Here is what I will be perusing via Instapaper on my ride home:

• Fed Pledges Low Rates Through 2013 (WSJ)
• “All that had changed was people’s opinion of the place” (World Beta)
• Old Money Rules That No Longer Apply (and Two That Still Do) (Life Hacker)
• Why S.&P.’s Ratings Are Substandard and Porous (NYT)
• Long-Term Investors Can Relax (a Little)  (Five Thirty Eight)
• NHS among developed world’s most efficient health systems, says study (Guardian)
• How Obama Disappointed the World (Spiegel Online)
• What al-Qaeda Has to Do With Debt Downgrade (The Street)
• Beyond Angry Birds (Grantland)
• Teats Out: An Oral History of the Rise and Fall (and Rise) of “The Dana Carvey Show” (GQ)

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.

30 Responses to “Tuesday PM Rally Reads”

  1. Jojo says:

    In conjunction with the “How Obama Disappointed the World” article, we’ve also got:

    August 6, 2011
    What Happened to Obama?

    I wish I could take my vote for Obama back. He certainly won’t get my vote again in 2012.

  2. Bob A says:

    good show but dylan ratigan is SOOOO annoying

  3. Mike in Nola says:

    Re: What happened to Obama?

    Yves Smith had a link to an article debunking the “who coulda knowed” aspect of it. I have not been at all surprised. Anyone who could attract all the big money donors away from Hillary early in the campaign like he did had obviously sold himself. He’s just a money hungry white policitian in a black skin.

  4. Sechel says:

    zero interest rates is so unhealthy.
    1) hurts people on fixed incomes and will curtail their spending
    2) causes institutional and individual to take excessive credit risk
    3)increases the present value of pension liabilities.

    Einstein defined insanity as repeating an action and expecting a different result. ZIRP policy has not been working, why continue? We need Thomas Hoenig back to run the Fed.

  5. willid3 says:

    how S&P and Moodys are different. and why they do it differently

    might also make you wonder why you would want just one of them to rate what you buy?

  6. …Yellow Jug Old Drugs® program expanding beyond Michigan to serve other Great Lakes states

    Coordinated by Great Lakes Clean Water Organization (GLCW), a Michigan based Non-Profit organization, the Yellow Jug Old Drugs® program began in May 2009 in Northeast Michigan. Currently there are 215 participating pharmacies all across Michigan-more being added monthly. The program has been highly successful and is now expanding to provide the service to other Great Lakes states.

    In the past when an individual wanted to dispose of unused/ unwanted/expired drugs the only option available in most communities was to flush these substances down the drain or send to a landfill. In the Great Lakes and across the country this has led to an emerging problem of trace amounts of chemicals showing up in our water. The Yellow Jug Old Drugs® program is providing a positive solution to help address the issue. Individuals can bring unused/unwanted/expired drugs to participating pharmacies. Collected drugs are then taken to a Waste to Energy facility for safe and proper disposal thus helping to keep our water clean.

    “We are getting the word out now to pharmacies in Wisconsin, Minnesota, Illinois, Ohio, Indiana, Pennsylvania and New York . Interested pharmacists, pharmacies and pharmacy associations should contact us to express their interest.” States Chris Angel, President of GLCW Volunteer Board. Angel adds, “We will then use that information to help us determine the areas we will initially concentrate. We plan to begin the program in other states in 2012. Our goal is to have the Yellow Jug Old Drugs program available in all of the Great Lakes states within 3 years.”

    Diane O’Connor, GLCW Treasurer Volunteer Board of Directors states, “We are also interested in hearing from potential funding sources to help support the program in Michigan and other states.” Most of the cost is supported by particpating local community-minded pharmacies. Program support in Michigan has also been provided by United Water, Consumers Energy Foundation, Detroit Renewable Power, MSP SCENT, Community Foundation of Northeast Michigan, Northern Michigan Substance Abuse Services, Barry County Substance Abuse Task Force, Missaukee County Soil Conservation District and Ten Sixteen Recovery Network. Companies and Foundations interested in keeping our Great Lakes water clean are encouraged to contact GLCW for sponsorship opportunities to help support the Yellow Jug Old Drugs program…

    note: make sure one believes that this is an Issue, only facing Michigan..

  7. “…it has been demonstrated that wildlife in our major water ways have already shown biological responses that can be directly attributed to the increase of hormones or hormone emulators in the water.9 For example, male fish are becoming feminized. While the infrastructure through which our drinking water passes may dilute the hormones that wildlife are exposed to before entry into our drinking water system, dilution does not constitute elimination. Once in our drinking water, it is possible that one of the side effects of this increased hormone level is observed in the increasingly younger age at which girls are entering puberty. The impact on human males has yet be determined, but preliminary studies seem to indicate10 that there are more boys born with defects. “For example, up to 7 percent of boys are now born with undescended testicles, although this often self-corrects over time. And up to 1 percent of boys in the United States are now born with hypospadias, in which the urethra exits the penis improperly, such as at the base rather than the tip”, Kristoff reports based on information from The Journal of Pediatric Urology. 11 In addition there is an increasing amount of infertility among couples looking to have children that may be traceable to altered hormone levels. According to one report, infertility of married women between the ages of 20 and 24 has increased 177% from1965 to 1982.12 Other longer term impacts to humans may not have yet even begun to appear. Correlation of the hormones found with problems found in the related population is a clearly identified problem to which mathematical tools can be applied…”

    The infertility industry in the United States has grown to a multi-billion dollar business. Its main commodity is human eggs.

    …So far Sarah and Ben have spent more than $50,000 on infertility treatment.

    Because patients are willing to invest that kind of money in treatments that didn’t exist a few years ago – and because about ten percent of American couples have trouble conceiving – infertility is an estimated $2 billion industry annually in the United States. Pharmaceutical companies are investing millions in fertility-related drugs. Clinic management corporations traded on Wall Street are in the business of making a profit on infertility treatment for investors. Brokers are charging fees to help couples find egg donors and surrogate mothers. And the number of U.S. clinics offering IVF has been racing upward since the mid-1980s, to about 330 today.

    Infertility programs compete fiercely for patients,advertising high pregnancy rates or offering patients financial incentives…

  8. Mike in Nola says:

    But all the bankers are still free:

  9. RW says:

    The U.S. Content of “Made in China”

    Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures in 2010, of which less than half reflected the actual costs of Chinese imports. The rest went to U.S. businesses and workers transporting, selling, and marketing goods carrying the “Made in China” label. Although the fraction is higher when the imported content of goods made in the United States is considered, Chinese imports still make up only a small share of total U.S. consumer spending. This suggests that Chinese inflation will have little direct effect on U.S. consumer prices.

    [ht Matt Yglesias]

  10. philipat says:

    “THe Fed pledges low rates through 2013″

    Wow, what a surprise that the economy remains so weak that ZIRP has to stay in place. I must go out and buy stocks immediately.

  11. formerlawyer says:

    My doctor gets all kinds of “sample” medications, she collects them from other doctors and when she travels to other countries especially in the Third World she will visit hospitals and donate anything they want that she has. A small contribution but rewarding.

  12. Bill Wilson says:

    Anyone who liked the World Beta story might also like this Freakonomics Radio story.


    BR We referenced that here sometime ago

    Freakonomics: The Folly of Prediction

  13. Sidfinkel says:

    This post here on Learning How to Be a Good Beggar in America, getting the skill set to survive the next 5 to 10 years. It is both funny and scary and the scary part is that it could be more truth than satire.

    I particularly like the point about having a dog as an accessory and not a cat

    “Do not try to use a cat. The cat will just run away, or refuse to be petted or hiss at little children. Cats are not good beggars, they are too haughty. No one likes a cat that begs.”

  14. M says:


    S&P balks at reporting errors (be neat if SEC actually did something about it of course):

  15. Greg0658 says:

    RW I read your report on Made in USA/China .. umm hard to believe the #s are that small .. the trade deficit must be all oil .. our graduating kids just need to get a patent & stock on a product Made in China I guess

  16. Greg0658 says:

    BR – don’t know if it went national (because commercials can trigger very local nowdays) good thing Bayer asprin did a spot as a reminder .. a couple of your hosts today should keep a bottle in their pocket

  17. call me ahab says:


    that’s just a start buddy . . .low rates as far as your imagination can take them,


    what? people here don’t deserve samples? Just third world countries?

    Oh, I get it . . .It makes her feel good! . . .Just like Madonna adopting African’s, as if there are no American’s wishful for adoption . . and begging for a home

  18. RW says:

    Wisconsin State Senate Election , Round I: Republican Recalls

    If there is an anti-Republican/2010 wave building it should be visible here: Net loss of three Republican seats (after Round II) means Democrats take back control but there are ways to spin that; a landslide one way or the other OTOH …

    @Greg0658, the bulk of personal consumption is local services and businesses but the relatively tiny % of Chinese product, whether assembled here in the US or shipped in from elsewhere, was something of a surprise to me also.

  19. re: above Posts @ 18:49 y 19:12

    “What are you reading?”

    was reading a listserv ..

    Send Pharmwaste mailing list submissions to

    To subscribe or unsubscribe via the World Wide Web, visit
    or, via email, send a message with subject or body ‘help’ to

  20. formerlawyer says:

    @call me ahab Says:

    You really are a prick aren’t you.

  21. Chief Tomahawk says:


    Tomorrow’s DOW close is either +1 or -1, right?

  22. formerlawyer says:

    @call me ahab Says:

    I am sorry, my comment was uncalled for. I will take a break on this forum.

  23. mathman says:

    Dylan Ratigan Rant Over Political and Economic System Designed to “Extract America”

    video of Ratigan going off and his own and panel ideas for how to turn things around (that are political suicide and so won’t happen).

    Tuesday, August 9, 2011
    As London Burns, The Thought Police Are Running The News Desks

    and, not that anyone cares, but this will have an impact down the road:

    Since the next presidential election will feature all Republicans (including Obama, who’s as Republican as can be), reading about some of them and their environmental issues:

    Michele Bachmann Pledges to Have the EPA’s “Doors Locked and Lights Turned Off”

    After Praying for Rain, Texas Governor Rick Perry Prays for the EPA to Stop Environmental Regulations

    and more to the point of this blog:
    Did We See the Plunge Protection Team Last Night?

  24. rktbrkr says:

    Re:What Al Kaeda has to do with the debt downgrade. In a word – everything.

    How about a constitutional amendment that requires all military action that is conducted without a declaration of war to be funded on a pay as you go basis by an an income tax surcharge? That would immediately end our pattern of endless senseless wars.

  25. call me ahab says:

    “You really are a prick aren’t you.”

    thanks for noticing:-)!

  26. mathman says:

    so much for “clean tech” and “going solar”:

    The fix is in before your decision is made . . .

  27. Silversem says:

    I wonder when goldstocks are going to pick up pase like gold is doing already. Or would we get a meltdown like in 2008?

  28. Greg0658 says:

    sooooo .. formerlawyer @ call me ahab
    (I should too – disapear)
    pockets aren’t deep enough, are they, never are .. but try to save the something somewhere

    how many bytes have I forced the www to save so I can chat @ ya .. driving up the cost of everything because its the system ? I