The better deal for
Cyprus, by Lee Buchheit: also known as the godfather of sovereign debt
restructure. Here’s the simple plan: (1) leave all deposits under 100k Euro
untouched but convert them into bank CDs with laddered maturity and interest
(2) term out everybody else by 5 / 10 years. It reduces the size of bailout,
touches nobody’s principal, and gives the government good breathing
room…Source: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2235359
Housing boom, but not
construction jobs: Key to understanding the sluggish growth in construction
jobs is a concept called “labor hoarding.”
That’s what happens during a recession when companies don’t fire as many
workers as the decline in business would seem to have justified. Firms don’t
want to lose all their quality workers and then be unable to keep up with
demand when business finally turns around, so they keep people on staff even
when there is not enough work to keep them fully busy. [Note: 50% wage is more
money than 100% unemployment]…Source: http://www.washingtonpost.com/blogs/wonkblog/wp/2013/03/19/housing-has-been-booming-construction-jobs-havent-heres-why/
5 reasons why
immigration reform is moving forward: (1) The 2006-07 reform fall-out nonetheless
built trust and cordiality, (2) Republicans have a political imperative (to
keep Hispanic and Asian voters) to keep things moving; (3) Immigration reform
largely stands apart from the fiscal fight that’s driven apart both parties;
(4) powerful interest groups are trying to help the process along, and (5)
there is a big grassroots movement in support of the issue…Source: http://www.washingtonpost.com/blogs/wonkblog/wp/2013/03/19/five-reasons-why-immigration-reform-is-moving-forward/
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