Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list is about soaring unemployment in Europe and the Blockupy 2013 movement …….. and the last article discusses Nouriel Roubini’s call for $1,000 gold.
- Eurozone jobless rate hits record high as Blockupy hold anti-austerity protests – as it happened (Graeme Weardon and Katie Allen, The Guardian) For Europe, is this the Greatest Depression? See also GEI News.
- Report Card on Social Security Trust Fund Coverage (Trudy Lieberman, Columbia Journalism Review) An F for the headlines; a C- for the stories
- ‘Truly Abysmal’: Europe Needs Overhaul, EU Commissioner Says (Der Spiegel)
- Our choice of heroes reveals much about America (Fabius Maximus) Fabius Maximus contributes to Global Economic Intersection.
- Hindenburg Omen Creator: ‘I’m Hunkering Down for Possible Rough Ride’ (Steven Russolillo, The Wall Street Journal, 03 June 2013) See also Hindenburg Omen Instablog started by this Econintersect editor and now maintained by Albertarocks, an occasional Global Economic Intersection contributor. A useful excerpt from Albertarocks’ TA Discussions blog defines the historical record for the HO indicator:
Major Crash – 27% probability
Selling panic of at least 10-15% – 39% probability
Sharp decline of at least 8-10% – 54% probability
Meaningful decline of at least 5-8% – 77% probability
Mild decline of at least 2-5% – 92% probability
The HO signal is an outright miss – 7.7% probability (one out of 13 times)
- Americans Won’t Like Hearing The Real Reason That Silicon Valley Is Pushing So Hard For Immigration Reform (Walter Hickey, Business Insider) The problem is that foreign STEM majors are simply whipping American students academically and will work for less. It’s a question of low quality being priced out of the market.
- Financial Sector: Bigger and More Profitable Than Ever (Jesse’s Cafe Americain, 01 June 2013)
- How AARP helps prevent Medicare for Everyone (Rodger Malcolm Mitchell, Monetary Sovereignty) Rodger is a contributor to Global Economic Intersection.
- Is France’s Economy a Surprise Threat to Eurozone? (Marlene Y. Satter, AdvisorOne)
- After the Gold Rush (Nouriel Roubini, Project Syndicate) $1,000 gold in 2015? See also John Katz’s article today.
