Eight
EU states in deflation as calls grow for QE in Sweden - (www.telegraph.co.uk) Sweden’s
Riksbank admitted in its latest monetary report that something unexpected had
gone wrong. Sweden has become the first country in northern Europe to slide
into serious deflation, prompting a blistering attack on the Riksbank’s
monetary policies by the world’s leading deflation expert. Swedish consumer
prices fell 0.4pc in March from a year earlier, catching the authorities by
surprise and leading to calls for immediate action to avert a Japanese-style
trap. Lars Svensson, the Riksbank’s former deputy governor, said the slide into
deflation had been caused by a “very dramatic tightening of monetary policy”
over the past four years. He called for rates to be slashed from 0.75pc to
-0.25pc to drive down the krona, and advised the bank to prepare for
quantitative easing on a “large scale”.
Watch Out! Global deflation
Looms - (www.cnbc.com) The
recent weak economic data from China "significantly increases" the
risk of global deflation according to Societe Generale's uber-bearish
strategist Albert Edwards, who argued that investors were ignoring the warning
signs. Edwards – who is known for his gloomy predictions about the global
economy – said that China's first-quarter gross domestic product (GDP) data had
been "virtually overlooked" by investors, but included important
signs that declining prices were looming…. Economists are concerned by
deflation because it can push down demand, with people holding off purchases in
the hope of more price declines. This, in turn, can lead to lower production
and an economic slump – or even a depression.
How
The Oil Boom Changed North Dakota In One Chart - (www.businessinsider.com) The
oil rich Bakken shale formation has helped reshape North Dakota. The USGS
says the Bakken formation has estimated mean oil resource of 3.65 billion
barrels of oil. This has helped get the U.S. well on its way to energy
independence. Naturally, as the economy continues
to recover, many have flocked to North Dakota for jobs — the state is said to
have a 3% unemployment rate. What's more these are high paying jobs. Mark
Perry, professor of economics at
the Flint campus of The University of Michigan, tweeted this chart that shows that North and South Dakota
had about the same per-capita income for 80 years. But the oil boom pushed
North Dakota's per capita income by $11,500.
US oil crumbles as stockpiles threaten record highs - (www.cnbc.com) U.S. crude futures fell on Tuesday ahead of data expected to show that inventories in the world's top oil consuming nation are close to exceeding record-highs. Brent also fell but was cushioned by continued geopolitical concerns of an escalation of the standoff in Eastern Ukraine. Sanctions against Russia could stymie supplies from one of the world's biggest producers. The sell-off increased the discount of the U.S. benchmark to its international counterpart by more than $6. Brent crude was down nearly $1, clawing back above $109 a barrel after reaching a six-week high of $110.36 last week. U.S. crude plunged by $2.24 to settle at $102.13 a barrel, its largest one day drop since January 2.
US oil crumbles as stockpiles threaten record highs - (www.cnbc.com) U.S. crude futures fell on Tuesday ahead of data expected to show that inventories in the world's top oil consuming nation are close to exceeding record-highs. Brent also fell but was cushioned by continued geopolitical concerns of an escalation of the standoff in Eastern Ukraine. Sanctions against Russia could stymie supplies from one of the world's biggest producers. The sell-off increased the discount of the U.S. benchmark to its international counterpart by more than $6. Brent crude was down nearly $1, clawing back above $109 a barrel after reaching a six-week high of $110.36 last week. U.S. crude plunged by $2.24 to settle at $102.13 a barrel, its largest one day drop since January 2.
Northwestern's blitz to keep players from
unionizing NYT - (www.cnbc.com) A
National Labor Relations Board official took a historic step last month in
ruling that Northwestern's scholarship football players should be considered
employees of the university and therefore had the right to unionize like other
workers. And then, almost immediately, Northwestern began a wide-ranging
campaign to defeat a unionization vote, which is scheduled for Friday. The
president emeritus publicly said that a vote for the union could mean the end
of Division I sports at Northwestern. A former quarterback visited the team to
encourage players to vote no. Coach Pat Fitzgerald, a former football star who
is revered on campus, has framed a vote for the union as a personal betrayal. "Understand
that by voting to have a union, you would be transferring your trust from those
you know — me, your coaches and the administrators here — to what you don't
know — a third party who may or may not have the team's best interests in
mind," Fitzgerald wrote to the team in an email.
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