My morning reading material:

• Analysis: Bernanke paves the way for QE3 (Calculated Risk) see also Bernanke Makes Case for More Bond Buying (Bloomberg)
• Why Home Prices Have Much Further To Fall (Advisor Perspectives) see also Don’t Count on Housing Market to Lead Recovery (Bloomberg)
• A Who’s Who of Davos Absentees (DealBook)
• Bank of America Settlements Impede Fraud Probe, Arizona Says (Businessweek) see also Activists Call for Breakup of Bank of America (DealBook)
• Suing JPMorgan over MBS? Say thanks to bond insurers (Reuters)
• California calls $25-billion mortgage settlement ‘inadequate’ (LA Times) see also Eric Schneiderman promises aggressive financial fraud probe (LA Times)
• Uncanny Valley: The Real Reason There Are No Skyscrapers in the Middle of Manhattan (Observer)
• How (not) to defend entrenched inequality (Crooked Timber) see also Romney’s Tax Bill, European Style (Economix)
• How a late night talk show works (Storify)
• Turn off, tune in, drop out (Science News) see also Neural correlates of the psychedelic state as determined by fMRI studies with psilocybin (PNAS)

What’s on your to read list?

>

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 Thursday AM Reads”

  1. JasonPappas says:

    Barry, how about the elephant in the room: the Fed holding rates at zero until 2014? Isn’t this the biggest story of the decade? I remember how you properly castigated Greenspan (in BN) for holding rates at 1% for several years. Now Ben is holding rates at zero for twice as long. Shouldn’t we be yelling at the top of our lungs “WTF?” (Excuse my French!) Best Regards – Jason

  2. VennData says:

    Gingrich and Reagan

    http://www.nationalreview.com/articles/289159/gingrich-and-reagan-elliott-abrams

    Gingrich’s Reagan apostacy! The highest insult to all conservatives! To all REAL Americans!!! You must support Romney NOW! This isn’t about back room deals, cold hard cash, or jobs in the next administration! This is about turning around our horrible equity markets, which we didn,’t buy into in 2009 while Obama ruined America!!!

    Thou shalt not take Reagan’s name in vain.

  3. wesleybeckner says:

    In response to your Schneiderman article:

    http://www.truth-out.org/schneiderman-selling-out/1327519667

    It doesn’t make sense to me. I think Schneiderman must’ve been bought and sold.

  4. howardoark says:

    http://ftalphaville.ft.com/blog/2012/01/26/852631/the-qe-exit-inflation-paradox/

    I think what they’re saying is that about the time the Fed wants to start taking away the punch bowl to fight inflation, they’re also going to be unwinding the QE. So they’re going to be selling bonds left and right (which should lower bond prices and therefore raise rates) while the Treasury rates on new bonds are also rising. The glut of supply will be inflationary (rather than the intended effect) and we’ll go into some sort of death spiral. At least that’s what I got out of it though it doesn’t make a lot of sense to me.

  5. VennData says:

    Re the Fd articles…

    “… Bernanke has “a very dovish attitude,” said Robert Eisenbeis, a former research director at the Federal Reserve Bank of Atlanta who’s now chief monetary economist for Sarasota, Florida-based Cumberland Advisors. “They downplayed the extent to which the economy seemed to be doing a little better and said the employment situation is a major concern.”

    Well let’s see. The economy has pulled out of its tailspin and a recovery exists, uninterrupted. Obama praises the work of the Fed, the GOP candidates say the Fed is evil, threaten him ala Perry, treat him like an evil conspiritor like Paul and rail at him. So Bernanke will do anything to have Obama renominate him, not a potential, though increasingly unlikely GOP President in 2013.

    He is responding to incentives. How homo-economicous of him.

  6. Tim says:

    Re: the Science News/PNAS links on Psylocybin, and all that’s currently going on in our crazy world….
    ….anyone know where you can get some !? ROFL :-)

  7. theexpertisin says:

    Road kill.

    Based upon the current GM stock price, taxpayers should have tread marks on their backs.

  8. Arequipa01 says:

    For those who can read Spanish (os Brasileiros tambem devem le-lo), I recommend a piece out of Peru on overfishing: http://idl-reporteros.pe/informe-de-pesca/

    I saw a link to it at a new e-zine on Latam called ‘tuerto’. Look it up.

    BTW, IDL-Reporteros is under the direction of Gustavo Gorriti, a journalist who wrote the definitive piece on Sendero Luminoso/Shining Path, titled Sendero (of course, the CIA couldn’t be bothered to read it-why undermine a fantasy with some facts and analysis).

  9. AndrewBW says:

    @Tim – If you find some let me know, I could use a hit too!

  10. Jojo says:

    Obama Wins in Poll as Investors Resist Gingrich
    Mike Dorning | Bloomberg
    January 25. 2012

    U.S. investors are rooting for Mitt Romney and those overseas are for Barack Obama. Newt Gingrich is generating little enthusiasm anywhere.

    The expectation in markets of every region is that Obama will be re-elected president in November, an outlook shared by 72 percent of respondents worldwide in a quarterly Bloomberg Global Poll of 1,209 Bloomberg customers who are investors, traders or analysts, conducted Jan. 23-24.

    ….

    http://finance.yahoo.com/news/obama-wins-poll-investors-resist-050000548.html?l=1

  11. Francisco Bandres de Abarca says:

    Who needs ‘magic mushrooms’, when you could enjoy this?:

    http://bites.today.msnbc.msn.com/_news/2012/01/25/10228379-ode-to-haggis-bring-out-your-inner-scot-with-a-burns-supper

    Truly, if enjoying a reading of Robert Burns’ “Address to a Haggis” and the fun after the ensuing cry of “Alright, let’s get pissed!” isn’t interesting enough for you . . . well then. A good single malt scotch and a pretty gal . . . that should be more than enough to convince the most hardened cynic that there is indeed a God.

  12. Arequipa01 says:

    From BBG – a Canadian O&G operation in Neuquen, Argentina- Americas Petrogas (in conjunction with Exxon/Mobil) has made a big announcement. I wonder if this means it will be easier or harder for Kenneth ‘I ain’t no Vulture’ Dart to get his payout (cómo se dice chantaje en inglés).

    “Argentina’s shale oil and so-called tight-gas resources may exceed the 774 trillion cubic feet (21.9 trillion cubic meters) estimated by the U.S. Energy Information Administration, Vaca Coca said. Argentina’s shale resources are the third-largest in the world after China and the U.S., the EIA said in an April 2011 report. ”

    774 trillion cf is a lotta gas, baby. That must’ve been one big ole vaca mahuida.

    BTW, yours truly recommended a look see at BOE.v (Americas Petrogas) numerous times, starting in July of 2009 (when it was trading @ .57-.62). Now at 3.75. Just saying…(cough) you’re welcome (cough)…

  13. Julia Chestnut says:

    They got people shrooming and took pictures of their brains with an MRI? I bet I know where they could get a really, really large population of potential subjects who wouldn’t be concerned about the fine print in the release and informed consent forms. . . .ever been to Burning Man? Crap, they could just set up a tent and people would probably come in and participate just to sit in the shade for an hour, to say nothing of the free drugs.

  14. rktbrkr says:

    Fed says recovery is years away…
    The Federal Reserve, declaring that the economy would need help for years to come, said Wednesday it would extend by 18 months the period that it plans to hold down interest rates in an effort to spur growth.

    The Fed said that it now planned to keep short-term interest rates near zero until late 2014, continuing the transformation of a policy that began as shock therapy in the winter of 2008 into a six-year campaign to increase spending by rewarding borrowers and punishing savers.

  15. JimRino says:

    The FED action is an attempt to recover the Housing Market.
    Are you saying, rktbrkr, that if we put a Republican in the Presidency, that he will raise interest rates and KEEP Housing in a Depression? I don’t think that’s sound policy.

  16. Bob is still unemployed   says:

    Thanks for finding and posting that Road Kill cartoon. it has been said that a picture is worth 1,000 words. That cartoon is worth, easily, ten or a hundred times that many words.

    What an awesome visual summary of just how bad it is when politics are allowed to determine policy.