Elsewhere on Tuesday,
– Gavyn Davies on the Fed’s lowflation dilemma.
– Toby Nangle read all thirty four of the written submissions for the Treasury Select Committee about post-crisis monetary policy so you wouldn’t have to.
– A look back at the various iterations of the Bloomberg keyboard.
– Facebucks, attention as a currency, Blockchain go-to-market & platforms.
– Adam Ozimek: Guaranteeing a job for everyone is harder than it sounds.
– Couriers on Britain’s shopping addiction: ‘Customers don’t care as long as it’s cheap’.
– Balding on whether China can address its bank problems without having currency problems.
– Ricardo Hausmann asks if “decent people” should “put their money in emerging-market bond funds” that feature Venezuelan “Hunger Bonds”:
The solution is to demand that JPMorgan immediately exclude Venezuela from the emerging market bond indexes it calculates, thereby freeing fund managers from the need to compare their performance with hunger bonds. Over time, JPMorgan should introduce a Decent Emerging Markets index, which would save you from moral anguish by ensuring that only countries adhering to minimal standards of respect for their citizens are included. The DEM would allow you to root for higher returns on your savings without wishing for human misery. You could do well, without feeling bad.
– Bloomberg on how the Indian central bank is starting “to flesh out its stress resolution plan, one meeting at a time.” Calling this incremental might be kind.
– The MacroTourist’s great bitcoin bungle.
The British are known to take matters of heraldry seriously, and Mr. Trump’s American coat of arms belongs to another family. It was granted by British authorities in 1939 to Joseph Edward Davies, the third husband of Marjorie Merriweather Post, the socialite who built the Mar-a-Lago resort that is now Mr. Trump’s cherished getaway.
In the United States, the Trump Organization took Mr. Davies’s coat of arms for its own, making one small adjustment — replacing the word “Integritas,” Latin for integrity, with “Trump.”
– The devastating effects of dental inequality in the Unites States.
– Andrew O’Hagan lays into the Daily Mail and Paul Dacre.
– This is (a longread on) nuts: “In California, millions of dollars’ worth of almonds, walnuts, and pistachios are disappearing. Farmers are perplexed, the cops are confused, and the crooks are getting richer.”
– A year of Google and Apple maps.
– Further, further reading.