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What We Read Today 05 October 2017

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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Topics today include:

  • Earning Power of an Education

  • For-Profit Schools Get State Dollars For Dropouts Who Rarely Drop In

  • Where Alternative School Enrollment May Signal Problems

  • 5 Tips For A Lower Heating Bill

  • Elastic Glue Can Seal Internal Wounds in One Minute

  • Effects of Harvey Compared to Katrina

  • American defense reality doesn't match our accepted mythology

  • The One Fed Choice That Would Really Spook The Bond Market

  • White House rules out forgiving Puerto Rican debt

  • How We Think About the Deficit Is Mostly Wrong

  • More Upside for Equities? CPLIX’s Grant Makes The Case

  • Corporate Debt Hits Bubble Level

  • And More

Articles about events, conflicts and disease around the world


“The diffusion of advanced military technology and the means to manufacture it have accelerated. Capabilities in which the United States once enjoyed a monopoly (e.g. precision munitions and unmanned systems) have now proliferated … to virtually all U.S. adversaries in short order; Nations such as China and Russia have made concerted efforts to out pace and counter the military — technological advancements of the United States.”

  • The One Fed Choice That Would Really Spook The Bond Market (Bloomberg)  In the eyes of Rick Rieder, the global chief investment officer of fixed-income at BlackRock Inc., the bond market knows that the Federal Reserve is bigger than just one person.  Unless that person happens to be John Taylor.

  • White House rules out forgiving Puerto Rican debt (The Hill)  The White House threw cold water on the prospect of forgiving Puerto Rico's debt days after President Trump floated the idea as a way to help the island deal with widespread damage from Hurricane Maria.  When asked about Puerto Rico's more than $70 billion in debt, White House press secretary Sarah Huckabee Sanders said that the best thing for the island will be for it to use the normal process set up to deal with its debt.

  • How We Think About the Deficit Is Mostly Wrong (Stephanie Kelton, The New York Times)  SK has contributed to GEI.  Stephanie is opposed to the Trump tax cut plan, but not because it cuts taxes.  She argues that, as the cuts are distributed,  the money is not left in places that will grow the economy.  She says that deficits are not bad per se but if not spent on productive things like infrastructure and healthcare do not strengthen the economy.

  • More Upside for Equities? CPLIX’s Grant Makes The Case (Calamos Investments)  Describing himself as “still a bit surprised at how cautious and bearish some investors remain,” Calamos Senior Portfolio Manager Michael Grant says, “This is not normally the mood in which bull markets end.”  He sees some factors that indicate the bull market may continue (as in the first graph below) and others that cause concern (like second graph).

Click for larger image.

Other Scientific, Health, Political, Economics, and Business Items of Note - plus Miscellanea

  • 5 Tips For A Lower Heating Bill (Realtor Mag)  Keeping a home warm during the colder months of the year can prove to be expensive. With energy costs on the rise, many households are facing higher energy bills each year.  ‚Äč, which provides "Cost Guides" of estimates to common household remodeling projects, highlights five projects to help increase a home’s energy efficiency and keep utility bills lower. ( also provides cost estimates below of the projects listed.)  Here is the list:

  1. Find unorthodox heat sources

  2. Add extra insulation

  3. Take care of your furnace

  4.  Make the switch to gas

  5. Complete an energy audit

  • Elastic Glue Can Seal Internal Wounds in One Minute (R&D)   Biomedical engineers from the U.S. and the University of Sydney have developed a new glue that is ideal for sealing wounds in body tissues that continually expand and relax, including lungs, hearts and arteries.  The glue—dubbed MeTro—can also work on internal wounds that are often in hard-to-reach areas and usually require staples or sutures due to surrounding body fluid hampering the effectiveness of other sealants.  The glue includes a built-in degrading enzyme that can be modified to determine how long the sealant lasts in order to allow adequate time for the wound to heal.

Click for large image.

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