Happy Independance Day! Here are some pre-beach reads (or actual beach reads, if you get TBP on your Kindle):

• Morsi repeated McCain’s error: Ignore the economy (MarketWatch) see also Egypt Interim Leader Inherits Troubled Legacy From Mursi (Bloomberg)
• Is Warren Buffett More Myth Than Legend? (Marketwatch) (A Dimensional Fund Joint)
• Celebrity Economists Make Waves (At Work)
Weber Grills: Mostly Made in America by Private Equity (Businessweek)
• What the Hell Happened to Jon Corzine? (Fiscal Times)
• Rising Rates Tie Ivory-Tower Types in Knots (Bloomberg) see also Bond Funds Losing $60 Billion Foreshadow Risk of Fed Exit (Bloomberg)
• Prosecutions of offshore banks may help turn tide against secrecy  (McClathy)
• Free Press Pushes the Justice Department to Respect Journalists’ Rights (Free Press) see also Meet the “Journalists Against Journalism” club! (Salon)
• The Economics of Eating Out (priceonomics)
• Machiavelli doesn’t belong to the 1 percent (Salon) see also Mankiw, Kaplan, CEO Pay and the Defense of the 1 Percent (Economic Policy Institute)

What beach are you heading to?



Smart Long Term Investors Ignore Headlines


Source: Vanguard

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.

6 Responses to “10 Fourth of July AM Reads”

  1. RW says:

    The knowledge transmission mechanism

    …Joseph Grossman asks “If the vast majority grasp and support the basic shape of the [fiscal] stimulus solution, and if we live in democracies, isn’t it time to shift the analysis to expose the exact and precise mechanisms by which our electoral systems are failing miserably?” This is the question which, since 2010, I have asked myself almost every day. The question becomes even more relevant as the intellectual case for austerity crumbles, but the policy continues, and in some cases even appears to gain ground. There may be some answers that are specific to austerity …But in this post I want to use this example to look at the question of the transmission of economic ideas more generally. So let’s break the question down.

    NB: Wishes for a safe, sane (but none-the-less appropriately lubricated) Independence Day to everyone.

  2. normal1 says:

    Well, as far as beaches go, I’m actually heading from Grace Bay beach in Providenciales, or Provo for short. I’m looking forward to cuddling with my dogs and trying to forget the outrageous prices charged on this island. And the uneasiness I felt as a non-belonger.

    For as long as I live, I will never forget this little adventure with the $15 drinks (before tips) or the $6 per gallon of gas. Not to mention that every dinner meal approached $100. I can’t help but chuckle over the fact that I (as picker of the vacation) fell for the hard sell of “one of the word’s most beautiful beaches.”

  3. flocktard says:

    I’ll drink to that!

  4. Iamthe50percent says:

    Thanks for the “Economics of eating out” link. It was excellent, although I disagree about food trucks and Pakistani food. Maybe it’s different in New York from Chicago. I did google “Washington best cauliflower dish” as suggested. Try it.

  5. Willy2 says:

    “Morsi repeated McCain’s error: Ignore the economy (MarketWatch)”
    “Egypt Interim Leader Inherits Troubled Legacy From Mursi (Bloomberg)”

    Throughout the entire/most of the Middle East (i.e. Egypt as well) gasoline, healthcare, food, electricity are (heavily) subsidized to some (high/low) degree. Healthcare in Saudi Arabia & Kuwayt is actually free. As a result of a fast growing population those subsidies are costing arab governments more and more every year. (Sounds eerily similar to what happens here in the US, right ?). Now those same governments are forced to cut back on those subsidies. And that doesn’t go down too well. (Sounds eerily similar to what happens here in the US, right ?)
    A lot of arab countries are net importers of food, (e.g. wheat, priced in USD). And then a rising USD (against e.g. the eqyptian currency) doesn’t reduce the cost of living either.

    In comparison: Before Indonesia completely cut gasoline subsidies in 2004, those subsidies had grown to about 35% of total expenses in the indonesian government budget.