My early morning reads:

• The ever-diminishing returns from Europe’s bailouts (Reuters)
• BIS warns global lending contracting at fastest pace since 2008 Lehman crisis (Telegraph
• Have we arrived at a financial singularity? (Finance Addict)
• Loophole at MF Global Is Headache for Regulators (WSJ)
• How the JOBS Act Will Impact Hedge Funds (Advanced Trading)
• Fun with pensions (Economist)
• J.P. Morgan Knew of Risks (WSJ) see also House of Dimon Marred by CEO Complacency Over Unit’s Risk (Bloomberg)
• The Fiscal Legacy of George W. Bush (Economix)
• Apple Veers Away From Google (WSJ)
• Days of Wild User Growth Appear Over at Facebook (WSJ)

What are you reading?

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Crude Falls Below $83, Lowest In 8 Months

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.

19 Responses to “10 Tuesday AM Reads”

  1. Moss says:

    Bartlett is a true gift t0 the American debate on Economic Policy. He eschews all ideology and simply states the facts.

  2. VennData says:

    Romney Supports School Vouchers
    http://mobile.nytimes.com/2012/06/12/us/politics/in-romneys-voucher-education-policy-a-return-to-gop-roots.xml
    So your neighbor can send his children to the madrassa of their choice.

  3. nofoulsontheplayground says:

    Quantifiable Edges: “Historical Implications of Monday’s Multi-Day Engulfing Pattern”

    http://quantifiableedges.blogspot.com/2012/06/historical-implications-of-mondays.html

    “While the immediate 1-3 day reaction has been unreliable, these extreme outside days with poor closes have commonly been followed by upside over the 4-10 day period. “

  4. Mike in Nola says:

    @Venndata: Bobby Jindal in La. implementing this already. Many small religious schools are trying to take advantage of it, one touting bible based math. Is suppose it’s hexadecimal as the Babylonians used, or maybe Roman numerals.

    http://www.reuters.com/article/2012/06/01/us-education-vouchers-idUSBRE8501G020120601

  5. Mike in Nola says:

    While on religion, nuns giving the pope trouble:

    http://www.bbc.co.uk/news/world-us-canada-18405302

    Funny that pedophiles and their protectors are trying to dictate to those in the trenches really doing God’s work..

  6. VennData says:

    Irwin,

    Moore and Laffer do the very thing Bruce Bartlett shows the GOP always do to concoct the lies about “Obama’s spending”

    “…After taking office in 2009, with spending and debt already at record high levels…”

    Look, the 2009 budget was Bush’s. The budget is done the year before. That’s how budgets work. Then the two dismiss this with a magic Supply Wave of their wands

    “…While spending did come down in 2010,..”

    And that is why the GOP Media Machine are a pack of liars, and why “Oh you can’t blame Bush” is such bull. Yes, Bush is the problem, was the problem and will be the problem until we get his “temporary” cut-taxes-without-cutting-spending top marginal rate reductions fixed.

  7. VennData says:

    Man writing book about kindness in America shot, wounded

    http://www.chicagotribune.com/news/sns-rt-us-usa-hiker-shotbre85b03s-20120611,0,5763665.story

    Hooray for guns!

  8. NoKidding says:

    @Venndata

    I’m OK with the neighbor that sends his children to the madrassa of their choice. Those ones seem more likely to become educated than the children whose parents accept whatever building the state offers to get the kids out of the house 6 hours a day for 13 years. I coach kid sports and it kills me when I see drop-and-run parents whose children have clearly learned their dominant behaviosr from spongebob squarepants.

    Thre might be some danger where you indicated, but consider the benefit as well.

  9. Iamthe50percent says:

    Irwin, that link contains the funniest analysis of the Great Depression ever. Laffler must have been smoking crack.
    ROTFLMAO.

  10. Iamthe50percent says:

    Low oil prices = good for SUV sales. Roll out the tanks!

  11. Singmaster says:

    @Irwin Fletcher
    That may truly reflex Obama’s true spending record, but when I see an article written by Laffer and Moore, I know that their biases are, more likely than not, going to skew the content. They are both prone to knowing the conclusion in advance, then finding and presenting data points and assumptions to support their predetermined conclusion.

  12. DrungoHazewood says:

    Iamthe50percent

    The economy must be great judging by all the $50-$60k 10 mpg SUVs around.

  13. willid3 says:

    http://hussman.net/wmc/wmc120611.htm
    already in a recession?

    also all of the currently political policy prescriptions. all will fail unless we fix the financial system
    The ongoing debate about the economy continues along largely partisan lines, with conservatives arguing that taxes just aren’t low enough, and the economy should be freed of regulations, while liberals argue that the economy needs larger government programs and grand stimulus initiatives.

    Lost in this debate is any recognition of the problem that lies at the heart of the matter: a warped financial system, both in the U.S. and globally, that directs scarce capital to speculative and unproductive uses, and refuses to restructure debt once that debt has gone bad.

    Specifically, over the past 15 years, the global financial system – encouraged by misguided policy and short-sighted monetary interventions – has lost its function of directing scarce capital toward projects that enhance the world’s standard of living. Instead, the financial system has been transformed into a self-serving, grotesque casino that misallocates scarce savings, begs for and encourages speculative bubbles, refuses to restructure bad debt, and demands that the most reckless stewards of capital should be rewarded through bailouts that transfer bad debt from private balance sheets to the public balance sheet.

    What is central here is that the government policy environment has encouraged this result. This environment includes financial sector deregulation that was coupled with a government backstop, repeated monetary distortions, refusal to restructure bad debt, and a preference for policy cowardice that included bailouts and opaque accounting. Deregulation and lower taxes will not fix this problem, nor will larger “stimulus packages.” The right solutions are to encourage debt restructuring (and to impose it when necessary), to strengthen capital requirements and regulation of risk taken by traditional lending institutions that benefit from fiscal and monetary backstops, to remove fiscal and monetary backstops and ensure resolution authority over institutions engaging in more speculative financial activities, and to discontinue reckless monetary interventions that encourage financial speculation and transitory “wealth” effects without any meaningful link to lending or economic activity.

  14. Joe Friday says:

    Moss,

    Bartlett is a true gift to the American debate on Economic Policy. He eschews all ideology and simply states the facts.

    Too bad a sizable chunk of the country is still drinkin’ the Purple Kool-Aid, or have amnesia, or have amnesia from drinkin’ the Purple Kool-Aid, or are drinkin’ the Purple Kool-Aid because they have amnesia, or….

  15. ashpelham2 says:

    And amazingly enough, though oil prices can spike 25-40% at a time, and gas goes right along with it, oil is down 15% since it’s peak this spring, yet gas prices have fallen by maybe 10% total so far. By my estimation we are currently about 30 cents per gallon higher than we should be here in central Alabama, where all the good ole boys are driving 14 mpg pick em up trucks with mudders on ‘em.

  16. milkman says:

    Haven’t seen the faux newsers or congressional baggers blame Obama for the oil price decline….