Bloomberg (September 9)
The Federal Reserve is taking a tougher regulatory stance and will require large, systemically important banks to increase their capital. “Given the incentives big banks face, only regulators can ensure they operate with enough capital for their own good — and for the good of society. The Fed still has a long way to go, but at least it’s headed in the right direction.”
Tags: Banks, Capital, Fed, Incentives, Regulators, Society
Washington Post (September 8)
The Islamic State has already “seized far more of Iraq and Syria than is compatible with the safety and human rights of the people living there, and its sights are set on further destabilization in Jordan, Saudi Arabia and Kurdistan, as well as terror attacks in Europe and, if it’s capable of them, the United States.” It is delusional to think this “murderous terrorist army” can simply be “contained” or “managed.”
Tags: Contained, Destabilization, Europe, Human rights, Iraq, Islamic State, Jordan, Kurdistan, Managed, Safety, Saudi Arabia, Syria, Terror attacks, Terrorist army, U.S.
The New York Times (September 7)
“The widening epidemic of Ebola in West Africa looks worse with each passing day. The outbreaks…have outstripped the ability of humanitarian groups and fragile government health systems to treat the sick and slow the spread.”
Tags: Ebola, Epidemic, Government, Health systems, Humanitarian, Outbreaks, Outstripped, Sick, Spread, West Africa
The Economist (September 6)
“Connected cars will make driving safer, cleaner and more efficient. Their introduction should be speeded up.”
Tags: Clean, Connected cars, Driving, Efficient, Safe
Wall Street Journal (September 5)
“You can’t say Mario Draghi isn’t doing his part.” Trying to deliver another economic “miracle,” the European Central Bank (ECB) President lowered interest rates and increased the negative rate institutions pay on funds deposited with the ECB. “Too bad the politicians keep using Mr. Draghi as an excuse to dodge their responsibility to pass pro-growth reforms…. Europe’s main economic problem is a political class that doesn’t want to address the structural impediments to growth that have nothing to do with monetary policy.”
Tags: ECB, Europe, Excuse, Growth reforms, Interest rates, Mario Draghi, Monetary policy, Politicians, Responsibility, Structural impediments
Institutional Investor (September 3)
“We have lived for some time in an integrated global economy mirrored by a globalized financial system. This means that the credit cycle and the business cycle have become almost one and the same.”
New York Times (September 2)
“More than anyone, President Vladimir Putin of Russia has set the agenda for NATO’s 65th summit meeting this week, which could well be the most consequential since the Cold War ended.” Ironically, his antics may serve to strengthen NATO. He “has forced on it a new and urgent purpose by effectively invading Ukraine and demonstrating his utter disregard for the international system.”
Bloomberg (September 2)
“Japan’s lowest auto sales in three years are reviving concerns that manufacturing will hollow out in Asia’s second-largest economy.” This could deliver a blow to Prime Minister Abe’s “efforts to revive the economy, which last quarter contracted the most since the 2011 earthquake and tsunami.”
Tags: Abe, Asia, Auto sales, Contraction, Earthquake, Economy, Japan, Manufacturing, Tsunami
Los Angeles Times (September 1)
“An increase in the minimum wage would not only be good for low-wage workers. It would also be good for the city, good for the economy and, in the long term, good for business. It is, simply put, the right thing to do.” September 1 marks Labor Day in the U.S. where the federal minimum wage is $7.25 per hour. Some states and cities adopt higher minimums as Mayor Eric Garcetti has proposed for Los Angeles, where 28% of the population lives below the poverty level. If the proposal passes, L.A.’s new minimum of $13.25 would still be lower than Seattle’s, which is set to rise to $15.
Tags: Business, Economy, Eric Garcetti, Labor Day, Los Angeles, Minimum wage, Poverty level, Seattle, U.S., Workers
Financial Times (August 31)
“The story of Abenomics is far from over–but the typical Japanese household could be forgiven for thinking that all the Bank of Japan had achieved, in pushing down the currency and importing inflation, was another hit to household living standards. Japanese real wages have been falling for most of this year.”
Tags: Abenomics, BOJ, Currency, Household, Inflation, Japan, Living standards, Real wages
