My afternoon train reading:

• The Unofficial Dividend.com Guide To Being An Investor (Dividend.com)
• 10 Terms Investment Pros Use to Raise Money (The Reformed Broker)
• The Shocking Cost to Taxpayers of a Shutdown (Fiscal Times)
• 10 surprising economic trends that rule the world (Quartz)
• Fed Too Familiar With Lost Workers Seeks New Guideposts: Economy (Bloomberg) see also Janet Yellen record gives pointer to Fed policy if Obama picks her as chair (FT.com)
• How Tighter Mortgage Standards Are Holding Back the Recovery (WSJ)
• Invest in whatever Wall Street hates (MarketWatch)
• Who Should Invest in Startups? (Priceonomics)
• How I botched it on CNBC (Salon)
• Survival After Cancer Diagnosis Strongly Associated With Governments Spending On Health Care (Science Daily)

What are you reading?

 

9.30.13 Index

Source: Bloomberg

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.

8 Responses to “10 Monday PM Reads”

  1. rd says:

    This is big news. Obama believes that he does not have authority to raise the debt ceiling unilaterally and that Congress needs to do it:

    http://www.marketwatch.com/story/obama-cannot-raise-debt-ceiling-alone-carney-2013-09-30?dist=tbeforebell

    He has basically disarmed himself three weeks before that crisis hits and simply left the country up to the mercy of Congress.

  2. rd says:

    I read this op-ed opinion in the WSJ and said “Yeah!!” Then I realized that this writer was actually serious that only 17%, instead of 28%, of Harard grads choosing to work in the financial sector was a bad thing.
    http://online.wsj.com/article/SB10001424127887323623304579059592494840128.html?mod=ITP_opinion_0

    One of my key measures on when the Great Repression will be done is when the financial sector has shrunk to 50% or less of its 2007 size. That will be an indication that the rentier sector of the economy has been dramatically reduced to acceptable proportions and that the finance sector is now focused on its society-enhancing instead of society-destroying functions. Part of that reduction is obviously hiring fewer of the best and brightest, instead encouraging them to go into other productive sectors like Silicon Valley, industrial revitalization, agricultural prgress, science research etc. Innovation in those sectors have really advanced the cause of mankind. Financial innovation, not so much. Do we really need 9,000 hedge funds and lots of London Whale traders and Fabulous Fabs?

  3. rd says:

    This week’s reading from Revelations. It exhibits a fundamental lack of understanding of how big the world is, how much development has occurred in dangerous places, and the impacts of modern communication:

    http://www.marketwatch.com/story/warning-100-year-climate-disasters-every-100-days-2013-09-25?Link=obnetwork

    The biggest single reason that climate disasters are causing much bigger damage on a cost basis is because we have decided to build much more in locations that get climate disasters:

    http://www.businesswire.com/news/home/20120821005451/en/Karen-Clark-Company-Issues-Report-Historical-Hurricanes

    One of the primary reasons that we are seeing and hearing about more natural disasters is that we can. The world’s population density is higher, there is less government suppression of information around the world, people are now connected in virtually every corner of the world, and audio/video can be streamed immediately. We are therefore awash in information from places, in North America, and elsewhere that we would never have gotten any information from several decades ago, never mind two centuries ago. They could have had massive disasters in those places in the past and we would never have known.

    The world is a really, really big place. Most disasters hit a few 10s or hundreds of square miles. At that scale, statistically one would expect to have numerous 100-year events occuring planet-wide each year. It is also important to understand how these events get measured. For example, flood stages are usually measured by the elevation the water rises to; however, this is not an accurate measure of the frequency compared to past events if levees have been constructed and flood storage and river cross-section have been reduced. In those cases, a given flow rate fo water will result in increased elevations making it look much worse than before, even thought the quantity of water is the same.

    This is not climate change denial. This is simply separating out causes and effects. Much of the damage is occuring due to building in places that have been impacted by disasters in the past but weren’t occupied then. Similarly, we do other development or activities that can worsen events when they occur. These include building pollution-emitting facilities ranging from household septic systems to refineries in locations that can cause releases during normal or disaster conditions, weakiening the eco-system locally. Forest fire suppression has similar effects by causing much worst fires when they do occur.

  4. VennData says:

    Jimmy Kimmel Asks Pedestrians If They Prefer Obamacare Or The Affordable Care Act

    http://www.huffingtonpost.com/2013/10/01/jimmy-kimmel-obamacare-prank_n_4022424.html