My Friday morning reads:

• Abenomics Takes Off: Can Japan Un-Doom Itself? (Atlantic) see also Japanese bank governor Haruhiko Kuroda makes history with monetary blitz (Telegraph)
• Corzine Blasted in MF Global Autopsy (WSJ)
• Brisk pace of rule making slows at CFTC (Financial Newssee also ‘Don’t Panic – Financial Reform is Coming’ (Economist’s View)
• Golden Moment Wanes for Investors (WSJ)
• The rise of the bitcoin: Virtual gold or cyber-bubble? (Washington Post) see also Bitcoin Purchasers Should Just Keep Their Dollars Instead (The Daily Beast)
• Breaking Free of the Cellphone Carrier Conspiracy (NYT)
• America’s Most (and Least) Religious Metro Areas (Atlantic Cities)
• Apple widens its lead on Samsung in the US (The Loop) see also Apple has to think different about China (Gigaom)
• Why Facebook Home bothers me: It destroys any notion of privacy (Gigaom)
• 13 Things Roger Ebert Said Better Than Anybody Else (BuzzFeed)

What are you reading?


U.S. Economy Adds Just 88,000 Jobs   

Source: WSJ

Easing Jolts Japan’s Markets

Source: WSJ

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 Friday AM Reads”

  1. cowboyinthejungle says:

    The Bitcoin bubble

    Just one of a plethora of recent articles on Bitcoin, and one of a few that calls it for what it is: expectations getting ahead of the fundamentals. One phrase comes to mind when I read the comments of the Bitcoin cultists. “This time is different.”

  2. Mike in Nola says:

    Just heard on Bloomberg that Obama’s definitely selling out the middle class: insisting on more taxes on the wealthy but those have to be accompanied by cuts in Medicare and SS. Clearly can’t ask the rich to suffer alone.

    I wonder what kind of gig Pete Petersen has promised him when he leave office.

  3. hue says:

    Forget me not: in Europe, right to be forgotten advocates argue details online can be out-of-date, misleading and even downright wrong (The Guardian)

    “The internet has a long memory. It can remember things long after everyone else has forgotten them. In some cases, this can lead to a pleasant surprise: long-lost pictures, an old witticism, a fragment of a distant conversation.

    But growing numbers of people are finding that the internet’s long memory can be misleading, malicious or plain wrong. And they are taking the fight to the big repositories of personal data – principally, but not only, Google and Facebook.

    Take Mario Costeja. Google his name and one of the first things you find is that he had financial problems in the 1990s and was forced to sell his house to pay off a debt.

    That was 15 years ago. Costeja argues that in a world where clients, employers and lovers look up people who interest them on Google, the information is misleading and the damage to his reputation as a reliable forensic handwriting expert is wholly unfair.”

    expert: ability to forget our past, on and offline, an essential part of what makes us human (The Guardian)

    “He cites the case of AJ, a woman from California, later identified as Jill Price, whose story came to light about six years ago. Price suffers from hyperthymesia, a neurological condition that means she cannot forget anything that has ever happened in her life. Mayer-Schönberger says that if everything about us is kept on internet databases, the effect, while not as drastic as in Price’s case, is nevertheless similar.

    ” ‘Our brains reconstruct the past based on our present values. Take the diary you wrote 15 years ago, and you see how your values have changed. There is a cognitive dissonance between now and then. The brain reconstructs the memory and deletes certain things. It is how we construct ourselves as human beings, rather than flagellating ourselves about things we’ve done.

    ” ‘But digital memories will only remind us of the failures of our past, so that we have no ability to forget or reconstruct our past. Knowledge is based on forgetting. If we want to abstract things we need to forget the details to be able to see the forest and not the trees. If you have digital memories, you can only see the trees.’ ”

    in America, is ‘right to be forgotten’ the biggest threat to free speech? (npr)

    Irish prez eviscerates Tea Partiers as ignorant wankers (Roger Ebert’s Journal)

  4. wisegrowth says:

    The unemployment rate will go down, but it will hit a limit of 6.9% (on a quarterly basis). This is not dependent on the labor force participation rate. There is an equalizing function.

  5. Mike in Nola says:


    Thanks for that rant from the Irishman. Too bad we don’t have more Americans like him. Our politicians have all been cowed by the power of campaign contributors.

    • hue says:

      Mike in Nola, my college roommate was from Lake Charles. one of his brother shas not missed a Mardi Gras since 1986. the last one I went to was 2006, the year after Katrina, it was a ghost town outside of the Quarter.

  6. Mike in Nola says:

    For those who don’t think we’re in bubble territory.

    There’s no there there.

    • TrainStation says:

      Thanks for the link.

      The Bloomberg article said there is 50 billion barrels of recoverable oil in the Midland area. If the estimate is accurate then the 53 story building will only be the start. Most likely it all depends on how you define “recoverable”.

  7. willid3 says:

    well maybe we have one less captured regulator?

    there is hope maybe?

  8. re: Japan..

    a longer discussion of ‘What is Up’..from an Individual, Kyle Bass, that was, actually calling the Yen Short, before falling by ~a third..

    hint: to His mind, ~250Yen/$ is ‘not out of the Question..’..


    BR: Bass is crushed in his yen bet; a year ago, he was down 60% — THEN it got ugly

  9. RW says:

    A bit more on the solar leasing business. My neighbor worked with one of the larger outfits, Solar City (, and they offered several options beginning with “free” (no charge to the customer but the discount on electricity was not as good as contracts where the customer paid a deposit). They did an energy audit of his home, assessment of roof exposure including a 4-season evaluation using some amped-up variant of google earth (could rotate through seasons and calculate insolation on the house), and this affected the contract as well but he decided against the deal and could not recall the details: his home had a mostly western rather than southern exposure so the savings on electricity would not have been as good, not worth binding his home to a 30-year contract in any case.

  10. RW says:

    I knew the deficit scolds were off-base because the negative impact of austerity on employment could only accelerate economic contraction and I wouldn’t have bought the story line that government debt was a major factor in the Small Depression in any case because the evidence clearly showed private debt was the problem …but I think I still somehow bought the basic idea that there was in fact an imbalance, a build up in level of overall debt including government’s creating a headwind against growth.

    The possibility that, once gain contrary to CW, the US and its citizens might be building assets faster than debt, leveraging up in a word, had simply not occurred to me.

    Hedge Fund America

  11. S Brennan says:

    Let’s see it’s Friday, so, it must be time for the BHO comedy show.

    Always the tough negotiator BHO offers up Cuts to Medicare, Cuts to Social Security to Wall Street, will be enough to appease his paymasters? Having preserved Bush’s tax cut’s for the wealthy, it’s the least he could do…the very least, anymore and there could be riots. Riots, does anybody remember those pesky things?

    On the good news front unemployment dropped to 7.9% while adding only 88,000 jobs, talk about turning water into wine….or was that wine into blood?

    At long last, when will BHO supporters admit the guy is a pathetic joke, a minion on the make for his fortune.