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| | Gallup Poll Shows Consumer Spending Pullback, Consumer Confidence Levels Below Depressed 2009 Levels ; Back-to-School Sales Bust Says WSJ (Spending is up a tad from depressed 2009 levels but still way...)
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| | Bloomberg Stands By "Cowboy" Remark in State Cigarette Tax Dispute with Seneca Tribe (New York's cigarette tax of $4.35 (raised this year from the already-high $2.75) is sufficiently high relative to...)
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| | The Clean Slate (Newsweek: Clean Slate Time, by Keith Libbey (Fredrikson & Byron, Minneapolis) & Evan Thomas (Newsweek): How about this for a tax plan: cut most people?s taxes by half, eliminate the...)
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| | Daily Chart Art - September 2, 2010 (What's up, my sexy, beautiful, chart-lovin' people? On the canvas today I've got the GBPUSD, NZDUSD, and EURCHF pairs. Check 'em...)
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| | Christina Romer?s Farewell Address (Here's a summary of: Christina Romer?s Farewell Address I also explain one reason I'm so furstrated with fiscal...)
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| | Charles Nenner says long term cycle bottoms soon.
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| | When good (lefty) papers go bad.
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| | Long Cable
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| | Close Cable trade
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| | How much did interest rates matter for the housing boom? (Both theory and data suggest that lower real rates cannot account for more than one-fifth of the boom in house prices. That's from Edward...)
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| | Personal Bankruptcy Filings: Down from July, Up from August 2009
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| | U.S. Light Vehicle Sales 11.5 Million SAAR in August
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| | Media Appearance: CNBC?s Fast Money (9/01/10) (>
Tonite I will be on Fast Money on CNBC at 5:30pm discussing the next NFP, Tax Cuts, and big Infrastructure Stimulus.
Temp tax cuts, UE extensions,...)
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| | Samwick Media Watch
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| | The UCLA Fly-Out
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| | Arrow, Schelling, and the Fed (Does the Fed want to loosen monetary policy? If so, why doesn't it do it? There are two answers (or at least, two simple answers) to this question: 1. The Fed doesn't...)
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| | Daniel Libby visits King Island, 1867 (Construction of the trans-Atlantic telegraph cable pushed the limits of 19th Century technology. In the 1860s construction was begun on an alternative telegraph...)
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| | King Island and the Russian Fur Traders, 1822 (When westerners began to visit the Bering Strait, they were touching the jugular of a thriving trade in furs between America and Asia. Furs from central...)
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| | Adam Smith? Who's THAT? (My good friend Bruce Caldwell has some interesting comments on the place of "history of thought" in...)
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| | California Cities: D Is for Disincorporate (Story here. So how is the California Senate spending its time? Debating (and ultimately rejecting) a ban on plastic bags. Of course the CA Senate might be...)
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| | Obama & the Mendoza Line for Keeping Political Promises (Last night President Obama took to the tube to congratulate himself for keeping his campaign promise to end combat in Iraq (never mind that...)
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| | Some Links (Shikha Dalmia explains that the G.M.’s new I.P.O. is meant to Invigorate Political Opportunities for Democrats. Boston Globe columnist Jeff Jacoby reports that “Cash for...)
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| | Whack-a-Mole (No modern myth dies harder than the familiar claim – today repeated in the Los Angeles Times by one Joan Mortenson – that “It was the massive spending of World War II...)
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| | Ethanol Blend E85 Case Study: Iowa (Iowa - The Saudi Arabia of Ethanol
Iowa is to corn ethanol what Saudi Arabia is to oil. At present Iowa has the capacity to produce 3.5 billion gallons of ethanol...)
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| | BP's Deepwater Oil Spill - Continuing to Wait; Wave Glider - and Open Thread (Additional work near the Deepwater Horizon well site continues to be delayed by high waves. Once the current weather...)
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| | Drumbeat: September 1, 2010 (Oil Price Ignores Long-Term Supply Worries
You could be excused for seeing a grim metaphor for the death of the oil age in the scenes of destruction visited on the U.S....)
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| | Quick Hits: Walking Away from Boats; Philadelphia Demands $300 Blogger License Fee; Birth Rate Lowest in Century; Tracks of Bizarre Robot Traders (I am traveling this morning will look at ISM and other...)
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| | Rubin & Robertson: Bring Back the Estate Tax, Retroactive to Jan. 1 (Wall Street Journal op-ed, Bring Back the Estate Tax Now, by Robert Rubin (Co-chair, Council on Foreign Relations; former Treasury...)
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| | Are Tests Biased Against Students Who Don't Give a Sh**? ((Warning: Foul language.) In The Know: Are Tests Biased Against Students Who Don't Give A...)
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| | Lines Blur in Tax Advice (Dow Jones, Lines Blur In Tax Advice, by Arden Dale: The line between smart and criminal can be a fine one when it comes to giving tax advice, and some advisers see it blurring...)
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| | TIGTA: 10% Error Rate in Returns Claiming Foreign Earned Income Exclusion (The Treasury Inspector General for Tax Administration today released Improvements Are Needed to Reduce Erroneous Foreign...)
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| | Noise, economic indicators and human action (Noise has always been a part of the financial markets. Fischer Black wrote a seminal paper on the topic of “Noise” in the Journal of Finance...)
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| | Wednesday links: September snap back (We are now back in the trading range. (Big Picture)
August asset class performance. (Bespoke)
Investors continue to shift from active to passive management. ...)
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| | Wednesday screencast: forex funds (It seems that for now retail forex is going to be the playground of leveraged traders. The CFTC has proposed rules that continue to allow for retail traders to...)
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| | A WARNING SIGN FROM "STICKY" INFLATION? (When we last checked in with the monthly consumer price index, headline inflation was running at an annualized 1.2% pace as of this past July, off sharply from...)
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| | Thomas Sargent on Modern Macroeconomic Models (As a follow-up to the post below this one on the usefulness of modern macroeconomic modes, here's Tom Sargent. Given my remarks below, I was pleased to...)
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| | The Great Depression in Economic Memory (Jean Pisani-Ferry argues that "In extraordinary times, history is, in fact, a better guide than models estimated with data from ordinary times": The Great...)
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| | Charles Nenner says long term cycle bottoms soon.
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| | When good (lefty) papers go bad.
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| | Gold and Silver Market Suppression Failures Flash Buy Signal, Part 3 (Robert Kientz submits:This is Part 3 of a 5-part series on gold and silver price suppression. Please read Parts 1 and 2 before...)
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| | Gold Testing All-Time High, Again (Forexyard submits: Spot gold prices have surged and are closing in on their all-time high. Negative risk sentiment surrounding the recovery of the global economy and...)
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| | Gold Rises in August to Record Monthly High (Mark O'Byrne submits:
Gold: After yesterday's 1% rise, gold traded sideways in Asia but has risen again in early European trading as the dollar has...)
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| | Long Cable
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| | Close Cable trade
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| | Venezuelan markets in everything (A Venezuelan politician is offering breast implants as a prize in a raffle to raise funds for his parliamentary election campaign. "Some people raffle TVs and we...)
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| | Assorted links (1. In defense of factory employment. 2. Bill Dickens defends education against the signaling model. 3. In defense of...)
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| | What I've been reading (1. The Private Lives of Trees, by Alejandro Zambra. He has snuck up on us and suddenly he is one of Latin America's best writers. As an extra bonus, you can read this in a...)
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| | Is being interesting more important than being happy? (Vimspot asks: 2 things I'd love you to elaborate on (though perhaps you left them as cliff hangers for a reason): 1. You once said being...)
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| | Some comments on August ISM Manufacturing Index
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| | General Motors: Sales off sharply from August 2009
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| | Construction Spending declines in July
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| | ADP: Private Employment decreases 10,000 in August
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| | MBA: Purchase Application activity suggests low level of existing home sales in August and September
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| | Pop! Back Into the Trading Range (I have recently been complaining about the excessive bearish sentiment.
Whether it was Tony Robbin’s economic warnings, the excessive bearishness of Wall Street...)
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| | The Joy of a Salesman (NSFW
Being a salesman is the ultimate career. Especially when you get to deal with bosses like this one. (If you are in sales, or have ever been in sales, you will get this. If...)
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| | Attention RE Agents: NAR Spin is Counter-Productive ! (We have had a god-awful run of Housing data. New and Existing Home Sales, Defaults and Foreclosure data, even the Case Shiller report — all...)
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| | Bond bubble- a sterile debate on semantics (Much ink has been spilt over the question of whether government bonds are in a bubble or not. The bond bubble believers love to cite stats along the...)
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| | Futures Strong (Stocks snapped a two-day decline, U.S. index futures rose and copper rallied after China?s manufacturing and Australia?s economy grew faster than economists estimated.
China?s...)
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| | What Makes America Great: Layoffs! (I am watching Squawk Box around 6:30am as I get dressed this morning. The conversation turns to various incentives in Germany, where firms are actually paid not to...)
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| | Samwick Media Watch
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| | The UCLA Fly-Out
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| | Daniel Libby visits King Island, 1867 (Construction of the trans-Atlantic telegraph cable pushed the limits of 19th Century technology. In the 1860s construction was begun on an alternative telegraph...)
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| | King Island and the Russian Fur Traders, 1822 (When westerners began to visit the Bering Strait, they were touching the jugular of a thriving trade in furs between America and Asia. Furs from central...)
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| | Why I Still Think I'll Win My Unemployment Bet, by Bryan Caplan (I've grown slightly anxious about my bet with John Quiggin on European unemployment. But Sumner's a great therapist:An optimist...)
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| | On Competition Between Ambulatory Surgery Centers and Hospitals (One of the many supposed evils of the health care marketplace is the ambulatory surgery center (ASC), a facility which supposedly drains...)
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| | FDIC Quarterly Banking Report: "Reduced Loan-Loss Provisions Boost Earnings"; Commercial Banker Comments on Loan Loss Provisions (Inquiring minds are investigating the FDIC Second Quarter 2010...)
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| | Oregon Tax Revenue from Measure 66 is 50% Short of Predictions; Oregon Grants Unions 4.75% Pay Hike (From the dysfunctional state of Oregon comes news that Measure 66 fell about 50% short of its...)
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| | "Non-Combat" Troops Remaining in Iraq Will Still Receive "Combat Zone" Tax Treatment (In a televised address to the nation tonight, President Obama outlined his plans going foward concering U.S....)
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| | Hellerstein & Duncan: VAT Exemptions: Principles and Practice (Walter Hellerstein (Georgia) & Harley Duncan (KPMG, Washington, D.C.)have published VAT Exemptions: Principles and Practice, 128 Tax...)
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| | Subscribing to TaxProf Blog (We offer two ways for you to have TaxProf Blog content automatically delivered to your computer, cell phone, or mobile device, as explained in the left column of the blog...)
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| | Mickey Mouse, the Estate Tax and Me (USA Today op-ed, Mickey Mouse, the Estate Tax and Me, by Abigail Disney: [T]he estate tax will automatically be reinstated after a year's hiatus ? in its 2001...)
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| | Law School Deans' Summer of Love (Corporate Counsel, Law School Deans' Summer of Love: Are law school deans just more attractive than the rest of us? Probably not. But they sure seem to be hot...)
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| | Chronicle: 30 Ways to Rate a College (Chronicle of Higher Education, 30 Ways to Rate a College, by Alex Richards & Ron Coddington: The lines below connect raters to each of the measures they take into...)
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| | Got Nothing on Yen, Baby (For the past couple of weeks, USDJPY has been treading in territories untouched since 1995. The yen's appreciation has caused Japanese officials to become more and more...)
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| | "Bring Back the Estate Tax Now" (Dear Deficit Hawks: Bring Back the Estate Tax Now, by Robert Rubin and Julian Robertson, Commentary, WSJ: ...Congress is finally turning its attention to the expiring...)
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| | The Dynamic Properties of New Keynesian Models with Learning ([This one is, as they say, wonkisk.] As James Bullard noted in the previous post, we "have one of the world's experts on the question of...)
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| | links for 2010-08-31 (Bickering at the FOMC? - FT Alphaville For Many, a New Job Means Lower Wages - NYTimes America?s Saving Surprise - Martin Feldstein Ambiguity is another reason to mitigate climate...)
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| | Charles Nenner says long term cycle bottoms soon.
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| | When good (lefty) papers go bad.
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| | Gold Will Shine No Matter What (Money Morning submits: More analysts and investors are increasing their bets on gold with some forecasters saying the rally in the yellow metal will continue no matter...)
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| | Gold and Other Commodities Respond to Monetary Policy (Calafia Beach Pundit submits:
This chart covers almost 30 years of gold and commodity prices, and I think it shows an impressive correlation...)
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| | Junior Miners in the Sweet Spot (Marco G. submits:Even as the uncertainties in the stock markets are very worrying, there is a segment in which the prospects are looking quite bright. Gold and Silver...)
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| | Long Cable
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| | Close Cable trade
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| | Existing Home Inventory declines slightly in August
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| | CrowdQuery: Will Ratings Agencies Escape Justice? (The Bloomberg/BusinessWeek headline was enough to ruin your evening: SEC Declines to Sue Moody?s Over Inflated Ratings.
The facts were even worse:...)
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| | Samwick Media Watch
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| | The UCLA Fly-Out
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| | Daniel Libby visits King Island, 1867 (Construction of the trans-Atlantic telegraph cable pushed the limits of 19th Century technology. In the 1860s construction was begun on an alternative telegraph...)
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| | King Island and the Russian Fur Traders, 1822 (When westerners began to visit the Bering Strait, they were touching the jugular of a thriving trade in furs between America and Asia. Furs from central...)
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