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What We Read Today 02 April 2013

April 2nd, 2013
in econ_news

Econintersect: Click Read more >> below graphic to see today's list.


The top of today's reading list reveals just how extractive the Cyprus rescue was ........ and the last article says the euro is equivalent to a gold standard without the gold.

Follow up:

  • Pop Quiz: How Big Is the Bailout Of Cyprus? (Antonis Polemitus, Ledra Capital)  Hat tip to Naked Capitalism.  The Cyprus "bail-out" was actually a "bail-in" (term Econintersect first saw used by Edward Harrison of Credit Wrtitedowns).  Final bottom line was an extraction from Cyprus of several billion dollars rather than a provision of any money to the nation.  On a percapita or proportinal scale against GDP, the U.S. would have experienced an extraction somewhere between $4 trillion and $8 trillion depending on which numbers provided by  Antonis Polemitus are used.
  • KRUGMAN: David Stockman Is Just A Cranky Old Man (Joe Weisenthal, Business Insider)  If Joe Weisenthal has captured all that Krugman has to say in this "debate", the professor is disappointingly brief and dismissive.  See previous article.
  • Say It With Me: Correlation ≠ Causation (Invictus, The Big Picture)  Huge smackdown of two big names who violated some very basic rules of research, not the least of which was to test alternative hypotheses for what they observe to compare to the one they propose to be fact.  And this is the way we are supposed to make informed economic decisions?








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