Welcome back to the workweek. Here are our snowy Monday morning train reads:
• A Dozen Things Taught by Warren Buffett in his 50th Anniversary Letter that will Benefit Ordinary Investors (25IQ) see also Uncle Warren Explains It All to You (Epicurean Dealmaker)
• Institutions Pour Cash Into Bond ETFs (WSJ)
• 8 things millennials want—and don’t want—show how different they are from their parents (WonkBlog) see also Retirement Planning for Millennials (A Wealth of Common Sense)
• Data Security Is Becoming the Sparkle in Bitcoin (NYT)
• Why Does the U.S. Chamber of Commerce Oppose the Interests of American Business? (Scholarly Financial Planner)
Science, we don’t need no stinkin’ science.
http://www.businessinsider.com/anti-science-movement-hurts-america-2015-3
Let’s see to name just a few benefits from science, antibiotics, vaccines, insulin, any number of drugs etc, etc. We all have a better chance of living longer than our ancestors from a hundred years ago, but who needs science. After all our leaders tell us that the bible negates science. I wonder if they will ask a doctor to help them when they are ill with some treatable disease.
It will be interesting to see how many of the prized unicorns turn into illiquid dogs in the next market crash. I hope the investors have deep pockets so they can ride it out.
Newark Airport food getting a major facelift. Now you won’t feel like you were abandoned in a Third World country when your flight is delayed or cancelled.
http://www.bloomberg.com/news/features/2015-03-02/massive-redesign-turns-newark-airport-terminal-into-a-foodie-theme-park
The first time I landed at Newark Airport (in the late ’70s) I thought “If this was my town, I’d try to burn it down too.”
Tom Donahue and the US CHamber of Commerce focuses on raising money rather than actually getting things done for the long-term benefit of American business? I’m shocked – SHOCKED! – their’s lobbying going on here.
Next up USCC decides that insurance companies should only pay out “If they feel like it”
USCC says casinos can cap their daily losses regardless of the cads in your hands
USCC supports voiding all manufacturers warranties in B2B transactions.
The good news is that (even though Tom Donahue makes a grotesquely high salary) he was wise enough to stay out of the markets due to Obama’s socialism.
wont eliminating warranties on all B2B transactions eliminate most if not all warranties?
BIG DAY TOMORROW!
The March 2009 Anniversary of the Obama Stock market rally call, by none other than the Commander-in-chief himself. (How many mutual fund and pension fund managers has the man got a better track record than?!)
http://thecaucus.blogs.nytimes.com/2009/03/03/obama-says-he-isnt-focused-on-stock-market-gyrations/
http://www.usnews.com/news/obama/articles/2009/03/04/obama-says-buy-stocks-now-good-deals-there-for-long-term-investors
It’s the most wonderful time of the year
With Fox new bimbos ignoring
While smart folks say be of good cheer
It’s the most wonderful time of the year
It’s the hap-happiest season of all
With those NAZ 5K greetings and index fund meetings
When friends come to call
It’s the hap-happiest season of all
There’ll be parties for hosting
DOW Hats for toasting
Fist-bumping out in the snow
There’ll be scary ghost stories
Of right wingers ranting and
Making predictions from long, long ago
It’s the most wonderful time of the year
There’ll be WSJ guesses
Of collapsing messes
GOP Voters hiding in fear
It’s the most wonderful time
Yes the most wonderful time
Oh the most wonderful time
Of the year
Speaker of the House John Boehner (R-OH) on Face the Nation
Speaker Boehner, live on set, to John Dickerson, guest-hosting CBS’s “Face the Nation,” on whether he can lead what he calls a “rambunctious” House: “I think so. I’m not going to suggest it’s easy. Because it’s not. But remember what’s causing this. It’s the president of the United States overreaching. And that’s not just immigration. … 38 times, he made unilateral changes to Obamacare — many of these … far beyond his constitutional authority to do so. And so the frustration in the country, represented through the frustration of our members, has people scared to death that the president’s just running the country right off the cliff.”
http://us3.campaign-archive2.com/?u=468d5dc43334640650b81443f&id=5fd629f172&e=db9de8317b
The GOP just can’t help themselves but try to defend the nation against Obama! It’s in their pure, white blood
Benjamin Netanyahu insists he doesn’t mean ‘to show any disrespect’ to Obama
http://www.businessinsider.com/netanyahu-insists-he-doesnt-mean-to-disrespect-obama-2015-3
Yeah, that’s why he annoucned more settlements when Biden was in Israel.
http://www.nytimes.com/2010/03/10/world/middleeast/10biden.html
I’m ignoring Netanyahu.
Nemtsov Dead
http://www.bbc.com/news/world-europe-31691727
Rudy Guliani prefers Putin to Obama.
http://www.salon.com/2014/03/04/rudy_giuliani_unlike_obama_putin_is_%E2%80%9Cwhat_you_call_a_leader%E2%80%9D/
Nemtsov didn’t love his country.
– Rudy Guiliani
NASDAQ 5K
http://www.usatoday.com/story/money/markets/2015/03/02/stocks-monday/24253319/
I’m ashamed of this stock market.
– John McCain
Obama: Minoso was ‘Mr. White Sox’
http://www.usatoday.com/story/theoval/2015/03/01/obama-minnie-minoso-chicago-white-sox-cuba/24223737/
You LIE! Ernie Banks was ‘Mr. White Sox’
– Joe Wilson.
Ernie Banks played for the Cubs.
Chicago PMI tumbles to five-and-half-year low in February
http://www.marketwatch.com/story/chicago-pmi-tumbles-to-five-and-half-year-low-in-february-2015-02-27
Those Chicago guys are cooking the books
– Jack Welch
I find the focus n getting consumers to spend more fascinating. Whenever, they hunker down there are articles about how the consumer is suddenly saving more: http://www.marketwatch.com/story/incomes-surge-spending-doesnt-whats-going-on-2015-03-02?link=MW_home_latest_news
Meanwhile, there is a parallel set of articles that are bemoaning low household savings rates, indebtedness, and the retirement crisis. You would think that consumers electing to save more (either actual saving or paying down debt) would be a good thing, but since business and government are in austerity mode, the assumption appears to be that the consumers just need to suck it up to fill the breach.
Google will announce its MVNO in the “coming months”: Sundar Pichai
”…Net neutrality opens the way for competition, lower prices and un-bundling services you don’t want or need…”
https://gigaom.com/2015/03/02/googles-mvno-is-launching-in-the-coming-months-sundar-pichai/
Stiff Competition all over the world
I screw you, you screw me, they screw us
Here we go again.
https://www.youtube.com/watch?v=lVfHKEKYRk0
State GOP formally welcomes gays to the party – LA Times
http://www.latimes.com/local/politics/la-me-california-republicans-20150302-story.html
See what surpluses do to you! Deficits do matter! STOP THE MAIN STREAM GOP NOW!
SUPPORT THE TEA PARTY INSURGENCY BEFORE WE ALL TURN INTO CALIFORNIANS!