Good Sunday morn. Pour yourself some Joe, and enjoy our morning reads:
• 5 Days That Taught Investors All They Need to Know (WSJ)
• A Tale of Two Liquidities (Bloomberg View)
• U.S. In-Foreclosure Sales Drops to 15 Year Low in July (World Property Journal)
• Even for Companies, the U.S. Is Split Between Haves and Have-Nots (Harvard Business Review)
• The Secrets of Germany’s Success: What Europe’s Manufacturing Powerhouse Can Teach America (Foreign Affairs) see also Features of German Labor and Employment Law (WilmerHale)
• Why Gogo’s Infuriatingly Expensive, Slow Internet Still Owns the Skies (Bloomberg)
• Hacker Killed by Drone Was Islamic State’s ‘Secret Weapon’ (WSJ)
• The Real Media Machine Behind Trump: Conservative Talk Radio (Buzzfeed) see also There’s Evidence That Trump’s Polling Support Is Overstated (The Upshot)
• Review: Tesla Model S P90D (Wired)
• Banksy’s Dismaland: ‘a theme park unsuitable for children’ – in pictures (The Guardian)
What are you reading?
The Evolution of America’s Energy Supply
Source: Visual Capitalist
Chris Christie Proposes Tracking Immigrants the Way FedEx Tracks Packages – (not Onion)
http://mobile.nytimes.com/2015/08/30/us/politics/christie-proposes-immigrant-tracker-similar-to-fedex.html
Self-evaluated “What we thinkbof Tourists” Study.
“…The study also ranked cities on their “love” or “hate” for tourists, with Chicago emerging as the most welcoming by far…”
http://www.businessinsider.com/map-shows-which-states-are-most-hostile-to-tourists-2015-8
Another way to read this is Chicago tourists are the worst.
These self evaluation studies are hilarious. Notre Dame’s MBA program always is number one in the nation in those.
I find it hard to believe the Guardian criticizes something that criticizes America.
Whew. I read the article. It praises the anti-Disney, anti-America, anti-commercialism large format art exhibit. All is right in the world.
As a corrective to the Visual Capitalist Chart – look the following absolute numbers:
http://www.technologyreview.com/view/516786/how-energy-consumption-has-changed-since-1776/
REMOVE RAUNER!
http://chicago.suntimes.com/politics/7/71/912349/rauners-big-salaried-budget-guru-review-extension
http://rockrivertimes.com/2015/08/20/dems-say-rauner-must-stop-cherry-picking/
http://www.progressillinois.com/posts/content/2015/08/20/health-care-providers-rally-against-budget-stalemate-outside-rauner-donors
Rauner needs to build a wall around Illinois so those $6/hr jobs don’t escape to Kentucky
Scott Walker: Politicians ‘Trying To Distract’ With Birthright Citizenship
http://www.nbcnews.com/meet-the-press/scott-walker-politicians-trying-distract-birthright-citizenship-n418416
ROFL! Distract away from you Scot?!
See the Koch Brothers WANT tech talent from Bangladesh to come here as indentured servants. So Scot “has no position” on Birthright Citizenship:
https://www.washingtonpost.com/national/walker-says-hes-not-taking-stand-on-birthright-citizenship/2015/08/21/9b28799e-483b-11e5-9f53-d1e3ddfd0cda_story.html?
Now he’s not afraid to bust unions and campaign with a union made Harley.
http://www.reuters.com/article/2015/07/30/us-usa-election-walker-harley-idUSKCN0Q40CI20150730
Hey Scot, how does that Koch taste?
Scot Walker wants to build a wall between US and Canada
http://www.cnn.com/2015/08/30/politics/scott-walker-northern-border-immigration-2016/
Scot Walker wants to build a wall along the longest peaceful border in the world.
What do these guys have all their money in brick companies?
Another question, why are you a Republican? They’re idiots.
Scott Walker: Voters have “very legitimate concerns” about Canadian border
http://www.washingtonpost.com/news/post-politics/wp/2015/08/30/scott-walker-what-about-a-wall-on-the-canadian-border-too/
They’ve found another thing for us to be afraid of!
Thanks GOP Media Machine.
The 5 days that taught investors seemed very simplistic. I wonder what BR’s take would be on some days. I would think 1987, the August before the drop, i.e. what was happening before the days the WSJ article mentions, the Efficient Market stuff -vis-a vis big moves and maybe the fact that the recent gyrations are not so much about China as about the hedge herd and computers? I know nothing and point no fingers. Just trying to understand how things work. Never heard of Bridgestone’s “parity trade” ’til now.
Partity Trade to investing is like what Post-structuralists did to Literary criticism. Turns it inside out (with no value add) Guess at future risks and balance them. That help?
I look at BR’s analysis completely opposite to you. It proves we don’t can’t know anything(to which you agree) therefore set you asset allocation and re-balance by some predetermined formula and get on with your life.
Former House speaker Newt Gingrich: Donald Trump could be GOP nominee
http://www.washingtonpost.com/news/post-politics/wp/2015/08/30/former-house-speaker-newt-gingrich-donald-trump-could-be-gop-nominee/
The GOP will do ANYTHING to avoid splitting off the Bible banging, gun toting, mysogynist, gay bashers from the party.
This is a once in a century chance. Obama dropped the axe that split the party on shutting down government. Now the rest of us must make sure the Tea Party declares independence.
Obama will go down in history as the man that sliced the GOP in two.
A cautionary history of US monetary tightening
The US Federal Reserve has embarked on an effort to tighten monetary policy four times in the past four decades. On every one of these occasions, the effort triggered processes that reduced employment and output far more than the Fed’s staff had anticipated. As the Fed prepares to tighten monetary policy once again, an examination of this history – and of the current state of the economy – suggests that the United States is about to enter dangerous territory. …
“…LeVine says she has been trying to “turn the page” on tensions between the two nations after a crackdown on offshore tax evasion focused mainly on Switzerland, the biggest haven with assets of more than $2 trillion. Wegelin & Co., the country’s oldest bank, closed its doors after pleading guilty in New York in 2013 to helping hundreds of taxpayers evade taxes. The Justice Department’s approach is about bringing Americans to justice, rather than singling out Switzerland’s financial institutions, said LeVine…”
http://www.bloomberg.com/news/articles/2015-08-27/tax-dodger-hunt-neutralizes-swiss-bank-secrecy-u-s-envoy-says
It’s us, Really. We made you do it.