Here’s what I’m reading on the way home this evening:

• George Osborne: How Britain Returned to Growth (WSJ)
• Facebook Is A Fundamentally Broken Product That Is Collapsing Under Its Own Weight (Business Insider)
• A Look Inside the Fed’s Balance Sheet (WSJ) see also Who’s really running the Fed now? (Washington Post)
• North America to Drown in Oil as Mexico Ends Monopoly (Bloomberg)
• China’s Shadow Currency (The Diplomat)
• Stern Words for Wall Street’s Watchdogs, From a Judge (NY Times) see also Unforeseen consequences of the Volcker rule already are rippling into the furthest corners of the economy and financial markets. (WSJ)
• The Rumored Chase-Madoff Settlement Is Another Bad Joke (Rolling Stone)
• The Thought Leader (NY Times) see also Krugman: The Facebooking of Economics (NY Times)
• Obamacare Is Actually Good. No, Really (Vocativ)
• 59 Unreleased Beatles Songs Are Coming To iTunes (Fast Company)

What are you reading?

 

One Chart That Shows Just How Much Global Stocks Are Booming

Source: Time

 

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.

17 Responses to “10 Tuesday PM Reads”

  1. catclub says:

    I think Dean Baker has noted that Cameron’s return to growth was only after an unnecessary extra recession, and that the UK is still below where it was in terms of GDP/capita at the previous peak, while the US is above the previous peak.

    I don’t think Cameron pointed out those facts.

  2. Bob is still unemployed   says:

    Digital Exports Dwarf Other Industries, So Why Is The USTR Ignoring Them?

    “We’ve talked a few times about how the USTR seems to have an antiquated view of the American economy these days, which is driving it to make some really bad and dangerous assumptions about what sorts of things should be in the Trans Pacific Partnership (TPP) agreement — things that benefit a few older legacy industries, which totally ignore the reality of where innovation is happening today. In fact, the current policies that the USTR is pushing in the TPP agreement seem designed to actually hold back the most innovative industries of today, pushing them to other countries instead, and massively harming the US economy. We’ve detailed, for example, how the main committee of industry folks who are the “advisers” on the “intellectual property” chapter come from legacy industries, rather than anything involving the internet. The “IP” Industry Trade Advisory Committee (ITAC 15) includes a bunch of lumbering giants, more focused on protecting their positions, than on innovating. …”

  3. VennData says:

    Former Microsoft exec to oversee Obamacare website overhaul

    http://news.yahoo.com/kurt-delbene-retired-microsoft-exec-oversee-obamacare-website-172109018–sector.html

    He’s going to copy France’s free Health care service, but charge people.

  4. VennData says:

    Former Microsoft exec to oversee Obamacare website overhaul

    http://news.yahoo.com/kurt-delbene-retired-microsoft-exec-oversee-obamacare-website-172109018–sector.html

    He’s going to copy France’s free Healthcare service, but charge people.

  5. couragesd says:

    This Guy Spent The Last Month Dressing Up Like Local Realtors And Pasting Himself Over Their Bench Ad (Buzzfeed)
    http://www.buzzfeed.com/ryanhatesthis/this-guy-spent-the-last-month-dressing-up-like-local-realtor

  6. > Facebook Is A Fundamentally Broken Product That Is Collapsing Under Its Own Weight (Business Insider)

    Which would seem to be a little different conclusion from what is found inside:

    “Facebook isn’t going anywhere. It’s going to remain a permanent force in our lives. And with mobile growing, Evans says Facebook will still be a winner. He just doesn’t think it will be the only winner in the social mobile world, unlike in the desktop where it has a monopoly in social.”

  7. willid3 says:

    law school enrollment is falling.

    http://qz.com/159207/law-school-enrollment-is-collapsing/

    maybe its the lack of jobs?

  8. willid3 says:

    corporatism is a leftest plot that has been hatched by the highest levels of the liberal elite

    http://www.newrepublic.com/article/115932/corporatism-latest-right-wing-obama-smear

    or not

    maybe some can’t actually identify what it is ?

  9. par1 says:

    Never understood why charts of total market capitalization (global or national) are anything but meaningless eye candy – don’t reflect IPOs, buyouts or share repurchases, nor do they reflect dividends that are a key component of total returns.

  10. RW says:

    Osborne should get a gig at the Comedy Channel

    By George, Britain’s Austerity Experiment Didn’t Work!

    George Osborne, the patron saint of austerity enthusiasts on both sides of the Atlantic, was in the House of Commons on Thursday, reveling in the fact that the U.K.’s economy is finally growing again, and claiming that “Britain’s economic plan is working.” …from an economic perspective, Osborne’s argument is hogwash. His effort to cure the patient by subjecting it to the equivalent of leeching—big cuts in government spending and higher taxes …failed abysmally. …it subjected his countrymen and countrywomen to three more years of slump-like conditions, and it produced a dearth of public-sector and private-sector investment that will hobble Britain for years to come. It even failed to meet its own targets of drastically reducing the budget deficit and bringing down Britain’s over-all debt burden.

    The Three Stooges Theory of Fiscal Policy

    There’s a scene in one of the Three Stooges movies …in which we see Curly banging his head repeatedly against a wall. Moe asks why he’s doing that, and Curly says, “Because it feels so good when I stop.”

    …austerians are now claiming vindication because some of the countries that imposed austerity are — after years of economic contraction — finally starting to show a bit of growth. …because sooner or later economies do tend to grow …it feels good, at least relatively, when the countries stop banging their heads against the wall.

  11. Conan says:

    http://qz.com/159066/if-you-were-born-after-1960-a-comfortable-retirement-will-rely-on-inheritance/

    For anyone born since 1960, a new report by the Institute for Fiscal Studies (IFS), a think tank, makes for disturbing reading.

    Early in their working lives, people now in their mid-thirties to early fifties tended to have higher inflation-adjusted incomes than earlier generations. But they have also spent more of what they earned, building up less in savings than their older counterparts. A rise in inequality, persistent wage stagnation, and the decline of defined benefit (final salary) pension plans have also chipped away at incomes over the past few decades.

    • 873450 says:

      What’s sad is the younger generations’ financial circumstance is the intended result of 30+ years of policy successfully implemented and maintained by a partnership of corporate elite-captured government dedicated to the massive redistribution of U.S. generated wealth and income shifted away from what was once a prosperous, growing middle class into the concentrated hands of a tiny sliver of the population.

      What’s sadder is the younger generations seem convinced their deprivation and austerity is not the result of class warfare successfully waged against them by 1%, but by generational warfare waged against them by their selfish parents, who must now be punished for it.

  12. rd says:

    I love incompetent columns about incompetence. I was reading this column by Peggy Noonan about the incompetence of the Obama Administration, nodding thoughtfully as I read it….but then it seemed to be very familiar and then I realized that the second half of the column was a duplicate of the first half. The proofreaders had apparently missed this.

    http://blogs.wsj.com/peggynoonan/2013/12/17/incompetence/?mod=trending_now_5

    • She has become awfully unreadable

    • 873450 says:

      Maybe she gets paid by the word?

      Although biased and exaggerated, she correctly points out President Obama’s poor governing skills. Notwithstanding that, Obama does acknowledge errors and shortcomings, and does not claim failure is success anywhere comparable to “Mission Accomplished!” or “Brownie, you’re doing a heck of a job!”