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 14 November 2015

Early Headlines: Carnage In Paris, Amazon Groceries, London Luxury House Bubble Bursts, Russia Out Of Athletics, IMF Supports Yuan, Aussie Gold And More

Written by

Early Bird Headlines 14 November 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.





  • Reality Versus Rhetoric in Conservative "Anti-Government" Philosophy (Washington Monthly) It is generally accepted that a major difference between Republicans and Democrats is their views about the size of the public sector. But ironically enough, data show that the states that tend to vote Republican in presidential elections are also the ones that tend to benefit most from federal spending. Bigger, richer states on the coasts and in the upper Mid-West have been subsidizing smaller, poorer states with lower state GDP per person in the South, South-West, and Mountain regions for decades by paying more in federal taxes than the amount of benefits they receive in return. In 2012, the 15 biggest "giver" states had 42% of the population, GDP per person of $53,700 (in 2009 dollars), and accounted for 46.9% of the country's overall GDP. In contrast, the 15 states that received the greatest share of benefits from the federal government relative to what they paid in had 13.3% of the population, GDP per person of $42,800, and accounted for just 11.9% of the country's GDP. For state-by-state data see Federal Taxes Paid vs. Federal Spending Received by State, 1981-2005 (Tax Foundation).

    Econintersect: It is hard to rationalize the political behavior here. Is it simple ignorance among politicians and those who elect them? We doubt that. Is it false flag hypocrisy to deflect attention from the flow of funds? That also is not an easy case to defend. Perhaps it is some combination of ignorance and deliberate manipulation laced with a fervent ideological belief that, if things were to change, the dependency status of the "taker" states could be diminished? At this point that is the least cynical possibility we can come up with. The data, though is quite clear: In 2012 68% of the states that voted for Obama were "givers" while 96% of the states for Romney were "takers".



  • Productivity in the UK vs the US - can we play catch up again? (Bank Underground) Productivity growth in the UK has been puzzlingly weak in recent years. By contrast, US productivity growth has been relatively robust at higher levels. There is a macroeconomic literature, however, that suggests that countries with lower levels of productivity should grow more quickly than high productivity countries. I argue that there is evidence of the UK catching up with the US in the past, but this relationship appears to have broken down after the financial crisis. If the past relationship between US and UK productivity returns, the prospects for UK productivity could be bright.

  • London Mansion Prices Fall 11.5% as Home `Bubble' May Have Burst (Bloomberg) London's most expensive homes and apartments have slumped in value as the government's stamp duty sales tax damps demand. Prices of homes valued at 5 million pounds ($7.6 million) or more fell 11.5% on a per square foot basis in the third quarter from a year earlier


  • Paris attacks: At least 153 killed in gunfire and blasts, French officials say (CNN) This is a headline dated 1:18 AM ET.

  • 120 dead in Paris attacks, worst since WWII (Associated Press) A series of attacks targeting young concert-goers, soccer fans and Parisians enjoying a Friday night out at popular nightspots killed at least 120 people in the deadliest violence to strike France since World War II. President Francois Hollande condemned it as terrorism and pledged that France would stand firm against its foes. The worst carnage was at a concert hall hosting an American rock band, where scores of people were held hostage and attackers ended the standoff by detonating explosive belts. Police who stormed the building encountered a bloody scene of horror inside. Paris Prosecutor Francois Molins said as many as five attackers were killed, though it was not clear how many there were altogether and how many, if any, were still at large. Other officials said seven attackers had been killed and that police were searching for other possible accomplices. Authorities said the death toll could exceed 120 for at least six sites, including the national stadium and a tight circle of popular nightspots. For what the ongoing consequences of these attacks might be see What To Expect After The November 13 Paris Attacks (Stratfor, GEI Opinion).


  • The Latest: Merkel still not prepared to set refugee limit (Associated Press) Chancellor Angela Merkel is making clear that she still isn't prepared to name an upper limit to the number of refugees who can come to Germany, even as domestic political pressure to reduce the migrant flow mounts. Merkel told ZDF television Friday that the only way to reduce the number of refugees who arrive is tackling the reasons why people are fleeing to Europe, "and they are outside Germany."


  • Athletics doping: Russia provisionally suspended by IAAF (BBC Sports) Russia's athletics federation has been provisionally suspended from international competition - including the Olympic Games - for its alleged involvement in widespread doping. The IAAF took action after the publication of an independent World Anti-Doping Agency (Wada) report that alleged "state-sponsored doping". Its council members voted 22-1 in favour of Russia being banned.

  • Half of Russia's Richest People Are Planning to Cash Out (Bloomberg) It's been a quarter century since the fall of the Soviet empire triggered one of history's greatest wealth transfers. Now bankers are preparing for another as Russia's first generation of capitalists makes way for the next. Confidential surveys of dozens of millionaires and billionaires conducted since European and U.S. economic sanctions began last year show Russia's wealthy are finding little support within the country's legal framework to pass down businesses. A majority say they're taking the issue of succession seriously for the first time.


  • I.M.F. Officials Back Inclusion of Renminbi in Fund's Currency (The New York Times) International Monetary Fund (IMF) staff members recommended Friday that China's renminbi be included in the fund's benchmark basket of currencies, a big step forward for the country's long campaign to turn its currency into one of the pillars of international finance. Christine Lagarde, the managing director of the I.M.F., said that the fund's executive board would decide on Nov. 30 whether to add the renminbi to the fund's unit of accounting, which would clear the way for central banks to hold more of it in their reserves.



>>>>> 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
Comments on Feyerabend’s ‘Against Method’, Part III
Taking a Wrench to Healthcare
News Blog
Case-Shiller Home Price Index August 2016 Year-over-Year Rate of Growth Marginally Improves
Russia Falls Into Old Habits
Infographic Of The Day: Commodity Update, Is The Summer Slump Over
Early Headlines: Asia Stocks Mixed, Oil Mixed, Voting Fraud, Pres. Forecast Little Changed, CETA Not Dead, Generous Iraqis, Terrorists In Pakistan, Duterte Wants Divorce From US And More
October 24, 2016 Weather and Climate Report - La Nina / El Nino?
Most Read Articles Last Week Ending 22 October
Londoners Most Uneasy About Chatting To Strangers
Average Gasoline Prices for Week Ending 24 October 2016 Now Higher Than One Year Ago
Earnings And Economic Reports: Week Starting 24 October 2016
New Findings: Anxiety Is Linked To Death From Cancer In Men
Nearly 1 In 6 European Adults Is Considered Obese
Acupuncture Is Useless
September 2016 CFNAI Super Index Moving Average Declines
Investing Blog
Slow Motion Torture
The Week Ahead: How Long For This Trading Range?
Opinion Blog
What Triggers Collapse?
The Beer Goggles Stock Market
Precious Metals Blog
Preparing For Post-Election Social Unrest
Live Markets
25Oct2016 Pre-Market Commentary: Wall Street Pensive Awaiting Corporate Earnings And Economic News
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