We looked inside some of the tweets by @VMRConstancio and here's what we found interesting.
Inside 100 Tweets
“Bank of England governor.. has said funds that invest in illiquid assets but allow investors instant access to their money are “built on a lie” and called for changes to regulations.
https://www.ft.com/content/e6d5bf04-980b-11e9-8cfb-30c211dcd229 Compare with the FSB mild recommendations. https://www.fsb.org/2017/01/policy-recommendations-to-address-structural-vulnerabilities-from-asset-management-activities/
Last year Austria sold 100-year debt with a 2.1% yield. Now it's selling another century bond, but with a 1.2% yield. https://www.bloomberg.com/opinion/articles/2019-06-25/a-100-year-austrian-bond-at-1-2-what-fresh-madness-is-this
Larry Summers made an unserious critique of the Saez/@gabriel_zucman wealth tax.
This is the brutal response:
Remember when trillions of trapped profits abroad were going to return to the US economy after tax reform?
It isn't the biggest swing in the world, but the q1 BoP data indicates U.S. firms have resumed reinvesting a decent chunk of their offshore earnings abroad
Some thoughts about the supervisory framework for financial infrastructure firms. https://twitter.com/fbf_school/status/1143852525113761794
Just seeing this discussion now. It's important to distinguish between can and should. I think we ought to try to understand what the limits to monetary policy are: whether technical, institutional or something else.
The "new Hanseatics", led by the Netherlands, have torpedoed even the very modest Franco-German compromise from Meseberg which left open a path to a macroeconomi stabilisation function. (I covered Meseberg here: https://www.ft.com/content/bcf013c8-7468-11e8-b6ad-3823e4384287 )
*Real* (CPI-deflated) home prices falling nationwide, according to Zillow, Case-Shiller
The CEPS Task Force Report on Rebranding Capital Markets Union that I Chaired , has been published! https://twitter.com/ceps_thinktank/status/1143106406813450240
Some thoughts about how great wealth has led to great policy errors https://www.nytimes.com/2019/06/22/opinion/notes-on-excessive-wealth-disorder.html
This is a tremendous indictment of US social and economic policies. European social model puts European countries miles away from such outcome. https://twitter.com/gabriel_zucman/status/1142721479378948096
"The eroding advantage of the U.S. is partly self-inflicted, because it has clamped down on immigration and become far less open to foreign entrepreneurs and innovators." America Is Losing Its Edge for Startups - CityLab - Pocket http://getpocket.com/explore/item/america-is-losing-its-edge-for-startups?utm_source=twtrsynd&utm_medium=social
Godley‘s tool of using the interdependence of financial accounts of all economic sectors is obviously useful. It shows how the external balance depends on fiscal policy and is a macro phenomenon, contrary to all desingenous views that it is just a result of micro decisions https://twitter.com/philippasigl/status/1142443701639286794
Central banks must shun fruitless political games via @FT https://www.ft.com/content/3b5a9368-935e-11e9-aea1-2b1d33ac3271?shareType=nongift
Rept: I'm a reporter who travels to Mexico a lot.
CBP: What's your story on?
Rept: I'm a US citizen.
CBP: That wasn't the question.
Rept: I'd like to call a lawyer
Reporter after 3 hours in detention: Thanks for the new story. https://theintercept.com/2019/06/22/cbp-border-searches-journalists/
Crucial questions about the Libra exchange rate regime that the documents published by the Libra show that they do not understand the questions let alone having answers to them. https://twitter.com/antoniofatas/status/1142585946807791617
Summer books of 2019: Economics via @FT https://www.ft.com/content/ba03f7ca-92f7-11e9-b7ea-60e35ef678d2?shareType=nongift
In the next few days, CEPS will publish in Brussels the Report of the Task Force I chaired on the relauching of the Capital Markets Union project that has been stuck at Council level. We all have to contribute, however modestly, to relaunch and promote the European project 4/4