Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list is PIMCO’s El-Erian commenting on what’s happening to bonds …….. and the last article has a great real time map of winds across the U.S..
- PIMCO’s El-Erian Asks: What’s Happening to Bonds and Why? (Joyce Hanson, ThinkAdvisor) ‘To say that bonds are under pressure would be an understatement,’ says PIMCO’s CEO in his latest viewpoint.
- Environmentally friendly cement is stronger than ordinary cement (Heloisa Nunes Bordallo, Niels Bohr Institute, University of Copenghagen) Cement production produces about 5% of total global CO2 emissions. A new composition utilizing ash originating from sugar cane waste not only reduces the polution but also increases the long-term strength of the concrete produced.
- Kouk versus Keen on Abbott’s economy (Houses and Holes, Macro Business) The acceleration of private debt growth in Australia has been negative for the past year and by Keen’s logic that will lead to recession if not reversed.
- AIG Myth: No Time to Avoid Windfall Bailout (Janet Tavakoli, The Financial Report)
As the TARP report later revealed, Goldman Sachs would have been in trouble in September 2008, and it was the chief beneficiary of the AIG bailout. The bailout was an unjustified windfall for counterparties that were the chief architects of AIG’s distress. Instead of buying AIG’s CDOs at 100 cents on the dollar, each deal should have had a thorough fraud audit and not only should further billions not have been paid, billions already paid out should have been clawed back. Instead of potential indictments, the Fed rewarded this behavior with unconditional bailouts.
- China intensifies internet crackdown (Jamil Anderlini, Financial Times) China has criminalized online dissent.
- Europe’s Countries Ranked by Debt Per Capita (Dorothy Gambrell, Bloomberg Businessweek) Hat tip to Sanjeev Kulkarni.
- Rajan, Onions and the Fed (David Keohane, FT Alphaville)
- World’s top climate scientists confess: Global warming is just QUARTER what we thought – and computers got the effects of greenhouse gases wrong (David Rose, Daily Mail) Hat tip to Russell Huntley. See discussions on climate change by Fabius Maximus, cited on previous reading lists, most recently #3 of Reading List articles (first three are all on climate change) from Tuesday 17 September 2013.
- Banks Really Are Different Five Years After the Financial Crisis (Daniel Gross, The Daily Beast) Still think our dysfunctional financial system hasn’t changed a bit since the day of the cataclysm five years ago? On debt, consolidation, and consumers, Daniel Gross explains why you’re wrong.
- Wind Map (Hint.FM) Hat tip to Russell Huntley.