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Links for 02-28-15

The Closed Minds Problem - Paul Krugman New Keynesian Financial Frictions - Robert Waldmann Why Markets Can't Price the Priceless - TAP Handy Book of Economic Growth - Growth Economics Market monetarists and the ‘myth’ of long and...



“Davidson” on Markets

  “Davidson” submits: “Can you tell how many, what type and where fish are in the oceans by looking at the waves?”   This is […] The post “Davidson” on Markets appeared first...



Fed's Fischer: "Conducting Monetary Policy with a Large Balance Sheet"

A review of policy normalization by Fed Vice Chairman Stanley Fischer: Conducting Monetary Policy with a Large Balance Sheet (excerpt)Turning to policy normalization, the FOMC and market participants anticipate that the federal funds rate will be raised...



Dalio’s Bridgewater Said To Start Artificial-Intelligence Team

The world’s largest hedge fund manager is banking on machines. Ray Dalio’s $165 billion Bridgewater Associates will start a new, artificial-intelligence unit next month with about half a dozen people. The team will report to David Ferrucci,...



U.S. Growth in 2014 Looking Less Robust

The U.S. economy cooled in the final months of 2014, a return to the moderate growth that has marked much of the...



One French investor has an unbelievable 'magic ticket' that is turning him into a billionaire without any risk

One French investor owns a financial contract so good that most people wouldn't believe it exists. It gave him 68.6% returns every year from 1997 to 2007, and he's exposed to almost no risk at all. That man is Max-Hervé George,...



Credit supply and the housing boom

There is no consensus among economists on the forces that drove the historical rise of US house prices and household debt that preceded the Global Crisis. In this column, the authors argue that the fundamental factor behind that boom was an increase in...



FINANCIAL ADVISOR INSIGHTS: A new bill in New York could give whistleblowers a big cut of recovered money

FA Insights is a daily newsletter from Business Insider that delivers top news and commentary for financial advisors. New York's attorney general considers whistleblower incentive bill  (Think Advisor) New York Attorney General...



Net Neutrality Prevails! But There Is a Small Downside

Source: Adam Berry/Getty Images Well, that was a wild ride. The Federal Communications Commission (FCC) has decided to approve net neutrality rules by a 3-2 vote, ensuring that the Internet will remain a free and open resource, regulated much like a...



Apple's crazy car plans in 10 thoughts

An Apple car may seem nuts. Or maybe not. Here are the 10 best reasons for and against Apple's move into...



Federal Reserve Board extends comment period until April 3 for proposed rule to implement capital surcharges for largest, most systemically important...

Federal Reserve Board extends comment period until April 3 for proposed rule to implement capital surcharges for largest, most systemically important U.S. bank holding...



William Shakespeare (1) vs. Karl Marx

For yesterday‘s winner, I’ll follow the reasoning of Manuel in comments: Popper. We would learn more from falsifying the hypothesis that Popper’s talk is boring than what we would learn from falsifying the hypothesis that...



Net Neutrality Up For A Key Vote Today By FCC Board

An essential question will be decided today about how the Internet works: Should service providers be a neutral gateway or should they handle different types of Internet traffic in different ways?» E-Mail...



Quantitative Easing and Monetary Aggregates



The letter Wall Street sent to potential Argentina investors is hilarious

If you're going to invest in Argentina, you better put on your big boy pants, and be prepared to lose them. That's the tone of a letter JP Morgan and Deutsche Bank sent potential investors in a proposed Argentine bond offering that was...



Fight To Protect Insider Trading Convictions Heats Up

As U.S. Attorneys in the Southern District of New York prepare to fight for what might amount to defending nearly 80 insider trading convictions, newly unsealed documents shed light on one of the more controversial cases. Four years after FBI agents...



Argentina Bond Sale Is Suspended Amid Hedge Fund Pressure

Demands by a federal judge in Manhattan are said to have led JPMorgan Chase and Deutsche Bank to pull back on their deal...



The Maddest Men of All Full Transcript

This is a transcript of the Freakonomics Radio podcast “The Maddest Men of All“ [MUSIC: Pearl Django, “Almost Home” (from Collected Original Compositions)] Rory SUTHERLAND: I’m Rory Sutherland. I’m the vice...



Why the Dip Into Deflation Should Be Short-Lived

The drop in the consumer price index is centered in energy prices, with the gasoline index alone plunging 18.7% in January over December. Getty Images The U.S. saw its first month of deflation since 2009, but economists say the nation is not headed...



Making Do With More

Ensuring that the workers of today and tomorrow can capture the benefits of the information age will require us to redesign our economic system. Only by finding ways to put true value on the goods we produce can we sustain a middle-class society, rather...



Fed's Yellen Fends Off Charges of Partisan Tilt

Federal Reserve Chairwoman Janet Yellen came under fire from Republican lawmakers who charged she had politicized the central bank, allegations she rejected in her most acrimonious congressional hearing in a year as Fed...



Fed Gives Congress Room to Shirk Resposibility

One of my favorite thought experiments is the careful-what-you-wish-for scenario. I was reminded of its utility during Federal Reserve chief Janet Yellen’s Congressional testimony the other day. Consider the critique of the Fed by...



Morgan Stanley in $2.6 Billion Mortgage Settlement

The penalty will more than wipe out the $1 billion in quarterly profits that the Wall Street firm had announced last...



Facebook Inc Rolls Out Improved Suicide Prevention Feature

Facebook has launched a new feature, which is available on both desktop and mobile, to enable users to report when a friend appears to be in distress and hopefully prevent suicides. Currently around 50% of Facebook users in the United States...



Regulator Considering New Rules To Prevent Bank Cyber Attack

Regulators for the state of New York are planning to take steps to make banks become better prepared for an Armageddon-type cyber attack that could seriously damage U.S. and even global financial markets. Benjamin Lawsky, chief of the Department of...



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Fed's Fischer: "Conducting Monetary Policy with a Large Balance Sheet"

A review of policy normalization by Fed Vice Chairman Stanley Fischer: Conducting Monetary Policy with a Large Balance Sheet (excerpt)Turning to policy normalization, the FOMC and market participants anticipate that the federal funds rate will be raised...



Arnott Sees 'Peasants With Pitchforks' If Profits Get Any Fatter



Social Media Newsfeed: Twitter CFO’s Account Hacked | Facebook Atlas Ad Network Expands

Click here to receive the Morning Social Media Newsfeed via email. Twitter Finance Chief’s Twitter Account Gets Hacked (SocialTimes) Tuesday the Twitter profile of the company’s chief financial officer, Anthony Noto, was hacked. The account...



Fed Watch: Upbeat Jobs Report

Tim Duy: Upbeat Jobs Report, by Tim Duy: The January jobs report came in above expectations, with nonfarm payrolls growing by 257k and, more importantly, there were large upward revisions to the previous two months. Simply put rumors of the demise of...



Saudi Aramco Feeling The Pinch Of Lower Oil Prices: WSJ

Saudi Aramco, Saudi Arabia’s national oil company and the richest oil firm in the world, is starting to feel the pinch of much lower oil prices. According to the Wall Street Journal, the firm, once known as a free-spender, is now cutting back in...



FINANCIAL ADVISOR INSIGHTS: A new bill in New York could give whistleblowers a big cut of recovered money

FA Insights is a daily newsletter from Business Insider that delivers top news and commentary for financial advisors. New York's attorney general considers whistleblower incentive bill  (Think Advisor) New York Attorney General...



One French investor has an unbelievable 'magic ticket' that is turning him into a billionaire without any risk

One French investor owns a financial contract so good that most people wouldn't believe it exists. It gave him 68.6% returns every year from 1997 to 2007, and he's exposed to almost no risk at all. That man is Max-Hervé George,...



Algorithm Aversion: People Erroneously Avoid Algorithms after Seeing Them Err by Berkeley J. Dietvorst, Joseph P. Simmons, Cade Massey :: SSRN

"Algorithm Aversion: People Erroneously Avoid Algorithms after Seeing Them Err" http://t.co/7OCC2NqCtI via @freakonometrics — D. Geromichalos ScD...



'Greece Did OK'

How did Greece do? Paul Krugman says: Greece Did OK: Now that the dust has settled a bit, we can look calmly at the deal — if it really is a deal that survives through tomorrow, which some people doubt. And it’s increasingly clear that Greece...



Apple Inc. (AAPL) Reached Average Street’s Price Target Of $133.15 Per Share; What Next?

Apple Inc. (NASDAQ:AAPL) is having a tremendous 2015 so far with share prices going up by more than 20% Year To Date. The stock closed on a record high value of $133 per stock on Monday. This 2.7% move up on Monday also pushed Apple Inc....



Net Neutrality Prevails! But There Is a Small Downside

Source: Adam Berry/Getty Images Well, that was a wild ride. The Federal Communications Commission (FCC) has decided to approve net neutrality rules by a 3-2 vote, ensuring that the Internet will remain a free and open resource, regulated much like a...



Links for 02-15-15

Naked Came The Class Warriors - Paul Krugman Human Capital" and "Land Capital - Nick Rowe On not being politically partisan - mainly macro The Taper Tantrum - Angry Bear Greece's Excess Burden - Paul Krugman House prices:...



U.S. Growth in 2014 Looking Less Robust

The U.S. economy cooled in the final months of 2014, a return to the moderate growth that has marked much of the...



Is blogging dead?

Lambert here: Imminent death of the blog predicted. To answer the question, no; see Naked Capitalism here for a proof by example (linked to by blogger Brad DeLong). Granted, that post is from 2013, but if you want to hammer away at a set of ideas in long...



Reuters reports there is 'no deal' between Greece and its creditors (EUR, USD)

Update 4:55 pm ET: Headlines from Reuters, citing a Greek government official, said that there is "no deal" between Greece and its creditors. From Reuters, via Societe Generale's Sebastian Galy: "RTRS - EUROGROUP SOURCE TELLS REUTERS...



Conspiracy FACT: Gold Manipulation Goes Front Page

First they laugh at you, then they listen to you, then they learn from you. Well today, regular readers of Kid Dynamite’s World are laughing at the hysteria around the Wall Street Journal’s article “Big Banks Face Scrutiny...



Luxury carmaker Rolls-Royce to build offroading SUV

The move appears to be aimed at heading off rival Bentley's coming SUV...



'Robots Aren’t About to Take Your Job'

Timothy Aeppel at the WSJ: Be Calm, Robots Aren’t About to Take Your Job, MIT Economist Says: David Autor knows a lot about robots. He doesn’t think they’re set to devour our jobs. ... His is “the non-alarmist view”... Mr....



'The Cost of Delaying Action to Stem Climate Change'

Jason Furman, Ron Shadbegian, and Jim Stock: The cost of delaying action to stem climate change: A meta-analysis, Vox EU: Summary The cost of delaying climate action has been studied extensively. This column discusses new findings based on a...