Pull up a chair and a cup of coffee and sift through these articles, curated for your reading pleasure:

• Infrastructure in the Fast Lane (Barron’s)
• Regulations, taxes aren’t killing small business, owners say (Mc Clatchy)
• How the Index Fund Was Born (WSJ)
• Lots of Vitriol for Fed Chief, Despite Facts (NYT) see also Bernanke’s Next Easing May Not Aid Jobless (Bloomberg)
Shiller: The Beauty Contest That’s Shaking Wall St. (NYT)
•Still all about Europe, Greece and Italy:
……-Greece to miss 2011 deficit target (Reuters)
……-Restaurants in Greece refuse to pay VAT rise (FT)
……-Banks Push Greek Bailout Plan (NYT)
……-Parliamentary Influence over Euro Bailouts ‘Naive’ (Spiegel Online)
• H-P’s One-Year Suicide Plan (WSJ) see also Tim Cook’s first moves as Apple CEO (WaPo)
• Soldier, Thinker, Hunter, Spy: Drawing a Bead on Al Qaeda (NYT)
• Market, Politicians Going Separate Ways on Threat of Climate Change (Bloomberg) see also Science Journal editor resigns over ‘flawed’ paper authored by climate sceptic (Guardian)
• Listen Carefully: The Evolutionary Secret To Making a Hit Record  (Scientific American)

What are you reading?


Margulies Cartoons

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

18 Responses to “10+ Sunday Morning Reads”

  1. Orange14 says:

    Of course I’m reading BR’s column in today’s WaPo!!!! ;-)

  2. millefleurs says:

    Add “The Limping Middle Class,” Robert Reich, NYT Sunday Business Section

  3. number2son says:

    From the McClatchy article:

    None of the business owners complained about regulation in their particular industries, and most seemed to welcome it. Some pointed to the lack of regulation in mortgage lending as a principal cause of the financial crisis that brought about the Great Recession of 2007-09 and its grim aftermath.

    What!??? There are people who actually recognize the value of regulation? Outrageous!

    And this:

    Since 2008, [small business owner Rip] Daniels has opened one business and expanded another, hiring as many as 15 people thanks to lower labor costs and an abundance of overqualified job candidates. He credits the federal stimulus effort with helping to keep some smaller firms afloat.

    Read more: http://www.mcclatchydc.com/2011/09/01/122865/regulations-taxes-arent-killing.html#ixzz1WzVSRm4f

    Not that I expect this will persuade the reactionary zealots who read this blog. But it is obvious that it was fiscal policy (tepid as it was) and not monetary policy that has exclusively favored banks and Wall Street that has made a difference. The problem is that the stimulus didn’t go nearly far enough.

  4. Petey Wheatstraw says:

    Chilling analysis of the right wing by a former apparatchik:


  5. Petey Wheatstraw says:

    A chilling take down of the right wing by a former apparatchik:


  6. Petey Wheatstraw says:


    “The problem is that the stimulus didn’t go nearly far enough.”

    Exactly correct that it didn’t go far enough, but I believe that both monetary and fiscal policy must be used if we want to see real results. Quantity and distribution are both important.

    The larger question — especially in light of our unprecedented ability to create zeros with relative impunity, thanks to the purely fiat USDs reserve currency status — is why the most obvious cure isn’t taken.

    It’s not real good for the billionaires when a burger-flipper makes $100K in devalued dollars.

  7. US Debt Video

    This is the type of video that will show people what is really at stake regarding government overspending


    Snooker/Billiards trick shots

    impressive skills


    Google Confirms It Aims to Own Your Online ID



  8. That’s bizarre Petey. I zipped past the comments to post my links and I ended up putting a word in that you used twice. You must have planted that in my subconscious

    ….or maybe we have both been brainwashed somehow. :)

  9. RW says:

    The real return of 10-year Treasury bonds is now less than zero ( http://tinyurl.com/3h37ach ): In a nutshell that means people are paying for safety, not return, and the US now pays less (in real terms) to redeem a note than it received when selling it.

    When you are getting paid to borrow instead of paying and that extends up to ten years into the future then you borrow up to hilt to buy all the things you need, from infrastructure to jobs, over those years.

    You DO NOT punish citizens hungry for work and a country hungry for progress by wasting time on deficits much less balancing the budget.

    NB: Most Tea-Party types do not appear to understand any of this and some are so clueless they will actually declare, in public no less, that the US is ‘bankrupt’ and doesn’t have any money left.

  10. swag says:

    Artist Paints Burning Banks, Attracting Police Attention | The New York Observer


  11. number2son says:

    Thanks for the link, Petey.

    As Hannah Arendt observed, a disciplined minority of totalitarians can use the instruments of democratic government to undermine democracy itself.

    Really, what more needs to be said?

  12. RW says:

    Kash Mansori (via Calculated Risk) “Europe’s Banking System: The Transatlantic Cash Flow” viz

    European banks are shifting their cash assets out of European banks and putting much of them into US banks. …This has happened at a significant rate, with a net transatlantic flow from European to US banks that probably totals close to half a trillion dollars in just six months.

  13. Lariat1 says:

    From the McClatchy piece: Then there’s Rip Daniels. He owns four businesses in Gulfport, Miss.: real estate ventures, a radio station and a boutique hotel/bistro. He said his problem wasn’t regulation.

    “Absolutely, positively not. What is choking my business is insurance. What’s choking all business is insurance. You cannot go into business, any business — small business or large business — unless you can afford insurance,” he told Biloxi’s Sun Herald.

    Read more: http://www.mcclatchydc.com/2011/09/01/122865/regulations-taxes-arent-killing.html#ixzz1X1BNT1lt

    Insurance, workers comp, liability, fleet auto, bldg, health for self and employees, disability ins. for employees, and marine inland ( my favorite).

  14. thought this, from Denninger, was interesting..

    “Nobody is talking about this. That’s 27 – twenty-seven contracts – on the bid at 1146.75. During the trading day. There’s less than a thousand up and down the stack through the entire visible portion.

    This is a tiny fraction of normal liquidity and those sub-100 numbers are more-akin to what you expect in the middle of the night when everyone’s sleeping!

    All that’s left is the computers. The humans have gone home. True liquidity and participation has ended. The people have given up. This is not an isolated incident – as I write this I’m seeing it literally minute-by-minute, and it’s been very common all month. A few minutes ago I saw seven contracts on the bid at the money. Seven – at 9:57 (ET) in the morning.

    The fraud, the phony bids and offers and the high-frequency ripoffs have driven everyone away.

    Go ahead politicians, tell us how important “Wall Street” is to the economy and to you. Let the thieves and liars continue to pollute the markets and screw everyone. Volatility is as high as it is precisely because people are tired of getting buttraped and after a few instances of it they simply say “screw this”, take their money and go home.

    They don’t need the markets, the markets need them, and they’re gone.

    With no depth in the market huge moves become commonplace and are essentially impossible to trade…”
    from Charles Hugh Smith..

    “…The unsustainable nature of debt

    Two observations: 1) Fabricated/parasitic so-called “wealth” destroys value by diluting the value of productive wealth. 2) Debt/credit that cannot be paid back is never an asset and is always a hot-potato liability (needing to be foisted to a greater fool to garner “profit” and transaction fees):

    “The models [modern debt are] based upon had no contact with reality. They assumed unlimited growth and ability to pay. When matched against the reality of people paying ten times their salary for mortgages that actually added more money owed to their principal (i.e. with negative amortization), required no money down, and set up “balloon payments,” large step-ups in payments after a few years) there is no possible way they could NOT default in a predictable span of time.” ( Part II: How the Credit Default Swap Scam Works (October 13, 2008)
    Systemically, all debt that charges a percentage (“usury”) originates in delusion. Debt grows exponentially indefinitely, growth (income and otherwise) cannot. This leads to a widening condition where the fruits of productive “growth” devoted to interest payments increase until those fruits are entirely consumed. (The Elephant In The Room: Debt Grows Exponentially, While Economies Only Grow In An S-Curve (Washington’s Blog)

    Once this happens, stores of wealth (hard assets) begin to be cannibalized to make up for the difference. You see this in Greece with its sale of public assets to private companies, and in middle-class America where people are liquidating retirement accounts to pay for their cost of living.

    This problem is compounded by a private Federal Reserve that lends money into circulation at interest, and then allows the multiplication of this consumer debt-money liability through fractional reserve banking. The money in circulation today could pay only a small fraction of the total private and public debt. That fact alone is evidence of a kind of systemic fraud. “If you just work hard enough, save, and make sensible decisions, you can get out of debt” could only physically work for a bare fraction of the population, given the money-to-debt ratio. The rest would have to simply default to clear the boards…”

  15. LostinATX says:

    reading about the revolving door at the FDA. sigh… http://www.grist.org/article/2009-07-08-monsanto-FDA-taylor

  16. Vilgrad says:

    How come oil prices haven’t collapsed?


  17. cyaker says:

    Barry. Don’t know if you read Science Fiction but He,She & It is all about a future world ruined by Global Warming controlled by Corporations, a desert collective near present day Boston and a Robot Golemb designed to protect them physically and on the Net. With flash backs to ancient Prague and the first Golemb. It’s a great read drawing on several modern themes including enhancing genetics.


  18. cyaker says:

    Several people posted is article from Truthout but none mentioned that the last Note (5) is hilarious


    [5] The GOP cult of Ayn Rand is both revealing and mystifying. On the one hand, Rand’s tough guy, every-man-for-himself posturing is a natural fit because it puts a philosophical gloss on the latent sociopathy so prevalent among the hard right. On the other, Rand exclaimed at every opportunity that she was a militant atheist who felt nothing but contempt for Christianity. Apparently, the ignorance of most fundamentalist “values voters” means that GOP candidates who enthuse over Rand at the same time they thump their Bibles never have to explain this stark contradiction. And I imagine a Democratic officeholder would have a harder time explaining why he named his offspring “Marx” than a GOP incumbent would in rationalizing naming his kid “Rand.”