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What We Read Today 01 October 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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Articles about events, conflicts and disease around the world




  • Unemployment Payouts More Than Double in North Dakota (The Wall Street Journal)  n the second quarter of the year, personal earnings declined in five states, according to a Labor Department report out on Wednesday. In three of those–North Dakota, West Virginia and Wyoming–that was largely due to drop-offs for the mining industry, a category that includes oil and gas extraction, coal and support services. It was also the second straight quarterly drop for earnings in those states.
  • Here's the good news (Business Insider)  The good news for the U.S. economy is consumption (2/3 of GDP), up 3% over last year.  This offsets the contraction in manufacturing (12% of GDP).  Econintersect:  But is this sustainable?  Personal income is up more than personal which is good.  But some other data weighs on prospects.  See Headline Retail Sales Mixed In August 2015 and July 2015 Wholesale Sales Remain In Contraction.
  • Gunman opens fire at Oregon community college, killing 7  (Associated Press, MSN News)  The shooting happened at Umpqua Community College in Roseburg, about 180 miles south of Portland. The local fire district advised people via Twitter to stay away from the school.  State police Lt. Bill Fugate told KATU-TV that seven to 10 people were dead and at least 20 others hurt.


  • Bank of England head warns insurers, investors, markets of mounting climate risks (E&E Publishing)  For several years, with an eye to future damage, the Bank of England's governor, Mark Carney, has spoken of how climate change and government action in response to accumulating greenhouse gases could punish investors, flummox the energy sector, distort financial markets and crimp the global economy.  Last night in London, through a wide-ranging speech at Lloyd's of London, the specialty insurance company, Carney suggested that U.K. insurers keep an eye on long-term climate hazards, too.


  • How Russian President Vladimir Putin Will Bankrupt His Country (The Street)  Econintersect:  Russia may have fiscal and monetary problems but bankruptcy cannot be one of them.  Some Russian companies which have foreign currency denominated debt may have problems (and some could go through bankruptcy) but the government debt is largely denominated in rubles.  Russia creates rubles and can never run out.  There are devaluation and inflation risks, but never bankruptcy.
  • Putin's spokesman explained the Syria bombing campaign in a sentence (Business Insider)  Russia is in Syria to support the Assad government.  Period.  Russian President Vladimir Putin's spokesman has given an explanation for how the government is deciding where it conducts airstrikes in Syria.  Dmitry Peskov said Russia was targeting ISIS and "other groups,"telling reporters

"These organizations are well known and the targets are chosen in coordination with the armed forces of Syria."

Other Economics and Business Items of Note and Miscellanea

  • Is Network Level Ad Blocking Extortionate? (Seeking Alpha)  Blocking ads at the wireless network level is a new wrinkle in the ad blocker controversy that may further erode advertising revenue for companies such as Google.
  • 21 signs you may get the boot (Business Insider, MSN Money)  Number 1 sign is a bad performance review.and number 21 is a recent merger but you have little info  Follow the link for the other 19..
  • 12 Hospitals You Might Want to Avoid (Consumer Reports, MSN Health)  Every year more than twice the number of people die from infections incurred during a hospital stay than are killed in in car crashes. An estimated 648,000 people in the U.S. develop infections during a hospital stay, and about 75,000 die with one of those infections annually, according to the Centers for Disease Control and Prevention.  The twelve lowest rated hospitals are listed in this article.  The full ratings information for all U.S. hospitals is available here (subscription required).

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