What Amar Bhide is Missing
Bhide: Pick A 'Boring' Fed Chair because Supervision Is the Key and It Requires 'Dullness'
by William K. Black, New Economic Perspectives
This is my second column discussing
Federal Reserve (Fed) regulation in the context of the question of who
President Obama should appoint to be Ben Bernanke's successor. This
column focuses on the sudden discovery by economists (and purportedly, Obama) that the Fed Chair's most important function is to regulate. (If that sounds like common sense to you, (1) you are not an orthodox economist and (2) you do not understand the Fed's culture.)
What We Read Today 24 August 2013
Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list
reports on Australia's manditory retirment savings accounts and what it
would mean for the U.S. to implement them here ........ and the last
article is about the trial of Bo Xilai, a corruption case with a murder
sidebar in China covered by GEI News last year.
European Markets: Economic Revival?
Special Report from The Daily Reckoning
Europe Puts on Its Rally Cap
by Frank Holmes, Daily Reckoning
U.S. Global's portfolio manager Tim
Steinle is usually soft-spoken and mild mannered, so our ears perked up
when he recently belted out 'Europe is rocking!'
After a lengthy period of stagnant growth
and lackluster results, the gradual crescendo of improving economic
data that have been coming out of Europe lately certainly command
attention.
A Word from This Newsletter's Sponsor
The Next Industry to Crumble...
Imagine owning Amazon.com (up over an insane 4,000% since 2001) when
Internet sales rendered big-box retailers obsolete. Now an industry 99% of
us use daily is set to implode... And 3 established companies are perfectly
positioned to take advantage of this game-changing economic shift.
Google pulls 'boyfriend tracker' app in Brazil
In
Brazil, the boyfriend tracker app known as "Rastreador de Namorado" has
been removed from Google Play last week. Nearly 50,000 users downloaded
the app giving the spy access to email, texts and even the ability to
listen in.
It Rained Today - Blame It on Obamacare
Written by Steven Hansen
I am no lover of Obamacare but remain unconvinced a decline in the
average work week is underway due to that as the primary cause.
Read more >>
Two 200% Rallies Have Taken Place Off This Line
by Chris Kimble, Kimble Charting Solutions
The Power of the Pattern shared with
Premium and Metals members on July 15th that Silver had rallied 300% to
500% over the last 10-years when Silver hit this key support line and
it was oversold compared to Gold, in the chart below.
Automobile Still King of the American Commute
by Felix Richter, Statista.com
When it comes to their morning commute,
the vast majority of Americans make the trip by car. A massive 86.1 of
percent of people use an automobile to get to their place of work, a
figure that has changed very little over the course of the past five
years. Back in 2006, 86.7 percent made the journey by car. The
automobile is still truly the king of the American commute.
Margin Debt at Worrisome Levels
NYSE Margin Debt Rises Again But Is Slightly Off Its April High
by Doug Short, Advisor Perspectives/dshort.com
The New York Stock Exchange publishes
end-of-month data for margin debt on the NYXdata website, where we can
also find historical data back to 1959. Let's examine the numbers and
study the relationship between margin debt and the market, using the
S&P 500 as the surrogate for the latter.
Infographic of the Day: Interesting Facts on Lightning
You may
have admired it from afar or have had close encounters with it during a
seasonal storm, but you may not know the magnitude behind this
tremendous natural event. Lightning is one of nature's most awesome and
powerful forces. With ten million times the power of a household light
bulb, a single lightening bolt can rain down death and destruction to
anything in its path. Here are some interesting facts about lightning.
Thoughts on Macroeconomic Theory and Practice
by Dirk Ehnts, Econoblog101
I
have been working on stock-flow consistent models lately, starting with
Godley/Lavoie. I liked the book tremendously because the assumptions
that are needed for the model are not as brutal to reality as good old
neo-classical economics and the IS/LM model. In the Godley/Lavoie tpye
models, supply does not equal demand, and while (
realized)
demand can never exceed supply (spoiler: plus inventory) we call the
opposite situation a rise in inventory. Also, investment is financed by
loans, not savings. The next good choice is to use balance sheets and
double entry book-keeping. There are also
some choices which I found a little confusing, but that's why I tried to
come up with a model myself.
60% of Porn Websites Are Hosted in the United States
by Felix Richter, Statista.com
An analysis by MetaCert, a company that
specializes on internet safety, reveals that 60 percent of all websites
containing pornographic content are hosted in the United States. That
amounts to a staggering 428 million pages spread across 4.2 million
different domains.
Within the United States, California is home to most porn websites. 66
percent of pornographic sites hosted in the U.S. are located in the
state that is known for its flourishing porn industry.
