Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list has two articles that might indicate a market top from two authors who are postulating just the opposite …….. and the last article says the House of Representatives may have just passed an act that will effectively eliminate the debt ceiling. But then the author posted another article the next day which says what Congress has done is ambiguous.
- The Great Capitulation (Pamela Rosenau, Advisor Perspectives) Usually the last stage before reversal of a trend is capitulation. This author seems to think capitulation is an intermediate stage of a trend.
- Everybody Wants Some: Central Banks and Bond Funds Step up Buying of Stocks (Liz Ann Sonders, Advisor Perspectives) Everybody has to get in before a top.
- Retired couples may need $220,000 for health care (Paula Aven Gladych, benefits pro) An 8% drop in the past year.
- The Crappiest Economy? (Daniel Gros, The Daily Beast)
- Pope urges global leaders to end ‘tyranny’ of money (APF, France 24 International News) Hat tip to Russell Huntley. From Pope Francis:
“The worship of the golden calf of old has found a new and heartless image in the cult of money and the dictatorship of an economy which is faceless and lacking any truly human goal.”
- Vikram Pandit Resurfaces With an India Connection (Shefali Anand, The Wall Street Journal)
- From Brooklyn to California, Housing Bubble Threat Grows (Prashant Gopal and Kathleen M. Howley, Reuters)
- Two dozen words may predate modern languages (David Brown, The Washington Post) Hat tip to Roger Erickson. See this for more research detail.
- Did the House of Representatives Just (Unintentionally) Eliminate the Debt Ceiling? (Dan Kervick, New Economic Perspectives) Has the Republican-controlled House eliminated the debt ceiling? But the author subsequently posted another article which says what Congress has done is ambiguous. Dan Kervick is a Global Economic Intersection contributor.