UPDATE: Nope, I can't find the Niall Ferguson recantation of the 10%/year inflation claim. Can anybody help?
Paul Krugman writes:
Regions of Derpistan: Niall Ferguson declaring that we really do have inflation, but the feds are spiriting it away in their black helicopters and burying it in Area 51…
Rolls-Royce has been accused of bribery in the multi-billion dollar corruption scandal surrounding Brazil’s state-run oil producer, Petrobras.
The British engineering firm, which designs and manufactures power systems through its subsidiaries, was one of the suppliers of gas turbines used on Petrobras SA’s oil platforms. According to allegations, Rolls Royce paid bribes to Petrobras executives through an agent to win a $100 million Petrobras contract.
And, alas! still no sign he is marking his beliefs to market. And he really, really, really, really should never have written "the CPI is losing credibility [because it] is… as economist John Williams tirelessly points out…a bogus index. The way inflation is calculated by the Bureau of Labor Statistics has been “improved” 24 times since 1978. If the old methods were still used, the CPI would actually be 10 percent."
BEIJING — A Chinese whistleblower holding secretly filmed sex tapes featuring city bureaucrats has come under pressure from police to hand them over for an investigation into an embarrassing scandal that has already ousted 11 officials.
Police questioned Zhu Ruifeng, a former journalist who triggered the scandal in the southwestern city of Chongqing, for seven hours Monday about the tapes and said he could be liable for prosecution if he did not surrender them.
His resignation from the satellite broadcaster comes ahead of a government report expected to be critical of his handling of the ethics scandal at News Corp.'s British tabloids.James Murdoch's resignation as chairman of satellite broadcaster British Sky Broadcasting comes ahead of a government report expected to be critical of his handling of the ethics scandal at News Corp.'s British tabloids.
US tabloid newspapers including ones owned by Rupert Murdoch's News Corporation are less aggressive than their British counterparts, partly due to readers' differing demands, experts say.In general US readers want fewer of the salacious details which British tabloids dish up, including via questionable ethical methods such as those highlighted in the current storm over phone hacking.