09-30-2014, 08:31 AM
The world's three economic superpowers - the U.S., China and Europe - are heading for a major collapse in asset values because their economic models favor consumption instead of productivity, one economist has warned.
US, China, Europe nearing 'Minsky moment': Economist
The world's three economic superpowers - the U.S., China and Europe - are heading for a major collapse in asset values because their economic models favor consumption instead of productivity, one economist has warned. "We're still not wise enough to realize that our current model is a 'Ponzi' scheme rushing toward its inevitable 'Minsky moment'," Steen Jakobsen, a chief economist at Danish investment bank Saxo Bank, said in a research note on Friday. The term "Minsky moment" refers to a phrase coined for the Asian debt crisis of the late 1990s by Pimco's Paul McCulley. Unsustainable debt will be the cause of the crash, according to Jakobsen, and will occur when the cash returns on assets become insufficient to service the debt taken on to acquire those assets in the first place. He gives no timeframe for his thesis but says that the problem of huge debts has been swept under the carpet by central bankers and policymakers and will come back as low inflation or even deflation.
US, China, Europe nearing 'Minsky moment': Economist
The smartphone easily lasted two days on a single charge with heavy use: push email arriving all day, hundreds of notifications from social media, three hours a day of browsing and 30 minutes of gaming, plus an hour of streaming music over Bluetooth.
Sony Xperia Z3 review: great battery life and quality camera | Technology | theguardian.com
Researchers in the UK have revealed a technique that could enable up to one gigabit internet speeds over existing copper connections.
Could ultrafast broadband over copper speed the rollout of gigabit internet? - TechRepublic
The reporter, Jake Bernstein, has obtained 46 hours of tape recordings, made secretly by a Federal Reserve employee, of conversations within the Fed, and between the Fed and Goldman Sachs. The Ray Rice video for the financial sector has arrived.
The Secret Goldman Sachs Tapes - Bloomberg View
For Solazyme, the agreement represents an important step as it ramps up to commercial-scale production. Originally conceived as a fuel business, Solazyme has focused on making oils for products with higher profit margins like personal care, food and petrochemicals.
Unilever to Buy Oil Derived From Algae From Solazyme - NYTimes.com
But in acquiring the Dresser-Rand Group, a Houston-based oil services company, in a $7.6 billion deal announced Sunday night, Siemens signaled an even bigger push into the booming American sector. The deal also demonstrated how much big corporate suitors are willing to pay for companies with a strong market niche.
Siemens Makes $7.6 Billion Bet on Fracking in U.S. - NYTimes.com
Right now there's only one other option if you're on the prowl for a 4K TV with full-array local dimming, and it costs $8,000. In a true-to-form Vizio tactic of slashing prices to gain market share, its 50-inch full-array will start at just $999.
Vizio P652ui 4K LED TV First Impressions Review - Reviewed.com Televisions