Fund managers joining Buffett in preparing for an ‘ugly’ downturn

"Beinner highlights the increase of global debt, now upwards of $237 trillion and the way the debt has been dispersed as risks to the economy. Rather than banks holding most of the debt as it happened in the financial crisis, this time it’s hedge funds, private equity and investment managers holding most of it. Also worrisome, he says, ratings agencies are again being overly generous with their appraisals allowing for companies with very high debt levels to gain investment-grade ratings."

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The EU’s Copyright Proposal is Extremely Bad News for Everyone, Especially Wikipedia

"Sites will have to pay to license the technology to match submissions to the database, and to identify near matches as well as exact ones. Sites will be required to have a process to allow rightsholders to update this list with more copyrighted works. Even under the best of circumstances, this presents huge problems."

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