This was the quote repeatedly given by a Serbian physicist who, in the late 19th century, tried to make his mark in the U.S. Criss-crossing the eastern part of the country, he delivered these hard-to-believe lectures at various professional society meetings.
Humans have been repeating this inefficient ritual for over 700 years, with the first known origins then in Europe. There sprung lenders and insurers who assessed the relative merits of individual commercial risk. The methods were somewhat more crude versus the resources available to people today,
So far three regional manufacturing PMIs have been flash estimated for January: euro area, U.S., and China. These three also represent the largest global economic weights by many measures, including the purchasing power parity measure.
The U.S. household labor data shows an economy that has morphed dramatically in the past decade, therefore interpreting the headline monthly labor data not a simple matter. Jobs are being added. But the labor force is shrinking.
In a May 2013 testimony to the Joint Economic Council, Federal Reserve Chairman Bernanke stated that the FOMC has made it clear, “it is prepared to increase or reduce the pace of its asset purchases to ensure that the stance of monetary policy remains appropriate as the outlook for the labor market or inflation changes.