Straightening deck chairs during the "retirement crisis"
updatedpriors.blogspot.com – 5 hours ago
@trengriffin: RT @Noahpinion: Ryan Decker is correct: Passive management is good, but it won’t do all your saving for you. [link]
@ModeledBehavior: An article about how many are making irresponsible personal choices isn’t fun, so let’s focus on the villain [link]
@Noahpinion: Ryan Decker is correct: Passive management is good, but it won’t do all your saving for you. [link]
@MarkThoma: Straightening deck chairs during the "retirement crisis" - Updated Priors [link]
@JournalofValue: UPDATED PRIORS: Straightening deck chairs during the "retirement c... [link]
Female company president: “I’m sorry to all the mothers I used to work with"
Fortune – 17 hours ago
PowerToFly President Katharine Zaleski admits: "I didn’t realize how horrible I’d been – until I had a child of my own."
@robenfarzad: "I read Sheryl Sandberg’s #LeanIn, thinking it would motivate me. It only depressed me more." [link] @kzaleski $TIME #Moms
@SallieKrawcheck: Bracing. Startup co-founder: I’m sorry to all the mothers I’ve worked with @FortuneMagazine [link]
@cschweitz: "I wish I had known five years ago, as a young, childless manager, that mothers are the people you need on your team" [link]
@ClaraJeffery: 1/ Ex-journo/CEO apologizes to working moms she used to diss, now that she is one. Yet casts parenting as mom’s job [link]
@mccarthyryanj: "I’m sorry to all the mothers I worked with." Excellent @kzaleski post [link]
To Fight Inequality, Tax Land
Bloomberg View – 18 hours ago
In the lasting debate over Thomas Piketty’s book on outsized returns on capital, a significant fact has been obscured: If you exclude land and housing, capital has not risen as a share of the U.S. economy. In responding to inequality, policy makers should recognize the difference between wealth, which includes land, and productive capital, which doesn’t.
Marginal Revolution: Tuesday assorted links
@mattyglesias: .@porszag is right on land taxes, though I think he misunderstands what Piketty’s proposal is —> [link]
@wonkmonk_: Vice chairman of Citigroup @porszag backs @JosephEStiglitz’s call to tax land value to address wealth inequality [link]
@Richard_Florida: To Fight Inequality Tax Land - @porszag in @BV - [link]
@MarkThoma: To Fight Inequality, Tax Land - Bloomberg View [link]
@Ian_Fraser: RT @BV: To fight inequality, tax land, by @porszag [link] [link]
@Austan_Goolsbee: RT @porszag: Excluding land and housing, no increase in capital/output ratio. [link]
@prchovanec: Peter Orszag goes full Henry George and endorses a land tax [link]
@davidmwessel: RT @prchovanec: Peter Orszag goes full Henry George and endorses a land tax [link]
@foxjust: .@porszag goes all Henry George: [link]
UK retreat from investment banking gathers pace
Financial Times – 1 day ago
Britain’s retreat from investment banking is set to accelerate as Royal Bank of Scotland aims to slash as many as 14,000 jobs in the sector and Barclays’ chief executive says he has limited patience with the business. The moves underline ho...
@MadameButcher: Joseph Dickerson, analyst at Jefferies, gives Barclays’ investment bank 15 months to live. [link]
@FGoria: Barclays makes loss after £750m forex hit [link]
Here Is The City: FT - Top firm could cut 14,000 investment banking jobs
Business Insider: RBS is cutting 74% of investment banking jobs
@JohnLothian: Barclays suffers loss after £750m forex provision - [link] [link]
@Ian_Fraser: #RBS to axe 14,000 i-banking jobs as it & #Barclays lose patience with investment banking operations [link]
Nextdoor Social Network Digs Deep Into Neighborhoods
New York Times – 6 hours ago
The start-up and its investors see opportunities in the company’s more than 53,000 microcommunities.
@brianstelter: RT @rozzy: “How do you crack local, when so many companies before you have failed? You play the long game..." [link]
@newsycombinator: NextDoor raises $110M at a $1.1B valuation [link]
@Techmeme: Nextdoor raises $110M, at a valuation of $1.1B; may monetize with recommendations, services [link] [link]
@conorsen: RT @Techmeme: Nextdoor raises $110M, at a valuation of $1.1B; may monetize with recommendations, services [link] http://t.c…
India makes second unscheduled rate cut
Financial Times – 4 hours ago
India’s central bank has cut interest rates for the second time in less than two months, again at an unscheduled meeting, on the back of softening inflation. The move brings the repo rate down to 7.5 per cent. Disinflation — and in some cas...
@EddyElfenbein: RT @ObsoleteDogma: India just cut interest rates at an unscheduled meeting for the second time in two months [link]
@ObsoleteDogma: India just cut interest rates for the second time in two months, this time at an unscheduled meeting [link]
@FGoria: India makes second unscheduled rate cut [link]
Petraeus Mistress Got Black Books Full of Code Words, Spy Names, and Obama Briefings
Daily Beast – 13 hours ago
The one-time CIA director didn’t just disclose secrets to his mistress. He shared with her some of the most sensitive information the Pentagon has.
@HamzeiAnalytics: Petraeus Mistress Got Secret Black Books, Full of Code Words, Spy Names, and Briefings With Obama [link]
@NKingofDC: And yet, no prison time.........Petraeus Mistress Got Black Books Full of Code Words, Spy Names, and Obama Briefings [link]
@niubi: Petraeus Mistress Got Black Books Full of Code Words, Spy Names, and Obama Briefings - The Daily Beast misdemeanor? [link]
@delong: RT @NoahShachtman: Petraeus gave Broadwell secret ’Black Books,’ full of code words, spy names & TS/SCI info. [link] http:/…
@IvanTheK: Clancy couldn’t have written it better.Petraeus Mistress Got Black Books w/Code Words, Spy Names, Obama Briefings [link]
@pmarca: Another reason for unbreakable crypto in consumer products: protect comms and info of rogue CIA Directors -- [link]
Passive management vs. saving more
Noahpinion – 4 hours ago
Yellen Says Effective Supervision of Big Banks One of Fed’s Top Priorities
Wall Street Journal – 6 hours ago
Federal Reserve Chairwoman Janet Yellen raised concerns about the state of Wall Street’s culture and ethics on Tuesday, echoing similar comments from other regulatory officials and increasing pressure on the biggest U.S. banks to improve.
@Neil_Irwin: RT @vgmac: Yellen hits Wall St for brazen ethical failings and more in a rare speech devoted to regulation [link]
@mccarthyryanj: RT @vgmac: Yellen hits Wall St for brazen ethical failings and more in a rare speech devoted to regulation [link]
@TimDuy: Yellen does not ❤️Wall Street bankers. RT @vgmac : Yellen hits Wall St for brazen ethical failings and more in [link]
Austerity Is Not Greece’s Problem
Project Syndicate – 23 hours ago
When looking out a window, it is easy to be fooled by your own reflection and see more of yourself than the outside world. This seems to be the case when US observers, influenced by their own country’s fiscal debate, look at Greece.
@Frances_Coppola: RT @rszbt: MT @Marlies_Uken: Pro & con - @ricardo_hausman on #Greece [link] and @Frances_Coppola on Hausmann [link]…
@mark_dow: "The problem is that Greece produces very little of what the world wants to consume." (i.e. It’s the Euro, stupid) [link]
@YanniKouts: #Greece | "It’s not austerity, but the lack of a sound fiscal policy" - common sense by @ricardo_hausman [link] /via @prosyn
Marginal Revolution: Ricardo Hausmann on Greece and austerity
@tylercowen: RT @charleshhughes: Ricardo Hausmann going in on Greece austerity question h/t @tylercowen [link] [link]
Fed’s Regional Banks Are ‘Unconstitutional,’ Brookings Paper Says
Wall Street Journal – 1 day ago
The Federal Reserve’s 12 regional banks are “unconstitutional” and contribute to the popular misperception that the central bank is a privately owned institution not fully accountable to the public interest.
@BrookingsInst: RT @pdacosta: Fed’s Regional Banks Are ‘Unconstitutional,’ Brookings Paper Says [link]
@MarkThoma: Fed’s Regional Banks Are ‘Unconstitutional,’ Brookings Paper Says - WSJ [link]
@greg_ip: RT @WSJecon: "Do we really need two Fed branches in Missouri, and only one west of Dallas?" [link]
@munilass: Hic sunt dracones @WSJecon: "Do we really need two Fed branches in Missouri, and only one west of Dallas?" [link]"
Eurozone faces first regional bankruptcy as debt debacle stalks Austria’s Carinthia
The Telegraph – 11 hours ago
Fitch has stripped Austria of its AAA rating, adding that ’within a short space of time the debt dynamics of Austria have deteriorated significantly’
@GTCost: RT @1959lofty: Eurozone faces first regional bankruptcy as debt debacle stalks Austria’s Carinthia | via @Telegraph [link]
@edwardnh: Austria: Alpine region of Carinthia faces probable bankruptcy after getting bailed in on Hypo Alpe Adria @AmbroseEP [link]
@mhewson_CMC: Eurozone faces first regional bankruptcy as debt debacle stalks Austria’s Carinthia | via @Telegraph [link]
Playing for Zero
Bloomberg – 19 hours ago
The iPhone app Robinhood lets you trade stocks for free. What could possibly go wrong?
Business Insider: Robo-advisor Wealthfront is now managing $2 billion
@howardlindzon: RT @TheJGR: Bloomberg Market’s piece on Robinhood was published today. Out on stands Thursday. [link] [link]
Abnormal Returns: Tuesday links: convincing investors
@TheArmoTrader: RT @markets: This iPhone app lets you trade stocks for free. What could possibly go wrong? [link] @aeffinger [link]…
@abnormalreturns: RT @business: The Robinhood iPhone app lets you trade stocks for free [link] [link]
Silicon Valley’s boom-boom room moment
Breakingviews – 10 hours ago
These days the talk of the geek enclave isn’t the latest Mary Meeker report or mega-IPO but complex legal complaints alleging naughty behavior by leading venture capitalists. The lawsuits are the latest reminder that the tech industry’s mor...
Americans Aren’t Saving Enough for Retirement, but One Change Could Help
New York Times – 9 hours ago
The typical remedy is that people should put more money aside in investments. This glosses over a critical driver of unpreparedness: Wall Street is bleeding savers dry.
@MarkThoma: Americans Aren’t Saving Enough for Retirement, but One Change Could Help - [link] [link]
reddit/Economics: Americans Aren’t Saving Enough for Retirement, but One Change Could Help - NYTimes.com
@Noahpinion: RT @MarkThoma: Americans Aren’t Saving Enough for Retirement, but One Change Could Help - [link] [link]
Heidi Moore has left The Guardian
talkingbiznews.com – 5 hours ago
Analyzing Recent Trends in the U.S. Wealth Distribution
Econbrowser – 6 hours ago
Why oil will be rangebound for the time being
CNBC – 5 hours ago
Jim Rickards, chief global strategist at West Shore Funds, expects oil prices to trade between $50-60 for a year or two as Saudi Arabia attempts to put the U.S. shale frackers out of business.
YouTube’s top 100 channels have more than doubled their views in a year
The Guardian – 5 hours ago
With 517.3m monthly views, unboxing channel Funtoys Collector is now bigger than second-placed PewDiePie – and Taylor Swift hasn’t done badly either
PBOC Seen Cutting Again as China’s Economy Slows, Survey Shows
Bloomberg – 6 hours ago
Robots are hurting middle class workers, and education won’t solve the problem, Larry Summers says
Washington Post – 15 hours ago
Larry Summers set the record straight on technology, education and the future of the middle class.
@NickTimiraos: RT @jimtankersley: No, Larry Summers didn’t ’demolish’ the robots argument. He explains, in an extended Q&A: [link] c: @ror…
reddit/Economics: Larry Summers - Robots are hurting middle class workers, and education won’t solve the problem
@Noahpinion: RT @bencasselman: Really fantastic @jimtankersleyinterview with @LHSummers on automation, education and inequality:[link]
@Claudia_Sahm: RT @bencasselman: Really fantastic @jimtankersleyinterview with @LHSummers on automation, education and inequality:[link]