Another outstanding animation from Taiwan’s Next Media. Just hope this is comedy..
[via The Business Insider]
Looking past the pessimistic outlook from Nouriel Roubini and other double-dipping bears; experienced trader Scott Grannis equip his readers with optimistic numbers to balance the scale:
“The collection of charts that to me point to ongoing economic growth, however mild that might be, with not a hint of a double-dip recession. All charts contain the latest data available, and they are shown in no particular order. I’ve discussed all of these in recent posts, so for long-time readers this just a recap of how I see things today.”
Follow Grannis full opinion, discuss, and see the other graphs on his blog: 20 Bullish Charts. I also recommend today’s WSJ article The Case for Optimism, by executive director at the Milken Institute, Ross Devol.
Stock jumps almost 7% intraday trading due to wider margins; 21% increase in first-half net profit follow the management-led cost cutting plan. High-End segment and sales in Emerging Markets are growing:
“First-half profit was helped by growth in Asia and Latin America and recovering sales of luxury fragrances. Net income rose to 1.32 billion euros, from 1.09 billion euros a year earlier. That compared with the 1.37 billion-euro average of 11 analyst estimates compiled by Bloomberg.”
Quote via MarketWatch.
“Switzerland‘s healthcare system is fundamentally a compulsory insurance system – like the compulsory insurance system we have in the UK for our car insurance. You have to insure yourself or your family for a basic package of healthcare services. The premiums are the genuine price for that insurance, and are not related to income. You can shave off some of the cost of those premiums by taking a higher excess – meaning that if you do need treatment, you will pay more out of your own pocket. A typical policy might cost a family £2,000-£3,000 a year, but if you can’t afford that, the state steps in by paying the premium for you. There is also a state-funded disability benefits programme.
The insurers are competitive, but they are not allowed to make profits on these basic healthcare package policies. However, most people also buy voluntary top-up policies, on which the insurers can make a profit.”
Full story from The Adam Smith Blog here.
Judging by the graph, Swiss healthcare costs are high, passed only by oil funded Norway and U.S in OECD. For U.S, the Swiss alternative is probably easier to transfer to, but some contradict that it is a good idea – like political commentator Ezra Klein. You find Klein’s remarks here.
“Philippine economic growth unexpectedly accelerated in the second quarter to the fastest pace in three years as consumer and government spending countered weaker farm output.
Gross domestic product increased 7.9 percent from a year earlier, compared with a revised 7.8 percent gain in the three months through March, the National Statistical Coordination Board said in Manila today. That’s faster than the 6.3 percent median forecast of 14 economists surveyed by Bloomberg News, and is the fastest pace since the second quarter of 2007.”
Full Story on Bloomberg: Philippine Growth Unexpectedly Quickens to Fastest Pace in Three Years.
Related from Bloomberg – Asians travel more: Air China Profit Jumps 60% on Travel Rebound, Hedging Gains.
“Generally, citizens of rich countries and trade-based economies have more freedom to travel than those of countries suffering from war or repression. Compare, for instance, the restrictions on South Korea with North Korea and Hong Kong with those on China.”
Get more on The Economist web here.