27 February, 2015 by The TZ Newswire Staff Comments Off on Self-Aware? World’s Largest Hedge Fund Shifts Strategy To Artificial Intelligence
Self-Aware? World’s Largest Hedge Fund Shifts Strategy To Artificial Intelligence
Despite warnings from the likes of Elon Musk and Stephen Hawking (and of course, Sarah Connor), Ray Dalio’s $165 billion AUM hedge fund Bridgewater will start a new, artificial-intelligence unit next month.
27 February, 2015 by The TZ Newswire Staff Comments Off on China And The Dragon Tail Of Marx
China And The Dragon Tail Of Marx
Submitted by Charles Hugh-Smith of OfTwoMinds blog,
The dragon tail of Marx’s end-game of overcapacity and finance capital is about to shred China’s fantasy that the state can micro-manage both capitalism and financialization with no contradictions or consequences.
27 February, 2015 by The TZ Newswire Staff Comments Off on Long and variable leads (a reply to Tony Yates)
Long and variable leads (a reply to Tony Yates)
Tony Yates expresses shock that someone calling himself a market monetarist could reject Milton Friedman’s famous “long and variable lags” claim about monetary policy.
27 February, 2015 by The TZ Newswire Staff Comments Off on U.S. economy slowed in fourth quarter, but growth outlook still favorable
U.S. economy slowed in fourth quarter, but growth outlook still favorable
U.S. economic growth braked more sharply than initially thought in the fourth quarter amid a moderate increase in business inventories and a wider trade deficit, but strong domestic demand brightened the outlook. Gross domestic product expanded at a 2.2 percent annual pace, revised down from the 2.6 percent pace estimated last month, the Commerce Department said on Friday. The economy grew at a 5 percent rate in the third quarter. Businesses accumulated $88.4 billion worth of inventory in the fourth quarter, far less than the $113.1 billion the government had estimated last month.
27 February, 2015 by The TZ Newswire Staff Comments Off on Dudley, top U.S. economists urge later Fed rate hike
Dudley, top U.S. economists urge later Fed rate hike
Raising interest rates too late is safer than acting too early, an influential Federal Reserve official said on Friday, endorsing a high-profile research paper that argues the U.S. economy, given time, can rebound to the strong growth rate to which Americans are accustomed. The paper by four top U.S. economists, presented on Friday to a roomful of powerful central bankers in New York, argues the Fed would be wise to keep rates at rock bottom for longer than planned and then tighten monetary policy more aggressively.
27 February, 2015 by The TZ Newswire Staff Comments Off on Lockheed, Sikorsky venture awarded $2.0 billion helicopter support deal
Lockheed, Sikorsky venture awarded $2.0 billion helicopter support deal
The U.S. Navy has awarded a joint venture of Lockheed Martin Corp and Sikorsky Helicopter a contract worth $2 billion to service the Navy’s H-60 helicopters through Jan. 31, 2020, the Pentagon announced …
27 February, 2015 by The TZ Newswire Staff Comments Off on Icahn’s investment fund posts first loss since 2008 on oil plunge
Icahn’s investment fund posts first loss since 2008 on oil plunge
Billionaire activist investor Carl Icahn’s publicly traded investment fund posted its first annual loss since 2008 last year, undone by plummeting oil prices, the company said in a regulatory filing on Friday. Results were hurt by a halving of oil prices between June and December amid a global supply glut. “This year’s results were obviously disappointing, with the precipitous decline in oil prices impacting the profitability of many of our segments,” Icahn said in a statement.