My morning reads:

Blog War: Howard Lindzon Says Timothy Sykes is a Cancer…A Malignant Tumor of the Web (Howard Lindzon)
• Triple trouble in Europe, US and China brings out the bears (Telegraph)
• Re-Examining that “Massive Stimulus” (EconBrowser) see also Fed Move Likely by June, Ex-Insider Says (Barron’s)
Caroline Baum: Beware Analysts Torturing Jobs Data to Fit Model: (Bloomberg)
• Apple Leading Charge in all-ETF 401(k) Plans (ETF Guide)
• Japan Nuclear Shutdowns Boost Current Account Deficit to Record $5 Billion (Bloomberg)
• Cost of Gene Sequencing Falls, Raising Hopes for Medical Advances (NYT) see also Gorilla genome analysis reveals new human links (Guardian)
• Tablet by Any Other Name Not as Sweet as ’iPad’ (Bloomberg) see also Apple ready to tackle television with its new iPad (Washington Post)
• In pictures: Rallies after Putin wins Russia election (BBC)
• Jon Stewart Interviews Bruce Springsteen for Rolling Stone (Rolling Stone)

What are you reading?
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‘Sterilized’ Bond Buying an Option in Fed Arsenal

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.

12 Responses to “10 Thursday AM Reads”

  1. VennData says:

    Vincent Reinhart has been wrong for the let three years. He has a chance of being right, but the economy is improving. The Fed will not need to stimulate and like the Barron’s editors, will have mostly missed the buying opportunity of a generation due to their political biases.

    Thanks for leaving more on the table for rational asset allocators.

  2. [...] The Big Picture, Menzie Chinn of Econbrowser shows what all the Republican sturm und drang is [...]

  3. VennData says:

    Menzie Chinn’s analysis is spot on. Buried in the data is this chestnut:

    ‘… Oh, and I still want to talk to all the critics of the bill who said the spending would kick in long after the economy had recovered…”

    Remember that one? The GOP media machine leaving quotes for themselves they could refer back to. They still were in denial about how badly allowing I banks to leverage up so a few could make more billions with their silly Ownership Society, now their only argument is the recovery isn’t “strong enough.” Created the “Blame Fannie”meme (aka The Big Lie) so thouroughly trounced here.

    The GOP wanted to do nothing. They mocked the bank stress tests. We would be in Europ’s position now if the GOP had had their way, because Europe took the GOP prescription and remain sick.

  4. Moss says:

    As Abe Lincoln said in 1864:

    “We may congratulate ourselves that this cruel war is nearing its end. It has cost a vast amount of treasure and blood. . . . It has indeed been a trying hour for the Republic; but I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war. God grant that my suspicions may prove groundless.”

  5. gordo365 says:

    Why does fed need “Banks and investors” in the bond sterilization scheme?

    Why not just take money from one fed pocket and put into a different pocket – without paying interest/fees to TBF players?

  6. willid3 says:

    could some of the improvement in the job market be because some of the baby boomers are retiring? the leading edge of that generation has already passed retirement age. after all, if some have saved enough, and planned well enough, they might have retired. which is some thing that was a big concern among business that they were going to have problems getting enough employees (before they discovered the job export market anyway). but its not all good if its true, as it also means that the US economy will shrink.

    http://www.mcclatchydc.com/2012/03/07/141102/older-workers-are-exiting-fast.html

  7. Jojo says:

    Warm Winter May Have Cooked Economic Data
    U.S.News & World Report
    March 8, 2012

    The economic news has been pretty darn good of late. Employment is up and consensus estimates are looking for about 200,000 new jobs to be reported for February this Friday on top of the 241,000 jobs created in January. The unemployment rate is coming down, consumer confidence is up, and automobile sales were at a 15 million run rate in February, the highest in five years. What’s not to like?

    Make no mistake, the economy is getting better, but we shouldn’t be misled by the seasonally adjusted data the government reports.

    As a result I suspect we will get a somewhat more sober picture of the economy with the March and April data. My guess is that we will get some “payback” in the form of a slower growing labor market and somewhat weaker consumption. The consumer side of the economy will still be growing, but it won’t look as strong as it does now. Indeed, by May, with home heating costs no longer offsetting higher gasoline prices, we might once again hear talk of another slowdown.

    http://finance.yahoo.com/news/warm-winter-may-cooked-economic-160522450.html?l=1

  8. noahmckinnon says:

    Blessing or Curse?
    Competing Visions of a Computer-Controlled Future
    http://www.spiegel.de/international/business/0,1518,819825,00.html

    75% future unemployment due to increasing automation?

    - – - – - – - – - – - – - – - – - – - –

    Zap your brain into the zone: Fast track to pure focus
    http://www.newscientist.com/article/mg21328501.600-zap-your-brain-into-the-zone-fast-track-to-pure-focus.html
    (via http://boingboing.net/2012/03/04/what-its-like-to-wear-a-brai.html)

    Author puts electrodes onto her head and gets into The Zone.

  9. socaljoe says:

    Let me get this straight… the FED, which is levered about 50 to 1, is borrowing from the banks, who just got bailed out by an insolvent government, in order to buy more debt issuance from the same insolvent government?

    Sell my gold?… I don’t think so.