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Thomas Piketty Proposals to Advance Income Equality

Daniel Shuchman in WSJ informs on some of the proposals and ideas bandied about by Thomas Piketty in Capital in the Twenty-First Century: Mr. Piketty urges an 80% tax rate on incomes starting at "$500,000 or $1 million." This is not...



Links for 4-23-14

Class-Ridden America - Paul Krugman Bernanke Says Fed Could Have Communicated Better - WSJ Acceleration Is Forecast for Spending on Health - NYTimes.com A post-crash manifesto to rebuild economics - Money Supply Too Big to Fail. Not Too Strong - David...



Hedge Fund News: Bill Ackman, Crispin Odey & David Tepper

Valeant Pharmaceuticals shares climb as it teams up with Bill Ackman to buy $42.2B Botox maker (FinancialPost) Canada’s largest pharmaceutical company and the U.S. activist investor who overhauled CP Rail have joined forces in a mega-deal to buy...



David Einhorn: we are in a new Tech Bubble

Pretty interesting comments from the latest David Einhorn letter. The savvy hedge fund manager says we are indeed in a new tech bubble and has even formed an entirely new group of stocks in his fund that he has dubbed the "bubble basket". ...



Citigroup Inc. Stock “Set To Double” In The Medium-Term: Mike Mayo

Shares are still pinned by problems in the wider industry as well as issues with Federal Reserve stress testsMike Mayo reckons that stock in Citigroup Inc. (NYSE:C) could double over the medium term. The bank analyst made the comments while speaking to...



Apple Patents Driver Distraction Lockdown Mode For iPhones

 Apple has been granted a new patent by the USPTO (via AppleInsider), and it’s one that could potentially prevent a lot of careless driving. The tech described in the patent would use a phone’s on-board sensors, or a...



Despite Losses, Hedge Funds Still Bullish On Japanese Markets

Hedge fund managers say Japanese markets are likely to stabilize in the second half of 2014The various twists and turns of Abenomics are not making everyone happy. Except for a few contrarian funds, hedge funds have been taking heavy losses on Japanese...



The amazing energy efficiency of the US economy

Mark Perry today has a nice post celebrating Earth Day from an economist's perspective, including a chart showing how the U.S. economy today uses far less energy per unit of output than it did in 1950. To complement his post, I offer the following...



SunPower Corporation (SPWR) Stock Jumps On “Buy” Rating

SunPower Corporation (NASDAQ:SPWR) shares gained more than 5% on today’s market after the company received a rather fetching Buy rating from Brean Capital in a report released before market open on Tuesday. The report put a price target of $32...



Capitalization-Weighted Index Funds: A Closer Look At “Smart Beta”

by David Markel, CFO of the AlephBlog Are index funds that are capitalization-weighted the best funds to invest in?  No.  So why do we talk about index funds so much?  Because they represent the average dollar in the market.  In...



Links for 4-22-14

No Time For Sargent - Paul Krugman Sargent’s Graduation Speech - Leisure of the Theory Class Interpreting Deviations from Okun’s Law - FRBSF The contradiction in economics - Antonio Fatas Inflation and NK Models - Del Negro, Giannoni,...



Further reading

Elsewhere on Tuesday, - The most expensive lottery ticket in the world. - Cowen reviews Piketty. - The contradiction in economics.Continue reading: Further...



Mail Campaign Boosts Loeb’s Candidates In Sotheby’s Fight

An aggressive campaign mailer draws direct comparisons between candidates for Sotheby's board of directorsThe campaign season is heating up.  No, not the midterm Congressional elections.  This is the campaign for shareholder mindshare as...



Who is Playing for a House of Cards?

Netflix reports after the bell today, and I suspect the reaction tonight and in the coming days should be telling as to the overall health of the market and its growth leaders. Who is paying earnings? How are you positioned? Common, calls, or...



Reply to DeLong smackdown

In a recent post I claimed that monetary policy failure associated with the zero bound, not financial turmoil was the cause of the Great Recession.  Brad DeLong had correctly noted that the S&L fiasco of the late 1980s involved losses...



Barclays PLC (BCS) To Exit The Commodities Trade

Precious metals will be combined with forex, but other commodities businesses expected to be sold or shut downBarclays PLC (NYSE:BCS) (LON:BARC) is expected to announce plans to pull out of the commodities market tomorrow as it sheds businesses with...



Bonus Monday Smackdown Watch: Ryan Avent vs. Clive Crook on Thomas Piketty's "Capital in the Twenty-First Century"

Ryan Avent: Inequality: "Capital" and Its Discontents | The Economist: "Mr Piketty's magnum opus is certainly not without its weaknesses... ...but the quality of the criticism it has attracted provides a sense of the strength of...



San Francisco Fed Paper: Okun’s Law Isn’t Broken, As Many Had Feared

One of the Great Recession’s enduring mysteries has been the apparent breakdown in longstanding relationships between the economy’s growth rate and unemployment during and after the downturn. Economists have long looked to a rule of thumb...



Here’s the good news…

Lots of talk about economic “Escape Velocity” these days, and whether or not we’ll actually see it in 2014. We’ve had four annual false starts for escape velocity since 2010 – every spring we look like...



Let me know when to start panicking about health care spending again

For some time, we’ve seen a slowdown in health care spending. Some argued that this was due to the ACA. Others thought it was the slowed-down economy. I’ve been one of the people happy to say “I don’t...



BlackBerry Ltd ‘Classic’ To Make Its Debut In November

In an interview, CEO John Chen revealed November as a possible month for the launch of the BlackBerry Classic handsetBlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) announced during MWC 2014 that a new device called BlackBerry Classic was in the works. Not much...



Links for 4-20-14

Obamacare Versus The Wusses - Paul Krugman Not a summary of economics - Noahpinion Misunderstanding macroeconomic models - mainly macro Is Subprime Mortgage Credit Back? - House of Debt My Head Talks Piketty With Bill Moyers - Paul Krugman Creeping...



Links for 4-19-14

On the Liberal Bias of Facts - Paul Krugman Capitalism and the Dalai Lama - NYTimes.com I Saw a Monetarist Drinking a Pina Colada... - Brad DeLong Punish wage theft as severely as robbery - Catherine Rampell Don't Know Much About History, Rand...



More Money, More Life: The Depressing Truth About Inequality in America

Brookings economist Barry Bosworth crunches the data on income and lifespans for the Wall Street Journal, and the numbers tell three clear stories.  1. Rich people live longer. 2. Richer people's lifespans are growing at a faster rate. 3. The...



Obama Is Wrong. Democrats Shouldn't Pivot From the Obamacare Fight.

The obvious inspiration for President Obama's Thursday press conference was to announce that the Affordable Care Act has eclipsed new milestones—8 million private exchange...



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Thomas Piketty Proposals to Advance Income Equality

Daniel Shuchman in WSJ informs on some of the proposals and ideas bandied about by Thomas Piketty in Capital in the Twenty-First Century: Mr. Piketty urges an 80% tax rate on incomes starting at "$500,000 or $1 million." This is not...



Jeremy C. Stein submits resignation as a member of the Board of Governors, effective May 28, 2014

Jeremy C. Stein submits resignation as a member of the Board of Governors, effective May 28,...



Yahoo Japan slumps to near four-month low after eAccess buy

TOKYO (Reuters) - Shares in Yahoo Japan Corp slumped 10.2 percent to a near four-month low on Friday after it said it will buy mobile network operator eAccess from Japanese wireless carrier Softbank... ...



The Downward Drift in Real Interest Rates

David Wessel reports on the IMF's World Economic Outlook: The Downward Drift in Inflation-Adjusted Interest Rates: Why? And So What?, by David Wessel, WSJ: ...Two economists writing in the International Monetary Fund’s new World Economic...



'Economy Adds 192,000 Jobs in March, Unemployment Rate Unchanged'

Dean Baker (see also "Comments on Employment Report" by Calculated Risk): Economy Adds 192,000 Jobs in March, Unemployment Rate Unchanged: The ACA appears to be allowing workers to opt for part-time jobs and older workers to retire...



Here's 20-Year-Old Warren Buffett's Investing Advice From 1951

Warren Buffett's been investing for a long time. ValueWalk's Jacob Wolinsky just posted this piece by the then 20-year-old investment salesman Warren E. Buffett. It's dated Thursday, December 6, 1951 and it comes from a publication called...