Fed came out and said nothing new – that leaves me with the following afternoon train reading:

• When Prejudices Become a Disadvantage (Science Daily)
• Broker departures accelerate at Merrill Lynch (Yahoo Finance)
• How the Depression Made Keynesians of Capitalists (Echoes)
• Facebook Risks Making No Friends With Google Challenge in Mobile Ads  (Bloomberg)
Glaeser: Why Some Housing Markets Do Better Than Others (Bloomberg)
• Bank Officials Cited in Churn of Foreclosures (NYT) see also Foreclosure Pact Alleges a Pattern of Malfeasance (WSJ)
The new old lie: On the meaning of war (New Criterion)
• Who are the Super PACs’ Biggest Donors? (ProPublica) see also When the GOP Tried to Ban Dark Money (ProPublica)
• Why Interacting with a Woman Can Leave Men “Cognitively Impaired” (Scientific American)
• The Unpersuaded: Who listens to a President? (New Yorker)

What are you reading?


Bond Trading Revives Banks

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.

15 Responses to ““Nothing Done” — 10 Tuesday PM Reads”

  1. Concerned Neighbour says:

    What a day of bubble-blowing. The Fed has been highly successful in rousing the animal spirits – at least in those with access to their easy money – but they may wish to tamper the enthusiasm what with 30%+ almost straight up. Did someone pass a law that selling was illegal? With Fed policy such as it is, they may as well have done so. I’d need innumerable hands to count the number of days with chart’s similar to today’s over the last few years. So many days without a whiff of selling – I’ve been around a while, and never seen anything like it.

  2. Mark Down says:

    BR …. Any seats left in the ‘Pullback Section”

  3. Through the Looking Glass says:

    The FED : Giving new meaning to ” Building a road to Nowhere ”

    Thankyou, thankyou, please sit down now…… we will have refreshments at the intermission.
    and for those of you living in the real world they have refreshments at the downtown Mission.

  4. thomas hudson says:

    if for anything else, a great title…


    february was largest monthly deficit ever..


    us fiscal ytd revenues down from last year at this time.

  5. PeterR says:

    “Look Out Above” ???

    SPY volume in last hour breakout was 62 million shares +/-.

    This is worthy of attention IMO.

  6. reedsch says:

    Maybe because _____________ {insert your favorite theory here}


    I know it messes me up royally.

  7. reedsch says:

    Proof positive: I had just been in a heart-wrenching discussion with my flaming obsession when I re-posted BR’s original link!

  8. ilsm says:

    Profits from war see no down side.

    “New Old Lie”.

    I never went to Levenworth, but I know the “service school” gig.

    “War is a racket” at least what I have seen, the technical side. It is a racket per Smedley Butler, a USMC 2 star general who served in the very low budget Chiquita banana version of Iraq/Afghanistan. Make the world safe for US banks.

    And Butler never enjoyed the vast spending by the pentagon (not including all the other security related stuff) $26.5T in 2011 dollars since the cold war spending machine heated up in 1952.

    A lot of money, sacrificing on all levels and the human toll, in battle, from lost better use, etc continues to make no sense.

  9. Mike in Nola says:


    Looks like someone trying to generate a fail. Pirillo is a noted MSFT hater. I think he became a fanboi or maybe somewhat different, an MSFT hater, when Vista didn’t have drivers for his printers on release. Gee, that was two generations ago. That horrible windows 7 that followed it has only sold half a billion copies.

    As for the consumer preview, any 3+ gig OS that has to be downloaded and installed is not meant for oldsters who only know how to click the start button. Actuallly, the installation was a breeze on my 3 year old laptop. Installed in 15-20 minutes with minimum interaction. Bet he didn’t mention ease of installation on an old machine, although most peole will wind up getting the final product on a new pc that can take advantage of the features. And, if you’ve associated your Win8 installation with a Live or hotmail account and reinstall it or install it on a different machine, it remembers your settings and reinstalls them.

    He somehow compares a it to the ease of use of an iPad, but the dad is using it on an old pc, not a touch sensitive tablet. Do you think that might matter? I’d like to see the old guy try to figure out a desktop Mac. It’s no easier, just different.

    When released, the ARM tablets for people like him won’t have a desktop, only Metro interface with touch. Maybe then it can be compared. As for clueless consumers, I had to show a rich woman how to use her ipad a couple of years ago.

    The desktop was left in Windows 8 for those who need Office, Photoshop or some other heavy duty application to run on an Intel machine. What’s out now is for more experienced users and trying to force an oldster to figure it without help is bound to fail and a little cruel. You think he might have given him a couple of magic key combos? Nah.. But, it does help reinforce the Cult of Mac.

  10. Mike in Nola says:

    What I was going to say before sidetracked by Sway was that I was reading were lots of complaints on Netflix. A company that clueless shouldn’t be in business. The wife and I like British detective shows and had gotten hooked on A Touch of Frost, which was popular enough to run 15 seasons. Maybe it’s still in production. The main character is sort of a British Columbo, only always in trouble with the brass.

    We were watchinf the 9tn of the 15 seasons. I think it only had one episode, which conisted of two hour and half parts. We watched the first part, went back to watch the second and couldn’t find it. It kept directing us to the 15th season. Eventually we discovered from a long list of complaints that Netflix has apparently lost the rights to the old episodes. But what is worse is that they didn’t notify any of their customers about it. They know what everyone’s watching, as they send out a lot of emails asking about the video quality of whatever show you last watched. Netflix obviously knew when it might lose the rights and could have informed those watching the shows what was going to happen. Apparently we weren’t the worst case. One views said he was ten minutes from the end of an episode when it dissappeared.

    And they wonder why the bit torrent culture can’t be stamped out.

  11. gman says:

    The article on war has faint hint of neoconservatism. Glorifying the horror in a very sophisticated way. “Art is almost always anti war” True art is a very rare thing. Instead we are forced to consume relentless propaganda and fear monger about the risks “waiting too long” for the next war.
    Their has not been an economic or social cost for individual hawks who push this propaganda. Until there is, EXPECT MORE WARS, because that is where the money is..a “risk free” trade for the big players.

  12. gman says:

    Maybe Barry could post a link on the soldier who had served 4 tours in Iraq, suffered brain damage, lost his marriage and was sent to Afghanistan anyway. Once in Afghanistan the guy goes on a Mai lai type rampage kill at least 16 civilians in cold blood undermining the “hearts and mind” strategy irrevocably.

    But hey “war is complex and noble”..”no judgements” all the “anti-war art” needs to be countered in some way. BTW the author needs to be reminded that it is a bipartisan rule the coffins of dead US soldier cannot even be photographed…yeah that “anti war message is everywhere”

    Another 10 years in Afghanistan plus a massive war w/ Iran…then the “pivot to east asia”

  13. Sechel says:

    Greg Smith leaving Goldman Sachs. I guess we know what Blankfein, Cohn , Corporate Counsel and the head of P.R. will be discussing today..


  14. mathman says:

    Oh yeah – we’re “bouncing back” alright:


    What a complete load of horse-shit; as if because the rigged stock market goes up we’re all in la-la land now, with milk and honey flowing to everyone. It’s low-grade propaganda in an attempt to get people to spend money they don’t have (to beef up failing municipalities, states and the federal government’s dwindling tax income). Meanwhile gas and fuel oil keep going up, food prices are still rising while wages remain flat (to going south).

    Look in any newspaper and read about all the (petty, compared to MF Global and the big banks) theft going on everywhere (probably to make ends meet for the desperate):

    copper pipe and wiring, air conditioners, Tide detergent (wtf?), cooking oil, used x-rays, sewer grates (!),
    bleachers from little league fields (and elsewhere), heat pumps, tubas (what?), bricks (yes, really), canon balls from historic monuments, live bee-hives, and hair weaves – and the list grows longer and wider every day.

    Does that look like anecdotal evidence of a thriving economy? It looks like the collapse of civilization to me.