Archive for the 'Economy' Category
Britain ‘Will Join Euro Before Long’, Says German Finance Minister
November 19th, 2011Via: Telegraph: Wolfgang Schäuble said that, despite the current crisis in the eurozone, the euro will ultimately emerge as the common currency of the entire European Union. He said he “respects” Britain’s decision to keep the pound, but insisted that the survival and eventual stabilisation of the euro will convince non-members to join the currency […]
A Conspiracy of Hogs: The McRib as Arbitrage
November 18th, 2011I have a special relationship with the McRib sandwich. Long ago, I had a friend who used to eat those things and the smell of them turned my stomach. He found my revulsion hilarious and he would taunt me by offering me some of the McRib, or blowing the putrid fumes my way. One time, […]
GE Filed 57,000-Page Tax Return, Paid No Taxes on $14 Billion in Profits
November 18th, 2011Via: The Weekly Standard: General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn’t pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked.
Middle-Class Areas Shrinking in U.S.
November 17th, 2011Via: AFP: The number of middle-income neighborhoods in the United States has dwindled significantly over the past 40 years, as the rich-poor divide deepens across the country, a study released Wednesday showed. In 2007, nearly a third of American families — 31 percent — lived in either an affluent neighborhood or a mainly low-income one, […]
Government Motors: U.S. Boosts Estimate of Auto Bailout Losses to $23.6 Billion
November 17th, 2011Via: Detroit News: The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.’s steep stock decline. In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous […]
For Americans, 80 Is the New 65 When It Comes to Retirement
November 17th, 2011Oh sure. Via: Reuters: When it comes to retirement, many middle class Americans said 80 is the new 65 and plan to delay retirement because of worries over money, according to a new survey. Wells Fargo bank asked 1,500 Americans who earned between $25,000 and $99,999 and ranged in age from 20 into their 70s […]
Fed Now Largest Owner of U.S. Government Debt—Surpassing China
November 17th, 2011Via: CNSNews: At the close of business on Tuesday, the debt of the federal government exceeded $15 trillion for the first time–with the largest single owner of the publicly held portion of that debt being the Federal Reserve. Over the past year, as the Federal Reserve massively increased its holdings of U.S. Treasury securities and […]
Farmland Has Biggest 1-Year Value Jump Since 1980
November 17th, 2011Via: Denver Post: The average value of farmland in several Midwestern and Western states grew 25 percent over the past year in the biggest one-year jump in at least three decades. The increase reported Tuesday by the Federal Reserve Bank of Kansas City, Mo., reflects current low interest rates and a healthy farm economy. But […]
Australia Agrees to U.S. Marine Deployment Plan
November 16th, 2011Via: BBC: Australia has agreed to host a full US Marine task force in the coming years, Prime Minister Julia Gillard has announced at a news conference with US President Barack Obama in Canberra. She said about 250 US Marines would arrive next year, eventually being built up to 2,500 personnel. The deployment is being […]
Northwestern University Researchers Increase Capacity and Decrease Charge Time of Lithium Ion Batteries by Ten Times
November 16th, 2011Via: Northwestern University: Imagine a cellphone battery that stayed charged for more than a week and recharged in just 15 minutes. That dream battery could be closer to reality thanks to Northwestern University research. A team of engineers has created an electrode for lithium-ion batteries — rechargeable batteries such as those found in cellphones and […]
