Spain’s unemployment rate has hit its highest level since “at least” 1976, topping 27.2 percent in the first quarter of 2013, according to BBC News and other media outlets around the world. The new figures were released ahead of anticipated remarks by Prime Minister Mariano Rajoy on Friday afternoon, which were largely expected to focus on plans to cut back on austerity measures in favor of other methods designed to stimulate the Spanish economy.
Government ministers spoke to the press [...]
London Gold Market Report
from Adrian Ash
Fri 5 Oct, 07:10 EST
Dollar Gold “Decidedly Bullish”, Targets $2400 by Mid-2013 as Indian Demand Turns Higher
WHOLESALE U.S. Dollar gold prices slipped 0.4% from new 11-month highs in London trade Friday morning, dipping beneath $1790 per ounce as European stock markets crept higher.
Wholesale silver bullion prices eased back below $35.00 per ounce – but also held 1.1% up for the week – as commodities held [...]
By Peter Whoriskey, Published: March 8
The U.S. government last year announced a $10 million award, dubbed the “L Prize,” for any manufacturer that could create a “green” but affordable light bulb.
Energy Secretary Steven Chu said the prize would spur industry to offer the costly bulbs, known as LEDs, at prices “affordable for American families.” There was also a “Buy America” component. Portions of the bulb would have to be made in the United [...]
At a time when things were supposed to be getting better they are instead turning worse: Commodity prices are eating into consumer spending, historically low interest rates haven’t done a thing to help housing, and, most worrisome, the job market rebound has been stopped in its tracks.
Is it too early, then, to talk about a double dip? Probably.
Economists busy ratcheting down their forecasts for [...]
The numbers still blow me away.
In the wake of the crisis, there are observable divergences in the types of responses by developed economies. The challenge is to bring down leverage. A good measurement for national indebtedness is the ratio of the total debt level of the real economy-government, non-financial companies and households relative to GDP. For example, the U.S. government debt is US$ 14 trillion, [...]