News: 2014-03-19

News links for 19 Mar 2014

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Europe

Leterme: ‘In Nederland werkt vrouw te veel parttime’ – De Standaard

In the Netherlands, 76.9% of women who work do so part time. Is this “truly a free choice” asks the OECD secretary general.

Exportações portuguesas cresceram 5% em 2013 – Economia – DN

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Exports out of Portugal grew by 5% in 2013. Imports grew only 1% during that time

El coste laboral sube un 2,1% en el cuarto trimestre, su mayor repunte en cuatro años

Labor costs in Spain rose at the fastest pace in four years in Q4 2013 at a 2.1% rate

France bans Monsanto GM maize ahead of sowing season | Reuters

ekathimerini.com | Greek yields tumble as Athens clinches bailout review deal

 

Central banks – Money

Adair Turner says that some central banks, particularly Japan’s, will never shrink their balance sheets.

The truth is out: money is just an IOU, and the banks are rolling in it | David Graeber | Comment is free | theguardian.com

That Train Left the Station – Tim Duy’s Fed Watch

Philip Pilkington: Thinking Makes It So – The IMF Bailout of the UK in 1976 and the Rise of Monetarism | naked capitalism

The Legacy of Milton Friedman, Scott Sumner | EconLog | Library of Economics and Liberty

 

Ukraine

Crisis in Ukraine: German Firms Lose Sway Over Relations With Moscow – WSJ.com

Firtash Stays in Custody as $174 Million Bail Is Set

Ron Paul: Crimea secedes. So what?

Russia’s Putin Signs Treaty to Annex Crimea – WSJ.com

The annexation of Crimea is starting to feel a bit like the Anschluss of Austria by Hitler. I hesitate to make the comparison but the rhetoric from Putin’s speech sounds like the Lebensraum stuff we heard then.

How Europe is turning to North America to wean itself off Russian energy exports

Market rally on Russia’s annexation of Crimea leaves experts shaking their heads – Telegraph

Pro-Ukrainians in Crimea left to fend for themselves | beyondbrics

“The stronger Russia’s grip on Crimea becomes, the more support is needed for pro-Ukrainian residents and military personnel there. However, the past weeks have demonstrated that government officials in Kiev are failing to provide such support and the burden has fallen to self-organized groups of volunteers.”

The cost of escalating sanctions on Russia over Ukraine and Crimea | Georg Zachmann at Bruegel.org

PM statement on President Putin’s actions on Crimea – News stories – GOV.UK

Russian roulette | Silvia Merler at Bruegel.org

“BIS data for September 2013 shows reporting European banks had claims in the amount of $156 billion in Russia, against less than $40 billion of the US (Figure 1). Within the EU, France is certainly the most exposed, at $51 billion (see Figure 3). Italy comes second with $28.6 billion, followed by Germany at $23.7 billion, the UK at $19 billion, the Netherlands at $17.6 billion and Sweden at about $14 billions. “

 

Markets

In a tech bubble with a twist, the big danger is bonds – FT.com

3 reasons to tap home equity to buy stocks- MSN Money

This could be prima facie evidence of a bubble

Inquiry Into High-Speed Trading Widens – NYTimes.com

 

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Technology

The Facebook experiment has failed. Let’s go back. — Medium

Selectively Lock Android Apps In Multiple Ways With Lockdown Pro

After @N hijack, software engineer starts two-factor authentication directory | Ars Technica

Can Sonos Become Google for the Music You Love? – WSJ.com

Tesla versus the Rent Seekers

Washington Post widens access to its digital content – FT.com

Hating on 538 | PRAGMATIC CAPITALISM

“the “corporate cash” narrative over the last 5 years is an anti-business one which claims that businesses are making gobs of money, but they’re not spending it. But you could spin this narrative however you wanted to.”

Sergeant Friday Was Not A Fox – NYTimes.com

“The new FiveThirtyEight is up, and Tyler Cowen is not impressed. I’m sorry to say that I had the same reaction. Here’s hoping that Nate Silver and company up their game, soon.”

Google Announces Android Wear, its Plan for the Smart Watch and Beyond

Motorola Introduces The Moto 360, Its First Smartwatch Based On Google’s Android Wear | TechCrunch

Inside Facebook’s Efforts To Fortify Security In A Post-Snowden World | TechCrunch

The Price of Music

Remarks From Under Secretary of Terrorism and Financial Intelligence David S. Cohen on “Addressing the Illicit Finance Risks of Virtual Currency”

Much of the attention on the misuse of virtual currencies has focused on how criminals – from drug dealers to illegal weapons traffickers to computer hackers – have used virtual currencies for online trade in illicit goods and services. That attention is certainly well-deserved. But less attention has been given to the potential national security risks posed by virtual currencies.

NSA surveillance program reaches ‘into the past’ to retrieve, replay phone calls – The Washington Post

“The National Security Agency has built a surveillance system capable of recording “100 percent” of a foreign country’s telephone calls, enabling the agency to rewind and review conversations as long as a month after they take place, according to people with direct knowledge of the effort and documents supplied by former contractor Edward Snowden.”

 

North America

Flaherty Resigns: Some Reaction – Canada Real Time – WSJ

Canadian retailers set for meagre sales growth amid competition from U.S. players: Moody’s

Winter took a bite out of retail sales | Toronto Star

Ontario Debt Looks Much Worse than California’s – At First Glance – Canada Real Time – WSJ

Just 83,000 Homeowners Get First-Lien Principal Reductions from National Mortgage Settlement, 90 Percent Less Than Promised | naked capitalism

Escaping ‘Secular Stagnation’ – Barry Eichengreen

“If the United States experiences secular stagnation, the condition will be self-inflicted. It will reflect the country’s failure to address its infrastructure, education and training needs and to take steps to repair the damage caused by the Great Recession”

U.S. CEOs Expect Slow Economic Growth, Scant Hiring – Real Time Economics – WSJ

 

Japan

Japan’s trade deficit shrinks as exports rise 9.8pc | South China Morning Post

 

China

Yuan starts direct trading with NZ dollar | South China Morning Post

 

Elsewhere

Trying To Achieve Happiness? Turns Out, How You Attain It Depends On Your Age | Fast Company | Business Innovation

 

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