Wall Street Journal (February 17, 2012)
Basketball guard Jeremy Lin is capturing the hearts of NBA fans as he revives the hopes of the New York Knicks. He also provides a policy lesson. Originally from Taiwan, Lin’s parents immigrated to the U.S. in the 1970s. “The policy lesson is that America wins when it welcomes talented people, whether or not they start semiconductor companies.”
Tags: Immigration, Jeremy Lin, Knicks, NBA, Taiwan, U.S.
Institutional Investor (February 14, 2012)
With “engines running at speeds faster than the eye can see,” a constant arms race is taking place in “the high-tech machinery of modern financial markets.” The Singapore Exchange (SGX) illustrates this race. SGX utilizes technology solutions from Nasdaq OMX with the goal of running “the fastest bourse in the world, with transaction speeds well under 100 microseconds.”With “engines running at speeds faster than the eye can see,” a constant arms race is taking place in “the high-tech machinery of modern financial markets.” The Singapore Exchange (SGX) illustrates this race. SGX utilizes technology solutions from Nasdaq OMX with the goal of running “the fastest bourse in the world, with transaction speeds well under 100 microseconds.”
Tags: Exchanges, Financial markets, SGX, Transaction speed
Wall Street Journal (February 14, 2012)
“Athens has agreed to carve €3.3 billion out of this year’s budget (including €300 million out of pensions), slash the minimum wage by 22%, and eliminate 150,000 government jobs by 2015.” This will not put out the fires and rioting. The Greek crisis will continue. “The larger question is whether the rest of Europe and America will learn from Greece’s chaos before they experience the same fate.”
New York Times (February 13, 2012)
“The president’s budget calls for long-term deficit reduction, but its immediate priority is to encourage the fledgling economic recovery. Instead of trying to stabilize the budget on the backs of the poor, it would raise taxes on the wealthy and on big banks and eliminate many corporate tax loopholes.” Congress should pass this budget. Alas, Congress is “dysfunctional.” “The proposal will go nowhere, largely because of the Republican refusal to raise taxes on the wealthy and to spend money on vital programs.”
Forbes (February 12, 2012)
U.S. utilities are rushing to close coal-fired plants, especially less efficient plants that are over 40 years old. “Coal now provides about half of this country’s electric generation. But the energy picture is changing with the pending environmental rules and the newfound wealth of inexpensive shale gas.” In 25 years, coal’s share could be halved and natural gas could account for about 40% of electricity needs.
Tags: Coal, Electricity, Environment, Gas, U.S.
Globe and Mail (February 11, 2012)Globe and Mail (February 11, 2012)
Canada may soon need to “join most other Western countries in raising its pension age to 67.” This will cause much debate, but Canada is actually “late entering this argument: Europeans have been having it for a decade.” Across the globe, demographics are being transformed as people live longer and choose smaller families. Were it not for immigration, Canada would have faced the pension age debate earlier.Canada may soon need to “join most other Western countries in raising its pension age to 67.” This will cause much debate, but Canada is actually “late entering this argument: Europeans have been having it for a decade.” Across the globe, demographics are being transformed as people live longer and choose smaller families. Were it not for immigration, Canada would have faced the pension age debate earlier.
Tags: Aging, Canada, Family size, Immigration, Pensions
Athens News (February 11, 2012)
“Sacrificed at the altar of continued eurozone membership, Greece’s youth are paying the highest price for the politicians’ inability to implement virtually any of the reforms stipulated in the first bailout memorandum….Greece is better off in the euro than with the drachma, whatever the arguments to the contrary. But it will not be long before people in their twenties and early thirties say that enough is enough.”
Tags: Drachma, eurozone, Greece, Politicians, Youth
Economist (February 11, 2012)
“A new self-assurance has spread through financial markets.” Is this simply the calm before the storm? The U.S. economy is firming, the ECB has eased some worries and there are other positive signs. Yet, the European sovereign debt crisis could still implode and a number of other factors, such as Iran, could wreak havoc with the global economy. “Signs of recovery have multiplied, but the West’s economies are not yet out of danger.” it is too early for celebration.
New York Times (February 9, 2012)
The “Greek Tragedy” continues to unfold. “By forcing all Greeks to suffer with no real prospects of relief, Europe is uniting the country, now beset by strikes, against further reforms.” Unfortunately, Greece has little choice. “It cannot survive without Europe’s money, even if it chokes on Europe’s conditions.”
Bloomberg (February 8, 2012)
Larry Fink, the CEO of the world’s largest asset manager, BlackRock Inc. (BLK), has provocative advice for investors. He’s bullish on the economic outlook and urges investors to take advantage of ultra-low equity valuations. According to Bloomberg, Fink believes “investors should have 100 percent of investments in equities because of valuations and higher returns than bonds.”
Tags: BlackRock, Bonds, Bullish, Equities, Larry Fink, Outlook, Valuations
