My good Columbus Day, congrats to Bob Shiller, Monday morning reading:

• Forty Years After OPEC Embargo, U.S. Is Energy Giant (Bloomberg)
• Art market: Painting by numbers (FT.com)
This is the danger of default: U.S. fiscal failure warrants a de-Americanized world (Xinhua) see also Why China may not be over-investing (FT Alphaville)
• How important is an adviser’s track record? (MarketWatch)
Todays WTF headline: David Stockman: Soak the Rich (Barron’s)
• The 13 reasons Washington is failing (Wonkblog) see also World Keeps Full Faith in U.S. Treasuries If Not Politics (Bloomberg)
• Why You’re So Bad With Your Money (Motley Fool) see also How Aging Impacts Our Financial Decisions (Forbes)
• My weekend with the iPhone 5s: It’s hard not to recommend this phone to anyone (Gigaom)
• Scott Adams’ Secret of Success: Failure (WSJ)
• Review: Paul McCartney sounds revitalized in ‘New’ (Pop & Hiss)

What are you reading?

 

Republican Party Favorability Sinks to Record Low
Chart
Source: Gallup

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 Monday AM Reads”

  1. dcg says:

    David Rosenberg shift from deflation to moderate inflattion/stagflation….

    http://wealthtrack.com/special-series/great-investors-series/seismic-investment-shift/

  2. Chief Tomahawk says:

    The Obama Birth Certificate e-mails keep circulating… if there’s one group who should’ve been motivated to check on the qualifications of the opposing party’s candidate, The Republican National Committee should’ve been it. Yet I can’t recall any statement having ever been issued by the RNC. Has anyone ever heard whether the RNC ever stated they had fact-checked the matter, and if so, what they found?

    • rd says:

      They could also start researching some of their own potential presidential candidates.

      You would think that a Tea Party favorite like Ted Cruz would have a full court press on to kill the birther movement at this moment. Although he does seem to be pre-occupied by some other things right now….

      Could it be that Ted Cruz is actually a foreign agent (say a secret agent for his birht country Canada) who is attempting to undermine the US by destroying its full faith and credit?

      I think we could have fun going toe to toe with the various conspiracy theorists.

  3. digistar says:

    “U.S. fiscal failure warrants a de-Americanized world (Xinhua)”.

    This seems very reasonable.

    It is crazy to let a seriously dysfunctional America dictate to the rest of the world.

    Hopefully, after our current (carefully crafted) political stupidity causes us enough pain, we can do a reboot and join the international community as a responsible partner.

  4. couragesd says:

    New Device Harnesses Sun and Sewage to Produce Hydrogen Fuel
    Oct. 10, 2013 —
    A research team led by Yat Li, associate professor of chemistry at the University of California, Santa Cruz, developed the solar-microbial device and reported their results in a paper published in the American Chemical Society journal ACS Nano. The hybrid device combines a microbial fuel cell (MFC) and a type of solar cell called a photoelectrochemical cell (PEC). In the MFC component, bacteria degrade organic matter in the wastewater, generating electricity in the process. The biologically generated electricity is delivered to the PEC component to assist the solar-powered splitting of water (electrolysis) that generates hydrogen and oxygen
    http://www.sciencedaily.com/releases/2013/10/131010205331.htm

  5. RW says:

    A (De)Long title but an important empirical confirmation.

    Campbell-Shiller Regressions: Future S&P Price Changes Regressed on Ratios of Prices to Long-Run Moving Averages of Past Earnings

    …updated Campbell and Shiller’s original 1996 mean-reversion regressions to include the extra decade and a half of data we have obtained since.

    … a major, major, empirical win for Campbell and Shiller.

    …movements in market-wide price-earnings ratios …are best interpreted as due to fads and fashions in how much people are willing to nerve themselves to pay for a dollar of earnings today–

  6. RW says:

    It’s Monday Morning and Robert Samuelson is Confused About the Economy

    Today’s topic is how we are stuck in a slow growth path and therefore will have to take the ax to programs like Social Security and Medicare. Of course Samuelson always wants to take an ax to programs like Social Security and Medicare, this is just a new reason for cutting back programs that working people depend upon. …

    …we are certainly seeing slow growth now, but this is because Congress is working hard to roll back sources of demand, most importantly government spending. For reasons that no one can explain we are not supposed to even talk about raising demand through reducing the value of the dollar and thereby increasing net exports.

    …We know how to fix this — spend money — but that is not in fashion right now. Instead, high unemployment and slow growth is the rage, but this is by design, not a fact of nature.

  7. rd says:

    One of the things I like about this website is the eclectic mix of articles on finance. The aging issue (Forbes article) has been over-looked by many I think as nearly everything written is on how to pick the best stock or fund to maximize growth. Personally, even though I am still a decade from retirement age, I have been trying to simply our financial situation every couple of years or so. My goal is to get it almost on auto-pilot by age 65.

    I think the use of immediate or deferred annuities to supplement Social Security and pensions to give the equivalent of a decent salary showing every month in your checking account has been overlooked by many as a possible mechanism to help counter some of the age-related decision-making issues. The desire by many in the financial industry means that they are trying to sell variable annuities early in a career to get the commissions but with little real advice on what they mean later in life. It will be interesting to see what is in the market a decade or so from now when it is time to convert some of our 401k money to annuities. I suspect that expenses will be lower then than today as expenses seem to be generally declining as the regulations continue to demand more and more fee transparency.

  8. rd says:

    Another WTF headline:

    http://www.businessinsider.com/high-end-consumers-thriving-low-end-not-2013-10

    Apparently Goldman Sachs is becoming concerned about income inequality because low-end consumers are not pulling their weight due to the significant tax increases that they have had compared to the high-end consumers. Also, they appear to have just discovered that the lower classes don’t own assets, so their wealth isn’t increasing as asset prices rise, so they can’t spend more of their new-found wealth.

    If I recall, a major theme of the last election was that the lower half don’t pay taxes and so tax cuts on the wealthy are required to encourage investment and spending in the economy. Yet somehow Goldman Sachs (poster children of income inequality and tax cuts) is suddenly figuring out that trickle-down is failing to actually bolster spending and the economy. The muppets are simply not falling in line with theoretical economic thinking because the taxes they don’t pay are rising too high and too fast!

    I can hardly wait for the next installment where they begin to lobby Obama to push for cutting payroll taxes and shifting the tax burden onto the wealthier classes so that the lower classes will have more disposable income to spend.

    • DiggidyDan says:

      This has been the case for many years, only the “easy credit and home equity” bubble masked it before the great recession. Now that low end consumers are chronically unemployed or underemployed and can’t get easy loans to fund lifestyles they never should have been partaking in in the first place, the problem is more exaggerated.GS certainly had no problem partaking in the housing craze that allowed them to make fistloads of money through MBS market they knew that low-end consumers had no ability to sustain for the long term. They play both sides of the coin. I’m sure they will find a way to profit from wealth redistribution if that unlikelihood somehow occurs!

  9. willid3 says:

    put US in bankruptcy?

    http://www.businessinsider.com/ted-yoho-wants-to-put-the-us-through-bankruptcy-2013-10

    maybe the GOP really doesnt understand business after all?