11-19-2015, 11:18 PM
Sixty years ago Asian dictators told their people in effect, “I am going to take away your freedom — but give you the best education, export-led economics and infrastructure that money can buy — and in a half-century you’ll build a middle class that will gradually take your freedom back.” In the Arab world, 60 years ago dictators told their people, in effect, “I am going to take away your freedom and give you the Arab-Israeli conflict, a shiny object to distract you from my corruption and predation.” That difference, 60 years later, has produced the Asian economic miracle and fueled the Arab civilizational meltdown/disorder in Yemen, Libya, Syria and Iraq.
Cabs, Camels or ISIS - The New York Times
As per Gabriel Zucman’s book, The Hidden Wealth of Nations, the world’s financial liabilities are worth about $7.6 trillion more than the world’s financial assets. Roughly $6.1 trillion of these extra liabilities take the form of equity and long-term debt, with the other $1.5 trillion held in low-yielding deposits and money-market funds.
Where’s my liability, dude? | FT Alphaville
South Korean imports and exports were also below consensus, down -16.6 percent and -15.9 percent, respectively year-on-year; this highlights both weak domestic demand, as well as poor demand from its biggest trade partner, China. The Bank of Korea highlighted China’s economic slowdown, the Federal Reserve’s potential interest-rate hike, and local household debt as key risks to its financial system.
Worrying Signs For North Dakota’s Oil Industry | OilPrice.com
Warren Buffett has seen shares of his Berkshire Hathaway fall more than 11 percent this year. Even worse, Berkshire shares have underperformed the S&P 500 by more than 10 percent.
Warren Buffett is having an unusually bad year
An attendee was kind enough to share notes on some of the big bets being made by hedge fund titans. Here's a rundown