Some reads to help you through your day:

• The year in charts (The Economist)
• 2012 Was Good for Stocks, Bad for Stock Pundits (WSJ) see also Welcome to the new recession (MSN Money)
Santoli: In 2012, Many Felt the Market Was Rigged (Yahoo Finance)
• The Deficit: Not as Bad as They Want You to Think (The Ticker) see also Tax fairness and the wealthy (Washington Post)
• Missing The Big Japan Story (Tim Duy’s Fed Watch)
• China’s Bond Business Is Booming (WSJ) see also End of Affair With Corporate Bonds (WSJ)
• Venture capital didn’t build that (Los Angeles Times)
Baum: Twitter Saps Productivity, Facebook Makes You Fat (Bloomberg) see also 10 Signs Facebook Is Making You A Bad Person (Thought Catalog)
• ‘Brighter than a full moon’: The biggest star of 2013, Ison could be the comet of the century (The Independent)
• Behind the Album Cover (Neatorama)

What are you reading?

 

Checking Up on Post Bubble Markets: Tech vs Financials

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.

16 Responses to “10 Thursday AM Reads”

  1. VennData says:

    Keynes sounds like Kenya: We must drive the economy into the ground now to show Obama’s policies did not work.

    This will be better for the nation in the long run, that way Americans will always remember that Keynesian stimulus failed, and will conclude, like Wilie E. Coyotes that it will always fail and we will have GOP ruling reign of generations, which will fairly and rationally allocate the nation’s limited resources as we did under Bush.

    Bush! Boehner! McConnell! The way forward! Effective leadership … front the FRONT, not the back

  2. VennData says:

    “…Debt Ceiling Nears as Budget Talks Stymied: Treasury Says Borrowing Limit Will Be Reached Monday, Triggering Emergency Measures to Keep Government Operating,” by Damian Paletta and Janet Hook: “Boehner … said he would call members back with 48 hours notice if there was a deal to approve…”

    Yeah, don’t bother calling them back to actually work on it. Let them relax at home, drinking milk and cookies like Crapo.

    http://online.wsj.com/article/SB10001424127887323984704578203842315515834.html

    Do you GOPers realize your “optics” aren’t so great right now?

    Oh that’s right, you can’t pass the Obama/Reid. you can’t pass your own bill in the House. And you claim it’s Obama’s fault?! And 35% of the populace the hardcore, rock-ribbed base believes you?

    LOL, the GOPers are simply not operating in the real world. Looking forward to 2014 when we see the back of you asshats.

  3. coachin2au says:

    Interesting study on the rate at which “facts” are created and their half-life, during which half of them will be debunked and become obsolete.

    When I was a kid, Pluto was a planet. For my first and fourth kids, you were supposed to put babies on their back. Second and third, it was their belly.

    http://reason.com/archives/2012/12/24/half-the-facts-you-know-are-probably-wro

    Of course, the real takeaway is that this information is overwhelmingly likely to be incorrect or disproved at a later date. So take it with a grain of salt – unless it is true, which you can’t know. Crap.

    This article seems like it could be turned into a XCKD comic.

  4. James Cameron says:

    Starbucks’ grande confusion over the fiscal cliff

    http://goo.gl/S5RGV

  5. VennData says:

    Reid Says a Deal Is Unlikely Before the Fiscal Deadline

    http://www.nytimes.com/2012/12/28/us/politics/senate-leader-fears-not-enough-time-for-fiscal-deal.html

    So when we get austerity, I can’t wait for a bunch of old white guys, you know the ones that where those blue ball caps with the names of US warships on them, see the defense cuts and the cuts to their Medicare and VA benefits.

    When they turn to the little woman and say, “You mean I am the problem I’ve been bitching about?”

    That will be FUN…KNEE!

  6. rd says:

    Re: Tax Fairness article

    One thing unmentioned in the article is that there are far more taxes paid than just income tax. So it is impossible to discuss tax fairness without looking at the other taxes and credits that include FICA, property tax, sales tax, gasoline tax, earned income tax credits, farm subsidies etc.

    A classic example of this is going on in the current non-debate on the fiscal cliff and going virtually unmentioned in the press: Social Security and Medicare are paid for through the FICA payroll taxes and yet somehow they are getting tied into essential spending cuts in roder to cut a deal on income tax marginal rates.

    Social Security and Medicare are not funded through “income tax” but instead by a separate tax on income that is not being discussed for cuts. In fact the FICA taxes appear not to even exist, as Republicans believe that people who pay these taxes do not actually pay taxes but instead simply are eligible for unearned benefits paid for by people who don’t actually pay for the benefits. It is unclear why the two need to be tied together in order to get a deal. Income tax pays for things like defence spending, agricultural subsidies etc. that are apparently more essential than the things not being paid for by income tax.

  7. thomas hudson says:

    feinstein launches the first trial balloon on gun control:

    http://www.feinstein.senate.gov/public/index.cfm/assault-weapons

  8. thomas hudson says:

    samuel l jackson talks about his role in django, and comments on gun control:

    http://www.latimes.com/entertainment/envelope/moviesnow/la-en-samuel-jackson-django-unchained-20121227,0,6208036.story

    This movie has a fair amount of gun violence and can be a bit flippant about it. Does that give you pause in the wake of what happened in Connecticut?

    I don’t think movies or video games have anything to do with it. I don’t think [stopping gun violence] is about more gun control. I grew up in the South with guns everywhere, and we never shot anyone. This [shooting] is about people who aren’t taught the value of life.”

  9. Lukey says:

    @rd

    “Social Security and Medicare are not funded through “income tax” but instead by a separate tax on income that is not being discussed for cuts.”

    That is no longer the case. The “surpluses” in the “trust fund” have been stolen and spent. Now SS (and I believe also MC) is cash flow negative on an inclining scale (thanks to more baby boomers retiring every year). The deficit must be made up from general revenues (by redeeming the IOU’s that were put in there in exchange for the cash-ola). You may not like that this happened but you cannot assert that it has not, indeed, happened.

    ~~~

    BR: The money wasn’t “stolen” — it was used to purchase US Treasury bonds, backed by the full faith and credit of the USA:

    YALF! (Yet another Lukey Fail)

  10. James Cameron says:

    Re: Samuel L. Jackson:

    “I don’t think movies or video games have anything to do with it. I don’t think [stopping gun violence] is about more gun control. I grew up in the South with guns everywhere, and we never shot anyone. This [shooting] is about people who aren’t taught the value of life.”

    He has a vested interest in these films, of course . . . in any event, one wonders if our culture – including our films – doesn’t play a role in how we value life. No doubt this has been extensively studied, but I found no ready references.

  11. VennData says:

    House sets Sunday session

    http://www.reuters.com/article/2012/12/27/us-markets-stocks-idUSBRE8BG0D620121227

    For God sakes DON’T do anything that will make Obama look good! Stymie! Reject! Blame! Frustrate! …but don’t pass a bill to cut taxes!

    OBAMA MUST BE LIMITED TO TWO TERMS AT ALL COSTS!

  12. thomas hudson says:

    James Cameron:

    ‘ in any event, one wonders if our culture – including our films – doesn’t play a role in how we value life.’

    agreed. although i imagine a study would be difficult to do on this subject, you would be hard pressed to convince me that the impact is zero. my son got halo 4 for christmas, and i watched for awhile over his shoulder. constant gun violence, and he spent hours online with his buddies exploring the new game. entertaining for them, and the medium through which they communicate and spend their free time, but a little disturbing. i resisted for a long time letting him play these kinds of games, but it is what kids do now. and i am sure that 99.9% of them wouldn’t think to extrapolate their gaming experiences to real life, but it has to desensitize them to some degree.

  13. ilsm says:

    Unwarranted influence has kept the military industry complex trough out of the debate!

    The talking head says the cliff deal requires tax reform and entitlement cuts.

    While on TV the ad says the US navy a “force for good” at the expense of entitlements can rach out ad touch 80% of the people in the world for whatever. The backdrop is a super carrier with a deck filled with strike aircraft.

    Cut war spending by 70% then come talk about entitlement cuts.