10 Monday AM Reads

Welcome back to the monkey house. Here are our post-referendum morning train reads:

• How ‘vision’ messed up Europe (FTbut see Europeans tried to block IMF debt report on Greece (Reuters)
• Don’t Let The Disappointing June Jobs Report Distract From The Long-Term Trend (fivethirtyeight)
• Traders’ hormones’ may destabilize financial markets (Science Dailysee also Raging Bull Markets: How Young Men’s Hormones Unsettle Finance (Bloomberg)
• Should the “Best and Brightest” Go Into Finance? (priceonomics)
• Thomas Piketty: “Germany has never repaid.” (Medium)

Continues here




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Discussions found on the web:
  1. save_the_rustbelt commented on Jul 6

    The job market, overall, has not “healed.”

    Job security is weak, most workers have no wage bargaining power, the deterioration of fringe benefits continues (401(k) is a scam), offshoring is a threat to many workers, illegals still have an economic advantage vis-a-vis legal workers, too many part time workers, etc., etc., etc.

    Destroying jobs is still a badge of honor.

    The finance sector (having bought themselves out of federal prison time with shareholder money) is feeling its oats again.

    And both the GOP candidates and the Clintonistas want to make the rich richer.

    I’m glad I am old.

    • willid3 commented on Jul 6

      didnt it used to be that layoffs were a sign of bad management, instead of sign of good ones? and that bankruptcy was the very last thing management wanted, as opposed to being a strategic choice (wasnt there some noise about shareholder value? does this ‘choice’ tend to destroy the stock?).

  2. catclub commented on Jul 6

    Thanks for the article on Piketty. Relevant reminder of history.

    • Al_Czervik commented on Jul 6

      @swag–Predicted by Gene Roddenberry!

  3. rd commented on Jul 6

    Re: Hormones

    I know several women in their 20s that are recent business school grads. If they have been in the work force for more than a year, they are currently looking to leave the investment banking, tech sector etc. because they despise the working environment created by the men in their 20s and 30s. The word has been filtering down to other ones I know that are just graduating from B-school who are looking for other sectors to apply to.

    When the next crash comes, the women may be better positioned for the future because they will be in sectors that are generally well risk-managed and major layoffs probably won’t occur, unlike some of the other boom-bust businesses.

  4. RW commented on Jul 6

    Yes it is a bit monotonous, week after week after week, but …

    It’s Monday Morning and Robert Samuelson Is Once Again Confused About the Economy

    Yep, some things never change. Robert Samuelson tells us the tragic story of Greece: it needs to reduce its debt, but to do so it has to raise taxes and/or cut spending. That slows growth, which raises unemployment and also lowers its GDP, quite possibly raising its debt-to-GDP ratio. …

    Rather than being some difficult conundrum as Samuelson tries to tell his readers, this story is about as simple as it gets. The world is suffering from a huge shortfall in demand. We need people, businesses, and/or governments to spend money.

    Unfortunately, the deficit gestapos are preventing more spending for reasons that defy logic but undoubtedly make sense to them. Anyhow, this is a really simple story, even if there is a lot of money to be made in trying to make it appear complicated.

  5. winstongator commented on Jul 6

    Should the ‘Best and Brightest’ Go Into Finance? TL;DR No

  6. intlacct commented on Jul 7

    ‘Raging Bull Markets’ reminds me of South Park’s the ‘Hardly Boys’ – “I’ve got a raging clue…”

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