Linkfest: Inflation truthers; Fisher: Regs insufficient for stability if Fed blows bubbles; Is Blackrock a SIFI?

Categories: Linkfest

Today’s most shared:

  • The strange world of ‘inflation truthers.’ Confirmation bias and cognitive dissonance can trap the best of us despite efforts to be open to contrary evidence. It’s wise to be wary of those who are wedded to a thesis, or write copy and launch rants for ratings and page views.
  • Demographics are a big factor in labor force participation. If labor force leavers aren’t coming back, the labor market is tighter than it would be if they were a reserve army of unemployed.
  • Fisher: Macroprudential supervision can be circumvented, and the Fed should be more careful about creating bubbles and financial instability.
  • Is the risk posed by failure of large, unleveraged asset managers like Blackrock small, or are bond funds and ETFs the new shadow banks?
  • CNBC conference showcases A-list fund managers.
  • Russian equities drop after new US sanctions.

Inflation Vacation
National Review Online
A lot of people who watched Rick Santelli blow up on CNBC the other day thought the same thing: “That guy needs a vacation — and so do I. The world just doesn’t make sense to him, or maybe me, either.”
shared by @DougKass, @delong, @ObsoleteDogma, @JustinWolfers, @jbarro, @EddyElfenbein
 
White House Economists See Few Labor Force Dropouts Returning
Wall Street Journal
The American labor force, as a share of the overall population, has been shrinking for more than a decade. A detailed new report from the White House Council of Economic Advisers estimates the majority of that decline has been driven by demographics.
shared by @morningmoneyben, @prchovanec, @DavidSchawel
 
Blackrock Doesn’t Need A Scarlet Letter
ProPublica
The S.E.C. has a point on asset managers but it is undermining financial regulation with its public and needless antagonism of the Financial Stability Oversight Council
shared by @anatadmati, @TheStalwart, @counterparties, @JacobWolinsky, @davidgaffen
 
Wall Street Techs Take Secrets to Next Job at Their Peril
Bloomberg
The plan was for Kang Gao to do his exit interview with Two Sigma Investments LLC, a $21 billion quantitative hedge fund in New York, and jump to Citadel LLC, a rival firm in Chicago. Instead, the 29-year-old native of China found himself sitting in a New York City jail.
shared by @ThemisSal, NYT Dealbook, Here Is The City, Crossing Wall Street, @GTCost
 
Gold Dreamers Face Harsh Reality
Bloomberg View
Gold has some value for investors seeking to diversify their holdings, but as a hedge against inflation or economic calamity it’s a poor bet.
shared by @EddyElfenbein, @JohnLothian, @Noahpinion, @gusbaratta
 
UK and Germany push for Russia sanctions
Financial Times
Russian equities dropped as much as 2.6 per cent on Thursday morning after the US placed sanctions on some of the country’s most prominent companies including oil group Rosneft.
shared by @HamzeiAnalytics, @GTCost, @FGoria, @Simon_Nixon, @humenm, @Pawelmorski
 
Obama Widens Sanctions Against Russia
New York Times
The new penalties, targeting a series of large banks and energy and defense firms, go significantly further than the financial and travel limits imposed so far.
shared by @SpiegelPeter, @DougKass, @finansakrobat, @Pawelmorski, @JamesGRickards
 
Documents Show General Motors Kept Silent on Fatal Crashes
New York Times
When asked by federal regulators to explain deadly crashes, G.M. repeatedly said it had no answers — despite having reached internal conclusions on the causes.
shared by Business Insider, @retheauditors, @davidmwessel, @ProPublica
 
Microsoft to cut 18,000 jobs
Business Insider
In a memo to employees, Nadella said the majority of the cuts — 12,500 — would come from newly acquired Nokia. That’s half of the employees who joined Microsoft from Nokia.
shared by @MatinaStevis, @FGoria, @graemewearden
 

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