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Five History Books That Are Perfect for Reading on the 4th of July

bloomberg.com — Reading history is hard. There is no math, and there are sometimes even pictures, so it's supposed to be a cakewalk. But it's not. My one guess about the problem is you finish one or two killer books and you begin to realize how dumb you are. History is daunting.

It's Twilight in America. Make Babies.

bloomberg.com — If our models are correct in forecasting growth in labor force and in labor productivity ... the U3 unemployment rate should continue to fall rapidly towards 4.00% over the coming three years. - John Herrmann, "A Trajectory for the Economy's Potential," Mitsubishi UFJ Securitites, June 24, 2015 John Herrmann is in good company.

Why Who's Moving The Feta Cheese Matters to Greece

bloomberg.com — On the one hand, Greece seems to have a strong case for the protection of feta cheese. On the other hand, this decision will certainly have a negative impact on other European nations like Denmark and Germany. It is unlikely that such a decision will help to further European understanding and cooperation, and it will probably increase tension.

What Would a Greek Drachma Look Like? Painful.

bloomberg.com — When it comes to Greece, things are moving fast. Peter Spiegel at the Financial Times hints at "humanitarian aid." The popular media plays up actress Kate Hudson contributing tourist dollars in Skiathos; jokes are made, but there is nothing funny here. Just for starters, all of Greece will need medical supplies that come from outside the country.

Don't Sweat; Maintain Exogenous Calm

bloomberg.com — Indonesia and the IMF reach a third pact in six months for a bailout. Both sides make concessions: the IMF withdraws its mandate that the government dismantle its subsidies of food and fuel, Suharto agrees to close more insolvent banks. IMF Deputy Director Stanley Fischer declares "the worst of the crisis is over.", April 8, 1998.

Whichever Way You Look, China's in a Bear Market

bloomberg.com — In finance, in particular the Black-Scholes model, changes in the logarithm of exchange rates, price indices, and stock market indices are assumed normal(these variables behave like compound interest, not like simple interest, and so are multiplicative).

Best Books To Read On Currencies

bloomberg.com — Because the exchange rate is a relative, not absolute, price, the SNB's predicament is indicative of far more than domestic issues.

We're Heading for Massively Slower Job Growth Unless Immigration Surges

bloomberg.com — The economy's potential likely is closer to +1.75 percent (that is, 45 bps from growth in the labor force and 130 bps from growth in labor productivity) over the years 2007 through 2029 - in the absence of massive immigration reform (to yield 600,000 H1-B visas per year from 2017 - 2048).

Germany Creates Jobs While Greece Destroys Them

bloomberg.com — If you want to feel really depressed about Europe's future, read the op-ed article by Wolfgang Schäuble, Germany's finance minister, that was published Wednesday by The New York Times. It's a flat-out rejection of everything we know about macroeconomics, of all the insights confirmed by European experience these past five years.

Greece Is in a Worse Spot Than America Was in 1933

bloomberg.com — Using the second definition of depression, most economists refer to the Great Depression as the period between 1929 and 1941. On the other hand, using the first definition, the depression that started in August 1929 lasted until March 1933. Note that NBER, which publishes the recession (instead of depression) dates for the U.S.
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Jul 05, 2015

RT @ianbremmer: Greek NO vote more likely post-IMF report saying €60B in addl funding required. Big boost for Tsipras.

Jul 04, 2015

RT @georg_schmitt: "Greece's Sorry Reckoning" - Balanced, cool-headed analysis by @nkonstan on the Greek crisis. nyti.ms/1JMYyXY

Jul 04, 2015

@WhelanKarl .@AshokaMody on the IMFs Debt Sustain Analysis. creditors negotiated with Greece in bad faith. bruegel.org/nc/blog/detail…” scathing

Jul 04, 2015

RT @GabrielSterne: Main conclusion from referendum is 50% prefer exterme austerity, 50% exit. 50% not a sufficient constituency for successful implementation

Jul 04, 2015

@PeterHotez: My comments in @ambazaarmag: First death from measles recorded in 12 years in the US americanbazaaronline.com/2015/07/03/fir…” ...important

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