 |
| I apologize for not updating the Calendar section |
I posted earlier a 2012 Special and a 2011 Special. For my audience returning from holidays, I’ve been busy posting and you might want to check my Dec 2011 post archive. You can follow me on Twitter and Facebook and email me for suggestions and requests.
- MoreLiver
Quote of the Week: “When any new form comes into the foreground of things, we naturally look at it through the old stereos. We can’t help that. This is normal, and we’re still trying to see how will our previous forms of political and educational patterns persist under television. We’re just trying to fit the old things into the new form, instad of asking what is the new form going to do to all the assumptions we had before.” – Marshall McLuhan 1960
Then to the links:
 |
| Stealth bank run |
PAST WEEK
US Macro – Calculated Risk
The Big Picture – Random Roger
Wrap-Up – The Pragmatic Capitalism
Review – DealBook / NYT
Bull/Bear Recap – Rational Capitalist Speculator
NEXT WEEEK
US Macro – Calculated Risk
Next Week’s Tape – MarketBeat / WSJ
Week Ahead – A Dash of Insight
Economic Calendar – fxstreet.com
Monthly Economic Calendar – fxstreet.com
Economic Calendar – BB
EU calendar – europa.eu
FX option vols – Saxo
Debt crisis: live – The Telegraph
Europe Crisis Tracker – WSJ
EURO CRISIS
The ECB's easy monetary policy is not getting to the "periphery" – Sober Look
The (money) growth is moderately positive at around 2% year over year. This means the liquidity in the eurozone as a whole is expanding, while Italy's is contracting.
TARGET2 imbalances and the money supply disparity – Sober Look
As these imbalances grow, the disparity in the money stock growth will continue, making it more difficult for the ECB to have an impact via monetary easing.
What has the ECB done in the crisis? The role of TARGET balances – Martin Wolf / FT
Without the euro, the ECB ceases to exist. That is true of no other eurozone institution. It gives it the incentive to act. It is also acting on a large scale.
That is no cause for celebration. On the contrary, it reflects European politicians’ lack of sufficient strategic vision and courage in dealing with the eurozone crisis – and also in regulating the markets.
German finance minister Wolfgang Schaeuble says eurozone problems will be solved in 2012 – The Telegraph
Germany's finance minister Wolfgang Schaeuble says he's confident that Europe's politicians will manage to stabilize the eurozone in 2012 and keep the continent's common currency together.
'Euro will be stable' claim is ridiculed – The Telegraph
Germany's finance minister has been accused of groundless optimism after he claimed that Europe's leaders will have "banished the dangers" of the euro crisis within 12 months.
No Fireworks for Euro as It Reaches the 10-Year Mark – NYT
In Brussels, there will be neither a ceremony nor even a news conference to mark the occasion.
Spanish Prime Minister Mariano Rajoy to unveil multi-billion euro cuts – The Telegraph
Spain's centre-right government will announce billions of euros in savings measures on Friday, using its first decrees since sweeping to power at November elections to give the nation a foretaste of tougher austerity to come.
Complete European Sovereign Issuance Calendar – ZH
OTHER
People Make Poor Monitors for Computers – Macroeconomic Resilience
Expands on an earlier article that risk management should be more like piloting an aircraft than engineering.
In the Nation’s Service – The Epicurean Dealmaker
In fact, one might argue that most jobs fall somewhere along the spectrum from mildly disgusting to slightly repellent in moral terms. As a wise man once observed, that’s why they call it work.
Today, finance and insurance in the US account for 8.4% of GDP, up from 2.8% in 1950 and 6% in 1990. So why has the devotion of a great deal of skill and enterprise to finance and insurance sector not paid obvious economic dividends?
DIVERSION
Google Recruiter Mike Junge on Startups, the Biggest Mistake Job Applicants Make, and Why It Pays to be Nice – pehub.com
Bygone times – The Daily Mail
Incredible colour photos from the early 20th century which capture a world on the brink of permanent change
The White House’s year in photos – White House / flickr
North Korean defectors: Escaping the reign of Kim Jong-Il – Matador
The Scandinavian country is an education superpower because it values equality more than excellence. The guy interviewed in the article used to teach physics in my high school. He used to play basketball with the students and even showed up at a student party. How time flies.
George Steiner, a certain idea of knowledge – Télérama / presseurop.eu
Literature, philosophy, science: today, our tools for understanding the world are developing separately, regrets the renowned intellectual and humanist. However, culture remains a saving grace, particularly in Europe.
Last month, philosopher Patrick Lin delivered this briefing about the ethics of drones at an event hosted by In-Q-Tel, the CIA's venture-capital arm. It's a thorough and unnerving survey of what it might mean for the intelligence service to deploy different kinds of robots.
Party drinks show their true colours under the microscope – Daily Mail
Wonderful photos.
Algorithm Measures Human Pecking Order – technology review
The way people copy each other's linguistic style reveals their pecking order.