06-23-2016, 10:54 PM
The UK used to be the sick man of Europe. Its annual growth in prosperity has improved from bottom of the league among the G7 leading economies before it joined the European Economic Community to top spot in the 43 years after 1973. This does not prove that becoming a member improved Britain’s international performance. It does, however, allow the Remain campaign to argue that membership did not prevent UK national renewal.
Brexit in seven charts — the economic impact - FT.com
The US has been warned about its high poverty rate in the International Monetary Fund's annual assessment of the economy. The fund said about one in seven people were living in poverty and that it needed to be tackled urgently. It recommended raising the minimum wage and offering paid maternity leave to women to encourage them to work.
IMF warns the US over high poverty - BBC News
China is stepping up stimulus by stealth in its efforts to ensure hitting the leadership’s growth target this year, with moves that will enhance the role of the state even as policy makers say they want a bigger role for the market. QUICKTAKE China's Market Meddling The fiscal deficit when taking off-budget spending into account will exceed 10 percent of gross domestic product this year -- more than triple the government’s stated ratio of 3 percent, according to economists at UBS Group AG and JPMorgan Chase & Co.
Stealth China Stimulus Means Fiscal Gap Over 10%, Economists Say - Bloomberg
“Gutenberg’s printing press provided the trigger,” Goldin told me by email, “by flipping knowledge production and exchange from tight scarcity to radical abundance. Before that, the Catholic Churches monopolized knowledge, with their handwritten Latin manuscripts locked up in monasteries. The Gutenberg press democratized information, and provided the incentive to be literate. Within 50 years, not only had scribes lost their jobs, but the Catholic Church’s millennia-old monopoly of power had been torn apart as the printing of Martin Luther’s sermons ignited a century of religious wars.”
Another Age of Discovery - The New York Times
THIS May Anonymous, a network of activists, briefly hacked into Greece’s central bank and warned in a YouTube message that: “Olympus will fall…This marks the start of a 30-day campaign against central-bank sites across the world.” The warning struck a raw nerve.