Here is what I am reading.
- Germany’s Attempt to Beat Greece into Submission Won’t Work (Next New Deal)
Are the Germans actually trying to get Greece to leave the euro? If so, they are probably underestimating the turmoil that would cause.
- Paul Ryan and the second coming of Compassionate Conservatism (WonkBlog)
Ryan is moving ahead with a GOP bill that would actually slash programs that aid the poor. House Republicans insist that such cuts actually show a cool-headed, warm-hearted approach to poverty. By battling waste, fraud and abuse in social programs, they explain, Republicans can make the government more effective at helping Americans who are actually in need
- Will Rich People Desert the U.S. if Their Taxes Are Raised? (The New York Times)
The reality is that taxes are just one factor among many that determine where people choose to live.
- Buy in May and Go Away (The Street)
15 reasons why the U.S. economy and stock market are better positioned today than 12 months ago.
- What’s The Point? It’s the Worst Six Months (StockTradersAlmanac)
A more comprehensive review of history reveals a less impressive May track record in which DJIA has declined in eight of the past fifteen election years for an average loss of 0.4%.
- Gross Says QE3 Getting Closer as Goldman Sees Easing (Bloomberg)
In such an uncertain environment, taking out a bit more insurance still looks like the sensible choice for U.S. monetary policy makers.
- DailyReckoning on Bill Gross and Others Call for QE3 (The Daily Reckoning)
With the Fed heads showing that they are bound and determined to keep the stimulus machine well oiled, they will once again feel that “they SHOULD do something.”
- The High Cost of Germany’s Economic Success (Spiegel Online)
The majority of workers feel very little of what the Economist has dubbed “Germany’s economic miracle.”
- How Morgan Stanley shepherded 28 technology IPOs in the past year, Facebook is next (The Economic Times)
Morgan Stanley could collect more than $35 million for its work on Facebook. That would add to the $173.3 million in fees the firm has earned in the past year.
- Spain takes 45% stake in Bankia (The Financial Times)
Spain’s ministry of economy said the move was “a necessary first step to ensure its solvency, the tranquility of depositors and dispel doubts about the entity’s capital needs”.
What are you reading?