My morning reading material:

• Physicists and the financial markets (FT)
• Whereforth Art Thou Alpha? Beating the Market has Become Nearly Impossible (Institutional Investor) see also You’ll never be a Yale superman (FT Alphaville)
• Justice Dept. sees $13 billion JPMorgan deal as a template for future bank settlements (Washington Post)
Lord Skidelsky: Misconceiving British Austerity (Project Syndicate)
• Silicon Valley’s Secessionist Movement Is Growing (NY Mag)
• Experian Sold Consumer Data to ID Theft Service (Krebs on Security)
• How long will Google keep burning money on Motorola? (The Verge)
• The shale-gas boom won’t do much for climate change. But it will make us a bit richer. (Washington Post)
• Apple Two-fer:
…..-Apple Preparing 65-Inch TV for Release in 2014, Analyst Says (Bloomberg)
…..-Apple to Refresh IPads Amid Challenges for Tablet Share (Bloomberg)
• Startup to sell balloon trips to edge of space (WSJ)

What are you reading?


September Non Farm Payrolls
September 2013 NFP
Source: Quartz

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.

6 Responses to “10 Tuesday AM Reads”

  1. RW says:

    Extrapolating trends forward in time can be a useful analytic tool as long as you’re not foolish enough to believe the logical outcome is necessarily the most likely one.

    No, technology isn’t going to destroy the middle class

    … Writing in Das Kapital in 1867, Karl Marx looked at the growing gap between poor factory workers and the wealthy owners of capital and concluded that the Industrial Revolution would progressively immiserate the working classes. In fact, the opposite was true; the Industrial Revolution was on the cusp of creating the modern middle class.

    Today, Cowen is making a similar mistake. He sees a growing gap between the cognitive elite and everyone else, and concludes that these trends will accelerate in the next few decades. But history suggests a more optimistic possibility: as information technology matures, the economy will create a growing number of opportunities for moderately-skilled workers to develop skills that complement intelligent machines. …

  2. hue says:

    Don’t Blame Obamacare for High Part-Time Employment (WSJ)

    Who Will Prosper in the New World (NYT) No, Technology Isn’t Going To Destroy The Middle Class(WaPo)

  3. RW says:

    It bears repeating.

    Godwin and the Greenback

    I’m starting to notice a shift in the scare talk. Cries that we’re about to turn into Greece …are getting a bit fainter …But taking their place are dire warnings that we’re endangering the dollar’s role as a reserve currency.

    …People who talk like this generally have no idea what they mean …In fact, I’d suggest that there’s almost a Godwin-like principle here, which is that any extended economic discussion ends up with people invoking the need to defend the dollar’s international role …is in effect a concession that they’ve lost the rest of the argument.

    So, what is the dollar’s international role? …

  4. VennData says:

    What should be the punishment for skirting God-given laws against Tesla? Beheading?

  5. 873450 says:

    Tech, privatization, ongoing crisis economy, dysfunction, … slash federal civilian workforce number to 47-year-low (down from 4.3% to 2% employed American population).

    Bloated Government? Federal Employment at 47-Year Low By FLOYD NORRIS

    In September, before the government shutdown, the government had 2,723,000 employees, according to the latest job report, on a seasonally adjusted basis. That is the lowest figure since 1966. Until now, the lowest figure for the current century had been 2,724,000 federal employees in October 2004, when George W. Bush was seeking a second term in the White House.

    Now, the federal government employs exactly 2 percent of the people with jobs in this country. In 1966, the figure was more than twice that, 4.3 percent.

  6. Francisco Bandres de Abarca says:

    Why your next computer will run…Unix?
    (It may well already be as such.)

    Speaking of which . . .

    The Zumwalt-class has an interesting hull design. It is a bit of a throwback to the pre-dreadnaught ‘tumbledown’ configuration.

    Speaking of physicists in the financial world . . . I presume some may recognize an increasingly amplified (leveraged) phugoid pattern in asset pricings. The question from a physicist/engineering perspective may be: How much stress can an airframe (economy) endure on such a flight profile before increasing stresses inflict a potentially catastrophic failure on the airframe?

    Ah, but I’m being naive. Currency devaluation means that the bills never come due.