My afternoon train reading:

Shiller: The global economy is trapped in a painful austerity-induced slump of our own making  (Project-Syndicate)
• JPMorgan is not a farmer: House Agriculture Committee will hold a markup session today on seven bills designed to gut derivatives regulations passed in the Dodd-Frank financial reform law. (Salon)
• Civil Engineers Echo Obama Calling for Infrastructure Fix (Bloomberg)
• The Magic of 3 Percent GDP Growth (Businessweek)
• Why renters are still driving America’s building boom (Fortune) see also Today’s Forecast: Sunny With a Chance of a Housing Bubble (Bloomberg)
• Greed Not So Good: the fundamental problem with free market capitalism (They gave us a republic)
• Google Is Eating The Internet (Phil Pearlman)
Humanity Leaves the Solar System: 35 Years Later, Voyager Offically Exits the Heliosphere (Time)
• Warming Has Doubled Risk of Katrina-like Storm Surges (Climate Central)
• The Brilliance of the Dog Mind (Scientific American)

What are you reading?


Its Do or Die Time for Gold

Source: TRB

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.

12 Responses to “10 Midweek PM Reads”

  1. VennData says:

    “…Ald. Thomas Tunney, 44th, released a statement in which he acknowledged that moving the landmark manual scoreboard was one of many “creative solutions” that has been talked about during negotiations with the Ricketts family…”

    Tells these asshats to keep their hands off my scoreboard.

    I thank Sam Zell for selling the team to these morons.,0,2583035.story

    All these right wingers want to tear down Wrigley Field and build something they can put advertising on. The Ricketts aren’t a Family, They are a corporation of money-grubbing hillbillies.

    Get out of Chicago.

  2. ami_in_deutschland says:

    A short, sweet, but surprising analysis of why there is so much good TV being produced these days:

    It’s the Golden Age of TV—but Why, Exactly?

  3. stonedwino says:

    The only real salvation for gold right now, would be a Euro crash…

  4. DRR says:

    Their baaaaack…..

    Synthetic CDOs Making Comeback as Yields Juiced

    Derivatives that pool credit- default swaps to make magnified bets on corporate debt, popularized in the last credit bubble, are making a comeback as investors search farther afield for alternatives to bonds at record-low yields.

    Citigroup Inc. (C) is among banks that have sold as much as $1 billion of synthetic collateralized….

  5. call me ahab says:

    From the Shiller article:

    “For starters, people tend to think of taxes as a loathsome infringement on their freedom, as if petty bureaucrats will inevitably squander the increased revenue on useless and ineffective government employees and programs.”

    Why would anyone think that? For instance- upon the creation of the Department of Education we have become the envy of the world with our students outpacing everyone on the planet- if not the galaxy. . . .and possibly the universe.

  6. Bill in SF says:

    Remember iPad AT&T security breach in 2010?

    Ryan Tate in Wired writes;

    “Today my primary takeaway from the case is the same as when I began working on the story nearly three years ago: AT&T was almost criminally sloppy with customer data, and its partner Apple was negligent in monitoring how AT&T was securing interactions with iPad subscribers.

    But federal officials, who began investigating the breach within a day of my report, chose to focus not on AT&T but instead on the people that brought to light the company’s careless exposure of private customer data. Goatse member Andrew “Weev” Auernheimer was sentenced to 3.5 years in prison by a U.S. district judge in New Jersey on Monday for one count of identity fraud and one count of conspiracy after being found guilty of those crimes this past November.”

  7. call me ahab says:

    again- from Shiller’s article:

    “Businesses are not investing enough in new plants and equipment, or adding jobs, largely because people are not spending enough – or are not expected to spend enough in the future – to keep the economy going at full tilt.”

    and there’s the rub. . .the economy at full tilt? What does that mean as it equates to the increased extraction of resources, the increased destruction of habitat and the further extinction of other species (outside of zoos – for our own entertainment of course).

    it’s a temporary phenomena at best

  8. Bob A says:

    comforting thoughts

    “It is really very nearly within our grasp to be able to compute on all human generated information,” Hunt said. After that mark is reached, Hunt said, the agency would also like to be able to save and analyze all of the digital breadcrumbs people don’t even know they are creating.

    “You’re already a walking sensor platform,” he said, nothing that mobiles, smartphones and iPads come with cameras, accelerometers, light detectors and geolocation capabilities.

    “You are aware of the fact that somebody can know where you are at all times, because you carry a mobile device, even if that mobile device is turned off,” he said. “You know this, I hope? Yes? Well, you should.”

  9. Bob is still unemployed   says:

    I read an article about the blog of a Chinese military hacker: China hacker’s angst opens a window onto cyber-espionage.

    Young man’s blog provides a rare glimpse of the secretive hacking establishment of the Chinese military, whose efforts have become a growing concern to the U.S.

  10. Theravadin says:

    DRR: What I can’t figure out from the article is who’s taking the other side on those synthetic CDOs. Sure like to know…

  11. rd says:

    The costs of inadequate funding of infrastructure today are real and somethimes subtle. For example, there are many ship and barge loads that are underweight because of the inadequatre draft of harbors and waterways. This raises the cost fo shipping which then gets passed through the rest of the economy. In this particular instance, many of the shippers would like to see an increase in the taxes or user fees to pay for the fixes but Congress hasn’t wanted to raise taxes, so has not acted.

  12. Michael Berger says:

    BR: Voyager has not officially left the solar system…