My morning reads:

• Is The US Already in Recession? No (Tim Duy’s Fed Watch) see also Fighting Recession the Icelandic Way (Bloomberg)
• Risk and Reward in High Frequency Trading (Rajiv Sethi)
• If We Don’t Measure Leverage, We Risk More Crises (Bloomberg)
• Europe clings to scorched-earth ideology as depression deepens (The Telegraph) see also Central Banks Ponder Going Beyond Inflation Mandates (Bloomberg)
• Who is Ken Fisher and How Can He Afford All Those Investment Advertisements (Wall Street on Parade)
• When global banks fail, resolve them globally (FT Alphaville)
Today’s WTF headline: Bowles-Simpson Raises Taxes on the Super-Rich More Than Obama (The Atlantic) see also The Republican Tax Panic (WSJ)
• Divining the Weather, With Methods Old and New (NYT)
• How Corruption Is Strangling U.S. Innovation (Harvard Business Review)
• How To Hack Chipotle (Thought Catalog)

What are you reading?


2012 YTD Country Returns

Source: Bespoke

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.

12 Responses to “10 Monday AM Reads”

  1. DSS10 says:

    Economics Puzzel of the Day:

    Declining labor share of non-farm business sector output:

    My bet is that it is out sourcing not being treated as a labor expense or declining wages in the manufacturing sector:

  2. Moss says:

    The Global bankster fraud and corruption is nothing more than mind numbing. The fact they can remain in business … depressing.

  3. VennData says:

    Why did the chicken cross the river, and die?

    Apple Maps said it was a road.

  4. Jojo says:

    Why does the MSM continue to allow Boehner and Republicans in general to keep repeating the same debunked statements about low tax rates helping create jobs and small business being the primary job creators in the USA?
    NY Times
    December 7, 2012
    Jobs Report Becomes Fodder in Fiscal Debate

    WASHINGTON — Democrats and Republicans seized on November’s job numbers on Friday to press for a compromise on a deficit deal, as Speaker John A. Boehner opened the door slightly to tax rate increases as part of a broad fiscal package.

    Mr. Boehner, meeting with reporters, declined to rule out a rise in the top income tax rate below the level President Obama wants, only to reiterate later that his opposition to tax rate increases remained unchanged.

    Mr. Boehner later released a statement saying: “As I’ve said many, many, many times: I oppose tax rate increases because tax rate increases cost American jobs. That has not changed, and will not change.”

    [Jojo - So then why have we had such poor job growth under BOTH GWB and Obama despite low Federal tax rates for the purported "job creator class" over the last 10 years? And WHY was job growth under the Clinton Admin so much greater with higher tax rates? Clearly the low tax rates have not done what the Republicans keep insisting they do, which is create more jobs. The evidence is clear. Repeating this untruth is simply propagating propaganda at this point.]

    Mr. Boehner continued to say that his opposition to allowing the top two rates to rise from 33 percent and 35 percent to 36 percent and 39.6 percent stems from fears of the impact on small businesses that pay ordinary income tax rates, not the corporate tax rate. About 97 percent of small businesses do not turn enough profit to be affected, but Republicans note that more than half of small-business income — from the most profitable businesses, partnerships and limited liability corporations — would be hit by the increases.

    “The risk the president wants us to take with increases of tax rates will hit many small businesses that create 50 to 70 percent of the jobs in our country,” Mr. Boehner said. “That’s the whole issue.”

    [Jojo – 1. But if 97% of the small businesses are not affected, then we are ONLY talking about a measly 3% being affected. And these most profitable small businesses would be affected only to the extent that they report their income as individuals AND only on the amount over the proposed $250k income number. So the impact should not be very great at all.

    2. The old saw about small business being the main job creators has been debunked in the past. It is actually BIG businesses that create the most jobs, e.g:

    So let’s move on and stop proclaiming that small businesses as the major job creators in the USA – because they are not.]

  5. Joe Friday says:

    Bowles-Simpson Raises Taxes on the Super-Rich More Than Obama

    Except O’Brien overlooks the fact that many of the tax expenditures that Bowles-Simpson proposes to eliminate are pie-in-the-sky and will never happen.

    It’s easy to put out fantasy plans and then rail against everyone who refuses to capitulate.

    Both Bowles and Simpson should refrain from being whores-for-hire and get real jobs.

  6. AHodge says:

    Im reading the latest European IP data out today
    QUOTE The fall in Italian output (1.1% tho with a prior month fav revision) mirrored a much steeper than forecast 2.6 percent monthly slump in production in Germany, Europe’s largest economy, and a 0.7 percent fall in FranceUNQUOTE

    wait till you see the Dr Ed country industrial production charts for october
    now thats a cliff they have stepped off for 2 months
    their hair is on fire

    but somehow markets dont care much–yet– except for monti leaving, sorry to see him go. the eurp is actually up today

  7. Gnatman says:

    Apparently I work for a right wing nut case, because he terminated the 401K plan for all employees. He cited many articles on fiscal cliff potential outcomes as a severe enough risk. Thinking that the Government potentially would confiscate 401K assets to be redistributed “like health care”.

    I started googling “401K nationalization” and found many articles that don’t seem to make it to the MSM. I have to ask if he is in favor of secession.

  8. rd says:

    Apparently the Aussies are getting ticked with Apple Maps causing people to get stranded in very dangerous places:

    On a personal note, I took my iPod in for repair of the defective power button. When they tried to enter my address, their program on their cute little iPads kept refusing my state and substituting Alabama for it because it didn’t believe that my town existed in my state. Apparently, they didn’t program Apple Maps with my town, so Apple Maps believes I live in Alabama instead.

  9. Nick @ PFD says:

    Hi Barry,

    If you’re intrigued by Chipotle-hacking, might I humbly suggest my own blog entry on how to get B of A to pay for a Hawaiian vacation? (Apologies in advance if it’s bad form to plug my own blog here).

    Of course, Pudding Guy remains my all-time favorite travel hack:

  10. Joe Friday says:


    Apparently I work for a right wing nut case, because he terminated the 401K plan for all employees. He cited many articles on fiscal cliff potential outcomes as a severe enough risk. Thinking that the Government potentially would confiscate 401K assets to be redistributed ‘like health care’.

    My sympathies.

    It is shocking the level of ignorance among so many so-called businessmen. How they remain in business is a mystery.

    Just saw a guy profiled the other night on the news who was lambasting Obama because he claimed his taxes were going to increase because his business has more then $250,000 in PROFITS. Except the proposal is to increase the tax rate for TAXABLE INCOME over $250,000. One would need to subtract deductions, and credits, and write-off everything that isn’t nailed down and depreciate everything that is nailed down, and even more from those profits to get to taxable income.

    Reminiscent of that idiot ‘Joe the Plumber’, who complained to Obama that his plumbing business (which only existed in his mind) would have more than $250,000 in REVENUES and be subject to a tax increase. NOT.

    Egads, what ignoramuses.

  11. Greg0658 says:

    JoeFri .. grabbed this oldPost as an assist:

    it explains the fact is abit off as they:
    “Williams also pointed to a company press release, from April 17, on taxes paid by GE. According to that release, GE paid an effective global tax rate of 7 percent in 2010, counting money paid “to the IRS and foreign counterparts” in other nations. That rate was particularly low, Williams said, because the company lost $32 billion in its financial business during the global financial crisis”

    I say: we don’t have a money velocity stall problem – we have a coagulation problem
    thats good in blood vessels but not so good in money flow .. it creates starvation