My morning reads:
• Gold’s Great Unraveling Had a Few Harbingers (WSJ) see also Traders See Shades of 1980s in Gold’s Record Slide (WSJ)
• The First Black Friday (Crossing Wall Street)
• Europe Car Sales Heading for 20-Year Low on German Slide (Bloomberg) see also GOLDMAN: The US Consumer Has Suffered A Setback (Business Insider)
• FDA Let Drugs Approved on Fraudulent Research Stay on the Market (ProPublica)
• Jeremy Grantham, environmental philanthropist: ‘We’re trying to buy time for the world to wake up’ (theguardian) see also Grantham: Capitalism Is Great, But It Assigns No Value To Your Grandchildren (Business Insider)
• What People Think About Taxes (NYT)
• Could Hillary Clinton Be America’s Thatcher? (Bloomberg)
• Gold’s fall costs Paulson $1.5bn this year (FT.com)
• Have Americans become complacent in the face of terrorism? (Washington Post)
• Who’s Winning, iOS or Android? All the Numbers, All in One Place (Time)• Special Reinhart & Rogoff brouhaha section:
…..-A Study That Set the Tone for Austerity Is Challenged (NYT)
…..-Q&A: Carmen Reinhart on Greece, U.S. Debt and Other ‘Scary Scenarios’ (WSJ)
…..-Elementary misuse of spreadsheet data leaves millions unemployed (billy blog)
…..-Sloppy Research and No Understanding of Sovereign Currency (EconoMonitor)
…..-Whoops! Turns out debt doesn’t ruin economies (Salon)
…..-Microsoft Excel, Ruiner of global economies? (arstechnica)
…..-R&R:’ We Made A Blunder In Our Debt Study,+It Makes A Difference (Business Insider)
…..-Debt to GDP & Future Economic Growth (owenzidar)
…..-What if all those times really were different? (Noahpinion)
…..-Is the evidence for austerity based on an Excel spreadsheet error? (Wonkblog)
…..-How Much Unemployment Was Caused by Reinhart and Rogoff’s Arithmetic Mistake? (CEPR)
…..-The spreadsheet error in Reinhart & Rogoff’s famous paper on debt sustainability (MarketWatch)
…..-Raining on Reinhart and Rogoff (FT Alphaville)
What are you reading?
Gold VIX Spike
Source: FT Alphaville
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