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Share The View

The Latest Opinions From Bloomberg View

Sep 10, 2015

bloombergview.com

<= href="http://link.mail.bloombergview.com/click/5118446.14138/aHR0cDovL3=3dy5ibG9vbWJlcmd2aWV3LmNvbS90b3BpY3MvcmVmdWdlZXM/55086a4c3b35d051538c37ccB=b132f47" style="text-decoration:none;color:#00b9e7;line-height:1.6em">Re=ugees

Mohamed A. El-Erian: Europe's=new strategy centered on mandatory quotas for refugees "will provide much-=eeded, but short-term, relief for a humanitarian tragedy. But a sustainabl= solution also must include measures that reduce the supply of refugees by=improving the unbearable conditions in the lands they are fleeing."=Read more...

Christopher Flavelle: "Europe=s struggle to deal with Syrian migrants has made it more important to coax=Canada and other developed countries to accept more migrants themselves. .=. Getting those countries to open their doors further, especially given th= unrest Syrian migrants have caused in Europe, may seem like an unrealisti= goal. But a look back at how New World countries responded to similar wav=s of migrants fleeing conflict shows the current reluctance is a departure=from the norm." Read more...

Money and Politics

The Editors: "The Democratic =andidates for president are trying to outdo one another with their ambitio=s proposals to reform the campaign-finance system. Yet without one vital c=ange, none of these plans will make any difference. ... A constitutional a=endment would be meaningless, and a matching funds program disastrous, if =he next president doesn’t first fix the Federal Election Commissio=." Read more...

Tech

Leonid Bershidsky: "Apple is =ot a miracle factory. It's an extremely well-managed business. The iPhone =ccounted for 63.2 percent of its sales in the last quarter. Chief executiv= Tim Cook knows this makes Apple vulnerable, and nobody has yet figured ou= what a new quantum leap in smartphones might look like. Apple doesn't hav= a potential new flagship, either. So the only way to maintain solid growt= is to strengthen the products that have been lagging. That's exactly what=Apple is doing with the iPad and the Apple TV set-top box." Read m=re...

National

The Editors: "Puerto Rico has=finally issued a plan to dig itself out from under $72 billion of public d=bt -- more than any state in the union except California and New York. It'= a pretty good plan, too, except for one thing. The island's legislators c=n't be trusted to stick to it." Read more...

Wall Street

Barry Ritholtz: "As the New Y=rk Times reported, the Justice Department 'issued new policies on Wednesda= that prioritize the prosecution of individual employees -- not just their=companies -- and put pressure on corporations to turn over evidence agains= their executives.' The policies are contained in a memo written by Deputy=Attorney General Sally Q. Yates. ... Pardon my cynicism, but after so much=failure to prosecute, I remain doubtful that much if anything has changed.=The onus is on the Justice Department to show that it's serious by way of =ctions, not words in a memo." Read more...=/a>

Federal Reserve

Mark Gilbert: "It isn't clear=to me why more QE is the answer to the economy's failure thus far to respo=d to previous QE. But when some of the smartest people in finance are argu=ng for yet more monetary stimulus, it would be a pretty brave move for the=Fed (or indeed the Bank of England) to start pushing up borrowing costs."<=span> Read more...

China

Adam Minter: "Wang Sicong, th= playboy son of China’s richest man, announced via social media th=t he's launching Panda TV, a China-based streaming e-sports platform that =ill compete directly with [Amazon's] Twitch. In doing so, the listless Wan=, who is perhaps best known for buying two gold Apple Watches for his dog,=was aiming straight at Amazon. And Wang, with his money and instinct for a=global gamer demographic to which he belongs, is in good position to win. =t was just the latest setback for Amazon in China." Read more...

Latin America

Mac Margolis: "In his state o= the union address last week, [Mexico's] President Enrique Pena Nieto ackn=wledged that a series of scandals have 'hurt the spirit of the Mexican peo=le and their trust in public institutions.' The souring mood follows a rev=rsal of fortune for Mexico's economy, hit by sagging oil prices and the pl=nging peso, down 20 percent from a year ago. Yet most of Pena Nieto's wors= woes are made in Mexico." Read mor=...

Economics

Noah Smith: "There have been =wo very different phases of inequality, and two very different types of in=quality. Many of the policies that have been suggested as remedies -- such=as a more progressive tax code or an end to the carried interest loophole =or money managers -- focus on the super-rich. ... But I wonder if we shoul=n’t be focusing on that older type of inequality -- the upper-midd=e class pulling away from the lower 80 percent." =ead more...

Gilbert: "The 2 percent infla=ion target that the world's most important central banks regard as the Gol=ilocks scenario for consumer prices -- not too hot, not too cold -- looks =ess and less likely to be achieved any time soon in many countries. And wi=h crude oil languishing at about $45 a barrel amid a glut of supply, the b=ggest decline in food prices in almost seven years suggests the risk of de=lation is growing." Read more...

News Roundup

Ritholtz (Read the news roundup)

Multifamily investment in U.S. hits record high over last =ear: Read more...

Patterned by birth: =a href="http://link.mail.bloombergview.com/click/5118446.14138/aHR0cHM6L=90aGVpcnJlbGV2YW50aW52ZXN0b3Iud29yZHByZXNzLmNvbS8yMDE1LzA5LzA5L3BhdHRlcm5l=C1ieS1iaXJ0aC8/55086a4c3b35d051538c37ccBb9b01b86" style="text-decoration=none;color:#00b9e7;line-height:1.6em">Read more...

It’s expensive to be poor in America: Read more...

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