My afternoon train reading:

Kass: The Bob Farrell Sentiment Indicator is Turning Bullish (The Street)
• All eyes on asset encumbrance in Europe (FT Alphaville)
• Banks’ Liquidity Hinges on Risky Assets (CFO)
• Chinese banks’ Weapons of Mass Ponzi (
• WTF?!?  Bonds for $105 Million to Cost School Over $1 Billion (Businessweek)
• The ruins of empire: Asia’s emergence from western imperialism (Guardian)
• Misplacing the Blame for Budget Problems (Economist’s View)
• Samsung’s 2010 Report Says Its Galaxy Would Be Better if It Were Just More Like the iPhone (All Things D) see also Apple’s motivation for suing Samsung (The Loop)
• The College Wage Premium (Cleveland Fed)
• How Romney’s Pick of a Running Mate Will impact Election (NYT)

What are you reading?


Loan Terms, Bond Yields Buttress U.S. Economy

Source: David Wilson, Bloomberg

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.

14 Responses to “10 Mid-Week PM Reads”

  1. Bob is still unemployed   says:

    The reporter whose Apple iCloud account was hacked describes how the hack was done. It involved the hacker exploiting a procedural security hole at, and then using the result of that exploit to obtain credentials for the reporter’s Apple iCloud account.

    It is reported that both Apple and Amazon have, temporarily at least, closed the security holes that allowed this exploit.

  2. willid3 says:

    not sure that the wage premium is all that any more. as the majority of the jobs with college degrees. are the ones most likely to be exported.

  3. rpseawright says:

    We live in, our kids graduated from and my wife teaches for your “WTF” school district, Barry. I don’t recall those terms being disclosed when we voted on the bond measure. WTF, indeed.

  4. Chief Tomahawk says:

    Hey, check out the video on the ‘WTF’ Poway story page!!!

  5. Iamthe50percent says:

    rpeawright, regarding WTF bonds, that payback is no different than a high rate mortgage. Actually, I would love to refi into a mortgage that I didn’t have to pay a cent on for twenty years. Especially since I will probably be dead by then since my life expectancy is actuarially only 14 years.

    This is called kicking the can down the road to the next generation of taxpayers who will probably default or pay back with inflated dollars worth no more than $105M today. It only takes an 11% inflation rate,

  6. RW says:

    To paraphrase someone or other, Romney’s Mammonism bothers me more than his Mormonism but as the article below illustrates there might be less difference there than meets the eye. In any case it does suggest why tax avoidance could have a fairly serious religious imperative in addition to the usual monetary one.

    Pennies from heaven:
    How Mormon economics shape the G.O.P
    …for all the attention now lavished on how Mormonism fits in with the American experience, remarkably little is known about a key feature of Mormon belief: the organization of economic life. …the business side of Mormonism is a curious agent for the faith’s deliverance into the mainstream. It entails an ethos of accumulation that makes the so-called prosperity gospel seem listless by comparison.

    How we’re missing a key part of the Romney tax story.
    …I am no tax professional, but have 10 years experience in private equity and am familiar with how the senior professionals manage their finances) …you’re missing the piece on the timeline where Romney cut a retirement deal with his partners to buy out his shares in the Bain Capital management company. Where [income tax] could be zero is if Romney had previously contributed his shares of the Bain Capital management company that he controlled 100% of into his IRA over the years.

  7. Doug of North Texas says:

    Please see the FT stories (China banks as ponzi schemes, Asset encumbrance in European banking). Banks still hold the future hostage, based on what they have already done.

  8. wisedup says:

    appears that this is not yet on TBP
    from Nanex a rather scary animation of HTF volume

  9. Bob A says:

    BLODGET: Romney Can’t Keep Pretending That ‘Rich People’ Create Jobs

  10. VennData says:

    Why don’t these crazy nose-cutting-to-spite-face GOP Governors deny medicaid funding because they hate government spending, deny their citizens’ medicare? Social Security? Military Contracts etc… etc… etc..?

  11. JJ Butler says:

    The attraction to the The Big Picture is the intellectual honesty. But the college wage premium? Adjusted for IQ and EQ while factoring work experience and time value of wages and tutuion suddenly it’s discount. Much like buying a home, a personal aspect exists.