Insolvent Greece is at the center of the European Financial Crisis that has led to a 20 percent devaluation of the exchange rate of the euro against the U.S. dollar. Polls indicate that in parliamentary elections on Sunday, the main leftist and center-right parties will finish one and two.
The European Central Bank (ECB) gave the Left and their allies meeting in Davos, Switzerland, everything they could have hoped for with the announcement that they have agreed to print $1.13 trillion of new cash to buy the national debt of their insolvent members. But “hidden within the announcement is evidence of Germany's weakening commitment to the European project,” according to Stratfor.
Apple, Google, Adobe and Intel, whose politics are often to the far left, have agreed to pay $415 million to resolve a class-action lawsuit alleging they conspired as an illegal cartel to suppress tech workers’ wages through secret “non-poaching” agreements involving 64,000 employees.
Eric Schmidt told the World Economic Forum in Davos, Switzerland this week that "the Internet will disappear.” As he was speaking, The Information, The Verge and the Wall Street Journal reported that Google plans to run a new wireless service that resells the wireless services it already buys wholesale from the Sprint and T-Mobile networks. Google, Sprint and T-Mobile all declined to confirm or deny the reports.
Facebook intends to use this knowledge to develop algorithms that can “scalably” silence what it deems to be “noise” in users’ accounts. But what they are really after is to hide un-paid crap, to free up more user space for the good Facebook-paid crap.
President Barack Obama in his State of the Union speech said, “The verdict is clear, middle class economics works.” Obama said lots of words about how the U.S. economy has improved, but he avoided the “numbers” regarding how or if that improvement had reached the middle class. If the president had used the “numbers,” he would have to explain why real middle class paychecks hit a 50 year low on his watch.
Despite California having the largest manufacturing base in the nation, the state is growing high-paying manufacturing jobs at only one seventh of the U.S. average. The culprit in this debacle is Governor Brown’s wildly expensive alternative energy mandates that stab industrial manufacturers with electrical costs that are about double the U.S. average.
China’s Shanghai futures market crashed by the maximum 10 percent, and trading was suspended on January 19th, while Shanghai Composite Index fell by 7.7 percent. Both events were the worst day of trading since shortly after the Lehman Brothers bankruptcy launched the financial crisis six years ago.
Despite living in a globalized economy, unions film crews charge a “distant location” surcharge for filming outside of the so-called 30-Mile Zone (TMZ) compared to places closer to Hollywood.
Jerry Brown might try to claim credit for rising employment, home values and personal and corporate income. But California’s growth has been due partly to the importation of impoverished foreign immigrants, driving the state's highest annual population growth rate in nearly a decade, according to the state’s finance department.
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