My morning reads:

• Yellen Betting Defies 100-Year Jinx of Fed No. 2 Never Elevated (Bloomberg) see also Summers? Geithner? White House Makes Shortlist for Bernanke’s Job (WSJ)
• Wall St boom, Main St bust (FT Alphaville)
• Yes, We Have No Inflation (Economix) see also In Japan, Prices Stabilize for the First Time in Months (NYT)
• Record $13B ETF Outflows In June 2013 (Index Universe)
• Gold Traders Split as Rout Resumes in Bear Market (Bloomberg) see also The Chart That Best Illustrates How Gold Was A Bubble (Business Insider)
• Fashionable ‘Risk Parity’ Funds Hit Hard (WSJ)
• Greeks try farming as a backup plan (Washington Post)
Racism Is a Tough Sell: The Real Reason Everyone Dumped Paula Deen (Daily Beast)
• The State of Google Reader Replacements (TidBits)
• Japan Is Counting on Friendly Robots to Save Its Economy (Atlantic)

What are you reading?

 

Jeff Gundlach still kicking Bill Gross’s ass
Chart
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.

18 Responses to “10 Friday AM Reads”

  1. theexpertisin says:

    Bill Gross, residing in California, is performing like a melodramatic actor in a Hollywood B movie.

    Jeff Gundlach, residing in California, is performing like the consummate financial professional with a plan.

  2. willid3 says:

    the wonders of the market and the privatization of government functions.

    http://www.washingtonpost.com/business/economy/company-allegedly-misled-government-about-security-clearance-checks/2013/06/27/dfb7ee04-df5c-11e2-b2d4-ea6d8f477a01_story_1.html

    seems the US government spun off parts of what it does, which is the back ground check to make sure those who have access to secret information, really should have access to that. unfortunately as a private business, which is doing this for profit, it started taking short cuts. skipping a step or 2 here and there. but not telling its customer that , it told them that it had done those things that it skipped doing.

  3. Oral Hazard says:

    Criticize Dentist on Yelp, Get Threatened with Felony Internet Business Defamation
    http://consumerist.com/2013/06/27/criticize-dentist-on-yelp-get-threatened-with-felony-internet-business-defamation/

    Texas attorney Leif Olson’s response letter to the dentist’s lawyer is an instant legal classic. Enjoy!

  4. DeDude says:

    Where have all the scandals gone? – I guess that when the media fail to explain the presidents actions as “trying to distract from scandal x”, then it really is all over.

    http://nymag.com/daily/intelligencer/2013/06/obama-scandals-used-to-be-a-thing.html

    One nice little nugget that I did not realize before. “Darrell Issa, chairman of the House Oversight Committee, ordered the agency to audit its treatment of tea-party groups, and only tea-party groups”. So this audit does not discover the use of “progressive” words for targeting, because it was only asked to look for targeting of right wing groups. The targeting of left wing groups only comes out later when someone finally ask the relevant question of “how about targeting of left wing groups?”

    • bear_in_mind says:

      Frankly, even in the dysfunctional atmosphere of the Beltway, it’s tres loco why the agency principles didn’t have all the facts and mount a sane defense from the outset. I guess someone didn’t want to burn political capital on this given how PUNK most bank balances sheets are today.

      • DeDude says:

        That is a good point. Whoever constructed that report either was very stupid or had a political agenda (probably both). The Cheney administration had a policy of hiring incompetent right wingers into what was supposed to be career (non-political) jobs. Even the concept of “proving” political bias by just looking for targeting of one side is mind bogglingly incompetent. The first thing I was looking for was a simple table of how many applications from each side vs processing time averages for each side – and then a simple t-test to show if the differences were statistically significant. Never found it.

      • bear_in_mind says:

        Ah yes, the Cheney Administration making government fail forward since 1975 – though he really hit his stride beginning in 2000. No doubt that’s probably the biggest factor here. Good call.

  5. rd says:

    Summers and Geithner have done enough damage to the US economy and Rule of Law (Rubin too). None of them should be considered to be Fed Chair.

  6. willid3 says:

    is growth always good? and do we really measure the reight things?
    http://www.nakedcapitalism.com/2013/06/james-boyce-limits-to-growth-of-what.html

  7. swag says:

    Oh my:
    Report: US general under investigation for Stuxnet leak
    Retired Marine Gen. James Cartwright was formerly a vice chairman of the Joint Chiefs of Staff

    http://www.networkworld.com/news/2013/062813-report-us-general-under-investigation-271380.html?source=NWWNLE_nlt_daily_am_2013-06-28

  8. willid3 says:

    hm…why is it only foreign banks are being hit up for fines as opposed to US ones?
    http://www.bloomberg.com/news/2013-06-27/where-are-the-libor-cases-against-u-s-banks-.html

  9. VennData says:

    Rising Mortgage Rates: Straw that Breaks the Recovery’s Back?

    http://www.foxbusiness.com/personal-finance/2013/06/28/rising-mortgage-rates-straw-that-breaks-recovery-back/#ixzz2XYjyq800

    Listen to Rupert Murdock! He’s been dead-on accurate for five years now! Trust him!

    Recovery = kaput!!!

    Listen only to his news shows GOP voter!

    Mr Values and his multitude of wives!

    LISTEN TO HIM ONLY!!! BUY MORE GOLD!!!!!!

  10. TrainStation says:

    “Yes, We Have No Inflation”????

    Let’s see, my property taxes are up 4 to 5%, homeowners insurance 4 to 5%, groceries 4 to 5%, beef and milk alone up 5 to 15%, gym membership 5%, cable tv, internet, phone, etc, up 5%, tolls, parking at the airport up 10 to 15%, airfare up 15%, clothing flat, gas flat.

    Medical may be up 10%. Premiums for the office is up 10%. Some of it is being offset by raising deductibles and copay. Numbers are being moved around but big deal, the total medical is still up 10%.

    As the guys at happy hour chimed in, the government doesn’t calculate many of these items anymore. These 5 to 15% items do not fit the government’s 1 to 2% inflation numbers agenda.

    • You have a fundamental misunderstanding of what Inflation is.

      All of these things (or some similar good or service) are in CPI and PPI data.

      I was screaming about inflation in 2003-07 and most people ignored it.

  11. VennData says:

    Geithner would be great, I’d enjoy buying from the bloviating wingnuts if Tim got the nod.

    Summers would be good too in that regard, be good to see Peter Schiff, Rick Santelli, and the WSJ opinion page screeching while I pick up their followers knee jerk selling.

  12. VennData says:

    LOVE to see Summers slice and dice Ron Paul on “gold” in the confirmation.

    Ron Paul! ROFL.

  13. bear_in_mind says:

    OMG: Summers and Geithner!!!!!! It’s like a cross between Laurel & Hardy and the Al Capone’s gang. If one of these two laissez-faire stooges is elected, I might dust off my application for Temp Citizenship status in Canada.