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Finance without Romance
Finance and Economics
Curated by John Muller
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Is Wall Street Really Robbing New York City’s Pension Funds?

Is Wall Street Really Robbing New York City’s Pension Funds? | Finance without Romance | Scoop.it
All too often, when researchers investigate pension-fund performance, they find that management fees outweigh any extra benefit the managers have generated.
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GE Bites Tax Bullet in Move to Help Share Buybacks

GE Bites Tax Bullet in Move to Help Share Buybacks | Finance without Romance | Scoop.it
The company’s decision to repatriate $36 billion in foreign cash brings a large tax bill and raises concerns about whether multinationals’ efforts to minimize taxes are taking too heavy a toll back home.
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Torrent of Cash Exits Eurozone

Torrent of Cash Exits Eurozone | Finance without Romance | Scoop.it
A major shift in the flow of money around the globe is driving down the euro at a rapid clip, boosting the U.S. dollar and leaving smaller countries to struggle with the consequence of an extraordinary flood.
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Demographic changes and structural deflation | Jérémie Cohen-Setton at Bruegel.org

Demographic changes and structural deflation | Jérémie Cohen-Setton at Bruegel.org | Finance without Romance | Scoop.it
What’s at stake: A view has appeared arguing that the low-inflation environment experienced by advanced economies may be structural, r...
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Does Finance Do Any Good for Society?

Does Finance Do Any Good for Society? | Finance without Romance | Scoop.it
One economist argues that a fair and competitive banking sector can exist—but only if dismissive academics and a skeptical public hear each other out.
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Michael Pettis explains the euro crisis (and a lot of other things, too) | FT Alphaville

Michael Pettis explains the euro crisis (and a lot of other things, too) | FT Alphaville | Finance without Romance | Scoop.it
This is literally the best analysis of the euro area's problems we've ever read. You should take the time to closely read the whole thing yourself. We'll wait.

Now that you're back, we thought we could add some value by highlighting and expanding on what we believe to be Pettis's most important insights.
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FCA to target peer-to-peer marketing - FT.com

FCA to target peer-to-peer marketing - FT.com | Finance without Romance | Scoop.it
UK financial regulators are set to clamp down on the marketing of peer-to-peer lending platforms amid concerns that some are mis-selling their products as “risk-free” savings accounts. The Financial Conduct Authority is now scrutinising the clarity
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Global Shadow Banking Monitoring Report 2014 - Financial Stability Board

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What's the most fiscally responsible country in the developed world? | Making Sen$e | PBS NewsHour

What's the most fiscally responsible country in the developed world? | Making Sen$e | PBS NewsHour | Finance without Romance | Scoop.it
Countries like Germany have gotten away with lecturing others about their fiscal prudence. But maybe the Germans should take a look around them, argues economist Larry Kotlikoff, to see which European Union country is doing it better.
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Why did the Swiss break the peg of the franc?

Why did the Swiss break the peg of the franc? | Finance without Romance | Scoop.it
Paul Krugman writes: Two things to bear in mind. First, having in effect thrown away its credibility – in today’s world, the crucial credibility central banks need involves, not willingness to take away the punch bowl, but willingness to keep […]
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The Future of Financial Reform: Conceiving the Financial System of the 21st Century

The Future of Financial Reform: Conceiving the Financial System of the 21st Century | Finance without Romance | Scoop.it
Mark Carney, Governor of the Bank of England (BoE) and Chairman of the Financial Stability Board (FSB), may well be the man of the hour. When he gives a speech entitled “The Future of Financial
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Musings on 25-54 Employment-to-Population Rates and the Macroeconomy: Daily Focus - Washington Center for Equitable Growth

Musings on 25-54 Employment-to-Population Rates and the Macroeconomy: Daily Focus - Washington Center for Equitable Growth | Finance without Romance | Scoop.it
(1) If the US economy were operating at its productive potential, the share of 25 to 54-year-olds who are employed ought to be what it was at the start of 2000. Back then there were few visible pressures leading to rising inflation in the economy. Does anybody disagree with that? (2) Right now, 25 to …
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Greek default necessary but Grexit is not - FT.com

Greek default necessary but Grexit is not - FT.com | Finance without Romance | Scoop.it
Until last week, discussions with Greece did not go well. That changed when the circus of international financial diplomacy moved to Washington for the spring meetings of the International Monetary Fund and the World Bank. Then it became worse. My
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DRAFT For “Rethinking Macroeconomics” Conference Fiscal Policy Panel - Washington Center for Equitable Growth

DRAFT For “Rethinking Macroeconomics” Conference Fiscal Policy Panel - Washington Center for Equitable Growth | Finance without Romance | Scoop.it
Comments, critiques, and suggestions very welcome… Introduction I take my assignment to discuss “fiscal policy in the medium term” to mean that I should assume a régime in which the economy is not at the zero lower bound on safe nominal interest rates. Thus I can assume that monetary policy can adequately handle all of …
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Testing The Rent Hypothesis With Evan Soltas

Testing The Rent Hypothesis With Evan Soltas | Finance without Romance | Scoop.it
Evan Soltas has an interesting little post (be warned! "interesting" here is being used in the sense that an economics geek might use it) here discussing the "rent hypothesis." That's the idea that rents are becoming an ever greater part of the economy and by golly gosh we really ought [...]
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When do we decide that Europe must restructure much of its debt?

When do we decide that Europe must restructure much of its debt? | Finance without Romance | Scoop.it
It is hard to watch the Greek drama unfold without a sense of foreboding. If it is possible for the Greek economy partially to revive in spite of its tremendous debt burden, with a lot of hard work...
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Storing Paco (negative nominal interest rates)

Storing Paco (negative nominal interest rates) | Finance without Romance | Scoop.it
Paco is a dog who lives in Norman, Oklahoma.  Recently I learned it costs $12 to store him for a day, with webcam services attached.  In this sense there is a negative nominal interest rate on Paco. You might store […]
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Private money vs totally-public money, plus some history | FT Alphaville

Let's close the week off with little bit of "history is just repeating itself" education for both the champions of private cryptocurrency, unaware of the private origins of evil fiat currency, and the "take away the banks' power to create money!" Positive Money campaign in light of the recent deluge of historically myopic press releases in our inbox.

As the BoE's historical timeline helpfully points out, the BoE came into being when a private syndicate decided to risk all in 1688 by providing the UK government with funding when no-one else was prepared to do so. This ultimately proved to be a very good decision. It turns out lending money to government on terms you can enforce and control can be very profitable, especially if it leads to wise public investments that improve the wealth of the nation and make it easier to collect taxes as a result.
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FCA rebukes equity crowdfunding companies - FT.com

FCA rebukes equity crowdfunding companies - FT.com | Finance without Romance | Scoop.it
The City regulator is cracking down on equity crowdfunding after finding that most companies in the fast-growing sector were misleading investors about the risks. The Financial Conduct Authority found that crowdfunders were giving a “misleading or
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How to Leave a Mark

How to Leave a Mark | Finance without Romance | Scoop.it
Impact investing is perhaps the most promising new development tool. Young people just getting started and older business gurus alike should consider it.
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Biblical economics leave everybody blind and toothless - Interviewed by Johanna Jaufer

Biblical economics leave everybody blind and toothless - Interviewed by Johanna Jaufer | Finance without Romance | Scoop.it
Am Sonntag wählt Griechenland ein neues Parlament. In den Umfragen liegt das Linksbündnis SYRIZA an erster Stelle. Die Partei rund um Alexis Tsipras wirbt mit der Ankündigung, sich um einen Schulde...
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Gavyn Davies on the Swiss central bank and why it folded

Gavyn Davies on the Swiss central bank and why it folded | Finance without Romance | Scoop.it
The SNB balance sheet at the end of December was about 85 per cent of GDP, mostly in foreign currencies, and we do not know whether this has increased markedly during the bout of euro weakness in January. The SNB’s […]
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Withering regulations will make for shrivelled banks - FT.com

Withering regulations will make for shrivelled banks - FT.com | Finance without Romance | Scoop.it
Bankers are not stupid. For all the controversy surrounding the financial sector, everyone can agree on that. For decades banks have shaped their businesses to maximise profits, given the regulatory rules that exist at the time. And when the rules
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Vision Statement: The Birth of Modern Commercial Credit - HBR

Vision Statement: The Birth of Modern Commercial Credit - HBR | Finance without Romance | Scoop.it
An early example of work and life intersecting.
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