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.



posted on 13 October 2015

Early Headlines: China Imports Crash, Asia And Europe Markets Lower, Obamacare Dropouts, U.S. Banks 'Nationalized', Earth Cracks The Moon And More

Written by John Lounsbury

Early Bird Headlines 13 October 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.

early-bird-301-180

Global

  • Asian Stocks Lower on Weak China Import Data (abc News) Asian stock markets were lower Tuesday as China's trade data showed a larger-than-expected slide in imports, deepening concerns about slowdown in the world's second-largest economy. See next article.

  • Major World Indices (Investing.com) There is almost all red this morning for Asian and European markets. Data shown as of 4 am New York time 13 October. For latest data click on chart.

europe.asia.stocks.2015.oct.12.4.am.NY

U.S.

  • Insurance Dropouts Present a Challenge for Health Law (The New York Times, MSN News) There is no comprehensive data on why people drop or lose their marketplace coverage. Enrollment counselors, health care providers and consumers say cost is a factor. In some cases, people lost jobs or their income dropped after they enrolled. Other people signed up for coverage only to decide later that they could not afford it. Still others dropped their insurance after their federal subsidies - intended to help pay premiums - were reduced or eliminated because the government could not verify their incomes or concluded that they were earning more than they had reported on their applications.

  • Dick Bove: US banks have been 'nationalized' (CNBC) According to Dick Bove, a transportation bill in Congress has put the U.S. well on the road to socialism. The bipartisan Senate bill, announced in July, would cut the dividend paid by the Federal Reserve to banks each year from 6% to 1.5%, and the difference would go toward funding highway projects. Bove said:

"The government has taken the position that, because they offer FDIC insurance, they have the right to invade banks. Unfortunately, I believe the banks have been nationalized; I believe we're well on the road to socialism in terms of the way we're taking money flows out of the banking system and putting it into highways,"

UK

  • Update: Glencore May Be Worse Than I Thought (Michael Lewitt, Sure Money) ML has contributed to GEI. A short-covering rally has some incestors thinking the worst is over for this global commodities and mining giant. Lewitt says those that buy this rally will pay dearly.

glencore.2015.oct.12

Spain

  • Spain marks its national day - but not everyone is celebrating (The Conversation) Spain has been marking its national day - the anniversary of the arrival of Cristóbal Colón (otherwise known as Christopher Columbus) in the Americas. But this year's nationwide holiday comes at a moment of significant tension, amid questions about whether the nation will hold together for much longer.

Turkey

  • Turkish PM blames Ankara bombing on Islamic State (BBC News) The Islamic State (IS) group is the prime suspect in the Ankara bombings that killed nearly 100 on Saturday, Turkish PM Ahmet Davutoglu has said. No group has said it carried out the attack, but the government believes that two male suicide bombers caused the explosions, hitting a peace rally. The official death toll is 97 but rally organisers have put the figure at 128. Econintersect: Later official reports raised the total killed to 105 (according to the next article).

  • Why We Should Assume Erdogan Played a Role in the Ankara Bombing (National Review) Hat tip to Sig Silber. The proposal here is that if ISIS was responsible for the bombing in Ankara that it would necessarily "have taken place with the connivance of Turkish intelligence". Some convincing evidence is presented to support the thesis. The death toll in the bombing last Saturday has now risen to 105 with more than 400 injured. No one has yet claimed responsibility for the attack.

China

  • China imports collapse in September, exports remain weak (CNBC) China's trade slump extended into September, with imports collapsing and exports remaining feeble, underscoring the fragile state of the world's number two economy. Dollar-denominated imports plunged by a worse-than-expected 20.4% in September from a year earlier, while exports slipped 3.7%, producing a trade surplus of $60.34 billion

  • China to put growth before reform ambitions amid slowdown fear (Reuters) Chinese leaders will signal that growth is their priority over reform for the world's second-biggest economy by setting a growth target of around 7% in their next long-term plan even as the economy loses momentum, policy insiders say. The Communist Party's central committee will meet from Oct. 26-29 to set out their 13th Five-Year plan, a blueprint for economic and social development between 2016 and 2020. While the government has flagged a "new normal" of slower growth as it tries to shift the economy to sustainable, consumption-led growth, official data shows it has consistently at least met, and mostly exceeded, the growth targets it sets. Econintersect: Not mentioned is the questioning of the official data by some skeptics.

  • China's Political Predicament (Asian Century Institute) John West (who contributes to GEI) Discusses turmoil in China, sudden exchange rate devaluation, Shanghai stock exchange meltdown, a factory explosion in Tianjin and massive capital flight. He asks if the infallible Chinese government losing its touch?

>>>>> 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


search_box

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 Econintersect.com
Main Home
Analysis Blog
The Truth About Trade Agreements - and Why We Need Them
Big Mess in Italy
News Blog
October 2016 JOLTS Job Openings Rate Shows Insignificant Year-over-Year Growth
Do Rises In Oil Prices Mean Rises In Food Prices?
Are Mobile Phone Payments Secure?
Infographic Of The Day: 12 Reasons To Let Your Employees Play Games
Early Headlines: Asia Stocks Up, Oil Down, House Has Stopgap $ Bill, Trump Sold All Stock, Euro Holding On, May Doubles Down, India Economy Struggles, Oz GDP Contraction And More
President Trump Must Be One-Term, Voluntarily!
Documentary Of The Week: Untold History Of The United States, 1890s To 1920
Where MPs Stood On Brexit
How Accurate Are Final US Election Polls
Brexit In The Supreme Court - Here's What It All Means
The States Where It's Legal To Smoke Marijuana
What We Read Today 06 December 2016
This Truck's Barrier Expands Out Of The Back For A Quarter Mile
Investing Blog
Exuberance Returns
Investing.com Technical Summary 07 December 2016
Opinion Blog
Trump And Modi: Birds Of The Same Feather, But With Different World Views
Oil Deal Won't Last Long
Precious Metals Blog
Silver Prices Rebounded Today: Where They Are Headed
Live Markets
07Dec2016 Pre-Market Commentary: Wall Street Takes A Breather, Crude Prices Slipping, Investors On Full Bull Run Despite Indicators In Extreme Greed Range
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government



Crowdfunding ....






























 navigate econintersect.com

Blogs

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

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com 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