Economy
The Most Important Economic Stories of 2013—in 41 Graphs – Matthew O’Brien – The Atlantic
Secular stagnation and the bastardisation of Keynes | FT Alphaville
Markets
Twitter shares touch new high, sail past $52 | Reuters
Why Is Everybody Sitting on Huge Piles of Cash? – Bloomberg
BBC News – JP Morgan files for anonymous online payment system
927 People Own Half Of The Bitcoins – Business Insider
BBC News – Why do we value gold?
Nobel prize-winning economists take disagreement to whole new level | Business | The Guardian
“Shiller, whose wife is a psychologist, told SVT (just before 28 minutes into the interview): “I shouldn’t try to psychoanalyse Eugene Fama but I know that he is committed … to a libertarian philosophy, teaching at the University of Chicago where Milton Friedman once lived.
“It must affect your thinking somehow that they really believe in markets. I think that maybe he has a cognitive dissonance. His research shows that markets are not efficient. So what do you do if you are living in the University of Chicago? It’s like being a Catholic priest and then discovering that God doesn’t exist or something, you can’t deal with that, you’ve got to somehow rationalise it.””
Bubble deniers — now and then | LARS P. SYLL
BBC News – We are in a housing bubble, claims economics professor
China
China New Yuan Loans Higher Than Expected – WSJ.com
Hot money distorts China’s exports as speculators seek to cash in on yuan, rate reforms | Reuters
China bitcoin arbitrage ends as traders work around capital controls | Reuters
“The price gap between bitcoins trading in Chinese yuan and those sold for other currencies has evaporated in recent days, highlighting the porous nature of China’s capital controls.”
BBC News – Will China expel foreign journalists?
North America
Rising Job Openings Show U.S. Companies Poised to Hire: Economy – Bloomberg
Volcker Says He Didn’t Help Write Rule Bearing His Name – Bloomberg
Is Wall Street Now Too Big to Care? – Businessweek
““We saw how poorly the system was designed to let massive institutions fail without taking down the whole banking sector and economy,” says Edward Harrison, a banking and finance specialist at the economic consultancy Global Macro Advisors. “Now the banks are even bigger. Do we really believe this can’t happen again?””
Budget deal reached amid conservative opposition | Reuters
US congressional leaders unveil two-year budget deal | World news | theguardian.com
Europe
Spain’s Inditex profits increase as it expands clothing empire – FT.com
ekathimerini.com | Unemployment rises to near record of 27.4 percent in September
Greek exit from eurozone remains a possibility | Business | The Guardian
IMF’s Lagarde says euro crisis not solved, demands pre-emptive action from ECB – Telegraph
Europe’s economic crisis could be mutating again | Barry Eichengreen | Business | theguardian.com
“The commitment to preserving the integrity of the payments system must be unconditional. If the ECB concludes that panicked investors are threatening the integrity of the payments system by selling a member state’s bonds, then it should intervene, buying up those bonds on the secondary market, ESM agreement or not.
The ESM link is designed to reassure the German public that the ECB will not intervene indiscriminately. But it also creates uncertainty and delay, and prevents the ECB from acting as a true lender of last resort.”
Italy backs 8 percent minimum bail-in for ailing banks | Reuters
Europe edges toward plan to close failing banks | Reuters
Technology
Announcing the country’s largest continuous free public WiFi network | City of New York
Harlem will soon be home to the largest Wi-Fi network in the US | The Verge
This is Nokia’s Android phone | The Verge
AT&T CEO says smartphone subsidies must end, while T-Mobile sweetens iPhone deal
NSA uses Google cookies to pinpoint targets for hacking
NSA leaks blamed for Cisco’s falling sales overseas (updated) | Ars Technica
SVT avslöjar: USA hyllar FRA:s ryss-spionage – Nyheter | SVT.se
Sweden spied on Russia for the benefit of the US government
LG Makes The Google Play Edition G Pad Official, Available Now On Google Play For $350
Security Firm AVG Launches First Service To Block Mobile Location Tracking – Forbes
It was illegal for Amazon to shoot that drone video in the U.S., so it went abroad
Here’s Everywhere You Should Enable Two-Factor Authentication Right Now
Samsung Says The Galaxy Note 3 Has Sold 10,000,000 Units
The Pirate Bay resurfaces at a new domain following seizure | The Verge
PrivacyScan Shreds Your Mac’s Privacy Threats in a Few Clicks
Elsewhere
AFP: Pope Francis is Time person of the year
President Barack Obama takes selfie at Nelson Mandela’s memorial service | The Verge
Michelle Obama is not amused!
Uruguay OK’s first national market for legal pot