Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
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…
Barclays plans to offer apprenticeships in banking to people 50 and older by the end of the year. That’s a rational response to an aging workforce and the impact of demographics in developed economies, and one that more companies around the world will need to replicate. It’s great news for those who find themselves unemployed…
Average wages stagnate after 35. (bigstockphoto) Ah, your 20s: A decade of self discovery, smartphone dating and shopping for IKEA coffee tables — right? A new report from the Federal Reserve Bank of New York sends a more sobering message to millennials: Your first 10 years in the labor market likely shape your lifetime earning…
Car buyers are borrowing more money than ever to finance the purchase of new and used vehicles. Borrowing terms are growing longer and credit standards more relaxed. Delinquency rates are rising. More and more capital is being raised on securities markets to lend to borrowers with subprime credit. Is an automotive credit bubble forming, similar…
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…
The best virtual plant-growing app seed capital can buy? (Ice Water Games) Soon, all you’ll need to enjoy the exciting experience of watching plants grow is an app. At least, that appears to be the idea behind Viridi, a project in development from Ice Water Games. The developer describes Viridi as “a meditative potted plant app”…
Lax U.S. rules and real estate industry’s no-questions-asked approach make it easy for dodgy characters to funnel wealth through high-end Manhattan apartments. One day during Chen Shui-bian’s second term as Taiwan’s president, several people lugged what a witness described as “five or six” fruit boxes into the presidential residence in Taipei. Inside the crates, the…
One57, on West 57th Street, where a penthouse is reportedly in contract for $90 million. (Photo: Rendering Courtesy of Extell Development) Additional reporting by Michael Hudson of the International Consortium of Investigative Journalists. PART I. THE BUYER The buyer, an Italian, was in town for a week, with a million or so dollars to spend….
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…