My afternoon train reads:

• Seven Myths about Keynesian Economics (The Fiscal Times) see also Keynes’s Biggest Mistake (Economix)
• NYSE Margin Debt Raises Eyebrows (Moneybeat)
• Valuation: Forward P/E of the S&P 500 rising  (Dr.Ed’s Blog)
• Is Soros shorting the dollar? (Sydney Morning Herald) see also The Cost of (Equity) Capital (Baseline Scenario)
• Reinhart-Rogoff’s Lesson for Economists (Bloomberg)
• The Apprentices of a Digital Age (NYT)
• Heritage vs. Heritage: Major Immigration Report Released Today Directly Contradicts Its 2006 Study (Think Progress)
• Nate Silver: Confidence Kills Predictions (Farnam Street)
• Easing Brain Fatigue With a Walk in the Park (NYT)
• Thank You for Not Sharing (WSJ)

What are you reading?

 

Dow closes above 15,000 for 1st Time
Chart
Source: CNNMoney

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.

10 Responses to “10 Tuesday PM Reads”

  1. VennData says:

    Invade Syria! Costs be damned! Cut Obama’s largest tax increase in history on the rich!!

    Get out there and shop!!!

  2. VennData says:

    Heritage will say ​ANYTHING to appease what the Koch brothers want.

    As I said the day after the election, the GOP Media Machine will flip flop on Immigration and cloak it in terms of freedom while saying they’re helping “latinos” and bringing down the spiraling costs of tech workers… “spiralling costs.” The “Costs” of the Middle Class.

    Yeah you keep listening to these Right-Wing-reliable whores like Reinhart and Rogoff

    See: http://www.ritholtz.com/blog/2013/05/blame-politicos-not-reinhart-rogoff/

    …and the bitches at Heritage. You go GOP voter, you have such solid intellectual foundations for your beliefs, like background checks are unconstitutional! well, for guns. You GOP voters are completely nuts.

  3. hue says:

    The Sixth Mass Extinction is Upon Us (Daily Beast)

    Apple Bond Issue? Steve Jobs Would’ve Bought Tesla (The Ticker)

    Fear & Loathing in Louisville. The Derby on Acid (Vice)

  4. beaufou says:

    “That is not the story in our newsrooms, of course. Walk into a TV studio and they’re all reading newspapers. Walk into a newspaper office and they’re all watching television. It’s osmotic. And the headlines are all the same: Syria uses chemical weapons. That’s how the theatre works.”

    http://www.independent.co.uk/news/world/middle-east/syria-and-sarin-gas-us-claims-have-a-very-familiar-ring-8591214.html

  5. How high does the Dow have to go before the Keynesians will agree that it’s actually not a bad time for counter-cyclical tightening, in order to have some headroom for stimulus during the next downturn?

    • willid3 says:

      depends. when the dow is sky rocketing for no real reason (as each company comes in with lower revenues and only getting higher profit. which cant last for much longer) . when the real economy gets turned around instead of the wall street one is when you start cutting spending, as it is, that has yet to happen

      • I was just picking on the Dow because it’s today’s headline, but we could frame the question in terms of unemployment, GDP, or any metric you like.

        The Fed has drawn their lines at 2% inflation and 6.5% U-3 unemployment, before they will ease off the monetary gas. But they’re a long way from actually normalizing rates.

        I think Washington has tacitly agreed that now is not such a bad time to tighten up a bit – hence the tax increases and spending reductions. Maybe they cannot state explicitly “this is now the policy” because both parties have fringes to appease. But I think any of the serious Keynesians, who have been screaming about the tightening being inappropriate right now, ought to be able to put forth a serious proposal about when tightening would be appropriate.

  6. RW says:

    What does the Dow have to do with Keynesian theory generally or any of its derived models?

    As far as I know it is completely irrelevant to the general theory; might have an impact on some model or other but I’m a long way from being familiar with that literature.