My early morning pre-beach reads:

• Payroll surge fuels self-sustaining U.S. expansion (Bloomberg) see also The payrolls report is right, and GDP isn’t (MarketWatch)
• Estimating the impact of monetary policy normalisation on assets (Macrofugue)
• “Profitless” Amazon Myth Lives On Thanks To Lazy Financial Media (Peridot Capital)
• Why is it so difficult to teach people to manage money? (Vox) see also Wealth Effect: How to Rebalance Your Portfolio (WSJ)
• CEOs: The More You Pay Them, The Worse They Perform (Psy-Fi Blog)
• China Seeks Great Power Status After Sea Retreat (Bloomberg)
• The crucial FDA nutrition label battle you probably don’t know about, but should (WonkBlog)
• Ocean acidification is rising at its fastest pace in 300 million years (BV) see also 99% of the plastic we throw in the ocean has mysteriously disappeared (Quartz)
• 3D Robotics: Flying High With Drones (Inc)
• How Tourette’s-afflicted Tim Howard went from international ridicule to World Cup history (Morning Mix)

What’s up for Sunday?

 

 

US Jobs Report: 288,000 Positions Added

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.

10 Responses to “10 Sunday Reads”

  1. RW says:

    Nobel prize-winning economists take disagreement to whole new level

    Robert Shiller says mismatch between Eugene Fama’s findings and theories must make him feel like a priest who has discovered God does not exist.

    NB: “Whole new level” in this case apparently being impolite enough to point out in public that a school of thought in your discipline and those who support it would be wise to mark their beliefs to market or risk being reduced to the level of financial news letter writers AKA irrelevant.

  2. farmera1 says:

    Rail car loadings are very positive.

    The Association of American Railroads (AAR) today reported increased U.S. rail traffic for June 2014, with both carload and intermodal volume increasing compared with June 2013. U.S. Class I railroads originated 1,177,655 carloads in June 2014, up 3.6 percent (41,310 carloads) over June 2013. Year-over-year monthly carload growth averaged 4.9 percent from March 2014 through June 2014, the highest average for any four-month period since December 2010 through March 2011. Total carloads averaged 294,414 in June, the highest weekly average for June since 2008.

    http://www.businessinsider.com/rail-traffic-2014-7

  3. hue says:

    Rolling Coal: Conservatives who show their annoyance with liberals, Obama, and the EPA by blowing black smoke from their trucks. (Slate)

    Wrong! Deconstructing 5 Famous History Stories (Radiolab Blogland)

    Where Plastic Goes (Popular Science) I have one word to say to you (The Graduate)

    • intlacct says:

      I showed a young friend (30+ years younger) the Graduate after saying it was such a great movie.
      Sometimes the young consumer pans my recommendation (tastes differ especially across the years).
      He LOVED it. And the ‘Plastics’ grab is a perfect example.
      Dustin Hoffman’s deadpan.
      Not in that scene but the noise he makes (what do you call that, sort of what my dog makes when he is nervous) as he becomes uncomfortable with Mrs. Robinson’s ‘direct’ approach, so many awkward scenes.
      Anyway, this coming of age person loved it.

  4. krice2001 says:

    Barry,
    Enjoyed the link to “Estimating the impact of monetary policy normalisation on assets (Macrofugue)”. Very interesting take. And considering that I’m on vacation visiting family in the Chicago area and yet still reading your blog, tells you how much I like your blog.

  5. Jojo says:

    Bloomberg Businessweek
    Prices
    Inflation’s Up, Spending’s Down
    July 03, 2014

    In their effort to stimulate the economy, Janet Yellen and her Federal Reserve colleagues are finally succeeding in generating higher inflation. Now the Fed is waiting for stronger growth to spur wage gains so U.S. households can spend more money.

    Until then, workers are getting squeezed. The inflation measure tracked most closely by the central bank rose 1.8 percent in May from the previous year, the biggest 12-month gain since October 2012 and just shy of policymakers’ 2 percent goal, data released on June 26 showed. Yet after adjusting for inflation, consumer spending fell a second consecutive month.

    Americans are paying more to fill their grocery carts and fuel tanks. The cost of food climbed 0.5 percent in May from the prior month, the most since August 2011, according to the Labor Department’s consumer price index. Gasoline prices are at the highest level for this season in six years, AAA data show. The June 26 consumer spending report from the Department of Commerce showed clothing purchases dropped 0.9 percent in May from the prior month after adjusting for inflation. Americans spent 0.4 percent less on meals outside the home, and receipts at movie theaters slumped 10.3 percent.

    ….

    The bottom line: According to one survey, 49 percent of U.S. consumers say they need a raise before they’ll shop more.

    http://www.businessweek.com/articles/2014-07-03/u-dot-s-dot-inflations-up-consumer-spendings-down

  6. Christopher says:

    High bacteria levels shut down 13 Long Island beaches
    Beaches in Nassau County and Suffolk County were closed by health officials due to concerns about bacteria levels. Officials cited the heavy rains that generated stormwater runoff, causing bacterial levels to spike.
    The Associated Press
    Sunday, July 6, 2014, 12:02 AM
    http://www.nydailynews.com/new-york/bacteria-shuts-13-long-island-beaches-article-1.1856420

  7. barbacoa666 says:

    Follow the war and other events in Ukraine from the perspective of Kiev, here: http://www.kyivpost.com/. I thought the Russians would carve-off 1/2 to 1/3 of the country as an independent entity under Russian control. But the Ukraine army is making steady headway. And it appears the “bear” isn’t as strong as most thought.

  8. RW says:

    Wild and Crazy Times at the Low End of the Housing Market

    Floyd Norris had an interesting piece on the impact of investor purchased homes on prices at the lower end of the housing market. His takeaway is that investor purchased homes have made housing less affordable for many low and moderate income households.

    While this is partly true, by focusing only on the last couple of years the piece misses much of the picture. While investor purchases have pushed prices to unusual levels in many markets, in some cases they essentially put a floor on the market, helping to stabilize prices at levels that are consistent with longer term trends.

  9. rd says:

    My two big concerns about fossil fuel burning are entraining CO2 into the oceans reducing its alkalinity which can impact sea life and warming of the ocean floor and permafrost that could melt methyl hydrates releasing large quantities of methane and sulfide gases. Those two events, separately or concurrently, would be major game changers for life on the planet.

    However, the political tool to avoid those events may be the focus of nations to prevent sea level rise which would destroy coastal cities and farmland around the world. Sea level fluctuations are quite natural with huge variations over small geologic time periods – the seal level has risen and fallen hundreds of feet multiple times over the past million years but it is only in the past 5000 years that we have built fixed infrastructure dependent on static sea levels.

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