"Kenneth Rogoff Is Back With Another Sneaky Article" @ramanan takes Rogoff apart. http://t.co/DWRIOaKxMZ
10 minutes ago
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For Every Seller There’s a Buyer
Whenever you see “money going into/out of XYZ”, your bullshit detector should go off — it usually indicates a lack of understanding of markets. Day-to-day, bonds and stocks and currencies TRADE. That is why many are on exchanges — the word is not an accident, as securities CHANGE owners. Now, foreigners can buy (be going [...]
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Indian Economy – Beware the Nones and Ides of March, or Thereabouts
The month of March has been very eventful for India. Results of the elections of the five Indian states were declared on March 6. These were then followed by two national level budgets – the railway budget (a British legacy) on March 14 and the union budget on March 16. Then came the leaked report [...]
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Eurozone Crisis: In the Eye of the Storm
The Eurozone crisis has been in retreat since the introduction of the European Central Bank’s (ECB) three-year long-term refinancing operations (LTROs) in late December 2011. At the European Council Meeting in early March, journalists who cover the crisis fretted that boredom loomed. The current lull does not indicate that the Eurozone is in the clear, [...]
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Tim Harford on UK Budget
In an opinion piece in yesterday’s FT, Tim Harford shows what his simple UK budget ideas of “short-term stimulus; long-term fiscal consolidation; and reform aiming at a sane system of taxation,” means in practice. Hear Hear! But sadly, we remain a million miles away from such sensible ideas. Too much bureaucracy, lobbying, vested interest. For [...]
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RGE’s Arnab Das CNBC Video and Report: Europe Deleveraging to Cause Recession?
CNBC — Europe will see a recession this year and Portugal is likely to follow in Greece’s footsteps as the country struggles with high borrowing costs, according to the Managing Director of Market Research and Strategy at Roubini Global Economics. “We’re going to get a recession this year but it will be milder than it [...]
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Bo’s Fall and the Macau Web
Bo Xilai, the former Party secretary of the municipality of Chongqing, was removed from his post on March 15 after a flurry of rumors dominated the lianghui (two-sessions) of the National People’s Congress (NPC) and Chinese People’s Political Consultative Conference (CPPCC) about Bo’s demise. Rumors swirled in the opening days of the two sessions after the South China [...]
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RGE’s Parul Walia and Mikko Forss Discuss Monetary Policy Surprises in Norway and UK
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Why Greece Could Be Better Off Outside the EZ
Last week I wrote about the difficulty of doing business in Greece, and the role that the government plays in perpetuating the bureaucracy. Does all of this mean that Greece is doomed? Not necessarily. Returning to the drachma would be ignominious for Greece, but it need not decimate the country and may be the only [...]
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Today’s Trivia Question: Why Was There No NFP Release Today?
Question: What are the rules for determining the release date of the NFP and other monthly statistics? Usually it is the first Friday of the month, which sometimes it can be on the 1st or 2nd of the month (e.g. 2-Dec-11, 1-Apr-2011), but other times it is delayed a week to the 2nd Friday (8-Jul-11, [...]
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Senegal’s Elections: ‘Hare’ Trigger for Wider Political Turbulence in West Africa?
Despite initial expectations that incumbent President Abdoulaye Wade would remain firmly in place for a third term after Senegal’s February 26 elections, Wade was unable to garner the 50% of votes required to avoid a run-off. With just 34.8%, the president has accepted that the high-stakes race will now go to a second round. The [...]
