- ECB raises interest rates to 1.5%.
- US private sector jobs rose by 157,000.
- Pork prices are at a seven year high in China and are probably stimulating expansion -- need for soy meal and corn?
- Australia's jobless rate remains at 4.9 % in June for a second month in a row
- A unit of Goldman Sachs took the biggest, $15 billion, single loan from a Federal Reserve lending program whose details have been secret until now.
- (Bloomberg) Lehman Brothers Holdings Inc. (LEHMQ)’s brokerage borrowed as much as $18 billion in four separate loans from a previously secret program of the U.S. Federal Reserve in June 2008, three months before its parent filed the biggest bankruptcy in U.S. history.
- Source: IT world — Jun 28, 2011
- Once upon a time, the United States led the world in science, inventions, research and development, and technology. Here’s how the U.S. went from world leader to world loser, according to IT World writer Carla Schroder:
- Patents: When you can’t innovate, litigate. Software patents are a drag on progress.
- Education: The U.S. ranks 14th out of 34 OECD countries for reading skills, 17th for science, and a below-average 25th for mathematics.
- Obesity: The U.S. holds the world title for most obesity, at 30.6% of the population.
- Sad “Green” Technology Policies: Our elected persons are doing a fine job at blocking any sort of actual forward movement in modern green tech, and the rest of the world is cleaning our clocks.
- Investing in Prisons, Domestic Spying, and Bombs: The U.S. has the highest percentage of citizens in prison of any country on the planet.
- However, the U.S. can compete by increasing R&D funding by private industry and by taking more effective advantage of the Internet for access to information, easy sharing, easy distribution, and distributed projects, she suggests.
- The World Trade Organization ruled that China's curbs on exports of raw materials are illegal, upholding a complaint lodged by the United States, the European Union and Mexico.
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