Hey now, its Friday!  (continues here)

• 10 Macro Indicators That Point to No Recession (Pragmatic Capitalism) see also How the Recession Reshaped the Economy, in 255 Charts (NY Times)
• Convertible Bonds: Nice Yield, Lower Risk (Barron’s)
• SEC Will Keep Thinking About High Frequency Trading (Bloomberg View) see also SEC targets dark pools, high-speed trading in rule proposals (WSJ)
• What our reasons for moving say about the state of the economy (WonkBlog)

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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.

5 Responses to “10 Friday AM Reads”

  1. RW says:

    A couple inconvenient observations WRT conventional wisdom on ‘structural’ unemployment.

    Where’s the Automation in the Productivity Accounts?

    … The trend suggests that the pace of productivity growth has decelerated since the first half of the 2000s and this begs an important question. There’s considerable speculation that the pace at which machines are displacing workers has accelerated. I keep hearing about “the end of work” based on the assumption that the pace of labor-saving technology—robots, AI—has accelerated.

    Maybe it has—there’s lots of good anecdotes to that effect, most recently that geeky-looking Google self-driving car. And data being the plural of anecdote, I’m certainly open to the possibility. But the robots-are-coming advocates need to explain why a phenomenon that should be associated with accelerating productivity is allegedly occurring over a fairly protracted period where the trend in output per hour is going the other way. …

    If Employers Can’t Find Workers With the Right Skills Why Don’t They Try Raising Wages?

    … If employers were actually having difficulty finding workers with the necessary skills we should expect to see occupations or industries in which wages are rising rapidly. That is how employers attract workers for positions they have trouble filling.

    In fact, there are no major sectors of the economy in which wages are rising rapidly. This means that either there is no serious problem of skills mismatch or that employers are completely clueless about basic economics. …

    NB: As the second article points out later, the evidence of recent years suggests we can’t rule out complete cluelessness, and the continued avoidance of the most straightforward explanation for slow employment growth — slow/low demand — suggests lack of a clue may indeed be a factor to consider in analysis.

    • Iamthe50percent says:

      That’s a very good point about wages, also it bolsters the argument against a real shortage. IMHO the supposed shortage is just an excuse to get unlimited visa for more Asian indentured servants, aka H1-B’s.

  2. ilsm says:

    Thanks for the link to D-Day beach art!

    For those interested NOVA did an very good episode on sunken equipment and ships off the Normandy beaches.


    I will read Rick Atkinson’s (who was interveiwed in the episode) third book on the US Amry in the European Theater again starting today.

  3. Robert M says:

    Despite the number of people working returning to 2008 levels, which have to seen as higher than normal(?) given the record credit expansion, wages remain below norms based on productivity