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	<title>Tom Spencer consulting blog &#187; Economics</title>
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	<link>http://www.tomspencer.com.au</link>
	<description>Management Consulting &#38; Business Strategy</description>
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		<title>Interest rate on 10 year government bonds</title>
		<link>http://www.tomspencer.com.au/2011/12/13/interest-rate-on-10-year-government-bonds/</link>
		<comments>http://www.tomspencer.com.au/2011/12/13/interest-rate-on-10-year-government-bonds/#comments</comments>
		<pubDate>Tue, 13 Dec 2011 13:45:16 +0000</pubDate>
		<dc:creator>Tom Spencer</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[10 year government bonds]]></category>
		<category><![CDATA[consulting]]></category>
		<category><![CDATA[government bonds]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[Italy]]></category>
		<category><![CDATA[Management consulting]]></category>
		<category><![CDATA[Spain]]></category>

		<guid isPermaLink="false">http://www.tomspencer.com.au/?p=6653</guid>
		<description><![CDATA[A picture says a thousand words BACK IN 1995, which country had the second highest 10 year government bond yield? As Europe&#8217;s third largest economy, Italy is too big to bail out.  Past performance is not a predictor or future performance.  However, if historical bond yields provide us with any insight about the Europe&#8217;s future, [...]<div class="addthis_toolbox addthis_default_style " addthis:url='http://www.tomspencer.com.au/2011/12/13/interest-rate-on-10-year-government-bonds/' addthis:title='Interest rate on 10 year government bonds '  ><a class="addthis_button_facebook_like" fb:like:layout="button_count"></a><a class="addthis_button_tweet"></a><a class="addthis_button_google_plusone" g:plusone:size="medium"></a><a class="addthis_counter addthis_pill_style"></a></div>]]></description>
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		<title>US Unemployment Rate Drops: good news?</title>
		<link>http://www.tomspencer.com.au/2011/12/09/us-unemployment-rate-drops-good-news/</link>
		<comments>http://www.tomspencer.com.au/2011/12/09/us-unemployment-rate-drops-good-news/#comments</comments>
		<pubDate>Fri, 09 Dec 2011 03:20:30 +0000</pubDate>
		<dc:creator>Tom Spencer</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[consulting]]></category>
		<category><![CDATA[discouraged worker]]></category>
		<category><![CDATA[labour force]]></category>
		<category><![CDATA[Management consulting]]></category>
		<category><![CDATA[unemployment]]></category>
		<category><![CDATA[unemployment rate]]></category>

		<guid isPermaLink="false">http://www.tomspencer.com.au/?p=6423</guid>
		<description><![CDATA[Recent improvements in the unemployment rate have come from people dropping out of labour force THE unemployment rate in the US has dipped to its lowest level in more than 2 years (source: NYT). Is this good news? Before answering this question, it would help to understand exactly how the US Bureau of Labor Statistics [...]<div class="addthis_toolbox addthis_default_style " addthis:url='http://www.tomspencer.com.au/2011/12/09/us-unemployment-rate-drops-good-news/' addthis:title='US Unemployment Rate Drops: good news? '  ><a class="addthis_button_facebook_like" fb:like:layout="button_count"></a><a class="addthis_button_tweet"></a><a class="addthis_button_google_plusone" g:plusone:size="medium"></a><a class="addthis_counter addthis_pill_style"></a></div>]]></description>
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		<title>Monkey Economy</title>
		<link>http://www.tomspencer.com.au/2011/12/07/monkey-economy/</link>
		<comments>http://www.tomspencer.com.au/2011/12/07/monkey-economy/#comments</comments>
		<pubDate>Wed, 07 Dec 2011 11:31:11 +0000</pubDate>
		<dc:creator>Tom Spencer</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[consulting]]></category>
		<category><![CDATA[excessive consumption]]></category>
		<category><![CDATA[Management consulting]]></category>
		<category><![CDATA[monkey economy]]></category>
		<category><![CDATA[trading]]></category>

		<guid isPermaLink="false">http://www.tomspencer.com.au/?p=6604</guid>
		<description><![CDATA[http://www.youtube.com/watch?v=J8449HgS3FM Monkeys learn to use money &#8211; what can we learn? ASSOCIATE PROFESSOR of Economics Keith Chen taught a bunch of monkeys to use money. What he discovered was that not only could the monkeys learn to understand the value of money and how to use it, they were also very good at changing their consumption [...]<div class="addthis_toolbox addthis_default_style " addthis:url='http://www.tomspencer.com.au/2011/12/07/monkey-economy/' addthis:title='Monkey Economy '  ><a class="addthis_button_facebook_like" fb:like:layout="button_count"></a><a class="addthis_button_tweet"></a><a class="addthis_button_google_plusone" g:plusone:size="medium"></a><a class="addthis_counter addthis_pill_style"></a></div>]]></description>
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		<title>US Unemployment Rate Systematically Understated</title>
		<link>http://www.tomspencer.com.au/2011/12/05/us-unemployment-rate-systematically-understated/</link>
		<comments>http://www.tomspencer.com.au/2011/12/05/us-unemployment-rate-systematically-understated/#comments</comments>
		<pubDate>Mon, 05 Dec 2011 03:30:58 +0000</pubDate>
		<dc:creator>Tom Spencer</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[consulting]]></category>
		<category><![CDATA[Discouraged workers]]></category>
		<category><![CDATA[Management consulting]]></category>
		<category><![CDATA[Passive job search]]></category>
		<category><![CDATA[unemployment]]></category>
		<category><![CDATA[US Bureau of Labor Statistics]]></category>

		<guid isPermaLink="false">http://www.tomspencer.com.au/?p=6567</guid>
		<description><![CDATA[RECENT falls in the officially reported US unemployment rate are an optimistic sign.  That said, it is worth remembering that the official US unemployment rate (currently around 9.1%) systematically understates the &#8220;real&#8221; unemployment rate. This is not a new phenomenon, and occurs because of the particular way in which the US Bureau of Labor Statistics chooses [...]<div class="addthis_toolbox addthis_default_style " addthis:url='http://www.tomspencer.com.au/2011/12/05/us-unemployment-rate-systematically-understated/' addthis:title='US Unemployment Rate Systematically Understated '  ><a class="addthis_button_facebook_like" fb:like:layout="button_count"></a><a class="addthis_button_tweet"></a><a class="addthis_button_google_plusone" g:plusone:size="medium"></a><a class="addthis_counter addthis_pill_style"></a></div>]]></description>
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		<title>Death to Pennies</title>
		<link>http://www.tomspencer.com.au/2011/12/05/death-to-pennies/</link>
		<comments>http://www.tomspencer.com.au/2011/12/05/death-to-pennies/#comments</comments>
		<pubDate>Sun, 04 Dec 2011 14:13:31 +0000</pubDate>
		<dc:creator>Tom Spencer</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[consulting]]></category>
		<category><![CDATA[deflation]]></category>
		<category><![CDATA[inflation]]></category>
		<category><![CDATA[Labour market flexibility]]></category>
		<category><![CDATA[liquidity trap]]></category>
		<category><![CDATA[Management consulting]]></category>
		<category><![CDATA[physical capital]]></category>

		<guid isPermaLink="false">http://www.tomspencer.com.au/?p=6439</guid>
		<description><![CDATA[http://www.youtube.com/watch?v=y5UT04p5f7U Inflation erodes the value of real currency ECONOMISTS tend to favour a small positive rate of inflation, and there are 4 reasons why this makes sense: Labour market flexibility: inflation allows relative real wages to adjust even if nominal wages do not move.  A company that tries to pay workers less money is likely to [...]<div class="addthis_toolbox addthis_default_style " addthis:url='http://www.tomspencer.com.au/2011/12/05/death-to-pennies/' addthis:title='Death to Pennies '  ><a class="addthis_button_facebook_like" fb:like:layout="button_count"></a><a class="addthis_button_tweet"></a><a class="addthis_button_google_plusone" g:plusone:size="medium"></a><a class="addthis_counter addthis_pill_style"></a></div>]]></description>
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