My morning reads:
• Wall Street isn’t that worried about the fiscal cliff. Is it savvy or stupid? (Wonkblog)
• Tax the Traders! It Would Solve Economic Crisis and Stop Reckless Trading. (Slate) see also Dark Trading on Public Exchanges (Social Science Research Network)
• Health Stocks a Port in Market Storm (WSJ)
• It’s a record! And other thoughts on the consumerism frenzy (Business Journalism)
• Demand for Miami Real Estate Intensifies Further in October as Pending Sales Spike 67% Over Last Year (World Property Channel) see also Toll Brothers Rings Up Profits in Housing Comeback (The Daily Beast)
• Summers Opposed as Fed Chairman by Almost 50% in Survey (Bloomberg)
• How Republicans Put Elizabeth Warren In The Senate — And On The Banking Committee (The National Memo) see also Bankers on Warren: What, us worry? (Politico)
• Steve Ballmer’s Nightmare Is Coming True (Yahoo Finance)
• Republicans not handling election results well (Public Policy Polling)
• The 45 Most Powerful Images Of 2012 (BuzzFeed)
What are you reading?
Chart of the Day
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.
Caroline Baum
http://www.denverpost.com/opinion/ci_22093665/look-cuts-where-money-is
This one is so tragic it is funny:
http://www.politico.com/story/2012/12/dick-armey-freedomworks-president-clashed-over-book-deal-84599.html?hp=l12
He leaves a non-profit because he is upset that a top lieutenant is using its money to pad his pockets – and get an $8 million buyout. With that kind of compensation I need to consider joining the tea party or some other right wing idealistic non-profit group. Just for a few years, then I can afford to work for the left non-profit organizations for the rest of my life. Maybe the old saying that the left is full of socialists and the right is full of sociopaths is true.
Oh my God! Summers as Fed Chairman!! How could such a thought even be made?? It had to have been rumored or discussed or there wouldn’t be any opposition! What he and Ruben have done will be written in the history books and I don’t think history will be kind to them
Washington and many other governments are awash with these people and I would have to question if that is good for the American people or good for Goldman Sachs.
http://rwer.wordpress.com/2012/03/15/toxic-and-destructive-goldman-sachs-and-the-obama-administration/
http://theeconomiccollapseblog.com/archives/11-reasons-why-america-would-be-a-better-place-without-goldman-sachs
http://www.whiteoutpress.com/articles/q42012/list-of-goldman-sachs-employees-in-the-white-house/
Hey GOP voter. Just thought you’d like to see yet another data point showing you that the GOP Media Machine is about them making money.
“…Kibbe maintains that the leave didn’t stem from questions about the book deal. Rather, he said “there was a dispute” with Armey over “competing visions for what FreedomWorks should become and ultimately, the board decided that we fit the vision of the organization.”
http://www.politico.com/story/2012/12/dick-armey-freedomworks-president-clashed-over-book-deal-84599.html?hp=f1
Go tot he Venetian and give him more money so he can spend it so wisely.
“…After spending more than $100 million mostly on losing Republican election campaigns this year, casino billionaire Sheldon Adelson said he planned to stay in the game and double down on his political donations…”
http://online.wsj.com/article/SB10001424127887323717004578159570568104706.html
KPCB
2012 Internet Trends (Update)
Published December 2012 by Mary Meeker and Liang Wu
This is an update to the 2012 Internet Trends report published in May 2012. It includes a new supplemental section focused on Asset-Light Generation and discusses new areas of re-imagination — from Data, Wallet, Education and Healthcare.
http://www.kpcb.com/insights/2012-internet-trends-update
also
http://www.slideshare.net/kleinerperkins/2012-kpcb-internet-trends-yearend-update
USA Inc. Key Points
by Kleiner Perkins Caufield & Byers on Nov 01, 2012
http://www.slideshare.net/kleinerperkins/usa-inc-key-points
Megan Mcardle on demographic decline… full of assumptions but interesting nonetheless.
http://www.thedailybeast.com/articles/2012/12/04/our-demographic-decline.html
Wall Street regretting their objection to Elizabeth Warren as head of Consumer Protection?
http://www.politico.com/story/2012/12/warren-senate-banking-committee-84561.html
Correcting the record? A twofer
http://www.thedailybeast.com/articles/2012/12/05/reagan-s-deal-with-democrats-for-tax-increases-paired-with-spending-cuts-is-a-myth.html
http://www.tnr.com/blog/plank/110770/obamacare-cannon-irs-federal-state-exchange-subsidies-bagenstos-jost#