My afternoon train reading:

• What Fed economists are telling the FOMC ( see also Kohn: Central Banks Can’t Stop Bubbles (Real Time Economics)
• The Bond King’s Shrinking Realm (Business Week)
• The Surprisingly Violent Story Of How The Trucking Industry Killed Fair Prices For Great Diesel Cars (Business Insider)
• BMW Offers Money-Can’t-Buy Perks to Keep Biggest Spenders (Bloomberg)
• Yep, Being a Young, American Adult Is a Financial Nightmare (Atlantic) see also Olivia Mitchell: You Might Live to 100. Will Your Money? (Think Advisor)
• Food Stamp Cuts Add to Walmart’s Troubles (Daily Beast)
John Dean: “It Is Everyone’s Job To Be A Truth-Teller” (NSFW Corp)
• Why Fannie and Freddie Are Paying Back Uncle Sam (WSJ)
• Traffic stop nightmare Oh, the litigation over this will be delightful! (KOB Eyewitness News)
• These Are The World’s Greatest, Most Stunning Libraries (HuffPo) see also The Library: A World History (Amazon)

What are you reading?



Return of Cash Sparks Emerging-Market Rallies

Source: WSJ

Category: Markets

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 Thursday PM Reads”

  1. Molesworth says:

    Re:: KOB report. It’s nearly SOP to search female private parts roadside in Texas. Just google it.

  2. rd says:

    Re: Central Banks Can’t Stop Bubbles

    Maybe not, but maybe they could start fewer of them.

    Both Greenspan and Bernanke have kept interest rates lower than inflation over the past decade for extended periods of time. These moves have helped goose overall economic activity but they do it by funneling money through the financial sector which often uses the money to purchase financial assets at elevated prices instead of loaning it out to companies and individuals investing in the economy. They also have the opportunity to participate in regulating firms to keep things on the straight and narrow. It is clear htat in the run-up to the 2008-2009 crisis Greenspan had drunk the Kool-Aid and believed that these people did not need regulating.

    By taking these approaches, the central bankers are giving a free pass to the politicians who can act like idiots knowing that the Federal Reserve will have their back. These people don’t have to get a rational budget in place because the Federal Reserve is goosing the economy to keep it moving sluggishly forward despite the best intentions of Congress and the Administration to hold it back.

    What the world economy look like today if the Fed had gradually allowed short-term interest rates to rise to 1.5%-2% and 10-yr bonds to rise to 3%-4% over the past 2 years? I am sure that it would look different but not necessarily worse. My guess is that Congress would have had to step up to the plate to provide some comprehensive solutions in the meantime instead of the idiocy of shutting down the government to achieve goals they can’t even enumerate.

  3. Petey Wheatstraw says:

    I just had a talk with my teenage son. I told him, that no matter whatever else happens in his life, if he finds himself involved in a traffic stop in Hidalgo County or the City of Deming, NM, that he, above and beyond any other consideration, not clench his ass cheeks. Don’t ask why — just don’t do it. Folks out that way seem to be awful sensitive about the attitude of one’s ass cheeks.

    • TerryC says:

      Or you might tell him not to get stopped by NYC detectives or he could get a broom handle up his rear.

  4. theexpertisin says:

    It’s everybody’s job to be a truth teller? OK.

    Who decides?

  5. rd says:

    This is the most informative piece I have seen on the Miami Dolphins Martin-Incognito issue:

  6. protonrick says:

    Re Walmart:

    It is highly possible that Walmart sales are down because even the “poor” know their merchandise is sub-standard.
    Even the “poor,” heck, especially the “poor” must try to get better product for their dollar.

    Hear that, Walmart?

  7. chartist says:

    High diesel fuel taxes can’t be telling the whole story…In May of 2004, I bought a Mercedes E320 CDI. It was the first diesel Benz available in the US in five years. At that time, diesel was the same price as regular gas, now its 15% more than premium gas. This story references Reagan’s presidency. But what’s happened since 2004?

  8. ami_in_deutschland says:

    Beautiful collection of libraries. It even turns out I live just 1 1/2 hours from Wiblingen Abbey. I’ll definitely be adding it to my collection of day trips…