proverbial Cliff

Written by

Export container counts continue to weaken, which is a warning that the global economy is slowing. Export three month rolling averages continue to decelerate - being in negative territory year-over-year. This is a headwind for 4Q2014 GDP. Container counts are a good metric to gauge the economy.

Full story »


October 2014 Industrial Production Marginally Declines, Under Expectations

Written by

The headlines say seasonally adjusted Industrial Production (IP) marginally declined. Econintersect‘s analysis is slightly better  - but the unadjusted rolling averages also marginally declining from last month. 

Full story »


November 2014 Empire State Survey Rose Moderately and Remains in Expansion, Key Internals Mixed

Written by

The Empire State Manufacturing Survey index rose moderately (4 points), and remains in expansion territory. Key internals were mixed.

Full story »


The ‘Information Asymmetry’ Paradigm is Vacuous

Fixing the Economists Article of the Week

by Philip Pilkington

Sympathetic Post-Keynesian types often ask me what I think of the whole ‘asymmetric information’ paradigm. They’re often struck when I say that I think that its vacuous. After all doesn’t this paradigm undermine the dreaded General Equilibrium theory? Well yes it does but that doesn’t mean that it is in any way substantive. You can’t just lend a paradigm credence because it produces results that overlap with your own.

Full story »


Wines People Like: The Evidence and What It Means

by Elliott Morss, Morss Global Finance

Introduction

The evidence from blind tastings of wines people like and their ability to tell differences between wines is growing rapidly.  In this piece, I look carefully at this evidence and attempt to interpret what it all means.

Full story »


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FOREX NEWS by DailyForex

Alibaba Faces “Its Most Dangerous Moment”

Alibaba Group Holding Ltd. is China’s, and probably the world’s, biggest online commerce company. Millions of users as well as businesses and suppliers use their three main sites — Taobao, Tmall and Alibaba.com.

UKIP Wins 2nd By-election

Mark Reckless became the United Kingdom Independence Party’s (UKIP) second elected MP when he won the Rochester and Strood by-election last night with a majority of 2900, having won the support of 42% of the vote.

Yen Climbs; Asia Stocks Drop

Japan’s yen rose for the first time in seven days as Finance Minister Taro Aso said its decline has been too fast. Most Asian stocks fell, with the regional index headed to its biggest weekly retreat since mid-October, while crude oil climbed for a second day.

Dollar Rises on Central Bank’s Divergence

Yesterday’s release of the most recent Federal Reserve minutes suggest that the U.S. central bank is keen on raising interest rates in 2015 and more, that the FOMC is relatively unconcerned about the greenback’s strength.

Japan Goes To The Polls

The Japanese Prime Minister, Shinzo Abe, has announced that parliament will be dissolved on 21st November and a snap general election held.


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Econintersect Investing:

The Week Ahead: Investing in the Age of Complacency

by Jeff Miller, A Dash of Insight

The upcoming calendar has plenty of data in a holiday-shortened week. There could be OPEC or Black Friday news. In spite of this avalanche of information, I expect commentators to look for an organizing principle. In a week when many will be giving thanks, there will be scrutiny of the new market highs.

Many will ask: Are investors too complacent?

snoozing-on-porch-380x184

Read more »


Trefis: Highlights Week Ending 21 November 2014

Written by

Below is a summary of the activity at Trefis during the past week that Trefis thought Econintersect readers would find interesting.

Trefis is a financial community structured around trends, forecasts and insights related to some of the most popular stocks in the US. It provides the unique feature of allowing the user to model future valuation based upon projected changes in components of each business. It also provides communication capabilities among members, including consensus of member analysis compared to Trefis staff analysis and blogging opportunities for members.

Click on graphic for larger image and go to Trefis interactive page.

Click "Read more..." to see our clickable table of contents with the most covered companies (more than 1 article) of the week identified.

Read more »


Investing.com Weekly Wrap-Up 21 November 2014

U.S. stocks gain on Chinese rate cut, Draghi comments; Dow rises 0.51%

by Investing.com Staff, Investing.com

China's move to loosen monetary policy coupled with the European Central Bank's hints at taking similar steps to stimulate its economy sent U.S. stocks rising on Friday. investing.com-logo

At the close of U.S. trading, the Dow 30 rose 0.51%, the S&P 500 index rose 0.52%, while the Nasdaq Composite index rose 0.24%.

The S&P 500 VIX index, which measures the outlook for market volatility, was down 5.01% at 13.58.

Read more »


Low Risk High Reward Trading and Investing

Online Trading Academy Article of the Week

by Sam Seiden, Online Trading Academy

As the old saying goes, "risk and reward go hand in hand." I can't tell you how many times I have heard that in the trading and investing world. Most people think the more reward you try to attain, the more risk you need to take on. Many years ago, I heard this so often that I believed it. However, after many years of trading experience I could not disagree more. It is very possible to attain plenty of reward taking on minimal risk if you know what to look for when analyzing price charts.

Read more »


Investing.com Technical Summary 20 November 2014

Investing.com Technical Analysis (as of Thu, 20 November 2014 05:00pm EDT)

by Investing.com Staff, Investing.com

Below, technical overviews and analysis for key stock indices, commodities and currency pairs, investing.com-logobased on market activity at the close of the 20 November 2014 U.S. session. This information is a comprehensive summary derived from simple and exponential moving averages along with key technical indicators shown for specific time intervals.

Read more »


Searching for a Bottom

Investing Daily Article of the Week

by Robert Rapier, Investing Daily

About two years ago, I outlined my expectations for oil prices over the next few years. I reiterated those expectations in an article here at Investing Daily in mid-summer 2013. I wrote that I thought "oil is likely to trade in a range - perhaps as low as $70 up to maybe $120 for the next few years."

Read more »


Swimming Naked

Sungarden Investment Research Article of the Week

by Rob Isbitts, Sungarden Investment Research

First, get your mind out of the gutter :). This is not an article about skinny-dipping. That's in next week's blog (ok, kidding). Rather, this week's blog title is from a Warren Buffett quote. The full quote: "you never know who's swimming naked until the tide goes out." Pretty funny stuff from a fellow who spends a lot of his time in the exact center of the U.S. (Omaha, NE), nowhere near an ocean.

Read more »


Recent News From Xinyuan Real Estate Not Good, BUT-

by Elliott Morss, Morss Global Finance

Introduction

Xinyuan (NYSE:XIN) announced its third quarter results last week and they were not good. Following the announcement, some continue to support the company while others do not. To get a balanced and current view of the company, I read with care the earnings call transcript of its third quarter results as well as its latest SEC filing. Below, I present the bad news, some perspective, and the good news.

Read more »


Investing.com Technical Summary 18 November 2014

Investing.com Technical Analysis (as of Tue, 18 November 2014 05:00pm EDT)

by Investing.com Staff, Investing.com

Below, technical overviews and analysis for key stock indices, commodities and investing.com-logocurrency pairs, based on market activity at the close of the 18 November 2014 U.S. session. This information is a comprehensive summary derived from simple and exponential moving averages along with key technical indicators shown for specific time intervals.

Read more »


Deflation Shadows Bulls with Disequilibrium in Capital Markets

View from the Hill 17 November 2014

by J. Clinton Hill

Deflation is casting a larger shadow over the U.S. equity bull market and I believe that the Fed may be forced to defer raising rates if the U.S. Dollar continues its upward trajectory while weaker G-8 members (Japan, China, and Europe) maintain highly accommodative policies. As the last man standing, the USA is winning by default, but is this sustainable? Meanwhile, some market pundits regard the drop in oil prices as a long term positive influence for the economy.

Read more »





Precious Metals Corner:

Prometheus Market Update for Gold Currency Index

Gold Currency Index Daily Chart Analysis

by Erik McCurdy, Prometheus Market Insight

The Gold Currency Index (GCI) is a composite of gold prices in the currencies of 10 of the largest economies in the world as defined by GDP. It is therefore currency independent, reflecting the intrinsic value of gold as an international currency itself.

Read more »





Live Market Commentary:

Market Commentary: Markets Close With New Historic Highs For The DOW And SP500

Written by

Closing Market Commentary For 11-21-2014

The DOW and SP500 both made new closing highs today as Mr. Market continues to push the averages higher. Volume tapered down after the market opening, but remained at low levels throughout the session.

By 4 pm the averages closed after a relatively quiet afternoon session.


Read more »








Video of the Day:

The Keystone XL pipeline seems to be a lightning rod issue for the boys on the left and the right of the political process. This video is a clear example of the polarization process in the USA - explaining this issue in ways to try to evoke emotion. No wonder nothing gets done in Washington.

video of day picture







Forex Trader:

Investing.com Weekly Wrap-Up 21 November 2014

U.S. stocks gain on Chinese rate cut, Draghi comments; Dow rises 0.51%

by Investing.com Staff, Investing.com

China's move to loosen monetary policy coupled with the European Central Bank's hints at taking similar steps to stimulate its economy sent U.S. stocks rising on Friday. investing.com-logo

At the close of U.S. trading, the Dow 30 rose 0.51%, the S&P 500 index rose 0.52%, while the Nasdaq Composite index rose 0.24%.

The S&P 500 VIX index, which measures the outlook for market volatility, was down 5.01% at 13.58.

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Econintersect Opinion:

George Friedman: An Understated Problem and Possible Consequences

Written by

Random Thoughts from the High Desert

A "Failed Presidency" sounds like bad news for the President. In this case, however, we may be seeing the demise of the U.S. as we have known it.

Imperial President

Of course it would not be appropriate in an initial article on the subject for George Friedman to go that far, but I am not constrained by multiple client contracts so I can state the obvious.

Read more »


Chinese-style Globalization Resumes

by LEAP/Europe 2020, Leap2020.eu

This month a number of international events show us what Chinese-style Globalization means in terms of global governance:

Read more »


No Cut in Rates? Will Rajan Bite The Bullet?

Written by Sunil Chandra

All the Clamor for a Rate Cut...

As he gets ready to present the Fifth bi-monthly Monetary Policy Statement, Governor Rajan must be wondering about the clamor for an interest rate cut from all corners of the country.

Read more »


Australia and China after their FTA

Report from the East Asia Forum

by Peter Drysdale, East Asia Forum

The past week has seen big breakthroughs in Asia Pacific economic diplomacy. At the APEC summit, Xi Jinping and Shinzo Abe broke the diplomatic ice in the China-Japan relationship. The United States and China paved the way towards extending the successful International Technology Agreement through the WTO. They also did a game-changing deal that will entrench deep cuts to carbon emissions through to 2025-30. China brought trans-regional (as opposed to Eastern and Western Pacific) integration back to centre stage in APEC's quest for open regionalism. And in Brisbane, the G20 summit has crafted a global recovery strategy around broad-based cooperation on productivity-enhancing reforms and infrastructure investment, re-focused on the WTO and brought climate change back into play.

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Ideological Foundations of Mainstream Neoclassical Economics: Class Interests as “Economic Theory”

by Prof. Ismael Hossein-Zadeh

This appeared originally at Global Ressearch, 12 November 2014.

There is now a widespread consensus that mainstream/neoclassical economists failed miserably to either predict the coming of the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Not surprisingly, many critics have argued that neoclassical economics has created more confusion than clarification, more obfuscation than elucidation. Economic "science" has, indeed, become "an ideological construct which serves to camouflage and justify the New World Order" [1].

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Common Currency: A Forex Scandal that Epitomises the Blindness in the Banking Crisis

by Andre Spicer, The Conversation

The biggest open secret in the financial world has been confirmed. Regulators in the UK, the US and Switzerland have announced massive fines for some of the world’s largest banks for a manipulation of global currency markets that in its callous ubiquity says so much about the banking behaviours that sparked the global financial crisis.

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Civilizations

Written by

In a previous post, I presented a framework called “WMDs, Germs, and Economies” (WMDs, Germs, and Economies: Part I). This post will delve a little deeper in the middle layer, focusing on civilizations.

First of all, what is a civilization?

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Austerity Budgeting hasn't Worked for George Osborne, and It Won't Work for Ed Balls

by John Weeks, The Conversation

Those of us that follow the mainstream media encounter information but few genuine insights. Recently one jumped off the page at me in a Financial Times piece. In an otherwise undistinguished endorsement of budget cutting, the article tells us that: “the next election is again set to be dominated by austerity”, but that: “this is not the impression anyone would receive from listening to recent political rhetoric”.

Read more »


A National Strategy

Written by Frans Jager, Catnet Corp.

As we have recently witnessed another national election come and go, the grumblings about the dysfunction in Washington D.C. intensify and - believe it or not - there are even some initiatives of bipartisan nature that try to do something about it:

  • The Bipartisan Policy Center published, on June 24, 2014 the report by its Commission on Political Reform titled "Governing in a polarized America: A Bipartisan Blueprint to Strengthen our Democracy."
  • No Labels, a national movement of Democrats, Republicans and independents dedicated to a new politics of problem solving, offered earlier in the year a "Shared Vision for a Stronger America" with contributions from politicians from both sides of the aisle, led by former governor Jon Huntsman and Senator Joe Manchin.

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The Interventionist Fed Must Be Ended

by Seth Mason, ECOMINOES.com

Appeared originally at Solidus.Center, 17 November 2014.

The Federal Reserve is comprised of economic “interventionists” who ostensibly manipulate the money supply and interest rates for the betterment of the economy and the prosperity of the American people. In reality, the Fed’s monetary manipulation causes severe distortions in the economy that benefit a select few while harming a large swath of people.

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