Financial Markets and Economy
The US is a currency manipulator just like everyone else (Business Insider)
Last month, central bankers and finance leaders from the Group of 7 (G-7) advanced economies met in Sendai to discuss the global economy at large. As expected, the United States cautioned Japan, a US currency watchlist country, to refrain from taking further steps to manipulate its currency. This warning came as a result of finance minister Taro Aso hinting that his country was “prepared to undertake intervention” in the foreign exchange market in order to weaken the yen.
Easy Money and the Fed’s War on the Middle Class (Huffington Post)
The Federal Reserve’s monetary policies burden American middle class families as they endeavor to retain their quality of life, financial prospects and social standing.
Asian shares steady, but strong yen sinks Nikkei (Reuters)
Asian shares were steady on Thursday as Wall Street eked out modest gains after the latest batch of U.S. data provided few clues on when the Federal Reserve might raise rates, while a resurgent yen pressured equity markets in Japan.
Amazon Prime members keep coming back for more, report finds. Lots more (CNet)
Amazon Prime members stick around.
That's according to survey data published by a group out of Chicago, the Consumer Intelligence Research Partners (CIRP), which found that 73 percent of the folks who started a 30-day trial wound up paying their $99 membership for the full year. The renewal rate is even higher for first-year members signing on for a second year: 91 percent chose to stay on, and Amazon's retention rate climbed to a whopping 96 percent for those who were starting a third cycle.
Renewable Energy Isn't About to Doom Oil (Bloomberg View)
For hydrocarbon doomsayers, there's good news and bad news. In 2015, there were record investments in renewable energy, and record capacity was added, much of it in emerging economies. Yet despite the huge investment, the global share of fossil fuels is not shrinking very fast. Renewables such as wind, solar and geothermal still account for a tiny share of energy production, and there are factors that may inhibit their growth in the next few years.
The world's economic 'canary in the coal mine' flopped again (Business Insider)
The world's economic canary in the coal mine has flopped again.
Trillions in Debt—but for Now, No Reason to Worry (Wall Street Journal)
If current trends persist through the end of the year, U.S. households will owe as much as they did at the peak of borrowing in 2008.
Say ‘yes’ to the financial adviser who will tell you ‘no’ (Washington Post)
Is finance a profession, akin to accountants, architects, lawyers and doctors? Or is it a mere salesmanship gig, akin to those whose jobs are to hawk as many autos, washing machines or insurance policies as possible that month?
"Clients Still Don’t Believe The Rally" – Smart Money Sells Stocks For Record 18th Consecutive Week (Zero Hedge)
Last week, when BofA reported that its "smart money" clients had sold stocks fora record 17th week, the bank offered the following silver lining.
Why socially responsible investing is financially irresponsible (Market Watch)
Wall Street loves its fads. And if you’re looking for hot trends touted by money managers right now, it’s hard to find one more buzzworthy than “socially responsible investing.”
Bloomberg Intelligence recently posted an analysis of this trend, noting that various strategies labeled as “responsible” or “ethical” investing have now grown to cover 30% of global assets — or a stunning $21 trillion. So if you’re thinking that only broke hippies would want to marry Wall Street with ethics, think again.
Why stocks need more than just strong economic data to jump (Market Watch)
U.S. stocks slumped this week after a solid reading on consumer spending, inflation and positive but sluggish growth in manufacturing, suggesting there is still fear of the Federal Reserve tightening faster than Wall Street is expecting.
World's Largest Asset Manager Downgrades Global Equities To Neutral (Zero Hedge)
With one after another bank issuing downgrade reports on global stocks, including such stalwarts as JPM and, most recently, Goldman, overnight a far more important market entity – the world's largest asset manager – joined the club when BlackRock downgraded U.S. and European stocks to neutral, citing elevated U.S. valuations and the higher probability of a midyear interest-rate increase by the Federal Reserve.
Mobile wallets like Apple Pay are catching on, but slowly (Business Insider)
Mobile payments are gaining traction, but the process has been slow in the early going.
Preqin: Billion-Dollar Club Grows by 98 in 2015, Controls 88% of Industry AUM (Finalternatives)
The number of hedge fund managers with more than $1 billion in assets under management rose by 98 in 2015 despite an overall decline in the amount of capital entrusted to them, according to new data released by Preqin, while the “$1 billion Club” now holds an extraordinary 88% total hedge fund industry assets.
Politics
Shady accounting underpins Trump’s wealth (Politico)
Donald Trump claims a net worth of more than $10 billion and an income of $557 million. But he appears to get there only by overvaluing properties and ignoring his expenses.
Donald Trump is the ultimate tail-risk candidate, but voters aren't focusing enough on how risky he is (Business Insider)
In investing, risk requires compensation. Investors will expect a higher return from a risky bet, and — conversely — will pay for certainty. It's why you pay double-digit rates on your credit cards, while the federal government can borrow for next to nothing.
Technology
Is This Smart Typewriter Hipster Bait Or Thoughtful Tech? (PSFK)
It was with trepidation that I advanced on my local cafe in New York, clutching the handle of my Freewrite “smart typewriter” like a spy en route to a briefcase switch.
An electric typewriter that promises digital connectivity without the distractions, Freewrite has largely been dismissed by the tech press. Even the pop culture mavens of Mashable denounced it as “pretentious hipster nonsense”, excoriating its weight (four pounds), diminutive screen (5.5in) and hefty price tag ($499).
Health and Life Sciences
Scientists discover inherited MS gene (BBC)
Scientists say they have found a gene that causes a rare but inherited form of multiple sclerosis.
It affects about one in every thousand MS patients and, according to the Canadian researchers, is proof that the disease is passed down generations.
Weak Immune Response in Women May Raise Autism Risk in Children (Scientific American)
Women who develop infections during pregnancy run an increased risk of having a child with autism. Most data indicate that an overactive maternal immune response underlies the risk.
But a new analysis runs contrary to this view: It ties high levels of an inflammatory protein in pregnant women to a low risk of autism in their children, suggesting that a strong immune response is protective.
Life on the Home Planet
We’re in Year Five of California’s Drought (Slate)
On Wednesday, California said goodbye to its mandatory statewide water restrictions for urban use, a tip of the umbrella to the relatively wet winter northern parts of the state had, which helped fill reservoirs and brought a relatively normal snowpack to the Sierras.
That decision was probably premature.
King Tut’s Knife Was Made From A Meteorite (Huffington Post)
Scientists say an iron knife buried with King Tut is truly out of this world.
The knife was made with iron that came from a meteorite, according to an article in the journal Meteoritics and Planetary Science published online last month.
