My 10:03 Acela to Boston morning reads:

• Forecast Calls for Volatility (WSJ)
• Why the Fed Hates the Word ‘Tapering’ (Real Time Economics) see also Look For Fed to Taper Talk of ‘Tapering’ (Barron’s)
Brett Arends: Why Wall Street loses its mind every summer (MarketWatch)
• Josh two fer:
…..-The Doomer Biz Hits the Clearance Aisle (The Reformed Broker)
…..-Why the Super-Rich Love Bubbles (The Reformed Broker)
• 4 reasons Bernanke may be world’s best central banker (USA Today)
• Median CEO Pay Rises to $9.7 Million in 2012 (AP) but see Labor’s Falling Share, Everywhere (Conversable Economist)
• WWDC 2013 Expectations (Daring Fireball)
• Silent War (Vanity Fair)
• Apple to Revamp iPhone Software, Ending Product Funk (Bloomberg) see also Apple Enters Net Radio’s Busy Field (NYT)
• Before and After: A Satellite Captures Damage and Recovery from Superstorm Sandy (Time)

What are your reading?

 

 

AAII allocation cash levels fell to lowest in over 2 years
Chart
Source: The Short Side of Long

Category: Federal Reserve

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.

16 Responses to “10 Monday AM Reads”

  1. VennData says:

    More Guardian idiocy…

    “… . On May 20, he boarded a flight to Hong Kong … He chose the city because ‘they have a spirited commitment to free speech and the right of political dissent,’ and because he believed that it was one of the few places in the world that both could and would resist the dictates of the US government…”

    http://www.guardian.co.uk/world/2013/jun/09/edward-snowden-nsa-whistleblower-surveillance

    Run to China buddy. Great idea. Whoops…

    Hong Kong Seen as Likely to Extradite Leaker if U.S. Asks

    http://www.nytimes.com/2013/06/11/world/asia/edward-snowden-hong-kong-extradition.html

    Edward Snowden, traitor. You will always be known as a traitor buddy. Enjoy.

    • woolybear1 says:

      Edward Snowden = a true patriot

    • beaufou says:

      Any man worth his salt would have done the same thing, traitor to whom may I ask, you, what are you so proud of by being spied upon?

    • rd says:

      One framework to think this one through is the concept of obeying only lawful orders in the military:
      http://usmilitary.about.com/cs/militarylaw1/a/obeyingorders.htm

      I haven’t gotten into enough detail yet to fully understand where the NSA activities fit within the US Constitution, but it is pretty clear that the tortured legal arguments to allow for torture, extraordinary rendition, and other actions over the past decade give one pause on simply taking any Administration’s explalnations at face value regarding these types of activities.

      In particular, it seems a bit bizarre to give wide latitiude on probing citizens’ communications to fight international terrorism which actually is a fairly low cause of death and injury while not allowing universal background checks regarding purchase of guns that are a significant cause of death and injury in the US.

      • ilsm says:

        Enlisted personnel take and oath which includes: ” that I will obey the orders of the President of the United States and the orders of the officers appointed over me, according to regulations and the Uniform Code of Military Justice.”

        A commissioned officer does not swear to obey, but swears to “that I will well and faithfully discharge the duties of the office upon which I am about to enter;”

        Bothe defend the US Constitutions, but an officer do it “well and faithfully”, not obeying other officers.

  2. dsawy says:

    Guess who profited from changes in a Medicare funding plan?

    That’s right: Government employees with knowledge of the plan. Classic insider-trading:

    http://www.washingtonpost.com/politics/hundreds-in-government-had-advance-word-of-medicare-action-at-heart-of-trading-spike-probe/2013/06/09/044944d0-cec7-11e2-8845-d970ccb04497_story.html

    I’ll go on the record now with a prediction that no one is prosecuted or loses their job over this.

    • willid3 says:

      well i guess if Congress can’t get in trouble for insider trading why should fed’s employee?

  3. Fred C Dobbs says:

    I disagree with VennData. Snowden may be a patriot, acting true to the ideals of the ‘founding fathers’ who put freedom and liberty above material benefits. How many starved to death in the process of founding colonies in Virginia and Massachusetts? Presumably they could have stayed safely at home, submitting to the twin controls of the established government and established church, sharing a monopoly of power over them. When John Brown began the Civil War, some labelled him a traitor too. Interesting days ahead.

  4. rd says:

    Forecast calls for volatility…..

    Reminds me of a classic video weather forecasting presentation series:

    http://www.youtube.com/watch?v=D1uaw3WIOlc

    http://www.youtube.com/watch?v=Z2HpB5CGfLQ

    “The weather will continue to change for a long, long time”

  5. willid3 says:

    hm do markets undermine morality?
    http://www.bloomberg.com/news/2013-06-09/when-market-incentives-undermine-morality.html

    and is health care really a market?

    • rd says:

      Health care in the US is a market in the same fashion that buying protection from the mob is a market.

      Interestingly, the one private sector group that has bargaining power, large firms buying private health insurance group plans, have struggled more than the government in controlling costs over the past few years.

  6. > Edward Snowden, traitor. You will always be known as a traitor buddy. Enjoy.

    Others would disagree . . .

    http://goo.gl/1CNGL (MarketWatch poll)

    http://goo.gl/Tw1SC (Business Insider poll)

    Personally, I think he did the country a service . . .

  7. RW says:

    Sequester Watch, #8

    This week, a ‘nice’ collection of micro and macro impacts, from job markets to meals for homebound elderlies and Head Start slots for kids.

    As I mentioned on Friday, the sequester is beginning to reveal itself in the monthly unemployment data …

  8. rd says:

    An interesting analysis here of demographics and labor force participation ratio:

    http://advisorperspectives.com/dshort/commentaries/Aging-Labor-Force.php

    However, Doug Short conflates the size of one’s nest egg and ability to retire in his last paragraph. Probably the two biggest single drivers of the delay in boomer retirement is the housing collapse which dramatically reduce home equity for many people and the low interest/dividend yields in the markets. A bigger nest doesn’t mean much for a 20 to 30 year retirement period if you can’t generate income.

  9. PeterR says:

    The trailer for the new season is out:

    http://comediansincarsgettingcoffee.com/

    This coming Thursday at noon is the release of episode #1.

    Looks good!