Bill Woolsey responds to Anat Admati's call to increase capital requirements for banks: What are Banks?
John Cochrane believes she has made substantial progress in a short amount of time, for her cause.
"...what happens in the real world when central banks increase the rate of interest they pay on reserves?" (Nick Rowe) http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/08/if-new-money-is-always-paid-as-interest-on-old-money.html
Some consequentialist/utilitarians understand! http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/08/why-do-i-hate-driverless-cars.html
For a long time, the overnight rate has been 1 percent: http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/08/why-has-the-bank-of-canada-done-nothing-for-4-years.html
Lots of clarity from Nick, in this post: http://worthwhile.typepad.com/worthwhile_canadian_initi/2014/08/money-prices-and-coordination-failures.html
Ouch, that's quite a drop (Lars Christensen) http://marketmonetarist.com/2014/08/07/ecbs-failure-in-one-graph/
An eye opening post: http://marketmonetarist.com/2014/08/07/three-terrible-italian-gaps/
How long can they expect strong growth? (Scott Sumner) China on the Home Stretch
Governance is changing quicker than Westerners realize: Asian values
Markets could be reacting to the disconnect between unemployment data and GDP data. Why is the yield curve flattening
Arguments about the decline of the middle class don't come from utilitarianism: Scenes from a declining middle class
At least this monetary/fiscal approach would (seemingly) have a clear focus: Is New Zealand once again leading the way?
Brazil tries redistribution, but where is the wealth payoff? Brazil on the short end of a 7-1 score
Marcus agrees with Scott that Brazil defies easy definitions
Bonnie Carr responds to Scott Sumner's post re the yield curve. I agree with her assessment (and a graph from the Cleveland Fed) that real interest rates are still negative. http://dajeeps.wordpress.com/2014/08/09/slow-gdp-with-falling-headline-unemployment-rate-and-flattening-yield-curve/
Raghuram Rajan sees a very, very accommodative ECB. Wow, just wow. (Marcus Nunes ) http://thefaintofheart.wordpress.com/2014/08/06/when-your-brain-is-high-jacked/
Real threats are closer than they may appear...http://thefaintofheart.wordpress.com/2014/08/12/draghi-is-waiting-in-vain-as-known-from-the-play-for-godot/
David Glasner also has a response to Rajan's lack of monetary awareness: http://uneasymoney.com/2014/08/11/misunderstanding-totally-competitive-currency-devaluations/
Hourly participation is key. Benjamin Cole provides a Fed chart in this post, which shows how constrained it has actually been: http://thefaintofheart.wordpress.com/2014/08/11/the-european-central-bank-doesnt-listen-to-pimco-the-continent-fades-to-black-usa-next/
"Human capital is basically the dark matter of economics. We know it's there. In the end, it is probably the primary driver of everything that is important. And, we can't see it." (Kevin Erdmann) http://idiosyncraticwhisk.blogspot.com/2014/08/the-absurdity-of-blaming-capitalism-for_13.html
"Markets are probably not greatly undervalued, either." (Justin Irving) http://economicsophisms.com/2014/08/11/u-s-markets-are-not-overvalued/
Also of interest:
Large denomination bills is not just a U.S. mystery...(Timothy Taylor) http://conversableeconomist.blogspot.com/2014/08/who-is-holding-large-denomination-bills.html
This is a prime reason why many municipalities need to rethink their organization strategies in the near future. New jobs pay 23% less than those lost during the Great Recession (James Pethokoukis)
Thanks, Noah: http://noahpinionblog.blogspot.com/2014/08/yes-womens-labor-force-participation.html
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