Elsewhere on Wednesday,
– We, the people, as banks: “We like the elasticity of credit, that allows us to spend today and put off payment to the future. But we don’t like the discipline of money, which is to say ultimate payment.”
– A very good Guardian longread on the 1MDB scandal.
– The relative performance of high yield and crude oil, charted.
– “QE does have some economic effects; it’s just (I’m not ashamed to say) still difficult to discern just what these are.”
– The UK current account as a political and foreign policy issue.
– SWL: “We do not so much need to democratise economics, but to organise it.”
– AEA’ s latest Journal of Econ Perspectives is here.
– Was Brexit worse than Lehman? (No)
– The restated case for more and bigger government.
– Another Guardian long read on the confessions of an Indian policeman who killed/ executed more than a hundred people.
– And, deaths of child workers in India’s mica “ghost” mines covered up to keep industry alive.
– Saudi youth cultured, slidedecked.
– Good news par du jour: “It must be good news that fewer than ever executives with good intellects and decent values want to sell their souls for the glistening salary packages at big tobacco – and that those who work for big tobacco know their own employers worry that they are second-rate.”
– The rich ALSO get a better class of co-habitant arthropod. When will this unfairness end?
– Trump campaign ponders going negative.
– Further, further reading.