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U.S. Inflation Undershoots the Fed’s 2% Target for the 34th Straight Month

The Federal Reserve’s preferred measure of inflation in February fell short of the central bank’s 2% target for the 34th straight month. The price index for personal consumption expenditures was up only 0.3% from a year earlier, the...



Morning News: March 30, 2015

Forecasters Shrug Off Winter Economic Blues China Stocks Surge to 7-year Highs on Silk Road Building Project, Easing Hopes Amid Yemen Chaos, China Keeps Oil Shipments Flowing Japan Clips Thailand’s Wings With Airline Ban Consumer Spending in U.S....



Can the Eurozone Survive? Not in Its Current Form Says PIMCO; Mish Response

Echoing statements I have made many times, PIMCO says the single currency area must become a "United States of Europe" in order to secure its future.Please consider Eurozone can't survive in current form, says PIMCO. The eurozone is...



NYT MONDAY: Crash tests cherished notions in Germany...

NYT MONDAY: Crash tests cherished notions in Germany...(Second column, 5th story, link)Related stories:Crash pilot was psychiatric patient, planned big gesture...'Heinous act that will be remembered forever'...'Everyone will know my...



Do Air Conditioners Explain the Rise of the South?

Paul Krugman says yes and yes:The rise of the US sunbelt can be understood largely as a response to the emergence of widespread air conditioning, which made places that are warm in the winter attractive despite humid, muggy summers. It’s a gradual,...



HILLARY 'WIPED HER SERVER CLEAN'...

HILLARY 'WIPED HER SERVER CLEAN'...(Third column, 3rd story, link)Related stories:RNC: 'Even Nixon didn't destroy the tapes'...New questions about Huma's special status...Private Emails Reveal Secret Spy Network... ...



'Unreal Keynesians'

Paul Krugman: Unreal Keynesians: Brad DeLong points me to Lars Syll declaring that I am not a “real Keynesian”, because I use equilibrium models and don’t emphasize the instability of expectations. ... I don’t care whether...



Links for 03-29-15

The myth of Europe’s Little Ice Age - Vox EU When Your Occupation Is Poverty - Mike Cassidy Employment and the Minimum Wage - Econbrowser Politicians or Technocrats: Who Splits the Cake? - Carola Binder Unreal Keynesians - Paul...



Tesla's Self-Driving Feature Leaves Insurers Idling As States Scramble

Tesla Motors’ plan to roll out a self-driving feature on some cars this summer has regulators, especially in its home state of California, scrambling to write new rules. Current California law allows automakers to operate autonomous vehicles --...



Links for 03-28-15

Hidden Healthcare Horrors - Paul Krugman John Maynard Keynes on the Trade Cycle - Brad DeLong How long commutes worsen inequality - Mark Thoma Deflation: the modern policy bogeyman - Gillian Tett Normalizing Monetary Policy: Prospects and Perspectives -...



Is Finland’s Economy Suffering From Secular Stagnation?

“After the Great Depression, secular stagnation turned out to be a figment of economists’ imaginations……it is still too soon to tell if this will also be the case after the Great Recession. However, the risks of...



Citadel to Shut Down Dark Pool

Citadel Securities plans to shut down its Apogee “dark pool” in the U.S., as it focuses on its faster-growing off-exchange trading...



Intel may be about to drop $10 billion on what could be its biggest acquisition ever

Intel is in talks to buy Altera, The Wall Street Journal reports.  It could be Intel's biggest acquisition ever — Altera had a market value of $10.4 billion as of Friday. At the time of writing, Altera stock is up 22%.  The...



Fed's Janet Yellen Pitches Cautious Tack on Rate Increases

Federal Reserve Chairwoman Janet Yellen laid out a case for a “gradualist approach” to interest-rate increases in the years ahead, spelling out in greater detail than she has before the risks of moving too aggressively to tighten U.S....



Yellen, Normalizing Monetary Policy: Prospects and Perspectives

Speech at the Federal Reserve Bank of San Francisco, San Francisco,...



American Apparel (APP) CEO Dov Charney Is Back, Back Again…

American Apparel CEO Dov Is Back, Back Again… by Todd Sullivan ValuePlays This reminds me of the chorus in  Eminem’s “Guess Who’s Back” : Guess who’s back, back again Shady’s back, tell a friend Guess...



Something At GameStop (GME) Doesn’t Add Up

Something At GameStop Doesn’t Add Up by Todd Sullivan, ValuePlays. So GameStop reported last night and in an attempt to quash the inevitable “is digital eating your business” questions, the company made sure in print and...



Fed’s Stanley Fischer Takes Aim At Unregulated Derivatives, Hedge Funds

Noting the nonbank financial sector in the U.S. was never this large, Stanley Fischer, the powerful vice chairman of the U.S. Federal Reserve, called for large U.S. asset managers and other nonbank financial firms to be subject to regulatory arm of the...



'Microeconomic Origins of Macroeconomic Tail Risks'

Microfoundations from Acemogl, Oxdaglar, and Tahbaz-salehi: Microeconomic origins of macroeconomic tail risks, by Daron Acemoglu, Asuman Ozdaglar, and Alireza Tahbaz-Salehi: Understanding large economic downturns is one of macroeconomics’ central...



LightSquared’s Restructuring Plan Gets Nod From Judge

LightSquared secured a judge’s approval on Thursday for its restructuring plan, an elusive milestone for Philip Falcone’s ambitious wireless venture that went bankrupt nearly three years ago. The approved plan was the latest in at least a...



Has Japan's 'Big Bazooka' Misfired?

Japan is drifting back toward deflation, underscoring the continuing difficulties in pulling the world’s third-largest economy out of its long...



A Tale Of Two Economies: Singapore And Cuba



Mohandas Gandhi (1) vs. Philip K. Dick (2); Hobbes advances

All of yesterday‘s best comments were in favor of the political philosopher. Adam writes: With Hobbes, the seminar would be “nasty, brutish, and short.” And it would degenerate into a “war of all against all.” In other...



5 Costco Kirkland Signature Products May Be Just As Good As Name Brands

(photographybynatalia)Costco members know they can often get a decent price on name-brand kitchen staples by shopping in bulk at the warehouse store. But if you’ve been ignoring the company’s store-brand Kirkland Signature line of...



Omega Advisors’ Leon Cooperman Receives Subpoena

A major hedge fund manager, coming off a difficult 2014, just got hit again, being subject of a subpoena from the U.S. Attorney’s Office in New Jersey and the Securities and Exchange Commission. Leon Cooperman receives subpoena, investigation in...



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NYT MONDAY: Crash tests cherished notions in Germany...

NYT MONDAY: Crash tests cherished notions in Germany...(Second column, 5th story, link)Related stories:Crash pilot was psychiatric patient, planned big gesture...'Heinous act that will be remembered forever'...'Everyone will know my...



U.S. Inflation Undershoots the Fed’s 2% Target for the 34th Straight Month

The Federal Reserve’s preferred measure of inflation in February fell short of the central bank’s 2% target for the 34th straight month. The price index for personal consumption expenditures was up only 0.3% from a year earlier, the...



Morning News: March 30, 2015

Forecasters Shrug Off Winter Economic Blues China Stocks Surge to 7-year Highs on Silk Road Building Project, Easing Hopes Amid Yemen Chaos, China Keeps Oil Shipments Flowing Japan Clips Thailand’s Wings With Airline Ban Consumer Spending in U.S....



Hutchison to buy U.K. carrier O2 for up to US$15 billion

Hutchison Whampoa has agreed to acquire U.K. mobile operator O2 for a price that could top US$15 billion, giving a company that already owns one major carrier an even bigger share of the British market.The deal, which has been in the works at least...



Why Is Closed Captioning So Bad?

Over at Marginal Revolution, commenter Jan A. asks: Why is the (global) state of subtitling and closed captioning so bad? a/ Subtitling and closed captioning are extremely efficient ways of learning new languages, for example for immigrants wanting...



Mark Cuban: We're in a Tech Bubble -- And It's Worse Than 2000

The Dallas Mavericks owner and dot-com entrepreneur warns against the current mania of investment in apps and other smaller tech...



Fed shifts power away from New York

The New York Federal Reserve Bank's regulatory power shifted to a committee in Washington, the WSJ reported on...



The Drop in the Value of the Euro Would Have the Same Impact on Oil Prices in Europe If Oil Was Priced in Euros

The silly things you read in the NYT! It really doesn't matter what units oil is priced in. We get a market price that is determined by supply and demand. This will be higher measured in euros any time the euro falls in value simply because at the...



Currency Movements Take On a Bigger Share of Economic News

News coverage of the global economy turned slightly positive in February, according to data released Tuesday, and foreign-exchange movements are taking on more importance this year. The Absolute Strategy Research/Wall Street Journal global composite...



Fed Likely to Remove 'Patient' Barrier for Rate Increase as Soon as June

The Federal Reserve is strongly considering removing a barrier to raising short-term interest rates, by dropping its promise to be “patient” before...



Further reading

Elsewhere on Friday… - Closer to the rise - The case against killer robotsContinue reading: Further...



De Blasio cracks down -- on juice...

De Blasio cracks down -- on juice...(First column, 1st story, link)Related stories:Orders children to not sit more than 30 minutes... ...



The New Brand of Authoritarianism

From Vox EU: The new authoritarianism, by Sergei Guriev, Daniel Treisman, Vox EU: The changing dictatorships Dictatorships are not what they used to be. The totalitarian tyrants of the past – such as Hitler, Stalin, Mao, or Pol Pot...



WTI dips to six-year low below $43

U.S. crude fell below $43 a barrel on Monday for the first time since March...



Netflix, Inc. (NFLX) Reneges On Net Neutrality Position, Says L. Gordon Crovitz

Netflix, Inc. (NASDAQ:NFLX) has gone back on its position of back strong Net Neutrality rules, a post from The Wall Street Journal’s L. Gordon Crovitz ventures. According to Crovitz, David Wells, Netflix chief financial officer, disclosed at the...



Mutual Funds Pile Into Securities With “Eye-Popping Valuations”

Once staid mutual funds are exploring new — and potentially riskier —  territory in search of higher returns. An increasing number of major mutual funds are pulling the trigger on investments in higher risk-higher return tech...



Links for 03-28-15

Hidden Healthcare Horrors - Paul Krugman John Maynard Keynes on the Trade Cycle - Brad DeLong How long commutes worsen inequality - Mark Thoma Deflation: the modern policy bogeyman - Gillian Tett Normalizing Monetary Policy: Prospects and Perspectives -...



Dyal Capital Buys 20% Stake In Hedge Fund Jana Partners

According to a March 18th article in the Wall Street Journal, Barry Rosenstein’s Jana Partners hedge fund has sold a 20% stake to Dyal Capital Partners (a division of investment manager Neuberger Berman). Industry analysts say this can be seen...



We’ll Always Have Paris

“Is it time for the Jews to leave Europe?” That’s the question Jeffrey Goldberg raises in a richly reported article in the Atlantic. He concludes that perhaps they should, due to resurgent anti-Semitism. “For Jews who would like...