Some afternoon reads for your reading pleasure:

• America is merely wounded, Europe risks death (Telegraph)
• ‘Embarrassed’ Corporate Leaders Quiet on Fight (Bloomberg) see also The fiscal isolationism of the United States (Aljazeera)
• China, the biggest holder of Treasury debt, is watching on helplessly as it gets taken to the financial cleaners. (The Diplomat)
• Lehman Case Hints at Need to Stiffen Audit Rules (NYT)
• The solution to credit rating cuts? (The Globe and Mail) see also Take It to the Limit (New Yorker)
• Florida AG Took $$ From Firms Under Investigation By AG Office (4closure Fraud)
• A Brief History of Apple Not Buying Things   (Technologizer)
• Steve Perlman’s Wireless Fix (Businessweek) see also Anyone Can Access Microsoft’s Massive Location Database and See Where Your Laptop and Smartphone Have Been (Gizmodo)
• GigaOM Euro 20: Super Stars (Gigaom)
• 5 Must-Read Books on Error & the Science of Being Wrong (Brain Pickings)

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.

19 Responses to “Monday PM reads”

  1. willid3 says:

    not sure we should be surprised that the Florida AG has , issues with investigating banks. after all this is the same state that allowed convicted bank robbers to be mortgage brokers. nothing can go wrong with that either can it?

  2. willid3 says:

    and one of the main drivers of our economy so far, might just be stalling out just in time for austerity to send it into a nose dive? http://www.businessweek.com/news/2011-08-01/u-s-economy-manufacturing-almost-stalls-as-orders-drop.html

  3. Raleighwood says:

    http://www.oftwominds.com/blogaug11/demise-of-consumer-8-11.html

    ~~~~~~~~~~~~~~~~~~~~~

    Consumption is our god, our faith and our religion. Like a cargo cult dependent on a magical connection to prosperity, we are terrified by the prospect that our religion is based on a false god–that is, that consumption and consumption alone leads to prosperity and happiness.

  4. farmera1 says:

    Tim Durham, The Madoff of the Midwest
    http://www.businessweek.com/magazine/tim-durham-the-madoff-of-the-midwest-07282011.html
    “The CEO of a leveraged buyout shop in Indianapolis, Durham claimed to have made millions. He had also developed a penchant for the young, fun, and nubile, partying in Los Angeles and Miami and on his yacht in the Caribbean. In L.A., he owned National Lampoon, or what was left of it, and had been going to parties at the Playboy Mansion.”

    Nice 30,000 sq ft homes, yachts, parties, pretty young girls, sounds like a sound place to invest your money.

    Cyber War (It’s Coming/It’s here)
    http://www.businessweek.com/mediacenter/qt/podcasts/cover_stories/110721_BCS.mp3

  5. VennData says:

    Skilled-Nursing Stocks Plunge on Medicare Rate Change

    http://online.wsj.com/article/SB10001424053111903520204576482161446251504.html

    The Tea Party gets another big, big win.

  6. VennData says:

    Interesting how the corporate leaders are so silent on this critical issue as noted in the Bloomberg piece.

    Typical of the sound bite of the last eighteen months that Obama needs more “business people” in his administration…

    http://fellowshipofminds.wordpress.com/2011/05/17/we-need-a-businessman-in-the-white-house/

    …why would he do that? So they could be silent on the debt and hand out Panama hats?

  7. willid3 says:

    not sure any one (at least no one i know of ) thinks consumption is a god. its just what drives a capitalistic society. and if one is in business or works for one, you tend to keep an eye on it, unless of course you are independently wealthy. and consumption can by consumers (the majority in the US), government , business (usually driven by the first 2), or exports (which can be consumers or government, or businesses) in a foreign country.
    now if we want to stop consumption in the US, just implement high sales taxes nation wide (say greater than 25%, and add on top of that a really high VAT (say greater than 25% or so). then you would see consumption tank. along with jobs and business failures.
    but these are the choices with capitalism

  8. VennData says:

    G.O.P. Hopefuls, Minus One, Line Up Against Budget Deal

    http://www.nytimes.com/2011/08/02/us/politics/02repubs.html

    Clowns.

  9. Greg0658 says:

    JerseyCynic I just found out Google/Twiiter Realtime is gone:
    “Twitter quietly shutdown its “firehose” of tweet data that was being piped to Google. Like a gas station no longer getting deliveries, Google in turn effectively had to hang a “Closed” sign on its Google Realtime Search service. What happened …..”
    http://searchengineland.com/google-realtime-search-the-aftermath-of-the-google-twitter-split-84794

    your ringofire had me looking for the realtime feed .. the big one on 3/11 – I had checked backwards to see if there was some advance warning (there were pre-shocks – but tremors are very common there)

  10. Greg0658 says:

    Raleighwood I enjoyed the readlink by CHSmith .. and I said this elsewhere “an interesting take on our worship of consumption ie: the name of the game”
    Abba – The Name Of The Game
    http://www.youtube.com/watch?v=iJ90ZqH0PWI&ob=av2e

  11. CTB says:

    “China, the biggest holder of Treasury debt” aka biggest currency manipulator. Time to start spending those dollars instead of hoarding them!

  12. Frwip says:

    Just a thought.

    Regarding the CRAs and their threat to downgrade US debt, I’m wondering if they are not trying to preempt legal action against them in some way, either as a form of blackmail to prevent prosecution (“or else, we trash your bonds”) or to set themselves up as the innocent victims of politically motivated retaliations…

  13. rktbrkr says:

    Bernanke’s war on savers has pushed SocSec into their first ever net outflow year (2011).It’s the exceptionally low return on investment in mandated special Treasuries (under 3%) that has caused SocSec “losses” not excessive payouts. The actuaries couldn’t have planned for helicopter Ben!

    http://www.ssa.gov/oact/progdata/intRates.html

  14. A says:

    Add this to the list of items that are more important than deficit ceilings: FRAUD

    http://www.nationalreview.com/articles/271006/entitlement-bandits-michael-f-cannon?page=1#

  15. JerseyCynic says:

    Raleighwood — Charles Hugh Smith is my main Man!

    willid3 — most people I know worship their “things” — as in ADDICTED . Remember that anti-drug PSA from the 80′s — always chasing rainbows — I do coke so I can work longer, so I can earn more, so I can do more coke,
    So I can work longer, so I can earn more ….
    round and round we go.

    I need to work longer, so I can earn more SO I CAN BUY MORE SHIT

    (more cheap shit from China, that will break in a weak,) do you know how many F-ING cordless telephones I have purchased over the past few years??? Luckily I took my grandmothers original ma bell phone when she passed away YEARS ago. I dug it out, plugged it in last year and enjoy talking on the phone again

    re earthly possessions:
    http://bible.cc/luke/16-9.htm

    Grego658 — Mother Nature (or HAARP!) is speaking very loudly these days

  16. VennData says:

    Swede Held for Building Nuclear Reactor in his Kitchen

    “…Police raided his apartment after he had contacted the Swedish Radiation Authority (Strålsäkerhetsmyndigheten) to inquire if it was legal to construct a nuclear reactor at home…”

    http://www.thelocal.se/35306/20110802/

    See? That’ll teach ya Bjorn.

    In American we wouldn’t even THINK about asking some meddling gov’t bureaucrat if we could do this or that. Neither the 900 MWe class CP0 I run from the Lazy Susan or the 1450 MWe class N4 I got down in the rumpus room have brought anyone, anything but joy.