Monthly Archives: November 2010

Links 11/27/10

Dinosaur demise allowed mammals to ‘go nuts’ BBC Take a sensible approach to air security CNN. Debunks popular perceptions of how much damage the shoe and underwear bombers could have done. Why is homeland security enforcing the nation against music downloads? Michael Perelman, EconoSpeak China Warns U.S. as Korea Tensions Rise Wall Street Journal Bid […]

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More on the Damaging Implications of Corporate Cash-Hoarding

John Authers of the Financial Times provides an update on corporate cash-hoarding. In brief, it’s getting worse due to probably-warranted executive nervousness about business prospects. As Authers puts it: Corporate chieftains the world over have lots of cash, and want to hold on to it. It is a critical symptom of a new Age of […]

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Guest Post: Will the Irish Crisis Spread to Italy?

By Paolo Manasse, Professor of Macroeconomics and International Economic Policy at the University of Bologna and Giulio Trigilia, Master’s student at Collegio Carlo Alberto. Cross posted from VoxEU. Is Italy the next European country to go? This column argues that the jury is still out, although the grace period will not extend beyond three years. […]

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Systemic coupling round-up

Time to count up the systemic implications of the Irish crisis, following up on some of today’s links and other news. First, the usual contagion to Portugal and Spain is now in full swing, propelled by another barrage of bumbling Euroannouncements: Weber announced that if necessary, the EU would increase the ceiling of the EFSF […]

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Links 11/26/10

Passive smoking ‘kills 600,000′ worldwide BBC In a Land of the Aging, Children Counter Alzheimer’s New York Times Israel police under fire for abusing east Jerusalem children Agence France-Press Correlation Does Not Equal KochNation Marcy Wheeler, FireDogLake Next Up: a “Flat Tax” for the Rich Michael Hudson, Counterpunch Australia’s Senate Passes Telstra Bill Wall Street […]

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Were US Auditors Told to Fudge Opinions of TBTF Banks?

Francine McKenna is shocked that investigations in the UK have revealed that major auditors were told to make wobbly banks look healthier than they were. Specifically, they issue “going concern” opinions because they were told the banks would be backstopped. One can only assume the accountants were brought in the loop with the aim of […]

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China Wants Concessions for Mercantilism in Return for Rare Earths

A story in Reuters signals that China is willing to soften its stance on rare earths. But of course, it has no reason to offer such a concession for free. The article indicates that China wants its trade partners to back off on their pressure on China to curb its abuses of international trade rules. […]

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Links Thanksgiving Day

What Leading Progressives Are Thankful For New Deal 2.0 Let Loose the Coyotes? Chicago Embraces Rat-Hunting Predators Discover German vandals target Street View opt-out homes BBC Mistakes Still Prevalent in Hospital Care, Study Finds New York Times (hat tip reader Fred A) WikiLeaks release to feature corruption among world leaders, governments Raw Story Classified Papers […]

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50 State Attorney General Mortgage Probe Rejects Idea of Global Settlement

Bloomberg provided a useful update on the 50 state attorney generals’ investigation into mortgage abuses. One key development is that the AGs are treating investors as parties whose interests need to be considered. This appears to be at odds with the approach taken by Federal regulators, who are devising and implementing exams of various sorts […]

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Town May Seize Factory to Prevent Dismantling by Vengeful Owner

This story illustrates how far some companies are willing to go to preserve their bottom lines and assert their right to operate in an unfettered manner, even when that includes breaking the law and violating contracts. Huffington Post, via its daily political newsletter Huffington Post Hill, does some additional reporting on the very peculiar case […]

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Guest Post: The Question Isn’t Whether the Fed Should Be Stripped of Its Mandate to Maximize Employment … The Question Is Whether the Fed Has Too Much Power

→ Washington’s Blog The Fed says that unemployment will remain high for years. Some Republican congressmen are trying to take away the goal of ensuring full employment from the Fed. See this and this. Conservatives argue that the relationship between inflation and unemployment – as represented in the Phillips Curve – is false, and therefore […]

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Links 11/24/10

Have we found the universe that existed before the Big Bang? io9 (hat tip reader John M) Rhino left with no place to hide Los Angeles Times Test tells age from blood drops BBC Libertarians Behind TSA Junk Touching Outrage Orgy Also Masterminded “Topless Tuesdays” Moe Tkacik (hat tip Richard Smith). This is a bit […]

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“Waiting for Godot”, or “Endgame”?

No formal announcement yet, but some presumably well-sourced rumours about the size of the Irish bailout (EUR 85Bn), and the rate (7%, via the redoubtable Twitterer on all matters Irish @LorcanRK). While we await the budget statement, there are reasons to suspect, or hope, that the bailout, like Godot, will never come, because it’s failing […]

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