My morning reading:

• Beware of the TIME Bull Cartoon? We don’t think so. (Ticker Sense) see also Market Breadth Has Been Bullish (Charts Etc.)
• Can Stocks Hold Up Once Tapering Begins? (Moneybeat)
• Mom’s Buying Munis (Mebane Faber) see also Gundlach – Where to Expect the Next Crisis (Advisor Perspectives)
• The True Size of the Shadow Banking System Revealed (Spoiler: Humongous) (The Physics arXiv Blog)
• Berkshire Billionaire Found With More Shares Than Gates (Bloomberg)
• What to Expect From the Fed Today (Real Time Economics)
• I went to cash because (please check one): (Reformed Broker)
• The iPhone 5S and 5C (Daring Fireball) see also iPhone 5s and 5c arrive Friday: sold out in China, lines in USA and Japan (Slash Gear)
• 5 Better Names for Ritholtz/Brown’s New RIA Firm (Managed Futures)
• Filmmaker bet on financial crisis, used profit to make documentary about Federal Reserve (Washington Post) see also  Review: “Money for Nothing” sets crisis-film high (Reuters)

What are you reading?
Strong Year for IPOs
Chart
Source: Bespoke

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 Mid-Week AM Reads”

  1. farmera1 says:

    Climate Change has increased the value of farm land in North Dakota

    http://www.usatoday.com/story/news/nation/2013/09/17/climate-change-agriculture-crops/2784561/

    Crops like corn and soy beans are migrating north and now are very common in North Dakota. Five years ago you seldom to never saw corn or soy beans in North Dakota. Now they stretch for miles across much of the state. The climate has changed allowing these crops and that has impacted the value of farm land in an unbelievable way. There is much more money to made in planting corn and soy beans versus the cool weather crops of rye, wheat and barley.

    Another fact is that the price of farm land has been increasing unbelievably in North Dakota. Last year the average price across the state increased 41%. This doesn’t happen without the climate changing to allow growing more corn and soy beans.

    http://www.agecon.purdue.edu/extension/pubs/paer/pdf/PAER8_2013.pdf

    See page 11 of the report from PUrdue University for the increases in farm land values across the nation and the increase of farm land value of 41.5% for North Dakota. This is actually a nation wide report on farm land value and rents done by each state but each state uses a different format. From personal experience I can say that North Dakota farm land increased by the referenced 41%.

    The flip side of the increasing ability to grow corn and soy beans in North Dakota is the hotter drier climates in the traditional corn belt. So far it has been a good bet to buy land in North Dakota. Don’t see how this works out well, but it is happening as predicted.

    • rd says:

      The soil in the northern US, Canada, Russia, and northern Europe is only 10,000 years old as it was deposited by the continental ice sheets. As a result, it has not been depleted of nutrients and is very rich. The length of the growing season and low temperatures have been the primary limits on agriculture in these regions. Global warming can make these areas very productive agriculturally.

      Tropical and sub-tropical areas frequently have nutrient-deficient soils due to leaching over millions of years. That is why there is so much slash-and-burn and fertilizer use in those areas as either new unfarmed soil needs to be exposed or else nutrients added to it. Agriculture in some of these reagions is likely to get slammed due to global warming as they are nutrient-poor to start with, higher temperatures will require more irrigation, and some of the areas may end up with drier climates.

  2. VennData says:

    I hate Social Security, Medicare and Veterans benefits. Also, I will only support candidates who use the debt ceiling cudgel to cancel these government programs. And I want an immediate doubling of corporate taxes, high-income tax rates and the complete dissolution of the US military.

    Unless I get my way on all these issues, we’re shutting it down.

    • rd says:

      Just another left-wing liberal Tea Party nutcase.

      You probably also believe that the schools need to teach unintelligent design where the Earth was created in 7 days by a joint team of Richard Nixon and Jimmy Carter.

      • willid3 says:

        really??? col….can we get a redesign done by some one else? they seem to have left a few problems that need addressing.

  3. Bob is still unemployed   says:

    An interesting article on The True Size of the Shadow Banking System Revealed (Spoiler: Humongous)

    “… The shadow banking system is vastly bigger than regulators had thought, say econophysicists who have developed a powerful new way to measure its hidden impact…”

  4. Bob is still unemployed   says:

    An interesting article on The True Size of the Shadow Banking System Revealed (Spoiler: Humongous)

    “… The shadow banking system is vastly bigger than regulators had thought, say econophysicists who have developed a powerful new way to measure its hidden impact…”

  5. VennData says:

    New York Times regrets not having enough engineers

    http://www.xconomy.com/boston/2013/09/18/newspapers-blow-enough-engineers-nyt-publisher-says/

    And Miss America (who’s parents are immigrants) looks to be a scientist.

    http://www.theguardian.com/world/2013/sep/16/miss-america-winner-racist-criticism

    While the Red state produces tatted-up bow-and-arrow shooter, who’s father lived – and continues to live – off the government with his military salary, VA benefits etc… Ironic?

    http://ktla.com/2013/09/15/a-tattooed-miss-kansas-vies-for-national-crown/

    As part of the immigration bill, can we trade the trailer trash for the best and brightest minds in other countries. It would have the benefit of getting rid of the TP’s: Trailer Park & Tea Party.

    Go visit your free market paradise Trailer Parkers, and stay there.

    • rd says:

      There is hope. A “Green Tea Party” is developing at the grass roots in conservative country.

      http://www.thegreenteaparty.com/mission/

      They actually believe in things like cutting off subsidies to big oil and coal to foster more locally produced energy. Apparently, they view local energy independence with solar and bio-fuels as a good way to cut pollution of the water and the air.

      They also support a simplified tax system with relatively low tax rates but enough to pay for infrastructure investment.

      Unfortunately, they sound too sane to cut it in today’s headline and sound bite driven environment.

  6. Chief Tomahawk says:

    Re: Josh Brown’s “I went to cash because”… A.: Condos are a terrible investment.

  7. trafficengineer says:

    Missing option: I went to cash because of the housing bubble popping in 2007. Never got back since then.

  8. VennData says:

    House GOP Ties Government Funding to Health Law

    http://online.wsj.com/article/SB10001424127887324492604579083103349897332.html

    And you thought the 65th time they tried this would be another joke.

    Hahaha, the joke’s on you GOP supporter.

    You keep on with your irrational hatred of Democrats, cause it’s effecting your business now, pal.

  9. slowkarma says:

    WSJ article says the GOP house leadership agrees to bill that will increase the debt limit only if the increase is tied to defunding of Obamacare.

    http://online.wsj.com/article/SB10001424127887324492604579083103349897332.html?mod=WSJ_hpsMIDDLENexttoWhatsNewsSecond

    I have a friend that says the only reason he refuses to characterize the Republicans as batshit crazy is because it’s an insult to both bats and shit. I argue that while it *is* crazy, it’s more stupid than crazy. Crazy you can’t help; stupid does things deliberately and after some consideration. Neither the Senate nor Obama will defund Obamacare, and the Republicans know that, but after weeks of internal debate, they do this anyway. And if the government gets shut down, who will get blamed? The Republicans, of course. I think if they shut down the government, there’s a good chance they’ll lose their House majority — their last thin grip on power. How is it possible to shoot yourself in the foot when everybody, both friend and foe, are telling you that’s what you’re about to do? It seems crazy, but I’m voting for stupid. Just unbelievable.

    • 873450 says:

      It could take a lot more than stupid and crazy for GOP to lose the House.

      Can’t recall where this came from or how it’s calculated, but recently read somewhere that until the next census count after 2020 is factored into the electorate, gerrymandering and vote suppression already successfully lock-in a GOP House majority with just 43% voting GOP.

  10. rd says:

    “Taking into account the extent of federal fiscal retrenchment….”

    I believe that, translated into English, this means “It is the Board’s opinion that the inmates have taken over the asylum on Capital Hill.”

  11. 873450 says:

    Why is this vampire squid smiling?

    http://dealbreaker.com/2013/09/lloyd-blankfein-tickled-pink-over-joining-the-dow/

    Blankfein claims it was a happy surprise last week learning his taxpayer-bailed out TBTF investment bank would be added to the Dow 30 Industrials index just five years after he crashed it into the ground. Watching some other bailed out CEO squirming to negotiate a $750 million civil penalty was icing on the cake.

  12. VennData says:

    Interesting to note that if you bought the day the hard-core eschew-ers of government largess went nuts in unison after the Obama win, you’re up over twenty-five percent (25%.) Grats.

    I guess that’s a good price to pay to fight the hard-core Muslim, Socialist, Immigrant lover feeling the heat in his taxpayer-financed chair which he illegitimately occupies, right?

    Don’t worry, the good thing about the White house is its designed so that if we get a complete idiot in there, than things can be salvaged. Bush proved that.

  13. Willy2 says:

    “Saudi Arabia supplied the nerve/poisoin gas to the rebels in Syria.”

    http://www.boilingfrogspost.com/2013/09/03/the-eyeopener-report-bandar-bush-the-syrian-subversion/