Trenton Boatner

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Low-Skilled Mexican Immigrants Are Making The US Labor Market More Efficient

This is good for an economy that often has a surprising number of jobs that go unfilled.<p>The authors, Brian Cadena of the University of Colorado- Boulder and Brian Kovak from Carnegie Mellon University found that between 2006 to 2010, in towns where the Great Recession had caused unemployment of …

RBS and HSBC 'face fines' over Euribor rigging

Royal Bank of Scotland and HSBC among major banks facing fines by European authorities over alleged attempts to manipulate Euribor benchmark borrowing rate<p>The European authorities are close to fining RBS, HSBC and several other major banks over allegations they attempted to manipulate the Euribor …

Ireland is to close a tax loophole used by Apple

<b>Ireland plans to shut a tax arrangement used by Apple to shelter $40bn (£25bn) from taxation.</b><p>Apple, and other firms, have been able to funnel profits into Irish subsidiaries or "ghost companies" that had no declared tax residency anywhere in the world.<p>On Tuesday, the Irish government said it …

Senate Committees

Lampedusa migrant crisis: Sicily declares emergency

<b>The governor of Sicily has declared a state of emergency because of the large numbers of migrants it is having to deal with.</b><p>The order will release funds for aid workers helping the now daily arrivals of hundreds of migrants from Africa and Syria.<p>Italian officials say 370 migrants were rescued from …

North Africa

Janet Yellen to become the first female US Fed boss

The 67-year-old New Yorker will become the first woman to lead the national bank and also the first Democrat to head the Fed, since 1979, when …

Demystifying the US debt ceiling: 5 things you should know

So, in an effort to shine some light on what exactly the debt ceiling means to all of us, Business RT spoke to leading Moscow financial expert Chris …

Greek unemployment tops 1.37mn, more job cuts on the way

Greece’s unemployment rate went up further in July to reach 27.6 percent, according to Thursday's report by the country’s statistic service …

5 depressing ways the 1 percent is strangling the US economy

Once the backbone of our society, the middle class has been broken — and we have the country’s richest to thank<p>The middle class, once the backbone of a strong American society, has been broken, beaten down, pushed further and further toward poverty levels. Here are five well-documented ways that …

Careful what you tweet: Police, schools tap social media to track behavior

Marketed to police department, BlueJay Twitter-monitoring tool "has no IT requirements," explains the sales literature. "All you need is Internet and a browser." Also, $150 a month.<p>A teenager who claimed "sarcasm" after talking on Facebook about shooting up a kindergarten spent months in jail this …

Social Media

Greek former minister Tsochatzopoulos guilty of fraud

<b>Greek former defence minister Akis Tsochatzopoulos has been found guilty of money laundering, in one of the highest-profile corruption case since Greece's financial crisis began.</b><p>Tsochatzopoulos, who was already in jail over a separate case, will be sentenced on Tuesday.<p>Akis Tsochatzopoulos served …

Corruption

Greece forecasts it will emerge from recession in 2014

<b>Greece has predicted that it will emerge from its six-year long recession next year, in a sign it may be finally recovering from its debt crisis.</b><p>The Greek government made the forecast in a first draft of its 2014 budget, which predicted 0.6% growth.<p>"We foresee the end of recession in 2014," vice …

Economy

American Banks' Loan-To-Deposit Ratio Is At A 30-Year Low

In fact the ratio of these two measures, the so-called loan-to-deposit ratio is now at the lowest level in some 30 years.<p>This creates material headwinds for economic growth. Unfortunately there is no evidence that the current monetary policy will reverse the trend of weakening loan growth. And as …

Why U.S. Health Care Is Obscenely Expensive, In 12 Charts

The U.S. leads the world in health care spending, but we don't live very long, and going to the doctor is so expensive that we don't do it very often. So where is the money going?<p>Not toward obesity-related diseases or unnecessary tests and treatments, as the writer John Green pointed out in a …

Corporate profit outlook is weak and getting weaker

Corporate profits are tracking at about a third of original expectations and trending lower, setting up a potentially rough ride when reporting season begins next week.<p>Earnings for companies on the S&P 500 stock index are expected to grow just 3.5% on a quarterly basis, a number that on its face …

Republicans defiant over US shutdown compromise amid Treasury warning

Republicans make rounds on Sunday talk shows in bid to shift blame for shutdown crisis onto White House and Democrats<p>The Treasury secretary, Jack Lew, on Sunday accused Congress of "playing with fire" as the White House and Republicans remained entrenched over the government shutdown and the …

California tea party supporters revel in role in government shutdown

Their partisans in Washington have shut down the government and, as the debt ceiling deadline nears, have given much of the country a case of the shakes. But these are heady times for the<p>tea party.<p>“It’s amazing how we can be completely irrelevant and shut down<p>Congressat the same time,” one of the …

Tea Party

Your Sunday Shutdown Reader #1: In Defense of Boehner

"How many times do we have to refight the Civil War?"<p>I'm not the first to use that term. But readers write to defend Boehner and his motives in a variety of ways. For the record, here is a sampling (and that's his official picture).<p><b>He is playing the long game.</b> This is one of many reader messages …

Goldman Sachs Defines The Word 'Default'

Unfortunately, there's a lot of sloppiness about the meaning of this word, default.<p>In a note examining the debt ceiling, Goldman Sachs provides a service talking about some meanings of the word, and how it's used.<p>The term "default" has been used to mean a number of different things in the context …

Goldman Sachs

Here's A Fantastic And Disturbing Paragraph On How The Market Views The Debt Ceiling

The financial markets digested the Administration's scare tactics on Thursday and quickly rebounded on Friday. Apparently, the sentiment tone remains that investors want to be long for the deal that everyone knows must be made. The lack of a deal has the S&P 500 futures down 50 basis points …

11 Supreme Court Cases That Could Change The U.S. In The Coming Year

The Supreme Court will begin hearing cases this week. Although decisions could take until late June, here are the key cases to watch.<p>WASHINGTON — At 10 a.m. Monday, in the midst of a government shutdown, Chief Justice John Roberts will begin his eighth term at the Supreme Court — beginning a …

Obama Administration

An Economic Avalanche Is Coming

Last week, we didn't get scheduled releases on construction spending, factory orders, or employment. Next week, we may not get releases on trade, job openings, wholesale inventories, import prices, inflation (PPI), retail sales, and business inventories.<p>The data produced by the private sector …

Tesla Stock Plummets After Report Of Model S Catching On Fire

DETROIT (Reuters) - Tesla Motors Co<p>shares fell 6 percent on Wednesday after an automotive blog published images of a Model S electric sedan in flames after an accident on Tuesday morning just south of Seattle, Washington.<p>The blog, called Jalopnik, posted pictures and a video of the Model S fire on …

Spain Blames Typo For Adding $13 Billion To Public Debt

Nobody likes typos; right now, Spain's Economy Ministry must particularly hate them.<p>Four days after publishing the 2014 public debt forecast, Spanish officials have determined a typo mistakenly increased the country's debt figures by €10 billion -- the equivalent of about $13.6 billion<p>"It is an …

Abandoned homes are the future: Imaginative ideas turn blight into beauty

Countless homes remain vacant nationwide — but some cities see it as an opportunity to remake themselves<p>From the belly of one of America's boomtowns, where the rent rises with the elemental certainty of a helium balloon, the housing vacancies of America's less fortunate urban areas almost defy the …

GOLDMAN: If The Debt Ceiling Isn't Raised And The Treasury Runs Out Of Cash, Then Say Goodbye To 4.2% Of GDP*

The government shutdown is the result of Congress' failure to make a budget deal.<p>However, the shutdown has taken attention away from a much bigger policy risk: the impending debt ceiling, which is when the U.S. Treasury is no longer able to borrow money by issuing debt.<p>Economists as well as …

Economy