My reads to start your week:
• Paul Volcker: on Greedy Bankers, the Ryan Plan, and the Fed (Daily Beast)
• Currency wars redux (FT Alphaville)
• Bernanke’s Battle for Jobs Eclipses Inflation Concerns (Bloomberg) see also Bernanke Buoys Big-Bank Stocks (WSJ)
• Pre-orders for Apple’s iPhone 5 sell out > hour; iPhone 4 sold out in 22 hours (CNN Money) see also Despite Innovation Slowdown Smartphone Advances Are Still Ahead (NYT)
• Why Short Sales Are So Challenging: A Condo Was Sold, Until It Wasn’t (NYT)
• SEC Keeps Wary Eye on Exchanges (WSJ)
• More disturbing signs of the death of the Rule of Law: In Prosecutors, Debt Collectors Find a Partner (NYT)
• Inside the campaign: How Mitt Romney stumbled (Politico) see also What Not Getting It Looks Like (The League)
• UCLA’s new transparent solar film could be game-changer (LA Times)
• ‘Saturday Night Live’ Season Opener Was Full Of Hilarious Surprises (The Stir)
What are you reading?
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Earnings in United States Are Beginning to Feel a Pinch
Source: NYT
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.
Ditto about SNL Saturday night.
Excellent start to the new season.
Prairie Home Companion on the FM radio at 6 PM was good too. Does everyone here know what an FM radio is?
“Inside the campaign: How Mitt Romney stumbled”
When stuff like this starts linking out, it certainly suggests that Romney has lost control of his campaign. Some folks in his org are playing the blame game with their own colleagues. Someone has set up Stevens for a fall.
not a bad interview with Paul Volcker, THE man
for a better one (2 years old but bigger picture)see
http://search.ft.com/search?queryText=Transcript%3A+Interview+with+Paul+Volcker
i have CCS if you dont have access
[...] Ritholtz, the latest insanity on privatization of public functions from Jessica Silver-Greenberg, NYT: The [...]
[...] Ritholtz, an article by Dean Kuipers, [...]
That “More disturbing signs of the death of the Rule of Law” is just appalling. Surely a leading indicator of the development of a Banana Republic in the good old USA?
will consumers spend more because they have reduced their debt? in spite of lower net incomes, and rising prices?
http://blog.chron.com/lorensteffy/2012/09/will-consumers-spend-more-now-that-they-owe-less/
Re: Leslie Gelb’s interview with Tall Paul. Like most Liberals, Gelb is clueless about economics.
Given that Volcker’s jacking up of interest rates in time to torpedo Jimmy Carter’s reelection (the Iran crisis didn’t help) helped elect RR, I would asked about Bernanke’s policies as they might pertain to the current election campaign. Should Obama get reelected, is there any chance the Repubs might impeach Bernank for political interference in the presidential election??
BTW I voted for Ronnie because I thought JC was responsible for the high interest rates – I don’t think I knew anything about the Fed at the time. Yes I was a typical Liberal, clueless about money.
I like the solar cell window film idea. But if your office windows could generate electricity, what would you do with it? Power lights and computers that generate heat? Or run AC to cool buildings that house lots of heat generating lights, computers, and people? So confusing. :)
I believe that direct linkage between corporate debt collectors and prosecutors would be a line item on the check list ‘Is your country fascist?’
Juan Peron would be proud of the new United States.
Since you’ve got one “the rule of law is dying” post, I’ll add another…
http://gonzalolira.blogspot.com/2012/04/you-are-free-to-travelif-irs-lets-you.html#more
Am in the nice old 100 years war town of Dinan at the moment. Depressing to read the above mess. Think I may stay here with the socialists, although judging by the number of Mercedes around, there aren’t as many as there used to be. The amount of new construction on the outskirts here, in St. Malo and Bayeux plus the number of real estate agencies and “a vendre” signs seem to indicate end of a housing bubble.
Also see that Ben’s latest plan to help housing has raised 30 year rate 20-30 bps. Same as last time. Quick learner.
Besides Barry’s basic common sense, I love this blog for the links.
As Cato described, the piece on prosecutors and debt collectors is appalling. If Americans cannot be counted to do the right thing in good times, what is to come in bad times? Believe it or not, these are the good times.
On a much lighter note, thanks for the heads-up on SNL. I have not found it funny in years, but last Saturday’s was a classic. The best line: “You know you’ve made a terrible decision when having a neck tattoo is the second-worst thing about your neck tattoo.”
This would be a good link to include : Apologia Pro Vita Sua by Derman
Volker mentions the basic problem behind the titles of many of today’s troubling reads: Personal responsibility and ethical behavior as a societal and business norm has been declining.
Until we devise a system that actually rewards better behavior we can expect no better. Currently we seem to believe “morally and ethically wrong but not illegal” is a perfectly rational and accepted strategy.
Was thrilled that SNL appeared to have it’s mojo back. Hope it lasts through the season.
Seth MacFarlane’s Ryan Lochte on Weekend Update was the funniest thing I’ve seen in years!