My morning reading:

• Notes from the Bloomberg Markets 50 Summit, Afternoon Session (The Reformed Broker)
• Chinese Cities Hooked on Land Revenue Fuel Housing Costs (Bloomberg) but see Chanos Undeterred by China Growth as O’Neill Bullish (Bloomberg)
• Pension Funds Keep Chasing High Returns (The American Interest)
• How Bad Data Warped Everything We Thought We Knew About the Jobs Recovery (Atlantic) see also Ignorance and bias in economic models (Antonio Fatas on the Global Economy)
• Nate Silver on Finding a Mentor, Teaching Yourself Statistics, and Not Settling in Your Career (Harvard Business Review)
• JPMorgan negotiating multi-billion-dollar settlement with Justice Department (Washington Post) see also JP Morgan’s Beached Whale (U.S. News)
• WSJ buries the lead deep on AIG’s CEO (Columbia Journalism Review)
• Facebook’s status among investors and analysts changes: It’s a darling (Los Angeles Times)
• Teardown Shows iPhone 5S Costs at Least $199 to Build, $173 for the 5C (All Things D)
• Why We Should Choose Science over Beliefs (Scientific American)

What are you reading?

 

Cashing Out After Post-Fed Rally
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.

13 Responses to “10 Mid-Week AM Reads”

  1. Moe says:

    Regarding Cruz:
    We really need to stop electing people that are so in need of attention (the Palin-ification of politics) and elect people who have a desire to get things done.

    This is yet another waste of tax-payer $$$ – there’s no filibuster or vote-stopping in the Senate, so what’s he doing? He’s got no alternative plan to discuss… He’s pandering and getting LOTS of press and that’s about it.

    I’ve got an alternative for him…
    We really need to stop electing people that are so in need of attention (the Palin-ification of politics) and elect people who have a desire to get things done.

    This is yet another waste of tax-payer $$$ – there’s no filibuster or vote-stopping in the Senate, so what’s he doing? He’s got no alternative plan to discuss! He’s pandering to his base and getting LOTS of press and that’s about it.

    Seuss’s revenge:
    http://i1185.photobucket.com/albums/z359/Bennt22564/grren.jpg

    • DeDude says:

      Yes if that clown had spend his time laying out the exact “alternative” he wanted to replace Obamacare with – then you could have had some respect for him. Unfortunately all we are getting form him and GOP is that they just don’t want poor and sick people to be able to get health insurance.

      Even if he had spend the time presenting a plan it was the wrong time to do something like that, but he would have been engaged in trying to get attention to an alternative plan. As done he was just trying to get attention to himself, at the cost of his country – despicable.

  2. hue says:

    She Blinded Me With Comments: ‘Popular Science’ Shuts Comments, Citing Internet Trolls (npr)

    Yank Tanks Roll Into England (NYTimes) The classic American car scene is growing, on the streets and on the track.

    World’s Strangest Vehicles, Part 3: Wild Cars
    (Dark Roasted Blend)

  3. rd says:

    A sure-fire wa to end any government shutdown – take away the law-makers and their staff’s government issued cell phones: http://money.cnn.com/2013/09/25/technology/mobile/federal-shutdown-blackberry-phone/index.html?source=cnn_bin

    Furloughed government workers are banned by law from even checking their work e-mail, so lawmakers who refuse to do their jobs should get the same treatment of having their cell phones and laptops taken away.

    • ilsm says:

      @rd,

      A lot of fluff, how the US spends half the world’s military money.

      Ban on doing things during the recent furlough was a “rule”. The ‘tit for tat’ in the furlough was the agencies would meet their work ‘paltry’ requirements with the extra days off.

      Obviously, federal manpower paid with discretionary spending is at least 40% fluff, then add in extra fluff in services contractors filling desks on the furlough days.

  4. farmera1 says:

    We should reward the 1%ers by thanking them for their service to the country and rewarding them by exempting them from taxation.

    http://www.businessinsider.com/ayn-rand-is-ruining-the-american-economy-2013-9

    • rd says:

      I have been appalled at the way job-creators like Richard Fuld have been pilloried in the press. It is astonishing to me that people like him are actually forced to pay taxes given the massive benificence that they rain down upon all of their workers and customers. Just think of all of the additional benefits to society they could have brought us if they didn’t pay taxes – just another golden opportunity to help the poor that has been egregiously wasted by the Democrats.

  5. farmera1 says:

    I’ve also got this feeling the Pope will be an interesting person as he calls to task the worship of a god called money.

    http://www.businessinsider.com/the-pope-says-the-world-worships-a-god-called-money-2013-9

    Maybe the Pope can actually become a moral leader to the world.

    • rd says:

      Not professing love of money is very simple when you have the Vatican’s balance sheet.

      Irony aside, I think this pope is a breath of fresh air. I have no idea how he got elected.

  6. willid3 says:

    i guess it took a while. but some banksters are in a little bit of hot water
    http://www.reuters.com/article/2013/09/24/us-wellsfargo-lawsuit-mortgage-fraud-idUSBRE98N0WT20130924?feedType=RSS&feedName=PersonalFinance

    but of course for some this is just another sign of how socialistic our country has become. and we can’t mention that class warfare it represents either.

  7. willid3 says:

    more signs or socialism, protecting old people (those with or with out dementia) from ‘sharks’ is just wrong. we have to take pity on the sharks, because they create jobs, they mustn’t be encumbered ! and we cant burden banks to watch over them! after all, they are working with the sharks to create jobs!

    http://www.reuters.com/article/2013/09/24/us-financial-regulation-older-idUSBRE98N0V920130924?feedType=RSS&feedName=PersonalFinance

  8. rd says:

    The debt ceiling can create an unusual constitutional argument if Obama decides to invoke the 14th amendment and increase the debt ceiling himself without Congress. His legal argument would likely be that Congress already authorized the expenditures and so further action would not be necessary to actually pay for them as the Constitution requires that the validity of US debt never be questioned.

    http://blogs.marketwatch.com/capitolreport/2013/09/25/if-all-else-fails-obama-will-raise-debt-ceiling-himself-analyst/

    • RW says:

      In the previous debt ceiling standoff the Obama administration made it pretty clear they were not going to either invoke the 14th Amendment or exercise the right of the Treasury to issue currency including a trillion dollar coin.

      There seem to be various shorter-term dodges Treasury could use including issuing IOU’s that the Fed would buy but none of the dodges I’ve heard of seem likely to prevent a markdown in US creditworthiness with a plunge in the US dollar to match.