Some Sunday morning brunch reads:

• Taking a Ride on Private Equity (WSJ)
• Bye-Bye Buybacks? Rising markets make stock buybacks riskier (Barron’s)
• The Case Against the Bernanke-Obama Financial Rescue (Upshot)
• Manhattan Home Sales Are NOT 80% All-Cash (They Are 45%) (Miller Samuel) see also Two Housing Markets for the Two Americas (Fiscal Times)
• What Tim Geithner doesn’t know about Social Security is shocking (LA Times)
• How Wall Street recruits so many insecure Ivy League grads (Vox)
• Chipotle’s prices are rising faster than expected, but customers don’t care (Quartz)
• 16 Leadership Lessons from a Four Star General (Farnam Street)
• Thousands of Toddlers Are Medicated for A.D.H.D., Report Finds, Raising Worries (NY Times)
• 2014 BMW i8 Review (Automobile Magazine)

What’s on the menu?



Interest Rates Sink Globally in Expectation of Stimulus

Source: WSJ


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.

18 Responses to “10 Sunday Reads”

  1. VennData says:

    Goldman Just Hacked Its Forecasts For US Housing And GDP Growth

    ​”…Lately, various housing-market metrics such as existing-home sales, new-home sales, and mortgage applications have all been flagging. We also recently learned that the U.S. homeownership rate was at a 19-year low, and some experts think it’ll never come back.​..”

    ​And what the commissariat doesn’t realize is that this is a GOOD thing.

    The wasteful resource allocation of hefty McMansions in the ex-burbs is over. Next up? SUVs If you wanna live the pickup and gun lifestyle, It’s gonna cost you Jethro.

  2. VennData says:

    From “The case against the rescue” in Upshot NYT

    “…Mr. Mian began by calling Equifax, the credit bureau, to ask whether he could buy data showing the debts of individual households, stripped of identifying information. He spoke with a series of flummoxed salespeople who gradually referred him to the head of sales — a woman who happened to live in Hyde Park, a few blocks away in Chicago…”

    So large data sets of private information is a GOOD thing for understanding the economy.

    I guess the privacy nuts, who don’t want “the government” knowing they ordered Chinese take out last week are holding up the analytics we need to understand what is going on. Imagine if we had that level of details for health outcomes? For eating statistics? Childhood rearing? Transportation usage? etc… etc…

    The privacy nuts that use Amazon to buy stuff with their Visa over their Comcast internet demand protection so “The government ” doesn’t know they bought a bag of imported decaf. Oh well. I guess will never find out that disease lurking inside of you.

    • BusSchDean says:

      Well said. Pretty much nothing has changed since Hobbes figured us out.

    • VennData says:


      And wait until the Chinese put their muscle behind a seamless epayment monopsony since US banks refuse to give an inch of their precious space ala the classifieds, record companies etc. Cuz you don’t want “anyone” to know you bought a stripper pole… except Amazon, Visa, Google, and your phone carrier.

      “All of your payments will go through us.”

    • Robert M says:

      Why are you forgetting Mr Mian asked for the information stripped of identifying information? Privacy is about you as the individual not as an aggregate.

  3. VennData says:

    Buffett’s Berkshire Discloses $528.7 Million Verizon Bet

    The Oracle likes businesses with moats. Do we really want the communication providers to be more moated? Congress and the FCC are you listening? Can you listen?

  4. DeDude says:

    Really damaging information on Geithner.

    He did not understand that Social Security is funded by its own taxes with a huge surplus invested in a trust fund – and by law cannot run a deficit.

    He did not think: “that a much larger program focused directly on housing could have a material impact on the broader economy”. Does he not understand that the consumer class is the foundation of the American economy and that leaving normal people saddled with a huge debt will hold back the economy. Can he be that stupid?

    The fact that similar amounts of money were lost in the stock market crash and the housing crash (but only the housing crash caused a huge recession) actually support the idea that the consumer class is the main driver of the economy. A stock market crash almost exclusively affect the rich and have only minor effect on the consumer class. In contrast the housing class affected the whole middle class and took away their confidence and ability to spend.

    Geithner is clearly part of the Wall Street bankster echo-chamber. Question is whether he is one of those (History majors) who are moronic enough to believe in that crap or he just spews it out because it serves the plutocrats and he doesn’t want to bite the hand that feeds him.

  5. BusSchDean says:

    The LA Times piece on Geithner lays out the enduring paradox of how a program regularly under public review for more than a half a century can be so poorly understood. Oh, and how politics intentionally perverts and undermines shared understanding.

  6. tigerpuff says:

    Geithner was referring to the payroll tax holiday was he not? During the payroll tax holiday SS WAS contributing to the deficit

  7. ottnott says:

    More on Geithner.

    Felix Salmon: Tim Geithner, unreliable narrator

    There are two big worrying things here. The first is that Geithner didn’t see the crisis coming at all, and indeed was something of a cheerleader for all of the dangerous activities that the banks were getting up to. The second, which is just as bad, is that with hindsight, Geithner sees this speech as being prescient and heroic — that it’s something to be proud of, rather than sheepishly ashamed of.

  8. hue says:

    Editing While Female: Field notes from one of journalism’s most dangerous jobs. (Politico) can’t have her cake and edit too

    Is it really a tech bubble, or is it something else? (GigaOm)

    All the Study Subjects Have Gone to Prison (Pacific Standard)

    new color scheme coming? my TBP phone app is black and red

  9. Jojo says:

    Thursday, May 8, 2014
    A Godzilla Binge-Watching Continuity Guide

    Click image for larger version

    The Internet’s buzz engines are fully engaged with the upcoming release of Godzilla 2014, and to guide you through the morass of blog posts and listicles, I have created a chart that shows the continuity of all Godzilla movies ever made, as well as some other kaiju flicks whose continuity significantly overlaps with the Godzilla series.

    If you’re looking to binge watch some classic Godzilla prior to the new movie’s release, this should help you keep the stories and the ordering straight. Start at the top and follow the arrows down to get a continuous story passing through multiple sequels.

    Movies (like Mothra and Rodan) that are not directly or indirectly sequels to Godzilla 1954 feature other monsters that make appearances in the Godzilla movies they are linked to.

    You can generally get by skipping around this list, or skipping some movies within any of the lines of continuity, as long as you keep them roughly in order. Godzilla isn’t Keyser Soze — you don’t have to keep track of all the details to have a good time.

  10. formerlawyer says:

    The dumbing of American – view from the North

    In theory there is no difference between theory and practice. In practice there is. – Yogi Berra
    On libertarianism:

  11. howardoark says:

    Geithner is correct. Social Security (SS) is set to be paying out more money than it takes in and hence the deficit is going to go up. SS has a large surplus and that surplus has been drawing interest for decades and the books show that SS will be solvent until mid-Century and I guarantee Geithner knows that too. But starting shortly, if it hasn’t already, Congress will either have to borrow money to pay back the SS Trust fund or take money from other programs (defense, National Parks, transportation, et cetera) to pay benefits, raise taxes on working people or renege on their promises to some portion of (or all) SS recipients. The only way that the deficit won’t go up is if Congress raises taxes on Gen X and the Millennials to support the Baby Boomers and I don’t see that happening.

    • DeDude says:

      No the national debt will not be changed by social security cashing in part of its trust fund. The part of the national debt that was owed to the social security trust fund in the form of special treasuries, will have to be converted to regular (fully tradable) treasuries. The actual true national debt will not change at all in that transaction of one type of debt into another type of debt. Yes for the morons who have excluded the debt owed to trust funds when they calculated “national debt” numbers; their mislabeled and deceptive “numbers” will increase – but the actual real national debt will not change whatsoever even if social security cashed in all its treasuries forcing the government to reissue that debt as regular treasuries.