The Big Picture

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• Surfline Video
• Google Barges
• Romer: Monetary Policy in the Post-Crisis World
• Source of Government Shutdown Has Faltering Economy
• 10 Midweek PM Reads
• Bubble Trader Pro
• Apple’s Rebound Q in One Giant Chart
• Lagged P/E Ratios: Shiller Cape vs NIPA
• 10 Midweek AM Reads
• 1929 Crash
• Bloomberg Appearance: Materials, European Play

Surfline Video Posted: 31 Oct 2013 03:00 AM PDT Source: Surfline If you cannot see this video,. you may have to upgrade Flash or Java This posting includes an audio/video/photo media file: Download Now

Google Barges Posted: 31 Oct 2013 02:30 AM PDT Google parks a mysterious barge off of San Francisco and shares plans to prolong human existence. Jon Stewart Looks at Floaters The Daily Show Get More: Daily Show Full Episodes,The Daily Show on Facebook (05:07)

Romer: Monetary Policy in the Post-Crisis World Posted: 31 Oct 2013 02:00 AM PDT

Source of Government Shutdown Has Faltering Economy Posted: 30 Oct 2013 04:30 PM PDT Blowback to Economically Weak GOP Districts? click for interactive map Source: Washington Post     Source: At the source of the shutdown, the economy falters — and anger at Barack Obama runs high Jim Tankersley Washington Post, October 28 2013   http://www.washingtonpost.com/business/economy/at-the-source-of-the-shutdown-the-economy-falters–and-anger-at-obama-runs-high/2013/10/28/67d51c90-3fe2-11e3-a751-f032898f2dbc_story.html

10 Midweek PM Reads Posted: 30 Oct 2013 01:30 PM PDT My afternoon train reading: • Bear Hunting (FT Alphaville) see also Where are the global growth optimists? (FT Alphaville) • Stock Tribes (Reformed Broker) • Funds of hedge funds recast dismal model (FT) see also Being Wrong Works at Scale…Hedge Funds and Bank of America (Howard Lindzon) • Which CEO Will Be Next to Talk Down His Own Stock? (Yahoo) • Fed Balance Sheet Not Seen Returning to Normal Until at Least 2019 (WSJ) but see Hilsenrath: December Taper Not Off the Table (WSJ) • The App Store Era's Biggest Winners And Losers (Splat F) • How You Subsidize the Minimum Wage (Motley Fool) • A New View of the Corporate Income Tax (Economix) • Out of this world: Britain's 'top scientist' Martin Rees says our brains may not yet have evolved sufficiently to unlock the secrets of the cosmos (FT) • Orson Welles' War of the Worlds Did Not Touch Off a Nationwide Hysteria. Few Americans Listened. Even Fewer Panicked. (Slate) Whats up with that?   Why Are Taxpayers Subsidizing Wealthy Companies? Source: Motley Fool

Bubble Trader Pro Posted: 30 Oct 2013 01:00 PM PDT I love these sorts of things — so instructive to a specific mind set:   via Zero Hedge

Apple’s Rebound Q in One Giant Chart Posted: 30 Oct 2013 11:30 AM PDT click for larger graphic Source: TechCrunch

Lagged P/E Ratios: Shiller Cape vs NIPA Posted: 30 Oct 2013 09:02 AM PDT click for ginormous charts Source: JP Morgan   JP Morgan observes: “Shiller P/E shows the market to be overvalued, but not as extreme if you use the NIPA data.” I’ve never used the NIPA data, so I have no real opinion on it.  The two charts look directionally similar, but different in terms of magnitude. For those of you bulls in search of some valuation confirmation bias, NIPA is your best bet. Thoughts?     Source: Washington Reset: Investing in the Wake of the Shutdown Dr. David Kelly Chief Global Strategist J.P. Morgan Funds October 30, 2013

10 Midweek AM Reads Posted: 30 Oct 2013 06:00 AM PDT Here’s whats shaking this morning: • Obama’s Quiet Bull Market Charges Past Reagan-Era Gains (Businessweek) see also 3 'amazing' facts about the stock market (MarketWatch) • Do investors have too much information? – Fortune Management (CNN) • The slowdown in sales of newly built homes since last summer has sapped momentum from the land market. (WSJ) but see Investors dive into risk-sharing mortgage bonds from Fannie Mae, Freddie Mac (WSJ) • If economists ran the country… (FT.com) • The Perils of Ascribing Meaning to a Random Event (NY Times) see also Richard Thaler on Behavioral Economics (Conversable Economist) • For Once-Mighty Sears, Pictures of Decay (Dealbook) • A global wine shortage could soon be upon us (Quartz) • The iPad Air (Daring Fireball) see also Lighter and Faster, It's iPad Air (NY Times • Suzanne Somers, Jenny McCarthy and America's love of celebrity pseudoscience (Salon) • Photo spread: Banksy in NYC (Atlantic) see also Monthlong Chase Around New York City for Banksy's Street Art (NY Times) What are you reading?   The Up & Down Dow Source: Bespoke Invest

1929 Crash Posted: 30 Oct 2013 05:00 AM PDT How blase was the Washington Post over the crash in ’29?   via Wonkblog

Bloomberg Appearance: Materials, European Play Posted: 30 Oct 2013 04:00 AM PDT Here are the highlights from yesterday’s Bloomberg appearance: Barry Ritholtz discusses his play for Europe with Adam Johnson and Matt Miller on Bloomberg Television’s “Street Smart.” Source: Bloomberg, Oct. 29 2013 ~~~ On today’s “Chart Attack,” Barry Ritholtz and Bloomberg’s Adam Johnson look at materials stocks. They speak on Bloomberg Television’s “Street Smart.” Source: Bloomberg, Oct. 29 2013

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