Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list has an article from the Guardian that says the wealthy make mistakes and the poor go to jail…….. and the last article is about a teen-ager’s plan to clean all the plastic out of the oceans in th next five years.
- The Wealthy ‘Make Mistakes’, the Poor Go to Jail (Chris Arnade, The Guardian, 08 September 2013)
- Global Equity Funds Record Biggest Inflows Since 2005 (Weiyi Lim, Bloomberg)
- US Budget Vizualization (Solomon Kahn) Great interactive visual displays.
- Retail money markets AUM and fund flows (Sober Look) Money Market spikes occur when assets are being sold. Sober look:
The spike at the end of last year was due to harvesting of capital gains in preparation for a higher tax regime. The current spike is retail exiting assets that are impacted by higher rates, such as munis, long-dated treasuries and other fixed income products (and to some extent equity funds as well). Both situations corresponded to net outflows from “risky” funds.
- 11 Questions You Should Ask Libertarians to See if They’re Hypocrites (R.J. Eskow, Alternet)
They call themselves “realists” but rely on fanciful theories that have never predicted real-world behavior. They claim that selfishness makes things better for everybody, when history shows exactly the opposite is true. They claim that a mythical “free market” is better at everything than the government is, yet when they really need government protection, they’re the first to clamor for it.
- Hedge Fund Risk and Andy Lo’s “Capital Decimation Partners” (Bill McBride, Calculated Risk) A short but precise discussion about why accounting control fraud flourishes in the current system of financial system incentives.
- Is There a Bull Within the Gold Bear? (Jeff Clark, Wall St. Cheat Sheet) Physical gold purchases have swamped “paper gold” sales.
- Plasmonic nanostructures could prove a boon to solar cell technology (Dario Borghino, gizmag)
- Is Silver as ‘Good as Gold?’ (Ed McCarthy, ThinkAdvisor)
- Could a teenager save the world’s oceans? Student, 19, claims his invention could clean up the seas in just five years (Sarah Griffiths, Daily Mail)
