My longer form weekend reading material:

• How the Case for Austerity Has Crumbled (NYRB)
• The changing nature of work: Increasing automation is fundamentally shifting the nature of work away from ‘making stuff’ towards personal services. (piera)
That’s a ‘Depression’: Europe’s Double-Dip Is Officially Longer Than Its Great Recession (Atlantic)
• This Is Your Brain, On: How our minds work their way through the maze of consciousness (BookForum
• Dirty medicine: Epic inside story of long-term criminal fraud at Ranbaxy (Fortune) see also Meet the career con man who made a fortune selling illegal pharmaceuticals online—and pulled off a federal sting that forced Google to pay $500 million. (Wired)
• Jaron Lanier: The Internet destroyed the middle class (Salon)
• Welcome to the Programmable World (Wired)
• The Possibilian: The mysteries of time and the brain.  (The New Yorker)
• Secret Rocks: The $10 billion jewels industry is shrouded in beauty—and mystery. Is change about to come? (WSJ)
• The Dark and Starry Eyes of Ray Bradbury (The New Atlantis)

What’s up for the weekend?

 

Tepid Profits, Roaring Stocks
MI-BW020A_MKTLE_G_20130516183604
Source: WSJ

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 Weekend Reads”

  1. chartist says:

    I am using Ford stock as my tell. I am convinced this stock is headed to $19.70 this year. It has a beta of 1.56 so when it reaches my target, the S&P should be around 2000…..

  2. flocktard says:

    Comment about the Internet destroying the middle class is spot on. Compare the market caps of Boeing and Facebook. Boeing has 174,000 employees. Market cap is $75 billion. Facebook: about 5000 employees. Market cap (after a fashion) is $63.5 billion. Technology is just a job killer. Ask any former travel agent. Or Blockbuster franchisee.

  3. hue says:

    Why Kim Kardashian Matters to the Stock Market (Minyanville)

    GSE Critics Ignore Loan Performance (American Banker)

    Save the Pelican. Ice Shoves Into Manitoba Houses (NPR)

  4. James Cameron says:

    That’s the idea . . .

    “Assemblyman Vito J. Lopez, who was accused of sexually harassing multiple female employees, said he would resign and instead run for New York City Council.”

    Faulted for Sex Harassment, Legislator Will Quit Albany

    http://goo.gl/lj3Mv

  5. judabomber says:

    How about a WTF headline for the weekend…according to CBO student loans are going to generate $50 billion in revenue for Uncle Sam in FY 2013 (that’s one year for those not paying attention):

    http://www.huffingtonpost.com/2013/05/14/obama-student-loans-policy-profit_n_3276428.html

  6. nofoulsontheplayground says:

    McClellan Publications – “Open Arms Index Shows Overbought Condition”

    http://www.mcoscillator.com/learning_center/weekly_chart/open_arms_index_shows_overbought_condition/

  7. RW says:


    Bob Kuttner’s “Debtors’ Prison”

    Jared Bernstein: Book review and [in the video] panel discussion

    I was fortunate to be part of a panel yesterday at the Economic Policy Institute commenting on Robert Kuttner’s important new book, “Debtors’ Prison.” Here’s the video of the event though for some reason the sound doesn’t start until about six minutes in—here’s a written summary. Bob also gives a fine summary and I very much admired the comments of Teresa Ghilarducci (note her provocative points on financial literacy) and Damon Silvers, who brought in a fascinating cultural dimension to the analysis.

    Speaking of culture:

    GunFAIL XVIII

    We’re back, once again. The kids once again dominated the week, with seven kids under 16 years of age who either shot themselves or were shot by other kids under 16. The youngest victim of GunFAIL this week was just 13 months old, shot by her dad while cleaning his guns. ….

    Three concealed carry ninjas had accidental discharges this week, as did five cops. …We also recorded two folks (the 109th and 110th of 2013) shot while cleaning loaded weapons, plus three more home invasion shootings. …Florida continues its dominance of the Derp Crown Sweepstakes this week, thanks to the woman in St. Petersburg who accidentally shot her friend while on a Starbucks run, with a gun she had forgotten was in her purse …

  8. VennData says:

    Powerball jackpot pushing largest lottery payout in history

    Uncertainty. ​These tax rates are really effecting people’s willingness face down the uncertainty and make any kind of financial decision whatsoever.

    http://www.chicagotribune.com/news/chi-powerball-numbers-20130518,0,3518238.story

  9. DeDude says:

    In the midst of the heat of the IRS scandal it may be worth reading the statute.

    http://www.irs.gov/pub/irs-tege/eotopici03.pdf

    Remember that IRS is supposed to identify and deny tax free status to political groups. In the midst of a large number of applications they developed “profiling” to identify groups that might have been more likely to be political (and therefore should be denied). Their main sin seem to have been a lack of political sense. Although the main problem was right wing political groups using what appeared to be a loop hole to get political contributions without needing to reveal the identity of the donor, they should have put in a few left wing phrases in their screening/profiling document. It is like the huge emphasis on muslims in airport screenings. Understandable where it comes from, but still not acceptable.

  10. VennData says:

    One major reason why machines are winning is our inability to process lots of financial data, which is getting more complex and voluminous every year.

    http://stream.marketwatch.com/story/markets/SS-4-4/SS-4-30154/

    If machines mispriced stocks, you should not complain but take advantage