10 Tuesday AM Reads

My two-fer-Tuesday morning train reads:

• The QE Uptrend is now broken (Reformed Brokersee also Fed decision to hold steady was a ‘close call’ (WSJ)
• China And The Revenge Of The Index Number Problem (EconoSpeaksee also More on the Fed, China, and Chinese Data (Balding’s World)
• DoL Fiduciary Proposal: How Tech is a Game Changer (Financial Planning)
• A Bizarre Thing Happened in Texas: Wind power was so plentiful in Texas that producers sold it at a negative price. (Slatesee also Saudi Arabia squandered its groundwater and agriculture collapsed. California, take note. (Vox)
• David Letterman Will Explore Climate Change For National Geographic Docu-Series (Variety)

Continues here


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  1. NoKidding commented on Sep 22

    For the interval ending 5:45 a.m., the real-time price of electricity in Texas was minus $8.52 per megawatt-hour.

    But wind operators have another advantage over generators that use coal or natural gas: a federal production tax credit of 2.3 cents per kilowatt-hour that applies to every kilowatt of power produced. And that means that even if wind operators give the power away or offer the system money to take it, they still receive a tax credit equal to $23 per megawatt-hour.

  2. RW commented on Sep 22

    From the standpoint of standard macroeconomics the argument is not over whether the Fed should raise interest rates — it should not — it is whether bankers are being stupid or evil when they argue for a rate raise.

    Mostly stupid: higher interest rates are actually bad for bank business; Brad DeLong

    No, mostly evil: higher interest rates now mean bigger bonuses for bank CEO’s sooner rather than later; Paul Krugman

    I lean evil but think its more fearful than stupid; Dean Baker

    I still think mostly stupid but. okay, maybe evil too — Brad DeLong

  3. DeDude commented on Sep 22

    If president Trumph does not believe something unless his little pea brain can understand all the intricate details of it, then we are in deep shit.


    Most decisions cannot wait for the President to take a Masters degree in the subject.

  4. VennData commented on Sep 22

    Cruz eats his words, and the GOP myth of Reagan

    ​Sen. Ted Cruz (R-Tex.), like so many of the Republican presidential candidates, frequently evokes Ronald Reagan. But as Cruz talked about trying to bring in so-called “Reagan Democrats” to his campaign on the “Late Show with Stephen Colbert,” the host wondered: how many of Reagan’s policies would Cruz or other candidates agree with?

    “Reagan raised taxes, okay. Reagan actually had an amnesty program for illegal immigrants. Neither of those things would allow Reagan to be elected today. So to what level can you truly emulate Ronald Reagan?” Colbert asked Cruz, who wants to lower taxes and is against amnesty. “Could you agree with Reagan on those two things?”

    “No, of course not,” Cruz said.​


    Now Get Harly Furryownme up there and get here to take back the BS she’s spewing about Planned Parenthood that the Media said made her ‘Win” the last GOP debate.

    So Media, substance doesn’t matter to you. How proud you must be to be a journalist.

  5. RW commented on Sep 22

    The 800 Ways Taxpayer Money Supports Fossil Fuel Industries

    As world leaders converge on New York for a United Nations gathering that’s expected to have a strong emphasis on climate change, the OECD is pointing out 800 ways rich industrial nations support fossil fuels with taxpayer money, along with a handful of countries that are catching up quickly. ….

    The findings released Monday are designed to stimulate debate on what constitutes fair support for energy technologies. …

    • VennData commented on Sep 22

      Hey Rock Ribber! When you’re not allowed back into Iran to make money you have one person to blame. You.

      You vote for and financed and ‘morally’ supported the crazies in Congress who refuse to lift sanctions so Boehner can calibrate his leadership.

      Realize GOPer, YOU are your own worst enemy, not “Everybody else.”

  6. VennData commented on Sep 22

    Bergdahl Lawyers Seeks Public Release of Military Report

    They mean GOP Media Machine opinion.

    “The lawyers for U.S. Army Sergeant Bowe Bergdahl filed papers on Monday seeking the public release of the military report on the soldier who left his post in a remote part of Afghanistan and spent nearly five years imprisoned by the Taliban.

    “The report on Bergdahl’s disappearance and capture was put together by Major General Kenneth Dahl, who told a military hearing last week at a base in San Antonio that he did not believe the soldier should face jail time for his actions.

    “…Terrence Russell, an expert with the military’s Joint Personnel Recovery Agency, said Bergdahl received some of the worst abuse at the hands of his abductors of any U.S. prisoner of war in the past half century…”


    The Republican penchant for media trials and redacted leaks harms American society.

    The Republicans are the problem

  7. RW commented on Sep 22

    It’s a day late and a few hours short but the usual suspect(s) at the WaPo are confused about the economy so we press on …

    What Is This “We”Jazz, Robert Samuelson?

    There is an annoying tendency among elite types to assume that their ignorance on important issues is shared by others. Washington Post columnist Robert Samuelson gave us a great example of the effort to project his misunderstanding of the economy when he told readers:

    “Over the past decade, there has been a profound shift in its public standing. Before the 2008–09 financial crisis, the Fed enjoyed enormous prestige and freedom of action. All the Fed had to do, it seemed, was tweak short-term interest rates to keep expansions long and recessions short. What’s clear now is that we vastly exaggerated the Fed’s powers of economic management.”

    Sorry folks, but Samuelson is describing his own need for rethinking, not the need for those with a better understanding of the economy. ….

    NB: And what we can be fairly sure of is that Very Serious People like Robert Samuelson will barely simulate rethinking much less actually do it.

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