My morning reads:

• Buy High, Sell Higher? (World Beta) see also Dow Average Rises to Five-Year High Amid Housing Report (Bloomberg)
• My Theory of Asset Pricing (The Aleph Blog)
• Too Big to Fail Rules Hurting Too Small to Compete Banks (Bloomberg) see also Volcker Rule Could Be Delayed—Again (WSJ)
• A powerful convexity in short-term Vix futures (FT Alphaville)
Robert M. Solow, Nobel laurelate at MIT: Our Debt, Ourselves (NYT)
• Ben Bernanke to Congress: You’re doing it wrong (WonkBlog) see also Happy 100th Birthday to the U.S. Federal Reserve (All About Alpha)
• A Few Notes on The Art and Science of Technical Analysis (CXO Advisory)
• Anti-Capitalist Ideology Animated First ‘Monopoly’ Game (Echoes) see also Pro bonus (Economist)
Today’s OMG/WTF headline: Obama’s SEC Pick Wary of Zealous Wall Street Prosecutions (Bloomberg)
• Why doesn’t anybody copy Apple? (ASYMCO) but see Why Nobody Can Copy Apple (cek.log)

What are you reading?


Hidden Risks of a Hard Landing in China

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.

6 Responses to “10 Thursday AM Reads”

  1. DeDude says:

    We have already instituted austerity:

    and as anybody with a brain could have predicted doing so in a slow economy leads will make it stall:

    so why don’t we act like real morons and do some more austerity

    I mean the confidence fairy will be here in a moment and save us all – right – right —–

  2. rd says:

    Jamie Dimon: “That is why I am richer than you”

    Somehow, I don’t think that Jamie Dimon would be quite so wealthy tomorrow if Ben Bernanke and Jack Lew made a joint announcement today that the concept of TBTF was no more and the big banks were on their own.

    Life is just so much easier if the US government is guaranteeing your wealth.

  3. RW says:

    Only 6% Of Public Knows Deficit Is Declining

    At the current rate of decline there will be no deficits within three years with the national debt falling correspondingly thereafter.

    Now on with regular programming: “As the Sequester Turns,” followed by everyone’s favorite, “All My Unemployed.”

  4. Mike in Nola says:


    It depends on who your perceived customer is. Apple is a consumer electronics company and it did a great job of roping in consumers with nice products.

    Microsoft’s main customers have been businesses using many of those billion+ copies of Windows that have been sold. It has served those customers very well. They want predictability and long term support, e.g. XP being supported for over 10 years even though it’s extremely dated and sucks bad at this time. But it’s what many customers still want. What they don’t want is a guy in a turtleneck telling them: “we have this new magical product and none of your hundreds of millions of dollars of computer infrastructure will work with it. All you suckers need to upgrade all your hardware.”

    Microsoft’s problem at the moment is it’s awkwardness as it attemps to shifting focus to be more consumer oriented. They still don’t quite get it.

    A lot of success is being in the right place at the right time with the right products, as Bill Gates freely admitted back when he was the worlds richest man. It remains to be seen whether Apple will continue to be in that position in the face of extremely fierce competition.

    Samsung is trying to do to Apple (and others) what Microsoft did to Apple (and others) 20 years ago. And it stands a very good chance of succeeding, so much so that Google is even starting to fear Samsung. That’s the problem with releasing a free, customizable OS: someone as powerful as Samsung could customize you right out of their ecosystem.

  5. rd says:

    The financial sector may have finally jumped the shark:

    Apparently, parents of college bound children don’t have enough income to save for the greater than inflation increases in college costs their kids face, so the fianncial sector figures a good place to tap for 529 savings plans are the grandparents.

    I can’t even count the number of current fundamental societal challenges are integrated into this desperate grab for more assets to separate from their rightful owners.

    Re: the WTF/OMG headline – I didn’t realize there were any Wall Street prosecutions to speak of that would even require discussion.

  6. Jojo says:

    Are Millennials a “Lost Generation”?
    27 Feb 2013

    It’s hard out there for a Millennial. While the national unemployment rate has kept firm at 7.9%, the jobless rate for Millennials (or the 80 million Americans born between 1980 and 2000) continues to increase, reaching the alarming rate of 13.1% in January.

    The Pew Center calls Millennials the “boomerang generation,” because nearly 40% of all Americans between the ages of 18-34 still live at home with their parents; numbers this high haven’t been seen in over 70 years. And the boomerang trend is expected to continue or even worsen. The National Bureau of Economic Research reports that those who graduate during a recession will earn 10% less over a decade of work. Unfortunately for Millennials, research shows that 70% of overall wage growth occurs in the first 10 years of one’s career.

    But those who do manage to find jobs are also struggling. Young people with high school degrees have seen their inflation-adjusted wages decline by 11.1%; college graduates have seen a smaller, yet significant, decline of 5.4%, according to the Economic Policy Institute.

    As a result, Millennials aren’t taking on debt or making economy-boosting purchases. Young people aren’t buying houses or cars and they’re delaying marriage and children. According to The Pew Center, home ownership amongst young people has fallen from 40% in 2007 to only 34% in 2011. 73% of young households owned or leased a car in 2007 compared with only 66% in 2011.