My afternoon train reading

• A History of Corrections (Yardeni)
• Dire Predictions For Housing Recovery (CNBC) see also The housing-recovery myth (MarketWatch)
• Only One Show On CNBC That’s Not Stinking It Up Now (Business Insider)
• P/Es high as earnings season begins (MarketWatch)
• Econ 101 is killing America (Salon)
• In Rush to Sue Delinquent Borrowers, JPMorgan Racked Up Errors (Wall St. Cheat Sheet)
• Cars Are Fast Becoming Smartphones on Wheels (MIT Technology Review)
• How the media outrageously blew the IRS scandal: A full accounting (Salon)
• How True To Life Are Your Favorite Hollywood Wall Streeters? (Business Insider)
• So, You Want to Hide from the NSA? Your Guide to the Nearly Impossible (Atlantic Wire)

What are you reading?

 

Contributions to growth
Chart
Source: Economist

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.

10 Responses to “10 Mid-Week PM Reads”

  1. “Tchenguiz has launched an unprecedented legal assault on the Serious Fraud Office, one of the top agencies for prosecuting white-collar crime in the U.K. After the SFO’s investigation of Tchenguiz’s dealings with an Icelandic bank fell apart last year, he accused the office of malicious prosecution and false imprisonment in a lawsuit filed in the High Court in London in December.”

    Brothers Nabbed in Bungled U.K. Bank Probe Sue for $457 Million (Bloomberg)

    http://goo.gl/rlCpd

  2. willid3 says:

    oh oh….here we go again
    http://blogs.reuters.com/felix-salmon/2013/07/10/history-repeats-itself-financial-regulation-edition/

    we are repeating what lead to the biggest debacle since the 1930s. again

  3. willid3 says:

    hm. can’t imagine why the DOD can’t seem to pay soldiers correctly.

    http://preview.reuters.com/2013/7/2/wounded-in-battle-stiffed-by-the-pentagon

    then again maybe i can. since payroll isn’t what they do, and its not a weapon system, or troops. it just doesnt matter much to the military brass. so i am guessing the skimped on keeping staff around that knew what they were doing, its not the computers or the language (which are still run most of the big companies. even today).

    it was ‘easy’ cost savings because it had no one to support it. seems to be the same with the DOD keeping track of what its spends, and where the money is. probably for the same reason. because the DOD doesnt care about that. and all of those manual procedures to work around the system make it look even worse.

  4. willid3 says:

    guessing all of those cost cutting and job cutting programs that wall street and business have been big on, are now coming to roost. starting at the bottom of the economic hierarchy

    http://qz.com/102260/one-telling-sign-that-low-income-american-families-are-doing-terribly/

    seems that those who sell to the low incomes folks, are now seeing lost sales. imagine that. and as time progresses i expect that will expand upwards.

  5. willid3 says:

    hm. why your taxes are really higher than they need to be? because we give so much preference to some types of income? that others have to rise to make up for the losse?

    http://angrybearblog.com/2013/07/another-reason-to-ditch-the-capital-gains-preference-games-lawyers-and-hedge-funds-play.html#more-15827

    but of course when some are talking tax cuts, most of us are thinking they mean all of us, when in fact they dont.

  6. PeterR says:

    More governmental lying, in this case about the Fukushima plant leaking, which Tepo firmly denied since 2011:

    http://www.nytimes.com/2013/07/11/world/asia/japanese-nuclear-plant-may-have-been-leaking-for-two-years.html?hp&_r=0

    Great . . .

  7. Frwip says:

    Rates going from 3.5% to 4.5% on the 30 yr fixed, that’s 11.4% less money available for the principal for a given monthly payment.

    At 3.5%, one dollar a month would buy you $222 worth of house, but only $197 at 4.5%.

    It is likely the real estate market is going to register some of that.

  8. VennData says:

    “…In short, the entire scandal narrative was a fiction. But it had real consequences, effectively derailing Obama’s agenda not long after a resounding reelection, costing several people their careers, and distracting and misinforming the public. It’s not that nothing went wrong at the IRS, but that the transgression merited nowhere near the media response it earned. But instead of acknowledging its error or correcting the record, the mainstream political press has simply moved on to the next game…”

    Bengazi! IRS! AP! NSA! ROFL!!!

  9. barbacoa666 says:

    WRT “The housing-recovery myth,” David Weidner (author) neglected to consider states with a judicial foreclosure process vs. those with a non-judicial foreclosure process. According to Calculated Risk, the foreclosure rates in states with a non-judicial process are pretty close to where it was before the crisis. Those states with a judicial process are lagging: http://www.calculatedriskblog.com/2013/06/friday-jobs-jobs-jobs.html

  10. S Brennan says:

    I enjoyed [Econ 101 is Destroying America]; loved seeing Kevin Drum having his “farm expertise” shoved back at him.

    “Mother Jones, Kevin Drum claims: “Most Americans just aren’t willing to do backbreaking agricultural labor for a bit above minimum wage, and if the wage rate were much higher the farms would no longer be competitive.” But if American farmworkers were paid better, then U.S. agribusiness would have an incentive to cut costs using technology, like automated tomato picking machines, as the agricultural sectors of Japan, Australia and other high-wage nations have done.”

    Recalling a few years back, Kevin was playing armchair General, verbally gesticulating his way to an easy victory in Iraq….People taken in by Econ 101, get taken in by just about anything else wealth & power are selling.