What We Read Today 28 August 2013

Econintersect: Click Read more >> below graphic to see today’s list.

The top of today’s reading list reports on a “foolish” plan to close Fannie and Freddie …….. and the last article is about the amazing collapse of the Indian rupee as Sanjeev Kulkarni eerily foresaw just two weeks ago on GEI Opinion.

• The Foolish Push to Scrap Fannie Mae and Freddie Mac (Jason Gold, U.S. News & World Report)

• What Steve Keen is maybe trying to say (Nick Rowe, Worthwhile Canadian Initiative)

• Foreclosure Fiasco (David Dayen, The American Prospect) Doesn’t everyone have the right to a day in court?

• The Chart of the Century (Martin Weiss, Money and Markets) Compare this opinion with the following two articles.

• There are Good Reasons Why Interest Rates Won’t Rise (John O’Donnell, GEI Opinion) Compare this with article preceeding and the one following.

• The Big Move Down in Bonds May Be Over (The Fat Pitch) Many great graphs, couldn’t pick just one. Compare this analysis with the two articles preceeding.

• Has the Shale Bubble Already Burst? (Igor Alexeev, Naked Capitalism cross posted from Oil Price) “The average depletion rate of wells in the Bakken Formation (the largest tight oil play in the US) is reported to be 69 percent in the first year and 94 percent over the first five years (37 percent and 50 percent in the Barnett Formation).”

• New Inductees For ETF Hall Of Shame (Paul Baiocchi, Index Universe) Repeated from several days ago – not to be missed.

• How Much You’ll Pay Under Obamacare: 5 Key Questions (John Wasik, The Fiscal Times)

• CHART OF THE DAY: The Indian Rupee Is Getting Absolutely Brutalized (Matthew Boesler, Business Insider) On 13 August Sanjeev Kulkarni wrote at GEI Opinion that simply on a comparative inflation basis the rupee should be 68 to the U.S. dollar. The exchange had been between 59 and 61 for three months, but now two weeks later it is suddenly within shouting distance of 68. It is reasonable that the value should overshoot, perhaps even go into the 70s. But Kulkarni thought that the neighborhood to settle in would be close to 68. Added note before posting: The rupee continued moving today and is at 68.80 as this “goes to press”.