Crowding In and the Paradox of Thrift
New York Times – 5 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]
Greek default necessary but Grexit is not
Financial Times – 1 hour 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 – 2 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]
China Moves to Stimulus Mode With Cut to Bank Reserve Ratio
Bloomberg – 5 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
@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]
Notes on Greece
New York Times – 6 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]
@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 – 16 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]
@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]
China cuts bank reserves again to fight slowdown
Reuters – 5 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 – 5 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...
Paul Volcker: "The economics profession is in trouble... We need to pull economics back into the real world of Political Economy."
economicsociology.org – 9 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...
Ben Bernanke’s top excuse for working at a hedge fund actually makes it worse
vox.com – 1 day 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’
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]
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
At Global Economic Gathering, Concerns That U.S. Is Ceding Its Leadership Role
New York Times – 1 day ago
Economists and political leaders see an American government so bitterly divided that it is on the verge of deserting the global economic stage it has commanded since the end of World War II.
@ComfortablySmug: RT @nytimes: Bitter political divisions may cause the U.S. to cede global economic leadership to other powers [link]
@MParekh: Ours to lose: "At Global Economic Gathering, Concerns That U.S. Is Ceding Its Leadership Role" [link] #China #GeoPolitics $$
@Noahpinion: How much of the U.S.’ "loss of economic leadership" just comes from the natural process of global growth? [link]
@elerianm: FYI, @JonathanWeisman on concern that US "is retreating from global economic leadership just when it is needed most." [link]
Young Money: Michael Burry’s posts on Silicon Investor
y0ungmoney.blogspot.com – 11 hours ago
ECB’s Draghi Rejects Talk of Greek Exit From Euro
Wall Street Journal – 20 hours ago
The ECB’s Mario Draghi rejects talk of a Greek exit from the euro, reiterating that it “cannot be reversed.”
@YanniKouts: #ECB’s Draghi rejects talk of Greek exit from #euro [link] /via @WSJeurope #Greece
@darioperkins: RT @pdacosta: ECB’s Draghi rejects talk of Greek exit from the euro, reiterating that it “cannot be reversed.” [link]
@BobBrinker: What is the opposite of progress in Greece negotiations? via @wsj [link] [link]
@EfiEfthimiou: RT @pdacosta: ECB’s Draghi rejects talk of #Greece exit from the euro, reiterating that it “cannot be reversed.” [link]
Why Europe Needs to Save Greece
Project Syndicate – 6 days ago
The Greeks, it can be argued, have not earned the right to be saved, but Greece’s exit from the euro is not the best option for the country or for the European Union. Whether or not the Greeks are deserving of assistance, it is in Europe’s ...
@YanniKouts: Frmr Swedish FinMin Anders Borg, who advocated Grexit in 2012 [[link]], now says "Save #Greece" [link] Clown
reddit/Economics: View from Sweden: Why Europe Needs to Save Greece
@HamzeiAnalytics: RT @ProSyn: Is #Greece unwilling or unable to modernize? A sobering look at the country’s struggling economy [link]
Game of Thrones Economics: Why Doesn’t Westeros Have A Central Bank?
Forbes – 19 hours ago
In Game of Thrones, the Seven Kingdoms of Westeros have no central bank. Why is this? And would one even be possible given the political economy of the known world? This post will address these question. As a disclaimer, my knowledge of the...
Are You Hot or Not? For Investors, It’s Hard to Tell
Wall Street Journal – 1 day ago
For an investor, being proved right when others turn out to be wrong can build your confidence. It also should shake it.
Europe ready for Grexit contagion as Athens gets closer to Russian cash
The Telegraph – 17 hours ago
Mario Draghi sends warning shot that Greek threats to unleash mayhem will not give way to leniency
Bond bubbles, MMT, and the limits to fiscal policy
philosophyofmoney.net – 5 days ago
Economist and philosopher Eric Lonergan, the author of Money, (Routledge) explores the meaning of money today. ’Stimulating’‚ The Economist.
@delong: RT @ericlonners: Bond mkt conundrum: reply to @benbernanke in postscript. Key is covariance and the zero bound. [link] @del…
reddit/Economics: Bond bubbles, MMT, and the limits to fiscal policy
@wonkmonk_: Bond bubbles, MMT, and the limits to fiscal policy: @ericlonners [link] [link]
Greece wants EU/IMF deal but impasse could bring referendum: deputy PM
Reuters – 18 hours ago
Greece aims for a deal with its creditors over a reforms package but will not retreat from its red lines, the country’s deputy prime minister told the Sunday newspaper To Vima, not ruling out a
@GTCost: RT @pdacosta: #Greece wants EU/IMF deal but impasse could bring referendum: deputy PM [link]
@BobBrinker: RT @pdacosta: #Greece wants EU/IMF deal but impasse could bring referendum: deputy PM [link]
@pdacosta: #Greece wants EU/IMF deal but impasse could bring referendum: deputy PM [link]