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It is immeasurably easier to digitally create claims on real-world assets than it is to create real-world assets.

We all understand that the cost of everything that can be created digitally is near-zero. This is why music, videos, text-based knowledge and telephone calls (Skype) are now basically free.

Since money is now created digitally, it too...
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While the US added 175,000 jobs last month, the unemployment rate edged higher to 7.6pc, leaving stock and currency markets unsure of how to interpret the data....
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In This Issue.

*  Euro finishes its rally week on high note.
*  Yen continues to benefit from repatriation.
*  Draghi sounds upbeat.
*  China prepares its curb appeal.

And, Now, Today's Pfennig For Your Thoughts!

A Jobs Jamboree Friday!

Good day. And a Happy Friday to one and all! What a dolt I was yesterday, not paying attention to the actual

...
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Just as news that Verizon was handing over all its customers’ data to the government was being digested  more news broke about government spying.

NSA also obtains access to data from Internet service providers on Internet use such as data about email or website visits, several former officials said. NSA has established similar relationships

...
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Why the Right is Wrong About Jobs (Market Watch)

Rex Nutting argues that the structural difficulties in hiring, like cost of labor, taxes, and (according to its detractors) Obamacare, don't explain the lack of job growth right now. The Keynesian model seems to make more sense: lack of demand, lack of

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The problem is central banks have created a vast pool of credit-money that is far larger than the pool of sound investment opportunities.

Why are asset bubbles constantly popping up around the globe? The answer is actually quite simple.  Asset bubbles are now so ubiquitous that we've habituated to extraordinary excesses as the New Normal; the...
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Conference Calls For Bold Approaches To The Jobs Emergency (Campaign for America's Future)

Derek Pugh reports on the Roosevelt Institute's jobs conference on Tuesday, which pointed at unemployment rather than deficits as the real economic crisis. Panelists offered numerous possible solutions,

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French unemployment has edged up again, piling even more pressure on President Hollande as China-France trade tensions simmer and Paris moves to block EU-US trade talks....

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