Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list says that colleges are teaching economics backwards ........ and the last article suggests there is now a long-term opportunity for buying gold.
- Colleges are teaching economics backwards (Mike Konczal, The Washington Post) Mike Konczal has contributed to Global Economic Intersection. Very worthwhile read, wonkish for the average reader but very focused for economics teachers. Matthew Klein (Bloomberg) has taken Konczal's argument an additional logical step.
- Annuities vs. Bonds: Do the Math (Elliott M. Kass, Financial Planning) See also When Annuities Work Best.
- Worst Raw-Material Slump Since ’08 Seen Deepening (Elizabeth Campbell, Bloomberg)
- Every Portfolio Manager Will Love This Chart (Sam Ro, Business Insider) Cross correlations among asset classes have declined to pre-crisis levels over the past year. Credit stocks going one way while bonds and commodities went the other.
- The Fair Price of a Bitcoin is Zero (Eric Tymoigue, New Economic Perspectives)
- Italy and Spain Move to Help Banks (Marc Chandler, Marc to Market) Hat tip to Credit Writedowns. If you have a solvency problem what better relief than to change the accounting rules.
- The diminishing productivity of Congress, in one chart (Sean Sullivan, The Washington Post) For some people this record is considered one of success.
- Meet Patrick Soon-Shiong, The LA Billionaire Reinventing Your Health Care (Howard Fineman, Huffington Post) Your genome may soon dictate the optimal treatment for both low cost and highest effectiveness should you become afflicted with cancer.
- Study Linking Genetically Modified Corn to Rat Tumors Is Retracted (Barbara Casassus and Nature magazine) In spite of proper control samples, the journal Food and Chemical Toxicology has retracted an article which showed that Monsanto’s glyphosate-resistant NK603 maize (corn) developed many more tumors in rats which died earlier than controls. It also found that the rats developed tumors when glyphosate (Roundup), the herbicide used with GM maize, was added to their drinking water.
The justification? The variety of rats used in the experiments are more susceptible than average to develop tumors.
So that means that certain human families that are more susceptible than others for development of tumors can go suck lemons.
- A Long-Term Buying Opportunity for Gold? (Chris Kimble, Advisor Perspectives dshort.com) See also GEI Precious Metals article.