10 Thursday AM Reads

Apparently, the “Great Circuit Breaker of China” rivals the Great Wall. Get ready for your negative 3% Thursday with our net positive morning train reads:

• 10 Bear Market Truths (A Wealth of Common Sensesee also The Global Bear Market Has Already Begun (Reformed Broker)
• Swedroe: Private Equity Not Worth Fees (ETF.com)
• Chipotle’s Indigestion (strategy+business)
• Apple’s Record-Breaking Holiday Season Saw Over $1.1 Billion In App Store Sales (TechCrunchsee also Apple: Something’s got to give (Fortune)
• The best 2 minutes of your day: The Joys of Watching a Bridge Shave the Tops Off Trucks (WSJsee also Another 5 minutes of 11Foot8 bridge crash compilation (You Tube)

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What's been said:

Discussions found on the web:
  1. VennData commented on Jan 7

    California Nuns Seek Protection for Cannabis Business

    http://www.msn.com/en-us/news/us/california-nuns-seek-protection-for-cannabis-business

    Oregon Considers Wall to Keep Out Angry White Men

    http://www.newyorker.com/humor/borowitz-report/oregon-considers-wall-to-keep-out-angry-white-men
    ​​
    NRA Refuses to attend Obama’s town hall on guns.

    http://www.cnn.com/2016/01/06/politics/nra-obama-gun-town-hall/

    Father outraged by TSA pat down of his 10-year-old daughter

    https://www.washingtonpost.com/news/storyline/wp/2015/01/14/why-the-cdc-still-isnt-researching-gun-violence-despite-the-ban-being-lifted-two-years-ago/

    Great another outraged American who doesn’t like the rule that’s there to keep people form using children to sneak toxic of flammable material onto a plane. Either give the guy some government-supplied weed to mellow him out or build a wall. Just no firearms for you.

  2. CD4P commented on Jan 7

    What a day & week to highlight this phenomena: “The best 2 minutes of your day: The Joys of Watching a Bridge Shave the Tops Off Trucks (WSJ) see also Another 5 minutes of 11Foot8 bridge crash compilation (You Tube)”

    What’s next, more dash cam videos from Russia showing crashes???

  3. rd commented on Jan 7

    There is a similar bridge in Onondaga County, New York. After a double-decker MegaBus attempted to go under it, resulting in multiple fatalities, they simply closed the road to all commercial traffic (similar as Saw Mill Parkway in NYC). They had tried just about every warning system imaginable but found that driver inattention and stupidity trumps warning systems.

  4. rd commented on Jan 7

    If the Federal Government isn’t supposed to own land, then the obvious solution will be a conservative free-market one where they auction the land off to the highest bidder. Of course, it will probably be some damned eastern tenderfoot hedge fund that will buy the land and then kick the Bundy’s etc. off of it. But they could probably be re-hired as “at-will employmewnt” cowhands working for minimum wage with no healthcare.

    The other obvious solution would be to track back original rights to the land, similar to Indian nations’ riparian first use rights cases: http://www.sackstierney.com/articles/indian-water-rights.htm The Paiute Indians are already expressing their annoyance in the ranchers’ lack of understanding of who was where first: http://www.nytimes.com/2016/01/07/us/paiute-indians-dispute-oregon-wildlife-refuge-protesters-standing.html?_r=0

    • willid3 commented on Jan 7

      well obviously we give it to the original owners. which would be the native inhabitants since they didnt sell it to any one

  5. RW commented on Jan 7

    Less Work, More Leisure
    The next Administration should make reducing work time a major focus. In addition to mandated paid sick days and paid family leave—proposals that have received some welcome attention thus far on the presidential campaign trail—policymakers should go much further and enact measures aimed at shortening workweeks and work years. Reducing our workweek and work years will lead to a whole host of benefits, including reduced stress and higher levels of employment. ….

  6. RW commented on Jan 7

    Intellectual property and the decline of the U.S. labor share
    … Labor and capital might have split up income at a constant rate for a while, but that’s just not true now.

    But what if the fact were never true? A new paper presented at this year’s Allied Social Science Associations meeting claims that the apparent stability in the share of income going to labor never happened. According to the paper, the decline in the U.S. labor share didn’t start in the 1980s or 2000s—it started right after the Second World War.

    Why has the labor share declined? The rise of intellectual property, it would seem. …

    NB: Government protection of intellectual property did not have to become protection of monopoly but even then it could have been offset with other policies including appropriate taxes. The fact that this did not happen is prima facie evidence of a government skewed to favoring economic rents, the unproductive use of capital, and naturally therefore the owners of said capital.

  7. VennData commented on Jan 7

    From above … U.S. banks pin Treasury market headaches on high-speed trading: Fed

    “A large share of Wall Street securities dealers believe that the growing presence of high-frequency trading firms… more than two-fifths of dealers that match clients with U.S. Treasury securities think the rise in high-frequency trading has led to wider bid-ask spreads and smaller quote sizes over the last five years, the Fed said in its quarterly survey of senior credit officers…”

    More Liquidity nonsense from people managing too much money (aka rich slow frequency traders) hate high frequency traders.

    So 60% of big banks don’t “believe” that HFTs are ruining markets.

    For the other forty percent of you big, fat asset gartherers USE LIMIT ORDERS!

    I don’t give a damn if billions have problems moving fast enough. Pay for liquidity if you want it you last run-to-the-government pansies. Get out of finance if you can’t handle it. The 60% of your competitors can.

  8. VennData commented on Jan 7

    Deadly Snits

    “…Something that strikes me, however — and which I don’t fully understand — is that when people like this turn to angry rhetoric, with at least a hint of violence, the trigger events tend to be trivial. There are plenty of real grievances that could be motivating working-class whites; but what sets them, or their would-be spokesmen, off are things like the belief that Obama is giving debt relief to Those People (which basically never even happened)…”

    http://mobile.nytimes.com/blogs/krugman/2016/01/05/deadly-snits/

    Obama hasn’t taken away anyone’s gun. He hasn’t ruined a single family farm. Ten million jobs will be created on his watch. We are swimming in oil. He set up a free market Health Insurance system the GOP said would ruin the nation.

    While in office so far the vast majority of terrorism is home grown Christian white gun toting abortion nuts and angry dweebs who need to work on their rap.

    The white emotionally stunted Republicans are acting like blushing Victorian bimbos whose corset was tightened too tight.

    My quarterly dividend payments are the money the rich GOP Media Machine financiers suck out of the dumb asses who want to blow the delicate job creators and take up a bigger share of the debt for themselves. Suckers. The Base are stupid Suckers

    We bomb with drones. Stop masturbating to “Boots on the Ground” Let Saudi and Iran blow the fuck out of each other and those candy assed leaders feel the effects of a glorious war against each other.

    Suckers. The Base are suckers.

  9. Jojo commented on Jan 7

    Oops! Looks like the FED better rescind that 0.25% interest rate uptick. [lol]

  10. Homepage commented on Feb 4

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