My morning reads:
• Bartlett: 7 Reasons the Fed Should Raise Interest Rates (Fiscal Times)
• A Huge Break in the LIBOR Banking Investigation (Rolling Stone) see also Banker to the Bankers Knows the Numbers Are Lying (Bloomberg)
• Hulbert: Has a major bear market in gold begun? (Market Watch)
• John Paulson’s Very Bad Year (Businessweek) see also Paulson Forgoes Prognostication as Greatest Trade Sequel Flops (Bloomberg)
• When High-End Meets Hoi Polloi, It’s Usually Bad News (Barron’s)
• Overseas buyers seek shelter in U.S. real estate (Market Watch)
• The Myth That Entitlements Ruin Countries, Busted in 1 Little Graph (Atlantic)
• How Ronald Reagan Socialized Emergency Room Medicine in the United States (Eclecta Blog)
• Is Grover Norquist’s Steel Grip On The GOP Finally Slipping? (TPM)
• Your E-Book Is Reading You (WSJ) see also A Few Good Ideas for Products (Circuits)
What are you reading?
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U.S. Banks Face Different Sort of Debt Dilemma
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.
Since he took office, Republicans have accused President Obama of squandering the first year of his administration on health care reform instead of focusing like a laser on creating jobs and fixing the economy. And now Republicans are doing the exact same thing. When it comes to their intemperate ideology, they simply can’t help themselves. And it will cost them the election.
Rather than fixate on the nation’s economic challenges, offering voters a substantive alternative plan for getting America’s employment and growth back on track, Mitt Romney, the GOP leadership and Republicans in both the House and Senate are making ObamaCare, Attorney General Eric Holder, immigration, abortion, contraception and gay marriage the campaign centerpieces of this election
http://www.ostroyreport.com/2012/06/thank-you-republicans.html
“Hulbert: Has a major bear market in gold begun?”
Apparently not today
Why are Republican’s so often lacking in the facts when discussing issues? It’s the media outlets they follow. From this ABC article….
Supreme Court Health Care Ruling Inspires Creative Vitriol
“…The Sarah Palin examples is “Obama lied to the American People. Again. He said it wasn’t a tax. Obama lies. Freedom Dies…”
http://abcnews.go.com/Politics/OTUS/supreme-court-health-care-ruling-inspires-creative-vitrio
Te idea that the Affordable Care Act with its 3.8% on capital gains is something Obama never talked about, lied about, is ridiculous. The reason Palin always sounds so out of touch is that she never listens to what’s going on. What a liar. That’s why the GOP fought it so hard, their idea, Romney’s idea, because there’s a 3.8% tax on upper income capital gains.
http://www.ft.com/intl/cms/s/0/fb6e8350-c1e0-11e1-b76a-00144feabdc0.html#axzz1zCTkdFO7
Regulators call for change in bank culture. It’s the U.K. but it might as well be here…
Six players from Kentucky go in the NBA draft…
http://espn.go.com/nba/draft2012/story/_/id/8109357/nba-draft-2012-new-orleans-hornets-select-anthony-davis-no-1-overall-pick
…and they wanna break up the banks? Break up this school.
Paulson link…
http://mobile.businessweek.com/articles/2012-06-28/john-paulsons-very-bad-year
Hey Sarah, i gotta clue for ya – they’re all lying (including you, girl) – to jockey for advantage, because that’s the way our species works. We don’t give a crap about anything but ourselves and that’s driving us to extinction.
one more thing:
http://thinkprogress.org/climate/2012/06/29/506473/confirming-the-human-fingerprint-in-global-ocean-warming/
The “Busted in 1 Little Graph” chart from The Atlantic.
I worked in the media for 20 years, and arguably, I still do, which makes me uber sensitive to media bullshit, and especially in statistical misrepresentation. I know that sources like the Atlantic and The New Yorker are essentially dishonest, but it depresses and saddens me that so much of the deliberate dishonesty has spread to the news pages NY TImes and the WSJ and other major “news” outfits. The whole “Obamacare Rejected” reporting debacle yesterday is another recent point…and recently I was listening to a BBC story about Americans adopting African children, in which the reporter said (in a disapproving voice) that 71,000 children were adopted last year — and then provided no context for the number, no idea of how many children were available for adoption, even how many African children there are, who else is adopting African children, and so on. It was like the old joke, “We have a partial score from the Wisconsin-Iowa game…41.” The Atlantic chart is nothing like what it says it is, and, when you think about it for more than 1 second, it couldn’t be. Sometime in the last 40 years — I think probably while I was still working for newspapers — I read a short little book about how statistics are used to lie and to misrepresent. Now, it’s like these guys used the book for *tips* on how to do it..
I wish Congress would make it illegal (or prohibitively expensive via heavy duty taxes) for companies to pay for employee health insurance.
If people had to pay for 100% of their own health insurance, I think it would be an eye-opening experience which would help lead to lower costs. I think a lot of people would be up in arms with charges like $6 for a single aspirin!
Apparently, gaming LIBOR for 4 years only warrants a slap on the wrist, stealing customer’s money at commodity brokers is within the rules, betting FDIC-insured deposits on risky foreign exchange trades is acceptable, and forging documents and signatures on mortgage and deed documents is just normal practice.
So the obvious place to prosecute threats to the financial system is ordinary people potentially having errors in how they handle their Individual retirement Accounts: http://www.marketwatch.com/story/irs-to-step-up-enforcement-of-ira-rules-2012-06-29?mod=premiumstoriesnotti&link=djmc_frontpage_module1
jojo, doubt it would accomplish any thing at all. except make it so that people wouldn’t go. consider that the majority of people quit going unless it was a major need since the recession started.
if we had to pay 100% of the cost, then there would be less of it paid for. and there would be no more insurance customers. they only want to take customers who wont file claims (and they have to or they go bankrupt).
and consider the market (which is controlled by the insurance companies. states tend to only step in to make sure the companies can pay claims, and dont commit fraud. but beyond that they really dont care). and what we see in almost all of the policies for individuals, is that they dont cover much. good reason to. in a group policy, you might have some who make claims regularly. but you also have a lot that make no claims at all. and if you knew how insurance companies work, you would know they only make money on the later. the later is also where the money to pay for claims comes from. cause nobody pays enough in premiums to pay their own claims. otherwise they wouldn’t have bought the policy.
and removing todays tax treatment of the benefit, only eliminates the method to pay for care.
just how many of us will be able to make informed choices regarding health care.
ex
you have a broken leg.
the doctor prescribes a cast. is that really the best solution? are there others? better ones? more expensive?
can any of us who aren’t in health care make that choice?
the answer is no. there is not and never has been a market in health care. nor can there be. unless we make every one take medical course too.
NoKidding, There is certainly a nice move up today. There is no bearmarket in gold in sight for a long time to come if you ask me.
The fundamentals for gold are too good and can not be ignored by the market.
Rd, thems the rules. the rules for business is really different from individuals.
slowkarma: you reject the Atlantic graph as “nothing likes what it says it is” but don’t even suggest what you see as errors in either the data or the statistical analysis. As a scientist, I know that it’s possible to misuse statistics. The responsibility of a critic (or peer reviewer) is to point out flaws in statistical analysis and propose alternative methods that are more appropriate. Otherwise, the criticism (or review) is essentially empty. Statistical analysis is a powerful tool when used correctly.
slowkarma,
“The ‘Busted in 1 Little Graph’ chart from The Atlantic. I worked in the media for 20 years, and arguably, I still do, which makes me uber sensitive to media bullshit, and especially in statistical misrepresentation.”
So what seems to be the problem with it ?
Conversely, I find it does an excellent job of debunking the actual ongoing media propaganda that the fiscal problems, both here and in Europe, were caused by social spending, which of course they were not, just as the chart so aptly illustrates.
http://www.marketoracle.co.uk/Article35374.html