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 28 July 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.

  • Ukraine launches offensive to retake Donetsk (Ayse Weiting and David McHugh, AP, Yahoo News) The Ukrainian military has gained control of some key areas close to the city of more than 1 million. Russia is reported to be moving artillery across the border to support the rebels.

Russia continues to act and react in the Ukraine crisis in a way that betrays a dangerous sense of desperation, betting on military escalation by proxy that is ultimately beyond the Kremlin's control.
  • Bill to Legalize Unlocking Cellphones Passes Congress (Nick Wingfield, The New York Times) The law says you could pay huge fines and go to jail for years if you unlock your cell phone case. The new bill will decriminalize the act. This is something users for users of GSM (Global System for Mobiles) will find this useful when they want to change carriers. However, it will do nothing for CDMA (Code Division Multiple Access) users. Most U.S. systems are CDMA, European GSM.
  • Global Analysis - June 2014 (National Climatic Data Center) The combined average temperature for June was the highest on record for the month, besting June 1998 for top spot. The ocean was the strongest contributor to the record; land temperatures were 7th highest for any June on record. The first six months of 2014 were the third highest on record for that period. Follow climate economist Sig Silber's weekly reports for detailed updates on weather and climate issues.

Click on infographic for large and very large images at NOAA.gov.
weather-global-2014-june-600x300


There are 10 articles discussed today 'behind the wall'.

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

There are between 75 and 100 articles reviewed most weeks. That is in addition to the 140-160 articles of free content we provide.

You get a full year for only $25.


  • The Typical Household, Now Worth a Third Less (Anna Bernasek, The New York Times) Median household wealth adjusted for inflation is down 36% for the median U.S. household over the past ten years. The change from 2007 is even more dramatic, down 43%. See next article for more details.

household-net-worth-bernasek-nyt-2002-2014-jul-26

  • Wealth Levels, Wealth Inequality and the Great Recession (Fabian T. Pfeiffer, Sheldon Danziger and Rovert F. Schoeni, Russell Sage Foundation) The effects of the Great Recession on wealth distribution is dramatic and depressing. The effects amount to an economic "shock and awe". Below we have the data displayed in a graph from the Russell Sage report.

wealth-1983-2013-russell-sage

  • Challenges for Amazon's Cloud Computing Hopes (Quentin Hardy, The New York Times) Amazon Web Services (AWS) is seeing slowing growth far short of its goal of becoming the dominate cloud computing space. It seems that they are getting competition from Microsoft and IBM, among others.
  • The US Phillips curve (Walter Kurtz, Sober Look) Does current data indicate that we should be calling it a "Phillips loop"? In this cycle we can see one curve with rising unemployment and another curve for falling unemployment.

phillips-curve-sober-2014-jul-27

  • Repeal Prohibition, Again (Editorial Board, The New York Times) It only took 13 years to repeal prohibition on alcohol; why is it taking 40 years to not do the same for marijuana?

What is striking is a spate of articles from not exactly expected sources on the potential costs to Europe of putting the screws on Russia. The Financial Times has displayed quite a lot of blood lust on the topic of Russia, so it was instructive to see Wolfgang Munchau, who is based in Germany, sound a cautionary note in one of his comments.

Munchau points out that he's surprised by the IMF's latest forecasts, which simultaneously show Russian GDP for 2014 1.1% lower than previously estimated as a result of the sanctions implemented so far, while increasing Germany's by 0.2%. Munchau thinks the two in combination are not credible.

shanghai-comp-sober-tweet-2014-jul-27-annotated

  • Financial Predators Move On From Foreclosure Rescue, Enter Student Debt, Military Lending Spaces (David Dayen, Naked Capitalism) Dayen remarks that the "punishment" of mortgage fraudsters has been something like letting letting the arsonist go free and jailing the person who steals $5 off a dresser during the fire. He worries that the same type of "regulation" and "enforcement" may be infiltrating the credit predation on our military and the $1.2 trillion world of college loan debt.
"I do not find these results surprising," says Riley Dunlap, a sociologist at Oklahoma State University who has extensively studied the climate denial movement. "It's the countries where neo-liberalism is most hegemonic and with strong neo-liberal regimes (both in power and lurking on the sidelines to retake power) that have bred the most active denial campaigns-US, UK, Australia and now Canada. And the messages employed by these campaigns filter via the media and political elites to the public, especially the ideologically receptive portions." (Neoliberalism is an economic philosophy centered on the importance of free markets and broadly opposed to big government interventions.)

climate-change-agree-by-country-Guardian-2014-jul-23


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
Why Long-Run Theories of Profit and Accumulation Fall Short
Brexit - Who Wins and Loses
News Blog
Hilarious Security Camera Compilation
Brexit: Whither The Pound?
Is Chinese Growth Overstated?
Trading Ideas Between Countries
Recession To Recovery: A Decade In Perspective
Infographic Of The Day: Visualizing America's Changing Energy Mix
Early Headlines: Asia Stocks Up, Dollar And Oil Down, Gold Stable, Trump Tax Plan Today, Trump Reviews National Monuments, UK Deficit Lowest In 10 Years, China Banking Crisis, Canadian Lumber Tariff, And More
Jesus Christ vs. Confucius
2016 The Worst Year So Far For Syria's Children
Macron And Le Pen To Face Off For French Presidency - But She Won't Be Pleased With First Round Result
Best Selling Hard Soda Brands In The U.S.
What We Read Today 25 April 2017
April 2017 Chemical Activity Barometer Suggests Continued Growth Through 2017
Investing Blog
How Broken Is The Market?
Investing.com Technical Summary 24 April 2017
Opinion Blog
Trump Just Imposed A New Tax On Lumber
The Euro Is Stronger Than You Think
Precious Metals Blog
A New Age For Gold
Live Markets
26Apr2017 Market Close: Wall Street Closes In The Red After What First Appeared To Be Another Green Session, WTI Crude Slips Down Into The Low 49 Handle, While Gold Trends Sharply Higher
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