My Sunday morning reading materials:

• Some Economic Consequences of the Shutdown (Economix) but see How a Debt Ceiling Crisis Could Do More Harm Than the Shutdown (NYT)
• A Fed love story: Janet Yellen meets her match (Yahoo)
• What Homeowners Across the U.S. Spend on Home Improvement (WSJ) see also Construction Loans for Your Dream Home (WSJ)
• CNBC has worst quarter in 20 years (Talking Biz News)
• Can Intelligence Really Be Measured? (Discovery) but see The Reign of Morons is Here (Esquire)
• It’s not just people. Corporations are getting more unequal, too. (Wonkblog)
Eric Cantor, Kevin McCarthy & Jim DeMint: Plot To Sabotage US Economy in Secret Meeting (Daily Kos)
• The Republican Hardliners Aren’t Conservatives, They’re Radicals (Atlantic) see also Top Republican Calls For Replacing Obamacare With Obamacare (Business Insider)
• Satellite Maps Reveal Who’s to Blame for the Sinking of Venice (Wired)
• The Official Top 40 Biggest Selling Singles Of 2013 So Far! (Official Charts)

Whats for Brunch?

 

Here’s What Jobs Report Would Have Said  
OB-ZE193_JOBS_E_20131004151459
Source: Real Time Economics

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.

14 Responses to “10 Sunday Reads”

  1. Internet Tourettes says:

    A good primer as to how Government works and how and why the shutdown happened…

    http://www.nytimes.com/2013/10/06/us/a-federal-budget-crisis-months-in-the-planning.html?hp&_r=0

  2. chartist says:

    I listen to CNBC, along with other channels on satellite radio. The quality of the CNBC sponsors is low compared to sports talk radio which is often sponsored by large well known branded companies.

  3. judabomber says:

    Who needs CNBC when we’ve got people like Barry?

    Pandora has been my satellite radio (and w/ bluetooth means I’m listening everywhere I go) and I would get Apple radio if my droid device allowed it.

  4. rd says:

    Issa and other Republicans wanting to replace Obamacare with Obamacare is not strictly accurate.

    From the various incoherent proposals put forward over the last week or two from the GOP House, as far as I can tell only Congress members and their staff would get subsidies, presumably because they are essential workers while their voters are not.

  5. rd says:

    It looks like the debt-ceiling “debate” may shift from Obamacare to reworking the tax code, Medicare, and Social Security.

    http://www.bloomberg.com/news/2013-10-06/some-tea-party-backed-lawmakers-yield-in-obamacare-fight.html

    I put “debate” in quotes because I don’t think there are any concrete ideas out there to debate.

  6. “MUG shots have been online for years, but they appear to have become the basis for businesses in 2010, thanks to Craig Robert Wiggen, who served three years in federal prison for a scheme to lift credit card numbers from diners at a Tex-Mex restaurant in Tallahassee, Fla. He was looking for another line of work, according to news articles, and started Florida.arrests.org.”

    Mugged by a Mug Shot Online (NYTimes)

    http://goo.gl/cFisEn

  7. RW says:

    I’m seeing more analysis like this and understand the logic — even though I think the rationale and actions it describes are incoherent and juvenile to say nothing of violating oath of office — but that logic does not add up (given the patent innumeracy of the main actors as well as most of those who purport to analyze their actions this is no surprise).

    Why The Shutdown Will Last Another Week

    Boehner would presumably like to [get past the shutdown and debt ceiling] all at once …rather than reopen the government on Tuesday only to have a debt ceiling showdown four days later. But that means the government has to stay shut down all the way until the chaotic 11th hour of the debt ceiling which is still almost two weeks off. That means at least another week of stalling and posturing on the shutdown

    Here’s why they’re probably wrong.

    October 17th and a Government Shutdown Don’t Mix

    The government shutdown means that much of the spending that would otherwise be going to support the $1.2 trillion discretionary portion of the federal budget are not being made. …

    … if the government remains shut for several weeks, the debt ceiling deadline will be pushed out past the October 17th deadline …

    • rd says:

      I wouldn’t be too sure that the shutdown delays the debt ceiling date too much. I believe that the debt is related to cash demands. Much of the cash demand is related to things that are not shutdown, such as payments on debt, Social Security etc. Even past invoices froms contractors still need to get paid. About the only thing that is significantly reducing cash outlays is not paying a certain percentage of the Federal workforce – despite the hype, that is a relatively small percentage of overall outlays..

  8. VennData says:

    With a few exceptions like J. Brown, T. Mathesion, Carl Q, and Becky the CNBC crew parrot the GOP talking points that have hurt investors who’ve followed that “Obama is going to ruin America” nonsense.

    Warren Buffet sitting at a diner table spilling coffee on his tie and telling people to buy in ’09 would have been a more useful show. To compound the problem these people who missed the opportunity of a lifetime are raging lunatics ar the moment. Fact is if they all bought in ’09 we wouldn’t have had the opportunity, so I guess I should thank the GOP Media Machine for their looney fear mongering.

    Thanks.

    • VennData says:

      If you’re a conspiracy theorist, think about this: The Kochs and the other GOP Media Machine financers scare the crap out of you and buy the stock you dumped in ’09

      Taking it to tue next level, their assurances that Bush was really a dignified genius gave the Kochs et al the chance to sell you overpriced stocks and real estate, also bought those stocks cheap when Clinton was elected and going to takeover with black helicopters etc.

      Say what you will, this is how it played out.

  9. Molesworth says:

    I’m guessing that there will be a huge sell off on Tuesday because, just as when BR travels, he’ll be out of the office, leading his conference. But we will have the multiple whammy of all of his colleagues, associates and followers all out of the office attending said conference. I’d like to be there but I’m on the west coast. So, I’m putting together my wish list and checking it twice.
    Of course, that’s a prediction based on uncorrelated association. But if I’m right, I’ll trick myself into believing I’m a genius.
    http://i.imgur.com/dxfWK.jpg

  10. mpetrosian says:

    Reign of Morons is a really good article. You could disagree with the whole thing and still love the writing. Thanks

  11. RW says:

    What the new climate report really says

    The IPCC report is the Olympics of climate change – once every few years the best in the world show us the results of thousands of the most recent research studies. Inevitably, it brings out the peddlers of doubt, people who do their best to muddy the waters about our changing climate. …

  12. RW says:

    Niall Ferguson doesn’t have a clue so of course the Wall Street Journal is delighted to further misinform their readers by publishing him.

    Whiskey-Tango-Foxtrot Niall Ferguson is wrong again

    No, net interest payments on the federal debt are NOT 8% of GDP, they are 1.3%, and that is still the wrong number to look at if you know how to read a CBO report which Ferguson apparently does not.