Some reads for your midweek morn:

• How the wealthy resemble sociopaths: Peculiar Traits of Rich People (Motley Fool) see also Why Rich People Feel Poor (Bloomberg)
• When Will The Fed Change Its Reaction Function? (Wonky) (Tim Duy’s Fed Watch)
• The first down-quarter for earnings since 2012? (Reformed Broker)
• Gold: In search of a new standard (FT) but see China is losing its taste for gold (WSJ)
• How Innovation May Make Wall Street Less Efficient (Real Time Economics)
• Regulators to unveil plans to step up checks on stockbroker records (WSJ)
• Cayman Islands are where tens of billions of dollars don’t get declared to IRS (Quartz)
• This is Amazon’s smartphone (BGR)
• Why Scientists Increasingly Need to be Salesmen (Priceonomics)
• America and Russia arm the world, in four charts (Vox)

What are you reading?


Sovereign Yields Continue Lower

Source: Bespoke Investment Group


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 Wednesday AM Reads”

  1. swag says:

    The spooky world of the ‘numbers stations’

  2. RW says:

    I found myself arguing with some parts of this Thomas Piketty interview even while agreeing with its main thrust. Good brain exercise, particularly in light of how influential Piketty’s work is becoming, but now I have to read the book.

    Occupy was right: capitalism has failed the world

    “I began with a straightforward research problematic,” he says in elegant French-accented English. “I began to wonder a few years ago where was the hard data behind all the theories about inequality, from Marx to David Ricardo (the 19th-century English economist and advocate of free trade) and more contemporary thinkers. I started with Britain and America and I discovered that there wasn’t much at all. And then I discovered that the data that did exist contradicted nearly all of the theories including Marx and Ricardo. And then I started to look at other countries and I saw a pattern beginning to emerge, which is that capital, and the money that it produces, accumulates faster than growth in capital societies. And this pattern, which we last saw in the 19th century, has become even more predominant since the 1980s when controls on capital were lifted in many rich countries.”

    So, Piketty’s thesis, supported by his extensive research, is that financial inequality in the 21st century is on the rise, and accelerating at a very dangerous pace.

    NB: Piketty is clearly capable of more nuance than the headline suggests which is why even an edited interview like this can offer valuable insight into his thinking; e.g., if I understand him thus far the real error, or failure if one likes, lay in assuming capitalism was capable of solving or even ameliorating a problem like inequality in the first place.

  3. hue says:

    Brisket Ain’t Cheap (TMBBQ) Attention Shoppers: Fruit and Vegetable Prices Are Rising (WSJ)

    Perception & Reality and the Death of Journalism (Esquire) We are drowning in data about readers and attention, but which metrics really matter? You won’t like the answer (GigaOm)

  4. willid3 says:

    will British unemployment rate save the prime minister

    he has to hope it will

  5. TDHawk says:

    When you have or are aiming for a strategic vision, you would have to disregard more immediate emotional reactions in favour of longer term results. I’ve read an old HBR article on narcissistic leadership that seems to paint the entrepreneurial personality, rich people, or CEOs well. In fact, most people who found companies have this kind of personality. Now this is not including any mental disorders.

  6. Conan says:

    Major Study Finds The US Is An Oligarchy

    The US government does not represent the interests of the majority of the country’s citizens, but is instead ruled by those of the rich and powerful, a new study from Princeton and Northwestern Universities has concluded.

    Read more:

  7. thomas hudson says:

    bloomberg putting up $50m to combat nra.

    that is less than a dollar for every gun owner in the country, but it is his own money so have at it.

    Pointing to his work on gun safety, obesity and smoking cessation, he said with a grin: “I am telling you if there is a God, when I get to heaven I’m not stopping to be interviewed. I am heading straight in. I have earned my place in heaven. It’s not even close.”

  8. rd says:

    In celebration of yesterday as Tax Day, I would like to make the observation that, each year, I am astonished to find that my children have more complex tax return than my wife and I even though they have less than 10% of our gross income. Our tax returns are simple because our income is all wage and salary that gets hammered by payroll and income tax with just a couple of major deductions (mortgage/property tax) while they have all sorts of things going on with being classified as self-employed along with some other complexities. Even the AMT forms have gone away for us as the number of dependents has declined. One of my kids is even going to have to do quarterly fillings later this year.