Hundreds of photos and videos of naked women used as collateral for loans on a Chinese online lending service have leaked onto the web, highlighting regulatory problems in the fast-growing peer-to-peer marketplace.
A 10-gigabyte file posted on the internet exposed the personal details of more than 160 young women who were asked to provide the explicit material to secure money through online lending platform Jiedaibao.
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Time For Truth: (Yahoo News) – Naked selfies used as collateral for Chinese loans
The governor of the Bank of England has issued a rallying cry to policymakers across advanced economies to tackle the causes of a growing sense of “isolation and detachment” among people who feel left behind by globalisation.
Warning that the UK was suffering its “first lost decade since the 1860s”, Mark Carney said that one of the reasons for the Brexit vote was a sense among people that they had lost control of their futures.
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Time For Truth: (The Guardian) – Mark Carney: we must tackle isolation and detachment caused by globalisation
U.S. consumer prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pickup in inflation that
potentially clears the way for the Federal Reserve to raise interest rates in December.
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Time For Truth: (Reuters) – U.S. consumer prices post largest gain in six months
Research has documented that central banks around the world have been better able to control inflation if they enjoy independence from elected officials. The election of Donald Trump seems like a good time to remind ourselves that, historically, the executive branch has presented the greatest threat to the independence of the U.S. Federal Reserve.
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Time For Truth: (Bloomberg) – How Trump Could Spell Trouble for the Fed
The classic line about financial markets is that they can deal with good news and they can deal with bad news, but they just can’t handle uncertainty.
By that reckoning, it’s a wonder markets aren’t in full-blown cardiac arrest right now. There’s the bizarre drama and uncertainty of the presidential race, of course. But add to that a host of other unknowns that may have much more bearing on the economy and your finances than whoever wins the White House.
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Time For Truth: (LA Times) – Protect your money: Look out for these uncertainties looming over the economy