America

Authored by James Rickards via The Daily Reckoning,

Leland Miller, a good friend of mine, is the founder and proprietor of an economic research service called the “China Beige Book.”

The name “beige book” was borrowed from the surveys conducted by regional Federal Reserve banks of economic conditions in their regions. (In the days before the internet, the Fed issued hard-copy booklets with different-colored covers based on subject matter. The economic conditions booklet had a beige-colored cover. Hence the name.)

Authored by David Stockman via Contra Corner blog,

The financial system is loaded with anomalies, deformations and mispricings - outcomes which would never occur on an honest free market. For example, the junk bond yield at just 2% in Europe is now below that of the "risk-free" US treasury bond owing solely to the depredations of the ECB.

Here’s a live transmission from the Texas courtroom where JP Morgan Chase & Co’s lawyers are asking a judge to throw out one of the largest punitive judgments in legal history...

In what appears to be an expertly timed exercise in fearmongering less than two weeks after the horrifying Halloween terror attack in lower Manhattan - the deadliest attack in America’s financial center since 9/11 - the Department of Homeland Security has issued a bulletin warning the public about the risk of drones being used to facilitate acts of terrorism.

Authored by Umair Haque via Eudaimonia blog,

When, in the 1930s, the great economist Simon Kuznets created GDP, he deliberately left two industries out of this then novel, revolutionary idea of a “national income”: finance and advertising.