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Hollowing Out: Income inequality and income distribution
Today’s post is going to be short. The theme is income inequality. My thesis on this has been that globalization is a net transfer from the developed economy middle class to developed economy elites and the emerging market middle class. I…
News: 2014-05-12
Russia Says It Respects Disputed Ukrainian Referendums - Bloomberg
Portugal inches closer to upgrade, spreads continue to outperform | Capital City | IFRe
EU adds two Crimean companies, 13 people to Russia sanctions list | Reuters…
Economic and market themes: 2014-05-09 On Easy Money
Expect the ECB to do something in June, but not QE
Ukraine is the top geopolitical risk
Rotation into defensive names in the US is worrying
China is exporting deflation
Easy money is causing a reaching for yield
On reaching for yield and ECB QE
I believe investors are reaching for yield and there are multiple signals indicating such. This is a direct outgrowth of easy money policies by central banks as nominal yields are at record lows and real yields are negative.
Investors,…
News: 2014-05-08
Lenders race to join subprime car loan boom - FT.com
Mathias Döpfner’s open letter to Eric Schmidt
No, Housing Is Not Like Food - Forbes
Halifax reports fall in UK house prices for second month running | Money | theguardian.com
Barclays…
Detailed analysis and thoughts on the Alibaba IPO
Alibaba, the Chinese e-commerce company, is going public via an initial public offering underwritten by Goldman Sachs, JPMorgan, Morgan Stanley, Citigroup, and Credit Suisse. Alibaba was founded 15 years ago in 1999 in a one-room apartment…
Endogenous Money in the Media
Last night, we aired two segments on endogenous money on Boom Bust, the TV show I am now producing on RT, the Russian broadcaster. Frances Coppola and Cullen Roche do a good job of explaining the details. Take a look