My afternoon train reading:

• Transports: On the Road Again (Dr. Ed’s Blog)
• Dow Theorist (and Uber Bear) Richard Russell Flips Bullish (MarketBeat) see also The Most Inevitable Market Headline of All Time (The Motley Fool)
• Five reasons the payroll tax hike won’t kill US consumers (Quartz)
• Banks’ Debt Addiction Said to Face Scrutiny at Basel Group (Bloomberg)
• Big Sugar Is Set for a Sweet Bailout (WSJ)
• Nothing’s Stopping America’s Enemies from Smashing Our Power Grid (Business Insider) • Is Paul Ryan an Inflation Nutter? (Bloomberg)
• Apple’s plan for its cash: stock buyback or more dividends likely coming this spring (Quartz) see also How Google Grabbed Apple’s Groove (The Fiscal Times)
• Android Owners Aren’t Real Smartphone Owners (Business Insider)
• Richard Feynman on the Universal Responsibility of Scientists (brain pickings)

What are you reading?


10 Corps Increased Offshore Holdings by $5 Billion or More in 2012

Source: CTJ

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.

15 Responses to “10 MidWeek PM Reads”

  1. farmera1 says:

    The Chinese have come up with a fool proof way to deal with bankers that were involved in the shadow banking system, they shoot’m.

    White collar executives get sentenced to death for their role in the shadow banking system.

    Read more:

  2. Joe Friday says:

    Android Owners Aren’t Real Smartphone Owners

    Conflates the low-end of the Android market with the “Real Smartphone” part of Android market. Particularly because the Android ‘real smartphones’ can do so much more than the Apple ‘real smartphones’.

    And this gem:

    all this is why it can be stupid to compare Android and Apple market share

    is merely a feeble attempt to try to explain away why Android has over half the market share of subscribers.

  3. DeDude says:

    The off shore holdings table suggests we need a tax on offshore profit holdings – nothing that can’t be fixed with a little financial incentivising.

    The comments on that “Ryan nutter” piece on Bloomberg are fun – talk about nutters going nuts.

  4. willid3 says:

    another country looking at controlling exec pay.

    hard to argue when the example of self control of management pay is BMW
    and Mercedes is the example of lack of control?

  5. Mike in Nola says:

    The NOLA Times Picayune has a nice write up taken from the AP on the new Pope. Can’t agree with everything he’s said but he’s probably as far center as you could expect given the electorate appointed by John Paul II and Benedict. Criticizes the IMF and Neoliberals which is a pretty good start. Some say Benedict resigned to allow a successor to come in and clean up the curia. I figure the child abuse coverupers will die off and tend to take care of itself but the Curia is a self-perpetuating bureaucracy..

  6. rd says:

    Asymetric warfare.

    The US has spent the lion’s share of the world’s military spending over the past few decades. however, since Vietnam, it is clear that massive firepower and high-tech wizardry alone is not enough to defeat enemies that can fight asymetrically. The US could crush anybody in conventional tank, naval, or air battles. However, the gaps in infrastructure protection against Internet hacking are the types of things that a remote enemy can exploit. You can’t even bomb them in retaliation because you may not know who they are.

    Instead of $400B boondoggle bribery programs like the F-35, we need some real creative national defence thinking that looks at true total warfare, especially on the defence side. We have spent almost half of the last 50 years in the Vietnam, Afghanistan, and Iraq engagements with very poor results despite having the strongest military that the world has ever imagined. Enough of these endless wars against people who are one step removed from the Stone Age but we still can’t defeat because they won’t “stand up and fight like a man”.

    We need to use intelligence to address the threats of the future. Diverting overblown military hardware spending on protecting infrastructure and other vital elements is a crucial part of that. My understanding is that we are even getting to the point of losing old weather satellites without having budgeted for replacements yet the politicans have deemed it essential to build parts for a plane with unclear potential to ever be useful in every Congressman’s district. It took quite a while for Rome to fall, but it was increasingly stupid policies like these that doomed it.

  7. ilsm says:

    The new pope may have experience at damage control after the church’s collusion with the military dictatorship, what did he do during the oppression?

  8. Mike in Nola says:

    rd: Have you read Michael Scheuer’s books? Stupid foreign policy is a big part of our problem plus having our media recast important enemies the way our government wants them seen instead of how they are. As BR preaches, it doesn’t do any good to fool yourself (although I do a goo bit of that in investing.).

    Imperial Hubris is about as good a dissection as I’ve seen of our stupidity in dealing with threats. I just finished his book on Osama which showed the divergence between how he was painted and how he was. There was a lot of strutting after Osama was killed as if the war was won, but we retreated from Iraq and are retreating from Afghanistan leaving populations not very favorably inclined to us. Then there’s the consequences of the Arab Spring.

    Just found that he has a website:

    Of course, I’m sure not everything he says is right but it’s far superior to what comes out of our media and politicians.

  9. willid3 says:

    so the UK austerity program is the cause of their recessions? in spite of protests to the contrary by their fearless leader?

  10. willid3 says:

    time to retire the grand experiment, the 401k? since it doesnt seem to work. and many dont even have it to retire on any way

  11. RW says:

    Fed Watch: The Importance of Printing Your Own Currency

    Time and time again, Japan sticks out like a sore thumb that those preaching the unsustainability of government debt want to sweep under the rug with the “Japan is a special case” story (a country fixed effect). But it seems more likely that Japan’s economy is behaving exactly as you might expect given that it issues debt in its own currency. In other words, Japan is just a normal case pushed to the extreme.

    And what the standard ‘neoKeynesian’ model (or just straight IS/LM if you prefer) also predicts as normal…

    Japan Is Hot: Fund Net Inflows Highest Since 2007

    …Net inflows into Japanese mutual funds reached $10.83 billion last month, nearly a six-year high.

    It marked the fifth straight month of net inflows for the investment vehicles known as toushin, …[A] representative of the Investment Trusts Association of Japan touted what he views as a shift in sentiment, telling reporters that he believes investors in the world’s eighth-largest mutual fund market have finished profit-taking and are now feeling more convinced about future gains.

  12. ilsm says:

    “….but we retreated from Iraq and are retreating from Afghanistan leaving populations not very favorably inclined to us.”

    How many times do we have to go through the quagmire to learn we cannot kill enough of the enemy to make them favorably inclined to us?

    Despite all the money killing them takes from better uses, it is profitable.

  13. brianinla says:

    Yeah ok RW if Japan’s economy is so great why did the number of people on welfare just hit an all-time high?

    It’s just like how the Dow is at all-time highs and so is the number of people on food stamps in the US

    What happens in the markets is only being done to help the top 1%. It’s trickle down theory at its finest.

  14. Brendan says:

    If “probably because they don’t actually buy them” is Business Insider’s conclusion from the statistics they cite, then I’m sure as hell not going to take their advice on much! That passes for analysis over there? The causality connection is severely lacking.

    I can’t get really excited about the Apple versus fill-in-the-blank (PC, Android, Google, etc.) mud-slinging, but come on, people don’t get Androids if they aren’t going to use them even if they’re “free.” It’s abundantly clear to most people with half a brain that they’re spending an extra $720 (give or take depending on your carrier) over your two year data contract versus a flip/slider phone… which you can still get… also for free. I don’t even think Vince of “Slap Chop” fame can sell a bottom of the line Android for 24 easy payments of $30! But wait, there’s more: free apps that you won’t use!

    If Androids and iPhones are the Swiss Army knives of the phone world, then Androids (and Blackberry and Windows phones for that matter) are found on key-chains not bought as “the only tool you’ll ever need.” To the kind of people who pick up Androids instead of iPhones, watching a video or surfing webpages designed for 12+” screen on a phone is a bit like using a Swiss Army knife to complete a plumbing project! Sure it can be done, but if you have more appropriate tools (laptop, tablet, etc.), why?