My morning reads:

• Sell and Not-Hold (Businessweek)
• Author of the spectacularly wrong ‘Dow 36,000′ has new thoughts on the stock market (The Washington Post)
Shiller: Yes, We’re Confident, but Who Knows Why (NYT)
• Our Chat With Jim O’Neill ‘BRIC’ Builder (WSJ)
• The jobs report, in seven charts (Wonkblog) see also The Rise of Part-Time Work (Economix)
• What’s Fueling the Housing Boom in Vegas? (CNBC)
• Cubans evade censorship by exchanging computer memory sticks, blogger says (McClatchy)
• 12 Cognitive Biases That Endanger Investors (Minyanville)
• The 19 Best Investment Blogs You Can Learn From (The College Investor)
• The future of Reddit (The Daily Dot)

What are you reading?


Employment Report: A terrible chart that gets a little better each month

Source: Calculated Risk

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.

12 Responses to “10 Monday Reads”

  1. PeterR says:

    Is there possibly good news hidden in the chart here, in the sense that the job market has been shaken out thoroughly (incl. NAFTA etc. globalization issues settled out)?

    The 2001 line in brown looked bad compared to the previous lines, but that worked out OK.

    May be wishful thinking?

    Also, has anyone “backed out” or controlled for the effect of the Fed and various forms of quantitative easing through the decades? One is guessing that this chart would be worse?

  2. rd says:

    Re: the employment chart

    What has changed since 1981?

    The 1981 and earlier charts consistently all had very sharp employment recoveries. The employment gains after the three recessions since 1981 have slopes that are about 1/3 to 1/2 of the rates in 1981 and earlier. The job losses have also gotten progressively greater from 1990 to 2007.

    It appears that we have structural changes to the economy since 1981 that are leading to employment depressions instead of recessions and recoveries. How has our economy been restructured over the past 30 years to make it difficult to regain and increase jobs? It clearly isn’t caused by increasing regulation and taxes since we have had a steady diet of federal deregulation and tax rate reduction over the past 30 years. so what is it? What are the specific actions that could be taken to reverse this trend? This is an area where economists could actually be useful but I haven’t seen much of value out of them on this – certainly nothing resembling a consensus.

  3. gordo365 says:

    I look at the employment chart and wonder “How on earth did republicans not take back the white house?”

  4. MidlifeNocrisis says:

    “Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.”

    Sorry…. couldn’t resist.

  5. S Brennan says:

    This story is incredible:

    1] Wells Fargo screws up it’s paperwork, instead of correcting the mistake, they double down and take action to repossess the adjacent unit.

    2] The court agrees with Wells Fargo that repossessing the mistaken unit is the “right thing to do”.

    3] The man dies in the courtroom pleading his case…and Wells Fargo blames the death on…the guy for arguing with them!

    Unbelievable? Nope, that’s the American way circa 2012… Jim Crow..but instead of a color line, we have an economic line, a set of laws for the lower 99%.

  6. laBear says:

    Investigating Obama’s Claim That Sequester Cuts Will Reduce Vaccinations For Kids


    another ‘sky is falling’ warning from obama refuted….

  7. willid3 says:

    RD, have heard that some point to the almost continuous trade deficits that we run as being part of the reason for the jobs depressions that seems to happen with every down turn. and thats because we import so much more that when we recover we dont get as big of jobs bounce any more as we used. now it could also be that offshoring (aka globalization0 has had a big impact too, as we seem to have exported the entry level jobs, and that has impacted the recent college graduates. along with their large college loans. so instead of the country investing in our future, we have outsourced that so student have to do it them selves. wonder how that will work out.

  8. willid3 says:

    biggest threat to the EU? a lost generation?

    isn;t this the same one we have too?

    what we think we know about personal finance….probably isn’t right

  9. VennData says:

    U.S. Demands That China End Hacking and Set Cyber Rules

    While we artfully cull information from them, they do soft-terror hammer whacks at our media sites, cost consciously secured corporate sites, and sundry high profile targets assured to make into the “news.”

    The analogy to blasting a crude exploding rocket into satellite orbit is complete.

    And we ask them to come to the table to negotiate restrictions on “cyber warfare” like the Spanish asking the Aztecs to restrict musket velocities.

    Clever these Chinese.