9th January 2012
James Surowiecki talks about last year's volatility in the stock market: "While crazy volatility may be great for traders (who live for the chance to make two per cent a day), it's lousy for the rest of us, and for the economy as a whole." New Yorker
There are a number of possible reasons why some European countries are facing the wrath of the market are many. Giancarlo Corsetti and Hashem Pesaran argue that they all boil down to one measure – inflation. Using the inflation differentials as a guide is the first step to seeing what countries need to adjust – and by how much. Vox EU
"Overall, there are both internal structural factors and external global factors, which contribute to the making of an epic hard landing in China." Dee Woo thinks China needs to adapt and change fast. Or this will be the best time in history to short China. Zero Hedge
Donald J. Boudreaux posts a letter he sent to the Washington Post in response to a piece George F. Will wrote on progressive taxes. "Nutter in 1974 offered the following observation that should temper the tempers of at least the more thoughtful Wall Street Occupiers and other people alarmed by income differences: "Progress did not, by and large, aggravate inequities, but it made us more aware and less tolerant of them." Café Hayek
The five biggest bowl games bring in $1.2 billion for their host cities and, naturally, the directors live like kings on fat-cat salaries. Fast Co Design
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