The Incredible Shrinking White House Briefing - New York Times
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New York TimesThe Incredible Shrinking White House BriefingNew York TimesWe broke down Sean Spicer's statements from the first White House press briefing held after President Trump's first international trip. By SUSAN JOAN ARCHER and MARK SCHEFFLER. Photo by Doug Mills/The New York Times. Watch in Times Video ».CNN sent a courtroom sketch artist to cover a White House press briefingWashington PostFriday Talking Points — Trump Did Not Deny Tapes Exist!HuffPostTrump struggles to stay calm
Progressive/Libertarian: The Alliance That Isn't, by Bryan Caplan
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My one big disagreement with Ed Glaeser's great piece on housing deregulation is when he says:Reforming local land use controls is one of those rare areas in which the libertarian and the progressive agree. The current system restricts the freedom of the property owner, and also makes life harder for poorer Americans. The politics of zoning reform may be hard, but our land use regulations are badly in need of rethinking.Actually, there are four other big areas where the two ideologies conver
Easiest Path to Riches on the Web? An Initial Coin Offering
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Programmers are selling digital currencies redeemable for services that do not exist. Where some see a financing revolution, others see trouble.
A Visit to Bath: Tony Grant
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Dear reader, Jane Austen and the Georgian city of Bath are closely entwined throughout her novels and later life. Tony Grant’s contributions regarding Bath have been vitally important to me and this blog. His thoughts, images, and insights have enhanced my posts about this topic. Tony has generously allowed me to link to his popular […]
Watchdog clamps down on online gambling
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The competition regulator is to take action against betting sites which it says are breaking consumer law.
Delhi University First Cut Off Released; 98.25% For Economics And Commerce At SGTB Khalsa College
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New Delhi: Delhi University has released its first cut off for admission to under graduate courses in the 2017-18 academic session. There has been a seemingly marginal dip in the cut off percentage this year which has come as a sigh of relief for the students.
A Finger Exercise On Hyperglobalization
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Why small cost reductions led to big trade.
The Secret Republican Plan to Unravel Medicaid
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Bad enough that the Republican Senate bill would repeal much of the Affordable Care Act. Even worse,...
Ireland raises €3bn from Allied Irish Banks float
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IPO marks a milestone in country’s recovery from financial crisis
Bonus Quotation of the Day…
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(Don Boudreaux) Tweet… is from Thomas Jefferson’s Declaration of Independence and page xii of George Will’s “Foreword” to Georgetown University law professor Randy Barnett’s brilliant 2016 book, Our Republican Constitution (Declaration emphasis added by George Will): We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain […]
ECB bids for more euro clearing oversight
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The central bank seeks a "significantly enhanced" role in regulating the lucrative market.
Quotation of the Day…
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(Don Boudreaux) Tweet… is from page xvi of the September 22, 1992, letter that the late Paul Heyne wrote to his friend Paul Trescott, as this letter is reprinted in the Introduction to the 2008 collection of Heyne’s writings, “Are Economists Basically Immoral?” and Other Essays on Economics, Ethics, and Religion (Geoffrey Brennan and A.M.C. Waterman, eds.): […]
Central Ohio Passenger Train Advocates Gather to Raise the Alarm — and Hope
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The Trump Administration’s 2018 proposed budget would eliminate the Federal Transit Administration and its $4 billion annual budget within four years. It would also slash all funding to Amtrak’s National Network that has seen ridership grow 18 percent since 2000.
Nord Stream 2 means gains for Germany but pain for Europe
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The proposed Nord Stream 2 pipeline could destabilise European energy cooperation and offer Gazprom excessive influence in Central and Eastern Europe. These disadvantages do not justify the commercial benefits for German companies.
The Attacks On The Congressional Budget Office Are Wrong
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The Congressional Budget Office is under unprecedented political attack. These criticisms are overblown, and likely will prove to be counterproductive—even to those making them. CBO’s...
Contenders vie to be China’s next central bank governor
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Zhou Xiaochuan set to stand down after 15 years at helm of People’s Bank of China
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The Senate GOP leadership has a health care plan.
Nominal exchange rates, real exchange rates and protectionism, by Scott Sumner
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The three concepts mentioned in the title of the post are completely unrelated to each other. So unrelated that the subjects ought not even be taught in the same course. The nominal exchange rate is a monetary concept. Real exchange rates belong in course on the real side of macro, perhaps including public finance. And protectionism belongs in a (micro) trade course. The nominal exchange rate is the relative price of two monies. It's determined by the monetary policies of the two countries
Regulation of Charlatans in High-Skill Professions
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That is a new paper by Jonathan Berk and Jules H. van Binsbergen, here is the abstract: We study a market for a skill that is in short supply and high demand, where the presence of charlatans (professionals who sell a service that they do not deliver on) is an equilibrium outcome. We use this […] The post Regulation of Charlatans in High-Skill Professions appeared first on Marginal REVOLUTION.
The Trend That Will Shake the Nation
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"Hubris calls for nemesis, and in one form or another it's going to get it, not as a punishment from outside but as the completion of a pattern already started." Mary Midgley "Human rights are not only violated by terrorism, repression or assassination, but also by unfair economic structures that create huge inequalities. We have perfected our weapons, our conscience has fallen asleep, and
Daily briefing: Arab states issue demands to Qatar, healthcare bill under threat, Brexit one year on
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Thirteen-point list includes closure of Al Jazeera satellite TV channel and limiting relations with Iran
Weekend catchup — this week’s personal finance headlines
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China stocks, IHT record, interest rates clash
Sovereign and Sovereignty
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I am wondering whether I can persuade the cast of Blackadder to assemble for one last hurrah. The plot will revolve around the growth of greed in Regency England. It can make refer askance to the South Sea Bubble. The century is entirely wrong but who will care?Blackadder has become caught up in speculative frenzy. Being immoral but not irrational he is not a very successful trader. He either cannot understand or cannot accept that liabilities are actually assets and this weakens his abili
Recommended reading: Camille Paglia on Trump, Democrats, Transgenderism, and Islamist Terror
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That's the title of an interview with Camille Paglia published by The Weekly Standard. She's one liberal who's had my total respect for many years. She knocks several balls way out of the park on both sides of the aisle, and in grand style. Here's one excerpt I especially liked, in which she skewers political correctness:Liberalism of the 1950s and '60s exalted civil liberties, individualism, and dissident thought and speech. "Question authority" was our generational rubric when I was in college
The waivers in the Senate health bill are crazy
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From my latest at Vox, on the Better Care Reconciliation Act of 2017: The Senate bill retains [the ACA’s] waiver provision—but removes the guardrails that ensured state-based alternatives would offer strong coverage. Under the Senate bill, to get a waiver a state doesn’t have to demonstrate anything about coverage. Instead, it just has to show […]
Is America in Retreat?, by David Henderson
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This evening Johan Norberg, who, with Free to Choose Media, put together a one-hour video on foreign policy, will be presenting a segment of the video at the Commonwealth Club. There will be a panel discussion after. I will be one of the panelists. The gist of the video is that the U.S. government is in retreat from commitments around the world and shouldn't be. Here are the details: Location: 555 Post St., San Francisco Time: 5:45 p.m. check-in, 6:30-8:15 p.m. film screening and discussion
Confronting the Unspeakable
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"Those who are at present so eager to be reconciled with the world at any price must take care not to be reconciled with it under this particular aspect: as the nest of The Unspeakable. This is what too few are willing to see... Be human in this most inhuman of ages; guard the image of man for it is the image of God." Thomas Merton, Raids on the Unspeakable “A true opium of the people is
Is the Finance Sector Shrinking?
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A Bull Market That Creates Few Jobs in Finance The big difference this time is technology and automation. Bloomberg, June 23, 2017
Hedge Fund Test
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Hedge Fund Test? Skilled investors score 100% on Hedge Fund Test but the mode is 0%. Like stocks or hedge funds there is NO AVERAGE. How will you do? It takes inherent ability and minimum 50,000 hours full time short/long investing experience to BECOME skilled and 100 hour weeks to remain so. Are you a rare alpha star or just another beta bandit? Do you have what it takes?1) Human resources: You need to recruit a performance rainmaker. Your shortlist comprises the following candidates. You can o
Foolproof
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I doubt they need to be "foolproof" in the sense of being 100% safe. The problems with semiautonomous features should sound a warning bell for auto makers, tech companies and parts suppliers. Customers will need to be convinced that these semiautonomous features that are the building blocks for autonomous vehicles are foolproof before they give up driving control.They need to work in a way which reduces your stress levels, not increases them. Look even basic "cruise control" which has been aro
Nigeria to Become Third World Largest Economy by 2050, Says EU Ambassador
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If going by the forecast, Nigeria market is billed to become the third largest world economy after China by 2050, said the European Ambassador to ECOWAS, Mr. Michel Arrion. Speaking during his working visit to the Nigerian Chamber of Commerce, Industry ...
Chronicle of a Crisis Foretold
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A guest post by Paola Raffaelli, who is an expert in the Argentinian social economy and is studying for a PhD at Roehampton UniversityThe crisis that occurred last week in Argentina is the unleashing of a cycle that began 40 years ago with the onset of neoliberal policies. This was exacerbated by a complex domestic and international situation. These factors that converged this time will be analysed, not losing sight of the structural perspective.This most recent crisis in Argentina is part of an
US Monetary Selfishness is Devastating for 'RoW'
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Remember the World Series? The naming of this League has always struck me as an interesting insight into how the US sees the rest of the world. In reality only US teams play in the league, implying that the US is the world. Their economic and monetary policy has always adopted a similar worldview.The phrase 'the world is your oyster' has really described the approach the US has been able to take to global markets since the agreement at Bretton Woods in 1944 that dollars would become the fundamen
PODCAST: Bankruptcy of our Nation – One State at a Time
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In this week's broadcast, as bankruptcy looms large over Illinois, economist and author Jerry Robinson exposes the underbelly of America's increasing financial woes - and offers us a positive plan of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Dry Bulk and World Economy: A glimmer of hope - Hellenic Shipping News Worldwide
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Hellenic Shipping News WorldwideDry Bulk and World Economy: A glimmer of hopeHellenic Shipping News WorldwideIn its latest weekly report, shipbroker Allied Shipbroking noted that “during the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Bank, IMF and OECD have all made
Looking Back to Move Ahead
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By IMFBlog June 16, 2017 Ian Goldin at IMF lecture (photo: IMF staff) While advances in science and technology are rapidly propelling human achievement into the future, Ian Goldin says history shows us how to handle the changes occurring in the world today. In this podcast, Goldin, Professor of Globalization and Development at Oxford University […]
Best Jobs in a Bad Economy: Recession Proof ways to make Extra Money
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It’s no secret that times are tough and when the economy begins to weaken, jobs become harder to secure and fewer in numbers. The economy in the United States is causing great concern for everyday citizens around the world. While top level executives are walking away with millions from failed companies, investors and employees are facing hard facts about their investments, their careers and their future.When you find yourself under the axe, your career aspects are bleaker across the board and if