Subject: Share the View 2: Middle Class Destruction
From: "Bloomberg View" <[email-masked]>
To: <[email-masked]>
Date: Wed, 25 Mar 2015 12:42:45 -0400 (EDT)

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Share The View

The Latest Opinions From Bloomberg View

Mar 25, 2015

bloombergview.com<=a>

<= href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2f8ny.=yy/VRLhiUmOwEbNACpqB91cd" style="text-decoration:none;color:#00b9e7;line=height:1.6em">U.S. Economy

Noah Smith: "Ther= is a growing body of research showing that globalization -- and, in parti=ular, the rise of China -- has been the biggest factor hollowing out the A=erican middle class. Naturally, supporters of the robots explanation have =a href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2f8ny=zyy/VRLhiUmOwEbNACprB2550" data-web-url="http://faculty.chicagobooth.edu=brent.neiman/research/Neiman_Comments_for_BPEA.pdf" style="text-decorati=n:none;color:#00b9e7;line-height:1.6em">challenged some of this resear=h, but the papers keep piling up." =ead more...

Work

Megan McArdle: "I=could pay $10 for a Big Mac, but I could also just go home and fry up a ha=burger, or heat up an industrially processed meal in the microwave. I coul= pay triple the price for all my T-shirts, or I could just buy a third as =any T-shirts, reducing the need (and the available funds) for store clerks= That's always been the case, of course, but the differences in degree wer= often so large as to almost be differences in kind." Read more...

European Economy

Mohamed A. El-Erian: "This we=k’s encouraging data from Europe, including the decent euro zone <= href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2f8ny.=yy/VRLhiUmOwEbNACpuBc3cf" style="text-decoration:none;color:#00b9e7;line=height:1.6em">Purchasing Managers Index numbers for February released =esterday, confirm that the continent is on a well-trodden quantitative-eas=ng path that has already been followed in the U.S. and Japan. With this in=mind, here are nine things to know about the European Central Bank�=99s QE." Read more...<=a>

Investing

Barry Ritholtz: "=/span>One of the more fascinating aspects of watching finance=is the never-ending stream of explanations for the market's action. Strate=ists, news media and economists all engage in a series of tortured rationa=es for what just happened. These tend to be after-the-fact reasons that ar= too smug, too pat and too late to be useful, let alone satisfying. Forget=predicting the future, these folks don’t seem to even understand w=at happened yesterday."

China

William Pesek: "B=ijing has pledged nearly $200 billion to various new lending institutions =nd funds -- to bolster trade with Europe, establish a footprint in the Ind=an Ocean, build infrastructure across Asia and generally increase the main=and's influence worldwide. ... The move would confer prestige, take Americ= down a peg and attract more investment. Viewed that way, Washington shoul= fear the yuan joining the ranks of the dollar, euro, yen and British poun=, right? Wrong." Read more...=/a>

BANKING

Leonid Bershidsky: "Deut=che Bank is considering the sale of all or part of its retail business o=, at the least, serious cuts in the retail division. These days, it seems =ealing with private clients may be becoming too much of a hassle -- and no= just for Deutsche Bank." Read more...

Energy

The Editors: "Advocates of residential solar power see a te=hnology that reduces carbon emissions and saves people money. Opponents se= something that benefits only those homeowners with high credit scores and=the right kind of rooftops, at the expense of everyone else. Both sides ar= right. But it's possible to ensure that solar-power use keeps growing wit=out any unwanted economic side effects." Read more...

Law

Noah Feldman: "This Kafk=esque scenario couldn’t happen in the U.S., right? Not until Monda=, it couldn’t. But a federal judge in the Southern District of New=York just did exactly this, dismissing a defamation suit by Greek shipping=magnate Victor Restis against a shady advocacy group called United Against =uclear Iran." Read more...

India

Dhiraj Nayyar: "Indian l=aders long envied Singapore's late Lee Kuan Yew because without political =pposition, he was able to get things done. But Lee himself made the point =hat India's democracy was no excuse for slow growth and stalled reforms." =span class="topic-read-more" style="font-family:Arial, sans-serif;text=decoration:none;color:#00b9e7;font-weight:normal;font-size:17px;line-heigh=:1.6em;text-transform:none">Read more...=/span>

NEWS=ROUNDUP

Katie Benner (Read the news roundup)=/span>

Facebook is in the midst of putting two big initiatives in=o motion. Those plans have lately boosted the company’s stock pric= and ramped up the hype around F8, its annual developer conference that kicks off today in San=Francisco. Read more=..

Uber suspended a driver in France for sexually assaulting = passenger, Bloomberg reports. Read more...Jason Goldman, who has worked at Google, Medium and Twitte=, will become the White House’s first-ever chief digital officer, =eports Poli=ico. Read more..=

Jonathan Bernstein (Read the news roundu=)

Exc=llent item from James Pfiffner at Brookings on the presidency and centralizing authority=inside the White House. Read more...

Mar= Blumenthal and Ariel Edwards-Levy at HuffPollster on the state of polling. =a href="http://link.mail.bloombergview.com/55086a4c3b35d051538c37cc2f8ny=zyy/VRLhiUmOwEbNACp7De4ed" style="text-decoration:none;color:#00b9e7;lin=-height:1.6em">Read more...

New=York's Jonathan Chait has some fun with Cruz’s politically charged musical decisions. Read more...=/span>

Barry Ritholtz (R=ad the news roundup)

What Happens When Vanguard Owns Everything? The company is=bigger than an 800-pound gorilla -- and still growing. (Morningstar) =ead more...

Old Age Doesn’t Kill Bull Markets (Dr. Ed Yardeni) Read more...

LOL: Should you invest with a high school hedge fund manag=r? (Quora) Read more...

Matt Levine (Read the news roundup)

Rut= Porat used to be a tech investment banker at Morgan Stanley, advising big=tech companies on acquisitions and other financial decisions. Then she bec=me chief financial officer of Morgan Stanley. Then Google's CFO called in rich, a=d now Porat will replace him. This seems like a good m=ve for her! Read more...

Slack Technologies, which makes a pretty good insta=t messaging system, "is in talks with investors to rai=e financing at a valuation of more than $2 billion," even though it has="a lot of money and not a lot to spend on." Read more...

Yes=erday the Supreme Court decided a case about whether =t can be securities fraud to say "We believe our contract arrangements wit= other healthcare providers, our pharmaceutical suppliers and our pharmacy=practices are in compliance with applicable federal and state laws," when,=in fact, federal regulators later sue you for violating anti-kickback laws= The short answer is ... mmmmaybe?<=span> Read mo=e...

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For media inquiries, contact Jill Watanabe at j=[email-masked].

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