My eclectic early morning reads for today:

• Congress ends corn ethanol subsidy (The Detroit News) see also 30-year-old corn ethanol subsidy nixed by Washington (Autoblog)
• A Grim Forecast for Corporate Earnings (Barron’s)
Michael Lewis: Princeton Brews Trouble for Us 1 Percenters  (SF Gate)
• Sears Holdings liquidation sale (Bronte Capital)
Great Moments In Punditry: Art Laffer Edition (Forbes)
• R&D: Will China Outsmart the U.S.? (Sunday NYT Magazine)
• How Cash Has Corrupted Congress (Daily Beast)
• Leonardo’s Optics in Action, in Paint (WSJ)
• Fascinating discussion from former Ron Paul staffer (Rightwings News)
Perfect for the holidays! Where The Fuck Should I Go For Drinks? (WTFSIGFD)

What TF are you reading?


click for larger graphic

Source: (WSJ)

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.

18 Responses to “10 Thursday AM Reads”

  1. Mark Down says:

    Ma, what’s a recession ? Wednesday, they closed Disney and 2 other parks for overcrowding!

  2. Greg0658 says:

    fyi – Margin Call was shot in 17 days of 2008 in NYC almost all at 1 Penn Plz or 250 W33rd St on the 47th floor .. cost about 3.5M and is $2M in the black (roughly) .. BloombergMedia filled the computer screens up all prettylike

  3. drtomaso says:

    That Ron Paul piece is kinda frightening. He may or may not be an antisemite, but some of the commentors defending him on that site clearly are.

  4. Greg0658 says:

    I did that M.Call post from memory (ie the writer/directors dvd overtalk) .. and have since done some surfwork .. try the 42nd floor and it was set in 2008 but shot in summer 2010 .. I was thinking thats a “long time in the can”

    see for more info:

    ps – just double checked the $#s and its in there

  5. [...] listed these two articles in the morning reads, but I am so delighted over this that I had to make sure you did not miss this: Congress has [...]

  6. Breezy says:

    RE: How Cash Has Corrupted Congress

    This article missed the very important Pay To Play requirements for members of Congress. Positions in Congressional leadership must, in essence, be purchased at very high cost. The significance of this is, representatives who have safe districts are not free to vote their own conscience.
    For example, my Congressperson, lives in a “safe” district where she could raise all she needed for reelection in small donations from people living in her district. But, she is forced to pay a large amount (in the 2008 election cycle the cost was $800,000) to hold her chief deputy whip position. Thus she is forced to go to the big money donors.
    For a full explanation see:

  7. acme says:

    The Ron Paul article was terrifying, but also hilarious in its own way. “He’s not a racist / anti-semite / homophobe, HE’S JUST OLD! Most old people are scared of gay people and won’t use their bathrooms!”

  8. Jim67545 says:

    I guess you subscribe to Barons and WSJ. For those of us who do not, your referencing subscriber only content is not useful.


    BR: Is it your suggestion that I DON’T reference subscriber only content (WSJ, FT, Barron’s) because you don’t subscribe?

  9. Bob is still unemployed   says:

    I suspect if the actual number of tickets sold, as opposed to revenue, were charted; we would have seen a larger shrink factor over the years.

  10. willid3 says:

    amnesia part of the cause of great recession? or looking at the past with rose colored glasses also part of it?

  11. tradeking13 says:

    Occupy Wall Street: The Lego Set (YouTube)

  12. MorticiaA says:

    Just started reading The Little Book of Sideways Markets. Good book and quick holiday read.

  13. LLouis says:

    A look into a specific case of child-slave laboring in Burkina Faso (western Africa),
    an article by Cam Simpson for Bloomberg (

    Clarisse Kambire, a smart 13 year old girl, who learned to speak french by herself in the streets,
    doesn’t go to school anymore, because she is an “enfant confié” (foster child), her parents abandoned her, and an aunt gave her to her older cousin (Victorien Kamboule, 30 year old).

    Most of the farmers of Burkina Faso don’t have farm animals, instead they use children. And to respect the protocols of fair trade, the farmers are told its ok to use children as long as they’re not their own children and aged over 6 years old.

    “…all of Burkina Faso’s organic crop from last season was bought by Victoria’s Secret (LTD)”
    Some lingerie sold by Victoria’s Secret used to come with booklets about fair trade: ” “Good for women,” read a booklet accompanying a white thong covered with blue and lavender daisies. “Good for the children who depend on them.” ”
    But not anymore: ” Today, such Burkinabe fiber is blended into lingerie at a much-reduced level, allowing the company to spread it across most of its cotton underwear lines ”

    ” Fairtrade International started a review in Burkina Faso after Bloomberg News raised questions … adding it would begin a training program for farmers. … the UNPCB (National Federation of Burkina Cotton Producers) never gave Fairtrade a copy of the 2008 study it co- sponsored on child labor… ”

    ” An executive for Victoria’s Secret’s parent company says the amount of cotton it buys from Burkina Faso is minimal, but it takes the child-labor allegations seriously… “Our standards specifically prohibit child labor,” she said (Tammy Roberts Myers) “We are vigorously engaging with stakeholders to fully investigate this matter.” ”

    So while Victoria’s Secret top models enjoys earnings of tens of millions of dollars each year, and ” … supermodel “Angels” helped it set record sales and profit in the third quarter of 2011 “,

    Clarisse is earning an absolute zero money, she is whipped each day by Victorien (who was also an enfant confié) to plow the fields (area of several football fields) in scorching heat, she doesn’t eat each day, doesn’t sleep well because of the heat and nightmares… her future doesn’t look bright at all compared to the future of Victoria’s Secret clothings, a cash cow for the parent company Limited Brands.

  14. Jim67545 says:

    BR: You may, of course, do as you like. I was merely observing that without subscriptions the content is not available. You could, I suppose, paraphrase the article or quote the salient point(s) but again, that is up to you.

  15. formerlawyer says:

    @Bob is still unemployed

    Does “attendance” not equal tickets sold?