Another View: Private equity investments pay off for CalPERS Henry Jones, Sacramento Bee. Stale talking points comprehensively debunked by Yves back in September.
Nations work best when they work together, in Europe and beyond George Soros, FT
As Expected Tim Duy’s Fed Watch
What Should the Fed Do and Have Done? Larry Summers. “It is an anachronism to believe that zero rates are only appropriate in pathological economies.” I think it’s fascinating we even have a category called “pathological economies.”
Text of the Consolidated Appropriations Act, 2016 (PDF) House of Representatives. Very alert readers found an Easter egg, writing “IMF quota, governance change to increase Chinese ownership of IMF buried in the omnibus”:
It’s not even included in the section by section. See pp 1459-1465. I believe this is the key language, though I’m no IMF expert:
20 SEC. 71. ACCEPTANCE OF AMENDMENTS TO THE ARTI-21 CLES OF AGREEMENT OF THE FUND. 22
The United States Governor of the Fund may accept the amendments to the Articles of Agreement of the 24 Fund as proposed in resolution 66–2 of the Board of Governors of the Fund.
Congress snuck a surveillance bill into the federal budget last night The Verge. Another Easter egg: Working Thread, Cybersecurity Act emptywheel
The Paul Ryan Compromise Salon. Who knows what else is in there…
I For One Welcome Our New Monopolist Overlords
Remaking Dow and DuPont for the Activist Shareholders NYT. “in today’s markets, financial engineering prevails and only activist shareholders matter.”
Homan Square Detainees Testify To Abuse At County Hearing Chicagoist. It was good to see Chuy all over this. Oh, wait…
Obama: The Fairy-Tale President? Foreign Policy in Focus
US-backed Syrian rebel group on verge of collapse Stars and Stripes (YY). Oh? Which one?
Anxious parents send children back to L.A. schools as safety concerns linger Los Angeles Times. All it takes is one hoax email. The terrorists really have won, haven’t they?
LO: OM FLYKTINGAR INTEGRERAS KAN SVERIGE FÅ EN SUPEREKONOMI Dagens Industrie. Reader AR provides a translation and commentary:
In an interview on Wednesday, the head of Sweden’s main trade union, LO, stated that “if we can manage to integrate the refugees properly, Sweden can have a super-economy within a few years time with a growth of 4-5%. It is a considerable investment but in a few years time the majority of the 170.000 (refugees arriving in 2015) should have found work.
Background: Unemployment among people born in Sweden is 3%, which is full employment. Meanwhile growth is currently 3,5% and projected to be 3% in the coming years.
Exactly as the Somali refugees helped rejuvenate downtown Lewiston, Maine.
Spain’s Ohio Reveals Anxious Nation as Old Certainties Fade Bloomberg. Turns out “old certainties” are a thirty-year two-party duopoly….
Why are Chinese fishermen destroying coral reefs in the South China Sea? BBC. On the one hand, I’m sad for the coral. On the other, there seems to be a subtext…
Imperial Collapse Watch
ISIS Gives Us No Choice but to Consider Limits on Speech Eric Posner, Slate
Africa: The Next Defense Market Opportunity? Defense Industry
Ex-MIT dean and son to serve prison time for hedge fund scam AP. Can’t these managerial types content themselves with paying themselves exorbitant salaries and screwing over the adjuncts? O tempora! O mores!
America’s permanent, ubiquitous tent-cities Boing Boing
It’s a Trap: Emperor Palpatine’s Poison Pill (PDF) Zachary Feinstein (PP).
Avoiding the Trap of Shallow Narratives Another Word for It
Antidote du jour (@planetepics):