My morning reading:

• Majority of House appears to support ‘clean’ continuing resolution bill (Washington Post) but see John Boehner doesn’t really want to ‘negotiate’ with Obama (The Plum Line)
• Dangerous for Competitors—and for Shareholders (Barron’s)
• Buffett’s Crisis-Lending Haul Reaches $10 Billion (WSJ)
• Closure Creates an Investor Opening (Moneybeat) see also What a difference a rally makes. (The Reformed Broker)
• How four car companies are forging ahead on fuel efficiency (Christian Science Monitor)
• Why Hasn’t the Budget Deficit Decline Hurt Corporate Profits More? (Pragmatic Capitalism) but see A U.S. Default Seen as Catastrophe Dwarfing Lehman’s Fall (Bloomberg)
Hal Varian: the economics of the newspaper business (International Journalism Festival)
• Was tulipmania irrational? (Economist)
• One Big Doubt Hanging Over Twitter’s IPO: Fake Accounts (WSJ)
• 11 Simple Rules For Getting Along With Others (Farnam Street)

What are you reading?

US Default Risk Goes Up as Rest of World Gets Less Risky
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.

9 Responses to “10 Monday AM Reads”

  1. VennData says:

    House Democrats prove to Boehner there ARE enough votes to pass a clean up-or-down end to the government shutdown…

    … while he claims there AREN’T enough votes if he allowed an up-or-down bill to be voted on the floor…

    …So Boehenr is either a liar or cannot add. Either way, what are you doing saying ANYTHING else but demanding Boehner to step aside and let the vote come to the floor? Especially when he guaranteed to to pay all the government employees…

    …So it’s not about businessman-politicians saving taxpayer’s money, they are going to pay the employees anyway. So what is Boehner doing?

    While Fox pretends that “Americans” support the GOP. That’s right PRETENDS

  2. farmera1 says:

    Looks like Tor is a target of the NSA (tax dollars at work).

  3. rd says:

    Th is an interesting article on the efforts of the US military to reduce its dependence on trucked fuel in remote locations for operating electricity generators:

    There is a growing movement towards locally generated electricty from solar panels and other renewable energy options. The US military taking a leading role in this for national security reasons could prompt a much more financially stable and innovative environment for developing home and business systems that can be implemented nationwide down the road. It is likely that the nation’s electric grid will look very different two decadess from now.

    • ilsm says:

      The cost of home photo voltaics has declined precipitously in the past 25 years. Army is coming very late to the technology.

      The stuff will be “off the shelf”, the customized SW will not work and drive the cost through the roof. Then the ‘panels’ will be supported by contractor service reps who will show up in a 500 hp SUV.

      The road signs and emergency phones on the highways are already there.

      US Army was sent off to do hydrids more than 10 years ago……………………..

      Future Combat System, included a family of “common chassis” was cancelled a complete wreck 3 years ago.

      Some day the US navy might get on with the drives cruise ships use……..

      The R&D alone for the F-35 is coming in more than the total R&D and procurement of the F-22 the previous most expensive pentagon boondoggle.

      Better off not planning to put outposts on top of remote mountains 10,000 miles away to keep terrorists from blowing up some place in the US.putting

  4. rd says:

    From the Tulipmania article: Nicolass Posthumus must be the best name ever for a historian. I looked it up to make sure it wasn’t a fictional name.

    • rd says:

      BTW – the seriosu point in the aricle is an important one as the lop-sided risk-reward ratios mirror our TBTF banking and executive compensation systems where profits are privatized and losses are socialized.

    • czyz99 says:

      The Dutch/Flemish have really weird names. My Dutch brother-in-law had a friend who sold weed and his name was Potgieter.

  5. rd says:

    An AP article with some data and a number of anecdotes about families around the world avoiding stocks, cutting debt, and reducing spending:

    To add to the anecdotes, I have three kids who have entered the work force in 2008 or later. Their total annual income is close to $150k and they have a total of about $50k in student loan debt between the three of them. I would be surprised if between the three of them they have $1,000 in credit card debt at any given time. Only one of them bought a car two years ago and that is almost totally paid off. The other two walk, bike, and use public transit in major cities. None of them are thinking of buying an apartment or house in the near-future.

    I have been able to convince them to save for retirement as well as build up cash savings. So between employer contributions and their own savings, they have been saving about 15% of their income for retiement once they have been working for a year. That took some real effort to sit them down and go over the long-term math and then show them the types of accounts that they should have. A very good suburban high school and four years of college gave them absolutely no background for understanding how much to invest and what to invest in. I walked them through the barbell strategy of having cash savings in a FIDA account to cover immediate needs in an emergency and a dollar-cost averaged long-term tax-sheltered account with a lot of equity investments in inexpensive target-date Roth IRA or 401k accounts.

    I think it is going to be a while before the millenials in all of these countries drive the world’s economy with consumption.

  6. DeDude says:

    I am not sure I get this GOP “leverage” thing. “Do as I say or I will kick Grandma!” – is that supposed to give you “leverage”??? Do I hear some snickering over there on the left side?