Hungary Issues Sovereign Bonds Denominated In Yuan: Another Nail In US Reserve Currency Status? – G.G.
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‘Danger is rapidly building,’ wealthy flee cities – DSV
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Items from Professor Preponomics:
US News
Why Regulators Think JPMorgan is Still Too Big to Fail (Washington Examiner) Excerpt: “They also said that the bank would have difficulty winding down its books of derivatives during a failure.”
House Passes Bill to Add Section to Bankruptcy Code for Banks (Washington Examiner) Excerpt: “The legislation ‘ensures that shareholders and creditors, not taxpayers, bear the losses related to the failure of a financial company…'”
Video: The History of Credit Cards (Visual Capitalist) Excerpt: “Bank of America took this idea and ran with it, forever changing the history of credit cards. They launched the “BankAmericard” in Fresno, California, by sending it out to all 60,000 residents at once.”
Minimum Wage Activists Should Look to Puerto Rico for Clues to the Future (National Review) An excellent review. Excerpt: “The only historical examples close to the California and New York minimum-wage experiments are the unfortunate experiences of Puerto Rico…”
Four Reasons Why Government Spending is Even Worse than Taxes (Mises) Excerpt: “…it’s not the taxes that are the worst part of the tax-and-spend equation. What the government does with the money — once it has it — is actually worse, and it’s more damaging both politically and economically.”
International News
Industry Says Derivatives Rules Need Tweaking to Spot Risks Better (CNBC) Excerpt: “Regulators won’t get a clear picture of risks in the $550 trillion derivatives market until they prune trade reporting rules…”
World Faces “Lost Year” as Policymakers Sleepwalk Toward Fresh Crisis, Warns IMF (The Telegraph) Excerpt: “In its bluntest warning to date on the costs of policy inaction, the IMF said “financial and economic stagnation” could take hold unless governments prevented a “pernicious feedback loop of fragile confidence, weaker growth, low inflation and rising debt burdens” from forming.”
Personal Economics and Household Finance
Why Americans are Some of the World’s Worst Savers (Market Watch) Excerpt: “Global Finance compared 25 different countries that are members of the Organisation for Economic Co-operation and Development…”
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