Derek M. Young

24 Flips | 4 Magazines | @GHDerekYoung | Keep up with Derek M. Young on Flipboard, a place to see the stories, photos, and updates that matter to you. Flipboard creates a personalized magazine full of everything, from world news to life’s great moments. Download Flipboard for free and search for “Derek M. Young”

Bank loans and other scary things in muniland

MuniLand<p>« Previous Post<p>Virginia court strikes down toll to fund public private partnership<p>Next Post »<p>Harrisburg joins Jefferson County with muniland securities fraud charge<p>One comment<p>We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment …

An Expected Interest Rate Cut In Europe Won't Boost Investor Confidence

Analysts increasingly expect the European Central Bank (ECB) to cut its target interest rate when it meets later this week, particularly if inflation data continues to show prices falling across the euro area. Not only is Greece in its sixth year of recession, but even almighty Germany is beginning …

Did Obama’s $76 Billion Corporate Tax Break Pay Off?

President Obama has a less than stellar reputation with corporate America, but he gave businesses a sweetheart tax deal that tacked several billions …

Banks Have Become “Too Big To Fail” Again. Uh-Oh.

There are two competing narratives about recent financial-reform efforts and the dangers that very large banks now pose around the world. One …

Can the Fed offset contractionary fiscal policy?

MIKE KONCZAL writes that 2013 is shaping up to be a grand experiment, testing an important macroeconomic proposition: that expansionary monetary …

Krugman’s double standard

<b>Paul Krugman</b> has a new post that fails on every level possible.<p>as Mike Konczal points out, we are in effect getting a test of the market monetarist …

Economics

Economist's View

I've was making this argument long before the crisis hit, I was among the first to say that monetary policy would not be enough to solve our …

American Rail Traffic Growth Has Nearly Ground To A Halt

After a big first quarter rail traffic has come out of the gate extremely soft in Q2. The average pace of year over year expansion in intermodal traffic was a very healthy 5.3% in Q1, but has averaged just 0.08% so far in the first 4 weeks of the second quarter. This is a trend that has been …

The World's First Stock Market Crash Happened Nearly 300 Years Ago

<b>Early years</b><p>By 1710, England's finances were a fright. Different government departments arranged their own loans and expended money with little financial oversight. The Chancellor of the Exchequer, Robert Harley, convinced Parliament to look into straightening out this mess. One of the first steps …

Stock Markets

Is income inequality beyond fixing?

<b>Mitt Romney (AP)</b><p>Until we can reduce the flow of money into politics, the rich will continue to dictate public policy<p>Jared Bernstein<p>April 24, 2013 8:22pm (UTC)<p>A critical concern of our time is not simply our high levels of income inequality and their negative impact on opportunity and mobility. It’s …

Economist's View

Thomas Herndon's Professors Almost Didn't Let Him Start The Paper That Shook The World Austerity Movement

He's the UMass Amherst PHD student who discovered an Excel coding flaw in the famous paper by economists Kenneth Rogoff and Carmen Reinhart, which had claimed that when a country's debt surpasses 90% of GDP, then growth slows precipitously.<p>Herndon's discovery has ricocheted around the world, …

KrugTron the Invincible

If you grew up in the 80s you probably remember Voltron. Although the show often had convoluted plotlines, it would somehow always end with Voltron …

Moderating the infrastructure debate

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. …

National Geographic Found

Everything You Need To Know About China's Crackdown On $2.1 Trillion Of Wealth Management Products

The Chinese stock market took a hit Thursday after its banking regulator issued new regulations to tighten control over banks' wealth management products (WMPs).<p>WMPs are essentially a pool of securities (trust products, bonds, stock funds) that have yield that is on average 2 percentage points …

How Are You Filing Your Federal Income Taxes? — ProPublica

Earlier this week, Liz Day reported how Intuit, the maker of TurboTax, has led a fight to squash “return free” income tax filing, spending more than …

Leaving Same-Sex Marriage to the States Is a Recipe for Confusion

The justices seem reluctant to impose a nationwide system, but the resulting checkerboard of laws and customs could be unsustainable.<p>Reuters<p>Even with the usual caveats about reading too much into questioning at a Supreme Court hearing, the big takeaway from this week's oral arguments on gay …

Cruel and Unusual Punishment: The Shame of Three Strikes Laws

On July 15th, 1995, in the quiet Southern California city of Whittier, a 33-year-old black man named Curtis Wilkerson got up from a booth at …

Cypriots limited to 300-euro withdrawls

<b>(AP/Petros Karadjias)</b><p>Cyprus’ banks will reopen Thursday<p>Associated Press<p>March 27, 2013 7:04pm (UTC)<p>NICOSIA, Cyprus (AP) — Cyrpiots will only be allowed to withdraw 300 euros ($383) in cash each day when the country's banks open for the first time in more than a week Thursday, the state news agency …

The Jaw-Dropping Reason Congress Drafted DOMA: 'Moral Disapproval of Homosexuality'

If you oppose the act already, this 1996 passage will make steam come out of your ears.<p>When Supreme Court Justice Elena Kagan read aloud from the 1996 Report to Congress that accompanied the passage of the Defense of Marriage Act, there were audible gasps of shock in the courtroom, according to …

Angry Bear » Speaking of inequality

Travis Waldron at Think Progress pointed out this excellent article by David Cay Johnston. It dovetails well with my last post, which showed the fall …