Sorted Weekly Tweets

Sorry I missed last week.  Thanks to those who like this.

 

Monetary Policy

 

  • Black Monday and the Greenspan put http://t.co/f9nvCtLd Initial error of Alan Greenspan. Fine-tuning monetary policy 2 remove volatility $$ Oct 20, 2012
  • Southeast Asia Seen Leading Rate Increases Next Year http://t.co/KFsz14Wj I doubt it; $$ laxity is the rule of the time; tough 2 fight Oct 19, 2012
  • Wall Street CMOs Crushed as Sales @ 3-Yr Low http://t.co/n4avsQeR Wouldn’t call a 15% drop “crushed.” Fed feeding on their collateral $$ Oct 18, 2012
  • Fed-Induced Stock P/E Gains Seen Ending Soon http://t.co/FdN3zvgm Effects of QE3 s/b fully anticipated by now. $$ Oct 18, 2012
  • Currency Wars: US Attack http://t.co/XbjCmjhB Axel Merk criticizes Bernanke’s claim that US monetary policy isn’t a major prob 4 emg mkts $$ Oct 17, 2012
  • Yes, it is more complex, but easy developed country monetary policy does make life tough for emerging… http://t.co/qPiFz9pQ Oct 15, 2012

 

Financial Blogging

 

  • The Critic Wall Street Loves to Lunch With http://t.co/ZdomDj3R @felixsalmon one of the leaders of financial blogging gets profiled here $$ Oct 20, 2012
  • 6 blogs u should be reading http://t.co/7aohlAcp @reformedbroker @thestalwart @calculatedrisk @pragcapitalist @convertbond & Bess Levin Oct 18, 2012

 

Hoisington

 

  • Prior tweets courtesy of Van R. Hoisington & Lacy H. Hunt, Ph.D. Whole thing will be posted here http://t.co/pZ4jJrQ1 in a few days $$ Oct 12, 2012
  • Until the excessive debt issues r addressed, the multiyear trend in inflation, & thus the long Treasury bond yields will remain downward $$ Oct 12, 2012
  • “During all of the Fed actions since 2008 the velocity of money has plummeted and now stands at a five decade low” Hoisington & Hunt Oct 12, 2012
  • A jump in daily essentials has a more profound negative impact on living standards in economies with lower levels of real per capita income. Oct 12, 2012
  • How the Fed expects economic traction from higher stock prices when rising commodity prices r curtailing real income & spending is puzzling Oct 12, 2012
  • These three studies show that the impact of wealth on spending is miniscule—indeed, “nearly not observable.” Hoisington Oct 12, 2012
  • “Fed Chair Ben Bernanke and other Fed advocates believe the “wealth effect” of QE3 will bring life to the economy.” Hoisington Oct 12, 2012
  • Prior Tweet quotes Hoisington & “unintended consequence of these Federal Reserve actions, however, is to actually slow economic activity” Oct 12, 2012
  • QE3 is a tacit admission by the Fed that earlier efforts failed, but this action will also fail to bring about stronger economic growth. $$ Oct 12, 2012

 

Rest of the World

  • Devastating Photos Of India’s Illegal Coal Mines http://t.co/iiuN8bo9 Government nationalizes coal mines; mafia springs up2 mine coal $$ Oct 20, 2012
  • Why China Has The Worst Farms In The World http://t.co/zFnHnLH8 Worst in the sense of productivity per worker; they have lots of workers $$ Oct 19, 2012
  • Why Indians Are Getting Poorer http://t.co/PMyTpfEC Over past year, the Indian currency lost around 20% of its value against the US $$ Oct 19, 2012
  • China Faces Tough Choice on Growth http://t.co/i0i1n35l Does the CCP continue to favor short-term self-interest, or long-term power? $$ Oct 19, 2012
  • Zhang Weiying: China’s Anti-Keynesian Insurgent http://t.co/TGNGlo9e Fascinating tale of an Austrian economist surviving in China $$ Oct 13, 2012
  • Iran Low on Options as Hyperinflation Concerns Spark Gold Dash http://t.co/rYqDjinO Hyperinflations spawn currency substitutions: gold, $$ Oct 09, 2012
  • Chavez Win Called by BofA Sparks Selloff as Barclays Flops http://t.co/DNPxpVzO Sad that Chavez won, but the bonds reflected a loss $$ Oct 09, 2012
  • Cheapest Chinese Stocks Since ’97 Not Enough to Signal Rally http://t.co/rTEm2MNF Noneconomic actors compete & drive down future profit $$ Oct 08, 2012
  • The Iran Hyperinflation Fact Sheet http://t.co/bitjVaqn From my former professor @ JHU, Steve Hanke. Financial sanctions r biting in Iran $$ Oct 07, 2012

 

Financial Reform

 

  • A Simpler Way to End Too Big to Fail http://t.co/z680Sq1q Limit non-deposit liabilities; banks will scream; worthy 2b tried $$ Oct 19, 2012
  • EU, Japan Warn Against New US Swaps Rules http://t.co/9F7hTHpy Technical efficiency of mkts is less important than resiliency of mkts $$ Oct 18, 2012
  • Ex-GE Bankers Convicted of Municipal Bond Bid-Rig Scheme http://t.co/fFnANPyk 4 years of jail time; restitution plus 20% would b better $$ Oct 18, 2012
  • Swaps Collateral Costs May Increase Under Rules Weighed by SEC http://t.co/hbrVnyHx Raises costs some, probably the right idea $$ Oct 17, 2012
  • Treasurers Worry Over Accounting for MMF Changes http://t.co/RtF6jlve Geithner tries MMF reform. Better: http://t.co/vuNGATPK $$ Oct 16, 2012

 

Energy

 

  • Gasoline prices _ finally _ begin to slide http://t.co/zuEXNaIx Refineries finally catch up w/maintenance, outages & demand $$ Oct 19, 2012
  • First oil nears for Kazakhstan’s supergiant field http://t.co/Bzx5q6Td Kazakhstan reduces the amount of time that foreigner scan profit $$ Oct 18, 2012
  • California Asks Court to Reinstate Carbon Fuel Standard http://t.co/gLqnqTdj I am happy that I left California at age 27; unrealistic $$ Oct 17, 2012
  • Gas Market Stung by Rapid Traders http://t.co/UI9DqJjI HFT and “news” trading games in the futures markets. Running stops is not new $$ Oct 16, 2012

 

Eurozone

 

  • Spanish Borrowing Costs Ease http://t.co/evRNryY7 It won’t last, but enjoy it 4 now. $$ Oct 18, 2012
  • Retirement No Option for Older Workers in Europe’s Crisis http://t.co/KgjUYc01 Problem is greater in Europe because of lower fertility $$ Oct 17, 2012
  • Hollande Robbed of Growth Engine as Companies Cut Investment http://t.co/ZGdrllIG Logical 2 invest less when EU & France r a mess $$ Oct 12, 2012
  • EU Wins Nobel Peace Prize http://t.co/VoTaN3ZK Nobel committee finally “jumps the shark.” The EU is unstable; a war waiting 2 happen $$ Oct 12, 2012
  • Spanish Bonds Risk Forced Selling as Rating Approaches Junk http://t.co/yO8XWNl4 The Rating agencies r flawed, but on credit they r honest Oct 12, 2012
  • IMF’s Blanchard: Healing From Crisis Could Take Decades http://t.co/NXYmLjU3 Crisis won’t b healed until total debt levels normalize $$ Oct 11, 2012
  • IMF Sees ‘Alarmingly High’ Risk of Deeper Global Slump http://t.co/B7Dg9Ah9 A stopped clock is right twice/day, $ the IMF is right now $$ Oct 09, 2012
  • Why a U.S. buyout firm is investing in Greece http://t.co/26oB31e9 ht: @danprimack – Companies w/global markets insensitive 2 local probs $$ Oct 08, 2012
  • Sicily, a Portrait of Italian Dysfunction http://t.co/w3dn2JFe Core Europe is to Italy as Italy is to Sicily. $$ gone & hard work starts Oct 08, 2012

 

Politics

 

  • Dem convention used corporate cash, despite pledge http://t.co/vCJuCrSa No one is truly a politician until they break a promise $$ Oct 18, 2012
  • Obama Pursuing Leakers Sends Warning to Whistle-Blowers http://t.co/hZ86Cx6O Hard to believe, but Obama outdoes Bush, Jr. 4 opacity $$ Oct 18, 2012
  • Romney’s Rates Seen Spurring Growth Too Little 2 Late http://t.co/fcogGy0V Nice 2c Obama & Romney competing 4 who can harm economy most $$ Oct 18, 2012
  • A123 Bankruptcy Gives Romney New Example of Green-Energy ‘Loser’ $$ $AONE http://t.co/gR2LvxRV Make green energy advocates take Physics Oct 17, 2012
  • Sorry, US Recoveries Really Aren’t Different http://t.co/5cseU4Nn Reinhart & Rogoff take on Romney’s advisors who say the US is different Oct 16, 2012
  • Romney Rolls in Rural Vote That May Provide Swing-State Margins http://t.co/D3dSdJBB Interesting perspective, but is that a big bloc? $$ Oct 16, 2012
  • Dividends: Start Screaming http://t.co/B37C7k9a This one is tough. Probability of a cooperative Congress after the elections is low $$ Oct 13, 2012
  • California Facing $5 Gasoline Stirs Brown to Relax Rules http://t.co/uQUPOz8f There is a pain point 4 everyone, just found 4 CA gas $5 $$ Oct 08, 2012

 

Economic Strength / Weakness

 

  • Winners and losers as US weather patterns change http://t.co/1txs8dcg Worth a read 4 the list of winners & losers near the end $$ Oct 18, 2012
  • Challenges forcing change in trucking strategy http://t.co/mHjc4udb Definitely a soggy data point; US & global economies seem 2b slowing $$ Oct 18, 2012

 

Agriculture

 

Taxpayers get hosed. Farmers doing fairly well $$ Oct 18, 2012

  • Drought brings record US cost for crop insurance subsidy http://t.co/ceUOLMUQ 2012, Taxpayers pay more, Insurers pay some, farmers benefit Oct 17, 2012
  • Milk-Cow Drought Culling Accelerates as Prices Jump http://t.co/WvHEturP Anything involved in animal husbandry is having tough time now $$ Oct 11, 2012
  • Midwest Drought Claims Poultry Producer http://t.co/9K4cL3Gx Many firms involved in the meat biz r having a rough time now. $$ Oct 11, 2012
  • At this rate, growing tobacco should be prohibited. Oh, wait, we tried that with alcohol. Never mind. $$  http://t.co/hU9nI6l2 Oct 09, 2012

 

Market Dynamics

 

  • Throwing Out Insiders Won’t Fix Corporate Boards http://t.co/ANKyNPiq Good boards watch over mgmt & have decent industry & company knowledge Oct 17, 2012
  • All-Time Highs, Almost There http://t.co/Aj1LR8AY Will the market hit new highs this year, in 2013, or when? $$ Oct 17, 2012
  • Legg Mason’s Miller Redeemed as Housing Bull http://t.co/n3tRTmF6 2 soon 2 say. Miller doesn’t seek a “margin of safety” when investing $$ Oct 15, 2012
  • Vanguard to JPMorgan Dodging Neediest Borrowers http://t.co/PsNN8UKG This is what you tend to see 1-2 years in advance of the crash $$ Oct 14, 2012
  • As an aside, there’s kind of a rule of thumb for Bermuda insurers on buybacks: >1.3x tangible book: special dividends. <1.3x TB buybacks $$ Oct 12, 2012
  • The Buyback Epidemic http://t.co/l9SvTwZM @reformedbroker notes that buybacks make less sense, the higher valuations get. I concur $$ Oct 12, 2012
  • New Regime http://t.co/L2JaQC2J @reformedbroker notes a sea change in the markets. I’ve been heading that way; still thinking about it $$ Oct 12, 2012
  • CNBC: Jim Rogers vs. Marc Faber (FULL) 10/04/2012 http://t.co/b5sEOEZb Faber & Rogers on the same segment? What a hoot! $$ $GLD $SPY $TLT Oct 12, 2012
  • OCC Forced JPMorgan, Wells Fargo to Write Down Home-Equity Loans http://t.co/qxXjXBoS FD: + $WFC – ’bout time. Recoveries poor on HEL $$ Oct 12, 2012
  • California Leading U.S. Out of Housing Bust http://t.co/oEaOG4nf I would be wary of “dead cat” bounces here $$ Oct 12, 2012
  • Bubble-Era Financing Returns as Profits Falter http://t.co/yhxBEFxq Pay-in-kind bonds return, very nice. 2 years of rally left at most $$ Oct 11, 2012
  • Wrong: Bullish Sign for Stocks: Leverage Is Up http://t.co/1Qvcdkh9 What matters more is whether leverage will rise in the future $$ Oct 09, 2012
  • Not New York Towers Rise With Embrace of Yield http://t.co/3MKpRdVi When vacancy rates r this high, ordinarily rents fall. Y not now? $$ Oct 08, 2012

 

Other

 

  • Welcome to the ‘Desert of the Real’ — a postmodern economy http://t.co/g42NKcoa Increasing abstraction destroys economic intuition $$ Oct 18, 2012
  • Why Data Will Never Replace Thinking http://t.co/Yhi5xWaR Every bit of data requires the creation of a hypothesis to give it meaning $$ Oct 17, 2012
  • Global Finance Chiefs at Odds http://t.co/av5MQ01i Everyone pursuing similar policies (Loose $$ & deficits) reduces effectiveness 4 all Oct 15, 2012
  • Heidi N. Moore joins the Guardian’s US Team as Finance & Economics Editor http://t.co/In2oDnC6 Congrats @moorehn ! Will b reading u there $$ Oct 15, 2012
  • I’m not much of an #Orioles fan, but don’t you have to love a team of nobodies who can challenge the highly paid #Yankees? $$ Oct 12, 2012
  • Tech Firms Become Real- Estate Trusts http://t.co/GrHU2bo5 Tech firms that own a lot of real estate take advantage of becoming REITs $$ Oct 11, 2012
  • The UN has declared today as the International Day of the Girl Child http://t.co/L0nS6wtd Sex selection abortion kills the most girls $$ Oct 11, 2012
  • Please follow Cato Scholar and JHU professor that I learned a lot from: @steve_hanke Oct 10, 2012
  • Musk’s SpaceX Launches Craft for Space Station Deliveries http://t.co/Z3MH68Ud Space age begins as governments r less of a factor $$ Oct 08, 2012

 

Insurance

 

  • Insurers Shed Annuity Assets http://t.co/bUZ2brqT This doesn’t feel right. other times when financial guys buy insurers, doesn’t work $$ Oct 18, 2012
  • If Only T. Boone Pickens Had Died http://t.co/tpXYGeCV Score: TB Pickens 0, Wealthy donors 0, Oklahoma State Univ. 0, Life Actuaries 1 $$ Oct 08, 2012

 

Replies & Comments

 

  • @PlanMaestro 2 notes: rsv strengthing in Australia a concern, but not big. 2) Low ROE biz of the 90s is fading; life re was a loser then $$ Oct 20, 2012
  • @PlanMaestro I love $RGA . Good mgmt team. Less interest rate & stock market dependent than life insurers FD: long RGA for me and clients $$ Oct 20, 2012
  • @TheStalwart I get a few ridiculous marketing requests/day. Do all bloggers get them? I reply2them this picture $$ http://t.co/TGc2q4Er Oct 19, 2012
  • @BarbarianCap Sigh. Baltimore County is not as far gone as Baltimore City (which is also a county), but this is not wise or arms length $$ Oct 19, 2012
  • I just left a comment in “6 Wall Street blogs you should be reading – Jon Friedman’s Media Web – MarketWatch” http://t.co/qpeTAHcI Oct 18, 2012
  • @MattGGriffith Thanks. Will probably do a post in the near future expaning on that last paragraph. It struck me at the end $$ Oct 18, 2012
  • @laurenfosternyc Have you ever seen the “Gold Medal Gold Model?” http://t.co/5rPvqfEz Gold prices r a function of real interest rates $$ Oct 18, 2012
  • @CflGator these are deferred annuities so the life table plays no role. Problem is investing “too clever” inside a regulated life insurer $$ Oct 18, 2012
  • I just left a comment in “Student-loan debt is a good investment – Outside the Box – MarketWatch” http://t.co/AnaHcGKh Oct 15, 2012
  • I just left a comment in “Student-loan debt is a good investment – Outside the Box – MarketWatch” http://t.co/22AyCQ9I Oct 15, 2012
  • . @paulnovell It will be public in a few days — they e-mail it out to friends & clients b4 posting it here: http://t.co/pZ4jJrQ1 $$ Oct 12, 2012
  • @wanderinggull Which? I don’t know. What was meant to produce “ever closer union” seems to be producing the opposite. Nobel = Pollyanna Oct 12, 2012
  • “Good post, Josh. You have identified many of the best. No one of us covers it all; it’s a strong list” — David_Merkel http://t.co/3Qg6WWZk Oct 10, 2012
  • @munilass Get to sleep, Babylass will need you tomorrow. :) Oct 09, 2012
  • @PavChyt @matinastevis Her *former* husband. She kept the name b/c it was good politics. She did not keep him. Oct 08, 2012
  • @PavChyt @MatinaStevis I received the name Merkel at birth. Angela got it from her 1st husband. At least people r spelling it right now $$ Oct 08, 2012

 

Retweets

 

  • Yeah, & that is BV net of AOCI RT @PlanMaestro: $RGA : book value per share http://t.co/EQWDgiSL FD: long $RGA for myself & clients Oct 20, 2012
  • Jack speaks the truth, listen 2 him $$ RT @ReformedBroker: Jack Bogle: Get Out of the Casino http://t.co/gL0siD6v Oct 18, 2012
  • RT @fivethirtyeight: All polling data is massaged A LOT in an era when only 10% of people respond to surveys. So that also introduces a … Oct 17, 2012
  • RT @MuniCredit: Citi Muni Presentation: http://t.co/ONrQe9gA #muniland h/t: @bondgirl Oct 12, 2012
  • I appreciate retweets RT @LSilverspar: Not enough for the value of your posts. If you value the retweets, I will do so far more often. $$ Oct 12, 2012
  • RT @danprimack: Every time people get all worked up over a national presidential poll, I wonder if the electoral college was eliminated … Oct 08, 2012
  • True of many notable CEOs w/earnings 2 smooth RT @rcwhalen: GE’s Jack Welch Knows All About Cooking the Books http://t.co/5vJeRux6 $$ Oct 08, 2012
  • RT @Convertbond: “Markets are increasingly distorted by Central Banks, attempts to squeeze drops of growth from overindebted developed w … Oct 07, 2012
  • Shock! $$ RT @BarbarianCap: Revised Greek GDP figures show recession deeper than thought http://t.co/FCspv2gU. > data released friday night Oct 06, 2012