Labor Day Weekend Linkfest

Here are some of the things I have been reading this week . . .

Hot_or_not_20080829202256
INVESTING & TRADING

The Reluctant Bulls (Barron’s)
http://online.barrons.com/article/SB122006077547885467.html
U.S. stocks probably won’t make much progress before year’s end. But they’re a better bet than most, say leading Wall Street strategists.

The Fannie & Freddie Question (WSJ)
http://online.wsj.com/article/SB122005562753985195.html  See also Fannie Mae and Freddie Mac: A Damage Report  (BusinessWeek) 

Monolines, Back on Track? (MarketBeat)   
http://blogs.wsj.com/marketbeat/2008/08/28/monolines-back-on-track/

Credit Seizing as Banks Balk at Lending (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aa9qsN2KBb0Y&

September: The horror story (Marketwatch)
http://tinyurl.com/6r3blq
Does September deserve its reputation as being bad for stocks?

Lehman Brothers in urgent talks on capital injection (Telegraph)   
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/31/cnleh131.xml

Value Investors Cut Losses (WSJ)
http://online.wsj.com/article/SB122005360806685021.html

50 SPX Stocks Down > 50%   
http://bigpicture.typepad.com/comments/2008/08/50-spx-stocks-d.html

THAT UNCERTAIN FEELING   (New Yorker)
http://www.newyorker.com/talk/financial/2008/09/01/080901ta_talk_surowiecki
James Surowiecki on Volatility and Herding

PERCENTAGE OF STOCKS ABOVE 50-DAY MOVING AVERAGES   
http://bespokeinvest.typepad.com/bespoke/2008/08/percentage-of-2.html

The four horsemen of the market (Marketwatch)
http://tinyurl.com/fourhorsemen

Web sites give tips for savvy investing   (SF Chronicle)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/08/16/BUD312ADRG.DTL

The FDIC Wants in on the Bailout Action…   
http://econompicdata.blogspot.com/2008/08/fdic-wants-in-on-bailout-action.html

Buybacks, Look Before You Leap (WSJ)
http://online.wsj.com/article/SB122005273251785043.html

Top 41 Untruths Perpetrated by Wall Street   
http://timinglogic.blogspot.com/2007/10/general-consensus-amongst-many-market.html

~~~

ECONOMY

Lagging Incomes Signal U.S. Economy Weaker Than GDP Suggests (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIWiIsk9fzl8&

The Death of the Credit Card Economy (Slate)
http://www.slate.com/id/2198942/

GDP: Lowest Inflation Rate in 5 Years (Barrons)
http://online.barrons.com/article/SB122004938061284705.html
(If no Barrons, go here)

Why Does It Feel Like a Recession?  (Econbrowser)
http://www.econbrowser.com/archives/2008/08/why_does_it_fee.html

UK Economy at 60-year low, says Darling. And it will get worse (Guardian)
http://www.guardian.co.uk/politics/2008/aug/30/economy.alistairdarling

From Sea to Shining Sea  (Barron’s)
http://online.barrons.com/article/SB122004922730684629.html
Bellwether states are falling off the fiscal cliff.

Don’t Turn Off Recession Siren Yet  (Real Time Economics)   
http://blogs.wsj.com/economics/2008/08/28/dont-turn-off-recession-siren-yet/   

Income and poverty: Size up your state  (CNN Money)
http://money.cnn.com/2008/08/29/news/economy/census_data_by_state/index.htm

Shallow Recessions, Shallow Recoveries   (New York Times)
http://www.nytimes.com/2008/08/30/business/economy/30charts.html

Japan offers economic stimulus package (FT)
http://www.ft.com/cms/s/0/66bd3d3e-757a-11dd-ab30-0000779fd18c.html

Is GDP Measuring Growth or Inflation?
http://bigpicture.typepad.com/comments/2008/08/are-you-measuri.html

~~~

HOUSING

Unthinkable Happens: Manhattan Apartment Prices Fall   (NY Sun)
http://www.nysun.com/business/unthinkable-happens-manhattan-apartment-prices/84900/

Unthinkable? Does anyone remember 1989-1996?

London Luxury-Home Prices Post First Drop Since 2003 (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601213&sid=a77Zr2.dxrGE&

Existing-home sales drop 13.2% as prices fall 7.1%
http://bigpicture.typepad.com/comments/2008/08/existing-home-s.html

June 2008 Case Shiller Housing Index Falls 15.9%   
http://bigpicture.typepad.com/comments/2008/08/case-shiller-ju.html

The next wave of mortgage defaults (CNN Money)
http://money.cnn.com/2008/08/12/real_estate/prime_defaults_price_drops/index.htm?postversion=2008081208

UK home sales boosted by desperate vendors  (FT)
http://www.ft.com/cms/s/0/97c97a08-75f4-11dd-99ce-0000779fd18c.html

•  Housing Is the Business Cycle   
http://bigpicture.typepad.com/comments/2008/08/why-so-much-hou.html

~~~

MEDIA/POLITICS/ENERGY

Ron Paul followers gathering for own convention (AP)
http://ap.google.com/article/ALeqM5hx2FpPC_FhKjPbaHrFdnNHtq0uZAD92SMT000

Gustav Could Wreck Economic Landscape  (Real Time Economics) 
http://blogs.wsj.com/economics/2008/08/29/gustav-could-wreck-economic-landscape/

A Biblical Seven Years (NYT) 
http://www.nytimes.com/2008/08/27/opinion/27friedman.html
Thomas Friedman on the US versus China . . .

Gallup Daily: Obama Stretches Lead to 8 Points   
http://www.gallup.com/poll/109933/Gallup-Daily-Obama-Stretches-Lead-Points.aspx

Next Treasury Secretary: Geithner, Bair?   (Real Time Economics)   
http://blogs.wsj.com/economics/2008/08/27/next-treasury-secretary-geithner-bair/

The Palin Stunner  (Washington Post)
http://www.washingtonpost.com/wp-dyn/content/article/2008/08/29/AR2008082902298.html

6 things the Palin pick says about McCain (Politico)
http://www.politico.com/news/stories/0808/12997.html

~~~    

TECHNOLOGY & SCIENCE

Graphjam: Pop Culture for People in Cubicles
http://graphjam.com/

Why is a 99p price tag so attractive?  (BBC)
http://news.bbc.co.uk/2/hi/uk_news/magazine/7522426.stm

Internet Traffic Begins to Bypass the U.S. (New York Times)
http://www.nytimes.com/2008/08/30/business/30pipes.html

Can Jerry Seinfeld save Microsoft? (Marketwatch)
http://tinyurl.com/seindfeldmsft
Seinfeld himself was featured in the original "Think different" TV ads that highlighted various figures and celebrities who supposedly think different(ly). If that’s not embarrassing enough,  Apple was the computer used extensively on the memorable "Seinfeld" TV series,  and Jerry is thought to be an Apple user

MIT Team Builds Nano sized "Virus-Based Batteries"   
http://www.popularmechanics.com/blogs/science_news/4279923.html

Purging The Stupid Finally, software that zaps the most obnoxious Web chatter. (Mark Morford, SF Gate Columnist)   
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2008/08/29/notes082908.DTL&feed=rss.mmorford

Court: U.S. can bar mad-cow testing  (USA Today)
http://www.usatoday.com/news/washington/2008-08-29-mad-cow_N.htm

~~~

MUSIC BOOKS MOVIES TV FUN!

Death Cab for Cuties’ Grapevine Fires  videos

"Classic Tracks": A brief history of some all time classic songs  (MIX) 
http://mixonline.com/classic-tracks/

List of problems solved by MacGyver 
http://en.wikipedia.org/wiki/List_of_problems_solved_by_MacGyver

‘100 Things to do before you die’ author dies at 47  (book at Amazon)  And, yes, he did all 100.

Pictured: The bungling burglar left dangling by his shoelaces after getting caught in victim’s bay window   (Daily Mail) 

~~~

That’s all from the last weekend of the summer, where we will be tuned into the US open.

Got a comment, suggestion, link idea? Or do you just have something on your mind? The linkfest loves to get email!  If you’ve got something to say, send email to thebigpicture [AT] optonline [DOT] net.

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What's been said:

Discussions found on the web:
  1. curmudgeonly troll commented on Aug 31

    Freeman’s relatives said he visited about half the places on his list before he died, and either he or Teplica had been to nearly all of them.

  2. Mark E Hoffer commented on Aug 31

    “”We are justly proud of the high wage rates which prevail throughout our country and jealous of any interference with them by the products of the cheaper labor of other countries. To maintain this condition, to strengthen our control of home markets and, above all, to broaden our opportunities in foreign markets where we must compete with the products of other industrial nations, we should welcome and encourage every influence tending to increase the efficiency of our productive processes”
    —Henry Towne, President of the American Society of Mechanical Engineers, 1911

    “What have we, as a society, learned about managing a high performance business? That is, other than much of the current fallacies, schemes and educational misinformation (often called a degree) embraced in the business world? There isn’t a Toyota way or a Ford way. There is the only way. The only way is that labor trumps capital because only labor is able to create sustainable capital. Or put bluntly, creating wealth by pushing around paper in the financial economy while de-emphasizing the rest of the economy is complete bullshit – a commonly held economic fallacy reinforced by an educational system creating curriculum supporting these fallacies and by Wall Street elitists having a self-fulfilling impact on the economy as capital plays a larger and larger role in economic growth. And the most important point for this to happen is that “you” believed it. Well, society is about to learn that lesson. Again. The hard way. Just as Ford is relearning that very fact. Again. The hard way. One day all companies will become enlightened to this fact. And, so will our educational system. And so will our society. In the mean time, enjoy the relearning process. Your teacher for this course is the economy.”
    http://timinglogic.blogspot.com/

    weblog by bdg123

    funny how 1911 preceded 1913..

  3. VJ commented on Aug 31

    CHEAP INEXPENSIVE JAZZ

    For your portable listening pleasure, Amazon has Oscar Peterson’s “Night Train” album available for download as a DRM-free MP3 for just $1.99:

    LINK

    1. “Happy Go Lucky Local (AKA Night Train)” (Duke Ellington) – 4:52
    2. “C Jam Blues” (Barney Bigard, Ellington) – 3:26
    3. “Georgia on My Mind” (Hoagy Carmichael, Stuart Gorrell) – 3:46
    4. “Bags’ Groove” (Milt Jackson) – 5:43
    5. “Moten Swing” (Benny Moten) – 2:55
    6. “Easy Does It ” (Sy Oliver, Trummy Young) – 2:45
    7. “The Honeydripper” (Joe Liggins) – 2:24
    8. “Things Ain’t What They Used to Be” (Ellington, Ted Persons) – 4:38
    9. “I Got It Bad (And That Ain’t Good)” (Ellington, Paul Francis Webster) – 5:08
    10. “Band Call” (Ellington) – 3:55
    11. “Hymn to Freedom” (Oscar Peterson Trio) – 5:38
    12. “Happy Go Lucky Local (AKA Night Train)” (Alt Session) – 5:00
    13. “Volare” (Francesci Migliacci, Domenico Modugno, Mitchell Parish) – 2:49
    14. “My Heart Belongs to Daddy” (Cole Porter) – 3:57
    15. “Moten Swing” (Rehearsal Session) – 3:36
    16. “Now’s the Time” (Charlie Parker) – 2:36
    17. “This Could Be the Start of Something Big” (Steve Allen) – 5:11

    * Recorded: December 16, 1962
    * Release Date: May 20, 1997
    * Label: Verve Records
    .

  4. johnnyvee commented on Aug 31

    Warning: Very depressing headlines…stay away from sharp objects.

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