My afternoon train reading:

• Would new Dow record set a bear market trap? (MarketWatch)
• The Rise of Finance (Ecan Soltas) see also Hidden profits, hidden rents (interfluidity)
• Personal finance media should be boring (Abnormal Returns)
Eisinger: A Revolving Door in Washington With Spin, but Less Visibility (DealBook)
• Keeping New York gasoline prices pumped (FT Alphaville)
Simon Johnson: Bernanke’s Credibility on ‘Too Big to Fail’ (Economix)
• Blueprint for an artificial brain (Terra Daily) see also Unleash Your Inner Jedi (MYO)
• Why Microsoft’s pushing Office subscriptions (PC World) see also Samsung takes a page from Apple’s Passbook with new Wallet app (The Verge)
• Document shows how much data cops suck up from suspects’ cell phones (arstechnica)
• The future of the bookstore: A real cliffhanger (Economist)What are you reading?

Whatchu talking ’bout Willis?



Sluggish economy may signal correction

Soure: CNNMoney

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.

9 Responses to “10 Thursday PM Reads”

  1. Petey Wheatstraw says:

    Bloomberg gets its bigotry on. Hard to believe they’re that stupid.


    BR: Cause they are not:
    Bloomberg Businessweek editor regrets publishing controversial housing cover

    Peru born artist drew it

  2. call me ahab says:


    Bob Woodward the clown? Man, nothing like getting bent over, beat and thrown under a bus. Dude was instrumental in bringing down Nixon, but I guess some folks are going to ask “what have you done for our side lately”?

    Anyhow the link I had emailed you about was about the sequestration hysteria and the fact checker column of my home town rag- The Washington Post:

    4 Pinocchios for Arne Duncan’s false claim of ‘pink slips’ for teachers

    My expertise in pinnochio lore is a bit wanting, however, I do believe 4 pinnochios would mean it is highly likely that he is a bullshit artist.

  3. RW says:

    As sequestration nears, federal workers brace for furloughs, vent anger at politicians

    This is the reality of the Sequester and part of the reason I believe the markets have not priced its consequences low enough.

    Not because I believe markets necessarily reflect the real economy — even before the era of QE that was only a greater likelihood rather than a given — but because I believe the collective evaluation reflected in current market pricing continues to (a) misjudge the depth of the right-wing crazy and (b) remains largely ignorant of the details of national accounting; e.g., the Sequester is wholly targeted at the discretionary federal budget so the argument that the amount involved as a % of total is relatively small is largely spurious (we’re talking hundreds of stalled or suspended programs and the partial or full furlough of nearly a million workers here).

    Shorter me: I am positioned for the market’s come to Jesus moment (hope it doesn’t take longer than a couple weeks as I’d prefer this be a swing trade).

  4. 873450 says:

    Negative Intellectual Equity Traps Mortgage Reform

    Eye catching headline cites report proposing government establish permanent safety net to back stop mortgage-backed securities market.

    Washington think tank Bipartisan Policy Center recommends winding down and replacing bailed out Fannie and Freddie with a government administered “public guarantor” to collect premiums and pay off investors purchasing mortgage securities comprised of loans up to $275,000 (90 percent of new home loans) if large losses render private securitizers and insurers insolvent.

    According to Floyd Norris:
    “Can the American mortgage market ever function again without Uncle Sam guaranteeing that lenders will be repaid? It is amazing just how few people think it can. … The panel, which included Frank Keating, the president of the American Bankers Association and a former governor of Oklahoma, does not see that as an indictment of the American banking system, which would much rather trade leveraged derivatives than keep a lot of mortgage loans on its books. … The group thinks investors will not be willing to finance enough mortgages — particularly 30-year fixed-rate loans — without a government guarantee.”

    Socialism for Plutocrats
    Taking entitlements away from seniors and the poor will be child’s play compared to taking them away from the financial industry.

  5. gfcz says:

    Im checking current sovereign debt ratings, and find myself impressed time over time:

    But after reading “This time is different” I shouldn’t be surprised right?

  6. Roanman says:

    We just lost a great book store around here as the owner’s kids viewed it as too much work (my opinion) and closed it up.

    As suggested in the piece above it combined antiquarian books with new titles, digital products and superior baked goods and coffee. I went to at least a dozen meetings there over the years held by guys who had retired their business to their home but would commandeer the back table for a half hour or so now and again.

    Now we’re down to Barnes and Noble who is seemingly moving into puzzles and educational children’s product.


  7. gordo365 says:

    Based on my Harpo Marx charting technique – the SP500 just finished leg 9 of 5 of a 100 fribonacci retracement. We have at least, or less than, an average chance of a half pike with a twist and solid landing. :)

  8. Jim67545 says:

    I’ve been puzzled how, with 25% unemployment and declining GDP, European banks and other lenders (such as insurers) are not reporting growing impairment of assets. This Reuters article may explain it:
    They are operating under an importantly different set of rules than the FASB rules we may know here in the US.