Afternoon train reading:

• Adventures in tea-party cognitive dissonance: We need a new aircraft carrier group (The Economist)
• September is dangerous: A Body of Evidence? (Market Anthropology)
• Beliefs Drive Investors More Than Preferences (Science Daily) see also What Dilemma? Moral Evaluation Shapes Factual Belief (SPPS)
• What is Value? What is Money? (Edge)
• Morgan Stanley Smith Barney Valuation Delayed Before Sale (Bloomberg) see also More on Wall Street …severance and pay (Crain’s New York)
• Okun’s Law is doing fine (Naked Keynesianism)
• Jeb Bush Slams Republican Anti-Immigrant Stance As Loser (Bloomberg)
• Exploding Stars May Drive Galactic-Scale Superwinds (Sci News)
• On the goodness of Beeminder (Overcoming Bias)
• 12 Hilarious Reviews Of A Pen Just For Women (BuzzFeed)

Why aren’t you in work?

 

Wall Street’s Finest at Work

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.

17 Responses to “10 Thursday PM Reads”

  1. James Cameron says:

    > Adventures in tea-party cognitive dissonance: We need a new aircraft carrier group

    Of course, we could also start a war aboard and keep hundreds of thousands of our young people gainfully employed for years, too.

    Below is additional info on the new Gerald R. Ford carriers. Like all these big programs, it’s probably being built in every state including some we don’t know about.

    “A carrier is 4 1/2 acres of sovereign U.S. territory,” Captain Bruce Hay, a Navy pilot who helps set requirements for the new carrier, said in an interview. “An aircraft carrier is a piece of America, and we’re going to do what it takes to keep them relevant because a carrier is presence and American resolve all at one time.” (Yeah!!!)

    U.S. Navy Bets $42 Billion On Carriers In China’s Sights

    http://goo.gl/VyklP

  2. alex_sea says:

    TED Talk with Tim Jackson about Humanizing our Economic System http://neweconomicsinstitute.org/conference/vm#2

    some new perspectives here!

  3. alex_sea says:

    Slowdown in China – Dallas Fed piece on Chinese economy http://www.dallasfed.org/news/releases/2012/nr120823.cfm

    ~~~

    BR: We posted the full Dallas Fed piece on China’s slowdown here

  4. patfla says:

    September is dangerous: I remember one explanation of the Panic of 1907 explaining how there was still a large seasonal agricultural component to finance in that farmers borrow in the spring and they need to pay back in the fall.

    So did 1907 break out in Sept.?

    http://en.wikipedia.org/wiki/Panic_of_1907

    Oct – well close enough for my money.

  5. patfla says:

    ‘in’ work or ‘at’ work? Important distinction. I’ll assume ‘in’ was chosen knowingly.

  6. NoKidding says:

    Re: 12 Hilarious Reviews Of A Pen Just For Women

    Thanks. Had not laughed that hard in 2012.

  7. patfla says:

    It looks like FactCheck.org has deconstructed Ryan’s VP speech already (we won’t call it an address yet – and hopefully never):

    http://factcheck.org/2012/08/ryans-vp-spin/

    Quick turnaround time on FactCheck’s part.

  8. farmera1 says:

    Big Banks Worried???????

    http://economix.blogs.nytimes.com/2012/08/30/why-are-the-big-banks-suddenly-afraid/?partner=socialflow&smid=tw-nytimesbusiness

    “In 1995, the largest six banks in the United States had combined assets of around 15 percent of gross domestic product; they are now over 60 percent of G.D.P., bigger than they were before the crisis of 2008.”

    I doubt that anything will happen until at least one more big blow out, and by then it might be too late.

  9. Theravadin says:

    The Repubican weather forecast today: Wierd. 10% chance of outbreaks of mass delusion. Where the heck is Hunter when we need him?

  10. dkelland says:

    http://opinionator.blogs.nytimes.com/2012/08/30/speech-lies-and-apathy/?hp

    For example, for the 1991 National Race and Politics survey, conducted by the Survey Research Center at the University of California at Berkeley, the median response to the question “What percentage of all the poor people in America would you say are black?” the median response was 50 percent (the actual rate at the time was 29 percent). Subsequent studies found similar misperceptions. In his 1996 paper “Race and Poverty in America: Public Misperceptions and the American News Media,” the Princeton political scientist Martin Gilens showed that the media, in stories principally about poverty rather than race, vastly over-represents African-Americans in photographs. These misperceptions affect their attitude towards welfare. As Gilens noted: “The public’s exaggerated association of race and poverty … increases white Americans opposition to welfare. Whites who think the poor are mostly black are more likely to blame welfare recipients for their situation and less likely to support welfare than are those with more accurate perceptions of poverty.”

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

  12. rd says:

    The aircraft carrier became central to warfare in WWII in the Pacific. It is rare for a technology to remain the center-piece of war making for over a half-century since the Industrial Revolution.

    Ultimately, the victors are the people who have the strongest economies, the best production capabilities, the ability to change course when the old one is not working, the best logistics, the best communications, and the best ability to penetrate the enemies communications and secrets.

    Building up military might in peacetime to “stimulate” the economy has generally been a losing proposition in the long run – ask Germany 1914 and 1939, Japan 1939, Russia 1970s&80s.

    The effectiveness of a crarrier force is magnified by precision munitions, generally cotrolled by GPS. China is already demonstrating a capabaility to knock out satellites. Other countries will likely follow suite. A blind, innacurate carrier fleet just becomes a battleship in WW II – looks awesome but generally not worth much.

    It appears that the Tea Party is yearning for the 1980s. The 1980s are not coming back folks. Preparing for warfare needs to be forward looking. Usually, the important weapons in the next war are the ones that did NOT get the big investments before it started. The invention of the tank by the British in WW I, the Higgins landing craft in WW II, etc., Bletcheley Park and cracking Enigma in WWI, etc. were all central to victory even though they didn’t have politicans clammering to fund them.

    More important was the relative lack of social strife back home that allowed the countries to mobilize for war and maintain war-fighting capabilities that made the difference. Oddly enough, the countries that were trying to stay out of the wars over the past 150 years are the ones that came out the victors in the end. The US tends to win wars that it doesn’t voluntarily go into and tends to lose or draw ones that it initiates or voluntarily goes into, usually because the latter are driven by interests unaligned with the general public.

  13. VennData says:

    Romney Aides Scratching their Heads over Eastwood’s Speech

    http://www.nytimes.com/2012/09/01/us/politics/romney-aides-scratch-their-heads-over-eastwoods-speech.html

    Well, now we know why he asked if he fired six shots or was it only five? He’s senile.