My afternoon train reading:

• Gold was trounced in massive selloffs in 1915-20, 1941, 1947, 1951-66, 1974-76 1981, 1983-85, 1987-2000 and 2008. (MarketWatch)
• Goldman’s big think about the commodity sell-off (FT Alphaville)
• How America Can Beat Deflation, NYC Style (The Reformed Broker)
• The Central Bank Dog Ate My Homework (Investing Caffeine)
• A few comments on Housing Starts (Calculated Risk)
• Senator Pushes for Investigation of ‘False Statements’ by Dark Money Groups (propublica) see also Financial crisis caused by too many bankers taking cocaine, says former drugs tsar (Telegraph)
• Why Thatcher Wasn’t Her Era’s Most Transformative Leader (Echoes)
• Windows: It’s over (ZDNet)
• Summer Ice Melt In Antarctica Is At The Highest Point In 1,000 Years, Researchers Say (HuffPo)
• The Truth About Google Fiber (PC Mag)

What are you reading?

 

The Surprising Breakdown of profits in the PC Space

Source: Asymco

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.

11 Responses to “10 Tuesday PM Reads”

  1. hue says:

    Cocaine is so 1980s. When I was in San Francisco back during the Internet bubble, my financial friends were all stoners, keeps you calm under stress.

    Modafinil’s Moment: The Real Limitless Drug is Wall Street’s New Habit? (NY Mag)

    Boston Bombings: the Mourning After and the Axis of Weevils (or Weasels) (Esquire)

  2. CD Sorensen says:

    Every time people talk about gold as a historic store of value, it makes me wonder if there was saltbuggery back in the day. “Oy, Gaius, this new government program of using metals in place of salt, its a government program designed to take purchasing power from us!”

  3. VennData says:

    Interesting long term analysis on gold by Marketwatch.

    We’ve noticed that gold sells off when Democrats have a plurality or outright near majority.

    – Awryhart & Wrongoff.

    Reply to out hashtag #eCONjobs

  4. 873450 says:

    To read after Tuesday PM Read – How America Can Beat Deflation, NYC Style (The Reformed Broker)

    NO INCOME CHECK LOANS GOING BYE BYE

    http://campaign.r20.constantcontact.com/render?llr=4jjj6wbab&v=001JFE3cRrg5TKj2AhyvKbmtfuqSaJdtGg2IkPMQYL_q_8oMmYHypWYBZWUzujADBt-HapWRigjOunFzJGLGtu_I42nlMzwYvZBxkZcvV3Pn0c%3D

    https://myhomebanker.com/pages/no-income-check

    “There were two banks left that financed “no income check loans”. One announced this morning that they are canceling the program effective April 26th. It’s unfortunate that the secondary market for these loan products isn’t active. We have been financing properties with folks that had over 35% equity, great credit scores, and just had complicated or just very large tax returns. The one lender left that will be offering reduced documentation loans will probably cancel this program shortly as well. If you or someone you know is interested in this product, please reach out to me ASAP at …”

    WTF! Investors are no longer interested in loans to borrowers who can’t prove wherewithal to make payments? Does that mean they won’t buy 105% LTV mortgage debt products anymore too?

  5. formerlawyer says:

    Not sure this has been seen, Pro-Austerity study was based on cherry-picked data and a poorly structured Excel Spreadsheet (oh and not refereed properly).
    http://www.huffingtonpost.com/2013/04/16/reinhart-rogoff-austerity-research-errors_n_3094015.html
    http://www.nextnewdeal.net/rortybomb/researchers-finally-replicated-reinhart-rogoff-and-there-are-serious-problems?ncid=edlinkusaolp00000008

    Original Study: Carmen M. Reinhart Kenneth S. Rogoff, “Growth In A Time Of Debt”,National Bureau Of Economic Research Working Paper #15639 (PDF Format)
    http://www.nber.org/papers/w15639.pdf

  6. bear_in_mind says:

    Forget the “Central Bank Dog Ate My Homework”… here’s something you’ll really enjoy:

    Shelter Me
    Episode #102H: “Let’s Go Home”
    KQED Plus
    This episode features stories about shelter pets that went from rescued to rescuer. The first story is about our hero firefighters who use shelter dogs for search-and-rescue. These teams have been to the World Trade Center and helped look for survivors in the aftermath of Hurricane Katrina, Rita, Superstorm Sandy and the Joplin tornadoes. When a disaster strikes and people are buried, these search dogs will be the first on the scene to save you. We follow individuals who have adopted shelter dogs and are now volunteering at a hospital. These once-forgotten dogs are helping people heal by bringing comfort to patients and their families, not to mention joy to doctors and nurses. We also show a dramatic rescue of homeless puppies, an innovative spay/neuter clinic and a family adopting a beautiful cat at an animal shelter.

    SERIES WEBSITE: http://shelterme.tv/
    UPCOMING AIRINGS: http://www.kqed.org/tv/programs/index.jsp?pgmid=20694

  7. Jim67545 says:

    CalculatedRisk states that single family home starts is a leading indicator of upcoming strength in the economy. I question that, at least in this go round. The delayed upswing belies this assertion.

    @ 873450, your final comment about 105% LTV loans has nothing to do with undocumented income loans. Many worthy applicants, for various reasons such as tax evasion or uneven or undependable income (think tour golf professional) who have exceptional compensating factors (great credit, 35+% equity, ample savings, etc.) should be able to get a mortgage – somewhere. Lending is a matter of assessing the amount of overall risk and deciding if it is acceptable. That does not mean picking through the various elements and, if one weak area is found, automatically declining the loan.

    • 873450 says:

      “… final comment about 105% LTV loans has nothing to do with undocumented income loans.”

      Agree. No income check is not 105% LTV and no inference was intended to imply otherwise. Both, separately and together, became prevalent gimmicks (along with 0% teaser rate, balloon ARMs, interest only, negative amortizing, etc.) deployed to lure tens of millions of borrowers into mortgage loans they could never afford. All these loan provisions can be appropriate for a tiny sliver (probably less than 1%) of the population. Mass marketed, they destroyed the mass market.

      “Many worthy applicants, for various reasons such as tax evasion or uneven or undependable income (think tour golf professional) who have exceptional compensating factors (great credit, 35+% equity, ample savings, etc.) should be able to get a mortgage – somewhere.”

      As in the past, extremely wealthy and/or exceptionally compensated borrowers (not sure about tax evaders) can get mortgages. It is the disappearing secondary market for these loans mortgage brokers are crying about. Burned investors aren’t buying debt securities comprised from bundles of no-income check loans. Frustrated bankers can’t dump the nonpayment risk onto clients and customers.

  8. nofoulsontheplayground says:

    “Thatcher and the Words Almost No One Mentions: North Sea Oil”

    http://www.opendemocracy.net/ourkingdom/anthony-barnett/thatcher-and-words-no-one-mentions-north-sea-oil

    I was looking for some commentary on the contribution North Sea Oil made to the Thatcher legacy, and this article was a good one.