Archive for the 'Economy' Category

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The Secret on the Ocean Floor

February 19th, 2018

Via: BBC: In the summer of 1974, a large and highly unusual ship set sail from Long Beach in California. It was heading for the middle of the Pacific where its owners boasted it would herald a revolutionary new industry beneath the waves. Equipped with a towering rig and the latest in drilling gear, the […]

L.A. County’s Homeless Problem Is Worsening Despite Billions from Tax Measures

February 19th, 2018

Build the sprawling San Angeles favelas with autonomous construction drones! No? Via: Los Angeles Times: Los Angeles County’s homeless population is increasing faster than the supply of new housing, even with the addition of thousands of beds in the last two years and millions of dollars beginning to flow in from two ballot measures targeting […]

San Francisco Streets More Filthy Than Third World Slums

February 19th, 2018

Via: NBC: How dirty is San Francisco? An NBC Bay Area Investigation reveals a dangerous mix of drug needles, garbage, and feces throughout downtown San Francisco. The Investigative Unit surveyed 153 blocks of the city – the more than 20-mile stretch includes popular tourist spots like Union Square and major hotel chains. The area – […]

Brazil Military Takes Control of Rio de Janeiro’s Security

February 16th, 2018

Via: Bloomberg: Brazil’s military will take control of public security in the state of Rio de Janeiro as a wave of violence rattles the population and dominates media coverage ahead of this year’s presidential election. President Michel Temer will issue a decree on Friday putting the military in charge of Rio’s security forces, his press […]

Whistleblower: VIX Being Rigged

February 13th, 2018

Via: MarketWatch: One of the most popular measures of volatility is being manipulated, charges one individual who submitted a letter anonymously to the Securities and Exchange Commission and the Commodity Futures Trading Commission. The letter makes the claim to regulators that fake quotes for the S&P 500 index SPX, +0.26% are skewing levels of the […]

Total U.S. Household Debt Soars to Record Above $13 Trillion

February 13th, 2018

Via: CNBC: The American consumer is loading up on debt. Total household debt rose by $193 billion to an all-time high of $13.15 trillion at year-end 2017 from the previous quarter, according to the Federal Reserve Bank of New York’s Center for Microeconomic Data report released Tuesday.

German Court Rules Facebook Use of Personal Data Illegal

February 12th, 2018

Via: Reuters: A German consumer rights group said on Monday that a court had found Facebook’s use of personal data to be illegal because the U.S. social media platform did not adequately secure the informed consent of its users. The verdict, from a Berlin regional court, comes as Big Tech faces increasing scrutiny in Germany […]

The Economist: It Appears Market Conspiracy Theorists Were Right

February 12th, 2018

I wasn’t going to post this. It might have been newsworthy 20 years ago, but since people are submitting it, here you go. Via: ZeroHedge: Three new recently published scientific papers seem to confirm what many have claimed for years: the “efficient markets” are not only inefficient – from an informational standpoint – they are […]

Foxconn Unit to Cut Over 10,000 Jobs as Robotics Take Over

February 10th, 2018

Via: Nikkei: Foxconn’s panel arm Innolux is planning to slash more than 10,000 jobs this year as part of the company’s aggressive efforts to increase the use of automation in manufacturing, said Honorary Chairman Tuan Hsing-Chien on Tuesday. “We will reduce our total workforce to less than 50,000 people by the end of this year, […]

Russian Nuclear Scientists Connect Airgapped Supercomputer to Internet to Mine Cryptocurrencies

February 9th, 2018

*har* Via: BBC: Russian security officers have arrested several scientists working at a top-secret Russian nuclear warhead facility for allegedly mining crypto-currencies. The suspects had tried to use one of Russia’s most powerful supercomputers to mine Bitcoins, media reports say. The Federal Nuclear Centre in Sarov, western Russia, is a restricted area. The centre’s press […]

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