My morning reads:

• ‘Fabulous Fab’ Trial: How to Create a Synthetic CDO (Moneybeat)
• Forget Battery Swapping: Tesla Aims to Charge Electric Cars in Five Minutes (MIT Technology Review) see also Peek Inside Tesla’s Robotic Factory (Wired)
• Kazarian Emerges After 20 Years With Bid for 10% of Greek Debt (Bloomberg)
Today’s WTF headline:  IKEA becomes largest foreign landowner in China (Want China Times)
• John Galt and the Theory of the Firm (The Conscience of a Liberal) see also At Sears, Eddie Lampert’s Warring Divisions Model Adds to the Troubles (Businessweek)
• The Return of Lawrence Summers, Mr. Spectacular Failure (Nation)
• For hire: Professional liars for job seekers (CNNMoney)
• Why Do Mosquitoes Bite Some People More Than Others? (Smithsonian)
• Jenny McCarthy’s Dangerous Views on Vaccination (Elements) see also Anti-Vaccine Body Count (Jenny McCarthy Body Count)
• Skyscraper Builders Reach for the Stars Once Again (WSJ)

What are you reading?


As Consumer-Discretionary Stocks Surge, Bears Lurk
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.

11 Responses to “10 MidWeek AM Reads”

  1. 873450 says:

    Fed Chief Calls Congress Biggest Obstacle to Growth

    “The Federal Reserve’s chairman, Ben S. Bernanke, said Wednesday that Congress is the largest obstacle to faster economic growth, and he warned that upcoming decisions about fiscal policy could once again undermine the nation’s recovery.

    “The economic recovery has continued at a moderate pace in recent quarters despite the strong headwinds created by federal fiscal policy,” Mr. Bernanke said … “The risks remain that tight federal fiscal policy will restrain economic growth over the next few quarters by more than we currently expect, or that the debate concerning other fiscal policy issues, such as the status of the debt ceiling, will evolve in a way that could hamper the recovery,” he said.”

    Government not for the people. And so it goes.

  2. willid3 says:

    hm. remember that pipeline that burst in Arkansas earlier this year? seems like the pipeline was vintage 1940s construction (and there are a lot more of them out there). they can be safe, but it requires more maintenance and monitoring than newer construction. but it seems like that isn’t being dont

    and if Exxon isn’t doing that, care to guess whether any o fthe others are?

  3. nofoulsontheplayground says:

    The article infers that Ikea actually owns land in China, and this is not true. In China, you buy the use of the land for a term of 70-years. The government still owns the land the structure is built upon. Neither Ikea, nor any other non-government entity, owns land in China.

    Most who enter into agreements to purchase the land use in China assume the law will eventually be modified to allow private ownership and grandfather in people who have previously purchased land use. However, I know people who have been waiting 20-years for this, and nothing has happened yet.

    In China, when you buy the land use, everyone calls it a land purchase.

  4. jasong609 says:

    Signs of a Market Top? I seem to remember reading something on The Big Picture a while back about the correlation between new skyscraper constructs and Market Tops…


    WSJ – Skyscraper Builders Reach for the Stars Once Again

  5. Internet Tourettes says:

    From Bloomberg. The comments are priceless….

    Cordray’s Confirmation Unleashes U.S. Consumer Bureau Powers

    “Republican senators refused for more than two years to permit a confirmation vote on Cordray, demanding that the bureau be restructured in ways that would reduce the director’s power and place congressional controls over the agency’s budget.

    “They don’t like the fact that this first-ever financial watchdog with the explicit mission of protecting consumers instead of bankers is doing exactly what it is supposed to,” said Lisa Donner, executive director of Americans for Financial Reform…”

  6. willid3 says:

    no need to worry about that income disparity thing so says a Chinese billionaire. oddly enought several US billionaires seem to agree with him.

    and looking at that chart, seems like we are just behind China in that disparity

  7. rd says:

    This regulatory approach would certainly reduce the number of credit cards and pay-day lenders:

  8. S Brennan says:

    Mort Zuckerman effortlessly dovetails welcome truth with a dash of idiocy. While his point on “anemic growth is all we have to show for the greatest fiscal and monetary stimuli in 75 years” is welcome critisism. And while I agree Obamacare is malfeasance writ large and is anything but reform.

    However, his curative is more DC/Wall Street snake oil:

    “This means preparing a skilled workforce, especially engineers suitable to work in manufacturing, and increasing the number of visas available to foreign graduate students in the hard sciences”

    We already produce twice as many engineers as we employ. That’s right, about 50% of engineering graduates will not find a job in a STEM profession. Unemployment in STEM fields is approximately triple what it was 15 years ago.

    We need an INDUSTRIAL POLICY and an INFRASTRUCTURE POLICY that employs the people wasting away, NOT MORE WORKERS, at any educational level.

    To start, we need honest book-keeping, no more “tax credits” which are subsidies to capitol that disappear from the budget…never to be heard of again, direct subsidies to worthwhile enterprises show up on the budget every year to be scrutinized by all.