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Bloomberg Markets MagazineBloomberg Markets Magazine

Bloomberg Markets Magazine August/September 2018

Bloomberg Markets is the best kept secret in the financial industry. Get Bloomberg Markets Magazine digital subscription today and learn what many Hedge Fund and Portfolio Managers already know. Bloomberg Markets is the must have guide to what's happening now, and what will happen in global finance.

国家:
United States
语言:
English
出版商:
Bloomberg Finance LP
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6 期号

本期

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the economics issue

This issue of Bloomberg Markets is devoted entirely to economics. We joined forces with Bloomberg Economics, led by Senior Executive Editor Stephanie Flanders, to bring you stories and actionable insights that illuminate theory, data, and on-the-ground reality. For our cover Q&A (page 46), Flanders persuaded Bank of England Governor Mark Carney to open up about Brexit, post-crisis financial regulation, and managing a three-century-old institution. She also writes about how economists lost the ear of the world’s political leaders (“The Humbled Science,” page 15). Executive Editor Simon Kennedy compiled Bloomberg interviews with economists to provide some views on what they think their profession might be getting wrong now (“Surveillance,” page 11). In “Your Guide to the Next Recession” (page 40), Jonas Bergman in Oslo, Enda Curran in Hong Kong, and Rich Miller in…

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markets almanac

Aug 23–25 Check {ECO } for a full calendar of scheduled economic releases and {BIE } for insights from the economists at Bloomberg Economics. Kansas City Fed’s Economic Policy Symposium Jackson Hole, Wyo. 27 U.S. Open tennis tournament begins Flushing Meadows, New York City 2017 winners: Rafael Nadal, Sloane Stephens. Sept 9 Swedish general election Will the anti-immigrant Sweden Democrats make gains? 15 For an overview of how the Federal Reserve’s balance sheet changed over the decade, type {FED BAL }. {EBBSTOTA Index GP M } for the ECB. Lehman Brothers bankruptcy 10 years ago The S&P 500 Index closed at 1,192.70. 25 UN General Assembly debate opens Manhattan traffic slows to a crawl. 26 Bloomberg Global Business Forum New York City Oct 4–7 Frieze London London The biggest showcase of art in Europe. 7 Brazil is the second-biggest economy in the Americas, and this is the country’s most unpredictable election since it returned to democracy in 1985. Brazilian election…

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what are economists getting wrong today?

AT THE HEIGHT OF THE FINANCIAL CRISIS in late 2008, Queen Elizabeth II asked an economist, “Why did nobody notice it?” ¶ Aside from a handful of dismal scientists branded as doomsters before the turmoil hit, the failure was a collective one for economists from Wall Street to academia. ¶ Indeed, a 2014 study by Prakash Loungani of the International Monetary Fund found that not one of the 49 recessions suffered around the world in 2009 had been predicted by a consensus of economists a year earlier. Further back, he discovered only two of the 60 recessions of the 1990s were anticipated a year in advance. ¶ A decade on from the British monarch’s question seems an opportune time to ask what economists might be missing today. “Given our past record…

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the humbled science: economists reckon with reality

NOT SO LONG AGO, politicians had “favorite” economists. Margaret Thatcher’s was Milton Friedman. John F. Kennedy’s was probably John Kenneth Galbraith. President Bill Clinton had a Nobel Prizewinning economist, Joseph Stiglitz, in residence at the White House for his entire first term and was said to light up at the mention of John Maynard Keynes. You don’t hear of many favorite economists today. Political leaders still have economists around, but it’s difficult to remember the last time one publicly and proudly followed their advice. Donald Trump, as ever, is the extreme case. He seems to take some pride in doing the exact opposite of what mainstream economists would prescribe—on the wisdom of trade wars, say. But if the economics profession were being honest with itself, it would have to admit that…

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port in a storm

THE PORT OF LOS ANGELES, which covers 43 miles of waterfront in Southern California, has a lot to lose in a U.S. trade war with China. Last year the port handled about $145 billion in imports and exports between the two countries, more than half the value of all cargo moving through the facility, according to port statistics. As of the end of July, the Trump administration had enacted or proposed tariffs on more than $200 billion in Chinese imports—ranging from aluminum and steel to meat and poultry. The proposals have given domestic metal producers such as Pittsburgh-based United States Steel Corp. some reason to cheer. General Electric Co., on the other hand, says tariffs on Chinese goods may raise its costs by as much as $400 million. Despite the heated…

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the people’s economy: charting the rise of populism and the risk to growth

SURVEYING THE END OF the Cold War in 1989, political scientist Francis Fukuyama famously argued in an essay titled The End of History? that Western liberal democracy was the culminating form of government. That’s not quite how things have played out. History, you might say, has returned. Consider the Group of 20. Establishment political parties in those countries, the avatars of Western democracy, have seen their share of the G-20’s total economic output shrink in recent years. The most striking countertrend has been the rise of populism. Populist parties—claiming to defend the common man against corrupt elites, valuing national unity above cosmopolitan inclusion, and offering simplistic solutions against complex policy debate—have been gaining strength since the global financial crisis a decade ago. President Donald Trump in the U.S. is one prominent…

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