My afternoon train reading:

• SCOTUS Upholds ACA:
…..-Don’t call it a mandate — it’s a tax (SCOTUS)
…..-Did John Roberts switch his vote? (Salon)
• Economists Are Overconfident. So Are You (Harvard Business Review)
• Central Banks Commit to Ease as Threat of Lost Decades Rises (Bloomberg) see also Ben Bernanke’s Magical Games (Barron’s)
• 54 Smart Thinkers Everyone Should Follow On Twitter (Business Insider)
• Roberts Chooses Restraint Over History on Obamacare (Bloomberg) see also Ruling Likely to Prompt Re-evaluation of Roberts (NYT)
• Romney’s Dilemma (New Yorker)
• Apple Said to Prepare iTunes Changes to Improve Sharing (Bloomberg)
• Astronomers find unlikely pair of planets orbiting star (LA Times) see also Physics blogs hint that long-sought Higgs boson is in sight  (LA Times)
• Foreign Inventors Have Hand in Most Patents From Top Universities (WSJ)
• How Anonymous Picks Targets, Launches Attacks, and Takes Powerful Organizations Down (Wired)

What are you reading?


European Banks Are Facing More Pain In Spain

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.

19 Responses to “10 Thursday PM Reads”

  1. JimRino says:

    Roberts voted for Higher Profits for Insurance.
    - Better treatment reviews “death panels” = lower cost.
    - The highest costs to insurance is Cancer. There are cancer solutions around the corner.
    - This was a pro-business decision, incidentally a pro-America decision.

  2. JimRino says:

    Maybe even Roberts is starting to suspect that Scalia is Senile.

  3. Jojo says:

    Maybe Scalia spends too much time breathing car exhaust fumes?
    ON THE ONE HAND . . .

    Ever wonder why drivers make such terrible decisions? The answer may be in what they’re spewing into the air. Tailpipe emissions contain a class of chemicals known as polycyclic aromatic hydrocarbons, which may have a lasting effect on the brain. Mice that were raised breathing air piped in from Los Angeles freeways show significant brain damage, while a stack of recent studies correlate prenatal exposure to car exhaust with childhood autism, anxiety, depression, behavioral problems, sluggishness, and reduced reasoning ability.

    ON THE OTHER . . .

    In a recent study of how city dwellers cope with urban stress, Professor Izhak Schnell of Tel Aviv University finds that small doses of carbon monoxide from automobile exhaust pipes cast a narcotic lull over his subjects as they walked around the city, helping them cope with the noise and crowds. Of course, what the university’s press release calls “a boon to the well- being of urbanites” others might call “brain damage.” But heck, if you’re going to lose brain cells, why get all stressed out about it? –Dashka Slater

  4. Francisco Bandres de Abarca says:

    Good material once one traverses the imaginary dialogue at the beginning of this piece:

  5. machinehead says:

    Comment of the day regarding Scotus from ‘redpill’:

    ‘The U.S. constitution was already dead, but this qualifies as necrophilia.’

    As Barry Ritholtz often urges, fade the mainstream media. The clueless MSM is calling this decision a ‘victory’ for Obama. Quite right — a pyrrhic victory!

    The Democratic party lost its majority in the House in both 1994 and 2010, in response to health care initiatives. Obama’s loss of the presidency in 2012 (to be sure, because of the crappy economy in addition to his odious health care slave tax) will mark the third time the delusional Democratic leadership gets its skull bashed in by the voters’ nail-studded 2×4.

    Not that this predictable result will be anything to celebrate. There ain’t a dime’s worth of difference between Obamacare and Romney’s Massachusetts slave tax.

    Friends don’t let friends vote Depublicrat.

  6. mathman says:

    Man, it just keeps gettin’ better every day, don’t it?

    Merck vaccine fraud exposed by two Merck virologists; company faked mumps vaccine efficacy results for over a decade, says lawsuit

    Breaking news: According to two Merck scientists who filed a False Claims Act complaint in 2010 — a complaint which has just now been unsealed — vaccine manufacturer Merck knowingly falsified its mumps vaccine test data, spiked blood samples with animal antibodies, sold a vaccine that actually promoted mumps and measles outbreaks, and ripped off governments and consumers who bought the vaccine thinking it was “95% effective.”

    And we were worried about Obamacare. Look around! It’s gettin’ to the point where witchcraft and voodoo will suffice!

  7. contrabandista13 says:

    SB 53 smart thinkers, Deppak Chopra is a simpleton…..

  8. VennData says:

    Texas GOP Educational Platform Opposes Teaching Critical Thinking Skills

    “…The position causing the most controversy, however, is the statement that they oppose the teaching of “higher order thinking skills” — a curriculum which strives to encourage critical thinking — arguing that it might challenge “student’s fixed beliefs” and undermine “parental authority.”

    Go GOP!

  9. VennData says:

    “…We oppose the teaching of Higher Order Thinking Skills (HOTS) (values
    clarification), critical thinking skills and similar programs that are simply a relabeling of Outcome-Based
    Education (OBE) (mastery learning) which focus on behavior modification and have the purpose of challenging the student’s fixed beliefs and undermining parental authority.

  10. PeterR says:

    What a tangled web we weave!

    Have a good weekend.

  11. Mike in Nola says:

    On the overconfidence of economists: one of the big problems with the use of regression by many is that, while it might show a relationship between two variables, it is misused to try to predict the future by creating a curve through data points on a chart with a timescale on the bottom. Economists then assume that the curve will just continue in the future the way it has been going. This is a fallacious use of the method violating the rule of “past performance is no guarantee of future performance.” I suspect that his why most economic predictions are wrong so much of the time: housing prices, the stock market and an unemployment go up or down depending on an unpredictable sequence of underlying factors.

    I remember once applying for a job at what is now Entergy. Just out of college with my M.S. in math. The interviewer explained that they needed someone to work on predicting electricity demand using regression. I thought that was bs. Yes, demand likely correlates with various factors. But, how do you predict the values of the factors? It just moves the problem one step farther out. I didn’t get the job. Don’t know if he could see the scepticism or I just still looked too much like a hippie.

  12. Bob is still unemployed   says:

    Chief Justice Roberts calling it a “tax” is a major win for Conservatives. The Conservatives are now doing their Happy Dance because the scope of the Commerce Clause has been reduced. When Chief Justice Roberts had to use the “it’s a tax” justification, he intentionally reduced the scope of the Commerce Clause by not using the Commerce Clause to justify the Constitutionality of the mandate.

    Chief Justice Roberts gave the Conservatives a major win today.


    BR: It was a smart move by Roberts that supports the Supreme Court

  13. Joe Friday says:

    Susie Gharib, Nightly Business Report anchor, interviewing Jonathan Gruber, professor of healthcare economics at MIT, today.


    GHARIB: Let’s talk a little bit more about the economic impact because some critics are saying that this is really going to hurt hiring. Companies big and small that were thinking of hiring might think twice. Small businesses actually might lay off people so what do you say to that?

    GRUBER: I say that that is just made up. Let’s take small business, for example. The only thing this law does to small businesses is to give them a new tax credit. That’s it. There is no penalties on small business. There are no new charges on small businesses. There is just a tax credit for offering health insurance. How’s that going to cause them to lay off people? This is the kind of misinformation that’s led the public to not understand this bill. What we need to do now is move forward to an honest accounting understanding of this law. And then let people decide rather than just passing on misinformation like small business will be penalized.

  14. katland says:

    This will not be a popular comment on this board but is example of how one small businessman thinks. I have all the permits and land development done for a three million dollar building expansion. It is on hold until after the election. If Obama wins the project will sit on the shelf until I see how things progress in his second term. I do not view Obama as friend and do not fit into one of his favored groups. My approvals are good for five years so I have some time to wait and gauge the risks.. If Romney wins, I will break ground in March unless of course Europe drags us all into the bottomless pit.

    Like the lyrics from the John Prine classic, Bottomless Lake.

    “We are falling down
    Down to the bottom of a hole in the ground
    Smoke ‘em if you got ‘em
    I’m so scared I can hardly breathe
    I may never see my sweetheart again”

  15. [...] – Further, further reading. [...]

  16. contrabandista13 says:


    So in other words, you do not have a business plan, what you have is a political (ideological) agenda, and that’s probably why you will remain a very “small businessman”….

    I’m betting that Obama serves a second term, not that it makes any difference…. Obama and Romney are two sides of the same coin…. Good luck, you’re going to need it….

  17. JimRino says:

    Seems to me, business does better under Democrats.
    They control FRAUD, Wall Street fraud, like the 60 Trillion Dollar CDO market Bush/Cheney/Greenspan unleashed. If I were Katland, I’d start and complete projects under Democrats, and sit out the Fraud and Corruption unleashed by Republicans.

    The 60 Trillion Dollar market, whereby you could make bets worth 5 to 40 times your net worth. What happened when you bet wrong? You bankrupt up to 40 counter parties, when they find out you can not back up your contract.

    It seems insane to me that Ron Paul can rage about Inflation, and not understand the Disastrous Depth of Economic Catastrophe Unleashed by Dark Market Wall Street “Innovation”. Makes you wonder about his purpose in the Republican Party. Strawman Generator?

  18. Joe Friday says:

    It’s not just business. As has been documented by the likes of Barron’s, BusinessWeek, Fortune Mag, and others, the national economy and the stock markets do better, much better, with Democrats in power.

    According to the RightWIng, Reality has a well-known Liberal bias.