My Sunday reading:

• JPMorgan’s Record $13 Billion U.S. Settlement  (Bloomberg) see also A Tentative Settlement Neither Side Can Be Happy About (MoneyBeat)
• Investing Like You Have Brain Damage (Motley Fool)
• Robert Shiller Interviews:
…..-A Nobel by acknowledging economic absurdity (Washington Post)
…..-A Skeptic and a Nobel Winner (NYT)
• Alan Greenspan still thinks he’s right (Washington Post)
• How to Pay Millions and Lag Behind the Market NYT see also Is Hedge-Fund Advertising Good or Bad for Investors? (WSJ)
• The investment manager ridiculed in “The Big Short” is now under fire from the SEC (Quartz)
Benjamin Wittes: “Congress is the clearest & most present danger in world to national security of United States.” (NYT)
• Verizon Could Have Sold More iPhones in the Third Quarter (All Things D) see also Facebook ad profit a staggering 1,790% more on iPhone than Android (Venture Beat)
• Does the global warming ‘pause’ mean what you think it means? (The Guardian)
• Our Interview with Bill Watterson! (Mental Floss)

What are you reading?


Tea Party Shut Down Might Cost GOP the House
Source: Washington Post


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 Sunday Reads”

  1. chartist says:

    I for one hope the Dems take the House. I am fearful of the concentration of wealth amongst the 1%….With the wage gains largely accruing to the top 10% I believe it’s time to raise the income level subject to social security taxes. I certainly support the Elon Musks of the world making all the money they can as entrepreneurs, it’s the CEOs like Jamie Diamond raking it in that should be taxed heavily.

    • S Brennan says:

      “I am fearful of the concentration of wealth amongst the 1%”

      Okay, please explain why you see “hope the Dems take the House” as a solution?

      Is my memory failing…didn’t the Dems have the house, senate & presidency for 2 years…which they diddled away passing the pathetic Obama/Romney/Gingrich/Heritagefoundation-Care plan ?

  2. Bob is still unemployed   says:

    More fallout from the Snowden affair.

    The Internet is moving away from the U.S (networkworld)

    “A recent article in the Wired UK edition reported that most of the Internet infrastructure management organizations are seeking to break free of any U.S. management and control. According to the article in Wired, “ICANN, the Internet Engineering Task Force, the Internet Architecture Board, the World Wide Web Consortium, the Internet Society and all five of the regional Internet address registries have vowed to break their associations with the U.S. government.”

    “For many people who have been involved in the internet for a long time, this is a sad state of affairs, as most of these organizations were initially started and funded by the U.S. government. However, information made public by Edward Snowden and other leaks have undermined the trust the rest of the world has in the U.S. managing such an important asset as the Internet….

    “…The true issue is the impact of this anti-U.S. movement on the U.S. tech and Internet industries. I am reminded of my time selling infosec solutions to the U.S. government. It amazed me back then that so many government agencies and departments had an unwritten rule it seemed about buying Israeli security technology. The feeling was that somehow the Israeli Mossad had a backdoor into Israeli technology. I believe the same thing will now be happening with U.S. technology….”

    see also:
    What Last Week’s Anti-U.S. Shift in Internet Governance Means to You (AlLThingsD)

  3. kcarver says:

    My simple mind did not understand that the dollar would hold up so well against negative real interest rates and multiple QE’s. Fortunately, I’m aware of my mental weakness and did not always follow my own advice. I have heard the explanations about pushing on a string in a liquidity trap, banks using the money to recapitalize and taking the treasury rate arbitrage, and the lack of debt demand in the economy due to deleveraging. Now, John Mauldin just pointed out some more factors that should keep the dollar going. I sure hope he’s right, but my simple mind still keeps me hedging my bets.

  4. Jojo says:

    Credit Suisse Global Wealth Report

    The 2013 Credit Suisse Global Wealth Report and the more detailed
    accompanying Global Wealth Databook aim to provide the most
    comprehensive study of world wealth. Unlike other studies, they
    measure and analyze trends in wealth across nations, from the very
    bottom of the “wealth pyramid” to ultra high net worth individuals.
    This fourth Wealth Report continues our close collaboration with
    Professors Anthony Shorrocks and Jim Davies, recognized authorities
    on this topic, and the principal authors of “Personal Wealth from a
    Global Perspective,” Oxford University Press, 2008.

    Global wealth has reached a new all-time high of USD 241 trillion, up
    4.9% since last year and 68% since 2003, with the USA accounting for
    72% of the latest increase. Average wealth per adult reached a new all-
    time high of USD 51,600, with wealth per adult in Switzerland returning
    to above USD 500,000.

    We expect global wealth to rise by nearly 40% over the next five
    years, reaching USD 334 trillion by 2018. Emerging markets are
    responsible for 29% of that growth. China will account for nearly 50%
    of the increase in emerging economies’ wealth. Wealth growth will
    primarily be driven by growth in the middle segment, but the number of
    millionaires will also rise markedly over the next five years.

  5. Jojo says:

    Fascinating article.
    The End of Hitler’s Family Line – The Pact Between the Sons of Hitler’s Nephew Never to Have Children
    Terynn Boulton
    October 15, 2013

    Today I found out the fate of the survival of Hitler’s bloodline rests in the hands of just five family members: the two sons (Peter Raubal and Heiner Hochegger) of Adolf Hitler’s half-sister Angela Hitler, and the three remaining sons (Alexander, Louis, and Brian Stuart-Houston) of Adolf’s half-brother Alois Hitler Jr.

  6. Jojo says:

    Gene scans solve mystery diseases in kids, adults
    – Oct. 2, 2013 5:10 PM EDT

    They were mystery diseases that had stumped doctors for years — adults with strange symptoms and children with neurological problems, mental slowness or muscles too weak to let them stand. Now scientists say they were able to crack a quarter of these cases by decoding the patients’ genes.

    Their study is the first large-scale effort to move gene sequencing out of the lab and into ordinary medical care, and it shows that high hopes for this technology are finally paying off.

    “This is a direct benefit of the Human Genome Project,” the big effort to decode our DNA, said Dr. Christine M. Eng of Baylor College of Medicine in Houston. “We’re now able to directly benefit patients through more accurate diagnosis.”

    She led the study, which was published online Wednesday by the New England Journal of Medicine. It gives results on the first 250 patients referred to Baylor for a newer type of sequencing — just the DNA segments that hold the recipes for all the proteins the body needs. That’s only about 1 percent of the whole genome.

    Baylor has sequenced more patients beyond those in the study — 1,700 so far — and found gene flaws in 1 out of 4, Eng said.

  7. Robert M says:

    I for one would prefer that as a settlement JPM is forced to give up their FDIC bank charter. I’ve no problem w/ them being a trading operation but this nonsense they can be a trading operation on the publics’s dime is beyond the pale.
    I haven’t heard much about this of late but as support I would look forward to it.