There will be more wealth confiscation, without a doubt' … Savers and investors face further "wealth confiscation" in Europe as the continent struggles to resolve the single currency's problems, a bank chief has said … European politicians will take the "easy option" of taking money from the rich rather than raising taxes and cutting spending to deal with th...Read More
Neil Macdonald: The 'monarchs of money' and the war on savers … Power Shift: First in a series on the rise of the central bankers and the global imposition of cheap credit … Quietly, without much public fuss or discussion, a new ruling class has risen in the richer nations. These men and women are unelected and tend to shun the publicity hogged by the politicians with whom they...Read More
Generation jobless … "YOUNG people ought not to be idle. It is very bad for them," said Margaret Thatcher in 1984. She was right: there are few worse things that society can do to its young than to leave them in limbo …The International Labour Organisation reports that 75m young people globally are looking for a job. World Bank surveys suggest that 262m young people in emergi...Read More
Global Aging 2013: Rising To The Challenge … Since October 2010, when Standard & Poor's Ratings Services published our last update on the implications of population aging on sovereign credit ratings, the continuing economic and financial difficulties, especially in Europe, have accelerated efforts to improve the sustainability of public finances. The rapid buildup of government debt...Read More
Fisker Spent $660,000 on Each $103,000 Plug-in Car … Fisker Automotive Inc. spent more than six times as much U.S. taxpayer and investor money to produce each luxury plug-in car it sold than the company received from customers, according to a research report. The Anaheim, California-based company made about 2,500 of its $103,000 Karmas before halting production last year, disrupting its plan...Read More
Newsweek/Daily Beast Owner: 'I Wish I Hadn't Bought Newsweek, It Was a Mistake' … The Newsweek/Daily Beast owner, Barry Diller, shared his regrets today on Bloomberg TV: "There are some magazines that have no competition essentially in their field, luxury magazines," the Washington Free Beacon reports Diller said. "Advertisers must advertise in them. But for a news...Read More
There will be more wealth confiscation, without a doubt' … Savers and investors face further "wealth confiscation" in Europe as the continent struggles to resolve the single currency's problems, a bank chief has said … European politicians will take the "easy option" of taking money from the rich rather than raising taxes and cutting spending to deal with th...Read More
Neil Macdonald: The 'monarchs of money' and the war on savers … Power Shift: First in a series on the rise of the central bankers and the global imposition of cheap credit … Quietly, without much public fuss or discussion, a new ruling class has risen in the richer nations. These men and women are unelected and tend to shun the publicity hogged by the politicians with whom they...Read More
Generation jobless … "YOUNG people ought not to be idle. It is very bad for them," said Margaret Thatcher in 1984. She was right: there are few worse things that society can do to its young than to leave them in limbo …The International Labour Organisation reports that 75m young people globally are looking for a job. World Bank surveys suggest that 262m young people in emergi...Read More
Global Aging 2013: Rising To The Challenge … Since October 2010, when Standard & Poor's Ratings Services published our last update on the implications of population aging on sovereign credit ratings, the continuing economic and financial difficulties, especially in Europe, have accelerated efforts to improve the sustainability of public finances. The rapid buildup of government debt...Read More
Fisker Spent $660,000 on Each $103,000 Plug-in Car … Fisker Automotive Inc. spent more than six times as much U.S. taxpayer and investor money to produce each luxury plug-in car it sold than the company received from customers, according to a research report. The Anaheim, California-based company made about 2,500 of its $103,000 Karmas before halting production last year, disrupting its plan...Read More
Newsweek/Daily Beast Owner: 'I Wish I Hadn't Bought Newsweek, It Was a Mistake' … The Newsweek/Daily Beast owner, Barry Diller, shared his regrets today on Bloomberg TV: "There are some magazines that have no competition essentially in their field, luxury magazines," the Washington Free Beacon reports Diller said. "Advertisers must advertise in them. But for a news...Read More
Fed's Esther George: speaking up for middle America … Federal Reserve officials, as a rule, can expect a tough crowd when they visit places like Oklahoma where suspicion of big government runs deep. Esther George, president of the Kansas City Fed, is an exception. As she surveyed the cattle ranchers, energy bosses and other business leaders waiting to hear her speak at an event in El Ren...Read More
Bundesbank declares 'war' on Mario Draghi bond bail-out at Germany's top court. Germany's Bundesbank has issued a devastating attack on the bond rescue policies of the European Central Bank, rendering the eurozone's key crisis measure almost unworkable. The Draghi plan mobilized the ECB as lender of last resort and led to a spectacular fall in borrowing costs across the EMU per...Read More
The great economic experiment of 2013: Ben Bernanke vs. austerity … We rarely get to see a major, nationwide economic experiment at work, but so far 2013 has been one of those experiments … – Washington PostDominant Social Theme: The Federal Reserve and the US government have to work hand-in-hand to resolve this mess.Free-Market Analysis: Here's an interesting article in the...Read More
In 2012, America had the most energy efficient economy in US history. The EIA released new energy data this week showing that the U.S. had the most energy-efficient economy in history last year, based on the amount of energy consumed to produce each real dollar of Gross Domestic Product (GDP). In 2012, it required only 6,990 BTUs of energy (petroleum, natural gas, nuclear and renewables) to produc...Read More
Earth Day and Four Decades of Fear … A vast array of blatherings have accumulated over the years, warning the end is nigh. Earth Day means never having to say "Don't worry." For the environmental Left, the Passover seders may be past, but the plagues are eternal: floods, fires, cyclones, drought, extinctions, pestilence, famines, acid rain, ozone holes, cancer-causing power lin...Read More
Fed's Esther George: speaking up for middle America … Federal Reserve officials, as a rule, can expect a tough crowd when they visit places like Oklahoma where suspicion of big government runs deep. Esther George, president of the Kansas City Fed, is an exception. As she surveyed the cattle ranchers, energy bosses and other business leaders waiting to hear her speak at an event in El Ren...Read More
Bundesbank declares 'war' on Mario Draghi bond bail-out at Germany's top court. Germany's Bundesbank has issued a devastating attack on the bond rescue policies of the European Central Bank, rendering the eurozone's key crisis measure almost unworkable. The Draghi plan mobilized the ECB as lender of last resort and led to a spectacular fall in borrowing costs across the EMU per...Read More
The great economic experiment of 2013: Ben Bernanke vs. austerity … We rarely get to see a major, nationwide economic experiment at work, but so far 2013 has been one of those experiments … – Washington PostDominant Social Theme: The Federal Reserve and the US government have to work hand-in-hand to resolve this mess.Free-Market Analysis: Here's an interesting article in the...Read More