From Bloomberg:
The Curious Case of Japan's Hidden Inflation
If the Bank of Japan's core price gauge is anything to go by, inflation has all but disappeared. Try telling that to anyone who pays the bills.
The general public thinks the cost of living is rising more than twice as fast as the official inflation rate, a survey of consumers by the Bank of Japan shows. (More)
Why Republicans Want a Bigger U.S. Estate Tax Repeal Than Ever
Congressional Republicans have narrowed the estate tax so much that it affects only about 5,500 wealthy American households a year. Now they want to eliminate the tax altogether — with a bonus for heirs.
Under the latest plan, backed by farmers and business groups, estates would pay no taxes. Furthermore, heirs wouldn’t owe any capital gains taxes on the increased value of assets over the deceased’s life. (Continue reading)
Four Charts That Show Dramatic Changes in U.S. Economy Since 1967
n recent decades, the American labor market has undergone major restructuring. Employers have demanded higher skill levels. Workers have stayed in school longer, and it's paid off.
Here are four charts explaining how the economy and job market have transformed — and who has benefited from the upheaval. They're drawn from a new study by Georgetown's Anthony Carnevale and George Washington University research professor Stephen J. Rose. (Read more)
More Proof That the Richer You Are, the Healthier You'll Be
No matter how much you earn, people who earn more than you are likelier to be healthier and live longer. That's the takeaway from a new report by researchers at the Urban Institute and Virginia Commonwealth University examining the complex links between health, wealth, and income. (More here)
The Real Reason Californians Can't Water Their Lawns
In response to the ongoing drought, California Governor Jerry Brown has set limits on urban water use—ordering cuts of as much as 25 percent. Cities across the state will stop watering highway median strips and rip up grass in public places. Golf courses and cemeteries will turn on the sprinklers less frequently, and water rates might rise. (Full article)
From Around the Web:
Wall Street Poised For Another Revenue Bloodbath After Harbinger Jefferies Reports 56% Fixed Income Plunge (ZH, Tyler Durden)
The only silver lining: equities did not plunge, and in fact posted a modest increase of 8% to $203 million. Now if only Jefferies could change its image from a middle market junk-bond specialist catering to the world's B2/B credits, to the New Paranormal's equity powerhouse all would be well.
The results in one chart. (More)
The Fed could be about to make the same mistake it did before the financial crisis (Business Insider)
"The risks of the Fed doing nothing are indeed real, and we look to be poised to repeat the same mistakes of the past."
In a note to clients on Monday, John Silvia, chief economist at Wells Fargo, explores the risks the Federal Reserve is currently running by keeping interest rates pegged at 0% as it has since the depths of the financial crisis. (More here)
Abraham Lincoln would despise you all: Race, the South and the GOP’s most delusional fantasy (Salon)
In an extraordinary amicus brief filed with the Supreme Court to oppose gay marriage, the attorney general of South Carolina recently declared that the Republican congressmen who framed the 14th Amendment intended only to prohibit discrimination against African-American men. Nothing more. Discrimination against women, people of other races and, of course, people who practice religions other than evangelical Christianity, is, according to the brief, perfectly in line with the intent of the 14th Amendment. (Continue reading)
European Bond Markets Go Down the Rabbit Hole (WSJ)
Europe is no stranger to the avant-garde, the experimental and the absurd. But until now, they have largely been the preserve of the arts. Now the financial world—and in particular the bond market—is increasingly challenging fundamental tenets of investing. (More)
Sears Holdings Corp Nets $114M From Real Estate Pact With Simon (ValueWalk)
Sears has unveiled its agreement to form a real estate joint venture with Simon Property to garner $114 million as part of the retailer’s continued efforts to unlock the value of its extensive portfolio of real estate holdings. To offset falling sales, the retailer announced its second deal of this month intended to extract value from its sizeable real estate holdings. (More here)
Electric Car Batteries Just Hit A Key Price Point (ThinkProgress)
Electric vehicle demand in the past five years has soared in this country. The same is true worldwide. By the end of 2014, more than 700,000 total plug-in vehicles had been sold worldwide (plug-in hybrids and pure battery electrics), up from about 400,000 at the end of 2013. As of 2015, dozens of models of electric cars and vans are available for purchase, mostly in Europe, the United States, Japan, and China. (More)
