My morning reads:

Risk On Risk Off is Out: The Street Walks a New Talk (WSJ)
• More evidence that Thomson Reuters data may be leaking out earlier than it’s meant to (Quartz)
• Manhattan’s Stormy Listing Trend (Curbed) see also NYC Coop/Condo Inventory (Miller Samuel Inc.)
• Home Prices are Not Affordable (cepr)
• The real threat to the markets this summer (msn money)
• Revolving Door: Former Members (Open Secrets)
• Asking the U.S. government to allow Google to publish more national security request data (Google)
• The Secret War (Wired) see also Cryptic Overtures and a Clandestine Meeting Gave Birth to a Blockbuster Story (NYT)
• Facebook is Getting Old (Daily Dot)
• Fixing the Digital Economy (NYT)

What are you reading?

 

Nikkei Enters Bear Market
Graphic
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.

21 Responses to “10 Thursday AM Reads”

  1. DeDude says:

    Have you ever wondered why it seems like the market begins responding to the release of data before that data is released? Well there is a simple explanation, the big boys get it early so they can front-run the rest of us.

    http://www.motherjones.com/kevin-drum/2013/06/financialization-america-wee-example

  2. Mike in Nola says:

    Speilberg predicts film industry meltdown:

    http://www.bbc.co.uk/newsbeat/22883015

    I’m not one to talk because we seldom go to movies. Not big on special effects and special powers but like such quaint things as character development, good acting and good writing.

    • Anonymous Jones says:

      Great link. Thanks. I think the “meltdown” they are talking about has already happened (and was sorta caused by them!).

      Anyway, the good writers (who would have been in theater before movies (up to, say, 1930s) and in movies before blockbusters (up to, say, 1980s)) are now in television (or television analogues).

      We’re just not going to see “Chinatown”s and “Godfather”s in the cinema any more. The artists capable of producing such works of visual entertainment are generally doing television (e.g., Matt Weiner). That’s where their audience is, as adults don’t go the cinema as often as they would have in early 70s.

      You’ll occasionally get some good drama in the cinema, but it’s a medium for a young audience now, and it’s difficult to imagine it shifting back.

      Also, I wouldn’t necessarily use the term “meltdown”. First, the movies for the young audiences like the Marvel movies are killing it. Second, even though “Lincoln” shouldn’t have been on the big screen at all (it wasn’t even that good, please not another “speech” for a character!), you can’t argue that it wasn’t a huge financial success. People still enjoy going to the cinema, but for the older audiences, this means a couple times a year, not enough to sustain but a small handful of intelligent movies.

      • Biffah Bacon says:

        I think this is absolutely correct and the opportunities for better filmmaking have never been more promising. Distribution channels are free thanks to the internet, while Amazon, Sony, Netflix, Hulu and many others in the internet space and several channels in the cable space are beating the woods for the next content franchise that will drive eyeballs and dollars to their space. IFC has renewed for two seasons of Portlandia, Breaking Bad is going to its final year, HBO has a number of great program choices, AMC and others producing some quality programming; add this to the ubiquity of digital playback and storage locally or through the cloud and television as it once was is over.

  3. morning_star says:

    “Why I Don’t Care About Edward Snowden”
    http://www.sanders.senate.gov/newsroom/news/?id=ce874a42-a367-452f-afd0-fe76282426fa

    “Love him or hate him, we all owe Snowden our thanks for forcing upon the nation an important debate. But the debate shouldn’t be about him. It should be about the gnawing questions his actions raised from the shadows.”

  4. morning_star says:

    “Toddlers Killed More Americans Than Terrorists Did This Year”
    http://www.opposingviews.com/i/society/guns/toddlers-killed-more-americans-terrorists-did-year

    “This is admittedly tongue-in-cheek, but one has to wonder if the NSA’s PRISM program would have saved more lives had it been monitoring toddlers – or gun owners – rather than suspected terrorists….Listed below are the 11 gun fatalities I found where a preschooler pulled the trigger (from Jan. 1 to June 9, 2013).”

  5. swag says:

    “Transvaginal probes and giving regressive tax cuts after slashing K-12 education expenditures probably isn’t going to draw high-technology/knowledge based workers to the state.”

    Dispatches XXV: A Conjecture Regarding Lagging Employment in Wisconsin

    http://www.econbrowser.com/archives/2013/06/dispatches_xxv.html

  6. Mike in Nola says:

    morning_star:

    Saw that also and agree with Bruce Schneier that looking at cost effectiveness, the War on Terror (TM) has been a boondoggle for contractors and a failure in lives saved per $. Good newsletter here: http://www.schneier.com/ He was hired by the TSA to review their procedures. Needless to say they didn’t like his advice and ignored it.

    Adding Afghanistan, Iraq and all the domestic stuff, the corst has easily amounted to $1 Trillion+ and probably multi-trillions. Not to mention Lord knows how much was spent on the NSA/CIA/FBI monitoring that is secret. Plus, the info on the hijackers was already out there. It was a failure of coordination and investigation.

    I know of a not-very-big bedroom suburb of New Orleans that has spent hundreds of thousands on computer equipment and big screen TV’s for their homeland security center (not counting the cost of a very big old courthouse devoted to it). All as if Osama and his cohorts were about to come driving into town. Repeat this thousands of times throughout the country for every locality getting its share of the pork and it adds up to some real money that could have gone for useful stuff..

    Yet, every year, almost ten times as many American’s die in traffic accidents as died on 9/11.

  7. > Love him or hate him, we all owe Snowden our thanks for forcing upon the nation an important debate.

    Absolutely . . .

    “The transition will mean that ‘today’s racial and ethnic minorities will no longer be dependent on older whites for their economic well-being,’ Dr. Frey said. In fact, the situation may be reversed. ‘It makes more vivid than ever the fact that we will be reliant on younger minorities and immigrants for our future demographic and economic growth . . .’”

    Census Benchmark for White Americans: More Deaths Than Births

    http://goo.gl/dHa2N

  8. jbay says:

    The Secret War (Wired)

    ~ So instead of spending money to fix the damns they’re going to spend money to build bigger weapons? What more proof does someone need that the world is controlled by stupid people? They make the first attack and then are shocked, Shocked!!! That Iran would counter attack. These people work themselves into a frenzy and create there own destruction and then bring everyone else along for the ride.

    Yes, another government could attack the US and cause death. If and when that happens we happen to have the companies that run all the operating system in the entire globe. Are they so silly and uneducated to not understand what GM and the beer brewers did during WWII? They changed operations to planes, tanks and bottling water. Microsoft, Apple, Linux, Google, Oracle, Cisco… If ever there was a reason to attack another country do these buffoons real think the US is not already dominant? So they waste taxpayer dollars instead of fixing the infrastructure they use to justify there existence and the idiots in congress go along with it because…. they’re old and stupid.

    P.S…. Yes I know I went on a rant… I’m sorry and no I don’t associate old with stupid. I know lots old guys that program with the best of them.

    • Chad says:

      It’s not that old people can’t thrive as tech moves forward, it’s that old people are more likely to resist change. Thus, they give other old people a bad name when they still don’t have or don’t understand email.

  9. RW says:

    Don’t be distracted by the gyrations of equity prices: The real action, as usual, is bonds.

    Helicopter QE will never be reversed

    Bondholders across the world may suspect that Britain, the US and other deadbeat states are engineering a stealth default on sovereign debts, and they may be right in a sense. But they are warned. This is the next shoe to drop in the temples of central banking.

  10. Chad says:

    “Facebook has gone from a cool hangout with close friends to a family reunion combined with an office Christmas party.”

    That really sums up Facebook. I don’t see how they maintain a high level of relevancy going forward. They may not implode like Myspace, but they aren’t the next Google that’s for sure.

  11. PeterR says:

    The first episode is out, with Sarah Silverman and Jerry in a 1969 Jaguar XKE Series 2 E-type convertible, plus a short trailer for next week with David Letterman.

    http://comediansincarsgettingcoffee.com/sarah-silverman-i-m-going-to-change-your-life-forever

    http://comediansincarsgettingcoffee.com/david-letterman-i-like-kettlecorn-episode-trailer

    Good stuff!

  12. Joe Friday says:

    This was hysterical:

    FALLON REPRISES ‘TEBOWIE’ TO “REBEL, REBEL”

    Tebow Tebow, released from the Jets
    Tebow Tebow, you’re a Patriot
    Tebow Tebow, it’s Tom Brady’s show
    Will you play? I say hell no.

  13. Mike in Nola says:

    Pretty funny for those of us bitten by the Twitter bug:

    How the founding fathers (and mothers) would have tweeted:

    http://www.bloomberg.com/news/2013-06-13/14-great-americans-on-twitter-before-hillaryclinton.html

  14. willid3 says:

    so the great intern scam may be coming to an end ?

    http://business.time.com/2013/06/13/black-swan-event-the-beginning-of-the-end-of-unpaid-internships

    thats where an employer brings you as an unpaid intern, to actually do work, not learn some thing. gee…free labor!

  15. VennData says:

    ​Michigan sells consumer survey info. Looks like “Go Blue” went green.​

    http://online.wsj.com/article/SB10001424127887324682204578515963191421602.html