Financial Markets and Economy
The global economy is looking better than it has for several years right now, and Europe is no exception.
OECD Sees Lots to Worry About in the Global Economic Outlook (Bloomberg)
The global economy may not be strong enough to withstand risks from increased trade barriers, overblown stock markets or potential currency volatility, according to the Organisation for Economic Cooperation and Development.
Trump's Industrial Rebirth Is a Dead End (Bloomberg)
President Donald Trump's economic adviser, Peter Navarro, has vowed to restore U.S. manufacturing supremacy. This is no surprise — Trump's election campaign emphasized the promise of a return to the industrial economy of the mid-20th century, before countries such as China supplanted the U.S. as the workshop of the world.
Mexico cancels sugar export permits to U.S. in trade dispute (Reuters)
Mexico has canceled existing sugar export permits to the United States in a dispute over the pace of shipments, according to a letter seen by Reuters, in a flare-up industry sources said could temporarily disrupt supplies.
Trump Budget Proposal Reflects Working-Class Resentment of the Poor (NY Times)
You could almost hear the gasps from both sides of the ideological divide when President Trump unveiled the outline of his first budget late last month, proposing to slice $54 billion from the discretionary civilian budget next year to pay for a beefed-up defense.
The Shale Industry Is Scrambling to Catch Up to Its Own Boom (Bloomberg)
Five years ago, the thought of $55-a-barrel oil would have given Piotr Galitzine heartburn. Now it’s keeping one of his steel-pipe shops in Houston open 24/7 and fueling a flurry of orders.
A Third Of All U.S. Shopping Malls Are Projected To Close As ‘Space Available’ Signs Go Up All Over America (The Economic Collapse)
If you didn’t know better, you might be tempted to think that “Space Available” was the hottest new retail chain in the entire country. As you will see below, it is being projected that about a third of all shopping malls in the United States will soon close, and we just recently learned that the number of “distressed retailers” is the highest that it has been since the last recession.
America's dwindling birth rate will have a big impact on the economy (Mauldin Economics)
The US fertility rate fell again last year, marking the lowest rate of reproduction since the CDC started keeping records in 1909. This prompted the amusing Bloomberg headline, “Make America Mate Again.”
Why We Need China Trade, In A Chart (Barron's)
In his latest investing update, bond guru and Barron’s Roundtable member Jeffrey Gundlach noted what the United States imports from the rest of the world in outlining where the bond market is headed.
When America Was Most Innovative, and Why (Harvard Business Review)
The competitiveness of the U.S. economy depends on technological progress, but recent data suggests that innovation is getting harder and the pace of growth is slowing down.
Profits and Productivity (Dietrich Vollrath)
One of the running topics here has been the relationship of markups and measured productivity growth. See prior efforts here and here. Those posts talked about how markups of price over marginal cost may skew the calculation of the growth rate of productivity.
SEC Said To Decide On Bitcoin ETF By Friday (Zero Hedge)
Among the big drivers behind the recent move higher in the price of bitcoin – in addition to the traditional "capital outflow" demand out of China – has been widespread hope that the SEC will approve the first bitcoin ETF.Among the big drivers behind the recent move higher in the price of bitcoin – in addition to the traditional "capital outflow" demand out of China – has been widespread hope that the SEC will approve the first bitcoin ETF.
Companies
United Looks at Boeing's ‘Paper Plane’ and Likes What It Sees (Bloomberg)
United Airlines has taken a close look at an all-new jetliner that Boeing Co. engineers are developing for trans-Atlantic flying, and likes what it sees.
Trump takes credit for Exxon jobs investment that began 4 years ago (Think Progress)
But Exxon itself said in its release that this isn’t really new. The investments it announced on Tuesday were begun in 2013 and will continue through at least 2022, beginning before and extending past Trump’s current term in office.
Technology
These are the top 100 websites of the internet, according to web traffic (Visual Capitalist)
There are over 1.1 billion websites on the internet, but the vast majority of all traffic actually goes to a very select list of them. Google.com, for example, has an astounding 28 billion visits per month. The next closest is also a Google-owned property, Youtube.com, which brings in 20.5 billion visits.
If You Think Your Job Is One That Cannot Be Automated, You’re In For A Rude Awakening (Free Market Shooter)
It is pretty accepted knowledge that a number of lower-skilled jobs will disappear in the coming 5-10 years, due to the human element being replaced by autonomous machines.
Blue Origin, Jeff Bezos’s Moon Shot, Gets First Paying Customer (NY Times)
Jeff Bezos, the billionaire chief executive of Amazon, founded a rocket company as a hobby 16 years ago. Now that company, Blue Origin, finally has its first paying customer as it ramps up to become a full-fledged business.
Apple says it's already patched 'many' Wikileaks iOS exploits (Engadget)
Less than 24 hours ago, Wikileaks published a large cache of documents detailing top secret CIA operations conducted by its Center for Cyber Intelligence. Included in the 8,761 documents and files, referred to was Vault 7, are references to zero-day exploits that were reportedly being used to track and control iPhones but also Android phones and Samsung smart TVs.
Sudden Coffee aims to stir up instant brewing with third-wave tech (Tech Crunch)
The world of coffee is one often torn between the old and the new, traditional brewing techniques and the latest, coolest method. But if there’s one area pretty much anyone would agree improvements could be made, high-tech or otherwise, it’s instant coffee.
Google helps libraries encourage kids to code (Engadget)
Google has added a new project to its list of library programs, which include WiFi hotspot lending. The tech titan has teamed up with the American Library Association (ALA) to launch "Libraries Ready to Code," an initiative that aims to help equip librarians with the right skills and tools to encourage kids to code.
Politics
Hey, Trump voters: This fiasco is what you get when you “experiment” with the presidency (Salon)
Columnist Michael Gerson has described President Donald Trump as living in “the eternal now.” In other words, Trump doesn’t really consider the past or the future in his decision making, especially when it comes to his knee-jerk blurtings, be they on Twitter or during a rally or whenever he’s within spitting distance of a microphone.
Health-Care Companies See Big Risks in Plan to Replace Obamacare (The Wall Street Journal)
For health-care companies, the new House Republican proposal to replace the Affordable Care Act carries significant risks, as it would likely mean a decline in insured patients and continued worries about an unstable market.
As many as 60,000 detained immigrants may have engaged in forced labor for private prison companies (Alternet)
As many as 60,000 immigrants detained by U.S. Immigration and Customs Enforcement could play a role in a class-action lawsuit accusing a private prison company of violating federal anti-slavery laws.
GOP congressman says Trumpcare will force people to choose between new iPhone and health insurance (Think Progress)
During a Tuesday morning appearance on CNN, Rep. Jason Chaffetz (R-UT) suggested that under Trumpcare, Americans will face some tough choices?—?like buying an iPhone or making sure they can see a doctor.
How the Euro Could Break Up—or Be Saved (Bloomberg)
Talk about the breakup of the euro is fashionable again. With populists such as Marine Le Pen trying to storm the establishment and the popularity of the single currency in decline, executives and investors, including JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, say nothing can be ruled out.
What’s the state of State? Trump plans to run foreign policy without the professionals (Salon)
Salon’s Matthew Rosza reported on Monday on the incredible shrinking man, Rex Tillerson, the formerly larger-than-life Exxon CEO turned secretary of state who — despite the world’s high level of interest in the Trump administration’s new foreign policy — has barely been seen since he was sworn in.
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Hospitals: “We cannot support The American Health Care Act in its current form” (Vox)
“We ask Congress to protect our patients, and find ways to maintain coverage for as many Americans as possible,” Richard Pollack, president of the association, wrote in a letter to House Republicans.
U.S. Airports Say They Need $100 Billion Over Five Years (Bloomberg)
U.S. airports estimate they need almost $100 billion for capital projects during the next five years and can only fund about half of that on their own, according to a study by a group representing commercial airport owners.
The Dark Strategy at the Core of the GOP Health Care Plan (Rolling Stone)
Paul Ryan and House Republicans have introduced a Trump-approved plan to overhaul Obamacare. But Tryancare – "our wonderful new Healthcare Bill," to quote the president – is not "repeal and replace." It is "cap and strangle."
Trump’s ‘order’ that all pipelines be made with U.S. steel is a classic fake-out (Think Progress)
Just four days after taking office, President Donald Trump issued a memorandum to the Secretary of Commerce calling on the agency to “develop a plan” for all new, retrofit, or expanded pipelines to be made with U.S. steel.
Health and Biotech
Alzheimer's Staggering $259B Cost Could Break Medicare (Forbes)
The cost of providing care for Americans with Alzheimer’s disease has hit $259 billion–more than a quarter of a trillion dollars–as costs mount to treat more aging baby boomers entering long-term care facilities, according to a new report.
Life on the Home Planet
Hours after Mosul's municipal complex was declared liberated by the country's top military commanders and U.S.-led coalition officials, the wounded began pouring into a small frontline clinic just a few hundred meters away.
Worried About the Apocalypse? Here’s a Shopping Guide (Bloomberg)
Since 1947, the Bulletin of the Atomic Scientists has kept the Doomsday Clock to track how close mankind is to destroying itself. Assessing nuclear arsenals and other risks, it calculates the number of “minutes to midnight,” with midnight being End Times.
NFL Says Las Vegas Could Support Pro Football (The Wall Street Journal)
The National Football League has decided that Las Vegas is a viable NFL city, a key determination that gets the Oakland Raiders closer to moving to Sin City.
A Thousand Flights To Be Cancelled As Week-Long Air Traffic Control Strike Starts In France (Forbes)
As airports around Europe issue warnings over a new, week-long strike called by France's air traffic controllers that started Monday (March 6), the number of cancelled or delayed flights affecting not only French airlines is mounting as more passengers find themselves stranded at airports.
Songwriters Seek New Streaming Standards (Bloomberg)
The writers who craft songs for artists from Garth Brooks to Beyonce plan to tell a panel of judges this week that the increasing popularity of music-streaming services like Spotify will destroy their profession unless they get more royalties.
