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 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.
- FINRA Bombshell: Biggest Wall Street Banks Are Trading Their Own Stock in Dark Pools (Pam Martens and Russ Martens, Wall Street on Parade) Hat tip to Yves Smith. This is a breaking story with more to follow.
- Arresting China’s slowdown: the search for sustainable growth (Yukon Huang, Financial Times) Huang suggests that China can do two things that will allow rebalancing to advance while maintaining GDP growth above 7%: (1) Remove restrictions on relocations into the largest cities where labor productivity is highest; and (2) Remove, or significantly reduce restrictions on foreign direct investment, especially in services. This puts his in conflict with Michael Pettis who has maintained that China must see GDP growth decline to around 3% a year to successfully complete rebalancing.
- Spy vs. Spy (James Surowiecki, The New Yorker) If imitation is the sincerest form of flattery then China is paying us the most sincere complements. America got its start in the industrial age in part by stealing ("illicitly appropriating") "mechanical and scientific innovations from Europe". (From historian Doron Ben-Atar book, "Trade Secrets".)
- New 'Gas Dwarf' Class of Alien Planets Revealed (Nola Taylor Redd, Space.com)
For astronomers, planets around other stars tend to come in two basic types: rocky worlds and gas giants. Now, scientists have identified a third class of exoplanets, called "gas dwarfs," that fall in between the others.
These gas-dwarf alien planets have thick atmospheres like their larger gas-giant cousins but never quite made it to the size of the planetary behemoths found in the Earth's the outer solar system, researchers said.
- Noah's Ark (Islamic Landmarks) Hat tip to Sig Silber. Petrified remains of The Ark in southeastern Turkey near the borders with Syria and Turkey.
Today there are 13 articles discussed 'behind the wall'.
The final four articles discuss the disappearing growth in number of U.S. households.
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