Why nursing shortages exist; McKinsey and the presidential candidate; Eau d’Captain Birdseye; plus much, much more...
A new working paper explores the effects of government spending, via defence R&D, on the private sector.
“Oh my god: the central banks will corner the entire equity market! Unless something (like actual growth) stops them.”
Today in the ‘we knew this half a decade ago’ files.
Germany is nowhere near as exposed as Spain was to a crash in house prices.
Taxing billionaires; Is Elon preparing for state failure?; When Chinese spies defect; plus much, much more...
In some ways, yes. In others, no.
“Inflation charts look as if they’re about to explode.”
Or when theories of money collide with trendy digital fads.
Child labour forces as the new schools; A Shanghai GPS mystery; Google’s totally creepy medical harvesting; plus much, much more..
Toby Nangle and Neville Hill propose a shift from procyclical to counter-cyclical fiscal rules.
German minister softens opposition to eurozone-wide deposit insurance, but Italy will worry about impact on banks and its own books
George Akerlof on how Keynesians neglected markets to win one of the crucial ideological battles of the mid-20th century.
Apple edges into public policy.
Elsewhere on Monday,
David Marcus of Libra fame likes to argue payments should be as cheap and easy to execute as WhatsApp calls.
A proposal for the stricken South American country.
Story-telling animals; Is private equity lost? Why people hate vegans; plus much, much more...
Where is the money going?
Short answer: no.
Merv loses his nerve.
Monetary policymakers need to spell out why they don’t pay more attention to asset prices, such as housing.
And why stablecoins are less than revolutionary on many fronts.
Central bankers’ theories have in practice fallen short. That has left them vulnerable to attacks.
Libra defections; what was behind Japan’s comparative advantage loss; when a cartoon show defends democracy; plus much, much more...
The story behind how the scramble for intraday liquidity helped to create US tri-party repo and a shadow central banking system.
It’s a $1.7tn figure with a generous splattering of Tencent.
How China might (emphasis on ‘might’) respond to capital controls.
Wikipedia clashes; a drug to solve the opioid crisis; worrying about the repo market; plus much more...
All served up with a sprinkling of magical blockchain dust, naturally.
