My morning reads:

• EVERYONE Should Be Thrilled By The Gold Crash (Business Insider) see also Gold Extends Bear-Market Plunge Below $1,400 on U.S. Recovery (Bloomberg)
• JC’s wrap up Market Technician Association Symposium 2013 (All Star Charts)
• Luck, Skill, and Investing (Morningstar) see also What you don’t know can cost you (MarketWatch)
• Microsoft, Intel Brave a Mobile World (WSJ)
• As Wall St. Soars in Tough Era, Company Size Is a Big Factor (NYT) see also Macroeconomic Overview Talk (Brad DeLong)
• News is bad for you – and giving up reading it will make you happier (theguardian)
• The Economic Case Against Tax Deductions (Businessweek) see also A Tax System Stacked Against the 99 Percent (NYT)
• If Companies Are People, why not them as if they were natural persons, in accordance with their newly discovered rights of free speech? (NYT)
• On Teens and iPhones. (The Axx) see also 48% of U.S. teens own an iPhone. 62% plan to buy one. (Fortune)
• Google Introduces Dead Man’s Switch For Your Accounts (Consumerist)

What are you reading?


Japan Triggers a Shift to Emerging Markets

Source: WSJ

Category: Markets

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.

18 Responses to “10 Monday AM Reads”

  1. hue says:

    since news is bad for us, more hair of the dog

    Feeding Uncle Leviathan: A Brief, Opionated History of Income Taxes in America (The Awl)

    5 Myths About Taxes (WaPo)
    Given the disdain for the 47 percent, it’s ironic that one reason poorer Americans pay fewer taxes is that Republicans added tax credits for them in order to get Democratic votes for overall tax cuts of 2001 and 2003.

    Why Corporate Income Tax Reforms On Road to Nowhere (WaPo)
    Companies aren’t required to disclose, not even in 10-Ks.

  2. Tim says:

    “News is bad for you – and giving up reading it will make you happier” The Guardian

    Well that’s it for me. Bye everyone. Enjoyed reading your posts BR.

  3. rd says:

    One small economic anecdotal datapoint.

    My son works for a company that makes small to mid-size iron parts (yes, there still is manufacturing in the US). Their bottleneck point is the machine shop. They slowed down foundry operations over the past couple of weeks because the machine shop couldn’t process the parts as fast as the foundry could make them. They did not want to hire another machine shop operator to increase their overall production rate as they were uncertain about demand moving forward. It is a company with a stable labor force that prides itself on not having a lot of layoffs.

    • willid3 says:

      well..its only a myth that we have lost manufacturing, the real point is that while we are still among the most prolific manufacturing nations, we just dont have the number of employees in manufacturing that we did. just to give an example. in the 1960s GM produced fewer cars than today, with a lot more peoplee (workforce then was about 350,000, today their workforce is less 100,000), what has happened is that manufacturing has followed agriculture in having fewer jobs, while producing more. and that was done with automation. not the new problem is that we dont really have new sectors of the economy to take up for that loss in employment, and we seem to believe that we can eliminate jobs and not pay a price for it. and even stranger still, we still gauge the economy based on manufacturing output, not on the number of jobs created. and some even miss the important part, that one sectors jobs is what what drives another. cause some one is always your customer and they dont always work in your sector

  4. James Cameron says:

    “The managers who did well last year were those who focused on fundamental primary equity research,” said Carter Furr, a portfolio manager at Signature, an independent family office in Norfolk, Va., with $2.8 billion in assets.

    “The guys who were paying attention to the macro picture, got caught up in the headlines and fear-mongering, lost sight of the fact we were having a stealth recovery in the United States,” he said.

    Hedge Fund Titans’ Pay Stretching to 10 Figures

  5. willid3 says:

    Congress can act when in its best interests, even now

    after all we wouldnt want any one to see what they do right?

  6. Willy2 says:

    “Gold plunges as optimism grows for a US recovery”. (or something like this)

    What a load of crap ! AFTER the year 2000 REAL interest rates went negative and as a result gold went up in price. Now REAL interest rates are rising again and then gold WILL get hit. No matter how much the FED “prints”.

  7. willid3 says:

    hm..Congress helped eliminate the support for pensions.

    wonder who wanted that? must be wall street and business, they never really liked having benefits unless it was the executives (care to guess which pension plans are really in trouble, and which they will rescue even if they are? hint its not the one for most employees)

  8. slowkarma says:

    A good crop this morning. I suspect the people hurt worst in the gold plunge are those who scraped together the money to buy ten gold coins so they’d have something when society collapsed and the world was taken over by motorcycle gangs. (I wonder why the dystopian world always gets taken over by losers who can’t make it when things are easy? I suspect dystopia will be run by hedge fund managers and lieutenant colonels — but that’s another argument.) As regards two of the entries, “News is bad for you” and “A tax system stacked against the 99%” from the NYT, I have this rule of thumb for people who insist on reading newspapers or watching TV news: Anytime anyone starts talking about “fair,” he’s trying to sell you something you don’t need, and he’s most likely lying on the major points.

    • DiggidyDan says:

      LOL. . . I would image Rednecks would take over the world. . . All that farmin’ fishin, and huntin’ with a lot of guns and land. That would truly be distopia. Hahaha. Thanks for the mental picture of TEOTWAWKI Redneckia. GET A BRAIN MORANS! Go USA!

  9. nebyarg says:

    Barry, I’ve been following silver down and yes, it is a trade. However, I believe unlike Soros, that the reasons for owning physical are as valid today as last Thursday before the first tumble.
    It is Monday after Friday’s collapse of gold and silver when prices lost about 5-6% each. Today, the prices have tumbled: As I write, Gold is down 8.68% to $1368 per oz and Silver is down 10.30% to $23.49 per oz which are probably the futures prices.
    But here’s the catch, to buy silver coins the prices have actually gone up higher than last Friday closing prices. This means the commissions are exorbitant. Silver is now offered at $30.84 and $27.05 at two different dealers. Even $27 is a huge 15% commission.
    I think many physical owners haven’t cashed in any holdings and the dealers don’t have much inventory so the prices are still very high.
    What do you all think? Thanks.
    What do you think? b

  10. nicejob says:

    Something for reading on the way home: Was cocaine behind the banking crisis?

  11. wisegrowth says:

    Recession will become an important topic as time goes on… Some of us are working on forecasting the next recession… Here is a little about it…

  12. AHodge says:

    and something nonsensical for europe from a Merkel advisor
    He calls for wealth taxes to pay for bank bailouts. Der Spiegal
    But not for germany. only on the european debtor countries

    Since its german or richer country banks mostly getting their bad loans made good
    this strikes me as a completely self serving non starter,
    in spite of cyprus looking like a variant?
    im not against some pan european wealth taxes as a least worse tax, including cyclically
    but there is i believe, no pan european way to raise revenues
    only borrowing eurobonds or member state contributions
    also i will guess the worlds biggest potential wealth tax evaders are Europe,
    with most of it Offshore.
    your other article today highlights this for US

  13. willid3 says:

    and now for some thing different

    non stop shopping!