06-20-2016, 10:48 PM
In Stoke, Merthyr, Birmingham, Manchester and even rural Shropshire, the same lines recurred: so unchanging that they threatened to turn into cliches, but all the more powerful because of their ubiquity. “I’m scared about the future” … “No one listens to us” … “If you haven’t got money, no one cares.” And of course, none of it needs much translation. Instead of the comparative security and stability of the postwar settlement and the last act of Britain’s industrial age, what’s the best we can now offer for so many people in so many places? Six-week contracts at the local retail park, lives spent pinballing in and out of the benefits system, and retirements built on thin air? Advertisement It may have been easy to miss in the London-centred haze of the “knowledge economy” and the birth of the digital future, but this is where millions of lives have been heading since the early 1980s – and to read that some Labour MPs have come back from their constituencies, amazed by the views they encounter on the doorstep, is to be struck by a political failure that sits right at the heart of the story. How did they not know?
Britain is in the midst of a working-class revolt | John Harris | Opinion | The Guardian
Recessions, as the economists argue, are really caused not by one or two factors, but by excesses. Excesses in monetary policy, financial assets, or surprise. In their view, no such excesses exist. "US recessions are generally caused by one or more of three factors: policy tightening in response to an overheating economy, investment imbalances that lead to a credit crunch/financial collapse, and external shocks," said the note.
Recession is not right around the corner - Business Insider
“Second, even if the vote is for Brexit, the UK would probably remain a member of the EU for several years,” the report said. “The result of the referendum would only be advisory.” In other words, this vote is not legally binding. Combined with most of the political leaders preferring to remain in the EU means that the leaving process will be dragged out, and may not even officially occur until 2020. Additionally, UK leaders may end up coming out with a deal that is ultimately very similar to their current membership with the EU, while still technically leaving it.
3 reasons why the Brexit vote is just not a big deal - Yahoo Finance
The Canadian housing market just keeps getting hotter. Home prices in the Greater Vancouver area have surged 30% year-over-year in May, up from 15% at the end of 2015, according to the bank's June 2016 "Financial System Review." Meanwhile, prices in the Greater Toronto area are growing by 15% YoY, up from 10% half a year earlier.
Canadian housing bubble - Business Insider
IEX, the company founded by "Flash Boys" hero Brad Katsuyama, has won approval to run a US stock exchange. IEX, which has up until now operated as an alternative trading system (ATS), filed with the US Securities and Exchange Commission to become a stock exchange last year. That kick-started an ugly battle with the incumbent exchanges. Nasdaq recently said that the SEC could be sued if it approves IEX's application to become an exchange, while Jeffrey Sprecher, CEO of Intercontinental Exchange - which owns the New York Stock Exchange - has called IEX "un-American."