● Running Out of Water: The Looming Crisis and Solutions to Conserve Our Most Precious Resource
by Peter Rogers and Susan Leal
Water: The Epic Struggle for Wealth, Power, and Civilization
by Steven Solomon
Bottled and Sold: The Story Behind Our Obsession with Bottled Water
by Peter H. Gleick
Review via Foreign Affairs
“Three new books about water agree that the world is facing serious water crises but have very different ideas about how to address them, especially when it comes to deciding what roles the public and private sectors have to play.”
Daily Archives: September 24, 2010
ANOTHER DURABLE GOODS REPORT, ANOTHER ENCOUNTER WITH THE NEW NORMAL
New orders for durable goods fell 1.3% in August, the Census Bureau reported this morning. The drop more than reverses July’s 0.7% rise, which was the first since April. But the news isn’t quite as bad as the headline number suggests. Most of the decrease was due to a steep fall in orders from the volatile transportation sector. Excluding this group shows that new orders actually rose 2%. Meanwhile, new orders for capital equipment excluding aircraft jumped 4.1%, rebounding from the 5.3% drop in July. Corporate investment, in sum, rebounded last month.
THE RISING INFLUENCE OF BETA
The Wall Street Journal has an intriguing story today that highlights the case for thinking that macro forces are running the investment show these days. Or, to cite James Bianco of Bianco Research, as he opines in the article: “Stock picking is a dead art form. Macro themes dominate the market now more than ever.”