Thursday, June 5, 2014

Today's Links

1---Negative ECB Deposit Rate: But What Next?, naked capitalism


2--The nagging fear that QE itself may be causing deflation, Telegraph


3--International Labor Organization details impact of global austerity, wsws


Among the report's findings are:
  •  18,000 children die every day, mainly from preventable causes bound up with the lack of funding for nutrition, health, education, care services and protections against child labor.
  •  In 2012, 123 million people in the European Union, representing 24 percent of the population, were at risk of poverty or social exclusion, up from 116 million in 2008. Child poverty rose in 19 of the 28 EU countries between 2007 and 2012, with 800,000 more children living in poverty than in 2008.
  •  Of the nearly 202 million workers unemployed around the world, only 12 percent are receiving jobless benefits.
  •  Nearly half (48 percent) of all people over pensionable age do not receive a pension. For many of those who do, pension levels are not adequate.
  •  With the recent disasters at a Bangladeshi textile factory and a Turkish coal mine highlighting the devastating impact of industrial accidents on workers and their families, only 33.9 percent of the global labor force is covered by mandatory social insurance for workplace injury.
  •  Only 28 percent of women in employment worldwide have maternity cash benefits, which provide some income security during the final stages of pregnancy and after childbirth, forcing many women to return to work prematurely.
  •  Some 39 percent of the world’s population lack health care coverage, a figure that rises to more than 90 percent of the population in low-income countries. As a result, about 40 percent of all global health expenditure is shouldered directly by the sick.
4---The US media and the release of POW Bowe Bergdahl , wsws


5--Obama backs state terror against eastern Ukraine, wsws


Obama called Poroshenko’s installation as president a “wise selection,” even though, as classified diplomatic cables made public by WikiLeaks showed, Washington had previously regarded the billionaire as a “disgraced oligarch” who was “tainted by credible corruption allegations.”
Obama described himself as “deeply impressed by his vision, in part because of his experience as a businessman.” This “vision” guided Poroshenko in the corrupt and at times violent plundering of formerly state-owned assets, which turned him into a billionaire


6--Abenomics' Legacy: Japan's Greatest "Misery" In 33 Years, zero hedge


As Bloomberg shows, Tatsunami’s concerns stem from the price of food soaring at the fastest pace in 23 years after April’s sales-tax increase. Rising prices helped push the nation’s misery index to the highest level since 1981, while wages adjusted for inflation fell the most in more than four years.


Ah yes, the title. We weren't kidding. As of this moment, Japan's misery has not been higher in an entire generation! Its Misery index that is, which combines unemployment (3.6%) and inflation (3.4%), and results in an unprecedented 7.0%: the highest in 33 years....


As we reported two days ago, base Japanese wages excluding bonuses (which are a benefit to just 20% or less of the workforce), have now declined for a near-record 23 months in a row. As Bloomberg, logically, adds, "the prime minister’s drive to fatten paychecks more than inflation is at risk of stalling, with wages excluding overtime and bonus payments falling for a 23rd straight month in April...


7--Negative ECB deposit rate: But what next? - the | Read more at Bruegel


http://globalfaultlines.org/2012/12/24/whats-wrong-with-the-economy-by-mike-whitney/










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