My train reading:

• U.S. retail sales rise scant 0.1% in December (Market Watch)
• Why Zombie Banks Hate to Write Off Bad Loans (Bloomberg) see also Banking Overhaul Reflects New, Leaner Era (WSJ)
• The view from SocGen Conference (Economist)
• Foreclosure filings hit four-year low in 2011 (Reuters) see also Foreclosures expected to rise, pushing home prices lower (LA Times)
• Why Merrill Lynch’s small-account penalty is a big mistake (Investment News)
• Here’s A Credit Card That Looks To Trap ID Thieves By Making Them Think They’re Clever (Consumerist)
• Study Confirms: News Networks Owned By SOPA Supporters… Are Ignoring SOPA/PIPA (TechDirt)
• Big Banks Struggle to Help Customers on Twitter (NYT)
• Conservative activists scrambling for a strategy to block Romney (Washington Post)
Equal time: The Year of Microsoft (Slate)

What are you reading?


Source: LA Times

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.

15 Responses to “10 Thursday PM Reads”

  1. Winston Munn says:

    It’s hard not to paraphrase South Park when Mitt Romney is mentioned.

    Mitt Romney wins the nomination
    dum, dum, dum, dum, dum

  2. swag says:

    Hot Moocher on Looter Action (another scary movie from the disciple of Ayn Rand)

  3. Moss says:

    More bogus claims from the Big Crony clan claiming that Corporations are above the law of the common people.

  4. Bill in SF says:

    Investors Say Supply Sider Arthur Laffer Backed a Ponzi scheme

    “HOUSTON (CN) – Fifty-two investors claim fund managers associated with supply-side economist Arthur Laffer took $3.1 million to prop up a Ponzi scheme, then said nothing as their money was “wasted with no reasonable expectation of recovery.”
    Lead plaintiffs Ronald and Lavonne Ellisor sued David Wallace, Costa Bajjali, and their entities Wallace Bajjali Development Partners LP, Wallace Bajjali Investment Fund II LP, the Laffer Frishberg Wallace Economic Opportunity Fund LP, and Arthur Laffer in Harris County Court.”

  5. louis says:

    [Laughter] [Laughter] [Laughter]

    Bailout anyone?

    [Laughter] [Laughter] [Laughter]

  6. jaymaster says:

    Want 8% annual returns? They’re still available. You’ve just got to be patient.

    A good point about dividend stocks that is obvious upon reflection, but not commonly discussed. Unlike bonds, yields can increase over time. It’s a big part of my personal strategy right now, and an edge I think small, long term investors have over shorter term focused professionals.

    The example of PM hits home with me, because I bought it around $39 a couple years ago. Now it’s at $76, and paying out about 4%. That’s 8% for me!

  7. ga082003 says:

    This is how the ECB has changed over the months

    Comparison of language in table

  8. Arequipa01 says:

    It’s worse than I thought. The country is so far off the rails that now even the hippies are fascists!

    “My girlfriend knows Vermin Supreme from Burning Man or some other hippy freak show. She explained to me the sinister reason for the free pony to all Americans policy. Yes, you get a free pony. However, it is a personal identification pony. You must have it with you at all times, even if you are just running to the CVS on the corner and even if it is dead. If you are found without your pony, you are presumed to not be a US citizen and therefore in the country illegally. You will be deported if discovered without your pony or pony corpse.

    Please do not be fooled by Vermin Supreme’s free pony policy. It is an evil, fascist trap.”

  9. mathman says:

    The one-sided distribution of wealth continues (leading to “success” for the top tier – one answer to “what Wall Street has done for me”):
    Further rise in poverty seen with slow recovery

    “(Reuters) – Nearly 10 million more Americans have fallen into poverty since the 2007-2009 U.S. recession began, and the number is expected to increase due to the slow pace of the economic recovery, a study released on Wednesday by Indiana University showed.

    The number of Americans living in poverty grew to 46.2 million in 2010, up 27 percent from 36.5 million in 2006, the year before the start of the recession, the study found. During the same period, the U.S. population increased 3.3 percent.

    The U.S. population is roughly 310 million people.

    Poverty is defined in the United States as income below $22,113 a year for a family of four.”

  10. rktbrkr says:

    Paraphrasing South Park again…

    dum dum dum…

    Ben Shalom and Tim (especially) missed the housing bust.How/why were these clowns reappointed?

  11. rktbrkr says:

    Barry’s Shopmas grinch daily double. Not only was there coal in the retailers Shopmas stockings but Scrooge also laid off all those thosands of temp workers who were waiting in vain for round the clock shoppers.

    Even online sales were off – discretionary shoppers waiting to pick the bones in January?

    Car sales were relatively strong, national car fleet is old and nothing lasts forever. I’m watching for price wars as Jap Inc looks to recover market share after tsuami and GM (Gummint Motors) looks to clear the dealers lots with rebates after booking out the door factory sales.

    all those reports of a robust holiday shopping season were made by people too much into the holiday spirits as retail sales did not surge in December,” said Joel Narof

    Electronics were touted as one of the strongest sectors for holiday shopping. But the Commerce Department’s data showed a 3.9% monthly decline at electronic stores.

    Sales at online retailers, another supposed holiday hotspot, fell 0.4%.

    “The holiday season may not have wrapped up quite as nicely as anticipated, particularly given the steps taken by many retailers to draw in last-minute shoppers through hefty discounts,” wrote Jim Baird, chief investment strategist for Plante Moran Financial Advisors, in a research note.

    In a separate report Thursday, the Labor Department said initial claims for state unemployment insurance jumped 24,000 to 399,000 in the latest week.

  12. rktbrkr says:

    Zombie banks resist writedowns (and dilutive stock sales) while liquidation of foreclosed properties ramps up after robo (scandals).

    It’s simple, the TBTF know they will get a better deal from the Fed & Treasury than they would get in the free market so they must wait until the situation explodes into a crisis. It’s like a sick person without health insurance holding off for charity treatment in the emergency room.

  13. Mike in Nola says:

    re: MSFT

    Coincidentally, the two has-beens managed to produce the hit of the Consumer Electronics Show this week: the Nokia Lumia 900. Named best of show by CNET and others, it looked to have the most buzz of any product judging from the tech blogs twitter feeds. It is quite attractive and coveted by most of the reviewers, except Mossberg, of course. Even Ballmer’s excruciatingly awkward, uninformative, and, fortunately, last CES keynote did not dampen it.

    It also came out that MSFT, Nokia and other phone partners are finally doing what it should have over the past year: spend a couple of hundred million providing substantial training and incentives to store personnel on Windows Phone where the sales really happen; most people walking into a store have no idea what they want or what’s available, other than having heard of Apple or Android. It has apparently been a problem that the store personnel would more or less refuse to show customers Windows Phones because they didn’t know much about them and didn’t have any particular reason to. As someone pointed out somewhere about it being too late, only half of current US mobile users have smartphones and that share is much lower in the rest of the world. A lot of users up for grabs. Nokia seems particularly focused on winning back a share of the US market and has a lot more experience in consumer markets than MSFT. It also has lot more experience in connsumer markets outside the US than anyone else, and that’s where the real long term money will be made.

    Time will tell.

  14. Mike in Nola says:

    Morning Joe showing a SC primary ad. Republican ads are funny. In trying to tie Romney to John Kerry, it shows Romney saying something in French and Kerry saying: “Laissez les bon temps roulez,” as if being able to say that brands you as a French speaking surrender monkey. If so, I suppose just about everyone in NOLA is, too.