Eurozone peripheral nations see interest bill climb
Financial Times – 3 hours ago
The eurozone periphery countries will have to pay more than €130bn this year just to meet the interest payments of their mounting debts, a servicing burden almost three times as high as the rest of the single currency area. The figures – ca...
@ObsoleteDogma: Portugal is spending more on interest than on education [link] by @RobinWigg
@ezraklein: RT @ObsoleteDogma: Portugal is spending more on interest than on education [link] by @RobinWigg
@FGoria: Eurozone peripheral interest bills climb[link]
@mhewson_CMC: Eurozone peripheral nations see interest bill climb: [link] #FT
Taking on Adam Smith (and Karl Marx)
New York Times – 23 hours ago
Marginal Revolution: Assorted links
@spignal: You could read Piketty, or you could read @StevenErlanger profile of Piketty. Latter is easier.[link]
reddit/Economics: Taking on Adam Smith (and Karl Marx) - NYTimes.com
@vali_nasr: Capitalism backlash: a new look at economics that takes on Adam Smith (and Karl Marx) [link]
@morningmoneyben: Piketty is so hot right now. Piketty. So hot. Right now. [link]
@moorehn: Good profile of Piketty and his decolletage. [link]
In Cold War Echo, Obama Strategy Writes Off Putin
New York Times – 20 hours ago
President Obama wants to isolate Russia by cutting off its economic and political ties to the outside world, limiting its expansionist ambitions and effectively making it a pariah state.
@firstadopter: Obama Writes Off Putin [link] <-this article makes it sound like Obama just wants to move on from Ukraine & change subject
@johngapper: "Ukraine, he tells people, is not a major concern for most Americans" [link]
@davidmwessel: RT @RichardHaass: Obama admin right to adopt containment vs #Russia; focus needs to be on gaining European backing. [link]
@JacobWolinsky: Hard not to chuckle at this... Obama tries to emulate George Kennan on Russian policy [link]
@ianbremmer: Containing Russia? Not a workable strategy.. [link]
The PhD Deluge
priceonomics.com – 10 hours ago
To support its research, academia has created a flood of PhDs who fare poorly in the job market.
A UK housing bubble or something else?
Sober Look – 14 hours ago
Abnormal Returns: Sunday links: lucky or smart
@prieur: A UK housing bubble or something else? via @SoberLook [link]
@EconBrothers: RT @SoberLook: Post: "A UK housing bubble or something else?" - [link]
@FGoria: RT @tylercowen: London real estate prices *are* in fact looking more bubbly these days, [link]
@tylercowen: London real estate prices *are* in fact looking more bubbly these days, [link]
Barclays to wind down commodities trading
Financial Times – 4 hours ago
Barclays, one of the world’s biggest commodities traders, is planning to exit large parts of its metals, agricultural and energy business in a move expected to be announced this week. The shake-up comes as commodity trading suffers a sharp ...
Investigating Family’s Wealth, China’s Leader Signals a Change
New York Times – 18 hours ago
A corruption inquiry targeting the retired Communist Party leader Zhou Yongkang and his family could challenge a tacit rule that has allowed elite clans to accumulate vast wealth.
@Dasan: Fascinating. Investigating Family’s Wealth, China’s Leader Signals a Change, via @nytimes [link]
@larsonchristina: Investigating Family’s Wealth, China’s Leader Signals a Change: [link] @PekingMike @ChuBailiang @jansfield on Zhou Yongkang
@gadyepstein: NYT links Zhou Yongkang’s family to at least $160m (& prob much more) [link] by @PekingMike @ChuBailiang @jansfield @amyyqin
@prchovanec: RT @limlouisa NYT finds wealth of Zhou Yongkang’s extended family = $160mn. 1/3 of last Politburo SC worth $150mn+ [link]
@niubi: RT @larsonchristina: Investigating Family’s Wealth, China’s Leader Signals a Change: [link] @PekingMike @ChuBailiang @jansf…
Swedish central bankers and Korean ferryboat captains
themoneyillusion.com – 22 hours ago
@delong: RT @MikePMoffatt: Sumner nails it - Sweden shows why using monetary policy to pop housing bubbles is a bad idea: [link]
@ObsoleteDogma: "You can’t ’get in all the cracks’ without hitting AD hard” [link]
@Noahpinion: Scott Sumner: Don’t use monetary policy to pop bubbles: [link] I tend to agree.
Wall Street deregulation pushed by Clinton advisers, documents reveal
theguardian.com – 1 day ago
Previously restricted papers reveal attempts to rush president to support Act, later blamed for deepening banking crisis
@mark_dow: Highwater mrk of Free-market belief MT @moorehn:How Rubinites at Treas bullied Clinton into dismantling Glss-Steagall [link]
@anatadmati: Clinton advisor, 1997 asserts: "we’re pretty good at walling off the bank to protect the taxpayers." Eat the words!? [link]
@Convertbond: Who Made the Big Banks an Explosive Systemic Risk? [link]
@edwardnh: Wall Street deregulation pushed by Clinton advisers, documents reveal - [link]
@ryanchittum: RT @FrankPasquale: “Please eat this paper after you have read this,” joked the unrepentant deregulator [link]
Naked Capitalism: Links 4/20/14
Barrick and Newmont still open to $30bn merger
Financial Times – 8 hours ago
The world’s two largest producers of gold are still considering ways to pursue a $30bn merger, despite halting advanced talks over a potential tie up on Friday. Barrick Gold and Newmont Mining had been discussions over a deal that could hav...
LRB · David Runciman · The Stuntman: Branson
lrb.co.uk – 1 day ago
Richard Branson is the mirror image of a Russian oligarch. This is not to say that where they are bad, he is good. If even half the things in Tom Bower’s new biography are true, Branson is far from being good. He is playing the same game as...
When It Comes to Generating Jobs It Pays Not to Listen to the Experts
cepr.net – 1 day ago
It is remarkable that no country has outlawed economics as a dangerous occupation on a par with drug dealing or murder for hire. The damage done to the world over the last seven years based on policies designed by economists has been incred...
Naked Capitalism: Links 4/20/14
@Noahpinion: RT @DeanBaker13: Japan and Germany show that if the point is created jobs it’s best to ignore economic orthodoxy [link]
@edwardnh: Of rich countries only Germany and Japan have higher employment to population ratios today than at start of downturn [link]
Including the Young and the Rich
New York Times – 1 day ago
The White House hosts “next generation” philanthropists about to step into billions.
@kevinroose: Great NYT editorial in favor of raising the estate tax, wait no am I misreading this? [link]
Marginal Revolution: Assorted links
@spignal: RT @adwooldridge: The disclosure in this rather nauseating piece is priceless, Including the Young and the Rich [link]
@johngapper: RT @adwooldridge: The disclosure in this rather nauseating piece is priceless, Including the Young and the Rich [link]
@LaurenYoung: How @whitehouse is Including the Young and the Rich [link]
@ezraklein: Shot: [link] Chaser: [link]
@ObsoleteDogma: Patrimonial capitalism isn’t quite here yet, but it’s coming [link] HT @haroldpollack
@EmanuelDerman: RT @umairh: Oligarchy? Feudalism? Where? “@billmon1: NYT: "White House Hosts ‘Next Generation’ Young and Rich"[link]”
@davewiner: RT @pbump: It is impossible to find a more concise manifestation of privilege than this. [link] via @davewiner
When Diamonds Are Dirt Cheap, Will They Still Dazzle?
New York Times – 21 hours ago
Technology has the potential to affect the value of items that are now rare and expensive, everything from diamonds to paintings and autographs.
This graduation speech teaches you everything you need to know about economics in 297 words
vox.com – 1 day ago
This graduation speech teaches you everything you need to know about economics. And it does so very, very quickly.
@GTCost: That’s my old prof! RT @prfnv: Everything you need to know about economics, in 297 words [link] ht @wadhw v/@ezraklei
@tomkeene: RT @UnlearningEcon: Tom Sargent talking shit as usual: [link]
@Noahpinion: Right-wing clickbait RT @voxdotcom One of the greatest, shortest introductions to economics — and to life: [link]
reddit/Economics: This graduation speech teaches you everything you need to know about economics in 297 words.
@ezraklein: Everything you need to know about economics, in 297 words [link]
Forget Passive vs. Active--Here’s How To Evaluate Any Investment Strategy
millennialinvest.com – 1 day ago
Burton Malkiel has a new piece up on Wealthfront’s website calling smart beta strategies into question. It’s a very interesting and hot debate at the moment, and Malkiel’s perspective is worth a read—many of his points are important t...
@abnormalreturns: Good points all. RT @millennial_inv: Forget passive vs. active--here’s how to evaluate any investment strategy: [link] $$
@cullenroche: Good thoughts here. RT @millennial_inv: Forget passive vs. active--here’s how to evaluate any investment strategy: [link]
@MebFaber: RT @millennial_inv: Forget passive vs. active--here’s how to evaluate any investment strategy: [link]
Abnormal Returns: Sunday links: lucky or smart
Not a summary of economics
Noahpinion – 23 hours ago
@delong: RT @rodrikdani: It’s astounding how Tom Sargent mixes economics with ideology and Noah Smith tells you why [link]
@ObsoleteDogma: Everything you need to know about why conservative economists don’t like government intervention, and that’s it [link]
@rodrikdani: It’s astounding how Tom Sargent mixes economics with ideology and Noah Smith tells you why [link]
reddit/Economics: Noahpinion: Not a summary of economics
@MarkThoma: Not a summary of economics - Noahpinion [link]
When ‘Liking’ a Brand Online Voids the Right to Sue
New York Times – 3 days ago
The food company General Mills added language to its website to alert customers that they cannot take legal action against the company if they download coupons, enter a contest or connect with it in other ways.
@davewiner: If you favorite this tweet you can’t sue me. [link]
Huffington Post: General Mills Reverses Controversial Lawsuit Policy
Naked Capitalism: General Mills Opens New Frontier in Denying Consumers Right to Sue: Just Use Its Products
@ProPublica: Read the fine print: If you "like" a brand online, you might be forfeiting your right to sue the company [link] @nytimes
@TheIntuitInvest: Disgusting...When ‘Liking’ a Brand Online Voids the Right to Sue [link]
@BuzzFeedBen: RT @AdamSerwer: "Liking" something on Facebook is the new surrendering your legal rights to a corporation. [link]
@counterparties: Never interact with a brand on the internet #brands [link]
@davidmwessel: The march of binding mandatory arbitration: When ‘Liking’ a Brand Online Voids the Right to Sue [link]
@newsycombinator: When ‘Liking’ a Brand Online Voids the Right to Sue [link]
@raju: Liked @cheerios on @Facebook? Downloaded a coupon for @BettyCrocker ? You have lost right to sue parent @GeneralMills [link]
The Confidence Gap
The Atlantic – 5 days ago
Evidence shows that women are less self-assured than men—and that to succeed, confidence matters as much as competence. Here’s why, and what to do about it.
Huffington Post: Women’s Lack Of Confidence Doesn’t Cause Inequality. Sexism Does.
@Noahpinion: RT @TheAtlantic: The confidence gap: Why do successful women suffer from self-doubt more than men? [link]
@crampell: In studies, men overestimate their performance; women underestimate. Their performances do not differ in quality. [link]
@EpicureanDeal: “If life were one long grade school, women would be the undisputed rulers of the world” Women & (lack of) confidence: [link]
@SallieKrawcheck: Provocative: The Confidence Gap @TheAtlantic @danielalpert [link]
@taniabranigan: "Men consistently overestimated abilities/performance; women routinely underestimated both." The confidence gap [link]
5 Questions on the State of Mortgage Lending - Five Things
Wall Street Journal – 1 day ago
Anyone who’s tried to get a mortgage in recent years knows that it hasn’t been easy. But there are growing signs that lenders are becoming less picky amid a rebound in home prices and a drop-off in mortgage refinancing. Here are five things...
Wages, productivity, and employment in Italy
VOX – 1 day ago
@tylercowen: "Since 2000, Italian salaries have grown more in those sectors in which productivity has increased less." [link]
@MarkThoma: Wages, productivity, and employment in Italy - vox [link]
@FGoria: Wages, productivity, and employment in Italy [link] by @pmanasse & @thmanfredi
@gusbaratta: Wages, productivity, and employment in Italy: Tales from a distorted labour market. [link]