Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
The mental effects of long-term unemployment could make you less confident on the job hunt. (AP Photo/Matt Rourke) Long periods of unemployment drain our bank accounts and weaken the economy. New research suggests extended joblessness could also dampen our personalities. And that can make it harder to find more work. A study published this month in…
Photo Charles Constance, 53, has been unable to find steady work. Until recently, he and his 9-year old son, Pablo, lived at a homeless shelter in New Orleans. Credit William Widmer for The New York Times The safety net helped keep Camille Saunders from falling, but not Charles Constance. The difference? Ms. Saunders has a…
While the world’s attention is glued to events in Greece, the real action continues to evolve quietly thousands of kilometers east, in China, where the near record surge in new loans remains unable to offset the dramatic slowdown in shadow banking issuance. And while China’s bubble-chasing, animal spirits have recently reoriented themselves from real estate…
Remember how workers were supposed to retire and open up higher positions and jobs for young people to move in to? That’s not happening because retirement is basically dead! Instead we’ll get grayternships, where older workers who would normally have retired now will get transformed in to bankers who I AM SURE will do trustworthy…
It’s a NIRP world and you are either in it, or are determined to lose the currency wars. And hours ago, the world’s oldest central bank, that of Sweden, announced that it too would join its NIRP peers in an attempt to preserve its currency’s fighting power in the global currency wars which make a…
article start Americans saved at the pump last month as gasoline prices fell to levels last seen in 2009. But where did that money go? Thursday’s retail-sales report from the Commerce Department didn’t contain many answers. Overall sales fell in January for the second straight month, largely due to a 9.3% decline in sales at gas stations….
One of President Obama’s top economic advisers says the rest of the world may have too much faith in the U.S. recovery. “If your economic plan is to count on exports to the U.S. [to produce growth], that’s not a plan that I would support,” said Jason Furman, who heads the President’s Council of Economic…
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….