My afternoon train reading:

• How to Track the Economy During A Government Shutdown (Real Time Economics) see also The shutdown and economic data (FT Alphaville)
• What I saw as a Wall Street trader: a culture of bad behaviour (The Guardian)
Today’s Holy S#%t! headline: Apple Now Holds 10% of All Corporate Cash: Moody’s (WSJ) see also Number of the Week: Companies Holding Lots More Cash (Real Time Economics)
• Fixing exorbitant CEO pay: All is not lost (Fortune)
• Why is the Unemployment Rate Declining So Rapidly? (Human Capital Exchange)
• Wall Street to Washington: ‘What, Me Worry?’ (Businessweek)
• The Top Ten Most Gerrymandered Congressional Districts in the United States (PJ Media) see also How Less Than 5% Of The US Population Caused The Government To Shut Down (Business Insider)
• Wall Street to Washington: ‘What, Me Worry?’ (Businessweek)
• Why the Health Care Law Scares the G.O.P. (NYT) see also Overwhelming Demand for Obamacare Shows Potential Success (Bloomberg)
• Over the past few years, the zombie apocalypse has come to represent an alternative to neoliberalism – an ideology that admits no alternatives. (The Airship)

What are you reading?

 

Price of Gasoline Drops For 30th Straight Day
Graphic
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.

5 Responses to “10 Midweek PM Reads”

  1. RW says:

    Among their many other wars Calculated Risk reminds us the Republicans are also waging a war on data.

    Flying Blind: Data Held Hostage

    In the early stages of the Depression, policymakers were flying blind. But at least they recognized the need for better data, and took action. All business people know that when there is a problem, a key first step is to measure the problem. That is why I’ve been a strong supporter of trying to improve data collection on the number of households, vacant housing units, foreclosures and more. Unfortunately that hasn’t happened, and in fact there has been an effort to reduce the amount of data collected.

  2. maddog2020 says:

    Re: “How Less Than 5% Of The US Population Caused The Government To Shut Down”
    To go further, think about the tiny fraction of the population that determines who’s on the ballot in the first place (in most states).

  3. RW says:

    Carl Icahn Wants Apple to Double Down on Boring

    The lame part is that Icahn’s idea of what Apple should do with $150 billion is … buy $150 billion worth of AAPL shares.

    In other words, it’s a clever financial engineering scheme whose objective is to keep everything Apple does the same while enriching Apple’s shareholders somewhat. And financial engineering is what Icahn is all about. But obviously the world looks to Apple for hardware and software engineering.

    …don’t take this as a knock on Icahn. But Apple’s executive team needs to think about this. Cash on the balance sheet sounds nice. But if you don’t find real projects to spend the money on, then the pressure to spend it on financial engineering eventually becomes irresistible.

    NB: Some of my best shorts were equities where Icahn was (at least publicly) long. I once got into something of a forum argument where the counterargument basically was, “emulating what the big dogs do is a good strategy and betting against them is dumb — if they’re long a company the last thing you should do is short it” and my point simply was, the big dogs have very different constraints than retail investors and may be playing this company for completely different reasons so trying to follow them is a fools game. For all I know Icahn is just using the company I plan to short for leverage while stripping the equity out to dump the dessicated carcass on some greater fool before exiting.

  4. 873450 says:

    GOP forces Obama to drop ban against Greatest Generation visiting WWII memorial and vows to shatter DEM blockade prohibiting U.S.M.S. vets access to Korean and Viet Nam memorials.

    http://www.nytimes.com/news/fiscal-crisis/2013/10/02/world-war-ii-memorial-will-stay-open-to-veterans/

    World War II Memorial Will Stay Open to Veterans

    WASHINGTON — Veterans will be able to visit the World War II Memorial while the government is shut down, Carol Johnson, a spokeswoman for the National Park Service, said in a Twitter message on Wednesday.

  5. beaufou says:

    Thanks for the zombie article BR, a fascinating look into modern culture.