My morning reads:

• How to Trick Your Brain Into Banishing Bad Money Habits (Lifehacker)
• Why Are Google Employees So Disloyal? (Ticker)
• It’s Still Henry Ford’s World (Bloomberg)
• Why are some pundits and economists still enamored of austerity? (Los Angeles Review of Books)
• How much capital should banks have? (Vox)
• China Is Set to Suffer the Skyscraper Curse (Bloomberg) see also China eyes fresh stimulus as economy stalls (Telegraph)
• Fear of a Female Fed Chief? (Daily Intelligencer)
• 15 Charts That Should Terrify Saudi Arabia (Business Insider)
• The Startup Crowd Is Becoming an Actual Cult (Valley Wag)
• Peter Schiff Gets Owned On Kudlow on Inflation (Business Insider)

What are you reading?


Want to Know How Abysmal Larry Summers Would be as Fed Chair?
Source: IKN

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.

14 Responses to “10 Tuesday AM Reads”

  1. Petey Wheatstraw says:

    RE: The SPDR chart:

    Now I have mixed feelings about Summers. Nothing will fix a dangerous structure better than one last whack with a wrecking ball. Let him have at it.

    Also interesting that the useless, barbarous, stupid, shiny yellow metal reacts, in any way, to news of who might drive the fiat dollar machine.

    The recent news surrounding the repatriation of gold between central banks is a red flag, if ever there was one.


  2. tradeking13 says:

    ACHUTHAN: The Recession Began Last Year (Business Insider)

    • VennData says:

      Where are the Achuthan lovers now?

      In the under-performance ward of the local gov’t-financed health care facility.

  3. Bob is still unemployed   says:

    As the vehicles we use become more laden with computers, they will start becoming the target of hackers. Two recent occurrences, both demonstrations rather than real hacking attempts, show the extent of what may become a significant issue.

    College students hijack $80 million yacht with GPS signal spoofing – A team of university students have demonstrated that it is possible to subvert global positioning system navigation signals to pilot a superyacht without tripping alarms.

    Hackers Reveal Nasty New Car Attacks–With Me Behind The Wheel – Stomping on the brakes of a 3,500-pound Ford Escape that refuses to stop–or even slow down–produces a unique feeling of anxiety. In this case it also produces a deep groaning sound, like an angry water buffalo bellowing somewhere under the SUV’s chassis. The more I pound the pedal, the louder the groan gets–along with the delighted cackling of the two hackers sitting behind me in the backseat.

  4. RW says:

    Lest we forget: The government is still practicing austerity (and we are paying for it in slower economic growth) and people with guns continue to make mistakes with them and the economic costs are not trivial.

    Sequester Watch, #15

    Macro and micro this week, in terms of ongoing damage from sequestration. The CBO estimates that if you canceled it now, we’d add another 900,000 jobs over the next year (they also say that unless we later offset the higher deficit, later growth would be slower).

    Then there’s the loss of public defenders and public housing. This kind of thing hits the poor, of course …


    Just your basic, routine week of 40+ accidental shootings and other gun mishaps. …

    …there was yet another case of the mistaken identification of a family member as an intruder this week, resulting in a man shooting his daughter in the eye.

    The child victims of GunFAIL this week are ages 3, 4, 6, 6, 8, 9, 9, 15 and 17, and includes yet another case of a pre-school-aged boy shooting his sister …

    “Whom Fortune wishes to destroy she first makes mad.” -Publilius Syrus

  5. VennData says:

    Obama Offers to Cut Corporate Tax Rate as Part of Jobs Deal

    If the corporations who used to control the GOP can’t get them to deliver on Immigration, what on earth makes the Democrats think that they will get the nativists running the House to support GDP-increasing infrastructure spending in exchange for a more efficient tax code when the corporations have to give up the pet loopholes they’ve spent so many lobbying dollars to get? The lobbyists themselves don’t want their “works of art” destroyed. That would negate their reason for being.

    We must stop Obama! We must burn the ViIllage to save it! We must pin the deficit ceiling talks on Obama! Bengazi! He’s just making another speech! HALF THE COUNTRY LIVES ON WELFARE… IMPEACH!!! and other nuttiness.

  6. Willy2 says:

    - Yes, there’s inflation, look at the stockmarket since 2009.
    - Schiff doesn’t know the difference between monetizing debt & (literally) printing money. But perhaps Hyper-Inflation will occur AFTER the next deflationary leg of the financial crisis.

  7. NoKidding says:

    Austerity is another word people use without defining. Maybe it is stupid. First define it in measurable terms.

    Is it a reduction is spending versus an immaginary increase?
    Is it a reduction is spending versus a forward projection of last years increase?
    Is it no spending increase at all?
    Is it a reduction in spending?
    Is it a reduction in spending greater than some namable metric?

    Then, having defined it, select an example. Has anyone actually met the definition?

    Did something bad happento them?
    Would something bad have happened to them anyway?

  8. willid3 says:

    usually to get real life inflation, you used to have to have wages going up. but we haven’t done that in what 30 or so years? we had sort of papered over that with easy credit. but people have been burned by that, so thats not coming back soon (and companies/banks and others seem to also not be enamored any more of it either). so when the economy is demand constrained (since wages are down, and almost all consumers are employees, that makes demand fall, relative to the size of production, which leads to job loss, and business losses). what many see as rising inflation, is that their incomes are down, either having not even matched the low inflation rate , so they fall further behind, or the incomes were actually cut (in many cases it could actually be both). and business with falling or stagnant sales (all one has to do is look at sales to see that. profit is up only because they cut labor costs, not because they are selling more. so lower sales leads to fewer jobs, and lower paid ones too. doesnt lead to any investments as none are needed). not sure that we will see hyper inflation anytime soon. we are too captured by deflation, what with 99% having lower incomes, leading falling demand. and the only way for business to increase their prices is to shrink the product, but sell it for the same price. or by adding fees (ala airlines and banks and others). .

  9. willid3 says:

    drat business being held responsible for what it did is just wrong! Un american even!

  10. Widgetmaker says:

    Schiff’s argument was about as ludicrous as it gets. “An increase in the money supply = inflation”. Um, no. Inflation is when the things I buy get more expensive, a rise in the general price level (and for all you Shadowstat acolytes look into MIT’s Billion Prices Project). That is remedial. Why this man has such a loud voice in the economic debate is beyond me. He doesn’t belong in an adult conversation regarding the economy. I guess the media like’s to trot him out because he makes for good TV.