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.

posted on 01 September 2015

Early Headlines: China PMIs Weaken Further, India Growth Slows, U.S. Public Sector Corruption, Americans "Angry" With Government, Australia Nears World Growth Record And More

Written by

Early Bird Headlines 01 September 2015

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.




  • Paul Mason's Postcapitalism: The left's unwitting conversion to neoliberal economics (City A.M.) A new book claims the left has sold out and makes a "karaoke leftie assumption that those who believe in smaller government have ignoble ulterior motives". The theme of the book "Postcapitalism" by Paul Mason is that the new "sharing" or "gig" economy exemplified by Uber, Airnb and peer-to-peer lending, represents an end to the decline of the old left. But the author of this article (Ryan Bourne, head of public policy at the Institute of Economic Affairs) thinks Mason completely misses the point completely and sees the new economy of simply an extension of neo-liberalism and is not a new breath of life for the left.


  • Forest Service Official Who Let Nestle Drain California Water Now Works for Them (Anti Media) Hat tip to Doomsted Diner via Twitter. Revolving door corruption permeates every level of government. An ongoing investigation by The Desert Sun into Nestle's contentious bottled water operations in drought-stricken California first disclosed that the company's permit to draw water had a rather astonishing expiration date that occurred over a quarter century ago, in 1988. Forest Service officials shirked their duty to review the company's long-expired permit by conducting numerous meetings about what was needed to initiate necessary procedures - but never once followed through with a single proposition to completion. And a key Forest Service official involved in the non-action retired from the Service in 2005 and has worked for Nestle since. See next article for more corruption.
  • CalPERS Chief Investment Officer Defends Tax Abuse as Investor Benefit (Yves Smith, Naked Capitalism) YS has contributed to GEI. She reports here that CalPERS Chief Investment Officer, Ted Eliopoulos, "made statements to the Investment Committee that are demonstrably false". See also next article. She writes here (it's complicated, go to the link for more details):

Eliopoulos depicted a tax device widely used by general partners as virtuous by aligning the economic interests of the general partners with the limited partners, when it does nothing of the kind. Even worse, he failed to mention that the IRS has recently proposed rules to end this tax abuse.




  • Economic growth slows to 7% in June quarter (Business Standard) Weak demand and no growth in investment offset increased government spending as India's GDP grwoth slowed to 7.0% in the second quarter from 7.5% in the first quarter. Manufacturing, electricity and services saw slower growth in the current quarter.



  • China warned: You don't know what you're doing (City A.M.) City figures launched a broadside against China's government last night, after authorities spent the weekend rounding up nearly 200 people deemed guilty of "illegal rumour-mongering". Beijing appears to have lost faith in its ability to stem a decline in China's shares through large-scale purchases. Instead, it has turned on traders, social media users and journalists whom it accuses of exacerbating last week's market volatility.
  • China state media announce confessions in stock market investigations (Reuters) Chinese state media announced a slew of confessions on Monday following investigations into dramatic stock market fluctuations, including from a reporter who said he had spread false information that had caused "panic and disorder". An official from China's securities regulator, and four senior executives from China's largest brokerage, CITIC Securities (600030.SS) (6030.HK), confessed to insider dealing, the official Xinhua news agency reported. China is trying to restore value to its stock markets, where shares have lost around 40 percent since mid-June on concerns over the slowing economy and a devaluation of the yuan in mid-August. Authorities have announced crackdowns on fabricated trading information, alleged malicious short selling and other strategies seen as weakening confidence in the stock market.


>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing

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, using Livefyre 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.

You can also comment using Facebook directly using he comment block below.

Econintersect Contributors


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.

Take a look at what is going on inside of
Main Home
Analysis Blog
From Money Controlling People to People Controlling Money
Rising Tide Does Not Lift All Ships
News Blog
Infographic Of The Day: The Most Popular Jobs In A Decade
Early And Late Cycle Verdicts Are Baseless
The Surprising Divergence Of Employment And Capacity Utilization
The Slump In Undocumented Immigration To The United States
U.S. Productivity Growth Flowing Downstream
Your Light Bulbs Could Be Playing Havoc With Your Health - Here's Why
Mentions Of Trump And Clinton In Hip Hop Lyrics
Salary Is The Most Important Job Criterion
Can Switch Replicate Nintendos Past Success
The Numbers Behind The Zumwalt
Docking A Huge Cruise Ship Is More Complicated Than You Think
New Seasonal Outlook Updates from NOAA and JAMSTEC - Let's Compare Them.
Infographic Of The Day: Driving Into A Battery Powered Future
Investing Blog
FinTech Is Taking A Bite Out Of Banks
Options Early Assignment - Should You Worry?
Opinion Blog
The Beer Goggles Stock Market
US 2016 Election: Will US-China Relations Change
Precious Metals Blog
Preparing For Post-Election Social Unrest
Live Markets
21Oct2016 Market Close: Major US Indexes Close Flat On Low Volume, Crude Prices Resume Climb, US Dollar Stabilizes In Mid 98 Handle, Yes, Most Investors Are Worried Which Way This Market Will Go
Amazon Books & More

.... and 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

Crowdfunding ....



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 - 2016 Econintersect LLC - all rights reserved