Good morning. The recap of last week: worst start of the New Year for European stocks since 1970

http://ftalphaville.ft.com/2016/01/08/2149632/european-stock-markets-wonder-if-china-might-send-its-plunge-protection-team-their-way/

El nino is heating up…

http://uk.businessinsider.com/what-el-nio-will-do-to-the-global-economy-2015-10

The weak economic growth is not linked to secular stagnation but to the financial crisis. I thought this was already stated by Reinhart & Rogoff four year ago, but here is the BIS

http://www.telegraph.co.uk/finance/economics/12083682/Is-the-whole-theory-of-secular-stagnation-a-hoax.html

Spot your country and see if it changes anything…

https://www.stlouisfed.org/on-the-economy/2015/december/what-causes-countrys-standard-living-rise

Ah yes, let’s blame it all on the Fed….

http://www.businessinsider.com/stock-market-sell-off-worst-in-4-years-2016-1

Higher household debt=lower growth. If that is true, than the US economy is heading for a boom!

http://www.nber.org/digest/jan16/w21581.html

The last blog in a serie of three by Ben Bernanke on monetary policy and the dollar

http://www.brookings.edu/blogs/ben-bernanke/posts/2016/01/07-dollar-international-role

Here is the negative impact from oil prices on the labour market

http://www.businessinsider.com/mining-and-logging-losing-jobs-2016-1

The Disney copyright trick

http://www.ritholtz.com/blog/2016/01/how-mickey-mouse-evades-public-domain/

And the US schedule for the week to come

http://www.calculatedriskblog.com/2016/01/schedule-for-week-of-january-11-2016.html

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