Greeks Must Declare Non-Bank, Personal Assets – Who’s Next? I fully expect a high level of noncompliance with this edict, but being caught in violation of it can have serious consequences. It is also disturbing to note that we have watched this crises unfold in Greece and then watched our legislators prep the legislation for the same sort of governmental action here.
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Items from Mr. Econocobas:
Canada Just Warned That Negative Interest Rates Are Coming
Morgan Stanley’s Christmas Present To 1,200 Of Its Best-Paid Employees: Pink Slips
Items from Professor Preponomics:
U.S. News
Global Joblessness, the Real Number. (Gallup) One Word Sums It Up: Catastrophic.
BCBS of Michigan to Slash $300M in Expenses by 2018 (Beckers Hospital Review) Spoiler Alert and an Article Quote: It’s no surprise given all the recent reports related to the health care industry in the new world of the ACA. “A BCBS document said the insurer has ‘experienced faster admin cost growth and lower membership gains than national, for-profit plans’ since 2010.”
Texas Fails to Protect Property Owners from Civil Forfeiture (Houston Chronicle) Commentary: When civil forfeiture sees a big boom in business (and law enforcement agencies are allowed to convert their collections to profit), we have big problems. This article reports an average annual Texas super-sized “take” of $41.5M.
International News
Here’s How Venezuela’s Economy Has Tanked Under President Maduro (Bloomberg)
Revising the Findings: Japan’s Economy Wasn’t in Recession in the 3rd Quarter (Bloomberg) Question: Another recession or a fragile recovery? The next moves from the Bank of Japan may be revealing.
Anglo American to Cut Work Force by 85,000 in Restructuring (BBC) Commentary: The article reports that some of these jobs may be absorbed by other companies as they sell off assets, although it’s also true that other companies in the same industry arena may be making similar restructuring moves. Time will tell to what degree employees will be able to accomplish “transferability”. In the interim at least, this is a significant dislocation for many.
Personal Economics and Household Finance
Saving Money: Stay Warm Stay Frugal Money Saving Tips to Winterize Your Home (Christian Science Monitor)
Sneaky Ways to Cut Your Home Heating Bills (Popular Mechanics)