Monday, September 1, 2014
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.
Why is Europe re-nationalizing the link between banks and governments? Why has the crisis failed to produce a Hamilton or an FDR?
Posted by David Dayen at 3:30 am |
It’s rare that we get to celebrate a victory here, especially in the mortgage and foreclosure arena, but we saw one this week. Down in Florida, where the anti-foreclosure activist movement really took root, one of the worst judges in the state lost her job, and many of the same players had a role in the defeat.
How much does it cost to manipulate an entire market? Not much. And it’s getting cheaper!
It was leaked on Tuesday by “people with knowledge of that matter,” according to the Wall Street Journal, that VC firm Kleiner Perkins Caufield & Byers had decided in May to plow up to $20 million into message-app maker Snapchat, for a tiny portion of ownership. An undisclosed investor also committed some funds. The deal, which apparently hasn’t closed yet, would give Snapchat a valuation of $10 billion.
I don’t know what became of the Gillian Tett who provided prescient coverage of the financial markets, and in particular the importance and danger of CDOs, from 2005 through 2008. But since she was promoted to assistant editor, the present incarnation of Gillian Tett bears perilous little resemblance to her pre-crisis version. Tett has increasingly used her hard-won brand equity to defend noxious causes, like austerity and special pleadings of the banking elite.
Today’s column, “Regulatory revenge risks scaring investors away,” is a vivid example of Tett’s professional devolution.
Yves here. This post, while informative, omits a critical piece of the calculus made by the West (or at least the US, in pushing Europe to fall into line) in its escalation of the conflict in Ukraine.
Is the “Consumer Confidence” index really a good proxy for the health of “the economy”?