My afternoon train reading:

• “It’s nice when you can control your own destiny” (The Reformed Broker)
• Further Ossification of the Zero Lower Bound? (Macro and Other Market Musings) see also Has the Fed Been Fooled by Phony Jobs Numbers? (The Ticker)
• After the Meltdown (Center for Public Integrity)
• This Selfish Ayn Rand Business Philosophy Is Ruining The US Economy  (Business Insider)
• Asset Allocation for Muppets with a 401(k) (25iq) see also 401(k)s are replacing pensions. That’s making inequality worse. (Wonkblog)
• Apple Market Share: Facts and Psychology (Monday Note)
• Banks find appalling new way to cheat homeowners (Salon) see also Is JP Morgan Out of Control? (The Reformed Broker)
• The Bullshit Police (The Daily Beast)
• New questions about the Financial Crisis Inquiry Commission (Columbia Journalism Review)
•’Popular Science’ Shuts Comments, Citing Internet ‘Trolls’ (NPR)

What are you reading?


Housing Market’s Flashing Yellow Lights
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.

9 Responses to “10 MidWeek PM Reads”

  1. hue says:

    Disturbed Man Slips Past Senate Security, Gives 21-Hour Speech (Borowitz Report)

    Take Off Hosers: Canadians Don’t Get Cruz, U.S. Health Care Battle (WaPo)

  2. willid3 says:

    political dysfunction driven by ignoring any contrary facts.

  3. RW says:

    Longish and wonkish but well worth the read.

    “But We Must Do the Wrong Thing!”: Understanding the “Economic” Arguments Against Dealing with Global Warming

    The self-deluded who don’t know what they’re doing and the vested interests that fear they would be impoverished when we to do the right thing dealing with global warming are still holding on to their first line of defense: that global warming is not happening. They have, however, built a second line of defense: that global warming was happening until 1995, but then something stopped it, and it will not resume. And behind that is the third line of defense that they are now building which we are here to think about today: that we cannot afford to do the right Pigovian tax-and-bounty thing, for dealing with global warming will cost jobs and incomes.

    This is the fifth policy-relevant case I have seen in recent years of the political right that claims to love the market system denying and abandoning the basic principles that underpin the technocrat judgment that the market system can and often is a wonderful social economic calculation, allocation, and distribution mechanism. It is almost as if their previous advocacy of the technocratic case for the market system was simply a mask for their vested interests. …

    …It is important to recognize what is going on here.

  4. chartist says:

    I live in a northeast suburb of Cincinnati. Housing prices in my neighborhood have eclipsed the old highs. I would say we are 15% higher than the old highs six years ago. Now, Cinci is not one of those markets that soar like the east coast, we just plod along. Some of it is explained by new large companies moving out my way. Eighteen years ago, folks in my area drove 20 miles to downtown. It use to be that everyone wanted to live inside the beltway but now newer homes with upgraded amenities are further away.

  5. farmera1 says:

    Regarding comments on Popular Science. There are people that parrot certain talking points in the comments on specific subjects. I’ve long thought that these folks are talking out their arse. Trolls may be too kind. I’ve wondered how many are getting paid to provide such BS comments. The trolls or worse deserve to be cut off. Wonder how many will loose their pay check.

  6. BuildingCom says:

    There’s a big massive housing price correction that has been avoided. And it’s right in front of us.

  7. grimreaper says:

    Back in the ’70s when I was a happy little English major, I vividly recall the zest with which I digested the Shakespeare, Milton, Chaucer and Dante we were engaged to read in our course studies. A great standout for me was “Inferno,” the money line being the inscription on the gate of Hell, “Abandon all hope, ye who enter here.”

    Regarding Josh’s, “Is J.P. Morgan Out of Control,” I followed the link at the end of the article to Josh Rosner’s report posted on The Big Picture on March 15 of this year, which I somehow originally missed, leading me to the final link, “Thirteen Ways of Looking at a Whale.

    With the additional perusal of “New questions about the Financial Crisis Inquiry Committee,” I have reached the conclusion that, for me, now is the time to abandon all hope. If Dimon and various other crony bank executives cannot be prosecuted on the basis of all the evidence I’ve been reading about since before the onset of the crisis, it is highly doubtful that it will ever happen. Not only have we been had, it will, in all probability, happen again. What good is Sarbox if it is not enforced?

    Although I DO make a wee effort to avoid the always entertaining Zero Hedge, I suspect in the great scheme of things they stand a good chance of being proven correct at some unknowable point in the future, though not for all the reasons they espouse. Yeah, yeah, I know, the market will probably remain insulated from all this, at least for quite a while, and it won’t matter until, as they say, it does. Some of us here, however, are too old to take the risk. I’m out.

    Godspeed to all. And Barry, you’re the best. But I have neither your guts nor your smarts.