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What We Read Today 02 March 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.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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Exclusive: Obama says Iran must halt nuclear work for at least a decade (Jeff Mason, Reuters)  The president "sees" the House Republican's bet and "raises ten".  Israeli Prime Minister Netanyahu is speaking the Congress tomorrow at Hose Speaker John Bohner's invitation to express opposition to a nuclear deal with Iran.



Articles about events, conflicts and disease around the world

U.S.

Greece

Turkey

  • Terror costs 1.2 trillion liras to Turkish economy (Hurriyet Dail News)  Recent moves in the peace process between the government and the outlawed Kurdistan Workers’ Party (PKK) are expected to have significant positive effects on the Turkish economy, as the country is estimated to have lost around 1.2 trillion Turkish Liras ($478 billion) after years of clashes with the PKK.

Israel

Iraq

Ukraine

Russia

China



 India v China: Airpocalypse (The Economist)  While much attention has been focused on CO2 emissions by the world's two largest countries, there is also a serious problem for both with unhealthy air pollution.  The term "airpocalypse" has been coined for the environmental disaster that is occurring.  From the Economist:

AIR pollution in India and China is already a great threat to human health. By one estimate, northern Chinese lives are 5.5 years shorter than they should be, all because of foul air. The lives of nearly 700m Indians would, on average, be over three years longer if national standards for air quality were met. One big problem is indoors: particles from smoke from dung or wood fires, or from paraffin stoves and lamps. In India indoor air pollution is thought to cause 1m deaths a year. But the fastest growing threat is outdoor air pollution, especially in cities. Air pollution is caused by traffic fumes, industrial emissions, construction dust, burning rubbish and more. It is thought already to kill nearly 700,000 Indians a year, and that toll is likely to rise sharply in the coming decades.

See also GEI News today:  This Documentary Has Gone Viral, Taking China by Storm

co2.emissions.india.china

air.pollution.india.china.2013


U.S. New-Home Sizes Set Record Last Year (Nick Timiraos, The Wall Street Journal)  The Great Recession saw median house sizes decline two years but then they started increasing again and have set new records each of the last three years.  The number of square feet for the median size home was 2,415 square feet in 2014.

house.sizes


Greece's future is its past (Rbecca Harding, Pieria)  The past for Greece has been as a strong trading economy and that is where its future lies.  Greece has a service economy dominating trade (which includes tourism) and that has shrunk by approximately 50% from the 2008 peak.  It is expected to bottom out at less than 40% of peak in 2017 and 2018 before it starts a slow climb.  The key to a better future is to turn service sector exports around sooner and then get the growth moving faster than now projected.

greece.serice.exports


The surprising economics of the Great Pacific Garbage Patch (The Week)  What is astonishing to Econintersect is that it is apparently considered cheaper to throw resources away than to reuse them. The top 20 "throw-away countries" are displayed in the graphic below.  This article is based on recently published research.  The research article: Plastic waste inputs from land into the ocean (Jenna R. Jambeck et al, Science).  Here is the abstract:

Plastic debris in the marine environment is widely documented, but the quantity of plastic entering the ocean from waste generated on land is unknown. By linking worldwide data on solid waste, population density, and economic status, we estimated the mass of land-based plastic waste entering the ocean. We calculate that 275 million metric tons (MT) of plastic waste was generated in 192 coastal countries in 2010, with 4.8 to 12.7 million MT entering the ocean. Population size and the quality of waste management systems largely determine which countries contribute the greatest mass of uncaptured waste available to become plastic marine debris. Without waste management infrastructure improvements, the cumulative quantity of plastic waste available to enter the ocean from land is predicted to increase by an order of magnitude by 2025.

plastic.in.oceans



Other Economics and Business Items of Note and Miscellanea

The Secret Behind My Hedge Fund Trade on Housing (Shah Gilani)  Shah Gilani contributes to GEI.

The 15 Most Miserable Economies in the World (Bloomberg Business)

Our Favorite Financial Stock Under $9 (Investing Daily)  Don't miss the Investing Daily Article of the Week at GEI Invetsing every Thursday.

(What’s Left of) Our Economy: New GDP Numbers Confirm U.S. Trade Policy as a Growth and Recovery Killer (Reality Chek)  Even a favorable shift in energy can't improve the U.S. trade deficit.

More Than A Bit Naive To See NeoLiberal Econ As Merely An Honest Dispute Between Academics (Roger Erickson, Mike Norman Economics)  Roger Erickson contributes to GEI.

Genomes document ancient mass migration to Europe (BBC News)

Hunter-gatherer European had blue eyes and dark skin (BBC News)



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