Archive for the 'Economy' Category
To Understand America’s Neofeudal Economy, Start with Extortion
August 28th, 2018Via: Of Two Minds: Let’s spin the time machine back to the late Middle Ages, at the height of feudalism, and imagine we’re trying to get a boatload of goods to the nearest city to sell. As we drift down the river, we’re constantly being stopped and charged a fee for transiting one small fiefdom […]
Japan Wants Flying Cars Within a Decade
August 26th, 2018Via: Bloomberg: Japan is making a push to develop flying cars, enlisting companies including Uber Technologies Inc. and Boeing Co. in a government-led group to bring airborne vehicles to the country in the next decade. The group will initially comprise 21 businesses and organizations, including Airbus SE, NEC Corp., a Toyota Motor Corp.-backed startup called […]
A Milestone in Afghanistan
August 22nd, 2018Via: Ron Paul Institute: Sometime late next year, possibly as early as September, news crews will gather in Afghanistan for a unique event: To interview an American serviceman or woman who was not born when the war they are fighting began. He or she will not remember 9/11, and will have grown up with the […]
Bank of England Chief Economist Warns on AI Jobs Threat
August 22nd, 2018Via: BBC: The chief economist of the Bank of England has warned that the UK will need a skills revolution to avoid “large swathes” of people becoming “technologically unemployed” as artificial intelligence makes many jobs obsolete. Andy Haldane said the possible disruption of what is known as the Fourth Industrial Revolution could be “on a […]
The Stock Market’s Latest Sell Signal Has Happened Only 5 Other Times Since 1895
August 22nd, 2018Via: Marketwatch: The “Sound Advice Risk Indicator” … the brainchild of Gray Cardiff, editor of the Sound Advice newsletter, is derived from the ratio of the S&P 500 SPX to the median price of a new U.S. house. For the first time since the late 1990s, and for only the sixth time since 1895, this […]
U.S. Special Forces Soldier Charged with Smuggling 90 Pounds of Cocaine from Colombia to Florida
August 22nd, 2018Woopsee. Via: NBC: A decorated Special Forces soldier was arrested Monday for attempting to smuggle nearly 90 pounds of cocaine from Colombia into the U.S. on a military airplane, according to two defense officials. Army Master Sgt. Daniel Gould, assigned to the 7th Special Forces Group, was arrested after Drug Enforcement Administration agents found 40 […]
Venezuela, Gallery: Stacks of Nearly Worthless Cash Required to Buy Common Items
August 17th, 2018I’ve been teaching my children about inflation, fiat currencies and the end result of the scam. This photo gallery is excellent for that purpose. Via: Reuters: Jittery Venezuelans on Friday rushed to shops and formed long lines in preparation for a monetary overhaul that will remove five zeros from prices in response to hyperinflation that […]
Uncle Sam Wants You: Treasury Depends More on Domestic Bond Buyers
August 17th, 2018Mmm hmm. Keep in mind, the Fed can simply monetize the debt, if enough suckers/bond buyers can’t be found. This is similar to check kiting, but since it involves trillions of dollars, they came up with a more innocuous sounding term for the practice: Open Market Operations. Via: Wall Street Journal: The U.S. government has […]
Turkey’s Lira Weakens More than 6 Percent on Threat of More U.S. Sanctions
August 17th, 2018Via: Reuters: Turkey’s battered lira weakened more than 6 percent against the dollar on Friday, after a U.S. warning that Ankara should expect more economic sanctions unless it hands over the detained American evangelical pastor Andrew Brunson. It has lost nearly 40 percent of its value against the dollar this year, hit by both the […]
Inflation: Venezuela Will Cut Five Zeros from Currency
August 16th, 2018Ah yes, ye ole Zimbucks solution: Via: WRAL: Faced with nearly incomprehensible inflation — 32,714 percent as of Wednesday — Venezuelan officials thought they had a solution: They changed the color of the bank notes and increased their denomination. Then they said they would lop off three zeros. And when that didn’t seem enough, they […]
