My morning reads:

• Is stocks’ recent run start of second leg of bull? (USAToday)
• Of course “hedge funds” lose money (Noahpinion)
• Using Geography to Predict Stock Market Returns (MoneyBeat)
• What Does Japan Mean For The Rest of the World? (Tim Duy’s Fed Watch) see also A new type of growth is emerging (FT Alphaville)
• The Facebook Flop (Stratechery)
• Why have so few bankers gone to jail? (Economist) see also Credit-rating agencies poised to avoid overhaul (Washington Post)
• Navy Catches the Drone Bug (WSJ)
• Here’s The Real Reason People Bash Bernanke And Keynes When They’re On Stage At Conferences (Business Insider) see also In Praise of Econowonkery (NYT)
• The Tesla Model S Is The Best Car We’ve Ever Seen (CONSUMER REPORTS)
• Meet Marc Maron: the Comedic Podcast Giant on His New IFC Show & More (Daily Beast)

What are you reading?


Junk Yields Less Than Treasuries Five Years Ago High Yield vs 10 Year
Source: Bespoke

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.

8 Responses to “10 Tuesday AM Reads”

  1. RW says:

    Repeat, the problem is not the public debt, it is private debt and bonehead fiscal policy the net result of which is the true toxic legacy to our children and grandchildren: no jobs w/ a living wage amid the debris of a decaying physical and social landscape incapable of supporting improved economic productivity.

    Civil Engineers Raise U.S. Infrastructure Grade to D+

    WASHINGTON, DC, March 20, 2013 (ENS) – Over the past four years, the state of America’s infrastructure has improved from a grade of D to D+ but a spending shortfall of $1.6 trillion is anticipated by 2020, the American Society of Civil Engineers warns in its new report card.

    NB: Don’t bother complaining to your Senator or Congress person unless you’re a member of the club in which case you won’t have much reason to complain (Catch 22) …unless your filght to St Barts or Aspen is delayed of course.

    • willid3 says:

      and add this to the high way construction. there are 5 phases to high way construction as practiced in most states in the US

      PHASE I: The Division of Traffic Cones (motto: ”Over Our Dead Bodies”) sets out the hundreds of thousands of cones that form the heart of any highway project. Often, in fact, they ARE the project. What happens is, a crew will strew cones all over a stretch of highway the length of Tennessee, and this effort will use up the entire budget for that particular project, leaving the highway department with no financially responsible choice but to abandon it and move on to the next project in the Master Highway Construction Plan, which was originally developed during World War II by Nazi undercover agents seeking to bring America to its knees.

      If there is any money left over, the project moves to:

      PHASE II: Large, angry men come with jackhammers and do not leave until every square inch of usable road surface has been smashed into pieces no larger than a standard Chiclet.

      PHASE III: Nothing happens in Phase III, which typically lasts six years.

      PHASE IV: Workers from the Division of Great Big Machines That Never Actually Move litter the construction site with huge, powerful-looking pieces of construction equipment, many of which do not have engines. Eventually these are worn away by erosion.

      PHASE V: The project is actually completed, and a giant talking cucumber from Mars dances the hula.

      Read more here:

      some states actually take longer to complete any project (the connector roads for the major toll roads in Oklahoma were under construction for over a decade. not sure if they still aren’t. and that was in the state capitol). the only time i know of that road construction was actually done very quickly was after an earthquake in LA that collapsed at least one major east west freeway. they had that rebuilt and in service in less than a year. and it wasn’t a small road it was a 10 lane divided road

  2. rd says:

    One reason that bankers haven’t gone to jail is because the US Justice Department doesn’t bother to do discovery as they assume that prosecution will be hard and unsuccessful. However, grabbing all of the e-mail records of a newspaper is clearly warranted as people talking to journalists must have committed a crime.

    One thought I had driving in to work this morning listening to the discussion about the IRS focusing on Tea Party organizations: part of the explanation appeared to be that the Citizens United case meant that more entities are viewed as persons with free speech.

    Many of the companies are agreeing that they did do some illegal things, but you can’t jail a corporation, so they pay out some shareholders’ profits as a fine and off they go to break more laws. So now the solution becomes simple – simply allocate the jail time that the corporation would have done if it were a person among the officers of the company and let each of them serve part fo the sentence – a company with 12 officers and a one year sentence could have each of the officers spend one month in the pokey. I think the incidence of problems would drop dramatically.

    • willid3 says:

      why not include the board of directors and others? and any executives who were in ‘charge’ of that area should definitely be part of this

  3. PeterR says:

    SPX Bollinger Band (409,2.2) triple top, or SPX 1700 here we come?

    New first chart at link above.

  4. willid3 says:

    hm. it seems that this year we have lost high tech jobs, but industry seems to think they need more workers from over seas to replace the US workers. not sure why they think they need them since they have been cutting them

  5. Tim says:

    Re: Bankster reform (Economist). First thing we need to do is (1) reinstate the Glass Steagal Act (separate commercial from investment banking), (2) rescind the Commodities Futures Modernization Act (unregulated derivatives creation and trading), and (3) tighten regulation, oversight and discipline of of the Credit Rating Agencies, (4)…..

  6. Giovanni says:

    My nomination for WTF quote of the day (From the Credit-rating agencies poised to avoid overhaul WaPo article): “The plan would eliminate independent judgment of the rating agencies and replace it with…” Did they say independent?!?