My morning reads:

LINK OF THE DAY: Monetary Policy Explained With Animated Gifs (Rortybomb)
• Walker Says U.S. Budget Deal Unlikely for at Least a Year (Bloomberg) but see The Stock Market Loves Government Gridlock (Prag Cap)
• Andrew Ross Sorkin’s Bad Math on AIG (Naked Capitalism)
• Are Chinese Banks Hiding “The Mother of All Debt Bombs”? (The Diplomat)
Foreclosure Fail: Study Pins Blame on Big Banks (Pro Publica)
see also Mortgage REITs’ leverage poses significant risks to the overall mortgage market (Sober Look)
• Economic Stimulus as the Election Nears? It’s Been Done Before (NYT)
• Where Have All the Liars Gone? (Book View Cafe)
• Reflections On Closing Our Series A Financing At Estimize (Leigh Drogen)
• Apple’s new dock connector is called ‘Lightning’, ‘Earpod’ headphones, ‘Loop’ iPod touch accessories, 2GB iPod shuffles (9 to 5 Mac)
• A Third of Americans Now Say They Are in the Lower Classes (Pew Research)

What are you reading?


Companies Rush to Borrow Cash

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.

10 Responses to “10 Mid-Week AM Reads”

  1. VennData says:

    Oh the failure of Obama to protect all Americans is obvious …every day!

    We need Romney out there as sheriff, no one would mess with Americans with Myth “Russia is our number one Enemy” on the job.

    … why, I remember the last time we had a GOP president, not a single American died anywhere.


    BR: Why didnt Obama stop 9/11 ?!?

  2. thomas hudson says:

    BR, you may have the wrong link for the ‘poster child of austerity’ article. taking me to an article on liberal arts programs…


    BR: Oohhh, let me fix that.

  3. denim says:

    “Who Killed the Liberal Arts?
    And why we should care”

    CEO’s, their HR departments, and phoney econ pundits who keep saying that unemployment is “structural” are the ones inflicting current damage. To them, ones education does not qualify them for the job, but, like a computer, they need more apps downloaded. No self reliant, on the job self training is permissible.

  4. JimInMissoula says:

    Glad you linked to the Rortybomb post – even if you don’t agree with the thesis, the post is pure awesome.

  5. Joe Friday says:

    FROM: “Walker Says U.S. Budget Deal Unlikely for at Least a Year(Bloomberg)”

    Walker also called on Republican lawmakers to give up their pledge not to increase taxes, and Democrats to be willing to revise Social Security and Medicare.

    Nevermind that Social Security and half of Medicare are self-financed, and are NOT part of the deficits, AND that the numerous rounds of tax cuts which primarily benefited the Rich & Corporate are overwhelmingly responsible for our massive federal deficits & debt.

    He said the tax code must be changed to capture more revenue from lower- and higher-income earners.

    By all means let us raise taxes on the Middle-class and Working Poor to pay for the federal deficits created by tax cuts which primarily benefited the Rich & Corporate !

    Walker is just another on the bandwagon attempting to make the Middle-class and Working Poor pay for the egregious federal deficits & debt run-up by the Rich & Corporate.

  6. James Cameron says:

    > We need Romney out there as sheriff, no one would mess with Americans with Myth “Russia is our number one Enemy” on the job.

    You know Romney has really messed up when even Peggy Noonan goes after him for his utterly inane attacks.

    Noonan: Romney not helping himself

  7. Jojo says:

    September 10, 2012
    Why Men Fail

    You’re probably aware of the basic trends. The financial rewards to education have increased over the past few decades, but men failed to get the memo.

    In elementary and high school, male academic performance is lagging. Boys earn three-quarters of the D’s and F’s. By college, men are clearly behind. Only 40 percent of bachelor’s degrees go to men, along with 40 percent of master’s degrees.

    Thanks to their lower skills, men are dropping out of the labor force. In 1954, 96 percent of the American men between the ages of 25 and 54 worked. Today, that number is down to 80 percent. In Friday’s jobs report, male labor force participation reached an all-time low.

    Millions of men are collecting disability. Even many of those who do have a job are doing poorly. According to Michael Greenstone of the Hamilton Project, annual earnings for median prime-age males have dropped by 28 percent over the past 40 years.

  8. The Retired CNBC Sucks says:

    I am with Joe Friday. I thought David Walker was a sensible, truly objective guy, but then he became another one of those VAT-supporting ghouls who want to make living hard in America for many people even harder. Any proposal that does not include a hard ASSET tax (and I mean, hard up the assets) on the wealthy in addition to more progressive income taxation and across-the-board spending cuts is a non-solution.

    Also, even though many consider him a pessimist, Walker is a pollyanna. If he thinks a sustainable budget deal can be reached by 2013, then he must be betting on Romney-Ryan and the Democrats capitulating to ever more regressive taxation. The Democrats are spineless but not that spineless, and it’s a moot point if The Big O keeps The White House. If Obama wins, the fiscal can will be kicked through 2016 and we can enjoy four more years of blah. If Romney-Ryan wins, the economy will probably plunge into depression from Art Laffer’s end game to finish off America altogether.

    On a different but related topic, I watched David Stockman’s views on the inevitability of future US debt downgrades: I thought “great insights but so what?” US debt and dollars (no matter how much they print) will continue to be in high demand as Europe tries to keep its highly unlikely federation together and China struggles to sustain its export economy.

    I come to this blog everyday to find the answers to the future, and I have come to realize it’s an awfully slow-moving train wreck. I mean s-l-o-w. Like probably many of you, I crave resolution to the world’s problems (right now, from Barry Ritholtz) and what I discover is there is either only uncertainty or catastrophe, and I should be thankful for everyday that uncertainty wins.

  9. VennData says:

    Noonan, “Romney looked Weak today.”

    “…Mitt Romney on Wednesday renewed his criticism of President Barack Obama over the administration’s handling of attacks on U.S. diplomatic missions in Libya and Egypt, saying its early response to the incidents amounted to an apology for American values…”!B8B3D9D4-3880-4382-8FEB-917038CCC7EA

    Does Romney really think independents are going to flock to him when he parrots back the nonsensical “Obama the Apologizer-in-Chief” talking point from the GOP Media Machine echo chamber?

    What are you GOP Genuflectors going to do when all the angry old white guys are gone? What sort of coalition are you guys going to put together? Romney’s kids? Just because you can get 15% of GOP voters to think Romney got bin Laden, doesn’t mean you will get 51% to beleive your BS anymore.

    GOP, you need to take a good long look at yourself. No, Michelle Bachmann, Herman Cain, Reice Priebus, Rick Perry are not the answer. Tax cuts for the rich isn’t going to solve the world’s problems. Arithmetic! You’re plans need to add up, you can’t pull this Reagan BS anymore. Supply Side doesn’t work, because it never worked.

    You Republicans are completely out of touch.

    Embrace Science. Embrace tax hikes for the rich. Embrace education. Embrace the middle. Cooperate.