The Traders Crucible

• Freigeld – Wikipedia, the free encyclopedia

  Yes, yes, yes. I’ve spent a hundred hours thinking abou this. And now I have a name for it

• The Republican Party believes that women are trying to defraud the government. – Slate Magazine

• FT Alphaville » The era of the ‘negative money multiplier’ – Part 1

  I should call this Money and money-like assets, Part III. This is great stuff for repo nerds. Part II is the link below. 

• FT Alphaville » The era of the ‘negative money multiplier’ – Part 2

• Another Debt Ceiling Crisis Would Be Even More Terrifying Than The Last One – Business Insider

  Who was talking about this a month ago? Monetary Realism! We’re glad to break tomorrow’s news today.  Expect the Trillion Dollar Coin to be on the cover of Newsweek come August…

• FT Alphaville » Why China’s RMB exodus IS the story

• Clinton: Republicans too Scared to Compromise

Posted from Diigo. The rest of my favorite links are here.

• cinnamon toast french toast + book preview | smitten kitchen

  Should MMR be a food blog too?

• 250th anniversary of the sandwich – Boing Boing

  Of course, there is only one article which does this justice: http://www.theonion.com/articles/it-is-my-hope-that-i-will-be-remembered-as-a-great,10896/

• Wild Elephants gather inexplicably, mourn death of “Elephant Whisperer” | Delight Makers

  Is this even possible?

• Can You Call a 9-Year-Old a Psychopath? – NYTimes.com

  Yes.

• They will be..Incredulous and Horrified

• “Let them Recycle”: A Thoughtful JG Plan

• Did Paul Krugman Really just endorse MMR?

Posted from Diigo. The rest of my favorite links are here.

• Chesapeake’s Weird Bonds: Borrow $$$, Pay Natural Gas Interest

  Chris Cook believes the Saudis are doing the same thing with oil

• Does Modern Finance Require “Hulk Smash” Regulation?

• Scumbag Facebook Co-Founder Saverin Flips the Bird to the People who made him $2.3 Billion

Posted from Diigo. The rest of my favorite links are here.

• The Long Decline of The London Economist | Ron Unz – Writings and Perspectives

  Ron Unz is…worth reading. 

  tags: interesting Unz economics Pravda

• "When Half a Million Americans Died and Nobody Noticed" | Ron Unz – Writings and Perspectives

  This is astounding. I don’t even know what to say about it.

• Bond-CDS Negative Basis or How to Lose a Billion Dollars on a Trade « A Credit Trader

• Quote of the Day: The Rich Should Favor Stimulus | Mother Jones

  I’m getting quoted all over!

• Dramatic Appreciation Of Gold Is Limiting It’s Upside – Business Insider

• TheMoneyIllusion » It’s not about credit, it’s about NGDP

  ;/

• Marin Katusa vs. Porter Stansberry on Oil Prices

  Oil prices at $40?

• Greeks May Hold $510 Billion Trump Card in Renegotiation – Bloomberg

Posted from Diigo. The rest of my favorite links are here.

• The Modern Monetary Theory Trader: Fed lending to the Treasury?

  Must read article: "Congress should consider providing the Federal Reserve the explicit authority to lend directly to Treasury as a last resort when other options are not viable during a wide-scale disruption. Developing a direct draw authority would require careful consideration and determination of design features and any other requirements to support Treasury’s need for an effective funding source, the Federal Reserve’s independence, and congressional oversight and accountability concerns. An approach that appears promising would be to require that both the Secretary of the Treasury and Chairman of the Federal Reserve approve any draw and agree on specific amounts and duration at the time of any draw. This might balance independence and accountability concerns with the need for sufficiently prompt action and flexibility." http://www.gao.gov/new.items/d061007.pdf

• The Inflation’s in the Poverty | Gregor.us

• You Hate Taxes, but You’re Not Moving to Nashville – Bloomberg

• Greek Elections Force Germany to Weigh Austerity Endgame – Bloomberg

• Robotic Freedom, by Marshall Brain

• Welcoming Our Computer Overlords to High School | Mother Jones

• Richard H. Serlin: Perhaps the Biggest Libertarian Bias in Economics

• Fred Wilson And The Death Of Venture Capital – Forbes

  This amount of money is only too small if we have no middle class. $30bn a year?  VC beating the market is another, related story. 

• Moneybox

  Yglesias *hearts* MMR. Perhaps we all should let him know

• Bank of America Offers Principal Reductions to 200,000 Homeowners – CNBC

• Robert Reich (The Answer Isn’t Socialism; It’s Capitalism that Better Spreads the Benefits of the Productivity Revolution)

  The MMR/MMT debate is related to this. 

• Bank adequacy: weight and see – FT.com

Posted from Diigo. The rest of my favorite links are here.

• The Agony Of American Infrastructure Deployment

• Cleveland Fed Estimates of Inflation Expectations :: Federal Reserve Bank of Cleveland

  Inflation expectations at an all time low. 

• The Oil Drum | After The Gold Rush: A Perspective on Future U.S. Natural Gas Supply and Price

  Don’t you just see a buy, buy, buy on drillers?

• Econbrowser: The War on Data Collection

  ] have always had to fight for more funding. Now they may have to fight just to keep their budgets intact. As part of $19 billion in nondefense discretionary cuts in Paul Ryan’s (R-Wis.) budget—recently passed by the House of Representatives—the agencies

• FT Alphaville » One giant leap for America’s credit cards

  It’s all the QE. It’s all taking effect at the same time. 

• How much education did the greatest creative geniuses of all time need? – Barking up the wrong tree

• Central Bank reserve creation in the era of negative money multipliers | vox – Research-based policy analysis and commentary from leading economists

  At least one guy at the IMF accepts MMT/MMR thinking on QE as being an asset swap.

• Balloon Juice » Blog Archive » every other pundit’s fallacy

  Nations are not people. Socioeconomic platforms have nothing to do with “adulthood.” And the scrimp-and-save behavior that people think should be rewarded with economic growth is in fact rewarded with horrible stagnation and failure.

• Born In The U.S.A. – MMT And Monetary Sovereignty

  here admits that the irrelevance proposition that any State “can run budget deficits that help to fuel current account deficits without worry about government or national insolvency” applies indeed only to the US: “precisely because the rest of the world wants Dollars. But surely that cannot be true of any other nation. Today, the US Dollar is the international reserve currency—making the US special. … the two main reasons why the US can run persistent current account deficits are:

• Economists, Liquidity Mongers and the Banker Assault on Financial Reform « naked capitalism

• Saudi Arabia to Send More Crude Oil Supertankers to the US | gCaptain – Maritime & Offshore

• Rajan on Lessons from Recession « Modeled Behavior

• The Monetary Economics Of Sovereign Government Rating

  So in the case of Japan, while the government is a huge debtor, the nation as a whole is a creditor, whereas in the case of Australia, it is the opposite. So the rating agencies get it wrong or opposite!

• Australian House Prices down 10% from Peak | Steve Keen’s Debtwatch

• Bond Market Is Creating a New Galaxy for Trading – WSJ.com

• U.S. Considers Notes That Float – WSJ.com

Posted from Diigo. The rest of my favorite links are here.

• ETH – Entrepreneurial Risks – The Financial Crisis: How Much Longer and Deeper?

  tags: financial crisis

• 26 Sexy Halloween Costumes That Shouldn’t Exist | Cracked.com

  Nothing says sexy like Big Bird’s shrunken, disembodied head casually eating the skull of a delusional 80s pop star who’s checking her shoe for dog turds.

  tags: halloween costumes

• 6 Disturbing Unanswered Questions from Children’s Movies | Cracked.com

  See what I mean?

• 5 Ways to Spot a B.S. Political Story in Under 10 Seconds | Cracked.com

  The best headlines in the biz.

• MMP Blog 48: IS THE JOB GUARANTEE NECESSARY? | | New Economic PerspectivesNew Economic Perspectives

  Gloat, Gloat, Gloat. Ok Done Gloating – work to do.

  tags: MMT MMR fun

• Dog Meets Wolf – YouTube

  tags: dogs fun

• Productivity, The Miracle of Compound Interest, and Poverty | | New Economic PerspectivesNew Economic Perspectives

  Suppose you were alive back in 1945 and were told about all the new technology that would be invented between then and now: the computers and internet, mobile phones and other consumer electronics, faster and cheaper air travel, super trains and even outer space exploration, higher gas mileage on the ground, plastics, medical breakthroughs and science in general. You would have imagined what nearly all futurists expected: that we would be living in a life of leisure society by this time. Rising productivity would raise wages and living standards, enabling people to work shorter hours under more relaxed and less pressured workplace conditions. Why hasn’t this occurred in recent years? In light of the enormous productivity gains since the end of World War II – and especially since 1980 – why isn’t everyone rich and enjoying the leisure economy that was promised? If the 99% is not getting the fruits of higher productivity, who is? Where has it gone?

• Trickle Up Economics | No One to Own Them…

  I review this idea because we have a growing and dangerous irony now in our country.  So many corporations and no one that actually own’s them.  It is ironic because we certainly have built corporate law in terms of ownership.  The shareholders pay a price to own these corporations.  But as we look at different classes of shareholders and then ask ourselves,  do they have the owners motive?  We will find out that there is nobody left that truly “owns” our corporations. 

• First Post: Defending Bureaucracy, Metrics, and Process Monkeys « Windy Katabasis

• Windy Katabasis

  Looks like a pretty cool blog already

• The Fair Price | windyanabasis

• Stumbling and Mumbling: Some doubts about NGDP targets

  Problems with NGDP level targets are…real problems

• How to Get a Bigger Keynesian Multiplier – Megan McArdle – Business – The Atlantic

  One way to get all 3 would be to follow Martin Shubik’s plan: An independent agency that plans for ways to spend money next time there’s a recession.

Posted from Diigo. The rest of my favorite links are here.