Elsewhere on Thursday, – Jonathan Alger with some more qs for Draghi.– Lorcan Roche Kelly on how Germany’s central bank is by far the biggest issuer of cash in the bloc… and how that might end up costing it.– Peter Stella on “how easy it would be to condense the Fed’s balance sheet provided the US Treasury adjusted its debt management strategy accordingly.”– The IMF revisits the paradox of capital: The reversal of uphill flows.– From the NYT: ‘Superstar firms’ may have shrunk workers’ share of income.– From the NYT again: “The teachers’ pension fund in Puerto Rico looks very much like a legalized Ponzi scheme — one that might hold a warning for teachers across America.”– Pimco doing some painfully unsubtle rebranding.– Also, names matter in bond ETFs as Gundlach clobbers Gross’s old fund.– “Nothing is new: 500 year old economic theory works great for hedgefund”– Carl Icahn responds to ‘witch hunt’ complaint.– A short squeeze in the Indian bond market?– A conversation with Angus Deaton on whether it’s better to be poor in Bangladesh or the Mississippi delta?– Purple America has all but disappeared.– Taibbi: Why the Russia story is a minefield for Democrats and the media.– Trump’s paranoia has reportedly hijacked the Treasury Dept.
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