The endless parade of news never stops, which is why we bring you these hand-curated reads each morning (continues here):

• Vanguard takes keys to Pimco’s bond kingdom (Investment News)
• America Inc. Gets Schooled on Wages (WSJ) see also Overlooked Data Shows Japan Wages Rising (Real Time Economics)
• Why Bank of America probably won’t end up actually paying US$17B in mortgage securities settlement (Financial Post)
• Nobel economists say policy blunders pushing Europe into depression (Telegraph) see also Worse than the 1930s: Europe’s recession is really a depression (WonkBlog)

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.

12 Responses to “10 Thursday AM Reads”

  1. VennData says:

    Here’s how right winger media, like teh CHinese owned Forbes Magazine deals with things Here they are last January​:

    ​Hollande Converts, Proposes Austerity and Lower Taxes To Boost Growth in France​

    http://www.forbes.com/sites/jeffreydorfman/2014/01/18/hollande-converts-proposes-austerity-and-lower-taxes-to-boost-growth-in-france/

    ​But they haven’t gotten around to straightening it out.

    Hollande says Europe’s Austerity is wrong.

    http://www.plenglish.com/index.php?option=com_content&task=view&id=3008481&Itemid=1

    Stiglitz Says Stalling Euro Area Shows Dismal Failure

    http://www.bloomberg.com/news/2014-08-20/stiglitz-says-stalling-euro-area-shows-dismal-failure.html

    ​So, austerity didn’t work in Europe, while our aggressive stimulus has worked, millions of jobs created under Obama, record corporate profits, stock prices, and record GDP. And we certainly would be better if Europe had done the right thing, they didn’t which affects us by the way.

    But the Europeans are admitting it. Austerity didn’t work in the US Great Depression. But the GOP want it​, and if they don’t get it, they shut down government. Which affects us by the way.

    How anyone can support the GOP is beyond me. Must be an emotional thing, it’s certainly not logic.

  2. Robert M says:

    On Wages & Jobs

    “To make a difference in the broader economy, Cappelli argued, businesses need to bear more of the burden in training workers and giving them the experience that is so valued. “If employers would only do what they did 30 years ago, we wouldn’t have this problem,” Cappelli tells me, adding that the fear of having a competitor reap the rewards of your investment are overblown.”

    http://www.businessweek.com/articles/2014-08-19/its-not-a-skills-gap-u-dot-s-dot-workers-are-overqualified-undertrained#r=rss

  3. hue says:

    A Second Act For The Internet Of Things (TechCrunch)

    This: Why Atlantic Media is funding a social platform for sharing links, one at a time (Neiman J Lab) islands in the stream

    Slacktivism (Seth) Literacy (and unguided reading) (Godin)

  4. RW says:

    To add to the excellent articles in the Telegraph and at Wonkblog on the economic follies of European elites it’s worth pointing out that Austerianism isn’t just a European pox; far from it.

    NYT Condemns French for Believing In Economics

    There are tens of millions of people in the United States who completely reject the theory of evolution and believe that humans were created more or less in their current form in the recent past. Similarly, there are many people who completely reject modern economics and insist that countries cannot suffer due to a lack of demand. In their creationist economics view, the main reason that economies experience economic stagnation is government protections for ordinary workers. These economic creationists apparently control reporting on the French economy in the New York Times.

    A piece headlined “France acknowledges economic malaise, blames austerity,” effectively dismisses the idea that the economic malaise actually is attributable to austerity as a large body of economic research would suggest. ….

    Hawks Crying Wolf

    Charles Plosser of the Philadephia Fed; if you’ve been following these things, you know that Plosser has been warning about imminent inflation since the beginning of the crisis. …he’s doing it again. This is news?

    The real story here is the remarkable resilience of inflation panic: people who worry about inflation never seem daunted in the least by the repeated failure of their predictions. It’s an interesting question why.

  5. VennData says:

    I will agree with the WSJ that the Ricketts are morons. But not because of what the WSJ says.

    It’s because the idiot Ricketts are “modernizing” Wrigley, adding screens billboards. It’s like any other suburban monstrosity, soulless.

    http://online.wsj.com/articles/why-wrigley-field-is-suddenly-so-empty-1408578101

    Furthermore the WSJ is wrong again, they say the Tribune company didn’t want to win? Huh? The only time the Northsiders won was under the Tribune company.

    Why does anyone read the WSJ? If you listen to them you’d be cowering in cash, still lamenting the auto industry bailout and calling to bring back Bush.

  6. rd says:

    An overlooked aspect of the Ferguson crisis is the general criminalization of the population with high levels of arrests and incarcerations. Many of the arrests occur with little or no basis but can then impact that person’s ability to work for the rest of their life in this era of global databases. This is particularly a major issue with poor populations.

    http://online.wsj.com/articles/as-arrest-records-rise-americans-find-consequences-can-last-a-lifetime-1408415402?KEYWORDS=criminal+record

    http://blogs.wsj.com/washwire/2014/08/19/permanent-record-how-arrests-stick-with-tens-of-millions-of-americans/?KEYWORDS=criminal+record

    You know that HAS to be turning into a major economic issue when it makes the first page of the WSJ, which is not renowned for being soft on crime, unless it occurs in the financial sector.

    • rd says:

      BTW – the stop on the street that lead to the death that lead to the protests is probably due to the continued focus on the “broken windows” style of policing that was given the credit for stopping the crime wave in the 60s and 70s. However, science is showing that their actions may have just been correlation, not causation as the cessation of leaded gasoline probably played a bigger role and is a major reason why crime is quite low today.

      http://www.motherjones.com/environment/2013/01/lead-crime-link-gasoline

      However, politicians and police forces want to believe that they alone are the cause of the reduction and continue on with their practices that are likely causing as many problems as they solve. It is not politically popular nor good for funding to give credit to the USEPA for preventing crime.

    • Robert M says:

      “You know that HAS to be turning into a major economic issue when it makes the first page of the WSJ, which is not renowned for being soft on crime, unless it occurs in the financial sector.”

      STOP MAKING SENSE!

  7. VennData says:

    This has got to be the stupidest thing Rick Santelli has ever said (I know, hard to believe, but watch it)

    http://video.cnbc.com/gallery/?video=3000304219

    His argument is that since “the Fed” made fun of technical analysis, they are ignorant. And goes on to prove that technical analysis works with one example, that if you ask someone to knock on your door, they knock three times because three is a nice number.

    The guy is completely out of his gourd. CNBC HR are you there?

  8. Robert M says:

    It bears remembering this is a business write off-immediate or over time- protecting their earnings from predatory Wall Street. Drug Lords are undoubtedly jealous.

    “Including Thursday’s deal, which is the largest government settlement by a company in American history, Bank of America’s legal bill related to mortgage issues is approaching $70 billion”

    http://dealbook.nytimes.com/2014/08/21/bank-of-america-reaches-16-65-billion-mortgage-settlement/

  9. VennData says:

    Roche’s arguement against Nutting is “…If the Fed were to reverse QE tomorrow there would be no shortage of demand for T-bonds in the private sector…”

    If?

    One thing BR has taught is the illogical of holding up a counterfactual or a prediction of the future as fact. It’s no surprise right wingers have to resort to these tactics, but from the President’s poll numbers, it’s working.

    Bring back Bush!

  10. rd says:

    Now this is funny. Apparently, parts of the financial sector really do have parasites.

    http://blogs.wsj.com/moneybeat/2014/08/20/bedbug-scourge-comes-to-pimco/?mod=newsreel