My morning reads to start your week:

• High-Speed Trading No Longer Hurtling Forward (NYT)
• Dividend stocks are investing’s holy grail (MarketWatch) see also Get Ready for the Dividend Cliff (WSJ)
• The Buyback Epidemic (The Reformed Broker)
• Lavish CEO pay doesn’t work as intended (NBCsee also Executive Superstars, Peer Groups and Over-­‐Compensation – Cause, Effect and Solution (IRRC)
• Global Economy Distress 3.0 Looms as Emerging Markets Falter (Bloomberg)
• New Fed governor defends bond-buying decision (WaPo) see also Fischer Backs Fed QE3 as World ‘Awfully Close’ to Recession (Bloomberg)
Sheila Bair: Questions From a Bailout Eyewitness (NYT)
• The Sad Story of Jack Welch in Retirement (
• US Online Ad Revenues Set Another Peak in H1, Up 14% Y-O-Y (Marketing Charts)
• Repealing Deductions Pays for 4% Tax Cuts, Study Says (Bloomberg)

What are you reading?


U.S. Oil Boom Falls Short of Pump

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.

17 Responses to “10 Monday AM Reads”

  1. ami_in_deutschland says:

    I’m having difficulties accessing your site, Barry. Waiting for the ads from seems to be delaying the rest of the page from loading.

  2. ilsm says:

    “However, to hear such noise coming from a prominent business leader like Welch seems to be a sad comment on the woeful state of discourse in America from the highest echelons of society.”

    Prominent business leaders…………….made this mess!

    Welch is no more senile than in 1981.

  3. Moss says:

    The hypocrisy of people like Neutron Jack is educational. Smoke, luck, mirrors and Corporate Welfare seem to be the hallmark of the cranks legacy. The guys personnel life and how he ripped off the shareholders for his own individual gain are more emblematic of what he really stands for.

  4. thomas hudson says:

    AGW twofer:

    Antarctic Sea Ice Hits Record … High?

    Met releases new study of warming trends:–chart-prove-it.html#ixzz29E78OR9H


    BR: You don’t seem interested in following our posting rules. A clarification on these two links:

    The Nat Geo article on Antarctica specifies “the Antarctic is cooler than the rest of the world. It’s warming up as well but not as fast as other places.”

    The Daily Mail (Publisher of The 2nd article) has made numerous errors and published misleading reports; David Rose, the author of the linked piece, is called an “oft-debunked serial liar on Global Warming.”

    David Rose’s climate science writing shows he has not learned from previous mistakes
    Articles in the Mail on Sunday show the same uncritical reliance on dodgy sources that caused David Rose’s catastrophic mistakes about Iraq

    Measurements show Earth heating up, think tanks & newspapers disagree

    New British Studies Confirms Climate Change Consensus, Daily Mail Gets It Totally Wrong

    Daily Mail Slammed for Ignoring Scientific Truth We’re Still Warming and Human Emissions Will Dwarf Any Solar Changes

    David Rose destroys his credibility and the Daily Mail’s with error-riddled climate science reporting

    David Rose Misrepresent U.K. Weather Service Research to Push Cooling Claims

    See also:
    “a story written by David Rose entitled “Forget global warming – it’s Cycle 25 we need to worry about”.This article includes numerous errors in the reporting of published peer reviewed science undertaken by the Met Office Hadley Centre and for Mr. Rose to suggest that the latest global temperatures available show no warming in the last 15 years is entirely misleading.Despite the Met Office having spoken to David Rose ahead of the publication of the story, he has chosen to not fully include the answers we gave him to questions around decadal projections produced by the Met Office or his belief that we have seen no warming since 1997.For clarity I have included our full response to David Rose below:A spokesman for the Met Office said: “The ten year projection remains groundbreaking science. The complete period for the original projection is not over yet and these projections are regularly updated to take account of the most recent data.”

    -Met Office

  5. James Cameron says:

    “AFP has turned in its tax returns every year, just as the law requires, reporting that it did not spend a dime on politics — an answer that seems implausible from a common-sense perspective, but one that the IRS appears to have accepted as consistent with its vague and ambiguous definition of political activity.”

    If this doesn’t anger citizens, along with the supine response of IRS bobbleheads . . .

    The IRS’s ‘feeble’ grip on big political cash

  6. Bob A says:
    Death by Ideology
    So let’s be brutally honest here. The Romney-Ryan position on health care is that many millions of Americans must be denied health insurance… so that a handful of already wealthy people can have a higher after-tax income.

  7. eliz says:

    Quoting from Gretchen Morgenson’s NYTimes piece “Questions From a Bailout Eyewitness”:

    But perhaps the most telling anecdote is from early October 2008, when Henry M. Paulson Jr., the Treasury secretary, summoned Ms. Bair to his office. No reason was given for the meeting. When she arrived, Ben S. Bernanke, the Federal Reserve chairman, was already there. Timothy F. Geithner, then the president of the New York Fed, was on the phone.

    Handed a piece of paper, Ms. Bair saw that she had been ambushed. It was a script, prepared for her by the Treasury and the Fed, stating that the F.D.I.C. was moving to guarantee all the liabilities in the financial system. Astonishingly, the guarantee would cover all bank depositors and even protect unsecured claims against institutions. In short, the F.D.I.C. was being asked to back “everybody against everything in the $13 trillion banking system,” Ms. Bair writes.

    Dumbfounded, she told the men she had to discuss the plan with the F.D.I.C. board. Over a few days, they came up with a better, less costly plan.

    Obama then selected Geithner as Secretary of Treasury, and nominates Bernanke to a second term as Federal Reserve Chairman. Obama supports these scoundrels to this day. I find this unconscionable.

    I will not be voting for Obama: corporatist and huckster for the financial industry, continues to promote programs to transfer the remaining wealth of the 99% to the 1%.

    I will not be voting for Romney: hawk, exporter of jobs, anti-choice, part of the financial sociopath cohort, serfdom promoter.

  8. VennData says:

    “…At a hearing of the House Committee on Oversight and Government Reform last Wednesday, Representative Darrell Issa, Republican of California and the committee’s chairman, talked of “examining security failures that led to the Benghazi tragedy.” He said lawmakers had an obligation to protect federal workers overseas. On Sunday, he said more should be spent on diplomatic security. But as part of the Republican majority that has controlled the House the last two years, Mr. Issa joined in cutting nearly a half-billion dollars from the State Department’s two main security accounts…”

    Shouldn’t Issa, the richest member of Congress, investigate why he voted to cut spending to protect embassy’s?

  9. VennData says:

    RE the HTF is no longer “hurtling” article:

    “..ntil recently, most firms bought a data package from Nasdaq that cost about $1,000 a month and gave traders a feed that includes all orders submitted to the exchange. In August, Nasdaq introduced a new, more comprehensive data package that costs about $25,000 a month. Many firms say that they have to sign up for new technologies if their competitors do. “It gives no benefit to anyone, that’s what I find so frustrating,” Mr. Peterffy said…”

    Uhhh.. so don’t get it. If it doesn’t help anyone, why do you have to get it? Something’s missing here…

  10. willid3 says:

    just when you thought it couldn’t get worse. it does

    latest in cost cutting scheme . cut out the human robo signer?

  11. RW says:

    Why there’s less high-frequency trading
    Felix Salmon is underwhelmed by the news that there is less HFT going on: there may be fewer trades but order spam is going through the roof as the algobots try to head-fake each other (and of course everyone else).

  12. The Retired CNBC Sucks says:

    Michael Porter does not have to worry one iota about the competitiveness of the United States. If/when the US dollar collapses and millions of Americans know what it is REALLY like to be poor, we will be among the world’s low-cost producers and we can reverse our account deficits. You see, Adam Smith was right and the invisible hand of the free market does resolve all problems. Of course, I am assuming the xenophobic and paranoid policies and perceptions of Americans will permit us to export and take in investment from foreigners. Which begs the question: can poor people afford to continue to be paranoid?

    On a somewhat related topic, I have called him “Peter Shit” previously and I will never EVER agree with him about the need for social safety nets and taxation on the rich, but I have to agree with Peter Schiff on monetary policy and the risks to the US dollar. I am hopeful the bad times are still a ways away, but in these two videos (ironically from CNBC!), Peter makes an awful lot of sense:

    I have grown tired of political remarks, even (and perhaps especially) my own. We, even those who think they are wealthy, are all in survival mode.

  13. Joe Friday says:

    Repealing Deductions Pays for 4% Tax Cuts, Study Says (Bloomberg)

    The meanies are making the RightWing Tax Fairy cry.

  14. VennData says:

    U.S. Retail Sales Rose 1.1% in September

    ‘…This “number” PROVES that the Chicago Guys know Biden Lost his debate too…’

    — Jack Welch.