My morning reads:

• Capital Markets Party Like It’s 1989 (Barron’s) see also No One Remembers When Bonds Went Truly Bad (Businessweek)
• Mutual fund industry playing defense on 401(k)s (Reuters)
• State Lawsuits Could Add to S&P Exposure (WSJ)
• Why Do Banks Get Away With Murder? (The Daily Beast)
• U.S. Justice Dept, states weigh action against Moody’s (Reuters) see also Probe Adds to Rating Firms’ Woes (WSJ)
• Facebook is malware, people suddenly realize (COMPUTERWORLD)
• 10 Things Extraordinary People Say Every Day (Inc.)
• CBO: Deficit Shrinking At Fastest Pace Since WWII As GDP Sputters (
• No Reagan To Save Republicans From Themselves This Time (They Gave Us a Republic) see also Movement Conservatives and Tea Partiers Rise Up Against Rove (The Atlantic)
• Snapchat and the Erasable Future of Social Media (Businessweek)

Whats up for the weekend?

Chart of the day: Apple as the world’s No. 1 PC maker

Source: Fortune

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.

17 Responses to “10 Friday AM Reads”

  1. hue says:

    Imagine all the John Lennons, living a life of crime

    Rings of Fired: Pink slips touched 80% 21 is the new 1%?

  2. MorticiaA says:

    I remember when bonds went bad….

    One comment on the Inc. article “10 Things Extraordinary People Say Everyday.” I don’t fully agree with the first one, “Here’s what I’m thinking,” at least for professional females. I’ve had to learn over the years to be more foreceful with my opinions. I used to preface my comments when I offered input but learned that it did me more harm than good.

    I didn’t go the opposite direction, however, of steam-rolling everyone in my way; I simply learned to change my communication style b/c the verbal disclaimers come off as unsure from females.

    The other nine things are fine to say.

  3. VennData says:

    Mo’ Media, Mo’ Money

    Romney/Santorum was the preview for what’s going to happen for the next dozen years in the GOP. As all that money fights against itself, losing seats with screwballs, wasting resources on primary challenges.

    Rove can’t “impose discipline” on the Frankenstein monster of lunacy the GOP Media Machine has created.

    Haters? Sure they’re haters, but their trained haters. Fomented. Burnished. Nurtured.

    And the money flow their Supreme Court uncorked is there to enrich the GOP Media machine operators and that’s what’s most important to them. $$$

  4. James Cameron says:

    > CBO: Deficit Shrinking At Fastest Pace Since WWII As GDP Sputters

    “The main take-away from the Congressional Budget Office’s new fiscal and economic outlook is that, collectively, Washington has put deficit reduction way ahead of jobs and growth.”

    That may be the take-away of the author from a 74 page document, but it’s not a point the CBO ever made. Indeed, here’s the CBO:

    “First, under the current-law baseline, the projected debt is very high by historical standards. Throughout the 2013–2023 period, debt held by the public is projected to be significantly greater relative to GDP than at any time
    since just after World War II; at no time is it anticipated to fall below the percentage of GDP it represented in any year between 1951 and 2012. If the amount of debt held by the public remains so large, federal spending on interest payments will increase substantially when interest rates rise to more normal levels. Because federal borrowing generally reduces national saving, the stock of capital assets, such as equipment and structures, will be smaller and aggregate wages will be less than if the debt were lower. In addition, lawmakers will have less flexibility than they ordinarily might to use tax and spending policies to respond to unanticipated challenges. Moreover, such a large debt poses an increased risk of precipitating a fiscal crisis, during which investors would lose so much confidence in the government’s ability to manage its budget that the government would be unable to borrow at affordable rates.”


  5. econimonium says:

    Wow, I learned something. Tablets are now PCs! And here I thought they were…um…tablets. Since I’m in the biz, the are NOT PCs. Period. Anything to hype Apple huh? ;)

  6. JimRino says:

    Here’s a Black Swan Event Everyone should see coming.
    Republican Gerrymandering is destroying Representative Government, gives control to Republican, and therefore more control of government to Corporations.

  7. farmera1 says:

    Here is another straw in the wind. Great Lakes are shrinking. Already hearing noise about cutting back on irrigation in the water shed. That will not end well. Much of the countries seed corn is grown in the water shed feeding the Great Lakes, all irrigated. Talk about a multiplier effect.

  8. VennData says:

    Super Bowl blackout. Where was the “competent” Bobby Jindal whose trying to remake the GOP?

    Yeah, those Red States are soo…. techno.

  9. willid3 says:


    economists worked with politicians, and wonder why their magical solutions dont work in the real world?

  10. AHodge says:

    Neil kashkari
    who staffed out the no bank bondholder left behind bailout for geithner
    leaving as head of Pimco equities to “explore other opportunities” apparently back in govt.

  11. WFTA says:

    10 Things Extraordinary People Say Every Day (Inc.)

    This article was excellent. Thank you for pointing it out.
    Watch the weather and have a swell weekend.

  12. formerlawyer says:


    Regarding the great lakes, there is a more sanguine post at:

    The take away :”There’s too little data to say the problem is a product of global warming, he said. It’s also a cycle that’s been seen before. Lake levels were nearly this low in December 1964, and it’s the March 1964 record that’s likely to fall in the next few months. There is hope, he said. Records dating back to 1918 would seem to indicate a cyclical pattern that could well result in record lake levels in the next few years, he said. Such swings occurred in the 1970s and 1980s after similar low points.”

  13. RW says:

    The Reuter’s article on 401k’s appears to take seriously the red herring introduced by industry representatives that the tax deferred status of the 401k program may be under threat (bullshit) and generally takes a positive, one might say stenographic, approach to the industry which is currently battling some “troubling” news.

    The article doesn’t say much about that “troubling” news other than to imply it is rather recent and mostly in the form of excessive 401k loans but studies and briefs such as those from the Center for Retirement Research tend to paint a bleaker picture WRT defined contribution plans and that picture has some chronic ‘troubling’ elements.

    In short a lot of citizens are already facing poverty during retirement and, given prevailing wage levels insufficient to an adequate savings rate (in addition to a lot of crappy 401k plans) as well as debt load from education costs, it is not looking any better for younger generations either; e.g., 401Ks are a disaster: Column (The author is an economist who blogs as “Atrios” at Eschaton).

  14. from WTF? files..

    “…On October 3, 2008, President George W. Bush signed into law “Child Soldiers Prevention Act of 2008,” a law that made it a federal crime to recruit or use soldiers under the age of 15. The law also gave the United States authority to “prosecute, deport or deny entry to individuals who have knowingly recruited children as soldiers.”

    The bipartisan law, which was passed unanimously by both houses of Congress, drew the applause of several international human rights organizations:

    “The US is saying to the world that using child soldiers is a serious crime and that it will take action,” said Jo Becker, children’s rights advocate for Human Rights Watch. “Military commanders who use children can no longer come to the United States without the risk of ending up in jail.”

    Over the weekend, while most Americans were too busy spending time with their children and keeping up with the latest sporting events to worry about executive orders, President Obama removed the teeth from this law; effectively making it void in the nations most guilty. The result – thousands of children throughout the Middle East and Africa may be drafted into foreign militaries, with the full blessings of the United States…”

    then closer(?) to Home, We get..

    regardless, Forward.

  15. Iamthe50percent says:

    No, as a former IT professional, I don’t consider tablets as PC’s. They are more like dumb terminals and should be classed with smartphones.

  16. ToNYC says:

    The Fortune graphic is emblematic of the end stage of information or the new misinformation. When you see charts that look like activity in a stock inside of three, one- eighth old school ticks to keep the narrative riveted, perhaps we should see parentheses in all charts to fully-disclose the picture is a lie and worse than silence and simply smoke and mirrors media politics to buy circus eyeballs.