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Technology
To Catch Up, Walmart Moves to Amazon Turf
Walmart is beefing up its technology in an effort to compete with Amazon for Internet shoppers and the software engineers needed to attract them.
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Business Day
After Pause, Resupplying Economic Data
Delayed data will trickle out over the month. September’s jobs report will not be released until next Tuesday.ZLB Denial
Yes — if back in 2007 you denied the existence of liquidity traps,
that is, denied that the zero lower bound on short-term interest rates
places limits on monetary policy, you should long since have
acknowledged that you were very, very wrong:
Since late 2007 the monetary base has risen more than 300 percent,
while GDP and consumer prices have risen less than 20 percent. And no,
the disconnect is not all due to the 0.25 percent interest rate the Fed
pays on reserves.
You can argue that the Fed could have done more — it could have expanded its balance sheet even further, and/or moved into riskier assets, and/or done more to change expectations. But I don’t see how you can deny that making monetary policy effective has been far harder since we hit the ZLB than it was before, and that this retroactively casts great doubt on Friedman’s claims that the Fed could easily have prevented the Great Depression."
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You can argue that the Fed could have done more — it could have expanded its balance sheet even further, and/or moved into riskier assets, and/or done more to change expectations. But I don’t see how you can deny that making monetary policy effective has been far harder since we hit the ZLB than it was before, and that this retroactively casts great doubt on Friedman’s claims that the Fed could easily have prevented the Great Depression."
" 71 Comments
Lies, Damned Lies, and Fox News
The other day Sean Hannity featured some
Real Americans telling tales of how they have been hurt by Obamacare. So
Eric Stern, who used to work for Brian Schweitzer, had a bright idea:
he actually called Hannity’s guests, to get the details.
Sure enough, the businessman who claimed that Obamacare was driving up his costs, forcing him to lay off workers, only has four employees — meaning that Obamacare has no effect whatsoever on his business. The two families complaining about soaring premiums haven’t actually checked out what’s on offer, and Stern estimates that they would in fact see major savings.
You have to wonder about the mindset of people who go on national TV to complain about how they’re suffering from a program based on nothing but what they think they heard somewhere. You might also wonder about what kind of alleged news show features such people without any check on their bona fides. But then again, consider the network."
Sure enough, the businessman who claimed that Obamacare was driving up his costs, forcing him to lay off workers, only has four employees — meaning that Obamacare has no effect whatsoever on his business. The two families complaining about soaring premiums haven’t actually checked out what’s on offer, and Stern estimates that they would in fact see major savings.
You have to wonder about the mindset of people who go on national TV to complain about how they’re suffering from a program based on nothing but what they think they heard somewhere. You might also wonder about what kind of alleged news show features such people without any check on their bona fides. But then again, consider the network."
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Health
The Workout: Rowing With Esther Lofgren, Olympian
Members of the American national rowing team follow an intense training regimen of weight lifting and aerobic training for 40 to 60 hours a week. Olympic gold medalist Esther Lofgren takes us through the rower’s workout.
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Movies
Facing a Pitiless Void
Some of this season’s films address adversity in solitude — “All Is Lost” at sea, “Gravity” in space — or under confinement (“Captain Phillips”).
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Opinion
Activism in the Court
Richard L. Ottinger, dean emeritus of Pace Law School, responds to a news analysis, “How Activist Is the Supreme Court?”
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Booming
Advice About Assisted Living for Aging Relatives, Part 1
Debra Drelich, a specialist in geriatric care, answers questions about the types of facilities for assisted living, age guidelines, licensure and “aging gracefully in place.”
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World
Canada: Shale Protest Ends in Arrests
The Royal Canadian Mounted Police said Thursday that they had arrested at least 40 people in eastern New Brunswick at a violent protest over shale gas development.
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Business Day
No Deposition of Bernanke in A.I.G. Lawsuit, Court Says
A panel of three federal appeals judges overturned a ruling from July, saying that Ben S. Bernanke did not have to testify in a multibillion-dollar lawsuit while in office.
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U.S.
Kansas: Former Attorney General Loses Law License for Anti-Abortion Actions
The state Supreme Court indefinitely suspended the law license of former Attorney General Phill Kline on Friday after allegations of ethical misconduct during his investigation of abortion providers.
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World
Between Big Cities, a Road Passes the Russia Left Behind
Along the highway between Moscow and St. Petersburg — a 12-hour trip by car — one sees great neglected stretches of land that seem drawn backward in time.
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Sports
Many Ex-Players May Be Ineligible for Payment in N.F.L. Concussion Settlement
Only players with the most severe brain injuries will be compensated, and the estates of retirees who died before 2006 would be excluded, according to a draft of the proposed settlement.
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Your Money
With Giving Season in Full Force, Seeking to Understand Donors
A new report challenges some accepted wisdom about how people give money and why they sometimes don’t.
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Style
Children With Learning Disabilities Don't Need More Opportunity to Fail
Children may benefit from failure, but children with learning disabilities, like dyslexia, need more opportunities to succeed.
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Opinion
Here Comes the Neighborhood
An affordable housing development in Mount Laurel, N.J., holds promise for integration.
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Opinion
Color Me Blue
Mayor Bloomberg sold out New York for a small fee to a bank that has now changed the city’s color palette. And, created chaos.
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Technology
Google Stock Tops $1,000, Highlighting a Tech Divide
The shares closed up by a record 14 percent in another reminder that a handful of companies have taken control of the technology industry.
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U.S.
Texans Stick With Cruz Despite Defeat in Washington
Senator Ted Cruz’s defiance in Washington has only bolstered his standing in his home state, illustrating the growing political divide between Texas and the rest of the nation.
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Opinion
The Damage Done
We may have managed to avoid driving off a cliff this week, but we are still on the road to nowhere.
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U.S.
California Sees Gridlock Ease in Governing
New election rules in California, once a symbol of government dysfunction, may be having their desired effect of leaching some of the partisanship out of politics.
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U.S.
Larry Benoit, ‘Babe Ruth for Hunters,’ Is Dead at 89
Mr. Benoit tracked whitetail deer through northern New England and southern Canada for more than seven decades and became one of the nation’s most revered deer hunters.
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U.S.
No Claytie and the Lady This Time
Anyone hoping that a Greg Abbott and Wendy Davis governor’s race will be a repeat of Clayton Williams and Ann Richards is likely to be disappointed.
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World
To Form German Coalition, Merkel’s Party May Need to Support a Minimum Wage
Although Chancellor Angela Merkel is against introducing a nationwide minimum wage, it may be the price she has to pay to build the stable government she has promised voters.
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15
Health
Decades Later, Condemnation for a Skid Row Cancer Study
Two papers revisit the work of a Columbia researcher who conducted invasive surgery on skid row residents in vain hopes of curing cancer.
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Business Day
Good (and Bad) News for Air Travelers
Speedier security checks are one reason to find cheer, but there are enrollment delays for the programs.
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World
Aam Aadmi Party Breaking the Rules of Identity Politics
The party that made a foray into politics on an anticorruption agenda, is trying to establish its secular credentials in the upcoming Delhi state elections, by fielding a Muslim candidate in a constituency with a majority Hindu population.
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Business Day
Philadelphia Newspaper’s Owners at War
The battle at The Philadelphia Inquirer may seem like one more bit of denouement for an industry on the wane, but it spotlights a fight for the soul of both an institution and a city.
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World
Swap Frees Lebanese Held by Syrian Rebels in Exchange for Turks
Lebanese citizens held by Syrian rebels were freed under the deal, as were Turkish pilots kidnapped by Lebanese gunmen.
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