News: 2014-01-21

North America

Fed ‘needs to do more’ to stimulate economy – FT.com

“Mr Kocherlakota said the Fed should improve its communication about how it will behave once the unemployment rate falls below its existing threshold of 6.5 per cent. He said the pledge made in December of low rates “well past” that point is not sufficient. “The problem with what’s in the statement right now is its going to become increasingly less useful once we fall below 6.5 per cent,” said Mr Kocherlakota. Rather than lower the 6.5 per cent threshold, he said the Fed could bring in new guidance about how it will behave until unemployment hits 5.5 per cent, perhaps with a tighter get out clause on inflation.”

The Week That Was – Tim Duy’s Fed Watch

Econbrowser: Guest Contribution: “Understanding the Potential Effects of QE on Gross Financial Flows to Developing Countries”

THE RETAIL DEATH RATTLE « The Burning Platform

Martin Luther King Jr.: Leader of Millions in Nonviolent Drive for Racial Justice

Obituary from 1968

 

Asia

Why Japan’s debt hasn’t wreaked havoc yet | vox

Do you buy any of this stuff? Seriously? It makes no sense to me.

China’s Working Population Fell Again in 2013 – Real Time Economics – WSJ

China’s Central Bank Providing Short-Term Cash to Lenders – WSJ.com

BBC News – China’s no-win situation

CNOOC eyes 4.3 pct rise in 2014 output, excluding Nexen | Reuters

China’s 2013 New Home Sales Hit $1.1 Trillion, Record High – Bloomberg

Beijing Lays Siege to China’s Steel Output – China Real Time Report – WSJ

China’s Property Market Fueled Growth in 2013 – China Real Time Report – WSJ

China’s 2013 oil demand up 1.6 pct, slowest rise in 5 years

China’s Economy Slows on Investment Spending – China Real Time Report – WSJ

What China’s Electricity Usage Said About GDP Growth in 2013 – China Real Time Report – WSJ

 

Elsewhere

Why Empathy Is Your Most Important Skill (and How to Practice It)

 

Markets

Bitcoin is not a currency, it’s a commodity, says Finland’s central bank | Financial Post

Bitcoin: miracle or madness? | Gavyn Davies

UBS to outsource fixed income trading platform – FT.com

Deutsche Bank posts shock 1.2bn euro loss for fourth quarter – Telegraph

Irish Bonds Lead Rally in Euro-Area Debt After Moody’s Upgrade – Bloomberg

 

Technology

FBI snatches Google Glass off the face of innocent AMC movie-goer

The worst password of all is no longer ‘password’ according to hacked accounts chart | 9to5Mac

 

Economics

IMF warns on threat of income inequality – FT.com

In U.S., 67% Dissatisfied With Income, Wealth Distribution

‘Peak demand’ oil theory fails scrutiny test – FT.com

Argentina Sees Agreement on $10 Billion Debt With Paris Club – Bloomberg

 

Europe

Ukip more popular than the Tories, shows poll – FT.com

Nigel Farage: Working mothers are ‘worth less’ to their employers in the City – Business News – Business – The Independent

Low Interest Rates Fueling Real Estate Price Increases in Austria – Real Time Economics – WSJ

ekathimerini.com | Greek archaeologists reject call for private firms to manage ancient sites

Number of homes for sale dips to lowest level since 2007 – Telegraph

European Banks Face $1 Trillion Gap Before Review, Study Shows – Businessweek

 

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