After being away for a few days, here are some items that look interesting:

Dollar Slump Persisting as Top Analysts See No Bottom (Bloomberg)

Wall Street’s Spin Game (NYT)

How to shrink the banks (Prospect)

Unsustainable Path (Market Talk)

Riding the Waves (Time) A look at Prechter’s theory of social cycles.

U.S. Mortgage Delinquencies Reach a Record High (NYT)

Investors are finally seeing the nonsense in the efficient market theory (Telegraph)

Revisiting a Fed Waltz With A.I.G. (NYT)

The world still can learn from Keynesian economics (LA Times)

• The Big Red Fez: How To Make Any Web Site Better (Book)

A Recession-Friendly (cheap) Email Device (WSJ)

•  Thousands of strange creatures found deep in ocean (SF Chron)

What are you reading?

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

55 Responses to “Monday Catch Up Readings”

  1. Pat G. says:

    Gold suppression, a “conspiracy theory”? Here’s the smoking gun with lots of USG/central bank links for validation purposes.

    http://gata.org/node/8052

    The introduction of a “watered-down” bill to audit the Fed? Reminds me of Col Jacobs (Nicholson); “You can’t handle the truth”. And is yet another fine example of how corrupt our government has become.

    http://gata.org/node/8053

    And last but not least, be careful what you wish for. The reason why de-pegging the renminbi from the sorry ass USD would be a catastrophe for our country not China.

    http://news.goldseek.com/EuroCapital/1258744924.php

  2. executivelevel1 says:

    15 important questions for Bernanke at his confirmation hearing next week.

  3. how soon We forget..

    http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=JFK+Assassination
    ~~
    “I was forwarded the chain of e-mails on the 12th October, which are comments from some of the worlds leading climate scientists written as a direct result of my article ‘whatever happened to global warming’. The e-mails released on the internet as a result of CRU being hacked into are identical to the ones I was forwarded and read at the time and so, as far as l can see, they are authentic…”
    http://www.bbc.co.uk/blogs/paulhudson/2009/11/climategate-cru-hacked-into-an.shtml
    -only to sit on them for over a Month..
    ~~
    “Thanks to a fortunate turn of events, hackers have retrieved secretive IPCC emails discussing the manipulation of data to support the man-made global warming fraud and how the scientists advocating this hoax have been working to silence their peers that don’t support the lie.

    Hopefully, this information has come out just in time to keep President Obama from signing the climate treaty in Copenhagen that will obligate us to pay the bulk of the global carbon tax, a tax not meant to fight climate change, but to finance a tyrannical world government.
    The following is a compilation of articles exposing these fraudsters so check back for updates as this story develops…”
    http://www.globalgulag.com/?p=472

  4. btw, w/the QOTD: “Always borrow money form a pessimist, he doesn’t expect to be paid back.” —Author Unknown

    isn’t that too cute, by half?

    what makes us think that a ‘pessimist’ would be extending loans, in the first place?

  5. call me ahab says:

    from ZH-

    “Here Is Why The Dollar Is Now Effectively Worthless”

    “The dollar in your pocket is now entirely backed only by worthless, rapidly devaluing and subsidized housing.’

    so true, so true-

    http://www.zerohedge.com/article/here-why-dollar-now-effectively-worthless-

    MEH-

    everyone “in the know” knows that global warming is a con game-

    they are beoming more discredited by the day

  6. MRegan says:

    I recommend reading p. 46 and pp. 98-99 of the Chevron 2008 annual report.

    http://www.chevron.com/annualreport/2008/documents/pdf/Chevron2008AnnualReport_full.pdf

    p. 46 Monte Carlo simulation for VaR. I have been asking myself if the SEC rule changes for Jan. 1, 2010 aren’t a means of granting ‘permission’ to what has been industry practice.

    http://eaton.math.rpi.edu/Faculty/Schwendeman/Workshop/MPIReports/chevron95.pdf

    In short, statistical modeling of proved reserves will have an SEC imprimatur. New risk vector for investors.

  7. buzzp says:

    Hey Barry, your quote of the day has a typo:

    Always borrow money form a pessimist,

  8. buzzp says:

    And thanks for the Berlin pix, etc. – your thoughts very interesting – sorry you didn’t get to Topography of Terror – would look forward to your thoughts – although by now you’ve heard about it from two of us and I don’t want to oversell

  9. bsneath says:

    Regardless of your personal beliefs about global warming, the recent emails and other documents from climate scientists should serve as an example of what can go wrong when one embarks down a path where “the end justifies the means”.

    Many of the leading scientists in total resorted to political maneuvering, advocacy, peer exclusion, data suppression, document deletion, and most likely misrepresentations and false presentations instead of staying on the path of professional research. Too soon to say, but the credibility of the entire work effort to date may be at risk as a result.

    (And yes I do see the conflict/irony in the fact that the “means” of obtaining these documents was probably improper – aka illegally hacked)

    http://online.wsj.com/article/SB125883405294859215.html?mod=WSJ_hpp_sections_world

  10. Brendan says:

    @Mark E Hoffer: Upon more detailed review of the information, the email hack turned out to be a non-story. The scientists were not talking about manipulating data. They were just questioning errors in their data and using terms that the hacker was unfamiliar with, but sounded suspicious. That’s why it faded. Take a look at:

    http://www.wired.com/threatlevel/2009/11/climate-hack/

    The people, including the person who hacked the emails in the first place, who wanted the emails to fit their opinions or to make good headlines took some quotes out of context to support that there’s some tin-foil conspiracy amongst scientists to fabricate the theory of anthropogenic global warming. What their emails really amount to is scientists asking each other, “where is the global warming” in the context of “why do our models show that there should be warming at this location, but certain sensors on the ground don’t. What did we miss in our model that would account for the difference in these particular instances.” It’s no different than an economist asking another economist, “If the fed is printing all this money, where is the inflation?” Just because an economist asks this question, it doesn’t prove that the idea that printing money will lead to inflation is fabricated. There’s something missing in the first person’s model, and their asking other experts what they might be missing. Once reputable sources reviewed these emails with enough detail, they realized it is a total non-story, and that’s why it’s been ignored. You may remove the Reynold’s Wrap now.

  11. call me ahab says:

    re the Bloomberg DGDF article-

    BR- your take? If it is just monetary theory w/ no other factors- $ has nowhere t go but down- however- assuming another crisis occurs- likely than that the $ would gain-

    if the monetary machinations of Bernanke continues- regardless of the debasement of the currency- and no other crisis presents itself- than i would think the blowing of the equity/commodity bubble could go on at least another year-

    unless- rates on treasuries/bonds increase markedly- reflecting the risk inherent in BB’s strategy- then the Fed would probably have to do something to protect the price of treasuries-

    ??? What do you think?

  12. call me ahab says:

    from the Huffington Post-

    “Democrats Contemplate Direct Government Hiring”

    http://www.huffingtonpost.com/2009/11/23/democrats-contemplate-dir_n_367872.html

    if anyone remember’s CETA- then you’ll know what this is all about-

    government at it finest- that is- if throwing even more money out the window shows you are at least good at something

  13. Brendan, et al.,

    see: “One of the documents from this collection of information is a short pamphlet put out by the “communications agency” (i.e. free-market ministry of propaganda) Futerra Sustainability Communications, which is headquartered in London and has offices in New York. Futerra, according to their website, specializes in propaganda focused on buzz words like “green,” “ethical,” “climate change,” and “corporate responsibility.”
    The contents of this pamphlet are not revolutionary in the field of propaganda, but they show very plainly how modern propaganda techniques are employed. Propaganda, also known as advertising, public relations, or communications, is focused on mass persuasion. It is a multi-billion dollar industry that both relies on academic research, and funds academic research into human behavior. The purpose of this intensive study of human behavior is to discover new methods of mass manipulation.
    The pamphlet I am reviewing here is focused on “communicating” to the public concerning climate change. This pamphlet is the property of Futerra, and I am sure that they charge an obscenely high price for it, which would typically prevent the public from ever seeing it. Due to copyright laws, I can only present excerpts of the pamphlet, for the purpose of review and criticism.
    The title of the pamphlet is “The rules of the game.” It is explained that “The game is communicating climate change; the rules will help us win it.”

    The rules are as follows:…”
    http://salem-news.com/articles/november222009/greenscam_2_ew.php
    ~~
    “Our previous story on global warming fraud reminded me of this Michael Crichton interview from a few years ago. It’s a 5-star appearance. Crichtdon graduated Harvard Medical School, was a published scientist, and was a fellow at the Jonas Salk Institute before becoming a Hollywood writer/producer, so it’s not really a fair fight. Al Gore and the entire accepted dogma of man-made global warming (AGW) is obliterated.”
    http://dailybail.com/home/michael-crichton-annihilates-al-gore-and-global-warming.html
    ~~
    “…A fascinating, hot-off-the-presses story emerges from the emails that were hacked yesterday from the University of East Anglia’s Hadley Climatic Research Centre. It is one of many exchanges that shed light on the priority that the global warming alarmists give to politics and career advancement over science.
    The story began when Steve McIntyre, the same researcher who was largely responsible for destroying Michael Mann’s “hockey stick” graph purporting to show unprecedented warming in the 20th century, turned his attention to a famous article published by Keith Briffa of East Anglia’s CRU in 2000. This article analyzed the diameters of tree rings, including rings from an area called Yamal in Siberia, and conveniently generated another hockey-stick shaped graph. You can read an account of the ensuing controversy here. McIntyre’s work appeared to show that Briffa had cherry-picked trees in order to get the result he was looking for. One fact that this story highlights is that global warming alarmists publish their results in scientific journals, but refuse to make the underlying data publicly available so that the validity of their analyses can be checked.
    McIntyre’s revelations caused a firestorm of controversy, in response to which the alarmist community circled its wagons to fend off the threat from an outsider. This process can be clearly seen in the East Anglia emails…”
    http://www.powerlineblog.com/archives/2009/11/024995.php

    there’s more than one story about those e|mails/AGW, than a ‘cut-out’ in “Wired”..

  14. buzzp says:

    As to what I’m reading, Saturday’s Times TV network analysis is on the order of a day late and a dollar short – for those of us “in cable before cable was cool” (to coin a phrase), about 25 years too late

    More importantly, the article missed what to me is the take-away: with the disappearance of boxcars, CPMs will decline – that’s bad for all ad-supported TV, no matter how you look at it – CPM was always top down pricing (best goes first, the rest down from there), and without the “high-priced spread” CPM rates will come under attack – sure, ESPN will surface as the new boxcar champ (until NFL-net takes the punchbowl away) – nevertheless, it will all begin to come down to internet (lower) pricing – of course the middlemen have no desire to see that happen (it takes everybody’s punchbowl away if less $ slosh around), but sooner or later the advertisers will wake up

    This will have a lasting impact on major media players.

    In kids, which I know about alot, total ad $ stagnated as the broadcast networks collapsed (3 broadcast nets had 85% of Kids 2-11 Sat AM market pre-cable; now if they can put together 15% I’d be surprised). In mid-80s, the 3 of them split up approx $500-600 MM/yr – now, probably lucky to get $50MM for Sat AM total (and not all kids, as the viewers aren’t there)

    I always thought what happened in kids TV happened sooner or later in the rest of the market.

    Note: I can remember analyzing kids numbers in Nielsen books in the mid-80′s, marveling at the Sat AM PUT levels staying high and the network numbers tanking – in expanded-channel households (what some used to call HH that had more than just 3 net over-air), kids network numbers were below 60% even then, and, of course, tanked completely by mid-90′s – in a piece 11 years ago, I pointed out that Sat AM network top 5 shows had declined from 30 ratings (not share) to approx 5 in less than 10 years (kids have no media memory; market turns over completely every 6-7 years)

  15. bergsten says:

    The “How to Make Any Web Site Better” book is from the beginning of 2002. You been messing with the time machine again, BR?

  16. bergsten says:

    @MEH (way back there somewhere) Pessimists lend money so that, when they don’t get paid back, they can become even more pessimistic.

  17. bergsten says:

    @MEH (less far back) Doesn’t it annoy you when people post commentary and then, rather than cite the original source, cite a news or blog article?

    Me too.

    So, I went off and actually found the pamphlet your source speaks of. It (and others) can be found here:
    http://www.futerra.co.uk/revolution/leading_thinking

    Not being schooled in the ways of propaganda (and fearing their removal) I downloaded copies for later perusal…

  18. call me ahab says:

    Ex-CNN anchor Lou Dobbs is considering running for president in 2012

    “http://www.nydailynews.com/news/politics/2009/11/23/2009-11-23_excnn_anchor_lou_dobbs_is_considering_running_for_president_in_2012.html”

  19. call me ahab says:

    ask me not- why i put quote marks around the Dobbs link- anway this should work- and if not- copy and paste if you find it interesting

    http://www.nydailynews.com/news/politics/2009/11/23/2009-11-23_excnn_anchor_lou_dobbs_is_considering_running_for_president_in_2012.html

  20. bergsten says:

    @MEH (continued) Oh, and here’s the really cool part. You want to know who’s paying for all of this Futerra stuff? The UK government and the UN.

  21. Pat G. says:

    @ ahab

    I mentioned that I thought he had “political aspirations” a couple of weeks ago when I posted the link announcing that he was quitting CNN. I guess I was right… He does have a big TV following.

  22. call me ahab says:

    pat g-

    a movie star- yes- a commentator- never happen-

    a movie star of any party is a shoe in-

    if Arnold was American born- he would win hands down in 2012

  23. bergsten,

    “our story
    Futerra arose from the experiences of its co-founders, Solitaire Townsend and Ed Gillespie, in the late 1990’s, while reading for Masters degrees in sustainable development. They weren’t new to the field then either. Soli and Ed had worked extensively in the environment sector and CSR consultancy.
    They were frustrated by the unsophisticated communications around sustainable development, and the dull and worthy messaging of corporate social responsibility. Everyone assuming that an ‘environmentalist’ meant sandals and brown rice didn’t help either. From research to short films, events to PR, the early days of Futerra were full of experimentation and learning. Supported by a grant from the National Endowment for Science, Technology and the Arts, they started a major research programme to develop guidelines for sustainability communications, now known as our popular 10 Rules. The short films One Minute and Seasons Alter (starring Keira Knightley) are also products of these early days.
    Soon after the ‘Futerra project’ went live, more team members joined. In the years following, we’ve built an award-winning international agency true to the principles on which we were founded:
    To make sustainable development so desirable … it becomes normal.”
    http://www.futerra.co.uk/about_us/our_story

    what are you talking about? re: “You want to know who’s paying for all of this Futerra stuff? The UK government and the UN.”

  24. mathman says:

    You don’t have to believe in climate change but it’s happening, it’s measurable and it’s going to get much worse since we’ve not heeded the warnings for about 50 years now. i firmly believe it’s too late now – that our species is toast in the coming decade (and we’ll probably take a lot of other species with us in the process).

    http://news.yahoo.com/s/afp/20091123/ts_afp/australianzealandantarcticaclimateiceberg

  25. mathman says:

    sorry, DECADE should be CENTURY

  26. Mannwich says:

    Even the WSJ taking a more pro-regulatory stance than the O administration. Strange days indeed.

    http://www.huffingtonpost.com/2009/11/23/emwall-street-journalem-s_n_368025.html

  27. bergsten says:

    @MEH 6:59pm — I based the statement on the various Futerra document’s introductions…

  28. call me ahab says:

    well- far be it for me to disagree with a man called “mathman”-

    and in the end- it’s not saving the Earth- the Earth will be here for billions more years- and will of course survive any stupid thing we could do-

    what the climate change/global warming folks mean to say is saving the Earth so it is exactly how we see it now- for ever and ever and ever-

    tell that to the Inuit that crossed the Bering Land Bridge- wonder what they were thinking when the area was slowly submerged underwater-

    seems to me they survived that tragedy-

    my guess- the Earth on its very own can cause incredibly more changes than anything mankind can do- we’re not all that-

    but if you want to worry about it- go ahead

  29. CNBC Sucks says:

    ahab wrote: “‘Democrats Contemplate Direct Government Hiring’…government at it finest”

    The Republicans figured that out first, actually. It’s called our trillion-dollar military. I heard they are still hiring, too.

  30. Mannwich says:

    I’d much rather the gov’t pay people to do actual work for their respective communities and our country (how about repairing/replace all that infrastructure that’s falling apart?) than to do nothing every day on seemingly endless unemployment payments. That does nobody any good in the end as people lose their dignity, skills, ambition and in some cases the lives and relationships they had. Might as well put folks back to work doing SOMETHING for those checks.

  31. VennData says:

    LHC Has First Collisions After Years of Waiting

    http://press.web.cern.ch/press/PressReleases/Releases2009/PR17.09E.html

    Where are all the teabaggers who said this would destroy the Earth?

    I say make them eat GM food and read academic studies on atmospheric carbon.

  32. call me ahab says:

    manny-

    CETA was a colossal joke- everyone knew it- it was nothing more than welfare by a different name-

    CNBCS-

    no doubt- but both parties have continued that charade

  33. VennData says:

    Today, David Bianco raised his 12-month target for the U.S. stock market benchmark to 1,275 (up 6.3%) from his previous target of 1,200.

    http://www.bloomberg.com/apps/news?pid=20601103&sid=aOCi2iNVdH1w

  34. CNBC Sucks says:

    Agreed, ahab.

    My point was that as long as we have a humongous military, we will always have a huge government. The spending on “guns” on the right is only used as an excuse for more spending on “butter” on the left, and vice versa. We spend and spend on guns and butter until we have exhausted all credit and the whole thing collapses. Or not.

    Who is going to be the next Ron Paul? I think Ron Paul is getting old (literally).

  35. Jessica6 says:

    Peter Schiff, Jim Rogers etc. fearmongering over the US dollar has likely paid handsomly for them this year but only time will tell if that continues.

    Jim Rogers is a commodities perma-bull (gee, I wonder why?) while Schiff is an ‘Austrian school’ ideologue. Both love gold but I suspect it has more to do with either talking their book or with a rather distorted view of economic history.

    And while GATA always barks on about gold supression (I find them just a liiiitle on the tinfoil hat side), I find the ICE cancellation of DXY trades on two separate days where some supposedly ‘fat-fingered’ traders caused it to rocket a little strange to say the least and quite the opposite of the ‘gold supression’ claim.

    I suspect that at some point the USD will turn – there’s certainly no solid, fundamental reason why the Euro should be performing the way it has since the ECB is ‘printing money’ too and there are plenty of other countries with worse debt-gdp ratios and with fewer nukes to boot.

    As for ‘climate-gate’ – I doubt much will come of this. There is an incredible amount of vested interest in keeping fear-mongering about ‘global warming’ going. It’s downright bizarre to insist on carbon caps at a time when both container shipping and truck transport have declined so dramatically since the beginning of the economic crisis (especially if you believe the claim that one container ship is the equivalent to 50 million cars*), and when the most recent temperature trend has been cooling rather than warming (which in these ‘hacked’ emails, the scientists themselves agree is what is happening – just that they can’t account for it).

    There is evidence of stone-walling freedom of information act requests and interfering with the ‘peer review’ process which is certainly a bit rich from a group that also seem to claim ‘peer review’ is sacrosanct, but that’s nothing that somene who follows various skeptic’s complaints don’t already know.

    In any case, here’s a decent summary that shows it’s more than simple ‘cherry-picking’ or a matter of ‘misinterpretation’.

    http://bishophill.squarespace.com/blog/2009/11/20/climate-cuttings-33.html

    There’s some speculation as to whether this really was a hack at all – it could possibly have been a leak by an insider, or even worse, a directory of files ended up being put on a server that anyone could access.

    At any rate, it just seems that our entire political-economic system is incredibly corrupt in nearly every direction you look.

    *http://www.greencarreports.com/blog/1020063_pollution-perspective-one-giant-cargo-ship-emits-as-much-as-50-million-cars

  36. call me ahab says:

    “Where are all the teabaggers who said this would destroy the Earth? I say make them eat GM food and read academic studies on atmospheric carbon.”

    VD-

    why don’t you start your own web site- something about teabagging possibly?- you seem to be obsessed with it-

    possibly a suppressed memory or two- you know- teabagging memories?

    good luck w/ the site or the therapy- either way

  37. bsneath says:

    @Brendan: You must not have reviewed the emails thoroughly. If you had, you would have come to a different conclusion. Deleting emails and instructing others in public agencies to do likewise is most likely a criminal offense. Getting editors removed from publication review boards, threatening journals with withholding publications if they consider papers with alternative views and discrediting scientists who wish to publish papers that do not conform to the “party line”, as are eluded to and may in fact have happened, is unprofessional in the least. Withholding information that has been requested through a formal public information request will get one fired. AND, it does appear that graphs and data have been manipulated in order to present a more alarming case than if the raw data were presented. It is pretty much accepted now that the famous “hockey stick” graph used by Al Gore and variations of it have been discredited as being fabricated based on cherry picked data and or spicing two data sources together to prevent downward slopes that otherwise would show up.

    This is NOT a non-event. You will not be able to contain this puppy. Even the Washington Post has printed a quite scathing article about these emails. Only about 1/3rd of the data has been reviewed is my understanding. Once the underlying codes and the programmer’s notes are made public, there may be more revelations to follow. Stay tuned.

    All that being said, my primary point is that this is what happens when people do not act with integrity. It is no different than Bush’s WMD. Half of the population lost faith in him mainly because they perceived that he lied about why we invaded Iraq. Well an awful lot of folks now perceive that climate scientists have lied about global warming. Thus, they have failed.

  38. CNBC Sucks says:

    Whoa, did Ritholtz just have a female poster?

    I thought we went all-male ever since Andy seduced karen to his Sigma Nu blog.

  39. Wes Schott says:

    …you guys gotta see this video, especially ahab-

    http://www.nbc.com/saturday-night-live/video/clips/china-cold-open/1178451/

  40. Thor says:

    Palin/Dobbs 2012 Baby! All the way!

  41. Mannwich says:

    @Thor: My wife and I are out of here if that happens. Not kidding.

  42. Thor says:

    Manny – I’ll be right behind you. I’m gonna shack up with CNBC, I hear he’s got a European connection.

  43. CNBC Sucks says:

    LMAO. I really tore into Palin on my blog before the election, but since she won’t be President for at least another three years, she’s looking kinda sweet. I do have to admit she has a certain physical charm…nice skin, pretty face, good figure, great hair.

    As a registered Republican, all I gotta say, Manny, is: America…love it or leave it!

  44. CNBC Sucks says:

    Hey, did anybody see the Eagles pull down Hester’s pants during a tackle last night? THAT was hilarious.

  45. Brendan says:

    @call me ahab: The Inuit were/are nomadic (or semi-nomadic, if you prefer) people who set up semi-permanent homes at locations based on the conditions in a given year. The baring land bridge disappeared over the course of thousands of years. I doubt it was even a noticeable adjustment. Many cities today are pretty well fixed as they are built. So what’s your point? If we were all nomadic people, droughts, rising sea levels, snow and ice-pack loss, and other extreme weather wouldn’t be much of a problem, ’cause we could just relocate? Too bad I’m not a nomad. It’s not as if there are trillions of dollars of infrastructure that took decades to build at risk, right? Why worry about the enormous costs of dealing with this sometime down the road; it’s not like it would bring down your standard of living, right? Why deal with something now when you can deal with at later at a much higher cost. Makes perfect sense to me. Plus, I love smog and air pollution, why would I ever want to change that?

    You’d be hard pressed to find “global warming folks” who will argue that there are no long term shifts in climate. In fact, the science relies on this knowledge. The concern isn’t that some day in a few thousand years an area that was once grasslands will be a desert and vice-versa based on slowly shifting climate patterns. The concern is a repeat of the dust-bowl on a global scale (i.e. short term shifts that would be catastrophic since our complex society relies on a predictable climate). You’re basically suggesting that had the knowledge to prevent the dust-bowl been available prior to it, you wouldn’t bother to use it. This is even though the benefits have clearly outweighed the costs in the long run. You’d chose to repeat the mistake for short term profit. Silly me and my crazy global warming folks for thinking ahead and bringing things like “facts” based on “science” to the table instead of just spouting Glen Beck’s wacky populist antics!

  46. VennData says:

    Charlie Gasparino claims

    “….unemployment keeps rising because small businesses can’t get credit to expand …”

    http://www.thedailybeast.com/blogs-and-stories/2009-11-22/is-this-another-bubble/?cid=hp:blogunit1

    Yet the October 09 NFIB survey of small business conditions said only 4% of small business people say credit is their biggest problem.

    http://www.smallbusinessadvocate.com/small-business-interviews/bill-dunkelberg-7465

    And where does Charlie Gasparino get his “data?”

    “…How do I know this? When I speak to CEOs and others in the executive suites of our big banks…”

    Maybe he should stop yapping with Wall Street CEOs and start looking at some data.

  47. Brendan says:

    @bsneath: you mean the same Washington Post that published in an article on Sunday that “Today, wind and solar power combined are just one-sixth of 1 percent of American energy consumption.” Turns out they aren’t very good with the “facts.” Compare tables 1 and 8 of this page:

    http://tonto.eia.doe.gov/cfapps/STEO_Query/steotables.cfm?periodType=Annual&startYear=2006&startMonth=1&endYear=2010&endMonth=12&tableNumber=3

    He’s only off by a factor of about four or five. The WP does not have a very good reputation on this subject.

    So this one incident, which I’ll agree with you, doesn’t LOOK very good for the climate scientists, is going to ruin climate science’s reputation. I don’t buy that. Even if there does turn out to be some scandal, it’s no worse than what the Washington Post just did Sunday, and does on a regular basis, by the way. They manipulated the data to fit their story. If this one thing matters that much, then what the Washington Post says doesn’t matter, either, since their reputation must be completely ruined, too. Unfortunately the world doesn’t work like that. Also, you’re deluding yourself if you think the only reason the American people lost faith in GWB was because of the WMD thing. I’d even argue that the administration’s handling of Katrina was a bigger hit in the grand scheme of things. But at the end of the day, it was many things. Even if you can score one for team science-deniers here, it’s not going to make up for the hundreds of instances where the deniers have been clearly wrong, including the most recent ludicrous talking point that the earth is “actually cooling.”

  48. Wes Schott says:

    hey, you guys, check out the video i linked at 7:55, you will really like it – sorry CNBCS, but the “Chinese” biatch has got big hooters, not…

  49. TakBak04 says:

    The Real Screw Job – AIG Used as Funnel of U.S. Taxpayer Money
    Submitted by Robert Oak on Sat, 03/21/2009 – 16:34.

    See these two screws on the left? Think of the little screw as AIG bonuses. That big nasty long screw is AIG funneling $183 billion dollars of your money to foreign banks and to banks that already have wads of cash on hand. Those two screw jobs are not even to scale because the large screw would go past the page. Look those two screws over. Now which one do you believe Populist outrage should be focused on?

    So we are all outraged over AIG bonuses. Now lets amplify that outrage to the scale of the ripoff. The bonuses are only 0.001 of the real ripoff that just happened. Your tax dollars were funneled through AIG to foreign banks and to U.S. banks for worthless assets. Your own blind rage is a smoke screen, being used by media elites so you do not see the real screw job going on.

    In an Instapopulist earlier we showed the AIG payout disclosure. Now I want to amplify those payouts. In the attached file AIG lists payouts to counter parties.

    More at……
    http://www.economicpopulist.org/?q=content/real-screw-job-aig-used-funnel-us-taxpayer-money

  50. TakBak04 says:

    It’s No ******* Wonder that State Governments Can’t Pay Their Bills
    Submitted by manfrommiddletown on Sun, 11/22/2009 – 16:25. One Big Hole

    The impending state budget crisis is something that has been covered in depth here. Just to remind everyone just how bad it’s going to get, a picture that says a couple hundred billion dollars.

    http://img134.imageshack.us/img134/1922/9808sfpf2web2.jpg

    Link:

    http://www.economicpopulist.org/content/its-no-wonder-state-governments-cant-pay-their-bills

  51. TakBak04 says:

    * NOVEMBER 1, 2009, 6:52 P.M. ET

    Galleon and the Trouble With Insider Trading
    On any given day, someone will have an edge, but all investors can do well thinking long term.

    By ANDY KESSLER

    It happened almost every earnings season. My hedge fund would own a million shares in some company and two weeks before it was to report quarterly earnings, its stock would start dropping. There was no news to explain it. We were in the dark, even though it was my job to know. Inevitably, the company would report a disappointing quarter, missing Wall Street’s earnings expectations by a penny or two. Someone knew. A salesman’s brother-in-law heard a few deals didn’t close. Or maybe an insider was singing.

    The recent arrest of Galleon Group hedge fund’s Raj Rajaratnam on insider trading charges puts a spotlight on this game. Is trading on industry knowledge widespread? Absolutely. That’s how many hedge funds and mutual funds get an edge. Is insider trading also widespread? Only the Securities and Exchange Committee’s wire-tappers know for sure.

    Stock markets trade on information. Millions of people generate billions of trades every day. Each trade contains a tiny piece of information built into it. (“I think Apple is killing Nokia” or “I think GM is toast.”) Eventually we are proved right or wrong, and we make money or we don’t. In the long run, the market is always right. On any given day, your guess is as good as mine.

    As long there have been markets, there have been those who have tried to get an edge. Whoever could get the first news from a battlefield, of an oil discovery, or figure out that a company’s earnings were better than anyone expected could reap almost instant profits. Edward Calahan invented the stock ticker (later improved by Thomas Edison and Alfred Vail) just so J.P. Morgan could sit in midtown and get stock quotes from the New York Stock Exchange faster than anyone else. Everyone else had to wait for the Dow Jones Customers’ Afternoon Letter with closing prices.

    Now it has come to the point where firms are spending millions and putting wicked fast computer servers next to exchanges so they can have an edge and, through a system of high-speed or “flash” trading, figure out which way individual stocks or the markets are heading before anyone else.

    More at……

    http://online.wsj.com/article/SB10001424052748703363704574503150720169662.html

  52. call me ahab says:

    Wes-

    funny link dude- much truth in that

    Brendan-

    who cares???????? put me to sleep already- the dust bowl wasn’t caused by global warming but by farms being established in prairies-

    it all comes down to too many people really-

    so – someone could jump off a bridge if that was their concern-

    i like things clean- clean air, clean water, clean land- i’m all in- so let’s be honest- but global warming is nonsense-

    infrastructure? are you serious????? people have been building and re-building forever- that has never been an issue and never will be-

    think Dresden- think fire bombing- think Nagasaki- think atom bombs-

    the earth doesn’t need us- never has- never will- think billions of years- nothing we can do can ever make a difference in that time-

    so in the end- your concern is will the earth be as we know it right now-

    silliness if you think about it

  53. bsneath says:

    Global Warming With the Lid Off
    The emails that reveal an effort to hide the truth about climate science.

    http://online.wsj.com/article/SB10001424052748704888404574547730924988354.html?mod=WSJ_hpp_sections_opinion