My morning reads to start the week

Hardly a contrarian signal: Why stocks will beat bonds over the next 20 years (Market Watch) see also After 12 years, bulls see stocks coming out of rut (LA Times)
• 10 Stocks Analysts Say to Sell (Smart Money)
• The Fed’s Sleazy Idea Of “Transparency” (Implode Meter Blog)
• Enron’s ‘Teflon Lou’ (The Daily)
• Unemployment Scars Likely to Last for Years (WSJ)
• Agency vs Principal: The Root Of Some Evil (Epicurean Dealmaker)
• A New Year, the Same Ol’ Pessimism (WSJ) see also Wall Street Is Squeezed by Slowdown in Trading (WSJ)
• A Tech Show Loses Clout as Industry Shifts (NYT)
• Death-by-Smartphone Spurs Camera Makers (Bloomberg) see also Everything you need to know about buying a camera (The Verge)
• Remarkably dry and warm winter due to record extreme jet stream configuration (Wunderground)

What are you reading?

Wall Street Prepares to Take Sharp Pay Cut


Source: (WSJ)

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 Monday AM Reads”

  1. gordo365 says:

    Why do I feel the need to shower after reading Larry Summers on failings of capitalism?

    http://blogs.reuters.com/lawrencesummers/2012/01/09/why-isnt-capitalism-working/#comment-359

    His last sentence “It is not so much the most capitalist parts of the contemporary economy but the least—those concerned with health, education and social protection–that are in most need of reinvention.”

    Translated — “Wall street is working – the soup kitchen is broken”.

    Really?

  2. SivBum says:

    Thanks to gordo for the Summers’ link. The article said change is needed, just not with an axe to current state of Capitalism. It is also true that most stuffs that we can do without are getting cheaper – you can get a Windows XP with 1GB/100G PC loaded with Software for less than $100. It’s also true that heathcare, higher education and food/energy costs have escalated more than inflation. Overall, a piece for thoughts and not advocating anything substantial. He is getting cautious after making his mess in Wall Street since Clinton years.

  3. SivBum says:

    Moss,

    Here is another take of the insider-trading “I have no knowledge that my wife shorted $500,000 … ”

    http://uk.finance.yahoo.com/news/instant-view-snb-chief-hildebrand-140411862.html

  4. nofoulsontheplayground says:

    “VXV Heralding a Return to Normalcy”

    http://vixandmore.blogspot.com/2012/01/vxv-heralding-return-to-normalcy.html

    “The VXV chart looks very similar to April 2009. At that time the key takeaway was systemic healing is continuing and the risk of systemic failure is diminishing. “

  5. nofoulsontheplayground says:

    Peter L. Brandt “January Forex Effect – Euro/USD Headed to 1.08″

    http://peterlbrandt.com/january-forex-effect-eurusd-headed-to-1-0800/

  6. Scotty J says:

    Government Set to Sell Foreclosures in Bulk:

    http://www.cnbc.com/id/45925851

  7. swag says:

    A long, often hilarious, sometimes fascinating Reddit thread -

    How are white people stereotyped in predominantly non-white cultures?

    http://www.reddit.com/r/AskReddit/comments/o8awl/how_are_white_people_stereotyped_in_predominantly/

  8. AHodge says:

    Larry Summers–moving into first place as dumbest former harvard president ever
    possibly dumbest treasury sec
    tough competition there – though most here know his dereg record
    you could also read his optimistic Darkest before the Dawn
    (about the economy in the march 2008 FT)

    his latest http://www.ft.com/intl/indepth/capitalism-in-crisis
    despite promising title, his contribution is there is no problem except we need more spending

    i may need to move him to my select category of not just randomly wrong but systematically
    bet on the opposite— wrong
    right now includes only 2 or three people including the legandary Dick Bove

    outstanding monday selection here even by your usual high standard, thanks

  9. AHodge says:

    http://www.bloomberg.com/news/2012-01-09/sarkozy-wins-merkel-backing-for-introduction-of-financial-transaction-tax.html

    a few years ago i would have been adamantly against this..
    it would certainly mean the end of Wall st as we know it
    probably not as good as fixing accounting, but nothings perfect

  10. VennData says:

    “….Watch the Republican primaries, and you can feel: the American political system is working. The GOP is discarding the unqualified and irresponsible candidates and rapidly converging on the person in the race who could actually do the job of president…”

    ….aka The “Tea Party” candidates… LOL GOP voter gets suckered again.

    http://www.cnn.com/2012/01/09/opinion/frum-recess-appointments/index.html

    Obama and the Democrats have cut Payroll taxes, overturning three decades of effort by the GOP to cut taxes for the rich and raise them on wrokers and small business (started by Reagan who started in class warfare system of forcing Social Security and Medicare tax payment excesses to cover the day-in-day-out gov’t budget to cover the shortfalls of their tax cuts for the rich.)

    The pro-choice, pro Wall Street, inventor of Romneycare is a shoo-in to get the GOP nomination. You GOP voters get used again. ROFL.

  11. Mike in Nola says:

    An example of how the Federal Government treats elderly and disabled disaster victims.

    http://www.chron.com/news/houston-texas/article/To-collect-debt-FEMA-takes-part-of-Ike-victim-s-2448267.php

    But Jamie gets to keep all the bonuses he has reaped courtesy of the bailouts.

  12. willid3 says:

    wall street and banks were really the root of all evil. or at least if you only look at the right data correctly of course
    http://epicureandealmaker.blogspot.com/2012/01/root-of-some-evil.html

  13. willid3 says:

    for austerity to work, it requires space aliens for all of EU, so that all may export their way to good health. same requirement for all of the others too, including us

    http://krugman.blogs.nytimes.com/2012/01/09/germans-and-aliens/

  14. jpmist says:

    Wall Street pay cut? Oh, please, my BS meter went off the scales on that one. Garbage in, garbage out by the most business friendly, least objective source possible …

  15. philipat says:

    @AHodge

    I hope you have Ben Stein in that list?

    Regarding Bankers pay cuts, IMHO it couldn’t happen to nicer bunch of guys!!