Some longer columns for your weekend reading pleasure:

• A Financial Sleuth Finds a World of Abuses (Barron’s) see also Leaked EU economic analyses on Europe’s banks (FT)
• The cost of affluence (Guy McPherson’s Blog)
• Another Blow to ECRI’s Recession Call (Iacono Research) see also Business Activity in U.S. Held Near a 10-Month High in March (Bloomberg)
• Behind Japan’s Big Arms Buy (Foreign Affairs)
• Who won the Mega Millions lottery? The states. (CS Monitor) see also Why Some Cities Lose When Others Win (The Atlantic Cities)
• There’s no speed limit. (The lessons that changed my life.) (Derek Sivers)
• China faces ‘timebomb’ of ageing population (Guardian) see also The Family Behind Hong Kong’s Skyline (WSJ)
• The high cost of good journalism (John L Robinson)
• Vincent Van Gogh’s tartan torment (Times Literary Supplement)
• Mitt Romney’s hedge fund kingmaker (Fortune) see also Don’t let Mitt Romney’s anti-gay billionaire backer whitewash his intimidation of critics (BoingBoing)

What are you reading?
>
U.S. stock market’s rise leaves many behind


Source: Market Watch

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.

10 Responses to “10 Weekend Reads”

  1. rd says:

    On the stock market leaving people behind:

    I am seeing articles exclaiming that this was the best start to a year since 1998. If I recall, 1998 was the year when the stock market became detached from its traditional valuation moorings and the tech/dot.com bubble started to get blown up to unprecedented levels.

    Are we seeing the financial sector trying to pump another ballon up? However, the muppets have already seen two of these pump-and-dump stock market cycles in the past dozen years, so they may not be as anxious to jump into the swimming pool with the sharks this time around. Many of the muppets are now in their 50s and 60s instead of their 30s and 40s in 1998, so they are more interested in holding onto what they have than stretching for the last bit of gain.

    The smart money appears to be finding it much more difficult to pull the dumb money into the blow-out phase this time around. Just one of the downsides of losing all your credibility.

  2. MayorQuimby says:

    This is why we need balanced budgets, ZERO percent inflation and print, stable markets with flat price movements (no leveraged bs). These huge volatile swings in price do NO ONE ANY good.

    Those who bet correctly thin they win but their winnings, should they get out at the top get converted into assets which then depreciate (real estate, boats, cars. Gold because GLD is filled with leverage).

    Those who stand aside get stressed and frustrated as their purchasing power is destroyed and 2 percent CDs are laughed at.

    Those who bought at the highs are obviously screwed.

    There are no winners. Having a zillion bucks in Detroit is not an achievement. We are all in this together and need to destroy the metric tons of debt and leverage that will ruin us all.

    That means BALANCED BUDGETS and ZERO PERCENT inflation targeting. If we want more GDP growth we need to do it with our hands and minds not with Bernanke’s levers and scams.

  3. VennData says:

    I think I want Michele Bachmann back in the race. Yeah…

    - Forbes 400 Billionaire.

  4. Robespierre says:

    And here is how a fascist state behave:
    http://www.independent.co.uk/travel/news-and-advice/planning-a-trip-to-canada-or-the-caribbean-us-immigration-may-have-other-ideas-7584912.html

    “One million British travellers planning to fly to Canada, the Caribbean and Mexico this year face the risk of being turned away at the airport – at the insistence of the US Department of Homeland Security. ”

    The British and Canadian lapdogs will most likely comply. The world is now becoming a huge Guantanamo. You will never see this covered by the MSM here in the land of the formally know the free and brave.

  5. VennData says:

    While Google gives us “Planet Earth, the game.” (Hint hit “Quest view.”)
    http://maps.google.com/

    The pricks at Apple are going to sue everything and anything Android…
    http://www.theregister.co.uk/2012/04/01/apple_patent/

    …including using this patent in the rectangle…

    http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=1,042,012.PN.&OS=PN/1,042,012&RS=PN/1,042,012

    Think before you buy any more Apple shit.

    ~~~

    BR: LOL Hilarious

  6. willid3 says:

    the draw back to no inflation (or deflation) is that every thing becomes stagnant. there will be no growth in the economy. which would also require that there be no population growth. it would also mean that we would fall behind every other country in the world. the real problem we have today with inflation, is that there is no wage growth (for any but the top levels). which puts a lot of pressure on every one else.
    and why would Mexico, or Canada care what the US said? they control their own border.

  7. Jojo says:

    Back to The Final Frontier
    03.19.2012
    Neil deGrasse Tyson—the acclaimed astrophysicist, writer, and director of the Hayden Planetarium—lays out what it will take for America to remain the leading superpower in space.

    http://discovermagazine.com/2012/apr/14-back-to-the-final-frontier/

  8. Jojo says:

    While we peasants slog through our daily day…
    ———–
    Robert Reich
    Whose Recovery?
    Friday, March 30, 2012

    Luxury retailers are smiling. So are the owners of high-end restaurants, sellers of upscale cars, vacation planners, financial advisors, and personal coaches. For them and their customers and clients the recession is over. The recovery is now full speed.

    But the rest of America isn’t enjoying an economic recovery. It’s still sick. Many Americans remain in critical condition.

    The Commerce Department reported Thursday that the economy grew at a 3 percent annual rate last quarter (far better than the measly 1.8 percent third quarter growth). Personal income also jumped. Americans raked in over $13 trillion, $3.3 billion more than previously thought.

    Yet it’s almost a certainly that all the gains went to the top 10 percent, and the lion’s share to the top 1 percent. Over a third of the gains went to 15,600 super-rich households in the top one-tenth of one percent.

    We don’t know this for sure because all the data aren’t in for 2011. But this is what happened in 2010, the most recent year for which we have reliable data, and there’s no reason to believe the trajectory changed in 2011 or that it will change this year.

    In fact, recoveries are becoming more and more lopsided.

    The top 1 percent got 45 percent of Clinton-era economic growth, and 65 percent of the economic growth during the Bush era.

    According to an analysis of tax returns by Emmanuel Saez and Thomas Pikkety, the top 1 percent pocketed 93 percent of the gains in 2010. 37 percent of the gains went to the top one-tenth of one percent. No one below the richest 10 percent saw any gain at all.

    http://robertreich.org/post/20171217334

  9. ilsm says:

    “Behind Japan’s Big Arms Buy “.

    The Japanese got the same sweet deal with the F-15′s enough that they do all the reapirs on the planes in Japan.

    How much star wars ineptitude did they get when they bought those ships they told N Korea would shoot their missiles out of the sky? Don’t they listen to how scared the Isrealis are?

    Work share is how the US got the UK and several others to throw $4B into the pre overrun part of the $44B R&D budget to “design” the shoddy failed F-35.

    US taxpayer technology goes to everyone willing to “buy” US weapons to profit the war manufacturers. Each sale is rubber stamped so the the US taxpayer does not benefit from “recouping” the US money that designed the thing: keeps the profit margin up on the sales, and makes sure that US technology is spread around free. Good thing none of it is useful in war.

  10. Molesworth says:

    RE ECRI Personal Income thingie at Iacono.
    I don’t quite agree it’s trending up.
    Here’s YOY for 5 years:
    http://research.stlouisfed.org/fredgraph.png?g=68I
    Here’s data monthly. Quarterly it’s up, but monthly not so good.
    http://research.stlouisfed.org/fredgraph.png?g=68J
    don’t know if these links to charts will work. If not and interested play with DSPIC96 at Fred.