Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list has an article discussing why Vanguard has not offered a junk bond ETF …….. and the last article is about whether or not the Fed actually has a profit from holding Treasury debt.
- Rivals in, but Vanguard won’t offer junk-bond ETFs (Jason Kephart, Investment News)
- Federal Court Affirms Sweeping “Bully Pulpit” Government Right to Lie: Treasury Can’t Be Sued (Clifford Johnson, OpEd News) Hat tip to Roger Erickson.
- AIA: “Strong Surge for Architecture Billings Index” (Bill McBride, Calculated Risk)
- The Start of Another Financial Crisis (Melanie Rodier, Wall Street & Technology) More weapons of financial destruction. See also Global Economic Intersection contributor Michael Sankowski explain what is going on in a Huff Post Live video.
- Should Recent Extreme Weather Be Tied to Climate Change? (Tiffany Stecker and ClimateWire, Scientific American)
- Warning! Wikipedia Will Make Your Financial IQ Drop (Janet Travakoli, The Huffington Post) An expert on risk and fraud exposures with financial derivatives finds her two decades of work are not mentioned in Wikipedia. Econintersect has found that it must be selective in use of Wikipedia references because of missing or outdated information. Sometimes free is overpriced. Hat tip to Roger Erickson.
- Increase In Euro-Zone Consumer Confidence Shows Promise For Economic Recovery (Justin Lloyd-Miller, Wall St. Cheat Sheet)
- How minimal can PPACA-required coverage be? (Allison Bell, Life Health Pro)
- Was Keynes a Keynsian or a Lernerian? (David Colander, Journal of Economic Literature) Hat tip to Roger Erickson.
- The fallacy of Fed ‘profits’ (and ‘losses’) (Pedro de Costa, Reuters) Article quotes former Fed governor Bob Eisenbeis who says the Fed is a part of the government. Econintersect differs and thinks the Fed is more like a closely regulated government contractor. Hat tip to Warren Mosler.