Wednesday, October 15, 2014

@0:00, 10/15/14

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1
Automobiles

Wheelies: The Truck of Texas Edition

The Texas Auto Writers Association awards Truck of Texas title to the 2015 Ford F-150; Johan de Nysschen defends Cadillac’s New York move in an op-ed.
Automobiles; Sports Utility Vehicles and Light Trucks; Awards, Decorations and Honors 

LG chem will make 25% of batteries it is claimed.

2
U.S.

C.I.A. Study of Covert Aid Fueled Skepticism About Helping Syrian Rebels

A classified review concluded that many past attempts by the agency to arm foreign forces covertly had a minimal impact on the long-term outcome of a conflict.
United States Defense and Military Forces 

In South Asia there is a religious war. 
It has run for thirteen centuries.
We participate in it at our peril.

3
U.S.

U.S. Files More Charges in Benghazi Attack

The Justice Department filed 17 additional charges against the Libyan man suspected of being the ringleader in the 2012 attack that killed four Americans.
Benghazi Attack (2012); Diplomatic Service, Embassies and Consulates 

Under US law he is kidnapped and guilty of no crime.

4
Business Day

Regulatory Case in North Carolina Appears to Trouble Supreme Court

During arguments, a case involving a state board’s efforts against teeth-whitening services raised questions about a wide range of regulatory bodies.
Antitrust Laws and Competition Issues; Regulation and Deregulation of Industry; Teeth and Dentistry 

I think the dental board wins this case unless the court decides tooth whitening is not dentistry. 
That may be the best course.

5
Health
In some people, consumption of the sugar sharply effects a hormone that helps to regulate fat accumulation, researchers at Harvard reported.
Diabetes; Diet and Nutrition; Obesity; Sugar 

The study is bad.

6
U.S.

David Greenglass, the Brother Who Doomed Ethel Rosenberg, Dies at 92

Mr. Greenglass, whose testimony against his sister and brother-in-law, Ethel and Julius Rosenberg, in a 1951 spy trial helped send them to the electric chair, later admitted to lying.
Espionage and Intelligence Services; Deaths (Obituaries); Cold War Era 

Ancient history.   Let the interested chew on it.

Russian Communism failed.  We can debate why.
Technology

Hiding History in Firefox

Plus, how to migrate photos from the iPhoto app on iOS 8 app.
Mobile Applications; Computers and the Internet; Web Browsers; iOS (Operating System); Privacy 

Private browsing will do me little good.
I must use cookies.
I have not discovered how to tell Firefox to ignore activeX commands from outside.  The Times tells my browser to scan to the adds and menus.
N.Y. / Region

Job Center Gives a Voice, and Fair Wages, to an ‘Invisible’ Work Force

The Bay Parkway Community Job Center in Brooklyn, run by the Worker’s Justice Project, trains day laborers in workplace safety while setting fair wages with contractors and ensuring safe work conditions.
Building (Construction); Temporary Employment; Labor and Jobs; Wages and Salaries; Day Laborers; Foreign Workers; Hurricane Sandy (2012)

The city needs the casual workforce.
The realestate interests make no provision for it.
U.S.

Ex-Prosecutors Urge Voters Not to Bring a Felon Back as Providence’s Mayor

The three former prosecutors, one of them a senator, said Vincent A. Cianci Jr., the disgraced former mayor of Providence, R.I., had shown no remorse for his crimes.
Elections, Mayors; Ethics and Official Misconduct; Midterm Elections (2014)

Providence needs a politician as mayor.
Vincent A. Cianci Jr. is not the politician it needs.
The Upshot

Q. and A. With Loretta Mester: Optimism at the Fed

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant
economy and a sustained drop in poverty in what is of the poorest countries in Latin America.
Elections; Polls and Public Opinion
Business Day

Ireland to Phase Out ‘Double Irish’ Tax Break Used by Tech Giants

The provision known as the “double Irish,” used by companies like Google to reduce their bills, has been under scrutiny from European Union regulators.
Corporate Taxes; Regulation and Deregulation of Industry; Income Tax
N.Y. / Region

From 2,500 Miles Away, an Online Gambling Push for New York

The organizer behind the social media drive Let NY Play is MGM Resorts International in Las Vegas, which has made no secret of its ambition to be a big player in Internet gambling.
Gambling; Computers and the Internet; Poker (Card Game); Casinos
World

Once a Symbol of Power, Farming Now an Economic Drag in China

Frustrated by how little they earn, the ablest farmers have migrated to cities, hollowing out rural districts in the Chinese heartland.
Agriculture and Farming; Land Use Policies; Rural Areas; Economic Conditions and Trends
Sports

With Season Canceled, Sayreville’s Playemore upbeat about the economy than many of her colleagues.

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)

1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
World

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

Catalonia Cancels Vote to Secede From Spai

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

n,

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

of the dollar would have to be a sustained appreciation before I would want to change my outlook.

Q. How will you judge when the time has come to raise interest rates?
A. It’s not only the distance from the goals, it’s the speed with which we’re getting toward the goals. Levels are really hard to measure. Changes are much easier to measure. There are a lot of things in economics like that. And then you have to forecast, of course, because monetary policy takes a while to work. That’s the art with the science. I like to look at multiple models because I don’t think we have one model of the economy that

The president of the Federal Reserve Bank of Cleveland, who will play a big role in shaping monetary policy, is more upbeat about the economy than many of her colleagues.
United States Economy; Inflation (Economics); Quantitative Easing; Interest Rates; Credit and Debt


1937

From the beginning, economists who had studied the Great Depression warned that policy makers needed, above all, to be careful not to pull another 1937 — a reference to the fateful year when FDR prematurely tried to balance the budget and the Fed prematurely tried to normalize monetary policy, aborting the recovery of the previous four years and sending the economy on another big downward slope.
Unfortunately, these warnings were ignored. True, the Fed at least stood up to the inflationistas demanding tighter money now now now; but its actions were at the least hobbled by the chorus. The ECB actually did raise rates for a while, as did the Riksbank in Sweden. And fiscal austerity driven by fear of the invisible bond vigilantes (and justified by faith in the confidence fairy) was the norm everywhere, although worse in Europe.
And now things are sliding everywhere. Actually, Europe already had one 1937, with its slide into a double-dip recession; but now it’s very much looking like another. And the world economy as a whole is weakening fast.
So now we have another milestone: Earlier today the 10-year yield dropped below 2 percent. It’s up again slightly as I write this, but all the market signals are saying that once again the big risk is deflation or at least very sub-par inflation.
I hope that the Fed will stop talking about exit strategies for a while. We are by no means out of the Lesser Depression.
N.Y. / Region

Man, 84, Dies After Boat Capsizes Off Staten Island

The victim, who had gone fishing with a friend, drowned after the 18-foot vessel they were in rolled, the authorities said.
Maritime Accidents and Safety; Boats and Boating
U.S.

Deal Is Said to Be Close in Detroit’s Bankruptcy

The city and a big creditor asked a judge on Tuesday to cut short planned testimony so they could keep negotiating toward a settlement that might protect a prized public art collection.
Bankruptcies; Credit and Debt
Opinion

A Trickle-Down Effect of Citizens United

As long as the Supreme Court and Congress fail to address the distorting influence of money on elections, state and local action is the best remaining defense.
Citizens United v Federal Election Commission (Supreme Court Decision); Campaign Finance; Political Action Committees; Political Advertising; Editorials; Midterm Elections (2014); States (US)
World

Catalonia Cancels Vote to Secede From Spain, but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.
Referendums
World

U.N. Chief Offers Stark View of Gaza Devastation

Reconstruction efforts fail to soften the harsh critique by the secretary general of the United Nations, Ban Ki-moon, who called the destruction “beyond description.”
Defense and Military Forces; Palestinians; Embargoes and Sanctions; International Relations
World

President of Bolivia Claims Victory in Election

President Evo Morales has been propelled by a buoyant

but Calls for Nonbinding Ballot

The Catalan leader, Artur Mas, said citizens would be asked to express their opinion about seceding from Spain even if not in a binding independence vote.

Referendums

rs Vanish Before Recruiters

Colleges have begun to notice Sayreville’s football team, but with no more games this fall after seven players were arrested, the seniors have no way to demonstrate their skills.
Football; Hazing; Sex Crimes; Draft and Recruitment (Sports); Interscholastic Athletics; Education (K-12)

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