Some interesting reading to start off your week:

• Scenes From the Madoff Masquerade (NYT)
Roger Lowenstein: Buffett on the Spot, or What were you thinking, Warren? (Newsweek)
• How Your Journalism Sausage Gets Made (Forbes, Part One and Part Two)
• Lawyers got it right on the foreclosure mess (WaPo) See also Warning signs of foreclosure crisis were ignored (WaPo)
• Nassim Taleb on Living with Black Swans (Knowledge@Wharton)
• Don’t let banks gamble with taxpayer money (FT.com)
• Bill Gross Battles Dealers on Outlook as Treasuries Gain (Bloomberg)
• The Sharing Economy (Fast Company)
• What Lucky People Do Different (Jonathan Fields)
• Rude Boys: The birth of the Beastie Boys—an oral history on the 25th anniversary of Licensed to Ill (NY MagI’m more of a Paul’s Boutique kinda guy

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.

14 Responses to “Monday Reads”

  1. formerlawyer says:

    How about this for a painful laugh:

    http://www.gocomics.com/nonsequitur/

  2. Bokolis says:

    Polly Wog Stew for me…without that, the Beasties would never have been cool enough to get close to Bad Brains.

    I watched Licensed to Ill turn epithet-spewing white boys on to hip hop…exactly the muthafcukas Beasties were lampooning. As a white boy who grew up in the pjs and had been listening to hip hop since the late 70s, I remember thinking, great, now y’all’re going to ruin it for me.

    Reading that brought back fond memories of channel 68 and crackhead-era Avenue A. Back then, the crackheads looked at me like I was crazy for having the balls to come down Ave A wearing my hear long with shorts with Docs. These days, the ungroomed and the puppies (poor urban professionals) down there look at me like I’m crazy because I’m clean cut with slacks and a button-down. WTF?!

  3. “…The appellee for many years past has owned and operated a small farm in Montgomery County, Ohio, maintaining a herd of dairy cattle, selling milk, raising poultry, and selling poultry and eggs. It has been his practice to raise a small acreage of winter wheat, sown in the Fall and harvested in the following July; to sell a portion of the crop; to feed part to poultry and livestock on the farm, some of which is sold; to use some in making flour for home consumption, and to keep the rest for the following seeding. The intended disposition of the crop here involved has not been expressly stated.

    In July of 1940, pursuant to the Agricultural Adjustment Act of 1938, as then amended, there were established for the appellee’s 1941 crop a wheat acreage allotment of 11.1 acres and a normal yield of 20.1 bushels of wheat an acre. He was given notice of such allotment in July of 1940, before the Fall planting of his 1941 crop of wheat, and again in July of 1941, before it was harvested. He sowed, however, 23 acres, and harvested from his 11.9 acres of excess acreage 239 bushels, which, under the terms of the Act as amended on May 26, 1941, constituted farm [p115] marketing excess, subject to a penalty of 49 cents a bushel, or $117.11 in all. The appellee has not paid the penalty, and he has not postponed or avoided it by storing the excess under regulations of the Secretary of Agriculture, or by delivering it up to the Secretary. The Committee, therefore, refused him a marketing card, which was, under the terms of Regulations promulgated by the Secretary, necessary to protect a buyer from liability to the penalty and upon its protecting lien. [n4]

    The general scheme of the Agricultural Adjustment Act of 1938 as related to wheat is to control the volume moving in interstate and foreign commerce in order to avoid surpluses and shortages and the consequent abnormally low or high wheat prices and obstructions to commerce. [n5] Within prescribed limits and by prescribed standards, the Secretary of Agriculture is directed to ascertain and proclaim each year a national acreage allotment for the next crop of wheat, which is then apportioned to the states and their counties, and is eventually broken up into allotments for individual farms. [n6] Loans and payments to wheat farmers are authorized in stated circumstances. [n7] …”
    http://www.law.cornell.edu/supct/html/historics/USSC_CR_0317_0111_ZO.html

    The Filburn Foundation

    “Educating the public about an important Supreme Court case – Wickard v. Filburn 317 U.S. 111 (1942) which greatly increased the power of the federal government to regulate economic activity…”
    http://thefilburnfoundation.com/

    Issues
    Can Congress regulate the production of wheat intended for personal use and not placed in interstate commerce?
    Can Congress regulate trivial local, intrastate activities that have an aggregate effect on interstate commerce via the commerce power?

    Holding and Rule (Jackson)
    Yes. Congress can regulate the production of wheat intended for personal use and not placed in interstate commerce.
    Yes. Congress can regulate trivial local, intrastate activities that have an aggregate effect on interstate commerce via the commerce power, even if the effect is indirect.

    http://www.lawnix.com/cases/wickard-filburn.html
    http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=Wickard+v.+Filburn

  4. Mike in Nola says:

    For the geek crowd, here’s some guys making fun of Google’s April Fool video by implementing it usign the Kinect, which as MSFT keeps repeating for the benefit of Apple, is the fastest selling consumer electronics product of all time.

    http://www.extremetech.com/article2/0,2845,2383297,00.asp

    I find it really weird. that as clunky as the inteface looks to us normal people, it’s really taken off in the geek world. MSFT, playing it smart for a change, is encouraging development software for the interface even on non-Windows systems and is releasing a free developers kit.

    I imagine that we may see a non-geeky successor to the kinect supported in Windows 8.

  5. druce says:

    IMF Forecast – China GDP set to surpass USA on PPP basis in 5 years –

    http://www.marketwatch.com/story/imf-bombshell-age-of-america-about-to-end-2011-04-25

  6. Rightline says:

    USDA: Food Costs May Rise 4 Percent on Higher Meat Expenses

    http://www.moneynews.com/Headline/USDA-Food-Costs-Rise/2011/04/25/id/394008

  7. Mike in Nola says:

    Looks like the State Dept. is going to givee themselves a way to deny a passport to anyone they don’t like. For any reason. A good way to keep people in line.

    http://www.consumertraveler.com/today/state-dept-wants-to-make-it-harder-to-get-a-passport/

    Do you know where your mother lived the year before you were born?

  8. smedleyb says:

    Paul’s Boutique = top 10 rap album of all time.

  9. Morgan Stanley fund fails to repay debt on Tokyo property

    TOKYO (Reuters) – A Morgan Stanley property fund failed to make $3.3 billion in debt payments by a deadline on Friday, handing over the keys to a central Tokyo office building to Blackstone (BX.N) and other investors, the largest repayment failure of its kind in Japan.

    http://news.yahoo.com/s/nm/20110415/bs_nm/us_morgan_stanley_real_estate_1

    Study suggests retailers successfully restricting sales of M-rated games

    It turns out American video game retailers are doing a pretty good job of not selling mature titles to kids. The results of an undercover shopping survey conducted by the United States Federal Trade Commission FTC that examines whether retailers enforce Entertainment Software Ratings Board ESRB age ratings suggest that game sellers rarely sell adult-oriented games to kids. Only 13 per cent of underage secret shoppers were successful in their bid to buy M-rated games. This is an improvement of seven per cent over the survey’s results in 2009, and the sixth consecutive time that game retailers have improved in the FTC s semi-annual study.

    http://www.theglobeandmail.com/news/technology/video-games/controller-freak/study-suggests-retailers-successfully-restricting-sales-of-m-rated-games/article1995017/

  10. gd says:

    The article about luck described a claim by Steve Jobs that if he hadn’t taken a calligraphy course after dropping out of college, computers wouldn’t have proportional fonts 30 years later. Now that’s being full of yourself. No mention of his luck in copying the Xerox Alto.

  11. gms777 says:

    First a movie titled “Black Swan.”

    Now a movie titled “The Debt”

    http://trailers.apple.com/trailers/focus_features/thedebt/

    Not to mention “Hoodwinked”

  12. VennData says:

    “…when the question was asked: “Do you support or oppose cut[ting] Medicare and Medicaid?,” 70 percent of Tea Partiers opposed any such cutting. And when it came to reducing military spending, 66 percent of Tea Partiers were opposed as well. ..”

    http://www.thenewamerican.com/usnews/politics/7248-tea-party-about-to-give-obama-a-second-term-

    I guess math isn’t a prerequisite for the Tea Party. That homeschooling is finally paying off for the GOP.