My morning reads:

• Finance set to surpass tech as most-profitable U.S. industry (USA Today)
• China Wealth Eludes Foreigners as Stocks Earn 1% in 20 Years (Bloomberg)
• Why It’s Time to Pay Attention to Europe Again (iShares)
• If the US economic recovery keeps its present pace, goldbugs and miners can expect bad news (Telegraph) see also Unbelievable investor letters like this are why people think gold bugs are stupid (Behavioral Macro)
• The Big Backlash against hedge funds  (The Reformed Broker)
• Time To Move On From the Taper Tantrums (Tim Duy’s Fed Watch) see also Bernanke Boom Signaled by Yield Surge as Market Recalculates (Bloomberg)
Its not just the USA: Ailing Infrastructure: Scrimping Threatens Germany’s Future (Spiegel) see also Rising interest rates could mean the window to fix infrastructure on the cheap is closing (Washington Post)
• To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Domain (The Nation)
• Disruptions: Hollywood, or Silicon Valley: Where’s the Money? (Bits)
• The PC Market Isn’t Dead Yet, but It’s Barely Breathing (Barron’s)

What are you reading?

 

Tame Inflation Also Has Some Drawbacks
Chart
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.

6 Responses to “10 Monday AM Reads”

  1. Petey Wheatstraw says:

    “Finance set to surpass tech as most-profitable U.S. industry”
    _______________________

    Industry?

    in·dus·try noun \ˈin-(ˌ)dəs-trē\
    plural in·dus·tries
    Definition of INDUSTRY

    1
    : diligence in an employment or pursuit; especially : steady or habitual effort
    2
    a : systematic labor especially for some useful purpose or the creation of something of value
    b : a department or branch of a craft, art, business, or manufacture; especially : one that employs a large personnel and capital especially in manufacturing
    c : a distinct group of productive or profit-making enterprises
    _________________

    I dispute ‘c’, on the grounds that the financial “industry” is not actually “productive.” Profitable? Yes, in the sense that robbery is profitable. An “industry?” No. Even less so than flipping burgers.

  2. PeterR says:

    Boeing 787 Dreamliner fire in London last week may have been caused by a smaller lithium-manganese battery for the emergency location transmitter:

    http://www.nytimes.com/2013/07/16/business/inquiry-into-787-fire-said-to-focus-on-transmitter.html?src=twrhp

  3. evelyn says:

    Re Taper Tantrums. Behavioral science predicts an “extinction burst” when an effort is made to change behavior. People resist. The resistance is insurmountable if the change is expected to happen rapidly. To exit Fed bond purchases effectively, Bernanke and the FED need to plan on taking at least as long to get out of the purchases as they have spent making them. It has to go so slowly the market essential says, “So what?” “Tell me some real news.”