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 January 2015

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.

ADDITIONAL CONTENT FOR MEMBERS

These reading lists and discussions are special content just for GEI Members.

To become a GEI Member simply subscribe to our FREE daily newsletter.


Greek PM Tsipras names anti-austerity cabinet, port sale halted (Reuters)  Prime Minister elect Alexis Tsipras named academic economist Yanis Varoufakis as his finance minister in an cabinet filled with anti-austerity veterans.  Both Tsipras and Varoufakis said they were prepared to negotiate debt settlements but the campaign was run on a promise to end austerity, so modifications to the imposed economic and fiscal programs in some way is likely to be included in any successful outcome. Yanis Varoukas has contributed to GEI (as co-author with Yves Smith) and has been frequently cited.


Impact of lengthy low oil price (Financial Times)  Oil is below $50 a barrel, a price at which many exploration projects are far from viable. Lex's Oliver Ralph and Alan Livsey discuss the impact of a lengthy spell at this level and whether shelved or capped projects will cause a supply shortage, increasing prices again.


Articles about events, conflicts and disease around the world

EU

Greece

Race Relations and Related News

Lebanon

Israel

Syria

Ukraine

Russia

China

Japan

Dominican Republic

As Indian stocks soar, business sentiment falters (Fast FT, Financial Times)   Over the last four months the Mumbai Sensex Index has risen 11% - and the MNI India Business Indicator sentiment metric for future conditions expectations has slumped by nearly 10%.  This month MNI future expectations declined by 6% (the steepest single-month decline since last February), while the Sensex is up more than 7%.  The MNI has reached its lowest level since April 2014, the month before the election of Prime Minister Narendra Modi and is down 5% since May.  Over the same eight months the Sensex has advanced by nearly 25% from the day after the election and 32% from the day before the election.  The FT attributes the lagging business sentiment to disappointment over the slow pace of reforms promised by Modi.

india-business-sentiment


Why Stupid Politics Is the Cause of Our Economic Problems (Joseph Stiglitz, Project Syndicate, The World Post)  The short verson of this article is that if a politician is not Keynesian h (she) is stupid.  Stiglitz discusses as one of his specific the "third arrow" of Prime Minister Shinzo Abe's economic recovery program for Japan.  Stiglitz says it was "launched in the wrong direction".  He is referring to the big consumption tax hike last year at the very time other programs were attemting to increase consumption.  Japan was thrown back into recession.  For some detailed analysis of why the tax hike was a bad idea, see GEI News, 04 July 2013),


Sociology unfound (Philip Cohen, American Sociological Association)  Over the past century and a half economists have gained an outsized recognition in the press compared to other social scientists.

social-sciences-nyt-1860-2013-justinWolters


Soaring Canadian Bonds (Walter Kurtz, The Daily Shot)  There has been some notice taken of the U.S. 30-year Treasury bond having yield decline almost 130 basis points (bp) over the past twelve months, from 3.68% to 2.40%, but how many have noticed the extraordinary developments north of the border?  Canada has seen a drop of 110 bp.  Kurtz says he thinks Canada has never before seen a 30-year yield blow 2%.

canada-30-year-12-months-2015-jan-27



US Treasury yield curve flattens ahead of the FOMC meet (Onkar Godbole, FXStreet)  The spreads at the beginning of them month:  1 month-2 years, 64 bp (basis points or 0.64%) 2-10 years, 146 bp; 5-30 years, 108 bp.  At close of trading 17 January 2015:   1 month-2 years, 52 bp; 2-10 years, 129 bp; and 5-30 years, 106 bp.  Godbole says this reflects a growing expectation that weak economic data will delay interest rate hike by the Fed.  If there is any significant wording changes after the Fed meeting today there will almost certainly be fireworks in the Treasury market.


Wages in the UK (Edward Harrison, Twitter)  Edward Harrison has contributed to GEI.  For the first time in seven years there has been real wage growtth in the UK over the last quarter.

uk-wage-growth


Other Economics and Business Items of Note and Miscellanea

US Suspends Largest Private Contractor in Iraq and Afghanistan for Massive Fraud (Scott Higham and Steven Rich, The Washington Post, Reader Supported News)  Hat tip to Rob Carter.

Stone Age Economics (Library of Econiomics and Liberty)  Unfortunately we think the author,  Scott Sumner, has one foot in the stone age himself in this discussion.

New study: No, free-market capitalism doesn’t make nasty economic shocks more likely (American Enterprise Institute)

Why we have not gone into space, & why we will. (Fabius Maximus) FM has contributed to GEI.

Sequencing your genome is becoming an affordable reality – but at what personal cost? (The Conversation)


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
Was Marx Right?
Angst in America, Part 4: Disappearing Pensions
News Blog
What We Read Today 27 April 2017
March 2017 Philly Fed Coincident Index Ticks Marginally Up
What Is 5G
April 2017 Kansas City Fed Manufacturing Remains Positive But Declines
March 2017 Pending Home Sales Seasonally Adjusted Index Declines
Durable Goods New Orders Improved in March 2017
22 April 2017 Initial Unemployment Claims Rolling Average Marginally Improves
Infographic Of The Day: These Are The Countries Most and Least Prepared For Cyber Attacks
Documentary Of The Week: History Of The World From The Beginning Of 'Time'
The Four Factors That Decide How We Feel About Income Inequality
Why Mexican Immigrants Are Healthier Than Their US-born Peers
The US View On Climate Change
Hilarious Security Camera Compilation
Investing Blog
Facebook Is Coming After Snapchat From All Sides
Know Your Energy Sector
Opinion Blog
Squeezing The Philippine Peso
Trump Just Imposed A New Tax On Lumber
Precious Metals Blog
A New Age For Gold
Live Markets
27Apr2017 Market Close: Wall Street Closes In The Green With Nasdaq Grabbing The 'Golden Ring' Crossing 6,000, WTI Crude Climbs Back Into The 49 Handle, US Dollar Slips Off Session Highs
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