Some morning reads:

• Time for economists to eat humble pie … again (
• Why this could be the bull market’s last charge (Fortune) but see Stock Market Should Double Again (SmartMoney)
• The Market for Financial Advice: An Audit Study (National Bureau of Economic Research)
• Fed Prevented ‘Total Meltdown,’ Bernanke Says (WSJ) see also Europeans See Crisis Near End, Bernanke Warns on Recovery (Bloomberg)
• Housing experts optimistic, despite dismal data (Washington Post) see also FHA Bailout Risk Looming Larger After Guarantee Binge: Mortgages (Bloomberg)
• The Case for Raising Top Tax Rates (NYT)
• WTF? Tea Party Targets Lugar, Hatch 70 Years of Senate Tenure (Bloomberg) see also Pro-Romney PAC Killing Machine With Attack Ads (Bloomberg)
• Health-care provision at center of Supreme Court debate was a Republican idea (Washington Post)
• Brain drain (Spectator) see also Seeing Is Unbelieving (NYT)
• Have You Ever Tried to Sell a Diamond? (The Atlantic)

What are you reading?


Mortgage-Rate Change Could Pack a Punch

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 “Mid-Week AM Reads”

  1. Bill Wilson says:

    I think the Supreme Court debate over the health care law could have been avoided. The tax incentive to buy insurance should have been structured as a tax credit instead of as a penalty?

    If you don’t owe money on a house or have any children you pay higher taxes than people who do. Is the government forcing you to buy a house or have children?

  2. Gary says:

    Reading today’s column by Gail MarksJarvis of the Chicago Tribune on new research showing the effects of joblessness and underemployment consumer spending, social security and medicare.,0,3745802.column

  3. James Cameron says:

    The Best Nanny Money Can Buy

    “As one of New York City’s elite nannies, Muneton commanded around $180,000 a year — plus a Christmas bonus and a $3,000-a-month apartment on Central Park West. I should be her nanny.”

  4. willid3 says:

    bill watson, a tax credit only works if you have money and can actually pay for it. otherwise it will never be used. businesses use it because of the way they are organized. but for individuals, it really doesn’t work. and the tax credit for housing and kids, is really just to help with those (it also helps prop up those industries, when folks might not be as successful). considering the average income, most folks might have kids, but never a house

  5. gordo365 says:

    Oh I miss the days of the cash-out refi. I would really stimulate the economy if people with underwater mortgages could refi AND cash a $20,000 check.

  6. willid3 says:

    maybe the health care business needs to be reinvented into the healthier life business? cause right now their stocks are suffering from their current business model. and maybe its really as simple as they need to really recognize one thing. the customer (much like a lot of other industries). the customer isn’t really important to them. they are just a Muppet

    Customers don’t want drills: they want holes.

    Customers don’t want MP3 players: they want music.

    Customers don’t want trains: they want to get from here to there.

    Customers don’t want computers: they want solutions.

    Patients don’t want drugs: they want better health outcomes.

  7. A says:

    It is truly amazing to watch the herd-like behaviour of human beings as they are steered to buy things because theyare ‘must have’ material goods. Today, the must have item typically has an ‘i’ in front of it.

    And all too often, the quest to own all of these things leads people to be i-broke.

  8. willid3 says:

    thinking that the reason that the top 1% should pay more in taxes, is that by themselves they make about 40% of all income earned in the US. and thats probably why they pay more today (even if it is a low levels). and the bottom 20% actually only earn less than 1% of all income earned. maybe thats why they end up paying less in taxes. but there are some really odd events in taxes. not all who pay little to none in income taxes are poor. some are billionaire’s earning millions and millions of dollars per year. but pay nothing. sort of like many very profitable companies (like GE for example) make billions in profits. but pay little in taxes

  9. Bill Wilson says:


    I was trying to make the point that the health care mandate is really just a tax incentive. If this tax incentive is unconstitutional, then are tax incentives for having a mortgage or going to school also unconstitutional? I don’t see what the difference is. That’s why I think they should have structured it as a tax credit. Would the Supreme Court declare all tax credits and deductions unconstitutional? Maybe they should, but that’s another argument.

    The biggest hurdle to a tax credit would be the government’s ability to pay for it. You would have to raise everyone’s taxes, and then give them their money back if they have health insurance. That’s probably a political non-starter. Low income households are not affected as they will have their health insurance subsidized anyway.

  10. EdDunkle says:

    The Pentagon needs money more than Americans need health insurance. Let’s please keep our priorities straight.

  11. ilsm says:

    Lawyers. Those interested in doing away with those other shaky tax laws do not launder the finances on 10% of US GDP like the health insurance industry cabal, you need to buy politicians and lawyers.

    Guns. The US war industry drives up everything in the US but its humanity.

    Money. The more money the pentagon gets the more children in poverty, the more aged who live in poverty, the less money for schools, hospitals, roads, and less for any number of more rpoductive uses.

    Warren Zeevon is prophet for the day!