Shane's Feed
Mar 4, 2014
via Counterparties

The tax break everyone likes

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President Obama has released his budget for the 2015 fiscal year; you can read Shane’s massive guide to that 1656-page document here. The most striking detail, Shane writes, is Obama’s proposed expansion of the Earned Income Tax Credit, which provides direct cash transfers to low and moderate-income workers; the official case for the increase is made by the chair of Obama’s Council of Economic Advisors, Jason Furman, in the journal Democracy.

Mar 4, 2014
via Counterparties

President Obama’s 2015 budget: Everything you need to know

Details of President Obama’s fiscal 2015 budget are starting to dribble out — the full budget is set to be released at 1130 AM today can be found on the OMB’s site or on Scribd. We”ll be gathering updates, reaction, and analysis as the budget here throughout the day.

In a year where many lawmakers seem more concerned with preparing for the midterm elections, much of the focus of the president’s budget is on helping the less fortunate — particularly the expansion of the Earned Income Tax Credit. Here’s Reuters:

Mar 4, 2014
via Counterparties

President Obama’s 2015 budget: Everything you need to know

Details of President Obama’s fiscal 2015 budget are starting to dribble out — the full budget is set to be released at 1130 AM today can be found on the OMB’s site or on Scribd. We”ll be gathering updates, reaction, and analysis as the budget here throughout the day.

In a year where many lawmakers seem more concerned with preparing for the midterm elections, much of the focus of the president’s budget is on helping the less fortunate — particularly the expansion of the Earned Income Tax Credit. Here’s Reuters:

Mar 3, 2014
via Counterparties

Crimea never pays

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“The markets are punishing Russia much more swiftly than the diplomats”, writes Jason Karaian of Russia’s invasion of Crimea, which began Friday. Today, MICEX, Russia’s main stock index, fell 11.3%. Russia’s central bank reportedly sold $10 billion of reserves and raised its overnight rate to 7% (from 5.5%) to support the ruble. The currency nevertheless fell 2.5% against the dollar today, to a record low of 36.5 rubles/dollar.

Mar 3, 2014
via Data Dive

Manufacturing and consumer spending edge up

Two reports out today suggest economic growth has been moderate in the US since the beginning of the year. Consumer spending rose more than expected in January, according to the Commerce Department, likely because of high demand for heating.

Additionally, the Institute for Supply Management reported that its manufacturing index rose to 53.2 from the previous month (anything above 50 indicates expansion). Here’s what recent manufacturing growth looks like:

Mar 3, 2014
via Data Dive

Manufacturing and consumer spending edge up

Two reports out today suggest economic growth has been moderate in the US since the beginning of the year. Consumer spending rose more than expected in January, according to the Commerce Department, likely because of high demand for heating.

Additionally, the Institute for Supply Management reported that its manufacturing index rose to 53.2 from the previous month (anything above 50 indicates expansion). Here’s what recent manufacturing growth looks like:

Feb 25, 2014
via Counterparties

Peer pressure

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The age of monopolistic control over internet traffic is here. “We’re really, really fucking this up”, says Nilay Patel of the new age of pay-to-play internet, ushered in first by the Verizon v. FCC court decision last month, and more recently the Netflix-Comcast peering deal.

Feb 25, 2014
via Counterparties

Peer pressure

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com.

The age of monopolistic control over internet traffic is here. “We’re really, really fucking this up”, says Nilay Patel of the new age of pay-to-play internet, ushered in first by the Verizon v. FCC court decision last month, and more recently the Netflix-Comcast peering deal.

Feb 14, 2014
via Counterparties

Megadrought

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On January 17, the governor of California declared a state of emergency due to the state’s megadrought. Most regions have only received 20-30% of their usual rain or snowfall this winter. This follows two straight less extreme, but still below normal, years of precipitation. According to US Trust’s Joseph Quinlan (via Steven Perlberg), California joins China, India, Australia, and the Middle East — all of which “are experiencing multiyear water challenges that threaten to slow or impair economic activity”.

Feb 14, 2014
via Counterparties

Megadrought

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On January 17, the governor of California declared a state of emergency due to the state’s megadrought. Most regions have only received 20-30% of their usual rain or snowfall this winter. This follows two straight less extreme, but still below normal, years of precipitation. According to US Trust’s Joseph Quinlan (via Steven Perlberg), California joins China, India, Australia, and the Middle East — all of which “are experiencing multiyear water challenges that threaten to slow or impair economic activity”.