Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Wolf Richter www.wolfstreet.com www.amazon.com/author/wolfrichter The price of oil continues to crash relentlessly. WTI trades at $49.80 as I’m writing this Monday evening, down 5.5% for the day, and down 54% since June 2014. The oil-price plunge is eating into the American oil boom, munching on income statements and balance sheets of drillers that have gorged…
main NEW YORK (CNNMoney) New York City is getting even more unaffordable. The average sales price for a Manhattan apartment rose to a new record of $1,728,831 million in the fourth quarter, up from $1,700,581 in the first three months of the year, according to Halstead Property. Halstead is one of New York City’s big…
For the 4th month in a row, US Factory Orders have fallen MoM. November’s 0.7% drop is worse than the 0.5% decline expected and leads to the biggest yearly drop since March 2013. Capital Goods New Orders tumbled 0.8% as did non-defense capital goods shipments (down 0.9%). Having risen for 3 months, November saw a…
Markit’s US Services PMI missed expectations of 53.7, priting at 53.3, its lowest since Feb 2014 (mid Polar Vortex). From record highs in June, PMI has plunged non-stop for six months leaving Markit noting Q4 growth is looking more like 2.0% than the 5.0% exuberance in Q3. US Services PMI plunges… and along with…
NEW YORK (CNNMoney) If you are a music fanatic and money is no issue, you might want to consider a Sony Walkman. Seriously. Sony’s new ZX2 Walkman costs $1,119.99, and it plays music at a super-high resolution. That means songs on Sony’s new Walkman sound more life-like than the typical CD, MP3 or streaming media…
Platisher — the ugliest journalism word of 2014 — lives on in 2015. (Despite the fact that I can’t hear it without thinking: “Feather-footed through the plashy fen passes the questing vole.”) It survives because it’s useful, describing a very of-the-moment idea: an online outfit that is both a publisher (paying staff or other contributors…
It was less than a week ago when Zero Hedge broke the news that for CNBC, 2014 Was The Worst. Year. Ever. Much to the embarrassment of CNBC, its staunch defender David Rosenberg, and not to mention its advertisers who realized they overspent substantially for the reach they were promised and received instead, the report…
Thirty-four years ago, at the launch of Ted Turner’s Cable News Network, the founder made a grandiose and specific promise about his newly created round-the-clock operation. “Barring satellite problems, we won’t be signing off until the world ends,” Turner declared. And in anticipation, he prepared a final video segment for the apocalypse: We’ll be on,…
This Is How We Forget History January 5, 2015 – Features I’m usually patient with new TV shows. I’m a Fringe fan, after all: sometimes it takes a few episodes or seasons for a show to find its legs. So like, I was skeptical about AMC’s Halt and Catch Fire, but willing to give it…