Here is a map of the three month change in the Philly Fed state coincident indicators. Forty six states are showing declining three month activity.
This is what a widespread recession looks like based on the Philly Fed states indexes.
Continue reading Philly Fed State Coincident Indicators: Still a Widespread Recession in July
In thinking about economic reform, if you want to contemplate construction techniques outside of “the matrix,” read about the Coral Castle and Nan Madol.
“Treason doth never prosper: what’s the reason? For if it prosper, none dare call it treason.”
~ Sir John Harrington
Continue reading Sibel Edmonds Deposition: Deep Corruption Beneath the Surface
by Lauren Schenkman
A recent analysis of the 2007 financial markets of 48 countries has revealed that the world’s finances are in the hands of just a few mutual funds, banks, and corporations. This is the first clear picture of the global concentration of financial power, and point out the world wide financial system’s vulnerability as it stood on the brink of the current economic crisis.
Continue reading World’s Stocks Controlled by Select Few
by Declan McCullagh
Internet companies and civil liberties groups were alarmed this spring when a U.S. Senate bill proposed handing the White House the power to disconnect private-sector computers from the Internet.
They’re not much happier about a revised version that aides to Sen. Jay Rockefeller, a West Virginia Democrat, have spent months drafting behind closed doors. CNET News has obtained a copy of the 55-page draft of S.773 (excerpt), which still appears to permit the president to seize temporary control of private-sector networks during a so-called cybersecurity emergency.
Continue reading Bill Would Give President Emergency Control of Internet
Related article: Government Control of The Internet in China
With much of the world still mired in recession, the IMF took action to bolster its members’ reserves through an allocation of SDRs, or Special Drawing Rights. The allocation, equivalent to 250 billion USD was made on August 28 and will be followed by an additional, albeit much smaller, allocation of 33 billion on September 9.
With the two allocations totaling roughly 283 billion, the outstanding stock of SDRs would increase nearly ten-fold to total about 316 billion.
Continue reading IMF Injects 283 Billion SDR to Boost World Economy
Continue reading Chart of The Day
By Andrew Ward and David Oakley
For a world first, the announcement came with remarkably little fanfare.
But last month, the Swedish Riksbank entered uncharted territory when it became the world’s first central bank to introduce negative interest rates on bank deposits.
Even at the deepest point of Japan’s financial crisis, the country’s central bank shied away from such a measure, which is designed to encourage commercial banks to boost lending.
Continue reading Bankers Watch as Sweden Goes Negative
By Shannon P. Duffy
Ordinarily, the decision to settle a case while an appeal is pending means giving up the opportunity to set a legal precedent as well as forgoing the chance to win a reversal of any unfavorable published decisions handed down by the lower court.
But a team of defense lawyers fighting to overturn a $24 million verdict have figured out a way to have their settlement cake and eat their jurisprudence, too.
Continue reading After Settlement in Amtrak Case, Opinions Erased From Lexis and Westlaw
Related article When Settlements Remove Decisions from Lexis & Westlaw
Cell Towers Harming Honey Bees
The electromagnetic waves emitted by mobile phone towers and cellphones can pose a threat to honey bees, a study published in India has concluded.
An experiment conducted in the southern state of Kerala found that a sudden fall in the bee population was caused by towers installed across the state by cellphone companies to increase their network.
The electromagnetic waves emitted by the towers crippled the “navigational skills” of the worker bees that go out to collect nectar from flowers to sustain bee colonies, said Dr. Sainuddin Pattazhy, who conducted the study, the Press Trust of India news agency reported.
Continue reading Mobile Phone Tower Threat