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EUROPE
Cyclical
stagnation: The recovery grinds to a halt – The
Economist
News in
Charts: Euro Area Back On The Brink Of Recession – Alpha
Now
UKRAINE / RUSSIA
Ukraine,
war, and sovereign default – FT
Being
invaded by Russia is not very conducive to a country’s GDP. But also, bizarre
as it seems if its armour really is aflame in the Donbas, Russia is also the
owner of Ukrainian sovereign debt.
UNITED STATES
Kocherlakota
Says Fed Still Missing Inflation, Jobs Goals – WSJ
Jackson
Hole Preview: Do Not Expect Policy Shift – ZH
US
inflation indicators - August 2014 – Nordea
The
evidence reinforces our expectations for core inflation to continue to
accelerate in the year ahead.
MARKETS
US HY
Inflows Trickle Back, European Stock & Bond Redemptions Surge – ZH
The
leverage clock tolls for thee – FT
The basic
idea from Citi, orignally from Matt King and built on here by the Global
Strategy Team, is that there are four phases in the credit-equity cycle.
Chart o’
the Day: S&P 500 current vs historical valuation – The
Reformed Broker
A Primer
on Fund Flows – The
Fat Pitch
On
Research Sources and Trading Rules – The
Aleph Blog
10 Ideas
For Traders – Nas Trading
What
Proportion of Daytraders Actually Makes Money? – Traderfeed
The authors
conclude that day trading skill genuinely exists. They also conclude that it is very, very
rare.
What
I've Learned in 30 years of Investing: Part 2 – Yahoo
50
Financial Twitter Feeds You Must Follow – WSJ
ECONOMICS
The
Fragmentation of Bretton Woods – Project
Syndicate
Mohamed A.
El-Erian: In recent years, political support for economic multilateralism has
eroded, undermining the effectiveness of the Bretton Woods institutions and
disrupting the international monetary system. This is not only hampering the
global economy’s ability to meet its potential; it is also contributing to
geopolitical insecurity.
Secular
stagnation: Facts, causes, and cures – a new eBook – voxeu.org
Secular
Stagnation: The Book
– Krugman
/ NYT
Six years
after the Crisis and the recovery is still anaemic despite years of zero
interest rates. Is ‘secular stagnation’ to blame? This column introduces an
eBook that gathers the views of leading economists including Summers, Krugman,
Gordon, Blanchard, Koo, Eichengreen, Caballero, Glaeser, and a dozen others. It
is too early to tell whether secular stagnation is really secular, but if it
is, current policy tools will be obsolete. Policymakers should start thinking
about potential solutions.
Swiss
Deflate the Deflation Theory – View
/ BB
Europe's
dismal economic performance in the second quarter of this year has led to
renewed calls for the European Central Bank to pursue stimulus measures aimed
at stoking inflation. The example of Switzerland, though, suggests that
Europe's problems might stem more from broader economic mismanagement than from
a mere lack of rising prices.
Signalling
fiscal stress in the euro area - a country-specific early warning system – ECB
The
Perils of Economic Consensus – Project Syndicate
A consensus
among economists can arise for both good and bad reasons.
Macroprudential
frameworks: (too) great expectations? – BIS
Optimal
mechanisms for the control of fiscal deficits – ECB
Too Big
to Regulate – NYT
Last week —
six years after the onset of the financial crisis, four years after Dodd Frank
and two years after the biggest banks submitted the first drafts of their
living wills — the Federal Deposit Insurance Corporation and the Federal
Reserve rejected the plans from 11 large banks as “unrealistic or inadequately
supported.”
We’re
heading into a jobless future, no matter what the government does – WaPo
The
Problem with the Phillips Curve – The
Aleph Blog
The
Beveridge Curve hysteresis and the long-term unemployed – Sober
Look
OFF-TOPIC
How to
Look Smart – The
Atlantic
Wear
glasses, use a middle initial, and other tips for appearing intelligent
Visual
microphone can pick up speech from a bag of potato chips – Endgadget
Anthony
Bourdain Talks Travel, Food, and War – Blogs
of War
Prostitution
and the internet: More bang for your buck – The
Economist
How new
technology is shaking up the oldest business
The
Monkey Run – Dave Giles
When it
comes to doing econometrics, students today just have no idea how lucky they
are - compared with old geezers like me, that is.
A better
understanding of mental illness hasn’t reduced the stigma around it – WaPo
Bendable
Displays Are Finally Headed to Market – MIT
Technology Review
Flexible
displays haven’t been usable as touch screens, or durable—those problems have
now been solved.
Snowden
- The most wanted man in the world – Wired
The
Unbelievable, Unknowable Wealth of the World’s Super-Rich – Slate
Remembering
Robin Williams (1951–2014) – Time
Wi-Fi
Access Sparks Housing Boom in Pyongyang – The
Diplomat
In North
Korea’s capital, citizens are buying up real estate near foreign embassies to
access their Wi-Fi service.
Our
collective zombie obsession is an allegory for congressional dysfunction – WaPo
Our
politics leads us to the catharsis of apocalyptic entertainment. Unfortunately,
the politics are still there when the movie ends.
FINNISH
Tohtori Hankamäki toivoo Suomelle omaa rahapolitiikkaa
– Henri
Myllyniemi / US
EKP luo uutta velkakuplaa – Talouden
Tulkki
Viikon talouspäivitykset – Roger
Wessman
Ajatuksia ammattipätevyyksistä – Jukka
Hankamäki
Saksan talous ja euroalue – Valtteri
Aaltonen / US
Lisää talouskasvua ilman budjettivaikutuksia – Nordea
Aki Kangasharju: Verotulot syntyvät yrityksissä – jo pitkän
aikaa erityisesti pienissä yrityksissä. Suomesta ei puutu keskisuuria yrityksiä
kasvuhaluttomuuden vuoksi, vaan kasvun rajoittimien vuoksi. Elintasomme
palautuu, vasta kun keskisuurten ja suurten yritysten joukko elpyy.
Kolmas syy, miksi Venäjä haluaa Ukrainan – Jan
Hurri / TalSa
Maantiede ja luonnonvarat ovat kaksi syytä, miksi
Venäjä toimii Ukrainassa niin kuin toimii. Näiden lisäksi Venäjän toimia voi
selittää kolmaskin syy: maailmanpolitiikan historia – ja vuosisatainen
vastakkainasettelu Venäjän ja "lännen" välillä. Siksi on
tulkintakysymys, kumpaa Venäjä tekee, hyökkää vai puolustaa.
Putin on pinteessä – Vesa
Varhee / TalSa
Venäjän presidentti Vladimir Putin on ajautumassa
kenties ylipääsemättömään ahdinkoon. Ukrainan tapahtumista kehittynyt
kauppasota EU:n ja Yhdysvaltojen kanssa vaurioittaa Venäjän taloutta ja
kansalaisten elämää monin tavoin, ja tyytymättömyys saattaa yllättää presidentin.
Maaliskuun vallankumous vuonna 1917 osoitti, mitä tapahtuu, kun Venäjän
kansalta loppuu leipä.