FURTHER FURTHER READING
- A few words about math.
- US median income is still 6 per cent below its 2007 peak.
- "Once you cut through the free market (or anti-market rhetoric), the Austrian theory is not as different from Minsky's as it sounds at first. And both sides hate it when you say this."
- Asia's debt conundrum awakens the ghosts of 1990s crisis.
- The Morgenthau Plan and the Marshall Plan.
- On "bullshit" jobs.
ROUND-UP
Fed minutes show broad support for tapering this year: "Federal Reserve officials vigorously debated changing the trigger for eventual increases in interest rates, a move that would reassure markets about the pace of its forthcoming exit from ultra-loose monetary policy. According to the minutes of its last rate-setting meeting released on Wednesday, Fed officials discussed lowering the unemployment threshold, now set at 6.5 per cent, for the first increase in rates. With US unemployment at 7.4 per cent, a change in the threshold would reassure investors that the Fed will not move to raise rates any time soon."
SEC scrutinises Goldman's trading failure: "US regulators and enforcement officials are scrutinising the systems malfunction at Goldman Sachs as part of a broad response to the latest high-profile trading failure to damage investor confidence, say people familiar with the matter. The Securities and Exchange Commission's involvement comes as leading US exchanges, including those run by NYSE Euronext, worked through the night to determine whether to cancel, adjust or break erroneous trades that could end up costing Goldman tens of millions of dollars."
Cheaper rivals eat into Apple's China tablet share: "Apple's share of the fiercely competitive Chinese tablet market has almost halved in the past year, as cheaper devices using Google's Android platform rapidly overtake the iPad. The California-based company shipped 1.48m iPads in China in the second quarter, accounting for 28 per cent of tablets – a sharp drop on the 49 per cent market share it recorded a year ago, according to research company IDC."
