95 posts tagged with markets.
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Trekonomics

The Economic Lessons of Star Trek's Money-Free Society - "[Manu Saadia] points to technologies like GPS and the internet as models for how we can set ourselves on the path to a Star Trek future. 'If we decide as a society to make more of these crucial things available to all as public goods, we're probably going to be well on our way to improving the condition of everybody on Earth', he says. But he also warns that technology alone won't create a post-scarcity future... 'This is something that has to be dealt with on a political level, and we have to face that.' " (via) [more inside]
posted by kliuless on Jun 21, 2016 - 102 comments

What I Learned from Losing $200 Million

It was 2008, after the Lehman Brothers bankruptcy. Markets were in turmoil. Banks were failing left and right. I worked at a major investment bank, and while I didn’t think the disastrous deal I’d done would cause its collapse, my losses were quickly decimating its commodities profits for the year... [more inside]
posted by triggerfinger on Jan 5, 2016 - 29 comments

Broad Money includes Narrow Money

All of the World’s Money and Markets in One Visualization [more inside]
posted by soelo on Dec 23, 2015 - 14 comments

Philosop-her

At Philosop-her, Meena Krishnamurthy invites women in philosophy to introduce themselves and their work. For example, Elizabeth Barnes, "Confessions of a Bitter Cripple": "I have sat in philosophy seminars where it was asserted that I should be left to die on a desert island ... I have been told that, while it isn't bad for me to exist, it would've been better if my mother could've had a non-disabled child instead ... And these things weren't said as the conclusions of careful, extended argument ... They were the kind of thing you skip over without pause because it's the uncontroversial part of your talk." [more inside]
posted by Wobbuffet on Dec 19, 2015 - 13 comments

Too many ships and/or an obsolete economic indicator?

The Baltic’s BDI index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertilizer, has dropped to 498 points and is over 95 percent down from its all-time high of 11,793 points in 2008 before the financial crisis first hurt the sector. This index can be used as an overall economic indicator as it shows where end prices are heading for items that use the raw materials that are shipped in dry bulk. It’s important to keep in mind, though, that what the index is measuring isn’t the use of those commodities, but the shipping of them. Judging by wait times at the Panama Canal, you'd think things are busy but that traffic jam seems to be easing. [more inside]
posted by karst on Nov 21, 2015 - 23 comments

“finance is a practice oriented industry”

the heretic’s guide to global finance - Brett Scott interviewed by Lewis Bassett. [more inside]
posted by the man of twists and turns on Jan 19, 2015 - 4 comments

Markets in Clinical Trials for the Mega Rich?

If mega-rich people could buy places on clinical trials, would this help drive forward the development of new treatments that could benefit everyone? [more inside]
posted by Another Fine Product From The Nonsense Factory on Oct 27, 2014 - 67 comments

The Social Construction of Money (Wealth/Capital in the 21st Century)*

The political economy of a universal basic income: "your view of what is feasible should not be backwards looking. The normalization of gay marriage and legalization of marijuana seemed utopian and politically impossible until very recently. Yet in fact those developments are happening, and their expansion is almost inevitable given the demographics of ideology... UBI — defined precisely as periodic transfers of identical fixed dollar amounts to all citizens of the polity — is by far the most probable and politically achievable among policies that might effectively address problems of inequality, socioeconomic fragmentation, and economic stagnation." [more inside]
posted by kliuless on Sep 19, 2014 - 62 comments

Utility, welfare, and efficiency

  1. Welfare economics: an introduction
  2. The perils of Potential Pareto
  3. Inequality, production, and technology
  4. Welfare theorems, distribution priority, and market clearing
  5. Normative is performative, not positive

posted by kliuless on Jul 7, 2014 - 7 comments

Microsecond mercenaries

It used to be that when his trading screens showed 10,000 shares of Intel offered at $22 a share, it meant that he could buy 10,000 shares of Intel for $22 a share. He had only to push a button. By the spring of 2007, however, when he pushed the button to complete a trade, the offers would vanish. In his seven years as a trader, he had always been able to look at the screens on his desk and see the stock market. Now the market as it appeared on his screens was an illusion.
In an excerpt/adaption of his new book Flash Boys: A Wall Street Revolt, Michael Lewis follows Brad Katsuyama from uncovering evidence of high-speed electronic front-running to the founding of the IEX exchange intended to discourage it. The Wolf Hunters of Wall Street (SLNYT).
posted by figurant on Mar 31, 2014 - 153 comments

Aggregate Demand Management: "pass a law allowing the Fed to cut checks"

Free Money for Everyone - "A wacky-sounding idea with surprisingly conservative roots may be our best hope for escaping endless, grinding economic stagnation." (via) [more inside]
posted by kliuless on Mar 16, 2014 - 19 comments

Eugene Fama: "I was getting kind of tired of French..."

"... and so I took an economics course and I loved it," during a phone interview in the early morning today. Likewise, conversations with Robert Shiller and Lars Peter Hansen, shortly after the 2013 Sveriges Riksbank Prize in Economic Sciences was awarded jointly to them for their academic contributions to the field of asset pricing. UChicago News, Yale News, New York Times, Wall Street Journal, Washington Post, and Bloomberg report. [more inside]
posted by ilicet on Oct 14, 2013 - 23 comments

Trader Lost Millions Betting on Romney

A new academic paper digging into presidential betting in the final weeks of the 2012 election finds that a single trader lost between $4 million and $7 million placing a flurry of Intrade bets on Mitt Romney—perhaps to make the Republican nominee’s chance of victory appear brighter.
[more inside] posted by Elementary Penguin on Sep 24, 2013 - 104 comments

Fracking After the Boom

Chesapeake, the largest natural gas producer in Pennsylvania, is losing money. The current low price of gas will leave the company around $4 Billion in the red this year. Part of their response is to use a recent state Supreme Court ruling to justify charging landowners for the drilling and transportation expenses involved in extraction, reducing or eliminating all royalties. What was once a windfall to Pennsylvania communities is now becoming a burden, with Chesapeake now retroactively billing landowners for previous expenses. StateImpact Pennsylvania has written and recorded a thorough report on the issue.
posted by Toekneesan on Jun 29, 2013 - 79 comments

Dow tanks briefly after fake AP tweet

The Dow tumbled nearly 150 points this afternoon after a fake tweet about White House explosions was posted from the AP's hacked twitter account. Markets recovered almost completely after the AP clarified that the news was false.
posted by Westringia F. on Apr 23, 2013 - 134 comments

Gold Crash

"Gold's crash this weekend is, as Oprah might say, a teachable moment. Crashes like this are a good way to find out how markets work. It's like a game of financial Clue, a way to keep sharp your skills of deduction. You don't have to be a stock investor or a math whiz to figure it out, either – you just have to have a good grasp of news and human psychology." - the Guardian on this week's crash in gold commodity prices.
posted by Slap*Happy on Apr 18, 2013 - 85 comments

Incommensurable values

Economists and the theory of politics - "why unions were often well worth any deadweight cost" [more inside]
posted by kliuless on Mar 25, 2013 - 27 comments

Fumbled Broadcasting

Which TV markets are condemned to watch the worst American football teams play? SLDeadspin
posted by Renoroc on Jan 9, 2013 - 35 comments

use value vs. exchange value

What Is Value? What Is Money? (via via) [more inside]
posted by kliuless on Sep 1, 2012 - 15 comments

Shooting Morocco

Alfonso Calza created this video from photographs he took of the streets, desert, ocean, mountains, and ruins of Morocco.
posted by gman on Aug 28, 2012 - 5 comments

the dawn of a Star Trek generation

In Praise of Leisure - "Imagine a world in which most people worked only 15 hours a week. They would be paid as much as, or even more than, they now are, because the fruits of their labor would be distributed more evenly across society. Leisure would occupy far more of their waking hours than work. It was exactly this prospect that John Maynard Keynes conjured up in a little essay published in 1930 called 'Economic Possibilities for Our Grandchildren.' Its thesis was simple. As technological progress made possible an increase in the output of goods per hour worked, people would have to work less and less to satisfy their needs, until in the end they would have to work hardly at all... He thought this condition might be reached in about 100 years — that is, by 2030." (via) [more inside]
posted by kliuless on Jun 22, 2012 - 117 comments

How Markets Crowd Out Morals: A Forum On The Corrupting Effects Of Markets

How Markets Crowd Out Morals: A Forum On The Corrupting Effects Of Markets [more inside]
posted by jhandey on May 30, 2012 - 31 comments

The Failure of Judges and the Rise of Regulators

The Control Revolution And Its Discontents - "the long process of algorithmisation over the last 150 years has also, wherever possible, replaced implicit rules/contracts and principal-agent relationships with explicit processes and rules."
posted by kliuless on Feb 23, 2012 - 25 comments

The End of the Free Market?

We're All State Capitalists Now 'No, according to some commentators, the contest between the two Asian superpowers is also fundamentally a contest between economic models: market capitalism vs. state capitalism.' [more inside]
posted by the man of twists and turns on Feb 10, 2012 - 29 comments

A Pareto-optimal Thanksgiving

The most economically efficient use of a turkey is to use it for conceptual art while others starve. Generalized equilibrium theory wishes you a happy and Pareto-optimal Thanksgiving, via Cosma Shalizi.
posted by escabeche on Nov 24, 2011 - 31 comments

Obama nominates Alan Krueger as chairman of the White House Council of Economic Advisers

White House economic policy largely originates with The Council of Economic Advisers, CEA, who directly advise the President of the United States. CEA research and publish the annual Economic Report of the President[ .pdf ], which details the state of the nation's economic health. Today President Barack Obama is expected to nominate Princeton Economist Alan Krueger as chairman of the White House Council of Economic Advisers. Krueger, who previously held the post of Assistant Treasury Secretary for Economic Policy, has written on a wide range of topics, from the economics of rock music [ .pdf ], the causes of terrorism [ .pdf ] and American's changing work / life balance. But Krueger is best known as a labor economist who has extensively researched long term unemployment. [more inside]
posted by Mutant on Aug 29, 2011 - 69 comments

Not what it says on the tin

"Any industry would be proud of an average annual growth rate of 34% over ten years and of a global reach from Austria to Taiwan. But the headlong expansion of exchange-traded funds (ETFs), which by May this year controlled almost $1.5 trillion of assets (not far short of the $2 trillion in hedge funds), has become a matter for concern among financial regulators. Could ETFs be the next source of financial scandal, or even of systemic risk?" Characterizing the Financial sector "like a hyperactive child" that "can never leave a good thing be", The Economist appears to be wishing for the ETFs to be better regulated because "it would be a shame if reckless expansion spoiled a good innovation".
posted by vidur on Jun 26, 2011 - 28 comments

Anger and anxiety

Anger, Politics and the Wisdom of Uncertainty - "If there's somebody or even some institution to blame, it turns out people are much more likely to get angry... anger tends to inspire individuals to engage in more political activities than they would otherwise... Without someone to blame, respondents mostly just grow fearful and anxious... A particular danger of anger seems to be closed-mindedness. Research finds that when citizens get angry, they close themselves off to alternative views and redouble their sense of conviction in their existing views. Fear and anxiety, on the other hand, seem to promote openness to alternative viewpoints and a willingness to compromise." (via) [more inside]
posted by kliuless on May 18, 2011 - 18 comments

Unlocking money in pre-IPO companies

Employed by a startup? Working long hours for little pay but lots of stock options? When your company goes public you can finally realise the value of your options but what if the IPO is delayed or never happens? [more inside]
posted by Mutant on Jan 3, 2011 - 32 comments

Researchers claim Tweets predict The Dow

Invented by Charles Dow in 1896, The Dow Jones Average ("The Dow") is perhaps the most widely known metric of equity market behaviour. Calculated as a price weighted average of thirty stocks, The Dow is generally eschewed by professional investors who prefer the broader S&P 500, a so-called market capitalisation weighted index consisting of 500 stocks. Regardless, proponents of the Dow claim its simplicity, long history and careful design as a reliable proxy of US economic activity as points in its favour. But can they now claim predicability as well? [more inside]
posted by Mutant on Oct 23, 2010 - 19 comments

High frequency trading crop circles

High frequency trading crop circles. Automated trading is flooding stock exchanges with nonsensical orders making odd patterns like The Knife at millisecond scales. Bugs, emergent phenomena, or market jamming strategies? No one seems to know.
posted by Nelson on Aug 7, 2010 - 108 comments

HOW SUPERMODELS ARE LIKE TOXIC ASSETS

There is very little intrinsic value in Coco Rocha's physique that would set her apart from any number of other similarly-built teens. 'When dealing with symbolic goods like “beauty” and “fashionability,” we would be hard pressed to identify objective measures of worth inherent in the good itself.' 'The social world of fashion markets reveals how market actors think collectively to make decisions in the face of uncertainty. And this social side of markets, it turns out, is key to understanding how investors could trade securities backed with “toxic” subprime mortgage assets leading us into the 2009 financial crisis.' 'In 2002, a tall and skinny 14-year old girl competed in a dance contest in Vancouver, Canada. There she encountered a modeling agent, who asked her to consider going out for modeling jobs. Today, the 22-year-old Coco Rocha is celebrated as a “supermodel”'. [more inside]
posted by VikingSword on Jul 16, 2010 - 60 comments

Four Economic Benchmarks We Need Now

With capitalism in crisis, can it be sustained or is it altogether outdated? As Umair Haque asks though, perhaps a better question is: "are organizations and markets making decisions that help make people, communities, and society better off in the long run, by allocating their scarce resources to the most productive uses?" [more inside]
posted by kliuless on Jul 13, 2010 - 15 comments

Be it resolved that financial 'innovation' does not boost economic growth

Basicland vs. Sorrowland
A parable about how one nation came to financial ruin by Charles Munger. For extra colour there's... [more inside]
posted by kliuless on Mar 2, 2010 - 34 comments

The other exit strategy

With quantitative easing on everyone's minds, pundits of all sorts talk about Central Bank exit strategies. But in The Treaty of Lisbon, which came into force across the EU on December 1st, 2009, it turns out European member states have put forward an exit strategy of a completely different kind [.pdf] . [more inside]
posted by Mutant on Jan 20, 2010 - 31 comments

Used for centuries, end of lifed October 31st 2018 - The Cheque

They were first known as "Praescriptiones" and used by The Romans from around 100BC 1. Employed by Perisans of the Sassanid Dynasty during the third century, they were then known as "Saqqs". They have been found in Egyptian ruins dating from the 12th century, about the same time as The Knights Templar bolstered their use by issuing written instruments, redeemable for cash to pilgrims bound for holy land bound. Even so, it took another five centuries for the cheque to be adopted by England. [more inside]
posted by Mutant on Dec 17, 2009 - 43 comments

George Soros on the Way Forward

Soros lectures
You can slog through the video, but I preferred the transcripts 1 | 2 | 3 | 4 | 5 [more inside]
posted by kliuless on Nov 21, 2009 - 13 comments

“He who controls the money supply of a nation controls the nation”: James Garfield

The First Bank of the United States was Americas first attempt at forming a Central Bank. Inaugurated by Congress in 1791, it was followed by The Second Bank of the United States, which was dissolved in 1836.

And then The United States of America was without a Central Bank for 77 years. [more inside]
posted by Mutant on Oct 3, 2009 - 54 comments

High Frequency Trading

High Frequency Trading The Algorithmic Trading animals have been let loose. (via) [more inside]
posted by manny_calavera on Aug 5, 2009 - 39 comments

a new politics of the common good

Markets and Morals -- "without quite realising it, without ever deciding to do so, we drifted from having a market economy to being a market society" -- is the first of the 2009 Reith Lectures delivered by Michael Sandel. (previously) cf. Yglesias on free markets... [more inside]
posted by kliuless on Jun 14, 2009 - 77 comments

it's good to be a banksta

Simon Johnson on Bill Moyers [1] (and, prolifically, making the public media rounds on npr [2]) tackling the bailout of the American Oligarchs, a.k.a. banksters... [more inside]
posted by kliuless on Feb 14, 2009 - 16 comments

All predictions are wrong. Or are they?

Every year the Strategy Team at Saxo Bank, a Danish virtual bank, publishes a list of ten black swan class market events. Some of the more dramatic possibilities Saxo advance for 2009: crude trading down to $25 a barrel causing severe social unrest in Iran, the S&P 500 falling to 500, Chinese GDP approaching zero and several member states dropping the Euro. The complete 2009 list is here and for completeness their 2008 [ .pdf ] , 2007 [ .pdf ] and 2006 lists [ .pdf ] are also available. [more inside]
posted by Mutant on Jan 7, 2009 - 32 comments

Enjoy Risk? Then you may like 300% Leveraged ETFs

Enjoy Risk? Then you may like 300% Leveraged ETFs [more inside]
posted by Rafaelloello on Nov 14, 2008 - 31 comments

Money for nothing: a new era of zero interest rates?

The Fed cut 100 bps. BOE cut 150 bps. ECB cut 50 bps. India, Vietnam, The Czech Republic, Switzerland, Denmark, South Korea and other nations have all cut interest rates in recent weeks, with many Central Banks cutting more than once. The G20 is now discussing the possibility of further, coordinated interest rate cuts. As interest rates globally plummet, we are observing what some analysts are calling "The Race to Zero". [more inside]
posted by Mutant on Nov 12, 2008 - 86 comments

The most obscure but perhaps the most important economic indicator we've got

How best to take the pulse of the global economy? While market driven rates such as LIBOR or US Government T-Bills reveal the state of fixed income and Credit Default Swaps tell the observer much about possible default rates, many analysts prefer a more basal view. The Baltic Dry Index is one such indicator. [more inside]
posted by Mutant on Oct 31, 2008 - 27 comments

In praise of small banks

The nine biggest US banks aren't using $125 billion in federal bailout money to make loans. They're going to use taxpayer dollars to buy other banks. [more inside]
posted by up in the old hotel on Oct 30, 2008 - 80 comments

You don't really own the shares you think you own

All the stocks and bonds you think you own are actually owned by a company you've probably never heard of, a company owned by the same people who own the US Federal Reserve. [more inside]
posted by Mutant on Oct 24, 2008 - 58 comments

Essential Credit Crunch Reading

Afraid to read the daily news? Need some broader perspective on The Credit Crunch? There are lots of different ideas by lots of different authors floating about ... [more inside]
posted by Mutant on Oct 13, 2008 - 34 comments

"...market fundamentalism for the last 25 or so years. And now that world is collapsing... "

Bill Moyers interviews George Soros on the financial crisis. Soros discusses market fundamentalism and the causes of the current crisis, as well as what can be done, and how this meltdown will change the global economy. (via The Big Picture) [more inside]
posted by [expletive deleted] on Oct 11, 2008 - 44 comments

Another potentially huge settlement day for CDS contracts ...

Credit Default Swaps (CDS) are derivative instruments providing the purchaser with protection against default on an underlying financial asset. When Fannie Mae and Freddie Mac technically defaulted on September 7th there was much speculation that the CDS market would collapse as a result of protection being invoked on $1.4 trillion dollars worth of debt. On October 6th these derivative contracts settled, and the CDS market didn't collapse with recovery rates of 92% being observed. Today CDS contracts protecting against the default of Lehman Brothers settle. The problem? Because industry lacks a central clearinghouse for these derivatives, nobody is really sure how many CDS contracts were written either by Lehman or by other banks providing protection against a Lehman default. Next on the list are CDS' covering Washington Mutual, which are due to settle October 23rd.

Meanwhile efforts to create a clearing house continue, as some folks speculate that the settlement of Credit Default Swaps is a major reason why banks are hoarding cash.
posted by Mutant on Oct 10, 2008 - 155 comments

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