News: 2014-02-22

Emerging Markets

Mexico: where’s the growth gone? | beyondbrics

EconoMonitor : The Kapali Carsi – Forever blowing (Turkish housing) bubbles

Tesco in talks to scale down in Turkey as sales slump – Telegraph

Argentina’s seizure of YPF cost Repsol £1bn – Telegraph

La economía creció 4,9% en 2013 – Ambito.com

According to official statistics, Argentina grew 4.9% last year. The government is calling for 6.2% this year. Both figures are wildly optimistic.

BBC News – Ukraine was in economic crisis long before the protests

Ukraine Lawmakers Vote to Free Jailed Ex-Prime Minister Tymoshenko

Venezuela tells CNN journalists to ‘get out’ – CNN.com

Can the World Avoid Another Emerging-Market Crisis? – Caixin Media

 

Federal Reserve

Fed’s 2008 Transcripts Show Struggle to Grasp Magnitude of Crisis – WSJ.com

Federal Reserve 2008: A Timeline of Fed Actions and Financial Crisis Events – Real Time Economics – WSJ

Fed 2008 Transcripts Q4: Whatever It Takes – Real Time Economics – WSJ

Fed 2008 Transcripts Q3: The Panic Erupts – Real Time Economics – WSJ

Fed 2008 Transcripts Q2: Spring Lull – Real Time Economics – WSJ

Fed 2008 Transcripts Q1: Winter Wake-Up Call – Real Time Economics – WSJ

And yes, the Fed was really, really concerned about Treasury fails in 2008 | FT Alphaville

Plosser didn’t like the idea of the Fed issuing its own debt | FT Alphaville

Fed knew about Libor rigging in 2008 – Telegraph

The 2008 FOMC Laugh Track: Gallows Humor at the Federal Reserve – Real Time Economics – WSJ

Fed’s Rosengren Pressed for Early, Aggressive Crisis Response-2008 Transcripts – Real Time Economics – WSJ

Fed’s Lacker: Fed Emergency Actions Made Crisis Worse – Real Time Economics – WSJ

 

North America

Existing home sales slump to 18-month low

Rail Traffic is Starting to Soften | PRAGMATIC CAPITALISM

Inflation hit 1.5 per cent in January: Statistics Canada | Toronto Star

Canada’s retail sales plunge most in a year, bringing recovery to ‘screeching halt’ | Financial Post

Wal-Mart Poised for Henry Ford Moment Amid Minimum Wage Debate

“A boost in the minimum wage to $10.10 would add $200 million — or less than 1 percent — to Wal-Mart’s annual labor bill, the University of California Berkeley Center for Labor Research and Education estimates. If Wal-Mart passed along the estimated $200 million in extra labor cost to consumers, it would equal about a penny per $16 item, said Ken Jacobs, the Labor Center’s chairman. Meanwhile, the rise may boost purchases among the chain’s core shoppers, many of whom could see their earnings climb, he said.”

The Commuting Penalty of Being Poor and Black in Chicago – Emily Badger – The Atlantic Cities

 

Europe

Moody’s raises Spain credit rating – Telegraph

Tesco under pressure to reduce its profit margins | Business | The Guardian

 

Technology

Fitbit stops selling Force activity tracker, issues voluntary recall — Tech News and Analysis

Google said to be planning private Wi-Fi login app for Android, iOS | The Verge

You won’t have broadband competition without regulation | Felix Salmon

Why Hollywood Hacking Is So Hilariously Horrible

The secret financial heavyweights on Twitter – The Infront Blog

Amazon Gets Its TV Box Ready, Again | Re/code

For Overstock CEO, Bitcoin Isn’t Just A Publicity Stunt – Forbes

Answering Work E-Mail At Night Doesn’t Make You Better At Your Job – At Work – WSJ

Oral B Announces The World’s First Bluetooth-Connected Toothbrush – Nope, Not Kidding

This is ridiculous.

Crypto weaknesses in WhatsApp “the kind of stuff the NSA would love” | Ars Technica

WhatsApp, Texting Apps Will Drain $33 Billion From Telecoms This Year

Bye Bye, WhatsApp: Germans Switch To Threema For Privacy Reasons | TechCrunch

WhatsApp ‘turned down Google in favour of Facebook’ despite higher offer – Independent.ie

Roku Said to Be Weighing Initial Public Offering in U.S. in 2014

 

Markets

U.S. natgas futures end week up 18 pct after hitting 5-year high

 

History

Historical Echoes: Thomas Jefferson Slept Here on Maiden Lane/The Compromise of 1790 – Liberty Street Economics

Matt Stoller: ‘Free Trade’ Pacts Were Always About Weakening Nation-States to Promote Rule by Multinationals | naked capitalism

Why Rational People Can’t Succeed as Economic Forecasters – Justin Fox – Harvard Business Review

The Ten Most Impressive Abandoned Military Bases In The World

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