Wednesday Late PM Reads
Here is my train reading for tonight:
• Grantham: ‘No market for young men’ (Market Watch)
• Stock ETFs For Income-Seekers (Smart Money)
• Buffett’s dad was the Ron Paul of his day (The Examiner)
• Bernanke Battling Housing Collapse Shows Fed Has Few Tools to Heal Economy (Bloomberg) see also How To Prevent a Depression (Slate)
• What might a Greek default look like? (BBC News) see also Merkel Lessens Fears Over Greece (WSJ)
• Why The Original Obama Stimulus Was Such A Disaster (Business Insider)
• WTF? GOP To Fed: Let Economy Fail (Capital Gains and Games) see also As Fed meets, Republicans warn against policy move (Reuters)
• HP: Changing minds through social media, but not how you might think (HP)
• Chipotle’s Ells: Noodle Binge Inspired New Eatery (Bloomberg)
• Things Apple Is Worth More Than (The Atlantic)
What are you reading?
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September 21st, 2011 at 5:41 pm
Michael Hudson – Russian Ripoff
http://michael-hudson.com/2011/09/russian-ripoff/
The Pillaging of Latvia
http://www.counterpunch.org/2011/09/19/the-pillaging-of-latvia/
(h/t Jesse’s Cafe)
September 21st, 2011 at 6:37 pm
They’re baaacckk.
http://www.nytimes.com/2011/09/22/us/politics/house-defeats-stopgap-spending-bill-with-disaster-relief-hanging-in-the-balance.html
September 21st, 2011 at 6:56 pm
Michael Hudson – Russian Ripoff
http://michael-hudson.com/2011/09/russian-ripoff/
September 21st, 2011 at 9:18 pm
The Federal Reserve is out of ammunition. QE1 and 2 didn’t work and now a prolonged period of near zero interest rates has proven itself ineffective as well.
Here’s what the Federal Reserve had to say about the markets and the American economy back in February 2011 after just 3 short months of QE2
Wrong! Yet again.
September 21st, 2011 at 11:35 pm
this ~Idea..”The Federal Reserve is out of ammunition.”, is, to me, Absurd.
One, when discussing the Institution, is discussing a Firm that has the, Literal, capacity to ‘Coin’ the “Coin of the Realm”, again, Literally, ‘out of Thin Air’..
How, really, esp. given the “Petro$”-Nature–of such ‘Coin’, could such an ‘Institution’ “run out of ammunition”?
I’d Love to Learn how that’s ‘possible’..
September 22nd, 2011 at 12:29 am
@MEH,
This is where the bears often fall down IMO. The very fact that, as ‘helicopter’ Ben has so famously stated, the Fed could literally drop dollars out of helicopters, shows that they will not run out of ammo as long as people are greedy enough to take and trade the dollars they print. I don’t know if it is a blind spot or people talking their book are being dishonest but the topic usually comes up at a certain point in the Fed cycle. Then we get the Fed pulling out another rabbit out of their hat. This makes the bears look dumb and probably loses them a large group of new followers.
I’m not attacking you here Debbie. I just tend to find this trend among the uber bears and used this as an occasion to write about it
September 22nd, 2011 at 1:39 am
Psychologically, at some point, the way to get companies investing and consumers spending their cash hoards will be a little deflation.
The markets are out to slaughter as many hogs as they can while questioning motives and strategy (bull and bear alike) Sometimes it’s best to tune out the noise and remember the script. Both sides against the middle.
http://www.youtube.com/watch?v=Gxjuom-jaL0