My evening train reading

• U.K. acts to cap retirement-plan fees at 75 bps (MarketWatch)
• The great austerity shell game (Guardian) see also The Bank Guarantee That Bankrupted Ireland (Occupy)
• Hedge Funds’ ‘Two and Twenty’ Era is ‘Done’ (Barron’s)
• Two Papers That Could Persuade the Fed to Prolong Stimulus (Business Week) see also Two Fed Economists Have Given Us A Big Hint About The Fed’s Next Easing Move (Business Insider)
Wolf: Germany is a weight on the world (FT)
• Twitter — Scenario 3, courtesy of Aviate Global (FT Alphaville) see also Facebook? Overvalued? What Makes You Think So? (WSJ)
• Bernanke Giving Homebuyers Second Chance With Pledge (Bloomberg)
• Price Elasticity Can Work: Dropping Ebook Price To $1 Catapulted Year-Old Book Onto NYT Best Seller List (Techdirt)
• Packet Capture by NSA (Google+)
• How Americans Get TV News at Home ( but see Can’t Get Away From It All? The Problem Isn’t Technology — It’s You (Wired)

What are you reading?


Under Obama, spending has been flat
Source: MarketWatch

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.

10 Responses to “10 MidWeek PM Reads”

  1. DrSandman says:

    ahem. Sequester.

  2. hue says:

    Though Defiant, Senator Accused of Plagiarism Admits Errors (<a href=Though Defiant, Senator Accused of Plagiarism Admits Errors (NYTimes)
    “the last time i was beset by haters, it was as if i could not decide whether to be, or not to be, that was the question. whether ’twas nobler in the mind to suffer the slings and arrows of outrageous fortune, or to take arms against a sea of troubles, And… i’ll get back to you with the rest.” i promise to use footnotes.

    Gravity Sucks: Astronaut Ejected From Movie Theater For Loudly Heckling (The Beaverton) “Have you been to space? Because I’ve been to space!”

  3. rd says:

    The Guardian used a very inappropriate analogy comparing mustard compresses vs austerity. Mustard compresses didn’t do anything, but weren’t harmful either. A more appropriate analogy would have been the medicinal practice of bloodletting which was often an effective way of hastening the patient’s death:

  4. willid3 says:

    is economics a science?

    maybe. maybe not

    seems to be more interested in policy than the data it self. which isnt the way science is. plus there doesnt seem to be a lot of peer review.

  5. Bob is still unemployed   says:

    This is, by a wide margin, my favorite youtube video. Spend six and a half minutes of your life and view what we know about the space we live in.

    Have you ever wondered what is beyond our cosmic horizon in space and time, 13 billion light years from Earth?….

    Beautifully produced. Awe-inspiring.

    I am reminded of the Groundhogs song, Earth Shanty.

    “…And the Moon. mirror of the Sun, night-light of the World,
    Drags a blanket of cooling sea across the sand in furls,
    In the night when the stars provide a reason for Man to strive,
    He reasons that’s the reason He’s alive….”

  6. Manofsteel11 says:

    Add the deficit numbers per president next to the ‘flat spending’ numbers? How much was stimulated by adding active gas and oil rigs in the US? Perhaps add after tax income for the top 1% per each term?

  7. Lyle says:

    The article on hedge funds suggests that the process cited in More Money Than God is happening again. Someone has a bright idea, and because you can’t patent investment ideas and folks job hop so much in finance, it is only a couple of years until everyone is using the strategy. Since the idea in general is to find niche inefficiencies in the market, when everyone looks for the same ones they vanish, in particular when lots of folks decide that the investment idea is one they want to put their money on. (O

    • Some clarifications:

      1. You can patent investment ideas See this and this

      2. I have not witnessed a lot of job hopping, rather, I’ve seen financial services contraction and job losses from a wildly overexpanded FinSvc sector

      3. Those inefficiencies vanish not only when more participants come to that space, but also when the original finder gets significantly larger — i.e. gorws from $100M to $!B AUM