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Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

April 5, 2013 at 10:00 AM

Vote: Pause or correction in the stock market?

Today’s “disappointing” jobs report shouldn’t be a surprise. Corporations are sitting on record cash, but not using it to add jobs. Most of the gambling in the $600 trillion derivatives market is all about rent-seeking, not creating jobs. Poor earnings and falling wealth for average Americans translates into weaker demand. So does government austerity. As I write, the Dow Jones Industrial Average is down about 110 points and the S&P 500 off about 1 percent. The stock rally has had more to do with abundant money from the Federal Reserve than the underlying condition of the real economy or dangers overseas (the eurozone, Syria, North Korea).

So what happens now?

Read on for the top links of the week and the haiku:

This Week’s Links:

Now it’s official: Obama sells catfood futures | Naked Capitalism

Obama making historic mistake on Social Security | Salon

Investors widen rental search as house costs rise | Bloomberg

Supply chain problems hitting hospitals near you | Naked Capitalism

Wealth disparity in America (graphic) Boing Boing

Should local government be run like Silicon Valley? | Governing magazine

Inside the offshore global money maze | ICIJ

Mourning in America: The incomplete education of David Stockman | Forbes

Highly experimental central banking | Mohamed El-Erian/Business Insider

‘Am I the only one ambivalent about Amazon’s acquisition of Goodreads?’ | Digitopoly

Today’s Econ Haiku:

Obama’s reveal

We’ll cut back earned benefits

Called “entitlements’

 

Comments | More in Investing, Stock market

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