As Bloomberg's Nathan Crooks demonstrates, this is the maximum amount of money one can take out from a Venezuela ATM each day.
It’s really just a matter of time; the working man’s deal with his overseers is half dead already. But there’s still inertia in the system, and even the losers are keeping the faith. Hope dies slowly, after all. Nonetheless, the deal is collapsing and a new wave of robots will kill it altogether. Unless the overseers can pull back on technology – very fast and very hard – the deal that held through all our lifetimes will unwind.
The Department of Labor has awarded Utica, New York, $2 million to teach young refugees how to build drones as part of a summer jobs program. "It was just a population we chose to target," said Alice Savino, executive director of the area Workforce Development Board, warning that "if we don't help [the refugee kids] be productive now, we’re going to pay for it later."
While Saudi Arabia's initial response (economic threats) to Washington's sudden renewed legislative interest in the '28 pages' may or may not have helped add fuel to the fire of those who believe the country has something to hide, it has also tried to have a softer approach to the issue, one that perhaps works the most effectively in Washington: Lobbyists.
"As stock prices rise, the gains are disproportionately distributed to the wealthy. Lower- and middle-income families who are also wealth-poor are less likely to expose their savings to the higher risks of equity markets.... gains in the stock market tend to benefit those in the wealthiest portion of the income distribution, who have better access to and higher participation in these asset markets."
U.S. foreign policy is such a disastrous joke, trying to keep up with it is essentially a full time job. In case you still had any doubt as to why ISIS and other assorted terrorists seemed virtually unstoppable in Syria until Russia became involved, the following piece should clear things up.
Now that all eyes have turned on China eager to find how it will react to a potential Fed rate hike in June or July, the question is whether the sharp Chinese devaluation unveiled overnight, which sent the Yuan to fresh 5 year lows, will be a one-off event, and whether the PBOC will intervene far more aggressively in the offshore CNY market to keep FX market turmoil to a minimum. According to at least one person, the answer is no.
Fed policies are directly responsible for ballooning the systemic risk in the financial and socioeconomic landscape. Not just pensions but actual individual retirees are facing the very same dilemma. For those lucky enough to still have a nest egg after the last two bubble crashes they are forced to venture further out onto the risk continuum. But there must be some upside to the ZIRP policies to offset the almost unmanageable amount of resultant risk, right? I mean these policies are meant to help the average American not hurt them, correct??
Continuing deceleration of population growth offset by rate cuts incentivizing ever greater debt loads (with continually underperforming GDP) was the central banks only play. And now as population growth and decelerating demand really begin to wane...the playbook is basically exhausted save for one play...simply print money with which to buy and "permanently retire" those assets. Think Treasury's, think MBS, think equity's...think anything that can be digitally created and digitally destroyed all to perpetually shrink the outstanding float (think perpetual short squeeze). How long this can maintain asset values northward march in the face of the populations southward divergence is anybody's guess.
Following Monday's visa snub by Merkel, Turkey's president said he would not take any steps regarding the implementation of migrant readmission until progress was made on visa liberalization. He also said funds that the EU had promised to pay Ankara for taking back refugees had not been paid. Turkey added it is not worried if a decision cannot be reached, with Ankara’s new EU affairs minister saying that the EU was not the "sole option."
France may go dark tomorrow, but for residents of downtown Seattle elevators ground to a halt and lights went out across downtown Seattle late Wednesday morning as a major power outage struck. According to Komo News, the outage struck at about 11:30 a.m. The cause of the disruption was an equipment failure at Massachusetts Street Substation and was expected to last about two hours, according to Seattle City Light.