Previously on MoreLiver’s:
Roundups &
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global
Macro Trading
The Closer – alphaville
/ FT
US: Gold's Best Day In 11 Months As Stocks Close Red – ZH
EUROPE
The housing conundrum – Coppola
Comment
House prices in the UK are too high…So we cannot force down house
prices, we cannot force up real incomes and we cannot vastly increase the
fiscal deficit. The housing conundrum resembles one of those games of the
"there's a hole in my bucket" variety - a mind puzzle, if you like.
Spanish Banks: New Look at Restructured Loans – Marc
to Market
The continued decline
in house prices, the contracting economy and high unemployment point to the
likely increase in bad loans. While this may be generally appreciated, another
problem is emanating from loans to households and businesses that have already been
restructured.
Europe is failing in the fight against youth
unemployment. While the German government's efforts remain largely symbolic,
Southern European leaders pander to older voters by defending the status quo.
The ECB can't substitute for periphery
financial reform – Free
exchange / The Economist
Huw Pill / Goldman
Sachs: While there is certainly a risk in doing nothing to support credit
creation in the periphery, aggressive credit easing policies do not appear to
offer a good trade-off. Rather, more structural policies supporting efforts to
undertake the painful but necessary re-booting of the peripheral financial
system are to be preferred.
UNITED STATES
Boom or Bubble? – The
New Yorker
Bernanke weighs in on robot wars; brings Keynes
for backup – alphaville
/ FT
(from last Saturday’s
speech) If technology is becoming resource-like in its “curse” potential, not
all of us are necessarily better off for its advancement.
What to expect from Bernanke testimony and Fed
minutes this week – MacroScope
/ Reuters
Bernanke's Testimony to Congress and FOMC
Minutes Preview – tothetick
Macroeconomic Machismo – Krugman
/ NYT
So if you like, the
problem is Seriousness rather than sadism. On foreign policy, it’s always 1938;
on economic policy, it’s always 1979. And the colossal muddle goes on.
OTHER
Who Invented TBTF (Too Big to Fail)? – Minyanville
Aaron Brown: So TBTF
is a myth. It is the monster under the bed, the dragon on the edge of the map.
We never had it, and we certainly do not have it now.
Daniel Dennett's seven tools for thinking – The
Guardian
Cognitive scientist
and philosopher Daniel Dennett is one of America's foremost thinkers. In this extract from his
new book, he reveals some of the lessons life has taught him
What Can One of The Great Coaches of All Time
Teach You About Leadership? – Farnam
Street