Sent in by G.P. – Fed Official Says Gold Standard Touted By Cruz Is ‘Unworkable’ “Doesn’t provide stability” is the answer given. I can sort of see that too. To just map the current money supply onto physical gold would push the price of physical gold into astronomical numbers simply because of all the free printing that has gone on in the last 30 years.
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How Many More Recession Confirmations Do You Need? Yep. Every time I buy groceries, I am reminded that this is not a recovery. Sent in by J.Q.
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Items from Professor Preponomics:
80M U.S. Jobs at Risk from Automation (Market Watch)
Downsizing the Federal Government: Housing and Urban Development (Cato Institute)
The Stench of Freddie Mac is Back and the Crony Capitalist Thievery is Back (Contra Corner)
63% of Small Businesses Report Higher Insurance Premiums (Washington Examiner)
U.S. Records $136.5B Budget Deficit for October 2015 (Washington Post)
Obama’s Big Ticket Close Out During His Last Presidential Year (Washington Post)
Oil Slumps 4% (Reuters)
A Chinese-Made Buick? (Market Watch)
China’s Troubled Credit Accounts Swell to $4T Yuan (Bloomberg) Commentary: article contains a good explanation of the term “evergreening” meaning that bad debt may be under reported.
Chinese Investment Company to Buy Texas Oil Fields for 1.3B (CNBC)