Silicon Valley’s Youth Problem
New York Times – 7 hours ago
In start-up land, the young barely talk to the old (and vice versa). That makes for a lot of cool apps. But great technology? Not so much.
@TheStalwart: RT @conorsen: The NYT Mag #longread on what’s been lost as tech culture moved from Cisco/Intel to consumer apps: [link] cc:…
@counterparties: Silicon Valley’s youth problem: Engineers, money, and being over-the-hill at 35 [link]
@mccarthyryanj: "Smart kids want to work for a sexting app because other smart kids want to work for the same sexting app" [link]
@Techmeme: Why the growing rift between young and old in Silicon Valley is bad for everyone [link] [link]
@Alea_: Silicon Valley’s Youth Problem [link]
@davewiner: Silicon Valley’s Youth Problem. [link]
@raju: Silicon Valley’s "Youth" Problem: A lot of "cool" apps but not enough "great" technology: [link] via @nytimes
Money creation in the modern economy
Bank of England – 8 hours ago
@carney: This incredibly clear pamphlet is the most important thing on money you will read today [link]
@cullenroche: RT @Frances_Coppola: heh, @cullenroche & @traderscrucible, the Bank of England is now in your team.... [link]
reddit/Economics: Bank of England Piece on money creation in the modern economy
@TheStalwart: RT @bankofengland: In the modern economy, money is mostly created by banks making loans [link]
@M_C_Klein: Excellent explanation of where money comes from and what central banks do, via @bankofengland [link] Sumner should read it
@interfluidity: BoE offers an accurate, and therefore post-Keynesian-sounding, account of modern money creation. [link] ht @the_sky_above
@edwardnh: MUST READ: Money creation in the modern economy - Bank of England Quarterly Bulletin 2014 Q1 [link]
@wonkmonk_: RT @edwardnh: MUST READ: Money creation in the modern economy - Bank of England Quarterly Bulletin 2014 Q1 [link]
@Kiffmeister: RT @jonwaller: Bank of England: How money really works: [link]
Cash Abroad Rises $206 Billion as Apple to IBM Avoid Tax
Bloomberg – 10 hours ago
The largest U.S.-based companies added $206 billion to their stockpiles of offshore profits last year, parking earnings in low-tax countries until Congress gives them a reason not to.
@markgongloff: Total corp cash offshore is bigger than combined market caps of Apple, Exxon, Google, Berkshire, Walmart & GE [link]
Huffington Post: Corporate America Stashes $206 Billion Overseas, Fights Minimum Wage Hike, Is The Worst
Business Insider: US Multinationals Are Now Holding Nearly $2 Trillion Cash Overseas To Avoid Taxes
reddit/Economics: The largest U.S.-based companies added $206 billion to their stockpiles of offshore profits last year, parking earnings in low-tax countries until Congress gives them a reason not to
@nasiripour: RT @Yalman_BN: US companies pile up more cash overseas to avoid taxes [link] Why can’t govts coordinate policy to prevent s…
@pdacosta: What taxes? Largest U.S. multinationals have $1.95 trillion in profits stashed away overseas [link] by @markgongloff
@EddyElfenbein: Large US multinationals are sitting on nearly $2 trillion in cash held outside the US. Up 11.8% last year. [link]
@counterparties: Big US companies are holding nearly $2 trillion overseas to avoid US taxes (up nearly 12% last year) [link]
Wages of Fear (Somewhat Wonkish)
New York Times – 8 hours ago
A worrisome campaign against full employment.
@mccarthyryanj: "Almost all the talk about rising wages is driven by just one labor market indicator" - @NYTimeskrugman [link]
Business Insider: Why We Have To Keep Talking About Wage Growth And Rate Hikes
reddit/Economics: Wages of Fear: even though we still have huge unemployment, we’re actually running out of employable workers, and a dangerous acceleration in the pace of wage increases is already underway. Time to raise interest rates!
@M_C_Klein: Krugman enters into the labor market slack debate: [link]
@edwardnh: "if the Fed tightens prematurely, it could end up trapping us in Japanification" - @NYTimesKrugman [link]
@INETeconomics: "The only thing we have to fear is fear of employment itself" @NYTimeskrugman [link]
A few points on slack
The Economist – 4 hours ago
A DEBATE has broken out over just how close America is to full employment: over how much slack there is in labour markets. I recommend comments on the subject from...
@ObsoleteDogma: Every word of this last paragraph by @ryanavent [link]
@rortybomb: RT @JustinWolfers: .@ryanavent’s framing of the debate over labor market slack is a lesson in clear thinking. [link]
@JustinWolfers: .@ryanavent’s framing of the debate over labor market slack is a lesson in clear thinking. [link]
@moorehn: Labor mkt slack: econonerd obsession worth reading. Start with @ryanavent [link] and @CardiffGarcia [link]
@CardiffGarcia: RT @ryanavent: Disappointed that my point 8 didn’t turn into a smiley face with sunglasses like Cardiff’s point 8: [link]
Bitcoin exchange for high-frequency traders is launched The Wall Street Journal
MarketWatch – 4 hours ago
High-speed telecommunications provider Perseus Telecom and digital currency trading platform Atlas ATS formally launch Wednesday a globally integrated bitcoin exchange system in New York, Hong Kong and Singapore to facilitate trading in the...
@Alea_: Bitcoin exchange for high-frequency traders is launched [link]
@gusbaratta: What could possibly go wrong? RT @Alea_: Bitcoin exchange for high-frequency traders is launched [link]
@michaelsderby: Casino royale: high-frequency trading comes to bitcoin. [link]
@ChrisAdamsMKTS: RT @gusbaratta: What could possibly go wrong? RT @Alea_: Bitcoin exchange for high-frequency traders is launched [link]
@Kiffmeister: RT @Alea_: Bitcoin exchange for high-frequency traders is launched [link]
The FTC has opened an investigation into Herbalife [Update]
Financial Times – 2 hours ago
After we got in touch with the company to tell them we were writing this story, they halted trading and put out a statement confirming the investigation. The Federal Trade Commission has opened a formal investigation into Herbalife, the ...
@M_C_Klein: RT @TBraithwaite: Great work on $HLF by @FD who has lived, breathed and ingested the concoctions of the company [link]
@herbgreenberg: Very good reporting on $HLF by @FTAlphaville’s @FD, better known as Dan McCrum [link]
@counterparties: RT @tracyalloway: Well done to @FD for breaking the Herbalife investigation on @FTAlphaville [link]
@nasiripour: RT @TBraithwaite: Great work on $HLF by @FD who has lived, breathed and ingested the concoctions of the company [link]
@mccarthyryanj: RT @tracyalloway: Well done to @FD for breaking the Herbalife investigation on @FTAlphaville [link]
Why venture capitalists are suddenly investing in news
Quartz – 9 hours ago
Something curious is happening in the American news business. Media organizations are hiring again. Promising young reporters are leaving stalwart publications for new newsrooms. And venture capitalists are pouring millions into nimble publ...
Abnormal Returns: Wednesday links: how to get played
@StKonrath: Why venture capitalists are suddenly investing in news, by @AdrienneLaF h/t @JournalismBuzz [link]
@raju: RT @erichippeau: Not news for @lererventures (incl @huffpost and @buzzfeed): Why VCs are suddenly investing in news [link] …
@mccarthyryanj: "we felt the market was underserved in terms of one organization that covered all animals and all aspects of animals" [link]
Wall Street Bonuses Went Up In 2013, 3/12/14
state.ny.us – 6 hours ago
Office of the New York State Comptroller: Press Release
@counterparties: The average Wall St bonus was up 15% last year to $164,000. Highest since ’08. Full NYS report: [link]
@ErikSchatzker: Wall Street bonuses rose 15% in 2013 to average $164,530, highest since the financial crisis [link]
@tracyalloway: Average Wall Street bonuses rise to highest since the crisis thanks to job cuts, says @NYSComptroller ... [link]
@HamzeiAnalytics: RT @counterparties: The average Wall St bonus was up 15% last year to $164,000. Highest since ’08. Full NYS report: [link]
Weakening Economy or Just Bad Winter?
houseofdebt.org – 5 hours ago
Retail spending by households in January 2014 was a major disappointment, coming in well below expectations. January 2014 was also one of the coldest month...
@BCAppelbaum: The impact of cold weather on auto sales: [link] [link]
@davidmwessel: Auto sales in Jan were down >5% in states that were unusually cold; strong in states where temps were close to normal [link]
@JustinWolfers: Cold weather has held back auto sales, according to @AtifRMian and @ProfSufi. Expect a rebound [link] [link]
@DLeonhardt: Weak retail sales data seem to be mostly about the weather (& worth ignoring). @profsufi and @AtifRMian: [link]
@M_C_Klein: .@profsufi and @AtifRMian present solid evidence that weak data at beginning of the year due to weather: [link]
REPORT: FTC OPENS FORMAL INVESTIGATION INTO HERBALIFE
Business Insider – 2 hours ago
The Federal Trade Commission has opened a probe...
George Soros: Scotland sharing the pound after independence is ’impossible’
The Telegraph – 4 hours ago
One of the world’s leading businessmen questions Alex Salmond’s pound plan and says a new currency would be ’potentially dangerous’
@JacobWolinsky: Short again? George Soros: Scotland sharing the pound after independence is ’impossible’ [link] via @feedly
@Alea_: Soros: Scotland sharing the pound after independence is ’impossible’ [link]
@edwardnh: George Soros: Scotland sharing the pound after independence is ’impossible’ [link]
What is the Fed’s Real Inflation Target?
Macro and Other Market Musings – 3 hours ago
@ryanavent: RT @DavidBeckworth: What is the Fed’s actual inflation target? @ryanavent @mattyglesias [link]
@EconBrothers: What is the Fed’s Real Inflation Target? - In my last post I showed a figure that suggested the Fed has effect... [link]
@Noahpinion: RT @DavidBeckworth: What is the Fed’s actual inflation target? @ryanavent @mattyglesias [link]
A man and his signals
The Reformed Broker – 19 hours ago
Once upon a time there was an egotistical man who sold subscriptions to a stock market research product based on the premise that his "signals" could tell peopl
@ritholtz: @ReformedBroker A man and his signals [link] Great opening; I thought you were talking about someone else . . . .
@TheStalwart: Well done. RT @mark_dow: Excellent subtakedown! RT @ReformedBroker: A man and his signals [link]
Abnormal Returns: Wednesday links: how to get played
@IvanTheK: DJB on Joe Granville, the DJIA market timing carnival barker of his day. He got more pathetic as he got older, IMO[link]
@mark_dow: Excellent subtakedown! RT @ReformedBroker: A man and his signals [link]
In-Depth Report Details Economics of Sex Trade
New York Times – 11 hours ago
The landmark study, commissioned by the Justice Department, has provided a wealth of data on pricing, market structures and sex workers’ motivations.
@EmanuelDerman: Meredith Dank, rationally named author of an In-Depth Report on the Sex Trade [link]
reddit/Economics: "In-Depth Report Details Economics of Sex Trade" (in 8 U.S. cities)
@Alea_: “Pimps are like eagles” [link]
@TimHarford: "In-Depth Report Details Economics of Sex Trade" - @AnnieLowrey summarises [link]
Marginal Revolution: Lots of assorted links today
Sergey Brin and Amanda Rosenberg: Inside the Google Co-Founder’s Romance with the Google Glass Marketing Manager
Vanity Fair – 2 hours ago
The high-profile love triangle involving Sergey Brin, Anne Wojcicki, and Amanda Rosenberg has Silicon Valley facing emotional issues, from office romance to fear of mortality.
Paper Trading Stocks: Why You Should Avoid It
about.com – 2 hours ago
Paper trading is often thought of as a way to get good at investing without having any risk. But it may actually cost you more money in the end.
Trading Rule #9 - Blame is for Losers - Kid Dynamite’s World
Kid Dynamite – 6 hours ago
Blame is for Losers - Take Responsibility for your decisions and actions
@howardlindzon: RT @KidDynamiteBlog: Trading Rule #9 - Blame is for Losers Kid Dynamite’s World [link] featuring @howardlindzon @eradke @En…
Abnormal Returns: Wednesday links: how to get played
@abnormalreturns: "Own your mistakes. Learn from them.“ MT @KidDynamiteBlog: Trading Rule #9 - Blame is for Losers Kid [link] $$
What Stanley Fischer Did at the IMF
bloombergview.com – 5 hours ago
Stanley Fischer has been nominated to be the vice chairman of the Federal Reserve Board. But senators should query him during his confirmation hearing about his time as No. 2 at the International Monetary Fund.
Offshore Profits Avoid IRS Reach
Bloomberg – 6 hours ago
Profits Parked Offshore Beat IRS Reach @BBGVisualData
Yuan Dive? by Barry Eichengreen
Project Syndicate – 9 hours ago
Since December, when the US Federal Reserve began tapering its monthly purchases of long-term assets, emerging-market currencies have fallen across the board, with the Chinese renminbi recently joining the trend. But when it comes to the re...
@davidmwessel: Eichengreen: Watch the PBOC, not the Fed. [link] via @po_st
@B_Eichengreen: Yuan dive? Why the Chinese currency has been falling. [link] . My new column at Project Syndicate.
@CMEGroup: . @B_Eichengreen offers two explanations for the renminbi’s depreciation in recent weeks via @ProSyn [link]