Where is the Stock Market Headed?

Stock Market Performance – Recent History

http://www.nytimes.com/2011/03/27/your-money/27fund.html

Tech Bubble – Part II?

http://dealbook.nytimes.com/2011/03/27/is-it-a-new-tech-bubble-lets-see-if-it-pops/

Monetary Policy Issues

Fed’s Shift towards Greater Transparency

WSJ provides a nice timeline:

1975: The Federal Reserve presents testimony twice each year to Congress on the conduct of monetary policy.

1979: The FOMC releases the first semiannual economic projections.

1983: The Federal Reserve publishes the first “Beige Book,” which summarizes economic conditions in each Federal Reserve District.

1994: The FOMC begins to release a statement disclosing changes in the federal funds rate target.

2000: The FOMC begins releasing a statement after every meeting and starts to include an assessment of the balance of risks to achieving its objectives.

2002: The results of the FOMC roll-call vote are added to the post-meeting statement.

2004: The FOMC speeds up the release of its minutes: Now there is only a three-week lag, instead of waiting until after the next regularly scheduled meeting, which meant a lag of about six weeks.

2007: The FOMC decides to release its economic projections four times a year.

2011: The Fed announces that the chairman will hold four press briefing per year to present forecasts and provide additional details on policy decisions.

Rising Inflationary Concerns

http://online.wsj.com/article/SB10001424052748703362904576218281057298572.html

Eichengreen on the Rise of the Yuan

G-7 Intervenes in the Forex Market

Yen Strength Causes G-7 to Co-ordinate Forex Market Intervention
http://online.wsj.com/article/SB10001424052748703328404576207272244459198.html

 Also, see:
http://www.bloomberg.com/news/2011-03-18/g-7-intervenes-to-weaken-yen-as-surging-currency-threathens-quake-recovery.html


An Update on Global Supply Chain Concerns:
http://www.bbc.co.uk/news/business-12782566

Japan's Quake - Impact on Global Tech Supply Chains

Japanese Earthquake - Extraordinary Images & Videos

http://www.guardian.co.uk/world/gallery/2011/mar/11/japan-earthquake-tsunami-in-pictures
http://thelede.blogs.nytimes.com/2011/03/11/video-of-the-earthquake-and-tsunami-in-japan/

For those interested in understanding the science behind earthquakes, PBS-Nova's Deadly Earthquakes is worth checking out (below):

Watch the full episode. See more NOVA.

The World's Top Universities

Times Higher Education lists the top universities of the world:
http://www.timeshighereducation.co.uk/world-university-rankings/2010-2011/reputation-rankings.html

Education Levels of Various Immigrant Groups in the US

A look at education levels of various immigrant groups in the US (courtesy of the Federal Reserve Bank of Dallas)

Technology as the Master Disruptor

A fascinating article in the NYTIMES on the coming disruption in the labor market due to the increasing sophistication of machines/computer software: 

““The economic impact will be huge,” said Tom Mitchell, chairman of the machine learning department at Carnegie Mellon University in Pittsburgh. “We’re at the beginning of a 10-year period where we’re going to transition from computers that can’t understand language to a point where computers can understand quite a bit about language.”

Nowhere are these advances clearer than in the legal world.”

Update: Paul Krugman has an interesting op-ed related to the above story.

Besides the role of technology, another factor affecting the employability of college graduates may be the lowering of higher education standards and expectations. Bob Herbert of the NYTIMES makes an interesting point in this regard:

“Students are hitting the books less and partying more. Easier courses and easier majors have become more and more popular. Perhaps more now than ever, the point of the college experience is to have a good time and walk away with a valuable credential after putting in the least effort possible.”

How Dangerous is the US Fiscal Situation?

Tyler Cowen’s interesting point regarding fiscal borrowing and government debt:

“A government bond represents both a current asset and a future liability, yet for most people, those future tax payments feel less concrete and less real than the dollars they’re holding in a money market account.”

On the question of whether massive government intervention in 2009-2010 was worthwhile, see this interesting piece by Alan Greenspan (International Finance, Spring 2011 issue)

Great Stagnation vs. Great Divergence

A fascinating debate that may not be fully resolved (we will have to see how the current decade turns out to get a sense of whether the "Great Stagnation" thesis makes more sense than the widely accepted "Great Divergence" theory) until the end of the decade

http://www.economist.com/node/18276872

Tata Group - An Excellent Profile

The Economist has a well-written profile of one of best conglomerates in the world

Inflation Concerns Rise - Globally

Is Bernanke far too nonchalant about inflation pressures?
http://www.bloomberg.com/news/2011-03-04/gross-says-inflation-matters-more-for-u-s-economy-than-bernanke-indicates.html

Australia worries about the "Dutch Disease"
http://www.bloomberg.com/news/2011-03-03/gillard-concerned-strong-australian-currency-imposes-burdens-.html

ECB talks tough on inflation
http://www.bloomberg.com/news/2011-03-04/noyer-says-ecb-must-reaffirm-commitment-to-price-stability-amid-recovery.html