Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
In a country beset by increasing wealth and income inequality, few places are more economically disparate than New York City. Part of what drives income inequality in New York is that it’s an extremely attractive place for the global elite to live, or in many cases to park their vast fortunes. On Sunday, The New…
close shareTools BEIJING — China’s annual consumer inflation hit a five-year low in January while factory deflation worsened, underscoring deepening weakness in the economy and heaping pressures on policymakers to inject more stimulus to underpin growth. The risk of deflation is rising for the world’s second-largest economy as a property market downturn and widespread factory…
FILE – In this Nov. 11, 2014 file photo, robots install rivets on a 2015 Ford F-150 truck at the Dearborn Truck Plant in Dearborn, Mich. Cheaper, better robots will replace human workers in the world’s factories at a faster pace over the next decade, pushing manufacturing labor costs down 16 percent, a report from…
Millennials are either impressively optimistic or blissfully ignorant. More than a quarter of them expect to become millionaires in their lifetimes—even as 46 percent of them still live at home with their parents. Those numbers are from Fusion’s Massive Millennial Poll, which surveyed 1,000 Americans aged 18-34. (For full results and methodology, click here.) …
The misery index is the summation of the rate of inflation and the rate of unemployment. It’s name aptly because a high rate of inflation and high unemployment are, well, miserable things to experience. Where is the index today? It’s at an 8 year low. And perhaps more interestingly, today’s Misery level of 6.9% is…
close shareTools DALLAS — The first nationwide strike at U.S. oil refineries since 1980 is spreading to two BP plants in the Midwest. The United Steelworkers union has notified BP Plc. that workers at refineries in Ohio and Indiana will strike late Saturday night, joining a walkout that began this week at nine other refineries….
Copyright 2015 Reuters G20 gives negative outlook for global economy U.S. Politics • February 10, 2015 5:09 AMFebruary 10, 2015 5:09 AM FOLLOW STORY FOLLOW STORY Copyright 2015 Reuters this is necessary because of the different way mobile and desktop/tablet handle the hero unit image Brisbane, Australia November 16, 2014 G20 gives negative outlook…
Photo Richard Cordray, the director of the Consumer Financial Protection Bureau, in Washington.Credit Win Mcnamee/Getty Images In the world of consumer finance, they are chameleons: payday lenders that alter their practices and shift their products ever so slightly to work around state laws aimed at stamping out short-term loans that can come with interest rates…
James Kwak hit the nail(s) on the head about our corrupt tax system that mostly benefits the very rich. Here are three tax avoidance strategies that he brings to light — and says these three tax schemes top his list for the ones most in need of tax reform… 1) Ending the “step-up in basis”…
WASHINGTON, Feb 5 (Reuters) – – The U.S. trade deficit in December widened sharply to its highest level since 2012 as imports rose despite a lower energy bill, which could see the fourth-quarter growth estimate revised down. The Commerce Department said on Thursday the trade deficit jumped 17.1 percent to $46.6 billion, the largest since…