US regulator probes ETF pricing structures
Financial Times – 24 minutes ago
Extreme movements in the prices of bonds, commodities and other assets have prompted regulators at the Federal Reserve Bank of New York to take a closer look at the inner workings of exchange traded funds. Wall Street’s top regulator has be...
Two NYPD cops shot dead in Brooklyn ’revenge’ killing
NY Daily News – 16 hours ago
Two NYPD cops were executed Saturday after a gang member from Baltimore drove to NYC to kill police officers after wounding his girlfriend.
@prchovanec: RT @NYDailyNews: Today’s front page. [link] [link]
@davewiner: NYDN: Two NYPD cops dead in ’ambush’ in Brooklyn by gunman who kills self in subway station: sources. [link]
@BuzzFeedBen: RT @NYCGreenfield: #RIP RT @NYDailyNews: Today’s front page. [link] [link]
@eisingerj: RT @kristengwynne: Also, @NYDailyNews is calling the Baltimore gang the "black gorilla family." Its "guerrilla." [link]
@MattGoldstein26: RT @NYDailyNews: Today’s front page. [link] [link]
John Stuart Mill on Being Offended at Other People’s Opinions or Private Conduct
Supply-Side Liberal – 3 hours ago
image source John Stuart Mill was a Utilitarian. A thoroughgoing Utilitarian has to confront the unpalatability of counting into Social Welfare calculations the utility people get from knowing that...
David Miles: low inflation will put UK economy in a better place
The Telegraph – 2 hours ago
Tumbling oil prices mean inflation is on course to fall below 1pc in the coming months, but interest rate rises remain on the horizon
Justine Sacco Is Good at Her Job, and How I Came To Peace With Her
Gawker – 1 day ago
On the Internet, irony can be fatal. Mob justice doesn’t get nuance.
@mims: RT @joemfbrown: Seriously read this. It is smart and thoughtful and it will probably be relevant to you some day. [link]
@RolfeWinkler: RT @JoannaStern: This @samfbiddle piece is wonderful. I demand you read it before brunch. [link]
@nichcarlson: Applause for @samfbiddle: "Justine Sacco Is Good at Her Job, and How I Came To Peace With Her" [link] via @Instapaper
@MikeIsaac: wow. just wow. [link]
@moorehn: Glad to see the backlash against Twitter outrage. Today’s big piece by @samfbiddle [link]
@Techmeme: Writer who sparked #HasJustineLandedYet reflects on his own irony fumble, apologized to Sacco [link] [link]
@mathewi: RT @marklittlenews: "Jokes are complicated, context is hard. Rage is easy" And there endeth the lesson. [link]
@AntDeRosa: Justine Sacco, @samfbiddle and the heavy price of making a nuanced joke on the Internet [link]
@mccarthyryanj: Breaking: humans complicated [link]
@johngapper: RT @helenlewis: Sam Biddle, who started the Twitterstorm against Justine Sacco a year ago, on what he’s learned since [link]
@ClaraJeffery: Tragismart @samfbiddle piece on #HasJustineLandedYet, #GamerGate and Twitter’s transmutation of irony into outrage: [link]
@delong: RT @streicher: It took ~30 years and an Internet shitstorm but @SamFBiddle finally discovered empathy! Good. [link]
@LorcanRK: This (a) is really good on how irony/sarcasm is dangerous on twitter (b) has am unfortunately shortened url [link]
@EpicureanDeal: Sam Biddle glances nervously at personal responsibility after the Internet Outrage Machine bites him in the ass: [link]
@hblodget: RT @fmanjoo: Justine Sacco Is Good at Her Job, and How I Came To Peace With Her. Excellent @samfbiddle [link] via
@ModeledBehavior: Writer at Gawker, of all places, has some thoughtful regret about contributing to Internet hate storms [link]
@BuzzFeedBen: RT @joemfbrown: Seriously read this. It is smart and thoughtful and it will probably be relevant to you some day. [link]
@ReformedBroker: Twitter: a fast machine that almost begs for misunderstanding and misconstrual - deliberate misreading its lubricant. [link]
@raju: On Revisiting the Justine Sacco Twitter fiasco six months later & seeing a bit of a fiasco on both ends [link] h/t @Brizzyc
@kevinroose: Respect, @samfbiddle. [link]
@MattZeitlin: 1. Don’t tweet2. Read this [link]
@eisingerj: Thoughtful essay on the TwitterMob phenomenon by @samfbiddle. I try very hard not to participate, often failing: [link]
Trader goes missing after £130m of clients’ cash disappears
The Telegraph – 3 hours ago
Police are investigating an alleged fraud over claims almost $200m has vanished from an investment company run by a 59-year-old Yorkshireman
How to Be an Expert in a Changing World
paulgraham.com – 14 hours ago
China’s Xiaomi Valued at More Than $45 Billion
Wall Street Journal – 21 hours ago
Xiaomi is raising more than $1 billion in its latest round of funding, valuing the fast-growing Chinese smartphone maker at more than $45 billion, a person familiar with the matter said
Business Insider: The ‘Apple Of China’ Raises Over $1 Billion, Valuation Skyrockets To More Than $45 Billion
@MParekh: New Normal: "Chinese smartphone maker #Xiaomi valued at more than $45 billion in latest funding round" [link] via @WSJ
@niubi: Chinese smartphone maker Xiaomi valued at more than $45 billion in latest funding round [link] via @WSJ
The Conventional Wisdom On Oil Is Always Wrong
fivethirtyeight.com – 3 days ago
That narrative isn’t necessarily wrong. But in my years watching the transformation up close, I took away a lesson: When it comes to energy, and especially shale, the conventional wisdom is almost always wrong.
@jasonzweigwsj: Why every prediction about anything involving oil has been wrong, by @bencasselman [link] #WSJ
@mims: RT @fmanjoo: Oil experts know nothing, writes @bencasselman [link] [link]
@TheStalwart: RT @mbusigin: Great piece by @bencasselman on oil [link]
@ritholtz: The Conventional Wisdom On Oil Is Always Wrong [link]
reddit/Economics: The Conventional Wisdom On Oil Is Always Wrong
@NKingofDC: RT @bencasselman: .@NKingofDC’s 2008 oil-price contest remains one of my favorite stories. Timing was incredible.[link]
@greg_ip: "key variable in forecasting oil production isn’t drilling costs or oil prices; it’s Wall Street." [link] @bencasselman
@petercoy: The Conventional Wisdom On Oil Is Always Wrong [link]
@munilass: The Conventional Wisdom on Oil is Always Wrong [link] via @pcdunham
Monetary policy is always and everywhere about expectations
Worthwhile Canadian Initiative – 22 hours ago
Paul Krugman is frustrated because people aren’t taking his model of the liquidity trap seriously. OK, let me take it seriously. Suppose Paul’s model is 100% true. And suppose that Paul’s model economy is humming along nicely, at full emplo...
Oil Crash Exposes New Risks for U.S. Shale Drillers
Bloomberg – 2 days ago
Tumbling oil prices have exposed a weakness in the insurance that some U.S. shale drillers bought to protect themselves against a crash.
Russians move into bitcoin as ruble tanks
CNBC – 3 days ago
Transaction volumes between the ruble and digital currency bitcoin enjoyed their biggest day of the year on Tuesday.
@mims: Russians move into bitcoin as ruble tanks [link] via @rgremill
@INETeconomics: Russians move into #bitcoin as #ruble tanks [link]
@Noahpinion: RT @RebelEconProf: #Bitcoin/ruble transactions. More discussion here: [link] [link]
@ReformedBroker: Exchanges between the Ruble and Bitcoin set a one-day record. Flight to fantasy. [link]
@pdacosta: Transaction volumes between the #ruble and digital currency #bitcoin enjoyed their biggest day of the year Tuesday. [link]
@RANsquawk: Looks like #Bitcoin saw a surge in demand this week as #Russians abandoned $RUB and flocked to the digitial currency! [link]
More Macro Modeling Meta
New York Times – 18 hours ago
Belarus Steps Up Capital Controls to Stem Ex-Soviet Currency Rot
Bloomberg – 15 hours ago
Belarus imposed capital controls that include a fee on all foreign-exchange purchases, as the fallout from Russia’s biggest currency crisis since 1998 spread across the former Soviet Union.
Iceberg at the Starboard Bow - December 22, 2014
Hussman Funds – 15 hours ago
Exploring the Increasingly Widespread Decline in Involuntary Part-Time Work
Atlanta Fed macroblog – 1 day ago
I work at Sony Pictures. This is what it was like after we got&...
Fortune – 17 hours ago
An employee of Sony Pictures Entertainment outlines what they went through following North Korea’s alleged cyber attack on the company.
U.S. Asks China to Help Rein In Korean Hackers
New York Times – 17 hours ago
As part of its response to the cyberattack on Sony Pictures, the Obama administration has asked China to assist in blocking North Korea’s ability to launch such attacks.
@gadyepstein: Double-take at this headline: U.S. Asks China to help rein in North Korean hackers [link]
@ClaraJeffery: Scratching head.... "U.S. Asks China to Help Rein In Korean Hackers" [link]
@Techmeme: Obama seeks China’s help in blocking North Korea’s ability to launch cyberattacks [link] [link]
The Big Winner in the Rental Home Shortage: Wall Street
Bloomberg – 2 days ago
Corporate landlords are benefiting from the worst U.S. rental-housing shortage in more than a decade as construction trails demand and more Americans opt to lease rather than buy.
Computer intrusion inflicts massive damage on German steel factory
Ars Technica – 1 day ago
Blast furnace can’t be properly shut down after attackers take control of network.
@TheStalwart: RT @markrussinovich: Surprised this isn’t getting attention: cyberattack on German steel factory destroys furnaces [link]
@BarbarianCap: RT @markrussinovich: Surprised this isn’t getting attention: cyberattack on German steel factory destroys furnaces [link]
@Alea_: Computer intrusion inflicts massive damage on German steel factory [link]
@jmackin2: RT @Alea_: Computer intrusion inflicts massive damage on German steel factory [link]
@davewiner: Computer intrusion inflicts massive damage on German steel factory. [link]
@Techmeme: Computer intrusion inflicts massive damage on German steel factory (@dangoodin001) [link] [link]
ECB’s Coene supports government bond purchases: newspaper
Reuters – 18 hours ago
The European Central Bank should start buying government bonds to tackle poor investor confidence and low inflation in the euro zone, governing council member Luc Coene said in an interview published