10 Wednesday AM Reads

September 16, 2015 7:37am by

Its Fed Day, part 1. Start it right with our hand curated morning train reads:

• The Doomsayer’s Guide to the Fed, Rates and What Could Go Wrong (Bloomberg) but see Don’t Worry Too Much About A Fed Interest Rate Hike (fivethirtyeight)
• You’re not irrational, you’re just quantum probabilistic: Researchers explain human decision-making with physics theory (Science Daily)
• Remembering 2008: It Could Have Been Another Depression (Conversable Economist)
• Wall Street’s latest panic: Trump could win (Politico)
• ‘Syria is emptying’ (Washington Post) see also Scenes From a Human Flood (NYT)

Continues here

 

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  2. RW commented on Sep 16

    A Trump victory only worries wall street because rents would be higher. Jeb? otoh doesn’t worry wall street at all.

    How Jeb Bush’s Tax Cuts Suckered the Media

    If you have heard about Jeb Bush’s new tax plan by reading political reporters, you have probably heard that it is a “proposal to reform the tax code” that will “crack down on hedge fund managers” (CNN), that it is “mainstream and ordinary” with “a populist note” (NPR), that it “challenged some long-held tenets of conservative tax policy” (the New York Times), and has “a nod to the populist anger roiling both parties” (The Wall Street Journal). It is, in other words, the same sort of coverage George W. Bush received when he unveiled his tax cuts in 1999, …

    NB: I tend to side with the opinion that the bulk of corporate media and political reportage these days isn’t so much suckered as doing their job which unfortunately now seems to emphasize stenography, journaminimalism and bamboozling readers.

    • VennData commented on Sep 16

      Trump is Copying Reagan, Almost Exactly.

      ​”..Whatever else happens during the Republican debate at the Ronald Reagan Presidential Library, one thing is certain: Candidates will claim to be like America’s 40th president. The competition to show who most resembles Reagan has become a ritualized part of the GOP-nominating process. Many people have drawn comparisons between the man known as The Donald and the man never known as The Ronald—starting with Trump himself, who adapted Reagan’s 1980 slogan “Let’s make America great again.” Like Reagan, Trump is a former Democrat and a one-time TV star, whom the media initially dismissed as having little chance of reaching the White House…”​

      http://www.theatlantic.com/politics/archive/2015/09/donald-trump-is-reagans-heir/405484/

    • Iamthe50percent commented on Sep 16

      If only there would be similar competition in the Democratic Party with candidates fighting over the mantle of FDR. Only one candidate is remotely like him and it’s not the true Queen from the house of the DLC.

    • VennData commented on Sep 16

      If only why? FDR was great for his time but the GOP made sure we’d have no more FDRs who unlike Reagan really won a war.

      The Trump Reagan comparison is really pissing off the nuts

  3. rd commented on Sep 16

    While the mainstream car industry has been focused on how to make an ignition switch for $2.00 instead of $2.20, Google has focused on re-inventing the industry. Between Google and Tesla, it is likely the car industry will be utterly transformed in the next 20 years. Once Apple gets into the mix, then there will be real competition for 21st century. Having bought two new vehicles recently (mid-priced, not high end), it is pretty clear that the car industry has largely been ignoring the tech revolution outside of making engines and transmissions run more efficiently. I think the entire industry is ripe to have done to it, what the Japanese car companies did to the US automakers in the 80s.

    http://www.bloombergview.com/articles/2015-09-15/google-s-self-driving-toaster-finally-rattles-automakers

    • willid3 commented on Sep 16

      well as the old saw went back when Bill Gates was pushing for this, the car companies shot back, if cars ran like computers did, we would be ok with cars shutting down without warning (in windows case the blue screen of death). but have the technology companies had an impact? or yes they have. should the car companies have just out sourced some of that to them instead of doing it themselves? maybe. after all, they have had all sorts of starts and crashes along the way (the BMW Idrive any one?). but then again, the interior of the car and the experience in it, have become a lot more important than it was in the past, and if they all did that, all cars would be alike on the inside. would that have been better? not so sure, check with the phone companies, how well has that worked out when they all have the same phones? they actually have always been sensitive to parts pricing, its just not been all that well known till now. remember the old saw about the fighter plane being used by the air force being built by the lowest bidder? thats been true in cars, and just about all manufacturers every where (and that drove a lot of manufacturing else where, along with a lot of technology in building products, those computerized machines, that we now depend on to make just about every thing). but Tesla is pushing car electrification, which in the long run, is whee the car is going , along with using hydrogen as a fuel. so they pushed car companies to do more than just PR stunts (not that it has stopped that mind you, they still do them). and while a longer term automation project that Google is working, its likely we will see that happen. but its going to be a while.

    • Jojo commented on Sep 16

      Death of a car salesman
      No one much likes car dealers. But changing the system will be hard
      Aug 22nd 2015 | From the print edition

      THE internet was supposed to do away with all sorts of middlemen. Yet house sales are mostly conducted by estate agents, and car sales are still finalised in cavernous showrooms that smell of tyres. Technology is diminishing the role of car dealers, however. Customers are using the internet for much of the process of choosing a new car, and are increasingly getting loans and insurance online rather than buying them from the dealer who sells them their car. Some carmakers are seeking ways to bypass dealers too.

      In the motor industry’s early days, a century ago, manufacturers tried selling their vehicles at the factory gate, in shops they owned themselves, by mail order and through travelling salesmen. But eventually they settled on a system of franchising, in which independent dealers mostly sell just one maker’s models. Now, almost all of the 90m motor vehicles sold worldwide each year cross dealers’ forecourts. In America, the second-largest car market, their total revenues reached $806 billion in 2014. China’s car market, the largest, has rapidly come to resemble the West’s, with all its faults (see article).

      …

      http://www.economist.com/news/business/21661656-no-one-much-likes-car-dealers-changing-system-will-be-hard-death-car-salesman

    • Iamthe50percent commented on Sep 16

      Once Apple is in the mix, traffic will be thinner as ordinary people will no longer be able to afford cars. However, yuppies will sit in line overnight to buy the latest Apple car with Dad’s credit card.

  6. willid3 commented on Sep 16

    lets bang our heads against the wall again?
    http://economistsview.typepad.com/economistsview/2015/09/collecting-taxes-is-government-work.html

    we have tied to use debt collectors before. all it did was increase costs as the private companies used thug tactics to try to bully tax payers into paying. leading to increased cost at the IRS to deal with complaints and costs of complying with court orders that inevitably show up. it also encourages tax payer abuse, and we have tried it twice so far, and its failed every time.

  8. VennData commented on Sep 16

    Queen Elizabeth Buys $1.575M Condo in Downtown Chicago

    ​http://chicago.curbed.com/archives/2015/09/16/queen-elizabeth-buys-in-chicago.php

    • Iamthe50percent commented on Sep 16

      Because their kids have no jobs? Because they have forgotten what a raise or a COLA is? Because the government tells us that inflation is down in August because of lower gas prices while rent and food increased?

    • VennData commented on Sep 16

      “No jobs”. ROFL!

      Gotta love the statline from Ima.

  10. winstongator commented on Sep 16

    I know not your headline, but “More Americans Have Been Shot to Death in the Last 25 Years Than Have Died in Every War ” mislead me a little. I thought they meant all casualties in Every war, not just American casualties. I think we often get a distorted view of WWI, WWII, even Vietnam based on thinking about American deaths only. If you think about all deaths in WWII compared to US gun violence, you get a much different picture than American deaths in WWII. We probably are the only country with this distinction though.

    • Iamthe50percent commented on Sep 16

      US News & world report once editorialized that the USA dropped more tonnage of bombs on Iraq than were dropped by all sides during the entirety of WW II. Considering the Blitz, the bombing of Germany and Japan, the Japanese bombing of China, I thought that was a pretty impressive statistic.

  12. willid3 commented on Sep 16

    now that was weird i was logged in about to submit a comment when was logged off

  15. willid3 commented on Sep 16

    while we have more jobs now, its not like poverty has improved
    http://fivethirtyeight.com/datalab/more-jobs-havent-meant-less-poverty/

    nor has it put more money in the 99% hands. so far incomes have been stagnant for 3 years running. and its not like the so called good times were much better than being stagnant, and what little gains there were wiped out by the lesser depression.

    • VennData commented on Sep 16

      If the banks say it’s OK, I guess it is

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