Our early morning roundup:

• Bonds Show 60% Odds of Recession (Bloomberg)
• Fitch: More Than Dozen Banks May Get Rate Cut (Bloomberg) see alsoFitch Places Bank Of America’s ‘A-’ Viability Rating On Rating Watch Negative (Zacks)
• J.P. Morgan Rattles Street (WSJ)
• Greece’s Bondholders Brace for Bigger Losses to Solve Crisis (Bloomberg) see also Europe eyes bigger Greek losses for banks (Reuters)
• HFT is Insatiable – its Hidden Costs (Nanex)
• Did Fannie Cause the Disaster? (NY Review of Books) see also Plan Floated to Spread Risk in Mortgage Bonds (WSJ)
• A Look at Apple’s iCloud (NYT)
Politics:
…..-Obama: What Do You Call a Jobs Bill That Begets No Jobs? (Bloomberg)
…..-Bachmann: ‘I Want To Adopt The Reagan Tax Plan’ (Psst…Those Taxes Were Higher!) (TPM)
• Who Really Owns The NYPD? Turns Out It’s Not Such A Rhetorical Question (Crooks And Liars)
• Never Ask a Busy Person to Lunch. Here’s Why (Both Sides Of The Table)

What are you reading?

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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.

17 Responses to “10 Friday AM Reads”

  1. VennData says:

    Rush Limbaugh: Romney Is Not A Conservative

    http://www.realclearpolitics.com/video/2011/10/12/rush_limbaugh_romney_is_not_a_conservative.html

    The GOP establishment is kidding themselves if they think they can crank up the Obama is a Socialist Muslim/African etc… etc.. aka “GOP media machine” nonsense to “10″ and turn it off when it’s time to vote. And with Obama leading any GOP challengers…

    “…Mr. Romney remains the strongest in a head-to-head match against President Barack Obama, according to the poll, trailing the president 46% to 44% among all adults polled. Mr. Cain lags behind the president by 11 percentage points, while Mr. Perry trails by 12 points…”

    http://online.wsj.com/article/SB10001424052970204774604576627282855836292.html

    ..what are they thinking?

    …what if… they have enough voters fooled to maintain their veto in the Senate. That means no tax hikes for their financial backers, the Super rich, …er… a.. the Job-Creators under any circumstances. We’ve seen the GOP keep fighting even while the US debt rating is cut until Democrats do the responsible thing and fold.

    In other words the GOP can have the best of all worlds: responsible, forward-thinking, data-based Democrats can run the country – knowing they can stand up for their raison d’etre keeping taxes low for the very, very rich and keep their offices/high-paying jobs/ talking head positions.

    We’ve reached a steady state in US politics.

  2. freejack says:

    New York Daily News reports NYPD has set up a checkpoint at Broadway and Wall, Police are checking IDs for access to Wall Street
    http://live.nydailynews.com/Event/Occupy_Wall_Street_Showdown_at_Zuccotti_Park

  3. rktbrkr says:

    Restocking inventory. Legal impediments slowed things down for awhile but the dam is starting to spring leaks!

    http://www.miamiherald.com/2011/10/13/2451238/foreclosure-filings-back-on-the.html?source=patrick.net

  4. franklin411 says:

    Interesting story about the NYPD. Kinda like the Gestapo, but without concentration camps for political prisoners…for now…

  5. VennData says:

    Business groups blast Cain’s 9-9-9 plan as job killer

    GOP voter loves a slogan, the GOP media machine has them trained. GOP voter even runs the guy to the top of the polls on a slogan (no talk about “European” VAT taxes here) without even a cursory look at … THE DATA. At least the elite eventually look…

    http://www.miamiherald.com/2011/10/14/2453651/business-groups-blast-cains-9.html

    …unless you’re like me and realize that the operators of the GOP media machine ad men use data every once in a while, especially when it’s time to “get behind Romney.”

    But it’s too late GOP media machine operators. You have a Tea Party problem. You have a bunch of nuts who think that we can live in a great society with hardly any taxes, hold the US credit rating hostage for no reason at all, and pretend Obama’s magnificent foreign policy is somehow “diminishing” America.

    The GOP media machine is like the show Mad Men (which skewers so many things the GOP sought to defend over a generation ago) operating in a different era.

    Reject and end your Maginot line, GOP. You need to start using data ALL the time. But then you’d be like Obama.

  6. mathman says:

    Oh come on, we’re doin’ great! We’re #1, we’re #1 . . .

    http://news.yahoo.com/blogs/lookout/more-americans-chinese-t-put-food-table-132752601.html

    okay, maybe not, but . . .

    i found a song i thought you’d like:

    It’s called Little Golden Age and it’s by Wolf Parade

    http://www.youtube.com/watch?v=IC6s6axj3m0

  7. rd says:

    News stories on “Occupy Syracuse”:

    http://www.syracuse.com/news/index.ssf/2011/10/occupy_syracuse_protesters_ask.html

    Banks renting city police occurs more than in just NYC:

    http://www.syracuse.com/news/index.ssf/2011/10/bank_hires_uniformed_syracuse.html

    I work in consulting. Our billing rates have to reflect ALL costs or we can’t make money. Aside from various ethical and legal issues of having police rented to specific entities, I cannot fathom why the hourly rental rate does not cover all costs associated with that person’s employment for an hour. All fringe benefits plus administration and insurance (or self-insurance) costs need to be applied or the public is directly providing another subsidy to these proft-generating entities.

  8. MikeDonnelly says:

    Reading the Census Retail Sales report up 1.1% in Sept (Michigan Confidence was up in Sept, and employment was strong) but looking at big revisions in August data. Nearly a full percentage point change from what we were told in the August report, and what August data has been revised to in this report for the following industries. Worse: Auto & other was -0.3% now -1.1% Better: Furniture was -0.2% now 0.7%, Building supply was 0.2% now 1.2%, Misc. was -2.2% now 0.3%, Food services was -0.3% now 0.4%.

    I am not aware that changes of this size are normal.

  9. Molesworth says:

    You have to watch this.
    From TED conference
    Filter Bubbles. Google, Facebook, Huffington, etc all editing your searches without you knowing:
    http://www.wimp.com/filterbubbles/

  10. rd says:

    The checking IDs at a Wall Street checkpoint is interesting.

    Does Bloomberg have plans to turn Wall Street into a gated community complete with security fencing and rent-a-cops controlling access?

  11. Dow says:

    Anyone else having problems longing in to Barry’s other posts?

  12. Frwip says:

    A weird one in yesterday’s Washington Post, arguing against recession

    http://www.washingtonpost.com/business/economy/the-simple-math-of-recession/2011/10/12/gIQAszvWiL_print.html

    Argument is : pro-cyclical sectors – housing, automobile, etc. – are already extremely depressed and backlogged and businesses overall are running extremely lean. So there isn’t much room for an endogenous downward shock through either restructuring/layoffs or delayed and cancelled orders for durables.

    Not very convincing. It blissfully ignores that demand shocks can turn into supply/capacity slumps if they last for too long. But intriguing nonetheless. I see that playing role to anchor the economy against another leg down, at least in the short term.

    What da ya think?

  13. Re: HFT is insatiable

    So they are going to escalate their ‘trade’ war building larger and larger battles setting up all the dominoes. One day some trader is going to come in, put a buy order in for 100 shares and blow them all to smithereens

    Oh, the irony

  14. AHodge says:

    THE $4 TRILLION FANNIE FREDDIE SWITCHEROO
    re fannie i tend to take gretchen and josh over NYReview of Books
    tho they may overdo a little blaming all on mortgages

    heres the latest Fannie and Freddie for data geeks
    the flow of funds Balance Tables L124 and L125 now show almost all the guaranteed pools as FF liabliities
    this roughly $ 4 Trillion switcheroo–increase of FF debt owed– happened as of end of 1Q 2010
    while the liablities of the pools drops from $5.376 Trillion to $1.007 Trillion

  15. Joe Friday says:

    Did Fannie Cause the Disaster? (NY Review of Books)

    RightWing Zombie Propaganda never dies, no matter how many times you drive a stake in it’s heart.