7 July 2018 FT — Articles to Read

7 July 2018

Question: According to BestLife, what are 15 signs you’re old fashioned?

China takes on ‘trade bully’ Trump – Pg. 1

–          Beijing accused Donald Trump of “trade bullying” as it imposed retaliatory tariffs against new US duties on $34bn of Chinese imports yesterday in the biggest escalation so far of a trade war between the two largest economies

–          The consequences of a dispute that could threaten global supply chains have alarmed governments and multinational corporations

–          …China is targeting US farm and energy exports, including soyabeans, …

–          The US added 213,000 jobs in June, including 36,000 jobs in the manufacturing sector at the heart of Mr Trump’s trade efforts.  It also saw 600,000 people rejoin the labour force

US labour market draws 600,000 new jobseekers – Pg. 4

–          Participation in the US labour market surged as workers who had been sidelined from employment stated looking for a job again

–          …the percentage of the US population in work or looking for work rising 0.2% to 62.9%.  The rise in the supply of workers helped to push the unemployment rate back up to 4%, marking the first increase in the number in almost a year following May’s 18-year low of 3.8%.  It also weighed on wage growth…which rose 2.7% from a year ago, below expectations

Lawsuits alone will not stop the US opioid epidemic – Pg. 9

–          States, counties and cities have filed lawsuits accusing the industry of masking the risks of opioid painkillers while using aggressive tactics to boost their sales

–          …OxyContin…known as “heroin of pill” …

–          The sad fact about smokers who develop lung cancer is that many die quickly, so their impact on public finances falls to zero

–          …42,200 died from overdoes in 2016 – but many of the 2.6m Americans with opioid abuse disorders will cycle in and out of addiction for decades, which will put long-term strain on public services

–          A recent report estimate that the crisis is costing Ohio up to $8.8bn a year – more than its annual budget for primary and secondary education combined

–          ….many people suffering from opioid addiction have since progressed from prescription painkillers to heroin

–          When President Donald Trump declared a public health emergency last year instead of a national emergency, the subtle difference meant there was no release of federal funds

Calls for Fed to rethink monetary policy framework as it unwinds balance sheet – Pg. 13

–          The Federal Reserve needs to reassess the technical implementation of monetary policy “before too long”, …

–          The interest on excess reserves (IOER) acts as a ceiling for the fed funds rate and policymakers deemed it necessary to lower the ceiling in response to the effective fed funds rate rising close to the top of the target range

–          The US Treasury has been selling more short-term debt into the market as the Fed has withdrawn as a buyer

Answer: (1) You dress to the nines when you go out (Prof Note: No issue here); (2) Your house is covered in doilies (Prof Note: Nope); (3) You address everyone as either “sir” or “ma’am” (Prof Note: Nope); (4) Every piece of art in your house is a portrait of a dead relative (Prof Note: Only on Nevis and that is a single piece of art dedicating the house to my grandfather who built it); (5) Walks are your primary form of entertainment (Prof Note: I do enjoy my afternoon constitutional on Nevis); (6) You ask people out for dates in person (Prof Note: What?  No swipe?! J); (7) You use words like “jalopy” and “keen” (Prof Note: Guilty); (8) Your grooming routine involves a lot of oils and wax (Prof Note: What grooming routine?!); (9) Your sleepwear covers most of your body (Prof Note: No comment); (10) Your preferred cooking methods don’t require fancy technology (Prof Note: Open a can, pour, heat, done); (11) You regularly handwrite letters (Prof Note: I am working hard on doing this more often); (12) Every sickness is treated with extreme heat; (13) A deck of cards can keep you busy all night; (14) You wear a different hat for every occasion (Prof Note: I do wear hats all winter…but my head gets cold otherwise); (15) Modern movies aren’t to your liking (Prof Note: Agree!) (Prof Note: It appears I am “hip”!)