econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



>> Click Here for Historical Wall Post Listing <<

What We Read Today 20 December 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 Monday, Wednesday, and Friday in the late afternoon New York time. For early morning review of headlines see "The Early Bird" published Monday through Friday in the early am at GEI News (membership not required for access to "The Early Bird".).

BECOME A GEI MEMBER - IT's FREE!

Most of this column ("What We Read Today") is available only to GEI members.

To become a GEI Member simply subscribe to our FREE daily newsletter.

Topics today include:‚Äč

  • Treasury Yields Now Approaching Stock Dividends

  • Experimental Vaccine Could Help Tackle Opioid Crisis

  • If You Tip, You Laugh at Commentary About U.S. 'Wage Stagnation'

  • Women and economics

  • What is on the Other Side of the Planet?

  • How the world looked during the last ice age

  • Bitcoin Tumbles From Record in Biggest Slump Since Futures

  • The essential tradeoff in the Republican tax bill, in one chart

  • The Republican tax bill passes Congress — here's how your tax bracket could change in 2018

  • Most Americans Say Trump’s Election Has Led to Worse Race Relations in the U.S.

  • Is Trump Making the Economy Great Again?  Kind Of.

  • We’re still building the wrong kind of homes for renters

  • May Says EU Will Learn It Needs City of London: Brexit Update

  • WikiLeaks recognised as a 'media organisation' by UK tribunal

  • May's Top Cabinet Ally Damian Green Quits Over Porn Allegations

  • Poland risks losing EU voting rights in dispute over reforms to judiciary

  • Swedish Riksbank Takes First Step Toward Exiting Record Stimulus

  • And More

Articles about events, conflicts and disease around the world

Global

  • Bitcoin Tumbles From Record in Biggest Slump Since Futures (Bloomberg)  Lost in the hubbub over the feeding frenzy in cryptocurrencies and related stocks is the original digital coin itself.  Bitcoin was trading at $16,626.42 at 10:25 a.m. in Hong Kong, down about 15% from a record high on Monday. That’s the steepest decline since before futures were introduced on Dec. 10.

U.S.

  • The essential tradeoff in the Republican tax bill, in one chart (The Washington Post)  Republicans are paying for a permanent cut for corporations with an under-the-radar tax increase on individuals.   Republicans are paying for a permanent cut for corporations with an under-the-radar tax increase on individuals.  Senate rules require the Tax Cuts and Jobs Act not to add to the federal deficit after 10 years.  For what happens for individual returns for the 2018 tax year, see the next article.

The bill aims to cut corporate taxes in perpetuity, under the theory that to do anything less would be to create uncertainty for corporations. But to do so and still have the bill not be a money loser after a decade, they need to raise extra funds somewhere.

  • Income tax brackets are set to change for 2018 returns under the Republican tax bill.

  • The bill proposes keeping seven tax brackets, but the income ranges will change.

  • It also eliminates the personal exemption and increases the standard deduction.

Shortly after Trump’s victory last year, voters had less negative expectations for how his election would affect race relations. In November 2016, nearly half (46%) said it would lead to worse race relations, while 25% expected his election to lead to improved race relations (another 26% expected little change).

  • Is Trump Making the Economy Great Again?  Kind Of. (Bloomberg)  Before Trump’s inauguration, the authors picked the best indicators to judge the impact of his policies and determine whether the economy is living up to Trump’s pre-election promises. Now, almost a year later, they return to see if they’re doing great, just all right, or worse.  Beyond gross domestic product growth and better-known figures such as wages and the trade deficit, other metrics worth watching include the percentage of the population on food stamps and the share of prime-age workers in the labor force. With the help of Carl Riccadonna, chief U.S. economist for Bloomberg Economics, they’ve divided the indicators into three groups: those improving, the ones staying about the same and figures that are going in the wrong direction. We’ll also tell you how he expects them to perform in the years ahead.  Three lists below:  Right Direction; Middling Performance; and Wrong Direction.

Right Direction

  • GDP

  • Investment

  • Manufacturing Jobs

  • Labor Force Participation

  • Increased Full-Time Work

  • Food Stamp Decline

Middling Performance

  • Average Hourly Earnings

Wrong Direction

  • Increasing Budget Deficit

  • Trade Deficit

  • We’re still building the wrong kind of homes for renters (The Daily Shot)  Demand for rental homes soared in the years after the recession, as homeownership remained either out of reach, unappealing, or both, for many Americans.  But even as the skyrocketing increases in rental households finally slacken, a new report confirms that the tilt toward constructing rental properties for high-income Americans is leaving far too many renters behind.  More than a quarter of American renters (11 million) spend more than 50% of their income on rent.

american.renters.2004.2017

EU

UK

  • WikiLeaks recognised as a 'media organisation' by UK tribunal (The Guardian)  The definition handed down by the UK information tribunal may assist in Julian Assange’s defense against U.S. extradition on grounds of press freedom.  The United States seeks to prosecute him and disputes his journalistic credentials.

  • May's Top Cabinet Ally Damian Green Quits Over Porn Allegations (Bloomberg)  Damian Green, U.K. Prime Minister Theresa May’s first secretary of state and effective deputy, resigned on the heels of an official investigation about an allegation that pornography was found on one of his parliamentary office computers.  Green, 61, has been a close friend of May since they were at Oxford University, and he is one of her closest political allies. He is the third member of her cabinet to leave office since the start of November.

Poland

  • Poland risks losing EU voting rights in dispute over reforms to judiciary (The Guardian)  The EU is widely expected to trigger a process that could ultimately see Poland stripped of its voting rights in Brussels, with patience wearing thin over reforms that are said to be a threat to the independence of the country’s judiciary.  If a first step in the shape of a formal warning is taken against Poland’s rightwing government on Wednesday, it will be an unprecedented act against a member state and exacerbate a growing sense of crisis over the country’s membership of the bloc.  At issue is a decision to approve legislation giving executive greater control of supreme court and appointing of judges

Sweden

  • Swedish Riksbank Takes First Step Toward Exiting Record Stimulus (Bloomberg)  Sweden’s central bank formally ended a program of bond purchases after almost three years, but pledged support for the nation’s debt market into 2019 in a step designed to ensure a smooth retreat from record stimulus.  In the Stockholm-based Riksbank’s last meeting of 2017, policy makers kept their key interest rate unchanged at minus 0.5%, as expected by analysts. While bond purchases will officially end, the bank said it plans to reinvest as much as 65 billion kronor ($7.8 billion) in returns and front-load investments from maturing debt. The krona rose as much as 0.5% to 9.91 per euro as of 10:42 a.m. in Stockholm.

.

.

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

Click for large image.
treasury.yields.vs.stock.dividends

  • Experimental Vaccine Could Help Tackle Opioid Crisis (R&D)  Researchers from the U.S. Military HIV Research Program at the Walter Reed Army Institute of Research (WRAIR) have found that an experimental heroin vaccine induced antibodies that prevented the drug from crossing the blood-brain barrier in mice and rats.  If the treatment proves viable in humans, it may give people a window so they can overcome their addiction.

  • If You Tip, You Laugh at Commentary About U.S. 'Wage Stagnation' (Forbes)  John Tamny suggests that unreported income increases (such as tips and corporate "perks") account for increases in spendable income over the years  He argues that he official reported incomes that have not grown much for decades are a smaller part of what people actually receive today compared to 20 or 30 years ago.

  • Women and economics (The Economist)  This article reports on work that indicates that economics  has an insidious bias against women.

If this is so it is bad both for women in the profession and for women who might have entered the profession but did not. And it is bad for men in the profession, who are stuck with less impressive colleagues than they might otherwise have and less diverse workplaces.

Click for larger image.

Click for large image.


Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.






Econintersect Behind the Wall









search_box
Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.







Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government




























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved