My afternoon train reading:

• I’d Choose Emerging Markets, Wouldn’t You? (Research Affiliates) see also Japan’s Abe Is the World’s Best Leader (Bloomberg View)
• Money Buys Happiness, and Other Quick Lessons About Life Satisfaction in America (Slate)
Kessler: High-Frequency Trading Needs One Quick Fix (WSJ)
• Larry Summers’ Attempt to Rewrite Cramdown History (Credit Slips)
• Commercial Real Estate Didn’t Boom and Bust. Is This Why? (Businessweek) but see IMF sounds global housing alarm (FT)
• MuckReads Podcast: The Peril of Whistleblowing on Wall St. (ProPublica)
• Is the U.S. military wasting taxpayers’ money in Afghanistan? (CBS News) see also UglyGorilla Hack of U.S. Utility Exposes Cyberwar Threat (Bloomberg)
• Dr Strobe: the man who stopped time and electrified photography – in pictures (The Guardian)
• Conservatives are from McMansions, liberals are from the city (WonkBlog) see also Eric Cantor’s Defeat Exposed a Beltway Journalism Blind Spot (NY Times)
• ‘Man on the Run’ Excerpt: Paul McCartney Threatened to Kick Linda Out of Wings and More (Billboard)

What are you reading?



Investors Struggle to Digest Fresh Fears

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.

6 Responses to “10 Monday PM Reads”

  1. ilsm says:

    US military is filled with waste from the pentagon through Afghanistan and back to all the troughs it fills around the US and world.

  2. willid3 says:

    dirty wall street and corporate sector?

    [I]t really isn’t much of a secret that Wall Street and corporate America like the unemployment rate to be a little high. But it is “dirty” in the sense that it is unspoken. Higher unemployment keeps wage growth down, and helps with margins and earnings – and higher unemployment also keeps the Fed on the sidelines. Yes, corporations like to see job growth, so people have enough confidence to spend (and they can have a few more customers). And they definitely don’t want to see Depression era unemployment – but a slowly declining unemployment rate (even at 9%) with some job growth is considered OK.

  3. flocktard says:

    As I’ve already commented on Twitter, the cramdown controversy is utter bullshit. Why? Oh, just the usual: empirical evidence.

    First, many banks performed their own cramdowns with borrowers, and the re-default rate hovered around 60%. In the meantime, about 90% of underwater mortgages are serviced on time, and without problems. Once again, as has been the case since 2008, people cannot look at the housing meltdown without conflating credit issues with valuation issues, and until people learn how to parse through those two inputs, the analysis will fail, the wrong conclusions will be made, and the narrative will be false.

    Foreclosures come from a catastrophic blow to family income. A bank could forgive close to HALF a mortgage, and it will not save the borrower, and that’s why the re-default rates were so high. A couple of hundred bucks a month in forgiveness doesn’t replace a lost breadwinner’s job. The underwater mortgages get paid on time, because those borrowers, while their timing may have been poor, more than likely qualified handsomely for the mortgage they took out. Professor Sufi doesn’t respond to my entreaties, but this is to be expected. Once you stake out a (public) position, all of the evidence in the world can’t change a mind.

  4. catman says:

    Reread your Smedley Butler. War is a racket.

  5. formerlawyer says:

    Disruption, as a business model, disrupted?

  6. CD4P says:

    Well, it didn’t take too long for someone to re-hash sex & The World Cup: