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Saturday, August 9

9th Aug - W/E: The Link Fest

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Habermas gropes for “solidarity”Craig Willy
European banking tests: Exam nervesThe Economist
The collapse of Banco Espírito Santo is a salutary reminder that Europe’s banking woes have not gone away.

Which Country Is Hit Hardest By Russian Food Sanctions? – Wolf Street
Food fight: EU weighs up risks of Russia’s ban – FT
Russia: food import ban or tit-for-tat sanctions – Nordea
Sanctions Costs - Who Is Paying The Most? – ZH
Why Europeans Aren’t Too Worried About Putin’s Energy Power – WSJ

IMF: Right Policies Could Reverse Some of U.S. Labor Force Decline – WSJ
White House: Labor Market About 80% Back to Precrisis Level – WSJ

What Does Sentiment Suggest for Future ReturnsThe Fat Pitch
For now, the dominant read on sentiment is that it is emerging from a period of excessive bullishness, after which returns are normally below average. Until a bearish extreme is reached, that should be investors' bias based purely on sentiment.

Bond Yields Plumb New Lows, in Three ChartsWSJ

5 Things To Ponder: Buy The Dip Or Market Correctiondshort

Recap 2014-08-08 : Bunds, StocksGlobal Macro Trading
It is usually not a good idea to bet on a central bank losing is credibility in achieving its mandate. One of the following will eventually happen: the data turns, the policy changes, or leadership changes.

What concerns economists now?Nordea
This summer I had the honour of hosting an annual conference for an economists’ network, consisting of economists from financial institutions from all parts of the world. During the five years I have been a member of the group, the assessment of the risks lying ahead has changed significantly.

The Error-Proof Portfolio: 6 Rebalancing Mistakes to AvoidMorningstar
Lightening up on stocks? See if you can't achieve other goals at the same time.

Global Stock Market Valuation and Historical Real ReturnsPhilosophical Economics

12 Books Every Investor Should ReadFarnam Street

Unfortunate Realities of the Investment BusinessA Wealth of Common Sense

Buttonwood: Practice makes imperfectThe Economist
Even experienced fund managers don’t beat the market

'Flash Boys' and the Speed of LiesBB
Many of us had worked at big Wall Street firms or inside stock exchanges, and many of us believed something was amiss in the market. But it took the better part of five years to discover exactly how the market had been organized to benefit financial intermediaries, rather than the investors, the companies or the economy it was meant to serve.

7 things I don't miss about Wall StreetCNBC

Friedman Redux: External Adjustment and Exchange Rate FlexibilityIMF
Constructing a novel dataset of bilateral exchange rate regimes that differentiates by the degree of exchange rate flexibility, as well as by direct and indirect exchange rate relationships, for 181 countries over 1980–2011, we find a significant and empirically robust relationship between exchange rate flexibility and the speed of external adjustment.

On ReaganolatryKrugman / NYT

Markov Chains explained visuallyFlowing Data

What macroprudential regulation is, and why it mattersThe Economist

Cognitive dissonance in politics, markets and monetary policyMarket Monetarist

Anti-intellectualismMainly Macro

Has the ‘Libertarian Moment’ Finally Arrived? – NYT
No, America Is Not Turning Libertarian – New York Magazine
Libertarian Fantasies – Krugman / NYT

Paul Krugman: Stop Calling People Names – Forbes
Oh Dear. Larry Kotlikoff Fails to Read... – Delong
Con Men Aren’t Stupid – Krugman / NYT

Slot-machine scienceVOX
How casinos get you to spend more money

The 12-step dogmaAeon
The new science of addiction makes 12-step programmes seem like folk medicine. Is the concept of a higher power obsolete?

The Spies Next DoorWashingtonian
Great espionage stories are hiding in neighborhoods all over Washington. My mission: to track down the story of the Glomar Explorer, the most ambitious operation in CIA history.

Fighting the feverThe Economist
With around 1,700 suspected cases and more than 900 deaths, the outbreak of Ebola haemorrhagic fever in four West African countries is the biggest ever recorded.

Attitudes change with contactWaPo
Researchers put two Spanish-speakers on a train and changed commuters’ views of immigration

Get LuckyAVC

The Most Fascinating Profile You’ll Ever Read About a Guy and His Boring StartupWired

Why marijuana won’t become another Big Tobacco – WaPo
Even marijuana opponents concede that pot has gone mainstream – WaPo
How My Parents Became Late-Life Pot Moguls– The New York Magazine

Dansken ekonomisti: Pakotteet nurin parissa kuukaudessaKL
Danske Bankin kehittyviä markkinoita seuraavan ekonomistin mukaan pitkittyvä kauppasota ei hyödytä EU:ta eikä Venäjää.

Hyvää yötä Espanja – veronmaksajat katoavatTyhmyri

Byrokratiaa, sun laulusi soiTakkirauta

Ekonomisti epäilee valtion alijäämän paisuvan miljardeilla suunnitellustaVerkkouutiset
Nordean pääekonomisti Aki Kangasharju ei luota valtiovarainministeriön budjettiesityksen pohjalla oleviin kasvulukuihin.

Tilausten nousu katkesi kuin kanan lentoNordea

Reportaasi: Älypuhelimen keksijäKaleva