10 Tuesday PM Reads
Afternoon train reading:
• Are You A Born Investor? (Psy-Fi Tech)
• The Man Who Busted the ‘Banksters’ (Smithsonian Mag)
• Marshall Auerback: Interview (Resource Clips)
• Counting the Underwater Homeowners (Economix)
• In the Name of Corporate Profitability, 1781 and Today (The Reformed Broker) see also Are Corporate Balance Sheets Really the Strongest in History? (Hussman Funds)
• Echoes of history: The German fear of inflation rears its ugly head again (Periscope Post)
• Network Effects: How Google & Apple Dominate Mobile (Read Write Web)
• How Brooklyn Got Its Groove Back (City Journal)
• Bartlett: Gingrich and the Destruction of Congressional Expertise (Economix)
• No art? No social change. No innovation economy. (Metropolitan Group)
What are you reading?
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Source: Read Write Web
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November 29th, 2011 at 5:14 pm
Facebook Settles With FTC, Gets Stern Privacy Warning
http://idealab.talkingpointsmemo.com/2011/11/facebook-settles-with-ftc-gets-stern-privacy-warning.php?ref=fpnewsfeed
November 29th, 2011 at 6:11 pm
Lots of very interesting, mostly filmic, people list their Top 10 Films from the Criterion Collection
http://www.criterion.com/explore/top10
November 29th, 2011 at 8:04 pm
Jan. 16th event should be interesting:
http://www.tomdispatch.com/post/175473/tomgram%3A_steve_fraser%2C_%22de-fault_is_ours%22/#more
Take Our Children, Please!
A Modest Proposal for Occupy Wall Street
By Steve Fraser
In 1729, when Ireland had fallen into a state of utter destitution at the hands of its British landlords, Jonathan Swift published a famous essay, “A Modest Proposal for Preventing the Children of Poor People in Ireland from Being a Burden to Their Parents or Country, and for Making Them Beneficial to the Public.”
His idea was simple: the starving Irish should sell their own children to the rich as food.
His inspiration, as it happened, came from across the Atlantic. As he explained, “I have been assured by a very knowing American of my acquaintance in London, that a young, healthy child well nourished is at a year old a most delicious, nourishing, and wholesome food, whether stewed, roasted, baked, or boiled; and I make no doubt that it will equally serve in a fricassee, or a ragout.”
Inspired in turn by Swift, I want to suggest that we put in motion a similar undertaking: on January 16th, Martin Luther King Day, citizens from around the country should gather at the New York Stock Exchange on Wall Street. Let’s call this macabre gathering — with luck and even worse times, it should be mammoth — “We Surrender” or “Restore Debtor’s Prisons” or “De-Fault Is Ours” or “Collateralize Us.” And plan on a mirthful day of mourning.
The basic idea is that we offer ourselves up, 99% of us anyway, on the altar of high finance as a sacrifice to the bond markets. It was Karl Marx who first observed that high finance is “the Vatican of capitalism.” How right he turned out to be — right with a vengeance!
read the rest!
November 29th, 2011 at 8:14 pm
That chart contradicts this:
http://goo.gl/JnYhG
which says Samsung has a much larger share of the smartphone market than Apple.
November 29th, 2011 at 8:17 pm
I am reading:
Medal of Honor recipient sues former employer
http://www.reuters.com/article/2011/11/29/us-medalofhonor-lawsuit-idUSTRE7AS2S420111129
“The lawsuit said that earlier this year, Meyer sent an e-mail to BAE Systems management objecting to a plan to sell advanced optic scopes to Pakistan. After the e-mail, it said, BAE manager Bobby McCreight “began berating and belittling Sergeant Meyer for ridiculous things.”
and then-
“Meyer, who was part of a U.S. team training Afghan security forces, saved 36 of his comrades’ lives during a 2009 ambush in Kunar province, in eastern Afghanistan.”
Read that again- ‘saved 36 of his comrades’ lives’. Hey, Bobby ‘CandyAss’ McCreight. What did you do to earn your medal of honor? What? You don’t have one. Then shut yer POS mouth ya g-dd-mn sh*tkicker.
November 29th, 2011 at 8:21 pm
a simple way to prosecute banksters? but it won’t happen. as it costs to much
http://www.nakedcapitalism.com/2011/11/dylan-ratigan-to-eric-holder-%E2%80%93-a-simple-way-to-prosecute-bank-crimes.html
November 29th, 2011 at 8:26 pm
A nice article from Periscope.
This is one from Spiegel, circa 2010, maybe explaining why the Bundesbank didn’t want to attack the Franc:
Was the Deutsche Mark Sacrificed for Reunification?
http://www.spiegel.de/international/germany/0,1518,719940,00.html
November 29th, 2011 at 9:43 pm
delusions…part1?
http://www.nakedcapitalism.com/2011/11/journey-into-a-libertarian-future-part-i-%E2%80%93the-vision.html
November 30th, 2011 at 7:44 am
WSJ Article gives new hope to the Perry Campaign:
http://online.wsj.com/article/SB10001424052970203935604577066293669642830.html
November 30th, 2011 at 8:24 am
An article about the TARGET system of the euro zone, it explains why since 2007 this TARGET system is accelerating the demise of the euro zone.
http://www.contrepoints.org/2011/11/29/58037-euro-et-%C2%AB-balances-target-%C2%BB-pourquoi-les-jeux-sont-faits
This article has two references:
« Target loans, current account balances and capital flows : The ECB’s rescue facility ». CES IFO Working paper n°3500, 24 June 2011 »
« Eurosystem debts, Greece, and the rôle of banknotes », by John Whittaker, Monetary Research, Lancaster University Management School, 14 November 2011 .
“TARGET stands for Trans-European Automated Real-time Gross settlement Express Transfer system.
TARGET is mainly used for individual payments between banks, but it is also used for urgent transfers between companies, or even individuals, at the discretion of the banks involved. ”
http://en.wikipedia.org/wiki/TARGET
From the same Contrepoints article:
”urgent tranfers”: happening a lot more since 2007, increasing the risk for Germany (360 billions euros owned to Germany in june 2011, 450 billions euros in october 2011)…
Interesting comparison between the euro zone and the U.S.:
in the U.S., the 12 regional FEDs have to compensate each year the cumulative balances between themselves, using bonds, treasuries, gold papers… nothing similar in the euro zone according to the article…
November 30th, 2011 at 9:39 am
glad Pecora gets a mention. smithsonian does little justice to the great Hellhound of Wall St story,
other than noting he coined banksters.
how to do CEO testimony right,
laying bare stuff with amazing parallels to now.
get this. after the hearings Hoover, thats HOOVER, said if even half these findings are true these are the most corrupt betrayers of public trust ever.. or something like that. and his last days justice dept started some prosecutions.
the right is now trying to rehab Hoover, who was pretty much feckless till then. or demanded D buyin to his rescue plan before election, to which roosevelt said no.
if you get that BS remind them of Hoovers last-days conversion
the hoover quotes are on p 190-191. if amazon is to be believed you can buy it for $2.67. merry Christmas
November 30th, 2011 at 10:39 am
the pressure must be great to pull facts figures out of the mind .. but on Perry renewed hopes / did you see him place the USAs voting age at 21 (the drinking age)