Economic Collapse Logistics For The Government – Sent in by B.B.
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Labor Force Participation Rate Dropped to 62.8% In April: 94,044,000 Out
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Items from Professor Preponomics:
US News
Citi: The Fed Would Attempt One Last “Hail Mary” Before Announcing Negative Rates (Business Insider) Interesting thoughts! Excerpt: “…anyone who believes a rate hike isn’t coming until May 2017 has to at least consider the possibility the Fed would need to cut rates before then.”
Gross Calls for Helicopter Money (Mises) Excerpt: “There is a rude end to flying helicopters, but the alternative is an immediate visit to austerity rehab and an extended recession. I suspect politicians and central bankers will choose to fly, instead of die.”
Puerto Rico Debt Crisis Explained: 5 Things to Know About the Default and Congress (International Business Times) Excerpt: “Interested parties include hedge funds and banks, as well as millionaires and billionaires connected to the Koch network and Karl Rove. Other interested parties include debt insurers like Vanguard.”
In Puerto Rico’s Debt Crisis, Shades of Argentina (Wall Street Journal) Excerpt: “Hedge funds that bought billions of dollars of Puerto Rico’s debt two years ago are resisting a broader restructuring in hopes of preserving their rights to be paid off first and in full.” Note: The Wall Street Journal may require sign-on and/or subscription service to access some content.
International News
“We Want Out of this Agony”: What It’s Like to Eat in a Country that’s on the Verge of Collapse (Business Insider) Excerpt: “We are eating worse than before. If we eat breakfast, we don’t eat lunch, if we eat lunch, we don’t eat dinner, and if we eat dinner, we don’t eat breakfast….”
Is Greece Just Weeks Away from Another Collapse? (The Telegraph) Excerpt: “But now the bailout has stalled. For the next slice of cash to be given to Greece, it must pass its so-called ‘first review’. Its creditors must be satisfied Greece’s economy and public finances are on the right track. But two of its creditors, the IMF and the EC, disagree over Greece’s progress.”
Deutsche Bank Unveils the Next Step: “QE Has Run It’s Course, It’s Time to Tax Wealth” (Zero Hedge) Excerpt: “the ECB and BoJ should move more strongly toward penalizing savings via negative retail deposit rates or perhaps wealth taxes. With this stick would also come a carrot – for example, negative mortgage rates.” Warning: Commentary following the article may contain bad language and/or inappropriate avatar images.
Personal Economics and Household Finance
The Simplest, Most Effective Way to Prevent Debit Fraud (Clark Howard) Video Link. Commentary: I’m not sure how I feel about leaving a card with a register staffer while I pump gas, just as I wouldn’t let a card out of my site in a restaurant with wait and service staff, but this is interesting (and somewhat disturbing) that there should be such a surge in debit card data theft for customers using the pay-at-the-pump service.
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