Links for 01-01-16

• Responding to the challenge of modernization - globalinequality
• Two Cheers for Fannie and Freddie Synthetic CDOs - Credit Slips
• The Current Episteme of the Federal Reserve... - Brad DeLong
• Soaking The Rich, Slightly - Paul Krugman
• Deferred in the ‘Burbs - Mike the Mad Biologist
• Stalin's trick - Stumbling and Mumbling
• Debt and the Racial Wealth Gap - The New York Times
• What are Inventories Telling Us? - Tim Taylor
• Economists’ evolving understanding of the liquidity trap - The Economist