Futures look to regain most of yesterday’s sell off — kinda just like yesterday’s futures looked (didn’t work out too well). And, our morning train reads:
• For Bond Investors, Ignoring Expert Advice Has Been Profitable (NYT) see also Investors Shift Bets on Fed Rate Increase (WSJ)
• A Dozen Things I’ve Learned from Tom Murphy About Capital Allocation and Management (25iq)
• No growth or a fear bubble? (Medium)
• Billionaire Paulson Hit by 2014 Losses; Advantage Plus Fund Declines 36% (Bloomberg) see also How Meredith Whitney’s American Revival Sputtered in Debut Year (Bloomberg)
• Oil to Put Chill on U.S. Earnings Season (WSJ)
Obama Flunks Community College
“…High dropout rates are not all the community colleges’ fault. Many students arrive unprepared or are distracted by job and family responsibilities. Tuition, on the other hand, is usually not the biggest obstacle to getting a degree…”
http://www.bloombergview.com/articles/2015-01-12/fix-community-colleges-before-giving-free-tuition-to-all
Based on what? In Europe where people have “family and jobs” problems.
This is just a made up bunch of nonsense, one of the WSJ or Fox News “…Throwing money at the problem…” non-arguments.
Climate Change-Denying Senator Ted Cruz Will Oversee NASA
http://techcrunch.com/2015/01/12/climate-change-denying-senator-ted-cruz-will-oversee-nasa/
Thank the Flying Spaghetti Monster (see what I did there, Ted?) for Elon Musk.
And BTW, gotta love this “market’s” ability to price in QE over and over and over again and ignore everything else. I predict the next step in this farce is for Aunt Yellen to get her own Twitter account where our illustrious business media and the most expensive diagonal-up algos money can by will parse her every word. Can’t you see it now: “I had a great breakfast this morning.” => DOW up 1000 points.
Speaking of the science of climate change new evidence suggest that Mayan civilization was destroyed by drought and that this drought was caused by a disruption of tropical winds. Many scientist believe that these tropical winds have a far greater effect on the climate than CO2 emissions.
http://www.businessinsider.com/end-fall-demise-mayan-civilization-new-evidence-2015-1
Now If only Al Gore could have been born earlier he could have invented the internet and saved the Myans.
So you selectively support the scientific method? That’s not hypocritical in the least.
Here’s the wonderful thing about the scientific method. Better theories invariably replace worse theories. That’s called progress. Society progresses by responding to the better theories. When the vast majority of specialist, highly trained climate scientists rally under your “tropical winds” theory, I will come around.
not just the Mayans, studies show that what caused Rome’s collapse what a major drought. hard to feed millions if you dont food and water. also hard to have much of an army, and it makes the ‘barbarian’s much more desparate. also tendsd to destroy ones economy especially if its 99% agriculture
Willid, The Huns moved west pushed by the Mongol population boom in the steppes. Maybe Rome had a drought but to the Hun and Goth it looked like the garden oe Eden.
What everyone gets wrong about Charlie Hebdo and racism (Vox)
Among the Disrupted (NYTimes) “Amid the bacchanal of disruption, let us pause to honor the disrupted. The streets of American cities are haunted by the ghosts of bookstores and record stores, which have been destroyed by the greatest thugs in the history of the culture industry …”
Response to Marc Andreessen on Secular Stagnation (larrysummers.com) Andreessen really knows how to communicate, navigate his book
Dog Rides Bus Alone (AP:YouTube) can she order an Uber?
Ted Cruz in charge at NASA
http://www.commerce.senate.gov/public/index.cfm?p=PressReleases&ContentRecord_id=8452ed0b-18be-4057-a376-babfd31322cb
Hooray! Jack Welch’s man will be in charge of space exploration!
Will we turn away form the Heavens and plan a manned mission to unearth Hades?
Just shut it down!!!
Anyone notice how all the headlines this morning said the “markets” were rallying on Alcoa earnings? Last time I checked, AA was down over 1.5%
ZeroHedge is home of the lunatic fringe, but they occasionally do have interesting things to say, such as their recent discussion of GAAP vs non-GAAP earnings. (Aside: we know we can’t trust GAAP earnings either since the FASB just changes the rules when things get ugly). Alcoa’s GAAP earnings were $.13/share. Non-GAAP? $.33/share. I’d personally like to know why the media focuses on the non-GAAP numbers, since for many companies these “one-time, non-recurring” charges are multiple-time, frequently occurring. I’m thinking specifically of the banks here, where paying billion dollar fines for all their collusion and market-rigging is just seen as a cost of doing business.
http://qz.com/325182/this-is-how-india-controlled-its-once-untameable-inflation-problem/
Why is it that fuel and food are included in Indian inflation figures to deteremine economic growth but not in America? Is America’s food and fuel security that much less of a social issue?
mainly cause they change from day to day. after all, it wasnt that long ago that gas was over $3 a gallon right? and a 50 cent swing in a week isnt all that unusual. and would including them not also make you subject to any price changes due to weather, and because of boycotts? do you really want to have oil producers have that much control over the economy?
Sanitation gold: NYC garbage collection jobs in huge demand
Sanitation workers have the most coveted civil service job in New York City
January 13, 2015 1:53PM ET
Sanitation workers have the most coveted civil service job in New York City. Last year more than 90,000 people submitted applications to become sanitation workers, but the department hires only about 500 people a year. That’s an acceptance rate of about only one-half of 1 percent. Keep in mind that Harvard University’s acceptance rate is 5.8 percent, so an argument can be made that it’s harder to become a sanitation worker in New York City than it is to get into Harvard.
….
http://america.aljazeera.com/watch/shows/real-money-with-alivelshi/articles/2015/1/13/sanitation-gold.html
Obama unveils cybersecurity law
https://www.yahoo.com/tech/s/white-house-renews-bid-cybersecurity-law-155403546.html
Why doesn’t he just go out and march up and down the street instead of working on laws?!
He could get on TV and make a prediction!!
He could lambaste the opposition as being out of touch, lawless, too timid, too weak, too aggressive, to heavy-handed and file a lawsuit!!!
It is harder to terminate or not renew a contract than it is to fire a federal civilian!
“The Percentage Of Workers In Government Is At A 54-Year Low”, must be really bad for the state and locals because the federal has at worst grown a bit slower than the population, while it increases the money ot spends on contractors doing civil service work disguised as non personal services. A big part of $450B a year in pentagon contracts is services and personnel support.