What’s The Matter With France?
New York Times – 12 hours ago
The wages of hypochondria.
@TheStalwart: This is a trolly, but good and provocative Krugman piece on France. [link]
reddit/Economics: What’s The Matter With France? French economic data looks nothing at all like the story everyone tells.
@ritholtz: What’s The Matter With France? [link] via @NytimesKrugman
@FGoria: What’s The Matter With France? [link]
@MarkThoma: What’s The Matter With France? - Paul Krugman [link]
@SconsetCapital: They don’t tax people enough and government handouts are too small?"@NYTimeskrugman: What’s The Matter With France? [link]
Speed Traders Seize NYSE Floor as IMC Takes Goldman Post
Bloomberg – 1 hour ago
When Scott Knudsen rang the opening bell at the New York Stock Exchange this week, he signaled the ceremonial start of the day’s session and the conquest of the NYSE floor by high-frequency trading firms.
French Unemployment Figure Sets New Record
nasdaq.com – 1 hour ago
PARIS-- The number of unemployed people in France rose 0.8% in July from June, setting yet another record high at a time when President Francois.
Russian Hackers Said to Loot Gigabytes of Big Bank Data
Bloomberg – 4 hours ago
Russian hackers attacked JPMorgan Chase & Co. and at least four other banks this month in a coordinated assault that resulted in the loss of gigabytes of customer data, according to two people familiar with the investigation.
Medicare: Not Such a Budget-Buster Anymore
New York Times – 20 hours ago
Estimates of future medical spending keep falling. The changes are projected to save taxpayers hundreds of billions of dollars.
@CenterOnBudget: RT @ChadCBPP: Check out @UpshotNYT [link] for graphic look at decline in Medicare cost projections--down every year for pas…
@pkedrosky: RT @DKThomp: Medicare costs: predictions vs. reality. Superb from @UpshotNYT --> [link] [link]
@MattGoldstein26: Medicare: Not Such a Budget-Buster Anymore, via @nytimes [link]
reddit/Economics: Medicare: Not Such a Budget-Buster Anymore
@ObsoleteDogma: RT @DKThomp: Medicare costs: predictions vs. reality. Superb from @UpshotNYT --> [link] [link]
@jbarro: If something is unsustainable, it will stop. Including exploding Medicare spending. [link]
@davidmwessel: RT @DKThomp: Medicare costs: predictions vs. reality. Superb from @UpshotNYT --> [link] [link]
@newsycombinator: Medicare: Not Such a Budget-Buster Anymore [link]
The euro has failed to boost trade between the countries that adopted it
The Telegraph – 5 hours ago
Intra-eurozone exports peaked at around 52pc of the total in the late 1990s and have been in decline ever since
Finance is a Strange Industry
fool.com – 1 day ago
There’s nothing else like it. - Morgan Housel - Financials
@jasonzweigwsj: Finance is a Strange Industry: [link] via @themotleyfool #TheStrangestIndustryOfAll #WSJ
@cullenroche: This is so dead right. [link] @TMFHousel
@TheStalwart: This is great RT @cullenroche: This is so dead right. [link] @TMFHousel
@TheIntuitInvest: This is a fantastic piece, is anyone in finance listening? Finance is a Strange Industry: [link] @themotleyfool
@iheartWallSt: @felixsalmon Hussman. [link] via @TMFHousel. [link]
@abnormalreturns: The world of finance is filled with people with "awful track records." (via @TMFHousel) [link] $$
@ReformedBroker: RT @awealthofcs: Classic @ReformedBroker line in this terrific piece from @TMFHousel on the finance industry [link] http://…
Abnormal Returns: Wednesday links: for what ends
Bank forex trading revenues fall by a third
Financial Times – 20 hours ago
Investment banks’ earnings from foreign exchange trading fell at their fastest rate since the global financial crisis in the first half of 2014, hit even harder than other trading areas by low volatility and volumes. Revenues of the 10 larg...
Dethrone ‘King Dollar’
New York Times – 13 hours ago
America can’t afford to maintain the world’s reserve currency.
JPMorgan and Other Banks Struck by Cyberattack
New York Times – 12 hours ago
The hackers stole gigabytes of data, including account information. It is not yet clear if the attacks were financially motivated or part of a cyberespionage campaign.
Business Insider: The 10 Most Important Things In The World Right Now
@Techmeme: JPMorgan, 4 other US banks hacked, gigabytes of data including account information stolen [link] [link]
@moorehn: "Companies of our size unfortunately experience cyberattacks nearly every day,” said a JPMorgan spokeswoman." [link]
Interview With Bill Gurley, The Guy Who Backed OpenTable, Yelp, GrubHub, Twitter, Zillow And Uber
Forbes – 1 day ago
Bill Gurley has been an A-list VC for 15 years, but he’s in his prime right now. He’s been at the table backing some of the biggest names in tech in the last 5 years. He took time to answer some of my questions recently about what he looks ...
@firstadopter: .@ericjackson Interview With Bill Gurley..Backed OpenTable, Yelp, GrubHub, Twitter, Zillow, Uber [link] h/t @Chris_Ciaccia
Abnormal Returns: Wednesday links: for what ends
@ericjackson: RT @mdudas: A great interview of @bgurley by @ericjackson: [link]
@derekhernquist: RT @RiskReversal: MT @ericjackson @Forbes Interview w/@BGurley: The Guy Who Backed $OPEN $YELP $GRUB $TWTR $Z $UBER [link]
IMF Lists 25 Brightest Young Economists
ibtimes.co.uk – 22 hours ago
Americans who are also half French, Indian, or Canadian dominate the list.
@ModeledBehavior: Is 43 "young"? RT @davidmwessel: IMF Lists 25 Brightest Young Economists [link] via @IBTimesUK #IMF
Marginal Revolution: The IMF picks 25 top young economists
reddit/Economics: IMF Lists 25 Brightest Young Economists — The International Monetary Fund (IMF) has identified twenty-five young economists who it expects will shape the world’s thinking about the global economy in the future.
@Noahpinion: RT @TimHarford: IMF Lists 25 Brightest ’Young’ Economists - a good list via @tylercowen [link]
@graemewearden: RT @LadyFOHF: IMF lists 25 ’bright young economists’. Heartened to see many are around 40...[link]
@TimHarford: IMF Lists 25 Brightest ’Young’ Economists - a good list via @tylercowen [link]
@davidmwessel: IMF Lists 25 Brightest Young Economists [link] via @IBTimesUK #IMF
The World Is Squared: Episode 1 - "Switzerland, Country of Joyce"
crookedtimber.org – 1 day ago
Thanks to P O’Neill in comments to my last post, for suggesting both the idea for this poor-man’s Friedman travelogue and its title. The first installment comes to you from the youth hostel in Grin...
@TheStalwart: This is great writing from @dsquareddigest about Switzerland. [link]
@M_C_Klein: Read @dsquareddigest on Switzerland: [link]
@GTCost: Brilliant! | The World Is Squared: Episode 1 - "Switzerland, Country of Joyce": [link]
@Alea_: "The World is Squared" on Switzerland [link]"
@EpicureanDeal: RT @dsquareddigest: new blog post - "The World is Squared" on Switzerland [link]
@felixsalmon: If I’m not blogging any more because @matt_levine does it better, I hope @tylercowen isn’t reading @dsquareddigest [link]
@munilass: Loving @dsquareddigest’s travel writing [link]
Swedroe: Why Care What Hussman Forecasts?
etf.com – 12 hours ago
A brief case study on why investors should ignore forecasters.
@cullenroche: Oh snap. @larryswedroe had some choice words for John Hussman. [link]
@ReformedBroker: "I always advise people to ignore his forecasts because they don’t have any value.” - Swedroe on Hussman brutal. [link]
@DavidSchawel: “@cullenroche: @larryswedroe had some choice words for John Hussman. [link]” Shorter: Hussy’s fancy words have no value
Anti-corruption officers swoop on Jimmy Lai’s home; trading in Next Media shares halted
scmp.com – 10 hours ago
Trading in Next Media shares was halted this morning after anti-corruption officers swooped on the Kowloon home of media mogul Jimmy Lai....
@MalcolmMoore: RT @SCMP_News: BREAKING: Anti-corruption officers swoop on home of Hong Kong media mogul Jimmy Lai [link]
@peter_tl: RT @SCMP_News: BREAKING: Anti-corruption officers swoop on home of Hong Kong media mogul Jimmy Lai [link]
@gadyepstein: I accidentally erased (self-censored?) my RT of HK anti-corruption sweep of Jimmy Lai’s home [link] [link]
Ukraine Says Russian Forces Lead Major New Offensive in East
New York Times – 20 hours ago
Tanks, artillery and infantry have crossed from Russia into an unbreached part of eastern Ukraine in recent days, in what Ukrainian and Western military officials are calling a stealth invasion.
@firstadopter: NYTimes: Ukraine Says Russian Forces Lead Major New Offensive in East "causing panic and wholesale retreat" [link]
@GTCost: RT @anneapplebaum: more descriptions of the "third front" opened by Russian troops in southeast Ukraine [link]
@DougKass: Russian forces on major offensive in Ukraine[link]
Business Insider: Ukrainian Sergeant: ’This Is Now A War With Russia’
@cafreeland: RT @nytimes: Tanks, artillery and infantry have crossed into Ukraine in recent days as Russia opens a third front [link]
This is Uber’s playbook for sabotaging Lyft
The Verge – 1 day ago
Uber is arming teams of independent contractors with burner phones and credit cards as part of its sophisticated effort to undermine Lyft and other competitors.
@firstadopter: This is Uber’s playbook for sabotaging Lyft [link] via @verge <-not cool
@kevinroose: RT @verge: Exclusive: This is Uber’s playbook for sabotaging Lyft [link]
FT Alphaville: The Closer
@M_C_Klein: All of this fighting over drivers will look pretty silly once the cars start driving themselves in a few years: [link]
@ritholtz: WOW THE GUYS WHO RUN UBER ARE JERKS! This is Uber’s playbook for sabotaging Lyft [link] via @verge
@jsphctrl: Exhibit A in why Uber will be taken apart by a stronger labour market (unless it attempts eg. captive financing) [link]
Here Is The City: Uber UK denies controversial US driver-poaching strategy
@Alea_: RT @davewiner: This is Uber’s playbook for sabotaging Lyft. (I am removing the Uber app from all my devices.) [link]
@BuzzFeedBen: RT @Doranimated: Can we please, pretty please, put the CEO of Uber in charge of our Iran, ISIS & Syria policies? | [link]
@ReformedBroker: Uber is quite possibly the most gangsta startup since Death Row Records. [link]
@JoeSaluzzi: This is Uber’s playbook for sabotaging Lyft. [link] via @verge
@mccarthyryanj: RT @JeffHorwitz: Read this and then say the words "sharing economy" without laughing. It’s hard: [link]
Reformed Broker: Hot Links: Epic Fail
@davewiner: This is Uber’s playbook for sabotaging Lyft. (I am removing the Uber app from all my devices.) [link]
@newsycombinator: Uber’s playbook for sabotaging Lyft [link]
@Techmeme: Documents and interviews reveal Uber’s sophisticated, nationwide Lyft ride-cancelling scheme [link] [link]
@moorehn: Uber is winning the car wars by....openly sabotaging rivals like Lyft. [link]
@Neil_Irwin: Just an amazing Verge story on Uber’s tactics to try to poach drivers from Lyft. Internal docs, the works. [link]
Don’t Want Me to Recline My Airline Seat? You Can Pay Me
New York Times – 22 hours ago
I fly a lot. When I fly, I recline. I don’t feel guilty about it. And I’m going to keep doing it, unless you pay me to stop.
reddit/Economics: Don’t Want Me to Recline My Airline Seat? You Can Pay Me
@LorcanRK: 1,313? Guess there’s no going back now.. RT @jbarro: So far, 1,313 comments on my recline post. [link]
@ObsoleteDogma: Only way to make this better: there’s nothing wrong with reclining your seat *and I won’t stop even if you pay me* [link]
@morningmoneyben: I’m a tall man. I might groan when you recline your seat on me. But that’s where it ends. [link]
@CardiffGarcia: .@jbarro is correct -- [link] -- but if you disagree, fine, then I’ll just help myself to your in-flight snack and beverage.
@jbarro: So far, 1,313 comments on my recline post. [link]
@matt_levine: Fun fact: Law school is basically three years of talking about the Coase Theorem. [link]
US probes wave of cyber attacks on banks
Financial Times – 9 hours ago
US authorities are investigating a new wave of cyber attacks against American financial institutions, including JPMorgan Chase, the largest US bank by assets. The Federal Bureau of Investigation said on Wednesday it was working with the US ...
China might NEVER become the biggest economy in the world
marketmonetarist.com – 15 hours ago
It is often assumed that given China’s remarkable growth rates over the past three decades - around 10% real GDP per year - China is on the way to soon becoming the largest economy in the world. In...
@JacobWolinsky: Interesting: China might NEVER become the biggest economy in the world: [link] via @MaMoMVPY
reddit/Economics: China might NEVER become the biggest economy in the world
@TheArmoTrader: China might NEVER become the biggest economy in the world: [link]
@M_C_Klein: I do not buy this but I appreciate the contrarianism: [link]
Fannie Mae to Sell Headquarters
Wall Street Journal – 14 hours ago
Fannie Mae officials told employees on Wednesday that the company plans to sell its mansion-like headquarters in Washington, D.C., as part of a consolidation of its five, D.C.-area offices into a single, leased office building. The company ...
@JacobWolinsky: Fannie Mae to Sell Headquarters [link]
@HamzeiAnalytics: RT @NickTimiraos: Fannie Mae to sell iconic headquarters, relocate to new office space in DC [link] (Getty) [link]…
@TheStalwart: RT @NickTimiraos: Fannie Mae to sell iconic headquarters, relocate to new office space in DC [link] (Getty) [link]…