Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list is Matt Taibbi’s latest expose, this time on how Wall Street is looting public pension funds …….. and the last article is a detailed look at the cost of a government shutdown.
- Looting the Pension Funds (Matt Taibbi, Rolling Stone) All across America, Wall Street is grabbing money meant for public workers .
- Want to Win the Investing Game? Bet on the Losers (Gil Weinreich, ThinkAdvisor) It’s called ‘buy low, sell high’.
- Eminent Domain Proposal in Richmond, CA Advances (Rick Cohen, Nonprofit Quarterly) Hat tip to Jerrit Erickson. City government rescue plan for underwater mortgages using privatre capital.
- 161 individuals and their lackeys are the target (Bill Mitchell, Billy Blog) Hat tip to Roger Erickson. We are used to seeing the graphs for median household income, but even the average income (which includes the top 1% whose incomes have been growing rapidly) hit a wall in 2000.
But a different cut at the data tells even more. Redistribution of income from the from the middle and the bottom to the top has been going on for the past 45 years.
- History’s 10 Bestselling Cars Ever (Justin Lloyd-Miller, Wall St. Cheat Sheet, 14 September 2013)
- The Retirement Time Bomb No One’s Talking About … Yet (Gil Weinreich, ThinkAdvisor) Target-date funds are no safer today than when they plunged 25% in 2008, says pension consultant.
- CHART OF THE DAY: The US Is Better At Deleveraging Than Europe (Sam Ro, Business Insider)
- Modern Greats (Brad DeLong) A list of the greatest economic history books (Brad’s opinion).
- The weak rupee re-examined (V. Anantha Nageswaran , Live Mint) Hat tip to Sanjeev Kulkarni. For India the current account problem vanishes if gold imported for final consumption is excluded.
- Showdown over a Shutdown: The GDP Effects of a (Brief) Federal Government Shutdown (Macroeconomic Advisors)
