Recent comments by Rajesh

Global growth momentum increasing!
Euro zone industry stumbles in May, recovery still frail
| Reuters

Industrial production in the euro zone's three biggest economies - Germany, France and Italy - fell month-on-month. Germany's 1.4 percent decline was the biggest since May 2013.

A 1.3 percent fall in French industrial production was the steepest since June 2013 and Italy's production registered its worst performance since November 2012 with a 1.2 percent drop.

Germany's faltering economy has cast further doubt over the euro zone's prospects for recovery this year, with no other big country strong enough to pick up the slack.

The 9.6 trillion euro economy of the euro zone began a steady climb out of a two-year recession last year, but any rebound is being hindered by continued austerity aimed at fixing public finances, joblessness and uneasy markets.

Bubblisimo Gerkinov wrote:

But will you have inflight World Cup of Softball coverage?

It'll probably be free if you join Amazon Prime.

Amazon wants to tests automated drones for the delivery of goods. The next logical step is Amazon Air Taxi. Intercity travel on your schedule.

If you could throw in a computer/brain virtual reality interface so business people can work on their PowerPoint presentations while they fly/sleep, it could work.

josap wrote:

Do I have to get up to put luggage in the overhead bin after we are in the plane body?

The overhead bins are integrated into the seating module. You place your luggage in the bin before the module is loaded. The bins are still available during flight.

josap wrote:

I do not want to be loaded onto a plane using a crane.

It's like an amusement park ride, free with every airplane ticket.

Nemo wrote:

Estimated gate arrival: 9:23 P.M.

The whole boarding/deboarding process for airplanes is wrong. Too much contention for the Jet way and the aisle.

They should have several seating modules with say five rows of seats, you find the module with your seat, use the aisle for that module to get to your seat and the luggage bins, and fasten your safety belt. Then when all the people in your module are seated, the whole module should be lifted up and then lowered into the air frame.

Deboarding is just a reverse procedure. Notice that with spare seating modules, people can claim their seats before the airplane arrives.
Unload arriving seating modules, load departing seating modules, air frame is not tied up while people wait for the aisle to clear.

Nemo wrote:

where free alchohol is served in coach.

Replace the overhead luggage compartments with beer kegs, you probably need more toilets installed as well.

The Summer of Complacency continues.

Two to five more weeks.

Jackdawracy wrote:

You do realize nobody over 14 in the USA is allowed to act as if they care about soccer?

Once a talented U.S. soccer player reaches 16, he can play for real money in England or Germany.

Did I mention that I walked to the unemployment office today? Snark

Outsider wrote:

Laws against going out of business. Now that's funny.

For a while, Pakistan made it illegal to sell stocks at a loss.

Unexpectedly!
Singapore GDP Unexpectedly Shrinks as Manufacturing Declines - Bloomberg

Singapore’s economy unexpectedly contracted in the second quarter as a tight labor supply and company moves to shift production overseas hurt manufacturing.

Gross domestic product fell an annualized 0.8 percent in the three months through June from the previous quarter, when it expanded a revised 1.6 percent, the trade ministry said in a statement today. The median of 17 estimates in a Bloomberg News survey was for a 2.4 percent gain.

Expected: +2.4%
Actual: -0.8%

Just a 3% of GDP miss. Economics is hard

Hu Knows Im Lovin It!
Secret Path Revealed for Chinese Billions Overseas - Bloomberg

Now, one way they could be doing it is clearer. Last week, when China Central Television leveled money-laundering allegations against Bank of China Ltd., the state-run broadcaster’s report prompted the revelation of a previously unannounced government program that enables individuals to transfer their yuan and convert it into dollars or other currencies overseas.

Offered by some banks in the southern province of Guangdong, across the border from Hong Kong, the trial program was introduced in 2011 for overseas property purchases and emigration and doesn’t constitute money laundering, Bank of China said in a July 9 statement. The transfers were allowed by regulators and reported to them, the bank said.

“What it shows is the government has been trying to internationalize the renminbi for a lot longer than we thought,” Jim Antos, a Hong Kong-based analyst at Mizuho Securities Ltd., said by phone, using the official name for China’s currency and referring to policy makers’ long-stated goal of allowing the yuan to become freely convertible with other currencies. “I’m rather encouraged by this news because this is the way they need to go.”

China’s foreign-exchange rules cap the maximum amount of yuan that individuals are allowed to convert at $50,000 each year and ban them from transferring the currency abroad directly. Policy makers have taken steps in recent years, including allowing freer movements of capital in and out of China, as they seek to boost the global stature of the not-yet-fully convertible yuan.

It's secretly legal money laundering!

sdtfs wrote:

paying a lot more in property tax than the long time residents next door are paying

Do your neighbors support expanding municipal spending programs more than you do?

As some high-risk assets take a hit, investors fear worse is to come
| Reuters

And while some of the optimism in the junk debt market has started to fade, the bears are far from taking over. The spread on the riskiest U.S. high-yield corporate bonds, those rated triple-C or less, has widened by about 0.35 percentage point against benchmark Treasuries since June 23, according to Bank of America-Merrill Lynch data, but the levels are still not far from their tightest since 2007.

“This correction only serves as a reminder that nothing is yet fixed in the euro zone and that, no matter how much money the ECB (European Central Bank) ends up printing, it will not jump-start the euro zone’s economies," said Phoebus Theologites, chief investment officer at SteppenWolf Capital in Lucerne, Switzerland. “But this does not mean we will get contagion or a crash,” he added.

Wilberforce wrote:

would have scored 3 goals

But he only has two hands!

Lobbyist Ben Dover wrote:

I bet all my protest go unheard.

If you belonged in the 1%, you wouldn't protest getting richer.

skk wrote:

that's a police firing range.

They need practice bringing down local news drones before they beat up a suspect.

Bruce in Tennessee wrote:

I think they watched us watch the Food Channel

You need to record a good venison recipe.

Outsider wrote:

Are there no bureacraticides?

Against regulations in California.

Outsider wrote:

Well, your weather's pleasant.

Attracts bureaucrats pests.

Lets take a coffee break
I'll take the under on retail sales.

sdtfs wrote:

Copper mining is pretty standard exploitation of poor indigenous people.

Those desperately poor Arizonians. Don't know how they survive on such low wages.

sdtfs wrote:

The constant chirping will drive you nuts.

Noise canceling headphones.

justaskin wrote:

where your lightbulb gives away your wi-fi psswd

I've hacked my lightbulb to give away my neighbors password.

T minus sixteen months and counting...
Fed officials debate timing of interest rate increases: WSJ
| Reuters

A debate is intensifying among the Federal Reserve's regional bank presidents about whether to push interest rates up from zero sooner than planned because of recent improvements in the U.S. job market, the Wall Street Journal reported.

Most Fed officials at June's policy meeting didn't see rate increases until 2015, according to projections made before the Labor Department reported on July 3 that the jobless rate fell to 6.1 percent in June, the Journal said in an article posted late on Friday.

Fed officials hadn't expected unemployment to fall to near 6.1 percent until the end of this year.

"We have made more progress toward our unemployment goals than we would have thought" earlier this year, San Francisco Federal Reserve President John Williams told the Journal.

He added that this development "suggests that monetary policy can safely start the process of normalization a touch earlier" than previously expected.

He didn't specify when that would be, but has said in the past he sees the first Fed rate increase in the second half of 2015, the Journal reported.

I'd have to say that the French built the modern world and the English built the post-modern world.

picosec wrote:

Whatever happened to BASIC?

C# is Visual Basic with semicolons at the end of each statement.

ResistanceIsFeudal wrote:

Remember when some of us used to think there were systematic issues that would preclude our economy from recovering from a crash unless they were addressed?

No.

poicv2.0 wrote:

This burritto is for my mitochondria

I sense a disturbance in the Force.

Argentina is a promising market unless you want to get paid.

How does that name sound in Spanish?

I'm sure the municipal bond insurers are well capitalized.

Household income captures the effects of two (or even three) wage families in a way that average wage index doesn't. This matters especially during the period when more women were entering the workforce.

Many people don't know that the Fed started tightening a year ago. Including this joker:
Fed closer to tightening policy than many think: Plosser
| Reuters

A top U.S. central banker said on Friday the Federal Reserve may be "closer than a lot of people think" to raising interest rates given the firmer recent inflation and labor data.

Charles Plosser, president of the Philadelphia Fed, told Bloomberg TV the Fed is now closer than it has been to reaching its objectives, no matter how they are measured, adding: "We should not be keeping interest rates at zero until we reach all our objectives."

Many monetary policy rules and guidelines are now suggesting the Fed should start to tighten policy after years of accommodation in the post-crisis era, Plosser said.

"For us to deviate from what these guidelines and benchmark rules tell us, we'd have to have pretty good reason to want to deviate from them and explain why," he said. "So I think we're closer than a lot of people might think."

His projection is for a Fed Funds rate of 1.0% by the end of the year.

Yoringe wrote:

Hollywood run out of Ideas?

About 1983.

Floriduh:
A Florida judge just voided the state’s Congressional districts. Here’s what you need to know. - The Washington Post

47 percent of votes in Florida's House elections in 2012 went to Democratic candidates, but Democrats won only 39 percent of the state's House seats. This is partly because Democratic-leaning minority voters were concentrated heavily in District 5, and by extension under-represented everywhere else.

And this is why the problem of gerrymandering is so difficult to solve at the national level. Individual representatives often stand to gain from the process even when their party loses overall. So political will to tackle the issue is practically non-existent.

Japan: recession
China: slow growth
France: recession
Germany: slowing growth
Italy: recession
Russia: recession
U.S.: no growth in first half

Improving Global Growth Momentum: Check.

burnside wrote:

As it is, not a rebound, really.

It's a correction of the correction.

My top ad is for a computer on module. I'm not sure why they think that HCN is a likely target for that kind of sales pitch.

Chip Me
Why is the Chipme icon not under wearables?

Prediction is very difficult, especially about the future present.
Niels Bohr - Wikiquote

KarmaPolice wrote:

GDP hasn't been relevant in 20 years.

GDP hasn't been relevant in 20 70 years. Fixed It For Ya

Sweden’s deflated economy: Sub-zero conditions | The Economist

ONLY a few years ago the Sveriges Riksbank was the envy of the central-banking world. Sweden’s economy, which it oversees, grew three times faster than the euro zone’s in 2010 and dodged Europe’s double-dip recession in 2012-13. Even better, the Riksbank felt confident enough in recovery to start raising interest rates in 2010. Its main policy rate reached 2% in July 2011, while rates in most other rich economies stayed near zero.

Yet the Riksbank seems to have got out too far over its cross-country skis. By the end of 2011 inflation was sinking rapidly while the crisis in the euro zone deepened. Since late 2012 inflation has bumped along at roughly zero and occasionally dipped into negative territory (see chart). And on July 2nd the Riksbank announced a further half-point cut to its benchmark rate, larger than expected. This pared the rate all the way back to 0.25%, its lowest point in the worst days of the global recession.

From the beginning Sweden’s rate increases looked premature. Admittedly, the Swedish economy was a star performer early in the global recovery. Its financial sector weathered the storms of 2008-09 comparatively well, thanks in part to clean-up efforts after a brutal crisis in the 1990s. Having stayed outside the euro area, Sweden enjoyed ample flexibility to combat the great recession. The krona tumbled in 2008-09, supporting exports and providing some cushion against collapsing global demand.

Yet the economy was still shaking off the damage of the recession when the first rate increase came in July 2010. Unemployment then stood at 8.2%, while the inflation rate, at 1.1%, was well below the central bank’s target.

Godzilla!!
Japan economics minister warns of premature QE exit, sees room for more easing
| Reuters

Japanese Economics Minister Akira Amari warned that it would be premature for the Bank of Japan to consider an exit strategy from its massive stimulus program, voicing hope instead for further monetary easing if achievement of its inflation goal falls behind schedule.

Amari also said that while Japan appears to be emerging from years of persistent price declines, it was too early to formally declare a sustained end to deflation with the economic recovery still vulnerable to external shocks.

"The BOJ has expressed strong determination that it won't hesitate to take further action if (the timing for meeting the inflation target) is not on schedule," Amari said in an interview at a Reuters Newsmaker event on Friday.

"If the BOJ judges that it's not on schedule, I think the central bank will decide on its own (to act)," he said.

sm_landlord wrote:

Isn't that sort of a technicality rather than the reality?

No lender of last resort power.

sm_landlord wrote:

Isn't that what central banks do?

Hong Kong does not have a central bank, just a monetary authority.

Hu Knows
HKMA Buys $1.3 Billion in Currency Defense on Merger Demand - Bloomberg

Hong Kong’s de facto central bank bought $1.33 billion this week to maintain the city’s 31-year-old currency peg to the greenback as merger activity boosted demand for the local dollar.

The Hong Kong Monetary Authority made purchases on July 1 for the first time since December 2012 and said demand for the local currency “increased lately,” partly driven by “commercial activities, including merger and acquisition activities and dividend distribution.” The authority, known as the HKMA, said today it has no further comments to add to last week’s statement.

Currency manipulator!

Vonbek777 wrote:

first multinational corporation

The Templars were the first, until the King of France canceled their charter.

Whatever happened to the Occupy Hotel movement?