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 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.
- BP, Rosneft to Jointly Seek Russian Shale Oil (Reuters, The Moscow Times) Sanctions? What sanctions! Russia needs western technology to extract hard-to-get tight oil out of their shale formations. Although the agreement for the joint venture gives the government owned Rosneft a 51% stake, BP actually is in control because the already company owns 20% of Rosneft.
- Co-Signing a Loan is Risky Business For You, Your Family, Your Heirs, Even the Borrower: More Student Loan Debt Slave Nightmares (Michael Shedlock, MISH’s Global Economic Trend Analysis) Hat tip to John O’Donnell. This is a must read!!
- Can’t pay your tuition? Blame Uncle Sam (Jake Novak, CNBC) Hat tip to Marvin Clark. Student loans are supposed to help students get a college degree. They may do that but the primary use is to enable colleges and university to “game the system to the tune of trillions of dollars in profits“. See also Why are student loan rates up? Blame Treasury yields (Sharon Epperson, CNBC)
- Billionaire Poroshenko declares victory in Ukraine (Laura Smith-Spark, Nick Paton Walsh and Radina Gigova, CNN) Pro-EU Petro Poroshenko declared victory Sunday in Ukraine’s presidential election, following preliminary exit polls that suggested he got 56% of the vote. His leading challenger had already conceded defeat with exit polls indicating that she had received less than 14% of the vote. Splinter candidates divided the remainder. Voting in the two eastern regions, Donetsk and Luhansk, where Russia-supporting separatists have been conducting a wave of violence, was very low, estimated by local officials to be less than 12% of eligible voters. Observers indicated that there were apparently no polling places open in the city of Donetsk where pro-Russia militias are concentrated.
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