Friday , April 16 2021
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FT Alphaville

Further reading

Elsewhere on Tuesday . . . -- The issues with that semiconductor meeting at The White House-- Andrew Yang and the age of blah-- Fear and loathing on r/WallStreetBets-- Facebook and its political power problem-- Trevor Milton’s ill-gotten-gaff is up for vacation rental-- A guide to the Post-Keynesian worldview-- Pandemic and inflation: the Biden line-- Small funds can work-- The Bitcoin contango (sorry, ZH)-- Song of the day: Kool & The Gang -- Summer Madness...

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Revisiting the EV bubble spreadsheet

Since the turn of the month, markets have been quiet. Almost too quiet you might say. After several percentage point gyrations in the key indices over March as new data flowed daily on vaccination rates, Covid case levels and US fiscal stimulus, everything seemed to calm down. Hell, even the VIX has dipped below 20.So we thought it an opportune time to revisit our EV bubble spreadsheet from mid-January, which we’ve been updating fortnightly since we cobbled the document...

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Biden’s global tax plan is not without its challenges

This is a guest post by Richard Murphy, a visiting professor of accounting at Sheffield University Management School and a long-standing member of the campaign group Tax Justice, arguing that Biden’s tax plan has its challenges but is still an unexpectedly robust attempt to curtail International corporate tax arbitrage.President Biden’s new ‘Made in America Tax Plan’ represents a significant change in US thinking on corporation tax issues. As a result it opens up the...

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Further reading

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The great Grand National Excel model

Ancient Chinese philosopher Lao Tzu once remarked, “those who have knowledge don’t predict, and those who predict don’t have knowledge.”Perhaps. But the problem with predictions is that they’re fun to make. Particularly if you are in with a chance of making some dosh in the process.Speaking of which, the Grand National returns this weekend. After a break last year due to the pandemic, the steeplechase horse race held in Aintree, Liverpool has seemingly got the betting public...

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A Green New Deal must put people first

The notion of a ‘Green New Deal’ has gained traction on both sides of the Atlantic. It is primarily politicians on the left such as Alexandra Ocasio-Cortez in the US and Yanis Varoufakis in Europe leading the charge for a transformative political agenda to accompany a transition to green energy.Taking its cues from FDR’s New Deal — a raft of social and economic reforms following the Great Depression — a Green New Deal would enact sweeping social and economic reform alongside...

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Further reading

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Why Coinbase’s stellar earnings are not what they seem

Coinbase, one of the most popular crypto exchange and wallet services operating in the regulated financial sector, shared its first-quarter earnings on Tuesday ahead of its Nasdaq direct listing on April 14.Top line results showed revenues sky rocketing to $1.8bn in the first quarter of 2021 versus $191m in the same period last year, with net income climbing to c$730m.Other stand out numbers included the service reaching 56m verified users, trading volume of $335bn, and its...

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Further reading

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The UK’s splash-the-cash summer has a distribution problem

It’s fair to have assumptions about how the British economy might reset after the Covid crisis, but at the moment, it feels a little like we’re flying blind. For every expert touting the death of commercial real estate, you’ll find a punter exalting the delights of the commuter life. The same goes for infrastructure spending, or the welfare state. One thing is more certain though -- in aggregate, household balance sheets are bursting, with Morgan Stanley analysts reckoning...

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