Some longer form reads to start your Saturday morning:

• Falling Revenue Dings Stocks: U.S. Companies on Track to Report Lower Sales for First Time in Three Years; Dow Falls 205 Points (WSJ)
• 6 Wall Street blogs you should be reading (Market Watch)
• Why Financial Advisers Lie (Rick Ferri)
• The great Stradivarius swindle (Telegraph)
• The Beauty of the Airline Baggage Tag (Slate)
• Stumbling and Mumbling: KEYNESIANISM, LEFT & RIGHT (Stumbling and Mumbling)
• The Self-Destruction of the 1 Percent (NYT)
• More on Why Nations Fail: What about the United States? (Scholars and Rogues)
• The Kochs’ quest to save America (McClatchy) see also Koch-backed activists use power of data in bid to oust Obama from White House (Guardian)
• Bill & Hillary Forever (NY Magazine)

What are you doing this weekend?


Extreme volatility, 2 bear markets, strong recovery rally

Source: Chart of the Day

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.

8 Responses to “10 Weekend Reads”

  1. farmera1 says:

    Farming in the “future” according to John Deere.

    Here are a few things that farmers do now that most of you might not know about.

    1) Tractors and combines are guided by satellites (GPS). – This makes running huge machinery possible and increases productivity from very precise steering via satellite. Can’t guide the huge machinery nearly as accurately by hand as a satellite can do. Steering by hand results in a lot of overlap or missed grain at the edge of the heads (try sitting 12 hours/day up in the air 12 feet looking out 25 feet while moving on uneven terrain and judging exactly where you are-can’t be done) therefore productivity is hugely increased with precise steering from GPS.

    2) Fields are grid sampled for nutrient/fertilizer needs. Then this information is input-ed into a computer on fertilizer applicators and fertilizer is applied based on needs of a specific area again using GPS. The fertilizer requirements vary greatly in the same field. Precise application of fertilizer within a field greatly increases productivity-gets the nutrients exactly where they are needed.

    3) Combine cutting heads (the part that cuts the grain and could be up to say fifty feet wide) float along the ground using ground sensors and feedback to a hydraulic system that controls the contour of the head. With a large head the contour of the ground can change dramatically within the width of the head. This again allows larger machines and greatly helps cut the grain roughly an inch off the ground no matter what the contour of the ground. Productivity increases greatly and makes large combines possible.

    4) Irrigation can be monitored via l Apple cell phones. When irrigation shuts down, you will know, which is a big deal when you might have 50 irrigation units spread over 25 miles.

    Good farmers are heavy data users. Computers, GPS and genetics are more a part of farming than is widely understood.

  2. Seaton says:

    Transcript: (Any thoughts, BR? 8^)

    MARGARET WARNER: Now, a new book by a former insider takes a critical look at the government’s actions during and after the financial crisis. The fallout from the crisis and those decisions is still reverberating on the campaign trail this fall.

    Sheila Bair was a key player as head of the FDIC, one of the nation’s chief bank regulators. She worked with Treasury Secretary Tim Geithner, Federal Reserve Chairman Ben Bernanke, and former Treasury Secretary Henry Paulson, before stepping down last year.

    Her new book is called “Bull By the Horns.”

    Judy Woodruff sat down with Bair yesterday.

    JUDY WOODRUFF: Sheila Bair, welcome.

    SHEILA BAIR, former chair, Federal Deposit Insurance Corporation: Thank you for having me. Nice to be here.

    JUDY WOODRUFF: So let’s just — just to get some background out of the way, who and what do you think is responsible for the financial collapse of 2008?

    SHEILA BAIR: Oh, there’s plenty of blame to go around.

    I think at the end of the day, it was greed. It was just greed that was unchecked by government and government regulators. This idea that this is all caused because the government wanted poor people to have mortgages, that’s just not true.

    I think expanding access to homeownership for low-income people was a rationalization, but it was not a driver. A lot of people were making a lot of money, making a lot of irresponsible loans to frankly the vulnerable parts of our population that didn’t understand these mortgages to begin with, and regulators didn’t step in to stop it.


    read the rest here

  3. Julia Chestnut says:

    Working mother here so — chores. Lots and lots of chores. Hubby will be on a business trip in a couple of weeks, so he’s off early voting now. I have to take the family to an historic reenactment in about half an hour, then later in the afternoon, we’ll get one kid to his lesson. In the evening, we might go to the nature center for an activity and a class on fire building – always a hit with y-chromosome offspring. Sunday, well, I’m hoping for a little downtime after church and more chores. A fabulous Fall weekend, though!

  4. RW says:

    Bubble, Bubble, Conceptual Trouble
    …there’s a lot of confusion even among economists about what the pattern of slow recovery from financial crisis is really telling us. Basically, there seems to be a confusion between saying that something is usual and saying that it is necessary. Those aren’t the same thing. …yes, the aftermath of crises is usually a bad time. But that’s because the policy response to crises is usually lousy. We are repeating that story — but we shouldn’t.”

  5. RW says:

    Why your kids’ trust fund portfolio should short coastal real estate

    Climate stabilization is net cheap, so humanity should buy a lot of it. But it’s expensive gross: the costs are high (…if low carbon methods were cheaper we would be using them. We will just be a lot less poor and desperate than we are headed to be if we stay on our current course.) [but we probably aren't going to pay the current high price and will stick future generations with a bill orders of magnitude greater]…The Easter Islander who cut down the last palm tree was just obeying sound market signals of value, doing his part to optimize social welfare. Because he was not a chump or a sucker, and never did any more than he had to for other people, he was the winner, because he was the last guy with a palm tree still standing. If his descendants had survived, no doubt they would …put his portrait over the fireplace.

  6. Jim67545 says:

    This blog tends to be a bit negative. So, here is reading in the “glass is half full” mode:

  7. Giovanni says:

    Really enjoyed the long form journalism in the NYMag piece on the Clintons, thanks for posting.

  8. 10x25mm says:

    Small Reuters article on mortgage underwriting constraints and their effects on mortgage rates, profits, & timing: