Afternoon Train Reading:

• Andreessen: There Is No Tech Bubble (And the Smartphone Is Still Under-Hyped) (Wired)
• The Stock Comparison Scoring Engine (Confessions of a Macro Contrarian)
• There is an alternative to austerity (The Economist) see also Death of a Fairy Tale (NYT)
• Falling Labor Force Participation (Conversable Economist)
• The rich are different than you and me: They spend more. (Washington Post) see also Hamptons Home Prices Rise as Buyers Prefer Luxury Deals (Bloomberg)
• Bonus Watch 2007: This Is How Much Every Lehman Brothers IBD Associate, VP, And Senior VP Got Paid In 2007 (Deal Breaker)
• Sean Egan’s Mistake Was Seeking U.S. Government Blessing (Bloomberg)
• Can There Be a Decent Center? What a Worthwhile Third Party Would Look Like (The New Republican) see also Romney Walks into Obama’s Bin Laden Trap (New Yorker)
• Bruce Bartlett: Taxes and Employment (Economix)
• Way Back When “Politicizing” Terrorist Deaths Was OK (Media Matters)

What are you reading?

A Summer Rally Really Would Mean a Lot

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.

13 Responses to “10 Tuesday PM Reads”

  1. thomas hudson says:

    http://www.cleveland.com/metro/index.ssf/2012/05/bridge_bomb_plot_fbi_says_occu.html

    CLEVELAND, Ohio – FBI officials today said that while the members of a group arrested in an attempt to blow up a bridge over the Cuyahoga Valley National Park were also involved in the Occupy Cleveland movement, that organization is not under federal investigation.

    drive under this bridge every day. could have made the commute interesting…….

  2. Jojo says:

    I did not know all this…
    —————
    May Day
    A cornucopia of holidays

    May 1st, often called May Day, just might have more holidays than any other day of the year. It’s a celebration of Spring. It’s a day of political protests. It’s a neopagan festival, a saint’s feast day, and a day for organized labor. In many countries, it is a national holiday.

    http://www.infoplease.com/spot/mayday.html

  3. Global Eyes says:

    I’m reading The New Depression, the breakdown of the paper money economy by Richard Duncan. It’s about how Capitalism has morphed into Credit-ism which is what happens when the debt cannot seemingly be paid back. It gives the growing number of DoomFreaks pause because it offers an actual solution to an in-our-face problem. Gulp.

  4. VennData says:

    The Purpose of Spectacular Wealth, According to a Spectacularly Wealthy Guy

    “…. The financial crisis, he writes, was not the result of corrupt bankers selling dodgy financial products. It was a simple, old-fashioned run on the banks, whom, he says, were just doing their job… There are a huge number of people in our economy who want ready access to their savings — pension-fund managers, insurance companies and you and me with our bank accounts… “Depositors ran to the bank to withdraw their money only to discover, like the citizens of Bedford Falls” — referring to the movie “It’s a Wonderful Life” — “that there was no money in the vault. All that money had been lent.”

    http://www.nytimes.com/2012/05/06/magazine/romneys-former-bain-partner-makes-a-case-for-inequality.html

    Yes, that is because the “Ownership Society” the GOP wrought allowed them to. You Republicans LET THEM do it. The GOP changed the reserve requirements. THE GOP DID IT!

    And you want those guys back in charge? ROFL! These GOP are hilarious.

  5. charlie1939 says:

    Barry,

    The link to the Stock Comparison scoring Engine is dead or inoperable. Here is a working link: http://jackhbarnes.com/2012/05/01/the-stock-comparison-scoring-engine/
    I found it through a Google search, the same way I get to the NYT and WSJ articles that we are supposed to pay for.
    Many thanks for the good stuff you dredge up out of the blogosphere and the news of the day.

    ~~~

    BR: Thanks — I omitted the “http://””

    Its fixed

  6. techy says:

    Technical Analysts: does AAPL price action suggests short term correction(12-15%) to work off that 70% runup?

  7. Mike in Nola says:

    Ironic that the party who gave us “Mission Accomplished” is now whining about a fairly tepid commercial. My wife suggested that the commercial should show W in front of his banner, with a voiceover saying, “Almost 10 years ago, a President claimed the the mission was accomplished. It wasn’t accomplished until Obama was president.” Carville would have the balls to do it.

  8. Alex says:

    Lately I’ve been reading back issues of The Big Picture. Pretty pathetic, huh? Anyway, I was looking at that graphic about Internet empires, which suggested that they all die out eventually, where “eventually” really means “soon”. AOL, MSN, MySpace (who?) all had their day in the sun, and now they just trundle along in their own little backwaters, and the suggestion was that the same thing would happen to Facebook. I won’t be buying any Facebook stock, and I have never even had an account there, but I really think Facebook is different. What enabled AOL to rise to such prominence was convenience – specifically those CDs they sent to everyone with a postal address. They had very little content that anyone really wanted, what they were selling was little more than a gateway to the Internet, not much to build an empire on. Their users only stayed with them because it was convenient, not because it was good. Same with MSN – just one more example of Microsoft using their dominance in operating systems to package up some schlock and hard-sell it to anyone who might look at it.

    Facebook actually brought in their users because they had content people wanted. While I don’t think much of their content myself, their users are likely to be a lot stickier than those of the previous Internet empires. Something else might upset them, like increasing concerns about privacy, especially in Europe, but I don’t think they will succumb to user indifference as quickly as the previous empires.

  9. Init4good says:

    What to do about the rich?
    We must make our choice. We may have democracy, or we may have wealth concentrated in the hands of a few, but we can’t have both. (Justice Louis Brandeis)

    Nice to see in writing some of my own thoughts…
    http://www.philosophersbeard.org/2012/04/what-to-do-about-rich.html

  10. SOP says:

    Thomas Hudson:

    You were safe the whole time. The FBI is conducting “Operations Charade-You-Are.”

    Find clueless Hoodlums (Moe, Larry and Curly), set them up as ‘terrorists’ – bust them.

    Great P.R. and a great excuse to buy 450 million rounds of ammunition

    http://mobile.nytimes.com/2012/04/29/opinion/sunday/terrorist-plots-helped-along-by-the-fbi.xml

  11. V says:

    @Alex

    I think FB will trip itself up in the push to monetize and people will bore of it (they already are).
    I keep asking people have you ever clicked on an ad? – Yet to find anyone who answers yes.

    That said maybe they come up with bona fide new useful features. But I don’t think just redesigning the interface every few years is anything groundbreaking.

  12. thomas hudson says:

    SOP:

    the last sentence from that article you attached:
    ‘Another New York City subway plot, which recently went to trial, needed no help from government. Nor did a bombing attempt in Times Square, the abortive underwear bombing in a jetliner over Detroit, a planned attack on Fort Dix, N.J., and several smaller efforts. Some threats are real, others less so. In terrorism, it’s not easy to tell the difference.’

    time will tell if these eejits were suckered into this, but at the end of the day they thought that they were detonating a bomb remotely. a bomb that could have brought down an historic and lovely bridge in the middle of a national park. not quite sure what that has to do with the 1% thing.

    the mugshots are hilarious.

  13. rd says:

    @VennData:

    As far as I can tell, the primary people who have been making runs on the bank were the top 1%. The other 99% were watching their 401ks and houses decline, their ability to get loans dry up etc. It was the top 1% and the companies they work for who were demanding cash for their Repo 105s, CDS’s etc.

    By the same reasoning, the only reason that the MF Global customers lost their money is because Jamie Dimon at JP Morgan and others wanted their billions of collateral back. The 99% customer was leaving his money where he had been told it was safe and segregated until he found out that it wasn’t.

    The 99% have been making a fairly orderly retreat from the risk markets with outflows from equity funds over the past couple of years. However, this seems to be raising consternation in the 1% as they expect the 99% to be there to provide “liquidity” for them when the 1% want to bolt for the hills.