Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list says the Nokia deal may mark the beginning of the end for Microsoft…….. and the last article desribes a possible topping of corporate earnings growth for this cycle.
- Nokia Deal Could Mark the Last Chapter for Microsoft (Vitaliy Katsenelson, Contrarian Edge) The article also appears at Institutional Investor (hat tip to Naked Capitalism), but the title is better at the author’s home blog.
- India’s Middle Class Hit Hard as Rupee Pushes Up Prices (Adi Narayan, Bloomberg)
- Failed Policy — The 401(k) Shrinks In A Growing Economy (David Cay Johnson, The National Memo) David Cay Johnson has contributed to Global Economic Intersection.
“But until voters tell the politicians to fix the pension system and strengthen Social Security, the oligarchs and their highly paid servants in both finance and the policy-formulation business will benefit while everyone else gets stuck with the burdens.”
- Saving Economics from the Economists – A Tribute to the Late Ronald Coase (The Institute for New Economic Thinking, 03 September 2013) See also GEI News.
- Unrealistic Expectations (John Mauldin, Thoughts from the Frontline) State pensions are severely underfunded using current assumptions.
But it turns out that current assumptions are probably way too optimistic which would greatly increase the underfunding gap. With the current assumption of 8% annual returns reduced to more realistic number, perhaps as low as 4%, the shortfall could be several times larger that previously estimated.
- Why the Australian Economy Is the Next Great Test for Macroeconomic Theory and Policy (Matthew Yglesias, Slate)
- A Plea for Caution From Russia (Vladimir Putin, The New York Times)
It is extremely dangerous to encourage people to see themselves as exceptional, whatever the motivation. There are big countries and small countries, rich and poor, those with long democratic traditions and those still finding their way to democracy. Their policies differ, too. We are all different, but when we ask for the Lord’s blessings, we must not forget that God created us equal.
- Russia gave UN 100-page report in July blaming Syrian rebels for Aleppo sarin attack (Matthew Schofield, McClatchy)
- New Deal, Old South (Taeku Lee, Foreign Affairs) Hat tip to Naked Capitalism. How FDR propped up Jim Crow, a book review of “Fear Itself” by Ira Katzenelson.
- The State of U.S. Business in Charts (The Wall Street Journal) Hat tip to Barry Ritholtz, The Big Picture.