The Economic Risks of Climate Change in the United States
); press coverage
) - "The signature effects of human-induced climate change
—rising seas, increased damage from storm surge, more frequent bouts
of extreme heat—all have specific, measurable impacts on our nation's current assets and ongoing economic activity. [The report] uses a standard risk-assessment approach to determine the range of potential consequences
for each region of the U.S.—as well as for selected sectors of the economy—if we continue on our current path..." [more inside]
How The Economic Machine Works by Ray Dalio
 actually makes a case against austerity
 and for redistribution, but also for money printing
(and, arguably, for bailouts), while stressing the need to keep making productivity-improving public
investments. However, it could be equally entitled: How The Industrial Age Political-Economy Doesn't Work Anymore
, viz. Surviving Progress (2011)
... [more inside]
Economists and the theory of politics
- "why unions were often well worth any deadweight cost" [more inside]
Bringing Down Bear Stearns,
from Vanity Fair's August issue.
This might be the only time in your life you get to hear this because the finance industry survives soley on large-scale ignorance, so listen very closely.
There is NO housing bubble in the US.
NEVER invest in actively managed funds.
Financial lamers do better than financial jocks (and almost everyone else).
Sadly however most of you won't have the mathematical knowledge
to differentiate the advice
backed by several Nobel laureates and world-renowned academics
from the "advice" of any of the thousands of horny little evangelists spruking their financial "theories" for profit or fame.
Worse Than the World Bank? Export Credit Agencies--The Secret Engine of Globalization
The amount of investment that export credit agencies (ECA) support worldwide is significantly greater than the total amount of lending from the World Bank, IMF and all other multilateral institutions combined. ECA's account for the single biggest component of developing country debt
and half of all new greenhouse gas-emitting industrial projects in developing countries have some sort of ECA support
Investments in places like Guatemala
, South Africa
, Chile [PDF]
, have had unacceptable social
Administered or backed by a government
, an ECA uses taxpayer money to make it cheaper and less risky for domestic corporations to export or invest overseas.
ECAs privatize the profit and socialize the risk while negatively impacting indigenous cultures and enironments
, all with little or no governmental oversight or public awareness of the matter.
So what can we do about it? [PDF]
Big Business As Usual.
"In announcing their record settlement with 10 Wall Street firms
accused of misleading investors with bogus recommendations, [the Securities and Exchange Commission] also released new e-mail records showing stock experts chortling about how they were making out like bandits at the expense of the average investor", and revealed troubling insights into the way Wall Street really works:
"Merrill Lynch initiated coverage of LFMN on September 28, 2000 with a 2-1 [10-20% appreciation forecast short term, 20% appreciation forecast long term], when LFMN traded at $22.69. At that time, Merrill Lynch was pursuing an investment banking relationship with LFMN.
After Merrill Lynch initiated research coverage, LFMN's price declined to the....$3-5 range in December. On December 4, 2000, Blodget e-mailed a fellow analyst,'LFMN at $4. I can't believe what a POS [piece of shit] that thing is. Shame on me/us for giving them any benefit of doubt.' Merrill Lynch's research report on LFMN dated December 21, 2000, [reiterates] a 2-1 rating..."
And the "record settlement" with these common swindlers in three piece business suits from our brave SEC? For Wall Street, Fines Are A Day's Pay.