My train reading:

• Europe May Be Planning 1.5 Trillion Euro Backstop Fund (Spiegel.de) versus Hedge Funds Brace for Euro Zone Break-Up (NYT)
This is HILARIOUS: SEC Enforcement Actions (Securities and Exchange Commission)
Why use an advisor? Scapegoats and Trigger Men (The Reformed Broker)
• The Man Who Fired Greenspan (Naked Capitalism)
• Fed Two-fer:
…..-I Don’t See How This Can Continue (Tim Duy’s Fed Watch)
…..-Consumer Saving is not Usually a Bad Thing (Bob McTeer’s Blog)
• Facebook’s IPO will be way overvalued (Market Watch)
• Where Would We Be Without Apple & CAT? (WSJ) see also An Apple TV set in 2012? (Fortune)
• To Colleagues: I’m Outta Here (WSJ)
• CBS Greenlights Comedy From Louis C.K., Spike Feresten (Hollywood Reporter)
• Even CEO Can’t Figure Out How RadioShack Still In Business (The Onion)

What are you reading?

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Down with the Ship? Not so fast!

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.

13 Responses to “10 Mid-Week PM Reads”

  1. swag says:

    How to get the most bang for the buck out of your political contributions (hint: don’t blow your cash on the presidential election) –

    http://www.washingtonpost.com/blogs/plum-line/post/want-to-make-your-money-count-dont-give-it-to-obama/2012/02/01/gIQA3TbTiQ_blog.html

  2. Futuredome says:

    Barry, when are you going to admit that the private sector has already recovered to trend growth and if the government was continuing stimulus we would be growing above trend? Amazing how people don’t get this and whine about the “slow” speed of the recovery.

    Heck, you are looking at only a sliver of the federal “austerity”. Going full bore would=contraction and then private sector contraction.

    ~~~

    BR: When I see GDP, Job growth and wages return to trend.

    I dont know what you are looking at in terms of data, but what I see is a typical post-credit crisis recovery

  3. Frwip says:

    Holy molly! RadioShack still exists!

    No. It really does. Not just for entertainment value. I’ve checked. It still exists, for real, and it’s even on the NYSE.

    http://www.nyse.com/about/listed/lcddata.html?ticker=RSH

    WTF?

  4. Jojo says:

    Bloomberg Businessweek
    January 26, 2012

    Everything You Know About Peak Oil Is Wrong
    We’re not running out of resources. Quite the contrary. And in our abundance lies a paradox

    At some point in the coming months, the confrontation between the West and Iran over the Islamic republic’s nuclear program may reach a breaking point. Even assuming the two sides manage to avoid full-fledged military conflict, the crisis could still cause significant disruption to the world economy. An embargo against Iranian oil exports, or a move by Iran’s leaders to close the Straits of Hormuz–or both–could send the price of oil soaring and jeopardize the re-election hopes of leaders from Paris to Washington. And as happens with every oil crisis, pundits will insist that the pain we’re feeling is nothing compared to what it will be like when the world finally runs out of black gold.

    We’ve been warned before. Four decades ago this year, five scientists from the Massachusetts Institute of Technology published an influential set of predictions regarding the sustainability of human progress. Titled Limits to Growth, their report suggested the world was heading toward economic collapse as it exhausted the natural resources, such as oil and copper, required for economic production. The report forecast that the world would run out of new gold in 2001 and petroleum by 2022, at the latest.

    Over the intervening years, the threat of “peak oil” has stayed with us–the date when global petroleum production was to reach its supposed maximum, afterward and evermore to decline as dwindling reserves were tapped out. And the exhaustion of the world’s oil reserves was just the start. A host of other critical natural resources, from phosphorus to uranium, have been declared peaking or already peaked.

    Forty years later, however, rereading Limits to Growth invokes a growing sense of irony. Far from being depleted, worldwide reserves of minerals continue to climb. New technologies suggest the dawn of U.S. energy independence. The biggest concern isn’t that the planet is running out of resources–it’s having too many for the planet’s own good.

    http://www.businessweek.com/magazine/everything-you-know-about-peak-oil-is-wrong-01262012.html

  5. gordo365 says:

    Scientists: ‘Look, One-Third Of The Human Race Has To Die For Civilization To Be Sustainable, So How Do We Want To Do This?’

    http://www.theonion.com/articles/scientists-look-onethird-of-the-human-race-has-to,27166/

  6. rd says:

    The SEC proudly claims $1.97B in penalties, disgorgement etc. although it does appear that individuals have had to pay almost none of this, so typically the arms length shareholders take the hit.

    The financial sector appears to have been able to pocket $1.2B in segregated customer funds from MF Global alone, which is a small company and set of transactions compared to the financial crisis ones.

    It looks like it still pays to use “creative” interpretations of financial laws and regulations.

  7. Bill in SF says:

    Re: This is HILARIOUS: SEC Enforcement Actions.

    Hilarious? I think the word you were looking for is Pathetic!

    New financial definition: Ex post facto leverage = SEC settlement.

  8. Rightline says:

    Contrarians Take Note; Wall Street Doesn’t Believe Stock Rally

    Savita Subramanian of BofA Merrill Lynch says her Wall Street equity sentiment indicator hit a fresh two-year low in January. This contrarian market gauge measures how her Wall Street peers view the market.

    http://blogs.wsj.com/marketbeat/2012/02/01/contrarians-take-note-wall-street-doesnt-believe-stock-rally/

  9. VennData says:

    “…Congressional Republicans have been willing to risk damage to the U.S. economy to deny Obama a second term, but a politically independent central bank legally mandated to do everything in its considerable powers to promote employment is not going to be held back by such considerations…”

    http://www.marketwatch.com/story/bernanke-mission-may-boost-obama-2012-02-0

    Real Americans….

  10. mathman says:

    Jojo – i hope you read the comments to that article about “endless oil” (as the author seems to think). Most everyone points out the errors in this knuckleheaded thinking and i’ll boil it down to one sentence:
    It’s not so much that we’re running out of oil (though we are, since on a finite planet it must be the case eventually), it’s that using fossil fuels has poisoned our biosphere and is making life more difficult by the year.

    Climate change (due to fossil fuel use) is definitely here and isn’t going away (in fact it’s getting worse, more chaotic, each year) and the effects may linger for thousands of years.

  11. rktbrkr says:

    treasury contemplates negative rates – and meanwhile taxpayers pay excess interest on borrowings, brilliant Timmy!

    http://economix.blogs.nytimes.com/2012/02/01/treasury-ponders-negative-interest-rates/