07-02-2016, 11:17 PM
Bad news for European Central Bank President Mario Draghi and Federal Reserve Chair Janet Yellen: their low-rate policies are juicing the economy a lot less than they would have in the past. The level at which policy rates neither add stimulus nor curb demand has fallen the world over, according to new research by Federal Reserve Board economists Kathryn Holston and Thomas Laubach and San Francisco Federal Reserve President John Williams. The so-called "neutral" or "natural" rate dipped to negative 0.4 percent in Europe in 2015, down from 2 percent in 2007, and 0.4 percent in the U.S., versus 2.3 percent. It stands at 1.4 percent in the U.K. and Canada.
Yellen and Draghi's Policies Aren't So Easy After All - Bloomberg
Some adventurous eaters are starting to swap out their happy hour cocktails for something a little more natural. Kava drinks — often referred to as "kava tea" — are made from the roots of a plant grown in the South Pacific, and they're known for their purported anti-anxiety and anti-depressant effects. When ground up and mixed with water, the root turns into a juice that some claim can be a natural alternative to alcohol. It has been used for thousands of years as a ceremonial and social drink in the South Pacific.
What kava tastes like - Business Insider
Those are Kiva robots, once the marvel of warehouses everywhere. Amazon whipped out its wallet and threw down $775 million to purchase these robot legions in 2012. The acquisition effectively gave Jeff Bezos, its 52-year-old chief executive, command of an entire industry. He decided to use the robots for Amazon and Amazon alone, ending the sale of Kiva's products to warehouse operators and retailers that had come to rely on them. As contracts expired, they had to find other options to keep up with an ever-increasing consumer need for speed. The only problem was that there were no other options. Kiva was pretty much it.
How Amazon Triggered a Robot Arms Race - Bloomberg
According to NerdWallet's Annual American Household Credit Card Debt Study, the average American household is spending $6,658 in interest payments annually -- fully 9% of the average household income.
5 ways to dig yourself out of debt - Business Insider
Europe's growing army of robot workers could be classed as "electronic persons" and their owners liable to paying social security for them if the European Union adopts a draft plan to address the realities of a new industrial revolution.
Robots could become 'electronic persons' with rights, obligations under draft EU plan