News: 2014-01-10
China
China overtakes US as largest goods trader
China’s Appetite for Resources Sharpens – Real Time Economics – WSJ
Europe
Wolf of Wall Street screenings prove popular with European bankers | Film | theguardian.com
BBC News – Volkswagen’s luxury car brands post record sales
ECB ready to act again if needed, says Draghi – Independent.ie
ekathimerini.com | Greek industrial slump persists, jobless rate at record high [Update]
Joblessness at a record high but the economy could be in a technical recovery soon. “The PMI Manufacturing index rose in December to its highest level in more than four years, to 49.6, just shy of a 50-point mark that divides growth from contraction.”
North America
Fed’s George: Bond Taper First Step on Path of Normalization – Real Time Economics – WSJ
U.S. ICSC retail sales 3.7 percent in December | Reuters
Analysis: Housing experts warn of hiccups as new U.S. mortgage rules go live | Reuters
U.S. December planned layoffs plunge to lowest since 2000: Challenger | Reuters
Greenspan, the Keynesian | FT Alphaville
I disagree with this: “To us, the most significant point is that good central bank policy probably breeds bubbles.”
Jobless claims fall as labor market firms | Reuters
The economy: Is this the year growth takes off? | The Economist
TRUTH IN SETTLEMENTS ACT – Elizabeth Warren
For the First Time, the Majority of Congress Are Millionaires | TIME.com
Home Equity Gains Spur the Economy as Owners Buy Cars: Mortgages – Bloomberg
Markets
Pimco’s Gross Bets on Bonds in 2014
UPDATE: Bankia 5-yr size set at €1bn, spread at MS+235bp | Capital City | IFRe
Spain Secures Five-Year Funding at Euro-Era Low Cost – WSJ.com
The Tortus sell is Portugal | FT Alphaville
“Portugal needs nominal growth of 3.5 per cent a year to right itself. Which is why we need to talk about Greece again. 1. Delaying the sovereign debt restructuring in Greece was a mistake as it led to bigger haircuts but lower debt relief. 2. Cutting government expenditures and raising taxes has a disproportionately large negative impact on the economy and leads to higher, not lower, leverage.”
Portugal to raise up to €2.5bn in bond sale – FT.com
“Yields on Portugal’s benchmark 10-year debt have fallen almost 70 basis points this year to about 5.47 per cent.”
Overstock.com Partners With Coinbase And Starts Accepting Bitcoins As Payment | TechCrunch
One step closer to legitimacy: Bitcoin payment live on Overstock
‘CoinyeCoin’ launches early after Kanye West legal threat – Independent.ie
Technology
AnandTech | Samsung SSD 840 EVO mSATA (120GB, 250GB, 500GB & 1TB) Review
Apple’s domestic Mac sales surge 28.5% as overall PC market shrinks 7.5%
Schneier on Security: Security Risks of Embedded Systems
Elsewhere
Gifted Children Get Ignored in School Despite Huge Future Contribution to Society — PsyBlog
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