New worries grip Russian economy
IHT - At the start of the global financial crisis, the Russian authorities insisted they had ample cash reserves to weather any storm. But as sorrow has succeeded sorrow — plummeting oil prices, a 70 percent descent in stock markets here, a global credit crisis and a slow-motion bank run on this country’s private banks — Russia has had to spend its reserves faster than anybody imagined.
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Working Together for a Green New Deal
Nation - The time has come for a public-private community partnership to fix this country and put it back to work. In the framework of a Green New Deal, the government would become a powerful partner to the problem solvers of the world–and not the problem makers.
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Six Social Policy Myths
Policy - Policy experts often think alike, even when the evidence contradicts them. This is how billions of dollars get spent on government programs that don’t work.
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Warfare - Fighting with photons
Economist - The most famous weapon of science fiction is rapidly becoming fact. The first serious battlefield ray gun is now being deployed. And the next generation, now in the laboratory, is coming soon.
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Shell and Exxon join the profits bonanza
Guardian - Royal Dutch Shell and Exxon Mobil followed BP yesterday by revealing record quarterly profits. Royal Dutch Shell, the biggest oil firm in Europe, beat City expectations with third-quarter current cost-of-supply profits - which strip out unrealised inventory gains and losses - up 74% to $10.9bn (£6.7bn). Exxon Mobil, the world’s largest oil company, smashed its own record for the highest quarterly earnings from a US firm, by delivering a profit of $14.83bn.
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Does Google Know Too Much?
Spiegel - Google gathers so much detailed information about its users that one critic says some state intelligence bureaus look “like child protection services” in comparison. A few German government bodies have mounted a resistance.
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Banks to Continue Paying Dividends
Washington Post - U.S. banks getting more than $163 billion from the Treasury Department for new lending are on pace to pay more than half of that sum to their shareholders, with government permission, over the next three years.
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The Fed’s rate cut - Approaching zero
Economist - How much lower can the federal funds rate go? Certainly at least to 0.5%, a level it has not been close to since the 1950s. But beyond that, things get tricky.
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