Daily Archives: July 24, 2013

Senate hearing on the costs of repealing Glass Steagall in 1999

The testimonies given are all excellent summaries of the unjustifiable risks and costs we are paying for the refusal to break up ‘too big to fail’ banks and re-establish a clear division between traditional banking and their speculative pursuits–profit-levering, trading … Continue reading

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Chinese middle-class turning away from “bling”

Chinese vacationers increasingly are turning away from tour-bus travel and frantic shopping trips. The WSJ’s Yun-hee Kim speaks on the changing habits of Chinese tourists. See more on the numbers here. Here is a direct video link.

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Chinese PMI suggests accelerating demand contraction in July

China’s manufacturing for July contracted again, now at the lowest level in the past year. More stimulus to the rescue? The HSBC flash manufacturing Purchasing Managers’ Index, a survey of the crucial manufacturing sector published Wednesday, provides one of the … Continue reading

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Will Detroit start a wave of city bankruptcies?

Bloomberg Economic Editor Michael McKee examines whether Detroit’s bankruptcy will unleash a wave of municipal filings as cities shoulder massive debts and pension obligations. Here is a direct video link.

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