My morning reads:

• Preferred Shares Find Favor Among Banks (WSJ)
• The Intel Opportunity & Andy Grove (Stratechery)
• We have an Inflation Problem: There’s Not Enough of It (NYT)
• The Falling Cost Of Solar Energy Is Surprising Everyone (Business Insider)
• Betaworks is Buying Up All the Key Pieces of the Online-News Ecosystem (Atlantic)
WTF? GOP Census Bill Would Eliminate America’s Economic Indicators (UPDATE) (Huffington Postsee also A new GOP bill would prevent the government from collecting economic data (Wonkblog)
• Austerity: The History of a Pernicious Idea (New Republic) see also Faced With Discredited Research, WSJ Doubles Down On Calls For Austerity (Media Matters)
• 10 Technologies That Are Completely Changing The World (Business Insider)
• ‘Time Crystals’ Could Upend Physicists’ Theory of Time (Wired)
The Section: Knights of Soft Rock (Rolling Stone)

What are you reading?

 

Employment Situation
Chart
Source: Barron’s

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.

30 Responses to “10 Friday AM Reads”

  1. hue says:

    The Comments Paradox: Everybody Hates Comments, Yet They Are More Popular Than Ever (BuzzFeed)

    Old News Worth Repeating: Who Is the Smallest Gov’t Spender Since Eisenhower (Forbes) The comments are very entertaining.

    Mr. GOP Tear Down This Icon: Why the Party has to Get Over Ronald Reagan (WaPo) Can this really be Jhengazi?

  2. cswake says:

    While the census data is nice, it’s not like it never has been misused for nefarious purposes.

    http://usatoday30.usatoday.com/news/nation/2007-03-30-census-role_N.htm

    “The Census Bureau turned over confidential information including names and addresses to help the Justice Department, Secret Service and other agencies identify Japanese-Americans during World War II, according to government documents released today”

    Ironically, the left should be supporting the bill since it’s only a matter of time that census data is used to hunt down arab-americans, if not already. I can only imagine what type of profiles on potential “persons of interest” they could create if the databases between the Census Bureau, Intelligence Agencies, IRS, and Health Records were neatly combined using social security numbers.

    • willid3 says:

      just wait till the ID thieves get involved. then that join will fail to provide any thing reliable.

  3. Petey Wheatstraw says:

    “We have an Inflation Problem: There’s Not Enough of It”

    Is there enough matter to fill a black hole?

  4. VennData says:

    Remember: We can all be Jack Welsh if we are willing to fuck over the bottom 10% every year!

  5. ilsm says:

    Gettysburg, by Stephen W Sears.

    Nearly 150th anniversary of the battle.

  6. WFTA says:

    Crazy living large in the Bayou City.

    Considering that the success rate for suicides jumps from about 3% to about 90% when fire arms are involved (we think,) you would think solid data would be a serious health care concern.

    More from the NRA national convention:
    http://www.houstonchronicle.com/news/houston-texas/houston/article/NRA-hit-bull-s-eye-with-96-law-targeting-research-4484621.php?cmpid=atfpm

  7. Mike in Nola says:

    Orders down 4% and last month revised down to +1.9%. Brings back something someone, maybe BR, said about employment being a lagging indicator.

    Of course, this won’t stop stocks, at least until things get good enough that Bernanke can’t justify QE.

  8. VennData says:

    Regarding the GIP bill to eliminate collecting data on the economy… can we pass the bill in time to reverse today’s number?!​

    I guess if people stop listening to the GIP Media Machine telling you to stop paying attention to the other media sources, then this is the best way to handle it.

    Hey GIP voter? Are you seeing a pattern here? About facts, science, data, information?

  9. Concerned Neighbour says:

    I’m reading with much amusement all these pundit quotes today about how today’s “fantastic” employment number gives confidence to a market that had become concerned we were entering a slowdown. Tell me pundits, was that concern manifested by the new all time high yesterday, or the day before? I couldn’t tell.

    I am so very relieved that central banks are aware of the risks to continued and indefinite pumping, but that as of now, they see no cause for concern. No signs of a massive bubble here. No siree bob.

  10. parisblues says:

    It’s nice to see the cost of solar panels dropping. Now for the bad news:
    http://www.businessinsider.com/the-energy-of-the-future-coal-2012-10

  11. Arequipa01 says:

    Re Census Bill-

    Cutting off access to ‘reliable’ data/information is a fundamental task for a totalitarian government. Also, it reminds me of the Argentine govt’s attempt to blot out the sun with their fingertip.

    “due to the growing role of rent at the expense of profit, market economy will have to be more and more sustained by strong State measures which I claim will demand some form of authoritarian state…”

    Slavoj Zizek

  12. DeDude says:

    Onother sad case demonstrating that someone at the CATO institute need to take “science 101” for high school students. They state: “Since the OHIE shows that Medicaid makes no difference”.

    http://www.cato.org/blog/question-medicaid-deniers

    The lack of showing statistical significance in correlation, is not in any way shape or form a proff that there is no correlation. The data showed a 17% reduction in diabetes diagnosis but the 95% confidence intervals were from an 87% decrease to a 50% increase in diabetes. This simply mean that the study was underpowered to answer the question of whether poor people being denied or accepted into Medicaid makes a difference in their very short term health outcomes (such as diagnosis of diabetes). Similarly with all the other parameters – lack of proven effects in an underpowered study is not the same as proving lack of effects.

    The long term outcomes of whether people with diabetes do or do not benefit from health insurance has been answered many times over. If you have diabetes and no health insurance your hemoglobin A1C is higher – and higher A1C is clearly connected with higher risk of long-term complications like blindness, kidney failure and cardiovascular complications. There are no “open questions” of whether or not Medicaid insurance gives you a better health outcome than not having insurance in the long run.

  13. RW says:

    No: Less Consumption Does Not Cause More Investment

    …despite decades of debunking, this misconception remains ubiquitous. …[it confuses and confutes] a backward-looking, historical, accounting statement with a forward-looking, causal, predictive statement.

  14. rp says:

    Nice comment on Intel. Can someone please send it to them? Note, they have been competing on power for almost a decade. It’s working well but only in their traditional markets. Maybe they can push Haswell into a phone and get people to drop their PCs? Households have 1 or 2 PCs but more phones. Just make the phone the PC.

  15. bear_in_mind says:

    As for the GOP wanting to kill the Census, if it isn’t counted or measured, it doesn’t exist…. right? Just like geological time, the solar system revolving around the Sun, the Earth being round, the…

  16. bear_in_mind says:

    A thought-provoking read:

    Guys Like This Could Kill Google Glass Before It Ever Gets Off the Ground
    http://www.wired.com/business/2013/05/inherent-dorkiness-of-google-glass/

  17. decius says:

    So we force people under penalty of law to answer questions about the configuration of their house and the kind of Internet access they buy. Even the supporters of this admit that political pressure to do it comes from big businesses who utilize the statistics for marketing purposes (read the wonkblog link). When someone suggests that we collect the same data through a voluntary process instead, they are hounded for promoting ignorance by political partisans.

    This is why we can’t have nice things.

    Imagine that the government searched the content of your house with law enforcement agents, every five years. Any evidence of criminal activity would be prosecuted. At the same time, their agents also collected statistics about the kinds of products you buy, how many people live there, what language they spoke, etc… These statistics went into a database that was used for lots of great purposes. Then someone came along and proposed the Fourth Amendment. What side would you take on that issue?

    • DeDude says:

      @decius,

      We can imagine all kind of things but if we deal with reality then the issue is that GOP is proposing to do away with almost all collection of data except a once a decade head count. I have no problem with going through the list of questions and eliminating some that are intrusive and of questionable value to society as a whole – but that is not what the proposal is about.

    • willid3 says:

      imagine not knowing if you were in a recession or a depression. sounds sort of of like N. Korea. as I am sure the people there have no idea how bad off they are since they dont know how much better off others are.

  18. VennData says:

    Glencore Xstrata CEO: Expect Big Layoffs

    “…the South African left no doubt that the new company will retain all of the old Glencore’s hard-charging DNA. He explained why he sees no difference between politically volatile nations that might seize assets and stable democracies that raise taxes. He defended the company’s Darwinian culture, in which he said underlings “attack” their superiors if they perceive them to be slacking off…”

    http://online.wsj.com/article/SB10001424127887324766604578458910329071572.html

    When the Right Wing Media are scraping for talking points as America recovers, they are left with talking points about how Obama’s Socialism causes “uncertainty.” While this site was one of the first to laugh at this nonsense, you wonder what kinds of uncertainty goes into the mind of potential employees when they read quotes from a psychotic like Glasenberg.

  19. WFTA says:

    A long, but extremely thoughtful article about race in America and in American politics.
    Socialism ain’t Obama’s problem. As a white southerner, I can vouch for that.
    http://www.theatlantic.com/magazine/archive/2012/09/fear-of-a-black-president/309064/

  20. rd says:

    Looking forward to getting our food-supply out-sourced to China to reduce our weekly grocery bills:

    http://www.reuters.com/article/2013/05/03/us-china-foodsafety-ratmeat-idUSBRE94207J20130503