economics News of 07/18/19
An Explosion In Philadelphia Could Make Your Fourth Of July Road Trip A Lot More Expensive
A fire at the largest refinery on the U.S. East Coast sent gasoline prices soaring, threatening to raise pump prices from Delaware to Maine just as American drivers get set to head off on vacation. Futures jumped 3.9%, the most in more than three ...
A Beautiful Duopoly
Matt Oguz Contributor Matt Oguz is founding partner at venture/science, a San Francisco-based quantitative investment firm. More posts by this contributor Enrico Fermi and the future of venture capital ...
This Closely Watched Economic Indicator Is Suddenly Signaling A Recession Ahead
(Bloomberg) — A closely watched section of the Treasury yield curve on Friday turned negative for the first time since the crisis more than a decade ago, underscoring concern about a possible economic slump and the prospect that the Federal ...
India’S Main Opposition Party Is Promising A Basic Income For The Poor. Can It Work?
On Monday, the man leading India’s main opposition announced that his party would guarantee every poor person in India a minimum income if it wins elections scheduled for this spring. Rahul Gandhi’s surprise promise was welcomed by ...
‘We’Re Flying Blind.’ The Shutdown Is Making It Harder For Economists To Understand The Shutdown
The Congressional Budget Office on Monday delivered its estimated economic cost of the five-week partial government shutdown: $11 billion dollars, with $3 billion in permanent economic losses. Those numbers are now being leveraged for partisan ...
Another Day, Another Reversal In The Stock Market
Signs that the Federal Reserve could hold off on further interest rate hikes coupled with a booming jobs report sent stocks on Wall Street surging to close a volatile first trading week for the New Year. After yesterday’s Apple-induced slide ...
Fed Chair Says He Won’T Resign If President Trump Asks Him To
(WASHINGTON) — Federal Reserve Chairman Jerome Powell says he will not resign if asked to do so by President Donald Trump. Powell also says the central bank intends to be flexible going forward in determining when to hike its key policy rate. ...
‘Europe Is Disintegrating.’ Greece’S Rockstar Economist Yanis Varoufakis Shares His Vision For Reforming The E.U.
On Sunday morning, the former Greek finance minister Yanis Varoufakis picked up a microphone in Berlin, the German capital where, three years ago, high-stakes negotiations with E.U. leaders culminated in his resignation. Varoufakis, 57, knows many ...
Why We Lie To Ourselves, Every Day
Human action requires motivation, but what exactly are those motivations? Donating money to a charity might be motivated by altruism, and yet, only 1% of donations are anonymous. Donors don’t just want to be altruistic, they also want credit for ...
82 Percent Of The Wealth Generated Last Year ‘Went To The Richest 1 Percent Of The Global Population’
(LONDON) – Four out of every five dollars of wealth generated in 2017 ended up in the pockets of the richest one percent, while the poorest half of humanity got nothing, a report published by Oxfam found on Monday. As global political and ...
A Coal Executive Switched To Building Solar Plants. Now He’S Worried Trump Will Hurt His Business
Jim Lamon is the kind of businessman that Donald Trump would like. And Lamon is the kind of businessman who likes Trump. The CEO of Depcom Power grew up in Alabama, served in the Air Force for six years and spent decades constructing the kinds of ...