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EUROPE
Habermas
gropes for “solidarity” – Craig
Willy
European
banking tests: Exam nerves – The
Economist
The
collapse of Banco Espírito Santo is a salutary reminder that Europe’s banking woes have not gone away.
UKRAINE / RUSSIA
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
UNITED STATES
IMF: Right
Policies Could Reverse Some of U.S. Labor Force Decline – WSJ
White
House: Labor Market About 80% Back to Precrisis Level – WSJ
MARKETS
What
Does Sentiment Suggest for Future Returns – The
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 Charts – WSJ
5 Things
To Ponder: Buy The Dip Or Market Correction – dshort
Recap
2014-08-08 : Bunds, Stocks – Global
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 Avoid – Morningstar
Lightening
up on stocks? See if you can't achieve other goals at the same time.
Global
Stock Market Valuation and Historical Real Returns – Philosophical
Economics
12 Books
Every Investor Should Read – Farnam
Street
Unfortunate
Realities of the Investment Business – A
Wealth of Common Sense
Buttonwood:
Practice makes imperfect – The
Economist
Even
experienced fund managers don’t beat the market
'Flash
Boys' and the Speed of Lies – BB
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 Street – CNBC
ECONOMICS
Friedman
Redux: External Adjustment and Exchange Rate Flexibility – IMF
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
Reaganolatry – Krugman /
NYT
Markov
Chains explained visually – Flowing
Data
What
macroprudential regulation is, and why it matters – The
Economist
Cognitive
dissonance in politics, markets and monetary policy – Market
Monetarist
DEBATE: LIBERTARIANISM
Has the
‘Libertarian Moment’ Finally Arrived? – NYT
Libertarian
Fantasies – Krugman
/ NYT
DEBATE 2: CALLING NAMES
Paul
Krugman: Stop Calling People Names – Forbes
Oh Dear.
Larry Kotlikoff Fails to Read... – Delong
Con Men
Aren’t Stupid – Krugman
/ NYT
OFF-TOPIC
How casinos
get you to spend more money
The
12-step dogma – Aeon
The new
science of addiction makes 12-step programmes seem like folk medicine. Is the
concept of a higher power obsolete?
The
Spies Next Door – Washingtonian
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 fever – The
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 contact
– WaPo
Researchers
put two Spanish-speakers on a train and changed commuters’ views of immigration
Get
Lucky – AVC
The Most
Fascinating Profile You’ll Ever Read About a Guy and His Boring Startup – Wired
MARIJUANA
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
FINNISH
Dansken ekonomisti: Pakotteet nurin parissa kuukaudessa
– KL
Danske Bankin kehittyviä markkinoita seuraavan ekonomistin
mukaan pitkittyvä kauppasota ei hyödytä EU:ta eikä Venäjää.
Hyvää yötä Espanja – veronmaksajat katoavat – Tyhmyri
Byrokratiaa, sun laulusi soi – Takkirauta
Ekonomisti epäilee valtion alijäämän paisuvan
miljardeilla suunnitellusta – Verkkouutiset
Nordean pääekonomisti Aki Kangasharju ei luota
valtiovarainministeriön budjettiesityksen pohjalla oleviin kasvulukuihin.
Tilausten nousu katkesi kuin kanan lento – Nordea