Switzerland and Singapore are among the most expensive places in the world to grab a mug of coffee—overpriced as it already is in the United States. But there's more to the matter than mere inconvenience for tourists. The Wall Street Journal reports on Starbucks becoming an indicator of currency trouble.
The financial community uses dozens of metrics to determine how much a currency should be worth—and which currencies to buy and sell. These often tell starkly different stories. One measure created by the Council on Foreign Relations shows the U.S. dollar is 11% overvalued.
A rival to the Starbucks index is the Big Mac index, as devised by The Economist. Finding it inadequate, the Council on Foreign Relations came up with a Mini Mac index, with the international prices of Apple gadgets as the benchmark: "Minis are a global product that, unlike Big Macs, can move quickly and cheaply around the world."
Photo: Camila Tamara Silva Sepúlveda (cc)
3.8m workers signed on for the first time last week, bringing America’s unemployed headcount to 30m. The number of new filers was down from 4.4m last week, a slow dropoff that suggests layoffs will continue at an unprecedented scale for weeks to come. Roughly 30.3 million people have now filed for jobless aid in the […]
I’m a huge fan of GiveDirectly, who does tremendous work with direct cash transfers for people in poverty — essentially, micro-scale experiments in Universal Basic Income, with long-term data impact studies. As they describe themselves: GiveDirectly is the first — and largest — nonprofit that lets donors like you send money directly to the world’s poorest. […]
I have, several times, heard the reasonable-sounding theory that America’s at work pooping minimized the need for THAT MUCH retail toilet paper. Purportedly there are tons and tons of business-grade TP piling up unused. What Everyone’s Getting Wrong About the Toilet Paper Shortage There’s another, entirely logical explanation for why stores have run out of […]
You probably have a lot of items in your home that you’d hate to lose to theft or damage. While certainly no one ever hopes to fall victim to a natural disaster or home invasion, you need to be prepared just in case it does happen. When it comes to choosing a reliable renters insurance, […]
The average US household replaces their mattress about every seven years. So if it’s been more than that, or even a lot more than that, it might be time to invest in a new slumber HQ. And most sleep experts will tell you the right mattress really should be looked at as an investment. Because […]
If there’s any knock on most smartwatches, up to and including the industry-leading Apple Watch, it’s probably that the bands aren’t…well, they aren’t usually the greatest. While Apple is certainly making strides in the watchband game, most models are just as black, boring and nondescript as you’d expect from a tech company. And where many […]