Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list reports on what a losing proposition managed futures funds are for investors and how profitable they are for providers…….. and the last article is a report from John Mauldin about the discovery of the second largest oilfield in the world in Texas.
- How Investors Lose 89 Percent of Gains from Futures Funds (David Evans, Bloomberg) The tenacles of giant blood-sucking vampire squid reach all the away down to the little investor. Financial extraction is endemic. This is a long article – read every word.
- Special Report: U.S. builders hoard mineral rights under new homes (Michelle Conlin and Brian Grow, Reuters)
- China is being backed into a corner on currency (Kirstie Spicer, Market Spectator)
“Buying US Treasuries is part of the business model it has pursued for years and it really has no choice but to continue to do so. To move away from this would require buying other foreign debt, causing that particular currency to rise. Altering the global allocation of capital like that would most likely be disastrous for China and wreak havoc on the renminbi as the global flow of funds adjusts.”
- The Anti-Yellen Campaigning Has Begun (Matthew Yglesias, Slate)
- The Cosmos Is Cracked (Clara Moskowitz, Scientific American) The space-time continuum may not be continuous.
- UPI Treats Monetary Fiction as Fact: Sows the Seeds of the GOP’s Efforts to Cause a Recession (William K. Black, New Economic Perspectives) The fiscal positions supported by the wealthy suffer from “logical incoherence“.
- Careful before you leap! (Bill Mitchell, billy blog) Hat tip to Roger Erickson.
- First Evidence of Comet Striking Earth Found in Egypt (Mike Wall, Space.com)
- Is U.S. Political Bubble About to Burst? (Ezra Klein, Bloomberg)
- Sometimes They Ring a Bell (John Mauldin, Thoughts from the Frontline) A new oilfield in Texas is the second largest in the world.
