Written by Gary
U.S. stock futures indexes are down sharply this morning and are set to open lower as uncertain economic data from China and Japan continued to worry investors. Oil prices have pulled back fractionally as investors cover short positions and take profits following an 8% rise in the previous session.
SPY was down 2.5% (and falling) as U.S. markets are expected gap down at the opening.
Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.
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from the Liberty Street Economics
-- this post authored by Rod Garratt
The 2012 Nobel Prize in economics was awarded to Alvin E. Roth and Lloyd S. Shapley for their work on matching problems. Two-sided matching problems, like assigning jobs to workers or dorm rooms to students, can be complicated enough. But sometimes the matching problem can be even more difficult. It may be that an item supplied by Alice is useful to Bob, but Bob has nothing of value to give to Alice. If, however, the item supplied by Bob is valuable to Charlie, then there is the potential for a matching chain. Charlie gives something to Alice, Alice gives something to Bob, and Bob gives something to Charlie. Such chains can by themselves be very complicated, and work must be done to identify chains that provide the most benefit. The first Nobel laureate mentioned above has done considerable work designing matching mechanisms used in kidney exchange. But why is all of this necessary? Why isn't there simply a market with prices?
Infographic Of The Day: Tackling Sleep Deprivation And Other Sleep Maladies
We have identified the 7 deadly sleep depriving monsters from their continued research on dreams and sleep habits.
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by James Rickards, Daily Reckoning
The Federal Reserve uses a complicated econometric model to make its forecasts about the U.S. economy. This model is called 'Federal Reserve Bank U.S.,' nicknamed FERBUS. It shows growth of 5% in the near future.
Article of the Week from Money Morning
by David Zeiler, Associate Editor, Money Morning
Although stocks have recovered somewhat, the six consecutive days of losses have many investors asking, 'Is this a bear market?'
31Aug2015 Market Close: Markets Close Down, Oil Remains High, But Sliding As All Market Indicators A
31Aug2015 Market Update: DOW Off 97 Points, Markets Pausing Previous Bullish Action, Oil Going Crazy
31Aug2015 Pre-Market Commentary: U.S. Futures Down Sharply, Oil Up But Trending Down, September Rate
July 2015 CoreLogic Home Prices Year-over-Year Growth Rate Now 6.9%. Home Price Growth Continues to Accelerate
Econintersect: CoreLogic's Home Price Index (HPI) shows that home prices in the USA are up 6.9% year-over-year year-over-year (reported up 1.7% month-over-month). There is considerable backward revision in this index which makes monthly reporting problematic. CoreLogic HPI is used in the Federal Reserves's Flow of Funds to calculate the values of residential real estate.