News 

Elizabeth Warren’s childcare proposal relies on dishonest accounting

“Elizabeth Warren’s proposal to extend affordable childcare to everybody relies on dishonest accounting to create the impression that it is more fiscally sound than it may actually be in reality” reports washingtonexaminer.com. Previously, liberal University of California, Berkeley economists Emmanuel Saez and Gabriel Zucman, estimated that the wealth tax would raise $2.75 trillion over a decade.However, footnote vii notes, “One complication is that we have not evaluated the budget or economic implications of the senator’s wealth tax.So she’s being dishonest when she claims the wealth tax would raise, “four times…

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No recession but global growth will slow to a crawl this year, Janus Henderson says

“The world economy is headed for a period of “dull, low” growth, according to fund manager Janus Henderson, but the risk of an outright recession remains small” writes Thomas Lohnes for cnbc.com. “Our central forecast is not for a recession… It is just for dull, low growth,” she added.”There is definitely a slowdown in the momentum of the global economy.Most economists, as well as some the world’s business elite, agree that economic growth is slowing but policymakers have expressed some hope for a soft landing rather than a full-blown recession.I…

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Markets News 

Bundesbank: Germany is not nearing a recession

“FRANKFURT–Germany’s economic slowdown doesn’t appear to be turning into a recession, the country’s central bank said Monday, as temporary bottlenecks in the auto industry are subsiding and the labor market remains strong” writes Tom Fairless for marketwatch.com. Germany’s economy, Europe’s largest, narrowly avoided a recession at the end of last year as a weak trade performance dragged on growth, the country’s statistics office said last week.In its monthly report, published Monday, the Bundesbank said economic growth probably remained soft early in 2019, reflecting weak confidence among companies that are navigating…

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Markets News 

CREDIT SUISSE: Here’s why investors shouldn’t assume China’s economy is already recovering

“Credit Suisse analyst Andrew Garthwaite says signs of Chinese economic growth could be a fake-out” writes Marley Jay for businessinsider.com. And without lax lending standards, he says industrial production and economic growth won’t improve.After all, China’s government said the economy cooled off in 2018 and grew at its slowest pace since 1990.In the end, no matter where you look, it’s become a tall order to get a solid reading on the economy.”We need to see credit growth increase and much more fiscal stimulus (which is a quarter of 2015 levels…

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Crypto News 

Japan Economic Alliance Asks Financial Regulator FSA to Reduce Tax on Crypto

“The Japan Association of New Economy (JANE) has asked the Japanese Financial Services Agency (FSA) to reduce the current tax rate for crypto trading income, Cointelegraph Japan reported on Feb. 14” writes Helen Partz for cointelegraph.com. In the regulation proposal, JANE asked the Japanese regulator not to harm innovation by imposing restrictive regulation on the crypto industry.The association has also asked the FSA to impose no tax on crypto-to-crypto transactions.Led by Hiroshi Mikitani, the CEO of Japanese e-commerce giant Rakuten, JANE has reportedly sent a proposal request to the country’s…

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China hides its economic crisis behind a great wall of lies

“The second report indicates that China’s exports are resurging well above economic analysis” reports washingtonexaminer.com. Two CNN reports on Thursday suggest that China has good reason to play hardball with U.S. trade negotiators.Attempting to pressure U.S. companies into asking the White House to cut a China-friendly trade deal, China has been pushing its citizens to buy Huawei over Apple. Source: washingtonexaminer.com

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Markets News Stocks 

Investors may have already missed out on the bulk of the market’s gains this year

“Investors expecting the stock market to build on the robust start it’s seen in 2019 don’t have history on their side” writes Brendan Mcdermid for cnbc.com. A lot will have to go right to continue the best market start in 32 years.Recent years in this bull market, though, have shown that outsized gains are possible.In 2017, the market jumped 19.4 percent, 2013 saw a 29.6 percent surge and 2009, the year that saw the crisis bottom, ended with the S&P 500 up 23.4 percent. Source: cnbc.com

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Markets News 

Economics After Neoliberalism: Market fetishism is a perversion of economics

“The share of academic publications that use data and carry out empirical analysis has increased substantially in all sub-fields within economics and currently exceeds 60 percent in labor economics, development economics, international economics, public finance, and macroeconomics (Angrist et al., 2017)” reports bostonreview.net. Other labor market institutions are needed to take advantage of free lunches created by monopsony and other labor market failures in the segment of the labor market where most workers find themselves.In short, neoliberalism appears to be just another name for economics.Neoliberalism—or market fundamentalism, market fetishism, etc.—is…

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