Financial Markets and Economy
This map will change the way you see the US economy (World Economic Forum)
At $1.5 trillion, the Greater New York area's contribution to the US economy not only outstrips all other regions in the Unites States, it also exceeds the GDP of all but 11 countries. If it were its own country, Greater New York’s economy would be larger than both Australia and South Korea.
Best Practices For Monitoring Recession Risk (Capital Spectator)
Recent economic data for the US suggests that the stock market’s hissy fit this year has been a false signal for anticipating a new recession. That’s not surprising—the short-term noise in equity prices is a constant challenge for business-cycle analysis and so it’s not uncommon that market volatility will lead us astray at times.
“Nearly 100% Of Chinese Steel Making Is Loss Making” Credit Suisse (Value Walk)
China is one of the biggest themes for next year, in what’s expected to be a continuation of this year’s macroeconomic problems, according to analysts at Credit Suisse. They warn of competitive threats from the country and a possible Chinese hard landing in the next two to three years.
The Bull Market Is Seven Years Old; Why Aren’t People More Excited (Wall Street Journal)
The post-crisis bull market turned seven today. But it wasn’t a day for fancy presents or fireworks, or even an ice-cream cake in the office. It wasn’t really that kind of birthday party.
Here's a Central Banker Who Doesn't Care About Inflation (Bloomberg)
He’s said repeatedly that inflation is important. It’s the mandate of Norway’s central bank, after all — 2.5 percent inflation over time. But Governor Oeystein Olsen’s commitment to that goal is questioned by many.
Fed's March Policy Message May Be Crimped by Muscular ECB Move (Bloomberg)
Dramatic action by the European Central Bank is raising questions about how far the Federal Reserve can diverge from its peers.
The real economy and markets are so far apart they look like 'two parallel realities' (Business Insider)
Depending on where you look the outlook for the economy is either serene or a total disaster.
That is according to Ken Leech, chief investment officer at Western Asset Management.
ECB's Draghi plays his last card to stave off deflation (The Telegraph)
The European Central Bank has pulled out all the stops to avert a dangerous deflation-trap, launching a blast of triple stimulus despite angry criticism from Germany that it is entirely unnecessary and will do more harm than good.
The markets reacted wildly to the package of measures, surging at first and then plummeting on creeping fears that the bank has exhausted its policy options and may be defenceless against a fresh shock.
EPA expands methane rules to all oil and gas wells (Fuel Fix)
The U.S. Environmental Protection Agency is expanding its crackdown on methane emissions from oil and natural gas drilling to all existing wells.
The announcement from the White House Thursday came as part of a joint agreement with Canada on climate change, curbing methane emissions from North America and taking steps to protect the Arctic region from rising temperatures and oceans.
Mutual Funds Oppose S.E.C.’s Plan for a Bigger Cash Cushion (NY Times)
At an industry conference last week, the lead regulator for the Securities and Exchange Commission’s asset management division came under fire.
The official, David W. Grim, was highlighting an initiative that would require mutual funds to increase their liquidity cushions to accommodate investors looking to leave in a hurry.
Emerging market currencies got trounced in 2015 — and HSBC thinks now is the time to buy (Business Insider)
2015 was the year of the dollar.
How ETFs Work (Bloomberg)
Exchange Traded Funds, or ETFs, are a financial instrument born out of a 1988 840-page SEC Black Monday postmortem. An ETF contains an assortment of securities; you can think of it like a basket tracking an index. For instance, SPY, the world’s most traded security, tracks the S&P 500. Others follow indexes made up of everything from tech stocks to municipal bonds. New ETF shares are created and redeemed by trading the basket for the ETF and vice-versa.
Online Lender SoFi Starts Hedge Fund to Invest in Its Own Loans (Bloomberg)
Social Finance Inc., a rapidly growing online lender, is hoping to stoke investor demand for the debt it originates by starting a hedge fund that will buy its own loans — and potentially those of its competitors.
Oil meeting on output freeze unlikely without Iran progress: sources (Reuters)
A meeting between oil producers to discuss a global pact on freezing production is unlikely to take place in Russia on March 20, sources familiar with the matter say, as OPEC member Iran is yet to say whether it would participate in such a deal.
How To Be Wrong As An Investor (A Wealth of Common Sense)
One of the best and worst things about the financial markets is that they’re never going to be perfect. There will always be something to worry about because even stability can breed instability. This is one of the many things that makes the markets so challenging.
Apple Announces March 21 Event to Debut Updated Smaller IPhone (Bloomberg)
Apple Inc., attempting to get back to the business of introducing new products as it fights with the U.S. Justice Department in court, announced a March 21 event where the company is expected to unveil a smaller-screen iPhone and an updated iPad.
Is Passive Investment Actively Hurting the Economy? (New Yorker)
If you have so much as tiptoed into the arena of personal finance over the past few decades, you will have heard about the virtues of passive investing. The argument goes like this: the stock market will outperform other investments over the long term, yet no individual is in a position to outsmart the market as a whole. So the best way to reap the rewards of investing in stocks with minimal risk is to put your money in a fund that tracks the performance of some broad, indexed measure of the market, such as the S. & P. 500.
Politics
You wouldn’t know it from watching TV last night or reading the national papers this morning but Bernie Sanders’ Michigan win ranks among the greatest upsets in presidential primary history.
Escape the Election Madness, Move to Canada (Bloomberg)
Does the rhetoric and discord of the American presidential race have you rolling your eyes? Are you wondering how to cast a vote when none of the candidates looks good? After a debate, primary, or caucus you find yourself wistfully looking northward, to the promised land of Canada. Our neighbor has a certain appeal during election cycles. It has a lot going for it. You already know the language. Tim Hortons makes delicious donuts.
The Obama Doctrine (The Atlantic)
Friday, August 30, 2013, the day the feckless Barack Obama brought to a premature end America’s reign as the world’s sole indispensable superpower—or, alternatively, the day the sagacious Barack Obama peered into the Middle Eastern abyss and stepped back from the consuming void—began with a thundering speech given on Obama’s behalf by his secretary of state, John Kerry, in Washington, D.C. The subject of Kerry’s uncharacteristically Churchillian remarks, delivered in the Treaty Room at the State Department, was the gassing of civilians by the president of Syria, Bashar al-Assad.
Technology
This really weird trick will actually speed up your iPhone (Quartz)
That headline might sound like an internet ad that you don’t want to click on, but hear me out. If you feel your iPhone is acting a little sluggish, there’s a new trick surfaced by 9to5Mac that will make every action feel a little snappier.
Is Artificial Intelligence Being Oversold? (Scientific American)
After taking a 2-0 lead in its five-game match with Lee Sedol on Thursday, Google-DeepMind’s AlphaGo artificial intelligence program seems likely to claim victory within the next few days. This will no doubt resurface the many questions people have about AI’s future and whether humans are inching towards Matrix-like enslavement. Fortunately, last night’s "Don’t Trust the Promise of Artificial Intelligence" Intelligence Squared debate in New York City addressed a lot of these questions and concerns.
Health and Life Sciences
Gum disease link with Alzheimer's (BBC)
The small study, published in PLOS ONE, looked at 59 people who were all deemed to have mild to moderate dementia.
It is thought the body's response to gum inflammation may be hastening the brain's decline.
Well: The Longer You Work, the Greater Your Risk for Heart Disease (NY Times)
The more hours you work, the greater your risk for heart disease.
Several observational studies have found an association of long work hours with an increased risk for cardiovascular illness. Now a new retrospective analysis has found there is a dose-response relationship: more hours, more risk.
Life on the Home Planet
Big solar is heading for boom times in the US (Vox)
When people think of solar power, they tend to think of panels on rooftops. That kind of small-scale, distributed solar power is the most visible, gets the most press, and, from the consumer perspective, has the most sex appeal.
Background checks for gun buyers could save lives, U.S. study finds (Reuters)
Laws requiring background checks for buyers of guns and ammunition, as well as requirements that firearms be traceable, could sharply reduce gun deaths in the United States, according to a study published on Thursday.
Many state-level gun regulations have little effect on the number of gun-related homicides and suicides.
