Posts tagged with ‘economics

US government is seriously thinking about dropping the paper dollar permanently

Even though the US government has tried and tried for decades to get people to accept a $1 coin, it’s never caught on. But the Government Accountability Office (GAO) says that by permanently replacing the paper dollar with a coin, the government could save $4.4 billion over 30 years.

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Bhutan measures its own success through national happiness, not wealth

Almost every nation on Earth measures itself and against each other by wealth and by gross domestic product (GDP). Except for Bhutan. The tiny Himalayan hamlet only opened its borders in 1970 and in 1971, the Buddhist nation started a system where it measures its own success not by dollars in the bank, but by the smiles on people’s faces. As goofy as that may seem, it’s a program that has done wonders for the country, and now the UN wants to try and duplicate the model around the world where possible.

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TED talk of the day: The Power of the Black Market Economy

Robert Neuwirth spent four years among the chaotic stalls of street markets, talking to pushcart hawkers and gray marketers, to study the remarkable “System D,” the world’s unlicensed economic network. Responsible for some 1.8 billion jobs, it’s an economy of underappreciated power and scope.

Good news: US unemployment falls Bad news: Because more people have stopped looking for work

In a number that’s going to be wildly spun by both sides, new economic reports indicate that US unemployment fell to 8.1%, but that seems to be mainly due to hundreds of thousands of people having dropped out of the job hunt. Oops.

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Why are Millennials the cheapest generation?

Sure, the economy’s still bad, and a lot of people in Europe and America are pinching pennies and watching purchases, but corporations have tried and tried and tried and failed to market cars, houses and credit cards to the young adults sometimes called the Millennials, between 18 and 25. But they just aren’t buying it. 

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$21 trillion has been stashed in tax havens by 0.001% of the world’s population

When you’re super rich, it’s good to stay as super rich as possible by stashing all your cash in offshore tax havens. Who wants to pay taxes that are just going to go towards building bridges and schools for poor people, when you have more yachts to buy? The Tax Justice Network’s Estimating the Price of Offshore Revisted report says that over $21 trillion has been squirrelled away in offshore tax-havens by 90,000 super-rich tax-cheats (0.001% of the world’s population)

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LIBOR: There is an international banking conspiracies, and it’s run by dumbasses

Lately, the news news and internet news have picked up on LIBOR, the international banking interest rates standard and how’s it’s set by a group of chaps in London to suit their own whims. There is in fact an international banking conspiracy, but it’s not run by Bond villains or Lex Luthor, trying to build some gigantic sun laser… it’s run by a small group of old tweed jacket lunch buddies in London who are just trying to be cool around each other.

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Politics Suck: Beholden to JP Morgan

If anyone doesn’t think that corporations like JP Morgan don’t completely own the Republican party, watch this. I am quite sure they completely own Democrats, too.  Fuck.

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Great Britain prepares for the worst if the Euro collapses

With Greek economy in collapse and looking like it might have to remove itself from the Euro, some are seeing this as the first domino to fall in the single European currency. After Greece could come Spain and Italy and eventually the whole thing. And if it happens, it will be bad, and the UK, which is not a Eurozone country, could bear the weight of the whole thing falling— riots, markets dropping, huge waves of immigration etc. So in case that happens, Britain is drawing up plans for the possibility.

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Primitive living short film of the day: “The American Who Quit Money”

Mark Sundeen, the author of book, The Man Who Quit Money is a soulful journey into the spirit of Daniel Suelo. Suelo, gave up on money in 2000. He walked into a phone booth, pulled out 30 dollars and left it. Twelve years later, Suelo still does not have a personal ID, bank accounts, a modern home, does not take money, or live off of federal welfare. Suelo lives in caves in the canyon lands outside of Moab, UT. Suelo harvests wild foods, eats roadkill, and dumpster dives. Suelo is not an isolationist, he still is very active in the Moab community, SE Utah politics, and he is an active blogger.

Via

Forbes’ list of the 15 richest fictional characters

In addition to its annual list of the richest real life people in the world, Forbes also puts out a yearly list of the 15 richest fictional characters, using a bunch of math and mumbo jumbo to try and assess a character’s real-world holdings.

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1970s study that predicts the downfall of civilization in 2030 is right on track

In 1972, The Limits to Growth modeled the effects of unlimited human expansion on the planet’s finite resources. Now, 40 years later, the predicted models are still a near match with reality. So you shouldn’t worry about the shit hitting the fan at the end of this year— but come 2030, start stocking up like a crazy person.

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In a cost-saving measure, Canada will phase out the penny starting later this year

Both in the US and Canada, the copper-coated penny is a coin that costs more to produce than it’s worth. There have been a small movement in America to ditch the penny for this reason, but in Canada, they’re actually doing it. Later this year, the Canadian mint will stop making the penny altogether, phasing out the one cent.

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