My morning reads:
• Crony Capitalist Blowout (WSJ) see also Some Breaks for Industries Are Retained in Fiscal Deal (NYT)
• What’s It Gonna Be, 2013? (NYT)
• Defending Jim Cramer (Joe Fahmy)
• Tech’s Hot New Market: The Poor (Wired)
• Global Rally Is Tinged With Caution (WSJ) see also Stock market will blindside investors in 2013 (MarketWatch)
• Why the predictability of wealthy white people is Good News (The Reformed Broker)
• Are We All Being Fooled by Big Data? (LinkedIn)
• U.S. Internet Users Pay More for Slower Service (Bloomberg)
• 12 Unbelievably Awful Things Fox News Did This Year (AlterNet)
• Oldest Man Turning 115 Can Thank Lottery Win-Like Genes (Bloomberg)
What are you reading?
Risk Seen in Some Mortgage Bonds
Source: WSJ
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.
The Markets & the Cliff: Just Another Day in Beirut
http://www.economist.com/blogs/freeexchange/2013/01/markets-and-cliff
I thought this was the best read of the morning:
http://www.ft.com/intl/cms/s/0/8f45b6c8-54f5-11e2-a628-00144feab49a.html#axzz2GuU7cHLq
i’m glad someone is defending Cramer, an easy target. you can’t take his TV stuff seriously.
as a former journo, i liked his background as the Harvard Crimson editor, then working as a rookie reporter and stumbling onto the Ted Bundy murders, living out of his car in LA after his apartment was robbed, before going to law school and becoming a Wall Streeter. Cramer financial web pioneer, the roster of former Street.com, Real Money writers are impressive include our host BR, Jesse Eisenger, Herb Greenberg, Todd Harrison to name a few. Booya, party like it’s 1999 http://bit.ly/ZX4URe
Perhaps 2013 will finally be the year that Fox News becomes irrelevant.
In my never-ending drive to improve myself, I am reading Business Model You and this blog.
Energy independence is a myth.
http://oilprice.com/Energy/Energy-General/Energy-Independence-is-Nothing-but-an-Illusion-in-the-Modern-World.html
Patent lawyers going after users of technology.
http://arstechnica.com/tech-policy/2013/01/patent-trolls-want-1000-for-using-scanners/
Predictions of global warming are on target – again.
http://arstechnica.com/science/2012/12/ipccs-climate-projections-on-target-so-far/
Jim Cramer
The bulk of television programming is salad dressing for the brain: lots of flavor with little nutritional content.
If television eliminated the programming that is intended to dumb down the population, the only thing we’d have left is PBS.
With the US treasury backing CMBS from FHA (basically all of it), why should the yield not converge to whichever treasury bond matches the average maturity of the mortgages therein? Duh.
Good morning:
http://enenews.com/almost-entire-ground-level-northern-hemisphere-covered-radioactive-fission-product-after-311-study-impact-fukushima-radioxenon-releases-worldwide-xe-133-background-be-investigated-graphic
Have a nice day.
While I am generally aligned with the Michael Moritz’s piece “Are we all being fooled by Big Data?”, I resent the use of the phrase Big Data in the headline. Big Data refers to a very specific application of data storage and processing technology. In this case, the article body itself has no reference to the specific data storage and processing technology and is more broadly philosophical.
Seems like a somewhat obvious and cheap attempt (on part of the author, not Big Picture) to attract page views by referencing a hot tech topic in the headline. I didn’t top VCs were hungry for page views.
Fiscal Cliff and Broker Hype fueling another false housing recovery.
http://www.nytimes.com/2013/01/03/nyregion/late-rush-in-manhattan-home-sales-brings-2012-to-a-robust-close.html#commentsContainer
Here we go again.
Inventory is low.
Rates are historically low.
Buy now before it’s too late or get priced out forever.
it now is costing us more to distribute electricity than to generate it?
http://www.forbes.com/sites/williampentland/2013/01/02/the-perverse-economics-of-the-electric-grid/
and it will get worse?
Roubini is not optimistic!
“The reality is that America is yet to wake up to the full extent of its fiscal nightmare.”
http://blogs.marketwatch.com/thetell/2013/01/03/nouriel-roubini-is-not-an-optimist/
Josh (Reformed Broker) states
“…But here’s the part where I help you. Because while I have no special expertise or experience in forecasting the vicissitudes of core European diplomacy and socioeconomic policy, I do know white people. And I know wealthy white people, in particular. And wealthy white people, American or otherwise, can always be counted on to compromise at the last moment so as to preserve the status quo…”
“…use this heuristic as your map during future crises and watch how simply you can skip the show biz along the way and come right to the conclusion. No one except me will ever say this in public, but the big guys who stayed long throughout the rolling crisis avalanche of the past few years understand this instinctively and from vast experience thanks to their encounters with rich white guys in the wild…”
Can you imagine 435 guys like THIS deciding how to get our budget into balance? We should be so lucky.
not sure how this will work out, but instead of touch screens or mice, manipulate your computer/tablet using your hand without touching the computer?
http://www.wired.com/gadgetlab/2013/01/leap-motion-asus/
the Crony Capitalist Blowout is amazing
mainly for its source, the WSJ? given editorial staff thats pretty amazing in a good way
im otherwise trying to take the cliff deal as glass half or third full-probably because i like an argument
this deal
along with the earlier spending cuts
getting some tax increases through the house even if its mostly payroll tax (bad choice)
having either more cuts or a sequester in two months
is in the right direction and maybe a half or third of the needed
We need be careful of the timing
with weak growth there is only so muchfiscal austerity we should do
even 2 months is a little grace before next decision point
we do more sequester related or take a sequester(why not or defer more)
will give us more time to see how econ-and the addititional austerity just loaded in will go
this is one bloody ugly process, and sooooo far from perfect
but given the country at swords points over what perfect would be
i can deal with it.
lets hope Boehner gets re elected
Cantor would make both me and the markets puke
> U.S. Internet Users Pay More for Slower Service (Bloomberg)
“Still, other experiments are under way. In 2009, when Google Inc. announced it would conduct a fiber-to-the-home pilot project, more than 1,100 communities applied. The Kansas City area, the winner, is now enjoying the launch of a fiber network — the fastest and most reliable way to access the Internet.”
———
Including Seattle:
City of Seattle, University of Washington, and Gigabit Squared announce plan to develop ultra-fast broadband network
“Seattle just announced a plan to bring gigabit service to a dozen of its neighborhoods. Once an agreement is signed, the City, the University of Washington and Gigabit Squared–a digital economic development company—plan to build out wireless and wired connectivity to over 100,000 Seattle residents in the span of 24 months.”
http://goo.gl/sZHY5
although initially the focus is in neighborhoods with large UW medical and education facilities.
Obama’s been re-elected! He personally increased your taxes over the dead body of Grover Norquist!
This time, it’s REALLY time to leave the country!
And go where they welcome folks like you with open arms: RUSSIA!
http://www.nytimes.com/2013/01/04/world/europe/putin-makes-gerard-depardieu-a-citizen-of-russia.html
What’s dumber, voting for Boehner?
“…Some Republican conservatives registered their disapproval with the speaker by voting for others like Representative Eric Cantor of Virginia, the No. 2 House Republican, as well as Allen West, the fiery conservative from Florida who lost his seat in the November election…”
…Or voting for a guy that’s not even in the House?
http://www.nytimes.com/2013/01/04/us/politics/new-congress-begins-with-wishes-of-comity-but-
battles-ahead.html
There’s your GOP for you: voting for things that are impossible.
Branko Milanovic makes the case that measures to correct inequality are beggars wishes
http://blogs.hbr.org/cs/2013/01/why_income_inequality_is_here.html
and this article makes an opposing case.
http://halfanhour.blogspot.com/2013/01/income-inequality-and-wealth-tax.html
pointing out the obvious?
http://www.politico.com/blogs/politico-live/2012/12/brokaw-the-system-is-rigged-152993.html
Second… just watched Michele Caruso Cabrerra go nuts on Josh “Reformed Broker.”
What is her problem? Is she still and angry white male about Obama winning? Let the guest talk. you are not the story.