Good Saturday morning. What you need is a restful, recharging weekend. To send you in that direction, may I suggest you spend some time with these longer form journalism pieces? They will inform, entertain and educate you.

Feed your brain:

• On Being an Octopus (Boston Review)
• What does it mean to have “predicted the crisis”? (Noahpinion)
• Google is the General Electric of the 21st century (FT.com)
• Join Wall Street. Save the world. (Wonkblog)
• List of common misconceptions  (Wiki)  [Warning: Massive timesuck]
• In China, an Empire Built by Aping Apple (NYT)
• How the GOP lost young voters (Politico)
• The Domestic Surveillance Boom, From Bush to Obama (Mother Jones)
A Small World After All: A new book sheds light on how little of the world we see through our browsers (Book Forum)
• Why ESPN is so good at televising spelling bees, poker, yachting, and other non-sports (Quartz)

What are you doing this weekend?

 

Profit cycle vs GDP
Chart
Source: Investing Caffeine

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.

16 Responses to “10 Weekend Reads”

  1. Perry Sikes says:

    Timesuck? More like a time warp!! We were warned.

  2. rd says:

    A few more decades and corporate profits should be 100% of GDP and investing nirvana will have been achieved.

  3. farmera1 says:

    Good read on some of the stuff happening to the blue collar worker. It ain’t good.

    http://www.theatlantic.com/business/archive/2013/06/this-is-the-way-blue-collar-america-ends/276554/

    “Today, fewer than 40 percent of U.S. manufacturing employees actually work in factories. Our reporter travels to Milwaukee to see what that means for one company and its city.”

    “Take a close look at Rockwell Automation, and you’ll understand why the modern manufacturing industry manages to be both a tremendous economic driver and a tough business in which to get a job. It’s becoming standard for many manufacturing companies to require employees to have college degrees–and some jobs require a PhD. Factory-floor openings are scarce and often require specific credentials.”

    Automation, computers, robots, higher skill requirements for workers, out sourcing jobs to cheaper labor markets, bringing in cheaper skilled/trained workers from over seas, all are working against the working people. This appears to be a trend and I don’t see most of it stopping soon. The future is here. So where do middle class workers go, lower paying service jobs, unemployment, or fall off the cliff. I see lots of unemployment/ under employment being a permanent thing with standards of living for the masses continuing to fall.

  4. ironman says:

    Confirming the market monetarist model (The Money Illusion)

    Yes, it’s somewhat self-serving. Still the biggest story out of economics in the past week….

  5. cjb says:

    When I read items like the Politico piece, I get the sense the GOP, as well as the Democratic Party, are more concerned about selling themselves rather than making a basic philosophical change. If you don’t change your core values, the truth will come out during these incredibly long campaign seasons, and no one will give up the long campaign seasons because it’s too profitable a business. It is not about getting across a political philosophy any more. It’s about profits.

    • Did you actually read the Politico piece carefully? I don’t get the sense you grokked either the main point or the subtext based on the false equivalency you began your comment with.

      The GOP gave up their core values decades ago when they got into bed with the religious right. You cannot be a Small Government Libertarian yet still want Washington DC to enforce your religious beliefs. That error is why the GOP has lost the youth (Gay rights) Hispanics (immigration) and Asians (religous persecution/Jesus nation). I became an Ex-Republican because of their denial of things like Science, evolution and Global Warming.

  6. lrh says:

    Epic scientific takedown of the practice of punditry in your link from Noahpinion. Thanks. Here’s another:

    “Nature”, the international weekly journal of science, takes the head honcho of Harvard’s nutrition department to task. Says “it is risky to oversimplify science” and bad to argue that evidence that disconfirms your conclusions “should not be published or discussed.” Ouch. That will leave a mark!

    http://www.nature.com/news/shades-of-grey-1.13029

  7. nofoulsontheplayground says:

    Doug Noland – “Twenty Year Anniversary of Market Backstops”

    http://www.safehaven.com/article/30087/twenty-year-anniversary-of-market-backstops

    This is a good analysis of the Q1 flow of funds as well as a macro view of what Doug calls the Government Finance Bubble. This is a very good read regardless of whether you are bullish or bearish.

  8. Bob is still unemployed   says:

    Ask.fm, the troubling secret playground of tweens and teens

    I figured the tweens and teens had to go somewhere after they fled Facebook…..

    “…Today, Ask.fm has ballooned into a parent-free digital space where kids go to goof off and escape the built-in accountability of Facebook. According to brother co-founders Mark and Ilja Terebin, Ask.fm is big in Brazil, the U.S., Italy, Russia, the U.K., Germany, Turkey, Argentina, Poland, and France, though it has a presence in 150 additional countries….”

  9. PeterR says:

    This weekend I am wondering what we are NOT being told about government surveillance, and whether the founders of this country ever envisioned there being a secret court system.

    http://www.nytimes.com/2013/06/08/technology/tech-companies-bristling-concede-to-government-surveillance-efforts.html

    One is reminded of the Star Chamber in England before the American Revolution.

    https://en.wikipedia.org/wiki/Star_Chamber

  10. bear_in_mind says:

    Fascinating graph on the Profit Cycle vs GDP. Kinda looks like the trend is ripe for mean reversion. Then again, the years 1989-1994 may have been outliers?

  11. RW says:

    GunFAIL XXI

    This week’s compilation includes: six concealed carry ninjas who accidentally shot themselves; four cops who shot themselves (including two local chiefs of police); one gun store owner (i.e., a civilian “gun expert”); one person who shot themselves supposedly teaching another person how to shoot safely; …; four kids shot by other kids and one adult shot by a 4-year-old; two pre-schoolers who shot their own fingers off; three home invasion shootings*, plus one accidental shooting of someone on an adjacent property and one shooting inside of a single house, but between floors of that house; two gun carriers who accidentally discharged their weapons while out shopping among the public they were making safer, and; 14 kids accidentally shot, …Six of those kids were killed.

    Stories of note would have to include that of the 19-year-old man who killed his 13-year-old step-sister on her birthday, while handling an AK-47 in which he “forgot he had a loaded magazine.” And the 16-year-old shot by his 15-year-old friend while “playing a zombie game.” And the 4-year-old who killed his father, having found an unsecured gun in the friend’s home the two were visiting. …

    Finally, one other story worth noting: the 69-year-old member of the St. Charles Sportsman’s Club in Blackberry, IL who accidentally discharged his shotgun inside the clubhouse, injuring 10 fellow club members. That’s gonna be a tough one to explain come membership renewal time. …

    * “home invasion” in this weekly series normally means a bullet did the invading, not a person.

  12. 873450 says:

    Immigration Reform Could Boost Real Estate and Mortgage Markets

    http://www.nytimes.com/2013/06/09/realestate/immigration-reform-could-be-a-boon-to-real-estate.html?ref=realestate

    “Passage of immigration reform could be a boon to the real estate and mortgage markets over the next decade … based on the assumption that some six million unauthorized immigrants would probably pursue legalization … That’s a little more than half of the total number of unauthorized immigrants in the United States … about three million of those who would pursue legalization would also buy homes, based on previous rates of home ownership among foreign-born households … The $500 billion in real estate transactions would also generate $25 billion in mortgage origination and refinance income, and $28 billion in commission income to real estate professionals …”

    Of course, it goes without saying that immigration legislation boosting the economy while a DEM resides in the White House only provides GOP one more reason to kill it.

  13. RW says:

    America’s Worst Charities

    Hundreds of charities do little but turn donations into profit.

    This is what good investigative journalism looks like — in depth w/ clear summary articles, a number of related articles adding more detail on specific topics, and links to relevant agencies and resources.

    The 50 Worst, Ranked By Money Blown On Soliciting Costs

    Been called by someone asking for donations to the Cancer Fund of America, Police Protective Fund or Firefighters Burn Fund (among many others)? Sure hope you didn’t send ‘em any money.

  14. toddie.g says:

    Just finished reading the very interesting Politico piece on the GOP’s self post-mortem.

    This line towards the end stood out:

    On an optimistic note, the reports says, “Our research finds both a dismal present situation and an incredible opportunity for turning the GOP brand around.”

    Let me rephrase that for the GOP without spin: The GOP better start adopting policy that is more like Democratic policy on marriage equality, immigration reform, tax cuts for the wealthy and reproductive rights OR over time become an irrelevant party relegated to the dustbin of history. With 60% of young voters voting Democratic in 2012, the GOP has “an incredible opportunity for turning the GOP brand around” if they adopt similar stances on those issues young Americans fervently support.

    It’s dismal for the GOP that presently the GOP views are 180 degrees from that.