My morning pre-fishing reads (continues here):

• When Entertainment Passes for Investment Advice (Bloomberg View) see also Chief economists are the new marketers (WaPo)
• There’s ALWAYS a divergence (TRB)
• Hard Truth: Successful Investing Involves a Lot of Luck (Motley Fool)
• Global QE ends as China opens second front in bond tapering (Telegraph) see also Is global chaos the new normal? (LA Times)

Continues here

 

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.

9 Responses to “10 Thursday AM Reads”

  1. willid3 says:

    old economic models that dont really work
    or that workers bid up wages?? really?

    http://www.nakedcapitalism.com/2014/07/philip-pilkington-phillips-curve-timelessly-misleading.html

  2. RW says:

    Fed Watch: On That ECI Number

    The employment cost index is bearing the blame for today’s market sell-off. ….

    I understand why market participants might be a little hypersensitive to anything related to wages. Indeed, wage growth is the missing link in the tight labor market story. But I don’t think the Fed will react much to these numbers; they will place them in context of recent behavior, and in that context they are not much different than current trends. ….

    How Do You Spell “Inflation Hawks on the Warpath?” ECI

    The release of new data from the Employment Cost Index (ECI) has the inflation hawks really excited. It showed that compensation rose by 0.7 percent in the months from March to June. This is a sharp uptick from the 0.3 percent rate in the months from December to March. ….

    Fans of arithmetic can average together the 0.3 percent measure from the first quarter with the 0.7 percent measure from the second quarter and get (drum roll, please) ……. 0.5 percent.

    In other words, the 0.7 percent rise in the ECI kept exactly on the growth track we have been for the last four years.

    NB: Today’s selloff belongs in the “much ado about nothing” file but I really hope it kicks off a bigger drop cuz I’d like a better entry point on some names I’m tracking.

  3. VennData says:

    How DARE you insult Supply-Side, Austrian, Monetarist Alan Greenspan! Cancel my subscription to this blog immediately!

    Yes, it’s true I can no longer afford it because I have been listening to the Supply-Side, Austrian Monetarists.

    And a big shout out to Ronald Reagan for replacing Volker with Alan Greenspan.

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