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Friday, 8 July 2016

Top Bank Says Likelihood of Recession Now 60%

 

Yield Curve Shows 60% Chance of Recession, Deutsche Bank Says



The so-called yield curve suggests there’s a 60% chance of a U.S. recession occurring in the next 12 months, according to analysts at Deutsche Bank, led by Dominic Konstam. The calculations attach the highest probability to an economic contraction since the financial crisis.
The yield curve, typically measured using the level of long-term rates relative to short-term rates, has gained particular attention this year because of the narrowing difference between the two, often thought to signal an economic slowdown. Some measures are at their flattest since 2007.


Some of these financial products charge annual interest rates ranging from 30 to 180 percent. Firms licensed under the California Finance Lenders Law loaned a total of $34.1 billion in 2015, up 48.7 percent from the previous year, according to the report.

CFIB issued a letter to Canada Post president and CEO Deepak Chopra last week, calling for a settlement, but stressing that unfunded liabilities in Canada Post's pension plan are not a trivial issue, with a $6.2 billion solvency deficit. Pension costs must to be lowered to ensure plans are sustainable and don't force rate hikes or service cuts on customers.

The world’s oldest currency -- sterling is derived from the old German “ster” for strong or stable -- bought almost $5 during World War I. The day of the EU referendum, it traded at $1.50. It touched a 31-year low of $1.3115 on Tuesday.


Bill Gates And Other Billionaires Backing A Nuclear Renaissance 


 
Let’s for a second imagine a world without nuclear energy. That’s a tough one but let’s try. No nuclear bombs, of course, no Chernobyl and Fukushima, no worries about Iran and North Korea. A wonderful world, maybe? Probably not, because without nuclear energy we would have burned millions more tons of coal and billions more barrels of oil. This would have brought about climate change of such proportions that what we have today would have seemed negligible. Nuclear energy and uranium, which feeds it, are controversial enough even without any actual accident happening. Radioactivity is dangerous. Nobody is arguing against it. When an accident does take place, the public backlash is understandably huge. What many opponents of uranium forget to mention, however, are the benefits of nuclear energy and the fact that the statistical probability of serious accidents is pretty low. They focus on the “What if?” and neglect […] 

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