EUROPE
Mubarak Released, German elections, and what would Scottish independence
mean for Europe?
Eurozone crisis:
‘Euro rescue, bill please!’ – Presseurop
Handelsblatt complains that Merkel is unwilling to admit the true cost
of the eurocrisis to the Germans.
Germans aren't the only ones with interests at stake in next month's
election. The US is watching too --
and Washington is hoping that, once
the campaign is history, Germany will show more
leadership on global issues.
European bank funding:
A long, dry summer – The
Economist
Dutch immigration: Overflow – The
Economist
UNITED STATES
The Audacious
Pragmatist – NYT
It took a great recession to change his mind. The recession, prompted by
the collapse of the housing bubble that Mr. Bernanke — and most other experts —
failed to see coming, ended an era of minimalism in central banking.
Summers vs. Yellen
Scorecard: Who’s Supporting Whom? – The
Big Picture
Why the Fed's
bond-buying may not have helped the economy – Wonkblog
/ WP
Some
expect the political game of chicken to keep the Fed on hold in September – Sober
Look
The Taper Risk Is In
Stocks Not Bonds – ZH
Weekend Sentiment
Summary (August Week 4) – The
Short Side of the Long
ASIA
FT podcast: World
Weekly with Gideon Rachman – The
World / FT
Currency jitters in India and emerging markets
The share of private household consumption in GDP for The US and China since 1970. The share of consumption has risen in the US and fallen in China.
OTHER
FX Comment: VIXcious
circle – Nordea
The tone of the Jackson Hole conference over the
weekend? A mix of scepticism toward QE, fear of exit, support for market
intervention and capital controls… It’s just more evidence to me that the
pendulum is swinging to a cooperative, away from the competitive, solution to
the world’s financial order which has dominated since the collapse of Bretton
Woods in early 70s.
Barry Ritholtz: How
to avoid being a Wall Street muppet – WP
The crisis is over.
The challenges for central bankers are only beginning. – Wonkblog
/ WP
Missing the point at
the IMF – mainly
macro
Can You Solve A Debt
Problem With More Debt? – Noahpinion
Factor This Into Your
Portfolio (Part 1 of 2) – Rick
Ferri
Factor This Into Your
Portfolio (Part 2 of 2) – Rick
Ferri
Imperfect Views – Morningstar
Investment graphics don't always mean what they seem.
Great Graphic:
S&P 500 and Emerging Market Equities Constructive Outlook – Marc
to Market
Up Against Hard
Limits: Food and Finance – of
two minds
We are reaching hard limits in food production and financial
engineering.
Best And Worst
Performing Hedge Funds Of 2013 – ZH
30 year fixed rate
mortgages are awesome – Noahpinion
Where have all the
cowboys come from? – alphaville
/ FT
…here we are with a plethora of scandals and misdeeds. Why do so many in
the industry lose their way?
What is shadow
banking? – voxeu.org
There is much confusion about what shadow banking is and why it might
create systemic risks. This column presents shadow banking as ‘all financial
activities, except traditional banking, which require a private or public
backstop to operate’. The idea that shadow banking is something that needs a
backstop changes how we think about regulation. Although it won’t be easy,
regulation is possible.
Blogs review: The
intellectual legacy of Milton Friedman – Bruegel
What started as a series of post by David Glasner on the legacy of
Milton Friedman turned into a major dispute after Paul Krugman wrote that
“historians of economic thought will regard him as little more than an extended
footnote”. Although it quickly appeared that the statement did not apply to
Friedman, the economist, but to Friedman, the guiding light for conservative economic
policies (see for example his influential Free to Choose TV series), the
discussion continued as to whether the Great Recession had given a serious hit
to Friedman’s economic analysis.
CENTRAL BANKING
Jackson Hole 2013 – A
high unemployment equilibrium? – Money
Supply / FT
Jackson Hole Presenter Warns: "Bottom Could Fall Out Of The
Economy As It Did In The Great Depression" – ZH
A new toolkit – Free
exchange / The Economist
Central banks must get uysed to pulling a new set of policy levers.
Central bankers: The
apprentices – The
Economist
OFF-TOPIC
Brian Cox on What
Earthly Phenomena Reveal about the Wonders of the Solar System – brain
pickings
Inside one of the
world’s biggest news organizations – BBC
Bloomberg’s New York office.
Timeline Maps – Chartporn
Rise of the bullshit
job –
Macrobusiness
On "bullshit
jobs" – Free
exchange / The Economist
Horror of North
Korean prison camps exposed at U.N. panel hearing – Reuters
Public executions and torture are daily occurrences in North Korea's prisons, according
to dramatic testimony from former inmates at a U.N. Commission of Inquiry that
opened in South Korea's capital on
Tuesday.
Happiness is good for
you shock – alphaville
/ FT
FINNISH
Tähän
mennessä siis edustuskuluja on saanut vähentää verotuksessa. Toisinpäin tämä
tarkoittaa, että me kaikki veronmaksajat olemme yhteisestä kassasta
subventoineet yrityspomojen rälläämistä noin 37 miljoonalla eurolla vuodessa.
Katainen: Ensi viikolla ei päätöksiä uusista
leikkauksista – YLE
Soini: Hallitukseen on pakko päästä – TS
Yli 60 prosenttia suomalaisista haluaa
ruotsin kielen vapaavalintaiseksi kouluaineeksi – YLE
Etujärjestöt ja tutkijat etsivät
pääministerin johdolla viisastenkiveä – YLE
Heureka-foorumissa
yritetään maanantaina saada aikaan yhteinen näkemys Suomen talous- ja
työllisyystilanteesta.