The World’s Most Powerful Reserve Currencies

Today, the U.S. dollar is the world’s most powerful reserve currency, making up over 61% of foreign reserves. The dollar gets an extensive network effect from its use abroad, and this translates into several advantages for the multi-trillion dollar U.S. economy.

Trade Expert: “Unintended Costs of a Trade War Are Far More Significant than Most Americans Realize”

The subsidies that the U.S. government is providing to farmers to make up for lost sales to China are not making up dollar for dollar for the loss ... There’s still a difference between what the farmers could earn and did earn when there weren’t tariffs on their products going into China and what the U.S. government is paying them.”

Food Is Freedom: How Washington’s Food Subsidies Have Helped Make Americans Fat and Sick

Beyond the simple fact that a tax on meat would be yet another example of government overreach, there are other problems with a meat tax. It is also based on a subjective and dubious interpretation of the effects of meat on both the environment and on personal health. Such a tax would, like existing taxes on sugar and tobacco products, disproportionately impact the poorest Americans.

America’s Financial Suicide: The Budget Deficit Rises 26% in One Year as Federal Spending Spirals Wildly out of Control

We are in the process of committing national financial suicide, and most Americans don’t seem to care.  As  you will see below, the federal budget deficit for the fiscal year that ended on September 30th was the largest in 7 years.  In fact, it was actually 26 percent larger than last year.  Federal spending is wildly out of control, and “non-discretionary spending” is projected to go through the roof in the years ahead.  Under our current system, it is literally going to be impossible to turn things around.  As the Baby Boomers continue to retire, the amount of resources demanded…

Climate Fascists Are Closing Down our Theatres

‘Young people are telling us that BP sponsorship is putting a barrier between them and their wish to engage with the RSC,’ said a spokesperson. The pomposity of this might be funny if it weren’t that BP has subsidised their £5 ticket scheme for 16 to 25-year-olds for eight years, allowing 80,000 young people to see RSC performances at reduced rates.

Trump Threatens to “Totally Destroy and Obliterate” the Economy of Turkey if ISIS Fighters Are Released

Earlier today, the President of the United States issued a warning to Turkey and European countries to keep track of their ISIS fighters. The tweet comes as the United States is pulling out of involvement in Syria, allowing Turkey to expand its influence over the north of the country, including Kurdish-controlled areas.

Ranked: The Megaregions Driving the Global Economy

If you’ve ever flown cross-country in a window seat, chances are, the bright lights at night have caught your eye. From above, the world tells its own story—as concentrated pockets of bright light keep the world’s economy thriving. Today’s visualization relies on data compiled by CityLab researchers to identify the world’s largest megaregions. The team defines megaregions as: Areas of continuous light, based on the latest night satellite imagery Capturing metro areas or networks of metro areas, with a combined population of 5 million or higher Generating economic output (GDP) of over $300 billion, on a PPP basis The satellite imagery comes…

Turning the Clock Back

California has passed legislation to significantly restrict the ability of businesses to use independent contractors. This is part of a seemingly global push against the rise of casual jobs (that don’t pay benefits), including the so-called ‘gig economy’.

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