The Big Picture

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• Paul Simon and Sting MSG March 4 2014
• Succinct Summations for Weeks Event (3.7.14)
• Tweets of the Week
• 10 Friday AM Reads
• Last Chance to Blame Weak Job Growth on Weather
• 2014 Range Rover Sport HSE

Paul Simon and Sting MSG March 4 2014 Posted: 07 Mar 2014 03:00 PM PST Fantastic show this week at the Garden.     SETLIST: [PAUL SIMON AND STING] Brand New Day The Boy In the Bubble Fields of Gold [STING] Every Little Thing She Does Is Magic Englishman In New York I Hung My Head Driven To Tears Walking On The Moon [SIMON AND STING] Mother and Child Reunion [SIMON] 50 Ways To Leave Your Lover Dazzling Blue Graceland Still Crazy After All These Years Me and Julio Down By The Schoolyard [SIMON AND STING] Fragile [STING] America Message In A Bottle The Hounds of Winter They Dance Alone Roxanne Desert Rose [SIMON AND STING] The Boxer [SIMON] That Was Your Mother Hearts and Bones Mystery Train Wheels The Obvious Child Diamonds On The Soles of Her Shoes You Can Call Me Al ENCORE: [SIMON AND STING] Bridge Over Troubled Water Every Breath You Take Late In The Evening When Will I Be Loved? ~~~~

Succinct Summations for Weeks Event (3.7.14) Posted: 07 Mar 2014 01:00 PM PST Succinct Summations week ending March 7, 2014 Positives: 1. The MSCI World index has hit a new all-time high. 2. The market hit new all-time highs on Tuesday, 24 hours after a flight to safety. 3. Nonfarm payrolls came in at 175k, well ahead of the 149k expected. 4. Average hourly earnings rose 0.4% and are up 2.2% y/o/y. 5. U.S. PMI came in at 57.1, beating expectations and highest level since May 2010. 6. Spending increased 0.4% vs expectations for a 0.1% gain. 7. Basic earnings of workers rose in Japan (January) for the first time in nearly 2 years! (H/T Abenomics) 8. Initial jobless claims came in at 323k, down from 348k. 9. Personal income up 0.3%, in line with expectations. 10. February ISM came in at 53.2 v expectations of 52.3. 11. Euro zone PMI was revised from 51.7 up to 52.6 Negatives: 1. The week got off to a rough start with the Russian stock market off 10%, flight to safety ensued. 2. The unemployment rate ticked up to 6.7% from 6.6%. 3. Productivity in Q4 Rose 1.8%, down from 3.2% in Q3 and below expectations. 4.February SAAR vehicle sales came in below expectations and flat y/o/y. 5. Russia's stock market was down 10% on Monday

Tweets of the Week Posted: 07 Mar 2014 12:00 PM PST This afternoon’s column is an experiment: I was curious what would happen if I gathered my favorite tweets from the past week and put them all in one place. Might a theme emerge? Are there any important items we may have missed? How much of Twitter is simply unproductive snark-filled fun? Regardless, we ended up with some pretty cool and amusing items that, I think, are worth your time on a Friday afternoon. Here are my favorite tweets from this week: Russia As the situation between Russia and Ukraine unfolded, you can count on my colleague Josh to make a hilarious observation: .@SarahPalinUSA what are you seeing over there? Any movement? — Downtown Josh Brown (@ReformedBroker) February 28, 2014     Austan Goolsbee, the former Council of Economic Advisers Chair, wryly observes: sounds like Putin better fear midterms @anneapplebaum: Time to rewrite those analyses–poll: 73% of Russians oppose intervention in Ukraine — Austan Goolsbee (@Austan_Goolsbee) March 4, 2014     And then there’s this from Ian Bremmer, President of Eurasia Group: Unacceptable things that we're unprepared to do anything about 1 N Korea/Pak nukes 2 Global Warming 3 Assad 4 Crimea 5 Donald Trump's hair — ian bremmer (@ianbremmer) March 7, 2014     Economy Its official: Presenting your new Federal Reserve Chairwoman Yellen swearing in, right now, at the Fed. Enthusiastic standing-O from the staff. And a very proud Nobellist nearby pic.twitter.com/y6FjDJOQvi — Justin Wolfers (@JustinWolfers) March 5, 2014     Temp worker hiring is often a leading indicator of future hires: Nice uptick in temp workers, +24.4K #NFP pic.twitter.com/hZwQMqW5z3 — Matt Phillips (@MatthewPhillips) March 7, 2014     Continues here

10 Friday AM Reads Posted: 07 Mar 2014 06:30 AM PST My end of week reading • How To Be An Index Investor (Rick Ferri) see also The inspiration for John Bogle's great invention (MarketWatch) • Big Company CEOs Just Aren't Worth What We Pay Them (Forbes) • Of Brokers and Bankruptcy (Reformed Broker) see also Finra deletes brokers' red flags, says bar association study. (WSJ) • Eisinger: When Regulation Threatens, Bankers Predict Doom For Main Street (ProPublica) continues here

Last Chance to Blame Weak Job Growth on Weather Posted: 07 Mar 2014 05:00 AM PST With Spring nearly upon us, today may be the last chance for excuse-makers to blame this winter's awful weather for poor job creation. Consensus estimates are that Payrolls increased 149,000 in February after a mediocre gain of 113,000 in January. What is to blame for this weak ongoing job creation? Is it the Fed's fault? Obamacare? An obstinate GOP controlled House? I go with "none of the above." The reality is far more nuanced and complex. As I have been writing (and pleading and screaming) for the past 5 years, we are in a post credit crisis recovery. These are relatively rare. They look very different than the normal, post-recession jobs recovery. As Reinhart and Rogoff first observed in 2007 – the paper without the spreadsheet error – post credit crisis recoveries are typically slow, characterized by weak GDP gains and mediocre job creation. The Deleveraging process by corporations, households and government is the reason why.  Continues here

2014 Range Rover Sport HSE Posted: 07 Mar 2014 03:00 AM PST The 2014 Land Rover Range Rover Sport might be a better mountain climber than slalom runner, but don’t roll your eyes at the “sport” badge on this S.U.V. By Tom Voelk February 28th, 2014

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