What I am reading & thinking about this morning:
• Nice call! Investors yank $3.7 billion out of stocks (CNN Money) see also Who said ‘sell in May and go away’? (MarketWatch)
• What are your investment beliefs? (Research Puzzle)
• Are Chinese Banks Hiding “The Mother of All Debt Bombs”? (The Diplomat) see also Why it doesn’t matter if China sells its USTs (FT Alphaville)
• Sorkin is horribly wrong: Facebook Investors Know Exactly Whom to Blame (Bloomberg)
• Apple Seeks to Create Pandora Rival (WSJ) see also Amazon Challenges Apple With Updated Line of Kindles (Bloomberg)
• Owners Lose Possessions After Home Near Twentynine Palms Is Mistakenly Foreclosed (CBS LA)
• A Slippery Slope: Dissing Facts and Science (Working Wider)
• Vinod Khosla: Technology Will Replace 80 Percent of Docs (The Health Care Blog)
• What is a bank loan? (Interfluidity)
• Revealed: the grubby world of comment spam (Kernel Mag) see also Spammers, Evildoers, and Opportunists (Powazek)
What are you reading?
The European effect
Source: Economist
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.
Ominous The Diplomat article on Chinese Banks’ “Mother of All Debt Bombs.”
Barry, is there an overall one-picture-says-it-all graphic of ALL the debt in the world, both public and private — versus the total capitalization of “things” which in theory “secure” (in the loosest sense of this word) the total debt?
And then maybe, total debt versus cash flow to service the debt, etc.?
Just how large is the House of Cards? And how fragile?
Thanks for a great site.
Wow, those comment spammers…. what a great idea. Need to work on my brand…. hey a few lies from Paul Ryan in the speech of his life is no big thing. If you’ve already forgotten it, so have I. Now fill out my questionnaire,
[...] Ritholtz, an article from Greg Stevens of Kernel Mag on comment spam. Share [...]
re bad foreclosures Bo f A has reached a new low with me ,their force place mortgage scam on me has so confused themselves that
. even tho i have paid EXACTLY THE SAME as from the start and automatically
they have sent me three refund checks while still saying i owe about $7k
and threatening to foreclose as they have for 16 months.
WTF ????they are not only predatory but complete certifiably F ing idiots.
the wheels are comin off at BANK OF AMERICA,, thats BANK OF AMERICA. they have lost basic managment control of their mortgage service operations
Having read “What is a bank loan” and compared it to my 25+ years as a commercial lender I have to conclude that for 25+ years I had no idea what I was really doing. Silly me. I thought I was lending funds from the bank (mostly deposit but also investment/equity funds) to a borrower and that the bank was the creditor and the borrower the debtor. I knew exactly what the debtor owed and how much the debtor, and the lender, stood to lose. Apparently that is too simplistic. I’d hate to call this author for a payoff on a loan.
tax planning…or cheats?
http://www.latimes.com/news/opinion/commentary/la-oe-kleinbard-tax-cheats-20120907,0,6526020.story
Umm…. the S&P is up a whopping 1.9% since May 1 so…. I’m not sure the ” Who said ‘sell in May and go away’?” taunt is actually justified here….
I sure wish some of the scumbag banks would foreclose on the wrong house in Texas. Even if the owner was charged with shooting the perps (unlikely), they would never be convicted.
ceo pay?
http://economistsview.typepad.com/economistsview/2012/09/recent-developments-in-ceo-compensation.html
fair or not?
more private equity shenanigans
http://www.latimes.com/news/opinion/editorials/la-ed-equity-20120906,0,3152711.story
yes mike in nola
at one point, florida being a “castle” state for home intruders andlethal force
, when B of A announced they could do a forced inspection at any time pursuant to my threatened foeclosure
i suggested they consider my rights in florida to use all legalmeasures gainst intruders including lethal..
2nd amendment baby.
its too bad im hardly ever there
Best to wake up now.
http://www.youtube.com/watch?feature=player_embedded&v=zwKbpLFL7Hw#!
Catherine Austin Fitts: Depopulate or Bankrupt the Rest of Us
those that can save end up better, but it also has to do with more than just money
http://blogs.reuters.com/felix-salmon/2012/09/06/who-is-speaking-for-the-poor/
but who cares about those who dont have the money to save ?
making just enough to live on, makes retirement impossible to save for
REM not happy with FOX:
http://www.weeklystandard.com/blogs/rem-asks-fox-news-stop-playing-losing-my-religion-during-dem-convention_651951.html
housing bubble, redux?:
http://www.businessinsider.com/prepare-for-the-coming-housing-collapse-2012-9
I’m having a few disaffected whites over this weekend and was wondering if it’s cool to not serve anything, and blame it on my high taxes? I’ve done the multi-caliber bullets goodie bags…
http://articles.marketwatch.com/2012-09-06/markets/33643229_1_coca-cola-smith-wesson-stocks
…but am looking for ways to spruce up my next dinner party, Confederate flag napkins?
“Pressure in Mount Fuji is now higher than last eruption, warn experts”
….
“The pressure in Mount Fuji’s magma chamber is now higher than it was in 1707, the last time the nearly 4,000-metre-high Japanese volcano erupted, causing volcanologists to speculate that a disaster is imminent.”
….
“A 2004 government report originally estimated that an eruption would cost the country £19.6 billion. However, new studies are underway by Honshu Island’s Shizuoka prefectural government. The study is focusing on the potential damage that would be caused by a series of simultaneous earthquakes in the Tokai, Tonankai and Nankai regions located along the Nankai Trough, where it is feared another earthquake will soon take place. The most recent models have revealed that, in the worst-case scenario, 323,000 people would die and the tremors could trigger an eruption at Mount Fuji.
Regions that would be affected, including Kanagawa, Yamanashi and Shizuoka, plan to hold a test run of an evacuation by 2014, with a meeting of local governments covering progress of the plans and of shelter preparations slated for April 2013.”
http://www.wired.co.uk/news/archive/2012-09/06/mount-fuji
Buy all the guns you want… we, The Trilateral Komitet will still hunt you down with this:
http://www.extremetech.com/extreme/135665-fbi-launches-1-billion-nationwide-facial-recognition-system
…and you will learn first hand why Obama kept Guantanamo open… you will be taken there in chains – via black UN helicopter – where you will be forrced to listen to “Don’t Stop Thinkin’ about Tomorrow’ while eating nutritous food proscribed by the First Lady for the rest of your sorry life. If you stop your commenting now, we may spare you and just make you listen to preechy Springsteen tunes and watch Women’s NCAA sports (ex-volleyball.)
A tour of your brain.
http://www.salon.com/2012/09/01/touring_the_brain/
A great review of two great books:
http://www.nybooks.com/articles/archives/2012/sep/27/what-krugman-stiglitz-can-tell-us/
America’s ten most polluted states
http://oilprice.com/Energy/Energy-General/Americas-10-Most-Polluted-States.html
Interesting how they are a lot of political swing states. All those politicians ‘paying attention’ to them gets them nice and dirty from all those pay offs.