My early morning reads:

• Da Bears: The Dow’s New High: Bull’s Last Gasp? (Barron’s) see also Are markets at risk of 1999-style Fed bubble? (CNBC)
• Surprise! Greek Recovery Makes Stocks World’s Best (Bloomberg)
• The economy may dash expectations that the Federal Reserve could scale back its bond buying sooner rather than later (WSJ) but see The Market’s December Taper Fear Is Only Going to Get Worse (WSJ)
• Six signs you’re reading good criticism of economics (Evolving Economics)
• Apple should be like Bloomberg (Reuters) see also Speed and Power Packed Into a Thin iPad Air (All Things D)
• Why CEOs don’t support the Tea Party (Fortune)
• Congratulations, America! Your deficit fell 37 percent in 2013. (Wonkblog) see also The Myth of the Exploding Federal Government, Part 1 (Off the Charts)
• From Anonymity to Scourge of Wall Street (Dealbook)
• Obesity: A new appetite-increasing mechanism discovered (Science Daily) see also The Neuroscience of Why Gratitude Makes Us Healthier (Daily Good)
• Britain Is Experimenting With a Glowing, Seemingly Self-Aware Bike Path (Atlantic Cities)

What are you reading?

 

US Budget deficit fell 37% so far in 2013

Source: Wonkblog

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.

11 Responses to “10 Thursday AM Reads”

  1. hue says:

    Job Creators Not Doing Their Jobs (npr) Since the financial crisis, entrepreneurs just aren’t starting as many fast growing businesses, continuing a 25-year trend.

    Brazil’s Once-Richest Man Readies For Oil Company Bankruptcy (BusinessWeek) How
    Eike Batista Lost $34 Billion In a Year (BusinessWeek)

    Pantyhose Attitudes Correlate to Suicide Caucus Districts (Exploring Possibility Space)

  2. RW says:

    A couple from Brad DeLong

    A single chart showing the clear “anti-stimulus” of the federal government since 2010

    Why Are We Doing This?: Fiscal Policy Edition

    And a response to yet another congressional tool who is either stupidly oblivious or venally pandering but whose constituents clearly don’t care.

    “I’m from a district that pretty much ignores Washington. If you say government is going to shut down, they say, ‘OK, which part can we shut down?’”

    –Rep. Tim Huelskamp, R-Fowler, to Associated Press

    Halloween on the Prairie: Congressman Tim Huelskamp Is the Most Frightening Thing I Will See All Day

    In an average year, Congressman Huelskamp’s First District collects roughly $1.5 billion in farm commodity and crop instance subsidies. There are about 20,000 farmers in the First District.

    You do the math: That’s $75,000/year per farmer in the district. That’s $9,000/year for every family of four living in the district–a district where mean household income is $50,000/year.

    …we do mind Congressman Huelskamp and his constituents pretending …that the First is a self-reliant rugged-individualist district, rather than one that feeds much more greedily than most via redistribution of what the rest of us produce.

  3. CSF says:

    Regarding U.S. deficits, the next three years look good, the next 23 years not so good: http://www.cbo.gov/publication/44521

    We will pay higher taxes, and there will be cuts to entitlements and military spending, at least in real dollars. That’s a reasonable inference, not a policy recommendation.

    • willid3 says:

      course given our ability to forecast what happens tomorrow, the ability to figure out what happens in the next 20+ years is really remote. as an example, could any one have predicted the 2008 debacle back in 1988? and if they did why didnt they do some thing about it?

      • Petey Wheatstraw says:

        I remember the Great Hoopla that surrounded the Republicans in Congress forecasting budget surpluses for the next 20 years as they passed the government-bankrupting Bush tax cuts.

        As for prognostication, generally — the trend and a little common sense are all one has. The Market Casino aside, our current trend/trajectory can’t be viewed as a good thing socio-economically or socio-politically.

      • CSF says:

        It’s hard to forecast GDP for 2014. It’s easy to forecast the number of Americans who turn 67 in 2024.

    • ilsm says:

      In 2011 USD the pentagon spent $711B, including around $160B for “overseas contingency operations”. In FY 2001 the pentagon spent around $400B in 2011 USD.

      Ending the wars and returning to 2001 levels which were “pretty good for peacetime” would put pentagon spending at around $120B less than current budget with sequestration in 2011 USD.

      The pentagon does not need to spend 19% of US G outlays, unless you listen to the PAC’s.

      OMB History tables 3-1 and 10-1.

  4. tradeking13 says:

    Panasonic officially quits plasma TVs, blames Lehman Brothers even after all this time (Engadget)

  5. Bob A says:

    ” You did not, as President Obama averred, “build that,” ”

    http://www.pimco.com/EN/Insights/Pages/Scrooge-McDucks.aspx

  6. intlacct says:

    When is a decline in debt a failure? When there are legions of unemployed and tons of useful work that could employ them.