Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary “reading list” which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for “reading list” items are gratefully reviewed, although sometimes space limits the number included.
- What Michael Lewis Gets Wrong About High-Frequency Trading (Matthew Phillips, Bloomberg Businessweek) Phillips has a point that HFT does skim much smaller margins from retail investors than the huge bid-ask spreads of three decades ago. But he does not mention the points that (1) the operations amount to front-running and (2) market price manipulation, in some cases larger than the bid-ask spreads of the old days. Phillips ends up sounding like an apologist for HFT in this piece.
- Obama: ‘The debate over repealing this law is over. The Affordable Care Act is here to stay’ (Amy Goldstein and Juliet Eilperi, The Washington Post) As enrollments surged past 7 million, the president celebrated. Republicans, on the other hand, reacted much as did Sen. Mitch McConnell (R, KY):
“We don’t know of course, exactly what they have signed up for, we don’t know how many have paid. What we do know is that all across the country our constituents are having an unpleasant interaction with Obamacare. Whether they can sign up for a policy or not, they are discovering, of course, higher premiums, a higher deductible. Many of them are losing their jobs and so it is really a catastrophe for the country both for the healthcare providers and the consumers.”
- GE should put itself up for sale (Rob Cox, Reuters) That is an investor sponsored proposal on the ballot for the annual meeting this month. Cox discusses why the proposal makes no sense at all.
- An Overview of the Ryan FY 2015 Budget (The Committee for a Responsible Federal Budget, 01 April 2014) Hat tip to Roger Erickson. The prescription from Rep. Paul Ryan (R, WI) for cutting our way to prosperity. Let’s see, what’s the logic? If we have less money it will cause less trouble? Read the full budget document.
- Shocker: comparing deaths from medical drugs, vitamins, all US wars (Jon Rappoport. The Daily Sheeple) There are 70% more deaths from misdirected medical treatment in any recent 10 year period (2.25 million) than in all the wars in U.S. history (1.31 million).
Today there are 15 articles discussed ‘behind the wall’. The first 6 concern “smart beta” investment strategies and the next 6 are discussions about deflation.
The rest of the post is for our premium content subscribers – Click here to continue reading. If you have forgotten your login or password – send an email to info at econintersect.com. |
