Salient to Investors: Nancy DiTomaso at Rutgers said: You cannot network with those you don’t know, and racial inequality in the job market is not so much about discrimination as it is about favoritism. People hire people like themselves, meaning whites hire other whites. People essentially get jobs because other
READ MORE... →Salient to Investors: Caroline Baum writes: C. Fred Bergsten says Sweden combines a social welfare society with a free-market economy and a high degree of government efficiency: nearly two-thirds of Swedes confirm by phone that the tax form prepared for them by authorities is correct. cards use your Michael McDonald
READ MORE... →Salient to Investors: Steve Hanke at Johns Hopkins University said inflation is always and everywhere a monetary phenomenon, but hyperinflation is always and everywhere a political phenomenon. payday short term loan Ricardo Hausmann at Harvard says the Fed’s planned tapering is not the only reason why emerging-market stocks and bonds
READ MORE... →Salient to Investors: Matthew Benjamin at Medley Global Advisors said there is a perception that there is a difference between Yellen and Summers” in their approach to monetary stimulus. Leo Grohowski at BNY Mellon Wealth Mgmt said the market was comfortable with a Yellen appointment and is now needing to grow comfortable with
READ MORE... →Salient to Investors: Caroline Baum writes: Tapering seems fully priced into the market, and time is not on the Fed’s side. Vince Reinhart at Morgan Stanley said Fed officials have already paid a high price in terms of market volatility for showing their desire to end QE. Long-term interest
READ MORE... →Salient to Investors: Caroline Baum writes: Arvind Krishnamurthy at Northwestern and Annette Vissing-Jorgensen at Berkeley found that Treasury purchases themselves have had limited beneficial spillovers to private borrowers, i.e. the Treasury was able to borrow at lower interest rates but not the rest of us. The researchers found that the
READ MORE... →Salient to Investors: Fareed Zakaria said: The distinctive feature of the American system is how undemocratic it is. Three co-equal branches of government and the one with the final say on many issues is composed of 9 unelected men and women. The Senate, the most unrepresentative upper house in the
READ MORE... →Salient to Investors: Jim Rogers writes: In the 1920s and 1930s, the center of the world moved from the UK to the US, primarily due to financial problems and political mistakes. The centre of the world is now moving from the US to Asia, due to the financial crisis and
READ MORE... →Salient to Investors: Caroline Baum writes: Markets all along understood that tapering and raising the federal funds rate were two different animals. Central bankers have fallen in love with their own voices, and communication has become a policy tool. Benn Steil at the Council on Foreign Relations said new BoE
READ MORE... →Salient to Investors: Caroline Baum writes: The bad idea that the Fed could “fix” things faster with more inflation keeps popping up in academic circles: Kenneth Rogoff of Harvard in December 2008, followed by Greg Mankiw of Harvard, Olivier Blanchard at the IMF in 2010. Noah Smith advocates inflation of
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