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                                                              Articles posted on 3 July 2011

Front Page   Analysis Blog    Investing Blog    News Blog    Opinion Blog   Current Markets
 Economic News: Asia/Pacific  Europe   Middle East/Africa   Americas   USA Government 


USA Economic Releases: Looking at the Week Ending 08July2011

Econintersect: The USA is enjoying a short week caused by Monday being the 4th of July holiday. The week ahead is dominated by the June 2011 employment data.

Readers are reminded that the USA dominates economic reporting as:

  • the USA remains the dominate player in global consumption / trade;
  • data from both private and public reporting agencies are released significantly closer to the end of reporting periods than any other country or blocks;
 Read more.....

CMI: Consumer Contraction Continues to Soften

  by Rick Davis

The Consumer Metric Institute's Daily Growth Index has now moved well off the historically low bottom that it reached roughly a month ago.

Continue reading
CMI Contraction Watch
The Free Market Delusion

free-market-rainbow-Friedman Guest Author Derryl Hermanutz has contributed to GEI previously on topics related to theory of money and relationships between current events and economic history and philosophy.

A recent Econintersect post reported that the Congressional Budget Office has gone on record stating "fiscal policy cannot be put on a sustainable path just by eliminating waste and inefficiency; instead, changes will need to significantly affect popular programs, people’s tax payments, or both.

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Auction Rate Securities: Post Mortem

shady deal by John Lounsbury

A major scandal that affected many major broker-dealers in recent years has gotten less publicity than it should have. I refer to the use of a “safe” investment vehicle known as ARS (Auction Rate Securities). These were peddled by registered representatives of brokerage houses to trusting retail investors as alternatives to money market funds with similar low risks but higher yields. These representations turned out to be far from correct; court ordered restitution by brokers to investors so far have exceeded $67 billion. This came from a market that peaked at a value of $330 billion in early 2008.

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India: Immense Wealth in Temple

treasure chest Econintersect: When RBI purchased 200 tons of Gold from IMF for $ 6.7 billion in November 2009, it made headlines in financial circles. (See The Hindu.)

If the latest news reports are to be believed, a temple in South India has so far been found to have far greater wealth. According to The Times of India, Rs 1 lakh crore of Gold, diamonds and other precious metals has been counted by the RBI (Reserve Bank of India), and the RBI team is still counting, following an order of the Supreme Court. According to IBN Live, the six stone cellars of the Sri Padmanabhaswamy
temple in Kerala (Thiruvananthapuram) contain a vast hoard of treasures. One of the chambers is centuries old.

Read more......

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