My Sunday reading material:

• The Danger in Dividend Stocks (Barron’s)
• There’s a Verdict in Apple v. Samsung – Damages $1,049,343,540 (Groklawsee also Apple decisively wins Samsung trial: what it means (The Verge)
“Great quarter, guys” – Wall Street’s Finest at Work (WSJ)
• Interview w Rob Arnott: Emerging Markets Still Look Good (Index Universe)
• The Cheapest Generation (The Atlantic) see also Household income is below recession levels, report says (Washington Post)
• The winners and losers of QE, by the BoE (FT Alphaville)
• Judge Posner’s Remarkable New Ideas About Taxation, Regulation, and the Constitution (Slate)
• How The BoE Is Making The Rich Even Richer (Sky.comsee also Britain’s richest 5% gained most from quantitative easing – Bank of England (Guardian)
• Five Things Government Does Better Than You Do (The American Prospect)
Hot Wings: Take one of History Flight’s vintage warbirds for a spin (WSJ)

What are you reading?

 

Gold: Waiting for the Rally

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.

22 Responses to “10 Sunday Reads”

  1. stonedwino says:

    “The Cheapest Generation

    Why Millennials aren’t buying cars or houses, and what that means for the economy”…Hey BR, didn’t I just say this yesterday? The article supports exactly what I said about Millenials and the future of economic stability. Maybe I missed my calling…

  2. stonedwino says:

    “You mean the generation that paid three times as much for college to enter a job market with triple the unemployment isn’t interested in purchasing the assets of the generation who just blew an enormous housing bubble and kept it from popping through quantitative easing and out-and-out federal support?”

  3. Bob is still unemployed   says:

    I read this interesting short comic strip about Why Nikola Tesla was the greatest geek who ever lived as only Oatmeal can tell it.

    ~~~

    BR: We posted that on Tesla’s Birthday

  4. Orange14 says:

    Gretchen Morgenson’s column today (http://www.nytimes.com/2012/08/26/business/401-k-woes-when-a-company-goes-bankrupt-fair-game.html) is a real head scratcher. These poor folks at the bankrupt company have not had access to their 401(k) funds for four years now and nobody is telling them why.

  5. johnl says:

    http://www.guardian.co.uk/world/2012/aug/25/france-refuses-greece-call-reforms

    France says Greece should stay but won’t cut them any slack.

  6. Jim67545 says:

    Read the article 5 Things Government… etc. Sent it to (bounced it off) a conservative friend.

    I think government needs 3 things…
    1. Better oversight. As in the corporate world (See Posner’s comment about CEOs running roughshod over hand picked boards) there is almost no active, detailed oversight in government by the public. Add the now non-existant investigative journalism from the media and all the public sees is the blow-ups, gross abuses and arrests of government employees. Little wonder that the public is hostile. Oversight would tend to prevent these events from occurring and would give the public more confidence – if such oversight boards are properly constituted and not packed with political poodles.
    2. Cost/Benefit analysis or term limits. It is the nature of the individual units within government to try to enlarge and extend their “benefits” to more citizens. There is always more they want and can do if given the money and authority. It is very hard for Congress, or legislatures at any level, to hold the line when virtually every fragment of government is pushing in the direction of expansion. This is as true of regulations as expenditures. Some mechanism needs to be inserted where an impartial body will conduct a “death panel” of programs/regulations or perhaps an agency with the mission to kill other agencies/programs/regulations (the cancer approach.) Something needs to be done to counter the expansionist tendency besides broad budget cuts which often are based on politics rather than eliminating programs of marginal public benefit or focusing remaining funds on acretive projects.
    3. Increased jail time for those swindling or stealing from the government. It enrages me to see a Medicaid swindler or fraudster who collects on bogus IRS refunds get a couple years jail time. Let’s make the penalty for stealing from the public something that serves as a strong disincentive. Either we increase the risk through stepped up enforcement (expensive) or harsher penalties or we suffer more significant losses. These losses reduce funds for those intended to receive them as well as contribute to budget/deficit problems. While we’re at it let’s put them in a bare-bones prison to rot and liquidate their assets as restitution. Cutting off their right hand might be a good idea too.

  7. BusSchDean says:

    Spitzer’s interview with Judge Posner was brief but telling. How refreshing to see a really smart guy evolve his thinking. We do not see it that much in academia, where intellectual camps are common place and defections rare, and we never see it in modern politics.

  8. theexpertisin says:

    Five Things Government Does Better Than You Do is an inept exercise.

    That providing for a common national defense was not even mentioned leads me to the conclusion that the author is stuck on stupid.

  9. RW says:

    What’s the price of corn in your meat? Less than you think
    [for those getting ahead of themselves on the implications of a bad corn harvest in the US (ht Mark Thoma)]

    Grizzly attacks, kills lone hiker in Alaska’s Denali Park
    [All hikers here are permitted and receive required training in avoiding bear attack. Attacks are very rare but photo's on this hiker's camera indicate he did not obey that training. Result, one dead hiker, one dead bear presumed to have been the killer.]

    NYPD: Police bullets hit all nine wounded in Empire State shootout
    [Speaking of the need for training. These nine would probably have better luck in Denali]

  10. Glen says:

    Lance Armstrong ‘stripped’ of Tour de France titles and banned

    As a former biker racer, I find it somewhat amazing that people still believe most top level bike racers don’t dope.

    Is Uncle Sam helping or hurting the economy? Americans are torn

    Like your article on “5 Thing Government Does Best”, there seems to be a large amount of irony that people have been convinced that government is always wrong or inept, There are places in the world with little to no government – I don’t see people flocking to move there.

    Microsoft denies Windows 8 app spying via SmartScreen

    Interesting to see how Windows 8 pans out, my company just switched to Windows 7 after ten years with XP.

    Can Android Revolutionize Spacecraft Design?

    Hopefully not Samsung phones, but I have to admit, we have looked at using Android phones in our manufacturing process too, it’s an amazing amount of technology in a small package.

  11. Jojo says:

    60 Years of American Economic History, Told in 1 Graph
    By Jordan Weissmann
    Aug 23 2012

    http://www.theatlantic.com/business/archive/2012/08/60-years-of-american-economic-history-told-in-1-graph/261503/

  12. machinehead says:

    @Jojo — interesting chart; thanks.

    What happened at the beginning of the 1970s that stopped middle class economic gains in their tracks? Answer: Nixon cut the dollar completely loose from gold in August 1971.

    Turns out that the wealthy can negotiate the quicksand of a full-fiat currency system much better than ordinary folks. Our centrally-planned financial economy is a fantastically effective machine for picking the pockets of wage slaves and handing the loot over the yachting class by means of asset inflation.

  13. RW says:

    @Glen, it’s funny, but my first thought when I heard that Lance Armstrong was being stripped of all his Tour titles was, “do they give the title instead to the 2nd place finisher of each Tour? If so, and given the heavy odds that 2nd place finisher is another doper, what point do they think they are making?”

    I’m enjoy irony but not when it’s ham fisted.

  14. CB says:

    @RW try this:
    http://m.vice.com/read/so-wait-who-actually-won-all-those-tour-de-france-titles
    War on drugs? – drugs won. Admit defeat and surrender already.

  15. uzer says:

    Glen: “As a former biker racer, I find it somewhat amazing that people still believe most top level bike racers don’t dope.”

    user: I find it more than somewhat amazing that people still believe most top level athletes in *every* level of *every* sport (most especially when there’s money involved) don’t dope. I said Armstrong was doping many years ago — there is no way humanly possible to win 4,5,6,7 straight tours. I think it was around the time his main rival, Lars Ulrich, said Armstrong was finished after Armstrong had an extremely poor showing in one of the tour’s late mountain stages only to come back the next day and blow everyone away in a time trial. I was convinced he was doping from that point on.

    “If you ain’t cheating, you ain’t trying”

  16. Iamthe50percent says:

    I wonder why the business world doesn’t have term limits. You know like “after six years you will have to leave this company and never come back” or “the CEO can only serve for 8 years, then must retire, the Board of Directors will only consider firing him once at the mid-point”. I mean, so many people consider these rules a panacea for government.

    Do you really want a government run by amateurs?

  17. Mike in Nola says:

    Later posts on Groklaw show there are some significant questions being raised about the Samsung/Apple jury verdict, like that the foreman told reporters that the jury had reached a verdict without needing instructions.
    http://www.groklaw.net/article.php?story=2012082510525390

    On another aspect of the verdict, one blogger made the point that $1B was a pretty cheap price to pay to become the worlds biggest smartphone maker: HTC, et al, are probably kicking themselves now that they didn’t copy better.

  18. Mike in Nola says:

    Looks like the securitization moguls are trying it again; this time with rentals.

    http://feedproxy.google.com/~r/FdlNewsDesk/~3/wzhgNMYWOCE/

  19. danimal says:

    Iamthe50percent Says:
    Do you really want a government run by amateurs?

    Are the professionals doing a good job?

    I think it should be amateurs. Maybe we would get laws that can be read and understood by one person. I submit not one person understands, in total, the tax code, obamacare, and any other 2000+ page law.

  20. VennData says:

    Posner’s apostasy is remarkable.

    If you are a right winger, you must read his new thinking immediately.