The Big Picture

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• Low Interest Rates Have Yet To Spur Job Growth
• The Economic Argument Is Over — And Paul Krugman Won
• 10 Mid-Week PM Reads
• New $100 Bill Coming October 8, 2013
• What’s the State of the Economy?
• 10 Mid-Week AM Reads
• HFT: What Is It Good For?
• Colbert Demolishes Reinhart & Rogoff
• Frontline: The Retirement Gamble

Low Interest Rates Have Yet To Spur Job Growth Posted: 25 Apr 2013 02:00 AM PDT

The Economic Argument Is Over — And Paul Krugman Won Posted: 24 Apr 2013 04:30 PM PDT Click for video Source: Yahoo Finance

10 Mid-Week PM Reads Posted: 24 Apr 2013 01:30 PM PDT My afternoon train reading: • Did Apple make the iPhone 4 too good? (MarketWatch) see also Apple's Bear Case Remains Intact (MoneyBeat) • A Bullish Magazine Cover Is The Silliest Reason To Sell Stocks (Business Insider) • Wolf: Austerity loses an article of faith (FT.com) • 10 investing rules for the coming bond crash (MarketWatch) • High Frequency Trading and the Hacked Associated Press Twitter Account (Policy Shop) see also Fake Tweet Erasing $136 Billion Shows Markets Need Humans (Bloomberg) • What BP Doesn't Want You to Know About the 2010 Gulf Spill (The Daily Beast) • The Business of Blowing People Up (priceonomics) see also America's 99-Year War Against Terrorist Bombers (Echoes) • Bright Minds and Dark Attitudes: Lower Cognitive Ability Predicts Greater Prejudice Through Right-Wing Ideology and Low Intergroup Contact (Sage) • How the Wheels Came Off for Fisker (WSJ) see also Breaking Down on the Road to Electric Cars (NYT) • Couch Slouch on the 2013 NBA playoffs (Washington Post) What are you reading?   Wall Street Jobs Plunge as Profits Soar Source: Bloomberg

New $100 Bill Coming October 8, 2013 Posted: 24 Apr 2013 12:00 PM PDT Click to enlarge ~~~ Source: New Money

What’s the State of the Economy? Posted: 24 Apr 2013 09:00 AM PDT The regular update from Russell shows the current state of the economy:   Click for full interactive graphic Source: Russell Investments

10 Mid-Week AM Reads Posted: 24 Apr 2013 07:00 AM PDT My morning reads: • Apocalypse, Not Now, for Municipal Bonds: $573.2 million in Munis defaulted in 2013 (0.6% of the $3.7 trillion outstanding) versus 1.01% for 2013 (Barron’s) • Investors Should Beware the Dark Side of Defensive Stocks (WSJ) but see Best Six Months Ending, Time to Warm Up Defense (Stock Traders Almanac) • On the virtuous circle of exporting deflation (FT Alphaville) • 401k Critiques: …..-John Bogle: The "Train Wreck" Awaiting American Retirement (PBS) …..-Index Funds: The Key to Saving for Retirement? (PBS) …..-Five Moments that Shaped the 401(k) (PBS) • Most amusing read today: KrugTron the Invincible (Noahpinion) • The cost of austerity and slow recoveries (Antonio Fatas and Ilian Mihov on the Global Economy) see also Liquidity Trap or Credit Deadlock (Uneasy Money) • The 2014 iBeetle Is Like an iPhone on Wheels (NYT) • Gleick: "Total Noise," Only Louder (New York Mag) see also Lost in Space (NYT) • Meet the New Enforcement Chief of the SEC – The Guy Who Orchestrated Last Year's Discredited National Mortgage Settlement on Behalf of Wall Street (Wall Street on Parade) • Snoop Lion Answers Your Questions (WSJ) What are you reading?   A Rise in Wealth for the Wealthy; Declines for the Lower 93% Source: Pew Social Trends

HFT: What Is It Good For? Posted: 24 Apr 2013 05:30 AM PDT Absolutely nothing: Source: Nanex Source: WSJ Stock Market’s Fake-Tweet Retreat Source: MarketWatch   video after the jump     HFT (Huh!) Good Gawd Y’all What is it Good For? Absolutely Nothing Say it again! (Huh!) Listen to me. Hey!

Colbert Demolishes Reinhart & Rogoff Posted: 24 Apr 2013 04:00 AM PDT Carmen Reinhart and Kenneth Rogoff’s 2010 debt study inspires austerity around the world, but grad student Thomas Herndon debunks the results. Austerity’s Spreadsheet Error The Colbert Report Get More: Colbert Report Full Episodes,Indecision Political Humor,Video Archive Colbert Report, April 23, 2013 07:43   Graduate student Thomas Herndon identifies little staggering omissions in a prominent academic paper, “Growth in a Time of Debt.” The Colbert Report Get More: Colbert Report Full Episodes,Indecision Political Humor,Video Archive (04:19)

Frontline: The Retirement Gamble Posted: 24 Apr 2013 03:00 AM PDT Retirement is big business in America, but is the system costing workers and retirees more than what they're getting in return, asks FRONTLINE correspondent Martin Smith. "The Retirement Gamble" Facing Us All April 23, 2013, 10:09 am ET · by Martin Smith Watch The Retirement Gamble on PBS. See more from FRONTLINE.

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