My afternoon train reading:

Germany: The Accidental Empire (Project Syndicate)
• Bernanke Steps on Gold Bugs (Marketbeat)
• NYSE Blasts Nasdaq Over Facebook Compensation Plans (WSJ)
• How Consumer Loans Once Saved the Banking Industry (Bloomberg)
David Cay Johnston: The Fortunate 400 (Reuters)
• An end to ‘too big to fail’ (Washington Post) see also Will There Be a Meaningful Volcker Rule? (Economix)
• Some Final Thoughts on a Booming Industry (NYT)
• Of hermit crabs and home sales (BoingBoing)
• George W. Bush’s favorable rating lowest of any living president (Yahoo News)
• About your panel discussion… (The Reformed Broker)

What are you reading?

>

Europe’s Pension Crisis Yet to Come of Age

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 PM Reads”

  1. constantnormal says:

    The EU is such a mess … they’re just fooling themselves if they think there is any way out of this … just close it all down, default on everything, and a month later, start it all up again under a new name …

    … maybe “Crazy Eddie’s Economic Union and Sports Bar”.

  2. mathman says:

    hopefully i can sneak this one passed the moderators (via Suburban Guerilla):
    http://www.rawstory.com/rs/2012/06/06/environmental-collapse-now-a-serious-threat-scientists/

    ~~~

    BR: that was in an early draft but did not make the final cut.

  3. mathman says:

    okay, let’s go for two!
    http://www.theburningplatform.com/

    WAR PIGS – THE FALL OF A GLOBAL EMPIRE

    “We will bankrupt ourselves in the vain search for absolute security.” -Dwight D. Eisenhower

    “How far can you go without destroying from within what you are trying to defend from without?” -Dwight D. Eisenhower
    (great info graphic on the % the military gets of the budget)

    (from the article)

    “The National Debt in 1990 was $3.2 trillion. Today, it is $15.7 trillion. This is a 500% increase in twenty-two years. What benefit has $11.5 trillion of spending on War produced for the United States or the world? In 2001, spending on Defense was 17% of total governmental spending. In 2012, Defense, Homeland Security, and war spending account for 25% of government spending. In the meantime, major cities experience blackouts due to an overloaded electrical grid, our 156,000 structurally deficient bridges crumble, one hundred year old water pipes burst under our streets every day, and we transfer over $300 billion per year to foreign countries for our precious oil. The 19 terrorist hijackers who implemented their plan with box cutters, spent less than $500,000 to pull off their 9/11 acts of terror – not war. The United States will directly spend at least $3 trillion on our wars of choice in response, while turning our country into a prison camp and stripping our citizens of their freedoms and liberties for perceived security and safety.

    You would think we must be trying to keep up with our enemies by spending $900 billion per year on past and present military adventures. But one look at the following chart reveals the United States is spending almost as much as the rest of the world combined. The two countries considered potential rivals, China and Russia, spent $200 billion combined in 2010. This is 22% of U.S. spending. From a foreign viewpoint, one must wonder why the U.S. is spending such vast sums on our military. They can only conclude that it is for offensive intentions rather than defensive. The United States soil has not been attacked by a foreign power since December 7, 1941. Prior to that surprise attack, a foreign power hadn’t attacked the U.S. since the War of 1812. With this stupendous level of wasteful spending, our leaders feel compelled to interfere in the business of sovereign states and dictate how they should govern their nations . When you have an enormous hammer, every country looks like a nail.”

  4. wj says:

    Soros is calling for Germany to bail out Greece, Spain, etc…
    But remember what one Greek politician recently said:
    As Germany and the EU invest more in Greece, the Greeks can do whatever they want.
    Because when the credit gets too big, the borrower controls the lender.

  5. NoKidding says:

    A link that supports global warming? Don’t have to sneak that by anyone.

    If you want to get censored and banned from future posts, try posting a link to something that exposes it as the fraud that I believe it to be. Whether or not CO2 traps heat (you can run experients easily enough to show yes it does), trying to predict temperature 100 years out based on CO2 is about as scientific as using TA to guess where Netflix stock will be in 10 years.

    I never understood how Barry can be so resistant to the siren calls of sell side stock broking, flawed infographics, SEC appeals to blind authority, and one-variable trading schemes, but accept the same poor devices from a self selected group of scientists clearly absorbed in confirmation bias and acting defensively.

    ~~~

    BR: As I have said repeatedly, AGW is not my issue. But process is.

    The fastest way to get on my bad side is to post links to propaganda sites, repeat discredited memes, disrespect knowledge, learning, science and the empirical process of reasoning, or otherwise reveal yourself to be a ignorant douchebag.

    Anyone who wants to believe in astrology or witchcraft, thats up to them. But please, go sell crazy elsewhere.

  6. cn-

    I get the gist, though, wouldn’t that defame “Crazy Eddie” ?

    ~~

    mathman,

    you keep laying out pieces, like the one above, that ‘fit together’, so, readily..

    maybe, more people, if they’re not, too, busy with ‘Sudoku’, will puzzle it out, and See the Picture..

  7. theexpertisin says:

    Seems to me that Eisenhower, along with many other high profile generals, were crying for more and better military equipment in the run up to WW2. They saw the threat, and knew the US was grossly unprepared. Our military was in a shambles compared to many others at the time.

    Fortunately, we ramped up in three years and the result is history.

    We are in the 21st century, not the Cold War of the 1950s, and we won’t have three years (1938-41) to ramp up. We’ll be lucky to have three hours. Unfortunately, we must use treasure to prepare in advance.

    To think otherwise is naive.

  8. James Cameron says:

    “The 594,000 silver coins, as well as a couple hundred gold ones, had been recovered in the spring of 2007 from a Spanish shipwreck by Odyssey Marine Exploration (OMEX), an American deep-sea treasure hunting company based in Tampa. Odyssey had hidden the coins, which could be worth as much as a half billion dollars, while it argued with the Spanish government over who owned them. ”

    Odyssey and the Lost Spanish Treasure

    http://goo.gl/uotdP

  9. Mike in Nola says:

    @theexpertisin: Which defense contractor do you work for? We already spend more than the rest of the world combined.

    take a look at “”There’s a war to be won” by Perret.

    http://www.amazon.com/Theres-War-Be-Won-United/dp/034541909X#_
    Thanks to Marshall and others, we were in much better shape than most think.

  10. theexpertisin,

    your’s is an interesting take..

    “the unquantifiable ‘existential’ threat’..

    as Rummy made a Book of, ~”unknown Unknowns..”

    well, at least, He isn’t alone..see.. http://search.yippy.com/search?query=Stephen+King+best-seller&tb=sitesearch-all&v%3Aproject=clusty , et al., ad infi. ..

    maybe, instead, this Man’s message could resonate? http://search.yippy.com/search?query=Gen.+Smedley+Butler&tb=sitesearch-all&v%3Aproject=clusty

    as had been noted..”He who speaks of ‘Demons’ is,probably, selling ‘Exorcism’..”

    http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus-ns-aaf&v%3Aproject=clusty&query=Exorcism
    ~or..
    “…‘Mass Transit Cameras Spot Bad Guys, No Human Judgment Required’
    June 7th, 2012

    And while we’re at it, how about using Google searches to identify pre-crime?

    Via: Fast Company:

    A new breed of security cameras can supposedly detect terrorism and crime without a human judgment call–and mass transit agencies are shelling out big bucks for the product. San Francisco’s Municipal Transit Authority, which oversees the city’s MUNI trains, has signed a contract with security firm BRS Labs to deploy cameras to 12 subway stations that use algorithms and machine learning techniques to spot anomalous behavior…”
    http://cryptogon.com/?p=29861

    Feel ~Free, take your pick..~

  11. Iamthe50percent says:

    Perhaps Europe should concentrate on raising GDP rather than lowering pensions.

  12. this, “presented for you perusal..” (h/t Rod Sterling (?))

    http://www.alnmag.com/news/environmental-pharmaceuticals-cause-autism-fish

    sure, “your” ‘water system’ is ___ / _____ / __________ “Approved”..

    What _______ Good does that do You?

  13. Frwip says:

    @theexpertisin

    Pray tell us what is this terrible threat you are most un-naively talking about?

  14. Frwip says:

    Moderation ? Mmm, funny.

  15. Julia Chestnut says:

    I’m still stunned that this pompous jerk thinks he first discovered how hermit crabs get their homes!! But wait — he is the first guy who called it a “vacancy chain.” Actually, it’s not quite the same as people: humans can (and do) go from a giant McMansion back to a one bedroom, 750-square foot house when the kids leave and they can’t climb stairs. Hermit crabs? It is imperative for the shell to fit perfectly: too big, and they can’t drag it around properly, too small and tender parts stick out for a predator to grab. They never downsize, effectively, unless they made a huge error. There is always a new crab looking for the smaller shells, but at the top end hardly anyone moves back down.

    Anybody who has ever lived anywhere near the ocean knows that outstanding entertainment when there is nothing on TV is two hermit crabs, three shells. They will spend all night trying on the different shells and squabbling over them. Ah, rural life.

  16. frodo1314 says:

    On the Bush popularity article it would be really interesting and perhaps more telling to see how ex-Presidents favorability track over time. I wonder if 3 years removed from Clinton’s or George HW’s terms they were seen as favorably as they are now…

    ~~~

    BR: That data is available.

  17. rktbrkr says:

    All governments can solve their debt problems by encouraging inflation and prohibit COLA for pensions etc, problem solved. Thats why we don’t have to worry about the debt created by Bush’s misguided military adventures cum tax cuts and Bush & O’Bamas bailouts and stimuli. While they have been running up the tab Ben Shalom has been running down the dollar, problem solved!

    State. local and private pension plans can play follow the leader with COLA freezes like Soc Sec. Problem for thst state & locals is that they are in too deep already to have pension inflation solve their problems, Meredith Whitney will eventually be correct with her muni BK calls – then we’ll find out who’s overloaded with (the wrong) muni bonds.