Subject: Share the View 2: Wall Street's Magical Thinking
From: "Bloomberg View" <[email-masked]>
To: <[email-masked]>
Date: Fri, 12 Sep 2014 10:05:07 -0600

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Share The View

The Latest Opinions From Bloomberg View

September 12, 2014

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bloombergview.com 

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U.S. ECONOMY 
Mark Whitehouse:"U.S. consumers have made a lot of progress in paring down the extreme debt loads that helped make the 2008 financial crisis such an epochal disaster. Fresh data from the Federal Reserve, though, offer an important caveat: Millions of the poorest families are still very deep in the hole -- and might be getting deeper."
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INVESTING 
Barry Ritholtz:"One of my favorite pastimes is dissecting accepted Wall Street wisdom to see if it contains any value for investors or traders. Often, upon examination, the widely held beliefs turn out to be closer to magical thinking than financial acumen."
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POLITICS 
Zara Kessler:"If he is re-elected in November, California Governor Jerry Brown, 76, will be the oldest person elected governor in state history. Actually, he's already the oldest sitting governor in California history. ... Being chief executive of such a state is a huge responsibility. When does a political leader become too old for it?" 
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Albert R. Hunt:"Forty years ago, I was the only reporter on a commercial flight to Kansas, traveling with Bob Dole. ... On Dole's flight home, I was entertained by his unsurpassed wit, much of it black that day."
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CHINA 
Adam Minter:"On Wednesday, just a day after Apple's splashy California announcement of the iPhone 6 series, China's big three telecom providers pulled down their online pre-order forms for the new phones. ... Whatever the cause, it's a step backward for Apple."
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SPORTS 
Kavitha A. Davidson:Even if Commissioner Roger Goodell were to lose his job in the wake of the NFL's handling of the Ray Rice fiasco, "it's hard to believe that would result in any lasting change, given just how much power these 32 owners and their sport wield. There's no reason to think this latest scandal will do anything to prevent the football machine from continuing to churn out the dollars." 
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EUROPEAN ECONOMY 
Leonid Bershidsky:"In the long-running debate over Europe's feeble economic recovery, monetary policy has taken center stage as if printing money to spur demand can solve Europe's troubles. According to two newly released competitiveness reports, the real problem lies elsewhere: labor costs, which have been growing faster than productivity, and underinvestment."
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NEWS ROUNDUPS 
Jonathan Bernstein 
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(Read the News Roundup) 
	- Recruiting children for terrorism. Mia Bloom surveys another alarming development. 
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	- Michael Wagner lists "9 Things the Best Political Reporters Do." 
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	- Jonathan Chait looks at the neocons. 
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Matt Levine 
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	- Debating the future of Olive Garden. 
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	- Pondering the future of Radio Shack. 
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	- Wilmington Trust hid a bunch of bad loans.
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Barry Ritholtz 
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(Read the News Roundup) 
	- If You Can't Say "I Was Wrong" You Should Not Manage Money 
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	- Classic Cars -- a Vintage Investment?
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	- Be Humble, Become Wealthy 
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