Some morning reads to start your day:

• The Volcker Rule and ‘Flipping the Presumption’ (Economics of Contempt)
• Fisher: Investors Should Prepare for Less Easing (Bloomberg)
• Buffett Vs. Gold: Who Do You Bet On? (WSJ)
• Stress tests may shed light on Wall Street’s ‘mark-to-make-believe’ accounting (Fortune’s Term Sheet)
• Robert Shiller Bloomberg Two-fer:
…..-Walt Whitman, First Artist of Finance (Part 1)
…..-Finance Isn’t as Amoral as It Seems (Part 2)
• Sears Survival Seen in Spinoff Offsetting Declining Cash: Retail (Bloomberg)
• Brain Scan: Jeff Bezos takes the long view (Economist)
• Apple’s iPad price hits a sweet spot between popularity and profits (Washington Post) see also iPad 3 Predictions: Wired Handicaps Apple’s Grand Hardware Unveiling ( Gadget Lab)
• People Aren’t Smart Enough for Democracy to Flourish, Scientists Say (Yahoo! News)
• How Ricky Gervais Totally Lost It (Men’s Health)

What are you reading?


Hear That? It’s Quiet…Too Quiet

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.

20 Responses to “10 Tuesday AM Reads”

  1. • People Aren’t Smart Enough for Democracy to Flourish, Scientists Say (Yahoo! News)

    Agitprop for..

    The End of the Free Market?
    By Ian Bremmer
    May/June 2009
    Article Summary and Author Biography
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    Author Interview
    Q&A With Ian Bremmer on State Capitalism
    Ian Bremmer

    This week, Ian Bremmer answers questions submitted by readers about the rise of state capitalism and the future of the free market.

    Click here to listen to a podcast of this article.

    Across the United States, Europe, and much of the rest of the developed world, the recent wave of state interventionism is meant to lessen the pain of the current global recession and restore ailing economies to health. For the most part, the governments of developed countries do not intend to manage these economies indefinitely. However, an opposing intention lies behind similar interventions in the developing world: there the state’s heavy hand in the economy is signaling a strategic rejection of free-market doctrine.

    “Since its founding in 1922, Foreign Affairs has been the leading forum for serious discussion of American foreign policy and global affairs. It is published by the Council on Foreign Relations (CFR), a non-profit and nonpartisan membership organization dedicated to improving the understanding of U.S. foreign policy and international affairs through the free exchange of ideas. (Learn more about CFR in this short video.) The magazine’s first issue led with a statement setting out an editorial vision that has remained constant ever since:

    “The articles in Foreign Affairs will deal with questions of international interest today. They will cover a broad range of subjects, not only political but historical and economic, and they will be accompanied, when it is desirable, by maps and diagrams. Technical articles will be left to more special magazines. There will be numerous foreign contributors, but the fact that the interest and profit of the American reader are a first consideration will not be forgotten.”…”

  2. Robespierre says:

    This guy is probably the first president on the developed world to tell world bankers to pound sand.

    Spain’s sovereign thunderclap and the end of Merkel’s Europe

    “As many readers will already have seen, Premier Mariano Rajoy has refused point blank to comply with the austerity demands of the European Commission and the European Council (hijacked by Merkozy).”

  3. MikeDonnelly says:

    “We are all professionals here” Tiny Lithuania revised their GDP from -0.9% q/q (-3.6% SAAR) and revised it to 1% q/q (4.1% SAAR)

    Although I guess Lith. is tiny enough if the Gov’t purchased a plane and forgot to account for it, it would make that large of a move.

  4. Petey Wheatstraw says:


    The dollar is smokin’ hot this morning, with PMs, foreign currencies, and stocks taking a major shellacking. I believe all of the sabre rattling over Iran is the catalyst for this move (a major distraction is needed to keep the criminality juggernaut going). Get ready for some real war. Buy the rumor, sell the news.

    We will soon learn the hard way, and as only fools do, what complete fools we’ve been.

  5. Doofus says:

    From the second Shiller essay:

    But the finance professions also attract people who are relatively invulnerable to cognitive dissonance: traders or investment managers who delight in the truth that is ultimately revealed in the market. Troubled by hypocrisy, they seek vindication not by sounding right but by being proved right.

    Sounds like Barry …

  6. lunartop says:

    How Ayn Rand became the new right’s version of Marx

  7. gordo365 says:

    The “Buffet vs. gold who do you BET ON” headline says it all. We are reading WSJ not to gain business and investment insight – but tips on betting…

  8. gordo365 says:

    Are Republicans pushing us into war just to make President Obama look bad?

    Seems really desperate and Treasonous.

  9. farmera1 says:

    They’re everywhere, they’re everywhere. Goldman fleecing Greece, who would have guessed it.

    Goldman’s Secret Greece Loan Reveals Sinners

    “Like the municipalities, Greece is just another example of a poorly governed client that got taken apart,” Satyajit Das, a risk consultant and author of “Extreme Money: Masters of the Universe and the Cult of Risk,” said in a phone interview. “These trades are structured not to be unwound, and Goldman is ruthless about ensuring that its interests aren’t compromised — it’s part of the DNA of that organization.”

  10. VennData says:

    Letterman Endorses Santorum

    …but did a Top Ten for Romney. “Top 10 Other Things Mitt Romney Likes About Michigan’s Trees.” (This based on a comment Romney made earlier about being back in his “home” state: “It’s great to be back in Michigan; the trees are the right height.”) Among the winning reasons: “They tend to lean any way the wind blows them — just like I do.”

  11. reedsch says:

    “Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were “the only liquid investment capital” available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result.”

  12. reedsch says:

    Forgive me BR if I missed this in an earlier post, but I though it was outstanding.

    Your Grandchildren Have No Value (And Other Deficiencies of Capitalism)
    Jeremy Grantham’s GMO quartery newsletter

  13. Jojo says:

    Wow this is some crazy stuff!
    Govt. agencies, colleges demand applicants’ Facebook passwords
    By Bob Sullivan

    If you think privacy settings on your Facebook and Twitter accounts guarantee future employers or schools can’t see your private posts, guess again.

    Employers and colleges find the treasure-trove of personal information hiding behind password-protected accounts and privacy walls just too tempting, and some are demanding full access from job applicants and student athletes.

    In Maryland, job seekers applying to the state’s Department of Corrections have been asked during interviews to log into their accounts and let an interviewer watch while the potential employee clicks through wall posts, friends, photos and anything else that might be found behind the privacy wall.

  14. willid3 says:

    jojo i saw the same story elsewhere. and that one it ncluded that busines is also doing this

  15. MorticiaA says:

    Stanford found guilty of 13 out of 14 charges.

  16. reedsch,

    from y-day’s PM Reads..seems to fit w/ yours..

    Holder: Assassinating Americans ‘Legal and Constitutional’
    Insists President’s Decision to Assassinate Is ‘Due Process’
    by Jason Ditz, March 05, 2012
    | Print This | Share This | Antiwar Forum

    Speaking today at Northwestern University, Attorney General Eric Holder insisted that the president has an absolute right under the context of the “war on terror” to order the assassination of American citizens overseas saying that the nature of a war against a “stateless enemy” meant that assassinations could happen anywhere.

    Insisting that such killings are “legal and constitutional,” Holder also said that President Obama’s decision to assassinate an American citizen in and of itself amounted to “due process,” and that courts are entirely unnecessary.

    Holder went on to spurn human rights groups for suggesting that assassinations were only acceptable in the case of “imminent threat,” saying that there is no requirement in the Constitution to wait until “some theoretical end-stage of planning” and that killings could happen before the “time, place and manner of an attack become clear.”…”


    ol’ “Bag” Holder, couldn’t ask for a better CV.. (Or, I suppose one could, but, nowadaZe..)
    You are the homegrown terrorist threat
    May 13, 2007 @ Michael Hampton → 92 Comments

    If you’re an American reading this, then under expansive definitions being used by the Federal Bureau of Investigation and several states in their counterterrorism training, you just might be a domestic terrorist.

    The FBI Joint Terrorism Task Force in Phoenix, Ariz., distributed a brochure (Images: 1, 2) to local law enforcement agencies a few years ago which defines terrorism as individuals or groups within the U.S. who engage in criminal activity to promote political or social changes. This is correct, as far as it goes, but the brochure then gives a listing of “suspicious” activities, telling law enforcement officers: “If you encounter any of the following, call the Joint Terrorism Task Force.”

    Some of the things for which you should be reported as a suspected terrorist include the usual things, like weapons of mass destruction, and hate groups such as the Ku Klux Klan and Neo-Nazis, but also includes people who “Make numerous references to US Constitution,” “Claim driving is a right, not a privilege” and “Attempt to ‘police the police.’”

    In addition, “People whose political motivation is usually Marxist/Leninist philosophy,” “‘defenders’ of the US Constitution against federal government and the UN,” computer hackers, and “Lone Individuals” should also be reported…”

    sometimes, “FBM” has to be an appropriate response, no?

  17. reedsch,

    whoops, wrong one..

    along with..

    • The War On Drugs Hurts Businesses and Investors (Forbes) see also Legalize Pot to Make Roads Safer (WSJ)

    VP Biden to Reject Calls From Latin America to End War on Drugs
    by John Glaser, March 03, 2012
    | Print This | Share This | Antiwar Forum

    Vice President Joe Biden will tour Latin America and meet with heads of state amid growing pressure from the region for a different approach to the failed war on drugs. Political leaders from Costa Rica, Guatemala, El Salvador, Colombia, Mexico, Argentina, Uruguay, Peru, Honduras and others have voiced support for abandoning the drug war pushed for so long by the United States and instead decriminalizing drug use.

    Throughout Latin America, the U.S.’s drug war has cost a trillion dollars, encouraged police state abuses, fueled violence with drug gangs, strengthened cartels, killed tens of thousands of people, and has not markedly dented drug production and trafficking.

    Still, the top Latin America official in the White House, Dan Restrepo, said Latin American leaders shouldn’t expect a shift in policy. ”The Obama administration has been quite clear in our opposition to decriminalization or legalization of illicit drugs,” he said.

    Read the whole report from the Associated Press.

  18. contrarian23 says:

    I take buffet over gold. Gold is going to crash.

  19. contrarian23 says:

    Buffet, not buffet.