Australian Debt Clock Blog Post 12| 27th December 2015 U.S. Federal Reserve Breaks Bad In the wind up of 2015 the Federal Reserve (FED, U.S. Central Bank) has made a counter logical (logical, in terms of their theoretical mandate) decision to increase interest rates, effectively reducing the amount of liquidity that will be available into 2016. On 17th December 2015 the FED made the decision to raise he Federal Funds Rate from a range of 0-0.25% to 0.25-0.5%, the first increase since 16th December 2008 in light of the Global Financial Crisis (GFC). ‘…inflation at the rate of 2 percent (as measured by the annual change in the price index for personal consumption expenditures, or PCE) is most consistent over the longer run with the Federal Reserve's mandate for price stability and maximum employment.’ Source: U.S. ‘…it is reasonably confident that inflation will rise, over the medium term, to its 2 percent objective.’ Source: U.S. What is the issue with low inflation or deflation? What is the probable outcome?
News.com Topix - Australia News 1 hr ago | The Age The making of an unlikely radical Hated by progressives for his role in Gough Whitlam's dismissal and his ultra-conservative foreign policies when Liberal PM, Malcolm Fraser today believes Australia should cut all military ties to the US. Trending on the Topix Network 5 hrs ago | Sydney Morning Herald Australian banks profit from NZ After years of sub-par growth in New Zealand, signs of economic recovery in what has been dubbed the ''rock star economy'' bode well for Australia's big banks. 10 hrs ago | The Age Rowdy Australian sparks plane hijack fear A drunk passenger has caused the closure of Bali's airport when a Virgin Australia pilot reported a hijacking attempt. 14 hrs ago | Canada.com Drunken passenger arrested in Bali after hijack scare on flight from Australia RACE PACKAGE PICKUP IS LOCATED AT BC PLACE STADIUM'S EAST ENTRANCE Individual race package pickup is at BC Place Stadium for three days only. 18 hrs ago | Iol.co.za Search for MH370 'may last for years' Sunherald.com
NewStatesman - Russell Brand on revolution IIn the summer of 1970, a 34-year-old Welsh artist with a shock of prematurely white hair and a thick, moustache-less goatee was asked by the Times to draw political cartoons during the general election campaign. Idealistic and mistrustful of authority, Ralph Steadman saw little that was likeable or even distinguishable in the Conservative Party’s Edward Heath and Labour’s Harold Wilson. But he had four children to support from a recently ended marriage and needed a steady income, so he accepted the assignment – and got on with causing offence. Steadman’s first cartoon for the newspaper, featuring the diminutive Mr Weath and Mr Hilson, as he named them, along with the Liberal Party leader, Jeremy Thorpe, was titled Happiness Is a Small Politician. The then Times editor, William Rees-Mogg, worried that the drawings were inflammatory, but others on the paper liked Steadman’s strange, savage style. Dear Ralph . . . The yellow pill made Steadman feel weird and brave. “Ralph, we must flee!”