A rich brew of my morning reading material. (Breathe deeply the dark roasted links and caffeinated aroma!):

• S&P 500 in Cheapest Bull Market Since Ronald Reagan (Bloomberg) see also Bonds Switch Signals End of Cult of Equity (CNBC)
• Day 13: Wall St. Happy With Fiscal Cliff Negotiations, But Skeptics See Photo-Op (The Daily Beast)
• Dividends: U.S. Deeper in Recessionary Territory (Political Calculations)
Cuban: What I Really Think About Facebook (Blog Maverick)
• Vulture Capitalism Ate Your Twinkies (The Nation) see also Private Equity and Hostess Stumbling Together (DealBook)
• Soros Buying Gold as Record Prices Seen on Stimulus (Bloomberg)
Rubio: All Eyez on Him (GQ) see also Why Doesn’t Florida Senator Marco Rubio Know How Old the Earth Is? (Slate)
• American manufacturing is coming back. Manufacturing jobs aren’t. (Wonkblog)
• September delinquencies skyrocket 7.72%, foreclosure filings decline 20.4%, shadow inventory grows (OC Housing News) see also Zillow expands home search to include shadow inventory (HousingWire)
• Cheer up, Papa John’s. Obamacare gave you a good deal. (Washington Post)

What are you reading?


U.S. Capex: Beyond the Fiscal Cliff

Source: BCA Research

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.

13 Responses to “10 Tuesday AM Reads”

  1. metphd23 says:


    Wow! Between drug interaction, medical mistakes, and hospital-acquired infections, getting medical treatment is the third leading cause of death in the United States.

  2. leveut says:

    http://news.cnet.com/8301-13578_3-57552225-38/senate-bill-rewrite-lets-feds-read-your-e-mail-without-warrants/?part=rss&subj=news&tag=title — Senate bill rewrite lets feds read your e-mail without warrants–Proposed law scheduled for a vote next week originally increased Americans’ e-mail privacy. Then law enforcement complained. Now it increases government access to e-mail and other digital files.

    “…CNET has learned that Patrick Leahy, the influential Democratic chairman of the Senate Judiciary committee, has dramatically reshaped his legislation in response to law enforcement concerns. A vote on his bill, which now authorizes warrantless access to Americans’ e-mail, is scheduled for next week. Leahy’s rewritten bill would allow more than 22 agencies — including the Securities and Exchange Commission and the Federal Communications Commission — to access Americans’ e-mail, Google Docs files, Facebook wall posts, and Twitter direct messages without a search warrant….”

  3. Conan says:

    The first article about being a Bull Market:

    1) Until we brake out of the flat trend we have had since 2000 and start making notable new highs. We have no Secular Bull Market. Folks we are in a Secular Bear market and are currently in a Cyclical Bull swing. sorry for the terminology, but it does make a difference.

    2) In what world are valuation low? Please see the following from Doug Short, by any classical measure we are in an expensive market and most likely if we truly bottom out by historical standards most measure will be cut in half.


  4. VennData says:

    Interesting how Rubio, Aiken and the other extinct dinosaurs of the GOP don’t think the Earth is more than a few thousand years old.

    Maybe they’re readying us for their “Tax Cuts for Mother Earth Earth” initiatve

  5. Jojo says:

    Francine McKenna, Contributor

    Is The SEC’s Ponzi Crusade Enabling Companies To Cook The Books, Enron-Style?
    How Zynga, Facebook and Groupon’s Go-To Auditor Rewrites Accounting Rules

    Enron. Qwest. Adelphia.

    Sunbeam. WorldCom. HealthSouth.

    A decade ago investors knew what those companies had in common: top executives who cooked the books. After their phony accounting was exposed, most went to jail-and hundreds of billions of dollars of shareholder wealth evaporated.

    The Securities & Exchange Commission remains quite busy. In fiscal 2011 the agency brought a record 735 enforcement actions. But those looking to see the next Jeff Skilling or Richard Scrushy frog-marched in front of television cameras will be sorely disappointed. Only 89 of those actions targeted fraudulent or misleading accounting and disclosures by public companies, the fewest, by far, in a decade.

    So what happened? Call it the Bernie Madoff effect. Embarrassed that it missed the Ponzi King’s $65 billion scheme, the SEC reorganized its enforcement division, eliminating an accounting-fraud task force and adding new units to pursue crooked investment advisors and asset managers, market manipulations and violations of the Foreign Corrupt Practices Act. Since then Pfizer, Oracle, Aon, Johnson & Johnson and Tyson Foods have all paid fines to settle foreign-payoff charges.

    That’s all fine and good. But remember this: Foreign-payola charges (absent alleged accounting abuses) have minimal effect on a company’s stock. Accounting fraud risks massive market disruption. Groupon, Zynga and Green Mountain Coffee Roasters are all down at least 75% in the past year, amid doubts about their accounting and prospects. And those examples don’t even carry allegations of illegality.


  6. re..
    • Cuban: What I Really Think About Facebook (Blog Maverick)

    “…This is from their page on Newsfeed, Engagement and Promoted Posts : ”In this way, we can keep news feed an engaging service where people come to get the information that is most interesting to them.” FB believes that their news feed is an engaging information source. They seem to really, really want to make sure that you get the information that is most engaging to you. I honestly didn’t know this.

    This has to be a good thing, right ?…”



    further, from Cuban..

    “…FB is what it is. Its a time waster. That’s not to say we don’t engage, we do. We click, share and comment because it’s mindless and easy. But for some reason FB doesn’t seem to want to accept that it’s best purpose in life is as a huge time suck platform…”

    While, I know Cuban is Popular, among some..

    He is, also, widely ‘disliked’/’despised’..

    Personally, I think those that join ‘the second group’, do so, primarily, because He, Cuban, does his own Homework.

    some, really, don’t like Competition
    (too, bad for them..)


    some ‘Schools of *Thought’ lead to Failure..

    admittedly, some take longer, than others, to Prove it out..

  7. ToddMPeters says:

    Plait comes across as someone with a huge chip on his shoulder and an axe to grind. Is Rubio on a committee that may affect Plait’s research budget?

  8. willid3 says:

    Shadow banking holds $67 trillion

    how much is in the shadow banks. where nobody looks

    and thats part of what caused the meltdown

  9. RW says:

    SEC Rocked By Lurid Sex-and-Corruption Lawsuit Matt Taibbi lights up some more vampires. (ht Jesse)

    Move over, adulterous generals. It might be time to make way for a new sexual rats’nest – at America’s top financial police agency, the SEC.

    Now excuse me, I need to pick up some JGB’s for my next trip to Japan.

  10. overanout says:

    If Rubio had a sudden medical emergency I am sure he would prefer to be taken to a hospital staffed with Doctors and other healthcare professionals that have been trained using scientific biology courses including Darwin’s theory of evolution. I really doubt that he instead would ask to be taken to a local church so that he could be in the house of God an consult with the local preacher who would look through the Bible for possible cures and pray for his recovery.

  11. DiggidyDan says:

    RE: Rubio

    His answer is perfectly correct. . . for a politician.

    Mr. Scientist says “Senator Rubio is exactly and precisely wrong” and calls his answers ” confused and error-riddled.” Mr. Scientist is so wrapped up in his Scientist world where everything is black and white and methodical, that he can’t even fathom a world in which these things do not matter.

    It isn’t about what is provable, correct, or researchable in the real world of politics. IT IS ABOUT VOTES. Senator Rubio knows this and is probably more “scientifically” knowledgeable than he lets on, and definitely more “politically” knowledgeable than Mr. Scientist. He is crafting every answer to not alienate voters with strongly held (and perhaps scientifically incorrect) beliefs across a broad spectrum.

    See Rubio’s quote here: “But he also speaks with the restraint of a guy who knows everything he says will be parsed and, most likely, used against him. “I’ve learned the hard way,” he says. “You have to always be thinking how your actions today will be viewed at a later date.””

    He is smart enough to craft his answers to appeal to the broadest spectrum of the electorate, and outwit those who would turn his own words against him, while avoiding the big gaffe blowup or specific statements on controversial subjects that could immediately turn off a voter who would normally support him. . . Can you do that Mr. Scientist? I didn’t thinks so.

    Intelligence comes in many forms; if you think you know everything you are probably hopelessly unaware.

  12. Ridge Runner says:

    “What are you reading?”

    Removed due to non responsive argument
    Removed due to argument by outlier
    Removed due to ad hominem attacks.


    BR: This site is about the search for the truth, Your arguments and sources are not, they are exercises in rhetoric and obfuscation Please go sell money losing stupidity somewhere else.

  13. overanout says:

    Science is not black and white rather a process and a method of thinking about the world around us, and its normal
    description of causes tend to be based on probability analysis rather then black and white answers. Rubio and the Republican Party need to embrace modern scientific method’s that would be the smart move .