The midterms, those missing airplanes, the Ukraine, and some notes on method. Also plants.
Tuesday, September 2, 2014
Before anyone asks, the Antidote will stay exactly where it is.
Topics: Guest Post
Posted by Lambert Strether at 7:46 am |
In the wake of the crisis, forward guidance has become a prominent tool of monetary policy. This column argues that central banks should go a step further, communicating to the public the internal policy debate that goes into monetary policy formation – especially regarding uncertainty. Since policy is determined contingent on a range of possible outcomes, forward guidance would become more effective by explicitly communicating how policy would respond along this uncertain path.
Granted, Obama gives good phone. But none of what he says will translate to policy.
Yield-hungry investors have been snapping up single family rental securitizations, with recent deals heavily oversubscribed. Buyers have been comforted by raging agency reviews that give the top tranches AAA grades, based on loss cushions that these scorekeepers treat as generous (a dissenting view comes from Standard & Poors, which stated that the “operational infancy” of these rental securitizations made them ineligible for a triple A rating).
However, investors appear to be overlooking a risk component that can deliver large-scale losses. We’ll call it trigger risk.
If there is not major coastal restoration soon, all of the city’s natural protection will be gone. Meanwhile, BP is racking up wins in court.
Yves here. The success of seed companies in extracting rents from farmers, particularly in countries where subsistence farming is widespread, is yet another example of how corporations like Monsanto abuse intellectual property laws and monopoly/oligopoly power. For the most part, governments have by their inaction backed this scheme. And that’s before you get to the fact that GMO crops, as a former NIH biomedical researcher stressed to me, is a massive experiment being conducted on the public at large without consent or controls.
Don Quijones reports on a ruling in Mexico that has, at least for the moment, thrown a spanner in the seed companies’ plans by barring field trials of GMO crops due to environmental risks.
Posted by Lambert Strether at 6:55 am |
Should society value work, and if so, how?
Burning Man is a society of the spectacle, a nouveaux Bohemian Grove, a gusher of cool. But does it live up to its ten principles?
Topics: Guest Post
Posted by Lambert Strether at 6:50 am |
Lambert here: I was glad to see this article, because while Ukraine, Syria and Iraq and ISIS and the Kurds, along with Israel and Gaza dominated the news, we also kept reading odd stories from Libya — like Egyptian and UAE warplanes bombing the airport in Tripoli.
To understand trade dynamics in the modern world we must appreciate the financial dimension, which modern economists do not.