Argentina to Sidestep U.S. Ruling by Paying Bonds Locally
Bloomberg – 14 hours ago
Argentina plans to pay its foreign- currency bonds locally to sidestep a U.S. court ruling that blocked payments last month and caused the nation to default for a second time in 13 years. The notes sank.
Business Insider: 10 Things You Need To Know Before The Opening Bell (DIA, SPY, QQQ, TGT, HTZ, LOW)
Crossing Wall Street: Morning News: August 20, 2014
@JacobWolinsky: Argentina to Sidestep U.S. Ruling by Paying Bonds Locally - Bloomberg Wow [link] via @feedly
@JoshRosner: I should stop visiting #Argentina for the sake of the country. Every time I visit the Gov’t shoots itself in the foot [link]
@petereavis: RT @DanCancel: First take from CFK’s announcement: Argentina to Pay Bondholders in Local Account to Skirt Ruling [link] via…
@Pawelmorski: RT @DanCancel: Argentina to Sidestep U.S. Ruling by Paying Bonds Locally - Bloomberg via @BloombergNews [link] #PlanB
I’m a cop. If you don’t want to get hurt, don’t challenge me.
Washington Post – 1 day ago
It’s not the police, but the people they stop, who can prevent a detention from turning into a tragedy.
@LaurenLaCapra: RT @davidsirota: In WashPost, LA cop literally declares cops have right to shoot u if u threaten to sue them [link] http://…
@MParekh: Amazing: "I’m a cop. If you don’t want to get hurt, don’t challenge me." [link] via @washingtonpost #Police #Ferguson #Law
@BCAppelbaum: RT @dylanmatt: Well this is certainly an opinion a person could hold [link]
@ATabarrok: RT @davidsirota: In WashPost, LA cop literally declares cops have right to shoot u if u threaten to sue them [link] http://…
@ProPublica: "If you don’t want to get shot, tased, pepper-sprayed, struck with a baton...just do what I tell you." — Calif. cop [link]
@delong: RT @davidsirota: In WashPost, LA cop literally declares cops have right to shoot u if u threaten to sue them [link] http://…
@edwardnh: "here is the bottom line: if you don’t want to get shot... don’t threaten that you’ll sue me and take away my badge" [link]
@IvanTheK: "a professor of homeland security" I didn’t know that was a major.[link] [link]
@newsycombinator: “I’m a cop. If you don’t want to get hurt, don’t challenge me.” [link]
@taniabranigan: "If you don’t want to get tasered/struck/shot don’t argue/threaten to sue" writes LA cop [link] via @davidsirota
@moorehn: Facts notwithstanding. RT @jimtankersley LAPD officer: "officers are rarely at fault" when they have to use force. [link] …
Dow 6,000: Wild prediction or worthwhile caution?
Yahoo – 4 hours ago
Harry Dent says the Dow is headed to 6,000 in the next 2-3 years. Is this just another wild prediction or a helpful cautionary tale?
@EddyElfenbein: Harry Dent "if you lay over the Dow in the 90s bubble and the Dow since early 2009 they lay over exactly.” [link]
@JeffMacke: Harry Dent calls for a DJIA 3:1 split! (?) [link] via @YahooFinance @aarontask
@hblodget: fwiw, I’m not as bearish as Harry Dent. Dow 6,000 is possible, but not likely, imho [link]
Goldman Sachs to raise junior banker pay by 20 percent : NY Post
Reuters – 22 minutes ago
NEW YORK (Reuters) - Goldman Sachs Group Inc
Norway’s Wealth Fund Gains $31 Billion on Global Stock Surge
Bloomberg – 8 hours ago
Norway’s sovereign wealth fund, the world’s largest, returned 192 billion kroner ($31 billion) in the second quarter as energy stocks and emerging markets led a rally amid turmoil in Iraq and Ukraine.
Keep rates low until the hidden jobless return to work
Financial Times – 20 hours ago
This year’s annual conference of central bankers in Jackson Hole is focused on the right question: how to determine the extent of labour market slack in the US and other advanced economies. This is the most pressing issue for Janet Yellen, ...
@BCAppelbaum: RT @ftcomment: Our current most-read column: @AdamPosen - Keep rates low to help America’s jobless [link] [link]…
@MarkThoma: Keep rates low until the hidden jobless return to work - [link] [link]
reddit/Economics: Keep rates low until the hidden jobless return to work -- Persistent unemployment will do more lasting damage than a rise in inflation, writes Adam Posen
@pdacosta: RT @TomWrightAsia: Adam Posen: Keep rates low until the hidden jobless return to work [link]
@D_Blanchflower: my pal @adamposen spot on Jackson Hole should conclude Fed should hold off raising rates for sake of fuller empt. [link]
Why Central Banks Should Give Money Directly to the People
Foreign Affairs – 1 day ago
In the decades following World War II, Japan’s economy grew so quickly and for so long that experts came to describe it as nothing short of miraculous. During the country’s last big boom, between 1986 and 1991, its economy expanded by nearl...
reddit/Economics: Print Less but Transfer More
@bondvigilantes: M&G’s @ericlonners says central banks should transfer cash to individuals to stimulate economy in @ForeignAffairs. [link]
@CardiffGarcia: Blyth and Lonergen argue for heli-drops in a crisis and levered equity stakes by CBs for redistribution policy ($$$): [link]
Russia Wants Bulgarians to Stop Vandalizing Soviet Monuments
themoscowtimes.com – 23 hours ago
Russia is demanding that Bulgaria try harder to prevent vandalism of Soviet monuments, after yet another monument to Soviet troops in Sofia was spray-painted.
@BarbarianCap: RT @MeredithFrost: Russia wants Bulgarians to stop vandalizing Soviet monuments to look like superheroes: [link] http://t.c…
@ericjackson: RT @MeredithFrost: Russia wants Bulgarians to stop vandalizing Soviet monuments to look like superheroes: [link] http://t.c…
@Ian_Fraser: RT @MarksLarks: Russia wants Bulgarians to stop vandalizing Soviet monuments to look like superheroes: [link] [link]…
@spignal: RT @PaulJDavies: Brilliant! RT @olivia_solon: Russia wants Bulgarians to stop vandalizing Soviet monuments: [link] http://t…
@M_C_Klein: Good for Bulgaria: [link]
The mystery of the falling teen birth rate
vox.com – 2 hours ago
For five years now, America’s teen birth rate has plummeted at an unprecedented rate, falling faster and faster. No one can figure out why.
Google’s IPO, 10 Years Later: Just 10 Stocks Beat It
Wall Street Journal – 1 day ago
Ten years ago, Google Inc. made its highly anticipated trading debut on the public markets. A decade later, it has a lot to celebrate.
@firstadopter: The 10 stocks that beat $GOOG since IPO 10 years ago [link] [link]
@mattbish: RT @sbanjo: Google’s IPO, 10 Years Later: Just 10 Stocks Beat It [link] via @WSJMoneyBeat
@howardlindzon: The ten stocks that have beaten $goog the last 10 years [link] $cern $gmcr #biotechs
@ritholtz: Google’s IPO, 10 Years Later: Just 10 Stocks Beat It [link] via @WSJMoneyBeat
Abnormal Returns: Tuesday links: a big waste of time
@hblodget: RT @WSJmarkets: A $10,000 investment in Google at its $85 IPO price would be worth $139,458.82 today: [link] [link]…
Uber Opens Its API With 11 Launch Partners, Including OpenTable,…
TechCrunch – 2 hours ago
Last week, my colleague Josh Constine reported that Uber was preparing to release an API that would enable its on-demand ride-hailing service to be integrated..
Argentina Stuns Bondholders With Scorched-Earth "Cramdown" Plan
ZeroHedge – 3 hours ago
With the impasse over the latest Argentina default going nowhere fast, late last night president Kirchner stunned its creditors when she announced what amounts to a cramdown plan for holdouts, in which all bonds would be stripped of thei...
Argentina aims to skirt U.S. court, bring debt under national law
Reuters – 14 hours ago
BUENOS AIRES (Reuters) - President Cristina Fernandez on Tuesday unveiled legislation that seeks to push bondholders to swap defaulted debt for new notes governed by Argentine law, a move aimed at skirting
What People Are Really Doing When They’re on a Conference Call
HBR – 20 hours ago
47% of Americans go to the bathroom, for example.
@ToddSullivan: What People Are Really Doing When They’re on a Conference Call [link] @harvardbiz
@LaurenYoung: RT @HarvardBiz: Here’s what people are really doing during a conference call: [link] [link]
@kairyssdal: Oh, lots of things. "What People Are Really Doing When They’re on a Conference Call" @HarvardBiz [link]
Atlantic City Grapples With Empty Spaces
New York Times – 4 hours ago
Government and industry officials are trying to determine how and whether former gambling, hotel and resort spaces might be reused.
Inequality and Web Search Trends
New York Times – 1 day ago
An analysis of a decade of web searches shows the different subjects that occupy people’s thoughts in a highly unequal country.
@ToddSullivan: Inequality and Web Search Trends - [link] [link]
Marginal Revolution: Assorted links
@lucymarcus: Illustration of inequality/division by searches: In One America, Guns & Diet. In the Other, Cameras & ‘Zoolander.’ [link]
@kmac: The strangest thing I’ve read in quite a while [link]
reddit/Economics: Joggers vs. The Antichrist: Search terms in the most and least prosperous US counties
@BuzzFeedBen: RT @sealln: Buried lede: thirteen years later, a lot of people are googling Zoolander [link]
@Richard_Florida: Tracing the Two Americas ... with Google Search Terms - David @DLeonhardt in @UpshotNYT - [link]
@ObsoleteDogma: RT @mattsteinglass: Can’t get over NYT analysis of search terms dividing rich socioecon regions from poor ones. [link] http…
@JustinWolfers: “It presumably refers to either a kind of sofa or a kind of birth control.” [link]
@AmyResnick: Big search data offers "a glimpse into the id of our national #inequality." [link]
@newsycombinator: Inequality and Web Search Trends [link]
Housing, the Weakest Link
esoltas.blogspot.com – 3 hours ago
The Declining U.S. Reliance on Foreign Investors
New York Fed – 4 hours ago
The United States has been borrowing from the rest of the world since the mid-1980s.
Quantitative Ease by Carola Binder: Wage Inflation and Price Inflation
carolabinder.blogspot.com – 12 hours ago
@naufalsanaullah: RT @cconces: Does wage inflation predict price inflation? New blog post: [link]
@MichaelKitces: RT @Noahpinion RT @cconces Does wage inflation predict price inflation? New blog post: [link]
@Noahpinion: RT @cconces: Does wage inflation predict price inflation? New blog post: [link]
@MarkThoma: Wage Inflation and Price Inflation - Carola Binder [link]
@pdacosta: RT @cconces: Does wage inflation predict price inflation? New blog post: [link]
Norway oil fund sets out expansion plans
Financial Times – 6 hours ago
Norway’s $885bn oil fund is shaking up its top executives after criticism about its investment in Formula 1 and worries about how it will deal with its growing size. Norges Bank Investment Management, the arm of the central bank that manage...
Sound and Fury in Bank Settlements, Still Signifying Nothing
New York Times – 19 hours ago
Billions of dollars in penalties are piling up in banks’ mortgage settlements, but no one is being held accountable and the public is being deprived of details of the wrongdoing.
@kaylatausche: RT @nytimesbusiness: DealBook: Sound and Fury in Bank Settlements, Still Signifying Nothing [link]
@anatadmati: Holder (cover up, settle, let wrongdoers off) vs Brendeis (expose, hold accountable). @WilliamCohan screams for us. [link]
@ErikSchatzker: My friend @WilliamCohan says the American people are being ill-served by the "Holder Doctrine." And he’s right. [link]
@SconsetCapital: A tale told by an idiot.RT @nytimesbusiness: DealBook: Sound and Fury in Bank Settlements, Still Signifying Nothing [link]