Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list discusses the whitewash that passed as an invetsigation of the Great Financial Crisis …….. and the last article is about the marked decline in traditional family household and the rise on non-traditional households an peole living alone.
- Quelle Surprise! More Proof that the FCIC was a Whitewash, Thanks to Angelides and Born (Yves Smith, Naked Capitalism) Yves Smith has contributed to Global Economic Intersection. See also Columbia Journalism Review article and Insiders: FCIC Was Set Up to Fail (Yves Smith, GEI Opinion) There has never been a credible investigation of the fraud involved in the Great Financial Crisis.
- Confused senator attempts to publish column in Communist newspaper from distant past (Alex Pareene, Salon) Embarassing.
- Where the GOP’s Wonderland Is Real (James Oliphant, National Journal) GEI Managing Editor lives in North Carolina and finds there is not a lot of unrest about the Republicans on the streets, aside from Moral Monday protests in Raleigh and now in a few other communities. But there is a lot more concern about the unemployment rate – only six states are worse. But things are improving – two months ago only three states were worse.
- Economist Wins Genius Grant For Proving That Most Traders Are Idiots (Rob Wile, Business Insider) So much for the theories of rational expectations and maximized utility.
- The economist who predicted the financial crisis just sounded another alarm—it would be wise to listen this time (Manuels Hinds, Quartz) The economist heads a major central bank!
- Is Monetary Policy a Science? The Interaction of Theory and Practice Over the Last 50 Years (William R. White, Working Paper No. 155, Federal Reserve Bank of Dallas, Globalization and Monetary Policy Institute) Hat tip to Barry Ritholtz at The Big Picture.
- Assessing the Prospects of a Second Housing Bubble in the USA (Cullen Roche, Pragmatic Capitalism) Robert Shiller is worried.
- Jon Corzine Sees No Problem In How He Ran MF Global (Into Bankruptcy) (Matt Levine, Bloomberg) Hat tip to Roger Erickson.
- China’s FDI obstacle course (John Lee, Business Spectator)
- Lonelier and poorer: the incredibly depressing future for Americans (Matt Phillips, Quartz) From 1970 to 2012: Nonfamily households up 559%, men living alone up 120%, women living alone up 32% and married couples with children down 51%.
