Yesterday was my bad, for mentioning what a “quiet, uneventful week” it was; no matter, its Friday, and that means the weekend is almost here. Finish the week strong with our morning train reads:
• May 1994 – What Happened When the Fed Last Diverged With Europe (Bloomberg) see also Boom times for US corporate bond sales (FT)
• The Economy Is Better — Why Don’t Voters Believe It? (FiveThirtyEight)
• What Interest Rates Can Teach Us About Behavioral Biases (A Wealth of Common Sense)
• SEC Nominee Works at Think Tank Dedicated to Blocking SEC Regulation (The Intercept)
• Pethokoukis: A last hurrah for Republican tax slashers (FT) see also What Republicans Get Wrong About the Gold Standard (Real Time Economics)
Be sure to check out our Masters in Business interview this weekend with David Rosenberg, chief economist at Gluskin Sheff.
Trump, Carson, and Cruz may have turned Republican voters against the party
http://www.businessinsider.com/trump-carson-and-cruz-may-have-turned-republican-voters-against-the-party-2015-11
May have?
Look the guys who want tax cuts for the rich and only placate The Base with rhetoric using marketing dollars talking about ‘flag burning’ and ‘religious liberty violation’ have turned The Base against the Wall Street monied interests. Bush’s giveaway to the banks with no cut in pay turned (and no prosecutions) turned away The Base.
How else would it be so easy for the crazies leading the presidential primaries?
At the Ayn Randian Free-for-all party, the top rich .01%ers care about themselves, not the Base. That’s what Ayn Rand is all about.
Good luck with those Congresisonal primaries right wiingers. The Freedom Caucus will grow and they will placate the 01%ers with talks about tax cuts, but you .01%ers won’t get them and you 01%ers will be paying for it!
ROFL. It’s great how Obama split the GOP after their nutty government shutdowns. Now (and for a long time) so-called Republicans will be paying the price.
Split off into the Tea Party and be done with it. The Base as about as much in common with Wall Street as the man on the moon.
Huge Valeant Stake Exposes Rift at Sequoia Fund
Had a third of their fund in a no-R&D drug seller.
http://www.nytimes.com/2015/11/13/business/huge-valeant-stake-exposes-rift-at-sequoia-fund.html
We definitely need low tax rates to encourage these wizards. Extra low carried interest rates too.
“..Despite this scary encounter, Perrette, a well-known civil rights advocate, called for change in the community. The actress used her experience to shed light on the lack of treatment for those with mental health issues and minimal housing for the homeless…”
http://www.eonline.com/news/715566/ncis-star-pauley-perrette-tweets-about-scary-encounter-with-a-homeless-man-i-m-only-grateful-to-be-alive
All she needs is a free market solution. A forty five. Two. And plenty of ammo. It worked in the John Wayne movies. There was no state-subsidized shelters in the Wild West. What kinds of man is she?
Barry, can you explain to me why responsible businessmen don’t call out the clown car of Republican candidates that keep acting like the (imagined) threat of inflation and undocumented workers in service jobs are imperiling the country? If anything, deflation seems to me to be a real risk. And why does the Fed speak with about 10 voices? Maybe we need Bill Belichick as Fed chair; that would keep keep the “noise” down.
Am I crazy, or an astute contrarian, to think the recent developments in the energy sector have created a buying opportunity for me?
The Vanguard effect on ETF and mutual fund fees: http://www.marketwatch.com/story/the-vanguard-effect-on-fund-feeds-in-one-handy-table-2015-11-13
It will be interesting to see how the fund industry executives and managers survive the free market with their income intact over the next decade.
since there was that ‘surprise’ cut in SS benefits, just how much trust can any one have that Congress critters wont do that again, to any and all that benefit from the program (basically the 99%).
http://www.forbes.com/sites/janetnovack/2015/11/12/after-budget-deals-surprise-cuts-can-boomers-really-count-on-social-security/
Apparently children of Russian billionaires may not win the genetic lottery. Since the wealthy have not had enough time to rent their government so that it will write laws facilitating inter-generational wealth transfer (like the US), it will likely be Putin who decides the succession plans for ownership of Russia’s big corporations:
http://www.bloomberg.com/news/articles/2015-11-13/putin-s-gilded-cage-russia-s-rich-are-facing-cash-out-conundrum
Be careful when you buy off-brand devices, whether from Amazon or discount sites. Once you connect such devices to your network, all your other devices could get compromised with malware.
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Amazon vendors flog thousands of rooted, malware-laden tablets
Because getting infected in the after-market is so tedious
13 Nov 2015 at 07:31, Darren Pauli
Amazon is unwittingly acting as the retail channel for thousands of Android preloaded with nightmare advertising malware and with operating systems rooted, users and security boffins allege.
…
http://www.theregister.co.uk/2015/11/13/amazon_vendors_flog_thousands_of_rooted_malwareladen_tablets/
Cheating in Online Classes Is Now Big Business
The growth in courses available on the web has led to a growth in paid services that will impersonate students and do their work for them.
Derek Newton
Nov 4, 2015
When I was in high school, I cheated pretty regularly. And I mean all the time. I remember writing chemistry formulas on small bits of paper that I then sealed to the bottom of my dress shoes with transparent tape. When I crossed my legs, the information I needed was literally in my lap.
That was before education went online. Cheating, it seems, has gone with it. Today, entrepreneurs and freelancers openly advertise services designed to help students cheat their online educations. These digital cheaters for hire will even assume students’ identities and take entire online classes in their place.
…
http://www.theatlantic.com/education/archive/2015/11/cheating-through-online-courses/413770/
Time for GOP panic? Establishment worried Carson or Trump might win.
By Philip Rucker and Robert Costa
November 13
Less than three months before the kickoff Iowa caucuses, there is growing anxiety bordering on panic among Republican elites about the dominance and durability of Donald Trump and Ben Carson and widespread bewilderment over how to defeat them.
Party leaders and donors fear that nominating either man would have negative ramifications for the GOP ticket up and down the ballot, virtually ensuring a Hillary Rodham Clinton presidency and increasing the odds that the Senate falls into Democratic hands.
The party establishment is paralyzed. Big money is still on the sidelines. No consensus alternative to the outsiders has emerged from the pack of governors and senators running, and there is disagreement about how to prosecute the case against them. Recent focus groups of Trump supporters in Iowa and New Hampshire commissioned by rival campaigns revealed no silver bullet.
…
https://www.washingtonpost.com/politics/time-for-gop-panic-establishment-worried-carson-and-trump-might-win/2015/11/12/38ea88a6-895b-11e5-be8b-1ae2e4f50f76_story.html
for the largest spender on health care
http://qz.com/548625/a-freak-accident-this-summer-changed-this-top-tech-executives-approach-to-his-business/
we dont get the best results. and some of that is self inflicted. the lack of communication among doctors for examplec
retail sales are slowing
http://qz.com/549103/its-not-just-department-stores-us-retail-sales-are-slowing-in-general/
maybe its just me, but maybe a certain party has scarred the consumer. and they have pulled in their horns in preparation for doom?
how does this compare to Benghazi?
http://qz.com/549211/two-months-before-911-the-bush-administration-was-told-the-attacks-will-be-spectacular/
a wall street dictionary of terms
http://www.pragcap.com/a-useful-wall-street-dictionary/
ex
EFFICIENT MARKET HYPOTHESIS, n. A theory in financial economics believed only by financial economists. In theory, the market price is the best estimate at any time of what securities are worth; it immediately incorporates all the relevant information available, as rational investors dynamically update their expectations to adjust to the latest events. In practice, however, investors either ignore new information or wildly overreact to it, regardless of how relevant it is. Even so, that doesn’t make beating the market easy, because you must still outsmart tens of millions of other investors without incurring excess trading costs and taxes. As behavioral economists Meir Statman puts it, “The market may be crazy, but that doesn’t make you a psychiatrist.”
16 murdered in January. 160 in November. Lots of immigration from the Middle East: what could possibly go wrong?