Business

Japan is introducing a system which will not only be an alternative to cash, but to card payments as well. Starting this summer, the government will begin testing the new system where foreign tourists will be able to verify their identities and buy things at stores using only their fingerprints. Tourists will have their identities verified, and then be able to make purchases from shops with a flash of their finger when their card details have been processed. RT reports: The system will calculate how much money a customer has based on a fingerprint.

Excerpted from Doug Noland's Credit Bubble Bulletin blog,

Bubble Economy or Not?

Nearly a decade since the housing bubble burst the dirty skeletons still emerge from the closet, and still nobody goes to jail.

In the latest example of how criminal Wall Street behavior leads to zero prison time and just more slaps on the wrist, overnight Warren Buffett's favorite bank, Wells Fargo, admitted to "deceiving" the U.S. government into insuring thousands of risky mortgages. Its "punishment" - a $1.2 billion settlement of a U.S. Department of Justice lawsuit, the highest ever levied in a housing-related matter.

By John Mauldin of Mauldin Economics

These 2 Charts Show the Next Recession Will Blow Out the US Budget

The weakest recovery in modern history has stretched on for 69 months.

By 2017, it will be the third-longest recovery without a recession since the Great Depression. By 2018, it will be the second longest.

Only during the halcyon economic days of the 1960s have we seen a longer recovery; but that record, too, will be eclipsed sometime in 2019—if we don’t see a recession first.

Edward Snowden called on the people in the United Kingdom to rise up and demand the resignation of Prime Minister David Cameron after the Tory leader admitted he has benefited from shares in an offshore trust set up by his father. The next 24 hours could change #Britain. https://t.co/x5e1YOJenx#PanamaPaperspic.twitter.com/0ChHHWteFy — Edward Snowden (@Snowden) April 7, 2016   Referring to growing critcism of David Cameron’s admissions, the NSA whistleblower stated “the next 24 hours could change Britain”.