My afternoon hurrication reads:

• NYSE Expects Normal Open Tomorrow After Storm (Bloomberg) see also Behind Decision to Close Markets (WSJ)
• An Oyster in the Storm (NYT)
• No, Hurricane Sandy Won’t Help the Economy (Bloomberg) see also New York Subway System May Take Weeks to Recover From Storm (Bloomberg) see also Hurricane Sandy Threatens $20 Billion in Economic Damage (Bloomberg)
• In Defense of Narratives (Macro to Micro)
• Housing Bulls Shrug Off Skeptics, Hold Ground (WSJ) see also Home Prices in 20 U.S. Cities Rise by Most in Two Years: Economy (Bloomberg)
• Mass Extinction Study Provides Lessons for Modern World (Science Daily)
• Amazon Is a Black Hole Threatening To Devour Corporate America (Slate) but see The Underestimated Anti-Amazon (Barron’s)
• CEO Cook Remakes Apple for Post-Jobs Era, Forstall Exits (Bloomberg)
• I.B.M. Reports Nanotube Chip Breakthrough (Bits)
• Who Needs Facts Anyway? (Big Think)

What are you reading?


Homebuilder Boom
Click to enlarge

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.

25 Responses to “10 Tuesday PM Reads”

  1. franklin411 says:

    Mitt Romney on Federal disaster relief: “It’s immoral” and should be privatized.

  2. willid3 says:

    whats the Feds do

    things like maybe track hurricanes?

    of course some wanted to cut funding for it. along with FEMA too

  3. drewburn says:

    Glad you’re back on-line and OK.

  4. James Cameron says:

    “So who was behind that rumor (along with a few others, such as a Manhattan-wide blackout)? According to BuzzFeed, which did some digital sleuthing last night and this morning: Shashank Tripathi, a NYC hedge fund analyst and GOP congressional campaign manager who uses the @comfortablysmug Twitter handle.”

    BuzzFeed Outs Twitter User Believed To Be Behind Sandy’s Biggest Lie

  5. James Cameron says:

    Mitt Romney on Federal disaster relief: “It’s immoral” and should be privatized.

    That was Romney; the latest is, updated as luck would have it just after Sandy . . .

  6. Giovanni says:

    In Defense of Narratives is a thought provoking rebuttal to Barry’s ‘Don’t tell stories’ presentation at the TBP conference. Even more interesting is the rebuttal to the rebuttal posted in the comment at the linked article.

  7. Mike in Nola says:

    My daughter is a confirmed troublemaker. She is going to go around posting comments about people in the mid-Atlantic states need to be moved to somewhere where it doesn’t flood.

  8. VennData says:

    Ex-FEMA director Michael Brown criticizes Obama for reacting too quickly to storm

  9. gkm says:

    As an aside for those who may be misinformed about fiat currency debasement: It is the acceptance of more and more in exchange for less and less that is the mechanism. It has never been about lack of acceptance of said currency. It, by definition, would not be currency if it were not generally accepted.

    It is interesting to note that the CRB Index to gold ratio is near the most extreme it has been in the last 30 years. So it begs the question: why? I could draw a parallel between gold and stone money that might be informative, but I’m sure the fiat money adherents would be bored.

  10. Chief Tomahawk says:

    Problems (they sound minor…) at 5 Nuclear Power Plants

  11. VennData says:

    The Narrative defense is silly:

    The vast majority of regressions of data sets and the S&P 500 do NOT produce a “99% correlation [sic] so seeing one does not mean it must be rebuked. Especially since this correlation did not exist in any prior period to the 1997 year the author concocts.

    The facts of the narrative can be boiled down to just the facts. The narrative is not needed.

    Ritholz and Salmon are right. And the Author’s claim that “Objective Reality is something that will cause people to react in the future,” does not prove that he can tell how they will react with any statistically-derived assuredness.

    You may want to defend narratives, but rather than defending them, you should look inside yourself as to why you feel you want to defend them, because using them won’t provide replicable results.

  12. VennData says:

    I’m sure George Lucas will share some of that $4B with the Darth Vader actor who signed a deal to get profits of the ‘Return of the Jedi’ and hasn’t been paid a dime, because according to Lucas, RofJ never made any money,

    Makes you wonder why Disney would be so dumb to buy a company that make no money?

    And maybe THAT’S why those “liberals” in Hollywood don’t want tax cuts, they don’t make any money. How can they create jobs when they don’t make any money?

    Did Harrison Ford ever have a job? He did? Well, I don’t understand the whole tax-cuts-job-creationism thing then, I guess you just have to believe in it.

  13. Chief Tomahawk says:

    “Open Letter from RE/MAX to President Obama and Governor Romney”

  14. Mike in Nola says:

    Bob A:

    By “steal” do you think she means getting more votes despite all the voter suppression tactics?

  15. Mike in Nola says:

    So, how is the cell phone situation up in the hurricane-damaged areas? I saw one headline alleging that 25% of the towers were out of commission.

    The loss of towers was a big problem in Katrina. Those that survived (and there were some), eventually ran out of fuel for the generators which shouldn’t be a problem for the current situation.. Our brilliant then-mayor, Ray Nagin and his technology chief (now going to Federal prison) decided that cell phones would be the backup communications devices. Apparently, the tech chief didn’t really understand how they worked. Interestingly, the day after Katrina, ours and some hospital landlines worked, but our cell phones didn’t. They had talked about all kinds of fancy digital radios like were proposed after 9/11 for the NYC first responders, but nothing had ever been implemented. A few dozen CB radios costing a few thousand dollars could have run on car batteries for days and would have made a huge difference, because lack of communications was one of the biggest handicaps – fog of war and all that.

  16. Born Again says:

    Regarding mass exinctions, after a cataclysmic event like a comet/asteroid impact, the first species to go are the specialized feeders. The more a species shuns certain foods or develops sophisticated eating mechanisms or patterns, the more likely it is to not adapt to changing conditions and, of course, die off. Species go exinct one of two ways – they either completely die off leaving no lineage (terminal), or they evolve into something different (phyletic).

    If humans have to resort to eating cockroaches and licking moss of damp rocks, then so be it. It might even be helpful to start practicing now.

  17. NoKidding says:

    “…Post-Jobs Era…”

  18. formerlawyer says:

    @VennData Says:

    One explanation is that Disney overpays for such companies ($10B for Marvel and $4B) for Lucas in order to obtain rights to the characters. One estimate had the Starwars universe having some 30k+ characters in a variety of spinoffs. While Disney may take a hit in the first few quarters, they are in it for the long-haul. Expect to see Marvel and Starwars theme parks, merchandising, TV spin-offs, video games etc. out the whazoo.

    Characters are the new brands.

  19. Greg0658 says:

    gkm my assessment is that corporate stocks are also the currency debasement you are hitting on .. and holders of dollars are expected to police all your other currencies *
    and Venn that StarWars 789 .. WTF .. when I heard that last nite I had to pull out 6 and see just how can they bring the franchise back into existance .. what the evil Emperor coagulates into a new being? .. but he will be no match against the 3Jedi Knights+ coagulated into a superforce
    oh and for the paperchasers – its all about “thanks for the opportunity to help out”
    &or climb out of bed and do something good and entertaining * (tho Hollywood has jumped the shark)
    the 2 * are in conflict with each other .. hummmm

  20. James Cameron says:

    More on the fake storm tweets by a NYC hedge fund analyst:

    “ first identified Comfortablysmug as Shashank Tripathi, a campaign manager for Republican congressional candidate Christopher Wight (N.Y.). Tuesday night, Wight’s campaign said Tripathi had resigned from the campaign as a result of his tweets. “He has taken full responsibility for what he tweeted,” said Carlisle Williams, a spokeswoman for the campaign.”

    Twitter rumor of flooded stock-exchange among a surge of fake storm reports