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What We Read Today 09 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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Fox News Has Most Trusted Coverage (Poll, Quinnipiac University)  FOX News offers the most trusted network and cable news coverage, 29 percent of American voters say, when asked to compare the major TV news outlets in a Quinnipiac University National poll released today. But when network news is examined on a case-by-case basis, FOX drops in the ratings.  Local televison news is by far the most trusted when "trust somewhat" is included and all networks other than Fox are "trusted somewhat" significantly more than Fox.  But when it comes to "trust a great deal" only local news and CNN are close to Fox.  The details:

When asked, "Do you trust the journalistic coverage provided by FOX News," 20 percent of U.S. voters say "a great deal" and 35 percent say "somewhat." Scores for other networks are:

  • NBC News - 14 percent "a great deal" and 46 percent "somewhat;"
  • ABC News - 14 percent "a great deal" and 50 percent "somewhat;"
  • CBS News - 14 percent "a great deal" and 50 percent "somewhat;"
  • MSNBC - 11 percent "a great deal" and 41 percent "somewhat;"
  • CNN - 18 percent "a great deal" and 43 percent "somewhat."

The big winner is local television news, trusted by 19 percent of voters "a great deal" and by 52 percent "somewhat."

Articles about events, conflicts and disease around the world










Profits up, investment down: why it matters for low pay (James S. Meadway, New Economics Foundation)  Over the past ten years profits for UK corporations have risen by 2/3 but wages have scarcely budged and have fallen by about 8% since 2007.  Meadway says the stagnant wages is reflecting the low level of investment of the record profits.  Consumer spending has risen but that has been at the expense of higher hiousehold debt.  Meadway says a day rckonign is coming where corporations start investing for the future or economic contraction will set in as the tapped-out consumer starts to fade from retail markets.

British productivity is a national disgrace (Jremy Warner, The Telegraph)  The UK has productivity about 20% below the G& average and 40% below the U.S.  The problem has been particularly evident since the Great Financial Crisis.  Warner says the government is primarily to blame by over-regulating and providing tax incentives for employing inefficient labor rather investing for high efficiency (read that as automation).  He also suggests that the absence of a healthy finance sector resource to fund investment may also share the blame.



Liquidity evaporates in China as 'fiscal cliff' nears (The Telegraph)  Iteresting point in this article:  A number of Asian  housing markets are folloiwing a path similar to the U.S. housing bubble.  Only Singapore and Korea appwae to be "non-bubblific".


Chinese emissions from fossil fuel use fell in 2014 (GreenPeace)  Why did China's carbon footprint get smaller in 2014?  It's simple:  They burned less coal.


Other Economics and Business Items of Note and Miscellanea

Record Flows Into Muni ETFs Persist Amid Warning ’15 Will Hurt (Financial Advisor)  Individuals this year have added about $1 billion to ETFs that purchase state and local bonds, the fastest annual start since the funds started in 2007.  See Bloomberg.

Volatility draws billions into oil funds (Reuters)  Investors are playing with fire, pouring money into highly leveraged plays on the price of oil.  One fund, VelocityShares 3X Long Crude ETN, has seen its net assets rocket to $698.4 million at the end of February from $1.6 million at the end of July last year.  Fund amplifies daily market swings of up to 5% to higher levels.

Follow Buffett Out Of Exxon Mobil? Not A Chance (Seeking Alpha)

Investors Not Flocking To China Bond ETFs (Financial Advisor)  China has the third largest fixed income market in the world and have much higher interest rates than the U.S. and Japan, but ETFs launched last year for Chinese debt are failing to attract buyers.

Foreign Bonds Present Opportunities (ThinkAdvisor)  T. Rowe Price bond managers are warning that investors should lower their expectations for U.S. bond performance in 2015 but look to opportunities abroad.

Spring Is Coming, and These 20 Markets Are Heating Up (

Fiduciary duty becoming a more partisan issue, with Republicans standing alone against it (Investment News)

Advancing Cajun culture comes down to economics (The Advertiser)

Did Venus Have Carbon Dioxide Oceans? (Scientific American)  Venus may not always have been very hot and corrosive.  Simulations suggest Venus could have once harbored seas of supercritical carbon dioxide. 

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