Thursday, May 1, 2014

Three more newsbits

Some more stuff:

Bespoke - F-150 sales best since 2006. So construction must think things are about to improve. So sell! Sell! OMG the US is going to crash!

Calculated Risk - April ISM increased to 54.9. Not interested, noisy dataset, ignore. However, this bit just begged for a sarcastic comment au moi:
"Comments from the panel generally remain positive; however, some expressed concern about international economic and political issues potentially impacting demand."
For the love of a chocolate-covered Christ on a popsicle stick, swathed in tempting nougat and covered in crunchy peanut clusters (may contain peanuts)! "We are concerned about manufacturing because of the stuff we're hearing in the news about Ukraine"?!? If this is the best looming catastrophe that these clowns can dig up, then buy the frickin' S&P 500 and go away for ten years.

Ritholtz - demise of the trickle-down delusion. Ritholtz's commentary on Piketty. Quote:
The book has dominated the media like no other work of economics since the writings of Milton Friedman or even John Maynard Keynes. I won’t spend too much space recounting the reviews, but suffice it to say they have been spectacular. The book has so dominated the economic debate, that it is hard to compare it to anything in recent memory.

The data-driven demolition of trickle-down economics has the Ayn Rand crowd panicked. But what I find so fascinating about this debate (having not yet read the book, though I plan to) is the inability of the economic right wing to respond. Thus far they have been rendered impotent, unable to construct an intelligent counterargument. The strongest response so far -- and I am not making this up -- has been to give the book a single-star rating on's website.
I really should start up an Amazon wishlist for this blog, like the girls on tumblr whose photo streams I like to follow. Then you guys, my precious readers, could buy interesting books for me, the way I buy intriguing pieces of clothing and accessories for attractive teens in the UK to take pics of themselves wearing. Cos despite the fact that I hold very little respect for economists, I'm really starting to want to read this book.

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