Here is some midweek reading:
• What’s Wrong With America’s Job Engine? (WSJ)
• The Virtues of Free Markets? Not what you think (Freakonomics) see also S.E.C. Removes Credit Ratings From Regulations (Deal Book)
• Three signs that investors are getting nervous about a possible U.S. default (Washington Post) see also Companies Bracing for U.S. Default (WSJ)
• Downgrade Jitters (Aleph Blog)
• Lessons From the Malaise (NYT)
• Civil War: GOP Coalition Splinters Into Open Conflict Over Debt Ceiling (Talking Points Memo) see also Bernanke May Need to Stay ‘Above Politics’ in Standoff Over Debt Ceiling (Bloomberg)
• Is America Doomed? (BBC) (Short answer: Probably not)
• The return of a zero-sum world (Salon) see also Kipling’s game theory lessons for Greece (FT)
• WTF? Soldiers battle car dealers over inflated prices, loan terms (I Watch)
• Scientists Discover Tipping Point for the Spread of Ideas (Science Blog)
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.
The ‘rogue elephant’ strategy – http://www.nytimes.com/2011/07/27/opinion/27Barash.html?_r=1
In the short run, being the cool, rational, self-controlled adult is not a good negotiating strategy. But in the long run, ‘tit-for-tat’ is an effective prisoner’s dilemma strategy -
http://www.wired.com/culture/lifestyle/news/2004/10/65317
hm. wall street and banks only really interested in IRAs and other investments for individuals only if they can abuse them by over charging fees etc. http://www.nakedcapitalism.com/2011/07/quelle-surprise-banks-dont-want-to-be-in-ira-business-if-they-cant-treat-customers-as-stuffees.html
makes one wonder why any individual wants to be an investor. and whether the funds etc aren’t taking a lot of the top, leaving little profit for the investor
Also… statistically speaking, Boehner was wrong that the bigger the government, the smaller the people.
Among nations, average physical stature is positively correlated with higher tax rates –
http://www.tnr.com/blog/jonathan-cohn/92627/boehner-smaller-people-bigger-government-netherlands
Welcome to the anthropocene! (radioactive frankenfish edition, ht naked capitalism)
http://www.vancouversun.com/technology/Male+salmon+breed+with+wild+species+researchers+find/5103782/story.html
Hope they taste as good as the original — and neutralize radiation!
http://georgewashington2.blogspot.com/2011/06/radioactive-fish.html
O’s next move? http://baselinescenario.com/2011/07/26/two-can-play/
probably not
“What’s Wong with America’s Job Engine”
Always interesting to see my brother-in-law quoted in an article. Gave me a smile this AM. Thanks.
CBO’s 2011 Long-Term Budget Outlook*
Shorter version: If Congress does absolutely nothing on the fiscal front for the next couple decades the budget would be balanced by 2015 and continue in balance until 2035 (end of projection).
*Testimony Before the House Budget Committee, June 23, 2011
http://www.economicpopulist.org/content/tradable-jobs
Of the 27.3 million jobs added from this time period[1990-2008], 97.7% of them were non-tradable. What do the authors mean by tradable jobs? Jobs that can be offshore outsourced.
Greedy airlines. Have they no shame? – apparently not.
http://www.cnn.com/2011/TRAVEL/07/26/congress.airlines/index.html?hpt=hp_t2
House and Senate phone lines jammed after Obama’s speech…
http://www.cbsnews.com/8301-503544_162-20083544-503544.html
…the GOP has miscalculated again.
RW Says:
CBO’s 2011 Long-Term Budget Outlook*
Shorter version: If Congress does absolutely nothing on the fiscal front for the next couple decades the budget would be balanced by 2015 and continue in balance until 2035 (end of projection).
PS – If the Bush 2001,2003 tax cuts hadn’t been extended we wouldn’t be in this crisis. Bush’s ill-advised tax cuts for the wealthy are like herpes – the gift that keeps on giving. The started us on this debt slide with Afgan & Iraq waste providing the grease. The need to be eliminated as part of the new found Repub budget balancing fervor! Fie on Obama for rolling on these tax cuts.
“What’s Wong with America’s Job Engine?”
Well you see, it’s gone back to being a steam engine. They’re stoking the furnace with the working stiffs to pull around the aristocrats eating foi gras and drinking champagne in the dining car while hurtling toward a cliff with no bridge. What happens if they get to that cliff or burn up all the stiffs first?