The Robots are Coming for White Collar Jobs

Yves here. Bad enough having to worry about offshoring eating into your employment prospects and compensation level. Alan Blinder, in Senate testimony in 2007, had argued that up to 29% of US jobs were “offshorable,” including many service industry positions. And now this…. From Unconventional Economist, who has previously worked at the Australian Treasury, Victorian Treasury […]

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Argentina 'to talk with Paris Club over $9.5bn debt'

Argentina will make an offer to members of the Paris Club on Monday to renegotiate the terms of some $9.5bn of debt it still owes to the group of creditor nations, which includes the UK. Talks on the debt, which Argentina stopped servicing as part of its massive default in 2002, have been stalled for […]

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How bank reserves make the gap between deposits and loans disappear

Earlier this week, CNN Money ran a story on JPMorgan’s quarterly results. Instead of focusing on the earnings, the author’s (Stephen Gandel) discussed the fact that JPMorgan’s loan-to-deposit ratio (LTD) hit a new low. While JPMorgan’s LTD is particularly low, the bank is by no means unique. As discussed earlier (see post), LTD in the US […]

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As Goes California, So Goes America — And California Isn't Looking Good

The housing recovery we’ve seen in the past couple of years has largely been driven by the West Coast.   Home prices in California plunged 42% from their March 2008 peak during the downturn, and then rebounded 36%. Prices surged not only because of the extreme drop in prices during the downturn, but also because […]

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THANKS CHINA!

The government signs people up for welfare, gives ‘em food stamps, free cash, free housing, free healthcare, free phones, free transportation. Over 100 million people are on welfare alone. And 12 million on disability, and 30 million union government drones (soft welfare), and all the pensions. It’s called “stimulus” by Obama and the liberal progressive […]

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The Hows and Whys of Gold Price Manipulation

The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new […]

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Davos Globalization Defenders Fight to Show 2014 Not 1914

Davos, the spiritual home of globalization, is having to defend its vision. As the Swiss ski resort prepares to host its next who’s who of decision-makers on Jan. 22-25, the World Economic Forum’s abiding belief that “improving the state of the world” is compatible with closer integration has taken a beating. The financial crisis that […]

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Gap between rich and poor the biggest threat to global economy – World Economic Forum

Growing income inequality is the biggest risk the world may face within the next 10 years. It has already squeezed the middle class in both developed and emerging economies, the World Economic Forum (WEF) warns. The report, compiled with the help of over 700 global experts, warns against the chronic gap between the incomes of […]

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Bernanke Says QE Works While Posing No Immediate Bubble Risk

Federal Reserve Chairman Ben S. Bernanke defended quantitative easing, saying it has helped the economy and shows no immediate sign of creating a bubble in asset prices. “We don’t think that financial stability concerns should at this point detract from the need for monetary policy accommodation which we are continuing to provide,” he said today in Washingtonat a […]

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SWOT Analysis: Gold Analysts Most Bullish in a Year

Every week, our investment team reviews a variety of sources to formulate a summary of the top events in the gold, resources, and emerging markets. The results are categorized in terms of strengths, weaknesses, opportunities and threats. We believe this SWOT model helps investors make informed decisions about their gold and gold stock investments. For […]

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