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.



>> Click Here for Historical Wall Post Listing <<

What We Read Today 16 May 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 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.

  • Kentucky Sues DEA To Free Its Impounded Hemp Seeds [Update] (Ryan Grim and Matt Ferner, Huffington Post) If a government official breaks a law he is likely to be fired (or worse). U.S. federal law classifies industrial hemp as a controlled substance since it is a low psychoactive member of the cannabis family, the most famous member being marijuana. The U.S. law is one of the most restrictive in the world. The problem here is not the DEA, it is a U.S. law that doesn't make sense. See Wikipedia for descriptions of the many industrial and commercial product uses of hemp, one of the most environmentally friendly bio crops that can be grown. Econintersect message to U.S. Congress: Fix the stupid law, stupid!

  • Feds Lurch Closer to Rewriting Rules of Internet (Julianne Pepitone, NBC News) Fast lanes on the internet took a step closer to reality on Thursday (15 May 2014), The FCC (Federal Communications Commission) approved a preliminary proposal that would allow companies that could afford to pay extra to buy faster delivery on the internet. Companies like Netflix could deliver video content at speeds then companies like Econintersect could not afford to use. The FCC says it is also considering changing the classification of internet services providers to a utility (like telephone and electric service) It is argued that this would assure fair access to all internet traffic generators and allow small start-ups to continue to have the ability to compete with the "big boys". See recent GEI News articles here and here for news about the darker side potential of changing net neutrality rules.
  • Trading Ban American Airlines Retirement Accounts (AAII Investor Update) Over the past three years approximately 1,300 American Airlines employees from trading into their retirement plan mutual funds over the past three years due to excessive activity. The mutual fund company involved is T. Rowe Price. Although most mutual funds have this clause in their agreements it is rare that it is exercised. Mutual fund management is not organized for handling frequent trading. Those who wish that feature should use ETFs which are structured to be able to handle rapid trading patterns. A problem for many retirement plans is that they have mutual fund options only and the ETFs are not available for traders.
  • World Court to Target UK for War Crimes in Iraq (Sarah Lazare, Common Dreams) Hat tip to Rob Carter. Then International Criminal Court (ICC) has announced a preliminary investigation into allegations of atrocities 'involving systematic detainee abuse' by UK soldiers in the city of Basra in southern Iraq. The events being investigated occurred between 2003 and 2008. The US. has never agreed to be be under the jurisdiction of the ICC.
  • Sudan judge sentences Christian woman to death for apostasy (MSN News) A Christian woman, eight months pregnant, has been sentenced to hang in three days under the Islamic sharia law of Sudan. Her crime? Being a Christian when her father was Muslim. Under Sharia law the religion of the father is required for the child and changing from Muslim religion is a capital crime. Under Sudanese law President Obama would be sentenced to death. The woman can avoid the death penalty by recanting Christianity and returning to Islam. In any case she will receive 100 lashes for adultery because her marriage to a non-Muslim carries that penalty under sharia law.

Today there are 12 articles discussed 'behind the wall'.

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

You get a full year for only $25.

  • Russia Dumping US Treasuries? But Why the Heck in Belgium? (Wolf Richter, Testosterone Pit) Did Russia plan the Ukraine crisis before it actually broke? Between 13 October and 13 November 2013 Russia sold $10 billion U.S. Treasury securities on the way the shedding almost $50 billion by 14 March 2014. That was a decline by 1/3 in five months. The Ukraine crisis did not emerge full force until the latter half of November - see next article.

russia-us-treasuries-testos-2014-mar

However, the sales had little impact on international markets for Treasuries because Belgium, as agent for the EU, bought up four time as much as Russia sold (over $200 billion).

belgium-us-treasuries-testos-2014-mar

  • Timeline: Ukraine's political crisis (Al Jazeera) The Ukrainian crisis did not really start to emerge until 21 November 2013 when former President Viktor Yanuukovich announced abandonment of a trade agreement with the EU, seeking closer ties with Moscow. Between 13 October and 13 November 2013 Russia started aggressively dumping U.S. Treasury bonds. Is that a coincidence or was Russia anticipating in October actions that would precipitate a crisis with the U.S.? Or would plotting be a better word? See immediately previous article.
  • Confusion (Frederick J. Sheehan, Aucontrarian) Frederick Sheehan has contributed to GEI. Sheehan sees a massive shortcoverung rally driving the 10-year higher to yields below 2%. Sheehan views that as the last great mortgage refinancing opportunity before "the great inflation grows obvious". See also next article.
  • The Great Debate© – Bond Bubble? (John Lounsbury and Ted Kavadas, GEI Analysis) Confusion about interest rates is nothing new. To wit, read this debate between two confused observers more than 3 1/2 years ago.
  • More signs of US inflation stabilizing (Walter Kurtz, Sober Look) Kurtz thinks the spike in the latest PPI (Producer Prices Index) represents an inflection point ending a more than two year disinflationary trend and suggests that inflation has bottomed in the U.S. for the latest cycle. See GEI Analysis for detailed analysis.

ppi-core-2014-may

  • The Library of Congress Wants to Destroy Your Old CDs (For Science) (Adrienne Lafrance, The Atlantic) Some 20-year old CDs won't play anymore. They just weren't built to last. A group at the Library of Congress is researching old CDs to determine how they might be preserved.
  • Picture this: U.S. cities under 12 feet of sea-level rise (Nickolay Lamm, MSN) Without dikes and retaining barriers coastal U.S. cities would be transformed if arctic ice caps were substantially melted. Lamm has collected illustrations of what scenes in 12 U.S. cities might look like if the mid-range of sea level rises (12 feet) were experienced. Click on picture of the Jefferson Memorial in Washington DC to view a slide show at MSN.

jefferson-memorial-12-foot-sea-rise

  • The Oh-So-Fragile Class of 2014 Needs to STFU And Listen to Some New Ideas (Olivia Nuzzi, The Daily Beast) Christine Lagarde decided not to serve as commencement speaker at Smith College after students petitioned against her appearance. Condoleezza Rice withdrew from the Rutgers commencement for a similar reason. The author laments the unwillingness of millennials to listen to anything that they do not totally agree with. After all, isn't that the essence of intellectual curiosity? If such behavior continues it is possible that ex-presidents may also have to decline to attend some college commencements, although not all of them being rejected by the same institutions. Will we face the day when loss of intellectual curiosity is followed by the loss of intellect altogether? Or have we already achieved a certain level of that result?
  • Paul Ryan's Approach To Poverty Is Straight Out Of The 19th Century (Arthur Delaney, Huffington Post) In spite of the contentious title this is a worthwhile read. It structures the debate between the need for personal responsibility and the need for social safety nets within meaningful contexts. The article falls short of articulating how the two can/should be brought together but a thoughtful reader will come to the conclusion that bringing the two to common ground is the key to resolution of the seeming conflict. Overcoming the moral hazard of welfare and also assuaging the damage of apparent lack of compassion is what the common ground should strive to achieve.
  • Markets expect June action from the ECB (Walter Kurtz, Sober Look) Rumors of mounting support from Germany for ECB easing next month has decimated the euro in trading this week. From a high near 1.3990 last Friday morning the EUR/USD pair dropped 2.04% to close at 1.3704 Thursday 15 November. This is a sharper drop than the one that occurred two months ago the last time the forex market was rocked by similar rumors. In that case it took almost four weeks weeks for a decline of 1.93%. Tuesday and Wednesday this week it looked like the pair might be putting in a bottom but Thursday saw another big decline.

eurusd-sober-2014-may-15


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



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
Slow Economic Growth Will Be Around For A Long Time
The Job Guarantee, Wage-Price Inflation And Alternative Solutions: Part 2
News Blog
Why New Jets Could Destroy Airlines
March 2017 Texas Manufacturing Survey Continues to Expand
Wage Growth After The Great Recession
Is OPEC Losing Its Ability To Influence Oil Prices?
Many Worry That The Great Recession And Mounting Student Debt Have Stunted Millennials' Financial Development
Infographic Of The Day: Visualizing The Shifting Income Distribution Of American Jobs
Early Headlines: Asia Stocks, Dollar, Oil All Down, Gold Up, Border Wall Obstacles, US To 'Fix' Gov With Business Ideas, ACA Death Spiral, US C-I Lending Down, Merkel Election Boost, And More
Most Read Articles Last Week Ending 25 March
Funded By The Crowd
U.S. Top Source Of DDoS Attacks In Q4 2016
How Artificial Intelligence And The Robotic Revolution Will Change The Workplace Of Tomorrow
Amazon's Alexa Is A Fast Learner
What We Read Today 26 March 2017
Investing Blog
Market And Sector Analysis 25 March 2017
Earnings: A Lot Less Than Meets The Eye
Opinion Blog
Is The 20th Century Still The 'Hayek Century'?
Yellen's Dangerous Glass-Steagall Repression
Precious Metals Blog
These Gold Stocks Will Produce Much Bigger Gains Than Gold Itself
Live Markets
27Mar2017 Pre-Market Commentary: Fasten Seat Belts As The DOW Is Set To Open Down Triple Digits, Crude Prices Slipping Along With The US Dollar, Not A Good Day On Wall Street
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































 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 - 2017 Econintersect LLC - all rights reserved