Here are the latest additions to my Instapaper:

• Shadow inventory backlog still growing (FT Alphaville)
• The Tyranny of Defense Inc. (The Atlantic) Hey, I was just discussing this!
• Why You Shouldn’t Trust Wall Street’s Top Stocks for 2011 (WSJ)
• Is Fannie bailing out the banks? (Fortune)
• How Wall St. execs bankrolled GOP victory (MSNBC)
• The Lie Guy (The Chronicle Review)
• The Man Who Spilled the Secrets (Vanity Fair)
• Ikea’s war on Edison’s light bulb (VentureBeat)
• Cyberspace When You’re Dead (NYT Magazine)
• Citizen Kubrick (Guardian)

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.

13 Responses to “Thursday’s Long Reads”

  1. The 27th Harbin International Ice and Snow Festival will kick off on January 5 in the capital of Heilongjiang Province, according to Harbin Tourism Administration.

    Wow! Fantastic work!

    If this is the type of creativity we can expect from the new China…..BRING IT ON!

    http://news.xinhuanet.com/english2010/photo/2010-12/26/c_13664688.htm

    Friedrich August von Hayek’s time has come

    http://www.theglobeandmail.com/report-on-business/economy/friedrich-august-von-hayeks-time-has-come/article1857752/

    Interesting discussion in the comment section

  2. digistar says:

    The Rise of the New Global Elite.

    “F. Scott Fitzgerald was right when he declared the rich different from you and me. But today’s super-rich are also different from yesterday’s: more hardworking and meritocratic, but less connected to the nations that granted them opportunity—and the countrymen they are leaving ever further behind.”

    http://www.theatlantic.com/magazine/print/2011/01/the-rise-of-the-new-global-elite/8343/

    I just wonder what forms the eventual solutions/revolutions will take.

  3. swag says:

    Hackers find new way to cheat on Wall Street — to everyone’s peril

    ‘Side-channel’ attack on high-frequency trading networks could net a hacker millions of dollars in just seconds — and leave everyone else that much poorer

    http://www.infoworld.com/d/the-industry-standard/hackers-find-new-way-cheat-wall-street-everyones-peril-699?source=IFWNLE_nlt_blogs_2011-01-06

  4. cthwaites says:

    And how tough it will be to reduce those state & public sector benefits:

    http://newsblog.projo.com/2011/01/ri-high-court-public-retirees.html

  5. Jack Damn says:

    The Web Is a Customer Service Medium (ftrain.com)

    “Why wasn’t I consulted,” which I abbreviate as WWIC, is the fundamental question of the web. It is the rule from which other rules are derived. Humans have a fundamental need to be consulted, engaged, to exercise their knowledge (and thus power), and no other medium that came before has been able to tap into that as effectively.

  6. JerseyCynic says:

    Gustavo Dudamel – Conducting A Life

    The importance of music education…
    http://www.pbs.org/wnet/tavissmiley/reports/s1e4/

  7. gman says:

    The atlantic piece on the military industrial complex is timely. The day after the F-35 get potentially pruned a little! The story about the chinese stealth fighter (We are “falling behind”) becomes the most read story on WSJ! PR for the MIC earning big bucks!

  8. davefromcarolina says:

    Thanks for “The Lie Guy.” Whatever you may think of Clancy Martin, “How To Sell” is a great read. As always, I refer those interested in the subject of deception to Sissela Bok. We may never know the truth, but we can know a lie.

  9. jeg3 says:

    “What’s Going to Happen to Financial Reporting in 2011?”
    “…No matter how one may have felt about the wisdom of outsourcing accounting standard setters to groups of individuals who themselves have vested interested in the rules they set, there have been numerous points in SEC’s history when that financial reporting policy should have been seriously reassessed. Although lip service has been given from time to time, a serious reconsideration has never happened.”
    http://accountingonion.typepad.com/theaccountingonion/2010/12/whats-going-to-happen-to-financial-reporting-in-2011.html

    Lets see how much open government NY gets now, instead of:

    “On the Dole, Corporate Style”
    “Many states require no reporting on local tax abatements, Thomas noted. Others do not verify figures independently. Some data — especially discounts on electricity, water, and sewer services — are often obscured or hidden by the authorities on the grounds that they would disclose proprietary information about the beneficiaries of corporate welfare.”
    http://tax.com/taxcom/taxblog.nsf/Permalink/UBEN-8CSNLH?OpenDocument

    “Dear States, Watch Out for the Privatizers”
    http://www.commondreams.org/view/2011/01/03-7

    “Are Private Tolls More Efficient Than Public Tolls?”
    http://mauledagain.blogspot.com/2010_05_01_archive.html#1595065399783888784

    Investment wise:

    Tobin’s Q at 74% overpriced is in the area of 1929. Who knows maybe it’s heading toward 1999 levels, or maybe not (negative territory):
    http://www.smithers.co.uk/page.php?id=34
    What kind of “investor” buys high and sells low.

    Looking to learn about mineral investments (instead of listening to libertarian scammers):
    “Learning Program: Mineral Exploration and Mining for Investors”
    http://www.edumine.com/xedumine/programs/learningprogram08.asp

  10. mathman says:

    Have you seen this yet?

    http://www.oftwominds.com/blogjan11/why-financial-doom01-11.html

    kind of makes all those rosy forecasts a bit moot.

  11. philipat says:

    The Assange case, irrespective of what you think of himpersonally, raises several interesting legal/intellectual issues on the other side of the pond which BR, as a lawyer, might find interesting?. The second of these issues has yet to develop:

    1. I say at the outset that I am NOT a conspiracy theorist, so let’s set aside the issue of why the Swedish and UK Governments have been so aggressive in enforcing a European Arrest Warrant (EAW). UK Extradition law treats all Nationalities the same. However, interestingly, under UK law a murder suspect may only be held for a maximum 96 hours without charge and even a suspected terrorist may only be held for 28 days maximum without charge. However, under the EAW procedures, it would have been possible to hold Assange INDEFINITELY, even though he has, as yet, been charged with nothing in either country. In this particular case the Judge decided that he could be bailed, although under VERY harsh terms. It would appear that the UK Government has surrendered more Sovereignty than the average UK citizen understands to the EU. This is all of deep intellectual and legal concern in UK legal circles. Incidentally, it would also apply to a US citizen detained in the UK under a Swedish arrest warrant (Without having been charged of anything) could be held indefinitely pending extradition hearings. Whilst you Americans appear to have lost all interest in Civil Liberties following 9/11 and subsequent Government brainwashing, this remains a very important issue in Europe.
    2. The inequalities of the US/UK extradition treaty because of the “Lapdog/BLiar” “Special Realationship”. This issue is yet to be explored. But will be once the US Government discloses its case against Assange.

    My point in all of this is, simply, We the people……………………