Due to the Weather, Midwest Farmers Fear Widespread Crop Failures and a “Record-Low” Harvest in 2019

The Journal writers explained that, “The cold weather is a big threat to vulnerable crops. Only 22% of corn in North Dakota was mature as of Oct. 7, and 36% in South Dakota. In the 18 biggest corn-producing states, 58% of this year’s crop was mature, versus an average of 85% by that date over the previous five years, according to the USDA.

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…

Stock Prices Are Plunging, and Many Fear This Could Be Another “Black October” for the Stock Market

Today, we are facing a global economic slowdown, an impeachment crisis in Washington and a rapidly escalating trade war simultaneously, and it seems like almost everyone on Wall Street is suddenly talking about “the coming recession”.  In such an environment, any piece of bad news is going to push stocks lower, and that is certainly what happened on Wednesday…

No Recession, but Big Policy Task

The economic ghouls may be disappointed that this week’s real GDP read-out for the quarter came without a minus sign. There is no hint of recession. The ‘fiscal stimulus for dummies’ book can go back on the shelf.  But one doesn’t need to be a ghoul to find plenty to worry about in the national accounts details. Although real GDP is still growing, it is not growing enough to match population growth — so real GDP per capita declined slightly in the year to the June quarter. That is another way of saying real living standards are stagnant — which…

A Brexit Britain Can Help Avert a Global Trade War

Post-Brexit the UK can lead a global move to free trade. A UK/US FTA will markedly reduce UK consumer prices and business costs, and incentivise the EU to negotiate a trade deal with the UK free of legal subjugation and annual payments. A clear Free Trade strategy from a newly elected majority government will be needed to achieve this.

Why Does the EU Go On About the ‘Integrity’ of the Single Market When It Has Been Such a Failure?

If you believed the rhetoric, you would accept that the Single Market was a great success. But the truth is that is has failed to deliver on each of the four freedoms. The European Single Market (SM) is the jewel in the crown of the ‘European Project’ with its four freedoms of movement – of goods, services, workers and capital – or so we are told.  Within the SM, all goods and services produced are supposed to satisfy a common set of regulatory standards. This ought to make it easier to export to other member states of the European Union.…

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