The Big Picture

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• How Risky Are Recessions For Top Earners?
• How Does the U.S. Power Grid Work?
• 10 MidWeek PM Reads
• Microsoft Prescription: More Bill Gates
• Comparing Generational Lows: 1942, 1974 & 2009
• 10 Midweek AM Reads
• Facebook, by the Numbers
• Appetite for Distraction

How Risky Are Recessions For Top Earners? Posted: 06 Feb 2014 02:00 AM PST

How Does the U.S. Power Grid Work? Posted: 05 Feb 2014 04:30 PM PST Very cool explanatory: With over 160,000 miles of transmission lines, the U.S. power grid is designed to handle natural and man-made disasters, as well as fluctuations in demand. How does the system work? WSJ's Jason Bellini has #TheShortAnswer.

10 MidWeek PM Reads Posted: 05 Feb 2014 01:30 PM PST My afternoon frozen commute reading: • Fund managers say all isn’t lost on Japanese stocks (WSJ) • FOMC'er Richard "Inspector Clouseau" Fisher and His Excellent Rare Book Price Clue to Proper Monetary Policy (The Faint of Heart) • The Buffett derivative mystery gets more exotic (FT Alphaville) • Wolf: If robots divide us, they will conquer (FT) • Satya Nadella – Microsoft’s CEO (Microsoft) see also Satya Nadella is Microsoft’s new CEO, as Bill Gates returns in a mentor role (WSJ) • 2014 Is The Year Of The Viral Debunk (BuzzFeed) • Half the nation's uninsured live in just 116 counties (WaPo) • Journalists at Sochi are live-tweeting their hilarious and gross hotel experiences (World Views) see also A User’s Guide To The Bizarre Toilets Of Sochi (DeadSpin) • How Social Media Wrote Its Eulogy for Philip Seymour Hoffman (New Yorker) • Just add melted cheese, say food companies, restaurateurs and everyone else. (WSJ) What are you wearing?   Debt Investors Again Head to Safer Shores Source: WSJ

Microsoft Prescription: More Bill Gates Posted: 05 Feb 2014 12:00 PM PST Source: WSJ

Comparing Generational Lows: 1942, 1974 & 2009 Posted: 05 Feb 2014 08:30 AM PST Source: Monthly Chart Portfolio of Global Markets, Bank of America Merrill Lynch     It seems that every 30 years or so, markets make what can be described as a “Generational Low.” We can define this as a capitulatory bottom, one that might be caused by a variety of factors, but usually includes some combination of fear and panic in the mix. This equity market low point is likely to be unchallenged over the next 10-20 or so years. After that point, the combination of population growth, technological gains and of course, inflation, means that we will are highly unlikely to ever see stock indices at those prices again. Towards that end, have a look at the chart above, courtesy of the technical team at Bank of America Merrill Lynch. “History may not repeat, but it rhymes” goes a quote which is often credited to but has never been verified as written by Mark Twain. Continues here

10 Midweek AM Reads Posted: 05 Feb 2014 06:30 AM PST My nasty-icy-morning reads while you are waiting for mass transit to unsnarl: • Doubts about the Fed's plans are boosting bonds — to the surprise of many (WSJ) • Everything You Need to Know About the Emerging-Market Currency Collapse (The Atlantic) see also Understanding emerging-market turmoil (Vox) • How Economics PhDs Took Over the Federal Reserve (Harvard Business Review) • Better Ways to Teach Teens About Money? In a Contest, a Simple Idea Wins Out. (WSJ) continues here

Facebook, by the Numbers Posted: 05 Feb 2014 04:30 AM PST Started at Harvard in 2004 as a way for college students to connect with each other, Facebook over 10 years has evolved into a global icon. Related:

Appetite for Distraction Posted: 05 Feb 2014 03:00 AM PST Bill O’Reilly sits down with President Obama before the Super Bowl to discuss important components of the Fox scandal grab-bag. Bill O’Reilly, President Obama, and the Super Bowl Pre-Show The Daily Show Get More: Daily Show Full Episodes,The Daily Show on Facebook (02:40) ~~~ President Obama deflects attention from his scandals by doing an interview with Fox about his scandals right before the most watched event in the history of television. Appetite for Distraction The Daily Show Get More: Daily Show Full Episodes,The Daily Show on Facebook (03:00)

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