Good Monday morning! Good to be back in the sadlle — here is what I am reading:

• Fed buys itself some time in push to wind down stimulus (Reuters) see also Ben Bernanke: Man of Mystery (Moneybeat)
• On the Inverse Correlation between Expected Risk and Return (Falkenblog)
• Why Are America’s Great Value Managers Hoarding Cash? (The Reformed Broker) see also Cash Is Trash? Not To These Value Fund Managers (Bloomberg)
• An Extra Data Point on ETFs* (WSJ)
• Budget Bedlam This Fall (Capital Gains and Games)
• Toyota $37 Billion Cash Program Shows Effect of Abenomics (Bloomberg) see also US should support a trade deal with Japan (FT.com)
• The Pay is too Damn Low (The New Yorker)
• G.O.P. Governors Warn Party Members in Congress Not to Shut Government (NYT)
• Veto of Apple Ruling Likely to Upend Big Patent Battles (WSJ)
• How low-paid workers at ‘click farms’ create appearance of online popularity (theguardian)

What are you reading?

 
Get Ready for the Next Round of Bond Pain

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.

14 Responses to “10 Monday AM Reads”

  1. Bob is still unemployed   says:

    Sometimes, as I browse through my morning repertoire of websites, I just have to shake my head in disbelief. This morning’s story that elicited that twitch was about LinkedIn.

    It appears that “Linkedin [was] accused of sexism after removing ads featuring female web developers. They were too attractive to be real engineers, social network claimed.”

  2. osheth says:

    For those who insist that substance, not image, is what really matters: Three hundred aphorisms for making one’s way in the world and achieving distinction.

    http://www.farnamstreetblog.com/2013/08/the-art-of-worldly-wisdom/

  3. VennData says:

    Rand Paul on protecting his pork and criticizing co-GOP conspirator Christie:

    “This is the king of bacon talking about bacon,” he said incredulously during an interview on CNN’s “The Situation Room.” He clarified: “You know, we have two military bases in Kentucky. What does he want to do, shut down military bases in Kentucky?”

    http://www.cnn.com/2013/08/05/opinion/navarrette-gop-factions-fight/index.html

    YES! Close down the fucking bases in Kentucky! What the fuck do we have military bases in Kentucky for?

    I’ll tell you why, to have a little pork from the military for every Congressman, that’s why. And you Chicken hawks know this, yet you still vote GOP.

    • peggysue says:

      Harry Truman made his name by chairing senate hearings on fraud, waste, etc during WWII.
      Because of this FDR picked him as veep candidate in 44.

      My experience both in and as vendor to military over 35 yrs showed a military swimming in pork. To be fair about it, very high per cent was enabled by congress bringing home bacon to the districts.

      This goes back to civil war and probably to revolution. Not to worry, it is only money!

      Peggy

  4. Singmaster says:

    Oseth. Thanks. Bought it.
    BTW, loads of HBs for $4 on Amazon.

  5. WallaWalla says:

    “Air-Rail Connectivity: The Government Accountability Office (GAO) has released a report that explores the factors influencing airport-passenger rail connectivity. GAO found that 21 of the nation’s 60 large and medium hub airports are located within 5 miles of Amtrak stations, with only 2 airports collocated with intercity rail stations. While air-rail connectivity can provide a range of mobility benefits for travelers as well as economic and environmental benefits, GAO finds that the financial costs of building the connections can be significant, thereby limiting the number of locations where the benefits justify the costs. In addition, GAO finds that the limited nature (frequency, intermodal connections) of existing intercity passenger rail service and a lack of a dedicated source of funding for air-projects are an obstacle to the development of air-rail connections.” – CONEG Congress Update

    http://www.gao.gov/products/GAO-13-691

  6. howardoark says:

    Close Fort Knox? Are you out of your mind? Do you know how many people would have to be in on the “all the gold is still in the vault” conspiracy if you did that?

  7. VennData says:

    Egypt’s Brotherhood rejects appeal to ‘swallow reality’

    http://www.reuters.com/article/2013/08/05/us-egypt-protests-idUSBRE9710IF20130805

    More right wingers rejecting reality​.

    Their voting really messed up Egypt. But don’t be jealous GOP loons, you did the same to our House.

  8. Willy2 says:

    Benny B.(ernanke) started talking about “Tapering” when he noticed that rates were going higher, too fast. He wanted to defend/uphold the illusion that the FED is in control of rates. And the FED isn’t. Mr. Market determines rates. But all the pundits thought that this “Taper-talk” was precisely the reason why rates went higher.

  9. Robert M says:

    Why Bernakke wants out; no amount of QE will cure this reality;

    “Still, the reason this has become a big political issue is not that the jobs have changed; it’s that the people doing the jobs have. Historically, low-wage work tended to be done either by the young or by women looking for part-time jobs to supplement family income. As the historian Bethany Moreton has shown, Walmart in its early days sought explicitly to hire underemployed married women. Fast-food workforces, meanwhile, were dominated by teen-agers. Now, though, plenty of family breadwinners are stuck in these jobs. That’s because, over the past three decades, the U.S. economy has done a poor job of creating good middle-class jobs; five of the six fastest-growing job categories today pay less than the median wage. That’s why, as a recent study by the economists John Schmitt and Janelle Jones has shown, low-wage workers are older and better educated than ever. More important, more of them are relying on their paychecks not for pin money or to pay for Friday-night dates but, rather, to support families. Forty years ago, there was no expectation that fast-food or discount-retail jobs would provide a living wage, because these were not jobs that, in the main, adult heads of household did. Today, low-wage workers provide forty-six per cent of their family’s income. It is that change which is driving the demand for higher pay.”

    From your morning read, http://www.newyorker.com/talk/financial/2013/08/12/130812ta_talk_surowiecki