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The Big Picture



Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media



Last Build Date: Sat, 03 Dec 2016 10:37:54 +0000

 



Ben Folds: NPR Music Tiny Desk Concert

Sat, 03 Dec 2016 01:00:34 +0000

Watching Ben Folds perform his songs on piano at the Tiny Desk, there seems to be a direct line between thought and expression, except perhaps when he stumbles or forgets a line or two. Folds has a knack for plainspoken, smartly crafted words that sometimes sting and always seem to speak the truth — like…

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Succinct Summation of Week’s Events for 12.216

Fri, 02 Dec 2016 21:30:17 +0000

Succinct Summations for the week ending December 2nd, 2016 Positives: Nonfarm payrolls rose to 178k, up from 161k previously. Unemployment falls to 4.6%, a new cycle low. Third quarter real GDP was revised up from 2.9% (SAAR) to 3.2%. Personal income rose 0.6% m/o/m, above the 0.4% expected. PMI manufacturing index rose from 53.4 to…

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Mansions Don’t Produce Much Alpha

Fri, 02 Dec 2016 20:00:53 +0000

I almost let an article about how great luxury real estate has performed sneak by without comment until I saw a dubious comparison to the stock market. Here’s what caught my eye: Adjusted for inflation, that’s a compound annual growth rate of 8.7%. The S&P 500 stock-market index averaged an inflation-adjusted annualized return of just…

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State of Small Business

Fri, 02 Dec 2016 17:00:12 +0000

      11.21.16 Why, if so much has improved in recent years relating to small business, are there fewer startup firms, comparatively? Forefront explores what’s improved, what hasn’t, and what’s possibly to come for Main Street firms. (Editor’s Note: The definition of “small business” varies, and often 500 employees is used as the cutoff.…

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EBI Conference Discussion

Fri, 02 Dec 2016 14:00:44 +0000

Nice discussion from Robin Powell with Josh, myself and Morgan: Source: Evidence Investor

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10 Friday AM Reads

Fri, 02 Dec 2016 12:41:01 +0000

Finish your week strong with our morning train reads: • How Humans Became ‘Consumers’: A History. Until the 19th century, hardly anyone recognized the vital role everyday buyers play in the world economy. (The Atlantic) • Australian boys recreate $100k life-saving drug for $20 (BBC) see also The true story of America’s sky-high prescription drug prices (Vox) •…

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Outside Looking In: Why Has Labor Force Participation Increased?

Fri, 02 Dec 2016 10:00:20 +0000

Outside Looking In: Why Has Labor Force Participation Increased? Ellyn Terry FRBAtlanta, November 22, 2016     The labor force participation rate (LFPR) is an estimate of the share of the population actively engaged in the labor market. The LFPR has increased about 30 basis points over the past year (from the third quarter of…

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Johammer J1 , a cruiser

Fri, 02 Dec 2016 01:00:12 +0000

$27K for a full on electric bike? Interesting . . . Source: Bloomberg

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Seattle Minimum Wage Experiment is Over

Thu, 01 Dec 2016 21:00:51 +0000

@TBPInvictus here: In light of a recent monthly release from the Bureau of Labor Statistics (BLS), time for a quick trip to the glorious pacific northwest and the Seattle, WA area to revisit what’s been happening there in the wake of that city’s rising minimum wage. You may recall that even prior to Seattle’s minimum…

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