http://idealab.talkingpointsmemo.com/2012/01/solar-trade-war-looms-as-us-considers-tariffs-on-china.php?ref=fpblg
It looks like Europe has made no real progress on finance.
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Joshua Slavitt
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Tara Parker-Pope
Sooner is better. As soon as you can is best.
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Does IMF Stand for Impressive Macroeconomic Flexibility?
So the IMF is holding a meeting on rethinking macroeconomic policy (I was invited but couldn’t make the timing work.) And the Fund’s chief economist has already made it clear that he’s open to some serious revision of the prevailing paradigm.
KRUGMAN Blog:Eurozone Problems
I’m giving a talk in Paris tomorrow. Here are some slides; they won’t come as a shock to regular readers, but it may be useful to see them all in one place.
First, I make the case that the overall economic crisis is driven by private debt, not public debt:
Then I point to the huge swing of the private sector into financial surplus, which necessitated large public deficits to avoid a much deeper slump:
I then turn to Europe, which has the additional problem of a capital flow bubble from north to south induced by the euro, which has to be reversed:
The counterpart of these current account imbalances was a large divergence in relative price levels:
Implicitly, Europe is relying on “internal devaluation” to reverse this divergence. But the reality is that this is very hard given nominal rigidity, even in Ireland, which is wrongly held up as an example of successful adjustment:
Also, Europe has bought into the notion that fiscal irresponsibility is at the heart of the crisis, which is true only of Greece and not true of the troubled countries as a group:
And even on the IMF’s reckoning, none of the austerity countries is plausibly on the road to a tolerable fiscal situation:
The Telegraph:
Portuguese storm gathers as EU leaders fight over Greece
Surging borrowing costs in Portugal have raised the spectre of a second full-fledged contagion crisis in the eurozone, eclipsing the latest efforts by European Union leaders in Brussels to agree on Europe's bail-out machinery and a strategy for Greece.
30 Jan 2012| 24 CommentsDebt crisis: as it happened, January 30, 2011
French president Nicolas Sarkozy says the Czech PM won't sign up to the financial stability treaty, already vetoed by Britain, and that a deal on Greece's debt could be agreed in 'days'.
30 Jan 2012| 922 CommentsEurozone leaders sign up to budget pact, with Greek deal "days" away
European leaders agreed on a permanent rescue fund for the eurozone, and 25 out of 27 EU states backed a fiscal pact for stricter budget discipline in the eurozone, while a deal on Greek debt is expected in "days".
30 Jan 2012| 51 CommentsIs the West finished? Perhaps not quite
For me, the defining image from Davos this year was the sight of Christine Lagarde, managing director of the International Monetary Fund, holding up an expensive-looking, designer leather holdall and saying: "I am here with my little bag to collect a bit of money."
30 Jan 2012| 5 CommentsCameron accused of 'appeasing' Nick Clegg over EU veto as Conservative MPs start to plot
David Cameron was accused of “appeasing” his deputy Nick Clegg by performing an about-turn on Britain’s veto against closer ties among eurozone countries tonight.
30 Jan 2012| 3 CommentsCameron: 'We need to get serious about Europe growth agenda'
The Prime Minister calls for action to sort out struggling European economies at a meeting in Brussels.
30 Jan 2012| 26 Comments
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This Is Your Brain on Metaphors
“Mind, body & spirit - connected This Is Your Brain on Metaphors - http://nyti.ms/be8b5d”An interesting thought.
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Chickpea Soup With Sausage
I can do this.
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Eric Lander
http://www.nytimes.com/2012/01/03/science/broad-institute-director-finds-power-in-numbers.html?_r=1
Nice if you can bring it off.
I don't want to build such an empire.
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BizJournalism
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Mitch Miller, Music Executive and TV Host, Dies
“Mitch Miller, Music Executive and TV Host, Dies at 99 - http://nyti.ms/bJeTWH”My set of images is a send up in MAD Magazine. 1956?
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cleff
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Church Mailer, Artist and Ally, Dies
“Norris Church Mailer's obituary - http://nyti.ms/daYMd5. We dined together twice, 19 years apart. She was the sweetest lady, funny & nice.”Norman was not a good person. He did write.
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Through a Glass Darkly
The very skilled are like Jeff Cronenweth in their interactions.
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Suzanne
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Are Top Students Getting Short Shrift? - Room for Debate
“Are Top Students Getting Short Shrift? - Room for Debate - http://nyti.ms/oSu0fj”
The top students likely are getting less push than they could use.Most of them are already driven very hard. The class room push will not be that critical To their achievements. -
Local Food Has Been No Easy Sell in Appalachia
“Local Food Has Been No Easy Sell in Appalachia - http://nyti.ms/pUAccI”My thought was to run vegetables to the "farmers market" in the city an hour away. If we could find an outlet closer I have no objection. I have no desire to be in the food service business.Owning a truck garden business that breaks even financially and feeds us would be my objective. Enough sweet corn to feed the animals and the customers too.
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tagami
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Shadow Cities, a New iPhone Video Game - Review
“Shadow Cities, a New Geocentric, MMO, iPhone Video Game - Review - http://nyti.ms/o9ho6i @greyarealabs”
Why pretend?Money works this way if one wishes to make the effort.
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vakirk
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Louann Bowers, Pennsylvania Runaway in 1993, Faces Charges
“Sad story of a family "lost" for 13 year by authorities in York, Pa., who say they did nothing wrong. I am dubious.... http://nyti.ms/i5NEcd”
This is a situation that needed a social worker and still needs a social worker. Early abuse and continued ignorance look to be most of it.A feral child raising feral children.
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