My morning reads:

• A Bear Call on Bullish Analysts (WSJ)
• Dow Industrials show declining tax burden as a share of profits (Washington Post)
• Buffett’s Career in Less Than 1000 Words (The Aleph Blog) see also Berkshire to Pay Nothing to Be Among Top Goldman Sachs Holders (Bloomberg)
• Most foreign investment in BRICs isn’t foreign at all—it’s tycoons using tax havens (Quartz)
• European Regulators to Charge Banks Over Derivatives (WSJ)
• More choices lead to bigger gambles (Futurity)
• Petition seeks to outfit members of House, Senate with NASCAR-style patches (Yahoo News)
• Why Fox News is less to blame for polarised politics than you think (The Economist)
• Apple’s broken promise: why doesn’t iCloud ‘just work’? (The Verge)
How the Wild West REALLY looked: Gorgeous sepia-tinted pictures show the landscape as it was charted for the very first time (Daily Mail)

What are you reading?
Post-financial crisis recoveries

Source: Chart of the Day

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 “Wednesday AM Reads”

  1. rd says:

    Apparently, Koch may be buying fake wine so he can spend lots of money suing people. I guess everybody needs a hobby.

  2. VennData says:

    Banks Looking at $100 Billion Legal Tab

    A fate worse than prison certainly. Dealing with lawyers.

  3. hue says:

    beam it down Scotty: the entirely serious plan to collect solar energy by spaceship and beam it back to Earth with lasers

    before Hollywood, Denzel Washington was a tenacious Fordham baller

  4. RW says:

    Declining Wealth Brings a Rising Retirement Risk (ht MT)

    In the non-financialized, main-street world, rising wealth inequality is a poverty tsunami; the switch to defined benefit plans (and other laws/regulations favoring capital) being a constituent of the original quake as well as the accelerating undertow in the US.

    The rising wave crest (just to continue the metaphor) is captured in part by Reuters Counterparties Welcome to Adulthood series; e.g. “The latest subprime boom: Student loans,” “Almost half of college grads are underemployed — and likely to stay that way,” etc.

  5. Anonymous Jones says:

    A phrase in the Economist article bothered me, especially since I’ve been seeing the phrase more often lately: “ever-more liberal progressives.”

    Is there proof of this concept? Anywhere? Any kind? Is it just my imagination, or haven’t all the studies shown that the Overton Window has been moving to the right for over three decades? Has the Democratic Party in the US (and the Labor Party in the UK for that matter) been secretly moving left even when it seems obvious that they’ve been moving right (well right)?

    The insistence of “journalists” to try to seem fairuntbalanist by saying that it’s just as much the progressives’ fault seems to have no end. Where are the MSM pundits who are screaming for socialism like Upton Sinclair and Eugene Debs once did? Do these people exist? How do I not know a single one of them but I’ve heard of Limbaugh and Hannity and Beck?

    And then something like “ever-more liberal progressives” is just casually tossed out there, unchallenged, even though all credible proof is to the contrary. It’s just dispiriting.

    • pollyanna says:

      That particular phrase is Lexington artlessly revealing his hamhandedness in trying to keep a balanced scale when weighing an argument. Your apropos questioning of its meaning shows that he cannot resist putting a thumb on one side.

      As for his basic point, it too lacks the rigor needed to demonstrate his good judgment.

      The claim he makes–that Fox’s audience is too small to effectively be the cause of the polarization that affects modern American politics–completely ignores how the messages crafted for Fox’s news and talk programs are retransmitted and amplified through local tv channels, newspaper columns, radio shows, and blogs, with each retransmission reaching a wider and wider audience.

      At the end of all of this retransmission (which is what’s appropriately known as the Fox echo chamber), we find a portion of the populace that does nothing more than repeat the shibboleths of Fox personalities, which is precisely what leads to today’s polarization.

  6. VennData says:

    Texas legislature allows craft breweries to sell there beer.

    Pro-business. Pro-small business. Always at the cutting edge those Texans. Yup.

    No wonder they need to have no taxes, why else would anyone live there?

  7. Global Eyes says:

    I’m reading a manual about MakerBot’s new 3D printer.