My morning reads for this lovely Tuesday:

• Big Banks Win, Taxpayers Lose as Fannie Insurance Overhaul Spiked (American Banker)
• Investors Rediscover Risk-Taking Abroad (NYT) but see The Case against Commodities and Emerging Markets (Behavioral Macro)
• Can mutual-fund managers block the Dell deal? (MarketWatch)
• Gary Shilling: Why You Should Sell Stocks And Buy Treasurys (Forbes)
• Gold: Hot at the Oscars, Not on Wall Street (The Fiscal Times) see also Gold’s Cycle Seen Turned by Goldman Sachs as ETP Holdings Drop (Bloomberg)
• Spot the Correlation: Wealth vs. Immigration (Mangan’s)
• The Phablet: Eyeing Apple (The New Yorker) see also ‘Shareholder Democracy’ Can Mask Abuses (DealBook)
• For the First Time Since Napster, Music Sales Are Growing (All Things D)
• The Incredible Shrinking Ad (The Atlantic) see also Content economics, part 1: advertising (Felix Salmon)
• Deep-Space Photos: Hubble’s Greatest Hits (TIME)

What are you reading?


Americans Back Spending-Cut Delay Amid Budget-Deal Push

Source: Bloomberg

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.

13 Responses to “10 Tuesday AM Reads”

  1. farmera1 says:

    We seem to be headed for a post work society, whether we want to or not.

    I see two main drivers; 1) Globalization, there will always be people that will work for less somewhere in the world, and companies will find them. 2) Robots, automation and the increasingly digitally driven world.

    A World Without Work

  2. Bob is still unemployed   says:

    I have to wonder what the companies that have outsourced business processes to China must be thinking now, with all of the cyberattack discussion of late. Is outsourcing to China just making it easier for a company’s intellectual property to be stolen? Or is it possible to put security measures in place to protect your intellectual property, regardless of who has access?

  3. Internet Tourettes says:

    Game Theory and Fiscal Policy Implementation:

    President Barack Obama broke Republicans once on taxes — and his risky strategy for winning the sequester fight assumes he’ll do it again.

    He will divide, isolate and defeat Republicans using all the powers of his office and all his skills as a political campaigner. As Americans grow frustrated with the cuts, Republicans will reject their party’s no-tax mantra and demand that Congress end the standoff, even if it means raising some new revenue – just the way Obama is demanding.

  4. RW says:

    QE liquidity is supposed to encourage more lending but, where there is liquidity and lending, … (ht AR)

    Leveraged loan market on fire

    As market participants rotate out of HY bonds, which have been frothy for some time …and into loans, we are seeing the beginnings of another QE-driven market frenzy. Covenant-light transactions are a large part of the primary market recently, …and deal leverage is increasing as well, with an average LBO at 5.5 times …

  5. VennData says:

    The Wall Street Journal Opinion page wants to dissect the WaPost’s anon. screed on gay marriage.

    “…That’s a straw man. We’ve been following this debate for years, and we’ve never heard opponents claim that same-sex marriage would diminish or endanger their own marriages. Their arguments are based on morality, tradition, and worries about the effects on the institution of marriage, on society as a whole, and on the rights of individuals and institutions that adhere to the traditional view of marriage…”

    So Rupert, please explain how this will effect their institution, our institution, society’s institution? Oh, You Don’t Mr. Murdock? Straw men are easy to shred, but you are not doing it. Explain how gay marriage “affects” marriage, Rupert Murdock. You are not explaining it. And then go on to accuse:

    “…Most journalists are anything but libertarian in areas where that would mean siding against the left, such as guns, education, taxes, nonsexual health care and nonmedia corporate free speech…”

    Straw men? Are you kidding me?

    Why are you paying any attention to the WSJ?

  6. willid3 says:

    more on bankster and their partners at the OCC and that supposed review of mortgages

    always wondered what work would remain once off shoring tool hold. and now adding more robots (consider GM. which produces more cars today than in did in the past, with less than a third of workers that it had in the past).
    and there was always that claim that we are loosing those jobs but new ones would replace them. which of course prompted the question, what jobs? in the last big change (from agriculture to manufacturing), it was painful, but at least more than a few new where to go. this time around. there is less knowledge about whats the new big thing. makes one wonder if there is a new big thing coming at all

  7. rd says:

    Here is a fascinating set of graphs that look at Federal Spnding over the past 20 years or so:

    The big rise in Federal spending was a gradual process throughout the Bush Administration. Spending has essentially flat-lined over the past 4 years (presumably since the GOP are focused on getting a communist President under control).

    Yardeni makes an interesting point that the entitlement spending is currently largely a transfer of payments within the economy so they don’t really change GDP but that the sequester will hit more discretionary spending and so its impact may be much bigger than the 2.4% of Federal spending that it represents.

  8. ilsm says:

    Petulant pentagon:

    The admirals and generals petulant children who are responding to paltry sequestration nipping at their pork by reducing civilians’ pay by 20% and threatening to stop painting lipstick on their expensive pigs.

    They are spreading fear and dismay, telling anyone who can be mislead that these paltry cuts will affect “readiness”. Their reducing readiness reports mean they will stop lying about how “ready” the US’ flying [steaming submerging tracked] pigs are to do battle against no one.

    As if keeping the 20 each multi billion buck a piece usually broke down B-2′s [one of about 100 examples] “ready” means anything to anyone outside those employed in the pork venture.