My afternoon train reads:

• UH OH Dr. Doom: Buy stocks while you still can (CNNMoney)
• Deflation, not inflation, could bedevil markets (USA Today) see also Top Investors Will Feel Heat of New Epoch (Bloomberg)
Bloomberg 2-fer: Things are looking up:
…..-American Auto Industry Has Best Performance in 20 Years (Bloomberg)
…..-Americans Most Upbeat in Five Years as Firings Slow (Bloomberg)
Contra: Is Dr Copper, telling us the party’s over? (FT Alphaville)
• Blue Chip Stocks Fetch Ridiculous Valuations, But Don’t Sell Just Because It’s May (Forbes) see also The Myth of the ‘Spring Swoon’ (WSJ)
• We should stop expecting monetary policy alone to save the US economy (Quartz)
• Gold Bull Run Seen Over as Bear Drop Frays Faithful (Bloomberg)
• Banking groups split on ‘too big to fail’ (Politico) see also This Is How Wall Street Is Fighting the Brown-Vitter Bill (NY Magazine)
• Polls Plummet For Senators Who Voted No On Gun Background Checks (Talking Points Memo)
• 10 Classic Failed Tech Predictions (Above the Market)

What are you reading?


Gold Rally Stopped Dead In its Tracks
Source: Bespoke

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.

10 Responses to “10 Thursday PM Reads”

  1. b_thunder says:

    The domestic auto-makers may have had the best year in the last 20, but they’re about to run into a brick wall of Abenomics:
    and even if Fed manages to devalue the USD, IMHO that will only lead to the “race to the bottom” in terms of prices and profits. He, who devalues first, wins.

  2. RW says:

    The echo chamber as exemplified by economic ignoramuses and hacks like Megan McArdle apparently wants to argue that lack of evidence that Medicaid expansion is a slam-dunk success really is evidence that it is an abject failure those who actually do know something about Medicare/medicaid as well as statistics, evidence and logic, do their level best to straighten them (and everyone else) out; ecce Sisyphus!

    Oregon and Medicaid and Evidence and CHILL, PEOPLE!

    Let’s review. The good: Medicaid improved rates of diagnosis of depression, increased the use of preventive services, and improved the financial outlook for enrollees. The bad: It did not significantly affect the A1C levels of people with diabetes or levels of hypertension or cholesterol.

    This has led many to declare (and we’re not linking to them) that the ACA is now a failed promise, that Medicaid is bad, and that anyone who disagrees is a ‘Medicaid denier’. How many people saying that are ready to give up insurance for themselves or their family? If they are arguing that Medicaid needs to be reformed in some way, we’re open to that. If they’re arguing that insurance coverage shouldn’t be accessible to poor Americans in any form, we don’t agree. Medicaid may not be perfect, but we don’t think being uninsured is better. This new study supports this view, though certainly not as strongly as it might have.

  3. VennData says:

    Rove: The GOP Sets Its Sights on the Senate in 2014

    Rove better set his sites on the rear ends of his Democratic opponents after he sees the above polling numbers on GOP senators who voted No on background checks. The GOP is toast.

    When are these GOP numskulls going to figure out how out of touch they are?

  4. carchamp1 says:

    As to Dr. Doom, “gravity” does not effect the economy or financial markets. Why are people still listening to him?

  5. huxrules says:

    My favorite failed tech prediction is this one about the ipod on its unveiling by Slashdot editor “CMDRTaco”:

    “No wireless. Less space than a nomad. Lame.”

    • Richard W. Kline says:

      The initial response to the iPad was far more negative and pervasive. ‘What does it do?” ‘No niche; so no market.’ ‘No keyboard, not a ‘phone,’ nobody making media for it.’ ‘Too big to carry around, too small for interactive viewing.’ ‘This a _game_ platform?? NOT!!’

      Now the talk is the pad will obsolete the PC entirely. The platform _created_ a niche, way in front of meaningful competition, and has an app base so large that frantic attempts to catch up are smothered. Turns out to be easily portable, and prefered by many to a laptop for that purpose. A lot of folks never ever do games, so why do they need an expensive platform for what they won’t play? They don’t, they’ve concluded, happily buying a second and third pad.

      The response of the tech commentariat to the iPad’s launch will become the uranium standard for getting it wrong, and become a definitive case studied in marketing schools in my view. The iPad ‘didn’t look like anything before’ so the not-so-smarties all said “Doesn’t look like anything.” Not much value added there, I’d say . . . .

    • Richard W. Kline says:

      As a point of reference, I don’t own an iPad, don’t particularly like them, and don’t own a flake of APPL. I do own, and love, other Apple products, and have for three decades though. And I do care about getting it right more than getting there first.

  6. Bob is still unemployed   says:

    [Clifford] Stoll didn’t stop there: “Try reading a book on disc.

    Mr. Stoll was one of the a one hit wonders in the world of prognastication. Just as Ms. Garzarelli “predicted” the 1987 meltdown of the markets, but (imho) has been unable to proffer a worthwhile “prediction” since then, Mr. Stoll is famously known for his attempts (and book deal) in tracking down a hacker.

    Sometimes I think we become too enamored with technical people (whether financial or technology technical people), and begin to sit at their feet anxiously waiting upon their words of wisdom.

    Funny thing about technical people, they are most excellent at analyzing current events and conditions, but mostly are rather poor at extrapolating the current to the future.

  7. chartist says:

    Well here’s the thing. The biggest group of Americans, the boomers, are set to retire. Someone has to pay for those bennies. The world is awash in debt and there’s only one way out and that’s to inflate… ain’t worth fighting, imo.

  8. Manonash says:

    In response to “what are you reading,”


    Check out this really depressing article on the foreclosure settlement. Turns out the settlement allows up to 5% of continuing foreclosures to be fraudulent. Plus…..guess who decides what’s fraudulent? The banks themselves, of course!!!!