This is big news, in the world of sovereign debt restructuring: Ivory Coast, which defaulted on its Brady bonds in 2000, has come to a deal with the London Club of private creditors to restructure them.
These tables come from a study organized by the National Highway Traffic Safety Administration, and they’re sobering: they show that hybrid electric vehicles (HEVs) are in some times twice as likely to be involved in pedestrian and bicyclist crashes as their internal combustion engine (ICE) counterparts.
Rich Miller reported yesterday that a number of luminaries have diagnosed a significant upwards move in Nairu, the rate of unemployment below which inflation starts kicking in — or, to put it another way, the level of unemployment which the Fed should consider to constitute “full employment”. They include JP Morgan’s chief economist Bruce Kasman; Harvard’s Lawrence Katz; and Ned Phelps, who got his Nobel for looking at such things.
Matthew DeBord takes aim and fires:
Salmon also makes it sound as if the average American eats primarily at off-the-freeway fast-food joints in between trips to the supermarket to fill their car with huge amounts of groceries. They nourish themselves by “absent-mindedly shovelling down an unknown quantity of something random while watching the TV.”…
Vincent Fernando has a blog entry today headlined “It’s Time To Stop Being Scared By Derivatives’ Trillion Dollar Notional Values”. Which is a bit like saying “It’s Time To Stop Being Scared By The $6 Billion Budget Deficit”: both of them are off by a factor of 200 or more.
One of the Philanthrocapitalists (I believe it’s Michael Green, unless Matthew Bishop is prone to referring to himself in the third person) attempts a defense today of the $1 million salary being paid by the Gates Foundation to its new CEO, Jeff Raikes. It’s pretty weak stuff: