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Friday, December 30, 2011

Top Stories from the last 24 hours


Hi David,

These are the top stories from The Next Web over the last 24 hours.

By the way we've got some nifty little things you might not have tried... Have you played with our Mac app or our iPhone app? And we've got a neat free file sharing tool! More coming though, stay tuned :) Cheers!

The Next Web






Moneybox: Happy Days Are Here Again!

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Moneybox
Happy Days Are Here Again!
Don't believe the naysayers: An economic recovery is right around the corner.
By Matthew Yglesias
Posted Friday, Dec 30, 2011, at 07:22 PM ET

Economic forecasting is a mug's game. There are simply too many unknowable factors that affect "the economy" for anyone to make accurate predictions. The Fukushima earthquake and nuclear disaster, for instance, had a noticeably negative macroeconomic impact around the world, and nobody knows what lurks inside the hearts of central bankers. Plus, if I did possess the secrets to the future, I'd be making a fortune as a speculator, not telling you about it.

Still, the application of economic theory should be able to help us avoid the commonplace error of simply assuming that the future will be like the past, that after 18 months of sluggish growth we're due for sluggish growth to continue. The conventional wisdom is that the relatively strong growth in the fourth quarter was a false dawn, and the economy is destined to stall out. This is mistaken. Some tragic unforeseen disaster could hit us, but if it doesn't we should be in for a string of increasingly strong quarters and accelerating growth that put us back on the path to full employment.

My guru in this prediction is Karl Smith, an economist at the University of North Carolina, one of the authors of the Modeled Behavior blog, and one of the few sources who saw through the cloak of pessimism this past summer and accurately called for a strong close to the year. But in a deeper sense, I'm following the long-dead Swedish economist Knut Wicksell, whose work is ...

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December 30, 2011
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Blackstone's Byron Wien Predicted 10 Surprises For 2011, Here's How He Did Blackstone's Byron Wien Predicted 10 Surprises For 2011, Here's How He Did
by Eric Platt on Dec 30, 2011, 7:59 AM
He definitely nailed his $115 oil call.


CHART OF THE DAY: Here's How Every Asset Class Performed In 2011 CHART OF THE DAY: Here's How Every Asset Class Performed In 2011
by Sam Ro on Dec 30, 2011, 10:25 AM
Everything from copper to German bonds.


STOCKS STUMBLE AND THE YEAR'S OVER: Here's What You Need To Know STOCKS STUMBLE AND THE YEAR'S OVER: Here's What You Need To Know
by Sam Ro on Dec 30, 2011, 4:00 PM
Who's ready for 2012?


Well, JP Morgan Didn't End 2011 As The Most Valuable Bank In America Well, JP Morgan Didn't End 2011 As The Most Valuable Bank In America
by Sam Ro on Dec 30, 2011, 2:25 PM
There's a new biggest bank in America.


Is Congress So Inept That They Can't Even Make Money From Inside Information? Is Congress So Inept That They Can't Even Make Money From Inside Information?
by Ben Walsh on Dec 30, 2011, 10:37 AM
A boost to a radical economic theory discredited by the financial crisis.


Asian Stocks Are Inching Up On The Final Trading Day Of Year Asian Stocks Are Inching Up On The Final Trading Day Of Year
by Sam Ro on Dec 29, 2011, 9:02 PM
Who wants to call the close of the year.


European Markets Breathe A Sigh And End 2011 On A Positive Day European Markets Breathe A Sigh And End 2011 On A Positive Day
by Simone Foxman on Dec 30, 2011, 12:08 PM
Out on a bright note.


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