President’s day reading (while in a British commonwealth:)

• What I Learned From Ray Dalio (Morningstar)
• An About-Face for the Stock Market’s 5-Year Return (NYT)
• China Record Credit Growth Boosts Outlook for Economy (Bloomberg) but see Don’t blame squids, blame China (FT Alphaville)
• ‘Young Money’: How Wall Street Turns its Pups into Wolves (Fiscal Times)
• The Crushingly Expensive Mistake Killing Your Retirement (The Atlantic)
• What Americans Don’t Know About Science (The Atlantic)
• Information asymmetry, bad incentives and Taibbi (FT Alphaville)
• Harvard Professor Attacking Google Thrives as Web Sheriff (Bloomberg) see also The Plus in Google Plus? It’s Mostly for Google (NY Times)
• Microsoft v Microsoft (stratēchery)
• The front-group impresario (Columbia Journalism Review) see also Fight Over Minimum Wage Illustrates Web of Industry Ties (NY Times)

What are you reading?

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 President’s Day Reads”

  1. Bob is still unemployed   says:

    Postcards from Sochi: Summering with Stalin (

    “While Sochi is currently front page news as the world’s controversial Olympic host city, I thought we might take a look back at the “Florida of Russia”, when it was still a socialist holiday resort for Soviet workers hoping to experience a semblance of the utopian future they had been promised. …”

  2. VennData says:

    As a patriotic American I would support the end to President’s Day given the lawless so-and-so now occupying the White House. Look at this lawlessness!

    Join Ted Cruz, Mitch McConnell, John Boehner and businessman Richard Berman in the fight against President’s Day. and

    Our motto, “If you’re going to lawlessly make us all pay more to shiftless 47%-ers in so-called minimum wages, add another work day to the calendar!”

    We’re pulling 5-7% response rates on our outreach efforts using that pitch with an $88 average donation!

    We had slightly lower numbers for changing to to Reagan Day, but can’t square making the scullions work it. Your thoughts would be greatly appreciated. Tell Obama to stop fighting Reagan Day now!

  3. Bob is still unemployed   says:

    Scientists at Georgia Tech make discovery that has potential to influence studies in self-healing materials, modular robotics and adaptive networks (

    “…In particular, researchers examined how a species of South American fire ants collectively entangle themselves to form an active structure capable of changing state from a liquid to a solid when subject to applied loads. An ant’s swarm intelligence leading to continual construction could also be applied to modular robotics research or possibly inspire new methods for actively reconfiguring interconnections in complex networks….”

  4. willid3 says:

    should the FED and government focus on wage growth as opposed to inflation or even unemployment?

  5. willid3 says:

    things to ponder

    this tops them all

    “You get upset when you hear on TV that the government is running a deficit. It doesn’t bother you that you heard this on a TV you bought on a credit card in a home you purchased with a no-money-down mortgage.”

  6. willid3 says:

    the terrible French health care system

    and we just wished we had some thing like it

    cause it costs less. and gets more done and is more humane

  7. RW says:

    It’s Monday* and Robert Samuelson is confused about the economy.

    Robert Samuelson Is In the Dark

    …we have Robert Samuelson telling us this morning that “economists are in the dark.”

    Of course he is in large part right. Given its colossal failure in recognizing the risks of the housing bubble it would be reasonable for every university to shut down its economics program, recognizing that it has about as much use as a department of astrology. But Samuelson is shooting blanks when he tells us that Keynesian economics has been proven a failure by the downturn.

    …The loss in consumption due to the loss of housing bubble generated wealth was also around 4 percentage points of GDP. Throw in another 1 percentage point each for the reduction in state and local government spending and non-residential construction and you’re up to 10 percentage points of GDP, that comes to almost 1.7 trillion in today’s economy.

    If we sum that over 6 years we get more than $10 trillion and that’s before even factoring in any multiplier effects.

    …we have to keep Robert Samuelson away from the really big numbers, he might hurt himself. The reason [the Bush/Obama stimulus] wasn’t enough is because the shortfall in demand created by the collapse of the housing bubble was even bigger …

    *Samuelson is confused about the economy every other day too but that may be because the Post appears to be willing to pay him for writing the same column every day; not a bad gig if you can get it I guess.

  8. rd says:

    Re: Information asymetry and Taibbi

    The FT commentator skips over one minor detail.

    The major financial firms (many weren’t banks before the crisis, so can’t treally use that word) want the state protection against bankruptcy afforded regulated utilities with the profit-making freedom of hedge funds. The latter part of their desire resulted in a smoldering pile of C-note ashes in 2008. However, the Fed and rfire brigades showed up en masse and put out the fire and replaced their money courtesy of the US taxpayer. Many of the companies were not bank holding companies before the crisis but rushed to the trough when access to Fed money was fast-tracked for them. The whole rule of law thing is another parallel set of issues.

    So financial firms with the full faith and credit of the US government and the Federal Reserve behind them really should be pretty boring and should be limited in their activities. If they want to get into exciting areas outside of fundamental banking activities, then they should slip the bonds of bank holding companies and TBTF and fly free along with Soros and Dalio.