Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list has a facetious observation about the implication of the laws regarding blood testing for drugs …….. and the last article is about the developing monetary and fiscal plans in China.
- Why Not Drug Test U.S. Farmers Who Receive Federal Aid? (Steven Strauss, EconoMonitor) H.L. Mencken observed “If a politician found he had cannibals among his constituents, he would promise them missionaries for dinner.”
- The Return on College, Around the World (Catherine Rampell, The New York Times)
- Who Goes to Cash Shows Extent Bonds Will Become Bear Market (Mary Childs and Daniel Kruger, Bloomberg)
- ARE MORE JOBS THE ANSWER? The “BIG” Bait and Switch (L.Randall Wray, Economonitor) L.Randall Wray has contributed to Global Economic Intersection.
Investors Pull Back From China Assets (Daniel Inman, The Wall Street Journal) Is this worse than 2008? See graph at the right.Also, note that the second half of 2012 saw the most intense investment inflows to China since The Great Financial Crisis of 2008.
- Warren Mosler, a Deficit Lover With a Following (Annie Lowrey, The New York Times) The reporter provides a very superficial amount of monetary theory and as a result produces an article which does little to inform the uninformed. If one gets all the way to the end perhaps the closing quote from Mosler would provoke questions:
“Economics is about the allocation of scarce resources. If there’s a food shortage, you have a real problem in divvying up the food. Right now, we have a dollar shortage because of mistaken notions about how the monetary system works. How does that make any sense?”
But the uninformed may well be so confused by the end that the inferences of the quote will be lost. Warren Mosler and Mark Thoma, who is also quoted in the article, have contributed to Global Economic Intersection.
Note: Roger Erickson points out that Annie Lowrey also published a useful MMT reading list at The New York Times.
- The Next Phase of the Arab Spring (Stratfor) Strafor contributes one or more articles weekly to Global Economic Intersection.
- Introducing the Winklevoss Bitcoin Trust (Tracy Alloway, FTAlphaville) What’s that about a fool and his money? See following article as well as GEI News coverage of recent volatility.
- Is there a Future for the First World Currency? (Robert C. Lawton, Employee Benefit Advisor) See article above as well as GEI News coverage of recent volatility.
- Likonomics: what’s not to like (The Economist) Looks like Michael Pettis may win his bet sooner rather than later.
