News: 2014-01-08

Emerging Markets

Is China About to Let the Yuan Rise? Don’t Hold Your Breath – China Real Time Report – WSJ

China’s World: Beijing Should Scrap the GDP Target – WSJ.com

EconoMonitor : The Kapali Carsi » The curious case of the inverted Turkish yield curve and implications for monetary policy

 

North America

Gates Faults Obama Over Afghanistan – WSJ.com

U.S. trade deficit smallest in four years; imports weak | Reuters

“This measure goes into the calculation of gross domestic product, and November’s decline could see economists bump up their fourth-quarter growth estimates.”

US oil boom drives trade deficit to four-year low – FT.com

Unforeseen U.S. Oil Boom Upends Markets as Drilling Spreads – Bloomberg

Daniel Yergin traces the effects of America’s shale-energy revolution on the balance of global economic and political power. – Project Syndicate

In trimming QE, low inflation a cause for caution: Fed’s Rosengren | Reuters

What Alan Greenspan Has Learned Since 2008 – Justin Fox – Harvard Business Review

Skin in the game — how to make economic models contact reality | LARS P. SYLL

Summers believes we can reduce bubbles with big budget deficits., Scott Sumner | EconLog | Library of Economics and Liberty

“I don’t believe in bubbles, but excess lending is certainly possible given all the moral hazard built into our financial system.”

Calculated Risk: CoreLogic: House Prices up 11.8% Year-over-year in November

1-in-3 People Experienced Spell of Poverty From 2009 to 2011 – Real Time Economics – WSJ

Puerto Ricans Flock North Away From Battered Economy – WSJ.com

Selling Puerto Rico Cofina 3.0 | MuniLand

Banks face new probe over mortgage bond trades post 2008: WSJ | Reuters

The GOP couldn’t be more wrong about cutting unemployment insurance | Heidi Moore | Comment is free | theguardian.com

Econbrowser: Progress in Rebalancing

On the US economy, manufacturing and other issues

Enrique P. Nieto highlights the progress on reform that has been achieved under the “Pact for Mexico.” – Project Syndicate

 

Europe

Investors Snap Up Ireland’s Bonds – WSJ.com

Bundesbank May Gain ECB Ally as Latvian Joins Policy Team – Bloomberg

Euro zone unemployment still at record high, but retail sales rebound | Reuters

Euro-Zone Retail Sales in Surprise Surge – WSJ.com

BBC News – Eurozone inflation rate falls to 0.8%

BBC News – Romania and Bulgaria migration issue divides Germans

Eurozone losing ‘safety margin’ against deflation trap as core gauge falls to record low – Telegraph

Bundesbank warns over ‘highly speculative’ Bitcoin – FT.com

ekathimerini.com | Imports drop 15.3 pct, exports down by 22.6 percent in November

 

Markets

Investors Chronicle – Saxo’s outrageous predictions for 2014

David Rosenberg: Expect a blow-out year | Talking Numbers – Yahoo Finance

Grantham: Contrarian Sticks to His Guns – TheStreet

 

Technology

Apple seeks removal of court-appointed antitrust monitor | Reuters

Panasonic’s next GH mirrorless camera will record 4K video, arrive late February for under $2,000

Vizio’s 4K Ultra HD TVs start at $1,000 for a 50-inch set (video)

T-Mobile Ads Confirm UnCarrier 4 Plans: Pay ETFs for Families Who Transfer | Droid Life

How the NSA (may have) put a backdoor in RSA’s cryptography: A technical primer | CloudFlare Blog

Kanye’s Lawyer Moves to Block Coinye – Digits – WSJ

T-Mobile CEO John Legere kicked out of AT&T’s CES party | The Verge

I love this guy. He is single handedly shaking up the whole industry.