Plunge in interbank lending: The straw that broke the Fed’s back

Plunge in interbank lending: The straw that broke the Fed’s back

By Mike “Mish” Shedlock Interbank lending took a historic dive. Readers ask “What’s happening?” Let’s investigate. Note: The led-in chart in this article is inaccurate. For details please see Interbank Loan Series Update: Message From “Fred” However, the message that follows, still applies. Here is a better chart to reflect on. What’s going on? Fed Tightening […]

12,000 retail store closings expected in 2018, following 9,000 in 2017

12,000 retail store closings expected in 2018, following 9,000 in 2017

From Technocracy News Disruption is the most prominent meme in 2018, as evidenced by retail carnage at all levels. Should the Internet also suffer disruption in the future, the retail infrastructure will be found to be missing. In the meantime, jobs will be shed in record numbers. ⁃ TN Editor Retailers are bracing for a […]

Ports of entry in Arizona face infrastructure and staffing challenges

Ports of entry in Arizona face infrastructure and staffing challenges

By Andrea Jaramillo Valencia / Cronkite News From a farm or a maquila in Sonora, Mexico to a supermarket store in Chicago, the journey of products coming from Mexico is a long, sometimes slow one. But according to border experts and officials, it’s during customs inspections at the border where the process gets delayed the most […]

Manufacturing jobs dry up in Southern Illinois

Manufacturing jobs dry up in Southern Illinois

By Benjamin Yount / Heartland Institute Honeywell International Inc., a U.S. producer of consumer and commercial goods, announced it will indefinitely close the Honeywell Uranium Hexafluoride Processing Facility in Metropolis, Illinois in the first quarter of 2018, laying off at least 170 employees and 100 contractors. The Processing Facility, also known as the Honeywell Metropolis […]

S&P declares Venezuela in ‘selective default’

S&P declares Venezuela in ‘selective default’

Standard & Poor’s declared Venezuela in “selective default” on Monday, after it failed to make $200 million in payments on its global bonds, becoming the first credit ratings agency to do so. The agency said it acted after a 30-day grace period had passed on payments on two bonds. “We have lowered two issue ratings […]

Manufacturing production unexpectedly fizzles: No hurricane bounce

Manufacturing production unexpectedly fizzles: No hurricane bounce

By Mike “Mish” Shedlock Industrial production in September rose 0.3% vs an expected gain of 0.2%, but the strength dies there. Economists expected a rebound of 0.4% in manufacturing, led by autos, but the gain was an anemic 0.1%. MarketWatch reports Industrial production climbs 0.3% in September in face of hurricane headwinds. What happened: Most industries […]

New York’s clean energy mandates could cost $1 trillion, study says

New York’s clean energy mandates could cost $1 trillion, study says

By Tim Benson / Heartland Institute New York’s Clean Energy Standard (CES), a renewable energy mandate, could cost the state’s ratepayers and businesses close to $1 trillion over the course of the program. That’s the conclusion of a new study from the Manhattan Institute for Policy Research, by Jonathan A. Lesser, president of Continental Economics. The Clean […]

Median incomes rise for the first time since Great Recession

Median incomes rise for the first time since Great Recession

Median household incomes were higher in 2016 than ever before, surpassing a record set nearly two-decades ago in 1999, according to U.S. Census Bureau data released Tuesday. Those in America’s middle class earned an average of $59,039 in 2016, up nearly $1,000 from the 1999 high of $58,655. The figures for 2016 mark the second […]

How a tiny portion of the world’s oceans could help meet global seafood demand

How a tiny portion of the world’s oceans could help meet global seafood demand

By Halley Froehlich, Postdoctoral Scholar, National Center for Ecological Analysis and Synthesis, University of California, Santa Barbara and Rebecca Gentry, Ph.D. Candidate, University of California, Santa Barbara. Pike Place Market, Seattle. Doug Kerr, CC BY-SA Seafood is an essential staple in the diets of people around the world. Global consumption of fish and shellfish has […]

How middle-class Europeans fare under the welfare state

How middle-class Europeans fare under the welfare state

By Daniel J, Mitchell / FEE ccording to progressives like Bernie Sanders, European nations have wonderfully generous welfare states financed by high tax rates on the rich. They’re partly right. There are very large welfare states in Europe (though I wouldn’t use “wonderfully” and “generous” to describe systems that have caused economic stagnation and high levels of unemployment). But […]

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