My early morning pre-travel reading:

Getting Technical: Apple Still in Rising Trend (Barron’s) but see How Apple ate Wall Street: No company has ever had as big an impact on your portfolio (Marketwatch)
• Market Bears on the Brink: ‘I Can’t Fight It Anymore’ (CNBC)
• The Dual Duties of the Next S.E.C. Chief (NYT) see also A Signal to Wall Street In Obama’s Pick For Regulators (Dealbook)
• Natural gas is just what clean energy needs (Fortune)
Norris: Housing Offers Hope of Strength in the Economy (NYT) but see Gross: Housing’s Back—and That’s Bad News (Daily Beast)
• Stories, Control, Fundamentals and Panic (Psy-Fi Blog)
• The truth behind Mickelson’s taxes (CNN/Money)
• JP Morgan CEO condemns ‘five years of scapegoating’ of banks (theguardian) see also Timothy Geithner on Populism, Paul Ryan, and His Legacy (The New Republic)
• Journalists in the service of Pete Peterson (Remapping Debate)
• A $17-billion RIA doubles down on a social media strategy that netted it 50 Facebook employees (RIABiz) see also Why sudden wealth at Facebook is gushing into a $17-billion RIA and triggered a merger of two DFA giants (RIABiz)

Whats up for the weekend?

 

Aging US Labor Force

Source: Economix

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 Friday AM Reads”

  1. PeterR says:

    Traveling? Uh oh . . .

    What is the current reading on the BRTI?

    Futures and Europe, nay even AAPL, look OK!

    [BRTI -- Barry Ritholtz Travel Index]

  2. BennyProfane says:

    I’m sorry I called Mickelson a scumbag. He graciously apologized the other day about his obviously uninformed remarks. But, I still agree, he needs some serious financial advice, before he opens his mouth again.

  3. Moss says:

    Five years of scapegoating?
    These guys never cease to amaze. How on God’s earth do they feel that society owes them something?

  4. stonedwino says:

    Mick should stick to talking about golf and only golf…

    As for that Labor Force Participation ratio for people over 65…the top three, Mexico, South Korea and Iceland all have one thing in common – huge immigration of young people to other countries. All 3 of them have a huge chunk of their young people leave the country and go work elsewhere, leaving older folks to fill the ranks. The vast majority of the countries with low senior participation rates just happen to have some of the best social safety nets in existence, except for the likes of Russia and South Africa. Very interesting chart…

  5. Mike in Nola says:

    If you have a Capital One bank account, forget about online banking for the moment. Tried to get on yesterday before going to see a local about a bogus service charge. The wanted 5! new security questions, like you’ve got nothing else to do. Then after you finish that BS, it won’t connect anyway.

    Tried again this morning with both IE and Firefox with same result. Called and got a girl who was probably hired for her patience. She said that they were updating their system and there was no estimate of when it would be back online.

    I suppose I have to increase my cash stash against the day the net breaks entirely.

  6. willid3 says:

    just a thought…maybe capitol one is trying to keep all the cash they can? cause its really odd to update such systems…during the week..usually that will done one weekend….like sunday morning at 1 am.

    its just a rumor that the middle class is in trouble. some can find some statistics to back up their claim. reminds one of Mark Twain once said that there are three types of lies: “Lies, damn lies and statistics.”

    http://www.dailyfinance.com/2013/01/24/AEI-middle-class-better-off-perry-boudreaux/

    so long as you are healthy and already educated (and dont have a huge college loan) you are doing just swell.

  7. rd says:

    We keep being told that companies must be ruthlessly efficient on employees’ pay in order to be competitive in the global market place. We are also constantly told that financial sector employees and executives must be given outrageous pay levels so that they will stay and not bolt to competitors.

    So, why is Goldman Sachs, a ruthlessly efficient public company, grossly overpaying their CEO since he has said that he would not leave if his pay was cut? Is the board of directors actually doing their job maximizing returns for their shareholders?

    http://www.bloomberg.com/news/2013-01-25/blankfein-says-he-wouldn-t-leave-goldman-sachs-if-pay-were-cut.html

  8. rd says:

    Stonedwino:

    The labor participation rate shows what a basket case many of the Europena countries are. Their old folks aren’t working but neither are their young folks since the unemployment rates of the people under 30 are 25% or higher in countries like Spain and Greece.

    In the US, we have a relatively high unemployment rate for young people but at least their parents and grandparents are working. As they retire over the next decade, those jobs will be able to be transferred to the younger generations. If people in their 40s and 50s can be saving money so that they can retire in their mid-60s, then that will open up many opportunities for younger workers a decade or two from now and will likely be one of the last keys to ending this depression.

  9. mad97123 says:

    A point made in “Market Bears on the Brink” hasn’t been getting any atention.

    “So this earnings season is treated as good news, even though fully 70 percent of all companies on the S&P 500 have lowered their first-quarter outlooks, and fourth-quarter profit is a paltry 3 percent against expectations of 11 percent just a few months ago.”

    Nice line “The market’s not climbing a wall of worry – it’s not worrying about anything. “

  10. wally says:

    The chart for Labor Force Population Ratio bears some correlation to life expectancy charts. Makes sense… in places where people don’t live as long, they don’t work as long.

  11. James Cameron says:

    George Soros predicts riots, police state and class war for America, Jan 25, 2012

    “I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”

    http://goo.gl/Bq7Ry

    Soros sees soaring interest rates, strong euro, Jan 25, 2013

    “The U.S. economy is picking up steam and the Fed’s quantitative-easing approach is helping, but investors should watch out for a possible spike in interest rates once growth is well under way, billionaire financier George Soros warned as he made the rounds at the World Economic Forum in Davos.”

    http://goo.gl/we2ZO

  12. rd says:

    James Cameron:

    The George Soros comments are not contradictory. If the deficit and spending hawks cut things like unemployment insurance, Earned Income Tax Credit, food stamps, current Social Security payments and retirement dates then we would be seeing contraction occurring last year and this year and his first statement would probably be true.

    However, since they talk much more about spending cuts than they actually propose, especially for short-term spending which is what is driving the current deficit (along with reduced tax collections), the US has not been subject to anywhere close to the European reducitons in spending in their austerity drive. So we still have some, although anemic, growth.

    Consistent good growth would push both short-term and long-term rates up since the Fed would move away from both ZIRP and QE. A question then would be how the stock market would react to competition from 2% money market rates and 4% 10-yr Tr rates?

  13. willid3 says:

    hm…if the GOP can’t win a national election.
    cheat?
    http://www.businessinsider.com/republicans-electoral-college-plan-2013-1

    while i can see going back to the way the electoral college was suppose to work. but it would need to be nationwide and the number of votes should be on percentage of voters by state.

  14. Jojo says:

    Pretty cool technology but a problem for concealed permit gun carriers. No more hiding…
    =========
    NYPD Commissioner says department will begin testing a new high-tech device that scans for concealed weapons
    The device, which tests for terahertz radiation, is small enough to be placed in a police vehicle or stationed at a street corner where gunplay is common

    By Rocco Parascandola / NEW YORK DAILY NEWS
    Published: Wednesday, January 23, 2013

    The NYPD’s newest asset in its battle against illegal handguns: a scanner that tests for radiation and can reveal a concealed handgun.

    Get ready for scan-and-frisk.

    The NYPD will soon deploy new technology allowing police to detect guns carried by criminals without using the typical pat-down procedure, Police Commissioner Raymond Kelly said Wednesday.

    The department just received a machine that reads terahertz — the natural energy emitted by people and inanimate objects — and allows police to view concealed weapons from a distance.

    http://www.nydailynews.com/new-york/nypd-readies-scan-and-frisk-article-1.1245663

  15. willid3 says:

    if they can do that…why dont they do it at the airports? i know it wont solve all of the problems as they are looking for more than just guns…

  16. VennData says:

    Dwight Howard wants the negativity to stop.

    http://espn.go.com/los-angeles/nba/story/_/id/8881867/dwight-howard-los-angeles-lakers-wants-negativity-stop

    Maybe they should bring in Odd-ball as a Special consultant, “Why don’t you knock it off with them negative waves? Why don’t you dig how beautiful it is out here? Why don’t you say something righteous and hopeful for a change?”