My surprisingly WaPo-heavy Friday reads to finish up your week:

• Is bullish stock market story about to change? (USAToday) see also That’s what’s up. (The Reformed Broker)
• Better bonds could make retirement easier (Washington Post)
• Grim Picture of Recovery in Forecasts by Retailers (NYT) see also Spring retail sales tell a tale of two shoppers (Washington Post)
• The Shocking Stats About Who’s Really Starting Companies In America (Fast Company)
• NSA broke privacy rules thousands of times per year, audit finds (Washington Post) see also Booz Allen Keeps Winning Government Security Contracts After Snowden Leak (Daily Beast)
• Engine: The History of a Concept, From 14th-Century Poetry to Google (Atlantic)
• Some Economic Implications of Global Climate Change (Econbrowser) see also Is Climate Change America’s new $60 trillion enemy? (MarketWatch)
• The App Store Rainbow (stratechery)
• Republicans’ big problem with crazy (The Guardian) see also New Conservative Plan: Repeal Obamacare or We’ll Default on the National Debt (Slate)
Morford: Who’s afraid of a little sodomy? (SFGate)

Whats up for the weekend?

 

Apple still sells more computers than anybody else (Lenovo is close 2nd)
pc-tablet-vendors-rev
Source: Source: Cite World

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.

21 Responses to “10 Friday AM Reads”

  1. theexpertisin says:

    Better bonds article.

    Having a calibrated retirement bond available only to retirees of a certain age (65?) as discussed by the author is a sterling idea.The past five years of the Fed waging war upon retirees, trying to live off interest from high investment grade bonds, to finance multi-trillion dollar government debt practically interest free needs to end.

    This type of bond would be a just reparation for five years of hell.

    • mrthinks says:

      I too like the idea. I would put my million dollars into a bond that would fluctuate a bit on interest and not lose principal value. All I need is my million dollars…

      The fluctuation on interest would be the issue, though. If I’m to live on the interest, I’d like to know the range I am looking at…

      • NoKidding says:

        Just what interest rate are you expecting to dee? Better get hold of a few more millions.

        Sounds to me like either an attempt to defeat the time value of money with regulations, or a scheme to transfer income from the young to the old.

        If we’re going to have the government steal returns from the under 65 crowd, lets just call it income tax, which it is, cut out all of the glass-building middle management skimmers, and add a few more borrowed dollars to social security checks..

  2. drveen says:

    Regarding the PC/Tablet sales: ok, as far as it goes. Now add in _server_ sales from HP and Dell.

    • willid3 says:

      the server market is also in trouble. seems that a lot of companies aren’t buying name brand servers any more

  3. overanout says:

    “’ big problem with crazy” The article goes on and on about the crazy fringe Tea Party yet the Republican Party base has been dominated by the South and various rural pockets of conservative religious voters since the mid 80′s. The reality is that large number of Americans reflect Southern and Tea Party political goals that may appear fringe or crazy to MSM writers or Republican political bosses but its time that MSM writers focused less on calling Republican Tea Party ideals fringe and realize that the South and John Birch Society reflect the Republican Political base. The MSM needs to open its eyes to the regional realities and cultural differences that drive our society rather then continuously yearn for a broad base Republican Party that offers little difference with the Democrats other then various old MSM story lines about Big Government vs Unions or other endless political story lines that can be pulled from the files. The MSM should go beyond name calling when it comes to political realities and focus on the our National makeup that has deep cultural and lifestyle regional differences driving political voters.

    • While your comments are true, I must point out that back then, the John Birch society was not running the GOP. Essentially, the modern day version of the John Birch society is who runs the GOP today.

    • Anonymous Jones says:

      overanout’s comment seems to unfairly conflate crazy and fringe. I don’t care if the TP’s ideas are “fringe” or not. They can still be “crazy”. Any student of history can attest that very large numbers of people have believed in things that have proven to be, well, let’s say, not so rational or not so consistent with reality. One need only look at the basic mutual exclusivity of faith in one God or another. Not everyone can be right; thus, a very, very large number of people have devoted their lives to believing in something that is not in any way part of the universe (this one or the next, I guess).

      Also, as an aside, I love the south, and just because there is a (sometimes) slim majority or plurality for what I consider “crazy” counterproductive, self-defeating policies does not mean that some insurmountable cultural difference exists between the regions. FWIW, I think the “crazy” is mostly in the previous generations (just like resistance to tolerance for homosexuals) and it’s going to die away as a major force in the next couple decades. Obviously, major events in the direction of this country and/or its economy affect that prediction. I’ll refund the price of this comment if my prediction goes errant in a spectacular fashion. I remain optimistic that a decent economy and a reasonable mortality rate will cure the worst of what I see as ills. I hope I’m right to be optimistic.

    • willid3 says:

      i saw an article yesterday which basically pointed out that the Tea Party isn’t really a party at all in the normal sense of the term. thats where the party is made of politicians get themselves elected so they get some goal done. and they then find out that they have to compromise to accomplish that goal as they can’t do it all by them selves. well, they dont see that way. and they dont seem able to see that the world has changed since the 1950/60/70s (how many times do you hear about how it was when you were growing up. ex houses. seems like many recall how they got by when they were growing up with what would now be considered a really small house. a total of 900 sq ft, 2 bedroom, a bath, and no garage). so they wonder why we dont go back to that time, they also dont like any change to the way was from back then. nor will they accept any one else view.

    • S Brennan says:

      Large populations in the south are not represented by Congress/Senate/President. Go look at the election results, even the “reddest” state has something like a 43/55 split. Then look at the gerrymandering that both parties partake in. Southerners are far from monolithic, for example, I lived down there when the US was bombing the crap out of Libya, most Southerners thought it was senseless and cruel…but not one of my fellow Yankees thought so. All the Yankees I knew thought stealing Libyan oil by arming a racist Al Qaeda uprising…and then using a massive bombing campaign [25,000 missions/8 mos] when the uprising was being turned back was a good thing. We’all need to stop patting ourselves on the back for our “enlightened” views. When we generalize about a group, we dehumanize them, in this case, we’re dehumanizing our fellow countryman.

      That is one of the many reasons we need the draft back, service gives you common experience [often unpleasant] that forces you to confront your own prejudice. You live in close contact with your fellow citizens who come from different walks of life, different cultures…and different economic strata and we would have a better country if people actually knew something of the people they judge inferior.

      As The Man said; walk a mile in another mans’ shoes before you judge him. That ungainly gate you’re laughing at…might have something to do with the only shoes the man can afford.

  4. > NSA broke privacy rules thousands of times per year, audit finds

    And, AGAIN, this is by way of Snowden, not the administration or lawmakers who repeatedly swore up and down that the necessary safeguards were in place. Meanwhile, one of the supposed key safeguards, the FISC court, is now saying that it must rely on the government’s trustworthiness in order for it to provide the necessary oversight.

    We should have “stupid” stamped on our foreheads if we continue to believe these people anymore.

    “In June, after promising to explain the NSA’s record in ‘as transparent a way as we possibly can,’ Deputy Attorney General James Cole described extensive safeguards and oversight that keep the agency in check. ‘Every now and then, there may be a mistake,’ Cole said in congressional testimony.”

    “The leader of the secret court that is supposed to provide critical oversight of the government’s vast spying programs said that its ability do so is limited and that it must trust the government to report when it improperly spies on Americans.”

    Court: Ability to police U.S. spying program limited (WAPO)

    http://goo.gl/UCo9Xh

  5. Gnov says:

    Great opening to how much the world has changed and where economics as a Science stands. I recall Barry put something out on how incredibly inaccurate economist have been as it relates to the direction of interest rates specifically the 10-year.

    http://www.forbes.com/sites/louiswoodhill/2013/08/14/america-doesnt-need-monetary-policy-and-it-doesnt-need-economists/

  6. Mike in Nola says:

    And add up all those bars to the right of Apple, none whom sells an Apple product. Lotsa tablets and not many pc’s in Apple’s bar.

  7. willid3 says:

    think that you only have to worry about the government snooping on you? think again.
    there are companies that know as much about you or more than they do.
    http://www.washingtonpost.com/opinions/demanding-transparency-from-data-brokers/2013/08/15/00609680-0382-11e3-9259-e2aafe5a5f84_story.html

    and you know nothing about them. and there are no rules at about how they do their business. even those that you do know of (those credit agencies) have very little in the way of rules in how they act, in fact it seems like the only rules about them are the ones that restrict you, not them

  8. mrthinks says:

    I have to wonder if the whole ‘shut down the government’ and tea party stuff is a cover for something. It seems to me they are making the most noise about the stragest things and causing the most trouble. I have to wonder, are they a distraction? The government shutdown stuff was a waste of time, the House does nothing, the government is prettymuch useless…

    Since a lot of the ‘right wing’ I hear about is obsessed with conspracy, and I have seen numerous mentionings that there are ‘people in control’ (banks, illuminati, Elmo) I have to wonder if the ‘controllers’ are doing this or are just unable to control any longer….

  9. S Brennan says:

    To – The Shocking Stats About Who’s Really Starting Companies In America

    “What do these folks* all have in common? Each of these serial entrepreneurs who founded companies that have market caps in the tens or hundreds of billions–employing tens of thousands of workers–were…”[snip] Brought up in the upper/uppermost strata of their respective societies before they immigrated to the US and were able to capitalize on their advantages in the emerging internet and from the money that flows to Silicon Valley…whose economy was developed entirely with US taxpayer funds and research.

    While the article is an unvarnished emotional appeal for the immigration bill to pass using the “Propaganda Ministry’s official party line [OPL] for “smart people”. OPL 17.07.689 “Americans are now lazy, worthless, scum and deserve all the bad things that we do to them for our own trivial amusement”

    In reality, all these people could have come to our shores under the most restrictive immigration regime imposed by the US…based on their sheer wealth/parents alone. When it comes to immigration, wealthy go where they want, conflating these people with the pending bill is pure sophistry.

    The immigration bill as it stands is a vote to increase by 4X’s the indentured STEM workers used to replace Americans entering their late 30 thru 50′s. Remembering, that about half of all US engineering grads never even get their first STEM job, it’s already a flooded labor market. Plus, the bill contains a guest worker provision to undercut the wages of those illegal’s who will be given amnesty. In short, one more effort by DC to undercut the wages of Americans…disparity of wealth comes from policies like this.

    So what they really have in common isn’t emigration, but contacts, capitol, best educations and that they located to the wealthiest area of the US with these societal advantages…and did well. The article then asks us to ignore these facts, [actually, they fail to mention them] and instead we are asked to believe that there just “something special” about immigrants. We swim in a sea of propaganda.

    *Sergey Brin, Pierre Omidyar, Elon Musk, Peter Weijmarshausen, Iqram Magdon-Ismail

  10. WFTA says:

    Everything You Think You Know About Government Fraud Is Wrong

    http://www.theatlantic.com/politics/archive/2013/08/everything-you-think-you-know-about-government-fraud-is-wrong/278690/

    My two cents on the “crazy:” The GOP bought the old Confederacy and now there is nobody they can sell it back to. They pandered to racists until there is nothing left but racism and a lower capital gains tax. An apt and thoroughly ironical analogy is Uncle Remus’s Tar Baby.

    Have a swell weekend.

  11. robertso2020 says:

    I’m not a bond expert wouldn’t the Gov’t be on the hook for the loss in principal? that could result in billions of losses.

  12. VennData says:

    I say let the GOP default on the national debt.

  13. rd says:

    The funniest moment in GOP politics of the past decade may be looming as Republicans may nominate a foreign-born Cuban-Canadian to be President:

    http://www.thedailybeast.com/articles/2013/08/16/ted-cruz-s-candidacy-would-be-awkward-for-birthers.html

    From Wikipedia:
    Cruz was born in Calgary, Alberta, Canada, where his parents, Eleanor Darragh and Rafael Cruz, were working in the oil business.

    Cruz’s father, Rafael Cruz, was jailed and tortured by the Fulgencio Batista regime and fought for Fidel Castro in the Cuban Revolution but “didn’t know Castro was a Communist” and later became a staunch critic of Castro when “the rebel leader took control and began seizing private property and suppressing dissent.” The elder Cruz fled to America in 1957 to study at the University of Texas, knowing no English and with only $100 sewn into his underwear. His younger sister fought in the counter-revolution and was tortured by the new regime.] He remained regretful for his early support of Castro, and emphatically conveyed this remorse to his young son over the following years. The elder Cruz worked his way through school as a dishwasher making 50 cents an hour.] Cruz’s father today is a pastor in North Dallas and became a U.S. citizen in 2005.

    Cruz’ mother was born and raised in Delaware, in a family of Irish and Italian descent. She was the first person in her family to attend college. She earned a degree in mathematics from Rice University in Houston in the 1950s, working summers at Foley’s and Shell. Cruz has said, “I’m Cuban, Irish, and Italian, and yet somehow I ended up Southern Baptist.”