10 Monday AM Reads

China down 8.5% set the tone for the day. No matter, we have you covered with our forecast-free morning train reads:

• These Charts Show How Hard China Has Hit Global Markets (Bloombergsee also Emerging Markets Lead the Plunge (Barron’s)
• Why are the markets dropping? Don’t blame the Fed. (WonkBlog)
• How low the stock market can go (USATsee also Why the stock market has to go down (TRB)
• Waiting to be right (Statistical Ideas)
• 16 Startup Metrics (Andreessen Horowitz)

Continues here

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What's been said:

Discussions found on the web:
  1. VennData commented on Aug 24

    Will the big stock sell-off hurt Obama?



    I am going to acquiesce to the soft-minded left and start calling this the Obama Rally so that when it fails Obama will go from being the worst US President, to the worst leader the world has ever seen!

    He took my gun! He took our family farm! Just LOOK at those ugly solar panels on our neighbor’s house!!!

    • DeDude commented on Aug 24

      Yep he will go from worst to worser as soon as that collapse of the health care system happens (any minute now, any minute).

  2. RW commented on Aug 24

    Another edition of cognitive dissonance.

    If Japan’s Workforce Is Struggling to Support a Growing Elderly Population, Why Are They Working Fewer Hours?

    If folks can take a break from worrying about how robots are going to take all the jobs, they may want to look at a NYT piece on Japan’s excess supply of housing. The basic story is that because of Japan’s declining population there are now hundreds of thousands of homes across the country that are sitting empty because no one wants them.

    While this is an interesting and important story, the piece also includes the standard nonsense about the demographics of an aging population devastating Japan’s economy …

    Seriously, the effects of productivity growth swamp the demographic changes that the elites keep yapping about. If Japan could lift its rate of annual productivity growth by 0.5 percentage points over the next thirty years, it would swamp the impact of its aging population. If we believe anything remotely like the robot taking our jobs story, then aging is nothing to worry about.

    • Jojo commented on Aug 24

      If Japan could lift its rate of annual productivity growth by 0.5 percentage points over the next thirty years, it would swamp the impact of its aging population.
      Robots can help them do that! [lol]

    • willid3 commented on Aug 24

      so the ‘solution’ for robots is just old age. oddly enough we are doing that too. and we are also shrinking the younger population too (all them was help you know, you would almost think it was all planned out).

    • willid3 commented on Aug 24

      also our solution for housing too. and it might even reduce the impact of climate change

    • willid3 commented on Aug 24

      well maybe he will start pushing total isolation from the rest of the world. not really sure how that will work out.

      but if we could just harness all that hot air, we could solve the energy crises!

    • DeDude commented on Aug 24

      Hey – did you peek at his energy policy???

    • rd commented on Aug 24

      He tried it in Atlantic City. Seemed to work out ok, although he did have to make use of the opportunities in the US Bankuptcy Code to deal with the stone-cold killer bankers.

  3. Iamthe50percent commented on Aug 24

    Very interesting observation. Of course, robots will destroy the middle class unless the 1% gives up a fraction of their income which they are unwilling to do. In fact, judging from the Republican debates, the 1% want a growing fraction of income and wealth and are trying (unfortunately probably succeeding) in bamboozling the white working electorate into thinking it’s good for them because people of color and immigrants will be hurt even more.

    Sorry for the political diatribe. In essence, you are right, expanding productivity should make a very nice life for everyone – except for human greed.

    • VennData commented on Aug 24

      A million mom’s back to school shopping DEMAND trumps any goofy SUPPLY side theories that claim rich people will stop investing.

      Go ahead and stop investing! Free markets means competitors will swoop in and offer moms everywhere what they want.

      ‘Tax cuts for the job creator’s’ tacit assumption is free markets don’t work.

    • NoKidding commented on Aug 24

      There are over 313,000,000 people living in the United States. Of that population, less than 1% claim farming as an occupation (and about 2% actually live on farms). USA exports food.

      What stops the same situation with regards to manufacturing?

      Perhaps high paying jobs will open in online video game character level advancement, recreational sports and travelling.

    • rd commented on Aug 24

      Yep. He will never get the Koch Bros. to back him talking like that. Grover Norquist will also ensure that all of his funding is pulled.

  4. Al_Czervik commented on Aug 24

    On the subject of why stocks go down, I have never understood why that is frequently called a “correction”. Can’t prices correct in the other direction? Nobody ever uses that term to describe when stocks go *up* after a steep down movement.

    • Al_Czervik commented on Aug 24

      …never mind that the “correct” price is unknowable (and probably doesn’t exist).

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