Linkfest: Euro crisis, financial crisis revisited; The tech bubble vs. the housing bubble

Categories: Linkfest

Today’s most shared:

  • A narrative of the euro zone’s near implosion. How nearly everyone told Angela Merkel to do what Draghi eventually did, and she said it was politically impossible.
  • Geithner’s memoirs answer, raise questions about the financial crisis.
  • The tech bubble vs. the housing bubble. Housing collapse hit middle and lower classes’ consumption more than tech investors’, but one shouldn’t overlook financial system’s near-collapse, the hit to confidence, and everyone’s simultaneous rush to deleverage.
  • In Fannie bets, are titans betting on justice being done, or on ability to subvert the political process and extract a bailout after an investment in a spectacularly failed enterprise?
  • China looks for ‘New Normal.’
  • Correlation is not causation.

‘It was the point where the eurozone could have exploded’
Financial Times
To the astonishment of almost everyone in the room, Angela Merkel began to cry. “Das ist nicht fair.” That is not fair, the German chancellor said angrily, tears welling in her eyes. “Ich bringe mich nicht selbst um.” I am not going to commit suicide.
shared by @mark_dow, @SonyKapoor, @NickMalkoutzis, @spignal, @BCAppelbaum
 
The Man Who Knew Too Little—James Freeman on Geithner
Wall Street Journal
James Freeman reviews "Stress Test: Reflections on Financial Crises" by Timothy F. Geithner
shared by reddit/Economics, @nasiripour, @mccarthyryanj, @M_C_Klein
 
Why the Housing Bubble Tanked the Economy And the Tech Bubble Didn’t
fivethirtyeight.com
In 2000, the dot-com bubble burst, destroying $6.2 trillion in household wealth over the next two years. Five years later, the housing market crashed, and from 2007 to 2009, the value of real estate owned by U.S. households fell by nearly the same amount — $6 trillion.
shared by @TheStalwart, @M_C_Klein, @NickTimiraos, reddit/Economics, @TimHarford, @moorehn
 
Hedge fund titans are testing the quality of US democracy
Financial Times
John Paulson made his fortune by taking a massive short position against the US housing bubble. Today the hedge fund billionaire is betting that the US political system will fail.
shared by NYT Dealbook, @Nemo_incognito, Naked Capitalism, @FGoria
 
Xi Says China Must Adapt to ‘New Normal’ of Slower Growth
Bloomberg
Chinese President Xi Jinping said the nation needs to adapt to a “new normal” in the pace of economic growth and remain “cool-minded” amid a slowdown that analysts forecast will lead to the weakest expansion since 1990.
shared by @mark_dow, @Convertbond, @peter_tl, Naked Capitalism, @pdacosta
 
Just How Dumb Are Investors?
Wall Street Journal
Investors may not be as stupid as some researchers think, but they still need to fight their own fear and greed.
shared by @JacobWolinsky, @MichaelKitces, @MattGoldstein26
 
20 Insane Things That Correlate With Each Other
tylervigen.com
Why do these things correlate? These 20 correlations will blow your mind.
shared by @LaurenLaCapra, @ModeledBehavior, reddit/Economics
 

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