August 27th, 2013
Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list says that until austerity is gone from Europe "all signs of recovery will prove illusory" ........ and the last article defines who actually owns the national debt.
- End Austerity Now (Mark Blyth, Project Syndicate) "Spending cuts will do nothing to stabilize the balance sheets of core-country banks that are over-exposed to peripheral countries’ sovereign debt. Until Europe rejects austerity in favor of a growth-oriented approach, all signs of recovery will prove illusory."
- 30 year fixed rate mortgages are awesome (Noah Smith, Noahpinion)
- We May Be Witnessing The Beginning Of A Rare Global Economic Phenomenon (Sam Ro, Business Insider) Several things are aligning positively this month.
- The financial unraveling of southeast Asia (Tyler Cowen, Marginal Revolution)
- Wall Street Swaps Claim Detroit Cash Over Retirees: Muni Credit (Darrell Preston and Steven Church, Bloomberg) Banks may get 75%, pensioners may get less than 20%. Don't talk about the rule of law: both have contracts and pensioners are guaranteed by state law. Why should the haircuts be so unequal?
- Second Cities: Keeping Pace with a Booming New York (U.S. Census Bureau) Hat tip to The Big Picture.
- India’s Richest Man Loses $5.6 Billion as Rupee Stumbles (Netty Ismail, Bloomberg) Mukesh Ambani has seen 24% of his wealth evaporate since May 1.
- U.N. chief dispatches top official to Syria, seeks access to site of alleged chemical attack (Loveday Morris and Colum Lynch, The Washington Post) And who will send troops? Not France. See GEI News by Hilary Barnes: France has cut military to the bone.
- Welcome to the Age of Denial (Adam Frank, The New York Times) Don't use data if it disproves beliefs.
- Summer 2013: Who Really Owns the U.S. National Debt? (Craig Eyermann, Advisor Perspectives dshort.com)