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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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Where Mohamed El-Erian is Putting His Money (Bloomberg Business)
Articles about events, conflicts and disease around the world
This Is the Worst Retirement Solution Ever (Suzanne Woolley, Bloomberg) The worst retirement solution ever is to keep working as long as necessary to be able to retire with financial security. Why? Personal health and employers often do not cooperate with that plan. This is a big problem because 72% of those in a retirement plan are not feeling "very confident" about their retirement security. And it's even worse for those not in a retirement plan, with 88% "not confident". The only good news in the study quoted is that the confidence has been rising in recent years for those in a retirement plan.
Earth Day 2015: These 10 Funds Prove Investors Can Beat The Stock Market By Going Green (Trang Ho, Forbes) Trang Ho has contributed to GEI. Going green is making big green in 2015. The 10 solar and clean energy exchange traded funds on the stock market vaulted anywhere from 6% to a mind blowing 41% year to date.
Triple Top Tuesday – Can Low Volumes Drive Us To New Highs? (Phil Davis, Phil's Stock World) Hat tip to TalkMarkets.
The chart below is how the S&P 500 ETF traded yesterday (Monday) after Friday's big sell-off. For details on what happened Tuesday when the large cap market went down (small caps went up) See GEI's Market Close commentary by Gary: 21Apr2015 Market Close: Markets Close Mixed And Quiet, Large Caps Down Along With Oil, Small Caps Ended Up 0.4 Percent In The Green.
The BoJ's monetary expansion and its impact on the yen (Walter Kurtz, Sober Look) At the end of last October the Bank of Japan announced a large stimulus increase which was followed by a sharp decline in the yen. In 2015, however, even though the extraordinary monthly securities purchases are continuing, the declines have stopped as USD/JPY remains range-bound. Kurtz marvels at this behavior and comments:
Other Economics and Business Items of Note and Miscellanea
How did Alan Turing figure out the Enigma machine? (Quora) The answer is: He didn't figure out the machine. The machine was figured out done by a Polish Cypher Bureau member named Marion Rejewski. What Turing did was to figure out an electro-mechanical scheme to screen transmissions and determine the code in use each day. This was developed and refined by Turing and Gordon Welchman using the machine design determined previously in Poland.
Buttered Coffee Could Make You Invincible. And This Man Very Rich (Bloomberg Business) "Biohacking" is big business for British Columbian Dave Asprey.
‘Corporate Terrorist’ Schwab Cost Me My Kidney: Breakaway Broker (ThinkAdvisor) Richard Rosso tells how he went from being one of Schwab’s top financial consultants to losing a kidney from the stress of an arbitration battle.
Chip Cards Coming to America — Slowly! What You Need to Know! (Money and Markets) This is the next step in improving credit card security.
Baker Hughes Cuts 17% Of Workforce As Oil Slump Ripples Through Economy (Zero Hedge) Hat tip to TalkMarkets. ZH says that the BLS (Bureau of Labor Statistics) is way behind in counting job losses in the oil and gas sector.
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