My afternoon train reading:

• Millennials may be about to move out (Washington Post)
• Numbers and Narrative: Modeling, Story Telling and Investing (Musing on Markets)
• Nobel-winning economist Robert Merton says 401(k)s face a crisis. Here’s why. (MarketWatch) see also Index fund guru Bogle finds little traction on governance (Reuters)
• CNBC Viewership Drops To Lowest Since 1997 as Cramer Has Worst Month Ever (Zero Hedge)
• Crumbling U.S. Grid Gets Jolt in Smart Houston Power System (Bloomberg)
• Two-thirds of U.S. states haven’t recovered the jobs they lost in the recession (Real Time Economics)
• Reports of Radio’s Death Have Been Greatly Exaggerated (Priceonomics)
• Meet today’s right-wing political football: The Ex-Im Bank (LA Times)
• 8 Star Trek Technologies Moving From Science Fiction to Science Fact (Forbes) see also
• 2014 National Geographic Traveler Photo Contest, Part II (The Atlantic)

What are you reading?



Financial Sector Has Taken Over the Economy

Source: The Economist

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.

6 Responses to “10 Thursday PM Reads”

  1. William_H says:

    It didn’t dawn on me until recently that Jim Cramer bears a resemblance to Louis C.K.

  2. cschene says:

    Star Trek Technologies Moving From Science Fiction to Science Fact (Forbes) see also

    A :”wormhole” is a mathematical concept that requires a singularity to exist and singularities do not ever exist in nature: They are merely mathematical limits that we never actually reach.

  3. Bob A says:

    I’d like to nominate Cramer for one of the first civilian flights to Mars

  4. betheball says:

    Good to hear fewer retail investors are losing money due to the entertainer, I mean expert advice on CNBC. The rearview window experiment of investing failed during the .com implosion but alas we Americans are slow. RIP CNBC circa 2014.

  5. bear_in_mind says:

    I’m sure J. Cramer is a reasonably good person, as many have gone out of their way to put on the record. As per his role as a financial chimp/clown/stooge on CNBC, for me, it undermines any piece of “insight” he might mutter on the air. I treat all his buffoonery as blather because I just don’t have the time or interest to fact-check everything he spouts. I, like many others I suspect, have made the shift toward less noise and more signal. I wish him and everyone else at CNBC happy trails and hope something more constructive supplants the Himalayan pile of dung they left behind.

  6. bear_in_mind says:

    Oh, on the “Millennials May Be Moving Out” meme @ WaPo, that *may* come gradually, but I suspect most will hang-on as long at the parental teat is producing milk. That makes the situation a dual-front crisis because they’re eroding the already under-funded nest eggs of many Boomers. I suspect as many will hang around for mom/dad or grandma/grandpa to expire, hoping to absorb whatever wealth or equity remains in their property.

    But for all of the ink spilled on the Housing Boom/Bust, I don’t think most pundits, nor the public, comprehend just how much mortgage equity (read: debt) was extracted (read: incurred) from 1999-2008.

    The banks still cling to who knows how much (what +/-$2 trillion?) mark-to-fantasy mortgage debt which ensures that far more of the grant deeds to these houses will remain in the clutch of Big Banks versus being passed to heirs. It’s a sin, but it’s one borne of our own greed, ignorance and gullibility.

    P.T. Barnum would beam with pride if he could see what’s become of America’s middle class. He just didn’t live long to profit from it personally. The Walton’s, Koch’s, Corzine’s, Madoff’s, Blankfein’s, Fuld’s, O’Neal’s, Paulson’s, etc., all gleefully stepped-in and filled the void. Will the circle be unbroken?