Archive for the 'Economy' Category
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 […]
Cost to Dismantle First Nuclear Powered Aircraft Carrier: “Up to $1.5 Billion”
August 12th, 2018Via: Popular Mechanics: Six years after decommissioning USS Enterprise, the world’s first nuclear-powered aircraft carrier, the U.S. Navy is still figuring out how to safely dismantle the ship. The General Accounting Office estimates the cost of taking apart the vessel and sending the reactors to a nuclear waste storage facility at up to $1.5 billion, […]
Ford Workers Using Exoskeleton Vests at 15 Auto Plants in Seven Countries
August 12th, 2018Via: CBS: Ford Motor Company will unveil its plan Tuesday to use wearable technology to lighten the load on some of its human workers. Exoskeleton vests are being introduced in 15 auto plants in seven countries, and the business of providing technology to augment the human workforce is expected to boom in the coming years. […]
MONSANTO ORDERED TO PAY $289 MILLION IN WORLD’S FIRST ROUNDUP CANCER TRIAL
August 10th, 2018Via: Reuters: A California jury on Friday found Monsanto liable in a lawsuit filed by a man who alleged the company’s glyphosate-based weed-killers, including Roundup, caused his cancer and ordered the company to pay $289 million in damages. The case of school groundskeeper Dewayne Johnson was the first lawsuit to go to trial alleging glyphosate […]
