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“ISIS broadcast its killing of captured American journalist James Foley [note: there is no link to the video – only to a more in depth article about Jim Foley] to show the U.S. what awaits anyone who challenges the Islamic State’s march across Iraq and Syria. Foley’s killing was a blunt and stomach-churning bit of messaging that …
Federal Reserve Bank of New York: Thomas Klitgaard and Preston Mui, August 20, 2014 “The United States has been borrowing from the rest of the world since the mid-1980s. From 2000 to 2008, this borrowing averaged over $600 billion per year, which translates into U.S. spending exceeding income by almost 5.0 percent of GDP. Borrowing fell during the …
CFPB – “Whether you’re one of the millions of workers who pay Social Security taxes or the 50 million retired Americans and dependents who receive benefits, it’s good to keep track of your Social Security benefits. National My Social Security Week takes place August 17 to 23 — the perfect time to take a step toward creating …
Washington Post, Matt O’Brien: “Europe hasn’t recovered, because it hasn’t let itself. Too much fiscal austerity and too little monetary stimulus have, instead, put it more than halfway to a lost decade that’s already worse than the 1930s. It’s a greater depression. And as the latest GDP numbers show, it’s not getting any less so. Indeed, the eurozone as a whole didn’t …
Jake Halpern, New York Times Magazine: Paper Boys: Inside the Dark, Labyrinthine, and Extremely Lucrative World of Consumer Debt Collection: ‘From 2006 to 2009, … the nation’s top nine debt buyers purchased almost 90 million consumer accounts with more than $140 billion in ‘face value.’ And they bought at a steep discount. On average, they paid …
Boyko, Xenia and Rogova, Elena and Roztocki, Narcyz and Weistroffer, Heinz Roland, Market Reaction to Information Technology Investment Announcements in Russian Firms (August 8, 2014). Proceedings of the 20th Americas Conference on Information Systems (AMCIS), 2014. Available at for download at SSRN: http://ssrn.com/abstract=2480622 “This study examines the stock market reaction to announcements of information technology (IT) …
Would tie 2010 as lowest midterm election reading by Jeffrey M. Jones “Twenty-two percent of Americans are satisfied and 76% are dissatisfied with the way things are going in the U.S. at this time. Americans’ satisfaction has been quite stable this year, ranging narrowly between 22% and 25%. The last time a majority of Americans were satisfied …
Jagolinzer, Alan D. and Larcker, David F. and Ormazabal, Gaizka and Taylor, Daniel J., The Information Content of Insider Trades around Government Intervention during the Financial Crisis (August 14, 2014). Rock Center for Corporate Governance at Stanford University Working Paper No. 189. Available for download at SSRN: http://ssrn.com/abstract=2480796 “This paper examines whether insiders at leading financial …
“By law, the Congressional Budget Office (CBO) is required to issue a report by August 15 of each year that provides estimates of the caps on discretionary budget authority in effect for each fiscal year through 2021. Minor adjustments to the caps for 2014 have been made since CBO’s previous report on the topic, which …
CFPB: “You may have heard about virtual currencies like Bitcoin, XRP, and Dogecoin. But what are virtual currencies? What’s this “to the moon!” business on the internet about? And, as a consumer, what risks should you be aware of? While virtual currencies offer the potential for innovation, a lot of big issues have yet to be …
IMF, Bertand Gruss, August 14, 2014. Working Paper No. 14/154. “After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011—and most projections suggest they are not likely to resume the upward trend observed in the last decade. This paper analyzes what this turn in the commodity price cycle may imply for …
“Today, the New York Fed released the Quarterly Report on Household Debt and Credit for the second quarter of 2014. Aggregate debt was relatively flat in the second quarter as housing-related debt shrank, held down by sluggish mortgage originations. But non-housing debt balances increased across the board, with especially strong gains in auto loans. Auto loan balances, …
