Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list has Mark Hulbert’s questioning the possibility for further stock market gains …….. and the last article has Lance Roberts’ suggestion that a major stock market correction may be near. You might call today the ‘day of the bears’.
- Simple math does not support the bulls (Mark Hulbert, Market Watch, The Wall Street Journal)
- Central Banks Drop Tightening Talk as Easy Money Goes On (Simon Kennedy and Jeff Kearns, Bloomberg)
- Most Americans accumulating debt faster than they’re saving for retirement (Michael A. Fletcher, The Washington Post)
- Democrats call for changes to Obama’s health care law (Tony Pugh and David Lightman, Raliegh News & Observer)
- The Dark Side of Fat Profit Margins (Justin Lahart, The Wall Street Journal)
“Fat profit margins are nice, for now. But a world in which companies don’t have to worry about their profits getting competed away is also one where investors can’t expect to fare well.”
- Census Bureau: Means-Tested Gov’t Benefit Recipients Outnumber Full-Time Year-Round Workers (Terence P. Jeffrey, cnsnews.com) Hat tip to Sig Silber who says this should be read by anyone who thinks income inequality is benign. Read Sig’s recent “Distribution of Productivity Gains and the Structure of Society“
- Waiting for Work (G.S. and G.D., The Economist) “Long-term unemployment increasingly plagues Europe and America.”
- JPMorgan’s $31 Billion In Legal Costs Prove It’s Just Too Big (Mark Gongloff and Kevin Short, Huffington Post) See also GEI News.
- Addicted to the Apocalypse (Paul Krugman, The New York Times) Hat tip to Rob Carter, who adds that it’s not the debt per se, but whether it is productive or not that determines its value or burden.
- Chart(s) of the Day: Is A Major Correction Coming? (Lance Roberts, STA Wealth Management) Lance Roberts contributes to Global Economic Intersection.
