Public Assistance, Private Subsidies and Low Wage Jobs
arindube.com – 3 hours ago
Recently, Ken Jacobs, Ian Perry and Jenifer MacGillvary from UC Berkeley Center for Labor Research and Education released a detailed report showing that the majority of public assistance payments--...
@MarkThoma: Public Assistance, Private Subsidies and Low Wage Jobs - Arindrajit Dube [link]
@MattZeitlin: This is a very good look at what public assistance programs are really a subsidy to low-wage employers [link]
@NickTimiraos: Thoughtful analysis on the debate over public assistance as a form of ’subsidy’ for low-wage employers [link]
@mattyglesias: Good @arindube post on the flawed argument that food stamps subsidize low-wage employers: [link]
China Moves to Stimulus Mode With Cut to Bank Reserve Ratio
Bloomberg – 8 hours ago
@OkieEKaiser: RT @SebbyTong: China Follows on Stimulus Pledge With Bank Reserve Ratio Cut [link]
reddit/Economics: China Moves to Stimulus Mode With Cut to Bank Reserve Ratio
@JohnLothian: China Moves to Stimulus Mode With Cut to Bank Reserve Ratio [link]
@SoberLook: China Moves to Stimulus Mode With Cut to Bank Reserve Ratio [link]
@prchovanec: China cuts banks’ required reserve ratio in effort to shore up struggling economy [link]
Crowding In and the Paradox of Thrift
New York Times – 9 hours ago
What we learn from the IMF on investment.
@MarkThoma: Crowding In and the Paradox of Thrift - Paul Krugman [link]
@economistmeg: Someone tell Schaeuble! MT @davidmwessel: Krugman reads IMF WEO chapter on low business investment and applauds [link]
@wonkmonk_: RT @NYTimeskrugman: Crowding In and the Paradox of Thrift [link]
@rodrikdani: RT @AntonioFatas: The paradox of thrift explained. [link]
@davidmwessel: Paul Krugman reads the IMF WEO chapter on why business investment is so low and applauds [link] via @NytimesKrugman
@ProfSteveKeen: RT @NYTimeskrugman: Crowding In and the Paradox of Thrift [link]
Notes on Greece
New York Times – 9 hours ago
Immense cost, but sunk at this point.
@DanielAlpert: RT @wonkmonk_: Krugman: "Greece has made an incredible adjustment — close to 20% of potential GDP..." [link] [link]…
@MarkThoma: Notes on Greece - Paul Krugman [link]
@davidmwessel: Krugman: If Greece can negotiate halfway reasonable compromise, hard to see risks of euro exit would be worth it [link]
@reddy: Greece’s private-sector labor costs relative to the eurozone average: [link] [link]
@wonkmonk_: Krugman: "Greece has made an incredible adjustment — close to 20% of potential GDP..." [link] [link]
BuzzFeed Deleted Posts Under Pressure from Its Own Business Department
Gawker – 19 hours ago
Earlier this week, BuzzFeed launched an internal review of any posts that its editors or writers had deleted from the site since editor-in-chief Ben Smith was hired in January 2012. In an interview on Friday, and a memo sent to staff on Sat...
@mathewi: BuzzFeed deleted posts. But how many newspaper stories were never written because of pressure from the business side? [link]
@AntDeRosa: BuzzFeed admits to deleting 3 other posts due to pressure from advertisers [link]
@spignal: this native advertising thing is a hoot. Buzzfeed was *running Pepsi’s Twitter feed* and slagging it off at same time [link]
@mccarthyryanj: Can editorial be totally independent if it’s paid to operate a brand’s Twitter feed? [link]
@s_m_i: RT @christindal: "Jonah and I sat down yesterday with our hardworking volunteer ombudsman, Keenan Trotter of Gawker…" [link]
@BuzzFeedBen: RT @Kia_Mak: "Jonah and I sat down yesterday with our hardworking volunteer ombudsman, Keenan Trotter of Gawker" [link]
@mediagazer: BuzzFeed review itemizes reasons for post deletions; ad pressure led to three in 2013 and 2014 [link] [link]
@fmanjoo: Buzzfeed has an ombudsman. He’s Gawker’s @jktrotter. [link] [link]
@jbarro: RT @michaelroston: Shade: "sat down yesterday with our hardworking volunteer ombudsman, Keenan Trotter of Gawker" [link]
@brianstelter: RT @max_read: buzzfeed acknowledges deleting three (other) posts after complaints from advertisers [link] another @jktrotte…
@ClaraJeffery: So, wait, Buzzfeed sometimes operates the Twitter accounts of F500 brands? [link] [link]
@moorehn: RT @ClaraJeffery: So, wait, Buzzfeed sometimes operates the Twitter accounts of F500 brands? [link] [link]
Greek default necessary but Grexit is not
Financial Times – 5 hours ago
Until last week, discussions with Greece did not go well. That changed when the circus of international financial diplomacy moved to Washington for the spring meetings of the International Monetary Fund and the World Bank. Then it became wo...
@GTCost: RT @Schuldensuehner: #Greece’s default necessary but #Grexit is not. [link] [link]
@rodrikdani: RT @lionelbarber: Must read: A Greek default but no Grexit. Wolfgang Munchau utters the unspeakable ... [link]
@fwred: RT @ftbrussels: Greek default necessary but Grexit is not [link]
@AdamPosen: RT @lionelbarber: Must read: A Greek default but no Grexit. Wolfgang Munchau utters the unspeakable ... [link]
How to deal with a problem child like Greece
Financial Times – 6 hours ago
Never in the history of the eurozone has the eurogroup been so united. Never have the institutions formerly known as the troika — the European Commission, the International Monetary Fund and the European Central Bank — had such a common pur...
@moorehn: This headline encapsulates the patronizing EU view of Greece. RT @FinancialTimes How to deal with a child like Greece [link]
@FGoria: How to deal with a child like Greece [link]
@BrunoBrussels: ’Take up the White Man’s burden And reap his old reward: The blame of those ye better, The hate of those ye guard’[link]
@azizonomics: Austerians have this incredible ability to construct awful, incoherent, patronizing economic metaphors [link]
Gundlach Says Market Hasn’t Seen Full Impact of Fed Moves
Bloomberg – 2 hours ago
Weighing the Week Ahead: A Geopolitical Risk to U.S. Stocks?
dashofinsight.com – 7 hours ago
It is a very light week for economic data, but a full one for earnings reports. I expect a divided media focus, but special attention to geopolitical issues. With the backdrop of Friday’s market decline many will be asking: Do geopolitical ...
Comcast and Time Warner Cable to Meet With DOJ to Negotiate Merger
Wall Street Journal – 16 hours ago
Comcast Corp. and Time Warner Cable Inc. are preparing to meet with officials from the U.S. Department of Justice Wednesday in a session aimed at negotiating possible concessions to address concerns that the merger of the two cable giants w...
@mediagazer: Comcast, TWC will meet with DoJ to negotiate concessions that could ease regulatory approval [link] [link]
@sspencer_smb: Comcast and Time Warner Cable prepare to meet with DOJ to negotiate merger [link] via @WSJ
@Techmeme: Comcast, TWC will meet with DoJ to negotiate concessions that could ease regulatory approval [link] [link]
Greece Remains Defiant as Creditors Up Pressure for a Deal
Bloomberg – 6 hours ago
China cuts bank reserves again to fight slowdown
Reuters – 8 hours ago
China’s central bank on Sunday cut the amount of cash that banks must hold as reserves, the second industry-wide cut in two months, adding more liquidity to the world’s second-biggest economy to help
@DavidKeo: RT @PaulSommerville: China cuts bank reserve requirement to counter slowdown [link] via @Reuters
@DougKass: China Cuts Banks’ Reserve Ratio by 1 Percentage Point[link]
@lindayueh: China eases lending Sun-PBOC cuts reserve requirement ratio for all banks by 100 basis points to 18.5% #BigEasingMove [link]
@pdacosta: #China central bank cuts reserve requirements again to fight economic slowdown [link]
The Problem With Secular Stagnation
Project Syndicate – 8 hours ago
In a recent exchange between Ben Bernanke and Larry Summers on the plausibility of secular stagnation, both agreed on the need for a global perspective. But from that perspective, the hypothesis of secular stagnation prior to the 2008 finan...
Anger Management: Why the Genius Founders Turned to Couples Therapy
New York Times – 1 day ago
Trying to keep their business partnership from imploding, Ilan Zechory and Tom Lehman decided they had to submit to couples therapy.
@JacobWolinsky: RT @nytimes: They started a business together but couldn’t stop fighting. So they went to couples therapy [link] http://t.c…
@maxabelson: This by @lauramholson is pure genius [link]
@mathewi: RT @RurikBradbury: I swear that [link] is an insanely elaborate performance art project: [link]
@newsycombinator: Anger Management: Why the Genius Founders Turned to Couples Therapy [link]
Investing in Your Best Ideas
cleareyesinvesting.com – 14 hours ago
Costco to Pay Almost Zero to Accept Credit Cards
Bloomberg – 1 day ago
@firstadopter: Almost zero is a good price RT @business Costco to pay almost zero to accept cards in Citigroup deal [link]
@BarbarianCap: Costco to Pay Almost Zero to Accept Credit Cards [link] $COST
@ReformedBroker: Costco to Pay Almost Zero to Accept Credit Cards[link](No wonder Amex walked away from the table)
@trengriffin: The deal Visa & Citigroup cut with Costco is part of customer acquisition cost (CAC) for services up & cross sold. [link]
@nasiripour: RT @cr_harper: HUGE SCOOP: Costco will pay almost zero to accept credit cards [link] via @EDexheimer @matt_townsend @busine…
@robenfarzad: RT @ErikSchatzker: Costco may pay almost no credit-card fees under Citigroup deal. Total game-changer. [link]
@sspencer_smb: Costco to Pay Almost Zero to Accept Credit Cards [link] $COST $AXP $V via @business
Ben Bernanke’s top excuse for working at a hedge fund actually makes it worse
vox.com – 2 days ago
There’s nothing wrong with lobbying. Taking a murky job with unspecified responsibilities is much more troubling.
@anatadmati: Ex policymakers (e.g., Summers, Geithner, Bernanke) taking vaguely-defined industry jobs is disurbing. @mattyglesias[link]
@hedge_funds: Ben Bernanke’s top excuse for working at a hedge fund actually makes it worse - Vox [link]
Here Is The City: Bernanke to be ’most vilified of century’
Paul Volcker: "The economics profession is in trouble... We need to pull economics back into the real world of Political Economy."
economicsociology.org – 13 hours ago
Paul Volcker, the former Chairman of the Federal Reserve under Presidents Carter and Reagan (1979 - 1987), has led the Neoliberal-Monetarist breakthrough in the US economy. Although it is never to...
IMF: Slowing Emerging-Market Growth Is Sapping Global Economic Prospects
Wall Street Journal – 5 days ago
Global economic growth will accelerate only marginally this year as slowing output in major emerging markets and a feeble expansion in rich countries drag down near-term prospects, the International Monetary Fund said.
@greg_ip: RT @IanTalley: As the dollar surges and euro weakens, IMF cuts US growth forecast and raises the eurozone’s: [link] http://…
@prchovanec: RT @Reddy: Emerging economies aren’t looking so hot in the IMF’s forecasts [link] [link]
@mileskimball: IMF report: weak global growth. IMF should get behind elimination of ZLB & deep negative rates. My IMF seminar May 4 [link]
The economists’ manifesto
Financial Times – 2 days ago
It’s often said that economists have too much influence on policy. A critic might say that politicians are dazzled by data-driven arguments and infatuated with the free-market-fetishising practitioners of the dismal science. As a card-carry...
Marginal Revolution: Sunday assorted links
@diane1859: RT @FT: Free to read: If Britain’s top economists were in charge, what policies would they implement? [link] [link]…
reddit/Economics: The economists’ manifesto - If Britain’s top economists were in charge, what policies would they implement?
@jdportes: RT @FT: How would Britain’s top economists run the country? @TimHarford finds out [link] [link]
@MarkThoma: The economists’ manifesto - [link] [link]
@TimHarford: If the UK’s top economists were in charge, what policies would they implement? (Me in @FT) [link]
Oil-Rich Nations Are Selling Off Their Petrodollar Assets at Record Pace
Bloomberg – 5 days ago
@TheBubbleBubble: RT @alaubsch: Oil-Rich Nations Are Selling Off Their Petrodollar Assets at Record Pace #SubprimeEnergyBubble [link] via @bu…
@AlephBlog: Oil-Rich Nations Are Selling Off Their Petrodollar Assets at Record Pace [link] & amid that, the USD still goes up $$ $SPY
@izakaminska: RT @JavierBlas2: CHART OF THE WEEK: #SaudiArabia and other #oil rich nations are selling off their #petrodollar [link] http…